Insider Real Estate Secrets Revealed! (Educational Course for Home Buyers and Sellers) Lesson # 2
Darren Meade
November 11, 2006
Welcome to this week's edition of Insider Real Estate Secrets Revealed! (Educational Course for Home Buyers and Sellers)
We hope you have learned a tremendous amount from our articles and we look forward to providing more educational material to help you on your home buying or selling journey. In this edition of Insider Real Estate Secrets Revealed, we will discover who REALLY has the lowest Mortgage Rates and Fees?. We will also discuss the 7 sure-fire ways to pass your home inspection with flying colors. So, sit back, relax, and enjoy this edition.
Who REALLY has the Lowest Mortgage Rates and Fees?
Mistake #1: Giving in to the hype
You can't get away from it. Turn on the radio...there it is. Turn on the TV...there it is again. Open the newspaper and - SURPRISE! - there it is again. Every day all across America, consumers are bombarded with ads from mortgage companies, on TV, Radio, Billboards and Newspapers. And every one of those ads says the exact same thing:
We have the lowest rates and nobody can beat our service'.
Because everyone is saying the same thing, you face a frustrating experience when you finally give in and call one of those lenders. Here is an illustration of an all too common experience. You call up XYZ lender and they quote you a rate of 4.76% on a 5/1 ARM Loan. So, you say to yourself, 'wow, what a great rate' and excitedly schedule an application appointment. Then, when you show up to the appointment, the loan officer tells you that you are approved on the 5/1 ARM loan at a rate of 5.75% . This obviously leads to frustration and disappointment in many cases.
So, you might be asking, 'isn't that false advertising?' The answer is no. In many cases, the mortgage rates you hear about on TV and in the newspaper are 100% accurate, but are only reserved for a select group of home buyers. People with perfect credit, and plenty of cash for a down payment. The rate you get depends on these and other factors.
But even if you have perfect credit and a down payment, you might still end up getting caught in the same situation. Rates fluctuate constantly, from day-to-day and even from hour-to-hour. You might get quoted 4.76% on the phone, but by the time you show up for your application appointment, the rate has soared to 6%. It's more common than you might think.
Mistake #2: Becoming a 'Rate-shopper'
Far too many home buyers choose one mortgage company over another based solely on rate. And why not? Shaving a quarter-point off your home mortgage can equal thousands of dollars in savings over the years. But there is a problem. By only focusing on rates and fees, you're missing the 'big picture'. There are literally hundreds of different loan programs available today. This is because there are so many different scenarios. There are fixed loans, adjustable-rate loans, jumbo loans, interest-only loans, etc... You might think you're saving thousands, but if you choose the wrong program for your needs, you might be missing out on not only savings, but much more.
This is why it is critical for you to consult with an experienced, reputable mortgage lender who can analyze your particular scenario and offer you a number of options to choose from. By being informed on all the options, you can choose a loan that helps you:
Save money for your retirement or a child's education
Reduce Your Monthly Payment Burden
Earn equity faster
Pay off your home sooner
And much, much more!
This is why we DO NOT quote rates on our website. Doing so would be a disservice to you, the valued client. Instead, we prefer to conduct a No Cost mortgage consultation...
No Cost Mortgage Analysis
By scheduling a no cost, no-pressure, no hassle, no obligation mortgage consultation with one of our trained staff members, you'll learn the following:
What loan programs are available to you
Which loan programs fit your needs the best
If you qualify for the best rates
How much you qualify for
What your monthly payment would be for a given scenario
How to guarantee you receive the 'Lowest Bottom-Line Cost'on your next mortgage or make $100 in the process
And if, for some reason, you don't qualify, we'll even show you how to get back on track so that you too can live the American Dream.
Don't Wait! Visit our website today and sign up for your no cost Mortgage Analysis.
7 Sure-Fire Ways to Pass Your Home Inspection with Flying Colors
As a home seller, you need to be prepared for your home to come under extra scrutiny during the sales process. Many buyers will insist on a home inspection before they will commit to purchasing your property. There are dozens of very specific things a good Real Estate Inspector will look for when they tour your home.
This report will teach you what problems the inspector will look for and how you can fix these problems before the inspector arrives. Following these tips will ensure that your home receives 'two thumbs up', which will translate into a fast sale that allows you to receive top dollar for your home.
Tip #1 - Start from the Ground Up!
Few things strike fear into the heart of a home buyer like learning about cracks in the foundation of their dream home. Almost all older homes have some diagonal or vertical cracks. These are caused by seasonally high or low temperatures that make your home's foundation expand and contract. So, don't be alarmed if the inspector reports that there is some slight vertical or diagonal cracking.
