Thursday, July 10, 2025

 

Summary: First‑Time Home‑Buying Tips From Homelogic                                        (see full article linked below summary)

  1. Do your homework
    Define what matters most—budget, neighborhood, school district, must‑have features—before diving into listings.

  2. Find the right agent
    Choose a buyer’s agent you trust—someone who listens, understands your needs, and can guide you through the process. 

  3. Choose a lender & get pre‑approved
    Interview multiple lenders, understand your loan options, provide income documentation, and secure pre‑approval so you're ready to act fast. 

  4. Start house‑hunting
    Use listings and open houses to narrow your choices. Visit with your agent to evaluate each home carefully. 

  5. Make an offer & negotiate
    With your agent's help, craft a competitive offer that fits your budget and market conditions. Expect counteroffers and negotiate contingencies. 

  6. Home inspection & appraisal
    Hire a qualified inspector to uncover any issues and negotiate repairs if needed. The lender will appraise the home to confirm its value supports the loan. 

  7. Close the deal
    Finalize financing, sign the closing documents, pay the remaining costs, and collect the keys—then celebrate!

https://www.houselogic.com/buy/how-to-buy-step-by-step/first-time-home-buying-tips/


Cliff Johnson, Real Estate Agent                                                    

www.stonemountaingeorgiahomes.com



Tuesday, July 8, 2025

The Georgia Dream Peach Advantage Loan Program further expands access to affordable homeownership opportunities across Georgia. 

 https://dca.georgia.gov/affordable-housing/home-ownership/georgia-dream-mortgage-products/peach-advantage-loan-program

Sunday, April 7, 2024

Why Buy a Home Despite High Interest Rates?

 Why Buy a Home Despite High Interest Rates?

In a housing market where interest rates are soaring, the prospect of buying a home might seem daunting to many prospective homeowners. However, contrary to common belief, high interest rates don't necessarily translate to a bad time for purchasing property. In fact, this could be the perfect opportunity to buy your dream home. These are 3 compelling reasons why now might just be the right time to make that investment:

1. Tax Benefits:Homeownership comes with various tax benefits, including deductions for mortgage interest, property taxes, and even certain home improvements. These deductions can help offset the impact of higher interest rates, making homeownership more financially advantageous in the long run.

2. Less Competition: In a market with high-interest rates, there is less competition among buyers. Many individuals may be deterred by the prospect of higher mortgage payments, leading to fewer bidding wars and potentially lower home prices. This presents an excellent opportunity for buyers to negotiate favorable deals and secure their desired property without facing intense competition from other buyers. Moreover, sellers may be more inclined to negotiate on price or offer other incentives to close the deal in a slower market.

3. Investment in Future Appreciation: Real estate has historically proven to be a solid investment, often appreciating in value over time. Despite high-interest rates, purchasing a home now could still yield substantial returns in the future. As the economy strengthens and demand for housing continues to grow, property values may increase, providing homeowners with significant equity. Additionally, owning a home offers the potential for rental income or the ability to leverage the property for other investments, further enhancing its long-term value.

In conclusion, while high-interest rates may seem like a deterrent to homebuyers, they present unique opportunities for those willing to seize them. By locking in a fixed-rate mortgage, taking advantage of decreased competition, and recognizing the potential for future appreciation, buyers can position themselves for success in the real estate market, even amidst challenging economic conditions.

Cliff Johnson, HomeSmart, (678)495-6050, www.stonemountaingeorgiahomes.com

Monday, August 21, 2023

Monday, February 18, 2019

Want to sell your home fast?

I can sell your home fast. Call or e-mail me for free information about the value of your home.

Cliff Johnson
Solid Source Realty
(678)495-6050
CliffJ2007@gmail.com



https://widgets.realbird.com/FeaturedListingsBoard.aspx?id=C4F7F5B6&rb_st=30&rb_ss=1

Friday, November 2, 2018

Buy a Home in Stone Mountain Georgia!

Buy a Home in Stone Mountain Georgia!

www.stonemountaingeorgiahomes.com

Buying a home in Stone Mountain Georgia has its advantages—close to nature, laid back lifestyle, and myriad establishments. The best thing about residing in Stone Mountain is that you get to be surrounded by parks. Your connection to Mother Nature will never be broken. Here are some of the known parks in Stone Mountain:

1. Medlock Park. Situated at 735 Ridge Avenue, Medlock Park has on-site parking, a playground for kids, several basketball courts, tennis courts, restrooms, a pavilion with picnic tables, and a football field. What a perfect place to play the all-American game of football or just watch it as locals participate.

