Tip 1

Many buyers call their lender seeking information about financing. In the process, they become pre-qualified. That gives them a good idea of what they can afford, or more accurately, what loan amount they qualify for.

You should take it one step further, however, and ask to be pre-approved. When you become pre-approved, you actually apply for a loan. The lender checks credit, verifies employment, and often verifies that you have sufficient funds to close. Then once you find your dream home, just about the only thing left is the appraisal.

The reason savvy buyers obtain loan approval before shopping for a home is that it strengthens their negotiating position when they make an offer. All sellers want to sell their home to a pre-approved buyer. Pre-approval can also cut days, even weeks, off the closing process.

Pre-approval can really help you to determine your price range, which helps you narrow your choices of homes to buy. You will already know how much you can afford before you even start looking.

Call me at (714) 612-6077 if you would like the name of a lender to pre-approve you for a loan, or if you have any questions about preapproval. I am happy to help.

Tip 2

Most lenders require you to pay a portion of your own funds--the down payment--toward the purchase of a home. Saving for a down payment can be one of the most challenging steps in buying a home.

Your down payment plus your pre-approved loan amount will determine how much home you can afford. A down payment can come from many places: savings, investments such as stocks and bonds, gifts from relatives, company bonuses, equity in other assets, and life insurance policies, to name a few. Then again, there may be home mortgage alternatives that do not require a down payment.

If you currently own a home, then you may want the equity you have built in that house to serve as the down payment on your next home. But how much is your current home worth? I would be happy to provide you with a market valuation so that you will know its current value.

With some basic information about your home, I can establish a list of comparable properties in your area as reported by the Multiple Listing Service (MLS). If you would like a more precise and thorough market evaluation, I can stop by for a quick view of your home.

Please call at (714) 612-6077 or email me if you are interested in a free market evaluation of your home or if you have any questions.

Tip 3

When is the right time to buy? People move into home ownership for a variety of reasons. Some want to become established in a community or to provide a more permanent home for their family. Many think that real estate is a good investment.

There are many advantages to home ownership:

* Appreciation --Your home can increase in value over time, increasing your equity and your personal net worth.

* Personalization --You can change or improve your home to suit your style and needs, such as painting or wallpapering, installing new flooring, or upgrading the bathrooms.

* Space --A house generally offers you more space inside and out than a rental apartment, along with the ability to remodel the existing space or add on.

* Enjoyment --Plain and simple, most homeowners take a great deal of pride in their homes.

When you are ready to purchase a home, I welcome the opportunity to help you. In the meantime, I will continue to send you valuable information about buying a home. Please don't hesitate to call at (714) 612-6077 or email me if I can answer any questions.

Tip 4

Buying a home is an important decision that can make an enormous difference in your lifestyle. It is also the biggest financial transaction you may make. There are some specific things to consider about a home to buy.

* Be realistic: There are no perfect homes. Decide what is important to you, and make sure you find a home that has the features you require. Be prepared to compromise on some of the items on your wish list.

* Decide on a price: Get pre-approved for a loan, not just prequalified. Consider not only the amount of the loan the lender will allow, but also what you feel comfortable spending every month. Take an honest look at your budget.

* Choose carefully: Buying a home is much more permanent than renting. Purchase a home that you are prepared to keep for a while. Select a home that will be reasonable to maintain, in both utilities and/or repairs.

* Build up to your dream home: Most people nowadays buy more than one home in their lifetime. The average turnaround time is seven years. Buy a home you can afford today. Start to build equity, and then you can trade up or even build your dream home.

Tip 5

When you are ready to purchase a home, I will negotiate on your behalf to help you get the best house your dollar can buy. I can act as a buffer to minimize the emotional elements so you can enjoy the process.

When you make an offer on a house, the seller can accept it, reject it, or counter it. If the offer is too low, the seller may reject it outright. Or the seller may counter the offer, naming a price or other specifications that are more in line with his or her expectations.

If a property is in strong demand, it may receive several offers. Then the seller may choose to accept the highest one or the one from the most qualified buyer.

Here are some tips to make sure your offer is accepted in any market:

* Be pre-approved by a lender, not just prequalified. This strengthens your position.

* Provide a substantial earnest money deposit. This is “good faith” money that shows the seller you are serious about the property.

* Limit your contingencies to those most important to you, such as financing, inspections, and the sale of your current home if necessary.

I'll be happy to answer any questions you might have about the property, the offer, negotiating, or the buying process. Part of my expertise is negotiating. I will work diligently to help you find and purchase your new home. Call at (714) 612-6077 or email me when you are ready.

Tip 6

Did you know that for most people, moving ranks near the top of the list of stressful events? Here are some things you can do to minimize stress when you are ready to make a move:

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* Choose a real estate agent who communicates clearly and frequently, keeping you up to speed on every step of the process.

* Consider how long it will take from the time you make an offer on a property until the transaction closes. Once an offer is received and accepted, it may take from 30 to 45 days to obtain financing. Being preapproved for a loan can shorten that time frame considerably.

