If you own your own home, you will be required to carry home insurance by your financing company. However, the same is not true when you rent. The choice is yours whether to get renter’s insurance or not, and the initial impulse may be to see it as an unneeded expense. Like any insurance, renter’s insurance is a risk management tool that isn’t going to produce a benefit, unless you suffer a catastrophic loss. Therefore, the choice to pay insurance for your apartment may seem like it’s not a good deal, until you realize that relative to the premiums, the coverage is actually quite good. You can even choose to pay it all ahead of time, funding it with a paycheck advance to cover you for the entire year. (more…)

Selling a home in today’s market can be tough. Sellers are picky, you’re competing against newer homes, and financing is a bear. The first step, obviously, is to entice a buyer to make a bid, without that, you’ll never get to closing. For the cost of a few hundred dollars, about the same as a pay day loan, you will be able to transform your house from a runner-up to a winner in the real estate game. (more…)

Thinking of moving? Not quite ready to drop 20% on a new home you can call your own? Whatever your reasons for deciding to get a new apartment, the costs of moving need to be taken into account in your budgeting. If you’re moving to escape a rent increase, it may surprise you to find that the increase can be far less than the cost of moving. (more…)

The Case-Shiller index may have good news for homeowners recently, with a rise of 1.4 percent in housing prices in the first quarter. That’s not as good news as it is for homebuyers, however, since the over all drop in housing prices is 15% since the same quarter last year. What this combined set of data shows is that we may be turning the corner in some housing markets. If you’ve wanted to buy in some of the most expensive neighborhoods 2008, in 2009 you may finally get the chance of lifetime. Prices are low, you have an $8,000 credit being offered by the federal government, and housing prices are starting to rise. The bottom may be here, if not, it’s very close. (more…)

There is some good news during this recession. If you’re in your mid to late 20’s, have a job, and are looking for a home, there are some great real estate deals out there. Securing a mortgage may be tougher, but banks are keen to make sure you can maintain the mortgage, leaving you less open to defaulting. Getting into a starter home is probably easier than it has been in years, as long as you have a good credit rating. The down payment may be 10%, but over all prices have depreciated significantly in many markets making housing more affordable for many young people starting out. (more…)

While there might still be a few advisors on television telling everyone that the housing market is doing splendidly, it seems that everyone has finally begun admitting that there is truly a crisis brewing. House market predictions made in the last year have generally been kinder than reality, and many places are seeing significant declines in property values. It is a global problem as well, not just here in the U.S. (more…)

The current fluctuations in the market make specific predictions difficult but with economic difficulties expected to extend throughout 2009 and recovery not expected until 2010, housing prices are expected to continue a downward decline throughout 2009. This is generally viewed, understandably, as a negative trend by homeowners as it impacts their ability to borrow against the value of their home. The nature of free market economics, however, define the current situation as a buyers market, which means that the advantage has passed from the owner to the buyer. Of course, the simultaneous credit crunch that has affected the nation has made purchasing homes more difficult than it was during the real estate bubble that has defined the last several years. (more…)

There are a few reasons why some parts of the United States are simply a safer investment than others, where the market is nearly always robust enough to survive the economic ups and downs that destroy other real estate markets. A diverse mix of income sources and companies to provide steady employment, zoning and urban plans that don’t allow for wild building frenzies and a tendency not to attract sudden influxes of people moving in are just some of the factors, and Forbes has used all these criteria and more to create a list of five US real estate markets that they think have longevity. If your real estate investment is in any of these five cities, you can consider yourself pretty fortunate (or smart!):

• Seattle, Washington: because there’s still been good job growth and no out-of-control building
• Washington, D.C.: in part, because it has the lowest unemployment rate in the whole country
• San Antonio, Texas: with good job growth and not too much building
• Minneapolis, Min: because it didn’t go crazy with a boom and has a strong base of manufacturing and multinationals
• New York, N.Y.: because there was no crazy building boom - there’s nowhere left to build - and it has the lowest accommodation vacancy rate of all cities

You might think that all real estate prices have done lately is fall, and fall some more. But the end of year statistics say otherwise: in every corner of the United States there are areas where real estate values fell but also some where the values stayed the same or even rose.

Here are a few examples that might get you thinking about where you might want - or not want - to invest in real estate in the coming year:

• California: The vineyard city of Soledad soared during the boom and came down with a thumping crash, with real estate values falling nearly 40% there during 2008. On the other hand, technology-loving Palo Alto saw homes increase in value about 4% - not bad at all.
• Georgia: Gainesville didn’t have gains at all in 2008: this northeast Georgian city saw real estate prices slump by over 20%. But in the same state, a suburb of Augusta called Martinez had prices rise over 4%.
• Alabama: Things weren’t too bad anywhere in Alabama, with the worst real estate record of 2008 going to Alabaster - but this fall in value was just over 2%. In Montgomery, home values rose more than 5% for the year.
• Arkansas: On the other hand, everybody lost out in Arizona during 2008. In Springdale, homeowners saw the value of their properties fall on average more than 27%, and the best performance was in Sierra Vista where prices still fell, but by just over 4%.

Now might be a terrible time to sell your home, but what many people haven’t yet thought of is that it’s actually a great time to renovate your home.

For a start, the costs of many materials needed in renovation jobs has fallen. This is particularly true for exterior projects like replacing your roof or repaving the driveway.

On top of that, the fees being charged by contractors are falling as they fight for the fewer jobs available. Apparently most will discount their fees by at least ten per cent just for the asking, and many by more.

And while the experts are saying that it will now take a little longer before you can recoup the entire value of your renovation in selling your home, as long as you’re not planning on selling immediately you’ll still be winning by enjoying the many benefits of renovations. A smart one at the moment is replacing windows, a project which is high on the list of improvements whose value is quickly recouped and at the same time, will save you money on heating and cooling costs.

Other home renovation projects that the experts recommend right now include remodeling your bathroom and either a minor or major kitchen remodel. Replacing your siding is also a cost-effective move to make at the moment.