Generally the real estate market fluctuates between the buyer's market and the seller's market. Currently the Metro Phoenix market is leaning towards favoring the buyers. What this translates into is excellent opportunity for buyers to grab that home that they have always dreamed of. Now keep in mind that this means there is a higher number of homes for sale then there are buyers, and there is a lot of competition for the attention of prospective buyers. It would serve any home shopper well to take their time in selecting a home as the market has provided a wealth of choices and opportunities.
In a buyer's market, home shoppers have the advantage of taking their time to look at properties without the stress of wondering if their dream home will be swept out from underneath them. It is easier to avoid this in a buyer's market, however there are still the same preliminary steps that should be observed so that when the perfect home is found; action can swiftly be taken. Mortgage pre approval, as with any home purchase; is essential to the smooth purchase of a home. There is nothing worse than finding that ideal home and then having to scramble for financing only to lose it at the last minute to a buyer with financing already in place.
Buyer's markets are fantastic for buyers as the name indicates. This is the ideal kind of market to be buying in as it is easier for home shoppers to get some great deals on great homes. If the purchase of a home is not an absolute necessity, it could be well worth the wait for your local market to become a buyer's market. Keep in regular contact with your realtor for info on the latest changes and fluctuations in the market and you should be able to time the purchase correctly.
http://www.realestateinvestmentarticles.net/Article/home-buying----The-Buyer-s-Market--Buyers-/2868
Friday, October 5, 2007
home buying - "Using A Buyers Agent"
One of the emerging trends in buying real estate has been the evolution of the role of buyer's agent. It seems that the roles of real estate agents have been growing ever more defined as buyers and sellers require vastly different services in their pursuit of homes or home sales. So what is the role of an agent dedicated solely to buying?
To start, a buyer's agent is an expert on the art of purchasing. This includes a wide breadth of information and education in the current market. Buyer's agents are constantly updating and educating themselves on current market trends to ensure that their clients are paying the right prices for homes. They will know if a seller is asking too much, and if there is room to negotiate.
Long before the offer process even starts, the buyers agent will begin to search the homes that are available on the local market according to your distinct criteria. As agents that deal singly with buying they are champions at keeping themselves aware of the latest listings and are also skilled at matching clients to homes quickly and within a given price range.
Once an appropriate home is found, the buyer's agent then begins the process of coordinating the viewings, and if an offer is made; the inspections process. Essentially the role of a buyer's agent is to become a conduit between the buyer and the seller, making it necessary for the buyer to do nothing but view the home and sign the papers.
In today's high paced world of real estate time is of the essence. It requires an agent who is quick to respond and fulfills all of the needs of their clients with accuracy and confidence. The customer service that is offered by a buyer's agent is second to none. If you are looking to purchase a home with the least amount of stress and worry then a buyer's agent is the agent for you.
http://www.realestateinvestmentarticles.net/Article/home-buying----Using-A-Buyers-Agent-/2867
To start, a buyer's agent is an expert on the art of purchasing. This includes a wide breadth of information and education in the current market. Buyer's agents are constantly updating and educating themselves on current market trends to ensure that their clients are paying the right prices for homes. They will know if a seller is asking too much, and if there is room to negotiate.
Long before the offer process even starts, the buyers agent will begin to search the homes that are available on the local market according to your distinct criteria. As agents that deal singly with buying they are champions at keeping themselves aware of the latest listings and are also skilled at matching clients to homes quickly and within a given price range.
Once an appropriate home is found, the buyer's agent then begins the process of coordinating the viewings, and if an offer is made; the inspections process. Essentially the role of a buyer's agent is to become a conduit between the buyer and the seller, making it necessary for the buyer to do nothing but view the home and sign the papers.
In today's high paced world of real estate time is of the essence. It requires an agent who is quick to respond and fulfills all of the needs of their clients with accuracy and confidence. The customer service that is offered by a buyer's agent is second to none. If you are looking to purchase a home with the least amount of stress and worry then a buyer's agent is the agent for you.
http://www.realestateinvestmentarticles.net/Article/home-buying----Using-A-Buyers-Agent-/2867
home buying - "Things To Look For When Buying: Interior Concerns"
When buying a home, you naturally want to get the best home possible for your money. One thing that you can do to ensure that you are receiving a quality home is to check the interior for faults or things that may require fixing or replacing. The following is a list of interior concerns and things to check before making an offer on any home.
Discoloration - This is a huge issue in some older homes. Discoloration on the walls, ceiling, or floors can indicate a leak or mold growth. Leaks in the roof or plumbing can be costly and drastically affect the integrity of the home.
The Electrical Panel - It's always a good idea to have a look at the breaker box/panel when considering the purchase of a home. The panel can indicate the quality of the wiring and electrical system. If the panel is disorganized, then the wiring may be as well.
Basements - If the home has a basement then it is definitely a place you will want to check out. The condition of the basement can be telling of the quality of the foundation of the home. Cracks in basement walls could easily mean that the structure has faults.
Bathrooms - Bathrooms should always be checked for softness around the toilet and sink. If there is softness around these areas you may have to put in a new floor. It can also be indicative of a plumbing problem with the toilet, sink or tub/shower.
Windows - Fogged windows can mean broken window seals. This in turn means higher heating bills during the colder weather.
