Part 1: FAQ?s From Media Interviews With Real Estate Author

Do you feel there is going to be a real estate bubble?

Nash: No. Are some coastal and resort markets over-heated, yes. I don't feel that markets will collapse. But investors and property owners should be ready for longer market times, diminishing over-full-price and multiple offers in over-heated markets. Prices could plateau and appreciation levels will hover at more historical levels. If you live out-of-town from where you purchased property on appreciation speculation, I would keep in very close contact with a un-biased professional in the market, daily.

Have real estate appraisers contributed to the rapid increase in home prices?

Nash: Not necessarily. You have to understand their role in a real estate transaction. They are hired by the mortgage lender to appraise the property. The homebuyer pays for the appraisers services. The lender is in business to lend money and the real estate brokerages want to close the transaction and receive their fees. In most markets there are solid closed comparable properties that justify underwriting the loan. In rapidly appreciating markets, where there are no closed comparables to support the new value, all the participants in the transaction should be aware that there is risk involved in the new value assigned to a property in a real estate contract.

What should homeowners and investors do to protect themselves from a potential bubble?

Nash: Look for incentives by builders on completed new construction buildings or homes; this indicates an over-supply of new units. Research days on market or the length of time of property has been on market. If the typical time recently has been 30 days for sold properties and current market times for the majority of sold properties are 60 or more days, the market is softening. Home prices and mortgage rates effect each other, as interest rates drop, the more buyers can afford to pay for a home, but as rates rise buyers can afford less of a purchase price. Watch interest rates as an indictor of deflating prices.

What is your position on interest only loans?

Nash: Consumers need to look at the long-range implications of interest-only loans. They should keep in mind that if their home value declines, they still owe the loan amount, which could be higher than their homes market value when they sell. If appreciation remains low, in the two to five percent range and the cost to use a full-service real estate company to sell their home is five to seven percent, their appreciation will actually go to pay selling and marketing costs, ouch!

What do you think about two new books:" Irrational Exuberance" and "Freakonomics" that touch on residential real estate?

Nash: Both make solid contributions for real estate consumers and investors in today's environment. Everyone is looking for information to make real estate decisions. While there are many inflammatory headlines, I've found the majority of the accompanying dialogue; offer good market and real estate practices advice.

The term Realtor® is generic to most consumers but are all real estate agents Realtors®?

Nash: No and the National Association of Realtors® (NAR) is diligent on protecting it's status as an registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics. NAR has approximately 1.1 million members, while industry sources state there are about an additional 1.4 million real estate agents not members of NAR.

What housing style will be hot in five years?

Nash: The ranch. As the boomers age they'll go from the two-story "I've arrived" colonial to the "I've retired" ranch. Five years ago ranch homes were not that popular and languished on the market in some areas. This last year several clients looking towards retirement and downsizing have asked to see only ranch homes.

Why did you write your fourth real estate book "1001 Tips for Buying and Selling a Home"?

Nash: I wanted to focus on informing the consumer to understand the questions to ask the other participants in their next real estate transaction. I ask questions like, "What is dual agency?" and "Are you being served if your agent is a dual agent?" I explain the back end of the real estate business, which is important if you as the consumer want to manage the front end of it, i.e. your transaction.

Why is 1001 Tips different from other "how-to" real estate books?

Nash: Early on my publisher wanted the book real simple. Its style is numbered tips with an explanation in bullet-points. Editorially light, but not real estate light. The reader can pick it up and put it down and grasp each tip without having to read four additional paragraphs. Plus I've been through many transactions as a real estate broker and understand what the buyer or seller needs to know in their transaction before they walk out of closing or escrow. With home prices today, consumers should demand to know.

Is location, location, location a cliché in real estate today?

Nash: Location, price, risk.

Mark Nash author of 1001 Tips for Buying and Selling a Home has shared his real estate insight with CBS The Early Show, Bloomberg TV, Dow Jones MarketWatch, Universal Press Syndicate. 1001 Tips is Mr. Nash's fourth real estate book. His tips for consumers are drawn from real world experience as a broker in Chicago.

---

How To Go About Selling Your Home On Your Own

In days of booming real estate, you would think that... Read More

10 Tips to Sell Your House Faster!

Here are some Handy wee Tips to help you Sell... Read More

Property Investment - What Future For the Biggest Bubble of All Time?

The Economist magazine published a special report in this months... Read More

Panama is Hot - A World Class Retirement Haven Thats Ripe For Profitable Real Estate Investment

If you've followed any of the major survey agencies around... Read More

Before You Buy A House ? Top 10 Tips

There are serveral things you need to think about and... Read More

Buying Your First Investment Property

"Begin With The End In Mind"I first heard the phrase... Read More

Kings Bay, Saint Marys and Kingsland Georgia Real Estate - Mortgage Lenders

When looking for a home, it is important to first... Read More

How Much Should I Pay For This House?

We probably answer this question for someone a couple times... Read More

Should You Buy Hud Homes?

Buy HUD homes are sometimes the cheapest option available for... Read More

Real Estate Investing ? The First House Purchase

Real estate investing usually begins with the purchase of a... Read More

High Tension for the Buyer and Seller of Real Estate Can Be Reduced

Tensions can run high in both the selling and buying... Read More

Home Hunting and the Internet

So, it's home hunting time. Where do you start? Who... Read More

First Impressions Will Sell Property Fast!

First impressions count, buyers will have already formed an impression... Read More

Real Estate Investing in Rentals ? the $10 Million Real Estate Investing Mistake

Renting to tenants is no longer "where the money is"... Read More

Follow-Up - The Key To Successful Closings

If everyone always did everything they said they'd do, we'd... Read More

Real Estate Research By Talking

Real estate research might start with a look at the... Read More

Home Not Selling In Todays Hot Market? Tips and Ideas to Help You Sell

So, your selling your home. Prepare yourself both physically and... Read More

Best Time to Buy? Best Time to Sell?

When is the best time to buy? When is the... Read More

You Dont Need Health Insurance!

Seems almost every situation in our lives is centered on... Read More

Real Estate Investing - Protect Your Privacy

An irate tenant or disgruntled home-buyer, with the help of... Read More

Condo Hotels Offer Luxury and Great Investment Potential

Not Your Typical Vacation HomeWhat could be more perfect that... Read More

A Real Estate Primer

There are a great many books and web sites devoted... Read More

Buying Property In Spain

It's high time someone advocated the use of common sense... Read More

Create a Great Webpage to Sell Your Home

The majority of people in the UK who are looking... Read More

You Wanna Get High With Me?

Being a home inspector is great. It's fun, it's interesting,... Read More

How to increase the Saleable Value of your Home

When selling your home, you'll want to fetch the best... Read More

Why A Final Inspection Is Necessary

In the sales contract, the sellers of your new home... Read More

The Person With The Most Money Wins!

More money can mean better:- Health Care - Relaxing... Read More

Real Estate Investing Is A Better Gamble Than The Lottery

Real estate investing begins when you move to the starting... Read More

Virtual Agent? Online Real Estate

When preparing to sell a house, you should always consider... Read More

The Devine Secrets Of The Ya Ya Lease Purchase Hood

The biggest secret of conducting a successful lease purchase business... Read More

Sell Houses Fast & Top Dollar: Design Psychology

How would you like to start a bidding war for... Read More

Buying and Selling Distressed Houses for Maximum Profit (Update)

If you want to become a real estate investor, find... Read More