Cheryl Nightingale - Monarch Realty Group, LLC

If you've seen the Tom Hanks classic movie, "The Money Pit," you know that while it's funny happening to someone else, when your fixer-upper home becomes a money pit, it's more like a horror movie. If you're looking for a new property and considering an underpriced fixer-upper, you could end up with a nightmare full of endless home repairs. Here are some ways to make sure your Bourne home-buying reality doesn't become the stuff of movies and cost you more money than you bargained for. Start With A Solid Foundation One of the most important components of a home, it should stand on a solid foundation: a steel-reinforced, concrete perimeter foundation wall, and footing. The foundation should be straight and square—if you notice leaning or bulging in places, the structure could be compromised. In the basement, check for large cracks or gaps in the foundation walls.  Large, V-shaped cracks could be a sign that the home needs extensive foundation...

You hear it on the news all the time: "It's a buyer's market," "It's a seller's market," or "The housing market is on the rebound." And while you probably get the gist of what these folks are talking about, having a deeper understanding of the housing market and how it works can help you immensely during the home-buying or selling process.  Let's start with the basics The housing market refers to the general market of houses being bought and sold between buyers and sellers. These houses are either bought or sold directly by owners or indirectly through brokers. Like any market, the housing market is governed by the law of supply and demand. When demand is high and supply is low, the market appreciates. When demand is low and supply is high, the market depreciates. How inventory affects value In the real estate industry, we think of supply and demand in terms of available inventory. You can measure inventory by answering the...