Posts Tagged ‘first time buyer’

8 Tips to Guide You on Your Home Search

Thursday, October 7th, 2010




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1. Research before you look. Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing.

2. Be realistic. It’s OK to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property.
 

3. Get your finances in order.Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a lender and get pre-qualified for a mortgage. This will save you the heartache later of falling in love with a house you can’t afford.

4. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion, but be ready to make the final decision on your own.

5. Decide your moving timeline. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? All of these factors will help you determine when you should move.

6. Think long term. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in this home for a longer period? This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that will best suit you.

7. Insist on a home inspection. If possible, get a warranty from the seller to cover defects for one year.

8. Get help from a REALTOR®. Hire a real estate professional who specializes in buyer representation. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. Buyer’s reps are usually paid out of the seller’s commission payment.

*Reprinted from REALTOR Magazine, with permission of the National Association of Realtors.


  • wp socializer sprite mask 16px 8 Tips to Guide You on Your Home Search  | CT Real Estate
  • wp socializer sprite mask 16px 8 Tips to Guide You on Your Home Search  | CT Real Estate
  • wp socializer sprite mask 16px 8 Tips to Guide You on Your Home Search  | CT Real Estate
  • wp socializer sprite mask 16px 8 Tips to Guide You on Your Home Search  | CT Real Estate
  • wp socializer sprite mask 16px 8 Tips to Guide You on Your Home Search  | CT Real Estate
  • wp socializer sprite mask 16px 8 Tips to Guide You on Your Home Search  | CT Real Estate
  • wp socializer sprite mask 16px 8 Tips to Guide You on Your Home Search  | CT Real Estate
  • wp socializer sprite mask 16px 8 Tips to Guide You on Your Home Search  | CT Real Estate

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Economic Update – October 4, 2010

Monday, October 4th, 2010




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Last Week in the News
________________________________________
According to the ICSC-Goldman Sachs index, retail sales rose 0.4% for the week ending September 25. On a year-over-year basis, retailers saw sales increase 3.6%, the best reading since early August.
The Standard & Poor’s/Case-Shiller 20-city housing price index — on a seasonally adjusted basis — rose 0.6% in July after a 0.3% increase in June. On a year-over-year basis, prices rose 3.2% compared with July 2009.
The consumer confidence index fell to 48.5 in September from a downwardly revised 53.2 in August. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending September 24 fell 0.8%. Refinancing applications fell 1.6%. Purchase volume increased 2.4%.
The Institute for Supply Management reported that the monthly composite index of manufacturing activity was 54.4 in September after reaching 56.3 in August. Economists had anticipated a reading of 54.5. A reading above 50 signals expansion. It was the 14th straight month of expansion.
Total construction spending rose 0.4% to $811.8 billion in August, following a downwardly revised 1.4% drop in July. Economists had anticipated a drop of 0.4% in August.
The Commerce Department reported that consumer spending rose $41.3 billion or 0.4% in August, matching what economists had anticipated. Personal income increased $59.3 billion or 0.5%.
Initial claims for unemployment benefits fell by 16,000 to 453,000 for the week ending September 25. Continuing claims for the week ending September 18 fell by 83,000 to 4.45 million.
Upcoming on the economic calendar are reports on pending home sales on October 4 and wholesale trade on October 8.

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  • wp socializer sprite mask 16px Economic Update   October 4, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   October 4, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   October 4, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   October 4, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   October 4, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   October 4, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   October 4, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   October 4, 2010 | CT Real Estate

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