Looking to purchase a new home can be a fun and joyous experience. However, because the home represents the single most costly investment most of us make, this decision should be diligent and serious.
As your exclusive buyer’s agent I am here to guide you and act in your best interest. I will guide you through the entire process of buying your dream home. From previewing homes and financing, to making sure the final contract is executed. I will provide you with full access to all homes available in your desired area. I can also provide you with homes that are available but are not listed in the Multiple Listing Services through my professional realtor networks.
With the ongoing market trends and opportunities, I am here to advise you with the current market value of homes in your desired neighborhood. As a homebuyer, you will have the opportunity to have comparable value of homes so that you will not spend more than what you have to purchase your home. I will negotiate for you and disclose all information about the property you are interested in.
As your exclusive buyer’s agent, let me represent your best interest in your search of a new home. Here are some resources to help you understand about purchasing a home.
- Plan of Action
- Market Conditions
- Mortgage Advice
- Importance of Inspections
- Benefits of Home Ownership
Plan of Action
Buying a home will probably rank as one of the biggest personal investments one can make. Being organized and in control will contribute significantly to getting the best home deal possible with the least amount of stress. It’s important to anticipate the steps required to successfully achieve your housing goal and to build a plan of action that will get you there. As your Realtor, I will help you build a plan of action to help you purchase your dream home
Here are some things to consider in building a plan of action in buying your home.
- Find a reliable and trustworthy agent
- Know how much you can afford on your mortgage
- Get Pre-Approved
- Know the price range of homes you are interested in
- Know where you would like to live
When purchasing a home, knowing the market conditions is very important. As your Realtor, my first task is to inform you of the market condition in the area where you wish to live in. There are three types of market conditions that you should be aware of:
In a hot market, it is an extremely competitive market. The hot market is one that is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. During a hot market, multiple offers will be made on each home. Also more often than not, homes will sell for more than their asking price. You have to be prepared as a buyer when the market is hot. You can easily get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.
In a normal market, there is a fairly large number of homes available and average numbers of buyers. Normal market does not necessarily favor the buyer or the seller. It is considered a neutral for both sellers and buyers. A seller may not have as many offers on their home, but he or she may not be so desperate to sell either. During a normal market, the chances to negotiate are higher than in a hot market. As a buyer, you can expect to make offers lower than the asking price and negotiate a price that is at least somewhat less than what the seller’s asking.
In a cold market, houses may be listed for more than a year and the prices of the houses listed may drop considerably. The cold market is advantageous to the buyer. As a buyer, you have the time to make an offer that works to your best interest. It is not uncommon to low-ball and find that the sellers are accommodating to meet your needs. As a buyer you can even request for sellers to pay for full closing cost to close the deal. Keep in mind that even though this market is great time for buyers, you do not want to lose your dream home by making unrealistic offers. You goal is to get your dream home at the best possible price.
Most homebuyers, their primary means of purchasing a home is through a mortgage. It is important to know how much you can get approved for and to determine your comfort level of mortgage payments. I can help you identify current rates and available loan programs that best suits your needs. Simply contact me so I can help you with your pre approval for your mortgage home.
To prepare for a mortgage consultation, have the following information available:
- Borrower’s home address for the previous 2 years
- Borrower’s social security number
- Borrower’s employment information for the previous 2 years
- Borrower’s income information including salary, overtime, bonuses, commissions, dividends, interest, retirement, and any other source of income
- Borrower’s liquid assets, including bank name, account type, balance, and source of down payment
- Borrower’s other asset, including value of bonds, stocks, life insurance, retirement funds, automobile, etc.
- Borrower’s other properties owned, property address, market value, outstanding liens, rental income, mortgage payments, taxes, insurance, etc.
Importance of Inspections
As a buyer, you are entitled to know exactly what you are getting. As your Realtor, I will guide you to have a professional home inspection. Don’t take this for granted for what you see is what you get and do not just listen to what the listing agents tell you. Hiring a professional home inspector, whether you are buying an existing home or a new home, is an opportunity to have an expert look closely at the property you are considering. Home inspectors will provide you both oral and written opinion as to its condition. It is very important that you as a buyer will be present during the time of home inspection. As your realtor, I will be your guide and will represent you fully until all contingency is met from the home inspection.
Benefits of Home Ownership
Home ownership has great benefits.
Tax Savings – You can have tax deduction for the mortgage interest and property taxes on your federal or state tax.
Stability – You have a monthly mortgage expense that is fixed for a certain period of time of your mortgage.
Equity - You may build equity in your home over the life of your loan. No one can make guarantees but over time real estate increases in value.
You are in Control – You have total control of your house. It is your home and you are the only one with power to do anything you want in your own home. There is no landlord involved but you.