first time home buyer

Buyer’s Inspections Before Purchase

When purchasing a home, whether you’ve done it numerous times or if it is your first, the most important thing to do is get all your inspections.  The benefit’s far out way the cost.  If you uncover a major defect during this process you will consider this money well spent. I actually recommend, when I’m listing a home, for the Seller to get a home inspection so that they are aware of any defects and they can either disclose them at sale and/or fix them prior to sale.  When I lived in California I had a pest inspection done every year on my residence.  For a nominal fee, this inspection kept me abreast of any changes in the home with termites or water issues and when I eventually sold, my home was in perfect condition.

A home inspection will also lay the groundwork for any additional inspections that you may want to invest in.  Be sure to hire a professional that is a member of  ASHI or American Society of Home Inspectors.  After the inspection you should get a printed report, hopefully with pictures, that will explain any defects that are found.  With this information you can decide if their are additional inspections that you would like to obtain, like HVAC, pest and roof, to name a few.

Ask your realtor for advice on these inspections if you are not familiar with the process.  That’s what we’re there for!  It is my goal to make your purchase or sale process go as smoothly as possible  and to assist you with these tasks that can sometimes by overwhelming.

first time home buyer

$500.00 Move-In! Exceptional Value..Exceptional Home!

Yes, only $500.00 to move into a brand New Home! And it’s not a dinger either. This 1605 sqft home is loaded with upgrades. Upgrades like granite counter-tops. Tile floors in the kitchen, baths and utility rooms. The blinds are already installed. And get this…the home comes All Appliances. A beautiful Side by Side Refer, Built-in Range, Dishwasher and Microwave. And get this..a Washer and dryer!! The home comes with blinds too. This 3bed/2bth single level home is ready and waiting for you.  How much? Just $139,990. Remember, you can move in for $500.00

Snowbirds, why rent a space year after year? You can own a brand new home. Buy now while they are priced so low. These prices and incentives will not last. First Time Buyers, close on this home before April 30th and you may qualify for the $8,000 tax credit. Put your tax return to work for you.

Contact Michael Manning at 602-738-8236 for more info. My e-mail is michaelbmanning@cox.net or michael.manning@phoenixpowersearch.com

 See a video of this home.

http://picasaweb.google.com/lh/sredir?uname=judy.eldc&target=ALBUM&id=5431123299653348625&authkey=Gv1sRgCPHRxYTd6PPITQ&feat=email

first time home buyer

LOCATION, LOCATION, LOCATION, REALLY?

Location, Location, Location, Really???

When it comes to buying real estate, we’ve probably all heard the saying , “Location, Location, Location”, but it is really ALL about location?  Sure, it’s probably the most important final and deciding factor when looking at purchasing real estate, but there are two others I feel are equally or very close in importance.  When looking for a home, think “Price, Location, Floorplan”!

Before you can establish where you want to live, you have to establish what you feel comfortable paying for a home without being overextended.  Sure, I would love to own a private island such as Necker Island, a beautifully lush and tropic 72 acre island located in the British Virgin Islands and owned by Richard Branson of Virgin, ahhhhh… I digress…BUT, could I afford it??  Well, not yet, anyway!

 So, first comes PRICE.  Are you paying cash or financing?  If financing, have you talked with a lender to find out exactly what you are comfortable with and are able to buy?  You definitely want to make sure you are spending your time and your agent’s time wisely looking at homes in your price range.  And in Arizona, when putting in an offer, an LSR (a Loan Status Report tells the seller where you are in the financing process and what terms you are wanting for your loan) must be given at the time of submission so it’s a great idea to get this done first!

 Once you have established your buying power (price), then it’s off to look for that LOCATION that meets your needs.  Do you want to live near a golf course, on a mountainside, near downtown or have mountain views?  Is shopping or specific schools important to you?  Do you want to be close to the city or in the outskirts so you can see the stars shine brightly at night?

And lastly, assuming we are talking about residential living, then, it’s all about the FLOORPLAN.  Does the floorplan work for YOU?  How many bedrooms and bathrooms do you need?  Do you want to have a formal living and dining room or do you prefer the great room concept?  Would you like a one story or are two story and tri-level homes options?  Do you want all the bedrooms on one side of the home or would you prefer a split floorplan?

If you have found the right floorplan at the right price in the right location, don’t get hung up on what could be the small stuff.  Things such as paint, carpet, countertops, a few holes in the walls, etc. are all cosmetic items and if you get the house for the right price, you can easily have the cosmetic items changed.