Smell - If there are any unpleasant smells in the home take note. Musty smells can indicate mold or mildew growth. Either can be a big drawback in a home.
http://www.realestateinvestmentarticles.net/Article/home-buying----Things-To-Look-For-When-Buying--Interior-Concerns-/2844
Discoloration - This is a huge issue in some older homes. Discoloration on the walls, ceiling, or floors can indicate a leak or mold growth. Leaks in the roof or plumbing can be costly and drastically affect the integrity of the home.
The Electrical Panel - It's always a good idea to have a look at the breaker box/panel when considering the purchase of a home. The panel can indicate the quality of the wiring and electrical system. If the panel is disorganized, then the wiring may be as well.
Basements - If the home has a basement then it is definitely a place you will want to check out. The condition of the basement can be telling of the quality of the foundation of the home. Cracks in basement walls could easily mean that the structure has faults.
Bathrooms - Bathrooms should always be checked for softness around the toilet and sink. If there is softness around these areas you may have to put in a new floor. It can also be indicative of a plumbing problem with the toilet, sink or tub/shower.
Windows - Fogged windows can mean broken window seals. This in turn means higher heating bills during the colder weather.
Smell - If there are any unpleasant smells in the home take note. Musty smells can indicate mold or mildew growth. Either can be a big drawback in a home.
http://www.realestateinvestmentarticles.net/Article/home-buying----Things-To-Look-For-When-Buying--Interior-Concerns-/2844
home buying - "Confidence & Home Buying"
There is a certain something to be said for having confidence when purchasing a home. The financial concerns that come with home buying can be a confusing thing to deal with at first. However, there are a few steps that a new home buyer can take in order to build their confidence and streamline the buying process.
Pre Approval
Careful Shopping
Title Insurance
Home Inspection
Liens & Easements
The financing process is the step that usually causes the most stress and worry for new home buyers. People wonder if they will be able to afford the home of their dreams. Pre-approval for financing is the quickest way to qualify your interest in the home market. A pre-approval will let you know exactly what you can afford and what you can't. So many eager home buyers have had their dreams crushed after falling in love with a home only to realize that it is far outside their financial reach.
The next issue is careful shopping. If you know what you are looking for and what you can afford before the search starts it will be far less stressful. Make a few lists detailing what you cannot be without and don't be afraid to seek these homes out. A confidant buyer is one who is willing to take some time to find just the right home. After finding a good candidate, view the house as many times as you need to make a smart choice.
Another thing that you should never be without is title insurance. This comes in handy if there are any "weak links" in the chain of ownership that your house has gone through. Of course, you are making a legitimate offer on the home and are investing a huge amount of money. The last thing you need is a title concern from owners previous to cause trouble for you.
Home inspections are an extremely important step in acquiring a home. Without a proper inspection you may never know about structural problems, concerns with plumbing, heating or sewage systems, mold and other concerns. Most home offers should be made contingent on the home's passing of an inspection. Be wary of sellers who do not want an inspection done on their home.
Finally, be sure to find out about any liens or easements on the property. Likely any liens will come up during the title search, but easements are more ambiguous. Easements can be as simple as a fence line that has been agreed upon for many years or a community access road. An easement is quit simply a "right to use" a certain area of land that is owned by another party.
If you are mindful of these things when purchasing a home the process will lose much of its confusion and fear. Be sure of what you want and don't be afraid to go for it!
http://www.realestateinvestmentarticles.net/Article/home-buying----Confidence---Home-Buying-/2840
Pre Approval
Careful Shopping
Title Insurance
Home Inspection
Liens & Easements
The financing process is the step that usually causes the most stress and worry for new home buyers. People wonder if they will be able to afford the home of their dreams. Pre-approval for financing is the quickest way to qualify your interest in the home market. A pre-approval will let you know exactly what you can afford and what you can't. So many eager home buyers have had their dreams crushed after falling in love with a home only to realize that it is far outside their financial reach.
The next issue is careful shopping. If you know what you are looking for and what you can afford before the search starts it will be far less stressful. Make a few lists detailing what you cannot be without and don't be afraid to seek these homes out. A confidant buyer is one who is willing to take some time to find just the right home. After finding a good candidate, view the house as many times as you need to make a smart choice.
Another thing that you should never be without is title insurance. This comes in handy if there are any "weak links" in the chain of ownership that your house has gone through. Of course, you are making a legitimate offer on the home and are investing a huge amount of money. The last thing you need is a title concern from owners previous to cause trouble for you.
Home inspections are an extremely important step in acquiring a home. Without a proper inspection you may never know about structural problems, concerns with plumbing, heating or sewage systems, mold and other concerns. Most home offers should be made contingent on the home's passing of an inspection. Be wary of sellers who do not want an inspection done on their home.
Finally, be sure to find out about any liens or easements on the property. Likely any liens will come up during the title search, but easements are more ambiguous. Easements can be as simple as a fence line that has been agreed upon for many years or a community access road. An easement is quit simply a "right to use" a certain area of land that is owned by another party.
If you are mindful of these things when purchasing a home the process will lose much of its confusion and fear. Be sure of what you want and don't be afraid to go for it!
http://www.realestateinvestmentarticles.net/Article/home-buying----Confidence---Home-Buying-/2840
home buying - "Some Things To Remember About Home Buying"
Home buying is truthfully one of the most fulfilling things an individual or couple can do. However, this fulfillment only comes when the purchase is thoroughly planned and closes without problems. The one thing that you never want to happen is buyer's remorse. With such a large purchase it just doesn't make sense to rush it. Here are a few good things to think about when you begin to look for that perfect home.
