What to Know When Your Buying a Home in Metro Phoenix - Financing

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Real Estate Agent with HomeSmart International AZ Broker BR030809000
https://activerain.com/droplet/SRL

What to Know When Your Buying a Home in Metro Phoenix - Financing

House made of Money

 

There are a lot of key factors that are important in the process of purchasing a new home.  One that is often overlooked is the importance of having reliable financing before looking for your perfect home.  It is a common misconception that the financing comes after you find the home of your dreams - however, looking for financing after you find a potential new home can put you behind another buyer - leading to someone else out-bidding or out-financing you in the home of your dreams.  The Real Estate market is definitely a Seller's market right now - this means that there are more buyers than homes on the market to accommodate these buyers.  The Metro Phoenix area is known to have a bid in the same 24-hours that it was put on the market.  That being said, it is a good idea to have your "ducks in a row" so that you can get the jump on the home of your dreams.

 

The Key to Your New Home

 

Another benefit of having financing ready is that Seller's know that when you make an offer, you have the strength of a financial lending institution that gives the Buyer leverage again those people who do not know if they will even qualify for the home that they are interested in. Having a lender 'approval' is critical in our faced paced sellers market.  You will not have a chance of competing with other Phoenix home buyers in a multiple bid situation if you do not have your 'financial ducks in a row' upfront.  Before you even begin to look at homes your very first step in buying a home should be talking with a lender to know how much 'house you can afford'.  We work with several trusted lenders that will walk you through the qualifying process and take you all the way to the closing table. They are part  of our team that will help you to make buying a Phoenix home as seamless and stress-free as possible even in our hot sellers market.

Financing for Every Situation

 

Having an ally in the Real Estate market in the Valley of the Sun is the key to being successful in the buying or selling process.  Give Anna 'Banana' Kruchten a call -  her team of professionals can make the buying process a positive and seamless experience.  With Anna Banana's extensive knowledge of the Metro Phoenix and her strong background in the process will help you find the perfect home in the perfect area - and, with the perfect financing for the perfect situation.  

 

What to Know When Your Buying a Home in Metro Phoenix - Financing

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Anna “Banana” Kruchten

Broker, CRS, CRB

HomeSmart Real Estate

602-380-4886

Certified Residential Broker  CRB

Certified Residential Specilist CRS

AZ DRE Certified Real Estate Instuctor

 

 Your Referrals & Testimonials Are Greatly Appreciated!

 


 

 



 

 

   

 

 

                  

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Joey Fontenot 05/02/2013 08:06 AM
Topic:
Home Buying
Location:
Arizona Maricopa County Phoenix
Groups:
Active Rain Newbies
Realtors®
Certified Residential Specialists
Addicted to Active Rain
Bananatude
Tags:
financing a home
househunting
buying a home in phoenix

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Rainmaker
1,204,819
Tony & Darcy Cannon
Aubrey and Associates Realty - Layton, UT
The C Team

Anna, This is a great post, not only for Phoenix, but for many markets as well.  Here if you wait for anything, the house that you wanted has multiple offers on it.

Mar 30, 2013 02:42 AM #1
Ambassador
1,887,156
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Solid financing behind a buyer's offer Anna gives the seller confidence that there will be a smooth transaction. I have found some companies can give a prequalification letter and then three weeks from closing back out on their terms. it is scary to watch how some companies operate.

Mar 30, 2013 03:21 AM #2
Ambassador
1,241,979
Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

Financing from a lender with a solid reputation can be the deciding factor over two contracts. It is not always the amount of the contract that is the deciding factor!! Great post!

Mar 30, 2013 03:54 AM #3
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2,802,516
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Anna - Getting the financing put together up-front comes right after finding the right agent, and is critical when dealing with the difficult market conditions you've described. And I know you have some excellent lenders who can get the job done.

Mar 30, 2013 03:54 AM #4
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1,709,615
Dale Baker
Baker Energy Audits and Commercial Properties Inspections - Claremont, NH
New Hampshire Relocation Real Estate Information

Howdy and afternoon Anna Banana

Anna Bnana my friend, folks are going to find this to be a highly helpful and outstanding blog post on how important it is when to get the financing to buy a home!

Have a good one
Dale in New Hampshire

Mar 30, 2013 05:12 AM #5
Rainmaker
5,273,181
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Hi Anna.... all buyers should be totally prepared to buy the home of their dreams once they see it.... have that pre-approval letter ready and in hand!!  Happy Easter, Anna, to you and your family....

Mar 30, 2013 05:48 AM #6
Rainmaker
1,259,525
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Anna:  Wonderful and timely suggestions here!  For so many reasons, it's important to check on your finances prior to starting the home search.  And I always recommend that potential buyers do so well in advance of that point too.  First-timers at least 6 months to a year.  That way if there are errors ... or not enough credit history to base financing on, there is plenty of time to react, repair, and be prepared.  I so appreciate agents that promote this thinking, Anna ... thank you!

 

Featured in BananaTude!

 

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Congratulations!

 

Gene

Mar 30, 2013 06:01 AM #7
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3,984,754
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Anna, The buyers that are poised and ready are much more likely to be the winning bid. Some buyers have to lose a couple before they really understand what the agent is saying.

Mar 30, 2013 06:04 AM #8
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910,966
Kathy Schowe
California Lifestyle Realty - La Quinta, CA
La Quinta, California 760-333-8886

The most important thing when buying in the metro Phoenix area is calling Anna Banana Krutchen!!  Happy Easter!  Kathy

Mar 30, 2013 10:06 AM #9
Rainmaker
654,934
Bobbie Smith
Stroudsburg, PA
570-242-1891

Excellent points Anna. How else can you be sure you get the home of your dreams if you do not know if you can afford to make the purchase first? Hope more buyers take note of this info.  It amazes me how many buyers will still want to go look at homes without being pre-approved first.

Mar 30, 2013 10:42 AM #10
Rainmaker
647,193
Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

Absolutely get your "ducks in a row"!  That is the best advice.

Mar 31, 2013 12:22 AM #11
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