Saturday, December 28, 2013

6 Resolutions for your 2014 Home Buying Goals

As we come to the end of 2013 and enter into 2014 many people are busy enjoying the holiday festivities while setting resolutions for the year to come. Some people have resolved due to past failed resolutions to never make another resolution; others persist in making resolutions for their lives some successfully and some not but either way what truly matters is we try. As the old proverb written by: Thomas H. Palmer says  " Tis a lesson you should heed:
                                                       Try, try, try again.
                                                       If at first you don't succeed
                                                      Try, try, try again." 
So when it comes to Resolutions Make them and do your best to keep them as long as they are reasonable.

Many think a resolution refers to only a bad habit or a way to improve our health. Such as: I will quit smoking, or I will lose 20 pounds. Others set personal financial goals. Such as: I will stop using credits cards, I will start saving money, or I will begin to invest in my retirement.

For those of you who have been following the roller coaster real estate market these past few years and see 2014 as your year to make your real estate dreams and goals a reality. I offer you some resolutions you may want to take ownership of in your life.

First
    Resolve to Check Your Credit and Repair it if necessary.
    In the current market when making an offer having a pre-approval letter submitted with your offer       strengthens your position in this competitive market having a  higher number of buyers than 
    available homes for sale. You can pull all 3 reports once a year from www.annualcreditreport.com 
    it should give you a good idea of what you can fix or where you are at. Speaking to a lender will    
    also help you know how close you are to being able to get the loan you will need to make your 
    home purchase.
   
Second
    Resolve to Start Saving for Your Down Payment or Real Estate Related Fees: 
    Your down payment will be relative to the loan you and your lender work out that best suits your   
    situation. Real estate related fees can be as follows it is not a complete list but should give you
    an idea. For example: Earnest Money Deposit (this is not your Down payment)
                                       Home Inspection
                                       Pest inspection
                                      Appraisal fee
                                      Closing Cost
                                     Moving Expenses
  Some fees are rolled into your monthly payments so I have not listed them and there may be others that are customary to the market you are in (check with your local realtor for related fees).

Third
    Resolve to Make a Budget
     Deciding what you are comfortable paying in a house payment is important, be realistic in your 
     current market. Let your lender help you in figuring out a range based on your current obligations.      Make sure the agent you decide to work with respects your budget and does their best to select 
     homes for viewings that falls within the price range you and your lender have set in your loan 
     approval process.

Fourth
Resolve to get Educated in your current Market
Consult professionals in your area to help you move forward in your process. Real articles, books,
take home owner education classes. Allow your lender or a local Realtor to send you information or add you to a system that allows you to freely search the communities you are interested in, So you can stay abreast of what is happening in your area relative to pricing and days on the market.

Remember when looking for guidance everyone's situation is different and buying in today's market is not the same as for those that bought in the past, so please smile and say thank you to those well meaning people who truly mean well when offering advice but stay focused on your goals and follow the advice of those that are actively involved in the day to day operations of your current market.

Fifth
Resolve to Take Ownership of your Home Purchase
Your agent is there to help guide you not tell you what to do but assist you in making decisions. The final choice is yours so make sure whoever you work with truly understands your needs and desires and is able to communicate effectively and negotiate on your behalf. These traits will help your transaction go as smoothly as possible.

Sixth and last
Resolve to keep a smile on your face and Enjoy the process.
Getting through the loan process and finding the right home for you can be an arduous process but if you stay focused on the light at the end of the tunnel and realize you will get through this with the team you choose you can keep smiling through it all.

May This New Year Bring You All The Blessings You Seek. Happy New Year To You All! 

Thank You for reading;
Tami Lee Merriam
BRE# 01936304    
707-603-5348     
Zip Realty
Tami.Merriam@gmail.com
                                                             
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