Jeremy Walsh Real Estate is here to help your dreams come true by providing you three tips on how to avoid detrimental mistakes as a first time homebuyer. Read now.

It is always important to read the fine print and gritty details before you buy a home. Being a newbie, no matter how cautious or smart of a homebuyer you may be, could still make you uniquely vulnerable to the complicated home buying process.

The last thing you want to do is dig your own grave of debt. What you want is to buy and build financial security with a home purchase.

Here are ways to save you from debt disaster:

The first thing you need to do is take a look at your income and expenses to reveal truly what you can and can’t afford. You will want your mortgage payments to be something you can comfortably afford to pay every month for the next 15 to 30 years. Never purchase a home you know you will be scrapping for money every month to pay. You have to crawl before you walk. Even if you do not buy that big house on the hill now, you can afford it someday and you will be able to thank your first home for that.

Make a budget for yourself to help you afford your first home. List all income, including your wage, investments and expenses. This will give you an idea about how much you can afford every month, even though this will only provide you a snapshot of your financial picture. There will come times when unexpected costs will come up, you can prepare for this by studying long-term your financial habits. You may not be able to predict the future but you can certainly make realistic expectations and cut down on certain expenses by your own choice.

Once you do that, list what you need and want in a home- this includes both bedrooms and your ideal community.

Next thing you need to do is perform a credit check before you start the home buying process. That three digit score could be the difference between becoming a homeowner rather than remaining a renter. Your credit report will show how consistent you are about making payments on time, what kind of accounts you have open, and how long you have had them open.

When your score is low, you lower your chances of being granted a loan to purchase your home. Get a report from credit reporting agencies like Experian, Equifax and TransUnion.

By reviewing your credit report you may even find errors you can remove to improve your score. CNN money conducted that found about 79% of reports have some kind of wrong information and 25% have seriously damaging errors.

You should review your credit report at least once a year.

Once you get a clear idea of your own financial status, it is time to look at the big picture. You have to always know in your mind the housing market is not static but it fluctuates.

Sometimes it is in favor of homebuyers and other times it is more in favor to home sellers. It all depends on supply and demand. Desirable housing could be scarce or in surplus.

When supply is high and more homes are available, this is when you want to buy a home. Other factors to look at are interest rates, consumer confidence and the overall condition of the economy. You can keep up with these factors by reading newspapers and magazines focused on the real estate market such as the Wall Street Journal and The National Real Estate Investor Magazine.

If you have any questions on buying a home or selling a home, please contact Jeremy Walsh Real Estate by calling 443-610-5722 or click here today!

You need to be exclusively represented and have Jeremy Walsh (located in Baltimore, Maryland) on your side to handle all of the important details for you!

You can also follow me on Facebook, Twitter and LinkedIn as well!

Source: 10 First-Time Homebuyer Mistakes

The most important thing yo need to focus on to help you get the home of your dream is to have good credit. You can start checking the status of your credit by reviewing your credit report. Get free copies of your credit report from companies such as Equifax, Experian and TransUnion at AnnualCreditReport.com. Be sure to look at reports from all three because you may discover your credit report has errors and it will be up to you to remove this information. Errors on your credit report could affect the interest rate on your home and your ability to get a home loan.

Once you have your report, check your credit score. Your credit score will affect the rates and terms of your loan. Many mortgage lenders use FICO credit scores,so you should get yours from there.

You can improve your credit score by paying all your bills on time and paying down your credit cards. Remember once you buy your home, do not open and close new accounts, this will make you look financially unstable once you are a homeowner.

After you have your credit score, look for ways to reduce your debt. For starters, try to eliminate high balance credit cards, store charge cards, and payday loans. These kinds of debts make it hard to get a home loan. Keep your spending under control as much as possible.

Last but not least, start setting aside a savings and adjust your spending habits to reach your goal of becoming a home owner.

If you have any questions on buying a home or selling a home , please contact Jeremy Walsh Real Estate by calling 443-610-5722 or click here today!

You need to be exclusively represented and have Jeremy Walsh (located in Baltimore, Maryland) on your side to handle all of the important details for you!

You can also follow me on Facebook, Twitter and LinkedIn as well!

When buying your first home, the buying process does not happen overnight. You are going to need to start your search long before you need to move. Once you have your mind set on becoming a homeowner, you will not want to rent again.

The following information is what you should expect from the home shopping experience:

Define Search Parameters

When you are a first time homebuyer, you are most likely to start your search on the Internet. Browsing the internet for homes will help you get an understanding of what type of features you are looking for in a home, as well as a price range you are willing to pay to obtain these features. Go through online listings, view virtual tours, and review photographs of homes you would like to see in person.

