 |
|
 Be familiar with the process.
Buying a home can be complicated. Take time to learn about the real estate climate and mortgage process in your area. If you know what to look for, you’ll get a better deal.
Get the facts.
Mortgages can look identical; be certain of the type of loan you are getting along with its conditions. Try not to miss any small subtle differences that could cost you thousands of extra dollars later.
Work with a broker or lender that has multiple investors.
If you are looking for options, talk to a broker who works with multiple lenders. With more options, it will be easier to find a program that suits you, especially if you have spotty credit.
Be honest.
Don’t hide anything from your lender. Most people have had financial troubles at some point and have less-than-perfect credit. Your lender will try to help, if possible, so give them the chance to do so.
Don’t make any large credit purchases prior to applying.
Your total debt determines whether or not you get the loan, and your total monthly payments have to be below a certain percentage of your gross monthly income. If you can avoid it, don’t take on new debt until after you’ve purchased your home.
Know your financial situation.
Review your credit report and if necessary, take steps to correct any blemishes. Keep your payments current because one late payment can have a big effect on your credit report, as well as your new mortgage. Make sure you have what you need before you talk to a lender. It will make everything better and probably less expensive.
|
|
 |
| Is "For Sale by Owner" For You? |
 There are a several reasons why homeowners try to sell their home themselves, but the main reason is to save money. If you successfully sell your home yourself, you can pocket several thousand dollars that you would otherwise pay to a real estate agent. And selling a home is easy, right? Wrong!
Do you really know how to market your home and get buyers through the door?
FSBOs tell us the biggest problem they have is their homes suffer from a lack of exposure. Most of them paid several hundred dollars for a weekend classified ad in the daily paper. They also bought a “For Sale By Owner” yard sign. But unless the market was sizzling, few got any buyers through the door. Why?
The fact is, most legitimate buyers work with real estate agents! And real estate agents research the Multiple Listings Service to find homes for the buyers. Unless you are using a real estate agent, you’re not in the Multiple Listing Service. This exposure alone is worth a lot of money.
The other problem FSBOs have is the buyers who are not working with real estate agents are usually not the serious buyers. People who are ready to buy use agents because they don’t have to pay their agent a fee, and agents have the resources buyers need to get good homes at good prices. Unfortunately, most of the buyers that are left over are merely “tire kickers” and “low-ballers”. Sure, you may get a few people through the door, but most of them will walk in and out without any serious interest. Those who do might give you offending offers.
Most importantly, most real estate transactions are broker-to-broker (between buyer and seller agents). Frankly, most buyer agents do not like to bring their buyers through your door because they’re not going to get paid! So you’ve eliminated over 90% of the qualified buyers who are seriously looking to buy.
On top of the lack of exposure, do you even have the time to commit to this?
One of the keys to selling your home effectively is accessibility. Most likely you work full time. If you’re not around to show the house, you are going to have a very difficult time. Real estate agents spend a lot of their time at their listings . . . this is what they do for a living! If you’re not around, you are not going to sell your home.
Are you versed on the legal paperwork? You are exposed to a lot of liability!
Are you completely informed about the legal aspects of selling your home? Are you fully confident you are using all of the necessary (and correct) forms? Not only that, is your disclosure 100% accurate? Are you capable of handling the legal contracts? Any errors or omissions in these contracts can result in legal problems! If you’re not 100% confident, it’s wise to hire a professional real estate agent.
As your local real estate professional, I am available to answer any of your questions about selling your home or helping you find the “right” home. You can call me at any time for advice, and please remember that you are no obligation or pressure of any kind. I would very much like to help you.
|
|
|
|
|
|
FREE 1st TIME HOME BUYERS SEMINAR!
You CAN buy a Home or
2 - 4 Income Units TODAY!!!
It’s a Buyer’s Market - Huge inventories of homes with
LOW PRICES make this the right time to buy!
CLICK HERE FOR MORE INFORMATION!