Now, if the crack in your home is more than 1/8 of an inch wide, or if the crack is horizontal, then you need to be worried. Cracks of this sort are more of an issue and can indicate a serious structural problem. Have any cracks patched, but if the cracks re-open even after patching, you many need to hire a professional to come on-site and assess the situation.
Tip #2 - Water Concerns
Water is your home's worst enemy. In a recent survey of the American Society of Home Inspectors, 40% of the most frequently cited problems were directly related to the damaging effects of water in the home. The most common problem is improper grading, which causes water to flow toward your house, instead of away from it. This can cause water buildup in a basement or crawl space and lead to mold and mildew problems, some of which can be harmful to your health.
How can you tell if you have a problem with water? Look for the following tell-tale signs of water penetration: Presence of mildew or mold, water stains, rusty nails, or peeling paint. The most common sign of water problems: efflorescence. This is a white, crystal-like deposit usually found on walls and floors.
Tip #3 - Roofing Issues
Roofing issues are generally uncommon, but should still be an area of concern for an inspector. The main thing inspectors look for is evidence of roof leakage. Roof leakage is most commonly caused by missing or damaged shingles, or improperly installed flashing.
Here are some simple ways for you to detect roofing problems, before the inspector does: Inside your home, go around and check all of your ceilings. Be on the lookout for water stains, loose or sagging plasterboard, and peeling paint. If you spot a roofing problem, call someone out to fix it, and then repair any visible damage, before the inspector arrives!
Tip #4 - Electrical Problems
According to surveys, the second most common problem found by inspectors is improperly installed wiring or overloaded circuitry. If you have had any noticeable electrical problem in the recent past (i.e., having to constantly reset a circuit breaker), you should have an electrician investigate the problem. When the inspector visits, he or she will look for use of extension cords, multiplier plugs and power strips. If there are signs of too many appliances or electronic devices plugged into one area of your home, this will be cause for alarm. Overloaded circuits (those loaded over 15 amps) are a major fire-hazard and should be dealt with immediately.
Tip #5 - If you can't take the heat.
get out of the kitchen and go check your heating system. If you have a forced-air heating system in your home, you need to know its age. Heating systems older than 15-20 years generally need replacement. Forced air systems draw air from intake vents. Locate one of these vents and when you hear your heater kick on, place a tissue paper in front of it. If the tissue is not immediately sucked toward the vent, it's likely that there is a circulation problem that needs to be addressed. Sometimes, simply replacing an old, dirty air filter will do the trick.
Tip #6 - Water Pressure
Older homes many times have water pipes that are clogged by or corroded with mineral deposits. This can cause your water pressure to be to low, which is an issue. To assess water pressure, home inspectors typically turn on the sink and shower and then flush the toilet, all at the same time. If the pressure is too low, the shower and sink faucets will display a lower flow level while the toilet is filling. If you can hear water running through the pipes in the walls, this can be a sign the pipes are too small to handle the flow.
Tip #7 - Inspect the Inspector!
As the home seller, you may be required to pay for a home inspection. But even if you are not footing the bill, you need to investigate the person conducting the inspection. What the inspector reports could save or cost you thousands of dollars. Here are some questions you need to ask before allowing someone to inspect your home.
How much experience does the inspector have? (You want someone who has at least 3+ years of experience and who has personally inspected in excess of 150 homes)
Because different states have different requirements for home inspectors, you should make sure, at the very least, that the inspector is a member of the ASHI (American Society of Home Inspectors). If your state has licensing or certification requirements for inspectors, make sure your inspector holds all necessary credentials.
Is the Inspector bonded and insured? Inspectors have to climb through attics, and walk on top of your roof. If there is an accident and the inspector is not insured, you could be liable.
You should also tell the buyer that if you disagree with the inspection report, you have the right to hire your own inspector to provide a second opinion. This will ensure that the buyer cannot bargain down the price of your home based on problem improperly cited by a certain inspector.
Conclusion
We hope this report has been a great help to you. We appreciate you taking the time to visit our website. Before you close this report, don't forget to take advantage of our No Cost Home Seller 'Power Package'.
This package includes:
No Cost Report, '25 Ways To Make Your Home Sell.FAST!'
Get Pre-approved for your next home loan, at no cost!
Find your next home using our No-Cost 'VIP Home Buyer Program'
Learn how to properly price your home and factor in market conditions
Find a Top Realtor® in this area using our No Cost 'Agent Locator Service'
Why are we offering all of this at no cost? Simple - if we do a good job helping you prepare, maybe we can earn your mortgage business. We are sure willing to try. Are you willing to give us a try?
