Home Previewing Tips
November 21st, 2009
Categories:Home Buyer Education
Here are some of the best tips we’ve gathered over the years for home buyers to use when previewing homes.
Here are the topics we will cover:
- How to do your homework
- What to bring to your appointment
- Previewing from the “Outside-In”
- Tools to download and use
Doing your Homework
It is very common for home buyers to find a home online, fall in love with it and instantly pick up the phone to make an appointment to preview the home. This type of home searching leads to home buyers seeing hundreds of homes when in reality they could have saved themselves and their Realtor a lot of time by just doing a little bit of homework.
Step 1: Google It
Lets start with Google Maps. By dropping the home address into the search box you can quickly see satellite views and street views. The street view will allow you to move along the neighborhood as if you were driving up and down the streets. This will give you a great snapshot of what the neighborhood and surrounding shopping plazas look like. From time to time the information will be a little outdated, but we’ll get to that in the next step. Read the rest of this entry »
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Weekend Cook-off!
November 20th, 2009
Categories:Off Topic
Last weekend I decided to cook a ton of food and freeze it for future meals. I’ve found this to be a really good way to always have a tasty dinner on hand that doesn’t take hours to shop for, prepare and cook. Instead all I need to do is typically toss the meal in the oven for 30 mins and I’m good to go.
Some meals go on the grill and others are cooked on the stove, just depends on what sounds good for dinner. No matter how it’s cooked it always tastes homemade.
I’ve had a few friends ask for the list of recipes, so I’ve scanned them in and uploaded them. 11.14.09 Recipes and Grocery List
The first page of the document is a shopping list. I learned very quickly when you prepare this much food it can be easy to forget an item or two or three. And since nothing drives me more insane than making additional trips to the grocery store, I make sure I get everything the first time out. So call it OCD if you will, but it pays to be prepared! Read the rest of this entry »
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Crayon Post: Interest Rates Matter
August 20th, 2009
Categories:Home Buyer Education
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The Disappearing Time Table for the Home Buyer Tax Credit
August 20th, 2009
Categories:Real Estate News
Will you be able to find a home and close in time to receive the $8,000 tax credit?
Let’s look at the home buying time line and discuss some of the pitfalls you’ll want to consider before spending any more time sitting on the fence or gambling on short-sales.
What We Know:
- Tax Credit “expires” on December 1st, 2009
- You must close on your home by November 30th
- The IRS says there will be NO exceptions
- Rumors of next year’s tax credit have gone silent
Time Factors for Each Party in the Transaction:
Depending on who owns the home and what process they are using to facility the sale, will vary greatly from home to home. Here’s a breakdown of how long each major phase of the sales process takes. Take note of the never ending list of reasons for a short sale to be delayed. Read the rest of this entry »
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Top 10 Myths Shared by First Time Homebuyers
August 18th, 2009
Categories:Home Buyer Education
This morning I came across an article listing the top 10 myths shared by first time homebuyers. While I don’t believe all of these are as common as they would have us believe, these are some excellent and very valuable myths to discuss.
Here are the Top 10 Myths:
- All real estate agents are the same
- The agent on the for sale sign will look out for my interest
- I can find all properties for sale on my own
- If i just wait long enough, I’ll find the perfect home
- I’ll improve the odds of finding the house i want if I work with more than one agent
- Buying a house is as simple as agreeing on a price and signing a few papers
- Foreclosures are the best deal
- Getting a mortgage should be quick and easy
- All mortgages are essentially the same
- If something appears on the inspection report the seller has to fix it
Myth #1: All Real Estate Agents Are the Same
I actually feel pretty bad for my friends and family, because they have certainly heard me beat this topic in the ground. I’m very passionate when it comes to changing the standards and expectations for Realtors. Read the rest of this entry »
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Get 22% off Your Next Home! (seriously)
August 3rd, 2009
Categories:Real Estate News
iMortgage has recently released a new loan program for homebuyers. It allows homebuyers to get 22% of their loan for free and do 1% down. FHA, Conventional, VA or USDA it doesn’t matter, this program will work. However, like most good deals the opportunity might not last long!
The program has one small catch, but if you can find a way around it this is an excellent way jump into a home with very little down!
Here’s a quick summary:
- The buyer still needs to come up with 3% down, however 2% of that can be “gifted” from a family member (etc)
- The 22% from ADOH never has to be paid back if the buyer stays in the home for 5-15 years! (depending on the amount) and if they pay it back, its a zero interest loan!
- This applies to bank owned properties only
- The home must sell for 1% below market appraised value (the catch)
Here is what i have so far Read the rest of this entry »
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FAQ: Why Do I Have to Pay the Hazard Insurance Premium Up Front?
August 3rd, 2009
Categories:Home Buyer Education
The hazard insurance premium, (also known as homeowner’s insurance) is an interesting topic. While homeowner’s/hazard insurance is commonly looked at as being voluntary on the homeowner’s part, it is typically something the lender will require the homeowner to have. In fact, Arizona’s state banking laws require lenders to collect a year of insurance upfront.
Essentially the lender/bank wants to make sure the home they are loaning you money for is insured against a variety of potentially damaging situations. These situations might range from floods to vandalism. Simply put, if your home gets flooded they want to know insurance is in place to protect your home and their financial investment.
Since the homeowner’s/hazard insurance is usually required by the bank, they will want to have record the home is insured before funding your loan. Hence why they want the premium paid upfront.
When it comes to homeowner’s/hazard insurance i would recommend talking with your insurance agent to determine the best policy. The most common homeowner’s/hazard insurance policy is referred to as a “basic form”. There is also a “broad form” available that covers a larger list of items.
Here’s a list of the most common items you will find in each form Read the rest of this entry »
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