Are you ready to buy a house?

By
Real Estate Agent with NHNR 01832572
https://activerain.com/droplet/4nGh

Interest rates are still at historic lows (for those with excellent credit). Home prices are extremely affordable when compared to area median incomes. There is a large supply of homes available in most markets (more homes to choose from and buyer advantage at negotiations).

Picture taken from http://www.bankrate.com/ on 09/23/2014 at12:30am

BankRateBut the questions remains. Are you ready to buy?

Answer this questions to see if you are ready

1. What is your credit score?

(a) less than 620
(b) between 730 and 850
(c) between 620 and 730.

2. Do you have cash for a 3.5 or 20 percent down payment?

(a) how much?
(b) yes
(c) not yet

3. Do you have cash totaling an 6 to 8 month emergency fund?

(a) I live month to month
(b) we have funds to cover 8 months of expenses
(c) we only have savings to cover a few months

4. Have you been pre-approved for a mortgage?

(a) I figured I’d find the house I like first
(b) Yes, and I have a copy of the letter
(c) I don't know where to apply

5. Is your job?

(a) temporary, part-time
(b) full-time and secure
(c) full-time, but our company might experiencing lay-offs

6. Do you plan on staying in your current city for the next 3 to 5 years?

(a) I won’t be here for that long
(b) Yes, most definitely
(c) I’m not sure

7. Have you worked on home buying budget?

(a) I don’t have time to do frivolous budgets
(b) I have a spreadsheet showing different scenarios
(c) I’ve worked up a few, but haven’t spent much time.

8. How much space do you need?

(a) I want a mansion. I’ll take nothing less
(b) We know within about 500 square feet
(c) we’ve given it some thought, but aren’t sure

9. Are you and your spouse or partner on the same page?

(a) it’s my way or the highway
(b) we’ve had several lengthy discussions and agree on most points
(c) we’ve talked, but have very different ideas

10. Why do you want to buy?

(a) I want a place i can show off
(b) I want stability for my family
(c) I want to be able to decorate like I want!

Home ownership is a big financial responsibility, Anemployment rate is 7.4 in California as of June, 2014, compared to what is was back in September 2010,  it’s important that you have funds in place to take care of yourself and your family before you you buy.
California Unemployment

If you answered mostly a’s, then our experts recommend you take some time to get your finances clean before proceeding. 

If you answered mostly b’c, congratulations! You sound like a prime candidate for home ownership 

If you answered mostly c’s, you are very close to being ready to buy.Check your credit report and fix any errors. Talk to banks and lenders and see what rates you qualify for.

If you have any questions please call me at 877-611-2288

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"Building Relationships One Home At A Time"

If you plan to buy or sell a High Desert home or property contact Hector by Email or call me at 877-611-2288. Put our record of customer service, real estate experience and state-of-the-art technology to work for you in the city of Adelanto, Victorville, Hesperia, Apple Valley or the entire Southern California Area.

Hector Reyes, Short Sale Specialist
¡Hablo Español!


Want to know more about me?  Just Google me!

 

Cellular: (760)881-4274 | Website: hectorreyes.net |DRE Licensee: 01832572

Neighbors Of Hope Now Realty |BRE ID: 01976968 | Victorville, CA 92395

Properties shown may not be listed by the featured agent/office.
All information deemed reliable, but not guaranteed

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Topic:
Home Buying
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California San Bernardino County Victorville
Tags:
buying a home
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Rainer
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Mike Warren
Real Estate - Colorado Springs, CO

Nice post HECTOR. vERY INFORMATIVE.

Sep 22, 2014 06:03 PM #1
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Rainmaker
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Hector Reyes

Southern California
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