* Decide whether you want to move yourself or have professional movers handle the job. If you hire a moving company, be sure to book well in advance.

* Think about cleaning services. After everything is packed and moved is a great time to have someone come in and clean.

* Arrange at least two weeks in advance to have utilities and phone service disconnected at your old house and reconnected in your new home on move-in day.

Please let me know if I can answer any questions or provide additional information. When you are ready to purchase a home, I welcome the opportunity to help you.

Tip 7

Here are the steps to close the sale once the purchase and sale agreement has been signed by both parties. Please know I will walk you through this step by step to make sure this is a smooth and enjoyable process.

Step 1 - Removing contingencies: The most common contingencies are financing and the sale of your current home. These conditions must be removed or waived before the sale on your new home can close.

Step 2 - Appraising the property: Your lender requires a formal appraisal to confirm the value of the home you’re buying, to be used as collateral to secure the loan.

Step 3 - Preparing closing documents: Most often real estate attorneys prepare documents that confirm the transaction, pro-rate funds, and so on.

Step 4 - Signing closing documents: Even after both parties have signed closing documents and deposited funds, the sale may take a few more days to close.

Step 5 - Recording the deed and disbursing funds.

Step 6 - Welcoming the moving van.

Step 7 - Receiving the keys from the seller.

There are many opportunities for surprises or delays in the transaction. Part of my expertise is troubleshooting problems that may arise. Please email or call me if you have any questions or you would like more information.

Tip 8

When you apply for a loan, your lender will look at several things:

Lenders nowadays place much emphasis on the credit report. Credit bureaus compile a record of debts from credit card companies, banks, department stores, and other firms. This information appears on your credit report, so it shows whether you pay your bills on time. Lenders develop credit ratings based on how well you manage this function. The higher your credit score, the more flexible lenders will be in loan approval and specific requirements.

When you meet with lenders, ask how they decide if you are a good credit risk. It is likely to be from a credit report. Lenders can order the credit report for you and discuss your score. If your credit is less than sterling, they can usually offer suggestions on how to strengthen your credit position.

Please feel free to call at (714) 612-6077 or email me if you have any questions or would like additional information on financing.

Tip 9

When you make an offer on a new home and it is accepted, one of two things usually happens:

1) Buyer's Remorse: You've made an offer. It was accepted. You've almost bought your dream home. Then, later that night, or the next day, you start worrying. Did I make a good decision? Can I afford it? What if this happens? What if that happens? Anxiety and stress set in. This is a very normal reaction. It is called buyer's remorse.

The best way to handle buyer's remorse is to take out a sheet of paper and draw a line down the center. On one side, list all the positive things about buying this home. On the other side, list all of the negatives. You will come to realize that buying this home is a really good decision. I will be with you step by step to help answer any questions and concerns.

2) Shopping Spree: Buyers are frequently so excited about the new home that they go out and order new furniture, appliances, window treatments, and sometimes even a new car! This can create havoc with your credit and debt ratios that lenders look at to approve your loan. Sometimes excessive purchases can cause the lender to reduce the amount of your loan, placing your home purchase at risk. Your best strategy is to postpone additional shopping until after closing. Once you have moved in and are settled, you can start thinking about all the amenities and extras to make the new house your home.

When you are ready to purchase a new home, I welcome the opportunity to help you. Please feel free to call at (714) 612-6077 or email me if you have any questions.

Tip 10

Some buyers love the idea of developing instant equity by fixing up a home and doing much of the work themselves. Others wouldn't dream of it and want new construction only. Your decision on the type of home to buy should be based on what your housing goals are, and if you have the time and money to put into fixing up a home.

Here are some things to consider:

I'll be happy to discuss your options and provide you with information to help you make an informed decision. Don't hesitate to call at (714) 612-6077 or email me if I can answer any questions.

Tip 11

Moving is an adjustment, whether you are moving across town or relocating across the country. Moving across town or to a new neighborhood may mean learning new routes to work, selecting a new dentist, and finding a new grocery store. It may also mean a change in schools if you have young children.

Moving across the country can be much more challenging. Relocation is rarely easy. But being prepared can help you make good decisions and ease the transition.

Here are some of the most common concerns:

* Spouse or significant other: Many relocating couples are concerned about finding work for the trailing spouse. Some companies offer career counseling and job placement.

* Children: Often children resent a move. Researching activities and getting the kids involved in the new community will help them make the adjustment. Some experts recommend moving mid–school year rather than waiting until summer. This may enable children to make friends faster.

* Costs: The cost of housing can be a shock to a transferee. Many companies have relocation packages that help with the closing costs and the cost of moving. This may be something to negotiate with your employer.

* Community: When relocating to a new city, people often try to replace what they left behind. Communities may have many amenities, but they may not be the same as you were used to.

Before you move, I can provide you with a relocation package for your destination city, which will have information about the weather, schools, lifestyles, and amenities.

These are just a few things to consider. Whether moving locally or nationally, I can provide you with the information you need to make your move a happy one.