How to Buy Your First Home....the Easy Way!

Avoid the 10 Most Common, Painful, Frustrating Mistakes First-Time Home Buyers Make

Buying a residence can be a hair raising experience. You will experience a roller coaster of emotions while finding the right place, securing the loan and finally moving in. For most of us, the first time home purchase is the largest investment we ve ever considered. The emotions of purchasing something so expensive and personal can often cloud our business judgment.

Most home purchasers do little or no research before they invest their nest egg. Doesn t it make sense to become as completely informed as possible before you buy your first home? This special report is designed to help you avoid 10 common and crucial mistakes. The right real estate professional can help you make good sound business decisions based on your personal situation.


1. Inspect, Inspect and Inspect - Go over the inspection report with a fine tooth comb. Make sure the report was done by a professional organization. For condo purchases go over the CC&R s, By-Laws, and Association Fees. Don t take anything for granted... inspect everything!

2. Imagine the Property Vacant - Your furnishings and decorations will be the ones filling this new residence. Don't be swayed by beautiful furniture; it leaves with the owner.

3. Income + Lifestyle = Mortgage Payment - Sit down with your professional real estate agent and honestly discuss your income level and living expenses. Take into account future considerations, children, add-ons, amenities, and fix-ups. Your dream home is certainly worth a sacrifice but don t mortgage your entire future.

4. View Several Homes - See at least 7-10 properties. Don t move too slow but don t move on the first property you see. With your agent s help you should be able to view enough properties to get a good overall perspective of the home market. When you find the right property all the leg work will be worth it.

5. Utilize Your Team - By aligning yourself with the right real estate professional you will have an entire team at your disposal. Utilize your lender, title rep and agent. Each of them should work hand in hand for your benefit. Explore all the options before you sign.

6. Be Columbo - Check out all costs and expenses before you sign. Utilities, taxes, insurance, maintenance and home owner dues if applicable. Make sure all utilities (gas, electricity, and water) are on during tyour walk-throughso you can inspect everything in working order. Ask lots of questions and be very detail conscious.

7. Do a Final Walk-Through - Visit the property after all furnishings have been moved out to be sure there are no surprises. Be absolutely positive the property was left exactly as you had agreed upon in the contract. Things that could have been spotted in a final walk-through are often unintentionally overlooked.

8. Plan For Flexibility - Closing dates are not written in stone. Allow for contingencies and have a back-up plan. If you or the sellers need a little more time to conclude the final arrangements, don t let these delays upset or frustrate you. These types of circumstances are not uncommon in a real estate transaction.

9. If It's Not In Writing, It Doesn t Exist - All promises and discussions should be in writing. Don t make any assumptions or believe any assurances. Even the best intentions can be misinterpreted. Have your professional keep an ongoing log in writing of all discussions and get the seller s written approval on all agreements.

10. Loyalty Breeds Loyalty - Be open, honest and up front with your team. Hard feelings and disloyalty will cause head aches, delays or may even keep you from getting into the home you worked so hard to locate. Take the time to select the right team in the beginning and your first home purchase will be a pleasing and memorable experience.


I hope you find this information helpful. If you know of anyone who might need assistance in buying their first home, please don't hesitate to pass on their name and phone number to me, and I promise to take great care of them.

Make it a great day!

Randy

Fast Real Estate Facts

Hello,

Just thought I'd share some quick #'s with you regarding some California real estate facts...

Calif. median home price - June 07: $594,260(Source: C.A.R.)
Calif. highest median home price by C.A.R. region June 07: Santa Barbara So. Coast $1,375,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region June 07: High Desert $306,310 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - First Quarter 07: 25 percent (Source: C.A.R.)
Mortgage rates - week ending 8/9: 30-yr. fixed: 6.59%; Fees/points: 0.4% 15-yr. fixed: 6.25%; Fees/points: 0.4% 1-yr. adjustable: 5.65%; Fees/points: 0.5% (Source: Freddie Mac)

I wonder how long it will take before our Central Valley median home prices match the ones in Santa Barbara?

If you know of anyone looking to buy or sell their home, or even just wants to know the current market value of their home, please don't hesitate to pass on their name and number, and I'll be sure to take great care of them.

Have a great day!

Randy

Leave Your Troubles at the Door

I came across this short story recently and thought I'd share it with my family and friends. I know I've benefited from reading it many times. I hope you enjoy it as much as I did...

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A young and ambitious man named John hired a carpenter to restore an old house. The carpenter had just finished a rough first day on the job. A flat tire made him lose an hour of work, his electric saw quit, and now his ancient pickup refused to start.

While John drove him home, the carpenter sat in stony silence. On arriving, he invited John in to meet his family. As they walked toward the front door, the carpenter paused briefly at a small tree, touching tips of the branches with both hands.

When opening the door, he underwent an amazing transformation. His tanned face was wreathed in smiles and he hugged his two small children and gave his wife a kiss. Afterward he walked John to the car. They passed the tree and curiosity got the better of John. He asked him about what he'd seen him do earlier.

"Oh, that's my trouble tree," he replied. "I know I can't help troubles on the job, but one thing's for sure, troubles don't belong in the house with my wife and the children. So I just hang them up on the tree every night when I come home. Then in the morning I pick 'em up, and there ain't nearly as many as I remember hanging up the night before."

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I think "John" has a great way of keeping his daily stress from interferring with the quality time with his family.

Make it a great day!

Randy

Oh, by the way...Be sure and visit my website at www.LodiAreaHomes.com to check out the many "featured" listings that are available right now.