So in the future, heed my words, “Price, Location, Floorplan”! Now, let’s go out and find you that perfect property!

When I buy a cookie at the local bakery, I like to pick out the cookie “I” want.  That’s the way I am with my clients.  My job is to find you your special cookie, to find that home that is going to meet your needs.  Call Jamie at 480-451-1400 or email Jamie@TickledPinkHomes.com and let

first time home buyer

Not a Short Sale..Not a Bank Owned, A Brand New Build For $500.00 Move-In!

No kidding. I know a builder who is competing with short sales and foreclosures and winning. You can get in for $500.00 with a PITI payment of only $903.87 per month, including HOA! A 1321 sqft single level home will cost $129,990. a 1767  sqft home only $137,900.  These  new homes are not dingers either. They are energy efficient, using Low E-Windows, 13 seer A/C units, Water-saving Plumbing Fixtures and Tile Roofs. 9′ ceilings, cultured marble vanity-tops, and raised panel interior doors are some of the upgrades included. Great kitchens include microwaves, deluxe dishwashers, spacious pantries and oak cabinets.

You get a large pool-sized lot, a covered patio, a door into the garage from the side, front and rear hose bibs. All the options you might want are already included. I only mentioned some of them.

Oh, did I mention that they come with a Side by Side Refer, Washer/Dryer and a 40″ LCD TV?

So, $5,000.00 in incentives, An $8,000.  tax credit, Side by Side Refer, Washer/Dryer and a new Big Screen TV. Low move-in (less the rent) and low monthly payment, again less the rent. What are you waiting for? Homes ready to move into now.

Michael Manning

EXP Realty, LLC

602-738-8236

first time home buyer

Cooper Commons 4bed/2bath Entertainers Dream Home $219,999

An adorable 4 bedroom, 2 bath home, single level home in popular Cooper Commons. This home features a split floor plan and separate office/den, or it can be used as a playroom. The master bedroom is spacious with a sitting area and lots of room to move around. The master bath has double sinks and a separate shower and garden tub. There is a formal dining room and a beautiful entryway. The spacious floor plan sits on a large Cul-de-sac lot with 2 car garage. This home is an entertainers dream, with high ceilings and lots of space. It has a fabulous kitchen with a breakfast area and lots of room for the cook of the home.

For more details and photos of this home please visit this Flex-MLS link:

http://www.flexmls.com/link.html?oy7itvmxatc,12

About the Community:

Cooper Commons is an established master planned community located in Southeast Chandler, Arizona. There are over 1600 homes built by eight different builders. The homes range in size from 1100 square feet to over 5000 square feet. There are numerous playgrounds throughout the community and highly rated schools to choose from.

Golfing in Chandler:

Crown Plaza San Marcos Golf Resort http://www.sanmarcosresort.com

Lone Tree Golf Club http://www.lonetreegolf18.com

Ocotillo Golf Resort http://www.ocotillogolf.com/index.php

Whirlwind Golf Club http://www.whirlwindgolf.com/index.php

Bear Creek Golf Club http://www.bearcreekaz.com

Cross Woods Indoor Golf Center http://www.crosswoodsgolf.com/sites/courses/layout9.asp?id=481&page=23863

This home located in the Cooper Commons master planned community in the city of Chandler, Arizona is a jewel. It has been well taken care of and is move in ready.

For a tour of this home or any other home in Cooper Commons please give me a call.

Tim Broderick

602-741-0862

Toll free 1-888-897-7821 ext 126

tim@phoenixpowersearch.com

first time home buyer

You have to ask yourself..Why?

Yesterday was one of those days you put off for a while… you know the ones I’m talking about…

Yesterday was the day my husband I were going to get up early and do “yard work”. When I say yard work, I don’t mean the fun kind, like planting flowers and harvesting the veggies from your garden. I am talking about pulling weeds, the scalping and dethatching of your lawn to prepare for winter grass and the scrubbing of the evidence of the apparent parties the birds have been having on my patio furniture… And while we were happy with our accomplishments by the end of our day of chores, we couldn’t help but complain about the “work”. 

I woke this morning to an email forwarded to me from a dear friend. In this email, he forwarded me a picture of his patio in Fremont, Nebraska.  I opened up the picture and couldn’t help but laugh the nervous laugh we all do when we aren’t sure how to react to something.  He was sending me a picture of SNOW on his patio.

 

My first reaction was to send him my sympathy. Then, after a minute, I decided to send him a picture of my patio this morning.

