Snow has been coming down heavily from early this morning, and shows no signs of relief for tonight or the next day- perfect timing for opening day of the ski season here in Angel Fire!

Over the last 5 days we have accumulated 14" of snow here in the valley, and it's all piling up from there. Average temperatures are 10 degrees low and 34 degrees high. But there's still quite not enough snow for the entire mountain; 4 out of 77 runs are open to the public this weekend. 4 runs might not sound like a lot, but you can still have a good time- those runs accounts for about 3.5 miles of ski trails. Tickets are on sale at a special "opening weekend" price: $49 for adults, $42 for teens, and $34 for children. Both the Chili Express and Dreamcatcher lifts are open and running from 9am-4pm. We will keep you updated when the other lifts and run open, as well as the opening of the tubing and sledding hill.

Ski today; stay forever! New Mexico Mountain Properties can help you find the perfect place to stay for whatever you're looking for! Our realtors have the perfect condos in Angel Fire for easy access to the ski lifts, or if you are brining the whole family, we have houses both in Angel Fire valley and a little on the outskirts of the valley. Even if you're not into mountain activity we can show you ranch houses outside of Angel Fire, or beautiful mountain homes in the Angel Fire area perfect for enjoying the beauties of snow, wildlife, and mountain views. So stop by New Mexico Mountain Properties to start your Angel Fire adventure!

With opening of ski season in sight, business have started to come to life around the valley of Angel Fire. The Angel Fire Resort hosted a Christmas party last week with a live band, food, a cash bar, and hosted a charity event where our very own New Mexico Mountain Properties' owner, Paula Madappa, decorated and donated a Christmas tree for the charity of the local firemen. The local bar Zeb's also had a special evening with prime rib and a local band for a night of dancing. The newest ski shop in town, The Trailhead, is having their Business After Hours tomorrow night and will host the band of their ski tech, plenty of food, refreshments, and a chance to view their decorations and shop in their retail shop. There is also a brand new Pub & Grub in town that had their grand opening just this last week. They offer a full menu during lunch and dinner hours, a bar menu after 9pm, and 20 beers on tap from New Mexico to Germany.

With all the mountain homes and condos in Angel Fire available through New Mexico Mountain Properties, this is the ideal time to make a trip to the valley. If your housing style is a condo near the ski slopes or a beautiful mountain house in Angel Fire, New Mexico Mountain Properties is there to help you along every step. Ski today- stay forever! Come on in to meet a realtor to help you find the perfect place to stay in Angel Fire! Look for the tepee dresses as a Christmas tree!

Excitement is starting to build in the valley with anticipation of the Angel Fire ski mountain opening this weekend, December 14th! A foot of snow has fallen so far this week, and more is expected on opening day to powder up the slopes and kick off a season of outdoor adventure. We're looking forward to the town picking up and out-of-towners to stroll on in. If you're thinking about a weekend of skiing, boarding, sledding, sleigh rides, or sight seeing the beautiful Sangre De Cristo mountains, Angel Fire is the perfect destination. And if you need a condo in Angel Fire close to the ski lifts, or a house out on beautiful snow-covered hills, New Mexico Mountain Properties realtors are the people to contact. We will be glad to show you homes in Angel Fire where the whole family can enjoy the weather, or condos close to the ski slopes for the easiest accessibility to downhill fun.

Ski today- stay forever in a home or condo in Angel Fire; we will exceed your expectations. Call or stop by New Mexico Mountain Properties to meet with a realtor. Look for the tepee dressed as a Christmas tree!

Mother Nature came out of hibernation last night to settle about one foot of snow in the valley of Angel Fire. The valley is white, the trees have a dusting of snow layering the branches and with Christmas lights peaking between icicles, Angel Fire homes are starting to look like a Christmas card.

