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April Buying Advice: With fewer houses to choose from, more buyers are considering purchasing homes with problems. Here’s what you need to know, and which issues might be too much to take on.
By Melinda Fulmer of MSN Real Estate

© Juice Images/Corbis

With housing inventory tight and many bank-owned homes on the market, some buyers are starting to consider homes that they previously would have dismissed as problems.

How much of a project should you take on? We asked real-estate agents and a home inspector what buyers should consider when evaluating a home that needs work.

In this month’s buying advice, we’ll also check in with the latest housing statistics and help define a real-estate phrase that’s commonly used but not universally underst… Continue Reading Should you buy a fixer-upper?

Both buyers and renters list “not choosing a larger home” as one of their top regrets. Younger buyers have more regrets than older buyers, a new survey finds.

By Teresa Mears at MSN Real Estate

A new survey from Trulia on real-estate regrets has pinpointed the state of the market today: 75% of respondents think this is a great time to buy a house. Only 32% think it’s a great time to sell.

There’s one explanation of why the inventory of homes for sale has shrunk so drastically.

Trulia’s Real Estate Regrets survey polled 2,130 adults, both homeowners and renters. More renters (56%) have regrets than homeowners do (50%), but not many more. 

Among those who had regrets, the top laments of renters were wishing they had:

Bought instead of renting … Continue Reading Top real-estate regret: Too small a house

You may enjoy your home but the addition of children or just the desire for greater space may have you considering the option of trading up to a more spacious version. There are a lot of things to think about, especially in the current market where there are amazing opportunities to upgrade to a larger home with plummeting prices, but this becomes a double-edged sword when you are also trying to offload your current home to snag that castle that you have had your eye on.

It’s All in the Timing

According to those who follow and study the state of real estate markets around the country, a depressed home market is an excellent time to take the leap in square footage, location, and acreage. While it may sound bad in one way, the number of foreclosures and bank-owned propertie… Continue Reading Is This the Right Market to Trade Up Your Home?

By Megan Hopkins

With REO sales making up roughly 11% of total sales, it’s important for Realtors to know the short-sale market well, said Equator Vice President of Certification Ashley Bean, when leading a panel discussion at the REOMAC 2013 Summit & Expo in Dallas.

During the same panel discussion, a number of short sales experts discussed the health of the industry and gave tips to attendees on how to close more sales.

In 2011, the average time it took to complete a short sale was only 108 days, according to Bean. That is a far cry from the 148-day average that came the following year. Now, in 2013, we’ve pushed the time back down slightly, with the average somewhere between 120 and 130 days, the Equator VP said.

Bean added that Arizona, Nevada, Illinois, Mic… Continue Reading Short sale experts reveal knowledge behind the industry