Eighty-seven percent of home buyers who used the Internet to search for a home, purchased through a real estate agent. Many popular sites for national as well as Ann Arbor home buyers’ search include:
Local Multiple Listing Service
60%
Realtor.com
48%
Real Estate Company Web Sites
46%
Real Estate Agent Web Sites
43%
For-Sale-By-Owner Web Sites
19%
Local News
I recently read a great article in Today’s Buyer Rep, a real estate magazine published by REBAC, called “10 Common Myth’s Shared by First-Time Homebuyers”. I wanted to recap portions of the article because I thought the content was very relevant. With prices down, interest rates low, and many great mortgage products available for first time home buyers, this is the perfect time for first
By john mazzaraAre you currently thinking about buying your first house? Real estate is a fantastic investment. Don't let the media hype fool you: low interest rates combined with reduced home prices make this an excellent economic environment for first-time home buyers. Here are a few tips to help you along the way.The first and most important thing to remember is to buy only as much house as you
On closing day, expect to sign a lot of documents and walk away with a big stack of papers. Here’s a list of the most important documents you should file away for future reference.HUD-1 settlement statement. Itemizes all the costs — commissions, loan fees, points, and hazard insurance —associated with the closing. You’ll need it for income tax purposes if you paid points.Truth in Lending s
1. Savings2. Proceeds from the sale of a primary residence3. Gift from Relatives or Friends4. Sale from Stocks or Bonds5. Equity from Residence (continue to own)
I was surprised to learn that 73%
When it comes to housing data, there are always two questions to consider:
How does this impact buyers?
How does this impact sellers?
This is why housing data is rarely positive or negative on a universal level -- one group of Americans is going to see benefit.
Today, it's home sellers.
From the government, we learn that Housing Starts fell to their lowest levels since 1947 last month. A "H
When it comes to housing data, there are always two questions to consider:
How does this impact buyers?
How does this impact sellers?
This is why housing data is rarely positive or negative on a universal level -- one group of Americans is going to see benefit.
Today, it's home sellers.
From the government, we learn that Housing Starts fell to their lowest levels since 1947 last month. A "H
Are you a home buyer in the Sacramento area and thinking about buying a house in Elk Grove, CA? There are some fantastic neighborhoods in Elk Grove which has three zip codes (95624, 95757 and 95758). There are many homes to chose from along with a variety of price ranges.
One of the reasons I like
According to the National Association of Realtors, NAR, the number of first time home buyers is definitely on the rise. The number rose from 39% to 41% in 2007. What do we attribute this to?
Several factors:
First time home buyers don’t have a home to sell before they can make their purchase so they are more
The "2008 National Association of REALTORS® Profile of Home Buyers and Sellers" shares some revealing information such as it reveals that the number of first-time buyers have risen as a percentage of the market share over the past year. According to Lawrence Yun, NAR chief economist, “First-time buyers are much more flexible in entering the market because they aren’t concerned about selling
Not too long ago, I met some home buyers from Austin, Texas, who had relocated to Portland. They invited me to coffee at Stumptown in SE Portland’s Belmont neighborhood.They were first-time home buyers and in the process of interviewing Realtors. They were also learning Portland’s neighborhoods and trying to understand the state of the Portland real estate market.The couple told me they want
Outstanding column in Naples Daily News offering buyer advice for navigating through today's market conditions. The column is authored by Tom Selck, a semi-retired architect and owner of Design Outside the Box.Buyers rule again after a decade. There aren’t many, but they will be happy. This may be the best time we will ever see to buy or build. But a new rule book is needed for this game. Buyi
By T J MadiganFirst Time Home BuyersIf you are a first time home buyer there is a lot that you need to know. The fact of the matter is that first time home buyers are at risk to make a lot of mistakes. The good thing is that this does not necessarily have to happen to you. Just because there are mistakes to be made does mean that you will get caught up in them. The best way to avoid problems is to
Great news for all first time home buyers of Laurel real estate. The federal government will give all first time home buyers a $7500 tax credit the first year they own their home. In fact, this credit is available to all first time home buyers of any Maryland real estate.
What this means is, if you buy a home the government will give you a $7500 credit the first year you are in the hom
This week two First Time Home Buyers will be having their home inspections. One new 1st Time home buyer is purchasing a home in Granite Bay and the other First Time home buyer is in contract on a house in Sacramento.
A home inspection is essential when buying a house or buying a condo. Even if a home buyer is
Buying a home is actually the easy part. The hard part is making sure that the homeowners will be able to meet the mortgage obligations. For this reason, home buyers are reminded to be very careful when making the decision to buy a home. If affordability is the primary issue being considered, then these foreclosed homes are just perfect.
For most home buyers and investors, the current market conditions are certainly not as appealing as they were during the housing boom. But if you look closely at what the recent events have resulted to, you might find the investment opportunity you might have been looking for all these times.
