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10 Common Mistakes First-time Home Buyers Make

admin — Tue, 17 Jan 2012 00:00:00 +0000

First time homebuyers face many challenges and decisions when it comes to buying their first home; by following the list below, you can avoid the 10 most common and expensive mistakes.
1. Before you go looking for the perfect home, you’ll need a budget to find out what you’ll be able to afford.
2. Do a credit check and understand you credit score.
3. Contact your financial institution and get pre-approved for a home loan.
4. You need to understand the housing-market trends. Sometimes the market favors the seller, somethimes the buyer.
5. Consider the home’s resale value.
6. Don’t blindly follow your realtor’s advice. There are 3 types of realtors: sellers agent buyers agent dual agent Do some research to find an experienced agent that puts your needs first.
7. Don’t trust verbal agreements. Get everything in writing to eliminate the risk of the seller backing out.
8. Don’t forget the hidden costs in figuring you budget: appraisal fees credit report fees escrow fees notary fees homeowners insurance required by lender & property taxes
9. Don’t bypass the home inspection: what may look perfect on the outside, may have major problems structurally.
10. Don’t fall in love with a house (till after all the papers are signed!).

Selecting the Right Real Estate Agent for You

admin — Tue, 03 Jan 2012 00:00:00 +0000

Purchasing a new home is very exciting yet a tedious process which is why selecting the right real estate agent for you is important. Having the right real estate agent can help the process of buying a home stress free while giving you peace of mind that you have made the right choice. Real estate agents can help you look at properties in your price range, space preferences, and within a specified mile radius near your current home. Once you have found the right home, your real estate agent can place be bids on your behalf as well as filling out the necessary paper work to complete your sale. Usually your real estate agent will receive a percentage of your sale after it has been made which is to your benefit because you don’t have to pay out of pocket in advance for their services. Real estate agents can also help you find short sales and foreclosed properties below market value which can save you hundreds if not thousands of dollars. Real estate agent’s main priority is to satisfy their client. No matter how long it takes they will remain committed to helping you find the perfect home for you and your loved ones.

Looking for Homes in the City

admin — Mon, 19 Dec 2011 00:00:00 +0000

When you are seeking a home in the city one thing that will come into play is if you are a family or just a single person. For families looking for housing in the city you may have to find somewhere that will be child friendly. If you are a newlywed couple that is planning to have children one day, you may want to move somewhere that will be practical for raising family. When looking for a home in the city you also want to check out the schools in the area.

If you are a single person who is looking to relocate because of work, you may want to find a home that is close to your job so you can have an easier commute. Another thing to keep in mind when you are looking for a home in the city is finding out what the crime rate in the area is. Ask you real-estate agent about the area or feel free to get a report from the local police department about the area. Looking for homes in the city does not have to be very difficult, all you have to do is your research and you will be able to find the house of your dreams.

House Hunting: Don’t Forget to Check…

admin — Wed, 09 Nov 2011 00:00:00 +0000

You’ve spent tons of time looking for a new home and you’ve already researched your area. It’s got good schools, Reliant Energy Texas is the energy provider and you’ve even identified specific streets you like best. But what are some commonly overlooked house buying tips? We’ve laid them out for you
Think about parking: If you’re a two-car (or more) family, you’re going to want to consider where everyone is going to park. Many neighborhoods have restrictions for street parking and your driveway is likely too small to run a valet.
Consider the sun: Once you’ve found a house you like you’ll want to visit it several times, each at a different time of day. Does it get enough sun to grow the garden you want and when it’s dark is the street shadier than you thought? All things to consider.
Look into the neighbors: It’s a good idea to stroll the neighborhood before you buy to see if there are lots of kids, loud dogs, or traffic you didn’t expect. All these things can impact how much your home fits you.

