Real Estate Myth #3: You must put 20% down to buy a home.
This one is easy. Despite recent trouble in the mortgage industry, there are still several options for buyers who are not in a position to make a 20% down payment. In fact, the FHA minimum is only 3.5%! On top of that, there are still a couple of options for zero down loans offered by THDA and USDA Rural Housing. You must meet certain guidelines for these programs, so if you would like to talk with someone about which loan options you can qualify for, I'm happy to put you in touch with one of our preferred lenders. Call or email me anytime. Also, don't forget...the deadline for the $8,000 first time buyer tax credit is November 30th!
Adam Helton
RE/MAX Elite
www.AdamHelton.com
Saturday, September 19, 2009
Friday, September 4, 2009
First Things First, for Buyers...
I talked to a first time home buyer this week, who told me she didn't want to talk to a mortgage company until she "found the right house." BIG mistake! When I work with buyer clients, that's step #1...talk to a lender. Here's why:
1) Know what you CAN do. You'll need to talk to a lender so that you know what price range you can can get approved for. Lenders look at income, debt, credit scores, etc. to see what type of loan best suits you and how much house you can buy.
2) Know what you are COMFORTABLE doing. This is the most important thing. You may "qualify" to buy a home in one price range, but based on the monthly payment you are comfortable with, it might be wise and more realistic to buy in a different price range.
It's always better to take care of the "baby steps" first. The last thing you want to do, is start looking at homes and fall in love with one, only to find out you can't afford it. It's disappointing and discouraging! Once you're pre-approved, you know exactly what you've got to work with and you're in a much better position as a buyer. When you find something you like, you can act fast and sellers are always more likely to deal with pre-approved buyers over buyers who are not.
If you or someone you know is thinking about buying a home, give me a call. I'm happy to answer any questions and appreciate the opportunity to assist you through the process. And of course, I can put you in contact with a good lender, if you don't already know one!
By the way, if you plan to pay cash for your next home...disregard this Blog entry.
Adam Helton
RE/MAX Elite
http://www.adamhelton.com/
1) Know what you CAN do. You'll need to talk to a lender so that you know what price range you can can get approved for. Lenders look at income, debt, credit scores, etc. to see what type of loan best suits you and how much house you can buy.
2) Know what you are COMFORTABLE doing. This is the most important thing. You may "qualify" to buy a home in one price range, but based on the monthly payment you are comfortable with, it might be wise and more realistic to buy in a different price range.
It's always better to take care of the "baby steps" first. The last thing you want to do, is start looking at homes and fall in love with one, only to find out you can't afford it. It's disappointing and discouraging! Once you're pre-approved, you know exactly what you've got to work with and you're in a much better position as a buyer. When you find something you like, you can act fast and sellers are always more likely to deal with pre-approved buyers over buyers who are not.
If you or someone you know is thinking about buying a home, give me a call. I'm happy to answer any questions and appreciate the opportunity to assist you through the process. And of course, I can put you in contact with a good lender, if you don't already know one!
By the way, if you plan to pay cash for your next home...disregard this Blog entry.
Adam Helton
RE/MAX Elite
http://www.adamhelton.com/
Saturday, August 29, 2009
Home Selling Tip #93
JUST LEAVE! If you are considering selling your home, I strongly suggest not being present while the home is being shown. I was showing homes in Franklin this week, and when we arrived at the last home, the seller was there waiting for us. He was a very nice man. He was trying to be helpful. He had good intentions, but the buyers were there to see the house...not him. Here are a couple of reasons why it's better to JUST LEAVE when your home is showing:
1) Too Much Info: Sellers have a tendency to talk too much...about their home...about their family...about everything! The more sellers talk, the less buyers look. Your home probably isn't the first they've seen. Let them look on their own. In addition, with a few question from the buyer's REALTOR, you may give more information that you wanted, and lose negotiating power.
2) Let them REALLY look: Would closet space would be important to a lady who owns 50-100 pairs of shoes? YES. Do you think that lady is going to feel comfortable opening closets, with a seller looking over her shoulder the whole time? NO. If a buyer is seriously considering your home, they're going to want to open closets, drawers, attics, etc. And they may want to talk about it with each other. Hard to do when the seller is there.
