Benifits of pre-approvals

Applying for a pre-approval from a lender is a quick and easy way for home buyers to increase appeal with sellers. A pre-approval is an agreement from a bank or mortgage company to provide a loan up to a certain amount for the purchase of a home.

While the lender commits to providing a loan, the buyer is under no obligation to use that company. If presented with a more attractive loan offer, the buyer can elect to use another lender without paying any penalty or fee.

Sellers prefer to work with buyers who are pre-approved because they know they are serious about purchasing a home and will not waste their time. An added benefit of being pre-approved is that it provides buyers with the peace of mind of knowing they are looking for a home they can afford and they are not spending beyond their means.

If you would like to learn more about the value of being pre-approved, I would be glad to provide you with additional information.

More Buyer Tips

When it comes to buying a house, there are countless factors and items that can make the difference between finding the home of your dreams or simply a place to live. If you decide to search for a new home, be sure to consider these helpful tips.

1. Evaluate the home’s floor plan, yard size and shape and determine if there is enough living space, storage and bathrooms.

2. If commuting time is important to you, take a “test drive” – get up extra early or stay at a nearby hotel and drive to work from the home you’re considering.
3. Pay attention to the listing date of the home. Sellers tend to be more flexible the longer a house is on the market.

4. When you find a home you like, be sure to ask the owner about their average monthly utility payments and any other regular expenses.

5. Be sure to review the seller disclosure statement to see if the house has ever had water in the basement and to confirm the age of the furnace, central air conditioning system and roof.

6. Take the time to measure all rooms for your furniture. Don’t try to “eyeball” it based on the current owner’s furniture and placement.

To learn more about how I can assist you in your home buying needs, please feel free to contact me.

More

When it comes to buying a house, there are countless factors and items that can make the difference between finding the home of your dreams or simply a place to live. If you decide to search for a new home, be sure to consider these helpful tips.
• Evaluate the home’s floor plan, yard size and shape and determine if there is enough living space, storage and bathrooms
• If commuting time is important to you, take a “test drive” – get up extra early or stay at a nearby hotel and drive to work from the home you’re considering.
• Pay attention to the listing date of the home. Sellers tend to be more flexible the longer a house is on the market.
• When you find a home you like, be sure to ask the owner about their average monthly utility payments and any other regular expenses.
• Be sure to review the seller disclosure statement to see if the house has ever had water in the basement and to confirm the age of the furnace, central air conditioning system and roof.
• Take the time to measure all rooms for your furniture. Don’t try to “eyeball” it based on the current owner’s furniture and placement
To learn more about how I can assist you in your home buying needs, please feel free to contact me.

Do you need help with your mortgage?

If you're one of the many thousands who are struggling to keep up with your mortgage payments these days due to loss of income, variable loan rate resets, there is help available from the Government without cost.

For example, http://makinghomeaffordable.gov/ gives much assistance and alerts you to numerous scams out there that make fantastic promises with little or no real solutions. It gives advice on how to handle most income related problems and helps you understand the various ways to improve your situation with minimal effect on your credit score, etc.

they offer help in finding low/no cost counseling in your local area. It's a site that war rents your attention

Tips to attract buyers to your home for sale

1. Improve first impressions. Touch up the paint on the front door and other areas that buyers see first.

2. Clean up the landscaping. Trim the hedges and trees and plant some annuals in the flowerbeds.

3. Paint the interior. A coat of light yellow or cream with contrasting white woodwork looks fresh and clean.

4. Refurbish the floors. Buff the hardwoods. Install new carpets – or at least get them professionally cleaned.

5. Take care of the big problems. If the house needs a roof or the front stoop is crumbling, get them fixed.

6. Buy warranties. Putting appliances under warranty gives home buyers a secure feeling.

7. Improve energy efficiency. New windows or improved insulation tells a potential buyer the seller is on top of things plus they come with tax benefits.

8. Replace light fixtures. Updated fixtures, especially at the entrance way and in the foyer, create a good first impression.

9. Buy a stove. Home owners whose kitchen aren't top of the line can jazz it up for a few hundred dollars by buying a new stove, which gives the room a fresh feel.

10. Tidy up the bathrooms. Get rid of mildew, replace caulking, and replace stained sinks.

Source: U.S. News & World Report, Luke Mullins (01/21/2010)

Don't forget that home warranty

When buying a home, particularly an older house, buyers are often understandably concerned about the potential need for expensive home repairs in the future. Home warranty programs, such as the ERA® Home Protection Plan®, are available to buyers and sellers to help alleviate this concern.

Home warranty programs can offer protection for the seller during the listing period until settlement. Payment by the seller occurs at settlement, so if the house doesn't sell, there is no cost for the listing period.

Upon settlement coverage transfers to the buyer and includes most major repair or replace expenses within a home for up to a year or more after closing.

With this added sense of security, it is easy to see why houses covered by home warranty programs on average sell faster than comparable homes without any such protection.

If you are interested in learning more about Home Warranties I would be glad to provide you with additional information.

Is Buying still the answer for families?

Those who have never owned a home before may ask about the benefits of owning versus renting. Does it still make sense to buy, or is it better to rent until better times?

While paying mortgage payments and property taxes may seem like an expensive and stressful proposition over the near worry-free lifestyle of renting, these expenses actually provide great financial benefit for homeowners.

When you rent, every dollar you pay is retained by the landlord and of course you get no tax breaks. However, when you purchase a home, a portion of each monthly mortgage payment is used to pay down the principal amount of the loan, and in return increases your equity in the property.

In addition, you can offset much of the cost of property taxes and mortgage interest through allowable tax deductions. Finally, by owning a home you may also increase your equity as the property appreciates in value.

For specific information on the financial and tax benefits of buying compared to renting, contact your local financial or tax consultant.

Don't miss the opportunity of a generation; if you are able to buy now, prices and interest rates continue at historic lows.