 

When you look at the two pictures, you can’t help but put everything in perspective. While I was out preparing my yard for the beautiful winter months we have coming our way, other people, in other parts of the country were preparing for the winter they have coming their way..  The difference being, they are dragging out the ladder to install the storm windows on the second story. They are locating the ever loved snow shovel that they had so gladly placed in the back of the shed, next to the ice scraper and tire chains.

So, as I sit here with a cup of coffee, sending my husband off for a day of golf, I reflect on the hours I spent yesterday, “working” on my yard…I can’t help but ask myself…WHY?  Why would you live anywhere else?

first time home buyer

First Time Home Buyers…pt 1

I have dealt with my share of 1^st time homebuyers, and I can say from experience, “I’ve been in your shoes,” so I figured a blog was naturally the next step.

One thing I have noticed in first time home buyers is uncertainty. In a market like ours with TONS and TONS of homes available, it is even more complicated, as there are those thoughts racing through the back of your head…“Is this the best deal?” “What if there is something better” “What if I end up not liking this one?” “Do I really need this many square feet?” “Do I want this many bedrooms?” “why are there so many to look at” …Sound familiar?

To help ease these uncertainties and to keep you confident in your search, I have found that you will definitely need the following: TRUST, DETERMINATION, and PERSISTENCE.

TRUST your instinct. In my experience with 1^st time homebuyers and in my own search, I have found that you will know if you like a house within the first 30 seconds of being inside. Your gut will tell you almost immediately, so LISTEN TO IT! Once your gut has communicated, be prepared to ACT QUICKLY for one reason in particular.

• You do not want to lose your top pick by hesitating. If you lose it by being outbid, or failing to come to an agreement, at least you got the opportunity and you went out swinging. Losing your favorite is one of the most discouraging events a 1^st time home buyer can experience.  In today’s market, it is bound to happen, so tough skin is required=]

TRUST your REALTOR. This is one of the most important factors in choosing a REALTOR, not just for 1^st time homebuyers, but for every buyer. I suggest interviewing a few of them IN PERSON. Although technology greatly helps in your search for your first home, NOTHING can replace face time and getting to know your REALTOR; how they act, how they portray information, how you mesh with them, etc.

In case you are unaware, in today’s market there is a good chance you will get outbid or lose out on quite a few homes before securing one. This is where your much needed PERSISTENCE and DETERMINATION come into play.

On that note, TRUST your instinct, TRUST your REALTOR, and KEEP AT IT!

Happy Home Hunting!

contact Colin Stevens directly at 623-399-0804 or colin@phoenixpowersearch.com

first time home buyer

The Highest Offer Doesn’t Always “Win”

When the market was at it’s peak, I witnessed agents writing offers on the hoods of their cars for a newly-listed home I showed to my clients. The agents and their cars were lined up like a Nascar race along the street.  It was one of the craziest experiences I have ever seen in my career! It appeared as if a gun had fired, and the Realtors were in a race to the “write an offer as fast as you can” finish line.

My clients fell in love with this home and wanted to submit an offer. They were anxious that so many offers were being written right before their eyes on the driveway, but felt it was worth the competition to own this home. As the agents were scrambling for their pens and shuffling papers around, I was on the phone with the listing agent establishing rapport with her. I inquired and listened as she explained what was important to her seller’s in an offer.

“A solid offer from a solid buyer” was what she told me. What did they really mean? Hmmm…This is where your Realtor needs to accurately read between the lines.

We went ahead and offered full asking price (solid) because of the activity on the home, and I suggested a $10K earnest deposit (solid). I submitted a loan approval (solid), along with a letter introducing my clients character, their work background, and explaining their strong (solid) desire to buy the home.

You get the point…

Submitting the highest offer or going above asking price, doesn’t always equate to a “solid offer and solid buyer”. There are other ways to reflect your solidity as a buyer that have nothing to do with your checkbook. For example, taking the extra step in writing a letter on behalf of clients, can make or break a deal. I have done this in the mortgage business with letters written directly to the underwriters, and it has saved the loan approval. We all act on emotion and like doing business with people we like and feel a connection with. We want to see them succeed.  A letter of explanation or introduction is a simple, cost-free and effective way of adding a personal touch.

It turns out that we were one of 3 out of the original 14 submitted offers to receive a counter offer. Our counter read that the seller’s agreed to the purchase price of the home. That was it. There were no other terms stated.

Sign the counter offer and submit it, right? Wrong.

