As with many things - just asking the question - is a good first step.

1) Contact a mortgage professional in the town you wish to purchase in.  

The reason I have this as the first step is that a mortgage professional can pull your credit and advise you on where you are at and how to get where you want to go.   I adivise either sticking to a major bank lender like Wachovia, Wells Fargo, or GMAC in your local area because it will keep you away from the scam artists.  There are mortgage brokers not with the major banks who are awesome but there are some real scam artists who will take you for a ride.  

2) Keep credit balances on revolving lines like credit cards as low as possible. 

Credit scores are higher when you use a low percentage of your available credit.  So, if possible keep credit card and other revolving credit lines below 30% of available credit.   In other words if your credit card has a credit line of $5000 - keep the revolving balance below $1500.   This gives you plenty of room for emergencies and keeps your credit score high.

3) If you want to buy a house - don't go buy all new vehicles. 

Debt to income ratios are very important for determining what kind of home you will qualify for.   2 new vehicles with $500+ per month payments on each will take a chunk out of your income leaving less to use for a home.    Make your new home a priority and buy a home - then determine if you have enough available to purchase a vehicle.  Sometimes it is smart to save up or just have one nice car and one that will just "get you by". 

4) Pay on time! 

This seems like common sense but it is important that you pay attention to your bills and get them in on time.  Nuff said about that.  :)

5) Correct any mistakes on your credit report.

When your mortgage professional pulls your credit report - look for mistakes - and enlist their help in correcting any mistakes. 

6) Find a Good REALTOR

Now that you have your credit ready to go - call me and we will find you a home that your family will enjoy!

Your first home purchase can seem like an overwhelming task but it is really not that hard.  Here we go. 

Step 1 - Research professional Realtors in the area you would like to find a home.  That is a pretty easy task now with the internet.  Just Google your City, State, Real Estate and then begin to check out their websites.  You will want to look for several items on the website:

a) A good Realtor website will have an excellent search engine capabilities for you to search all the homes listed on the MLS - not just that Realtors' listings.  It should have mapping and ease of use! 

b) Info about the agent - not just that he or she is a nice person and the "best" agent - but info about  their accomplishments, education, and experience.  Even time as a Realtor can be a poor indicator as their spouse may bring home the paycheck and they only work "part time".   You want a Realtor who is full time, does lots of closings every year, and has the education and experience to protect your interests.  

Step 2 - Let your Realtor help you select a local Mortgage professional who can help you get pre-qualified for a loan.  

a) I said local Mortgage professional for a reason.  You want someone local for several reasons but most importantly  because you and your Realtor will be able to hold their feet to the fire.  It is hard to hold someone off in cyber space accountable.   Someone who never has to see you or the Realtor again is much more likely to over promise and under deliver.   In addition the local lender will know all the parties to the transaction like the attorney, appraiser, and processors.   They are much more likely to be able to call up the appraiser and say hey "Bob" could you go ahead and get the appraisal done for us because we are in a time crunch.  

b) Use a major bank Mortgage department for your loan rather than a loan broker.   A broker is really just a middle man.   At one time a broker could sometimes find a "special" loan product to fit you but not anymore.   Everyone basically has the same loan products so I recommend going with a major player like Wachovia, Wells Fargo, GMAC, or Suntrust in our area as they have the resources to close your loan fast and on time.  You will be dealing with the people making the loan and not a middle man.   Ask your Realtor who to use - they should know who can close a loan smoothly.   

Step 3 - Go find a house!    Use your Realtors home search website to find homes you might like and show these to your Realtor.  This will help him/her understand the type of home you like but don't fall in love with these because they may look different when you get there.   Let your Realtor suggest other possibilities that they think may fit you as well.   It is a collaborative effort.   Keep an open mind!  Only so many homes will fit your criteria and price range - so once you establish which ones those are - it is simply a matter of choosing the one that fits you the best.  

Step 4 - When you find your home - make an offer!  Have your Realtor pull up area comparables and talk about negotiating strategies and what things are important to you like time frame, seller paid closing costs, home warranties, and other items that are important to you in the purchase.  

Step 5 - Contract to Close - If you have chosen a good Realtor and Mortgage team this portion should go smoothly.  Most of the horror stories you hear are because the client chose some fly by night mortgage broker who couldn't deliver what he promised.  Things to remember here are:

a) Go ahead and get the lender all the documentation they ask for as soon as possible.  They cannot submit your loan without all documentation.  

b) Cooperate with all inspections and other items in a timely manner.  Real Estate contracts are time sensitive.  

Step 6 - Close and move in your new home - Closing is simply a 1 hour process at the lawyers office where you sign all documents to take responsibility for paying your mortgage loan and the seller gives you good title to the house.  The lawyer is there to make sure everything is done in proper and legal manner so that everyones interests are protected and you receive clear title to the home.  

