Diary of a Passionate REALTOR®

Note To Self: Thoughts become things... choose the good ones! ® © www.tut.com ®

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Thu, 24 May 2012 08:02:26 -0700

I subscribe to receive notes like these as a reminder to where my thoughts should be focused.

I thought my note today was worth sharing. I hope you like it too.

There are no accidents.

If it's appeared on your life radar, this is why: to teach you that dreams come true; to reveal that you have the power to fix what's broken and heal what hurts; to catapult you beyond seeing with just your physical senses; and to lift the veils that have kept you from seeing that you're already the person you dreamed you'd become.

And believe me, that was one heck of a dream

Thoughts become things... choose the good ones! ®
© www.tut.com ®

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

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Hud Home: 44560 West Venture Lane Maricopa, AZ

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Fri, 27 Apr 2012 15:52:07 -0700

Case Number: 023-288917

Bid Submission Deadline: 4/29/2012 11:59:59 PM CST

Spacious 5 bedroom, 3 bath, 3 car garage entertainment home. Enter into large formal living/dining area w/decorative paint, 18' tile, and iron staircase railing. Cook's dream kitchen with raised panel, 42', staggered oak cabinetry extended into eating area. Granite, 18' tile, double oven, flat cook top and a walk-in pantry with hidden storage. Upstairs master suite w/snail shower and private balcony. Entertainers dream-BBQ w/frig, sink, grill & music! Pre-wired surround sound for the backyard pebble tec pool w/water feature, spa and gas fire pit. RV gate/pad.

Property Information
	Address:	44560 West Venture Lane Maricopa, AZ 85239 Pinal County Subdivision: Cobblestone Farms
	Appraisal Date:	04/16/2012 As-Is Value: $200,000.00
	Bed/Bath:	5/3.00
	Total Rooms:	9
	Square Feet:	3657
	Year:	2005
	Property Design:	Other
	Parking:	Garage
	HOA Fees:	$88.00 Monthly Listing courtesy of: Prudential One Realty

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

Click Now To Search AZ Homes For Sale

Don't Keep Me A Secret!
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Take A Look Into Your Future

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Thu, 19 Apr 2012 09:20:47 -0700

Try thinking beyond your present dreams. Concentrate on those dreams you will have once they have already come true.

And when you can clearly picture that life and those dreams - imagine how confident you will walk and how proud you will feel. Why not start walking and feeling like that today?

Congratulations on your success!

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

Click Now To Search AZ Homes For Sale

Don't Keep Me A Secret!
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How Plastic Bottles Lighten Up The Darkness

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Fri, 13 Apr 2012 16:13:49 -0700

How amazing and creative is this? We take something so simple as windows and sunlight for granted. These every day items, for us, are a luxury in a third world country.

Watch how plastic bottles lighten up the darkness for a third world country. The light bulb really went off in someone for this idea.

This will make your heart happy!

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

Click Now To Search AZ Homes For Sale

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Celebrate Your Options

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Thu, 12 Apr 2012 06:57:47 -0700

Everything is optional and every option holds a promise. In every promise there's a plan for the "Best Of Your Life."

So, whatever you chose, or may yet choose, celebrate it. To the conga line, "HEY!"

"The greatest mmistake you can make in life is to be continually fearing you will make one." - Elbert Hubbard

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

Click Now To Search AZ Homes For Sale

Don't Keep Me A Secret!
Tell someone I connect consumers with Full-Time, reputable REALTORS® anywhere in the United States.

About Casa Grande, Arizona- Including links to Casa Grande Resources

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Sat, 28 Mar 2009 21:22:29 -0700

What makes Casa Grande, Arizona so desirable? At an elevation of about 1395 feet, Casa Grande is strategically located at the intersection of two major interstates, I-8 and I-10. It's just 45 minutes south of the Phoenix Airport and an hour north of Tucson. Casa Grande is a smaller community and housing is more affordable than the two bigger cities. However, the previously known as "bedroom community" is growing fast as you will see in some of the links below as you get to know Casa Grande, Arizona.

