Richard McDeid's (ourhome) Blog

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Real Estate Broker/Owner - Our Home Real Estate
RECENT BLOG POSTS
Mistake #1. Using a real estate agent instead of a Realtor When you're looking for help buying or selling property, it'simportant to remember that the terms "real estate agent" and "Realtor"are not synonymous. Realtors can provide an extra level of service andto be a Realtor you must be a member ...
12/29/2007
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Stop Calling Ads! A word of caution - agents create ads solely to make the phone ring!Many of the homes have some drawback that's not mentioned in the ad,such as traffic noise, power lines, or litigation in the community.What's not mentioned in the ad is usually more important than what is.For th...
12/29/2007
Don't Be Pushed Into Any House Your agent should show you everything available that meets yourrequirements. Don't make a decision on a house until you feel thatyou've seen enough to pick the best one. Go to the Multiple Listingcomputer with your agent to make sure that you are getting a COMPLETEl...
12/29/2007
Play the Game of Nines Before house hunting, make a list of nine things you want in the newplace. Then make a list of the nine things you don't want. I call this"NINE OF THIS AND NONE OF THAT". You can use this list as a scorecardto rate each property that you see. The one with the biggest scorew...
12/29/2007
Sell First, Then Buy If you have a house to sell, sell it before selecting a house to buy!I haven't seen a contingent sale work in the last 3 years, unless it'swith a new home builder who has other houses to sell and can afford toput one on a contingency. Let's pretend that we go out looking fort...
12/29/2007
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Get "Pre-Qualified! Do you want to get the best house you can for the least amount ofmoney? Then make sure you are in the strongest negotiating positionpossible. Price is only one bargaining chip in the negotiations, andnot necessarily the most important one. Often other terms, such as thestrengt...
12/29/2007
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Your Credit History As part of the loan application process, virtually all lenders will want to see a copy of your credit report. The report will list all your long-term debts (credit cards, mortgage payments, automobile and student loans, etc), as well as your payment history. If you don't have ...
12/10/2007
Getting Your Finances in Order A crucial step in starting your search for a new home is having a clear idea of your financial situation. By getting a handle on your income, expenses and debts, you'll have a much better idea of what you can afford and how much you'll need to borrow. For lenders to...
12/10/2007
How Much Can You Afford? Understanding how much you can afford is one of the most important rules of home buying. Depending on your individual situation, your budget can affect everything from the neighborhoods where you look, to the size of the house, and even what type of financing you choose. ...
12/03/2007
All About Adjustable-Rate Mortgages Adjustable-rate mortgages (ARMs) differ from fixed-rate mortgages in that the interest rate and monthly payment can change over the life of the loan. ARMs also generally have lower introductory interest rates vs. fixed-rate mortgages. Before deciding on an ARM,...
12/03/2007
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Richard McDeid

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