Does the thought of sitting by a fire, reading a book, and watching snow flakes drift past your window sound like a warm cozy getaway? In Angel Fire it's a reality! New Mexico Mountain Properties can assist you whatever your mountain home dreams may be. Whether it's a spacious ranch house, the perfect sized family home, or an efficient condo close to the Angel Fire ski lifts, New Mexico Mountain Properties is your go-to place for Angel Fire real estate needs.

We are conveniently located at the blinking light at in the intersection of 434 and 64- look for the tepee dressed up like a Christmas tree!

Today's buyers do more legwork than any other generation of home buyers, on everything from mortgage rates and programs to neighborhoods and schools, to comparables for the home they want, because so much more of this information is freely and easily accessed online. But none of that information diminishes the anxiety around making the final decision what number to ink onto an offer for a home. In fact, this inundation of information can shift a normally sane buyer into overwhelm and overload, and actually interfere with smart decision-making.

Here are five questions you should ask yourself to collect the targeted and essential information you need to pinpoint your exact offer price:

1. How close/recent/similar are the comps – and what story do they tell? Your agent will present you with the recent sales prices of similar homes near your target home (assuming you're in an area where there are recent sales). This information, in conjunction with the listing price should begin to narrow your thoughts on offer price into a ballpark price range. But once it's time to pin down a precise offer dollar amount, it behooves you to look beyond the sales prices of the comparables and to work with your agent to suss out the story they have to tell – and what implications that story has for your own offer price.

2. What kind of shape is the place in? Fixer-upper homes may not qualify for low-down payment FHA financing. That can force you to come up with a larger down payment or evaluate the feasibility of obtaining a rehabilitation loan. On the other hand, if you had planned to put a large amount of your cash savings down on a home that needs a lot of fixing, you might want to conserve some to fund repairs. In these cases, it's very helpful to review any disclosures or reports the seller has made available. It's also essential to include your mortgage broker in the offer-price setting conversation, as condition issues might impact the loan programs available to you and, thus, the down payment, closing cost and monthly payment required at a given offer/purchase price point.

It's wise to have a quick conversation with your mortgage pro before you decide upon your final offer price in any event, but it's particularly necessary if the place has obvious condition issues.

3. What's the competition like? If you know there are other buyers competing for a property, you'll likely want and need to offer more for it than you would if the players were limited to just you and the seller and the more buyers are bidding, generally speaking, the higher the victorious offer price is likely to be.

How will you know what your competition is like? Ask your agent – and they'll likely give the listing agent a ring, let them know you're serious about making an offer and feel out whether there is competition or not, and how fierce it is.

4. How much do you want it? Your personal desire and motivation level to get a particular property is an absolute must to factor into the offer price decision-making mix, especially when you get close to putting a final number of dollars and cents on the table. Of course, your home is an asset and a major investment, so your offer price is a decision about which you want to be smart, logical and deliberate. But we're also talking about the place that will serve as the backdrop and environment for your everyday life, and your family's lives, too. To ignore the emotional impact and logistical implications of the place you live when you're deciding what to offer is to make the decision based on an incomplete portfolio of information. (And that's also how so many buyers who lose properties end up regretting their offer price, wishing they had offered just a smidge more for "the one that got away," sometimes for years on end) Pinpoint your precise, best offer so you can make it, then let the chips fall where they may, without regrets.

5. What can you truly afford? No, really. It's not that you haven't asked yourself this question, worked through your monthly financials, pored over the numbers with your mate, your financial planner and your mortgage broker ad nauseam. It's more that a lot of time can elapse between that deep financial dive and the time you actually have to decide how much to offer on a particular home. And in that time, lots of variables might have changed:

· Interest rates might have changed. · You might have decided you need to move your price range up, because you can't find anything that works in a lower range. · You might have realized you need to offer more than the asking price, due to the competition. · Your expenses might have changed, because you had to put a kid in daycare or start some new service up. · Your cash cushion might have changed, because you had to repair your car or fix something at your existing house. · Your cash needs might even have changed, as you realize the home you are trying to buy needs a lot of work that will take a lot of cash.

