First time Home Buyers do's and don'ts

First Time Home Buyers Do’s And Don’ts

For first time home buyers, buying a home is one of the most significant investments they will ever make. In spite of the doubt and confusion clouding both the financial markets and news headlines this is still one of the best times in the last 40 years to buy a home and there are many great opportunities out there especially for first time home buyers. Home prices are more affordable than ever before and interest rates are the best we have seen in many, many years.

However first time home buyers are understandably anxious when it comes to making one of the largest investments of their lifetime.

Here is a simple list to help make the process a little easier for first time home buyers dreaming of home ownership.

First Time Home Buyers Do’s:

First time home buyers do need to take time to explore mortgage pre-approval. Getting a head start on this will help others involved with your purchase understand that you are serious about homeownership.

First time home buyers do need to make a decision on who you will be working with on your transaction, choosing a team of experienced professionals will be very important in making the home buying process simple and straight forward. Begin with a choice for your Real Estate Agent who will be able to connect first time home buyers with suitable mortgage lenders, home inspectors, lawyers and others who play a role in the home buying process.

First time home buyers do need to anticipate your future needs and buy for your personal lifestyle. What may make a perfect starter home might not work as well when children come along for first time home buyers. Remember, people move for lifestyle reasons and your first home will more than likely not be your last.

First Time Home Buyers Don’ts:

First time home buyers don’t buy more than you can afford. Make sure that your down payment, closing costs, monthly expenses and taxes are within your budget before you sign on the dotted line.

First time home buyers don’t try to time the market. Instead of waiting for an unreliable window of time and potentially missing out on the perfect home – first time home buyers should focus on their own lifestyles and buy when the time is truly right for them.

First time home buyers don’t jump into an unusual or confusing mortgage. When it comes to down payments and mortgages, if it sounds too good to be true, it probably is. Be sure to read carefully through every aspect of the proposed agreements to fully understand your end of the bargain. Don’t be afraid to ask questions as first time home buyers.

Don’t underestimate the value of a trustworthy real estate agent’s expertise. While being savvy first time home buyers will help you on the road to ownership, a local expert with years of negotiating experience is invaluable when it comes to helping you find the perfect home – and closing the deal.

CALL PAM AND JOANNA FOR MORE INFORMATION ON HOMES IN NORTH SAN DIEGO COUNTY:

PAM 760-580-1615 JOANNA 760-580-1630

Content by Courtesy of RisMedia

 There is no perfect formula for selling your home efficiently, but by following these five tips prior to listing you can increase your chances to close quickly at a higher price.

1.) Update your old garage door(s). Garage doors seem like a non-issue, but many times they make up a significant percentage of the front of a home. Because of this, they are one of the first things that buyers notice when they pull in the drive way. Replacing, or even just painting, these central fixtures will do wonders when it comes to instantly impressing perspective buyers and standing apart from your competition. The market has changed drastically since many of us purchased our homes here in town. I frequently hear buyers say that they have taken a house off their list because of the lack of curb appeal. This issue is especially important to people on busier streets, corner lots, or near a neighborhood eyesore.

2.) Replace old windows. Outdated windows age a home significantly, and you can often upgrade standard windows to vinyl for a reasonable $300 per window. The average home has 8 windows, so this upgrade doesn’t cost nearly as much as you might think and it will make a huge difference to the value perceived by prospective buyers. Key point to remember is that when buyers view a home they love, if they see it has older windows, they consider it a time consuming and costly headache. First time buyers have never replaced windows and often dramatically overestimate the cost to cure this issue. By replacing pre-listing you an actually save money. A well priced, move-in condition home will sell for far more than one with windows in need of repair.

3.) Assess your floors . If you have hardwood flooring, it’s worth the investment to have them refinished considering buyers put an extremely high value on them; you’ll get the most bang for your buck if they are refurbished. Carpets should be shampooed and replaced if they are stained or look worn. You don’t need to spend large amounts of money on the highest grade or most modern name but something inexpensive and neutral will certainly bring you a return on the investment. Even the smell of new carpet will make buyers set your home apart from the comparables.

4.) Paint the trim. If you can’t afford the daunting task of painting your entire house, painting just the trim will still make a big difference when it comes to curb appeal. Painting the whole house can be expensive, time consuming, and delayed by weather conditions; painting just the trim will give your home a fresher look. Interior trim is equally as important.

5.) Update fixtures. Keep an eye out for sales at home improvement stores and replace outdated lighting, plumbing and hardware fixtures. Simple replacing lighting fixtures and knobs in the bathroom or kitchen can update the entire look of the room. You can find many modern brand name fixtures online on contractor supply websites by just searching for terms like sale faucets, sale plumbing fixtures etc.

CALL US IF YOU ARE THINKING OF LISTING YOUR HOME, WE CAN HELP YOU!

PAM PARTON  760-580-1615            JOANNA WOOLLEY 760-580-1630

CONTENT BY COURTESY OF RISMEDIA

The end of January’s Fed announcement was very favorable for mortgage rates. This week’s mixed economic data, Treasury auctions, and news from Europe had little influence. As a result, mortgage rates ended the week lower.

