Are .you .R E A D Y .and .A B L E. to .B U Y ?

( Especially at today's prices! )

Assuming you have the financial resources and the desire to eventually own your own home, there are very few good reasons to put off the purchase. You can miss out on years of appreciation if you do.

The main thing you want to avoid when buying a home is being put in a position where you will have to sell it too soon. If you have to sell a home before it has appreciated enough to cover the costs and commissions of selling, you could find yourself in a financial bind. This is especially true for those who buy a home with a down payment of ten percent or less.

The Best Investment. Presumably, if you bought a $200,000 condo, you did not pay cash for the home. You got a mortgage. Suppose you put as much as twenty percent down – that would be an investment of $40,000. At an appreciation rate of 5% annually, a $200,000 home would increase in value $10,000 during the first year. That means you earned $10,000 with an investment of $40,000. Your annual "return on investment" would be a whopping twenty-five percent. Since the interest on your mortgage and your property taxes are both tax deductible, the government is essentially subsidizing your home purchase. Your rate of return when buying a home is higher than most any other investment you could make.

Why you should NOT wait. The business cycle can change over time. Since 1983, we have had two fairly long expansions with only a slight recession in between each. You would not want to wait nine years to buy a home, would you? You could miss out on a substantial amount of appreciation by waiting, and end up paying much higher prices.

The process of buying a home can be complex and time consuming. Expect to take these steps during the buying process: 

B U Y E R... R E P R E S E N T A T I O N

The seller's side is represented by the listing agent.  The buyer's side is represented by the buyer's agent. If you call on a single classified advertisement in a newspaper, an ad in one of those home selling magazines, or a listing on the internet, you are most likely calling the listing agent. If you are buying a home who do you want on your side? By signing a Buyer Agency Agreement, I am legally bound to work in your best interest, including strategies of negotiation and making offers on properties. Please click here for more information on Buyer Agent representation. yer Representation: [click here]

T H E.. M O R T G A G E...
P R E - Q U A L I F Y I N G... V E R S U S... P R E - A P P R O V A L

Before searching, meet with a mortgage consultant and start the application process.

– Pre-qualification provides an understanding of how much you can afford, helping to determine the price range of homes to look for.

– Pre-approval checks specific financial criteria, telling you what you can afford, and makes you more attractive to sellers. This is the position of strength you want to negotiate from. A pre-approval letter is often mandatory when making an offer.

Mortgage Calculator

H O M E... S E A R C H

As you share with me the characteristics you wish to have in your new home, properties listed in the Multiple Listing Service will be researched and made available for your review. You can also take advantage of reviewing listings over the convenience of email. Click here to get listing sheet log on information and simply fill in some basic criteria of your new home. I'll "fine tune" the criteria to maximize the homes to review. After selecting homes you wish to see, I will arrange a showing. The search will continue until you find the home that's for you.

M A K I N G... A N ... O F F E R

Once you've selected a home, a price will be determined and an offer negotiated. In a soft market where home sales are slow, you may be able to structure an offer with terms very favorable to you. However, if homes are selling briskly, you may need to make your offer more compelling for the seller.

– If you have signed a Buyer Agency Agreement, I can provide you with a Comparative Market Analysis which analyzes sales of similar homes in the area. This will help determine the price of the offer.

– Once an offer is accepted and contracts are signed, you'll need to pay a deposit to hold the property until closing.

I N S P E C T I O N S

I will provide details of property inspection(s) that are required by you, your lender, and the state.

C L O S I N G

Once financing has been arranged, inspections completed, terms of the Purchase and Sales Agreement fulfilled, and home insurance obtained, the closing will take place. I will be present at your closing. Once it's finished, you can move right in!