Trying To Time The Bottom Of The Market Before Buying Your Rancho Bernardo Home? Ten Points To Talk About With Your Lender
July 25th, 2009 Categories: 4S Ranch, Brookside Escondido, Carlsbad, Find Your Home, Mortgage News, Real Estate News
Are you thinking of buying a home in Rancho Bernardo? If so, with the world of financing having been turned upside down in the last year, reviewing your options is what our team recommends to our clients and in conjunction with our team’s lender.
The right or wrong decision when signing your home mortgage can mean thousands of dollars difference in interest paid. There are very important considerations to evaluate before you commit to a 15 or 30 year note. For many of us, our mortgage payment is the most important financial decision we’ll ever make. Doesn’t it make sense to know as much as possible about the financing of our home? Take the time to thoroughly investigate all of your options!
Unbelievably many of us sign the first mortgage placed in front of us. Typically the excitement of the new home purchase reduces the mortgage to not much more than an afterthought. What you read here could save you hundreds or even thousands of dollars. Your real estate professional has established relationships with the top lenders in your area. By aligning yourself with a professional agent you ensure all the financial steps are taken care of properly and economically. 
1. Utilize a Lender With Established Ties to an Agent- Lenders are much more flexible with the real estate agents who have done business with them previously. Their relationship establishes them as a team member. The lender and agent work effectively together. That’s why a good agent can make substantial difference in setting up the most economical financing. And the right financing can, literally, save you tens of thousands of dollars over the life of your loan!
2. Don’t Attempt Paperwork Alone- All the paperwork required to complete the purchase of a home can be quite intimidating and frustrating for a home buyer. Make sure you have your lender help you with all the paperwork. Get help from your team, your lender and agent. Their expertise will help alleviate the stress and it will prove to be invaluable before you sign your mortgage.
3. Look at All Your Options- Make sure you see at least 3 loan programs for your mortgage. Lenders have at least 5-7 programs and should work with you and your agent on deciding what is best for your circumstances. Evaluate all your options. After all, it’s your money you’re spending – not theirs!
4. Demand Service- There is little difference between a bank, savings and loan, or a mortgage broker when it comes to the competitiveness of their loan rates. The difference is in the service they provide. It is their job to serve you! You want to get the loan approved and move into your new home as quickly as possible, but don’t overlook the fact that you are the one spending the money and they are the ones who should cater to your needs. Don’t let the process become so intimidating that you lose that understanding.
5. Stay in Complete Touch- You should receive a written report from your lender concerning every step. This will ensure that no details are overlooked and there will be no surprises.
6. Don’t Give Up on the First No- Initial decisions are not always final decisions. Going to a higher authority can sometimes get you the loan, but do so with the assistance and compliance of your lender and agent. Many times, special circumstances, when explained properly to the person in charge, will win you the loan.
7. Don’t Wait for the Bottom of the Market- The odds of your hitting the bottom of your market are about like the odds of you hitting your state lotto! You will almost never hit the bottom of a market. And trying to time it exactly right is often costly. It usually causes a person or family to miss out on the opportunity to purchase a very nice property. You’re better off simply negotiating the best rate and terms you can at the time you find a property. If interest rates go down, you can refinance. This is a much better approach because you won’t miss out on the property you’ve spent so much time locating.
8. Be Honest With Your Lender- Your lender wants to help you with your loan. The only time they get paid is when you get approved. The more information (good or bad) you provide your lender, the easier it will be for them to get an approval. It helps them present the loan in the best light. This in turn helps the loan get the highest approval rating.
9. Become Completely Educated- Pick your lender’s brain. Lenders will teach you all about your various options, even if you haven’t found the right property yet. They will be very patient with you while you are looking, especially if you have aligned yourself with the right agent. They understand all the up-front work will pay off in future business. Your agent will then continue to refer people to the courteous and service-minded lender on down the line.
10. Get Pre-qualified- Lenders will provide you with a certificate of pre-qualification. By getting pre-qualified, you know exactly what financial parameters to stay within. Your agent and lender will consult with you and help you get qualified for the loan that best fits your needs. Many times, they are able to get you a larger loan than you may have thought possible.
Getting approved for a loan is often times much easier than you might think. If you’ve been house hunting in Rancho Bernardo, you know that prices are at levels we haven’t seen in years. Great neighborhoods, excellent amenities and fabulous prices and loan rates make this a perfect time to buy. So if you are really trying to time the bottom, remember that we won’t know what it truly was until it’s passed.
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How Do You Select The Right Realtor?
