Why You Should Have a Home Inspection

inspection

Whether you're buying an older home or new construction in the South Bay, a home inspection is an absolute necessity. A home inspection will assess the building code conformity as well as all the systems and structural components that make up the building, such as: Structural elements, foundation, framing etc Plumbing systems Electrical systems Heating and Cooling systems Roofing Cosmetic condition, paint, siding, etc. General Environmental Issues. When you’ve decided upon the South Bay home you want to buy and you’re … [Read more...]

Showing Tips for Your Home

A sale sign advertises a home in Alexandria, Virginia

Once you have decided to put your home on the market, try to view it from a buyer’s prospective. Here are six helpful steps to give you home a winning look: Keep it clean. A good cleaning and fresh paint create the impression that your home has been well-cared for. Keep it uncluttered. It will be neater and look larger. You want to convey a spacious feeling. Keep it repaired. Fix it before the buyer inquires about it; the need for repairs can affect a potential sale. Keep it neutral. Eliminate distracting colors and personal … [Read more...]

16 Mistakes That Sellers Make When Listing Their Home

price reduced

When the market favors buyers, as it does today, it is important to do everything possible to avoid the common mistakes which often lead to homes sitting on the market. Without question price is the most important aspect of getting your home sold, and the most common mistake that sellers make. Here is a list of common mistakes and how best to avoid them. Pricing Your Home Too High Solution: Price is almost everything! We are area experts and can research comparable sales in your area and advise you of the appropriate price range of your … [Read more...]

10 Home Buying Tips For First Time Home Buyers

first time home buyer

First-time home buyers often approach buying with trepidation. Questions can be answered and concerns addressed with just a little research and help from a qualified Realtor and a knowledgeable mortgage representative. Options are available that can help buyers with limited funds to enjoy the benefits of home ownership. I'll let you in on a little secret. I generally know which home a buyer is going to choose, and I suspect most other agents operate the same way. It's an intuition. But I make it a practice not to steer buyers, and I … [Read more...]

First Time Home Buyers Tips – How Much Home You Can Afford

Pending Home Sales

First-time buyers are often unsure about the financial aspects of buying a home, and you may have many questions swirling in your head. How much can I afford? Do I need a large down payment? Your home price range will be determined by your income, credit history, the cash you have for a down payment and closing costs, and your debt. How much you earn compared to how much you owe will likely determine how much the bank allows you to borrow. The financial rule of thumb is: your total monthly debt service, which will include your monthly … [Read more...]

It Pays To Explore The Ins & Outs Of Title Insurance

insurance

When you bought or refinanced your home, did your mortgage lender require a lender’s title insurance policy? Since virtually all mortgage lenders require title insurance, except perhaps a few who are unaware of their high risk, the answer is almost surely “yes.” Today, more than 50 percent of home loan originations are refinances. Although home sellers sometimes pay for title insurance, when a home mortgage is refinanced, it’s the homeowner’s responsibility to buy the lender’s title insurance policy. Most homeowners feel title … [Read more...]

The Different Types of Home Loans

loan

With tighter restrictions and lending guidelines, many of these loan programs are no longer available, or more difficult to obtain. Talk with a lender to find the right loan for you. Adjustable Rate Adjustable rate mortgages have an interest rate that is adjusted at certain intervals based on a specific index during the life of the loan. Balloon Payment Loan A fixed rate loan this is amortized over 30 years but becomes due and payable at the end of a certain term. May be extended or may roll-over into another type of … [Read more...]

Understanding the Loan Process

home loans

Finding Out How Much You Can Borrow Your maximum loan amount depends on many factors, including: How much you can afford for monthly payments. The appraised value of the property. The amount of equity in your home, if you're refinancing. How much money you have available for closing costs and a down payment (if you're purchasing). Your credit history. Choose a loan that's right for you Countrywide Home Loans’ Full Spectrum® Lending Division offers many home loan  options. We have instant information and friendly tools … [Read more...]

Five Reasons To Check Your Credit Report Regularly

credit

In much the same way that a resume displays your work experience to a prospective employer, a credit report provides prospective creditors (and in some cases employers and insurers too) with a detailed picture of your credit history. And like a resume, your credit report can influence whether you will receive what you are applying for. Ideally, your credit report is an accurate, up-to-date reflection of your credit history. However, since we don’t live in an ideal world, there are many reasons that your credit report could contain … [Read more...]