By Century 21 Properties Plus - Creaturo & AssociatesJust one more reason now is the time to buy...If you are buying your first home or you haven't owned a home in over 3 years you may qualify for a tax credit. depending on the price of the home you purchase and your gross income, you can get up to 7,500 tax credit. To receive the maximum tax credit of $7,500, you must have a adjusted gross in
Hike, bike, or ride, that's easy to do here in the Las Vegas Valley, and Henderson has plenty to offer and more planned for the future. Henderson won the 2008 Las Vegas Review Journal's 'Best Place to Ride a Bike' in it's 'Best of Las Vegas' awards this year. This Saturday, October 18, from 9 AM - 2 PM at the Events Plaza on Water St., they're having their National Trails Day Celebration with spea
In August, home builders broke ground on the fewest number of homes since January 1991.
It was the 16th straight month in which Housing Starts declined.
But, although the press labels these statistics indicative of a recession, home sellers nationwide quietly applaud them.
With fewer new homes coming on the market, home sellers are finding that there's less competition for buyers, helping them
In August, home builders broke ground on the fewest number of homes since January 1991.
It was the 16th straight month in which Housing Starts declined.
But, although the press labels these statistics indicative of a recession, home sellers nationwide quietly applaud them.
With fewer new homes coming on the market, home sellers are finding that there's less competition for buyers, helping them
I’m currently working with a great young couple trying to buy their first home. They both work full time, have good credit and are being financially responsible in terms of not over-extending themselves with a mortgage payment, not wanting it to be a hardship for them to make each month.
Like many young couples recently married [...]
I asked Steve Tedrow of Windermere Mortgage Services to give his opinion, along with some of the facts, about the new tax credits available to first time home buyers. The program is part of The Federal Housing and Economic Recovery Act of 2008. Here’s what Steve said:
“I think first time homebuyers need to take a [...]
Okay, maybe not all of them. I was a first time home buyer once, too.
** Oh sorry, I just drifted off to a dreamland involving no screaming kids or barking dogs. **
But the latest rounds of criticisms of the Housing and Economic Recovery Act of 2008 have gotten to me.
I’ll just say [...]
Buy a House - Get a Lawnmower - Save the Planet I ran across the Neuton Mower in an article in Outside magazine and I thought it would be a great gift for a new home buyer. So.....Anyone who buys...
The U.S. Tax payers want you.First time home buyers in Phoenix have some more financial flexibility with the new housing bill. They are still working on keeping the seller credits but we'll see how that comes out.Under the new housing bill which just passed last week first time home buyers defined as buyers who have not owned a home in the last three years are eligible for a tax cr
Lee Keadle
Here is your chance to learn from other home buyers’ mistakes! We’ve listed the five most common mistakes that a home buyer can make:
1) Failing to plan for the future ? Even if you think you will live in your new house for the rest of your life, you should still plan your exit [...]
RISMEDIA, July 31, 2008-Landmark housing legislation signed into law yesterday by President Bush is aimed at ending the current cyclical downturn in the housing industry, helping home buyers and strapped borrowers and strengthening the housing finance system, according to the National Association of Home Builders (NAHB).
“This milestone bill contains several provisions to get home buyers [...]
Yesterday, I told my team of 6 buyers agents to ask any of there new first time home buyers, “Do you have at least 3.5% to put down on your home?” It is no longer enough to ask a first...
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Statistics won't always tell the whole story, but they often provide good perspective.
The graph at right shows Existing Home Sales data going back three years. An "existing home" is one that can't be called new construction; a "used home", so to speak.
Note the steep decline from 2005 through late-2007.
Since November, however, Existing Home Sales have remained within a very tight range and appea
Statistics won't always tell the whole story, but they often provide good perspective.
The graph at right shows Existing Home Sales data going back three years. An "existing home" is one that can't be called new construction; a "used home", so to speak.
Note the steep decline from 2005 through late-2007.
Since November, however, Existing Home Sales have remained within a very tight range and appea
Surprise AZ Home Sales News There is a competition going on out there in certain parts of the valley. Buyers are crowding into homes and submitting competing offers and back up offers.Sound familiar? It's almost like the days of low supply and high demand in 2005, but this is in July 2008 a depressed market, a market with an oversupply and dooms-day naysayers standing on soap boxe
For many of us, our home represents the single largest investment we will ever make. One of the best ways to protect that investment is through the purchase of homeowners insurance. The problem is that many of us don't truly understand how a homeowners insurance policy works and exactly what our insurance policy will cover should a disaster strike. Rest assured, the home buyers essential guide wil
San Diego Real Estate Blog
Home Buyers in Chula Vista have a great way to search for all real estate available for sale in the Chula Vista MLS. They can use our Chula Vista Home Buyers Search tool to find all homes, condos, land, duplexes that are for sale in Chula Vista. Our search engine is [...]
