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(마이애미 콘도) 5 mistakes first-time homebuyers make – Florida Realtor News (마이애미 콘도)

(마이애미 콘도)

NEW YORK – July 22, 2014 – Real estate experts say they see first-time buyers committing the same mistakes, time and time again. Here are some of the most common ones, as identified by experts in a recent CNBC article:

1. They’re unprepared to compete against all-cash offers. Buyers need to be ready to make a quick decision if their housing market is heating up.

Buying a home is “really like finding a job – it’s going to take a lot of time to prepare,” says Cara Pierce, a certified housing counselor with ClearPoint Credit Counseling Solutions. “That way, when the deal comes along, you’re ready to pounce on it.”

Housing experts say buyers should have already saved as much as possible for a downpayment, repaired any credit report blemishes, and get preapproved for a loan as they start their house hunt to put them in a better position to compete.

2. They place a car ahead of the home. Lenders are going to scrutinize applicants’ debt-to-income ratio when assessing how well they can afford a mortgage payment. Consumers’ debt has gone, on average, from $40,000 in 2010 to $51,000 today, according to David Norris, president and COO of loanDepot, a non-bank mortgage lender.

“It would be much easier to own a home if you can show a history of saving and not have gotten yourself into too much debt,” Norris told CNBC.

3. They place too much emphasis on online loan information. Online sites can be good for finding out general information about loan products and estimated costs, but experts recommend visiting mortgage lenders face-to-face to help demystify the process and get advice about the buyer’s specific situation.

“Go to different places and talk to loan officers to get a feel for what the differences are between similar types of loans,” says Pierce. “Sometimes a company won’t charge an origination fee, but then the interest rate is higher … and in some cases you can put many of the upfront costs – closing costs, title insurance – into the loan, which makes your balance larger.”

4. They rely too much on online home values. Some real estate websites are giving buyers a false sense of home values.

“If a buyer believes that the actual value of the property is $1.1 million [as estimated on an online website that advertises home listings] when it’s really $1.3 million, it’s a real disservice to the client,” says John Barrentine, co-founder and CEO of RED Real Estate Group. “You really should [spend time] with someone who understands the market, someone who’s there day in and day out.”

Homebuyers can get the best feel of the market by working with a real estate agent and driving around neighborhoods, so they can get a sense about homes that may be less valuable or even more valuable than suggested online.

5. They forgo the home inspection. About 10 percent of homes recently purchased weren’t inspected by a home inspector, according to Bill Loden, president of the American Society of Home Inspectors. Some buyers were trying to cut down on the costs of hiring an inspector to investigate a home – which usually averages about $450 – but defects uncovered later could potentially result in the loss of thousands of dollars.

“It takes a trained eye to be able to see the problems that can exist in a home,” Loden says. “The inspection can also give the first-time buyer a bit of a schooling on the house and how to maintain it.”

Buyers should also be prepared to ask questions about conditions that are common to specific areas, such as radon in Midwest; sewers in California; and active clay soils in Dallas that can lead to foundation issues. The home may require additional inspection from a specialist to rule out potential problems.

Source: “8 Biggest Mistakes First-Time Homebuyers Make,” CNBC (July 17, 2014)

© Copyright 2014 INFORMATION, INC. Bethesda, MD (301) 215-4688

(마이애미 콘도)

About jennyformiamihome

성심껏 도와드리겠습니다. 연락주시면 바로 상세히 답변드립니다. Jenny Shin / 신정미 부동산 (Broker's Real Estate) 남부 플로리다 마이애미 지역 한인 부동산 주택매매 렌트 싱글하우스 타운하우스 콘도 브라워드 카운티 마이애미 데이드 카운티 포트로더데일 웨스턴 코랄스프링 도랄 Rent or Buy single house, town house and Condo Miami Dade County / Broward County, fort lauderdale, coral springs, copper city, weston, doral 1398 SW 160TH AVE. SUITE 105 Weston, FL. 33326 Direct : 954-551-0236 Office : 954-384-1616 Fax : 954-697-0447 E-mail : jenny_shin62@hotmail.com

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JENNY SHIN PROFILE


Jenny Shin / 신정미 부동산
(Broker's Real Estate)
1398 SW 160TH AVE. SUITE 105
Weston FL 33326
Direct : 954-551-0236
Office : 954-384-1616
Fax : 954-697-0447
E-mail : jenny_shin62@hotmail.com

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