On your way to your new home

Buying your first home is one of the major milestones in one’s life; it can be very exciting at the same time it can be bit scary too. Just like any another first time, it is memorable and we have to make sure that it will be one of the best moments in your life.
Finally deciding to buy your first house is not something that you can just think of out of the blue. This decision needs planning and a lot of thinking, there is no turning back once you get into it so you have to make you that you are 101% ready and prepared.

Here are some things that may help in your preparation for your new home
Am I financially ready for it?

In buying your first house, it is not just the purchase price of the house that you need to pay off, there are a lot of other fees and charges that will arise throughout the transaction, better make sure you are ready for it.
Also save and prepare the Earnest Money Deposit and save for the down payment.
– Do you have enough cash for it, if not? How will you plan to pay the house, mortgage? are your credit ratings and debt-to-income numbers good. Once you get your mortgage approved, how much will it take on your monthly payable?
– Will you be the only one paying for it? Or you have a partner or spouse who will help?
– You may need to consider the utility bills that will come with your new house – electric, water, gas, cable and maintenance. All these will also go to your monthly payable.

Am I physically and emotionally ready?

– Having your own home will definitely change a lot in your life. You are on your own now; you set the house rules now at the same time you are responsible with everything that you need to do in the house. All the household chores, cleaning, designing, security and maintenance. And are you ready to wake up without the breakfast prepared by mommy or the car wash bonding time with daddy?

What are your plans?

– Do you want to live on the place or just buy it for investment?
– Do you see yourself living in that house in the next 5 to 10 years?
– Do you plan to have an additional member of the family in the next 2 years?

What do you want?

– Are you looking for a particular style of house or anything that catches your fancy during tours?
– Any preferred number of rooms/ baths?
– What type of neighborhood do you want?
– Do you want your place near a school, mall, church, etc.?

What do you know about the it?

– Do you know anything about the process of buying a house, or anything about the property itself? Don’t worry; all you need is good buyer’s agent who will help you throughout the process. Tell your agent what you are looking for, what are your plans, and your financial capacity. Your agent will be your guide from looking for your first house, drafting your offer, all the legal advice and leg work until the time that you already have the key to your new home.

Take time to think and answer all these questions. Just like in any action in our lives, those that are well planned, invested with time and effort will turn out to be the one of the best decisions and life changing moments in our lives.

Mortgage Your Way To Your New Home

 

 

 

Finally found that new dream home but can’t buy it, yet? Set your hopes up and get excited to finally buy a home you have been dreaming of. It is still possible through mortgage! Here are three things that you need to know to have that mortgage application approved.

 

Have a stable source of income

Stable employment, good source of income are the things that they will consider in checking your capacity to pay. Since lenders will be giving you the money to buy your new house, definitely they will make sure that you have the capability and the source to pay them month over month until it is fully paid. They have to ensure that it is worth their time and effort granting you the mortgage loan.

Have a good credit history and rating

Credit history or rating is a biggie in the United States. Lenders will definitely do their background checks and investigation about your financials. They will be able to see how are you paying your all bills, utilities, cards, everything. It is best to ensure that you always pay them on time. Make sure that you have no issues or bad record on your credit rating or history, this will help your application gets approved easily.

Have a good debt to income ratio

This is the percentage of a person’s monthly gross income that goes toward paying debts. Of course even if you have a stable source of income if almost all your monthly income goes to debt how can you handle another debt. Based on studies, 43% of debt to income ratio is important because it tells the lender that you have the ability to manage your payments and gives them the assurance that you can pay them month over month until you have paid the loan in full.

Just like what I have said, just secure these three and you will surely make the lender approve your mortgage loan for your way to your new home.

 

 

A day in the life of a real estate agent

Real estate agents have one of the most tiring and tedious job there is nowadays. Their main goal is to help people throughout the process of buying, selling and renting houses and other properties. They have a very long to-do list and action items. Daily tasks and responsibilities are not limited to, staying updated and current about the market, looking for potential leads, digital online marketing, schedules of open houses, closings, and such plus all the leg work and paper work that come with an ongoing transaction. It is interesting how they can juggle all these task day in and day out. Of course every day is unique and this is what can be typical day of a real estate agent.

First is getting yourself ready for the day by making yourself update about the market, news, locally and internationally.
Once you arrived at the office the administrative tasks begins. Checking and responding to emails, phone calls and voice messages. Updating social media sites and websites; coordinating appointments, meetings, events like open houses, showing etc. Managing and updating databases, listing, contacts. Monitoring paper works on going transactions, creating marketing and promotional materials like flyers, video tours, etc.
Aside from the administrative work, agents also need to be on the social tasks and activities. Meetings with the clients, potential clients, providing advises about the contracts, reviewing and scrutinizing legal documents to ensure that their clients will have smooth and hassle free transaction. The leg work to and from different individuals involved in the transaction like, lenders, home owner association, escrow, transaction coordinator, title company etc.  Also, doing a lot of site visits, tours, showings, joining in home inspections and final walk through.Over seeing the processes of every transaction you have may it be the plains real estate process, real estate owned process, Short sale and such from the start to the end of the transaction.

It is time consuming and really tedious job that some of the agents tend to look for people to assist them doing most of the administrative tasks like Virtual Assistants, In order for them to focus their time and effort more on the tasks and activities that may need then to be there personally like meeting with potential clients or leads, consultations with regards to contracts, contingencies, concessions, etc. They get to focus on the income generating tasks and the virtual assistant will be responsible with the paper work and other administrative task. It is a win-win solution for a real estate agent.It is indeed a challenging job but very fulfilling as well knowing that you get good pay while helping other people in the process.You meet a lot of people, hone your skills in data management, time management, marketing, sales, legal and business at the same time get a very rewarding return of investment. No wonder lot of people wants to be a very successful real estate agent.

Thank God for Agents

In the Real Estate process it is highly recommended to have an agent, may it be a buyer’s agent or a seller’s agent.
Are you interested in buying or selling a property? If you are I highly recommend to hire an agent who will be with you, through out the process.

Here’s my Top 3 reasons why you would want to hire an agent for your Real Estate transaction.

1. The agent is the one who will represent you through out the process, he will do all the leg work for you, going to the property, doing the marketing, different institutions, etc.

2. He will also take full responsiblity of the things needed to be paid though out the transaction, he will just reimburse it once the transaction it done.

3. He will be your guide and adviser when it comes to legal matters, laws and processes specially drafting, reviewing and approving contracts and other legal documents.

Going through the entire real estate process is tedious, it requires a lot of time and effort but with an agent, it will surely be a breezy.They are the ones who are fully equipped with knowledge, skills and resources to get you through the process and help you get a new home or a sale in no time and less effort from your end. You will really thank God for having one. 🙂