The biggest factor in co-buying is setting up the title properly. You can have a TIC (tenants in common) or a JTWROS (joint tenants with right of survivorship). If 2 married couples are buying together, then use tenants by the entirety” or “community property.

With a TIC, you and your cobuyer are allowed to own unequal interests (also called shares) in the property. Also, if one co-owner dies, that co-owner’s share is transferred to his or her beneficiaries. Tenancy in common (TIC) is by far the most common way for unrelated cobuyers to take title.

With a JTWROS, by contrast, you and your cobuyer have (in almost all U.S. states) no choice but to own equal interests in the property, 50/50. Upon the death of one joint tenant, the remaining owners gain the deceased owner’s interest in the property.

Don’t forget to address certain issues ahead of time and agree to terms in writing.

Who will pay ongoing expenses?

What percentage with each person own?

What is one co-owner later wants out?

• How will you fairly assess the property’s value?
• Does the selling co-owner have to accept the buyout offer?
• What if the remaining co-owner can’t come up with sufficient funds to buy out the selling co-owner?

Co-buying a home is thinking outside of the box to reach your homeowner needs and wants. In today’s market, people are being as unconventional as ever and it is working.

Winter tends to dull (mostly unconsciously) a seller’s expectation of getting a top price. Clearly, it is seen to be the wrong time of year to sell. And it’s easy to understand why. All the freshness and color of spring and summer, and even fall, are absent. Gardens and greenery look dead, with no new growth. And surrounding the home prospective buyers can’t help noticing withered leaves, patchy and lifeless grass, damp and grubby pathways, and few, if any, flowers. The mood is dour; the situation has many negatives — or that’s how it can seem!

The winter season has fewer units on the market, and sellers tend to need to move from their property. You can use that to your advantage to get a favorable deal. Winter has fewer buyers in the market. Looking for a home in the winter can be inconvenient, and people are less likely to move. Families also tend to be on a September to June cycle because they are unwilling to move their children to a new town in the middle of the school year. Fewer buyers means less competition.

Lenders also usually have fewer loans to process and less paperwork to deal with (though this can change quickly if rates fluctuate). With lenders less hassled, you can expect a smoother process to get approved for a mortgage.

So, don’t let winter blues keep you from find a home. Get outside and catch a bargain!

1. Anthony, New Mexico

Date of incorporation: Jan. 5, 2010

Population: 9,360

2. Coyote Flats, Texas

Date of incorporation: March 8, 2010

Population: 312

3. Tusayan, Arizona

Date of incorporation: March 26, 2010

Population: 558

4. Providence Village, Texas

Date of incorporation: May 8, 2010

Population: 5,000

5. Summitt, Wisconsin

Date of incorporation: July 29, 2010

Population: 4,674

6. Mastic Beach, NY

Date of incorporation: Aug. 31, 2010

Population: 12,930

7. Eastvsale, California

Date of incorporation: Oct. 1, 2010

Population: 53,668

8. Semmes, Alabama

Date of incorporation: May 2, 2011

Population: 2,897

9. Jurupa Valley, CA

Date of incorporation: July 1, 2011

Population: 94,235

1. Staying Put.

More and more, retirees are remaining in their local communities longer. However, the definition of “local community” is changing. Before the definition of local community used to be defined a 10-15 mile radius, it now encompasses an expanded area of almost 100 miles, based on supply, demand and costs.

2. Creative living solutions and multigenerational homes

Concepts such as multigenerational housing, the Greenhouse Project, senior villages, co-housing, homes built with in-law apartments and other communal living solutions will continue appearing and evolving. As the housing market stays neutral through 2012, investments  to make the home more of a multi-generational dwelling will increase. Renovations will be a key driver in adaptation but the resale value of these enhancements will have negligible effect on the value of the home.

3. Downsizing…or Not

In the past, retirees often downsized their living spaces from homes to condos. However, with today’s housing markets, retirees will be reluctant to sell their home at current market prices.  They may be looking at other ways to downsize, such as cutting their mortgage costs with reverse mortgages.

4. Reverse Mortgages

With fixed incomes and increased living expenses, many senior citizens are turning to reverse mortgages as a way to receive extra cash. Reverse mortgages allow seniors to turn equity into cash while keeping ownership of their home.