April 24th, 2009 Categories: 4S Ranch, Brookside Escondido, Poway, Rancho Bernardo, Real Estate News, Santa Fe Valley
As a Branch Manager for Windermere Exclusive Properties it’s my job to spread the word on why our brokerage is a great place to work. With all of the “consolidation” going on in the San Diego real estate world, it’s been hard for me to get out because our phones are starting to ring off the hook.
Our phones are ringing because we are the company that is different than the rest and agents are looking for better, more innovative companies to hang their license with.
I had a really good interview today with a recently relocated broker associate who is considering joining our company. As always, I try to convey an accurate portrait of our company and what it’s like to work with us while getting to know the potential new agent.
I always end up saying the same things… “It’s our culture that makes us different” and “we’re like a family”, which sound sort of cliche’ish ( I know this isn’t a word!)
When I interview for our offices, I look at the person in front of me and try to visualize how they will “fit” within the office. Most often, I end up apologizing for talking too much and going on too long (I do love my company!) instead of being a good interviewer and asking lots of the boring traditional questions. When I do get to the questions I like to ask, I’m usually able to bring to the top what the agent is really looking for in a brokerage, and what they need to succeed.
REALTORS are starting to get that it’s not all about us anymore. People don’t care what million dollar clubs we belong to. They’re not impressed with our image websites with pictures of our dogs and cats or our beautiful families. People want the local info, the stuff they can’t find on Zillow or Trulia. They will gravitate to those agents who can provide them with this type of service. We teach this everyday!
At one point in my interview, I told the interested agent that at our brokerage, every agent donates a portion of their commission on every transaction we close to the Windermere Foundation. The amounts vary but every closed transaction results in money going to a good cause.
I was asked where does the money end up, and while I answered the question, it made me think of a video we produced that answered the question far better than I ever could. Watch The Video.
[youtube]http://www.youtube.com/watch?v=z4yJeeQ3LWs[/youtube]
The real estate professional of today needs the support, resources, and tools that a company like Windermere Exclusive Properties can provide them with.
Marketing in general and online marketing especially are critical for today’s homeseller.
Providing the right information to buyers today is hugely important, who now have the capability to know just about everything about a property before it’s ever seen in person. We provide the support and the tools and the education to our agents that consumers need today.
What our professionals are looking for, even in tough economic times like we’re experiencing today, is to feel good about what they do and how they help people.
It is The Windermere Way.
If you are looking for a professional real estate representative, you can count on Windermere.
My interviewee today was that professional, and would fit right in to our family. I hope she joins our team!
To find an experienced agent who can help you navigate today’s ever changing market, click on this link.
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Ranch Bernardo Real Estate – Calling All Families!
June 14th, 2008 Categories: Rancho Bernardo, Real Estate News
Check Out This Hot, Hot New Listing In Rancho Bernardo!
More than a property, 17159 Patina Street is an experience! Located in the gated community of Bernardo Point and adjacent to 4S Ranch, it’s private and convenient to all.
Sitting on a large lot on a beautiful street, you’ll live in a very desirable neighborhood. With its nicely done landscaping and entertaining backyard, you’ll be able to relax and enjoy your own oasis while being just minutes to everything the Rancho Bernardo area has to offer.
This architectural beauty offers the perfect balance of functionality and design, along with modern luxuries. Dual entry doors welcome you to the large open living room with vaulted ceilings and dining area. Lots of big windows will bathe you in light, and lead you out to the relaxing backyard.
A downstairs guest bedroom and bath, large laundry room with built in sink and door to the outside, and beautiful wood laminate floors demonstrate why our seller’s loved this home and are only selling due to a job transfer.
You’ll enjoy the convenience of a large kitchen which adjoins the family room with fireplace, perfect for the family that like to spend lots of time together.
Upstairs you’ll absolutely fall for the huge master bedroom and large master bath suite, complete with separate soaking tub and large shower, his and her sinks and large walk in closet.
A loft area off the top of the stairs is near the three additional large bedrooms for the kids, one of which could be made into a functional home office. For those with school age children, this home is located in the award winning Poway School District.
Great Kitchen to make the Family Dinner with large center island with cooktop.
Terrific Family Room adjoins Kitchen
A Giant Master Bedroom is there for you to relax…see the fabulous Master Bath Suite below…
Finally, check out the spacious and private backyard with stamped concrete patio…
Designed for an active and social family, the home features proximity to Interstate 15 and Route 56, the new 4S Commons shopping center, Westfield North County Mall and much more. Priced to sell, please call us today for your private showing.
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