1st time buyers: 10 STEPS TOWARDS MAKING THE BEST TRANSACTION 6-10..PART 2
- 09/21/08 10:49 PM
STEP 6 MAKING AN OFFER PRIOR TO PRESENTING AN OFFER ASK YOUR REALTOR FOR COMPARABLE SALES IN THE NEIGHBORHOOD. REQUEST SIMILAR STLYE HOUSES,WITH SIMILAR SQUARE FOOTAGE AND THE CLOSED SALES WITHIN A HALF MILE RADIUS FOR THE PAST 6 MONTHS.THOSE NUMBERS WILL GIVE YOU A MEASURE OF WHAT THE HOUSE IS WORTH. ADD A FEW DOLLARS FOR HOMES THAT ARE IN EXCELLENT CONDITION. TAKE AWAY A FEW DOLLARS FOR HOMES THAT REQUIRE SOME WORK. STAYING ON TOP OF THE MARKET WILL ENABLE YOU TO PRESENT A FAIR OFFER. STEP 7 LEAVE ROOM FOR A COUNTER OFFER. MOST SELLERS WILL LIST THEIR … (0 comments)
1st time buyers: 10 STEPS TOWARDS MAKING THE BEST TRANSACTION ON A HOME...TODAY 1-5
- 09/20/08 12:26 AM
OFTEN HAVE WE HEARD THAT WHEN IT COMES TO REAL ESTATE TIMING IS EVERYTHING . IF YOU PLAN ON PURCHASING A HOME THIS YEAR THEN YOUR TIMING IS PERFECT. FOR MOST AREAS,IT'S A "BUYERS MARKET".THAT MEANS THERE IS AN ABUNDANCE OF HOMES AVAILABLE ,THE MARKET HAS STABILIZED AND MOTIVATED SELLERS IN TODAYS MARKETPLACE ARE MORE APT TO MAKING CONCESSIONS,GIVING YOU THE PURCHASER MANY OPTIONS. READ TODAYS STEPS 1-5 AND BE ON YOUR WAY TO A BETTER AND SMOOTHER TRANSACTION. STEP 1 GET PREAPPROVED NOT JUST PREQUALIFIED THIS WILL GIVE YOU PEACE OF MIND TO SHOP WITH CONFIDENCE.DETERMINING YOUR DOLLAR LIMIT AND DECIDING … (0 comments)
1st time buyers: Economic stimulus package and what it means to you the buyer
- 02/17/08 03:22 AM
Now that the president has signed the stimulus package,FHA reform is right around the corner.What does it all mean?In a nut shell,when the FHA loan limits increase,it will enable many buyers that have had difficulty qualifying for a mortgage the ability to get back in the hunt. A FHA loan is not credit driven,so,if your credit is less than perfect fear not!If you have a low downpayment that's ok too! Fha loans can be aquired using less than 3% down and up to a 6% sellers concession is permitted.The loans are fixed 30 year and offer very competitive rates. Here's what you'll need to get … (0 comments)
1st time buyers: Putting your income tax money to good use..
- 02/08/08 10:21 PM
Now that the stimulus package has been approved and awaiting the presidents signature,FHA reform is right around the corner.With limits due to increase as part of the reform,I find this time in homebuying will be very exciting.Many homes that were above the FHA mortgage ceiling will now qualify,giving todays buyer a multitude of additional options.The beauty of the FHA is that it is not credit driven and the sellers have the ability to offer up to a 6% sellers concession.Last night on MSN,they asked Robert Kiosaki"Rich Dad Poor Dad"what he felt about todays real estate enviroment. He responded by saying that todays market … (1 comments)
1st time buyers: THE INSIDE SCOOP ON "HUD" HOMES
- 02/07/08 05:18 AM
With the Foreclosure rates soaring, "HUD" inventory is going to balloon. There will be many deals on the horizon. Hud homes offer the opportunity for buyers to bid on homes with built in equity. Hud Homes are generally purchased by the end user (person moving into the house). Although, investors are welcome on certain transactions. 1. THE BIDDING PROCESS:Unlike an auction which is open, the bids on hud houses are done blindly without knowledge of any other offers. Hud releases a due date and each buyer submits their offer. Hud then chooses the highest and best offer. Owner occupants have the first … (1 comments)
1st time buyers: Working in reverse has become the norm
- 02/02/08 05:22 AM
I remember the days when you took a customer out,showed a house,and the next step was to roll with the paperwork .(once they found a house that fit their needs.)Today I find myself having my customers sit w/ a lender first and get a pre-approval (not a pre-qual)awaiting appraisal prior to even scheduling appointments to preview homes.I have cut the time wasted working with buyers that are not qualified,saved attorney's time,and can be assured that my customer will be researching homes in their budget..How many possible transactions fail these days due to mortgage issues? Hopefully with FHA reform right around the … (0 comments)
HOW OFTEN HAVE WE HEARD THAT WHEN IT COMES TO REAL ESTATE TIMING IS EVERYTHING .
HOW OFTEN HAVE WE HEARD THAT TIMING IS EVEYTHING IN REAL ESTATE. IF YOU PLAN ON PURCHASING A HOME THIS YEAR THEN YOUR TIMING IS PERFECT. FOR MOST AREAS,IT'S A "BUYERS MARKET".THAT MEANS THERE IS AN ABUNDANCE OF HOUSES AVAILABLE AND PRICING HAS EITHER STABILIZED OR DROPPED.MOTIVATED SELLERS IN TODAYS MARKETPLACE ARE MORE APT TO MAKING CONCESSIONS.GIVING YOU THE PURCHASER MANY OPTIONS.THE SPRING AND SUMMER SEASON HISTORICALLY HAVE BEEN THE PRIME TIME IN HOME SALES.READ TODAYS STEPS 1-5 AND … (1 comments)
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