I am sure you have been hearing that home prices have been on the rise in Phoenix AZ. Here is an article that give some in depth information as to why this is and what we can expect in the future. Some choice snippets are below and here's the link to the full article
"It’s no secret that Wall Street has been bullish on real estate. Housing stocks have surged over the past year, many teetering on the edge of overbought, and billionaire investors like Warren Buffett have been exceedingly vocal about the investment opportunities brick and mortar properties have represented. "
"Not surprisingly inventory levels plummeted as demand increased, putting upward pressure on prices that have created a ripple effect. "
"many areas have welcomed notable year-over-year price increases as well — though none quite as much as Phoenix, which welcomed a nearly 23% uptick in prices throughout 2012,"
Monday, March 18, 2013
Thursday, March 14, 2013
Ask Debi, How do I figure out what I can afford?
Hi Debi,
We are just starting to look for a new home but we are not sure how much we can afford. We don't know what the up front costs are or what a payment will be. Can you guide us in the right direction? Thank you!
Searching Suzanne
Dear Search,
This is a really good question and you are definitely ahead of the game to start your home searching process here.
One of the first thing you should do is take a look at your savings and figure out how much you have for a down payment. Right now the minimum down payment is 3.5% for an FHA loan. Of course there are some other options for down payments. See this article about coming up with a down payment.
The next step will be to find a really good loan officer. Choosing your loan officer is just as important as choosing your Realtor. You should ask friends, family and your Realtor for referrals. Also, here is an article on how to choose a loan officer.
Your loan officer will be an invaluable resource throughout your home buying process. A good loan officer will be able to explain what type of loan program will fit your needs, how much of a down payment you will need, estimate your closing costs and tell you what your payment will be.
Here are some links to articles on home buying costs and affordability.
Can you afford to buy?
Mortgage Pre-Approval
Basic Mortgage Questions
Good luck in the process and remember the great saying by Alexander Graham Bell- "Before anything else, preparation is the key to success"
-Debi
We are just starting to look for a new home but we are not sure how much we can afford. We don't know what the up front costs are or what a payment will be. Can you guide us in the right direction? Thank you!
Searching Suzanne
Dear Search,
This is a really good question and you are definitely ahead of the game to start your home searching process here.
One of the first thing you should do is take a look at your savings and figure out how much you have for a down payment. Right now the minimum down payment is 3.5% for an FHA loan. Of course there are some other options for down payments. See this article about coming up with a down payment.
The next step will be to find a really good loan officer. Choosing your loan officer is just as important as choosing your Realtor. You should ask friends, family and your Realtor for referrals. Also, here is an article on how to choose a loan officer.
Your loan officer will be an invaluable resource throughout your home buying process. A good loan officer will be able to explain what type of loan program will fit your needs, how much of a down payment you will need, estimate your closing costs and tell you what your payment will be.
Here are some links to articles on home buying costs and affordability.
Can you afford to buy?
Mortgage Pre-Approval
Basic Mortgage Questions
Good luck in the process and remember the great saying by Alexander Graham Bell- "Before anything else, preparation is the key to success"
-Debi
Thursday, March 7, 2013
Ask Debi, How to choose a real estate agent
Dear Debi,
How do I choose a real estate agent to help me sell my home and help me buy a new home? I have heard some horror stories and I want to choose someone that will look out for my best interests.
Sincerely,
Leery Lucy
Dear Leery,
You are right to want to do some research about who will represent you when you are making such a momentous purchase and sale. There are some really great articles around the web about just this topic so I will summarize some of the best points and then link to them at the bottom.
First, ask around. The best realtors have done such a good job for their clients that they all sing their praises and are happy to refer them.
One you get a few referrals don't be afraid to reach out to them. This will be a good first test. Is the agent responsive? A full time agent should be ready to respond to inquiries very quickly. If you are selling your home do you want potential buyers having to wait several days for a response to their questions? If you are buying a home, do you want to wait a few days to find out if a home is still available?
Another question you may want to ask is if the agent is familiar with the areas that you will be looking in. Some agents specialize in certain areas and some agents are pretty familiar with a large swath of the City. It is good to have an agent with experience in the area that you are buying and selling in.
You can also do some research online. Of course you should google the agent's name and see what comes up. You can also check out their website and also look online at zillow and trulia for agent profiles and reviews.
The bottom line is you want to feel like the agent is honest and looking out for your best interests but you also want an agent that can educate and inform you along the way. A good agent is your best asset when buying or selling a home.
Here are some links to articles on how to choose a real estate agent.
How to choose a real estate agent do's and don'ts
Questions to ask your potential Realtor
7 tips for choosing a Realtor
Good luck making your choice and remember the lovely quote by Tehyi Hsieh- "Life is partly what we make it, and partly what it is made by the friends we choose."
-Debi
How do I choose a real estate agent to help me sell my home and help me buy a new home? I have heard some horror stories and I want to choose someone that will look out for my best interests.
Sincerely,
Leery Lucy
Dear Leery,
You are right to want to do some research about who will represent you when you are making such a momentous purchase and sale. There are some really great articles around the web about just this topic so I will summarize some of the best points and then link to them at the bottom.
First, ask around. The best realtors have done such a good job for their clients that they all sing their praises and are happy to refer them.
One you get a few referrals don't be afraid to reach out to them. This will be a good first test. Is the agent responsive? A full time agent should be ready to respond to inquiries very quickly. If you are selling your home do you want potential buyers having to wait several days for a response to their questions? If you are buying a home, do you want to wait a few days to find out if a home is still available?
Another question you may want to ask is if the agent is familiar with the areas that you will be looking in. Some agents specialize in certain areas and some agents are pretty familiar with a large swath of the City. It is good to have an agent with experience in the area that you are buying and selling in.
You can also do some research online. Of course you should google the agent's name and see what comes up. You can also check out their website and also look online at zillow and trulia for agent profiles and reviews.
The bottom line is you want to feel like the agent is honest and looking out for your best interests but you also want an agent that can educate and inform you along the way. A good agent is your best asset when buying or selling a home.
Here are some links to articles on how to choose a real estate agent.
How to choose a real estate agent do's and don'ts
Questions to ask your potential Realtor
7 tips for choosing a Realtor
Good luck making your choice and remember the lovely quote by Tehyi Hsieh- "Life is partly what we make it, and partly what it is made by the friends we choose."
-Debi
Subscribe to:
Posts (Atom)