Get clear about how much you want the place then, just before you finalize your offer price, touch based with your mortgage broker or banker and tell them what you're planning to offer. Ask them to give you an updated set of numbers, including what your down payment, monthly payment and cash to close would look like at that price, based on today's interest rate.

By Chris Isidore | CNNMoney.com – 2 hours 1 minute ago

In another sign of a housing market rebound, home prices posted the biggest percentage gain in more than two years in the third quarter, according to the closely followed S&P/Case-Shiller index.

The 3.6% increase from a year earlier is more than three times the rise in the previous quarter and was the biggest jump in prices since the second quarter of 2010. But that 2010 rise was much more of a temporary blip caused by a homebuyer's tax credit of up to $8,000 on homes purchased in late 2009 and early 2010.

This latest rise comes as the housing market has shown numerous other signs of recovery in recent months. The rebound is spurred by a combination of record low mortgage rates, an improving jobs market and a drop in foreclosures to a five-year low, reducing the supply of distressed homes available. There is also a tighter supply of both new and previously owned homes on the market.

The improvement in housing market fundamentals have helped to lift the pace of both home sales and home building.

The latest rise in the Case-Shiller index was the second straight quarter of year-over-year improvement, while the monthly annual reading has climbed for four months in a row.

Home prices are now back to where they were in early 2003, before the housing bubble inflated over the next three years before bursting. Even with the recent gain, the index is down 28.6% from the peak level reached the first quarter of 2006.

Angel Fire and Taos real estate market trends tend to reflect national trends although there is usually a certain "lag time". Ask us about the current local market!

The need to assess and act on risks appropriately, neither overblowing them or blowing them off entirely, is particularly critical when it comes to Angel Fire and Taos real estate risks. Instead of going on risk assessment autopilot, let's take a quick, yet deep, dive into seven of the real estate-related risks that come up the most often in the minds of smart buyers, sellers and owners like you and how you can manage each of these risks wisely.

Risk #1: The Risk of Foreclosure. When we take a look at the facts behind this risk, we realize that the risk of foreclosure appears to be much higher than it truly is. There are roughly 76 million owner-occupied homes in the U.S., according to the Census Bureau. Earlier this year, real estate data firm CoreLogic revealed that there had been 3.4 million foreclosures since 2008. That would mean only about 6 percent of homes in America had been through a foreclosure - and this, through the very worst recession of most of our lives.

You have the power to manage this risk by:

Making smart mortgage choices. Buying at a price well within what you can afford, selecting a mortgage that your household finances can sustain over time, and not overleveraging by borrowing cash against your home equity for things like cars, clothes or ready cash. Making smart financial moves over time, including building a cash savings cushion you can turn to if a job loss or disability interrupts your income. Buying a home in as desirable a location as you can afford - and in an area with strong prospects for economic and population growth. Making small, extra payments to bring down the principal balance on your loan, if and when you can afford to.

Risk #2: The Risk of Overextending Yourself. This is a very real risk - more real, even than the risk of actually losing a home. Home buyers can overextend themselves when they take loans that give them falsely low upfront payments;. This was common in the subprime era that many believe led to the recession, but is less likely with today's tighter lending guidelines and narrow loan programs.

That said, it's still possible to overextend yourself by taking on more of a mortgage than you can truly afford taking into consideration things that your lender doesn't include in their estimation of you can affordable, like:

what you need to put aside for savings and investments childcare and college or private school tuition the costs of fixing, maintaining or upgrading your home.

Doing this math - on paper, not just in your head - is critical with almost everything you do as a homeowner, financially speaking. When you decide to remodel, buy things for your home, upgrade your bathroom, or refinance the place, create and honor the habit of making a written budget - even a super simple one -and doing the actual math to get a clear picture of what it will cost and whether you can afford that.

Risk #3: The Risks of Overpaying and/or Leaving Money on the Table. The night a buyer and seller agree upon a purchase price, one thing happens in both of their households, almost 100 percent of the time. The buyer wonders and worries that they might have paid too much. "Would the seller have taken less?" they ask themselves. And the seller fixates on the reverse, worrying whether they could have gotten more cash out of the buyer. "Would they have paid more?" the seller wonders (and often, asks heir agent).

