When buying a home -- whether it's your first, second, or a getaway vacation home -- you're bound to have many questions. For example, how will you find a home that suits your needs? How much money will you need to afford the monthly payments? And how long will the home buying process take?

Sound familiar? If so, you've come to the right place. Our web site offers a wealth of information about the home buying process. Begin your journey by discovering the benefits of working with a real estate professional. Types of mortgages, how to apply for a mortgage, and finding a lender are a few other factors you should know about before purchasing your dream home.

While the experience can be filled with ups and downs, if you contact us, we'll put you in touch with a qualified real estate professional who will guide you through the entire process.

Selling a Home

When selling your home there are no guarantees that a buyer will simply walk through the front door. In many cases you may have to bring your home to the buyer. Effective marketing will help ensure that your property receives maximum exposure to attract a ready, willing and able buyer.

The appearance of your home, a buyer's first impressions, and other considerations can also affect the sale of your home. Be sure to explore tips for increasing your home's value. Have you considered that home prices in your neighborhood and the value of your property are also factors used for pricing your home?

When you work with a Prudential Real Estate Professional, you can count on a specialist who can answer your questions, apply his or her in-depth knowledge of current market conditions, and access extensive resources that can expedite the sale of your home.

Increasing The Value of Your House

When you're preparing your house for sale, remember the importance of first impressions. The market isn't the only factor that influences whether you get your asking price. Appearance and overall condition play a major role. Here are some easy things you can do to make your home more appealing to buyers.

Outside:

It is estimated that more than half of all houses are sold before the buyers even get out of their cars. So stand across the street from your house and review its curb appeal.

• Sweep front walkway.
• Remove newspapers, bikes and toys.
• Park extra cars away from the property.
• Trim back the shrubs.
• Apply fresh, clean paint throughout.
• Clean windows and window coverings throughout.
• Keep plumbing and all appliances in working order.
• Maintain all sealants (window, tub, shower, sink, etc.) in good condition.
• Make sure roof and gutters are in good condition; no repairs needed.
• Mow the lawn more frequently and plant flowers.
• Keep pet areas clean.

Inside:

• Kitchen and bathroom should shine.
• Quick once-over with the vacuum; carpets should be clean.
• Place fresh flowers in the main rooms.
• Put dishes away, unless setting a formal display for decoration.
• Make beds and put all clothes away.
• Open drapes and turn on lights for a brighter feel.
• Straighten closets.
• Put toys away.
• Turn off television.
• Play soft music on the radio/stereo.
• Keep pets out of the way and pet areas clean and odor-free.
• Secure jewelry, cash, prescription medication and other valuables.
• Enhance the spaciousness of each room. Pack away collectables to allow buyer to envision own furnishings in home.

Important Reminders:

• Potential buyers usually feel more comfortable if the owners are not present.
• If people unaccompanied by an agent request to see your property, please refer them to your real estate professional for an appointment.
• Leave a number where you can be reached if you are leaving town, even for a weekend.

The below Glossary of Real Estate Terms will be updated frequently for your convenience. If there is a term not listed that you would like defined, please request this information.

Lease: A contract transferring the right to the possession and use of real property for a designated period, in return for rent. Lessor: The Landlord. Lessee: The Tenant

Lease/Option: A lease that gives the tenant the right to purchase the property some time in the future during the time of the lease. The purchase price may be predetermined, the tenant gives the landlord non-refundable money for the option, and a portion of the rent is applied toward the purchase price.

Contingency: A condition of the purchase, usually financing or determining the condition of the property. Sometimes a purchase offer contains a contingency on the sale of another property.

Arbitration: An alternative clause in the purchase contract that requires the seller and buyer to settle a dispute through arbitration, rather than the legal court system. Some say that arbitration is less expensive and faster than taking a dispute through the court system.

ARM: Adjustable rate mortgage. This is a home loan whose interest rate fluctuates according to a predetermined index, usually having a set maximum interest rate. One index used is the U.S. Treasury District 11 Cost of Funds. ARM loans usually have a lower starting interest rate as compared to loans with fixed interest rates.

Amortized Loan: A loan, usually with even monthly payments, that is paid off over a set period of time. A 30 year amortized loan is most common for home purchase loans.

Balloon Payment: Typically a loan where the last payment is much more that the other payments. Sometimes a loan has payments of interest only loan and the last payment includes the payment of the whole loan.

Unlawful Detainer: A term for legal action taken against a tenant who has not paid the rent or not performed according to the terms of the rental agreement.

Trust Deed: Literally a deed from the owner/borrower to the lender that the lender can use in the event of non-payment on the loan. The deed is held “in trust” by a trustee named by the lender. In the even of a foreclosure the trustee uses the deed to convey ownership to the person buying the property at the trustee’s sale.

MLS: Multiple Listing Service - a data base of properties listed for sale by all the member brokers in a designated area. The information is shared by all the brokers who then cooperate with each other by allowing other member brokers to sell their properties.