Taking the time to identify and categorize what you’re looking for in a home is an important first step in the home-buying process.

Lists that rank your must-haves, wants and dislikes will help you stay focused on your ultimate goal – finding the perfect house – and help you keep a cool head while touring open homes.

Sit down, relax, and spend some time thinking about and itemizing the features your dream home or your perfect first home will include.

The lists aren’t scored in stone and likely will change as your home search evolves and you get a better idea of what’s on the market. As you tour open homes, you may identify additional must-haves, wants and dislikes.

The must-have list is essential. It should include and rank by importance the features your home absolutely must include.

A good rule is to list features that you can’t easily change: type of home (craftsman, split-level, a home with sufficient storage space or a fireplace), location/neighborhood, school district, proximity to transportation and shopping, closet space, number of rooms or square footage, and the home’s overall condition (move-in or fixer-upper).

Your wish list should be flexible, and should include cosmetic features and of course, your dream amenities. Wall-to-wall carpeting, hardwood floors or a meticulously landscaped yard are features you can implement yourself.

Tour as many homes as possible and don’t forgo a house sight unseen simply because it doesn’t include all the features on your must-have list.

Finding a home that includes every essential may not be realistic, but it’s entirely possible to find a home that includes enough must-haves and just enough wants to strike that perfect balance. The house that doesn’t include a fireplace may include a view that you simply must have.

We all know the Bay Area is among the “Greenest” cities in the world and that people in the San Francisco Bay Area try their best in keeping fit. Well, good news, it’s official, the city of San Francisco has been acknowledged as one of the best cities that residents do “walk” to from home to at work!

The “foot” experts at the APMA (American Podiatric Medical Association) recently released their study that consist more than 500 cities and they ranked San Francisco among the most conscious for its residents to actively consider alternative means to getting to work than to get stuck in traffic with their cars.

Here’s the list of the 10 best and 10 worst cities to “walk” in.

Here are the 10 best cities for walking:

Cambridge, Mass.
New York City
Ann Arbor, Mich.
Chicago
Washington, D.C.
San Francisco
Honolulu
Trenton, N.J.
Boston
Cincinnati, Ohio

Here are the 10 worst cities for walking:

Oklahoma City, Okla.
North Las Vegas
Gadsden, Ala.
Davenport, Iowa
Mount Pleasant, S.C.
Enid, Okla.
Laredo, Texas
Springdale, Ark.
Clarksville, Tenn.
Lafayette, La

Now you’ve done it – the legally binding purchase offer you’ve submitted has been accepted and you’re officially committed to closing on your dream home. What have you done? Did you overpay? Did you overlook some ghastly and expensive structural flaw? Is this really the neighborhood you want to live in for the next several years – or the rest of your life? Can you really afford the mortgage payments?

Being gripped by fear and doubt regarding the home you’ve committed to buy is normal, it’s called homebuyer’s remorse. The best defense against a paralyzing case of homebuyer’s remorse is to have a thorough understanding of why you decided to buy the home in the first place and to know that you paid a fair sales price.

Here are some tips that can help you battle homebuyer’s remorse:

Get out that list of wants and needs you made back when you first starting the home shopping process. Does the home include the important features? Provided that you saw a number of homes and thoroughly evaluated what each home had to offer, it’s likely that house you’re about to buy is the best choice for you.

Create a new list that itemizes the pros and cons associated with your home purchase and more generally, with homeownership. Remember that the pros will include income tax deductions, building equity, the freedom to decorate as you wish and any other items specific to your transaction, such as amenities or features that cinched the deal for you – the home’s fabulous view, new roof or fully loaded master suite.

In the cons column, jot down your fears and the general disadvantages of homeownership. This list likely will include financial and home maintenance obligations and issues specific to your transaction – for example the green shag carpeting you’ll have to replace or the ugly wallpaper you’ll have to tear down. Chances are the lists will reaffirm your decision to become a homeowner, and more specifically, why you chose the home that you’re about to buy.