There is one essential truth about home purchase prices that applies to both buyers and sellers: you can never know, with 100 percent certainty, whether the other side would have paid more or taken less. The answer to that question exists only in a hypothetical world in which you didn't offer or take the price you did, in fact, offer or take. So, it simply makes zero sense to fixate on the issue. It's a drain of time, energy and enthusiasm for an agreement that made enough sense for you to ink, so your best bet is to stop worrying about it.

Buyers should work with their agents to focus on the recent sales prices of comparable homes as a primary driver, along with their own personal budgets, of the price they offer for any given home. In cases of multiple offers, buyers should make their best offer knowing that you have to offer more than everyone else to "win" the home, by definition . And you should decide, in advance, not to worry or wonder whether a lower price would possibly have worked, if you do turn out to be the victorious buyer.

Sellers must prepare their homes to the very best of their ability (with advance inspections, repairs and staging, as their agent recommends). Then, price them in accordance with the comparables and their motivation level. The aim should be to price it low enough that the home looks like a compelling value to online house hunters, compared to the competition, but not so low that you miss out on the buyers who are seeking homes like yours - and also not so low that you would be upset about accepting an offer at the full asking price.

Risk #4: The Risk of Buying a Lemon. The reality is that this risk is relatively simple to size up for a given property, and to manage, via inspections and home warranty plans. Talk with your agent about which inspections to order for a given property, but it's extremely common to obtain at least pest, property and roof inspections for a single family home before buying it. Standard practices for your area, the specific features of a given property and the findings of the other inspectors might suggest that it's prudent for you to obtain any number of additional inspections or repair bids, ranging from a sewer line inspection, to the inspections of a structural engineer, general contractor, electrician or chimney specialist. Best practice is for you to personally attend as many of these inspections as possible, and read the written reports - as well as asking follow-up questions until you feel comfortable that you understand and are okay with the home's condition.

Risk #5: The Risk of Losing Your Deposit. In most home buying contracts, there is a window of time after the contract is signed in which the buyer has contingencies: the right to bail out of the deal for any number of negotiable reasons, like if the loan falls through or the inspections reveal insurmountable concerns. While a buyer may have made a deposit at the very beginning of the contract, it is standard in many areas that the deposit is increased (meaning the buyer puts in more money) and rendered non-refundable at the end of the contingency period. After that point, if the buyer backs out of the deal, many contracts give the seller the right to retain the deposit money.

No matter what the specifics of your contract's deposit refundability guidelines are, there is almost never a good reason for you to forfeit your earnest money deposit. The way to manage this risk is to sit down with your agent before you write your offer and discuss deposit refund, contingency and objection period guidelines. Make sure you ask every question you have and fully understand the guidelines and timelines, as you move through the phases of offer; counter-offer(s), if any; and contract acceptance.

Then, when you do get into contract, work with your agent to get a clear understanding of when your contingencies and/or objection periods expire, and put these dates on your own calendar. Throughout the transaction, operate as though time is of the essence when it comes to obtaining inspections, responding to your loan officer's documentation requests and the like, because it truly is of the essence. Finally, make sure you are vigilant about requesting an extension of time for your contingency or objection period(s) if needed.

Your agent will undoubtedly help keep you reminded of what dates are coming up, but you are ultimately responsible for ensuring that you collect the information you need in the time you have to gather it and make a final decision on a given property without forfeiting your deposit funds.

Risk #6: The Risk of Getting a "Bad" Loan. What makes for a bad loan is different for different people. Depending on where your head is at, it could mean anything from a loan with a higher interest rate or fees than you could have gotten elsewhere to a tricky loan program that has big, bad surprises in years to come, à la balloon payments or scary payment adjustments.

