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.

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

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.

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.

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.

Don’t make any major purchases. The last thing you need factored into your ability to meet a monthly mortgage obligation is a sizable car payment or some other comparable debt obligation.

Any purchase that could increase your debt-to-income ratio should be avoided, so simply hold off on any major purchases until after you’ve closed on the home purchase.

Be sure to check with your mortgage professional before you start moving around your money and credit card balances. It may be tempting to transfer some credit card balances from one card to another that offers a lower interest rate.

But if you’re getting in shape to purchase a home, this move may max-out some of your available balances and maxed-out credit cards can ding your overall credit score.

On the flip side, paying off all your credit card debt also can ding your credit score or impact your overall credit-worthiness. Paying off your balances may eat up your savings and lenders like borrowers who have some cash in the bank.

Additionally, carrying a zero balance on your credit cards means you have the option to take advantage of your credit limits and lenders may factor your ability to accrue that much potential credit card debt.

Your employment history also can affect your credit-worthiness, so keep your day job. Lenders prefer borrowers who have a solid work history, this usually means at least two consecutive years of employment.

Some exceptions to this rule include trading up – leaving your current job for one that pays more money – or changing careers within the same field. If a career change is in order, discuss with your mortgage professional how the change may affect your ability to qualify for a home loan.

BEFORE YOU LEAVE

Address Change

Post Office: Give forwarding address

Change Account, Credit Cards

Subscriptions: Notice requires several weeks

Friends and Relatives

Bank

Transfer funds, arrange check-cashing in new city (if needed)

Arrange credit references

Insurance

Notify company of new location for coverage’s: Life, Health, Fire, and Auto

Utility Companies

Gas, Light, Water, Telephone, Fuel, Garbage

Get refunds on any deposits made

Delivery Service

Laundry, newspaper, changeover of services

Medical, Dental, Prescription Histories

Ask Doctor and Dentist for referrals; transfer needed prescriptions, eye glasses, X-rays. Obtain birth records, medical records, etc.

Pets

Ask about regulations for licenses, vaccinations, tags, etc

DON’T FORGET TO

Empty freezer; plan use of foods

Defrost freezer and clean refrigerator

Have appliances serviced for moving

Clean rugs or clothing before moving

Plan for special care needs of infants or pets

ON MOVING DAY

Carry enough cash or travelers checks to cover cost of moving services and expenses until you make banking connections in your new city (if needed)

Carry jewelry and documents yourself, or use registered mail

Plan for transporting pets; they are poor traveling companions, if unhappy

Carry traveler’s checks for quick, available funds

Let close friends or relatives know route and schedule you will travel including overnight stops; use him or her as message headquarters

Double check closets, drawers, and shelves to be sure they are empty

Leave all old keys needed by new tenant or owner with REALTOR or neighbor you trust

AT YOUR NEW ADDRESS

Obtain certified check or cashier’s check necessary for closing Real Estate Transaction

Check on service of telephone, gas, electricity, water, and garbage

Check pilot light on stove, hot water heater, and furnace

Have appliances checked

Ask Mail Carrier for mail he or she may be holding for your arrival

Have new address recorded on driver’s license (if needed)

Visit city offices and register for voting (if needed)

Register car within five (5) days after arrival in state or a penalty have to be paid when getting new license plates

Apply for state driver’s license (if needed)

Register children in school (if needed)

In some cases what you must disclose is outlined by the state, in other cases disclosure requirements are specified as those defects to your property that a buyer can reasonably expect you to be aware of, particularly if you live in the house.

Seller disclosure obligations vary from state to state, so it’s best to work with a Real Estate Advisor who can guide you through the disclosure process. While it’s critically important that to make your best effort to fully disclose everything you know about the property, just because you’re selling your house doesn’t make you and all of your personal information an open book.

Check with your Real Estate Advisor to learn about the type of information that isn’t considered to be a material fact.

Generally most state-mandated disclosure laws require that you provide to the best of your knowledge written disclosure of all known material facts that may affect a homebuyer’s decision to buy the property, including those facts that may affect the price they are willing to pay for the property.

A material fact can include a fact about the house, its condition and or any related legal issues that could negatively impact the property’s value.

Common problems and defects include information about the general condition of the home, physical defects (a basement that’s prone to flooding or a leaky roof), legal problems (whether the new bathroom is up to code and permitted), pest or fungus damage, and relevant environmental or seismic hazards. Items you’re likely to find on the required disclosure form include:

• Structural issues, including code violations or a cracked foundation.
• Geological issues, including whether the home is situated in an area prone to flooding, landslides or earthquakes, or if the home is built on expansive or shifting soil.
• Environmental issues, including whether the home is situated near an airport, landfill, or some other undesirable facility; any mold or mildew problems.
• Operating condition of any built-in appliances or other appliances included in the sale.
• The overall conditions of the property’s plumbing and electrical systems, age of roof and its components, and any other major systems including sewer and septic
• Information about homeowners insurance claims that have been filed within the past five years.

Leave nothing out and mitigate the potential for post-closing issues that could blow-up into an expensive lawsuit. Being completely honest about any potential or current problems may motivate the homebuyer to ask for a price reduction, an allowance for repairs or that the actual repairs are completed prior to settlement.

While no home seller wants to deal with these issues, it’s unlikely that any seller can avoid providing some negative disclosure information because no house is perfect or without problems.

Consider obtaining a pre-sale home inspection. The extra set of eyes will provide you with more information about your property’s condition, and presenting the homebuyer with an inspection report in addition to your disclosure forms will strengthen your position as an informed and cooperative home seller who’s made the best effort possible to fulfill disclosure requirements.

Mortgage payments help build a homeowner’s net worth because a portion of the payment goes toward building equity. The hard-earned equity can be saved for the big sale, or it can be tapped to obtain low interest home equity loans. The lower interest loans can be used for a variety of expenses including college tuition, home improvement or car payments.

Mortgage interest rates and property taxes quickly add up and, the combined itemized deductions can result in a hefty tax deduction. In some cases, the amount could elevate the taxpayer beyond the minimum itemized deduction, allowing for even more itemized deductions.

Homeownership also can pay tax-wise when it’s time to sell. Through the Capital Gains Tax Exclusion, homeowners qualify for a hefty tax break if they’ve owned and lived in the home for at least two of the five years preceding the sale. Married couples filing jointly and single owners can earn up to $500,000 and $250,000, respectively, in tax-free profit on the sale of their home.

Enlisting the help of skilled professional is one way to strengthen your bargaining power simply because by doing so you will have an experienced expert at your side who will help you navigate this oftentimes dicey and heated territory.

While market conditions will weigh heavily into your negotiation power, there are a number of rules that apply to home sale negotiations regardless of market conditions:

• Keep a cool head and don’t take criticisms personally. Homebuyers will list flaws and other qualities they find undesirable about your property in an effort to pressure the sale price. It’s important that you remain calm and objective – after all, not everyone likes wall-to-wall purple shag carpeting.

• Don’t get bogged down by the little details. If the homebuyer wants the front door replaced or some cracked windows repaired, give the request serious consideration if it’s all that stands between you and the closing table.

• No matter what the homebuyer throws your way, don’t digress and offer up a counteroffer that’s based purely on anger or some other negative response. Getting upset and throwing about snarky counteroffers only will delay the transaction.

• If you and the buyer can’t agree on a final sale price, consider a “split-the- difference” counteroffer in which you offer a price that is halfway between your asking price and the homebuyer’s offer.

• Know in advance which concessions you’re willing to make and which compromises you won’t even consider. Negotiations can get heated so it’s a good idea to have an anchor that can help you stay focused and on track.