Answers - Real Estate

House hunting can be the most exciting part of the home buying process. But it's also where a lot of first-time home buyers make mistakes. Without a solid plan, the house hunting process can be a lot of effort wit

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

h little reward.

Here are ten tips to help you get the most out of your house hunting experience.

1. Create a Realistic Checklist

Get out a piece of paper, put on your "realism" hat, and start writing do

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

wn the things you need in a home versus the things you want. You can organize them on the page however you like, as long as you separate the needs and the wants. Put a box next to each item, and then make photocop

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ies.

When you visit a home, take a copy of the checklist with you and write the home's address at the top. Then just go through the house and check off what it does and does not offer. This will help you remember

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

which house had what, especially when you're looking at many properties.

2. Be a Proactive Hunter

Obviously, your real estate agent will help with the house hunting process. But don't rely solely on your

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

agent. Go out there and do some hunting yourself. It's a necessity, but it's also exciting!

3. Get Web Savvy

The Internet can reduce your house hunting time by 50 percent or more. By previewing homes and

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

researching neighborhoods online, you can weed out the ones you don't want to visit. This will save you time, energy and gas money! Create a new folder in your Internet favorites or bookmarks. When you find a rea

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

l estate website that's particularly helpful, save it to the folder. This way, you'll only have to scour the Internet once.

4. Play Detective

When visiting a home, don't be shy about asking the sellers (o

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

r their agent) plenty of questions. Be friendly about it, but be thorough. Likewise, feel free to do a reasonable amount of "snooping." Don't violate the seller's privacy – just be sure to look in all the dark cor

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

ners, the basement, tools sheds and the like.

5. Validate the Asking Price

If asking prices were set in stone, they would be called "selling prices." Always compare the asking price of a home to recent sa

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

les in the area. Your agent should be expert at providing such "comps" to help you validate (or invalidate) the seller's asking price.

6. Visit During Rush Hour

That peaceful property you visited at 10:00

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

in the morning might be totally different at 5:30 in the evening. By visiting a home during rush hour, you're evaluating two things at once. First, you'll find out if traffic snarls make it hard to enter or exit

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

the neighborhood. Secondly, you'll be able to judge the noise factor at its noisiest time of day.

7. Test the Drive

While we're talking about rush hour, why not test out the morning commute to your work?

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

It might seem silly to do a rush hour commute from a home you're only considering, but think about how much time you'll spend commuting day after day. It's a big quality-of-life issue, so it deserves some consider

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

ation.

8. Look into the Future

Talk to the city or county to find out what their plans are for the area around the home. Will that beautiful forest across the street be a shopping center or a highway in t

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

wo years? You won't know unless you do the research. Don't expect the sellers to volunteer such information, because it's not in their interest to deliver bad news about the neighborhood.

9. Bring a Digital Ca

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

mera

Digital cameras are ideal for house hunting. You can take pictures of the homes you visit and save them in labeled folders on your computer. Which home had the swimming pool? Which one had the wood floor

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

s and crown molding? Just look at the photos and you'll remember.

10. Bring a Devil's Advocate

When visiting a home that could potentially become yours, it's easy to get wrapped up in the emotion of it al

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

l. Sometimes, emotion has a way of clouding our better judgment. A great way to counter this is to bring a friend or family member along on house hunting trips. In addition to providing company, a "disinterested w

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

itness" can offer an objective point of view. This is crucial when making such a large purchase.

* You may republish this article online if you retain the active hyperlinks below. Copyright 2006, Brandon Cornett.

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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