Archive

Posts Tagged ‘mortgage scottsdale’

5 tips for First Time Home Buyers!


First, Congratulations on wanting to buy your first new home! NOW, is definately the time! This is not only an exciting time but a stressful one as well. Here are some tips to help you through the process:

1. Ask questions. Ask questions of everyone you can find. I mean EVERYONE! Chances are, they asked or experienced the same question at some point in their own lives. No question is a stupid question.

2. The first question to ask is: “Can you give me a referral to a good mortgage loan officer?” Your GOOD loan officer is going to be as valuable to you as your physician. Once you choose one, apply for your new home mortgage:

* How much do you WANT to spend?

* How much do you QUALIFY for? (these could be two radically different numbers)

* How much money will you need for your down payment?

* What, if any, issues will you need to deal with in order to qualify?

* What is the current interest rate and how much tolerance do you have for interest rate movement?

3. Once you have your qualified magic purchase price number, you need a GOOD realtor. Again, ask your sphere for a realtor referral. Interview them like they are applying for a job with you. They are! The will be “working” for you until you find your new home. You need to like them! They need to be clear about your needs/wants, available to take you out looking on your schedule and be someone you want to spend time with.

4. Start shopping! Hit the streets. What do you find? Does your price point accomodate your needs? Stay in contact with your loan officer. Do you need to tweak your pre-qualification in order to make the homes you are seeing work with your budget? What are mortgage interest rates doing?

5. Make an reasonable/realistic offer! It is a buyer’s market! You are in the driver’s seat here but be realistic. Listen to your realtor. Use their advice and make a reasonable offer!

Watch for future blogs to elaborate on each of these items. Again, buying a home can be in the top 5 most stressful things you will do in your lifetime. If you fill your sphere with knowledgeable and helpful professionals you can take a tremendous amount of stress out of the equation.

Having a dream is good, owning one is better!

Leslie Pelletiere, Owner/Broker

Proudly mortgage lending in Arizona since 1999!

First Class Financial Services

602.294.9288                    www.fcfs.net                           mortgagedr@fcfs.net

NMLS#162476 / MB#0902810

Thank you to all of you tenacious realtors!


Here are some highlights from the recent member survey from NAR:

(read the full article here  —>) 

 http://rismedia.com/2011-05-18/nar-member-survey-shows-focus-on-training-commitment-to-profession/

These were among the ones that surprised me:

  • The typical NAR member has 12 years of experience; nine out of 10 say they are certain they will remain in the business.

 

  • NAR members in the business for two years or less earned a median of $8,900, while those in the business for 16 years or more earned $47,100. Sixteen percent earned a six-figure income, reflecting the entrepreneurial aspect of REALTOR® businesses.

 

  • Fourteen percent of REALTORS® work fewer than 20 hours per week, 30 percent work 20 to 39 hours per week, 41 percent work 40 to 59 hours and 15 percent work 60 hours per week or more.

 

  •  Half of the respondents use social or professional networking sites and 10 percent have a blog.

So basically the key to a successful realtor is committment, training and putting in the hours… WOW! Who knew?

I am also surprised that only half use social media and only 10% have a blog… something to think about… could that be a niche that you are fully missing out on?

Again, THANK YOU TO ALL OF YOU TENACIOUS REALTORS.  I love you!

Having a dream is good, owning one is better!

 Leslie Pelletiere, Owner

First Class Financial Services, proudly mortgage lending since 1999!

602.294.9288(O)

602.294.9830(F)

http://www.fcfs.net

MB#0902810

NMLS #162494

AZDFI Loan Officer # LO-0911453