Richmond Real Estate - Home Buyer Tax Credit: How It Works

First-time homebuyers in 2008 can take an income-tax credit on their purchase, thanks to passage in Congress earlier this year of the first-time home buyer tax credit.

The definition of first-time homebuyer is generous. To get the credit, the homebuyer cannot have owned a home in the previous three years. The home must be a principal residence and purchased between April 9, 2008 and July 1, 2009.

The credit is equal to 10 percent of the purchase price, up to $7,500. Single taxpayers with modified adjusted gross income up to $75,000 and couples with MAGI up to $150,000 will qualify for full credit. Singles with MAGI up to $95,000 and couples with MAGI up to $170,000 will get a reduced amount. Those with higher incomes don’t qualify.

If the amount of tax a homebuyer owes is less than the amount of the credit, they get to keep the difference in the form of an IRS refund.

The homebuyer must begin to repay the credit in two years in increments of about $500 a year over a 15-year period for those who received the full credit

Homebuyers who sell their home before the credit is repaid must pay off the loan with any profits. If they sell the home at a loss, the loan is forgiven.

[Editor's Note: The credit is set to expire in mid-2009, although industry groups, including the NATIONAL ASSOCIATION OF REALTORS®, are encouraging Congress to extend it. NAR is also encouraging Congress to make the credit available to all buyers and to eliminate the repayment requirement. More detail on how the credit works. The documents are on downloadable and printable PDFs:
* First-time home buyer tax credit chart
* First-time homebuyer tax credit FAQ

Source: Chicago Tribune, Mary Umberger (12/28/2008)

1% Seller-Buyer Program!

If you purchase any home using Mohamed Mekhimar as your buyer’s agent, he will list and sell your home for as little as 1% LOC* backed up with a written guarantee.

How does this program work? The answer is simple. It’s a package deal. Allowing me to represent you in the sale of your current home and in the purchase of another home should not cost you twice. Providing you this incentive to allow me to represent you as your preferred Real Estate Agent is really nothing more than being fair and reasonable to you ...and your pocketbook.

When you purchase your next home or condo, the Seller of that property will be offering a ‘selling office commission*’ to the Broker & Agent who represents the buyer. In most cases this commission is 3% which is normally paid by the Seller...not by you. This cost is my compensation for representing you as your buyer’s agent during your home purchase. It’s a win-win scenario for each of us. You get my Full Service program from Listing to Closing when I sell your home as your listing agent AND you get full representation and excellent customer service with me as your buyer’s agent ...from helping you find your next home to the purchase offer through to Closing.

You will have sold your current home and purchased a new home and saved thousands of dollars in real estate fees.

By the way, the home you buy can be any home in the MLS, as well as For Sale by Owner or new construction. As long as I represent you as your buyer’s agent, I will list and sell your home for 1%.

Please let me know how I can be of service to you in making your next home purchase or the sale of your current home a rewarding experience.



*LOC - Listing Office Commission SOC - Selling Office Commission

First Time Home Buyer: Part 3 of 8

How Much Home You Can Afford

First-time buyers are often unsure about the financial aspects of buying a home, and you may have many questions swirling in your head. How much can I afford? Do I need a large down payment?

Your home price range will be determined by your income, credit history, the cash you have for a down payment and closing costs, and your debt. How much you earn compared to how much you owe will likely determine how much the bank allows you to borrow.

The financial rule of thumb is: your total monthly debt service, which will include your monthly mortgage, shouldn't be more than about 36 percent of your gross monthly income. Most experts say that your monthly housing expense, including taxes and insurance, should not exceed about 28 percent of your gross monthly income.

Naturally, every situation is different, and each lender has different rules about working with buyers. A number of choices within your control can affect your monthly payment as well. For example, you might choose an adjustable rate loan, which has a lower initial payment than a fixed rate program. Similarly, a larger down payment may lower your monthly payment.

If you'd like more information about how much home you can afford, please call or email Mohamed Mekhimar. We can help you get the mortgage information you need.