I called the listing agent to see if I could gain more insight into the seller’s true needs. She revealed new information: “The seller’s just placed an offer on a home and want to move as soon as possible.” Perfect.  I just discovered the seller’s new hot button: Time is of the essence. She also shared that several counter offers went out. Knowing we were not the only ones to receive a counter, it was crucial that I gain my clients a first place position and to accurately access how to accomplish that.

To make the deal firm, my clients said, “Let’s counter and increase our purchase price offer by $15K.”  That sounds logical, and my clients really love this home,  so why not pay a little more to entice the seller’s to sign our counter? Well, read on…

The seller’s agreed with our offer on the price of the home; otherwise they would have countered higher. The seller’s only concern now is that the buyer has the ability to perform on the contract in a timely fashion so they can move ahead with the closing of their new home.

I recommended that we counter with the $10K earnest deposit to go “hard” or non-refundable after the inspection period and to close escrow in 20 days, not 30.

We received the signed counter and my clients got their dream home!

After close of escrow, I called the listing agent to thank her for a smooth and successful transaction. The listing agent said, “Your offer wasn’t the highest, but it met my clients needs perfectly. Your clients demonstrated their ability to close escrow; which was by far the most appealing asset of all offers we received.” She also added that the phone calls and questions showed a genuine concern not only for my buyers, but also for her sellers. None of the other agents had even bothered to call and simply submitted the offers.

Presenting an offer isn’t rocket-science. But understanding what makes a seller “tick” and leveraging that information into successful negotiations, is why you should use a buyer specialist.

The moral of the story?  ”The early bird gets the worm, but the second mouse gets the cheese.”

For exceptional negotiating on Arizona’s best homes, please call Stacey @ 480.747.2664 or drop me a note at stacey@scottsdaleparadise.com

first time home buyer

Tax credit on home purchase may become better for EVERYONE!

As most of us know, the current tax credit that is being given to first time home buyers (within certain income brackets) will be expiring 11/30/2009. Well, it seems that there is much discussion in regards to extending that date, increasing the credit $, and making this available to more people.  Within the past 2 months a few new proposals were brought to Congress.  They are as follows:

•A Senate bill to expand the tax credit to $15,000 for ANY home buyer regardless of income was introduced last month.

•A House bill to keep the $8,000 credit in place until June 2010 and expand it to ALL home buyers was also introduced recently.

•Another bill in the House would extend the credit to ALL home buyers through 2010.

The common thread with all 3 of these proposals is limiting(or simply removing) all restrictions.  Some of our government officials would like to see this tax credit applied to EVERYONE.  No income caps or limitations if you currently or recently have owned a home. Regardless if you think this is good or bad for the economy, these are current issues.  I will certainly watch this closely and post an update when more information is revealed.

If you are interested in beginning your home search, or have questions in regards to the current tax credit, please call or e-mail.

Cordially,
Teresa Smith
REALTOR/CNE
cell # 602-430-8439/ e-fax # 602-513-7197

HomeSmart Real Estate
BuyerTours Team/ Buyer specialist
teresa.smith@scottsdaleparadise.com

 

 

first time home buyer

Should I talk to a lender, before looking at houses?

“Why should I talk to a lender first, I know how much I can afford?” 

This is what I hear a lot recently, buyers not wanting to speak to a lender, because they know how much they can afford.  They want to shop first and get financed second.

In my opinion, this is the wrong thing to do! 

 Some of us go to the mall and shop all day long and look at your bank account later and say, “oops I can’t afford that $300 purse, I should have bought the $50.00 purse instead.” 

When purchasing a home there is no receipt which will allow the purchaser to bring it back and say, ummm sorry can’t afford this one, I would like the cheaper one instead.

  Make sure the home is in the right price range and yes always talk to a lender first.  Lenders are not only looking at what you can afford, but  they are also looking at your FICO score, debt to income ratio, negative remarks on your credit and much more. 

 

In Arizona, to present an offer, Realtors  need what is called an LSR, (Loan Status Report) or a copy of a bank statement or even a bank letter stating the purchaser can purchase the home with cash.  Without the LSR, sellers have no clue if you can afford to purchase their home or not.  There is no way we can submit an offer without an LSR, which you can only get filled out by a lender. 

Lenders and Realtors are here to help and  give advice to point you in the right direction. Discuss with  a lender and a realtor what you really can afford, what is the best price range for you and your family.  Keep payments low and always get pre approved first and shop around second. 

If you are looking to purchase a new home, and you are a first time buyer, contact me I have a lot of experience with first time home buyers. I will walk you through the process step by step.

Rachel Anderson, 480-309-7968 or rachel@phoenixpowersearch.com.

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