Zillow.com

Zillow.com is a free online service for finding the value of a home in the U.S. Zillow uses data derived from sources such as tax records, sales history, and actual prices of similar homes to come up with a home value estimate. The well-designed site offers aerial photos and maps showing neighborhood prices as well as charts, graphs and historical data.
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Zillow.com

Zillow.com is a free online service for finding the value of a home in the U.S. Zillow uses data derived from sources such as tax records, sales history, and actual prices of similar homes to come up with a home value estimate. The well-designed site offers aerial photos and maps showing neighborhood prices as well as charts, graphs and historical data.
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Buyers will pay more...

A recent Cornell University study concluded that home buyers will pay more for a house if its listing price does not end with zeros. Because people expect round numbers for large-ticket items such as homes, home buyers tend to perceive a price is smaller if it has digits at the end instead of zeros. For example, a house priced at $375,425 might fetch more than being priced at $376,000.
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Remodeling project

Real estate experts recommend not investing in a major remodeling project right before putting a house on the market. Studies have shown that the most profitable home remodeling projects recover only about 60 to 90 percent of their costs when a home is sold.
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Counselors of Real Estate

The Counselors of Real Estate (CRE) is a professional organization established for real estate advisors who provide intelligent, unbiased, and trusted advice for a client or employer. Membership is awarded by invitation and is based on several criteria and distinctions. The Chicago-based group was created in 1953 and has 1,100 members.
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Affordable housing

Indianapolis, Indiana has the most affordable housing among big cities (more than 500,000 people) in the U.S. According to a recent survey by the National Association of Home Builders, 90 percent of the new and existing homes sold in Indianapolis were affordable to families making a median income of $64,000. The median home sales price was $125,000.
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Realty transfer tax

A realty transfer tax is a state tax assessed on real property when ownership is exchanged between parties. Residential, commercial, and agricultural properties are all subject to realty transfer taxes. The states of Delaware, New Hampshire, and Washington have the highest transfer tax rates in the U.S. There are several states with no transfer tax.
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Home Depot

Bernie Marcus and Arthur Blank opened the first two Home Depot stores in Atlanta, Georgia in 1979. The Home Depot, and later Lowes, introduced the concept of "big box" hardware retail with warehouse type stores stocking thousands of home, lawn and garden products. The Home Depot is the world's largest home improvement retailer operating more than 2,000 stores in North America.
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The Money Pit

The 1986 comedy film "The Money Pit" stars Tom Hanks and Shelly Long. Walter and Anna purchase the home of their dreams only to discover that the house is falling apart around them. The couple is sabotaged by zany accidents and costly repairs. The Money Pit was produced by Steven Spielberg.
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The Painted Ladies

The Painted Ladies are six beautifully restored Victorian houses located on Steiner Street in San Francisco's Western Addition neighborhood. The houses set against the backdrop of the San Francisco skyline represent a classic image of San Francisco. The homes have been the subject of countless photos, post cards, and television and movie scenes of the bay area city.
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Average home size

According to the U.S. Census, the median size of a new single-family home is up from 1,535 square feet in 1975 to 2,140 square feet. Despite this increase, some housing analysts believe the average home size in the U.S. may have peaked, as more Americans seek smaller homes in response to changing lifestyles, decreasing supply of land in metro areas and limited housing budgets.
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Assumable mortgages

Most mortgages contain a due-on-sale or alienation clause, which means that the mortgage may not be transferred to a new buyer. Instead, the seller must pay the entire balance that is due. In contrast, an assumable mortgage allows a home seller to transfer their mortgage to the new buyer, which can help attract buyers. FHA and VA mortgage loans are usually assumable.
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Lead poisoning

Lead poisoning is one of the most common and preventable pediatric health problems in the U.S. Common sources of lead in homes are lead-based paint, contaminated soil, and lead pipes. HUD estimates that nearly 64 million pre-1978 housing units contain some form of lead source. The Lead-Based Paint Poisoning Prevention Act of 1971 was the first major lead-based paint legislation to be enacted.
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Home mortgage interest deduction

President Woodrow Wilson signed the United States Revenue Act of 1913 into law on October 3, 1913. The act imposed the first federal income tax following the ratification of the Sixteenth Amendment. This act also included provisions for the home mortgage interest deduction on federal income tax. The home mortgage interest deduction is one of the biggest financial advantages to home ownership.
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Homeowners insurance

