Tuesday, January 14, 2014

2014 Real Estate Resolutions for BUYERS

Between low home inventories and historically low-interest rates, 2013 was a good year for real estate sellers in the San Antonio area. According to Realtor.com, some of those positive trends are expected to continue in 2014. This means that serious 2014 buyers need to keep the state of the market in mind as they go about making their home ownership dreams come true.
If you've promised yourself you'll become a homeowner for the first time in 2014, the Claus Team has a few easy-to-accomplish resolutions to help get you there.
1. Boost Your Credit Score
Your credit score will play a key role in your mortgage approval and rates. At the beginning of the year, order your credit reports from an outlet like AnnualCreditReport.com, a free service authorized by federal law. Go over each report, dispute any errors, and pay off old debts. And even if you aren't buying tomorrow, avoid big-ticket items such as cars or furniture and don't apply for new credit. 
2. Save Up to Put Down
In a perfect world - which means the best mortgage rates - every buyer would bring to the table a 20 percent down payment to qualify for the best mortgage rates. Even if that isn't feasible, 3 to 5 percent down home programs require a chunk of money at closing. Its important that you keep the final goal in mind and save appropriately. 
3. Find the Best Real Estate Agent
Finding a great real estate agent takes time but will pay off in the end. One way the Claus Team likes to recommend people choose a buyer's agent is to make sure you partner with someone you mesh with personally and to ask for client testimonials and referrals when evaluating your choice. 
4. Get Pre-Approved
Knowing what you can afford, what you qualify for, and what type of loan you want can help you find the best deal when you're ready to apply for a mortgage. To get started, let the Claus Team connect you with our preferred lender. When it comes to home buying, knowledge is power, and they'll help you fully understand your finance options. 
5. Find Your Dream Home
You don't have to wait until you're ready to shop to start looking at homes. Start early by researching neighborhoods in your target area and viewing homes online to get an idea of pricing. We can also set you up on an automated MLS search to bring listings straight to your inbox. Once you're ready to shop, you'll have a much better idea of what you want and what you can afford.

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