In the world of real estate, when supply exceeds demand and prices are falling, it’s known as a buyer’s market. That’s pretty much where we’ve been for a long time now. Ever since the housing bubble burst seven long years ago, buyers have been in the driver’s seat, and sellers went along for a rough ride. But all of the sudden, it looks like sellers have taken the wheel, and the housing market is cruising in a decidedly new direction.

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In last week’s column, we talked about short sales and foreclosures, or together what’s commonly referred to as distressed sales. Although the volume of these transactions is thankfully declining, they still represent a significant number of home sales. During 2012, more than half of all the properties sold in Prince George’s County were either a foreclosure or short sale; in Baltimore city, it was one in three.

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In recent columns, we’ve expressed optimism about the outlook for real estate. We probably don’t need to worry about irrational exuberance any time soon, but 2013 is shaping up to be a year where we’ll see solid growth in terms of both prices and number of homes sold. All the important indicators are pointing north, signaling that better times are ahead.

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As we get into spring, a lot of homes will start to go under contract. But, getting your house under contract isn’t a guarantee that it’ll get to settlement. The inability of a buyer to secure financing can derail a purchase, but the biggest bone of contention is often the home inspection. More than just about anything, home inspections are the leading culprit in blowing a deal. At times, there are legitimate reasons for a buyer to withdraw. However, all too often, problems arise because the agents, buyers and sellers are unclear about how the process should work. Home inspectors themselves can also contribute to creating an issue by overblowing the significance of flaws discovered in a house. Consequently, here are a few tips to help you through the home inspection process.

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This time of year, it doesn’t feel much like spring. We just came off a week of bone-chilling cold, accompanied by our first amount of measurable snow. When your car is covered with salt and there’s still one more football game to go, the greening of the grass and that first backyard barbecue can seem like a far way off.

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In our last column, we reviewed the state of the market on a national basis. From that perspective, it was clear that 2012 marked a year when the housing market started to turn the corner. According to the Case-Shiller index, home prices across the nation began to show signs of a rebound. Albeit tepidly, even badly bruised markets like Las Vegas, were finally on the road to recovery.

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Our daughter, Carolyn, emailed us recently with the idea of buying a place to live. Apparently, the closet-size room she currently rents has grown a little tight with her new dog, Harvey. So we contemplated how to best guide our daughter down the path of buying her first home.

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This time of year, families get together and take stock of what the year has brought and make plans for the year to come.

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Making the decision to sell your house is right up there with getting married, having a baby or finding a new job. Plus, a home sale is usually coupled with the timing of such events. Folks usually don’t wake up one day and, just for the heck of it, decide to sell the old homestead.

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Making the decision to sell your house is right up there with getting married, having a baby or finding a new job. Plus, a home sale is usually coupled with the timing of such events. Folks usually don’t wake up one day and, just for the heck of it, decide to sell the old homestead. The need or desire to sell is frequently the consequence of some other life changing episode.

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