If you'd like more tips on selling or buying a home, feel free to call or email me any time! Or if you have a specific question, you can also post it here on my Blog. I appreciate the opportunity to serve your family, and I'm NEVER too busy for your referrals!
Adam Helton
RE/MAX Elite
http://www.adamhelton.com/
1) Too Much Info: Sellers have a tendency to talk too much...about their home...about their family...about everything! The more sellers talk, the less buyers look. Your home probably isn't the first they've seen. Let them look on their own. In addition, with a few question from the buyer's REALTOR, you may give more information that you wanted, and lose negotiating power.
2) Let them REALLY look: Would closet space would be important to a lady who owns 50-100 pairs of shoes? YES. Do you think that lady is going to feel comfortable opening closets, with a seller looking over her shoulder the whole time? NO. If a buyer is seriously considering your home, they're going to want to open closets, drawers, attics, etc. And they may want to talk about it with each other. Hard to do when the seller is there.
If you'd like more tips on selling or buying a home, feel free to call or email me any time! Or if you have a specific question, you can also post it here on my Blog. I appreciate the opportunity to serve your family, and I'm NEVER too busy for your referrals!
Adam Helton
RE/MAX Elite
http://www.adamhelton.com/
Friday, August 21, 2009
Why buy a home...NOW?
I am currently working with a first time buyer who's Mother has been encouraging him for years to buy a home. He has always had good credit and a steady income, perfectly capable of making his first home purchase. The time just wasn't right for him. Well, last month he decided that there couldn't be a much better time to buy than NOW...and he's right. Here are my top 3 reasons for first time home buyers to make their purchase NOW:
#1 Lot's of Homes, Great Prices! If my client would have bought a home three or four years ago, it would have been at the very peak of the real estate market here in Middle TN. Home prices were sky rocketing! Everything was selling...even the ugly ones. Now, prices have leveled out and there are thousands of homes to choose from!
#2 Interest Rates are still LOW! If my client would have bought a home three or four years ago, the interest rates would have been about what they are today. They continue to remain historically low!
#3 $8,000 Tax Credit! Eight Grand! If my client would have bought a home three or four years ago, all he would receive after closing, are keys. "First Time Home Buyers" that close BEFORE NOVEMBER 30th, 2009 are eligible to receive the $8,000 tax credit. Click this link for more information: http://tarnet.com/govaff/pdf/SimulusReport.pdf
If you or someone you know is considering a home purchase in the near future, there just couldn't be a better time! If you would like a FREE copy of our Home Buyers Guide, or if I can put you in touch with one of our trusted lenders, please feel free to call me anytime. I want to make sure that I am available to you, whether you simply have a question or want to start looking at homes. You can search the entire MLS from my website: http://www.adamhelton.com/.
Adam Helton
RE/MAX Elite
www.AdamHelton.com
#1 Lot's of Homes, Great Prices! If my client would have bought a home three or four years ago, it would have been at the very peak of the real estate market here in Middle TN. Home prices were sky rocketing! Everything was selling...even the ugly ones. Now, prices have leveled out and there are thousands of homes to choose from!
#2 Interest Rates are still LOW! If my client would have bought a home three or four years ago, the interest rates would have been about what they are today. They continue to remain historically low!
#3 $8,000 Tax Credit! Eight Grand! If my client would have bought a home three or four years ago, all he would receive after closing, are keys. "First Time Home Buyers" that close BEFORE NOVEMBER 30th, 2009 are eligible to receive the $8,000 tax credit. Click this link for more information: http://tarnet.com/govaff/pdf/SimulusReport.pdf
If you or someone you know is considering a home purchase in the near future, there just couldn't be a better time! If you would like a FREE copy of our Home Buyers Guide, or if I can put you in touch with one of our trusted lenders, please feel free to call me anytime. I want to make sure that I am available to you, whether you simply have a question or want to start looking at homes. You can search the entire MLS from my website: http://www.adamhelton.com/.
Adam Helton
RE/MAX Elite
www.AdamHelton.com
Wednesday, August 19, 2009
OK, so now I'm a Blogger...
I'm still not quite sure what that means, but I guess I'll learn as I go. It is my goal to provide you, the reader, with regular updates on what the Middle Tennessee real estate market is doing, as well as helpful home showing tips, mortgage advice, client stories and much more! If you have a real estate related question, please feel free to ask. Thank you for the opportunity to serve you, and those you know!
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