"I don't know what to do. Should I buy a home now? How can I ever afford it?".

At some point, every property-owner has asked these questions...and for every person who asks these questions, there's a different answer. That's because, as with most important decisions in life, there are so many factors to consider. Even the very first decision: whether to buy some real estate or keep renting. Purchasing real estate is a good thing to do, but it's not always a clear-cut decision. However, once you've analyzed your state of affairs, your current living situation, and you've decided that you want to purchase a home, it's time to think about how you will afford it. Again, there's no easy answer, and only you know what will work for you.

Financing is famously easy to obtain these days. There's a loan package out there for just about every kind of home owner. Choosing from the available loan packages is where you might need some help. Your decision is based partly on you view of your future. Nobody can predict the future; nobody knows what will happen to your job, whether you'll have to relocate, what will happen to your personal finances, whether you'll need your savings for something other than a real estate purchase. But there are things you can do, like learning about the types of loans, that can help you understand what to do when you face tough spots on your journey to becoming a homeowner.

If you want to invest and get the best return for your money, then historically speaking, real estate isn't the best place to do it. The place for that is the stock market. Financial instruments like mutual funds are designed to turn a profit, and they do a good job of it, relatively speaking. A real estate purchase..in other words, your home purchase, is for other types of benefits. Home owners can deduct mortgage interest and real estate taxes from their taxes, they build equity over time, and they gain freedom from the hassles that come with renting and landlords.

Maybe you've heard of adjustable-rate mortgages, also called "ARMs". These are loans whose interest rate (therefore so does your monthly payment) fluctuates with the rising and falling of the daily interest rates on the market. After 3 or 5 years, the rate settles and becomes fixed. This can mean good things if interest rates are low at the time of your "fixing point", 3 or 5 years down the road. However, this type of loan is not for everyone, especially those who can't bear to see rates rising even a little bit, unable to see the larger picture of overall trends in interest rates. It takes training!

The other type, a fixed-rate mortgage, is the most popular choice these days, and with good reason. In case you haven't noticed, interest rates for real estate purchases are low low low. So, if you choose a mortgage right now, and lock in the interest with a fixed-rate mortgage, you're set for the lifetime of your loan. Again, nobody can predict the future, and rates can either go up or down.

To decide what you want, read all you can on these two types of real estate loans, weigh the factors, and you will feel confident with your decision. Learning about the loans will take the uncertainty out of purchasing real estate, and will eventually lead you down the road to becoming a happy homeowner.

A hobby or passion or an interest is usually put on the shelf until after the workday is over. For real estate agents, though, this could be the key to carving out a successful career. Aside from obvious geographical focuses, a niche in real estate used to mean "foreclosure specialist" or "new home buyer expert". Now, however, it can mean anything from cats to hobby trains.

Take, for example, Djuna Woods of peninsulahousehound.com. She specializes in real estate in the Silicon Valley that is friendly to dog owners. Not only will she show you the usual selections in your price range, she will also show you real estate that is close to dog parks, obedience classes, and veterinarians. She also provides advice to people who are buying and selling property as to what to do with their pet during the transaction process and how to make a move easier for them.

There are agents who specialize in nudist (or naturist) clients, eco-friendly homes, child-friendly homes, etc. The thing is, many of these people are making a success out of the real estate business because they are focusing on people who share their love for a particular thing. Imagine talking about your favorite subject in order to sell houses.

It's not all fun, though. In order to make sure that your clients are getting the best house for their money, you have to stay on top of the market and on the state of your specialty.

For instance, a dog-friendly agent needs to know where all the veterinarians, trainers, groomers and dog-friendly parks are in their chosen area. They also have to keep "boned up" on the laws, statutes, regulations and policies concerning dogs in the area. Additional things they might want to be aware of is local pesticide use, common dog allergens and other peripheral information that may make them more aware of the issues that a particular property might cause for a dog-owning person.

Don't think that you have to have a clear-cut niche. Multiple interests can result in multiple sales. So, if you have dogs, kids, ornamental goldfish and enjoy a weekly game of golf, you can use this to find the right home for people who have one or all of these interests. It's all in the marketing and people can be attracted to someone who doesn't 'just' sell real estate, but can talk with them on subjects that they are interested in and find them a property that facilitates their enjoyment of these hobbies.

Niches can also come from your culture, background and family history. No matter where you are, you are probably a member of some kind of group, whether it be ethnic, special-interest, charitable, shared background, etc. Use it to gain contacts and find out what other people in this group are really looking for in terms of homes.

Carving out a niche based on your interests can be rewarding, both in terms of your career and in terms of your other interests. Being able to really understand where someone is coming from when they say, "I want a yard that is big enough for a fishpond/kennel of Great Danes/pack of kids/putting green" can result in increased trust in you by the client and a better real estate experience all around.