2010: Real estate fortunes have been won and lost at record speed in recent years with millions of families “under water” in their current homes, losing their homes to foreclosure and just plain befuddled by what was once the safest of investments. PETER RICHMOND podcast excerpt: "A pre-approval means you actually made a formal application for the loan. It's been under-written and you do have a loan. If you're in a competitive seller's market, having a pre-approval is absolutely the gold standard. It gives you an advantage, absolutely."  Buying or selling a home is one of the biggest financial transactions that most people will ever make. First-time homebuyers in particular have no idea where to start. What they need is a road map and an experienced guide that can advise when to shop and when to not, what’s a gem and what’s a scam. Peter Richmond is probably that guy. He’s the author of The Complete Idiot’s Guide to Buying a Home. If anyone can offer good, simple advice on how to do it, it’s got to be him. Peter Richmond