Active Adult Communities-(*Register you & your realtor*) Mission Royale, Palm Creek, Ironwood Village, Villa de Jardins, & nearby Robson Ranch.

Arizona Builders in Financial Trouble- List of Arizona developers & home builders with projects in foreclosure, recorded liens or general financial trouble.

Assisted Living Communities- Cypress Point Apartments, The Garnet and The Villas by Mary T.

Chamber of Commerce -Find out more about local businesses.

City Commercial Developments- What businesses are being built in the City of Casa Grande?

City Data- Search housing statistics, demographics, crime rates, weather, local government, taxes and more.

Crime Map- The Casa Grande Police Department Crime Map shows information on burglary and auto theft crimes.

Elementary Schools- This link is temporary until the district site is up and working again.

Flood Risk Profile- Determine if the home is a flood risk and find an insurance agent servicing the area.

Golfing- Including tee time specials.

High Schools- List of High Schools that service Casa Grande.

Local Newspapers- Choose which newspaper publication to view.

Promenade Mall- Location and list of services.

Senior Center- Adult center classes, clubs and more.

U.S. Census Bureau for Casa Grande- Social, economic and housing characteristics.

Weather- Local weather conditions

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

Click Now To Search AZ Homes For Sale

Don't Keep Me A Secret!
Tell someone I connect consumers with Full-Time, reputable REALTORS® anywhere in the United States.

What Type of Realtor do You Want Representing You to Buy a Home?

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Fri, 16 Jan 2009 16:02:31 -0800

What's a Buyer's Agent? When an agent works with you to buy a home, that agent is acting as a buyer's agent. Do you know if this agent was just working with a seller as a seller's agent prior to switching hats and meeting with you as a buyer's agent? Do you know if your realtor is someone who understands the problems, has the solutions and spends 100% of their time working with buyers, or if they're a jack of all trades trying to work with buyers, sellers, and everything else in between?

Why is a team beneficial? Getting an agent who has a team means you have more eyes looking out for you, more people available for you, and communication on a regular basis. Each team member applies their specific strengths and experience to provide you superior service and results than you could ever expect from a single agent or simple partnership.

Who's interviewing who? Realtors have the luxury of choosing how they do business and who they do business with. As a buyer, you have the same luxury. When interviewing realtors, do you feel as if you are being interviewed as well. Only agents that know what they are doing will interview you to determine what stage of the process you're in and where to guide you from there. Your realtor is there to give you the facts and figures necessary for you to make a wise decision. Your first meeting with your realtor should be a mutual interview so you both feel comfortable and decide together on how you're going to continue the process.

Who's in charge? You will be making all the decisions. If you're able to articulate your wants and needs your agent will be able to make the most of your time. Don't be surprised if you find the home you want to buy within the first few homes you view. If you're walking through a house you like and your agent doesn't ask you if you'd like to buy it, ask yourself. You may surprise yourself with an answer. That question seems to make you aware of how interested you really are.

It's almost like building a home. If you had one individual who had to come in, clear the ground, put in the foundation, do the framework, electrical, plumbing, finish carpentry, and paint- it would take forever and there would be too much room for error. In real estate, if one individual had to return calls, arrange advertising, go on listing appointments, show buyer's homes, coordinate inspections and closings, there's just too much to get done in such little time. Now does it make sense to choose an agent that specializes working with buyers and has the staff and systems to provide proficient service necessary for such a life changing investment?

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

Click Now To Search AZ Homes For Sale

Don't Keep Me A Secret!
Tell someone I connect consumers with Full-Time, reputable REALTORS® anywhere in the United States.

Mortgage Meltdown, Could This Be Good...For Who?

