5 big mistakes to avoid when choosing a neighborhood

So you’ve found your dream home — but what about the community around it? If you make one of these common blunders, that home may not be so great after all.

Buyers spend months combing through real-estate listing sites looking for that perfect home: the dwelling that fits their budget and their dreams of a better lifestyle.

But how much time do they spend looking at the area around it? Not nearly enough, says Andrew Schiller, founder and CEO of NeighborhoodScout.

“Most people focus on the house … and only secondarily look at the neighborhood. It should actually be the reverse,” Schiller says.

You can have a glorious house, Schiller says, but you will find your lifestyle suffering if the neighborhood isn’t a good fit. The people, amenities, schools and a host of other factors are what help determine whether you’re living the American dream or just living.

Here are the five biggest mistakes people make in choosing a neighborhood, as well as some tips on scoping out your next community…

5 Steps to First-Time-Buyer Happiness

The first step in the home-buying process is to find out what you can afford to pay for a house, condo or co-op. This will depend on the amount of cash you have available for a down payment, your credit, income, assets, and overall financial situation. Mortgage qualification is easier for buyers who work as …

Continue reading ‘5 Steps to First-Time-Buyer Happiness’ »

6 smart steps every new homeowner should take

As you take the leap into homeownership, be sure to consider these practical concerns. What could be more exciting than taking the leap from renter to first-time homeowner? You can turn the key in a lock that no landlord has access to, read in a hammock in your own backyard and paint your dining room …

Continue reading ‘6 smart steps every new homeowner should take’ »

HOPE NOW Celebrates 4 Years, Releases November Data

HOPE NOW, the industry alliance of mortgage servicers and other professionals, investors, and counselors, completed its fourth year in existence in 2010. The alliance includes companies such as Bank of America, GMAC Mortgage, and Wells Fargo. The organization’s latest market report estimates 1.65 million homeowners received permanent loan modifications from January to November 2010. In …

Continue reading ‘HOPE NOW Celebrates 4 Years, Releases November Data’ »