One of the best things that a buyer can do during the process of purchasing or looking to purchase a home is to stay connected with their realtor. Your real estate agent should be able to provide you with all the relevant info on the homes that you are considering and will also assist in finding any information that they cannot provide. Check with your insurance agent and financial institution to ensure that the payments for the home are workable for you and don't forget to include funds for the closing costs and home inspection.
Do you have any questions about your finances? Whether you do or don't, make sure that you have a good handle on them before you start looking for a home. You should know every aspect of your financial history and your credit picture. It may be necessary to do some credit correction before you get approved for a good mortgage. Once you have examined your credit situation and made any necessary corrections, get pre-approved for a mortgage. Having a pre-approval will ensure that buyers take your offers seriously, as offers with established funding already behind them tend to hold more credence than offers that do not.
Don't ever "settle" for a home. If it takes a bit longer for you to find the perfect home, it's worth the wait. There is nothing worse than living in a home that doesn't suit your needs. It's all part of knowing what you need, and what you want. This is something that should be clearly and precisely communicated to your realtor at the start. This will allow them to tailor the home search to your unique needs and find that perfect home for you. That home is out there, it just needs to be found!
http://www.realestateinvestmentarticles.net/Article/home-buying----Some-Things-To-Remember-About-Home-Buying-/2831
One of the best things that a buyer can do during the process of purchasing or looking to purchase a home is to stay connected with their realtor. Your real estate agent should be able to provide you with all the relevant info on the homes that you are considering and will also assist in finding any information that they cannot provide. Check with your insurance agent and financial institution to ensure that the payments for the home are workable for you and don't forget to include funds for the closing costs and home inspection.
Do you have any questions about your finances? Whether you do or don't, make sure that you have a good handle on them before you start looking for a home. You should know every aspect of your financial history and your credit picture. It may be necessary to do some credit correction before you get approved for a good mortgage. Once you have examined your credit situation and made any necessary corrections, get pre-approved for a mortgage. Having a pre-approval will ensure that buyers take your offers seriously, as offers with established funding already behind them tend to hold more credence than offers that do not.
Don't ever "settle" for a home. If it takes a bit longer for you to find the perfect home, it's worth the wait. There is nothing worse than living in a home that doesn't suit your needs. It's all part of knowing what you need, and what you want. This is something that should be clearly and precisely communicated to your realtor at the start. This will allow them to tailor the home search to your unique needs and find that perfect home for you. That home is out there, it just needs to be found!
http://www.realestateinvestmentarticles.net/Article/home-buying----Some-Things-To-Remember-About-Home-Buying-/2831
home buying - "Be A Careful Buyer"
In today's real estate industry it pays to be a careful buyer. This applies to both homes and mortgages. Typically you will have to shop for a mortgage first, so let's have a look at that. There is a huge number of different mortgage options available to consumers today. Not all of them have your best interests in mind. There are definitely some unscrupulous lenders out there so be sure to do some research on prospects. Be careful of mortgage deals that sound too good to be true. Too many people have signed up for these lending schemes only to be faced with huge payments that they did not expect. Be really careful when signing with a particular lender, always check with local organizations like the BBB and the Chamber of Commerce to make sure that your lender has a good reputation and track record.
You should be just as careful in selecting your realtor. Don't hesitate to ask for, and check references. This is the gauge of a realtor's ability and history. Also, be sure to hire a quality inspector to perform the home inspection. This is one of the most important aspects of the sale and should never be skipped. The inspection can turn up major or minor things that you as a buyer aren't aware of. If there are structural issues, plumbing problems, roof concerns, or anything else that puts the integrity of the home in question then it will turn up during the inspection. You should make sure that all of these concerns are seen to before you sign any agreements on the home, unless you are willing to fix them yourself. If this is the case then these things can likely be used as bargaining points to get you a more attractive price on the home. If you estimate the cost of fixing everything then try to get that amount taken off the price.
It is in your best interests to ensure that you are educated as best you can be when buying a home. Your realtor is a great source on information so don't be afraid to ask questions. Being a careful buyer is essential these days so don't sell yourself short. Do the necessary legwork and enjoy your new home.
http://www.realestateinvestmentarticles.net/Article/home-buying----Be-A-Careful-Buyer-/2828
You should be just as careful in selecting your realtor. Don't hesitate to ask for, and check references. This is the gauge of a realtor's ability and history. Also, be sure to hire a quality inspector to perform the home inspection. This is one of the most important aspects of the sale and should never be skipped. The inspection can turn up major or minor things that you as a buyer aren't aware of. If there are structural issues, plumbing problems, roof concerns, or anything else that puts the integrity of the home in question then it will turn up during the inspection. You should make sure that all of these concerns are seen to before you sign any agreements on the home, unless you are willing to fix them yourself. If this is the case then these things can likely be used as bargaining points to get you a more attractive price on the home. If you estimate the cost of fixing everything then try to get that amount taken off the price.
