Mortgage Defaults decline, Low rates, Great Time to Buy!
July 27th, 2010 categories: Buyers' Tips
With home mortgage defaults decline to a 3-year low and one of the lowest interest rates, there is no better time to buy a house.
Even though it is a buyer’s market, buyers need to understand how to win the house that they like while still getting the best deal, interest rate and so on, which is why I’ve created a list of important items for prospective buyers:
1. Select the right agent who’s willing to work extra hard for you, as things are a lot different now than it used to be.
2. Get pre-approved, not pre-qualified by a good lender, bank. When you are pre-approved you will beat your competition and make it easier to show that you are a strong motivated buyer. Try to get approved by Wells Fargo or another big bank, as some of the foreclosures require that.
3. Understand the mortgage process and the real estate process by asking to receive an outline of events. I like to give my buyers and sellers what I call an Action Plan list, which has all the dates and time frames, as well as many explanation of the escrow/buying process.
4. Hire a good home inspector!
5. Make sure to receive a pest report on the house, even though you buy the property as is.
6. Get ready for the signing and celebration time!
And speaking of celebration time, don’t forget to check out the State Fair, which has many things to offer for all ages from rides, art exhibits, shows, animals, the green area to chocolate covered bacon. Sorry to disappoint you, but I wasn’t brave enough to try it. I preferred to take a speedy roller coaster ride.
For more information on Sacramento real estate, please contact Carmen at 916-342-2446, or e-mail at carmen@carmenmicsa.com. Also to receive free listings, go to www.Dynamicsacramentohomes.com. And last, but not least be sure to ask for your 7-night cruise when buying with Carmen and her team of experienced agents, as well as a $500 credit to your closing costs if you mention this blog article.
