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September 2008

Found 5 blog entries for September 2008.

I am a Buyer Specialist with the Mark Z. Real Estate Team here at Coldwell Banker. 

I find many home buyers are not aware of the steps mandatory to make an offer on a home, condo or vacant land.

The very first step before looking at properties, if you are looking to take out a loan for the property, is to speak with a reputable mortgage lender. This will allow both the home buyer and Realtor to know what price range they should be looking in.

Working with a reputable mortgage lender is a must, especially in this market! With all the crazy things going on right now with shady lenders. Sellers are sceptical and want to be sure the offer they accept on the purchase of their home has no issues with financing. Sellers may even ask for a second mortgage

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Buying a new home?  Paying off your debt to help raise your credit score could be the wrong thing to do.  Most credit bureaus not only review how much debt you have, but also look at your credit card debt to see how much you've borrowed in relationship to your credit limit.  If you have 4 credit cards with a credit limit of $5,000 each and your balance on each is $4,500, taking $9,000 and paying off two of them may not help you score as much as you think.  A better way may be to take that $9,000 and pay each of the four lines down to $2,200.  When the credit report companies look at your credit they will see you as a potential buyer  who has four accounts being used wisely as opposed to a borrower who has run his two credit cards to near their maximum

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The process of moving, even a short distance, can be a daunting one. In all the excitement of selling your old home and purchasing another, you may have neglected to consider the sometimes extensive logistics. Here are a few things to consider before you even load the vans. The period before move in day is actually a great time to complete any repairs and renovations you’ve decided to do on your new home. By giving workers a space devoid of furniture and knickknacks, you’ll make it more convenient for them, and you’ll avoid living with the dust and noise while the work is getting done. You also won’t have to worry about valuables getting damaged or stolen. Before you move is also the time to take care of the details of the move with your utility…
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I’m often surprised at the number of both buyers and sellers out there that are unfamiliar with the home inspection process. Although a home inspection should not be used as another bargaining tool, it is highly unlikely that you will not uncover at least the amount you paid (Average home inspection is $300), in repairs that the Seller will take care of prior to closing for you.

What I mean by that is, the average home inspection will cost you $300, and lets say your home inspector finds some minor things that need to be repaired. Usually the Seller will cooperate and get those items fixed for you prior to closing. Had you not engaged in a home inspection you most likely would have paid a lot more than $300 to fix the minor repairs. Money goes quick and…
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Let’s face it – if you can’t borrow, you probably can’t buy. The time to establish a great credit score is before you need it to work for you, for example, before you’d like to purchase your first home. If you are young and have already talked to a mortgage broker, they may have told you that you don't have bad credit, but you also don't have good credit. In other words you have no credit. You need to start establishing credit lines. Luckily, there are many simple ways to build credit to prove to lenders that you are a good loan candidate.

The first step for many is to get a credit card with a large, reputable credit card company or large chain store. By borrowing limited amounts (generally less than 30% of your credit limit) and paying bills on time,…
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