Where Do You Start?

Buying a house can be a chore. Where do you start? What should one know about mortgages, taxes, home owner association frees, insurance, short sales, bank owned? Personally, I have never bought a home, but I am considering it. I finally make good pay and I need real estate advice. Like you I have been searching the Internet for Home Buying Advice. There are a million web pages out there about real estate and home buying. I know that buying a home can be a good investment for my future and for retirement. My first steps are to look to see what sites such as CNN Money and MSN Real Estate are saying about it - but I am also talking to a real estate agent in Los Gatos, CA I know and trust: Mike Caplan Real Estate. I am also buying some books from Amazon. Hopefully I'll avoid some of the pitfalls I have heard about such as termites, dry rot, roofing, plumbing, wiring, closing fees and whatnot.

Did you know...

• Mike Caplan Real Estate explains what is it really like to purchase a short sale property.
• Microsoft's Hohm website, an online service designed to make it easier for people to figure out how energy efficient their house is (and how to make it better)
• The Obama Administration’s Making Home Affordable Program includes opportunities to modify or refinance your mortgage
• Federal mortgage programs may help you buy a home - Mortgages for Home Buyers and Homeowners
• When buying, selling, refinancing, or remodeling your home, you can increase your comfort and actually save money by using the Energy Efficient Mortgage (EEM)
• Are you or someone you know having difficulty making your monthly mortgage payments? If so, don't be tricked by criminals who charge large upfront fees and falsely "guarantee" to rescue a home from foreclosure. Learn More from the FDIC
• New York Times (left sidebar) Should You Rent or Buy Calculator
• Yahoo Finance Home Buying Tips: 10 Things a Homeowners Association Won't Tell You

How to Buy a House in 2010 - Consumer Research Center

- Home Buying Institute.

"The recent housing crisis taught us that first-time home buyers need to be better educated before taking the plunge. For instance, there were more home foreclosures in 2009 than any other year on record. Many of these could have been avoided, if people had simply done more research in advance. That's where this guide comes into the picture. The lessons below will teach you how to buy a house the right way, through proper research and planning.

Methodology: Each week, the Home Buying Institute receives dozens of emails from home buyers. Many of these emails ask the same questions, repeatedly. You'll find answers to these frequently asked questions." Read FAQs

Ten Tips for Buying Home

CNN Money 101 - Buying a Home

1. Don't buy if you can't stay put.
2. Start by shoring up your credit.
3. Aim for a home you can really afford.
4. If you can't put down the usual 20 percent, you may still qualify for a loan.
5. Buy in a district with good schools.
6. Get professional help.
7. Choose carefully between points and rate.
8. Before house hunting, get pre-approved.
9. Do your homework before bidding.
10. Hire a home inspector.

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7 tips for first-time home buyers

- MSN Real Estate

1. Check the selling prices of comparable homes in your area.
2. Determine what you can afford with an online mortgage calculator
3. Calculate what your monthly payments would be - including HOAs, taxes and homeowners insurance
4. Now you know how much your monthly housing payments will be, how does that compare to other obligations and necessities such as food, clothing children, pets, utilities
5. Find out how much you'll likely pay in closing costs
6. Talk to reputable real-estate agents in your area about the real-estate climate.
7. Remember to look at the big picture.

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