Maybe it is an obvious statement but there are some definite steps that will improve your success in buying a home in today’s market.
1. Know you credit score – the best mortgage rates are available to borrowers with the highest scores. Unless you know what your credit score is at all three major bureaus, you don’t really know what rate you’ll have to pay.
2. Clean up your credit – it is estimated that about 90% of credit reports have errors. Some are not serious but others could affect a borrower from getting the best loan terms. It is your responsibility to know what is on your different reports and correct them if possible. You’re entitled to a free copy of your credit report each year from Experian, Trans Union and Equifax.
3. Get pre-approved – Taking the time to make a loan application with a qualified lender even before you start looking at homes will provide peace of mind, make sure that you are looking at the “right” homes and may help you negotiate the best price on the home you select.
4. Do your homework – when you find the home that meets your needs and desires, research the tax assessments, school ratings, crime activity, possible zoning changes and comparable sales in the area.
As your real estate professional I can definitely help you with these important strategies to invest in a home to call your own, raise your family, feel safe and secure and share with your friends. Call for a recommendation of a trusted mortgage professional; there really is a difference.
During the cold months of the year fires are on the rise due to the increase in the use of heaters & fireplaces. Please take precautions to keep your loved ones safe this winter! Check to make sure that the smoke detectors in your home are operational. Keep a list of emergency phone numbers and develop an escape plan to prevent a tragedy.
Check out this cool video the Greater Omaha Chamber made about our city!
Tips on How To Prepare Your Home for Holiday Guests
Is your home ready for holiday visits from friends and family? Here’s how to prepare for the invasion. Read
Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®
I have had many sellers inquiring about short sales recently because they are upside down on their mortgage. I believe a short sale is a great way to resolve an unfortunate situation but do you know that the government has went to great lengths to help homeowners avoid short sales and foreclosures? The program is called “Making Home Affordable“. I read an article yesterday which stated that this program has not been used by nearly the number of people that they had predicted. So, if you are struggling to make your payments or have already missed a payment you may be able to take adavantage of Making Home Affordale and stay in your home. By going to the website you can explore your eligibilty and get help. If the Making Home Affordable program is not an option for you, please call me to discuss the sale of your home!
With the exception of a mortgage payment, the largest homeowner expense is utilities; and energy is the major component. There are lots of contributing factors such as air leaks, insulation, heating and cooling equipment, water heaters and lighting.
It’s estimated that 75% of the electricity to power home electronics is consumed when the products are turned off. Computers, monitors, TVs, cable and satellite boxes, DVRs and power adaptors are spinning your electric meter even when they’re not being used.
Unplugging devices can actually make a difference in the size of your electric bill. Plugging several of these offenders into a power strip with a single on/off switch may make the task easier. Most computers have options to put them into sleep mode or even turn off when not in use.
Take 3 1/2 minutes and watch Energy 101. Consider hiring a professional home energy auditor or do-it-yourself. The Department of Energy has a checklist with some valuable suggestions
Come check out the latest building innovations and design trends at the 2011 Street of Dreams. Tuscan Ridge is located just South of 198th and Pacific. Gone are the days of bigger is better, today’s buyers are trending towards smaller more luxurious homes which offer exquisite details and quality making these dream homes within reach! Check out the first ever bistro tent, live music on Sunday afternoons, spotlight tours and plenty of special events listed below. To purchase tickets or for more information click on this link http://streetofdreams.eventbrite.com.
Live Music 1-4pm – Chris Saub
Ladies Day Out – Enjoy design tours, wine tastings, prize drawings and more! Sponsored by Nebraska Furniture Mart.
Specialty Mini-Tours – Tour kitchens, talk to builders and learn from experts about “green” living.
Bid Red Day – Get autographs from former Huskers, watch game coverage and don’t forget to wear red!
Live Music from 1-4pm – Erik Richards Jazz Ensemble
Make a Wish Day – Come out to support Make a Wish and learn more about this unique organization.
Live Music from 1-4pm – Pat O’Hanlon
Uncertainty as to whether prices will continue to fall has to be one of the most common causes of buyer procrastination. Paying too much wouldn’t be a smart thing but price isn’t the only factor to consider. Interest rates have as much effect on housing costs as price.
A small increase in mortgage interest rates can offset a significant drop in home prices. If the price of the home were to come down by 5% but the interest rates were to go up by .5%, the payments might be close to the same.
In the example below, if the price of $175,000 home went down 5% but the interest rate went from 4.75% to 5.25%, the payments would actually be $4.98 more at the cheaper price. If while the buyer was waiting for the home to decrease 5% and the interest rate increased by 1%, the payments would actually go up by $55.30.
Then, of course, there is always the possiblility that the price of the home doesn’t go down but the rate does go up by 1%. The payments would be $104.58 more per month, each and every month for as long as you have the mortgage on the home.
Since we can not say with certainty when interest rates will rise again there no time like the present to build or purchase a new home! As a Residential Finance Consultant, I can provide solid information that will help you make better buying decisions. A home is a place to feel safe and secure, to raise your family, share with your friends and an investment. It’s an investment in your marriage, your family and your future. You owe it to yourself to check out the real numbers in your market because every market is different.
If you plan to purchase a home with another person make sure you understand the difference between joint tenancy and tenants in common before the deed is prepared. How you wish to take title in your new home should always be noted on the deed. In instances where the tenancy is not noted, the court will assume tenancy in common should anything happen to either party. This is something you should discuss with your agent when writing an offer.
What is the difference between joint tenancy and tenants in common?
Joint tenancy is used when the parties purchasing the real estate wish for the other party to have total ownership in case one of the parties in title should die. This means that the other party (or parties) have ownership of the property. In the case of a husband and wife, this would mean that the surviving spouse would be free to sell the real estate without having a probate of the estate done. The only requirement would be that a death certificate be filed against the property. In all other joint tenancy situations (brothers, sisters, parents and children, etc.), a probate would be necessary on the deceased. Joint tenancy is the most common way for people who are related to one another to take title.
Tenants in common would denote that each party in title has an individual share of the property and is entitled to their share of the proceeds proportionate to their interests. Should one of the parties die, an estate would have to be opened, a personal respresentative appointed, and then the PR would take over the interest of the deceased. In situations where a husband and wife wish to be tenants in common, it is usually because they have children from a previous marriage who will inherit their share of the property in question. Another common instance using this type of tenancy would be individuals who are not related taking title to a property (usually investors).