Avoid the 10 most common buyer mistakes

Buying a home can be an overwhelming experience. You may encounter a roller coaster of emotions while searching for the right house to call home. For most of us, a home purchase is the biggest investment we will ever make. The emotions associated with purchasing a home can often cloud your judgment. Don 't worry! It will all work out.
Most people who purchase a home do not do much research before their purchase if they do any research at all. Doesn't it make sense to make your choice after first being informed? But where do you get all the information you need? Do not worry this little guide will help you avoid making the 10 most common and crucial mistakes.
1. Inspect, Inspect, Inspect- Although a home inspection is optional and typically paid for by the buyer, this money could be the most important $200-$400 you will ever spend! Order a home inspection by a professional. Go over the report thoroughly. Review the restrictions (CC&R's), By-Laws, and Association Fees with your agent if you are buying an an HOA. Be comfortable that you can live with any rules and regulations placed on the property.
2.Imagine the Property Vacant-Your furnishing will be the ones filling this new home. Don't let current beautiful features, furniture or disliked features or furniture sway your decision to buy the home or not, they will leave with the owner. You can always decorate how you like.
3.Income+Lifestyle=Mortgage Payment- Sit down with your lender and Realtor and honestly discuss your income level and living expenses. Take into account future considerations, children, add-ons, amenities, fix-ups and hobbies.
4.View Several Homes-See at least 5-10 properties with your Realtor. Don't move too slowly but don't move on the first property you see. With your Realtor's help you should be able to view enough properties to get a good overall perspective of the market. When you find the right home for you all the legwork will be worth it.
5.Utilize Your Team-By aligning yourself with the right Realtor you will have an entire team at your disposal. Utilize your lender, title rep and Realtor. They are all working hand in hand for your benefit. Explore all your options.
6.Be Colombo- Check out all the costs and expenses before your 10 day inspection period is up. Utilities, taxes, insurance, maintenance and homeowner association dues if applicable. Inspect everything in working order. ASK LOTS OF QUESTIONS.
7.Do a Final Walk Through-Visit the property before closing to make sure there are no surprises. Be sure the property was in the same condition as when you wrote the contract.
8.Plan for Flexibility-Closing dates are not written in stone. Allow for flexibility and have a backup plan. If you or the sellers need a little more time to conclude the final arrangements, don't let these delays upset or frustrate you. These types of circumstances are not uncommon in real estate transactions.
9.If it is not in Writing, It Doesn't Exist-All promises and discussions must be in writing! Don't make any assumptions or believe any assurances. Even the best intentions can be misinterpreted. A good Realtor will keep an ongoing log in writing of all discussions that must obtain seller written approval.
10.Loyalty Breeds Loyalty-Be open, honest and up front with your team. Hard feelings and disloyalty will cause headaches, delays or may even keep you from getting into the home you worked so hard to find. Take the time to select the right team in the beginning and your home purchase will be a pleasing and memorable experience.
OUR TEAM looks forward to helping you find the right house to call HOME!

Historic Home Hype?

I have always taken an interest in historic homes, the romance, character and ambiance are just some of these homes attributes. It amazes me the difference in style, care and build of these late 1800's early 1900's homes compared to those cookie cutter homes of the 90's and 2000's.
Take downtown Mesa as an example. They just recently hosted a historic home tour a few weekends ago where homes were featured that were once owned by prominent local business people. There is definitely a specific group of people who love, value and dream to live in these homes. My husband and I took part in remodeling a home owned once by his late grandparents a few years back off of Pasadena close to the Mesa Library. We were able to restore the paint to an original craftsman era bungalow color, we updated the porch, polished and repaired the original hardwood floors, re-plastered the home, remodeled the bathroom and much more. The home needed a lot of work but we loved and enjoyed the challenge and the end results not only proved positive and enriching but made for a great resale home as well.
The new owners have continued to add value to the home and restore it's beauty. Owning and restoring homes in these historic districts may be subject to rules and regulations on what can and cannot be done, make sure if you are in the market that you check with the local historic district to make sure the plans you may have for a house can be done before you take the plunge. If you are interested in finding out what is available to you in these areas, please give us a call. We would be happy to help you find a home that fits your specific needs and interests.

Home Buyer Tax Credit

First time and move up buyers are rapidly entering the market to take advantage of the home buyer tax credit. This credit has now been extended to the end of April for an accepted contract and the end of June to close on the property. Across the country over the last 9 months home sales have risen. Buyers are seeing affordable home prices and historically low interest rates. The tax credit extension is now including qualified move up buyers, opening a door for potential home buyers. This stimulus bill may not be extended again, so if you or someone you know is looking to take advantage of this opportunity, please visit www.federalhousingtaxcredit.com
for frequently asked questions. Call us for your free home buyer analysis and remember when buying a home from us it is a free service to you- take advantage of allowing us to be on your side of the transaction.

Why Use a Realtor?

Well it is the new year and we are trekking along to provide you with the most efficient service in the year 2010!

So, I have had people ask me what the purpose of using a Realtor is... why can't I (buyer) just find a house myself?

Well, whether you are a first time home buyer or a seasoned pro you may ask yourself this question. With the ease of use of the Internet and so many houses to choose from with the click of a button, trying to find a home on the Internet may not be as easy as you think.
All Realtor sites will show you homes that have not yet closed escrow, but only the Realtor can see the difference of which homes are actively available and which are currently in escrow with contracts on them. It can be as frustrating as driving around from subdivision to subdivision writing down house addresses and calling on properties that are either not in your criteria or already under contract, which can prove to be a huge waste of your time, which in this day and age, time is valuable.
Having a good Realtor takes a lot of time out of your search, not to mention alleviates your frustrations. If you are calling on all the properties on your own you will be calling 10+ agents, to view 10+ homes at 10+ different times, your agent will be able to answer your questions and schedule showings so that you can view the properties you choose at one time.
You may have questions regarding whether the home you are seeing is a short sale or foreclosure, how many offers it has or has had, what the highest offer refused was, what the current market value is,the subdivision trends, and what these circumstances mean to you.
The Realtor who listed the home for sale works for the seller they have to treat you the buyer honestly and fairly but they have the seller's best interest in mind. Wouldn't it put your mind at ease to know you have someone as equally concerned about your needs?
What happens if the home inspector finds numerous repairs? Are you comfortable enough to decide what does or doesn't need to be fixed right away- will you know what to ask for as a reasonable repair, what if the property is being sold as-is, not to mention all the paperwork and forms, bank addendums can be the size of a small book sometimes- in the state of Arizona an attorney is not used like in other states, wouldn't you like someone who knows how to decipher these forms to make sure you are getting the deal you deserve?
There is so much more involved then just finding the right house when it comes to buying a home. Wouldn't you want someone on your side to make sure you are getting the best deal for the best possible terms for you? We work for YOU- the buyer and best of all it is FREE, so what do you have to loose?
Call us for a free home buyer analysis today!