2. Leila Mason Park. Located at 5510 Stillhouse Road, Leila Mason Park is equipped with basketball court, a children’s playground, a ball field, on-site parking, restrooms, and three pavilions with picnic tables. You and your family can spend time here for picnics and playtime.

3. McCurdy Park. This is a park at 5190 West Mountain Street that caters to those who love to play baseball. There are three baseball fields here, plus a children’s playground, on-site parking, restrooms, and two pavilions with picnic tables.

4. V.F.W. Park. At 888 Gordon Street, you will find a park, which is home to the community garden, a ball field, on-site parking, and restrooms. You can walk your dogs or even have good run here if it is near your new home.

5. Stone Mountain Park. This is the centerpiece of Stone Mountain, GA. Living here would give you access to this most-visited place every single day. Here are the main reasons for visiting this beloved park:

a. Watch live shows, dine, and shop at the Crossroads

b. View choreographed pyrotechnics and laser lights at the Lasershow Spectacular at Mountainvision.

c. Marvel at the historical faces carved into the mountain—Jefferson Davis, Robert E. Lee, and Stonewall Jackson.

d. Throw a party organized by the professional organizers at Stone Mountain Park

e. Other attractions such as The Great Barn, Scenic Railroad, and Geyser Towers

Imagine enjoying all these parks and attractions just a walking distance or a short drive away from your new home. Buying a home in Stone Mountain Georgia has never been so exciting!



Cliff Johnson, Real Estate Agent

www.stonemountaingeorgiahomes.com

(678)495-6050

Saturday, October 20, 2018

Curb Appeal is Important When Selling Real Estate

Curb Appeal is Important When Selling Real Estate First impressions matter most. This is one concept that many homeowners trying to sell their homes and first time property investors trying to sell or rent property fail to understand. Curb appeal is the first impression when it comes to a house. This is the place that you as an investor or seller want those driving buy to think of as home. For this reason you should pay careful attention and spend some degree of time and effort making the outside of the home inviting and appealing to potential buyers or renters. One of the first things that people will notice is crumbling paint and bland or tired and faded colors on the exterior. Vinyl siding is often inviting because it is easily cleaned and reinvigorated. It also happens to be fairly low maintenance, which often appeals to buyers and renters alike. There are those however who will argue that siding detracts from the potential personality of a home. To each his or her own in this as it is a personal decision on behalf of the buyer and the seller. Regardless a clean and crisp paint job or siding makes a much better impression than an apparent state of disrepair. Remember those first impressions are important. If the outside of the home is rather unimpressive potential buyers are quite likely to discover the diamond that is the inside of your home. Another thing you can do to add curb appeal is to plant low maintenance flowers and plants around the exterior of your home. You do not want to invest in plants that require constant care nor do you want to seriously invest in plants that are going to grow out of control and look unwieldy. At least you do not want to plant these around the exterior of your home that is facing the road. Bushes and climbing vines do well in many cases along fences that surround the property however or as a dividing privacy line between your property and neighboring properties. If you live in an area that isn't conducive to green grass you may want to consider some sort of hybrid that can thrive with less water or choose some form of landscaping that doesn't rely on large open patches of grass in order to be beautiful such as landscaping then that is probably a wise idea. The point is to make the house as attractive on the outside as you hope those viewing the property will find the inside. Another thing to keep in mind when making the upgrades is to clean the sidewalks and driveway if it is concrete. It is amazing what a high power pressure washer can do to your sidewalks, driveway, and/or front porch. Don't stop there however; take the time to make sure your doors and windows are clean as well. These little things often make the biggest impression. If you care properly for the exterior of your home and keep it nice and shiny chances are (in the buyer's mind) that you will have taken the same care of the inside of the home that they are quite possibly now considering. Taking the extra time to insure that the outside of your home is attractive to buyers can translate into higher and quicker offers than neglecting the essential real estate between the front door and the curb. Do not overlook this powerful piece of advice and you should enjoy a little more success in your efforts to sell your home or investment property.

Wednesday, February 28, 2018

Visit houselogic.com for more articles like this.

Copyright 2018 NATIONAL ASSOCIATION OF REALTORS®


Friday, June 2, 2017

Why you need a real estate agent?



You could be in your very own home sweet home very soon with the help of a qualified real estate agent. Rather than trying to do it on your own, getting the help of a real estate agent can make it far easier. When you work with an agent, it costs you nothing. The seller pays the commissions, regardless of whether or not you have one. You'll gain the benefit of the expertise of a realtor on your side who's not working for the seller.



