Why Start Your Home Search With A Meeting?

A Real Estate Consultant
Can You to Homeownership
Faster Than You Can on
Your Own.

Why Start Your Home Search With A Meeting?

With the advances in the internet, current house listing area available to everyone. Why then should you start you home search by meeting with a Real Estate Consultant in person?

The first meeting is critical especially for first time home buyers and those who haven't had a real estate transaction in a long time. The meeting is key to becoming informed with the home buying proces. We go over the homebuying time line and what you can expect along the way. We also assess your buying power. Even if you have some obstacles you have to over come before you are ready to buy a house come in so we can make a game plan to keep you on track.

What happens when you don't sit down with a real estate consultant before you start your home search?

• You go to put an offer on the home of your dreams only to find out they won't look at your offer before you get a preapproval. You then talk to a lender only to find out you qualify for $350,000 not the $400,000 you need to pay for the house.

• You are told at closing that you have to bring in $9,000 more that you expected for "closing costs" (what are closing costs?) or the house isn't your.

• You find your dream house and try ot put an offer on it. While you are scrambling to get all your paperwork ready for the lender to provide the prequalificiation someone else places an offer and gets it accepted.

There are endless other senarios that happen when you don't start with the proper foundation. Save yourself lots of time, but spending 20 minutes with us. We will ensure that you understand each part of the process from the prequalification - search - loan - escrow - payment - closing. This knowledge will enpower your confidence and ensure that you are in control and therefore sure of your decisions.

Let Me Help to Get You Here.

For Additional Home Buyer Information

Is Becoming a Homeowner a Good Investment in Your Future?

Buying a home has never been more affordable. The picture below shows national averages, so actual prices are different, but the message is still the same. HOMEOWNERSHIP is MORE AFFORDABLE than it ever has been before.  Even bread costs a little more and gas costs a lot more as we begin the 2012 year. Adversely interest rates have gone down since in this information was put together, making the benefits to becoming a homeowner even greater. If you were to take the average sales price for San Diego County of $262,000 at an interest rate of 4% your monthly payment is $1,313 which includes principal, interest, taxes and homeowner's insurance. What are you paying in rent? Chances are it is more than $1,300.

If you would like more information on if homeownership is the right investment for your future please  call (619) 316-7445 to set up a FREE, NO OBLIGATION consultation to see what your best options are. We are dedicated to providing you plenty of information so that you can make the best decisions for you, your future and your own goals.

Rachell Lara, Team Leader at Gold Star Group, CA DRE #01827266

To see available homes on the market visit us at www.LaraProperties.com

Real Strategies for Bank Owned Properties- Part 2 THE OFFER

Offers, while cash may be king and helpful when placing offers, it is not the bottom line in consideration.

1. Overall Net of Offer.  This is what the bank is going to receive, your offer price minus any closing cost credits, repairs, home warranties, termite extermination costs etc.

2. How You Are Going to Pay For It.  Cash is best, conventional is ok, FHA, VA or other special programs can make the banks leery that complications will arise due to the higher expectations set on the house for loan approval. If the house is in fairly good condition then this is less of a consideration and over all net price is key.

3. Cleanest Offer Possible.  The more things you ask for (such as termite clearance, repairs  of obvious faults in the house, home warranty) the more opportunities for the bank to say no because another offeree may not have made so many requests. They will take the cleanest offer possible when all other factors are equal. They want in and out of the transaction as soon as possible. The more things asked for, especially repairs, the more opportunities for things to go wrong for them. I am not suggesting that you buy a house without having done your own due diligence. You  still should get to know everything about the house you can once the bank accepts your offer. This may include paying for your own termite report so you can ensure that you know what you are getting. Then if something significant does come up on the report, you can address it with the bank in a request for repairs during the escrow period.

4. Amount of Earnest Money Deposit.  One percent of the purchase price is minimum but if you are placing a cash offer, are competing against similar offers, or are placing an offer on a house that has already fallen out of escrow once, a larger deposit could get your offer accepted.

5. Escrow Duration.  Banks don't want a long escrow--45 days is usually the longest time frame they will accept, but saying you can close in 10 days doesn't really help either. Bank escrows have a challenge getting everything done in a timely manner. Plus banks have negotiated lower fees with escrow companies so their transactions aren't always priority. Thirty day escrows are really as competitive as you can get. Besides if you don't close on time they charge a per diem fee for every day you go past the closing date, even weekends. Normally the daily charge is $50-100. Usually you can get the fee waived, but why risk it, use the 30 day escrow time.

6. Down Payment Amount.  The larger the down payment is, the higher the possibility that the buyer has resources and options that will help them overcome  possible obstacles and close the transaction.

When placing an offer, always work closely with your agent to strategize how to make your offer the most competitive it can be without putting too much onus on you. Use the above list to see where you can give a little in effort to gain a lot--a new home.

Yellow Brick Road to Home Ownership

When I was 22 I decided to buy my first house, because I was young and ignorant, I didn’t know that it was difficult or hard to achieve. Admittedly I didn’t do it by myself, I had help, and because of that first step I was able to create lots of opportunity for myself, the first being that I was able to be a full time stay at home mom for the first 10 years of my daughter’s life. I would not have been able to do that if I had been paying rent which would have gone up each year.

My passion is helping people to realize that home ownership doesn’t have to be just a dream, it is achievable. Sometimes we need a little help or guidance to get us there, or just someone to believe that we can do it. It can be hard work, but usually the worthwhile things are. The newsletter is created to give you the inspiration and assistance that you may need as you start on the road to home ownership.

In addition to the newsletter we would also like to make a individual road map just for you. Helping to make your path clear and your efforts targeted to your specific situation and goals. So you can be assured your path will lead you to a home. 

I want everyone to feel the freedom that comes with knowing that you own your own home, that no one can raise the rent on you, that you are paying your own mortgage, not someone else’s. Know that you can’t be kicked out of your home because the landlord decided to sell it or have their daughter move in. Feel free to paint your walls something besides Navajo White. Have pets if you want to and not worry that your neighbors might report you to your landlord because your cat got out as one client of mine had to deal with.

Our commitment to you is that we will assist you along the path to home ownership, much like Glinda the Good Witch, helping your overcome any obstacles in your path. Whether you’re ready to go right now or you are just starting to get your ducks in a row or even if you don’t know where any of your ducks are. We will be here for you today, tomorrow and for the years to come, helping you achieve your real estate dreams.

Please let me know if you would like to receive our monthly guide to becoming a homeowner so you to can be on the road to owning your own home. In it we will have credit repair tips, compare what you can get for the money between renting and buying, great new listings, success stories, tips and programs for down payments, current rentals and much more. If you know anyone who would like to become a homeowner this year, please have them contact me so we can get them started.

Even if you aren't in San Diego, sign up for the newsletter and when you are ready for the next step we can connect you with a great team in your area.