Buying a home for the first time can be both exciting and intimidating. If you are looking for St. Johns County real estate for sale, your search will be an easy one. St. Johns County property has a lot to offer first time home buyer. Thus, the only ...
Buying a home for the first time can be both exciting and intimidating. If you are looking for St. Johns County real estate for sale, your search will be an easy one. St. Johns County property has a lot to offer first time home buyer. Thus, the only ...
San Diego Real Estate Blog
Home Buyers in San Diego have a great way to search for all real estate available for sale in the San Diego MLS. They can use our San Diego Home Buyers Search tool to find all homes, condos, land, duplexes that are for sale in San Diego County. Our search engine [...]
According to the report from Business Times, HDB's BTO saw a sharp drop in the number of applicants in the recent 2 projects.2 BTO projects draw only 111 on 1st day - Thu, Jul 03, 2008The Business Times The Housing and Development Board launched two new BTO projects yesterday with a potential 1,587 flats. But at the end of the first day, only 111 applications were received - a big drop from previo
A hint… if you’ve seen 30 properties, and you can’t picture yourself living in any one of them, it’s not that there’s something wrong with all of the properties on the market, it’s that your search criteria is unrealistic.
If you get to this point, it’s time to reevaluate your search, and ask yourself “Do I [...]
Sacramento Real Estate Voice has had a wonderful week. The best part of helping home buyers besides finding just the right house is handing over the keys to the home buyer’s new HOME.
This week was no exception. I love preparing a home buyer’s basket of goodies and presenting them their gift along with their keys.
It
Reading in between the lines on HDB Market No Slowdown: Mah Bow Tan , I again sense the minister putting subtle pressure on developers to lower prices. "Those people who can afford to wait, they'll wait", said Mah Bow Tan.His continuous assurance to home seekers of adequate HDB supply, I believe, has a lot to do with the huge buyers resistance we see currently in the property market, especially in
In real estate, the big all powerful rule is, location, location, location. That does not seem to change. You will always know that waterfront property, property with scenic views, property in a cul de sac, property in most desireable areas, will have a higher value. Who determines value? Not the seller, not the real estate [...]
This is an article that recently appeared on CNN Money's website on May 12. It outlines some good rules of thumb and urges you to make your move soon before you get bit:There's no guarantee that prices have hit bottom yet - but that doesn't mean that you can't get a great deal now.(Money Magazine) -- There's no telling how long the housing crisis will drag on. Here's what you need to know before y
I got an e-mail today that was very similiar to many that I've received in the past. It read, "My husband, Peter, and I are thinking about buying a house in the near future as we are quickly outgrowing our apartment (we have 2 young children). We have so many questions, and have no idea where to start. Do you have any advice?"
I referred them to a blog that clients of mine did several
"Land. They're not making any more of the stuff." Will Rogers
That quote was made many years ago. But it's still true today, isn't it! If it were possible to make more land, where would you want it located? That's your future neighborhood.
Do you know where you want to live? Do you need help selecting the best home for the money? If so, you'll value my experience and our RE/MAX P
"Land. They're not making any more of the stuff." Will Rogers
That quote was made many years ago. But it's still true today, isn't it! If it were possible to make more land, where would you want it located? That's your future neighborhood.
Do you know where you want to live? Do you need help selecting the best home for the money? If so, you'll value my experience and our RE/MAX P
It's choice - not chance - that determines your destiny." Jean Nidetch
In my business as a real estate professional, I encounter a wide variety of situations in a given week. It may include a first-time buyer searching for a starter home. It may be an out-of-towner exploring many neighborhoods. Or it may be a couple, having raised their family, now ready to move to a smaller home
It's choice - not chance - that determines your destiny." Jean Nidetch
In my business as a real estate professional, I encounter a wide variety of situations in a given week. It may include a first-time buyer searching for a starter home. It may be an out-of-towner exploring many neighborhoods. Or it may be a couple, having raised their family, now ready to move to a smaller home
"Ideas are like rabbits. You get a couple and learn how to handle them, and pretty soon you have a dozen." John Steinbeck
Not having a choice in buying or selling a home is frustrating. But having too many choices can be just as frustrating. So my job often involves generating a lot of options, but then carefully sorting them out.
In learning your criteria for buying or selling a
As a RE/MAX agent, I have everything I need to achieve our goals- yours and mine. My goal is to provide you with the best service possible.
While you'll purchase real estate for the long-term and for primarily your enjoyment, I believe that you should not pay too much. Alternatively, when selling, you should receive the best price for your home. I will work closely with you
"Life itself is a matter of salesmanship." Thomas J. Watson
High-pressure salespeople turn me off. I don't know about you, but when I start to feel pressure, I stop listening. I usually just say "no" and move along. I never want to be one of those high-pressure people. I like my working relationships to be smooth and comfortable.
