Constance Hall REALTOR®
Howard Hanna William E . Wood
Is It A Good Time To Buy?
Generally speaking, if you’re financially qualified, your timing couldn’t be better. In fact, few markets have ever offered the kinds of opportunities that currently exist for first-time home buyers, because:
• Mortgage rates are historically low. You might be able to lock-in at a very low rate on a 30-year mortgage!
• There is a large listing inventory generally – i.e. plenty of homes to choose from
There’s only one way to find out: go to your bank and/or another lending institution and allow them to perform a credit check and analyze your financial situation. You might be surprised to know that there are many renters who financially qualify to own their own homes, but don’t realize it. Are you in this category? It would be a shame if you wanted to own your own home but didn’t know you could.
So the bottom line is that if you are currently renting but really want to own a home, this is a fantastic time to buy. And again, you may qualify to buy and not know it. So talk to your knowledgeable, experienced REALTOR® about your options. I will not only be able to guide you towards getting all the financial support you qualify for, but you’ll also get the scoop on the many and various great real estate opportunities currently available. Not only that but in case you didn’t know, all the work that I, Your REALTOR®, do to help you find, finance, and the purchase process of a home won’t cost you a penny – it’s all paid for by the seller!
If you’re like most people, buying a home represents your single biggest investment – and debt. As such, the home buying process can be one of the most exciting, but sometimes also stressful, experiences you ever go through. This may be true whether you’ve bought many homes or you’re looking to buy your first, whether you’re in the market fora new primary residence, an investment property or that perfect vacation getaway.
1. Goals, Options, Plan
Given that buying a home is such a big step, it’s all the more important for you to educate and prepare yourself as much as possible in advance. This means clearly determining why you’re buying and what kind of home you’re looking for. And because buying and financing a home are so closely related, it also means examining your current financial situation and projecting how much you can afford.
Once you’ve answered these questions, even tentatively, you’ll be in a better position to research your housing and mortgaging options, as well as create an action plan and timelines for moving forward. You may want to do this yourself, but you may also benefit by consulting me as your REALTOR® right from the start.
2. Contact Constance Hall as Your REALTOR®
Call/Text: (614) 598 - 3277
3. Get Pre-Approved For A Loan
Generally, it is recommended that you get pre-qualified for a loan before you start viewing homes with the serious intention of buying. The preapproval process involves meeting with a lender and authorizing them to examine your current financial situation and credit history. On the basis of the examination, your lender will provide you with a document that details how much you can borrow to buy a home. Central to the buying process is finding the right lender and mortgage product. There are many different kinds of lending institutions, offering a wide range of loans and special programs. In fact, you should diligently research your options and shop around for a mortgage with as much care as you take when looking for a home.
Generally, there are two ways you can go: a fixed-rate mortgage with an interest rate that remains the same for the life of the loan, or an adjustable-rate mortgage (ARM) with a rate that adjusts up or down, depending upon economic trends. Another main consideration with a fixed-rate mortgage is the term. Shorter term mortgages, like a 15-year, have lower rates than a 30-year. The shorter term and lower rate mean that you’ll pay less interest over the life of the loan, although your monthly payments will generally be higher.
A Pre-Approval Letter is a letter from a mortgage lender indicating that a buyer qualifies for a mortgage of a specific amount. It also shows a home seller that you’re a serious buyer.
The benefits of pre-qualification include:
• You’ll have information about what you can afford and be able to plan accordingly
• As a qualified, motivated buyer you’ll be taken more seriously when you make an offer on a home
• Lenders can tell you whether you qualify for any special programs that will enable you to afford a better home (particularly if you’re a first-time buyer)
4. View Homes And Select THE ONE
Simply put, a key component to the home search process is knowing what you’re looking for. Among other things, that means distinguishing between “must-haves” and “like-to-haves”. However, it’s also important to view homes in person. While their property details may seem similar online, homes can actually be very different in terms of layout, design, workmanship and other aspects.
5. Make An Offer And Negotiate With The Seller
Now that you’ve found the home you’d like to buy, it’s time to make an offer. Once you’ve written the offer, your REALTOR® will present it to the seller and/or the seller’s representative. Generally, though the seller can accept your offer, reject it, or counter it to initiate the negotiation process. Negotiations can involve many factors relating to different market conditions.
6. Secure Your Financing
Once you have a pending agreement, it’s time to go back to your chosen lender to finalize your mortgage details so you can close the deal. This means finalizing your down payment, interest rate, regular payment schedule and any other financial conditions associated with the closing.
7. Close The Deal
The experience of taking ownership is a positive transition.
So when you decide to buy a home, or if you hear that any of your family and friends are looking to buy, be sure to take advantage of the knowledge, experience, and professionalism of
Your Local REALTOR®
I am excited to be able to share my experience and expertise with you whether you are buying or selling Williamsburg real estate. Because of my enthusiasm for the area, I am confident I can assist you with all your Williamsburg Virginia real estate needs. You can call, text, or email, and even if it's after hours I will respond quickly. I will work for you 24/7 to take care of you and your family. Thank you for your consideration in choosing me as your real estate professional!
Number of bedrooms:
Number of bathrooms:
Age of property:
(e.g., waterfront, view, large lot, pool, fireplace, basement, garage size, built-in vacuum, distance to school, additional room preferences, etc.):
Take a look at what is going on in the Real Estate Market in Hampton Roads, Va. Rather you are looking to buy or sell this will be useful information you.
Come out Saturday 1 -3 Home has 1,840 sq.ft of comfortable living space with 3 generous size bedrooms. Includes an owners suite w/vaulted ceiling, walk-in closet,...
Great 3 bedroom, 2 full bath, 2 story home in Adam's Hunt. New heat pump, central air, and all duct work replaced in 2013. The living room has a beautiful wood burning...
$10,000 Price Reduction! Come take a look inside at this 3 bedroom, 2 full bath, 2 story home in Adam's Hunt. New heat pump, central air, and all duct work replaced...
Wonderful opportunity for this near Colonial Williamsburg townhome. Well kept and nearly new! Private backyard one car garage and large rooms make this a great home...
Beautiful Home close to Newtown in the Waterford Community in Powhatan Secondary. Has 2,568 Sq. Ft., 2 car garage, Fenced in backyard, Built In Cabinet/Bookcases,...
Beautiful Home close to Newtown in Waterford at Powhatan Secondary. Has 2,568 Sq. Ft., 2 car garage, Fenced in backyard, Built In Cabinet/Bookcases, Gas Fireplace,...