Congratulations!  You are new homeowner! 

   Most successful investors say to "buy - low and sell - high"!    This is always easier said than done but if you ask when would be the best time to buy real estate in our area - I think it would be when the following criteria is in place.  

1) Low interest rates

2) Plenty of inventory

3) Motivated Sellers

4) Off season.  

Wow!  I think those criteria are in place now.  :)  I really do think it is an excellent time to buy a home as interest rates have just fallen and we are at point where sellers are willing to make a deal.  I don't know exactly when this buyers market will turn but I know that it will turn and I think we will all look back and say 2007 was a great time to buy a home!  Use this link to search the homes in Columbus Ga and the surrounding area.   

Phenix City cleared a major hurdle for the Troy State University Business School to locate along the River in Phenix City.    The Office of Housing and Development approved the purchase of the Triangle property at the 700 and 800 blocks of Phenix City.   This is the land designated to be used for the new business school.   The new business school coupled with the construction of the Phenixian along the Riverfront will be a huge step in the revitalization of downtown Phenix City.   

Phenix City is working to revitalize much like Columbus on the other side of the river.   Columbus State University has moved their art and music schools downtown and rehabbed several downtown buildings in the process.   Coupled with the new streetscapes and the RiverCenter - downtown is becoming a great place to hang out, work and live!   

More good economic news for Columbus is that Cessna broke ground this week for a new manufacturing plant.   The 100,000 sq. ft. plant will be located on 40 acres of the technology park in east Columbus.   Officials said that the business climate in Columbus coupled with a willing and able work force helped them make the decision to locate here.   The Witchita based company started in Columbus in 1996 with 60 employees.  They now have about 600.  The new plant should be completed the later part of 2008.   Cessna Aircraft is the largest manufacturer of general aviation aircraft in the world.    This is more good news for a thriving Columbus Ga economy.   

General Patreaus is visiting Fort Benning this weekend.   Friday he honored the 555th Parachute Infantry Battalion.  They were African American Paratroopers in WW11.   Saturday he will be attending the Airborne graduation of his son Steven.   General Patreaus says that he will have the honor of pinning Steven's grandfathers jump wings on his son.   Steven is an ROTC student at MIT.  

From here the 4 Star General will be testifying before congress concerning future troop strength in Iraq. 

Recently a crain set into place a restored 23 ton Bradley Fighting Vehicle at the Fort Benning Infantry Museum.   The Bradley will be one of the focal points of the 170,000 sq. ft. Museum adjacent to Fort Benning GA.   This particular Bradley was used by the 4th Infantry Division in Iraqi Freedom.  

The new museum is set in a 200 acre park and will include an 3-D IMAX theatre, interactive displays, set in several sections designed to highlight variouse periods of our history and the contributions that the infantry has made in keeping our country free. 

    Fort Benning Ga is the largest employer in the Columbus Ga and Phenix City area.   I thought I would post a little about the impact Fort Benning is having and will have in the area.  

Fort Benning Payroll is approximately $88 million dollars per month or 1.1 Billiion dollars per year

33,000 Active Duty

7,000 Supported Reservists

9,000 Civilian Employees

7,000 Family Members on Post

15,000 Family Members off Post

43,000 Retired Military Personel

Additionally Fort Benning will soon have the Armor School in Addition to the Infantry.  The expected impact is as follows:

5500 more permanent Soldiers

5500 more civilian Jobs

8000 Spouses

14,000 Children

These numbers do not include the supporting businesses that may locate to the area.  It also does not include the impact of the construction on Fort Benning to support this increase nor the construction and jobs created in building schools, houses, and other infrastucture for the influx.  Do you think the Columbus Area could be a good place for Real Estate Investment over the next couple of years? 

    Our Georgia Bulldogs got off to great start by taking out Oklahoma St 35 -14.   The Dogs had to defeat one of Columbus Ga's own as running back Dontrell Savage is a star running back and was prominent in the game.  Even Dontrell was not enough to overcome the young Georgia team.   UGA looked really sharp and has a tremendous amount of talent.   The Sophomore quarterback Mathew Stafford is amazing combined with some strong receivers and a backfield full of star running backs.   The University of GA is going to be hard to handle this year and the next couple of years to come.     

   Columbus Ga had the winner of the Little League world series last year so we know how elated Warner Robins Ga is this year!   It is fun to be the best in the world at anything and I know those boys are still floating on cloud nine after there walk off home run against Japan.  

    We love baseball in this area if you cannot tell.   Phenix City won the national little league championship a few years ago!  Columbus and Phenix City have produced some great ball players including big Frank Thomas and Tim Hudson!