Some of the things an agent can do to help you claim your home is first help you narrow the search. A good realtor will work with you to first identify the price range you can afford based on your income and other factors. He or she will also make other suggestions that can speed the home buying process, such as getting a pre-approval letter from a bank or other qualified lender. The Realtor may also offer a list of several lenders he or she has worked with in the past who have treated her clients well. The pre-approval letter takes time but can be crucial. It tells the seller you're seriously considering the home and can afford it. It also tells the seller's agent to work hard to get this deal because there's a better chance of it being successful. It also helps you complete the closing faster.



Real estate agents also know how to maneuver through the various listings. They know the various neighborhoods and how to find homes that fit your requirements. They also know the subtleties of the listings and that newer doesn't mean new. The buyer's realtor will add an objective eye to the home viewing process. They've seen plenty of homes and know that a little paint can make a dowdy home look fantastic, but a bad well, horrible plumbing and signs of a leaking roof on the interior might be very expensive to fix. Realtors also have a good idea of the average cost of utilities in the area. If they see a home is heated by gas or electric, but the cost is extremely high, it may need more insulation. High water costs can set off a warning signal, due to the potential of leaking pipes. They help you see the entire cost of owning a particular property, such as the cost of taxes and insurance.



Realtors also help negotiate the price. They not only help you make an offer, but will advise you to counter a counter offer if they think it's off base. They also arrange for professionals to inspect the property. Termite inspections and general inspections are often required by the lender, but the buyer's realtor could ask for additional types of inspections, such as a septic inspection for a home in the country or water sample testing. Those extra steps can save you thousands of dollars and heartbreak later. The real estate agent also is at the closing to make sure there are no errors on the paperwork and to help with any last minute issues. Having an agent on your side can make the difference between finding the best possible home and either making a poor choice or spending a lot of time and effort with nothing to show for it.



Cliff Johnson

www.stonemountaingeorgiahomes.com

CliffJ2007@gmail.com

(678)495-6050, Direct

Saturday, September 12, 2015

Home Buying 101

Home Buying 101

www.stonemountaingeorgiahomes.com
(678)465-6050 (For more info on buying a home)



Most people don’t just wake up one morning and decide that they’re going to buy a home; unless perhaps they are exceptionally wealthy. For most of us it’s a gradual decision brought on by many factors: rising rent prices, the inability to make changes without a landlord’s approval, a growing family, etc. The list goes on, but no matter what prompts you to make the move to owning your own home, it’s a huge decision; and it can be intimidating.




It’s perfectly normal to be nervous and have some reservations about buying a home, especially if you are a first time buyer. Not only is this probably the largest single investment that you’ll ever make, but it will most likely involve an extremely large amount of your hard-earned money. Fortunately there are some tips and tricks that help you decide whether or not you’re ready to be a home owner.




Consider Whether Owning a Home is Right for You




Owning a home isn’t for everyone. Some people are just not cut out to be home owners and the time to decide is well before you enter into a contract. If you find yourself moving or traveling frequently, being tied down to a house can cause considerable problems unless you have someone to care for it while you’re away.




Are you able to do at least some household repairs for yourself? If the answer is no, it doesn’t necessarily mean that you shouldn’t buy, but you’ll need to add maintenance and repair costs into your budget. When you rent, the landlord takes care of these things, but as a homeowner you’ll be responsible for them yourself. Trying to do your own repairs if you are inexperienced is a great way to test your homeowner’s insurance, but it isn’t advisable.




Take a Good Look at your Finances




Look at not only your savings, but your credit card debt, any other loans that you have, and your credit score. The more you can afford as a down payment, the less your mortgage payment will be. Look also at your ability to handle money wisely. This is never an easy thing to do, but it pays to be honest with yourself. Do you make sure that your bills are paid on time even if it means doing without a few luxuries or have you been known to ask for an extension on your rent payment so you can afford to go to that expensive concert?




Talk with a Real Estate Agent




While realtors are not meant to be financial advisors, they are experienced in helping people make decisions about home buying. Contrary to popular belief, most realtors aren’t going to sell you something that you can’t afford. Your realtor can help you look over your finances and find a price range that is suitable for your income as well as giving advice about things like financing and what to expect. They can also help you to decide whether or not you can manage a mortgage payment along with your other obligations.




There is certainly more factors involved with the decision to buy a home, but these are some of the first things that you should consider. These things aren’t hard and fast rules to determine whether you should buy a home and each situation is unique. Deciding to buy a home is somewhat like deciding to have a child. If everyone waited until the perfect moment to start a family, the world would be a far less populous place. Likewise, if you wait until the perfect moment to buy a home, it may never happen. It is always wise however to be sure that at least some of the conditions are right and perhaps make a few adjustments to your way of thinking. In the end the sacrifices that you make are more than worth it in the long run.

Thursday, July 9, 2015

Credit Repair. How to do your own!

Credit Repair. How to do your own!

