1.  Decide how much home you can afford.  Generally, you can afford a home equal in value to between two and three times your gross income. 

2.  Develope a wish list of what you’d like your home to have.  Then prioritize the features on your list.

3.  Select three or four neighborhoods you’d like to live in.  Consider items such as schools, recreational facilities, area expansion plans, and safety.

4.  Determine if you have enough saved to cover your down payment and closing costs.  Closing costs, including taxes, attorney’s fee, and transfer fees average between 2% and 7% of the home price.

5.  Get your credit in order.  Obtain a copy of your credit report.

6.  Determine how large a mortgage you can qualify for.  Also explore different loan options and decide what’s best for you.

7.  Organize all the documentation a lender will need to pre approve you for a loan.

8.  Do research to determine if you qualify for any special mortgage or down payment-assistance programs.

9.  Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees, if applicable.

10.  Find an experienced REALTOR who can help you through the process. 

Reprinted from REALTOR Magazine Online by permission of the National Association of REALTORS, Copyright 2005, All rights reserved.

0 comments. This is an old post. The comments are currently closed. Click here to send me a comment via email.

NEW YORK (New York Times) – April 5th will mark the beginning of a new program by the Obama administration intended to end the foreclosure crisis — one that will pay homeowners to sell their homes.
The program will allow owners to sell their homes for less than they owe and give them cash to expedite the process.
Hundreds of thousands of delinquent borrowers will be encouraged to sell their houses through short sales, in which properties are sold for less than the balance of the mortgage.
The new program will give the servicing bank $1,000, and another $1,000 may go toward a second loan, if one exists. The distressed homeowners will also receive $1,500 in relocation assistance.
Borrowers could suffer less damage to their credit ratings under the new program, and they will receive the lender’s assurance that they will not later be sued for an unpaid mortgage balance.

** UPDATE 12-28-09 **

This post was written when I was affiliated with Coldwell Banker United and Cartus Global Network. I have since moved to RE/MAX and am no longer affiliated with Coldwell Banker United and Cartus Global Network. I still look forward to meeting your relocation and real estate needs. ~Shannon

I want to help you when you are moving to Houston!  I can help you sell your current home and represent you in your next real estate purchase.  Doing a corporate relocation?  Call me!  As a relocation specialist, I can help you buy or sell world wide.  I am a member of Cartus, the largest relocation company in the Houston area.  Call me today so I can become your Realtor for Life.

0 comments. This is an old post. The comments are currently closed. Click here to send me a comment via email.

** UPDATE 12-28-09 **

This post was written when I was affiliated with Coldwell Banker United and Cartus Global Network. I have since moved to RE/MAX and am no longer affiliated with Coldwell Banker United and Cartus Global Network. I still look forward to meeting your relocation and real estate needs. ~Shannon

If you are moving to the Houston area, I can assist you with all of your real estate needs.  As a Buyer’s Representative, I look out for your best interest and help you negotiate a great price on your next home.  I specialize in relocating families to the Houston area.  As part of the Cartus Corporate Global Relocation Network, I can help you sell your current home and find a new one.  Call me today to explain Agency in Texas and why you need a Realtor to represent your best interest when buying your next home.

0 comments. This is an old post. The comments are currently closed. Click here to send me a comment via email.

** UPDATE 12-28-09 **

This post was written when I was affiliated with Coldwell Banker United and Cartus Global Network. I have since moved to RE/MAX and am no longer affiliated with Coldwell Banker United and Cartus Global Network. I still look forward to meeting your relocation and real estate needs. ~Shannon

As a member of the Cartus Global Network, I can help you with your relocation to the Houston area and help you sell your current home.  I want to be your Realtor for life!  That means wherever you live, wherever you move, I want to help you with all of your real estate needs.  Call me today to find out how I can serve your real estate needs world wide for life!

0 comments. This is an old post. The comments are currently closed. Click here to send me a comment via email.