Ten Tips for First-Time Homebuyers

Courtesy of Patti Duty, REALTOR® Ten Tips for First-Time Homebuyers Be picky, but don’t be unrealistic. There is no perfect home. Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you. Get your finances in order. Review your credit report and be sure you have enough money to cover your downpayment and your closing costs. Don’t wait to get a loan. Talk to a lender and get prequalified for a mortgage before you start looking. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion. Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you’ll buy as well as type of mortgage terms that suit you best. Don’t let yourself be house poor. If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals. Don’t be naïve. Insist on a home inspection and if possible get a warranty from the seller to cover defects within one year. Get help. Consider hiring a REALTOR® as a buyer’s representative. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. And often, buyer’s reps are paid out of the seller’s commission payment. Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved. GET MORE TIPS AT: www.WiseAgentOnDuty.com

Ten Questions to Ask A Home Inspector #realtor #realestate #home #inspection

Courtesy of Patti Duty, REALTOR® Ten Questions to Ask A Home Inspector What are your qualifications? Are you a member of the American Association of Home Inspectors? Do you have a current license? Inspectors are not required to be licensed in every state. How many inspections of properties such as this do you do each year? Do you have a list of past clients I can contact? Do you carry professional errors and omission insurance? May I have a copy of the policy? Do you provide any guarantees of your work? What specifically will the inspection cover? What type of report will I receive after the inspection? How long will the inspection take and how long will it take to receive the report? How much will the inspection cost? Portions adapted from Real Estate Checklists and Systems and used with permission. (www.realestatechecklists.com) Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved. GET MORE TIPS AT: www.WiseAgentOnDuty.com

Ten Tips for First-Time Homebuyers

Courtesy of Patti Duty, REALTOR® Ten Tips for First-Time Homebuyers Be picky, but don’t be unrealistic. There is no perfect home. Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you. Get your finances in order. Review your credit report and be sure you have enough money to cover your downpayment and your closing costs. Don’t wait to get a loan. Talk to a lender and get prequalified for a mortgage before you start looking. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion. Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you’ll buy as well as type of mortgage terms that suit you best. Don’t let yourself be house poor. If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals. Don’t be naïve. Insist on a home inspection and if possible get a warranty from the seller to cover defects within one year. Get help. Consider hiring a REALTOR® as a buyer’s representative. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. And often, buyer’s reps are paid out of the seller’s commission payment. Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved. GET MORE TIPS AT: www.WiseAgentOnDuty.com

Ten Things to Take the Trauma Out of Home Buying

Courtesy of Patti Duty, REALTOR®

Ten Things to Take the Trauma Out of Home Buying

1. Find a real estate agent that’s simpatico. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the agent you chose is both skilled and a good fit with your personality.
2. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.
3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.
4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.
5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.
6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself—room size, kitchen—that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home.
7. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.
9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.
10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is as a comfortable, safe place to live.

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved.

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Selling? What is Appraised Value? #tax RealEstate #Realtor

Courtesy of Patti Duty, REALTOR®

What is Appraised Value?

It’s an objective opinion of value, but it’s not an exact science so appraisals may differ.

For buying and selling purposes, appraisals are usually based on market value—what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes. Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value.

Appraised value doesn’t consider special considerations, like the need to sell rapidly.

Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.

Used with permission from Kim Daugherty, Real Estate Checklists and Systems, www.realestatechecklists.com
Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved.

 

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www.WiseAgentOnDuty.com

Beautiful Large Home on Huge Fenced Corner Lot Decatur Schools ISD Texas

Bring the whole family to this Large,

Beautiful 2500+ square feet Home on almost Half Acre Corner Lot!

 

Fenced Back Yard, Great, Family Neighborhood, Wide Streets, Great area for riding bikes. 4 Bedrooms with extra Room off the Master Suite, or have one of the bedrooms for a Study or In Home Office with 3 Bedrooms and extra Room off Master Suite. 2 WBFP, 2 Living Areas, 3 Baths. All new Carpet and Paint. New Entire Kitchen including Cabinets with no slam doors and drawers, Counter Tops, Stainless Steel Name Brand Appliances, Stainless Steel Large Sink, New Fixtures.  All New Walk in Shower in Master Suite. Lots of Closets and plenty of storage space! 2 Sets of French Doors with Built in Blinds leading to Large Back yard and Deck or covered Patio. Great for enjoying the peace and quite. Also would make a great area for entertaining and/or family BBQ or Picnics. Enough room and privacy to add a large pool and still have plenty of yard left. This is a must see!

Contact me for more details.

Patti Duty ...

... the Wise Agent On Duty for you!



www.WiseAgentOnDuty.com      (940)577-2733