It is in your best interests to ensure that you are educated as best you can be when buying a home. Your realtor is a great source on information so don't be afraid to ask questions. Being a careful buyer is essential these days so don't sell yourself short. Do the necessary legwork and enjoy your new home.
http://www.realestateinvestmentarticles.net/Article/home-buying----Be-A-Careful-Buyer-/2828
home buying - "New Construction vs Established Homes"
There is currently a lot of discussion happening in the real estate industry about the merits of new construction homes vs the merits of older established homes. There seems to be a real push for new construction homes as they are a bit of a status symbol, but there are some definite assets to older homes that today's new homes simply cannot equal. This is not to say the older or newer homes are superior to one another, simply that there are some differences that should be considered before purchasing either.
Let's examine the pros and cons of each in turn. New construction homes are simply that; new. Everything in them is shiny and usually the latest model/style. New homes will typically conform to all current community standards, and be more energy efficient. Another asset is that these homes are usually in newer developments that have excellent landscaping and services, and the area itself usually has quite a high property value. Now, there are some cons as well. New homes are being constructed at such a rapid rate and such a high cost that many contracts are going to the lowest bidder. Some contractors that bid low are able to do so by rushing through the building process and cutting corners by using cheap supplies and labor. This, again is not to condemn contractors, simply that it is an issue that needs to be considered in new construction homes. Also, if you take a look at the average new development you will notice that the actual size of the properties is much smaller than those of established neighborhoods.
As stated above, if you are looking for a larger piece of property then an established area might be a better choice. It is also said that the level of craftsmanship utilized in the building of older homes exceeds that of many new developments. This opinion is hit and miss. Like any area of business there are those who excel and those who do not, no matter what year it is. Also, many older homes have a "character" that it is almost impossible to duplicate in new homes. Many new homes are built utilizing these "character" elements but the effect is never the same. With either form of housing the final choice is, of course yours. Simply make sure that you consider all the aspects of the homes construction, property, benefits and drawbacks so that you can make an educated decision on which type of home to purchase.
http://www.realestateinvestmentarticles.net/Article/home-buying----New-Construction-vs-Established-Homes-/2812
Let's examine the pros and cons of each in turn. New construction homes are simply that; new. Everything in them is shiny and usually the latest model/style. New homes will typically conform to all current community standards, and be more energy efficient. Another asset is that these homes are usually in newer developments that have excellent landscaping and services, and the area itself usually has quite a high property value. Now, there are some cons as well. New homes are being constructed at such a rapid rate and such a high cost that many contracts are going to the lowest bidder. Some contractors that bid low are able to do so by rushing through the building process and cutting corners by using cheap supplies and labor. This, again is not to condemn contractors, simply that it is an issue that needs to be considered in new construction homes. Also, if you take a look at the average new development you will notice that the actual size of the properties is much smaller than those of established neighborhoods.
As stated above, if you are looking for a larger piece of property then an established area might be a better choice. It is also said that the level of craftsmanship utilized in the building of older homes exceeds that of many new developments. This opinion is hit and miss. Like any area of business there are those who excel and those who do not, no matter what year it is. Also, many older homes have a "character" that it is almost impossible to duplicate in new homes. Many new homes are built utilizing these "character" elements but the effect is never the same. With either form of housing the final choice is, of course yours. Simply make sure that you consider all the aspects of the homes construction, property, benefits and drawbacks so that you can make an educated decision on which type of home to purchase.
http://www.realestateinvestmentarticles.net/Article/home-buying----New-Construction-vs-Established-Homes-/2812
home buying - "Home Buying: Exterior Concerns"
When buying a home there are a myriad of concerns that you should deal with before making the final commitment to buy. One of these concerns should be the condition of the exterior of the home. This does not merely refer to how the outside looks, rather the actual condition of the home's exterior and the materials used to construct it. There will be different concerns depending on what your home's exterior is made up of, wood, stucco, brick or other stone surface materials or even vinyl or aluminum siding.
One of the most common exterior surfaces is wood. Unfortunately wood is more susceptible to the elements than other surfaces and termites and other bugs can become a problem if not discovered early on. Before buying a home with a wood exterior make sure that you inspect the wood for weather damage and wear. All exterior wood should be properly weather sealed and maintained on a regular basis. With stucco there are a different variety of concerns. If improperly prepared, stucco can be porous and allow moisture beneath the surface of the home. Also, all seams and corners must be properly sealed to prevent leakage. Water damage can lead to stucco crumbling and to the materials beneath it rotting.
Brick and stone brings another concern to the table, this mainly refers to the cracking of the mortar that holds the stones in place. It is something that can be fairly easily repaired but the difficulty comes in recognizing the problem when it begins. Hopefully this article has not spooked anyone on buying a home. These problems occur when homes are constructed improperly or when mistakes are made during building or renovation. Be sure when you buy a home that you take every aspect of the home into consideration before committing. It will ensure that you are a happier home owner in the long run.
http://www.realestateinvestmentarticles.net/Article/home-buying----Home-Buying--Exterior-Concerns-/2811
One of the most common exterior surfaces is wood. Unfortunately wood is more susceptible to the elements than other surfaces and termites and other bugs can become a problem if not discovered early on. Before buying a home with a wood exterior make sure that you inspect the wood for weather damage and wear. All exterior wood should be properly weather sealed and maintained on a regular basis. With stucco there are a different variety of concerns. If improperly prepared, stucco can be porous and allow moisture beneath the surface of the home. Also, all seams and corners must be properly sealed to prevent leakage. Water damage can lead to stucco crumbling and to the materials beneath it rotting.