While it may be difficult to stop shopping for homes and visiting open houses, try to resist the urge to window-shop other properties. Unless you have a very solid reason for backing out of the deal, it won’t do you any good to pine for the home that went on the market just days before your closing. Get over it and get on with preparing to move into your new home.

Discuss your concerns with your Realtor. He or she has seen plenty of cases of homebuyer’s remorse and can help put your fears and doubts into perspective. If you’re sweating the price you’ve agreed to pay for the home, your Realtor can again go over with you the comparative market analysis and other data on which you’d initially based your offer price, pointing out any new comparable sales that have closed.

Your monthly mortgage payment is made up of several components – most commonly referred to as PITI (Principal, Interest, Taxes, and Insurance). If you live in a Townhouse, Condo, or live within areas that carries additional HOA (Homeowner Association) fees, that may also add to your total payment.

What exactly does the PITI do for you as a homeowner? Well, to help give you a quick overview…

Principal – is the remaining balance of the loan, excluding interest. Interest is calculated from the remaining principal.

Interest – is the charge for the use of the loan (money that you borrowed from the bank).

Taxes – the county assessor charges property tax based on the value of your home. Two tax installments are due each year. The first is due on November 1^st and the second is due on February 1^st.

Depending on the amount of your down payment, taxes may be impounded. An impound account is a trust account set up by the lender into which a portion of the monthly payment is credited. This way, funds will be available for the payment of taxes and insurance.

Insurance – pays for loss on a home from certain hazards. Your insurance depends on what type your purchase from your insurance agent. A standard policy pays for replacement cost, minus depreciation based on actual cash value. Your insurance agent can advice you about what types of insurance are available and best for your situation.

PMI (Private Mortgage Insurance) – depending on the amount of your down payment, you may be required to have PMI. This is for the protection of the lender: loans with small down payments involve substantially more risk, and mortgage insurance helps cover the lenders’ losses in the event of a foreclosure.

The cost of PMI varies according to the amount of your down payment. PMI may require an upfront fee, payable as part of your closing costs, in addition to a monthly payment.

FHA (Federal Housing Authority) also charges a fee for mortgage insurance called MIP (Mortgage Insurance Premium). An up-front fee (which may be financed) and a monthly fee are assessed. VA charges a funding fee which may also be financed.

Since purchasing a home is likely the single largest and most complex investment you’ll ever make, it’s wise to utilize the help of a Real Estate Advisor who can guide you through this monumental step in your life.

A Real Estate Advisor has a fiduciary duty to work as an advocate on your behalf, representing your best interests in the real estate purchase transaction. This means helping you find the best house, negotiate the best terms and price, and making sure the property disclosure requirements applicable to your real estate transaction have been met. An experienced Real Estate Advisor also has invaluable knowledge about the community and the real estate market.

Real Estate Advisors have access to comprehensive for-sale home listings data via a cooperative arrangement known as the Multiple Listing Service (MLS), which combines and markets virtually all of the for-sale home listings in a given area or region.

Additionally, Real Estate Advisors typically share new listing information with each other. Access to this inside track provides you the most up-to-date listings information that’s available, and could lead you to a for-sale home that has not yet been posted on the MLS.

An experienced Real Estate Advisor is a pro when it comes to negotiating the home purchase terms and price. The home seller’s goal is to get the highest possible price for his property and your goal is to get the lowest possible price for the same property. It’s in your best interest to enlist the help of an experienced and effective negotiator.

Other issues likely to be negotiated can include the property’s condition and needed repairs, the closing date, and the home’s contents that will be included in the purchase price. Working with an expert negotiator is the only way to ensure that you and the seller reach a compromise that is reasonable and efficient, and results in the best possible deal for you.

Home sellers are required by law to disclose certain types of information about the for- sale home that could impact the property’s appeal and your decision to buy it. The disclosure requirements can be complex and the laws vary by state. Only an experienced Real Estate Advisor can help ensure the requirements pertinent to your real estate transaction have been met.

As a homebuyer, you have nothing to lose and everything to gain when you utilize a Real Estate Advisor because it’s the home seller who pays all of the commissions and fees associated with the home sale/purchase transaction.