First Time Home Buyer: Part 2 of 8

Considering Making a Move?

When you're thinking about making a move, the first steps in the home buying process are:

1. Deciding when you want to make your move
2. Considering how much money you would like to spend
3. Thinking about what type of home you would like
4. Deciding where you would like to live

The next step is usually finding out how much loan you can qualify for and deciding the type of financing will work best for you.

If you're in the "thinking about it" stage, you will want to speak with a lender about receiving pre-qualification. If you choose to become pre-qualified, the lender will determine how much you can borrow based on financial information you provide to the lender. Pre-qualification is useful for making preliminary decisions about how much home you can afford, but does not assess your creditworthiness.

You will need to fill out a loan application and go through the lender's loan approval process at a later date. When you decide to buy a home, you will want to become pre-approved for a loan prior to beginning your home search.

Please don't hesitate to call or email me for additional information about the buying process. Our goal is to provide you with practical information as you consider your next move. And, when you're ready to make your move, we'll help you find your dream home and handle all the details of the transaction, so all you need to do is pack

First Time Home Buyer: Part 1 of 8

Why Buy Instead of Rent?

When you're thinking about buying your first home, it's essential for you to be confident in your decision to buy instead of rent. However, you may not know about the many great reasons to buy a home! Here are just a few of them:

Smart investment
When you invest in a home, it offers the possibility for appreciation in value. The equity becomes yours when you're still paying off your mortgage. You even get to live in it while your investment matures.

Tax advantages
Since both mortgage interest and property taxes are tax deductible, homeownership can save you significant amounts of money every year.

Planned housing costs
You decide how much you spend on your home, including repairs and improvements. Unlike renters, homeowners with a fixed-rate loan can lock in their monthly housing costs.

Improvements to your taste
You can choose which improvements to make your own property, such as a deck, kitchen remodel, or new paint, instead of needing permission from your landlord.

If you have more questions about making the decision to buy a home, please feel free to call (804-243-0605) or email (mmekhimar@remax.net)!

Warm regards,

Richmond Virginia Real Estate - Home Buyer guide

Home buying and home ownership is not always easy, but most people agree that the rewards outweigh the challenges. The first challenge, of course, is to learn all the steps to buying a home. Our Buyers Guide will provide helpful tips and information you need to understand the process and get started on your path to home ownership.

Click here Home Buyer Guide to review the guide.

For additional Buyer and Seller information, check out a variety of educational resources at Richmond Homes Website

Yes, you can sell and buy a home!

Here are a few issues to consider.

• You may have to sell for a lower price...in fact you will sell for lower than last year!
• You can buy the home of your dreams for a lower price too!
• You will only be seeing people that really want to buy....believe it! Credit has tightened so only real buyers are in the market.
• Can you expect some low-ball offer....YES!
• Can you expect to sell in a reasonable time.....Yes if marketed properly!

So if you want to sell do it! Do it with your eyes wide open...know what to expect. Know what your final sell price range is probably going to be. Here are the three probable prices to consider...Your list sell price, the offer price and the actual sell price.

So can you sell? YES. Can you buy another home which will be of similar discount to match what you had to do? YES. So if you do that when the market comes back will you increase in value to make up for the current market down turn? YES, it always comes back...if you have purchased up your investment will go up exponentially.

So is this a great time to sell and buy? rates are great...the home selections are as good as it is going to get and your opportunity to find exactly what you want at a great value could not be better.

How will I know how much to offer?

“Shoot for the moon. Even if you miss, you'll land among the stars.” Les Brown

That’s good advice for space travel. And it could encourage an actor to continue their rehearsals until they make it to Carnegie Hall. However it’s not a proven strategy for buying real estate.

As a homebuyer your question might be: “How will I know how much to offer?”

Who will help you decide? Does a home seller or their listing agent worry about you getting a good deal on your purchase? “NO!” The seller and the seller's agent are concerned primarily about their interests, not yours.

