The English Team at RE/MAX Executives

First Step: Obtain A Copy Of Your Credit Report

admin — Tue, 16 Mar 2010 16:18:38 +0000

Start your mortgage loan process by making sure your finances are in order. You will be better prepared to make a strong offer on your dream home if you are confident that your financial resources are set. Start the process off right by obtaining a copy of your credit report.

Credit reports include records of your relationships with various lenders, including credit card companies, public utilities, and mortgage lenders. Because lenders use these reports to determine your ability to repay a loan, any mistake has the potential to ruin your chances at getting a loan. And, mistakes happen often.

The three major credit agencies are Equifax, Trans Union and Experion.

Georgia law entitles you to two free copies of your credit report from each bureau in each year. Make sure to use this free opportunity to make sure your credit history is correct.

Visit www.annualcreditreport.com to obtain copies of your credit report.

Do not go to the web site advertised on TV where the three guys are singing a jingle about a free credit report. That credit report is not free!

Second Step: Get Prequalified for a Mortgage Loan

admin — Mon, 15 Mar 2010 16:19:40 +0000

Now you need to get prequalified for a mortgage loan so you know how much home you can afford. Take advantage of all the work you have to do to get your tax return ready by getting pre-approved for a mortgage.

Make an appointment with a mortgage lender to find out how much money you are eligible to borrow when you purchase a new home. Once you are pre-qualified for a home loan, you will have a better idea of which homes will fit into your purchasing budget.

Sally English Advice on Internet Lenders

admin — Sun, 14 Mar 2010 16:21:19 +0000

I work with mortgage lenders every day. Some do what they say they are going to do, some do not. Do not deal with an Internet lender unless you are re-financing your home. Period.

Internet lenders miss deadlines and make life miserable for borrowers who are purchasing a home. Trust me on this. They may promise a quarter or half point less on your loan but they rarely deliver. Internet lenders will yank you around and you will be sitting at the closing table before you figure it out. Then you have no real choice. You either accept their terms or walk away from the great house deal you negotiated.

Lenders You Can Trust

admin — Sat, 13 Mar 2010 16:22:43 +0000

Having been in the real estate business through thick and thin, I have some perspective on the mortgage loan business. As a Realtor, the most important business relationship I have, other than my clients themselves, is the mortgage lender relationship.

I can sell houses all day long, but someone has to make the buyers a loan to finish the deal. Home Buyers come in all varieties and are as diverse as the shape of snowflakes. It is important to have a lender who can work with well qualified buyers and with buyers who are less than stellar with their finances. Above all, honesty and integrity are crucial in a mortgage lender along with excellent communication skills.

My “go to” mortgage lender for metro Atlanta home loans is Fairfield Mortgage. Why? James Williamson and Robbie Crozier at Fairfield Mortgage get home loans approved! If a buyer needs some work on their credit, James Williamson and Robbie Crozier will help the buyer figure out what the obstacles are to purchasing a home and provide them with a road map for working around those obstacles. Even if you do not qualify for a home loan the first time around, James and Robbie will help you determine what steps you need to take to make a home purchase a reality. Call them at 404-329-5595 (office) or 404-483-5512 (cell) to get started on your home loan.

James Williamson, Fairfield Mortgage

Robbie Crozier, Fairfield Mortgage

Atlanta HOME BUYER INSIDER – 5 THINGS EVERY Atlanta HOME BUYER SHOULD KNOW

admin — Mon, 22 Feb 2010 18:04:19 +0000

Buyers have an advantage in today’sAtlanta real estate market. But, this does not afford buyers the power to hold a tyranny over the sellers in the Atlanta marketplace. Too many buyers have assumed that a swing in advantage in the market place has made the housing market such that buyers can unfairly dictate whatever terms they wish to the seller.

Atlanta buyers do have an advantage in the market right now, but it is by no means a totalitarian advantage. Buyers who make ridiculously low offers are getting little or no response from sellers who don’t have to sell. Even banks holding foreclosures blow off unrealistic offers.

Some sellers in my metro Atlanta markets are senior citizens with little or no debt on their home. If they don’t like a buyer’s offer, they don’t have to compromise. Many are willing to sit out this latest wrinkle in the market and wait for better economic conditions. Buyers will find it difficult to dictate terms to this class of sellers who often sit on the most desirable real estate locations.

You know that adage that you catch more bees with honey? It applies to working out a deal in today’s marketplace as well. Offer some incentive in your terms. Quick closings and no repairs are two powerful tools. Also pre-qualification letters and substantial earnest money deposits. These terms will give your offer, at a price well below list, a serious look!

