First Time Home BuyersMortgage Insurance February 24, 2015

How Lower Mortgage Insurance Effects YOU!

I have had quite a few questions lately on how the changes made in January to lower mortgage insurance actually effect your buying power (the amount you are approved for through a bank to purchase a home).

Example:  In January if you were pre approved for $205,000 and have done nothing to improve/lower your credit score, your buying power is now $220,000.  That is a $15,000 difference, and you didn't have to do anything. Pretty Aweome!  If you have been house shopping online via redfin, zillow, or windermere, you know that $15,000 makes a substantial difference in the houses you are looking at.  

Please contact me if you have any questions or would like to know more about the hows/whys and see how your buying power has changed since January.  I am happy to help!

Cheers!

 

First Time Home Buyers January 14, 2015

How to Make an Offer on a Home

 

You found your dream home and are ready to make an offer – now what!?

 

DON'T OVER THINK IT! If you love the house and have been looking for a while, make the offer, don't wait.  Here is why: Would you be mad at yourself if you missed this opportunity to purchase this home? If the answer is Yes, then make the offer.  I was helping a couple try and purchase a condo for a couple months, they finally found one they liked in their price range and they wanted to sleep on making an offer over night.  Again this is after months of looking for something.  The next morning we went to make an offer and someone else had already made a full price cash offer, that same morning! The sellers had accepted the cash offer.  That was about 2 months ago, they have still not found something in their price range that will accept their loan program.  

The real estate market is a tricky thing, sometimes there are lots of options to chose from and sometimes there are not. We also cannot predict the future, we don't know if another party will come in and make an offer today or tomorrow on the same home regardless of how long the home has been sitting on the market. 

You have a couple days after making the offer to essentially change your mind (obviously don't go around making offers for fun, you are playing with peoples financial lives, professions and emotions here). But if you would be mad at yourself for missing the opportunity, lock it up, make the offer and be one step closer to owning the home you love. 

 

CALCULATE what your mortgage will be for the home.  Have your real estate professional to do this, to make sure the mortgage will be within the budget you have set.  Online, click here for a quick mortgage calculator.

 

COMPARE similar homes in the area to the home you love, make sure you feel comfortable with your offer price, your real estate professional will help supply comparison properties

 

TRUST your real estate professional and yourself.  It's important to work with someone you trust so you know they truly have your best interest at heart. Also trust yourself, If you feel that you have found the right place for yourself and your family (or potential family) act on it.  If you feel it is not the right house for you, wait.

 

GET EXCITED!  This is a big step! You are ready to move into home ownership, no more renting and paying someone else's mortgage, making someone else's dreams come true.  Feed your own.  Make your own dreams come true.  Invest in your financial future!

 

If you have any questions on making an offer or feel you are ready to start your home search for your first home or any home.  Please contact me, I am happy to help point you in the right direction! 

Cheers!

Aimee Slesk

AimeeS@windermere.com

 

First Time Home Buyers September 5, 2014

First Time Home Buyer Basics

Hello First Time Buyers!

Blogging today about the amaizing experience of purchasing your first home.  This can be one of the most exciting times in your life and also one of the most challenging and confusing.  It is my job as your broker to walk you through and counsel you throughout the processs step by step. 

Step 1 – Find an excellent realtor you feel comfortable with.  This is a relationship I like to compare to that of a dating relationship i.e. you are 'going steady' with the realtor of your choice.  

Step 2 – If you have not already done so get preapproved through a lender to find out the amount you are able to use for the purchase of your home.  

Step 3 – Shop for a home! Narrow down a location you love first.  This will be the most important aspect of the property you buy.  Then pick a home nearby or in the location of your choice.  

Step 4– preview the property(ies) with your realtor and pick one the best fits you and your family.  

Step 5 – Make an offer! 

Step 6 – Sit back and let your realtor/broker work hard on the contract and next steps of the home buying process. 

Steps 1 & 2 can be interchangable but if you are not familiar with a good lender, I can help point you in the right direction.  Some lenders have excellent programs for first time home buyers where you actually get cash back on your tax return and can purchase a home without putting any money down upfront!  I hope this helps you along the way in your home buying process.  Please contact me if you would like to get the process started!  

Best regards,

Aimee Slesk

AimeeS@windermere.com

Phone: 360-319-8382

Facebook: https://www.facebook.com/aimeesleskrealestate?ref=bookmarks