Home Buying made 'superficial'

Bob Bruss Real Estate Center: "If you seek a basic home buying book, 'How to Buy Your First Home,' by attorney Diana Brodman Summers, explains the fundamentals. It emphasizes Internet Web sites where readers can go for additional home buying information
This survey book for first-time home buyers explains the bare essentials without delving into much detail. A useful feature is the 'click on this' sidebars that highlight mostly government Web sites that provide more facts for first-time home buyers."
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Buying from a Rigid, Inflexible Home Seller

: "The foreman for a tree service spent three months searching for the right duplex. He finally found one to his liking and was pleased when his offer was accepted. But after a home inspection revealed several flaws -- a broken fence, missing window screens and a faulty exhaust system for the clothes dryer -- he was miffed at the owner's refusal to spend even a penny for repairs. The buyer found it 'completely unfair' for the owner to demand that his place be sold 'as is,' recalls Keith Heisler, the Prudential Realty agent who represented the foreman."
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When a Long Held Housing Fantasy and Reality Don't Mesh

: "They were a couple in their early 30s: an ambitious newspaper reporter for a midsized daily and her husband, a carpenter. Since childhood, the man had cherished the dream of owning a big old farmhouse overlooking a river. Ultimately, the wife surrendered to his plan. But to afford the husband's fantasy, the pair had to buy a farmhouse in need of serious renovation in a rural area.
After the couple moved, the husband began a major modernization. The project seemed overwhelming, and he soon regretted his choice, which was far from the blissful existence he had imagined. A further complication was that halfway through the renovation the wife was offered a prized reporting position in a distant city. "
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How to Make a Major Change in Housing Without a Misstep

: "A pleasing vision of pastoral living, along with glossy brochures of model homes, have convinced many families to move to distant suburbs, where they can afford a newer, larger place than they could buy closer in.
Yet between ideal and real often falls a shadow. Soon, a daily commute of two hours or longer becomes a grind, and both spouses attempt a U-turn back to a closer neighborhood. They realize that their chronic shortage of time makes their commute too high a price to pay."
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Buyers ask " What exit?" as home prices soar in N.J.

Stock Market News and Investment Information | Reuters.com: "As any New Jersey resident knows, proximity to the namesake turnpike or its parkway sibling has often been the key to buying a home in the Garden State, where prices have risen far above the national average.
Real estate professionals say the state's housing market shows no sign of cooling off, even far from the main roadways, due to a steady influx of new residents.
'We still have a tremendous amount of people coming into New Jersey because of its proximity to New York and the job market here,' said Bill Hanley, who manages a real estate firm in Metuchen, N.J., and is first vice president at the New Jersey Realtors Association."
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New Homes Sales, Consumer Confidence Plummet

KFOXTV.com - Money - New Homes Sales, Consumer Confidence Plummet: "Consumer confidence plummeted almost 19 points in September, its biggest drop in 15 years, as Americans reacted to the change in the economic landscape after Hurricane Katrina, including sharply higher gasoline costs.
The Conference Board said its Consumer Confidence Index, compiled from a survey of U.S. households, dropped nearly 19 points to 86.6.
That marked the biggest fall since October 1990 when the index fell 23 points to 62.6.
The September reading was also the lowest level for the index in nearly two years.
Analysts had expected the September reading to be 98."
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There's profit in buying distressed and undervalued properties, study says

There's profit in buying distressed and undervalued properties, study says: South Florida Sun-Sentinel: "A study released this month proves statistically what many real estate investors have known for a long time: People who invest in distressed or undervalued real estate and 'flip' the property routinely beat the market, reaping gains far in excess of the appreciation rate of the overall market.

First American Real Estate Solutions, a provider of property and ownership information, analytics and services based in Anaheim, Calif., released a study called 'Real Estate Flipping: Gold Mine, Mistake or Fraud"
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