Don't wait. Visit our website and request your no cost 'Home Seller Power Package'. We'll promptly send you the no cost Report. This is 100% No Cost, and there is NO Obligation.
We hope you have learned a tremendous amount from our articles and we look forward to providing more educational material to help you on your home buying or selling journey. In this edition of Insider Real Estate Secrets Revealed, we will discover who REALLY has the lowest Mortgage Rates and Fees?. We will also discuss the 7 sure-fire ways to pass your home inspection with flying colors. So, sit back, relax, and enjoy this edition.
Who REALLY has the Lowest Mortgage Rates and Fees?
Mistake #1: Giving in to the hype
You can't get away from it. Turn on the radio...there it is. Turn on the TV...there it is again. Open the newspaper and - SURPRISE! - there it is again. Every day all across America, consumers are bombarded with ads from mortgage companies, on TV, Radio, Billboards and Newspapers. And every one of those ads says the exact same thing:
We have the lowest rates and nobody can beat our service'.
Because everyone is saying the same thing, you face a frustrating experience when you finally give in and call one of those lenders. Here is an illustration of an all too common experience. You call up XYZ lender and they quote you a rate of 4.76% on a 5/1 ARM Loan. So, you say to yourself, 'wow, what a great rate' and excitedly schedule an application appointment. Then, when you show up to the appointment, the loan officer tells you that you are approved on the 5/1 ARM loan at a rate of 5.75% . This obviously leads to frustration and disappointment in many cases.
So, you might be asking, 'isn't that false advertising?' The answer is no. In many cases, the mortgage rates you hear about on TV and in the newspaper are 100% accurate, but are only reserved for a select group of home buyers. People with perfect credit, and plenty of cash for a down payment. The rate you get depends on these and other factors.
But even if you have perfect credit and a down payment, you might still end up getting caught in the same situation. Rates fluctuate constantly, from day-to-day and even from hour-to-hour. You might get quoted 4.76% on the phone, but by the time you show up for your application appointment, the rate has soared to 6%. It's more common than you might think.
Mistake #2: Becoming a 'Rate-shopper'
Far too many home buyers choose one mortgage company over another based solely on rate. And why not? Shaving a quarter-point off your home mortgage can equal thousands of dollars in savings over the years. But there is a problem. By only focusing on rates and fees, you're missing the 'big picture'. There are literally hundreds of different loan programs available today. This is because there are so many different scenarios. There are fixed loans, adjustable-rate loans, jumbo loans, interest-only loans, etc... You might think you're saving thousands, but if you choose the wrong program for your needs, you might be missing out on not only savings, but much more.
This is why it is critical for you to consult with an experienced, reputable mortgage lender who can analyze your particular scenario and offer you a number of options to choose from. By being informed on all the options, you can choose a loan that helps you:
Save money for your retirement or a child's education
Reduce Your Monthly Payment Burden
Earn equity faster
Pay off your home sooner
And much, much more!
This is why we DO NOT quote rates on our website. Doing so would be a disservice to you, the valued client. Instead, we prefer to conduct a No Cost mortgage consultation...
No Cost Mortgage Analysis
By scheduling a no cost, no-pressure, no hassle, no obligation mortgage consultation with one of our trained staff members, you'll learn the following:
What loan programs are available to you
Which loan programs fit your needs the best
If you qualify for the best rates
How much you qualify for
What your monthly payment would be for a given scenario
How to guarantee you receive the 'Lowest Bottom-Line Cost'on your next mortgage or make $100 in the process
And if, for some reason, you don't qualify, we'll even show you how to get back on track so that you too can live the American Dream.
Don't Wait! Visit our website today and sign up for your no cost Mortgage Analysis.
7 Sure-Fire Ways to Pass Your Home Inspection with Flying Colors
As a home seller, you need to be prepared for your home to come under extra scrutiny during the sales process. Many buyers will insist on a home inspection before they will commit to purchasing your property. There are dozens of very specific things a good Real Estate Inspector will look for when they tour your home.
This report will teach you what problems the inspector will look for and how you can fix these problems before the inspector arrives. Following these tips will ensure that your home receives 'two thumbs up', which will translate into a fast sale that allows you to receive top dollar for your home.
Tip #1 - Start from the Ground Up!
Few things strike fear into the heart of a home buyer like learning about cracks in the foundation of their dream home. Almost all older homes have some diagonal or vertical cracks. These are caused by seasonally high or low temperatures that make your home's foundation expand and contract. So, don't be alarmed if the inspector reports that there is some slight vertical or diagonal cracking.