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Tue, 06 Jan 2009 14:19:22 -0800

What's in it for me? This is a question we all ask ourselves. Anyone who owns a home or thinking about purchasing a home in this market is asking themselves what this market means to them. Here's some perspective for you in the questions below. Each question get harder as we go. Please watch 60 Minutes' Mortgage Crisis Video then continue to read and share your thoughts.

What's in it for Buyers? Although you may never buy at the very bottom, you can buy right and do well over time. There's an opportunity in every market and this one goes to the buyers. We have been in a buyer's market and will continue to be in a buyers market according to the chart in the video. Nobody can perectly time the market. We know what market we're in when we're in it. Buying at any point in a buyer's market is better than missing the chance on the curve back into a seller's market. More often than not, when you ask yourself, "Have prices dropped enough for me to make a sensible purchase?", you're already in the safe zone where the answer is yes. Not everyone can qualify for a loan right now and as the banks take on more foreclosures, do you think they will be tightening their lending standards making it harder to qualify for a loan? Although you aren't going to know how quick the curve to a seller's market will be, it is a buyers market now. Interest rates are low and lenders have more sensible loans to offer now. Are you willing to risk waiting to see what the future holds?

What's in it for sellers? Unfortunately, some sellers were taken advantage of when they were buyers in a seller's market where mortgages were easy to qualify for and handed out sporadically. Many could qualify for more than one home whereas, those same people would not have qualified for as much under the current lending standards. Fortunately, the overabundance of homeowner's foreclosing on those loans are being offered help. There are many options for homeowners in fear of defaulting on their loan(s) or worse yet, losing their home. Of course, consulting with your lender(s) is the first step. You may even want to check with a loan negotiater to help you. Be aware that these types of "professionals" are coming out of the woodworks due to the demand for them. Be sure to do some research first. With any luck, you'll be on your way to modifying your loan so you can keep your home. If you find yourself in need of selling your home short of what you owe on your mortgage(s), consult a realtor with a designation as a (CDPE) Certified Distressed Property Expert. Do not try to buy another home and walk away from your current property. That is called a "buy and bail" and you may be pursued for committing fraud.

What's in it for the mortgage companies? The mortgage companies contributed to this mess by offering such unrealistic loans to begin with. Loan officers are not required to be licensed in many states. I never understood this in a business where consumers hand over their personal information such as their social security number. Realtors don't take such information and we're required to be licensed as we should be. I personally think this is the mortgage companies' opportunity to take a good look at how they contributed to this crisis and make some changes to how their business is operated. The strong are going to survive in this market, thus, gaining such the reputation. This is their chance to make things right.

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

Click Now To Search AZ Homes For Sale

Don't Keep Me A Secret!
Tell someone I connect consumers with Full-Time, reputable REALTORS® anywhere in the United States.

Household "To Do's" in Arizona

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Tue, 09 Dec 2008 14:49:15 -0800

An Ounce of Maintenance is Worth A Pound of Repairs

When was the last time you gave your house a check-up?

Cars need to be serviced every five thousand kilometers or so, but your home doesn't exactly have an odometer. That's why it's important to put it on a regular inspection and maintenance routine. By tackling this seasonal and monthly outline of specific tasks, you can keep your household running safely and efficiently all year long.

Spring / Summer

Exterior:

Trim trees and plants away from your home, including the roof
Clean and remove debris from gutters and downspouts
Examine and repair caulking of the windows, stucco, and trim
Examine paint on siding, trim, and doors (paint is essential for protection)
Clean shade screens
Examine roof for loose, cracked, or missing shingles/tiles
Get your water tested by a pool company at the beginning of the season
Have septic tank pumped
Inspect sprinkler system operation and adjust timing as needed

Interior:

