By Bruce Whitaker
1. Create a list of what you want before you go shopping. Stick to it. Make sure you do it when you are unemotional. Do you really want a hottub and the maintenance that comes with it?
2. Always think of resale (transportation, parks, schools, crime, neighbors). You might be o.k with the narrow [...]

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By Michael Pezzack

Slight movement down in the 3 year fixed rate to 3.39%. 5 year fixed rate as low as 4.09%. Other than that variable still super low at 2.40% or prime + .15% will suggestions it is going to stay this low well into 2010.
A new report out this week by CIBC World Markets forecasts no giant jump [...]

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When you’re in a hot seller’s market, or there are multiple offers on a property, you might be pressured to make an offer with no inspection. Simply, don’t do it. An inspection will provide you with an escape should the house not measure up. A neighbor of mine recently bought a property without an inspection. [...]

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From our friends at HGTV:
“No one can predict precisely where the market is going, so trying to time your home purchase with the bottom of the market is futile. If you’re financially and emotionally ready to be a homeowner, it’s always a good time to buy. Just think: all the time you spend procrastinating on [...]

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 Lesson #7:
Always get a home inspection. Even if a home looks flawless, it’s a mistake to assume that it’s actually problem-free. All homes have defects. It will help with your negotiations.
Lesson #8:
Select a trustworthy lawyer who will review all the document for you. In a later news item, we will highlight what to look for in the [...]

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Lesson #5:
Ensure that you can afford your home. As a rule of thumb, your mortgage payment should be less than 30 percent of your gross monthly income. You need also to be prepared for the additional costs of homeownership, such as insurance, property taxes, utilities and maintenance. It’s a good idea to look at your [...]

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Lesson #3: 
Before shopping for a home, shop for a neighborhood. Walk several and get a feel for them on both weekdays and weekends and morning, afternoon and night. Figure out how long you want your work commute to be, how close you want to be to amenities like shopping and nightlife, and which school districts are [...]

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Lesson #1: Get a mortgage pre-approval.
Before you start house hunting, narrow down your price range by getting pre-approved. It is a ’good faith’ estimate that spells out the likely terms of your loan, including the maximum amount, interest rate, payment amount and closing costs. The difference between a mortgage pre-qualification and mortgage pre-approval is that a [...]

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