Brick and stone brings another concern to the table, this mainly refers to the cracking of the mortar that holds the stones in place. It is something that can be fairly easily repaired but the difficulty comes in recognizing the problem when it begins. Hopefully this article has not spooked anyone on buying a home. These problems occur when homes are constructed improperly or when mistakes are made during building or renovation. Be sure when you buy a home that you take every aspect of the home into consideration before committing. It will ensure that you are a happier home owner in the long run.
http://www.realestateinvestmentarticles.net/Article/home-buying----Home-Buying--Exterior-Concerns-/2811
home buying - "Finding a Home, Not Just a House"
There is a difference between a house and a home. A house is simply that, it's some walls, a roof, all you stuff inside. A home is something different altogether, it's an intangible concept that arrives when you feel like you have settled into a place where you will be for sometime. Someone once said "home is where you make it." Truer words were never spoken. So the question is, how can you be sure you have found that special house that can really become a home?
Well, to start; you should be on the lookout for potential candidates with certain criteria in mind. If you have some defined "musts" listed before you start looking, you should be able to find the right place. Now, it's important to separate needs from wants at this point. Also, try to think in terms of future needs as well. If you plan on expanding your family for instance, then you will need the room to do so. Typical needs run in the areas of rooms, backyards, proximity to schools, work and other services. Also, be mindful of what needs are more important than others. Sometimes it can be difficult to find a place that fulfills every need and one may have to be compromised, but hopefully not.
For a house to really become a home, it really needs to satisfy you as the buyer on many different levels. One of the main things that must happen is after the purchase process is finished, the buyer must have the ability to sit back and be completely happy with their purchase. This is largely related to the service that they receive from their realtor during the sale. If the realtor has fulfilled their duty then the client will never think "did I get the best deal and the best home for my dollar?" An agent has a huge role in the overall satisfaction of their clients. Realtors help make houses homes.
http://www.realestateinvestmentarticles.net/Article/home-buying----Finding-a-Home--Not-Just-a-House-/2783
Well, to start; you should be on the lookout for potential candidates with certain criteria in mind. If you have some defined "musts" listed before you start looking, you should be able to find the right place. Now, it's important to separate needs from wants at this point. Also, try to think in terms of future needs as well. If you plan on expanding your family for instance, then you will need the room to do so. Typical needs run in the areas of rooms, backyards, proximity to schools, work and other services. Also, be mindful of what needs are more important than others. Sometimes it can be difficult to find a place that fulfills every need and one may have to be compromised, but hopefully not.
For a house to really become a home, it really needs to satisfy you as the buyer on many different levels. One of the main things that must happen is after the purchase process is finished, the buyer must have the ability to sit back and be completely happy with their purchase. This is largely related to the service that they receive from their realtor during the sale. If the realtor has fulfilled their duty then the client will never think "did I get the best deal and the best home for my dollar?" An agent has a huge role in the overall satisfaction of their clients. Realtors help make houses homes.
http://www.realestateinvestmentarticles.net/Article/home-buying----Finding-a-Home--Not-Just-a-House-/2783
home buying - "Before Buying: Things To Do"
One of the most important things about purchasing a home is to find out about the home's history and the history of the neighborhood. Usually the seller's info pack will include a few things, but you should always make sure that you get a property disclosure statement. This statement is a list of everything that the seller knows about the home, positive or negative. It should include things like mold damage, fires, and any other kind of concern with the actual home itself. If a seller knows about a problem, it MUST be disclosed on the statement. If it is not disclosed then the seller had placed themselves in an awkward position where they can be held financially responsible for repairs or damage.
When considering the purchase of a home, take some time to speak with the neighbors. Ask them about their experience living in the area. Are there any concerns that you should know about, or maybe problem people? This is also a good time to ask neighbors about the home that you are thinking of buying. Perhaps they know of some damage that occurred to the home that is not mentioned on the disclosure statement. It's also kind of nice to have some familiarity with the neighbors and area prior to moving in. Feeling like you are already a part of the community before you arrive can significantly reduce the stress of moving into a new area.
It is also a good idea to spend time investigating any neighborhood before you move into it. This research should include everything from educational facilities and recreation areas to crime statistics and property tax rates. Also, consider the area's political past and future. This can have a big effect on the developmental future of any community. Wouldn't you like to know if they are planning on putting a huge shopping center in your backyard? Or a new highway? The economic future of an area is a big deal that will have a big impact on you and your family for years to come. These are things that you should definitely know before you commit to a new home.
http://www.realestateinvestmentarticles.net/Article/home-buying----Before-Buying--Things-To-Do-/2779
When considering the purchase of a home, take some time to speak with the neighbors. Ask them about their experience living in the area. Are there any concerns that you should know about, or maybe problem people? This is also a good time to ask neighbors about the home that you are thinking of buying. Perhaps they know of some damage that occurred to the home that is not mentioned on the disclosure statement. It's also kind of nice to have some familiarity with the neighbors and area prior to moving in. Feeling like you are already a part of the community before you arrive can significantly reduce the stress of moving into a new area.