It seems that some homebuyers know just what they want. They l
Assure that your first time home buying experience is a good one. Use the same strategies that professional investors use to your advantage. Don't let you first home purchase turn into a nightmare.
I Want My Own Home... But How Do I Begin...Even if you are certain of your financial readiness, perhaps you don't know how to start looking for a house, or all of the preparations necessary before making a purchase or how to deal with realtors, banks, mortgage companies, all the complicated legal docs and more?Buying a home is a great idea if the timing is right and if the purchase is made for the right reasons. Although there is certainly no problem with being a perpetual renter there is also a great deal of pride that goes along with owning your own home"First Time Home Buyers: The Insider's Guide" answers the questions potential first-time home buyers have, and many that they never knew to ask, as well. It provides the direction and information you need to go from being a frustrated re
When you first decided to start in real estate investment that you were probably instructed to formulate a buyers list. This was a list of names of people that were looking for property. You were told that “with a good buyers list you may never have to put a property on the open [...]
April 29, 2008 PropNex takes home buyers to court over fee dispute Case hangs on whether flat buyers who deal without agents should pay a commission, too By Tan Hui Yee A COUPLE who bought a home and refused to pay the seller's agent the 1 per cent commission are being taken to court by a property company. PropNex associate director Ricky Low Yong Sern is seeking about $4,000 in commission or a service fee in a case that is likely to turn the spotlight on the issue of whether home buyers should pay a fee to sellers' agents. He was the exclusive agent handling the sale of a terrace house in Whampoa built over 30 years ago and classified as a Housing Board flat. Marketing specialist Loh Yi Min, 29, and his wife, polytechnic lecturer Ariel Wee, 33, bought it for $400,000 in April last year.
Significance of Home Information Pack and Home Buyers Information Pack
In order to make the process of buying and selling homes fair the government of England and Wales introduced Home Information Pack. The Home Information Pack was introduced on 14th December 2007. Home Information [...]
From the AP:In an ominous snapshot of how the sagging real estate market and sour economy are intersecting, the Associated Press-AOL Money & Finance poll also found that 60 percent said they definitely won't a buy a home in the next two years.That was up from 53 percent who said so in an AP-AOL poll in September 2006. Only 11 percent are certain or very likely to buy soon, down from 15 percent two years ago.In today's economic climate, even holding onto what they already have is a challenge and source of distress for significant numbers of homeowners. Nearly three in 10 said they are concerned their home's value will decline over the next two years, while 14 percent of mortgage holders expressed worry that they might miss payments in the next six months.
"Your wish is my command." GeniePart of my job as a real estate professional is to listen to my customer's "wish list" and then work to find a home that grants those wishes. With each new customer comes a whole new set of "wishes." Some want a home in the country with five bedrooms and a family room big enough to play volleyball. And some others want a small home in the suburbs with two bathrooms and a formal dining room. No matter what type of property you are looking for, you'll find it on my web site at www.RichmondVAHomes4Sale.com. You can even build your dream home and let the computer search for properties as they become available - all without talking to a real estate agent.If you'd like to talk to me personally, I've l
"Nobody goes there anymore. It's too crowded." Yogi BerraThe real estate market is crowded with choices. Homebuyers are faced with choices about areas, properties and agents with whom to work. I'm making time to deliver Premier Customer Service to you and your friends.I'd like to stand out from the crowd. That's why I offer you more information and more real estate knowledge. Please visit my web site at www.RichmondVAHomes4Sale.com. You'll find community information, recent home sales, and thousands of homes for sale. We have all the news and information on real estate. You can even use our dream-home finder to search for homes and get emails when the right home comes on the market.I'm writing because you may know of someone m
Tallahassee and Leon County, Florida, offers a big variety of neighborhoods, in all price ranges and with various architectural styles. One of my favorites is Killearn Lakes Neighborhood in the north end of Leon County, with Lake Iamonia, one of the areas largest lakes, bordering the northern boundary of this community.
Killearn Lakes is a popular community with [...]
A draft regulation submitted to the Government by the Ministry of Construction would make it easier for Viet kieu (overseas Vietnamese) to own homes in Viet Nam.While the Housing Law of 2005 paved the way for Vietnamese expatriates to own a house or apartment in Viet Nam, the requirements are demanding and the procedures complicated.Only 137 Viet kieu have been able to buy property legally here since the restricted qualifications to buy a home in the country took effect two years ago, according to the Ministry of Construction.
A draft regulation submitted to the Government by the Ministry of Construction would make it easier for Viet kieu (overseas Vietnamese) to own homes in Viet Nam.
While the Housing Law of 2005 paved the way for Vietnamese expatriates to own a house or apartment in Viet Nam, the requirements are demanding and the procedures complicated.