Now, if the crack in your home is more than 1/8 of an inch wide, or if the crack is horizontal, then you need to be worried. Cracks of this sort are more of an issue and can indicate a serious structural problem. Have any cracks patched, but if the cracks re-open even after patching, you many need to hire a professional to come on-site and assess the situation.
Tip #2 - Water Concerns
Water is your home's worst enemy. In a recent survey of the American Society of Home Inspectors, 40% of the most frequently cited problems were directly related to the damaging effects of water in the home. The most common problem is improper grading, which causes water to flow toward your house, instead of away from it. This can cause water buildup in a basement or crawl space and lead to mold and mildew problems, some of which can be harmful to your health.
How can you tell if you have a problem with water? Look for the following tell-tale signs of water penetration: Presence of mildew or mold, water stains, rusty nails, or peeling paint. The most common sign of water problems: efflorescence. This is a white, crystal-like deposit usually found on walls and floors.
Tip #3 - Roofing Issues
Roofing issues are generally uncommon, but should still be an area of concern for an inspector. The main thing inspectors look for is evidence of roof leakage. Roof leakage is most commonly caused by missing or damaged shingles, or improperly installed flashing.
Here are some simple ways for you to detect roofing problems, before the inspector does: Inside your home, go around and check all of your ceilings. Be on the lookout for water stains, loose or sagging plasterboard, and peeling paint. If you spot a roofing problem, call someone out to fix it, and then repair any visible damage, before the inspector arrives!
Tip #4 - Electrical Problems
According to surveys, the second most common problem found by inspectors is improperly installed wiring or overloaded circuitry. If you have had any noticeable electrical problem in the recent past (i.e., having to constantly reset a circuit breaker), you should have an electrician investigate the problem. When the inspector visits, he or she will look for use of extension cords, multiplier plugs and power strips. If there are signs of too many appliances or electronic devices plugged into one area of your home, this will be cause for alarm. Overloaded circuits (those loaded over 15 amps) are a major fire-hazard and should be dealt with immediately.
Tip #5 - If you can't take the heat.
get out of the kitchen and go check your heating system. If you have a forced-air heating system in your home, you need to know its age. Heating systems older than 15-20 years generally need replacement. Forced air systems draw air from intake vents. Locate one of these vents and when you hear your heater kick on, place a tissue paper in front of it. If the tissue is not immediately sucked toward the vent, it's likely that there is a circulation problem that needs to be addressed. Sometimes, simply replacing an old, dirty air filter will do the trick.
Tip #6 - Water Pressure
Older homes many times have water pipes that are clogged by or corroded with mineral deposits. This can cause your water pressure to be to low, which is an issue. To assess water pressure, home inspectors typically turn on the sink and shower and then flush the toilet, all at the same time. If the pressure is too low, the shower and sink faucets will display a lower flow level while the toilet is filling. If you can hear water running through the pipes in the walls, this can be a sign the pipes are too small to handle the flow.
Tip #7 - Inspect the Inspector!
As the home seller, you may be required to pay for a home inspection. But even if you are not footing the bill, you need to investigate the person conducting the inspection. What the inspector reports could save or cost you thousands of dollars. Here are some questions you need to ask before allowing someone to inspect your home.
How much experience does the inspector have? (You want someone who has at least 3+ years of experience and who has personally inspected in excess of 150 homes)
Because different states have different requirements for home inspectors, you should make sure, at the very least, that the inspector is a member of the ASHI (American Society of Home Inspectors). If your state has licensing or certification requirements for inspectors, make sure your inspector holds all necessary credentials.
Is the Inspector bonded and insured? Inspectors have to climb through attics, and walk on top of your roof. If there is an accident and the inspector is not insured, you could be liable.
You should also tell the buyer that if you disagree with the inspection report, you have the right to hire your own inspector to provide a second opinion. This will ensure that the buyer cannot bargain down the price of your home based on problem improperly cited by a certain inspector.
Conclusion
We hope this report has been a great help to you. We appreciate you taking the time to visit our website. Before you close this report, don't forget to take advantage of our No Cost Home Seller 'Power Package'.
This package includes:
No Cost Report, '25 Ways To Make Your Home Sell.FAST!'
Get Pre-approved for your next home loan, at no cost!
Find your next home using our No-Cost 'VIP Home Buyer Program'
Learn how to properly price your home and factor in market conditions
Find a Top Realtor® in this area using our No Cost 'Agent Locator Service'
Why are we offering all of this at no cost? Simple - if we do a good job helping you prepare, maybe we can earn your mortgage business. We are sure willing to try. Are you willing to give us a try?
Don't wait. Visit our website and request your no cost 'Home Seller Power Package'. We'll promptly send you the no cost Report. This is 100% No Cost, and there is NO Obligation.
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