It is also a good idea to spend time investigating any neighborhood before you move into it. This research should include everything from educational facilities and recreation areas to crime statistics and property tax rates. Also, consider the area's political past and future. This can have a big effect on the developmental future of any community. Wouldn't you like to know if they are planning on putting a huge shopping center in your backyard? Or a new highway? The economic future of an area is a big deal that will have a big impact on you and your family for years to come. These are things that you should definitely know before you commit to a new home.
http://www.realestateinvestmentarticles.net/Article/home-buying----Before-Buying--Things-To-Do-/2779
home buying - "Home Buying No-No's"
The process of purchasing a home stretches far beyond the actual purchase of the home. It has far-reaching effects and consequences if not handled properly. There are quite a few commonly made mistakes in home buying, a lot of them have to do with the contracts that are necessary to complete the sale and others are mainly related to skipping vital parts of the process in order to make a quick purchase. This tends to happen when there are competing offers. Sellers think they have hit a gold mine when there are competing offers on their home.
This is the kind of environment where buyers can get taken advantage of, so be careful. One of the most commonly skipped steps is the home inspection. Bad idea. How do you know what the possible concerns with a house are? What happens if you win the bid war only to have to spend twice what you saved in fixing the house? Was it worth it? Home inspections are vital to ensuring that buyers are getting a good, safe product. If a home sale comes down to the condition of skipping the inspection you may want to question the reason for that condition.
Try to avoid verbal agreements in the deal at all costs. As this kind of agreement is almost impossible to verify, make sure that every aspect of the sale, its subjects, what comes with the home is all detailed in writing and signed by both parties. With a purchase of this magnitude everything should be detailed and recorded. This also applies to the original listing information. It's a good idea to verify all the listing info at the start of the purchase. If this info is incorrect, take the time to check for other inconsistencies.
The focus of this article is not to make you nervous about buying a home, merely to make you aware of some of the things to look out for when doing so. It would be nice to think that all sellers are scrupulous and honest, but if that were so then articles such as this one would not be necessary. Be careful and do your homework when purchasing a home and confer with your realtor on all aspects of the sale. They are the best people to help you avoid any pitfalls.
http://www.realestateinvestmentarticles.net/Article/home-buying----Home-Buying-No-No-s-/2758
This is the kind of environment where buyers can get taken advantage of, so be careful. One of the most commonly skipped steps is the home inspection. Bad idea. How do you know what the possible concerns with a house are? What happens if you win the bid war only to have to spend twice what you saved in fixing the house? Was it worth it? Home inspections are vital to ensuring that buyers are getting a good, safe product. If a home sale comes down to the condition of skipping the inspection you may want to question the reason for that condition.
Try to avoid verbal agreements in the deal at all costs. As this kind of agreement is almost impossible to verify, make sure that every aspect of the sale, its subjects, what comes with the home is all detailed in writing and signed by both parties. With a purchase of this magnitude everything should be detailed and recorded. This also applies to the original listing information. It's a good idea to verify all the listing info at the start of the purchase. If this info is incorrect, take the time to check for other inconsistencies.
The focus of this article is not to make you nervous about buying a home, merely to make you aware of some of the things to look out for when doing so. It would be nice to think that all sellers are scrupulous and honest, but if that were so then articles such as this one would not be necessary. Be careful and do your homework when purchasing a home and confer with your realtor on all aspects of the sale. They are the best people to help you avoid any pitfalls.
http://www.realestateinvestmentarticles.net/Article/home-buying----Home-Buying-No-No-s-/2758
home buying - "Finding Your Perfect Home"
Finding the home that is right for you and your family can be a complicated undertaking. Add to this the fact that you will likely need to find a home that will perfect for many years to come and the process becomes even harder. So how can you best be sure that you will find the right home? Preparation and patience. There's no two ways about it, when looking for a home you need to do your homework (pun intended) and be patient and not jump on the first "acceptable" home that comes up.
You have the right to be choosy when buying a home, after all you are spending a rather large amount of money. Set some time aside with your realtor and compile a definitive list of requirements for your perfect home. This is the list that you should not deviate from no matter what. The things on this list should be absolute necessities. Keep all the things that would be nice to have in a home for another list. This necessity list should contain things like room requirements, location, access to schools and transit if needed.
Now is the time to work closely with your realtor finding a group of homes that fit your criteria and having a look at each. Keep in mind that if you find a house that suits all your needs, you don't have to jump to make an offer. You never know, there may be other homes that will suit you even better so take the time to consider all the options. It's a good idea to make sure that you have your mortgage pre-approved and ready to go at this time so when you choose to make an offer, there will not be any hold ups in the financing.
http://www.realestateinvestmentarticles.net/Article/home-buying----Finding-Your-Perfect-Home-/2751
You have the right to be choosy when buying a home, after all you are spending a rather large amount of money. Set some time aside with your realtor and compile a definitive list of requirements for your perfect home. This is the list that you should not deviate from no matter what. The things on this list should be absolute necessities. Keep all the things that would be nice to have in a home for another list. This necessity list should contain things like room requirements, location, access to schools and transit if needed.
