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Learn Best Home Buying Techniques

A guide by Terry W. Sprouse "Author, Storyteller, Lincoln-ologist" (Tucson, Arizona)

Products sampled from this guide:
Why Buy a House?

Owning a home is one of the best investments anyone can make. Don't expect to get rich by being a renter. The U.S. Federal Reserve Survey of Consumer Finances reports that in 2004 the average renter had a net worth of $4,000 while the average homeowner's net worth was $184,000. In addition, homeowners have the comfort of knowing that they are building equity and living in a place that belongs to them. They can plant trees, paint rooms, build a wall, and no one can stop them, or raise their rent. If you rent for 30 years at $1,000 a month you could have spent over $350,000, and wind up with no house.


Ways to Buy a House and get a Good Deal

1. Buy a house where you can add value, such as fixer-uppers. Some sellers don't bother to clean up properties before putting them on the market. This often requires them to accept a lower price, and allows you great ammunition to negotiate a better deal. Painting, replacing old carpeting, replacing old appliances or doing some landscaping, are things that most people can easily do to make a fixer-upper look like Cinderella.

You can also buy a property with enough land, and with zoning, to allow you to build a rental property in the back. Or, you might have a larger house where you can convert one room, one section, or a basement, into a rental.

2. Buy when others are selling. When the economy is slow, and unemployment rates go up, people purchase fewer houses and prices go down. You will have less competition from other buyers and more houses to chose from.

3. Buy from motivated sellers. If you view enough houses, eventually you will cross paths with someone who is highly motivated to sell. They may need to move, or need cash for a new house that they bought befoe they sold their old one, or for a variety of personal financial problems. How do you know if someone is motivated? Ask a lot of questions!

4. Buy during the holiday season when sales are slow. Hardly anyone looks to buy a house around Christmas time. It's another opportunity to buy with less competition from other buys, and from motivated sellers.

5. Learn to negotiate. One good way to be a good negotiator is to be in a position where you don't have to buy. Be patient and be willing to walk away from a deal that doesn't suit your fancy.

6. Buy in a nice area. If you buy in the right area, you greatly increase your chances for a lifetime of increasing equity in your house.

Below area some good books to get you started on the right path.Start Late, Finish Rich: A No-Fail Plan for Achieving Financial Freedom at Any Age (Finish Rich Book Series), Home Buying For Dummies, 3rd edition, How to Buy a Home When You Can't Afford It, The Complete Idiot's Guide to Buying and Selling a Home, 5E, Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-up & Rental Business in Your Spare Time; or, Investing in Real Estate and Creating Wealth with Fixer-Upper Houses,Creating an Accessory Apartment,
How to Save Thousands of Dollars on Your Home Mortgage, 2nd Edition,10 Steps to Home Ownership: A Workbook for First-Time Buyers,100 Questions Every First-Time Home Buyer Should Ask: With Answers from Top Brokers from Around the Country,Home Buyer's Checklist: Everything You Need to Know--but Forget to Ask--Before You Buy a Home,How To Buy Your First Home, Second Edition,The 106 Common Mistakes Homebuyers Make (& How to Avoid Them),Buy Even Lower: The Regular People's Guide to Real Estate Riches (Regular Riches)Homebuyer's Kit,Secrets of Power Negotiating: Inside Secrets from a Master Negotiator,The Only Negotiating Guide You'll Ever Need: 101 Ways to Win Every Time in Any SituationInfluence: The Psychology of Persuasion, Revised Edition,Negotiating For Dummies, Saving the Deal: How to Avoid Financing Fiascoes and Other Real Estate Deal Killers, Inspecting a House (For Pros By Pros), The Complete Guide to Your Real Estate Closing: Answers to All Your Questions - From Opening Escrow, to Negotiating Fees, to Signing the Closing Papers, No Credit Required (Revised Edition): How to Buy a House When You Don't Qualify for a Mortgage, Marketopoly - The Definitive Guide to Beating The Real Estate Recession and Winning at The Game of Investment Real Estate, The Smart Consumer's Guide to Home Buying (Barron's Smart Consumer Guides), How to Create Multiple Streams of Income: Buying Homes in Nice Areas With Nothing Down, Before You Buy!: The Homebuyer's Handbook for Today's Market,