Only 137 Viet kieu have been able to buy property legally
Buying a home is exciting. FHA Mortgage programs are back! Well they never went away, it is just that not many mortgage companies were using them because there were so many other programs that competed with FHA that these loans had decreased in popularity. Learn more about these great mortgages in this article.
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Eppraisal provides free home valuations, data on comparable homes, recent sales, neighborhood details and local market trends. If you are looking to buy, sell or refinance a property let our valuation tools be the first step. Eppraisal can also help you o
Keywords: house, home values, real estate, property, property value, market value, real [...]
On March the FHA (Federal Housing Administration) increased it’s single family home loan limits from $200,160 to $271,050. FHA provides mortgage insurance on FHA loan programs through their approved lenders. FHA is a quasi-government agency that is a part of HUD. FHA operates as a business generating enough income so that it does not have to rely on the government
ABQjournal Homes: '08 May Be Good for Home Buyers: "The year 2007 was a banner one for home sellers in the Albuquerque area, with houses fetching the highest prices on record. But if January sales numbers are an accurate forecast, 2008 will be more favorable for the buyer.The average sales price for an existing single-family detached home last year was $243,089, a 6.3 percent increase over 2006; the median was $198,500, a 5 percent increase, according to year-end statistics from the Albuquerque Association of Realtors."Albuquerque Real EstateRio Rancho LandAlbuquerque Real Estate News
You’ve stacked up bills and late payments for months, unable to pay anything. You’re facing the repossession of your home. You’re so worried about where money will come from that you have trouble sleeping. Pretty soon you won’t even have a house to call your own. What can you do to escape this financial nightmare?
Does [...]
The quick answer is yes. It seems to be a buyers market for home sales almost everywhere thanks to the media. The media pounds us everyday with bad news about the credit industry, foreclosures, high gas prices, the weak dollar, etc. Some of it is true and some is, well just over exaggerated to say [...]
We have been looking at all the economic indicators, paying close attention to the media, listening to all the economic pundits to make sense of the Daytona Beach Real Estate market. We have decided it's all off target!
Many sellers with their homes on the market are wondering, "Where have all the home buyers in Loudoun County gone?" Well, the answer is they haven't gone anywhere - they're still right here. The reason why some sellers haven't seen...
Sacramento First Time home buyers often ask if their credit score is REALLY all that important.
The answer is a big, YES.
Your credit score is like the grade you received in school. The higher points you made on a test the better grade you got.
The higher your credit score, known as the FICO score, the better [...]
ABQjournal Homes: '08 May Be Good for Home Buyers: "The year 2007 was a banner one for home sellers in the Albuquerque area, with houses fetching the highest prices on record. But if January sales numbers are an accurate forecast, 2008 will be more favorable for the buyer."Albuquerque NM Real EstateRio Rancho Real Estate BlogAlbuquerque Real Estate Blog
Before you buy a new bigger house
Tips for second time home buyers
I’m writing this article from personal experiences. Many times in life we look back on financial decisions and not necessarily regret those decisions but wish we would have though through the consequences more before signing the paperwork. Buying a home is definitely no different and [...]
Now is the BEST TIME for First Time Home Buyers to purchase a home in Florida within the last decade due to a combination of several factors:
Decrease in Home Prices
High Inventory Levels means lots of choices for buyers
High number of foreclosures
Higher Property Tax Exemptions
Low Interest rates
Here is some information for buyers with low or moderate [...]
Over the last decade, typical conventional lenders have been offering 100% financing to home buyers This usually involves creating an 80% first trust deed and a 20% second trust deed. This further allows home buyers to purchase a home with no money down. To understand how this works, you will also need to understand two basic types of loans: Conforming and Jumbo.Conforming interest rates cover loan amounts up to $417,000. Jumbo loans amounts cover loans over $417,000.The differences between conforming and jumbo loans are usually the interest rates and certain conditions required. Conforming interest rates are lower than jumbo interest rates.When you are looking on the internet for current interest rate quotes, the typical rates shown are for conforming rates.Your first trust deed or the 80
Highland Park - The second phase of Intracorp's real estate development offers luxurious townhomes and duplexes and a long list of on-site amenities. The Highland Park townhomes in Intracorp's neighbouring Glenmore community are no less impressive. Published in Westcoast Homes in December 2007. Move-up homebuyers yearning for a lock-and-leave lifestyle without compromising space or location are flocking to Intracorp's Highland Park townhomes development in the upscale Morgan Heights area in South Surrey. With the first release now sold out, Intracorp has just released the second phase of this luxurious collection of townhomes and duplexes. Susan Rutledge, Intracorp's Director of Sales, says the Highland Park homes at Morgan Heights South Surrey are aimed at homebuyers who love the space of a single-family home but who are looking for a lifestyle that doesn't involve entire weekends spent doing yard work."Most of our buyers are coming from the immediate area and are fi
As a First Time Home Buyer, you have probably weighed all of the options of buying v.s. renting your own home, and you've come to the conclusion that buying a home is still a great investment into your future.In my series for First Time Home Buyers, I have outlined the steps that you should take to ensure that your first home purchase is a smooth transaction. If you have been following the steps, you know that it is very important to know what you can afford. You also know that you will have a distinct advantage in purchasing your new home, if you've taken the time to get pre-qualified, or better yet, pre-approved.If you are like many other First Time Home Buyers, you might have concerns about the down payment, and the closing costs. If you live in Oregon and you are in the low to moderate income range, Oregon Housing and Community Services offers many options to assist you in your goal of home ownership. Some of these services include down payment assistance programs
There is one book that home buyers and interested real estate aficionados should refer to, and that is the Real Estate Book. This small size, easy to carry, book, provides photos of homes on the market, great quality descriptions for the homes, and a listing of dedicated real estate agents. To get the book is [...]