In days past, the transfer of goods, properties, or services involved nothing more than a direct exchange of bartered goods or currency. As time progressed, systems such as promissory notes and promise to pay contracts began to be used in place of cash transactions and transfer of goods became a bit more complex.

These days, anyone who meets certain qualifications can obtain credit with merchants, banks, etc. and while this offers greater flexibility, it brings with it a greater possibility that consumers can overextend themselves. Sadly, it has also opened a window of opportunity for things such as fraud and identity theft. This has led the government to respond by instituting laws that regulate certain aspects within the credit industry that protect not only the companies involved, but the consumer as well. For a more in depth look at these laws and regulations, websites such as http://consumer.georgia.gov/consumer-topics/credit-and-you offer a wealth of good information about rights, responsibilities, and credit repair options.

It seems that just about everyone has had at least one episode of financial troubles in their lifetime. Unfortunately even one mishap can drastically affect your credit score and prevent you from getting the financing that you need when you want to buy a home. In the event that you can get financing, you’ll most likely pay a much higher interest rate than someone with a good credit score. Credit repair companies offer to repair your credit for you, but as with anything, there is a usually a substantial fee involved. Taking on the task of doing your own credit repair may seem daunting, it isn’t necessarily a complicated procedure; it just takes some organization. Your first step of course is to get a copy of your credit report, which is available free of charge from each of the three agencies once per year.

Check for and correct any mistakes on the report – It is bad enough when you have made credit mistakes in the past so you certainly don’t need to be held responsible for those that you didn’t make. Nearly 70% of all credit reports contain at least one error so check yours carefully and have them corrected.
Get all of your late payments up to date – If you are having difficulties making payments, contact your creditors and set up a payment plan that is agreeable to both parties. In some cases a credit counseling agency can be consulted to negotiate a plan for you.
Be sure that debt payments and other bills such as utilities and rent are made on time – Payment history is perhaps the single largest factor in your credit score. If these payments are timely, they could possibly be used for references when applying for other lines of credit to further your credit repair.
Pay down any current credit card debt – The amount of credit that you use is the second most important factor in your credit score. Avoid closing credit cards because what is important is how much you owe as compared to your total credit line.
These are only a few of the things that can assist you in your personal credit repair. For more ideas as well as tips for buying a home, you can visit http://wwwstonemountaingeorgiahomes.blogspot.com/. When the time comes to purchase a home, a good credit score can smooth the way considerably. Looking online at the many real estate sites such as http://www.stonemountaingeorgiahomes.com/ can be a great incentive to get your credit score back in line and get you on your way into the home of your dreams.

Wednesday, July 1, 2015

Looking for a homebuyer's downpayment assistance program?

Looking for a downpayment assistance program?

Go to:

http://downpaymentresource.com/

Wednesday, June 24, 2015

Best Online tool to search for Properties!

Best Online tool to search for Properties!

The age of technology has produced a barrage of online services that deal exclusively with real estate listings and forever changed the way in which Americans search for homes. Gone are the days when engaging a real estate agent and scouting neighborhoods like Stone Mountain, GA was the only way to find houses for sale. In today’s society you need only turn on the computer to find home prices, search for houses in a particular neighborhood, or take virtual tours of those that spark your interest. All of the main services offer mobile apps and some apps even offer suggestions based on homes that you’ve looked at in the past. Most of these services receive their data from any number of sources, including real estate agents, public record, tax assessors, and homeowners.

Zillow

Zillow is perhaps one of the most popular online real estate services. They gained fame with their Zestimates, which are estimates of home value that derive from their formula that includes public records of home sales. Over time, Zillow has gotten more data and their estimates have become more accurate, although it should be noted that they are still only estimates.

You can also view information from old listings on Zillow, which is a plus if there are no photos included in a listing. There is also data available for homes that aren’t on the market and you can view properties near those that interest you to view old listing data, sales history, as well as satellite maps that allow you to see what amenities are nearby. For example, if you want to buy a home in Stone Mountain, GA, but want to know what hospitals are in the area, all you need to do is look at the satellite map.

Trulia

Trulia is another popular portal that gets information from various sources. It has all the perks of the other services, with the addition of its unique “heat maps.” These allow you to easily check out crime, commute times, schools, and other amenities such as grocery stores and banks in your neighborhood of choice. You can even view the probability of natural disasters like earthquakes or tornados. Some of these stats are available with other services, but not in Trulia’s unique formatting.

Trulia also allows you to make a map of the vicinity in which you want to search in addition to searching for houses by city or ZIP code. It also suggests houses based on individual search history and sends alerts for new listings as well as homes that you’ve followed.

