"He definitely will be our agent of choice the next time we make a real estate transaction..."
Fantastic and responsive in every way! Ron was extremely well organized and as a result, as a buyer respected our time. He narrowed his property search into exactly what we wanted and didn't pressure us into making a hasty purchase. As a result, we ended up purchasing exactly what we wanted. Ron stayed engaged through the closing process, again minimizing the impact on our time. He definitely will be our agent of choice the next time we make a real estate transaction and I can't complement his work highly enough.
What Home Buyers Need to Know
Home buyers need to know about financing and the local market. When I begin working with home buyers, I like to meet with them and discuss any of their concerns. One of the first things I ask a home buyer is: have you met with a mortgage lender? If you are not pre-qualified, we could find the perfect house for you and by the time you get pre-qualified, the house has gone pending and is off the market. That is what I’d like my clients to not experience.
Home buyers need to know about financing options. Mortgage lenders will pre-qualify you for the best possible rate and discuss options with you. There are three main areas they look at:
- Good Credit Risk – Lenders look at your credit score. If you are planning to buy a home, this is an area you can focus on in the months prior to looking for a home. Pull your credit score from Freecreditreport.com and look for mistakes and work with the credit bureaus (Equifax, Experian and TransUnion) to fix them. Also work on paying bills on time and cleaning up any other credit issues to improve your credit score. The better your credit is, the better the rate is that you can qualify for.
- Payments – Lenders look at your job and income history. Then they compare housing expenses to income. For this purpose, housing expenses include the mortgage payment, real estate taxes, homeowner’s insurance, mortgage insurance (if any) and HOA dues. (For you to determine if you can afford the payment, you should add in other housing expenses, such as electricity, natural gas, water, garbage, and sewer monthly expenses.)
Next, lenders determine if housing expenses exceed 25% to 28% of gross monthly income. If they don’t, they then look at maximum debt-to-income. Maximum debt includes all your monthly payments.
Looking for a Home
Home buyers need to know what they want in a home. Another part of my process in working with a home buyer is to determine what it is they need want in a home. I monitor the MLS daily and base my home searches on what is needed and preferred by the home buyer. I don’t waste your time showing you properties that don’t meet your criteria. Here are 23 things a home buyer needs to know.
Once you decide to see properties, I set up times to see the homes. I usually map out the properties so we view them in a time-efficient manner. My client’s time is very important to me.
Keeping a checklist of needs and wants in a home may be a good thing for you to do as well. Sometimes, you can love a home, but it doesn’t meet your real needs. It is also important to think of the future, are you planning to have children or more children, do you think you will need a one-story, etc.
Finally, once we find you the house or property you want, my knowledge of the local housing market really comes into play. I review other properties that have sold and use my local knowledge and market data to determine if the house is priced correctly. Then you and I discuss what would be a good offer. My negotiating skills are a strength of mine and I work hard to get you the best price and amenities for your new home.
Contact me today at 206.604.5186 and I’ll “team with you to meet your real estate needs!”