Useful Real Estate Web Sites
Here’s a short list of some of the more useful real estate and real estate related sites on the web. When you click on any of the links below, you’ll see the site you chose, along with a form at the bottom of your screen. Use it to get answers for any questions you might have about anything you find.
Remember: It’s my job to know more about real estate than any web site!
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GOVERNMENT REAL ESTATE RESOURCES
Try the US Census Bureau, FedStats.com or the Bureau of Labor Statistics for useful information. The HUD web site is full of resources. Don’t forget Fannie Mae, Freddie Mac or Ginnie Mae.. Get home buying tips from the Federal Consumer Information Center.
REAL ESTATE TIPS
Financing Your Home >Financial Help
Escalating home prices often cause many first-time buyers to seek help from their families for the down payment on a new home. If your parents are providing financial assistance for the purchase of a home, it is important that you have very clear agreements with them about the conditions under which their help will be provided.
Sit down with your parents to discuss the details of the arrangement. Is the money they are providing a gift or a loan? If it is a gift, be sure to check with your tax expert to minimize the tax implications. If your parents are loaning the money for the down payment, how will it be paid back? Will there be joint ownership with an equity-sharing agreement? Will your parents be named on the ownership papers with you? Are special documents needed?
Whatever form it takes, parents who help their children buy a home give them an incredible gift!
REAL ESTATE TRIVIA
Q What real estate term was first used in the 19th century and means “a high-flying flag on a ship”?
A Skyscraper was first used in the 1880s when office buildings of 10 stories or more were built in Chicago and New York.