This task will help you define goals and plan how you will reach these goals, while preparing you for your first meeting with a real estate agent.

The Average Length Of Time It Takes To Become A Homeowner

You may hear horror stories of homebuyers who look for years for a home but most homebuyers can purchase their first home within two weeks of searching. The length of time it takes to buy your first home is all about how serious and motivated you are to make that dream come true. If you are really focused you can find a home within two days.

With a real estate agent from Jeremy Walsh Real Estate, you will have the opportunity for a skilled agent to listen to your wants, needs and arrange to show you only homes that fit your particular interest. A Jeremy Walsh Real Estate agent will preview homes you might be interested in seeing prior to bringing you on the showing. This will save you a great deal of time.

When a home feels like a perfect home, buy it.

Here are a few items to take on your showings:

-  Bring a digital camera to take a series of photos of the exterior and interior of the home.

- Pay attention to the home’s surroundings including neighbors and the overall community appeal.

- Rate the home on a scale 1 to 10 (10 is the highest) for your interest in home.

- Always visit your top choices a second time before buying.

When you are ready to start the home buying search, Jeremy Walsh Real Estate is here to help you every step of the way.

If you have any questions on buying a home or selling a home , please contact Jeremy Walsh Real Estate by calling 443-610-5722 or click here today!

You need to be exclusively represented and have Jeremy Walsh (located in Baltimore, Maryland) on your side to handle all of the important details for you!

You can also follow me on Facebook, Twitter and LinkedIn as well!

Source: Before You Buy Your First Home – Tips For A First Time Home Buyer

Although people selling a home in the current real estate market are experiencing weak returns, this is the perfect time for first time homebuyers to find a good quality home for a more than a fair price.

There are many benefits that come with owning a home and these benefits accumulate over time. Here are just a few of the many reasons it is better to buy a home than just rent:

One great reason it is a good idea to buy a home in the current real estate market is that you have a better chance of renegotiating a sales price to get more value for your home purchase. Since it is taking longer for homes to be sold, sellers are required to sell at lower prices; they are more likely to share in the closing costs and give you furnishings for the home because of the need to sell.

Another great reason to buy a home rather than rent is to benefit from home equity. When renting, all you are doing is making a payment to live somewhere. You are not gaining on an investment; you are just remaining the same. Although a home requires paying monthly mortgages, insurance premiums and home maintenance expenses, you are always building up towards added value every time you make a payment.

The next benefit you can gain from owning a home is making your own rules. When playing the rent game, your activities are always bound to the Landlord’s guidelines. When you are a homeowner, you are able to do what you want and invite as many people as you want, to enjoy the comfort of your own home. Also, you are able to remodel, redecorate, and rearrange your home how you please, when you please.

But home owning gets even better; it can help you build long-lasting relationships with your neighbors and the entire community. When renting, this is not possible because people easily come and go from one place of rent to the next.

Last but not least, interest rates are very low right now. If you have good credit, you can find your way into a good quality home. A real estate agent like Jeremy Walsh Real Estate can help you transition from renter to homeowner in no time.

Although renting is convenient, it will never give you the lifetime benefits a home can offer. You may be better off buying a home than renting, if you can compare the difference of your monthly rent to home owning. You can do this by multiplying rent by 240 as an estimate of affordability.

If you have any questions on buying a home or selling a home , please contact Jeremy Walsh Real Estate by calling 443-610-5722 or click here today!

You need to be exclusively represented and have Jeremy Walsh (located in Baltimore, Maryland) on your side to handle all of the important details for you!

You can also follow me on Facebook, Twitter and LinkedIn as well!

Source: Obvious Benefits of owning a Home Vs Renting

Take Great Pictures Of Your Home

In the modern world of technology, most homebuyers will start their housing search through the Internet. Pictures speak a thousand words and you want compelling pictures to speak for the real value of your home. Take at least six pictures of your home and show them off on the Internet with brief descriptions and contact information. This will help spread the word about your property being up for sale and get homebuyers to take the time to visit your home in person.

Post Videos About Your Home On YouTube

Youtube is one of the most watched video websites in the world. Post a video of you walking around your home and neighborhood. Tell video viewers why you fell in love with your home and neighborhood. Homes that are well-loved are homes buyers are most interested in purchasing because they can start to envision living a great life in the home as well.

Use Your Neighbors To Sell Your Home

If you have a good relationship with your neighbors, use this to your advantage when selling your home. Neighbors can send flyers on your home in email lists and recommend friends looking for a home to check out your property. One great event you can have at your home to do this is an open house your neighbors are invited to attend. Let your neighbors sell the neighborhood to prospective buyers who have always wanted to live in the area.