Now is the time to work closely with your realtor finding a group of homes that fit your criteria and having a look at each. Keep in mind that if you find a house that suits all your needs, you don't have to jump to make an offer. You never know, there may be other homes that will suit you even better so take the time to consider all the options. It's a good idea to make sure that you have your mortgage pre-approved and ready to go at this time so when you choose to make an offer, there will not be any hold ups in the financing.
http://www.realestateinvestmentarticles.net/Article/home-buying----Finding-Your-Perfect-Home-/2751
home buying - "Buying: Knowing The Area"
One of the most important aspects of any home that you move into is, without a doubt; the area. Homes may look fantastic online, but there is always the possibility that the area this fantastic home is in may be less than desirable. Before you move to any new town, subdivision or city, its a good idea to do a little research and find out as much as possible about the place that you are considering calling home. The logical place to start asking questions is to your realtor. Whether you are moving from a distance away, out of state or even out of country you may want to try to find a realtor that specializes in the area that you are interested in. Realtors are a great source of information and usually they know more about a given area than just about anyone.
In finding out about a new area there are some definite things that you will want to find out about. Start by finding out about the area itself. Is is an industrial town? Tourism Based? What kind of atmosphere can you expect when moving there? The next things that you should consider are the employment market and the education system. It's always comforting to know what kind of job environment is in the area you are moving to. Is there room for your career to flourish? Additionally, even if you do not have children, knowing the education system is just a good idea. It is one of the things that people usually consider important in a new town, and if you have to move again; a home in a good education district will fetch a higher price.
Try to find out what the future hold for the area too. This can usually be accomplished by talking to your realtor, but also seeking info from the city itself. Find out if there are any development or expansion plans for the area. Things like proposed developments, both residential and commercial can drastically effect your property values. You will always be well served to stay cognizant of the future of any area that you move to. Keep in mind that potential developments and future plans can make or break an area, so the more info you have at the beginning the better.
http://www.realestateinvestmentarticles.net/Article/home-buying----Buying--Knowing-The-Area-/2735
In finding out about a new area there are some definite things that you will want to find out about. Start by finding out about the area itself. Is is an industrial town? Tourism Based? What kind of atmosphere can you expect when moving there? The next things that you should consider are the employment market and the education system. It's always comforting to know what kind of job environment is in the area you are moving to. Is there room for your career to flourish? Additionally, even if you do not have children, knowing the education system is just a good idea. It is one of the things that people usually consider important in a new town, and if you have to move again; a home in a good education district will fetch a higher price.
Try to find out what the future hold for the area too. This can usually be accomplished by talking to your realtor, but also seeking info from the city itself. Find out if there are any development or expansion plans for the area. Things like proposed developments, both residential and commercial can drastically effect your property values. You will always be well served to stay cognizant of the future of any area that you move to. Keep in mind that potential developments and future plans can make or break an area, so the more info you have at the beginning the better.
http://www.realestateinvestmentarticles.net/Article/home-buying----Buying--Knowing-The-Area-/2735
home buying - "Using a Lease Option To Buy A Home"
Many people shy away from owning a house for many reasons. They may include bad credit, self-employment, a low income, or lack of cash. If a mortgage from a lending institution is not in the horizon, a lease option is an excellent alternative. Short for "a lease with an option to buy", a lease option automatically grants you the right to purchase a property. Along the same token, it allows you to improve your credit score and present yourself better in the eyes of a mortgage lender.
Just as the name implies, a lease option is like signing off on two contracts: a lease contract and an option to buy. A lease is simply a rental agreement on the property that outlines all of the typical terms and conditions, like the rental rate and term. In a lease option, the option part allows you the right to buy the property someday down the road. In a typical lease option contract, terms include the purchase price on the property, the expiration date of the purchase option, and the percentage of rent that will go towards the price of the home every month.
Lease options are one of the best ways to assume ownership rights on a home. It allows for easier qualifying than a mortgage loan and works along the same level as renting. This type of property finance only requires that your credit and employment record be "normal." Unlike a mortgage lender, property owners will not scrutinize your credit record for a lease option. Secondly, the initial investment required to fit under a lease option agreement may be as low as one month's rent plus a security deposit. With a typical move-in, you cannot add your Plasma TV into the house unless you drop a $5000 down payment.
Third, lease options can allow you to improve your credit. With home ownership, credit reports must be in top shape to get the best mortgage terms. With lease options, you can scale back on spending and keep paying your debt until you are ready to take on a mortgage loan full-force in the future.
Fourth, lease optioned homes have a firm selling price. By negotiating wisely and exercising your option when the lease ends, your home's market value could soar, exceeding its option price. Appreciation may allow you to borrow nearly all of the money needed to close the sale. This especially rings true if you've tried to improve home equity via improvements.
Lastly, lease options literally force you to save for the down payment, assuming you take up on the option to buy. Lease options can apply up to 50 percent of your rent towards the down payment, with the amount being negotiable. Plus, after you have promised to buy the house, it should be ten times easier to make cuts on other spending and add more money towards the house pool. Lease options are an excellent choice for anyone looking for an easy way to finance a home.
http://www.realestateinvestmentarticles.net/Article/home-buying----Using-a-Lease-Option-To-Buy-A-Home-/2489
Just as the name implies, a lease option is like signing off on two contracts: a lease contract and an option to buy. A lease is simply a rental agreement on the property that outlines all of the typical terms and conditions, like the rental rate and term. In a lease option, the option part allows you the right to buy the property someday down the road. In a typical lease option contract, terms include the purchase price on the property, the expiration date of the purchase option, and the percentage of rent that will go towards the price of the home every month.
