Home Buyers With Pending Contracts Should Be Careful With Spending During the Holidays

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Sure, it’s an exciting time of year and if you’re in the process of buying a home then it must be even more exciting to be planning for your new home. But there have been a lot of changes in lending practices during the past several years so you can never be too careful.

The reason for this is that in today’s lending environment, banks are extremely wary of whether or not borrowers can actually afford their loans. In light of the housing market crash and subsequent mortgage industry crisis over the past several years, it is important to keep as clear a financial profile as possible.

So once you have done all the paperwork for your loan process, the ratios are done, application is complete, bank statements are submitted and tax information provided – it is best to sit as tight as possible. Particularly for large purchases, be wary of how much your debt-to-income ratio stands to change with your taking on additional debt.

There are ways around it but it depends on your unique situation. We invite you to visit us for more insight on specific ways to manage your holiday spending. We have plenty of advice to give and a checklist that is very useful on how to manage spending during the purchase of a home.

Contact us today!

Happy 2012 Holidays and Warm Season’s Greetings!

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To all our cherished friends, neighbors, family and clients – we are so proud to have been able to work with you and be a part of your lives! As we end this year and turn to the exciting time and events that 2013 holds, we just wanted to take a moment to thank you for all that you bring to our lives.

We have some really great plans in the coming year to bring more success to all your real estate endeavors. And with each transaction that makes it to the closing table in the coming months and years ahead – we know that there will continue to be new and exciting things to follow for all of us.

On behalf of the entire group – Happy Holidays, Season’s Greetings, Peace and Joy!

You’ve Found the House – Now What About the Neighborhood?

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It seems easy enough; spend some time looking at houses and when the right one comes along, the feeling is there and you just know you’ve found home. But there is more that you should consider when looking to buy a home and that is the neighborhood.

There is a lot to be said about neighborhood dynamics and your best chance to be sure you’ve picked the right one is before you’ve signed any paperwork.

Here are some things you can do to scope out the neighborhood:

Drive by at various times of the day and evening. This will allow you to see the area in different angles and show you the dynamics and environment you can expect once you move in.

Stop and meet with neighbors. You will learn about the neighbors, get a feel for the atmosphere and attitudes of most people living nearby and also you can find out if there are any interesting nuances to be aware of in the neighborhood.

Investigate the crime reports by visiting websites that share that and other important market data. Also talk to neighbors to find out how they like living there.

Visit area schools if applicable to you and learn of the programs offered by them or community centers nearby.

Drive around and familiarize yourself with the nearest commercial areas. This will allow you to estimate the length of drives you will need to go on to get various things done (nearest grocery store, post office, police and fire departments, etc.).

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Though an appraiser will share a report with you about the tangible aspects of the value of your prospective home, nothing surpasses the feeling you have when you are in the right neighborhood, among its community members.
As always, for any of your real estate needs, we invite you to contact us and we will be glad to assist you!