But for a really quick home sale, find and hire an experienced real estate agent from Jeremy Walsh Real Estate.

If you have any questions on buying a home or selling a home , please contact Jeremy Walsh Real Estate by calling 443-610-5722 or click here today!

You need to be exclusively represented and have Jeremy Walsh (located in Baltimore, Maryland) on your side to handle all of the important details for you!

You can also follow me on Facebook, Twitter and LinkedIn as well!

Source: 13 Tips For Selling Your Home

 Buy A Home Only If You Are Ready To Commit

When buying a home, it is anything but temporary. You need to make a commitment that you will stay in the home of your choice for at least a few years. If you feel you can’t make such a commitment to a specific property, don’t buy it.

The transaction costs of buying and selling a home can be costly. You may lose more money than you invested in the home from the start. When you buy a home, make sure you can learn to love and grow with it for a few years. The more you love your home and invest in it, the more likely it will bring value to you over the years – value while occupying it and value you when selling happens when you invest in your home.

 Tidy Up Your Credit History

When buying a home, there is a very good chance you will need to get a mortgage to buy it. You can help yourself get a mortgage by having a clean credit history. To prepare for your mortgage application, get copies of your credit report months in advance of your house hunt. Make sure facts are correct and problems are fixed when discovered.

 Buy A Home You Can Afford

When buying a home, always avoid buying a home you can’t afford. Yes, you might want that big home on the hill but if you can’t afford the payments, you will find yourself and your furniture out on the curb.

The rule of thumb for buying an affordable home is to buy a home that runs about 2 and 1 half times your annual salary. Always look at your income, debts, and expenses to calculate what you can afford on the home market.

 Buy A Home In A Good School District

It doesn’t matter if you have no school age children. Buying a home in a good school district will always add more value to your home, if you ever sell it. Strong school districts are a top priority for many homebuyers and a great way to easily boost the property value of your home.

If you are ready to start searching for a home, Jeremy Walsh Real Estate is here to help.

If you have any questions on buying a home or selling a home , please contact Jeremy Walsh Real Estate by calling 443-610-5722 or click here today!

You need to be exclusively represented and have Jeremy Walsh (located in Baltimore, Maryland) on your side to handle all of the important details for you!

You can also follow me on Facebook, Twitter and LinkedIn as well!

Source: Tips For Buying A House

The first thing you want to do when it comes to finding your dream family home is list your needs as a family and research home loans. You should start saving for your home loan deposit right away. Usually a home loan deposit is 10% to 20% of the total property price. Once you get your finances together for a home pre-approval, you can start searching for your new family home.

Here are a few steps to take to make your family home purchasing a success:

 What Your New Family Home Should Include

Often a family buys a new family home because they have outgrown their living space. When you buy a new family home you have to think about your present needs and the anticipated future needs. You should ask yourself if you need a yard. If you do need a yard, identify how much yard space you will need for your family entertainment and leisure.

Do you want access to community facilities such as schools, recreational centers, and convenient stores? If yes, you will need to find neighborhoods with these features.

Define Your Preference Of Location

Before purchasing your new home, you need to identify the type of scenery you want your family to live within. Do you want to live in the city, country or suburbs? You should take in consideration the amount of time it would take you to commute to work. Also, check out the quality of the schools in your area. Often children cannot go to schools out of their zoned area. Remember when buying a family home, you are making life-long decisions for not only yourself but also the entire family. Make the right decisions.

 Know When To Buy A Home

The real estate market is continuously going through ups and downs. The best times to buy a family home are when interest rates begin to fall after the housing market has reached a peak period. This often happens during a depressed market – the house prices often drop in this type of atmosphere. This is the time to find bargains on family homes.

If you have any questions on buying a home , please contact Jeremy Walsh Real Estate by calling 443-610-5722 or click here today!

You need to be exclusively represented and have Jeremy Walsh (located in Baltimore, Maryland) on your side to handle all of the important details for you!

You can also follow me on Facebook, Twitter and LinkedIn as well!

Source: Tips For Buying a Family Home

The housing market prices and rates are still good to buy a nice and affordable home.  The issue is that most people do not have the savings to buy a home while the prices and rates are still good.

Some challenges are as followed:

-The amount to save for a home is most likely the largest fundraiser you have ever tackled.

- The time frame for saving for a home and to buy what you need for a home is longer than most goals.

-  It is hard to calculate accurately how much money you will need to not only buy a home but keep a home.

