"If The Jones got $250,000 "I WANT $265,000". It seems that reality hasn't set in and sellers in 2006 still think it's a sellers market. A real estate correction is currently taking place in 1Q 2006.

Real Estate Condo Market Future

There is a chance 50% chance that if you are a Baby Boomer you'll will trade your suburban single family home for a condominium and are moving back to urban big city neighborhoods.

The demand for condos also is increasing because of that demographic bulge, the Baby Boomers. There are 78 million people between the ages of 41 and 60 with as many as 3 million turning 50 every year.

They're in their peak earning years, they're going to inherit $1 trillion from parents and grandparents in the next decade and they're out there buying homes,.

With land costs so high, the only way to build affordable homes is to go vertical, We're going to end up with a 50/50 mix of multifamily and single-family (homes), which is a significant change.

To understand just how significant, consider this: In 2004, the ratio of condo sales to single-family homes was about 1-to-7, according to the annual U.S. Census housing survey. Of all homes nationwide, there are 15 single-family houses to every condominium.

Learn About Home Inspectors and what you Home Inspector Must Know List

Inspection Experience: Years of dedicated practice can produce home inspectors with the ability to discover defects that would be missed by inspectors with less experience.

Error and Omissions Insurance: The importance of E&O insurance is often stressed as an important consideration when hiring a home inspector. If an inspector fails to report a major defect, the deep pocket of an insurance company may be the only recourse.

Building Code Certification: Code certification is not a professional requirement for home inspectors, some inspectors acquire code credentials to increase their knowledge of potential building defects.

Formal Home Inspection Training: A common mistake among new home inspectors is to rely on past construction experience, rather than on specific home inspection training.