Examine and repair caulking at the windows for weatherization and insect control
Close the chimney damper to improve air conditioning efficiency
Clean and wax or oil cabinets to protect the finish
Examine weather stripping on exterior doors and windows to reduce energy costs
Clean fireplace/chiminey
Examine bath tile grouting to prevent moisture damage
Lubricate and adjust locks, hinges and latches
Examine window locks for proper operation
Lubricate garage door roller shafts, wipe down tracks with dry cloth and tighten bolts
Examine cabinets, drawers, and hinges for proper alignment
Clean dryer vent duct and damper to remove any lint buildup or obstructions
Have your a/c or heat pump, and/or evaporative cooler cleaned and serviced by a qualified technician

Fall / Winter

Exterior:

Clean and remove debris from gutters
Adjust sprinkeler system operation and timing as needed.
Reseed the lawn for winter grass
Rinse off A/C compressor/condesing unit coil
Drain and clean evaporitive cooler
Drain hot water heater
Check Auto Garage door sensors for safety adjustments needed
Consider covering your pool when not in use

Interior:
Turn on your furnace to make sure it is in proper working order
Inspect and repair caulking in sinks, tubs, showers, thresholds, walls, windows and all interior areas
Check the fireplace and open the damper of the chimney before first use
Clean and wax all kitchen and bath cabinets and paneling
Call your electric company to do an energy audit
Check hoses on washer, refrigerator, and dishwasher for deterioration

Monthly List of "To Do's"

Test your smoke detector by pressing the button to be sure it beeps or rings loudly. Replace batteries as needed.
Change your heat pump and or a/c unit filters
Check the salt level in your water softener
Drain the holding tank for your R/O system and it to refill
Treat home for insects as needed. This will also help mitigate scorpions
Have a professional test your pool water

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

Click Now To Search AZ Homes For Sale

Don't Keep Me A Secret!
Tell someone I connect consumers with Full-Time, reputable REALTORS® anywhere in the United States.

Real Estate New Year's Resolution

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Tue, 09 Dec 2008 13:22:10 -0800

As we come upon the New Year our thoughts are filled with ways to improve our lives.

My resolution for this year is to provide my clients with even better service. I take pride in knowing that my clients have benefited from the energy that I have devoted to meeting their needs and I plan to work even harder this year. The opportunities that I've had in working with referred clients have provided me with my most enjoyable and rewarding experiences. Now, you're wondering what you have to do with my resolution.

Have you ever heard of your Reticular Activator?

Did you even know you had one? It's part of your brain that heightens your awareness of certain things. For example, do you remember the time when you last bought a new car? All of a sudden, you start seeing cars just like yours all over the road. Pregnant women notice other pregnant women everywhere. And so on...

So when you get into conversations with people who are thinking about buying or selling real estate, your reticular activator should turn on and make you remember your experience with me. When this occurs, please pass my name on. I'd love to help someone who'd appreciate the kind of service I offer. So, as these people come to mind, please pass on my name or just give me a call with their name and number. I'll be happy to follow up and tend to their needs.

My business depends on people...the people I work with, the people I meet every day, past clients, friends...some of the most wonderful people in the world. I depend on you to spread the word and refer me to others. It's people like you who have helped me to help others. If you know anyone who is thinking of buying or selling a home, or has any other real estate needs, please tell them to give me a call.

I work hard for my clients because they deserve it! Thank you for your support. Best wishes for the New Year.

If your New Year resolutions have anything to do with real estate, please call me!

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

Click Now To Search AZ Homes For Sale

Don't Keep Me A Secret!
Tell someone I connect consumers with Full-Time, reputable REALTORS® anywhere in the United States.

Facing Foreclosure

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Wed, 26 Nov 2008 15:29:28 -0800

Owner's Facing Foreclosure

For some homeowners, foreclosure may seem the easiest or even, only option. Interest-rate increases have driven monthly payments too high and properties cannot be sold for enough to pay off the loan, causing homeowners to feel so overwhelmed and helpless that many just walk away and let the lender have the property. Sadly, many Americans could escape foreclosure if they'd just talk to their lender.

So, what are some things you can do if you're facing foreclosure?

