5 Errors Home Shoppers Should Avoid!!!

Real estate professionals say they keep seeing buyers make the same mistakes over and over again in a home purchase. Among some of the common errors they see:

  • Unrealistic time tables: With a regular sale, “assuming you’re preapproved and it’s straightforward, you can probably do it in 30 days, but 45 is more common,” says Ron Phipps, immediate past president of the National Association of REALTORS®. But he advises home buyers to prepare for 45 to 60 days. And if it’s a foreclosure property, they may encounter lien and title issues that could cause delays stretching that to 60 to 75 days, even up to 90 days. And for short sales, that timeframe will greatly depend on whether the lenders have already agreed to it and a preset price, but it could take anywhere from 45 days to even up to nine months, Phipps says.

 

  • Ignorance with financing: Home buyers should learn more about the mortgage process, learn the terminology, and know what questions to ask in shopping around for the best mortgage rate. For example, Carolyn Warren, author of “Homebuyers Beware,” cautions buyers to never tell a lender, “This is my first time, and I don’t know how it all works — and I need you to guide me through the process,” she says. “It’s like putting a sign on your forehead that says, ‘Charge me more.’”

 

  •  “Trash talking” when negotiating: If the home is painted pink and the buyer insists it needs to be repainted, he could risk jeopardizing negotiations. Instead, Phipps suggests that when making an offer, buyers should stress what they like about the home. “Don’t make it adversarial,” he says. A price reduction should be talked about in terms of what the home is worth to that buyer, he says.

 

  • Getting in over their heads: Buyers may be tempted to stretch their budget in order to get the house of their dreams. Phipps suggests buyers don’t stretch themselves so thin that they miss out on having a reserve fund in case they need to make any unexpected repairs once they move in. “In most homeownership situations, there are going to be some unforeseen circumstances,” Phipps says. “So you want to make sure you have some funds behind you.”

 

  • No Reserve Fund:  After finally finding that “dream home,” what buyer isn’t tempted to stretch as far as possible — and drain all available savings — just to make the numbers work? It’s one of the big homebuyer mistakes, Phipps says.Often, buyers fall in love with a property, and they try to rationalize the decision, he says. “You need to be disciplined about it.”Too often, buyers set a price range and then fall in love with something that costs more. So they figure they’ll borrow the difference, Phipps says.But you need a reserve fund — something you hold back to address unexpected problems, like the refrigerator that quits in mid-July, or the “like-new” water heater that dies the day after you move in. Or the realization — after seeing the neighbors sunbathing once too often — that you need a privacy fence, pronto.”In most homeownership situations, there are going to be some unforeseen circumstances,” Phipps says. “So you want to make sure you have some funds behind you.”

Article from http://realestate.glozal.com/profiles/blogs/5-errors-home-shoppers-should-avoid

If you do end up choosing me for any or all of your real etate needs feel free to contact me at (310)686-4688 or email me Tuba@remaxpv.com. Also dont forget visit my business and facbook page which are both linked above in my main menu!!! 

Hello blog readers!!!

Hello fellow bloggers and blog readers,

I just want to take this time to tell you a little bit about my self, my name is Tuba and I am a Real Estate Consultant with RE/MAX Palos Verdes Realty. I have been an agent for over 25 years, I am also a member of the exclusive RE/MAX Hall of Fame, as well as the prestigious Platinum Club. I rank in the top 1% of agents in the business and my sales record will prove it. So if you are looking for a realtor you have found the right one. I am here to service all of your real estate needs so feel free to comment on this blog post if you are looking to buy or sell a home. :)

Enjoy this amazing pasta salad recipe and dont forget my service is almost as good as this salad!!!

1 12 tbsps white sugar
1 tsp salt (taste)
1 12 tsps black pepper (ground)
1 tsp onion powder
1 12 tsps dijon mustard
2 cloves chopped garlic
1 12 cups fresh basil (chopped)
12 cup fresh oregano (chopped)
14 cup fresh cilantro (chopped)
2 tsps hot pepper sauce (g tabasco)
13 cup red wine vinegar
12 cup olive oil
1 tsp lemon juice
4 ozs grated parmesan cheese
4 plum tomatoes (roma, chopped)
6 green onions (chopped)
4 ozs black olives (minced)
16 ozs bow tie pasta (farfalle)
12 cup pine nuts
1 cup shredded mozzarella cheese

Directions: 1. In a large bowl, whisk together the sugar, salt, pepper, onion powder, mustard, garlic, basil, oregano, cilantro, hot pepper sauce, red wine vinegar, olive oil, lemon juice, and Parmesan cheese. Add the tomatoes, green onions and olives to the bowl, and stir to coat. Refrigerate.

2. Bring a large pot of lightly salted water to a boil. Add the pasta, and cook for 7 minutes, or until tender. Drain, and rinse with cold water to cool. Add pasta to the bowl of dressing, and mix well. Top with mozzarella cheese and pine nuts. Refrigerate for at least 1 hour before serving.

US Cities with the Smallest Homes!

 

Six of the 10 U.S. areas with the smallest homes are in the Midwest, based on the median square footage of homes for sale on Realtor.com in September.

Realtor.com reported that the median size of homes for sale in Washington, D.C., was the smallest in the country that month, at 1,000 square feet. The nation’s capital was also the only area to post a median two bedrooms for the typical home — every state in the top 10 posted a median three bedrooms.

The six Midwestern states among the top 10 with the smallest homes are: Michigan, Iowa, Ohio, Illinois, Missouri and Wisconsin. Two of the states are in the West: Hawaii and California. One Northeast state is on the top 10 list: Maine. Washington, D.C., is the only area in the South to make the list.

The two areas at the top of the list — Washington, D.C., and Hawaii — also had the highest median list prices of the bunch: at $432,500 and $575,000, respectively.

The two areas varied widely in lot sizes. While Washington, D.C., had the smallest median lot size among the top 10, at 2,375 square feet, Hawaii’s median lot size in September was 21,778 square feet. Maine had the biggest lot size among the top 10, at 44,431 square feet, followed by Wisconsin at 30,000 square feet.

Michigan had the lowest median list price among the 10, at $118,900. The median price data reflects all for-sale property listings on Realtor.com, including land, single-family homes, condos and co-ops.

 

To read the complete article please visit http://realestate.glozal.com/profiles/blogs/top-u-s-cities-with-smallest-homes

Picture curtosey of http://www.smallhousesnow.com/