Here are 4 Ways To Save For A Home:

Save for one thing at a time. This strategy works well because it helps you set reachable goals that make you feel accomplished and stay motivated until you reach your goal of purchasing a home.  For example you can save only for your closing fee until you achieve the goal. That is when you can start saving for your insurance.

Set Year & Month Intervals For Savings.  Never tell yourself you want to save the lump sum for buying a home.  Hearing the full figure will discourage you from saving.  Set small, reachable sum goals to help you reach your bigger savings goals. For example, try to save $6,000 a year to buy a home.

Pay Yourself First

Whenever you get a paycheck, make sure you pay yourself and place this payment in your savings account. Remember to only transfer money from your savings account only to cover needed expenses until your next payday comes.

So what are you waiting for? Start saving today. Jeremy Walsh Real Estate is here to help you become the homeowner of your dream home.

If you have any questions on buying a home , please contact Jeremy Walsh Real Estate by calling 443-610-5722 or click here today!

You need to be exclusively represented and have Jeremy Walsh (located in Baltimore, Maryland) on your side to handle all of the important details for you!

You can also follow me on Facebook, Twitter and LinkedIn as well!

Source: How To Save Money for a House

An appraisal is defined by the Appraisal Foundation –USPAP (Uniform Standards of Professional Appraisal Practice) as “ The act or process of developing an opinion of value.” This valuation will determine your property market value – an estimate of what your home would sell for in the real estate market.

We understand this process can bring about much apprehension. We are here to give you a few tips to get an upper leg on your valuation:

What is a Home Appraisal?

A home appraisal is the process of a professional surveying your property for value. A bank often does it when a home needs to be approved for a loan. The home appraisal is a very detailed report, which includes the following information:

-        The condition of the home, the neighborhood

-        Homes similar to yours selling price

-        How quickly would a home like yours sell in the market

It is important to know that an appraisal is not a home inspection. During an appraisal only major concerns are reported. Your home will not be examined for its full condition such as your roofing and appliances.

How is the Home Appraiser Picked?

Your lender chooses the home appraiser and the lender can either have its own appraiser or contract an independent party.

 How To Prepare For A Home Appraisal

You should prepare for your home appraisal the same as you would prepare for a home sale because you are preparing for the re-selling of your home. Have all major maintenance completed. Clear and trim your yard. Paint your interior. Allow the appraiser full access to your home. Be kind and let the appraiser know about any new additions such a new windows, new flooring or a finished basement.

If you have any questions on Home Appraisals , please contact Jeremy Walsh Real Estate by calling 443-610-5722 or click here today!

You need to be exclusively represented and have Jeremy Walsh (located in Baltimore, Maryland) on your side to handle all of the important details for you!

You can also follow me on Facebook, Twitter and LinkedIn as well!

Source: Home Appraisal What To Expect  & How To Prepare

Be In It For The Long Haul

When you are looking for a home, treat the situation like a long-term, healthy and committed relationship. Search for a home that you could see yourself living with for at least five to seven years.

You should do this because buying and moving to a new home takes a great deal of time and effort. It could even financially cost you a large amount of money with closing cost, moving cost, and Home monthly payments. The longer you stay in your home, the more you are likely to reap the benefits of investing in a home.

Give Yourself Room To Grow

When you decide to purchase a home, you do not want a home that fits your needs perfectly for the time being. You want a home that can adapt to your needs as your life changes.

When you have a baby, you will need room for your child to grow. When your children go off to college, you will need to most likely keep rooms for them to return the first few months after graduation.

It is okay to not be able to afford a place large enough to meet your anticipated future needs now but you should look for a home you can build home additions to for the future.

Go For Your Type Of Style

There is no such thing as a home that fits all types of lifestyles. Pick a home that fits your life and level of comfort. It could be a house, condo or a townhome. Just as long as you are happy with the property, that is all that matters.

Buy What You Can Afford

Never voluntarily set yourself up for failure. If you cannot realistically afford to buy and stay in a home, do not buy it. Sometimes you have to crawl before you walk. To buy an affordable home, examine your finances, potential future expenses, and do not live beyond your means.

It is wise to buy a home you can afford rather than buy a home you took a stretch to purchase. Being a homeowner takes unexpected financial commitments. Problems will inevitably arise, be prepared to handle it.

If you have any questions, please contact Jeremy Walsh Real Estate by calling 443-610-5722 or click here today!

You need to be exclusively represented and have Jeremy Walsh (located in Baltimore, Maryland) on your side to handle all of the important details for you!

You can also follow me on Facebook, Twitter and LinkedIn as well!

Source:  10 Tips To Find The Perfect Home