Home Buyers Read This | Sacramento Real Estate Voice

Sacramento Realtor Talks to Home Buyers

February 11th, 2008 categories: Home Buyer, Real Estate Tips

Real Estate is King! There is no doubt in my mind about that. It is the only thing that you can count on to provide shelter, security and a sense of pride that increases in value.

Now, you say Gena, get real! My house has lost value. Yes, it did but you know what? That value will return so just hang on and watch your equity grow. It will come back. Of course if you chose to take all your equity out then it will take longer for your house to increase its value.

Or you say, Gena, I lost my house to foreclosure.

Im sorry to hear that. Did you use a reputable Lender? Were you truthful when you filled out your loan application? Did you think that prices would continue to go up and you would just sell or refinance, when you really knew that you couldnt afford that house?

Thats called speculative buying. And as you can see, that is not the way to buy real estate unless you can afford the payment even if interest rates rise, then you dont buy. I know, its a little late now to do Monday or Sunday night quarter-backing, but its true.

Getting pre-approved for a real estate mortgage loan is essential. Its important to listen to what a reputable mortgage lender tells you, you can afford. It’s very important to understand what kind of home loan you are getting. The best tip I can offer is to make sure that you ask when you don’t understand. You won’t be the first that doesn’t understand. So ask.

As a Realtor, I go a step beyond. Once we determine what a home buyer can afford, we look at the house payment and I always ask each home buyer, what do you feel comfortable spending? Thats important. You dont want to be house poor. Let me say that again.

YOU DONT WANT TO BE HOUSE POOR.

We live in a society where everyone wants to have the best and have it all plus they want it right now!

That is not the responsible way to live. For years, home buyers have purchased houses knowing that in 3“5 years maybe seven, they would sell their house and buy a more expensive home or maybe a house in a different neighborhood.

Home buyers bought small but had a dream of where they wanted to be later. Sometimes that meant buying and selling their houses several times before they ultimately stayed put in that “dream home.”

Its also important to think about your savings account. Do you have money set aside in a savings account, a CD or 401K for a rainy day? What if you were ill for an extended period of time? What if you lost your job? What if that second income stopped? What if there was a recession?

Real Estate is a cycle. Its always been a cycle. Think of a bell curve with a high and a low. Real Estate is a wonderful investment and a sound investment but only if you can afford it. Its important to also mention here that when I say, you need to be approved legitimately for what you can truly afford, its also important to have enough money to keep up with improvements to your home when you become a homeowner.

Homeowners need to be prepared if a roof needs replacing, plumbing leak needs fixing and yearly maintenance of heat and air conditioning as well as updating and maintaining their property. As you can see, buying a house is more than just making that monthly payment.

I love to help home buyers find their new homes and know that each of the home buyers that I have helped truly can afford their house and know the responsibility of home ownership.

Yes, Real Estate is KING but only if you can afford it. Not everyone should be a homeowner. It takes sacrifice, discipline, maturity, responsibility, a reputable Lender and a fantastic Realtor to make it all work.

So, if you are thinking that you might like to join the Real Estate home ownership arena, dont guess call (916.417.2699) or email me and lets get you pre-approved first so that you too, can have a home or at least start preparing to get a house. Lets talk.

If you like what you read here on Sacramento Real Estate Voice simply click and subscribe to get the latest articles sent to your email.

Want to look at homes for sale? Just click Sacramento MLS.

Further Home buyer Real Estate Tips:

If Mama Aint Happy, Nobodys Happy!

Baby Steps When Buying a House

When Should a First Time Home Buyer Buy a House?

First-Time Home buyers Should Take Advantage of the Buyers Market

New Home Buyer Information You Need to Know

Homeowner Tips and Home Buyer Tips

Sacramento Home Buyers, Sellers and Homeowners Ask Realtor “ Oct. 12, 2007

Ask Real Estate Question “ Sept. 12, 2007

Ask Your Real Estate Question “ July 31, 2007

First Time Home Buyers in Sacramento-Congratulations! First Time Homebuyers Check-off List-Part 1 First Time Homebuyers Check-Off List-Part II-Write An Offer

Important Buyer Information

This entry was posted on Monday, February 11th, 2008 at 4:09 pm and is filed under Home Buyer, Real Estate Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Archives

Sacramento Realtor Talks to Home Buyers

Leave a Reply

Real Estate Resources

Local Resources

Sacramento RE Stats

El Dorado RE Stats

Placer RE Stats

Yolo RE Stats

Blogroll