My customers have benefited from my attending to their concerns. You can, too. When we work together I will work to make sure you find the right home for your needs and wants. And then we’ll work to get the most acceptable pricing and financing package, too.

I encourage you to visit my website at www.RichmondVAHomes4Sale.com where you can become familiar with homes for sale, home sales prices, and the most important market and neighborhood information. You can even begin your search for your new home with the dream home finder. See something you like? You can schedule a showing. Now is the time to visit.

Don't risk driving by the home of your dreams. Call upon me to find your home for you.

Why Now is a Smart Time to Buy!

Now is a great time to buy a home, say the financial gurus at the Wall Street Journal.

The Journal calls it a buyers market and offers these suggestions for first-timers getting their feet wet. While their advice is solid, it’s not revolutionary, but some potential customers might find it reassuring.

Remember this is a place to live not a stock market investment, they say. Lenders want buyers to spend no more than 28 percent of their gross monthly income on mortgage payments, real estate taxes, and home insurance. Buyers shouldn’t count on stretching further because lenders won’t approve their loans.

• Cash is king. Having enough money in the bank to pay closing costs that are typically an additional 2 percent to 3 percent of the price of the home is necessary.
• Location. Location, location. As any good real estate professional knows, homes in good school districts where the crime is low are much more likely to hold or increase their value.
• Compare. Besides just looking at the comps, buyers should examine what it would cost to rent a similar house in the same area and they might consider what it would cost to buy land and build a comparable home.
• Think long haul. It will probably take at least six or seven years of living in the house to be able to sell and come out ahead.

Source: The Wall Street Journal, Shelly Banjo

Richmond Real Estate - Buy versus Rent!

Nearly a full third of households are still renting...but if you are one of them, you could be paying a hefty price. Additionally, the children of the baby boomer generation are close to or at the home buying age, but these "echo boomers" could mistakenly decide to put off the purchase of a home because of all the noise about a "bubble" in home prices.

Is there a "bubble"? The simple answer is "no". Even if interest rates move a bit higher, it won't be enough to cause a nationwide slide in home prices. The key to a healthy housing market is the job market. If the payment on a new home might be slightly higher due to increased interest rates, it generally won't stop someone from purchasing the home of their dreams...but if they feel their job is in jeopardy, it might be enough to stop them from making a move. So with the currently low levels of unemployment and the beefy gains in job creation, it looks like the housing market will remain vibrant. Although it will be difficult to sustain the double-digit appreciation, perhaps closer to the historical 6-7% range, which is still very good.

It is important to note that housing tends to be localized. So if the job market in your area is weak, housing prices could under perform the rest of the country.

But this talk of a housing bubble has been going on for a few years now, and those who were unfortunately victimized by continuing to rent instead of purchasing a home are painfully mulling over their missed opportunity. But is it too late?

Let's look at an example. If you are paying rent at $1,500 per month and you landlord increases your rent by a modest 5% each year, you would wind up paying just about $100,000 over a 5-year period! Worse, after forking over $100,000, you still would have nothing to show for it.
And speaking of having nothing to show for it-how about any improvements you might make to rented property? It's uncommon for renters the freshen up the pain, install new light fixtures or plant flowers outside, but guess what...all your efforts, labor and the benefit of the improvement belongs to? Your Landlord, not you.

With an extensive variety of programs to help buyers obtain a mortgage with little to even zero down payment, the very same money could have been used towards home ownership. Even using a standard fixed program, a mortgage of $300,000 could be obtained with a total monthly mortgage payment - in property taxes and insurance - of around $2,200. Assuming a 25% tax bracket, this would be equivalent to the average amount spent on renting during the same period after your tax benefit.

And the benefits of home ownership are quite considerable. Because the mortgage is being paid down every month, equity is being built. After 5-years, the $300,000 mortgage would be reduced to $279,000, adding $21,000 to your net worth. Home appreciation can add an even bigger chunk. If your home appreciates a modest 5% per year, the value of a $300,000 would increase to $383,000 after 5-years. Subtracting the remaining mortgage of $279,000 and you have a whopping $104,000 of additional net worth! Even if the appreciation level were at 3.5% or half the historic norm, the result would be $77,000 of additional net worth.

