Good House Hunting Tips

Once you know how much money you can borrow and have an estimate of your closing costs, you'll know the price range you can afford. You might already have your "dream home" in mind. Perhaps you want to settle down in a particular neighborhood, or maybe you just need more space for your growing family.

Even if you know exactly what you're looking for, the house hunting process can be overwhelming. It takes time.

Here are some good house hunting tips:

• Take pictures inside and outside the home.
• Bring a spouse, family member, or friend.
• Make sure the house fits into your budget.
• Ask about utility and maintenance costs.
• Think of commuting time and costs.
• Compare what you'd like to have against what you really need.
• Consider your monthly budget - can you afford the renovations and maintenance that you'll need to do?
• Don't make a "spur-of-the-moment" decision.

Source: Freddie Mac (www.freddiemac.com)

For more information and to view recent property listings, please visit www.byownermls.com.

Guide to State Real Estate Laws and Regulations

Real Estate Laws in Your State

Click a state to learn about laws or regulations affecting competition in real estate.

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas

Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina

North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

For more information and to view recent property listings, please visit www.byownermls.com.

Estimated Median Home Sales Prices (1998-2007)

Median Home Sales Prices, 1998-2007

• Median home prices are from “U.S. Housing Market Conditions,” U.S. Department of Housing and Urban Development. Home prices are a weighted average of new and existing home prices, based on annual sales.
• Median home prices are converted into 2006 dollars with the consumer price index for all goods for urban consumers (CPI-U) from the U.S. Bureau of Labor Statistics.
• 2007 home prices are based on the first half of 2007.

Source: United States Department of Justice www.usdoj.gov

Estimated Median Commissions Paid by Consumers (in 2006 dollars)

This graph shows the median commission paid by consumers for these years:

Median Commissions Paid by Consumers, 1998-2007

• Inflation-adjusted median commission fees are calculated by multiplying commission rates (from REAL Trends 500©) by inflation-adjusted median home prices.
• The 2007 commission rate is assumed to be equal to the 2006 commission rate.

Source: United States Department of Justice www.usdoj.gov

ByOwnerMLS.com Top Cities, States and Properties for September 2007

Most Popular*

Top Cities 1. Chicago, IL 2. Virginia Beach, VA 3. Fort Lauderdale, FL 4. Louisville, KY 5. Philadelphia, PA 6. Atlanta, GA 7. Tampa, FL 8. Raleigh, NC 9. Houston, TX 10. Brooklyn, NY		Top States 1. Florida 2. North Carolina 3. Texas 4. Georgia 5. New York 6. New Jersey 7. Virginia 8. Pennsylvania 9. Illinois 10. Tennessee		Most Viewed Properties 1. Single Family - $194,500 - Basehor, KS 2. Log Cabin - $219,000 - Morganton, NC 3. Acreage/Land - $140,000 - La Follette, TN 4. Log Cabin - $219,000 - Towanda, PA 5. Log Cabin - $499,000 - Cass, WV 6. Single Family - $190,500 - Buford, GA 7. Log Cabin - $45,000 - McVeytown, PA 8. Log Cabin - $195,800 - Cuba, NY 9. Farm/Ranch - $199,500 - Creston, NC 10. Log Cabin - $119,500 - Viroqua, VI
*Based on property views on ByOwnerMLS.com in September 2007.

For more information and to view recent property listings, please visit www.byownermls.com.

DOJ launches Web site on real estate competition

DOJ launches Web site on real estate competition
The U.S. Justice Department's Antitrust Division today launched a new Web site focused on competition in the real estate industry that includes charts on real estate commission costs and potential savings from low-cost real estate brokerage companies. The new website is located at www.usdoj.gov

How to Contact the Antitrust Division
If you have questions or comments about competition in the real estate industry or if you have information concerning anticompetitive conduct, e-mail the Antitrust Division.