Products mentioned include:
1.  Start Late, Finish Rich: A No-Fail Plan for Achieving Financial Freedom at Any Age (Finish Rich Book Series)  by David Bach
$11.84 Used & New from: $0.01
4.2 out of 5 stars   (162)
Add to cart  Add to wishlist
2.  Home Buying For Dummies, 3rd edition  by Eric Tyson
Used & New from: $0.01
4.4 out of 5 stars   (113)
  See buying options  Add to wishlist
3.  How to Buy a Home When You Can't Afford It  by Robert Irwin
$15.15 Used & New from: $0.01
3.9 out of 5 stars   (8)
Add to cart  Add to wishlist
4.  The Complete Idiot's Guide to Buying and Selling a Home, 5E  by Shelley O'Hara
Used & New from: $0.01
4.3 out of 5 stars   (9)
  See buying options  Add to wishlist
5.  Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-up & Rental Business in Your Spare Time; or, Investing in Real Estate and Creating Wealth with Fixer-Upper Houses  by Terry W. Sprouse
$14.00 Used & New from: $9.36
4.3 out of 5 stars   (46) | 1 customer discussion
Add to cart  Add to wishlist
6.  Creating an Accessory Apartment  by Patrick H. Hare
Used & New from: $0.01
  See buying options  Add to wishlist
7.  How to Save Thousands of Dollars on Your Home Mortgage, 2nd Edition  by Randy Johnson
$19.79 Used & New from: $0.01
4.8 out of 5 stars   (36)
Add to cart  Add to wishlist
8.  10 Steps to Home Ownership: A Workbook for First-Time Buyers  by Ilyce R. Glink
Used & New from: $0.01
4.3 out of 5 stars   (14)
  See buying options  Add to wishlist
9.  100 Questions Every First-Time Home Buyer Should Ask: With Answers from Top Brokers from Around the Country  by Ilyce R. Glink
$17.31 Used & New from: $0.01
4.3 out of 5 stars   (77)
Add to cart  Add to wishlist
10.  Home Buyer's Checklist: Everything You Need to Know--but Forget to Ask--Before You Buy a Home  by Robert Irwin
Used & New from: $0.01
4.3 out of 5 stars   (9)
  See buying options  Add to wishlist
11.  How To Buy Your First Home, Second Edition  by Diana Brodman Summers
Used & New from: $0.01
4.4 out of 5 stars   (5)
  See buying options  Add to wishlist
12.  The 106 Common Mistakes Homebuyers Make (& How to Avoid Them)  by Gary W. Eldred
Used & New from: $0.01
4.1 out of 5 stars   (61)
  See buying options  Add to wishlist
13.  Buy Even Lower: The Regular People's Guide to Real Estate Riches (Regular Riches)  by Scott Frank
Used & New from: $0.01
4.2 out of 5 stars   (8)
  See buying options  Add to wishlist
14.  Homebuyer's Kit  by Edith Lank
Used & New from: $0.01
5.0 out of 5 stars   (3)
  See buying options  Add to wishlist
15.  Secrets of Power Negotiating: Inside Secrets from a Master Negotiator  by Roger Dawson
Used & New from: $0.01
4.7 out of 5 stars   (170)
  See buying options  Add to wishlist
16.  The Only Negotiating Guide You'll Ever Need: 101 Ways to Win Every Time in Any Situation [Kindle eBook]  by Peter B. Stark
$9.99
4.3 out of 5 stars   (17)
  See buying options  Add to wishlist
17.  Influence: The Psychology of Persuasion, Revised Edition  by Robert B. Cialdini
$10.16 Used & New from: $5.82
4.5 out of 5 stars   (891) | 10 customer discussions
Add to cart  Add to wishlist
18.  Negotiating For Dummies  by Michael C. Donaldson
$16.86 Used & New from: $2.84
3.7 out of 5 stars   (14)
Add to cart  Add to wishlist
19.  Saving the Deal: How to Avoid Financing Fiascoes and Other Real Estate Deal Killers  by Tracey Rumsey
$15.04 Used & New from: $0.01
5.0 out of 5 stars   (2)
Add to cart  Add to wishlist
20.  Inspecting a House (For Pros By Pros)  by Rex Cauldwell
$20.21 Used & New from: $0.32
4.2 out of 5 stars   (38)
Add to cart  Add to wishlist
21.  The Complete Guide to Your Real Estate Closing: Answers to All Your Questions - From Opening Escrow, to Negotiating Fees, to Signing the Closing Papers  by Sandy Gadow
Used & New from: $1.05
4.3 out of 5 stars   (15)
  See buying options  Add to wishlist
22.  No Credit Required (Revised Edition): How to Buy a House When You Don't Qualify for a Mortgage  by Ray Mungo
Used & New from: $0.01
4.2 out of 5 stars   (9)
  See buying options  Add to wishlist
23.  Marketopoly - The Definitive Guide to Beating The Real Estate Recession and Winning at The Game of Investment Real Estate  by Mark MacKenzie
Used & New from: $395.94
4.9 out of 5 stars   (10)
  See buying options  Add to wishlist
24.  The Smart Consumer's Guide to Home Buying (Barron's Smart Consumer Guides)  by Jack P. Friedman
Used & New from: $0.01
4.0 out of 5 stars   (7)
  See buying options  Add to wishlist
25.  How to Create Multiple Streams of Income: Buying Homes in Nice Areas With Nothing Down  by David Finkel
Used & New from: $0.01
4.4 out of 5 stars   (68)
  See buying options  Add to wishlist
26.  Before You Buy!: The Homebuyer's Handbook for Today's Market  by Michael Corbett
$16.00 Used & New from: $0.01
4.1 out of 5 stars   (14)
Add to cart  Add to wishlist

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Discussion Replies Latest Post
How many copies sold? 0 May 7, 2013
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Best Book on Manipulative and Coercive Psychology 0 Aug 30, 2010
Different from Influence: Science & Practice? 11 Jan 30, 2008
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what practice did you take base these good theory ! 1 Sep 9, 2007
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About this Guide

 

Author

Terry W. Sprouse "Author, Storyteller, Lincoln-ologist" (Tucson, Arizona)
Qualifications: Real estate investor and author
Last updated: 3/4/11
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