With all of the scandals surrounding us today, it seems like everyone is repeating the age old adage "Buyer Beware". And while I do think there are a lot of untrustworthy things happening in the general consumer market today, I think "Buyer be Smart" is a better plan of action.

I deal with first time home buyers (FTHB) on a daily basis, and many of them have the same question; "How do I get these great deals that everyone is talking about?" It's quite simple, yet takes a little bit of work by the potential buyers. These few steps could save you thousands on your next home purchase. I've broken this down into a 4 part series so that I can properly explain each step, and will updating this blog every few days with the next step.

• Get Pre-approved by a credible lender: This is a very simple process. If you already work with a bank or credit union, make an appointment to meet with their loan officer. If you don't, contact a REALTOR and ask them for recommendations. I recommend that buyers meet with at LEAST 2 different lenders to compare rates, terms, etc. During this one hour appointment, ask the officer about their current programs. How much down payment will you need? Do you qualify for FTHB loans? How much are you pre-approved for? Get this pre-approval in writing. Now that you know your buying power, everyone involved with your real estate transaction (REALTORS, sellers, etc) will take you seriously as a buyer.