But if laying out the initial increase in monthly payment and having to wait for your tax benefit to show up April is a tough nut to crack, the IRS wants to help. Instead of waiting to file for the tax benefits derived from your new home purchase, you can simply adjust the amount of your withholding. This allows you to have tax withheld from each paycheck so you can handle the new mortgage payment more comfortably throughout the year. In essence, you are taking your tax refund as you go instead of letting Uncle Sam hold it all interest free.

Visit www.irs.gov and use the IRs withholding calculator. This handy tool can quickly show you the change in withholding will do to your net paycheck.

Don't be victimized by the bubble hype. Buying a home is a big step, but it is almost always one in the right direction !

For additional local real estate information, information about me and my services, to request home listings by E-Mail, to request a market analysis on your current home, or to tour the MLS Listings please visit my web sites at www.RichmondVAHomes4Sale.com or www.e-RichmondHomes.com.

When's The Right Time To Buy?

A big obstacle to purchasing a new home could be the sale of your existing home. The equity you have built in your current home could serve as a down payment on your next home.

If you currently own a home, I would be happy to provide a market valuation to help you realize the potential gain if you sell your home. All I would need is some basic information about your home to provide you with a price range. I would also be happy to briefly visit your home and provide a more detailed evaluation, if you wish.

If you are a first time buyer, there are several programs that can assist you including a first time buyer 95% loan program that's called "risk-share" or "3% down" program.

The following is an outstanding article by Duan Hymber, distributed by Inman News:

Should I Buy Now Or Wait To Save A Larger Down Payment?Coming up with enough cash for a down payment and closing costs can be a hurdle for many buyers, particularly first-time home buyers. But there are ways you can buy a home without much cash on hand.

For example, there is a new first-time home buyer 95 percent loan program. It's called the risk-share or 2 percent down program, and it lets you get into a house with only 2 percent cash down. The additional 3 percent cash can be a personal loan from your credit union or a relative. This 3 percent personal loan must be a fully-amortized fixed-interest rate loan with a five-year due date. An amortized loan is paid off in full during the term of the loan (five years in this case).

Many first-time buyer programs will only give loans to borrowers whose income is below a certain level. That level is often so low that many first-timers with high incomes can't qualify. One benefit of the 2 percent down program is that it's available to borrowers with annual incomes up to $80,000.

If you have any question about buying or selling property, don't hesitate to call or email Mohamed!

The way to a successful closing!

As real estate professionals, we handle pricing, marketing, and negotiating. Once the purchase and sale agreements have been signed, there are several steps to take to get the transaction closed:

Step 1 - Removing contingencies: The most common contingencies are financing, inspections and the sale of the buyer's current home. These conditions must be removed or waived before the sale can close.

Step 2 - Appraising the property: The buyer's lender requires a formal appraisal to confirm the value of the home, to be used as collateral to secure the loan.

Step 3 - Preparing closing documents: Most often real estate attorneys prepare documents that confirm the transaction, pro-rate funds, and so on.

Step 4 - Signing closing documents.

Step 5 - Turning over the keys to the buyer, and welcoming the moving van.

Step 6 - Recording the deed and disbursing funds.


There are many opportunities for surprises or delays in a transaction. Part of Mohamed's expertise is in troubleshooting problems that arise in the closing process and communication. Please email or call us if you have any questions or you would like more information.

CMA! what and why?

CMA is real estate shorthand for "Comparative Market Analysis." A CMA is a report prepared by a real estate agent providing data comparing your property to similar properties in the marketplace.

The first thing an agent will need to do to provide you with a CMA is to inspect your property. Generally, this inspection won't be overly detailed (she or he is not going to crawl under the house to examine the foundation), nor does the house need to be totally cleaned up and ready for an open house. It should be in such a condition that the agent will be able to make an accurate assessment of its condition and worth. If you plan to make changes before selling, inform the agent at this time.

