Maryland Home Buyer Workshop

When: Wednesday, March 3rd @ 6:30 PM
Where: MetLife Home Loans
9475 Deereco Road, Suite 310
Lutherville Timonium, MD 21093

This FREE workshop is designed to educate potential homebuyers on the process and to produce successful homeowners.

If you or know someone that wants to move into a home within the next one to six months, the best way to jump start your home search is to come to one of our free, no-obligation workshops!!

Seating is limited, so register online to reserve your space.
http://mdhomebuyerworkshop.com

Before you start actually looking for the home that you want to buy, you should get educated about the process, learn how to “hire” a Buyer Agent, get a full pre-approval for a mortgage… and then start actually viewing potential houses to buy!

* Is Now the Time to Buy?
* Home Buying Process
* Financing Your Purchase
* Protecting Your Investment
* WISH or GOAL?

We know that our workshop will save you time, money and worry, even if you’ve owned a home before!

We’re confident that the Home Buyers Workshop will be the best time that you invest during your ‘home-searching’ phase.

Not only that, it’s free, there’s no obligation and you’ll take home a Home Buyer Reference Manual to review at your leisure.

First-Time Homebuyer Tax Credit 2009 (Revised)

Congress Enacts Bigger and Better Home Buyer Tax Credit

A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid.

Enhanced Tax Credit Provides Outstanding Opportunity for Home Buyers

In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers.

But time is of the essence for buyers who want to take advantage of this opportunity.

Below is a link to a comparison of the features for New vs. Old Tax Credit
First Time Homebuyer Tax credit

This is not guaranteed to be ALL features. Please check with your tax professional for further guidance.

A Productive and Comfortable Home Office

With the technology available today, home offices are now a workable way to save commute time and expensive office space. I have heard so many questions about home offices that I thought I’d send you a recap of some information I read recently.

Here are some tips that you will find helpful in setting up a great home office:

• Establish your home office away from main traffic patterns. This not only keeps disruptions to a minimum, but helps you focus on the job at hand.
• Invest in your desk and chair. Be sure to have a desk or worktable that is adequate for the task. Purchase an ergonomically correct chair that fits comfortably under the desk.
• Add phone jacks as necessary so your telephone is placed conveniently within reach.
• Consider high-speed cable for Internet access.
• Prepare adequate storage, file cabinets, and shelves affixed to the wall so they are secure.
• Install soft comfortable lighting that goes beyond the glow from your computer monitor!

Now, enjoy! Your home office will provide you with a comfortable and productive environment.

Please feel free to call or email me if I can answer any questions. I would be happy to follow up with anyone you know who could benefit from the services we provide. Or, if you decide you need more space for your home office, I’d be happy to assist you in finding a larger home.

New or Resale

One of the decisions most prospective homebuyers have to make is whether to buy a brand new house or a previously owned (“resale”) home. Here’s a comparison of some advantages to each choice:

New house:
  Modern floor plans that could include a “great room,” bigger closets, more baths, etc.
  The opportunity to choose upgrades and customize floor coverings, colors and more
  More energy-efficient insulation, windows and heating/cooling systems
  The added protection of a warranty from the home builder

Resale home:
  Existing features, including window treatments and mature landscaping
  Location — existing homes are often closer to metropolitan areas
Established neighborhoods that provide a sense of community
The opportunity to use an existing home as a base to remodel and create a unique property

Things to Consider

When we begin looking for a home, we often get wrapped up in the important details like style, the number of bedrooms and bathrooms, and square footage. But we don’t always consider the quality of life issues that may impact our ability to enjoy the home. Here are some other things you should keep in mind:

* Transportation is an important consideration that’s often overlooked. Consider traffic jams and gas prices, and assess public transportation options and commute times.
* Public safety has loomed larger as a factor in our quality of life. Proximity to police, fire and emergency medical services has become more important.
* Off-street parking is a factor in many areas. Is there a garage? How many cars will it hold? Is there parking available when you have guests or entertain?
* Recreational facilities such as playgrounds, parks, and pools are important to many people. Are they nearby? Is there a fee for these amenities?

Be realistic. There are no perfect homes. Decide what’s most important to you, and make sure you find a home that has the essential features that you require. Be prepared to compromise on some of the items on your wish list.

Buying a home is much more permanent than renting. Purchase a home that you are prepared to keep for a while. Select a home that will be reasonable to maintain, in terms of both utilities and repairs.

