Real Estate Information Archive

Check out This Month in Real Estate:

http://www.youtube.com/watch?v=yk7zqcyZfgU

Breaking News!!! Click on the link below to view the highlights of the 2009 expanded and extended tax credit. Not only is the first time home buyer incentive extended, certain current home owners planning to buy in this optimal buyers market are now eligible to receive a tax credit. Contact Donna and Company today to hear the latest on this timely news!

http://www.youtube.com/watch?v=IMzTpn3FvA8

One of the most critical first steps in the homebuying process is to select a lender. You want to find one that you feel comfortable with who can get you a great interest rate and see you through the mortgage process start to finish. Recently I had an experience where a client used a mortgage broker whom I had never dealt with. Let me back up a second here and explain the difference between a mortgage banker and a mortgage broker.

A mortgage banker is the local lender who would handle your entire loan start to finish. They are the ones pulling your credit report, issuing you a pre-approval letter, and handling the entire loan process start to finish. A mortgage broker does all of these duties except once they qualify you and gather all of your info they in a sense become the matchmaker between finding you a lender to handle the loan. They shop around for you and find the best deal out there which at the time may seem like a pretty good deal. The truth of the matter is even though they are finding you a great interest rate and saving you money they also need to get reimbursed in some fashion. My overall point is that although they may save you some money, in the long run it may be more beneficial to have someone local and easy to meet when you have questions or concerns. The savings in my opinion do not outweigh the ability to meet face to face with your mortgage banker.

This leads me to my case in point which was the basis for my opinion. My latest closing consisted of a client choosing a mortgage broker whom a relative had used in the past. Long story short our closing was postponed 2 weeks total and there was more confusion on the lenders part than I have ever encountered. From this point on I thought it valuable to educate my current and future buyers about these two different parties. Please feel free to contact me via email at matt@donnaandcompany.com or cell phone 252-571-9089 should you have any questions about getting started with a local preferred lender!

Now that you've visited several homes and have decided on the one that best fits your criteria, your Buyer Agent will help you write up an Offer to Purchase and it will then be presented to the Sellers by the Listing Agent.  The Sellers may accept your offer, reject it outright or may counter your offer.  Don't worry your Buyer Agent will help you every step of the way as you navigate this part of the process.  Once you have an accepted Offer, you'll need to apply for your loan preferably through a reputable local lender.  Be prompt in furnishing all documentation to your loan officer when it's requested.  This will prevent delays in the approval of your loan.  You'll also need to choose a home inspector, a pest inspector, a surveyor and an attorny.  Ask your Buyer Agent for the names of at least three in each of these categories.  Call them to find out their availability and pricing information.  Your Buyer Agent should be able to help you schedule these items.  While you are waiting for the inspections to take place and counting down the days until closing, keep in mind that you shouldn't make any big purchases or job changes during this time.  These could affect the approval status of your loan.  Above all, remain calm and enjoy looking forward to being in your new home.  This is an exciting time and you'll want to remember it with fond memories.

Live music, local artists, refreshments and FUN await you at Union Point Park this Saturday, June 20th from 2pm- 10pm. Admission is only $5.00 and this will get you an all day pass for 8 awesome bands gracing our area for a wide-range of musical emtertainment all evening as well as local artists displaying their talents. Be sure and bring you chairs and sunscreen as it is scheduled to be warm this weekend.

"Bernaroo began as a way to raise money for community projects", says Allie Runne, a then 17 yr. old who, with  friends and members of the teen council group through the City of New Bern, known as YAAC, brainstromed this exciting event. Allie also joined forces with the Student Musician Songwriters at NBHS, New Bern Parks and Recreation Department as well as Broad Street Music, who are actively involved this year as well.

Come celebrate Music and the Arts in downtown New Bern this Saturday and be sure and bring Dad along, for an excellent way to spend the weekend!

For those of you sitting on the fence about buying a home because it seems intimidating, especially for first time home buyers, I want to share a few tidbits of information that may help you navigate through the closing process.  First of all, I would recommend hiring a qualified Buyer Agent.  At your first meeting with a Buyer Agent, they will help you discover what your needs and wants are for your dream home and then will help you choose properties to explore based on your criteria.  This is the first step toward home ownership and realizing the American dream.  Tune in next time to hear about the next step in this exciting process.

Last month, several wonderful women and some special men, gathered together to help build two Habitat Houses in our local community. The Women’s Build was a successful day full of many projects to be completed. Included were; installing a roof, “wrapping” a house with energy efficient wrap, installing windows, finishing a porch, hanging siding and painting interiors. Volunteers from all over the area, were hammering, sawing and painting, including local churches, Keller Williams ® Realty agents and amazing volunteers. There is an on-going need for female volunteers to help build a home from the foundation up. Please consider giving your time and talent to this amazing effort and help well deserving families in our area.