The majority of homeowners do not understand precisely what their dwelling insurance will cover, according to a recent survey conducted by the National Association of Insurance Commissioners. Things assumed to be covered by a homeowners insurance policy, such as floods or earthquakes, require a separate policy or endorsement. Consult your insurance agent when in doubt.
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New home lumber

The first lumber mill in the U.S. was reportedly built in York, Maine in 1623. The lumber industry thrived in the northwest part of the U.S. until environmental legislation limited timber harvesting. Most new home lumber comes from the southern U.S. and Canada. Lumber prices are affected by supply, legislation, trade agreements, and natural disasters.
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e-PRO

Real estate agents earn the designation of e-PRO by successfully completing the e-PRO training program endorsed by the National Association of Realtors. The e-PRO course teaches how to work with online real estate resources, including web sites, e-mail and online tools. The goal is to use technology to streamline the entire real estate transaction from showing to closing.
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The White House

The White House is one of the most famous properties in the world. The Palladian style, Georgian mansion located at 1600 Pennsylvania Avenue would be the ultimate real estate listing. According to a recent HouseValues.com survey of top real estate agents, the White House would fetch about $106 million if available on the open market.
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True costs of maintaining a house

Underestimating the true costs of owning and maintaining a house and property is a common homebuyer mistake. Fixed cost items include the mortgage, tax, insurance, and utilities. Variable costs include interior and exterior repairs and maintenance, landscaping, and driveway maintenance. Roughly $2,000 to $6,000 in maintenance costs will be incurred each year, depending on the size of the house.
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LIBOR

LIBOR stands for "London Inter-Bank Offered Rate". The LIBOR is an average of the interest rate on dollar-denominated deposits, also known as Eurodollars, traded between banks in London. The one-year LIBOR rates published monthly by Fannie Mae are widely used as adjustable rate mortgage indexes.
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Two-step mortgage

A two-step mortgage is a convertible adjustable rate mortgage that offers a fixed rate for a set time and then adjusts to prevailing market rates, usually after five or seven years. A two-step mortgage is ideal for a first-time buyer that has a job that relocates often.
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Title search

A title search is performed when a property is sold. The title searcher follows the chain of title back about fifty years, tracing the ownership through deeds recorded in public records. The searcher also checks to make certain that previously recorded mortgages and other liens have been released. A title insurance policy is based upon the title search.
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Vacation home

A vacation home provides fun and investment. A vacation home's mortgage loan interest is tax deductible, as are its real estate taxes. In addition, if a vacation home is rented out for fourteen days or less a year, the rental income is tax-free.
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The U-Haul company

The U-Haul company recently celebrated 60 years of serving do-it-yourself movers. With a 1937 Ford and $5,000 in savings, Sam and Anna Mary Shoen launched U-Haul in the summer of 1945. By the end of 1949, it was possible to rent a moving trailer one-way from city to city throughout most of the U.S., and by 1955 throughout most of Canada.
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laundry rooms

Locating a laundry room near the bedrooms is the top preference among new home buyers, according to statistics compiled by the National Association of Home Builders. The next highest preference put the laundry room near the kitchen, followed by the basement, and lastly the garage. Leaks and noise are the top drawbacks to locating a laundry room near the bedrooms.
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Open house

Ideally, the seller should not be present at their open house. Other effective open house tips include: invite the neighborhood; use well-positioned signs to attract potential buyers; offer comprehensive fact sheets and brochures; maximize the curb appeal of the home; show a clean home with no clutter; bake cookies or light a scented candle before the open house; allow the sun to shine in.
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Progression

The real estate principle of progression is an appraisal term that states that real estate of lower value is enhanced by the proximity of higher-end properties.
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Trulia

Trulia is a real estate search engine that helps you find homes for sale and provides real estate information at the local level to help you make better decisions in the process. In addition to home searches, Trulia offers lots of data, such as neighborhood trends and school statistics, as well as advise, opinions and Q&As. Learn more at Trulia.com.
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Gentrification

Gentrification is a process in which a neighborhood is transformed from low-value to high-value properties. This occurs when affluent buyers purchase and rehabilitate older urban properties creating a revitalization cycle. The resulting increases in housing prices sometimes lead to displacement of long-time neighborhood residents.
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