SATURDAY – September 26th - 11:00 am to 1:00pm
|
|
|
| Choosing The Right Moving Company |
 Hiring the right moving company can alleviate some of the stress associated with moving. So, how do you know which company to choose when preparing for a move?
Most companies have websites that list their services, customer reviews, and overall policies. Check out a few different websites and contact the businesses that best suit your needs.
Friends and family who have recently moved can also be a valuable resource. Ask which companies they do and do not recommend. Both lists are important when making a decision.
You can also contact the Better Business Bureau to see if any of the companies on your list have generated any reports. These reports will usually contain grievances. It is rare for a company to satisfy every customer, so make sure that the grievances were resolved and the customer was satisfied.
Another popular resource when moving is the website MovingScam.com. This site is dedicated to revealing moving scams before they happen to you. Browse the articles and the message board to see if the moving company you want to use is mentioned.
In addition, the Federal Motor Carrier Safety Administration lists the following tips to help you identify rogue moving companies:
- The mover doesn't offer or agree to an on-site inspection of your household goods and gives an estimate over the phone or internet—sight-unseen. These estimates often sound too good-to-be-true and they usually are.
- The moving company demands a large cash deposit before the move.
- The company’s website has no local address and no information about licensing or insurance.
- Offices are in poor condition or nonexistent.
- On moving day, a rental truck arrives rather than a company-owned.
If you do your homework and find the right company, your moving experience might turn out to be a good one.
|
|
|
| Homeowner's Insurance Explained |
Although no one wants to dwell on negative thoughts, when it comes to financing a home, it is essential to be prepared for the worst case scenario. All lenders require you to have theft, fire and liability insurance on properties to secure their loans. Depending on where you live, you may also have additional requirements such as flood insurance if you live in a designated flood area.
Generally, homeowner’s insurance offers protection in two areas. Casualty insurance covers losses or damages related to fire, theft and weather hazards. Personal liability insurance provides financial protection against someone who is injured while on your property. Other types of coverage can also be added.
The most basic homeowner’s policy covers the following eleven perils: theft, vandalism, explosions, falling aircraft debris, vehicle collisions, smoke damage, fire or lightning, civil commotions, windstorm or hail, malicious mischief, and glass breakage related to the structure. Homeowners should consider the lender’s minimum requirement when deciding on the amount of coverage that is needed. The minimum is usually the property’s purchase price less the value of the land. Additional coverage above that level is optional.
If you're looking for homeowner's insurance, you should base the amount of coverage on the replacement cost of the entire structure in addition to the value of your personal property. Make sure you do not insure your home for the current market value, which is the value your home would bring if sold today.
To estimate the replacement cost, multiply the square footage of floor space by the current construction cost-per-square-foot for similar homes. To find this information, try contacting a local builders association. For your personal property, make an inventory and check out current selling prices online. After you find a good insurance plan, it's very important to update your coverage when home market values change or if you make a major improvement your property.
|
|
|
|
 Since buying a home is one of the biggest purchase decisions you will ever make, here are some tips to help you make a solid decision:
How is the neighborhood? Many new home buyers are coming from the rental world where neighbors typically come and go. When you move in to your new home, your neighbors could be yours for a long time, so choose wisely. If you like peace and quiet, but see your neighbor has a drum set on the front porch, it could be time to reconsider.
You should take into consideration the proximity of major roads, schools and stores. Use your intuition about questionable properties or any general uneasiness about the environment – chances are you're better off looking for another home.
|
|
|
| Market Snapshot - Real On Time MLS Data |
|
 This month we have again included the latest version of Market Snapshot, an award-winning, real-time MLS graphical report. The industry’s most current online real estate report has a new look and layout which offers even more market information on one page. Key comparative MLS data charts, including Asking price VS. Selling Price, Selling Times, and Neighborhood Inventory, are now available on the front page, through convenient collapsible sections. These enable viewers to remain in one web window and not have to toggle back and forth to compare data. You can have up to 100 of the closest active and sold listings displayed on the map for the Seller’s Market Snapshot as well as the Buyer’s.
|
|
|
|
NO BONES ABOUT IT!