First Time Home Buyer’s Seminar
January 24, 2008
6:30pm-8:00pm
2401 Lake Park Drive Suite 300Smyrna, GA. 30080
Are you looking to buy your first home? Join us for a free First Time Home Buyer’s Seminar! There is absolutley no cost to you! Reservations must be made by January 22,2008! Call (404) 348-0420 to reserve your spot!
Training materials will be given to each family! This seminar will give you the great information and preparation you will need to purchase a home!
Light refreshments will be served. Registration starts at 6:30pm!
Seminar presented by:
Jennifer CowanMaxsell Real Estatewww.TheCowanConnection.com
and
Sally W. HambySunshine Mortgage Corporationwww.sunshinemortgage.com/sally.hamby
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Congratulations! Now that you have made an offer You are on a fast track to owning your first home! But your work is not complete. In order to protect yourself, and your investment, you need to order a complete home inspection, prior to closing on the home.Why is a home inspection important? A Home inspection is crucial because you should make sure that the home you intend to buy is in good condition. Several years ago, the actor Tom Hanks did a movie called "The Money Pit". The story centers around a couple who buy a beautiful home, one that they consider to be the home of their dreams. It is highly unlikely that they had a home inspection done, as problem after expensive problem begins to surface. For every dime they spend to resolve one issue, another expensive issue would appear, hence the movie's title "The Money Pit"Although the story is fictional, the movie could serve as a precautionary tale of what NOT to do when buying a home. The circumsta
I can't count the number of times I pre-approved people before the Holidays, only to see their credit scores have dropped by the time they find a home during the Spring market. The culprit you ask, why its excessive Holiday spending of course. Lets face it, we as red blooded Americans spend to much money, a lot of which is credit debt. This just in, revolving trade lines (i.e. credit cards) that have a balance of more than 50% of the limit WILL LOWER our credit scores. Credit cards that are maxed out with consistent minimum payments is a sure fire way to have the old credit scores in the low 600s. I won't bother to insult your intelligence by telling you the impact of late payments on our precious ficos.I know what your thinking, "but Steve, I'm doing a conventional loan with 10% down and the rate is the same whether my credit score is a 600 or an 800." Well not any longer! New guidelines from Fannie Mae and Freddie Mac for most conventional mortgage products state that rates will b
The process of finding a home for the first time can be challenging, but if you are properly equipped and know what to expect during the process, looking for your first home can be an exciting, and rewarding experience. If you have been following my First Time Home Buyer series, then these are the steps that you've completed so far:Common Mistakes Smart People Make When Buying Their First Home First Time Home Buyers - Consider Five Reasons Why You Should Buy First Time Home Buyers - Find Out How Much You Can Afford First Time Home Buyers- Getting Pre-Qualified Buying Your First Home? Find A Great Buyers Agent!First Time Home Buyers- You've Hired A Buyers Agent- What's Next?Now, your Buyers Agent has been working hard for you, looking for homes that match the wish list that you submitted and reviewed. Keep in mind that you may have to view a few homes before
In my series for First Time Home Buyers, I have been covering the steps that a First Time Home Buyer should follow in orderto make sure that the purchase of your first home runs smoothly.If you are reading this for the first time and want to re-visit my previous blogs on this subject, here is what we've covered so far...Common Mistakes Smart People Make When Buying Their First HomeFirst Time Home Buyers - Consider Five Reasons Why You Should BuyFirst Time Home Buyers - Find Out How Much You Can Afford First Time Home Buyers- Getting Pre-Qualified Buying Your First Home? Find A Great Buyers Agent!So, to pick up where we left off, you should be in the process ofinterviewing and hiring a Buyers agent to begin the process of looking at homes. Because you have gone through the process of getting pre-qualified, or pre-approved, you know what pricerange to provide your Buyers agent with, but have you given any thought to what you really want in a home? If you haven't done s
If you have made the decision to purchase your first home, Congratulations! Home ownership has many advantages and benefits, and you are in a perfect market to find the home of your dreams. Before you employ the services of a Realtor®, there are several steps that you will want to follow to make sure that the purchase of your new home is as smoothas possible. One of the first things you'll want to do is to find out how much you can afford for your new home. Getting pre-qualified by a qualified lender is one of the first things that you can do to get the ball running. There are many reasons why this will give you an advantage; Pulling a credit report will give you the chance to correct any errors that might appear.Shopping for rates will give you more knowledge about rates, fees, and the monthly payment you will be making and more.Knowing how much you can afford gives you bargaining power when you do find the home you would like to own.Pre - qualification