•· Contact your mortgage lender and let them know about your hardship. Explain that you are willing but unable to make your payments. Ask if a deferment or forbearance is an option they'd be willing to entertain? Do you need to sell your home? Find out if your lender will approve a short sale as an option.

•· Hundreds of dollars a month can be saved with tighter budgeting. Look for any way to cut expenses such as; Cut out entertainment, eating meals out, cable TV, reduce gas costs by planning errands more efficiently. As the weather gets colder, turn the thermostat down and wear a sweater.

•· Is their any way you can create income? Have a garage sale or sell items on Ebay.com, Amazon.com, or Craig's List.

Many of these steps may be painful now, but these short-term pains only last until conditions turn around - better than the long-term pain from losing a home, in which ruins your credit rating and possibly your job prospects.

Keep in mind; it is more work and expense for a lender to take your home. Lenders aren't in the business of owning homes. Foreclosure is an expensive, difficult process for the lender. When home prices are falling there's no guarantee the lender will sell the property for what they need to make up for the difference on the loan and the loss of time and money by going through the foreclosure process. Lenders are looking at short sales as a possible resolution.

My blog about "Buying a Short Sale" gives some insight about a buyer's perspective on short sales if you're interested. Keep in mind that there is hope for short sales now that a new light has been shed on them. My office has more extensive information on short sales through our website at www.YostHomes.com including a foreclosure/short sale comparison chart that shows the differences on how each impacts your credit in the future. This is definitely worth viewing if you are unable to continue making your payments. We have a frequently asked questions section. Follow this link for more information as well. Short Sale FAQ's

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

Click Now To Search AZ Homes For Sale

Don't Keep Me A Secret!
Tell someone I connect consumers with Full-Time, reputable REALTORS® anywhere in the United States.

Blog Submittal

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Wed, 19 Nov 2008 20:23:59 -0800

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Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

Click Now To Search AZ Homes For Sale

Don't Keep Me A Secret!
Tell someone I connect consumers with Full-Time, reputable REALTORS® anywhere in the United States.

Making an Offer to Buy an Arizona Home

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Sun, 16 Nov 2008 19:00:06 -0800

Have you been able to help the buyer's team of you, your lender, and your realtor understand your situation prior to finding the home? If so, you will have saved yourself time and given your team confidence in knowing they aren't missing anything from you that may cause delays or even forfeiture of the loan, the home, and/or your earnest money. Being prepared is a crucial advantage!

Entering into negotiations with an offer may result in an accepted contract so be sure this is the home you want to buy. Your offer is your first step in negotiating a sales contract with the Seller. How does the home compare to other properties you may have seen in the neighborhood? All you have to do is put the home in one of three categories - average, above average, or below average. Always put yourself in the Seller's shoes and imagine his or her reaction to everything you include. Your goal is to get what you want and imagining the Seller's reactions will help you to attain that goal.

In an offer to purchase real estate, you include not only the price you are willing to pay, but other terms as well. This includes how you intend to finance the home, your down payment, who pays what closing costs, what inspections will be performed, timelines, whether personal property will be included in the purchase, terms of cancellation and how to settle disputes, should they occur. Your loan may limit you to what you can ask the seller to contribute as well. This is just a short example of what could be included in an offer.

Buying a home is a major event for a Buyer. It will affect your finances more than any other purchase or investment in your lifetime. The Seller makes plans based on your offer that will affect their finances too. However, it is more important than just money. In the amount of time it takes to write an offer, you are making decisions that will affect how you live for years or even a lifetime.

This sounds dramatic...sounds like a cliché' but, Real estate professionals all say it because it's true... Shop lenders and choose one before you make an offer. Know your loan limitations before you make an offer. It's all about your financials and your lifestyle! Be comfortable before you start shopping for your home. Being prepared is a crucial advantage!

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

Click Now To Search AZ Homes For Sale

Don't Keep Me A Secret!
Tell someone I connect consumers with Full-Time, reputable REALTORS® anywhere in the United States.