The forecasts from Fed officials for the fed funds rate contained some major surprises for investors. Fed officials now expect that economic conditions will allow the fed funds rate to remain at exceptionally low levels until at least “late 2014″.Prior statements extended the expected time frame only to mid-2013. In addition, comments from Fed Chief Bernanke suggested that Fed officials would like to see stronger economic growth, and they are open to the possibility of additional Fed easing. Many investors think it is likely that the Fed will announce additional MBS purchases at a later meeting. The expectation for a low fed funds rate and the possibility of additional Fed purchases of mortgage-backed securities (MBS) increased demand for MBS, which resulted in higher MBS prices and lower mortgage rates.

The most recent release of Gross Domestic Product (GDP) showed an increase at a 2.8% annual rate during the fourth quarter of 2011, which was a little below the consensus forecast, but up from 1.8% during the third quarter. Early estimates for the first quarter of this year are for a slower growth rate. The long-run average growth rate for the economy is generally considered to be around 3.0%, and the economy usually grows at a faster than average rate following a recession. Given that the economy is growing below its potential and that inflation remains tame, the Fed’s expectation that monetary policy will remain very stimulative for a long time is understandable.

CALL PAM PARTON 760-580-1615     OR                     JOANNA WOOLLEY 760-580-1630

We would love  to help you with your home sale or purchase in North County San Diego, give us  a call at any time so we can help you get the process started!

Content Courtesy of John Yeager, Summit Mortagage

If you’ve been thinking about buying a new home, winter is the time to start getting serious. Here are a few reasons to brave the cooler weather and go on a house hunt:

The winter season has fewer units on the market, and sellers tend to need to move from their property. You can use that to your advantage to get a favorable deal.

Winter has fewer buyers in the market. Looking for a home in the winter can be inconvenient, and people are less likely to move. Families also tend to be on a September to June cycle because they are unwilling to move their children to a new town in the middle of the school year. Fewer buyers means less competition.

Lenders usually have fewer loans to process and less paperwork to deal with. With lenders less hassled, you might be able to  expect a smoother process to get approved for a mortgage.

Finally, as all savvy shoppers know after the holiday season comes the season of bargain opportunities. This includes houses as well!!

So go out and brave the weather, rain or sun and find that home you’ve been looking for. NOW IS THE TIME TO BUY.

For a complete list of all the latest short sales, foreclosures and standard sales call: PAM or JOANNA .

PAM PARTON: 760-580-1615                       JOANNA WOOLLEY: 760-580-1630

San Diego lets Celebrate

It’s that time of year again - SIZZLING HOT summer weather and time for San Diego County to celebrate 4th July. Where ever you live in San Diego County there will be firework events to enjoy. Did you know that San Diego has been selected as one of the top ten places in the Nation to celebrate 4th July?

 There have been some cancellations due to the tight budget restraints but for the most part Fireworks are as usual.  We have put together a list of the displays scheduled throughout the County of San Diego. So just for one day let your cares slip away, get out of the house, drop the chores, relax kick back with your family and friends and enjoy 4th July. 

San Diego:

San Diego Bay: Fireworks at 9 p.m. The “Big Kahuna” of fireworks. Best views from Shelter Island, Harbor Island, the North Embarcadero, and Seaport Village/Coronado Landing.  Also televised on Cox 4 HD and Fox 5 HD.

 Free parking lots with shuttle service for Harbor Island and Shelter Island. Paid parking lots also available.

La Jolla Cove : Fireworks at 9 p.m. Good views for Scripps Park, La Jolla Cove and La Jolla Shores Beach.

Mira Mesa:  Recreation Center – 8575 New Salem St. – Fireworks at 9 p.m. Also Parade begins at noon including: games, rides and food in Mira Mesa Community Park.

Mission Bay Yacht Club: 1251 Carmel Place – West Mission Bay Fireworks at 9 p.m.

Ocean Beach Pier: Ocean Blvd and Newport Ave. 30th Annual Celebration Fireworks at 9 p.m.

SeaWorld: SeaWorld Independence Day Fireworks at 9.30 p.m View from Crown Point high areas.

North County:

Camp Pendelton: Del Mar Beach Fireworks at 9.00 p.m.. The Beach Bash has activities all day long with music, food and games.

Escondido: Grape Day Park 321 N.Broadway – Fireworks at 9 p.m. Other festivities from 4 p.m. inc games, food, music and entertainment for all ages.

Rancho Bernardo: Webb Park 11000 Avena Place, Fireworks at 9 p.m. The Festival and Parade run from 7.00 am – 9.30 p.m. Starting with a pancake breakfast  then music,food crafts and games all day.

Poway: Poway High School Stadium – 1550 Espola Rd – Fireworks start at 9 p.m. Other fun events from 7 9.m.

Legoland: Fireworks at 8.30 p.m.Inside legoland. Other festivities all day with paid admission. More info – call 760-918-LEGO

San Diego County Fair (Del Mar Fairgrounds) – Fireworks at 9 p.m.

San Marcos: William Bradley Park – 465 S.Rancho Santa Fe – Fireworks at 9.30 p.m. Festival Festivities begin at 5.00 p.m.

Valley Center: Baseball Field on Lilac Rd. Fireworks at 9 p.m

Vista: Brengle Terrace Park -1200 Vale Terrace Drive – Fireworks at 9.00 p.m. Other Activities all day from 11 a.m. – 9.30 p.m

East County:

Lake Murray: Fireworks at 9.15 p.m.

Ramona: Olive Pierce School – Hanson Lane. Fireworks at 9.00 p.m.

South Bay – South San Diego County

National City: Kimball Park 12th St and D Avenue Fireworks at 9.00 p.m.