These are just two of the many search tools that can be used when searching for homes online. One thing that they all have in common however is that they lack that personal attention that your real estate agent can give you. There are a myriad of small search sites such as http://cliffj2007.listingbook.com that offer a more one on one approach to your search. Local sites such as these, along with localized real estate sites, such as wwww.stonemountaingeorgiahomes.com , can help you get a more personalized search from an agent who is familiar with the area. While statistics and satellite photos may give you an overall view of the area, speaking with someone who has first- hand knowledge of the neighborhoods, people, and amenities is something that you can’t find with the larger online services.

Saturday, June 6, 2015

Buy a Home this Summer!

Buy a Home this Summer!

Real estate can be a tricky market and knowing when to buy can ensure that you get the home that you want at the lowest possible price. There are many factors that come into play when buying a home and the help of a real estate agent can be invaluable. Whether you are searching websites, such as www.stonemountaingeorgiahomes.com or simply looking through listings in the local paper, your real estate agent can offer sound advice with your best interest in mind. One of the things that you agent will most likely point out is that while spring has traditionally been seen as the best time of year to buy a home, buying during the summer months has some distinct advantages. Typically, people begin the process of buying a home in the spring. By the time summer arrives, the “house hunting” mindset has eased off and results in a quiet period in real estate. Here are a few of the advantages of buying a home during the summer months:

Curb-Appeal is at its Best

As spring marches on and summer looms, homes are shown in their best light. Hedges take on their summer foliage, grass turns green and lush, and what was a slushy, barren landscape becomes a cheerful and welcoming property. This is true of not only Stone Mountain, Georgia homes, but those around the country. By viewing a home when it is at its best, you can assess the property’s potential as well as getting a better idea of what improvements are needed and whether or not they are within your means. During fall and winter, sellers can excuse any unfinished repairs on weather, but during the summer months, those needed repairs can give your real estate agent valuable leverage for price negotiations.

Summer often means Better Prices

Homes are generally put on the market at the start of the new year. Spring months tend to be the busiest for real estate agents, with both buyers and sellers flooding the market. At a certain point, when most of the reasonably priced homes have been purchased, the activity reaches its peak and begins a steady decline.

Summer however, is often the cusp at which the sellers of homes that were overpriced begin to rethink their options. Houses that were priced too high and didn’t move, begin to drop in price. Homeowners who are desperate to sell their home begin to be more open minded toward negotiation and bargaining. This is the perfect opportunity for buyers to make their move and perhaps get a great house that would previously been beyond their price range. Websites like www.stonemountaingeorgiahomes are a great place to begin searching out these incredible bargains.

Less Competition

One of the best things about summertime house shopping is that the competition is much less fierce. With a fairly open market, buyers have more time to make decisions without the worry that their dream house will be sold out from under them.

The fact that the life of a real estate agent is quite hectic in spring means that it becomes more relaxed during the summertime. By this time, most buyers are concentrating more on summer vacations and plans for July 4th than they are on buying a home. Barbecues, family reunions, and weekend getaways are occupying the thoughts of most people in the summer and rushing to place an offer on the table takes less precedence.

Sellers, on the other hand, are more willing to negotiate than ever. The thoughts of upcoming vacations and holidays tend to create a sense of urgency in sellers who want to finish up the stressful business of selling their home. This often results in buyers getting a better deal than they thought possible.

There are many other reasons to continue your search for a home into the summer months. Among other things, you’ll have a better chance of meeting your potential neighbors. Summer is a beautiful time of year in Stone Mountain, Georgia. Homes are surrounded by flowers and residents are outside enjoying the weather. Getting to meet those people who may become your neighbors is often an important factor in whether or not you buy a particular home. While that may not seem like an important factor, more homeowners are dissatisfied with their neighbors than their actual home.

Whether you are a first time buyer or experienced in the ups and downs of real estate, knowing when to shop is at least as important as knowing where. Buying during the summer slump can save you money as well as relieving some of the stress involved. Stone Mountain, Georgia homes, as well as homes around the country, are often at their lowest prices of the year during the summer months.

Websites like www.stonemountaingeorgiahomes.com are a great way to get an idea of what is available in your chosen area. While summer is the time for fun, postponing that day at the beach to look at houses may be worth it if you find the home of your dreams at a price you never would have imagined.

Saturday, January 17, 2015

Obama Lowers PMI

Obama Lowers PMI

FHA (Federal Housing Administration) authorities have been under pressure from President Obama, U.S. senators, and bankers, to reduce the PMI rate, which they say is sidelining many potential buyers. President Obama has announced that the rates will drop by ½ of a percentage point, from 1.35 to 0.85 a change that will save the borrower an average of $900 dollars each year. The FHA is a major provider of mortgages for first time buyers and middle or lower income families due to its low down payment requirements (as low as 3.5% of the purchase price).