According to the AARP, more than 600,000 reverse mortgages have been issued since the start of the program in the late 1980s, nearly three-quarters within the last five years.

California

Los Angeles-Long Beach-Glendale

2012: $253,328

Down from 2008 pricing of $350,000

Texas

Houston-Sugar Land-Baytown

2012: $160,471

Down from 2008 pricing of $160,000

New York

White Plains-New York-Wayne

2012: $343,937

Down from 2008 pricing of $440,000

Florida

Tampa-St. Petersburg-Clearwater

2012: $119,348

Down from 2008 pricing of $166,000

Pennsylvania

Philadelphia

2012: $171,347

Down from 2008 pricing of $195,000

Georgia

Atlanta-Sandy Springs-Marietta

2012: $182,199

Up from 2008 pricing of $182,000

Illinois

Chicago-Naperville-Joliet

2012: $248,136

Up from 2008 pricing of $247,000

North Carolina

Charlotte-Gastonia-Concord

2012: $191,788

Up from 2008 pricing of $185,000

Michigan

Warren-Troy-Farmington Hills

2012: $157,469

Up from 2008 pricing of $149,000

Ohio

Cleveland-Elyria-Mentor

2012: $139,573

Up from 2008 pricing at $129,000

TIMOTHY WARREN JR.

CEO, market tracker the Warren Group

“My general impression is that we’re sort of bumping along the bottom right now. … I think 2012 will have (appreciably) more home sales than 2011 — and that’ll be the first time that’s happened since 2004. … We won’t have an eight-year downturn — just a seven-year one.”

President, Mass. Association of Realtors; broker, Keller Williams Realty

“I think we’ll see very small (gains) in housing during 2012 if interest rates stay low, consumer confidence stays good and nothing happens (in Washington) to the mortgage-interest deduction. … As long as nothing changes (in housing laws) with the administration and Congress, then I feel we’re going to see inch-by-inch improvements.”

ALAN CLAYTON-MATTHEWS

Economist, Northeastern University

“Given the state of the economy, I expect there will be very little change in prices, (or) even slight declines. The volume of sales may be on a slow upward trend, but I don’t expect a (major) rebound — certainly not to the levels we saw (before) the downturn began.”

Patrick Newport

Analyst with IHS Global Insight

“Our forecast is they [home prices] will hit bottom in the second half of 2012,” said Mr. Newport. “We still will have a lot of foreclosures. That is still going to stay high for another several years.”

Richard Henry Suttmeier

Contributor, Forbes Magazine

“Today there are some tentative positive signs in the housing market, which I view as stability in a market that remains depressed according to the Federal Reserve. New home sales rose for the third consecutive month in November to an annual rate of 315,000. The inventory of new homes reached a record low of 158,000 units, so there should be good demand given an easing of credit standards, or appropriate home buyer initiative programs.”

David M. Blitzer

Chairman of the index committee at S.& P.

“The National Association of Realtors said last week that sales of single-family houses, town houses, condos and co-ops in November rose to 4.42 million, their highest level in 10 months, according to its latest revised data. But there were also signs that buyers were still nervous and lenders were being cautious about approving loans — the association said that a third of all contracts signed in November did not lead to closed sales.”

Here are some predictions that were made for 2011

1. Prices and mortgage rates will stay low in most areas, but will rise in affluent areas and markets experiencing job/population growth.

2. Loan guidelines will tighten up, and down payments and loan costs may rise.

3. Condos will become even more difficult to buy.

4. Mortgage rates are going to remain low. However, it’s tough to tell when they’ll start to climb and how quickly they may climb. For that reason, it may be smart to try to secure a mortgage near the beginning of 2011 rather than waiting until the end of the year.

5. Home prices are going to decline in 2011. This seems fairly clear. However, it is much less clear how much they will decline or when they will stop declining and bottom out. Although some sources predict drops as high as 20%, it is much more likely that the drop will be small. Housing bottoms may even have been reached in some urban areas.

6. Because mortgage rates will remain low and home prices are at or near their bottom, 2011 is a good time to invest in real estate if you have the means to do so.

Here are some predictions that are being made for 2012

1. 2011 saw record low interest rates and high affordability, but sales will likely remain weak2.

