Buyers

Buying in today’s market takes patience, knowledge and some understanding.  I often tell my buyers (first-timers or not) that the market can be bumpy road.  We are dealing with different types of sellers; whether it’s a bank, builder, or a homeowner.  The purchase agreement we present has been carefully crafted to maximize the interests of you, the buyer.

 

Buying Your Home

Buying a home is a nerve-racking endeavor.  Today, the lenders we will be working with need a lot of personal information from you.  So, I recommend that we start working with a lender from the start to make sure we are ready.  This will save a lot of hassle down the road. Once we’ve got the lending out of the way, we start our search.  Right now, inventory is low in several areas.  Meaning, we are seeing as little as 3-months of inventory in the market in some communities.  When a great property comes on the market, believe it or not, we may be competing.  Therefore, we’ve got to be ready.

Our job is to help you navigate through the purchase process.  We will take a tour of possible homes (after looking online) and outline the pros’ and cons’.  This is your ship, so we steer it anyway you want it to go.  The home you are going to purchase, you have to love it!  You will be the one driving into the driveway each day, and when you do that, you want to feel good.  If we only look at 4 homes and you find the one…great!  If we need to look a several, that’s okay too.  This is your deal.  I’m here to help!!

As we settle on the home, we then work our magic and create a solid purchase agreement.  As mentioned earlier, we are dealing with several types of seller’s in today’s market.  The rules of engagement are different depending on the seller.  I’ve worked with almost every type of seller and will advise you accordingly.  Don’t worry, you’re in good hands!  I am an experienced negotiator and your interests are at the top of my list.  I take time going over the contract so you fully understand what we are doing.  As always, the ongoing communication between all parties is vital…it’s my job to keep the communication flowing.

Lending

Today, there are several options for financing.  FHA, VA & Conventional to name a few.  But, there are also several 100% financing programs still available to qualified buyers.  We offer information on all of them as well as conduct a one-on-one consultation on the available programs and see which program would be the right fit.  I work with a team of reliable, honest and hard-working lenders.   Depending on the type of loan we are seeking and what your financial goals are, we can make sure you get lined up with the right lender.  In today’s market, it’s vital you have a good “Real Estate” team to help through this process.

Why Buy?

Let’s face it, the “warm fuzzies” of buying a home may not be there with buyers as they were in the past.  Some feel that owning a home is a liability.  While that may be true in some cases, those cases are rare.  Mostly, buyer’s today are savy and are very conservative.   So, if your on the fence about buying, here are 6 reasons why you should buy:

  1. Pride in Ownership – What more could be said about owning your own home.  Pride of ownership is the #1 reason why people buy.  It’s YOUR home.  Paint the walls whatever color you choose, add a garden, attach a permanent fixture…whatever you choose. It’s YOUR home.  Further, studies prove that Home Ownership gives families a sense of stability & security.  You are making an investment in your future. 
  2. Appreciation –  With the housing bust, it’s true..you may not see the 20% return on investment in 1-year as you did during the boom. But what investment gives you that?  On a average, even during these low times, homeowners see an average of 2%-3% per year of appreciation.  Now, if you purchase during the boom, of course you’re not seeing that now 5-years later. But remember…you purchased at the height of an over inflated market.  When we look at homeowners who owned homes for the last 10-years, even with the lull of the market, they saw an average 2-3% appreciation per year – STILL!
  3. Mortgage Interest Deduction –  Thanks to Uncle Sam, in some cases your Mortgage Interest is fully deductible on your annual taxes.  Can’t write off your rent fees, can you now?
  4. Property Tax Deduction – Property Taxes paid on your 1st or “vacation” home are full deductible.  Again, can’t do that if you rent!
  5. Capital Gain Exclusion – As long as you own your home for 2 of the last 5-years, you can exclude of to $250,000 for individuals or up to $500,000.00 if married for profit on the sale of your home.  You keep all the profit!
  6. Mortgage Rates are CHEAP.  Really, I’ve seen as low as 3.25%!  Regardless, today’s rates are so HOT giving you power to buy more home.  Believe it or not, recently I had a client who was renting a Townhome for $1,300 per month for 1,100 sq. ft. place.   They now own their own home (1,700 sq. ft.) and are paying around $950.00 per month (this is with PITI). 

Sooner or later, the market will clear.  We are already seeing signs of stabilization here locally.  The demand is going up for homes, the inventory is shrinking right now and the interest rates are low.  We will see a high demand and possibly higher interest rates at some point in the future.  So, yes…now really is a good time to buy!