What exactly is PMI? It is also referred to as Primary Mortgage Insurance and is the bank’s (or other lender’s) safeguard in the event that the borrower defaults on the primary mortgage, isn’t able to continue making payments, and the home ends up in foreclosure. Most lenders will generally require an applicant to provide a 20% down payment when applying for a loan to purchase a home. If the prospective buyer is unable to make that down payment, the lender often views that loan as a high risk investment and requires that the borrower pay the premium for PMI.

The PMI premium is generally added to the monthly mortgage payment that the homeowner makes. Over a period of several years of payments, the borrower may have paid enough towards the principal of the loan that they can have the PMI payment removed. Many homeowners don’t even know, or may have forgotten that this insurance premium can be removed once an acceptable level of payment has been achieved.

The lowered PMI rates have the potential to bring between 90,000 and 140,000 additional home purchases per year according to the National Association of Realtor’s estimates. Chris Polychron, president of the NAR, stated that they were optimistic that the more affordable loans by the FHA would positively impact many first time buyers entering the market and that while some critics condemned the move as premature, the NAR applauded it wholeheartedly.

Sunday, December 7, 2014

Buying Luxury Home Foreclosures

Buying Luxury Home Foreclosures

Foreclosure homes present buyers with amazing opportunities for purchase properties that they wouldn’t otherwise be able to afford, and none more so than luxury homes foreclosures. Homes that would ordinarily be out of reach for the average person can be bought at a fraction of the listing price, but beware the pitfalls that could turn a potentially sweet deal sour. When dealing with foreclosure homes, particularly luxury homes, the deals tend to be a bit more complicated than an ordinary real estate transaction, but there are some tips that can help smooth the way.

Hire a real estate agent who has experience in distressed properties. Working with a reputable agent who is knowledgeable in this area is one of the best things that a potential buyer can do. Interview two or three prospects and inquire about their history in dealing with foreclosure sales.

Do some research of your own. Search around and find out what similar properties are selling for in order to determine whether or not you are really getting a bargain price. Real estate agents can also help by providing reports that allow you to view comparable home sales for the previous year or two. If you want to start your research before you contact an agent, searching real estate sites online can give you a good idea of pricing.

Patience is a virtue that you will need in plenty. When dealing with luxury homes foreclosures, be prepared for a lengthy waiting time. It takes time for the offer to be accepted (sometimes months), as well as to sort out the various entanglements that the previous owners may have left. Things such as unpaid loans or other debts that the previous owners have can delay things even further.

Get A Home Inspection. Before you purchase any home, an inspection is wise (if not required by the bank). Don’t assume that just because a house is high priced that it has been well cared for. Go through the home with a home inspector or a knowledgeable contractor and make a list of any repairs that will need done and how much they will cost. This will give you a better idea of whether or not it is worth even a bargain price.

Have your Financing in Order. Getting financing for any foreclosure can be difficult, but luxury homes foreclosures can be even trickier. If you don’t have your financing planned ahead, it could take months for the approval to come through. While you can view other homes during this time, another buyer could come in and buy the home during the interim.

There are many things that make purchasing a luxury foreclosure home different than your run of the mill real estate deal, but the bargain may make it well worth the effort. Competition is stiff for these properties and many investors will work out a deal with the banks before the foreclosure is even final. Knowing what you want and how to get it, along with having everything in order ahead of time can help to ensure that you get the home that you want at the price that you want.

Saturday, December 6, 2014

Tips On Buying New Construction Homes

New construction homes offer buyers many advantages, the first being that you start off with a blank canvas. You needn’t worry about inheriting the previous owner’s tastes in paint, carpeting, or appliances. Likewise, you already know that everything in the home is new so you don’t have to worry about making repairs. All of these things are reasons why new construction homes are so popular. When buying a newly constructed home however, there are some things that can help ensure that your new home is everything that you dreamed it would be.

Hire an Agent of Your Own – Regardless of what may be said, builder’s sales agents are paid by the builder to represent their best interests. Hiring a buyer’s agent to work on your behalf will negate any of the high pressure tactics used by many builder’s agents in order to get you to sign the contract. Since they are being paid by the builder, a representative who is working for your best interests can save you money.

The Builder’s Lender Isn’t Always The Best Option – Many builders prefer that you use their lender because they can then be kept fully aware of your progress, but their lender may not offer the best deal. Consider other sources when seeking out a lender, such as your personal credit union or bank. In many cases they will offer attractive rates and terms based on your history with them. Your agent may also be able to provide you with a list of lenders.