The risk of getting a bad loan was much greater during the subprime era, when there were loads of low-down payment, adjustable loans with big prepayment penalties and skyrocketing interest-only payments. These loans are largely extinct right now (though they might not be forever). Fortunately, you have much more control than you might think over whether you wind up with a 'bad' loan.

Exercise that control by:

Working with a mortgage loan officer that your friends, family or colleagues refer you to - and rave about - rather than simply walking into some branch of some bank off the street or working with the shiniest, slickest someone who promises they can "trick" the banks into giving you a loan. If you have a bank you like or love, consider obtaining a loan quote from them and one from your referred mortgage loan officer, then ask both loan officers to help you compare them. Taking the most plain vanilla home loan product you can. It's very difficult to be surprised with a basic 30-year fixed-rate mortgage, where the payment stays the same until it's paid off. The more complexities you add in, the more potential for surprise you open yourself up to. Reading and understanding every line of your good faith estimate - and aggressively asking every question you have in your head until you completely understand it. Do the same with your loan documents at closing. In fact, I recommend asking your loan officer to make sure you can review your loan documents at least a day or so in advance of your appointment to sign them, so you two can walk through them together in an unhurried manner before you're sitting at the closing table. Understand that property taxes and insurance costs do vary over time. Talk with your real estate and mortgage pros to try to wrap your head around the future trajectories of these costs. It's not overkill to work with a financial planner as you move into the home owner stage of your financial life.

Risk #7: The Risk of Being Duped. First, recognize that most people are more likely to be honest than they are to lie, as a general rule. Does this mean no one has ever lied to a buyer or a borrower? Of course not - but it does mean that the risk of you being lied to is actually far lower than the risks involved with failing to fully read the disclosures a seller or lender has provided, in my experience. This is especially true when it comes to professionals who have their credibility and livelihoods on the line, and sellers, most of whom would rather over-disclose than be sued later. Whenever possible, get a backup source of information - don't rely 100% on one individual's word, if you don't have to. Get inspections to give you a fuller picture of the home's condition, beyond what the seller says. Pull the home's file with the city building department to learn more about how it's been modified over time, if your contract and the real estate law of your area allows. Talk to the neighbors about their experience of the neighborhood - they're often more than happy to share. Your agent can tell you what is and isn't allowed under your contract.

From The Taos News by Matthew van Buren

Acting forest supervisor Diana Trujillo signed a record of decision allowing Phase 1 projects under the Ski Valley's Master Development Plan to go forward. They include replacing several lifts, adding lifts to Kachina Peak and the West Basin, thinning about 72 acres for two new gladed areas, adding a lift-served mountain bike trail, developing a snowtubing center, constructing a snowshoeing "adventure center" and reconfiguring parking lots.

Concerns raised in the appeals ranged from larger crowd sizes to negative impacts on wildlife.

Taos Ski Valley's master development plan notes fluctuating annual visitation and the need to respond to consumers' demands with the addition of new lifts, "which are vitally important to meet customer expectations," among other measures. The plan also suggests developing additional activities to attract more guests in both winter and summer.

The Forest Service has responded to a number of comments that were made earlier in the process, and the record of decision approved the plans proposed by Taos Ski Valley.

Among the appeals the Forest Service received was one by "Carson Forest Watch," a Llano-based group organized by Joanie Berde. Berde's appeal focuses mainly on the area's wildlife and argues that the Forest Service failed to take the "hard look" at environmental impacts required by the National Environmental Policy Act.

"The (EIS and record of decision) fail to adequately analyze and disclose the cumulative effects of past development at TSV and adjacent areas, combined with current and future projected uses of this part of the Carson National Forest," Berde wrote.

Berde wrote that she worries future projects at the Ski Valley could "threaten the persistence of white-tailed ptarmigan, pine marten, boreal owl and Canada lynx in New Mexico." Her appeal argues that the Forest Service should have further considered the quality of adjacent habitat and the loss of habitat associated with climate change as part of its review of cumulative effects.

