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: | $13.98 |
| Amazon Price: | $2.97 (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:
• Some Good Tips
08 July, 2008
This was great for tips. The book was not 100% applicable to our situation and at times was a bit repetetive. But overall it was a good buy and was informative.
- Amazon Customer Review
• 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
• The 107th Common Mistake Is Reading This Book
07 February, 2008
This book is very light on facts and written in surprisingly defensive tone. Also, it is at best lazy and deeply flawed in its analysis of investment returns, and at worst deliberately misleading. It is stated in an example that 10K down on a 100K house will likely net you a 24% annual return on your investment. It is figured that (on a 30-year loan) after 8 years we've paid down to an 80K balance and the house is now worth 137K. It is then calculated that our original 10K has increased in value five-fold like so: 137K - 80K = 57K. But (for starters) didn't we add 10K in additional equity through mortgage payments for those 8 years? Also, if 10% down gets us a five-fold increase, would 5% down give a 10-fold increase in value over 8 years? 57K/5K * 100% = 1140%!! NICE!! And if that's so, can I just buy a bunch of houses with no money down and experience an infinite percentage increase in value on my investment in each one (0 to 57K in just 8 years!)? Interest payments don't seem to figure into these calculations, though a specific rate is stated in the premise. With such staggering numbers backing him up, this guy must be wondering why he still has to write books to support himself. Also, the author is so insecure that another dissenting Amazon reviewer was lambasted in the '06 edition. Hey Gary, do me next.
- Amazon Customer Review
• Be Careful About "expert" Advice.
06 April, 2008
I haven't finished the book, yet, but I quickly noticed how this author, along with other real estate "experts", sees himself as an advocate of an active real estate market. He wants people to buy. I don't really think rent versus own is what this book is suposed to be about. But, it's like the author couldn't help but get on his soapbox. Some of his suggestions are to eat less, use all cash reserves and even buy a home with a partner.
The author questioned whether historical stock valuations would continue to rise on past performance, but automatically assumed that the same limitations didn't apply to home purchase. Not everyone belongs in their own home. Interesting how this book was written before the whole real estate bubble popped, so I think he's always been proved completely wrong on that point.
- 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
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