Question: Do you know if trees add value to a home? If so how can I get more information regarding this issue?

Answer: The National Arbor Day Foundation has posted estimates which suggest that real estate values may rise by 6 to 7 percent, and that landscaping with trees can increase values by as much as 20 percent.

The real issue, though, is how trees interact with a particular home and property. For instance, on a recent house-hunting expedition my wife and I saw a property which consisted of a house, some 8 acres of land and so many trees you could barely see daylight. In this case fewer trees might have been better.

As well, big trees that overhang houses need to be tended with care, dying trees in residential areas need to be taken down, trees can brush against power lines unless trimmed and trees can certainly deposit enormous volumes of leaves and debris.

Thus the proper equation is probably that trees which are well-sited and healthy add value to homes, trees which are diseased, too numerous or too near a house may well be a liability.

Question: I have interviewed at least five different brokers and had a listing with one but no success. I understand that the market may have slowed down, especially for homes on 4+ acres in the $600,000+ price range, but I also know the agents in the area are not willing to really do any extra advertising nor are they willing to look outside the area for buyers.

My question: Can I try to find a real estate agent outside our county to sell our house? Is this allowed?

Answer: Any real estate broker licensed in your state can be engaged to market your home. That said, it's a huge mistake to bother with a broker who is not physically local.

Real estate is a localized commodity. A broker who is active 50 miles or 500 miles away likely knows little if anything about your property, local trends, local news and the core factors which impact value.

As to advertising, most sales are made locally. According to the National Association of Realtors, a typical buyer purchases within 18 miles of where they now live. It makes sense to advertise locally on the broker's website and MLS, but the odds do not favor long-distance marketing.

Try this: Ask how long homes such as yours are typically on the market. Ask if your broker is following the marketing plan that was discussed when the home was first listed. Ask if the market is now changing and what additional steps might be appropriate to market your property.

Question: Our neighbors have four boys, two under the age of five plus two teenagers, and the landlord moved this family onto the second floor. This family is surrounded by three other apartments that do not have so much as one child. Is it really reasonable to assume that the noise coming from the three other apartments are going to be the same as the family of six?

There have been complaints about noise. If people don't want noise, tell them not to move by families with children. I had a family with three small kids living above us in our last apartment and many times it sounded like they were moving furniture all day. But did I complain? No. Because anyone who has any sense knows kids make noise!

Answer: Your landlord provided an apartment to a family which sought rental housing. Under the federal Fair Housing Act -- which bans discrimination because of familial status, among other reasons -- your landlord did the right thing.

When next the opportunity arises, perhaps rent a single-family home rather than an apartment. That will get you into a possibly-quieter situation as well as one where there are no co-tenants to complain.

Question: I'm interested in getting starting in "flipping" properties for a profit. My question is: Once I have a contract from the buyer and the seller, who will close the deal? Will I need to hire a real estate attorney to close? How can I create a effective standard contract for the buyer and seller and make sure that I include all of the important clauses in it?

Answer: Quickly buying and re-selling properties is risky, and there is no guarantee of profit -- especially if local home sales are slowing or stagnant.

Given the nature of your questions, it would be best if you first took the required course for real estate salespeople in your jurisdiction. You would then learn the basics and if you pass would qualify to take the sales exam. If you pass the exam you could then work for a broker and over time learn enough about the local marketplace to do your own investing.

Question: If I was selling my home between now and April (April will be two full years as primary residence), and I have been transferred within the state because of my job, how do I know how much of an exemption will I get if there is a capital gain?

Answer: To figure your capital gain you need to have a final sale price. However, the two-year residency may not apply if your new job is more than 50 miles from the old one. For details, speak with a tax professional and also see the IRS guidelines regarding safe harbor exceptions .

Question: Prior to Hurricane Katrina, I went to a foreclosure auction and put down 10 percent on a property. The title was not transferred prior to Katriana and afterwards the house had approximately five feet of water as the result of a levee failure. We asked for our deposit back and were told we could not have it. Can we get it back?

Answer: You bought the house. You obtained an equitable interest in the property when you bid, won and put down a deposit.

Imagine that you bid, won, put down a deposit and someone offered twice the sale price for the property before the title was officially transferred. Would you not want the higher price if you wished to sell?

For details, please see an attorney.

Question: I'm refinancing to take cash out for home improvements and to lower my rate. My credit scores are 614, 614 and 637. The rate the mortgage company offered me is 8.5 percent. Is this a good rate for my scores?

Answer: The interest rate offer you received is based in part on credit scores, but not entirely. The best way to see if the lender's offer is competitive is to check with other local mortgage sources.

Also, take a look at the calculator available at myfico.com . You can see how credit scores influence mortgage rates.

Question: Why is it that in some areas a homeowner can sell their home, and get a company to put it into the MLS for a small flat fee, while in other cities you can not do this?

Answer: In which areas, specifically, are flat fee brokers not allowed to participate in local MLS systems? Is this an urban legend?

Brokers are licensed by state governments on the basis of certain standards. How brokers charge is not one of them. Flat fee, discount and menu-of-service brokers have been around for decades and, as in any business, some are successful and some are not. Some belong to local MLS systems, some do not.

Question: My sister and I have owned a condo for more than 10 years. We pay for the monthly expense so that our mother could live there rent free. When she passes away, we plan to sell the condo. What kind of residence requirement do we need to meet in order to avoid the capital gains tax?

Answer: Generally you would have to live in the property for two of the past five years to claim the unit as a residential write-off.

This is a case where it may have been better to have mom own the property. Upon her passing, the property could have been willed to you at its stepped-up value. For specifics, please see a CPA, tax attorney or enrolled agent.

This column is designed to provide accurate and authoritative information in regard to the subject matter covered. It is made available with the understanding that neither the author nor the publisher is engaged in rendering legal, accounting, or other professional services. If legal services or other expert assistance is required, the services of a competent professional person should be sought.