The next step is for the agent to obtain data on comparable properties. This data is usually available through MLS (Multiple Listing Service), but a qualified agent will also know of properties that are on the market or have sold without being part of the MLS. This will give the agent an idea how much your property is worth in the current market. Please note that the

CMA is not an appraisal. An appraisal must be performed by a licensed appraiser.
The CMA process takes place before your home is listed for sale. This is a good assessment of what your house could potentially sell for.

CMAs are not only for prospective sellers. Buyers should consider requesting a CMA for properties they are seriously looking at to determine whether the asking price is a true reflection of the current market. Owners who are upgrading or remodeling can benefit from a CMA when it's used to see if the intended changes will "over-improve" their property compared to others in the neighborhood.

Click here if you would like a free CMA.
For other helpful seller information click here.
For other helpful buyer information click here.

Richmond Realtor - Real estate question and answer!

Q: How much does it cost me to have a Realtor help me find a home?

A : Realtor Fees: Realtors are paid by commission only . A Realtor's services should be at NO COST to you as a HOME BUYER . When a Home owner chooses a Realtor to SELL their home, they negotiate a commission to be paid to the listing Realtor. A portion of that commission is made available to the licensed Realtor that finds a qualified Buyer for that property. This ensures that all home buyers, regardless of being a first time buyer, or an experienced investor have the benefit of a licensed real estate professional. If a Realtor tells you that there is a charge to you as a Buyer, for their services, you may want to shop around. The only exception to this might be if your home search is extended over an extremely long period of time, or if your Realtor is racking up hundreds of miles driving you to search for homes day after day after day. You wouldn't go to court without an attorney to represent you, so why would you make one of the largest investments in your life without consulting a professional. Never again will something so free, save you so much in the long run. Good Luck Home Buyer.
ASK YOUR QUESTIONS HERE

CONTACT ME for assistance with RICHMOND REAL ESTATE

Mohamed Mekhimar , Realtor®, Accredited Buyers Representative , RE/MAX Commonwealth, mekhimar@remax.net, (804) 243-0605 Cell, (804) 288-5000 Office, (804) 288-8989 Fax, http://www.richmondvahomes4sale.com/, Licensed in the Commonwealth of Virginia

Advice to Buyers: Spend Cautiously Before Closing

Home buyers should take care not to run up a lot of debt between the time they are approved for a mortgage and the day they go to the closing table.

Many lenders are pulling credit history and credit scores within a week of a buyer’s scheduled closing date just to make sure nothing major has changed. What the lender doesn’t want to see is a huge run-up of credit-card debt or other loans.

The lender also may require the borrower to sign a statement at closing affirming that there has been no change in the borrower's financial ability to repay the loan and that the borrower's employment status remains the same.

Home buyers should be particularly cautious not to throw their debt ratio out of whack by buying things for the new home before they own it because the added debt might change their credit score and the lender may no longer be willing to lend them money at the rate promised, or maybe not at all.

The best advice, experts say, is to wait to do that shopping until after closing.

Source: Ilyce Glink, Real Estate Matters Syndicate (11/09/2007)

10 Tips for First-Time Home buyers

1. Be picky, but don’t be unrealistic. There is no perfect home.

2. Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you.

3. Get your finances in order. Review your credit report and be sure you have enough money to cover your downpayment and your closing costs

4. Don’t wait to get a loan. Talk to a lender and get prequalified for a mortgage before you start looking.

5. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion.

6. Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area?

7. Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you’ll buy as well as type of mortgage terms that suit you best.

8. Don’t let yourself be house poor. If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals.

9. Don’t be naïve. Insist on a home inspection and if possible get a warranty from the seller to cover defects within one year.

10. Get help. Consider hiring a REALTOR® as a buyer’s representative. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. And often, buyer’s reps are paid out of the seller’s commission payment.

10 Things to Take the Trauma Out of Homebuying!

1. Find a real estate agent that’s simpatico. Homebuying is not only a big financial commitment, but also an emotional one. It’s critical that the agent you chose is both skilled and a good fit with your personality.

2. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.

3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.

4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.

5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.

6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself—room size, kitchen—that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home.

7. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.

10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is as a comfortable, safe place to live.

Mortgage Tips for a Tight Lending Market!

Even home buyers with good credit may have trouble getting a mortgage these days.

Here are three tips for home buyers in search of the best deal.

* Conforming loans win. Keeping the loan below $417,000, the most that Freddie Mac and Fannie May will buy, saves big money since the rate on nonconforming loans is now a full point higher than for lesser loans. If getting the cash together is a challenge, Greg McBride, senior financial analyst with Bankrate.com, suggests taking out a small second mortgage or tapping an existing line of credit.

* Don’t rock the boat. "Anything that might disrupt your credit history will be seen with a more jaundiced eye," says Keith Gumbinger, a vice president with mortgage research firm HSH Associates. He says avoid big credit card purchases or, if possible, major life changes.

* Get multiple approvals. McBride urges borrowers to get advance approval from more than one lender, just in case the lender – not the borrower – goes under.

Source: Smart Money, Brad Reagan (11/1/07)

6 Things to Consider When Choosing a Lot!

When building a new home, selecting the lot is one of the key decisions a buyer must make. Here are six things that builders and architects say buyers must consider before making their final choice:

1. Size. The larger the lot the more it costs. Consider initial price, taxes, and even lawn care. From a purely investment point of view, architect and land planner Quincy Johnson says pick the smaller lot in a neighborhood of larger ones. All things equal, houses on small lots tend to appreciate more rapidly than small houses on larger lots in the same subdivision.

2. Orientation. This can be a big deal for your energy bills. Facing the home in the correct way makes an enormous difference in heating and cooling costs.

3. Terrain. An uphill lot provides better drainage and displays the home more effectively. "Psychological studies have shown that people feel more secure when they look down at the street rather than up," says Johnson.

4. View. Make sure the buyer knows what he or she is really getting. When the area is completely developed, that stretch of meadow on the other side of the road may be a shopping center or a gas station.

5. Location. People who need to make a fast getaway in the morning should consider a lot near the entrance of their new community. Those with small children who are concerned about traffic should go for one toward the rear.

6. Shape. Sites come in many configurations – square, rectangular, irregular and pipe stem, or flag-shaped. Flag lots are increasingly popular near water or in a rural setting. But in a typical suburban location, they could mean sharing a driveway with one or more neighbors or the house could be sitting directly behind a neighbor’s house.

Source: United Feature Syndicate, Lew Sichelman (10/21/2007)

6 Common Housing Problems that Spook Buyers!

Potential home buyers with lots of homes to choose from can be easily spooked by disclosures and the results of property inspections — even when the shortcomings are typical for homes of a certain age.

In a jittery market such as this one, it’s critical to give buyers tools and knowledge so they can decide which problems are serious.

Judi Seip, an associate with Coldwell Banker in Southern California, tells her clients to accompany the inspector so they can put the problems in perspective. Anything a handyman or an electrician could fix in a few hours isn’t worth worrying about, she says.

Here are six common issues that trouble buyers and some factors to weigh:

1. Water damage. Evidence of water damage frightens buyers, but all water damage isn’t serious. Minor leaks generally cost no more than a few hundred to repair. Get an estimate.

2. Missing permits. Ask the home inspector if the work was done well and meets code requirements, even though a permit wasn’t issued.

3. Code violations. How expensive is the repair? Ungrounded electrical outlets are common in old houses and easily fixed.

4. Cracks in the garage floor. Ask the inspector whether these cracks suggest other related problems. Generally these don’t affect the structure of a home.

5. Termites. Termites and termite damage are very common in many parts of the country. It’s important to get rid of them and to get a clear sense of how bad the damage is.

6. Foundation cracks and other foundation issues. Older homes often have cracks in the foundation. Get an expert to inspect the problem and estimate — what if anything — needs to be done.

Source: The Mercury News, Margaret Steen (10/19/07)