Looking for Homes in the Country

admin — Wed, 27 Jul 2011 00:00:00 +0000

After years of the hustle and bustle of the city life, many retirees find themselves ready for a change.The stress of dealing with the traffic and all the noise of the city make many people consider looking for a home in the country to enjoy the quiet life for a while.The country life can be an escape from all of that . If you’re ready to “slow down,” but not quite ready for the rocking chair, a small farm might be exactly what you want. You might want to find a small ranch or farm that offers a variety of things to keep you busy. There is nothing more peaceful than a quiet night in the country. While you are sitting under the stars listening to the sounds of nature, you might find it hard to remember all the days of rushing to and from work while fighting the crowds. The sounds of birds and wildlife replace the noise car horns and airplanes.You can wake to the sounds of the birds singing and the smell of the fresh country air. Instead of getting on the freeway in a rush, grab a fishing pole and spend the morning on the peaceful creek bank.

5 Tips to Make Your Offer Stand Out

admin — Sat, 23 Jul 2011 00:00:00 +0000

1.Offer an admirable price. Price is one of the highest priorities of an offer and this si the number one key to having your offer stand above the rest. Also note that a cash offer, regardless of price, can also make your offer stand out above others.
2.Have proper financing. It is not enough to be prequalified, you need to be preapproved. You would be surprised at how many offers pour in with no financing lined up. Having proper financing can make all the difference.
3.If you meet the following two points, one of the bset things you can do to make your offer stand out is to make a good faith deposit. This is a larger-than-customary amount of “earnest money,” or a deposit that accompanies an offer.
4.Minimize your contingencies. Come in with the least amount of contingencies possible. When a seller sees a large amount of contingencies, it can mean a headache. This is why a low amount of contingencies makes an offer stand out!
5.Be personable. Many people focus mainly on the paperwork when submitting an offer. However, if the seller likes you as a person, they are sure to give even a slight amount of preferential treatment to you which can give your offer the edge it needs.What’s 1 more click? Your boss isn’t watching… Joyce’s Voice…Understanding the basics of: Writing an Offer to Purchase Real Estate

5 Tips for Getting Owner Financing

admin — Fri, 22 Jul 2011 00:00:00 +0000

Owner financing is when a person finances the purchase of a house through the person that is selling it. Here are some great tips for getting owner financing. The first tip is to review the buyer’s credit. This is a great way to see how a person paid their bills how the bills will get paid in the future. You can just ask for a copy of the credit report. The second tip is to get a down payment. By getting the down payment, it is highly unlikely that the buyers will stop making their payments because of the money that is invested already.Additional information can be found at http://tirenajones.com/2011/07/12/successful-cash-flow-control/.

The third tip is to set the terms. All of these terms will include interest rate, payment amount, frequency, and the due date for payment in full. There are also late fees, default clauses, and requirements for insurance. The fourth tip is to get help with the documents. This means to get all of the terms of the financing in writing. The best thing to do is to get a qualified lawyer to represent you. The fifth tip is to collect all of your payments. This means tracking the payments, interest, and balance with any taxes or insurance.

Best Ways to Find Owner-Financed Properties

admin — Tue, 19 Jul 2011 00:00:00 +0000

With so much strain on the economy these days, it almost impossible to find a bargain when it comes not only to the small things needed in life, but to the larger, long-term necessities also. The real-estate world is certainly no exception. Still, there are those who prefer to own their own home, yet they are looking for the convenience that goes along with living in say something like a townhouse, or condominium. The internet offers a wide variety of Rent-to-Own duplexes and condos and the number of sites that join up to pitch their offers grows every day. Just be careful with what you’re looking up.

Many companies may claim they can give you everything under the sun, but that isn’t always the case. For starters, there are some sites claiming they can grant you a rent-to-own program that requires neither a down payment nor any credit checks. It is good to ask questions while considering your options. Don’t fall for lines that sound too good to be true. Other resources for finding owner-financed properties could be through your local real-estate agents. These people should have plenty of information to show you that will enable you to make a sound decision without being short-shifted by anyone.