Buying a Home

The Advantages of Working with a REALTOR®

Don't Under-Estimate Your Situation

Buying Vs. Renting Your Home

Getting a Loan

What is an LSR (Loan Status Report)?

Getting Ready to Move

Home Buying Tip

Make a list of what you want in your new home. Keep the list with you through out your search. Make notes at each house.

What worked? What didn't? After a day of house hunting, the details can start to run together. The list will help you keep track, eliminate some homes, emphasize others, and eventually pin point your next home.

For you convenience I've compiled a Check List & Comparison Sheet already for you in the members section. The list and membership is free!

Login or register a new account today!

The Advantages of Working with a REALTOR®

There are over 50,000 homes for sale in the Phoenix Area and more are being added every day. This does not count any homes not listed by REALTOR®s or "For Sale by Owner" (FSBO) homes. These are not included in the Arizona Multiple Listing Service (ARMLS).

How will you sort through these homes to choose what you wish to view? Once you pick one, who will you call to get inside the property? How will you know if it is priced fairly? You want to make an offer, what is the first step? How do I ask for a lower price? Is there a warranty on the property? These are only a few of the questions you will find yourself asking once you start home shopping. As a REALTOR® I can answer many of these for you or assist you in getting your answer.

To become a REALTOR® one must agree to abide by a code of ethics. This guarantees you will work with someone that follows all real estate laws and regulations and that will work for you and your best interests. Part of becoming a REALTOR® is learning about the market and how to negotiate the best deal on a property. By participating in the ARMLS I have access to all homes using an ARMLS lockbox, allowing you to view the properties you're interested at your convenience. I will help you look at the market to assess the asking price and come up with the best offer to make on the home. I can help you to understand the contract and the process that is involved. If the seller comes back with a counter offer, I will be there to explain your options and best negotiate your response.

As a REALTOR® I will be there long after the contract is written. I will see you through the 10 day inspection period and the escrow process, right until you get your keys. It doesn't have to stop there! If you have a question about the warranty on the home or maybe have a friend moving to the area, I will be ready and willing to help in any way that I can.

Don't Under-Estimate Your Situation

You've decided your home is too big/small, or you just want to move. Now what? There are many things you'll need to consider. Here are a few :

• Do you want to stay in the same area of town?
• Is it a good time to get to that neighborhood that you have been looking at for years?
• How much can you afford? How do you find out?
• How many square feet do you really need?
• What will your current home sell for? How long will it take to sell? [ Sellers Section]

Or... Maybe your career has taken a new direction and now you're moving into or relocating within the Phoenix area. Let's think this through... moving is a big step. There are many more things to consider:

• What area of town will you be working in?
• How do you feel about commuting?
• Do you have family moving with you?
• What type of home and neighborhood do you want to live in?
• What are the schools like?
• Do you have a relocation package available?
• What will your current home sell for? How long will it take to sell? [ Sellers Section]

These are just a few of the issues that I as your REALTOR® can assist you with. There are many more things to consider no matter your situation. Have you thought of them all? Perhaps there are things a REALTOR® can help you with that you haven't thought of. Choosing and buying a home is a big deal. Having a real estate professional working for you (the buyer) at no cost, is ALWAYS a good decision.

Buying Vs. Renting Your Home

Whether you are just finishing school, just out of school, or just moving to a new city, the first major choice you need to make is, "Am I looking to rent or buy?" There are pros and cons to both sides of this pressing question. Personally I think the is buying (whenever possible), however you should be provided with some information and then make the right choice for you, your family and your situation. Lets look at a few pros and cons of each.

Renting
PROS	CONS
No ties - when the lease ends you can move. Its short term, you can learn an area while looking to buy.	Rent can go up each year. Permission is needed to decorate This no return on rent money paid. The owner could sell at anytime.

Buying
PROS	CONS
The home is yours to decorate as you wish. You'll know your monthly payment and if it can change per your loan terms you know it - No surprises. Its an investment - Paid money goes into your home equity. The sale of your home may provide a down payment for your next dream home. Keep it as long as you wish.	May require more to get into.

Getting a Loan and What is an LSR (Loan Status Report)?

Now that you decided to look for a new home, you know what you want, and you think you know what you can afford. The next step is to call a lender to see if that number is realistic. Can you really afford that much or can you afford even more than you thought? This is important for two reasons.

First, you want to be sure that you are looking for homes in your price range. Many buyers have their home search spoiled by finding that dream home before speaking with a lender, only to find the home is a little out of reach. Others find they have wasted time looking at homes that just weren't right, when they could have been looking a little higher in price.

Second, in the Arizona purchase contract it states that a valid LSR will accompany the offer.

What is an LSR?

A Loan Status Report, or LSR, tells the seller that the prospective buyer has been in touch with a lender and with the information provided so far, they should be able to pay the amount that is being offered. Once you have put an offer down on a home and it has been accepted, you will need to be in communication with your lender to get all documents needed to obtain the loan prior to close of escrow (COE).

Getting Ready to Move

It has been a long and exciting road, but its almost time to move into your new home. By the time you started looking at properties you had been cleaning your closets, researching your new town, or side of town. By now you know where you will be living and hopefully have an idea about schools, doctors, utility companies etc. If not, add these things to your list. If you don't have a list, here's how to make one.

It is the first of any given month, now write down what you need to do. What bills will you pay? Will these stay the same or will they need to change? What errands do you need to do? Do you need to arrange to do these same things in your new home? Dry cleaning, lawn services, food shopping, to name a few. Continue through a month like this, you will be surprised how many day to day tasks we take for granted will have to change. Just remember this is an exciting time, do not let yourself get overwhelmed.

One month until move in!

You are probably in escrow. I know that you have a lot to do; inspections, packing, loan documentation. It's okay, this is why you have a REALTOR® to help keep you on schedule with your new home. Just keep in touch and worry about your to do list. Get to the post office to get change of address cards, make sure that your bank can still service your needs if you're relocating out of state. Contact utility companies; find out how much lead time you need for the disconnect/connection process. Make sure your pets are ready for the trip. Are they current on all their shots? Do you have a new Vet selected?

One week until move in!

Make sure you have all of your belongings and only your belongings. Return anything borrowed from neighbors, rental stores, or libraries. Check all cabinets and closets, especially those you rarely use, like above the refrigerator. Pack everything you won't use each day until you get to your new home. Talk to your REALTOR® to make sure you understand the closing schedule, when and from whom you will get your new keys.

The big day!

One last walk through, everything is empty and ready for the new owner. On your way out lock up, leave the keys as agreed, and as you close the garage... don't forget to leave the remote!

All that's left is to enjoy your new home!

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