"(The record of decision and EIS) fail to address this important issue and how this project will only further threaten animals already under stress from a changing climate," Berde wrote.

She claims in her appeal that the Ski Valley area is the "last holdout" for a number of threatened species, including marten and ptarmigan.

"Surveys have found few of these species in other areas of Northern New Mexico or in the Carson National forest," the appeal states.

Berde wrote and that bringing more people to Kachina Peak and the West Basin ridge, constructing new lifts and removing trees "will further fragment and degrade this fragile area." She argues that the approval of Phase 1 projects "effectively opens the door" for future phases, as well, which should also be addressed.

According to a Forest Service response to a similar concern raised earlier, future projects would have to undergo "site-specific" analyses. Remaining projects from the Master Development Plan include a "Summit Lift," which would take skiers from the base to the top of Lift 2, a new beginner area on private land, a new restaurant at the top of Lift 2 and "miscellaneous trail improvements and construction."

Patrick Grace, of El Prado, also submitted an appeal, writing that he believes "the Kachina and West Basin lifts are a bad idea on many different levels," including the "visual impact" a lift to Kachina Peak would have. He argues in his appeal that bighorn sheep could be negatively impacted, as well.

"The installation of the West Basin chair, in my opinion, is only aesthetically a bad idea," the appeal states. "As an active skier at TSV, I see that the increased traffic in the West Basin will result in more injuries and a generally more impacted experience in that area."

Grace asks that the Forest Service not "overlook the responsibilities and duties as the stewards of our common lands to maintain what we as a collective community consider our birthright and inheritance of our children."

"The decisions you make today for the economic good of the few can rob our future generations their sanctuary from an increasingly modernizing and mechanical world," he wrote. "It can rob them of their actual identity through their connection with the real world (the mountain wilderness)."

The third appeal came from Emily Sadow, of El Prado. She wrote that she is "dumbfounded" that the approval was signed by an "interim" supervisor, and that the decision "should be made by someone who (has been) the supervisor for years." In her appeal, she also argues that the proposed projects could have a "huge impact" on the watershed and that the visual impacts of the projects would harm the area's "wilderness characteristics."

Grace and Sadow both wrote that they fear the addition of the lifts would lead to "open gates" into adjacent public lands. Grace wrote that it is "almost a given" that the ski area would petition for access into the "side country." He wrote that "there are about a dozen of us that are consistently active in the wilderness" and that the "wilderness experience" would be negatively impacted if the proposed projects are allowed to go forward.

"I know this is all speculation, but when you give an inch, they tend to take a yard or so," Grace wrote.

The EIS, dated Aug. 2012, does attempt to address most of the concerns raised in the appeals. The chosen alternative "is not expected to produce negative impacts to any of the analyzed federally or state-listed species," the EIS states, specifically listing species including the American marten, bighorn sheep, Canada lynx, white-tailed ptarmigan and boreal owl. Thinning would be done in a mosaic pattern, according to the EIS. It suggests taking mitigating actions, including surveying areas prior to glading and leaving downed logs and lower branches in place when possible.

"Keeping lower branches will provide habitat security for Canada lynx, snowshoe hare and American marten," it states.

Regarding concerns about out-of-bounds skiing, the Forest Service's response in the EIS states that boundary management is an "operational issue and is the responsibility of TSV" and that the boundary would continue to be roped and signed.

A Carson National Forest representative declined to comment on the appeals, stating that the regional office will provide a decision around late November.

Taos Ski Valley Chief Operating Officer Gordon Briner said he has read the appeals and that Ski Valley leaders believe the EIS addresses the concerns raised "in a pretty thorough way," though they are appreciative of a "healthy" appeals process.

Regarding concerns about "open gates," Briner said that issue should be separated from the addition of lifts. He said the idea of opening gates has been discussed for "over 15 years," but that it wouldn't be predicated upon the construction of new lifts.

"We have not made a decision to proceed with that ... It's certainly not a new concept," he said. "If we thought gates were a great idea today, we could go to the Forest Service today to talk about that."

