In this edition of Tuesday Morning Coffee John gives you four strategies to apply when you are looking to buy a home this summer.

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Transcript

JOHN:  Hey, guys.  John Jones here with another edition of Tuesday Morning Coffee.  Today, we’re going to talk about four strategies you need when buying a home.  And I’m telling you this because right now we have I think one of the most dynamic times I’ve ever seen with our summer selling season upon us to buy a home.  Not only are rates at an incredible low, 4-1/2% is what I saw toady, but also we’ve got great pricing, great value out there.

 

But a few strategies that I want you to take with you when you go buy a home.  I want to start out with number one: have a clear financial picture.  Have a clear financial vision of what you want to buy and also what you can buy.  So I highly recommend sitting down with a mortgage professional before you even go out on this hunt.  Find out what you are qualified for.  Not only what you’re qualified for, but what do you feel comfortable with.  What is that number?  And we all know that number.  And stick to that number.

 

Secondly, be careful about trying to find the deal.  We have so many buyers right now that because of the news, because of the foreclosures, because of the short sales that’s all they want to focus on.  And then we take them around; they look at 20 of them; and none of them meet their needs.  Because what you end up doing a lot of times when you go that route—and it’s okay to buy one—but you end up trying to settle because you think you’re getting a deal.

 

But once you really look at it, we’ve got to put paint; we’ve got to carpet; we’ve got to do all these things.  Or you end up finding it in a neighborhood or a house you really don’t want to live in.  Pricing is so good right now and an appraiser is going to be your check and balance system so you’re not overpaying in this market, that go out and find what you want.  Sometimes the best deal is finding the best home for your family. 

 

Number three: find professionals.  Surround yourself with professionals.  Find a professional realtor, one that’s good, one that can guide you through this maze, that’s been through the battles.  Also, a professional home inspector, a professional mortgage person.  As I said before, if you don’t know a good professional realtor, give me a call.  I can suggest a great one.  Wink, wink.  Lastly, do the math.  And don’t do it in your head.  Don’t do mental math, but really write down everything on paper.

 

When you go in to look at a home and you’re going to have to recarpet and repaint, get estimates.  Know exactly what you’re dealing with.  Don’t just guess at it because more times than not, you’re not going to be right.  Good luck.  I’ve equipped you with the tools you need to go out and find a great home.  Give us a call if we can help you, 867-3020.  See you next week.