Lease options are one of the best ways to assume ownership rights on a home. It allows for easier qualifying than a mortgage loan and works along the same level as renting. This type of property finance only requires that your credit and employment record be "normal." Unlike a mortgage lender, property owners will not scrutinize your credit record for a lease option. Secondly, the initial investment required to fit under a lease option agreement may be as low as one month's rent plus a security deposit. With a typical move-in, you cannot add your Plasma TV into the house unless you drop a $5000 down payment.
Third, lease options can allow you to improve your credit. With home ownership, credit reports must be in top shape to get the best mortgage terms. With lease options, you can scale back on spending and keep paying your debt until you are ready to take on a mortgage loan full-force in the future.
Fourth, lease optioned homes have a firm selling price. By negotiating wisely and exercising your option when the lease ends, your home's market value could soar, exceeding its option price. Appreciation may allow you to borrow nearly all of the money needed to close the sale. This especially rings true if you've tried to improve home equity via improvements.
Lastly, lease options literally force you to save for the down payment, assuming you take up on the option to buy. Lease options can apply up to 50 percent of your rent towards the down payment, with the amount being negotiable. Plus, after you have promised to buy the house, it should be ten times easier to make cuts on other spending and add more money towards the house pool. Lease options are an excellent choice for anyone looking for an easy way to finance a home.
http://www.realestateinvestmentarticles.net/Article/home-buying----Using-a-Lease-Option-To-Buy-A-Home-/2489
home buying - "First Purchase: How to Stay Calm and Confident"
Not only are they scared about how their investment is going to turn out, they are learning practically everything there is to know about real estate investing through a hands-on, trial and error crash course. At any given moment, they are only one rookie mistake from failure and financial ruin. If that's not pressure, I don't know what is.
In any type of business venture, indecisiveness and bad timing can cost you a good chunk of your profits and the same is true when it comes to real estate investing. But it can be hard to make quick decisions or be confident that you are making the right choices if you have no experiences to draw from. This is where educating yourself plays a huge role. Read and learn all you can about investing before making your first purchase. Be familiar with all of the pitfalls and setbacks that can throw your project off course. Learn from other people's mistakes by letting their testimonials teach you what not to do.
A mentor can be an invaluable asset on your first investment purchase. It might even be a great idea to start out your path in real estate investing with a joint venture instead of trying to go it alone. An experienced business partner or mentor can help keep your project on track and prevent you from making miscalculations and mistakes that can cost you money.
Don't be afraid to ask questions if you are unsure about something. Remember; the only stupid question is the one that you didn't ask. Don't be embarrassed about not knowing the answers to questions that you think you should know. Chances are that the questions you have are the same questions that the pros had to learn the hard way when they started real estate investing.
When working on your first investment project, you should always look ahead. Try to spot potential snags and make corrections before they become a reality. If you do run into problems along the way, don't be too hard on yourself. Just brush yourself off and keep going remembering that all real estate investments have their particular hitches and glitches.
Don't dwell on the things that you cannot do anything about and let them take away your confidence and vision for the project. Focus instead on the issues that you can change. If you stay busy and keep working, you will find that you have little time for worry and becoming overwhelmed. Keep moving forward and your real estate investing dream will become a reality.
If there comes a time during your project that you feel completely overwhelmed, ask for help. There could be simple solutions to your problems and you're just too upset to see them clearly. Don't allow yourself to become frazzled. Take a deep breath, ask for support, and move forward
http://www.realestateinvestmentarticles.net/Article/home-buying----First-Purchase--How-to-Stay-Calm-and-Confident-/2486
In any type of business venture, indecisiveness and bad timing can cost you a good chunk of your profits and the same is true when it comes to real estate investing. But it can be hard to make quick decisions or be confident that you are making the right choices if you have no experiences to draw from. This is where educating yourself plays a huge role. Read and learn all you can about investing before making your first purchase. Be familiar with all of the pitfalls and setbacks that can throw your project off course. Learn from other people's mistakes by letting their testimonials teach you what not to do.
A mentor can be an invaluable asset on your first investment purchase. It might even be a great idea to start out your path in real estate investing with a joint venture instead of trying to go it alone. An experienced business partner or mentor can help keep your project on track and prevent you from making miscalculations and mistakes that can cost you money.
Don't be afraid to ask questions if you are unsure about something. Remember; the only stupid question is the one that you didn't ask. Don't be embarrassed about not knowing the answers to questions that you think you should know. Chances are that the questions you have are the same questions that the pros had to learn the hard way when they started real estate investing.
When working on your first investment project, you should always look ahead. Try to spot potential snags and make corrections before they become a reality. If you do run into problems along the way, don't be too hard on yourself. Just brush yourself off and keep going remembering that all real estate investments have their particular hitches and glitches.
Don't dwell on the things that you cannot do anything about and let them take away your confidence and vision for the project. Focus instead on the issues that you can change. If you stay busy and keep working, you will find that you have little time for worry and becoming overwhelmed. Keep moving forward and your real estate investing dream will become a reality.
If there comes a time during your project that you feel completely overwhelmed, ask for help. There could be simple solutions to your problems and you're just too upset to see them clearly. Don't allow yourself to become frazzled. Take a deep breath, ask for support, and move forward
http://www.realestateinvestmentarticles.net/Article/home-buying----First-Purchase--How-to-Stay-Calm-and-Confident-/2486
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