Let's assume you've owned your home for several years. It has increased in value, and the unpaid balance is considerably less than you originally borrowed. In short, you have equity in the home. You're thinking about buying another home, and one of the questions going through your mind is, "should we find a replacement property before we put our home on the market?

Based on the current competition due to lower than average inventories, a seller can find themselves on the beneficiary side of multiple offers. For example, two or more parties may be trying to buy your home simultaneously, and because of the competition, they increase the purchase price, possibly, remove unnecessary contingencies and try to make their offer as attractive as possible.

In the Boy Scouts, a Totin' Chip certification is required for scouts to carry and use woods tools like a knife, axe, and a saw. In addition, they must read and understand the use and safety rules from the scout handbooks and demonstrate the proper handling, care, and use of each.

A successful home sale, considered by many owners, is to maximize their proceeds in the shortest time with the least inconveniences. Just because it is a seller's market doesn't mean that homeowners can shortcut some of the steps that make it happen, and they certainly need to avoid commonly made mistakes.

A well-known professional home stager recently decided to sell the 4,000+ square foot home she lived in with her husband. It was certainly well maintained and, by most standards, could have gone on the market immediately. However, she still went through a full staging effort before she listed the home.

A Seller's equity in their home is the difference between what the home is worth and what they owe. At any point in time, it is an estimation because value is a very subjective term. If the seller thinks the home is worth more than an actual buyer will pay for it, the estimated equity is too high. If a buyer is willing to pay more than the seller believes the home is worth, the estimated equity is too low.

Some homeowners who could not afford to make their mortgage payments this past year were relieved to find out that their mortgage servicer or lender allowed them to pause or possibly, reduce their payments for a limited period. However, while it does relieve the financial pressure, it is a temporary remedy.

Take a minute to imagine what happens when there is not a pre-listing inspection: Typically, the buyer contracts the home with a provision for a professional home inspection. However, the examination may reveal things that the buyer didn't expect. If it doesn't trigger an action to terminate the contract, the buyer will inevitably ask the seller to make all the repairs.

Even in the current low inventory housing market, sellers are resisting the urge to sell it themselves and still seeking the help of a real estate professional. It may be more important than ever, and there is too much at stake to risk going it alone.

Ask any real estate agent, and they will tell you a similar sad story. The seller, whose home just hit the market, received an offer that was less than the list price but felt secure their home would sell quickly and countered for more. But, for whatever reason, the buyer did not continue to negotiate and moved on.

For many people, their home is their largest asset and their best performing investment. The equity in a home is the difference between what it is worth and what is owed. Two dynamics, appreciation and unpaid balance, work in concert to make homeowner's equity grow.

It's been said that more money has been lost due to indecisions than ever was due to making the wrong decisions. Many times, the larger the decision, the more likely procrastination comes into play, and doing nothing will cost something.

There's a little-known provision in the tax code that allows homeowners to rent their principal residence or second home for up to 14 days a year without having to recognize the income. In this situation, the taxpayer does not deduct the rental expenses associated with the income.

A home warranty is a service contract that protects your home's appliances and some systems from repairs or possible replacements.

Credit plays a huge role in getting a mortgage because it's a variable that helps the lender determine the likelihood that the loan will be repaid on a timely basis. Credit bureaus evaluate people's creditworthiness using a FICO score. The higher the score, the better the borrower's credit.

Looking for a simple way to determine if a rental property will give you the rate of return you want? This modified annual property operating data may be just what you've been looking for.

Most homeowners have insurance on their homes that also gives them coverage on their personal property. That's the first level of peace of mind — knowing that it's available to you if there's an unfortunate event such as a burglary, fire, or other insured circumstance.

Some homeowners feel like they may as well throw a dart against the wall to decide whether to move or not. Other people might invoke a process attributed to Benjamin Franklin. Supposedly, to evaluate the options and bring clarity to the choice, this American founding father would list all the reasons for and against the decision on a sheet of paper. After reducing it to writing, the choice would appear either by apparent majority or practicality.

Many homeowners with mortgages pay for both types of insurance, but only one of them protects the owner.

With at least 40% fewer homes on the market currently than there were a year ago, serious buyers have probably experienced the disappointment of losing a home they wanted to buy from increased competition. Today's buyers are looking for ways to improve their odds of being the best contract without having to use the purchase price as their only tool.