Now that you've made the decision to buy your first home, the process of buying a home can be confusing, andcomplicated. Where should you start? Find out how much you can afford. To get started with the process, consider getting pre-approved with a lenderprior to making an appointment to view homes with a Realtor®. This will give you more leverage when you areready to make an offer once you've found the house you'd like to call home. In my blog Common Mistakes Smart People Make When Buying Their First Home , I explain how important it isto decide which lender you would like to work with. Multiple credit inquiries may affect your credit rating and have a negative impact on loan amount, interest rate, etc. Avoid Giving your Social Security Number out to severaldifferent mortgage companies while shopping for rates. The Department of Housing and Urban Development offers these free links to calculators that can assist you,but
If you've considered the benefits of buying a home, and you are like most first time buyers, you've probablyhad reservations about whether buying a home is right for you.The more you know in advance about buying your first home, the easier the whole process will be for you.Here are five great reasons why you should buy a home now:Property Appreciation:Even though real estate moves up, and then down, over a period of years real estate has consistently appreciated, and many who purchase their home consider their investment as a hedge against inflation.Property Tax DeductionsReal Estate property taxes paid for a first home and a vacation home are fully deductible for income tax purposes. Read what the IRS has published regarding tax information for first-time home buyers.Mortgage Interest DeductionsOur tax rates highly favor those who own their home. Mortgage interest is fully deductible on your tax return, as long as the balance on your mortgage is smaller than the pr
Don't bite off too much house...The age old method of home loan affordability could lead you to disaster and we're finding more and more queries and complaints about affordability and first time home buyers getting themselves into debt. Here's how to get a better idea on what you can afford.I was going to start this off by saying "20 years ago..." but it's not, it's not even 6 months ago that first-time home buyers were encouraged to maximise their profitability and put all their investments and savings into a massive house. Stretch yourself and buy that R2,000,000 apartment. Hey, for first time buyers back then it even made sense.Lets face it folks, today, it's asking for SH!T, pardon my french.Here's what's changed in 20 years (or more) since your parents bought their first house:Inflation. Price increases in the last 5 years meant you could count on hefty annual raises.It's no longer just you. A generation ago, single-income families were more common. If the breadwinner los
When a person starts to buy their first home there is a lot of excitement, fear and tons and tons of stress. The statistics show that buying or selling a home is one of the leading causes of divorce in our country. I discovered that there are areas that first time home buyers need explained to them, to help decrease the amount of stress throughout the process.One of these areas that need to be explained is the differences between a pre-approval letter and good faith estimates. I can count numerous times when clients come to me after I tell them to get pre-approval and they bring back a letter in which they are pre-qualified and show me a good faith estimate, many times without their credit being ran. I explain to them that their good faith estimate is just that (an estimate) and that there is no guarantee they will get that rate or approval, and that they need to have their credit run so that I can effetively target the price range that they actually do qualify for. I also
The average age of a Realtor is 51. The average age of a first time home buyer in the United States is 31. That is an entire generation gap. And it is not an easy gap to cross.
I am 40 years old and I wouldn't take much advise from most of the 50 year olds I come across in my daily life. They are, for the most part, too far behind the technology curve. They have a sense of style that is stuck in the 80's. They have flowery wallpaper in their houses and bisque colored appliances in their kitchens. Their furniture is big and oak. Their family rooms are small and their formal dining rooms are huge. Their basements are dark, dank and dungeon-like.
And these are the people that want to sell homes to first time buyers. No wonder first time buyers never give their phone numbers out and do all the research themselves. They don't trust that the 50 something-year-old ladies that answer the phones at real estate offices can
CENTURY 21 Key Realty is sponsoring a Home Buyers Seminar on Tuesday, November 13th, 6:30 pm at the Westgate Community Center. Home sellers are welcome as well!
Free information on buying or selling a home from the experts. Representatives from select mortgage companies, home inspectors, and pest control companies will be on hand to answer your questions. Several door prizes will be given away and there is no obligation! Bring a friend! Register early for the best chance at a door prize!