Do Not Do if You're Buying a Home

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Sun, 16 Nov 2008 15:13:54 -0800

Don't Move Money Around

When a lender reviews your loan package for approval, one of the things they are concerned about is the source of which you'll be getting funds for your down payment and closing costs. It's most common to be asked to provide statements for the last 2 or 3 months on any of your liquid assets. This includes checking accounts, savings accounts, money market accounts, certificates of deposit, stocks, mutual funds, your company 401K and any retirement accounts.

If you have been moving money between accounts, there may be large deposits and withdrawals in them. Consult your loan officer if you feel the need to move money around.

The mortgage underwriter (the person who actually approves your loan) will probably require a complete paper trail of all financial transactions. You may be required to produce canceled checks, deposit receipts, and other seemingly tedious data. You may very well become exasperated at your lender, but they are only doing their job correctly. To ensure quality control and eliminate potential fraud, it is a requirement on most loans to completely document the source of all funds. Moving your money around, even if you are consolidating your funds to make it "easier", could make it more difficult for the lender to properly document.

So, it is best to leave your money where it is until you consult your loan officer.

The Effect of Changing Jobs

Changing employers may not really affect the ability to qualify for a mortgage loan, especially if you'll be earning more money. However, the effects of changing jobs can be damaging to some loan applicants. Before you make any move, it is always best to consult your loan officer first.

Salaried Employees

If you are a salaried employee who does not earn additional income from commissions, bonuses or overtime, switching employers should not create a problem. Just make sure to remain in the same line of work. Hopefully, you will be earning a higher salary, which will help you better qualify for a mortgage. Consult with your loan officer.

Hourly Employees

If your income is based on hourly wages and you work a straight forty hours a week without overtime, changing jobs should not create a problem. Consult with your loan officer.

Commissioned Employees

If a substantial portion of your income is derived from commissions, you should NOT change jobs before you buy a home. This has to do with how mortgage lenders calculate your income. They average your commissions over the last two years.

Changing employers creates an uncertainty about your future earnings from commissions. There is no track record from which to produce an average. Even if your are selling the same type of product with essentially the same commission structure, the underwriter cannot be certain that past earnings will accurately reflect future earnings.

Changing jobs would negatively impact your ability to qualify for a mortgage. Consult with your loan officer.

Bonuses

If a substantial portion of your income on the new job will come from bonuses, you may want to consider delaying an employment change. Mortgage lenders will rarely consider future bonuses as income unless you have been on the same job for two years and have a track record of receiving those bonuses. Then they will average your bonuses over the last two years in calculating your income.

Changing employers means that you do not have the two year track record necessary to count bonuses as income. Consult with your loan officer.

Part Time Employees

If you earn an hourly income but rarely work forty hours per week, you should NOT change jobs. There would be no way to determine how many hours you will work each week on your new job, so no way to accurately calculate your income. If you remain on the old job, the lender can just average your earnings. Consult with your loan officer.

Overtime

Since all employers award overtime hours differently, your overtime hours cannot be determined if you change jobs. If you stay on your present job, your lender will give you credit for overtime income. They will determine your overtime earnings over the last two years, then calculate a monthly average. Consult with your loan officer.

Self Employment

If you are considering a change to self-employment before buying a home, don't do it! Buy the home first!

Lenders like to see a two year track record of self-employment income when approving a loan. Plus, self-employed individuals tend to include a lot of expenses on the Schedule C of their tax returns, especially in the early years of self-employment. While this minimizes your tax obligation to the IRS, it also minimizes your income to qualify for a mortgage loan.

If you are considering changing your business from a sole proprietorship to a partnership or corporation, you should also delay that move until your home purchase is final. Consult with your loan officer.

No Major Purchases of Any Kind

This includes furniture, appliances, electronic equipment, jewelry, vacations, expensive weddings...etc. and, of course, automobiles. Consult with your loan officer before you make any purchases other than every day necessities.

