Home shopping online has become a mainstream way for the public. But going shopping alone – without the help of a professional – can become a huge handicap for home buyers.

Here are four reasons why home-shoppers need the help of a real estate professional.

• Searching only online means shoppers can miss some of the best alternatives. Shoppers who limit themselves to only looking at real estate Web sites will overlook some very good properties, possibly one that is perfect for them, and they won’t get up-to-the minute information.

• Lookout for fake listings. People trying to collect page views so they can pump up their advertising returns can waste the time of real home shoppers. Using a professional to vet properties before spending a lot of time trying to track down these decoys will save time and ultimately money.

• Home value Web sites only go so far. Sites like Zillow.com and Cyberhomes.com put prices out there that may or may not be an accurate reflection of neighborhood or housing value. Working with a professional means the buyer gets the benefit of a broader range of knowledgeable resources.

• Understanding the process. Once they’ve found a property, working with a pro means they’ll follow the right path to close the deal. For anyone–but experienced investors–going it totally alone can be risky.

Source: US News & World Report, Matthew Badyk (01/07/09)

Freddie Mac is extending the suspension of foreclosure sales and evictions on occupied single family and two- to four-unit properties covered by mortgages it owns until Jan. 31.

The suspension doesn’t include vacant single-family properties.

The extension will provide extra time to loan servicers to help troubled borrowers find alternatives to foreclosure. It will also allow extra time to implement the Streamlined Modification Program, which went into effect on Dec. 15, 2008, and sets out to expedite loan modifications for eligible borrowers who have missed three or more mortgage payments.

Source: Freddie Mac (01/08/09)