2. Price drops seen through 2011 will continue3.

3. Rentals rebounded in 2011 and will drive development in 20124.

4. Market disparity between, and within, regions will continue5.

5. Foreclosure rates rising again, expected to jump in 2012

6. Signs of life seen in housing construction but no true recovery yet

Making a home look occupied is the best way to prevent a break-in. This means keeping the sidewalks and driveways shoveled and plowed, and having mail and newspapers pickup up by neighbors.

Here are some other tips for keeping your home safe during the holiday season.

• Get a timer for indoor and outdoor lights and your television
• Turn a radio on when away from home.
• Don’t store gifts in garage or in other exterior structures on property.
• Have someone walk around your home and leave tracks in the snow.
• Break down boxes from holiday gifts and put in trash receptacle or recycle bin rather than setting them out by the road.
• Make sure all shrubbery near doors and windows are maintained and cut to prevent someone from hiding and add motion activated exterior lights.
• Avoid displaying gifts where they can be seen from a window or doorway.
• Arrange to have packages delivered to a neighbor if you’re not home to receive them.
• Be sure not to obscure the view from your windows. You need a clear view of your property.
•  Never cancel general deliveries such as mail, newspapers, and other services when leaving town or going on vacation.
• Notify your local police precinct when you’re planning an extended absence. They can issue a vacation watch or directed patrol for your home.

Image via Wikipedia

Having the right perspective, and plenty of patience, are necessary traits for investing in commercial real estate.

 Choosing to invest in commercial properties over residential ones is a big choice in more than one way. You need to be willing to spend a lot of time and effort upfront in researching, developing the right relationships and identifying the right type of investment. But the profits far exceed those of residential properties.

Commercial real estate consists of things like malls, hotels, retail stores, business complexes, medical centers, ect. People buy these or build these with the intent of renting them out or selling them of to other investors for profit. The demand for these spaces is much higher than the demand for residential homes.

Here are 10 guidelines for investing in commercial real estate.

1. Think Big. Buy an apartment building with ten units instead of five. The more units the cheaper they are and the amount of work really doesn’t increase.
2. Take your time. You have to be patient if you want to invest in commercial properties. They take more time to buy, renovate and resell then homes.
3. Don’t choose apartments by default. People tend to steer towards residential properties because that is what they are comfortable with. However, you really should take the time to research all the different types of properties available and pick one that interests you and then make that your niche.
4. Learn new formulas. Commercial real estate buying is not the same as residential buying and therefore the formulas aren’t transferrable. Learn “Net Operating Income” and “Cap Rates.”
5. Find good financing in advance. Commercial loans typically need more money up front, but there is no liability if the deal falls through.

But, you haven’t yet sold your old one. And, as if that isn’t stressful enough, winter is coming. With no one living in your old house, winter weather can really do some damage to it.

Here are some tips for winterizing your vacant (or non vacant) home.

Leave the heat on very low. Though it might seem like a waste of money or energy at first glance, a minimal heating bill will be less expensive than the cost of potential repairs if everything were to freeze up.

Turn off all water and drain all pipes, water fixtures, heaters, wells tanks, ect. If you can’t do this, make sure to leave some water running through the pipes by turning on the fixture closest to where water enters the house and at the farthest point indoors, say in an upstairs bathroom. It needs to trickle constantly to keep water flowing.

Wrap insulation around the water heater, the pipes leading to and from it and insulate any pipes exposed outdoors, in a crawl space under the house, etc.

Put some anti-freeze in both the tank and the bowl of each toilet. If the heat goes out and water inside the toilets freezes, it could crack the china fixtures.

Test your furnace & while you’re at it, change your furnace filter too.

Check your hose bibs (outside faucets) – Disconnect any outside hoses to prevent trapping water. If you have valves inside your house to shut off your exterior faucets, shut off those valves and open your hose bib to let any trapped water out.

Clean gutters – Make sure your gutters are clear of leaves and other debris. Clogged gutters can prevent melting snow from draining which can lead to ice dams.

Seal up leaks – Check all of your window and doors for air leaks, and add weather stripping if needed.

Storm windows – If you don’t have double pain windows, adding storm windows or a window shrink kit can make a big difference in your heating bill.

Insulate – Check your attic to see how much insulation you have. The recommendation these days is 16”-22” or an R-value of 49

Reverse your fan – Since warm air rises, set your ceiling fans to blow the warm air down.

Finally, if your home is vacant, try and check it every few weeks to make sure nothing cracked, broke, leaked, ect.