2009 Buying Tips For Boston Metropolitan Real Estate

1. Set up appointments with two local Boston real estate agents. You can find these agents at open houses around areas you'd like to live. Get a good sense of who they are, and will they be resourceful enough.
2. Ask these agents for recommendations on reputable Lenders they use. Set up an appointment with two lenders and see which one you are most comfortable with, are they resourceful enough? Markets change constantly, ask them what are the benefits to buying at this exact moment in time where interest rates are low and prices are discounted. Are you approved through FHA, FHA203K, MFHA, or Conventional? This information is extremely important.
3. Use your pre-approval to shop around. This pre-approval given to you by your lender is a guideline on how much their willing to lend you. Ask for a closing cost estimate.
4. Make an offer. Base your terms on your flexibility, ask your agent to find out the interest in the property as there may be a bidding war. As listing prices are not always set correctly, your agent should do a comparative market analysis to see the true value of the property.
5. Inspect the home with a licensed home inspector. Prices vary but be sure to ask plenty of questions about structure, roofing, framing, wood treatment, downspout positioning and more.
6. Talk about the Purchase and sale agreement with your Real Estate lawyer. This lawyer can be a referral from your agent, but most likely your lender. These costs should be included in your closing cost estimate.
7. Read important documents like the 6d and association documents if its a condo. What happens if you have to rent your condo? Can you rent your condo? Some condos associations won't allow it, be prepared. Your lawyer will talk this over with you. Use this time with the lawyer wisely.
8. Closing costs and pre-paids are unfortunately shocking to buyers most of the time at the closing table. Be informed, know exactly what you'll have to bring to closing. Sometimes in the offer you can ask the Seller for $5,000 cash back, but that may not cover everything.
9. Buy before December 1st, 2009 for the $8,000 tax credit.
10. Close the last week of the month, this just saves money and is convenient to all parties.

I truly hope this article has been helpful. I intend on doing more as I found it very fun. Thank you for reading.

Search Boston Homes Online using MLS - ShaunsHouses.com. by ShaunsHouses

Is it hard to qualify for a home loan these days??

The fact that the US has 3.9 million homes for sale and most of the coming from foreclosures means that newer more efficient Home Loans must be offered. The truth is that getting a home loan is easier now than before the boom.

The problem during the boom with Home Loans was that information on the loan applications where not properly verified. And everyone knew this. For instance, anyone could "state" that they were moonlighting and making extra income to qualify for a home they could not afford, hoping that the home would raise in value. The fact that these loans no longer exist does not affect you and I who work everyday, and who would never lie on a federal document and risk their credit in the process*.

In order to resolve some mysticism, and shed light on this shady subject I inform my clients that the banks will be looking for what we call the 3 C's of Financing. Credit, Capacity, and Collateral (For a further explanation of these terms please contact me via email jesse.saenz@comcast.net ). With there being more transparency in the loans these days people are living more within there means and the prices of homes are there lowest in decades.

* If you have been a victim of Loan Fraud and or Foreclosure please contact me as I am able to modify your loan, or register you to fix your credit in a credit rehab program. by Jesse Saenz