Sponsors include-
Mortgage America
The Mortgage Shop
Wachovia Bank
Terminix
Southern Home Inspections
CENTURY 21 Key Realty Home Buyers Seminar
Tuesday, November 13th, 6:30 pm
Westgate Community Center
For more information, please give one of these REALTORS a call
Judy Spears - 334-333-3612
Dick Henk - 334-803-7272
Margaret Patrick - 334-701-6357
Keshia Nix - 334-618-5242
Gloria Lefebvre - 334-805-8500
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We as real estate agents get asked a lot of questions. Answering those questions is one part of this business that I love the most. There are questions that are asked more often than others, and here are arguably the five we are ask most often.
How much home can I afford?
Generally speaking you can probably qualify to purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend on your employment history, credit history, current savings and debts, and the amount of down payment you are able to make. You may also be able to take advantage of special financing options. You never want to purchase a home that will have payment that you can not afford.
How do I find a good agent to work with?
One sure way to find a good real estate agent is to ask friends, family, or a neighbor that has purchased a home recently. Get them to tell you what they liked best about their experience, and what they didn’t like. If
5 Things You May Not Know About Buying a Summit, NJ Home
Realtors are free for buyers in New Jersey! If you are a buyer interested in learning about real estate, curious about the market, or actively seeking your dream home you should begin to build a relationship with a Realtor. Realtors can provide you with [...]
Several months ago I received a First Time Home Buyer referral for the Pleasant Hill area of Contra Costa county from Susan Kingsley of Empire Realty Associates who has worked with these clients for two years. These hard-working, diligent, financially responsible people passionately want to own a home and have run into one road-block after another in their quest.When I initially met with these potential buyers, I also was unable to provide a mortgage approval but I did not want to be just another "NO" so we sat down and prepared an Action Plan. The Action Plan included correcting credit report errors to improve their credit scores, debt repositioning, reviewing their budget, and looking at their long-term financial goals which included setting aside funds for their 11 year old daughter's education.In the middle of completing the Action Plan, two major road-blocks popped up: mortgage guidelines for $0 down payment loans became more
Homebuyers buy a "house" and immediately want to make it "their home". Here's a couple of tips to help in that process.1. Make a list of EVERYTHING you would like to change about the house to make it more appealing to the buyers. 2. Prioritize all of the items. Most important item on the top and least important on the bottom. Do not over whelm yourself with too many little small things to do, but the major curve appeals and 3. When you are ready to start on your list....FLIP IT OVER! ! ! Yes...that's right....flip it over and start from the bottom.. You will ALWAYS get the most important items done but inevitably you will learn to "live with" the items that aren't as important. As an example: When you start painting your house.....start at the back of the house....because you know that you will ALWAYS paint the front....Right??? the Mother
It's no secret that real estate is experiencing a market slump; in fact sales are lower than they've been in 16 years. Wall Street economists compile a seasonal market forecast; a rating higher than 50 indicate a positive market. The current forecast was only 30 and has remained below 50 since may of 2006. Gone are the golden years of bidding wars or listings at unrealistically high prices. For the seller, it's time to come back to reality and do whatever it takes to sell your home. For the buyer, your time has arrived!What has caused this slump? It's actually a combination of factors including high mortgage rates; 30-year, fixed-rate mortgages average over 6 percent, the highest in over a year. Also, tighter standards have been imposed for obtaining a mortgage, thus decreasing the amount of qualified buyers. The overall market uncertainty has created some wary buyers who are content to stand by and watch the housing trends.With new homes creating about 15 percent of all home sales
Welcome to Ms. Latina Renee Enterprise, LLC. Be sure to subscribe to receive free updates before you leave the page.Many home buyers are looking to make wiser deals now more than ever since we are in a national housing crash. Here are a couple things to consider when inquiring about a new home loan...Try to borrow as less as possible. The borrowers who borrowed to much are now facing foreclosure.Get a fixed rate. Adjustable rates are okay, but in today's market and this country's deficit, rates are being adjusted upward.Be sure to keep this in mind when you are applying for free mortgage quotes and comparing mortgage rates from top national lenders.
Sometimes the best way to get more business is to simply ask for it. I want to be your Realtor. I want to help you purchase your new home. Specifically, I’d like to document your home buying experience here on the blog from the first point of contact through the closing. A Real World-Columbus for home buyers. While it won’t make you rich, famous, or even generate much space for your Wikipedia entry, it could be fun.
It may have been done somewhere else before but if so, I haven’t run across it. What could be more informational to home buyers than watching other home buyers go through the process from start to finish? We’ll keep the cameras rolling, make some podcasts, videos, and see what develops. You’ll have editorial control but you can’t be camera shy.
If you’re going to buy a home in the Columbus area in the next 6 months anyway, why not try it and create a global precedent? I’m probably looking for a first time home buyer(s), more of a blank sl
