Buyers; Benefits of Home Ownership

  • Credit: Owning a home helps you establish financial credibility.
  • Independence: Owning your own home provides you with independence and more privacy than renting. You are free to paint walls, plant flowers, keep pets and anything else within legal bounds.
  • Investment: As you make more payments and own more of your home, you add to its investment value. Most improvements you make will also add to its value.
  • Pride: A home reflects its owner's values and lifestyle. Owning a home can provide you with a source of pride, enjoyment and satisfaction.
  • Security: A home can provide security against inflation because the value of your home increases as prices go up.
  • Stability: Being established in a community provides a sense of belonging, stability and security.
  • Tax Advantages: Interest on your mortgage loan is deductible on your yearly personal income tax return. Many of the closing costs associated with purchasing your home are deductible, as are your property taxes.

Finding the Right Home

Our Agents
   We would love to have you sit down with one of our Real Estate Agents and discuss your needs. Some things they may ask might be; Area where you want to live, Style of home you want to live in, Amenities and things you may want in your home. Our agents can help you by accessing a Listing Service which covers properties listed for sale within a specific area. Together, you can select the homes you would like to see, set appointments and preview homes in a short period of time. Our agents can guide you through the entire process start to finish.
   Many people go through the Internet to find a home that appeals to them. However, your real estate agent will have many listings available to them that may not appear online just yet or on a continuous basis. New listings come on the market daily and Realtors get first access through the Multiple Listing Service.
If your Realtor does not have access to the multiple listing service available in your area, fire them today and call us!

Some things to remember when house hunting:

1. Have Fun- this is supposed to be a great time, enjoy it.

2. Relax- Finding your new home can be a rewarding experience.

3. Be open and honest with your Agent. They can't help if they don't know. 

Also, make sure all Systems are in working condition while your in the home to avoid surprises at Inspection time. You can look for;
Exterior damage
Brick bulging or cracking
Shingles missing or broken
Siding rotted or missing
Gutters damaged or need to be cleaned
Concrete cracked in sidewalks/driveway
Basement leaks
Cracks in foundation
Poor ventilation

Sub-flooring damaged or loose
Cracked walls or ceiling
Cracked tiles
Loose plaster
Flooring damaged
Soft, springy floors
Water stains near windows
Water stains on ceiling below bathroom
Water stains in attic
Pipe insulation missing

Home Inspections
What is an inspection?
There are numerous types of inspections. An inspection is meant to evaluate, at a minimum, the structural and mechanical condition of a property. It is not the same as an appraisal which evaluates the market value of a property. Persons involved in Real Estate transactions need unbiased information about the physical condition of a property they plan to buy or sell and your contract should include a contingency that you obtain a satisfactory inspection report. Talk with your agent about the types of inspections available.

Home Inspectors vs. Engineers
Home Inspector: A person who examines any component of a building, through visual means and through normal user controls, without the use of mathematical sciences.

Engineer: Analysis or design work requiring extensive preparation and experience in the use of mathematics, physics, chemistry and the engineering sciences.

***Ask if she/he is a member of the American Society of Home Inspectors (ASH I). The ASHI has established standards of practice which include the specific services, limitations and exclusions that can be expected from private home inspectors.

Every inspection should include, but not be limited to, an evaluation of at least the following:
Plumbing and electrical systems
Ceiling, walls and floors
Hazardous materials concerns
Heating and air conditioning systems
Common areas (in condominiums)
Frequently Asked Questions for Buyers;

What is the difference between "pre-qualified" and "pre-approved"?

If you are "pre-qualified" you have determined, with a loan officer, what price you can afford based on the down payment, your debts and the amount the mortgage company will approve for your mortgage and you should have a letter to this effect. GIVE THAT LETTER TO YOUR AGENT!!!

Being "pre-qualified" is only a determination of your probable credit.

What are closing costs?
Closing costs are an accumulation of charges paid to different entities associated with the buying and selling of real estate. For buyers, they are usually about 4-6% of the total sales price of a property.

What are some of the closing costs I might encounter?
Application fees, Appraisal fees, County, State, local taxes, credit report, discount points, documentation fees, escrow fees, homeowners' association fees, loan fees, mortgage insurance, origination fees, tax registration and title insurance premium just to name a few.
What is a point?
One point is generally equal to 1% of the new loan amount. By charging "points", the lender can bring the Real Estate loan up to meet
other investments.
What is earnest money and how much do I need?
When you make an offer, you will need to put up an earnest money deposit as a sign of good faith that you are seriously interested in buying a home. That deposit becomes a part of the purchase price and is held in a trust account until there is full acceptance of the offer. Typically, an earnest money deposit can range from 3%-10% of the offer amount.
What is title insurance and do I need it?
Title insurance protects the insured against loss because of defects, liens, encumbrances, adverse claims or other matters not shown or disclosed to the new owner that attach before date of policy. We always recommend getting Title Insurance.

Professional Asset Management and Real Estate Sales Firm