Get Verification for Extra Options and Upgrades – Builders usually offer various upgrades and options, but bear in mind that these extras often make up the highest profit margin for builders. Some builders are able to sell their homes at nearly a bare construction cost due to the fact that the bulk of their profit is made in upgrades. Once you’ve decided what you want, find out whether your lender will finance all of your selections. If you know a handyman, it may save money to purchase the upgrades and install them yourself. Also ask the builder if you are held liable for items that cannot be returned to the supplier.

Look Into The Builder’s Reputation – Word of mouth spreads rapidly and talking to neighbors and previous clients can tell you a lot about how the builder operates. You can also check with the BBB to see if there have been previous complaints about workmanship, etc. Lastly, look at the construction yourself. If the workmanship looks sloppy or haphazard, think twice before signing anything.
Hire a Reputable Home Inspector – This is a must whether you are purchasing a new construction home or a centuries old farm house. Having an inspector go over all the details can save time, money, and headaches in the long run.

New construction homes are wonderful and purchasing one is exciting, but they aren’t without their pitfalls. Going into the transaction with your eyes open to potential problems will ensure that your new home is just the way you want it.

Friday, November 28, 2014

How to Buy a Home

How to Buy a Home

Purchasing your first home can be quite an adventure. As with any adventure, it also comes with pitfalls and confusion. Not only do you have to find the perfect house for your family, you also want to insure it fits your budget. Even a low priced fixer-upper can be too expensive when the repairs you need to do are major. You may be able to afford the house payment, but the constant expense of repairs could break your budget.

How Much House Can You Afford?

Before you open the first magazine with all the homes in your area or embark on any home buying venture, you need to decide what you can afford. Your mortgage will be part of your total debt, which should be no more than 36 percent of your income. In order to get the best rate, you should have at least a 20 percent downpayment. Not only do the rates increase the lower your downpayment, but you may have to pay PMI---private mortgage insurance. Don't forget to factor in all unusual payments you have to make monthly, such as child support or child care. While these aren't debts, they do greatly affect your spendable income.

Get a Friendly Lender

Before you consider looking for a home, first see how much you can borrow. If you've done your homework, you already know what your monthly budget can afford, but you also need to combine that information with your credit worthiness to see how much a financial institution will lend you. If your credit score is at 740 or above and you have 20 percent for a downpayment, you're most likely eligible for the best interest rate available. Those with a lower credit scores may still get traditional financing or look to alternative ones such as government backed programs like FHA or VA.

The amount of downpayment you have also affects your rate and the amount you'll be able to afford. When your downpayment is less than 20 percent, you may be subject to PMI payments, which add to the amount you pay out every month, but don't reduce the balance you owe. These can greatly affect the price of the home you can afford. Since purchasing a home and a mortgage often has additional costs, make sure you understand these before you choose a lender. Closing costs can vary greatly from lender to lender.

Finding a Realtor

Some people have no problem estimating what they can afford or are unsure whether they qualify for a loan, but they still need guidance when it comes to finding the best house. Choosing the right realtor can be one of the most important decisions you make. Realtors not only help you navigate through all the paperwork involved in home buying, they also help you find the best home for your needs at the best price.

If you've started the home buying process without doing any of the preliminaries, such as securing financing or even estimating how much home you can afford, many realtors can guide you through the process. They work with many different lenders and vendors involved in the process. Most realtors know the reputation of different lenders and can guide you to several who may be perfect for your situation. They also have a list of people who play an important role in the process, such as those who do inspections or estimates. They also know the individuals at the title company.

A good realtor knows the approximate cost of homes in your area and can help you get the best deal. They do all the negotiations for you and can show you price comparisons of recently sold homes. Real estate agents will also keep you informed of changes to a neighborhood or other factors that could affect the value of your home.

Before You Make an Offer, Ask for Help

If you know a contractor who you trust, or have a good friend who's knowledgeable about construction, a second opinion doesn't hurt. Many younger people ask parents to see the home before they make an offer or have a contractor inspect the home, looking for problems that may exist. While your lender will require a home inspection, septic and a termite inspection in many states, getting an opinion before you make an offer can save you time and money. If you don't know anyone, ask your realtor for the name of a contractor she trusts. This type of service normally comes with a cost, but it's well worth it.

Wednesday, November 26, 2014

5 Ways to Improve Your Credit Score

5 Ways to Improve Your Credit Score

In the housing boom that occurred during the early years of the 21st century, easy loans for those with a poor credit history weren’t uncommon, these days they are quite rare. If you want to buy a home in today’s market, lenders will check your credit carefully and rarely will they approve a loan for someone who has a poor credit score. Your credit history not only affects your ability to get loans and credit cards, but the interest rates that you pay on them as well. A poor credit score can even cause a raise in your insurance premiums and in some cases it can tip the balance one way or another when applying for certain jobs.