Moving Day

Most buyers and sellers consider moving day a real hassle. Here are some things you can do to make it more manageable:

* Cut back on your possessions as you pack. Make separate areas for items to be discarded, sold, or donated to charity.
* Label all boxes and color-code them by room, whether you pack yourself or have help. Otherwise, you’ll never remember what’s in each box.
* Have the outside door locks on your new home changed and the garage door opener reprogrammed.
* Get referrals from your doctors, dentists, and veterinarians for new providers near your new home. Take your files with you instead of waiting for them to be sent.
* Pack a “first night” box that contains everything you’ll need for the first night in your new home. Include bedding, cookware, utensils, toiletries, and anything else you can’t do without before you are unpacked.

Needed at Settlement

Once the contract has been negotiated and the closing papers are about to be signed, you will need additional items for the transaction to close. When you go in to sign the papers, you will need:

* Photo ID, either a driver’s license or passport.

* A cashier’s check for the down payment and closing costs. Personal checks are not acceptable because they take time to clear.

* A hazard or fire insurance policy ready to put in place upon closing.

Needless delays in closing have been caused by lack of insurance or waiting for a personal check to clear. Many buyers think that they will receive the keys to their new home when they go in to sign and pay their money. But it may take a few days past signing for the paperwork to be processed. Plan your moving date accordingly. Check the possession date on your contract.

Pre-Approval: The First Step

One of the most important steps in the home-buying process is being pre-approved for a home loan. Many buyers apply for a loan and receive approval from a lender BEFORE searching for a home. This is called “pre-approval.”

Why is pre-approval important at the beginning of the home-buying process?

* Pre-approval can cut days or even weeks off the closing, because the lender has already conducted its credit analysis and approved you for a mortgage.

* Pre-approval strengthens your offer and negotiating position. A home seller will often choose to accept an offer from a buyer who is pre-approved for a mortgage over one whose financial picture is still in question.

* Pre-approval will determine your price range and narrow your search parameters. Based on your down payment and that pre-approved mortgage amount, you will know how much you can afford before you even start looking for a house.

There is also a significant difference between buyers who are merely “pre-qualified” and those who are pre-approved.

Pre-qualified buyers are those whose lenders have determined how much they can borrow based only on information the buyer has provided to the lender. Nothing has been verified to determine the buyer’s true creditworthiness. The buyer still must fill out a loan application and go through the lender’s approval process.

For buyers who have been pre-approved, the lender has already done a credit check along with verification of employment and deposit. The lender’s pre-approval is a commitment to loan the buyer up to a certain predetermined amount. The only piece missing is the lender’s appraisal of the home to confirm its value.

Buy or Sell First?

The classic dilemma for many homeowners is whether to buy or sell first. There is no “right” answer. It depends on your specific circumstances.

Most homeowners agree that it’s more prudent and less stressful if you sell your existing home before you buy a new one. You can often get top dollar for your home if you are not under pressure to sell. And you’re in a better position to negotiate on the buying side of the transaction. If you have to make an offer contingent on the sale of your home, you often lose negotiating leverage.

If you sell your current home and the home you select isn’t available when you’re ready to move, you may end up with cash in hand in a short-term rental. No one wants to move twice, but it may be well worth it to eliminate risk and have more money to work with.

If you currently own a home I would be happy to provide you with a home valuation so that you know what your home is worth in today’s market. If you provide me with some basic information on your home, I’ll be able to give you a price range. That range will be determined using the information you provide to establish a list of comparable properties in your area as reported by the Multiple Listing Service (MLS). Or I can provide you with a more precise valuation by briefly visiting your home.

Tech Savvy Agent

When you choose a real estate agent, you’re selecting someone to represent you in one of the largest financial transactions you may ever undertake.

As the Internet continues to simplify the way people research buying and selling homes, there are many good reasons to choose an agent who can harness the power of technology to provide you with exceptional service, including:

• Sending up-to-date information by email for you to review at your convenience.
• Providing you with an online home evaluation to stay on top of current market value. 
• Emailing new home listings to you as soon as desirable properties hit the market.
• Delivering e-newsletters to keep you informed about market trends and other important matters.
• Showcasing your home on the Web to help you sell it for top dollar.

Whether you’re thinking about buying or selling or simply want to stay informed about the real estate market, using new technology helps me consistently provide you with timely information and outstanding service.