Our homeowner is hoping to sell his home through a short sale.

When one thinks of a short sale, what comes to mind are homebuyers who over-reached and bought homes they couldn't afford.

But, with the dramatic downward shift in home values, there are many average, hardworking homeowners who've been forced to go through a short sale. A short sale is when a homeowner sells a home for less than what is owed on it, and the bank agrees to discount the loan balance …Full Story

Many renters are taking advantage of falling home prices and buying homes. (Photo: iStockphoto)

As home prices continue to fall, the gap between the cost of owning and renting a home is closing. An Associated Press analysis found that the difference between the monthly mortgage payment on a median-priced home and the median rent has fallen by two-thirds to $221 in the past three years. Of course, many people want to buy, but can’t (see earlier post) …Full Story

In an ideal world, families looking to move to a decent school district can research local schools districts on sites like Cyberhomes and GreatSchools.net and find the perfect home and school to meet their needs. (You can find GreatSchools ratings for your town or local school on Cyberhomes by choosing "Schools" in the Cyberhomes search box menu.)

Finding an affordable school district

But unfortunately, for many families starting out, finding a home that suits them in the right school district can be tough. Many families find that they can't afford a home in the school district they want. For instance, I have friends who are looking to move to the Princeton area. Of course, they'd love to move to Princeton , N.J. , an idyllic college town with stellar schools. But in Princeton, where the high school has a 9 out of 10 GreatSchools rating, and the median estimated home value is in the upper $400,000s, they are finding that most houses are out of their price range …Full Story

Unloading unneeded household items before your next move is a good idea. (Photo: iStockphoto)

Are you looking to move this summer? If you are, try not to move more stuff than you need into your new home. Take it from me -- if you do, you'll come to regret it.

Rushed packing

Nearly seven years ago, my husband and I moved into our first home. Friends helped us with the move, helping cart all our boxes of books, mementos and old belongings to our basement …Full Story

When looking to sell your home and buy a new one, which is best: buying your next home first and then selling your old home, or finding a buyer for your old house first, then purchasing a new one?

When you already own a home, navigating the home buying and selling process can be tricky. Both selling first and then buying, and buying first and then selling, can prevent problems.

Buyer/seller dilemma

Purchasing a new home first presents problems because although you may have plenty of time to find your dream home, selling your old place may take time. But then again, selling first presents its own difficulties.

For example, my parents found buyers for my first childhood home before finding a new one. Unfortunately, finding a new home (that they loved) to move into before the closing date on our old home wasn't easy. They wound up purchasing a home they were never really fond of -- a bi-level that lacked a basement (leaving them to use the garage for storage) and had a backyard that wasn't landscaped and backed to three of our neighbors' backyards, leaving us with little privacy. (Which my folks remedied later by putting in lots of trees, and later, adding a pool.)

Because the closing date on our old home was a week earlier than the closing date on our new home, they convinced the sellers to let them store their belongings in the garage for a week before we moved in (maybe that's why our garage was never free of boxes), leaving us to stay with family the week in between.

One way sellers can better the odds is by finding a home they want, but making the purchase of their new home contingent on the sale of their old one. Such a strategy can be risky in hot markets, but in a cool market like we have now, you may be able to find a seller who'd agree to such a deal. My parents first pursued that strategy (in a market that wasn't so weighted against sellers), but when they didn't find a buyer for our old home, the deal on the other home -- a brand-new house that may have been a better choice for them had things worked out -- fell through.

Selling your current home before buying a new one is also a tactic that could play well in today's tepid housing market. With homes lingering on the market for months at a time, you should have plenty of time for your house search. Also, with sellers currently outnumbering buyers, there is plenty of inventory from which to choose. Plus, not many of us can afford to have two mortgages at a time and maintain two homes at once.

Selling first also has the advantage in a cooling market because once you sell, you'll have a good idea of how much you can spend on a new home. If you were to buy first and then sell your old home, you run the risk of overestimating how much buyers are willing to pay for your house.

To give yourself time for finding a new home, you could make the sale of your old house contingent on closing on a new purchase. But those terms aren't likely to be accepted by many house hunters in today's buyer's  market.

To give yourself more time, once you list your home for sale, familiarize yourself with what kind of home you want to buy and in which neighborhood. You should also line up storage for your stuff and a place to stay -- either in a rental or with friends or relatives -- in case your home sells quicker than you expectFull Story

This week, the blog will share pointers on how homeowners can improve their chances of getting a refund -- or owing less -- when they file their 2008 federal income tax forms this year.

The expense: Moving into a new home

The deduction: If you moved to a new house last year because you got a new job or because your employer relocated you to a new location, you may be able to deduct the moving expenses you paid, says Joseph Montanaro, a certified financial planner with USAA. To qualify for the deduction, you must meet the Internal Revenue Service's distance and time tests -- there are exceptions for members of the armed services …Full Story

Gregoria Casiano, 81, of Brooklyn, N.Y., may soon lose her home to foreclosure. (Photo: Mark Lennihan/Associated Press)

Americans are an independent bunch. Once we fly the nest, we often don't return, with children sometimes relocating across the country, and grandchildren and grandparents only seeing each other occasionally and on holidays …Full Story

I am a fan of the TV show, Jon and Kate Plus 8 on TLC. The show focuses on a couple -- Jon and Kate, who after having twins, went on to have sextuplets. The show delves into their everyday life, and being a mom of twins myself, I am always amazed at how they can keep life flowing so smoothly with so many children.

The other day I watched an episode where the family moved into a new -- and very large -- home. My interest was piqued, so I did a little online searching. It turns out there's a lot of blogging going on about the Gosselins' new home …Full Story

Former President George Bush's new home in Preston Hollow, Texas.

After you lived in the White House, where do you go next? If you're former President George Bush and former First Lady Laura Bush, that place would be the Dallas area, where they've purchased a house in Preston Hollow, one of the wealthiest enclaves of Dallas. Star-Telegram.com has published a photo of the home …Full Story

There has been much in the news about the Obama family's upcoming move into the White House. We know that President-Elect Barack Obama may purchase a puppy for his little girls, and that Obama's mother-in-law may move into the White House -- I guess that would make her the First Granny.

But how, I wonder, would the family actually make the move from their home in Chicago to 1600 Pennsylvania Avenue in our nation's capital? I doubt that they'll call Mayflower or some other moving company or pack a UHaul -- one would think security measures alone would rule out those options. Will the White House send out their own trucks to transport the family's belongings half-way across the U.S.? …Full Story