Fortunately, a less than perfect credit score is repairable, but it will take some time, discipline, and diligence on your part. When it comes to your credit score, some things make more of a difference than others and there are some things that you can do to help raise your credit score so that you can get a loan for that house you’ve been dreaming of.

1.Be Prompt When Paying Bills- Your history of bill payment makes up just around 35% of your total credit score. It includes payment of utility bills, auto loans, credit cards, and mortgages. Late payments made in recent history will impact your credit score the most so if you’ve had late payments in the past, be sure to avoid any new instances of this costly occurrence. One way to avoid this is to inquire with credit card companies and banks about email reminders about payment due dates.

2.Review Your Credit Report on A Regular Basis- Credit companies make mistakes too. Since these can severely damage your credit score, be sure to quickly identify and correct any mistakes that have been made.

3.Don’t Close Your Old Lines of Credit- It is commonly believed that closing old credit lines can improve your score. It may actually be of more benefit to keep these lines open because even if you have late payments in the past, a long credit history is to your benefit. This is particularly true if your have a large amount of available credit. Using older cards occasionally and paying them promptly can actually improve your score.

4.Open New Lines of Credit With Care- Considering that the higher your credit line, the better, many people think that opening new lines of credit is beneficial to their score. The exact opposite is true because having several recently opened lines of credit may negatively affect your score. New credit lines don’t clean the slate and fixing problems with established credit lines is always preferable to opening new ones.
5.Mix Your Credit Lines (carefully)- The mixture of different lines of credit can account for around 10% of your total credit score. For example, a mixture of loans, credit cards, and other types of credit can impact your credit score positively if you use them wisely and don’t overextend yourself.

While these things can help you to repair a bad credit score, the easiest way to avoid these problems is to prevent them. Do whatever you can to ensure that bills are paid in a timely manner and it will go a long way toward improving and maintaining a good credit score. Having a payment that is a few days late may not seem important at the time, but when it’s time to go to the bank for that home loan, it can make all the difference in the world.

Saturday, November 15, 2014

7 Reason to Buy a Home

7 Reasons to Buy a Home


Considering buying a home? Following are 7 practical reasons to do so, especially if you're currently renting, want to invest in something viable and more.

1. Purchasing a Home is an Investment

When you rent an apartment or a home, every time you pay the rent it’s money that you'll never see again for something you don't own; talk about throwing money away. Most people are surprised to discover that the money they shell out for rent ends up being about the same if not more than a monthly mortgage payment would be (you will need to add in maintenance costs). This reason alone makes buying a home a great idea from a financial standpoint. In addition, as your home's value increases, it becomes an even more worthwhile investment.

2. Low Interest rates

It's a great time to buy a home with the current low interest rates, rental rates going through the roof, home prices below their peaks, employment on the rise. Bottom line, if you're considering buying, now is the time to move forward.

3. Tax Benefits

When you own a home and make monthly mortgage payments, you'll benefit from tax deductions. For instance, you'll be able to deduct the interest from your home loan on federal and in most cases, State taxes. Property taxes also come into play can make a good annual deduction for you. The tax benefits of owning a home will add up over time.

4. Home Equity

Home equity is your share of the home's value. As you repay your mortgage home loan, your home equity increases and over time, more and more goes towards your loan balance, which increases your home equity interest. Basically, owning a home gives you the ability to build equity in the home, turning it into a financially savvy savings plan, especially if you hang onto it for the long term. With home equity, your home will be an important asset when used as collateral for a home equity loan should you need one.

5. Home Equity - Line of Credit

If you own a home and have good credit, you can also apply for a line of credit. A home equity line of credit involves a lender agreeing to lend a maximal amount inside of an agreed period, and the borrower's home is the collateral (similar to a second mortgage). Since a home is usually a person's most valuable asset, most homeowners only use their home equity credit lines for major purchases, including home improvements, medical bills and education. While home equity lines of credit present you with the flexibility to use it at any time (up to 10 years) for any kind of expense, this flexibility typically includes a variable interest rate.

6. Predictability

In contrast to rent, fixed mortgage payments don't go up over the years and in fact, housing costs, in many cases, have the potential of going down. Insurance costs and property taxes will increase, but you'll still be in a better position financially if you own vs. rent your home.

7. Freedom and Stability

When you own a home, it can become a creative expression of you and/or your family's personality and you'll benefit from your investment for as long as you own the home. You'll also experience more peace in your personal space. If you live in your community for several years, you and/or your family will have the opportunity to establish friendships and enjoy community activities.

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