Briner said the Ski Valley is waiting for the Forest Service to respond to the appeals before prioritizing projects and developing timelines. The Ski Valley's "preferred alternative," according to the EIS, would take place over 5-10 years.

Discover why Angel Fire is consistently rated one of the top family ski areas in the Southern Rockies. Terrain parks, tubing--and now, night skiing! We got it all. If your family is into it so are we. With two high-speed quads, two freestyle terrain parks and a mountain as big as all get-out, Angel Fire Resort has enough to keep the family happy all winter long. Snow is starting to fall and opening day is just around the corner. Back by popular demand, Angel Fire is offering a two day "Before the Rush" sale November 13th and 14th and great lodging deals 12/14/- 12/20/2012. For details call 1-800-633-7463 or go to www.angelfireresort.com.

Buying a money pit can nearly drive a new homeowner to lose their mind - and their shirt.

Here are 5 steps that will help you avoid a money pit when investing in the Taos Real Estate market.

1. Attend Inspections. When you're there in person, the inspector is able to physically show you the items that may need repair, and give you their professional opinion of how serious and large needed repairs may actually be at a level of clarity a written report may lack.

Sometimes, written inspection reports convey minor items (like reversed hot and cold faucets) as a red-flagged health and safety issue, and more major items (like a problematic foundation) as something that needs further inspection. If you are at the inspection in the flesh, you can brief the inspector on what level of cost and effort you consider major (and vice versa), and ask them to help you understand roughly where the property overall and any individual repairs needed fall, from that perspective.

2. Read the Reports and Disclosures. Attending your inspection is just the first step. Reading the inspectors' reports is critical to avoiding a money pit - both the reports generated by your own inspectors, and any reports and disclosures provided to you by the seller. Things to watch for and investigate further in the sellers' reports and disclosures include: repairs the seller completed themselves, repeated repairs to the same home system, water and leakage issues, and any reports of non-functioning mechanical or other systems in the home. In your inspectors' reports, make sure to notice: repair estimates they offer, items that seem like they will have to be completed soon (versus upgrades you can do over the long run) items that seem like they might run into big ticket dollar amounts, and especially watch for any recommendations that you get a specialist to look at something - some of the largest potential repairs are often dealt with in this way by a general property inspector. It behooves you to follow up on your reading of reports and disclosures by working with your agent to: list your questions and concerns, ask the inspector(s) and seller any follow-up questions you have, obtain follow-up inspections (including obtaining an extension of your inspection contingency, if needed) and obtaining reliable repair estimates. 3. Get Multiple Repair Bids. Most general property inspectors do not offer you a repair cost estimate with your report - many states even forbid it by law. Money pits often occur when buyers take a place knowing it needs what they thought was a little work, that actually turns out to be a much more costly or involved repair, once the actual repair contractor takes a look or starts the work.

Avoid surprises by getting multiple repair bids from reputable contractors while you are still within the inspection contingency time frame of your contract. These repair estimates can also provide the basis for any renegotiation you and your agent choose to initiate with the seller for price reduction, repairs or increased closing cost credits.

4. Stop Overconfidence In Its Tracks. Unless you are a construction professional (and sometimes even then!), all but the most minor home improvement or repair projects tends to take more time and money to do yourself than you expect at the outset.

Even if you expect to cut costs by doing some work yourself, I urge you to contact and obtain bids on the repairs and upgrades you plan from actual professionals, so you can at least be armed with the information about what it will cost to get them done if you can't complete them for any reason.

5. Prioritize Price Reductions and Credits over Seller Repairs. For the most part, I feel that buyers will select their own materials and repair contractors with more care and are generally more deeply invested in ensuring that repairs are completed to their satisfaction than an outgoing seller. If you are negotiating with your home's seller over repairs that need to happen, discuss with your agent whether it might make sense to ask for a price reduction or a closing cost credit to offset the cost of the repairs so you can have them completed to your standards, and with the materials and by the contractors of your choice, after closing.