Valuing a Property as a First Time Homebuyer

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First time homebuyers can make the task of finding the right home for sale a lot less complicated by having an awareness of the steps in the home buying process. Once you get to know these easy steps, you will be able to make the best new home purchase to suit your needs and budget. Valuation of the home or determining what the home is worth from your perspective is one of the most important steps in the home buying process.

The true value of the home does not only consist of the price. Since value depends on the individual, identifying the elements that you would want to have in your new home can make the search among the many homes for sale a lot easier. The true value of the home is based on what it is worth to you and the benefits that you will get from investing in that piece of real estate property.

When you begin the valuation process of any of the homes for sale, the first step that you can take is to review its actual dollar cost and compare it to the other homes for sale in the same neighborhood. This can be done by studying the MLS listings of the area and discovering how much the seller had paid for the home, if possible. Finding out how much was paid will give you a baseline amount to use in your assessment, whether or not it is lower or higher than the seller’s current asking price. Other factors that you have to take into consideration is when the seller had bought the home because if more than 3 years has elapsed, an estimate based on the purchase price will no longer be accurate.

The second step that a home buyer can take is to figure out how much repair work is needed and what the cost will be. Ask yourself a few questions like “If I move in next week, what has to be done to make it livable and lovable?” or “What needs to be fixed and how much will it cost?” Sometimes, the cost of repairs is factored into the asking price but if it is not, it is to your advantage to know what the add-on expenses you may be facing in the near future.

The third step in determining the value of the home is to project what it may be worth in three years, ten years or twenty years. Is the home located in a brand new subdivision or an historic part of town? What is the average appreciation value of the home year to year in that particular neighborhood? The appreciation value may be a powerful ‘pull factor’ for a particular property, especially if you are a first time homebuyer in a buyer’s market.

When deciding which among the many homes for sale to purchase, try to look at the different properties available in the various neighborhoods to see what best suits your needs and your budget. Finding out what the true value of the home that you are interested in goes far beyond the price of purchase. There is more to a buying a new home that just what simply meets the eye. Find out more about the current homes for sale in the different neighborhoods and what benefits you can get as a first time home buyer.

Finding the Best Home Loan in Tustin

Finding the Best Home Loan in Tustin
Finding the Best Home Loan in Tustin
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Knowing how to get the best home loan can help make your journey to home ownership memorable. For most home loan borrowers, going through a long list of lenders and comparing the loan products that they offer is cumbersome. How should you find the best from the pack?? Here are important guidelines that can help you in finding the best home loan in Tustin.

Check whether the lender offers fixed or adjustable mortgage rates. Fixed interest rate home loans require the borrower to pay a fixed amount of money for the entire duration of the loan. Part of this amount covers the principal and the interest. However, there may be fluctuation in taxes and insurance rates among others. With an adjustable rate mortgage, the interest charged fluctuates over the duration of the loan. A reputable broker of the caliber of Jerry Stiles can assist you weigh your available options.

Consider if you really want to pay for points. In simple terms, a point represents one percent of the total mortgage. Because most home-owners plan to stay in their homes for many years, the initial cost of your loan affacts the short term and long term financial goals. You may talk with Jerry Stiles and make the right decision.

Moreover, it’s essential that you know how much you should expect as closing costs. This is the amount that is paid when the transaction for purchasing the house is finalized. Jerry Stiles will help you work out the amount that you should pay.

Home loans have various down payment requirements and related costs. Jerry Stiles will review the requirements so you can make the best decision for your situation.

However, there are important traits to consider a mortgage broker. Experienced professionals such as Jerry Stiles can be what you need for a smooth experience. Those who have guided other people who are interested in buying homes successfully are well placed to offer you the help that you require. In the long run, you will find the best home loan in Tustin with the professional help of Jerry Stiles.


Do You Know the Value of Your Home?

Do You Know the Value of Your Home?
Do You Know the Value of Your Home?
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Most home owners in Tustin, California don’t really know how much their properties are worth. This becomes a huge challenge especially when planning to put it up for sale. It’s important to know that quoting a lower price than the market rate would mean that you are selling the house at a loss. Conversely, a very high quote could mean that nobody will be interested to buy it. This is why the services offered by Jerry Stiles comes handy.

Jerry Stiles, a real estate agent in Tustin, California can estimate the value of your home using different approaches. The location, the current market condition and hordes of other underlying factors are some of the issues which these professionals will take into account.

It’s imperative that coming up with a fair value of a home entails science and art, so it is helpful when you think of working with a realtor with a comprehensive knowledge of the locality and who has sold homes that are similar to yours. Jerry Stiles looks at homes that are in the market which are yet to find a buyer. He does this so he can determine what the actual worth of your home is.

This comparison doesn’t just look at the size and the number of the baths and rooms that the house has, but also the overall condition of the home, the neighborhood and how close it is to basic amenities. All these are quite complex and its only through working with Jerry Stiles, an experienced realtor in Tustin, that a home owner can get the best estimate of the value of the home which is being sold.

Nonetheless, listing a house for sale is not a walk in the park. There is a lot of preparation that needs to be done as the potential buyers will be asking hard questions and will need quick answers. Additionally, Jerry Stiles knows the kind of questions to ask the buyers (or their representative Agents) who are inquiring about the house so as to gauge their level of seriousness.

Having an agent to represent you during an open house is indeed one of the best ways of setting boundaries. In certain instances, the buyers may ask for the justification of the price that you have quoted for the house on sale. In normal terms, this is something that you will find it cumbersome to answer. However, when you seek the assistance of real estate agents, there is no doubt that the kind of answers that they will provide will leave the potential buyers happy.

For more information regarding Jerry Stiles, click on their website and Facebook page below!