SUPERIOR SERVICE - SUPERIOR RESULTS!
Keller Williams LA Harbor Realty
Catherine Bennison - Realtor Associate
Direct: (310) 707-2162
Cell: (310) 748-7889
Fax: (310) 519-1882
E-Mail: CBennison@KW.com
Website: www.CatherineBennison.com
DRE# 00946724
|
|
|
|
September 2009
In This Issue:
|
|
 |
Catherine Bennison's
South Bay
Real Estate Newsletter
|
|
|
Catherine & Winston
Direct: (310) 707-2162
Cell: (310) 748-7889
Fax: (310) 519-1882
E-Mail: CBennison@KW.com
Website: www.CatherineBennison.com
Get A FREE Analysis of Your Market Area
MLS Market Snapshot
This Month in Real Estate
Click to View Video HERE
______________________
MY FEATURED LISTING
2181 Grenadier Dr. San Pedro
$895,000
3 Bedroom 2 Bath Home
Elegance in Upper South Shores. Wonderfully upgraded, two level,view home on a very quiet street to street lot. Big Ocean/Catalina views from every single room!!! Enter the front door into the open & bright living room/great room. Walk out the sliding doors on the balcony & enjoy the sunsets and cool ocean breezes. The well appointed master bedroom and bath are also on this level. Kitchen updated with granite counters. On the lower level is the family room, also with a brick fireplace, two bedrooms, laundry facilities and bath. Both baths have been exquisitely remodeled and also have Catalina views. The large, private backyard is perfect for entertaining and is spa ready
|
|
|
Amazing Homes: Windsor Castle
|
|
|
Windsor Castle, home of Queen Elizabeth II, is not only the largest inhabited castle in the world, it has had continuous occupation for over 900 years. William the Conqueror originally built the castle from wood and over the years it has been transformed to a massive stone fortress. The castle has around 1,000 rooms and sits on 13 acres of land. Windsor Castle has had a rocky history; in 1649 a bill was proposed in the English parliament to destroy the castle--it was defeated by one vote. In 1992, a fire broke out at the castle that damaged over 100 rooms taking 1.5 million gallons to douse the flames. Currently, the castle serves as the Queen’s royal palace and weekend home. It is also used for state banquets and serves as a major tourist attraction.
|
|
|
Mortgage Calculator- How Much Home Can You Afford?
|
|
The first step in shopping for a home should be determining how much home you can afford. The general rule is that the payments on your new home shouldn't account for more than 30 percent of your overall income.
Your income, credit rating, current monthly expenses, down payment, and the interest rate will determine the final total that you will be able to afford. If needed, find a housing counselor who can help you figure out how to manage and pay down or pay off existing debt, and give you a solid foundation of information for your plan.
The amount you pay for a home is based on several factors. You are the best judge of what you can comfortably pay every month. Take some time to calculate all your expenses - to include what you spend daily on lunches, coffee, transportation, and other costs that otherwise go unnoticed. Then add in local property taxes and anticipated maintenance of your home, or other improvements/additions that may be necessary in the near future.
Lending institutions use the following criteria to calculate what size loan you are qualified for. The three main things they look at are: 1) Your monthly payments as a percentage to your income; 2) How much cash you have for the down payment and closing costs; and 3) Your credit rating.
|
|
|
Doggie News
|
|
DoggieNews.com is a weblog publishing news about dogs, the pet industry, new products, and other quirky canine stuff.
Our target audience consists of folks who own dogs, and who seek information to help them make purchasing decisions, health and entertainment choices, and to keep abreast of legislative and regulatory changes that might affect their dog ownership.
Got News?
Please share your dog and pet related news concerning your company or organization. To do so, please write up a news article, and submit it to us at the email address below. We will consider it for publication in our monthly newsletter.
cbennison@KW.com
REAL ESTATE NEWS
Produced By:
|
|
|