THE HOME INSPECTION PROCESS: Buyers and Sellers Have New Inspection Considerations

admin — Sun, 21 Feb 2010 18:12:46 +0000

Even though I supervised construction of close to one hundred custom homes in my previous career as a homebuilder, I now hire a home inspector to look over the houses I plan to purchase for investment.

Why would a seasoned real estate professional spend a couple hundred dollars to get someone else’s opinion about the condition of the property before purchase? The answer to this and other questions about home inspections has a lot to do with the changing nature of real estate negotiations.

Most Home Sales Now Involve A Home Inspection: John Ghent, president of the American Society of Home Inspectors (ASHI), told Realty Times that “some 77 percent of all home sales in the United States last year involved a home inspection” (This according to a study performed on behalf of ASHI and the National Association of Realtors). This large rate of sales involving home inspections is a relatively recent phenomenon in the real estate business. In the past, most homeowners purchased and/or sold a home in a transaction where no home inspector was ever involved.

Now, it appears probable that most current and future homeowners will have a home inspector involved in their next sale or purchase of a home.

SELLERS DISCLOSURE STATEMENTS A Win – Win Document for Buyers and Sellers

admin — Sat, 20 Feb 2010 18:14:53 +0000

“Why do I need to fill out another form?” It’s a question I am often asked by sellers when they list their home for sell. An easy answer is “because you have to.”

The real answer is: because you are protecting yourself against all kinds of problems down the road – problems that can pop up years after you have sold and closed your home.

One of the first things we ask sellers to do is fill out a detailed Sellers Disclosure Form, provided by the Georgia Association of Realtors. A Sellers Disclosure Form is a document which details items that need to be repaired, material facts about the property, and other factual information which could negatively impact the financial value of the property. This is a binding legal document when executed properly by the parties to a contract.

What type of information is included on the Seller Disclosure Form?

Identification of the property: Includes determination of the owner’s occupancy of the home.
Questions about the Soil Trees, Shrubs and Boundaries: Includes questions about landfills, sinkholes, settling, dead trees, and boundary line matters.
Questions about Roof, Gutters and Downspouts: Identifies the approximate age of the roof, any past leaks, and gutter and downspout issues
Termites, Dry Rot, Pests and Wood Destroying organisms: Discloses information about potential dangers to the home. This is the main section for researching termite infestation and damage.
Structural Items and Alterations: Includes important information about movement

ATLANTA HOME BUYER MISTAKES: AVOID THE DIRTY DOZEN Fake Stucco, Mold, Chimneys and fireplaces, defective polybutyl plumbing

admin — Fri, 19 Feb 2010 18:21:09 +0000

FAKE STUCCO: In the past, thousands of homes in the Atlanta area were constructed of Dryvit and other forms of fake stucco materials. Known in the trade as Exterior Insulation and Finish Systems (EIFS), this is a multi-layered exterior wall cladding comprised of an insulation board, a water resistant base coat, and a hard coat of acrylic co-polymer on the outside.

There is nothing inherently wrong with these construction materials. However, the standard method of construction in use at the time – combined with antiquated building codes – left thousands of homeowners with termite, moisture, and rot problems. Because the stucco material extended all the way to the soil…

ATLANTA HOME BUYER MISTAKES: AVOID THE DIRTY DOZEN Termites, Electric Panelboard Box, Foundation Failure, Leaking Basements

admin — Fri, 19 Feb 2010 18:16:11 +0000

Many homeowners know that there is a sabotage group, which we affectionately refer to as “the dirty dozen,” constantly at work to undermine their investment in home and hearth. These fighters go behind the lines to attack the core of a home’s financial value.

Over the years we have seen these “dirty dozen” defects in many homes in the Atlanta area. In fact, it is almost impossible to find a previously-owned home in Atlanta that has not experienced an invasion of at least one of the “dirty dozen” at some point.

ARE YOU READY TO SELL YOUR HOME? Make a Good First Impression

admin — Wed, 17 Feb 2010 23:03:58 +0000

“You never get a second chance to make a good first impression.” Little did you realize this sage advice from your parents was the key to selling your home quickly and getting top dollar in the process. As real estate professionals, we are often asked how to make a home sell quickly and easily. Our parents’ advice sums it up perfectly: you must make sure your home makes a good and lasting first impression.

How can you make sure your home makes a good first impression? First, you must get to work before you actually put your home on the market. You don’t want to “test the waters” first and then try to make a good impression as a fall back strategy. Your parents were right when they said you only get one chance!

You will never have more activity on the home than you will experience in the first three to four weeks after putting your home on the market. And, a home will typically sell at its highest price during those first few weeks. The reason is simple: there are buyers out there who have seen everything else on the market and are just waiting for something new to come along. And, it can get competitive. Potential buyers want to be the first to see a new home listing before someone else beats them to it…