Homebuying in Fall: Keys to Negotiating the Autumn Housing Market

So, you're finally off the fence and ready to buy a home before prices -- and mortgage rates -- rise any further. Here's what you need to know about jumping into the market at this time of year.

Know Your Market: The bottom line is that different markets behave differently during the fall. According to Zillow's August Real Estate Market Reports, national home values rose 0.4 percent from July, marking the third consecutive month in which monthly home values rose more slowly than the month prior. However, markets in California, Las Vegas and Minneapolis are still seeing an extremely brisk pace of home value appreciation (2 percent or higher). As we exit 2013's selling season, we will start to see a slowdown in home value appreciation.
 

Selection Is Limited: Many frustrated sellers who weren't able to unload their properties during the busy peak spring/summer buying season may take their homes off the market, particularly as the holidays approach and the action comes to a screeching halt. This means you can expect the selection to be even more limited than it currently is in some markets.
 

There's Room to Negotiate: Was there a home you saw and loved a few months ago? Is it still on the market? If it hasn't sold after one of the hottest real estate summers since the economic downturn, you likely have room to negotiate. While some buyers will pull their homes off the market, others who have been holding out for the best possible price may now be ready to come down. While some homeowners are determined to get a set price, others may simply want out at this juncture.
 

Check Maintenance Areas: Fall is the ideal time to check things such as gutter drainage and the general upkeep of the yard. How does everything look? Does anything need repair? Visit the home on a rainy day and see for yourself. Then go inside and check out the furnace, looking for drafts, leakage issues and other possible structural/maintenance problems. If they're apparent, determine how much money it's going to take to get everything up to snuff and factor that into your offer, adjusting your price accordingly.
 

By Vera Gibbons

Simple ways to ensure your identity is protected

The 2013 Identity Fraud Report released in February by Javelin Strategy & Research found 12.6 million victims of identity fraud in the United States over the past year. That equates to 1 victim every 3 seconds. Protect your identity using these simple steps.

1. All your wireless devices, including your cell phone should require a password. Passwords should include capital letters and symbols and be updated regularly. Be sure to lock your desktop every time you step away from your computer.
2. Don't opt in or give companies permission to share your information.
3. Be cautious of what you share on social media and do not post information that someone can use to authenticate your identity.
4. Sensitive documents should be shredded.
5. Store all your credit card information in a safety deposit box so you can cancel them in case your information is stolen.
6. Never give out personal information over the phone, through the mail or online unless you are absolutely certain of the source.
7. Only work with reputable online companies that have secure lines when making purchases.
8. Monitor bank and credit card statements and get a free credit report annually.

Why Location Matters in Real Estate

Ask just about any real estate agent to list the three most important things a property should have, and you'll likely hear: "location, location, location." That phrase has been in use at least since 1926, according to The New York Times, and is just as relevant now as it was then.
 

But why does location matter so much? For starters, you can't move a home - at least not easily or inexpensively. When you buy a home in a good location, it's usually a solid long-term investment.
 

Real estate agents often advise their clients to buy the worst house - a property that could use some TLC - on the best block. Why? Because fixing up a home in a great neighborhood will give you the best return on your investment. Quite simply, it will be easier to sell later on. Conversely, you can buy a beautiful home that doesn't need any work. But if the block is sketchy or just plain bad, you could have a hard time selling the property at a decent price.
 

So if "location, location, location" is so important, what makes a location good? Here are five characteristics to look for when buying a home. If you can get all five, chances are the home's a great investment.

1. A safe neighborhood
People want to live where there's little or no crime. Naturally, they want to feel safe in their homes and will pay extra for it. A safe neighborhood means people will feel free to walk around, be outdoors and interact with their neighbors. Communities still exist today where people don't lock their doors, and they know their neighbors are there for them in a pinch.

2. Good schools
Being in a good school district is important, even if you don't have school-age kids and never plan to have any. Fact is, young families always will be buying their first or second homes. They will do their home search based on location in general and good school districts in particular. The better the school district, the higher the values of the surrounding homes can be.
Found a home you love but the school district is subpar? Be aware of that issue for resale down the road. Bottom line: When you buy a home, you should always think like a future seller.

3. Convenient access to popular places, shops and restaurants
Everyone wants to be near the best commercial districts. The closer to the hubbub of a particular town or the best parts of a city, the better the location - and the more someone is willing to pay for a home. In beach communities, the closer to the beach, the more valuable the property.

4. Water access and views
No matter which town or city, someone will always pay for a great view or to be on or near the water. Put a home right on a waterway or on a hill with panoramic views and you've got a great location.

5. Access to public transit and/or freeways
In major cities, the farther you live from the bus, subway or other types of mass transit, the less valuable the home. A good location means being very close, and having easy access, to public transportation. Being near a train or bus can get you anywhere in a short amount of time. In some towns, where a commute by car is inevitable, easy access to the freeway makes for a good location. Adding 20 minutes to a commute just to get to the freeway never helps a location.

What makes a bad location?
There are some common characteristics that make a location "bad," no matter where you are.

Ever see a home with a backyard that faces the freeway? Whether the home is in Denver, Dallas or Dubuque, such a location is likely always going to be considered undesirable. Is the home on a busy intersection or a four-lane road? Again, it's probably considered a bad location, no matter which town it's in or what the nearby neighborhood is like.
 

Other factors that can make for a "bad" location: very close proximity to a fire station (good if your house is on fire, not so good if you're trying to sleep); a hospital (frequent ambulance sirens); an airport (sounds of jet engines 18 hours per day) or a school (traffic from buses or parents dropping off children or kids yelling and playing).
 

Some "good" and "bad" qualities simply vary by community. If you know your local community, you know which parts of town are less or more desirable. It's always smart to rent in a new community before committing to a home purchase. Renting allows you time to become familiar with the location.
 

All these things matter when you're considering the location of a home for sale. But never lose sight of what matters most to you about the location. If you're crazy about baseball, for instance, you might love owning a condo near your city's professional baseball team ballpark. Someone who doesn't like baseball, on the other hand, would probably not want to live near all the commotion.
 

Location, location, location really does matter - a lot. But as always, the most important thing is to buy the right home for you, at the right time.
 

By Brendon DeSimone | Zillow