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With all the talk of bailouts and government incentives some people are starting to wonder if first time home buyers can actually get a good deal in this market.

Homer Buyer was concerned about the real estate market.  He heard that home prices had been falling, but he was determined to buy a house and move in on return from his honeymoon.  He didn’t want to buy something that would soon be less than what he paid for it.

But millions of people buy new cars every year knowing that the  minute they drive off the lot the value decreases by thousands of dollars.

People tend to look at buying a home strictly as an investment, when actually it is a necessity of life.  You have to live somewhere, whether you are buying your home, or paying rent to a landlord so they can pay their mortgage.

While most people are concerned that housing prices are still falling, there are some good reasons to buy now rather than later, the first time home buyer tax credit being one of them.  More…

Comments (1) Feb 24 2009

When was the last time you checked your credit report? Are you aware of everything that’s listed on your report? Many credit reports contain errors that seriously affect your score. You are entitled to a free annual credit report from each of the three credit bureaus.

Take Homer Buyer’s story, for example.  Homer was preparing to buy his first home.  He and his fiancée, Ivana Newhouse, plan to move in when they marry.

Homer found the perfect house and then he went to apply for a loan.  Homer had already discussed the loan over the phone with his mortgage broker, and the broker said he was sure Homer could qualify based on the information Homer had given him.

But when Homer went to meet the mortgage broker to fill out the loan application, he was in for a surprise.  More…

Comments (7) Feb 17 2009

Ivana Newhouse asked her fiancé, Homer Buyer “Have you ordered your Amazon Kindle 2 Yet?”

When Ivana had idle moments she would picture herself curled up with a Kindle 2 in front of the fireplace in her dream home.

She imagined the day when she would move in. She and her fiancé, Homer Buyer, had been planning to buy a house for some time now. She dreamed of the day when she would become Mrs. Newhouse-Buyer.

Homer had many books on the subject of home buying and he often wished he had one or another of them when he was looking at properties. But he never knew which one he would need and he couldn’t very well carry them all wherever he went.

Homer’s friend, Frank Lee Board had a electronic book reader called a Kindle he ordered from Amazon. Frank always talked about how he loved his Kindle. He took it everywhere with him.

Frank had hundreds of books stored in his Kindle, and he could get more at a moments notice via wireless connection. He could even get a free sample chapter of books to read before he decided whether or not to buy the whole book.

Frank’s Kindle had a display that looked just like a page of a book. It had a technology called electronic paper  that was easy to read and didn’t strain the eyes like a computer screen did.

Frank told Homer that Amazon was coming out with a new model, the Amazon Kindle 2, which was lighter (only 10.2 ounces), had a better display and thinner case (just over 1/3 inch thick).

It also had a new feature – “Read to Me” text to speech capability. You could listen to a book while you were driving or working on the car. Homer had a 1957 Cadillac he planned to rebuild once he got his new house with a garage.

When Homer heard about the Kindle 2, he decided he would get one as soon as they were available. He told Ivana about the Kindle 2 and she thought it sounded ideal for curling up by the fire.

When Amazon announced they would be releasing the Kindle 2 on February 24, Ivana called Homer at work and asked him,”Have you ordered your Kindle 2 yet?”  Read More

Comments (3) Feb 10 2009

Last time you went to look at a property did you bring your home inspection checklist?

You’re thinking you want a professional home inspector to inspect a home before you buy it, aren’t you?

Homer Buyer thought the same way.  He didn’t feel qualified to do a full home inspection and he wanted a professional opinion on the condition of the home.

When Homer was looking for properties he saw many that were interesting, but was having a hard time choosing one.  He kept looking at homes and after a while, he couldn’t really remember the details.

He thought, “Was the one on Main Street the one with the built in barbecue in the back yard?  Or was that the one on Elm?”

So Homer kept looking and then he came across one that really stood out from the rest.  It had everything that Homer wanted.  It had a beautiful master suite, a nice view of the valley, and magnificent landscaping around a pool in the back yard.

When the seller’s agent showed Homer the property, he was enchanted with the place.  He just had to have this house.  The agent noted how infatuated Homer was and told his client to hold out for more money.

Homer made an offer for the full list price.  The client had listed the property at market value as determined by comparable sales, but the agent advised him to ask for more.

The seller countered Homer’s offer with a price $10,000.00 higher.  Homer accepted the counter offer, afraid that he might lose the house if he countered with a lower price.

When Homer had the house inspected, he found out that the roof needed repair and the foundation was cracked.  Homer didn’t have any idea what the repairs would cost.

Following the advice of his real estate agent, Homer asked the seller for $11,000 repair credit, but the seller countered his offer with $3,500 repair credit.  Homer was almost ready to accept the deal, but  Read More

Comments (1) Feb 08 2009

Homer Buyer and Ivana Newhouse were expecting flower deliveries to their housewarming, are you?

You see, Homer and Ivana planned to move in to their new house upon returning from their honeymoon.  They planned a  big housewarming party for all their friends and family to come see their new home.

Homer and Ivana wanted everything to be beautiful for their party which was scheduled the day after their return from the Bahamas.

They didn’t want to worry about any details when they returned but they wanted to be sure everything was ready before the guests started arriving. Read More

Comments (2) Feb 06 2009

Are you ready to make a commitment? Looking at engagement rings? Or houses?

Homer Buyer made a commitment to himself to become a homeowner in the same year he made his commitment to his fiancée, Ivana Newhouse.

In early 2008 Homer was still in his final year of grad school.  He was already committed to buying a house when he graduated, but he felt that he would be missing something to make his house a home.

He had been dating Ivana Newhouse for almost a year and he wanted to share the rest of his life with her.

Homer spent a good part of January looking at engagement rings.  He wanted something perfect for his lovely Ivana.  He was so nervous that she might not accept a proposal.

Homer was usually pretty decisive, but he vacillated on what to buy Ivana.  Valentine’s Day was quickly approaching and Homer wanted to make it something special for her.

He had asked her what her ring size was, so he knew she was expecting a ring.  Still, he wanted to surprise her.

When Valentine’s Day came,Homer planned a nice dinner at Ivana’s favorite restaurant.  After they finished their dinner and were waiting for dessert, Homer pulled a ring out of his shirt pocket.  It was a plain silver ring with a heart shape.

Ivana looked slightly disappointed, but more curious about what was attached to the ring.

Read More

Comments (1) Feb 05 2009