When an individual's income starts growing and they manage to set aside some savings, they commonly experience what may be considered an innate instinct of modern civilization...the desire to spend money!

Since North Americans have a special love affair with the automobile, this becomes a high priority item on the shopping list. Later, other things will be added and one of those is likely to be a house. However,by the time home ownership has become more than a distant and hopeful dream, you may have already bought the car. It happens all the time...sometimes, just before you contact a lender to get pre-approved for a mortgage. As part of the interview, you may tell the loan officer your price target. He will ask you about your income, your savings, and your debts, then give you his objective opinion. "If only you didn't have this car payment, you would certainly qualify for a home loan to buy the house you want." Don't assume anything. If you haven't bought the car yet, think ahead. Think about buying a home first and then the car. Which would be more important to your financial well being? Consult with your loan officer first.

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

Click Now To Search AZ Homes For Sale

Don't Keep Me A Secret!
Tell someone I connect consumers with Full-Time, reputable REALTORS® anywhere in the United States.

Time the Housing Market?

Jennifer Srock GRI (Keller Williams Legacy One Realty) — Sun, 16 Nov 2008 15:09:51 -0800

Should I Try to "Time the Housing Market"?

When supply of available houses for sale is much greater than the supply of Buyers willing to buy them, appreciation may hesitate and prices may even drop. This is what happened in the early eighties to mid nineties and through 2008; which started as early as 2006 after a major surge of appreciation in 2005 when there was more buyers than sellers.

“People think they know more than they really do,” says Jason Zweig, a personal finance columnist at The Wall Street Journal and the author of Your Money & Your Brain (Simon & Schuster, 2007), a critically acclaimed examination of how neuroscience, psychology, an economics affect financial decisions. There are times when a vigorous economy builds consumer confidence about his or her ability to time the market for their expectations of the future. As a result, people eat out more, buy new clothes, vacations, cars and new homes. Then for one reason or another, the economy slows down. Companies lay off employees and consumers become more wary about where they spend their money. People tend to save more money; causing a drop in money being circulated. As a result, the economy slows down even further. If it slows enough, we have a recession.

In a recession, fewer people buy homes. Even so, some homeowners find themselves in a situation where they MUST sell...and this time can be great for buyers! Some of the best deals can be had as long as they can overcome their apprehension of the recession. This what some consider the best time to invest in real estate.

One problem with attempting to time your purchase to the business cycle is that no one can accurately predict the future of the economy. Another challenge is that interest rates are generally higher and lender requirements more meticulous during a depressed market and income may not be keeping up. For that reason, fewer people can qualify for a home purchase than in more prosperous times. If you're thinking the odds of getting a better price might be a little bit stronger if you wait to buy, that may be true but if the rate goes up a quarter of a point you might be giving that back anyway. Using rates as a justification to buy only makes sense if you believe that rates will climb and prices will not fall.

People who already have a home usually need to sell it in order to buy their next one. If a Seller wants to sell their home to take advantage of a "seller's" market when prices are fairly high, they generally have to buy their next home during that same time, therefore buying at a higher price as well. Sounds confusing but the point is that if you're counting on selling and buying in the same market, you just might have to take a loss or smaller return on one end to make it up with bigger numbers on the other.

Finally, the business cycle can (and will) change over time. Expansions and recessions in the economy come and go. Waiting to see what happens next could cause you to miss out on a substantial amount of appreciation and end up paying much more for the same house. Looking at what you could have and should have done a few years ago is not going to help either.

Remember...real estate cycles with the economy and history has shown that, over time, real estate will appreciate in value.

Jennifer Srock- REALTOR®, GRI
Keller Williams Legacy One Realty

2028 N. Trekell Rd. #102, Casa Grande, AZ 85122
Cell: 602.743.5100 Fax: 520-836-5602

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