The 106 Common Mistakes Homebuyers Make (& How to Avoid Them), 2nd Edition |
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| Title: | The 106 Common Mistakes Homebuyers Make (& How to Avoid Them), 2nd Edition |
| Author: | Gary W. Eldred |
| Publisher: | John Wiley & Sons [Website] |
| Type: | Book / Paperback |
| Publication Date: | 13 February, 1998 |
| ISBN / ISBN-13: | 0471199990 / 9780471199991 |
| List Price: | $16.95 |
| You Save: | $14.03 |
| Amazon Price: | $2.92 (via Amazon marketplace seller) |
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Editorial Review / Publisher's Information:
Product Description
All the information first-time homebuyers need to understand and avoid the 106 common mistakes in purchasing a home or condo . . . Written especially for first-timers, this eye-opening guide turns you into an educated consumer, ensuring that the home or condo you buy is both a comfortable place to live and an investment that steadily appreciates in value. Compiled from the experiences of hundreds of homebuyers, real estate agents, home builders, and mortgage lenders, it alerts you to the 106 common mistakes in home buying, illustrates them in practice, and shows how to prevent them from happening to you. Now revised and expanded, this invaluable resource covers everything from negotiating with sellers and making the down payment to shopping for the best mortgage and handling the closing. Discover how to save time, money, and frustration by avoiding: - Mistake No. 20: We thought we could make higher returns investing in stocks.
- Mistake No. 36: The sellers named the price, we named the terms.
- Mistake No. 72: We thought our agent represented us.
- Mistake No. 74: We didn't know we could withdraw our offer.
- Mistake No. 83: We pushed to get the absolute best deal we could.
- Mistake No. 105: We didn't buy. We were afraid of making a mistake.
Written by one of the nation's leading real estate experts and packed with hundreds of valuable tips and suggestions, The 106 Common Mistakes Homebuyers Make, Second Edition is the book to have for a smooth, successful, and emotionally rewarding homebuying experience. GARY W. ELDRED, Ph.D., has been involved in hundreds of real estate transactions as a buyer, seller, and consultant during the past 20 years. Nationally known for his Stop Renting NowTM seminars, Dr. Eldred currently serves as the Executive Director of the National Initiative for Home Ownership. He has also held faculty positions in real estate at Stanford University, the University of Illinois, and the University of Virginia. He is the author of Yes! You Can Own the Home You Want and co-author of Investing in Real Estate, both published by Wiley.
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Customer Reviews:
• Very Concise
02 December, 2009
Very easy to use. The edition is a bit outdated and doesn't have insights from the more recent mortgage crisis. However, it is very easy to look at the contents in the front and zoom in to exactly what you are looking for.
- Amazon Customer Review
• We're In The Market To Buy A House And Found This Book To Offer Excellent Advice!
09 March, 2010
This book and another I just read, "Homebuyers Beware: Who's Ripping You Off Now? - What You Must Know About the New Rules of Mortgage and Credit" are essential purchases for homebuyers. I love the layout of this one; it's in a question-and-answer format with questions that the author -- Gary Eldred -- has obviously dealt with over his twenty-plus year career.
Whether you're a buyer trying not to get fleeced, or a real estate broker trying to learn as much as you can to be successful and protect your client - this book is essential reading. Each bit of wisdom is presented in the form of a "mistake," with the important points to be conveyed offered as "good advice" or what he would advice to be done instead in the future.
What are some of the "mistakes"? Well, here's a sample: "No bank will give us a mortgage"; "We know exactly what we want"; "We bought becasue we were tired of looking"; "We liked the house on Elmwood, but our furniture wouldn't work there"; "We though we could make higher returns in the stock market"; "IBM never lays anyone off do they?"; "The appraiser didn't tell us that home prices were going to fall"; "We never saw the railroad tracks"; "The sellers named the price, we named the terms"; "When we bought our house, the land across the street was a cornfield." And -- so forth -- with 106 "mistakes" discussed in all.
All practical, good questions/issues with good thoughtful answers that just might save you a few thousand bucks!
R. Neil Scott
Middle Tennessee State University
- Amazon Customer Review
• Mistake 107: Relying On This Book As Your Only Guide To Home Buying.
22 February, 2010
I stopped counting about half way through but the author is right on! with at least 2/3 of his responses to common mistakes. He is a good writer and illustrates his writing with good real life examples. But his over-zealous belief that home buying is right for everyone regardless of personal and financial circumstances makes the book a dangerous one for wannabee home buyers to read if they fall into the category of prospective buyers who are not ready to buy a home.
What makes me particularly uncomfortable is that he says the greatest mistake of all is not buying a home. My experience tells me that the greatest mistake of all is buying a home when you are not ready to buy a home. Some people are not ready personally. They are not mature enough to put home ownership in perspective. Others are not ready to discipline themselves to the life-style constraints of home ownership. Still others have too much going on in their lives that produces stress to add the burden of buying a home (better to wait until some of the major stressors in their life are resolved). Finally, there are prospective buyers who simply are not financially ready to buy a home. Their FICO score is in the pits; they have no savings for down payment or closing; their income will not cover their current debts plus the payments on a mortgage; and the wise buyer's agent is obligated to tell them they should wait.
Given the experience of the past three years with millions of homeowners losing their home to foreclosure, I believe it is irresponsible to encourage buyers who are turned down for a loan to keep looking for someone who will finance them.
John Cleek, Ph.D., REALTOR®/Buyer's Agent and Author, Seven Steps to Home Ownership
- Amazon Customer Review
• Seriously Out-of-date
23 July, 2008
This is one of those people who should have to eat every copy of their book sold. Most of the first few reasons detail why buying is better than renting (not always true; us California renters are laughing now at the people who bought 2-3 years ago) and how you can finance a home with zero down and bad credit (and get the taxpayers to insure your bad debt.) The latest edition was published in 2006, at the very precipice of the housing price spiral we're all riding down, down, down with no bottom in sight. It's the irresponsibility of advisors like this that got us into this mess; do yourself -- and the economy -- a favor and skip this one.
- Amazon Customer Review
• Great Idea
25 February, 2010
I liked the layout of the book, you can open any page and start reading about various mistakes and how you can avoid them. There are categories, and related items are grouped together. I would highly recommend this book.
- Amazon Customer Review
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