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As a fairly general rule, homes appreciate about five percent a year. Some years will be more, some less. The figure will vary from neighborhood to neighborhood, and region to region.

Don’t Move Money Around – When a lender reviews your loan package for approval, one of the things they are concerned about is the source of funds for your down payment and closing costs.

When an individual’s income starts growing and they manage to set aside some savings, they commonly experience what may be considered an innate instinct of modern civilized mankind.

RECESSION AND EXPANSION – are times when the economy is brisk and everyone feels confident about his or her prospects for the future. As a result, they spend money. People eat out more, buy new cars, and … they buy new homes.

DETERMINING YOUR OFFER PRICE – When you prepare an offer to purchase a home, you already know the seller’s asking price. But what price are you going to offer and how do you come up with that figure?

Since you have toured the property you are interested in, you should know how it compares to the general neighborhood.

Once you find the home you want to buy, the next step is to write an offer – which is not as easy as it sounds. Your offer is the first step toward negotiating a sales contract with the seller.

EXTRA COSTS FOR THE SELLER – If you are obtaining a VA or FHA loan in order to finance your purchase, you must include that information in your offer.

DOWN PAYMENT – Most buyers do not have enough cash available to buy a home, so they need to obtain a mortgage to finance the purchase.

DISCLOSURES FROM THE SELLER – Although you have toured the property, looked at the walls and ceiling, turned on the faucets and played with the light switches, you have not lived in it.