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Sunday, 28 June 2009 |
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BUYING A HOUSE? HIT THE INTERNET FIRST!
According to statistics published in 2008 by the National Association
of Realtors, 87 percent of all homebuyers used the Internet as an
information source in their search for a home. Frankly, I am surprised
it's not even higher than that.
There are so many useful things that a buyer can learn on the Internet,
and most of it is free. Here are three of the most worthwhile places
you may want to visit, even before you see your first house in person:
1. AnnualCreditReport.com is the federally mandated site where the
three national credit repositories are required to give you one free
copy of your credit report during each calendar year.
This site is a good place to start because much of the homebuying
process revolves around financing. And your success at obtaining a loan
is directly linked to the information contained in your credit history
reports maintained by Equifax, TransUnion, and Experian. Because the
process is based on your name and address, and because many people have
common names (like John Adams), mix-ups often occur. And if the
misplaced information is "derogatory," you may be unable to qualify for
the loan you need.
That's why I recommend you start with a copy of all three credit
reports. It's free and you can easily spot info that does not apply to
you. Now is the time to get it corrected or removed. Know that your
free report will not include your credit score, but will reveal the
core data used to calculate it. Typically, the agencies will respond to
reports of errors within 30 days.
2. Bankrate.com is one of many sites that offers free loan
prequalification tools to help you gain insight into how much loan you
can afford and what your monthly payments will likely be. While at
their site, my advice is to stick to their helpful mortgage
calculators. I have found the lenders who advertise most heavily on
Bankrate don't always have the best rates available.
In addition, I like their commentary on interest rate direction and how
to save money in the borrowing process. That general information can be
applied to most any borrowing situation, including yours.
3. Finally, at Realtor.com, resist the temptation to enter your zip
code in the search box to start looking at houses. We'll get to that
part later.
Instead, look down the left side of the start page and click through to
"Advice & Ideas" and then "Real Estate 101." Once there, click
"Buying" and you will find a world of informative articles and
strategies designed to help you find the right house in the shortest
time possible.
In addition, their Ten Steps to Homeownership is a worthwhile read, even for veteran buyers.
Not all websites are as helpful as these. Next week, we'll look at some places to avoid on the world wide web.
Questions or comments?
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Upcoming Events
JULY SEMINARS
Celebrate your Independence at the Financal Freedom Seminar
No More Excuses - You can attend the Financial Freedom Seminar for only $19.
Times have changed. Today, you can no longer count on inflation to bail out any purchase you make. Interest rates are low and foreclosure rates are at an all-time high. Is there a way to make money, even today, in this Georgia real estate market? The answer is a resounding YES!
Over the past two decades, literally thousands of Georgians, from all walks of life, have attended my Real Estate Training Seminars. Many of those are now financially independent and numerous millionaires attribute their wealth to my teachings. It's not a question of whether or not you can make money in real estate - the only question is: Are you going to participate in one of the hottest buying markets in real estate history?
My seminar, called the FINANCIAL FREEDOM Seminar, will show you HOW to achieve personal Financial Freedom, whether you are an experience investor or first-timer. If you are ready for a life-changing step toward Financial Independence, simply attend my upcoming program and buckle your financial seatbelt!
$19 person; $29 at the door
Click on "Seminars" to register
Dates & Locations:
- Tuesday, July 14th, at the Holiday Inn Select, 4386 Chamblee-Dunwoody Road, Atlanta, 6:15 P.M. until 9:30 P.M.
- Saturday, July 18th, at the Simpsonwood Conference Center, 4511 Jones Bridge Circle, Norcross, 2:00 P.M. until 5:00 P.M.
This course is approved by the Georgia Real Estate Commission for 3 hours of Real Estate Continuing Education.
******************
REAL ESTATE INVESTOR'S INSTITUTE
3-Day Intensive
July 25, 26 & 27, 2009
This three day program presents a comprehensive program of wealth
creation in residential real estate. Nine expert instructors cover all
areas of investing. Day One focuses on the basics of finding and buying
bargain properties, how to structure contracts and financing, how to
inspect, renovate and resell, and how to value and market houses. Day
Two covers advanced topics such as the use of title holding trusts,
aggressive tax avoidance, tax-deferred exchanges, and creative
retirement strategies. Day Three is spent actually viewing available
properties and then making offers on those properties! Also covered in
detail is the use of IRA funds to invest in real estate related
instruments. This is the most comprehensive course of its kind
anywhere. Luncheon is included all days. Class size is limited to about
75 investors.
This course approved for 12 hours Continuing Education by the Georgia Real Estate Commission.
Detailed information available via the "Seminars" button at the top of this page
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