CALIFORNIA REAL ESTATE
UPDATE #13

Each week I get to read and review at least one new real estate book.. Most are quite good. A few were awful and never should have been published.

Today, we honor the "top 10" real estate books of 2002. Each book is available in stock or by special order at better bookstores, public libraries, and www.amazon.com. Just in time for holiday gift-giving, in no special order, here are the 10 best real estate books of 2002:

1. HOW TO BUY A HOME WHEN YOU CAN’T AFFORD IT
   By Robert Irwin (McGraw-Hill, New York)
   $14.95, 207 pages.

   This survey book explains virtually all the home purchase alternatives, such as different types of houses and condos, as well as low cost finance alternatives. Aimed at first-time home buyers, this well-designed book explains home buying techniques which less-than-perfect home purchasers should consider.

2. HOW TO SAVE THOUSANDS OF DOLLARS ON YOUR HOME MORTGAGE, SECOND EDITION
   By Randy Johnson (John Wiley and Sons, New York)
   $17.95, 270 pages.

   Whether you are a home buyer, refinancing homeowner, or a real estate agent, this book is packed with insider knowledge you’ll enjoy from an experienced mortgage broker. Written from the viewpoint of a mortgage lender, the author shares tips savvy borrowers need to know to avoid being ripped-off by their lenders.

3. MAKING BIG MONEY INVESTING IN REAL ESTATE WITHOUT TENANTS, BANKS, OR REHAB PROJECTS
   By Peter Conti and David Finkel (Dearborn Publishing Co., Chicago)
   $18.95, 252 pages.

   This unusual realty investment book explains how to profitably buy and sell homes with lease-options, avoid the drawbacks of big cash down payments, eliminate extensive fix-up work, and forget about mortgage lenders. The authors explain the best real estate negotiation techniques I’ve ever encountered.

4. THE 106 COMMON MISTAKES HOME BUYERS MAKE (AND HOW TO AVOID THEM), SECOND EDITION
   By Gary W. Eldred (John Wiley and Sons, New York)
   $16.95, 299 pages.

   The author, an experienced real estate investor and author, shares advice for first time and second home purchasers. Emphasis is on mistakes to avoid, but there is also plenty of essential information on how to handle typical home purchase problems.

5. MAKE IT BIG!
   By Frank McKinney (John Wiley and Sons, New York)
   $24.95, 271 pages.

   Written by a successful and very innovative home builder, this unique book explains how to take calculated real estate risks and become prosperous. The author, who began his real estate career as a ditch digger (actually a sand trap digger at a country club), tennis instructor, fore- closure house buyer, and evolved into a developer of multi-million dollar oceanfront “spec houses,” shares his secrets in 49 short risk-taking chapters.

6. HOUSE HUNTING
   By Dian Hymer (Chronicle Books, San Francisco)
   $19.95, 163 pages.

   Created by a very successful 25-year real estate broker, this unusual book has a convenient format for organizing your home purchase quest information. It is like a work- book, with lots of checklists, plus pockets for holding paperwork received along the way. Also included are important sample forms, such as purchase contracts, inspection reports, and seller disclosure forms.

7. HOW TO BECOME A POWER AGENT IN REAL ESTATE
   By Darryl Davis (McGraw-Hill, New York)
   $24.95, 218 pages.

   Written by a real estate trainer of high-earning agents, this book should be required reading for every new and experienced real estate sales agent because it explains methods to become successful. Although the emphasis is on obtaining listings, there are lots of details about representing home buyers, negotiation techniques, marketing methods, and everything else a prosperous realty agent must know.

8. TWENTY-ONE THINGS I WISH MY BROKER HAD TOLD ME
   By Frank Cook (Dearborn Real Estate Education Co., Chicago)
   $15.95, 169 pages.

   Realty agents and their brokerage office managers should study this very positive book to learn what is essential for successful salespeople. There are dozens of interviews with agents who share their techniques which made them outstanding.

9. UNLIMITED RICHES
   By Robert Shemin (John Wiley and Sons, New York)
   $24.95, 187 pages.

   Written by a successful realty investor in over 400 properties, this book explains why realty investing can be so profitable and how to build wealth by owning properties. The numerous examples make the author’s experiences, plus those of other investors, very relevant. The negotiation techniques are especially valuable.

10. HOW TO FIND HIDDEN REAL ESTATE BARGAINS, SECOND EDITION
    By Robert Irwin (McGraw-Hill, New York)
    $14.95, 201 pages.

    This survey book explains how to profit from virtually all realty bargain properties, such as foreclosures, probates, government property sales, REO (real estate owned by lenders), and other distress property situations. Emphasis is on low-cash purchase methods, along with methods for discovering these often-obscure realty bargains.

    
    

HONORABLE MENTION:

1. HABITAT FOR HUMANITY HOW TO BUILD A HOUSE
   By Larry Haun (The Taunton Press, Newtown, CT)
   $24.95, 277 pages.

   Written by a carpenter volunteer who helps construct Habitat for Humanity homes, this superb "coffee table quality" book explains techniques developed to build inexpensive homes which cost under $50,000 to build. The beautiful color photos show inexperienced workers performing often complex tasks which have resulted in over 100,000 Habitat houses being built with volunteer labor.

2. EVERY LANDLORD’S LEGAL GUIDE, FIFTH EDITION
   By Marcia Stewart and attorneys Ralph Warner and Janet Portman (Nolo Press, Berkeley, CA)
   $44.99, 365 pages plus CD-ROM.

   This awesome book, with legal advice and rental forms valid in every state, is filled with sound, practical information designed to make landlords confident of making correct decisions. Emphasis is on preventing problems with tenants by using successful property management techniques.

3. HOW TO GET STARTED IN REAL ESTATE INVESTING
   By Robert Irwin (McGraw-Hill, New York)
   $14.95, 225 pages.

   Developed from the perspective of a young couple beginning their realty investments by purchasing their personal residence, this book shows how to acquire many investment properties with virtually no cash down payments. By purchasing fixer-upper homes with little cash, the author shows how to acquire a realty portfolio which is likely to appreciate in market value to build long-term profitable equity.

4. THE LANDLORD’S KIT
   By Jeffrey Taylor (Dearborn Trade Publishing Co., Chicago)
   $18.95, 219 pages.

   Known among realty investors as "Mr. Landlord", the author shares his property management techniques and over 100 real estate forms for virtually any situation a landlord might encounter. The author puts a positive spin on managing properties, such as rewarding his best tenants.

5. THE MORTGAGE KIT, FIFTH EDITION
   By Thomas C. Steinmetz (Dearborn-Kaplan Publishing Co., Chicago)
   $19.95, 156 pages.

   This simple how-to-get-a-mortgage book explains the latest mortgage programs, including Internet offerings. Emphasis is on qualifying for a home loan and how to handle typical problems, such as a low appraisal of the home.

6. RENTER’S RIGHTS: THE BASICS, THIRD EDITION
   By attorney Janet Portman and Marcia Stewart (Nolo Press, Berkeley, CA)
   $24.99, 210 pages. 1312 WORDS.

   This well-researched book contains simple non-legalese explanations of state-by-state renter’s rights. Emphasis is on showing tenants how to avoid being pushed around by their landlords, with special attention to practical rather than court remedies for typical disputes.