Where can I find additional information of housing prices, and where are the affordable markets located? One good source of information is the National Association of Realtors' quarterly report on the median sales price of single-family homes in 147 of the nation's biggest metro areas. The report for the third quarter was released on Nov. 15. (Another is the federal government’s Office of Federal Housing Enterprise Oversite, which measures gains in 265 metro areas).

How can I estimate a selling price for my home, based on price-per-square-foot?
You can calculate the cost per square foot of your home compared to the house selling prices in your area (divide list price by square footage of livable space). If your house has more features or other desirable qualities, you may want to set a slightly higher house-selling price. Your real estate agent or a licensed home appraiser will be able to help you price your home, but it pays off to do your own research.

Do I need a real estate lawyer when I buy a new home?
Even though it's an additional expense, it may be wise to hire a lawyer. An experienced real estate lawyer can help you evaluate complicated offers (those with a variety of conditions), act as an escrow agent to hold the down payment, evaluate complex mortgages and/or leases with options to buy, review contracts and handle your home's closing process. They can also tell you what things, by law, you must disclose to buyers prior to a sale and can also help you avoid inadvertently discriminating against any potential buyers. If you are selling or buying a home with out a real estate agent, you may save a lot of money and problems later on, by consulting a real estate lawyer.

What should I do to help market my home?
Un-clutter your home! Remove bikes, garbage cans and parked cars. Think of furniture as
props and the room a stage. Move things around if you have to. Also, take lots of house photos. Keep the interior and the exterior as neat as possible.

Should I have lawn signs?
Lawn signs are one the most important marketing tools for home sellers. They attract attention to your home. Directional signs also help direct buyers to your property, especially if you do not live on a busy street.

Should I have open houses?
Open houses are a good way to attract buyers to your home. Your real estate agent should conduct on or two open houses. Other agents will come to your open house with prospective buyers, and to familiarize themselves with your property.

What repairs should I make before I put my home on the market?
There are many things that you can do to your home to help increase the sales price. And there are also many renovations that you may actually have a negative return on. Consult with your agent. If your home is ready to move in, and does not need any work, you will probably gat a better price.

What should I do to get my home ready?
Once you have your home ready to show to prospective buyers, ask a friend or neighbor to walk through your house like a buyer would. Get their opinion on how it "shows.”

How can the MLS (Multiple Listing Service)
The MLS can help you market your home, particularly to real estate agents who may know of buyers seeking a property like yours. The MLS is a directory used by real estate agents to announce to other agents that they have a home for sale. If a real estate agent finds you a buyer after seeing your home on the MLS, you usually pay that agent a 2.5% to 3% commission, however all commissions are negotiable.

How do sales negotiations work?
When a homebuyer makes an offer you usually have three days to decide, cancel or amend the offer. Contract law varies from state to state, but typically a contract has to be delivered to the seller, and he has to sign and return the contract to the prospective buyer, in order to have a valid contract. Your states real estate department can provide you with standard contracts. Read the contracts carefully, and consult with your agent and/or attorney.

Should I make a counter offer?
Negotiating is part of the home selling process and most sales involve counter offers. Review counter offers with your agent and/or attorney.

Does the buyer have a right to have my home inspected?
Standard real estate contracts give the prospective homebuyer the right to inspect your property. You might be required to make major repairs to appliances, plumbing, heating and the electrical system, or the buyer may cancel the sale contract. The inspection will also include the property's roof, as well as a termite inspection. In some states, house sellers must provide proof that the home is termite free.

If I am selling my home, should I have an inspection done before I put it on the market?
If you are concerned about how your home will do in an inspection, order an inspection yourself before a potential buyer has one done. You will be able to address the problems before a buyer has an inspection done.

When will the buyer submit his application to the mortgage lender?
Once the inspections are complete, the buyer typically submits his application to a mortgage lender. You will save time in the escrow process if your buyer pre qualifies.

What will the mortgage lender do during escrow?
The mortgage lender will order an appraisal of the home to make sure the buyer is not paying more than the house is worth. The escrow company may also order a surveyor to make sure that the property boundaries are laid out properly. And a title search will be done to determine if there are any liens or encumbrances against your property. Making sure these tasks occur, are the responsibility of the buyer, their agent and/or attorney.

When should I call the utilities to let them know when I will move out of my home?
After a closing date has been agreed to, you should contact your utility providers and
advise them of your final billing date.

What will occur on the day of the closing?
On the day of the closing, the home's buyer will do a "walk through" of the property to make sure all agreed repairs are completed and that the home is in the same condition as when the buyer made her offer.

How many days will closing escrow take?
Closings escrow usually takes 30 - 45 days from the date you signed the sales contract.

Who will accompany me at the closing?
Depending on what state you reside in, you may close with an attorney, or with a title company.

What will occur at the closing?
At the closing, all monies will be collected, any existing loans or liens will be paid, the deed will be transferred, and insurance will be issued insuring a free and clear title. The home seller will receive the proceeds from the sale of her home in one to two business days after the closing.