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Buying a House? Hit the Internet First! - 2009-06-28 |
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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
"EPA CERTIFIED RENOVATOR" TRAINING
Do You Work with Real Estate? You Must Be LEAD SAFE CERTIFIED as of April 22nd.
To all owners, realtors, investors, property managers, contractors, electricians, plumbers and painters. Do you ever engage in any level of renovation? If so, read this:
Any renovator, from owners to contractors, from plumbers to electricians to painters, who disturbs lead paint while working in a pre-1978 home, school or day care center, now must be Lead-Safe Certified. If you’re not, you can face tens of thousands of dollars in fines. Plus, you put the health of yourself, your workers and your customers at risk, which could result in lawsuits. One simple 8 hour class certifies you for five years. It’s that easy.
Since April 22, 2010, there are new Federal rules regarding how you perform any work that disturbs lead-based paint in homes, child-care facilities and schools built before 1978. You now must be EPA certified and follow specific work practices to prevent lead contamination.
Failure to follow the new rules can result in federal fines of up to $32,500 per day or up to 5 years in federal prison, or both. Don’t take a chance - it’s not worth it.
How To Become an EPA Certified Renovator:
In just one day, John Adams will teach you how to meet all EPA requirements and become an “EPA Certified Renovator.”
Don’t wait - register now! Click on “Seminars” and choose your day!
- Friday, July 30th at Suburban Plaza, 2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
- Friday, August 06th at Suburban Plaza, 2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
- Friday, August 13th at Suburban Plaza, 2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
- Friday, August 20th at Suburban Plaza, 2643 North Decatur Road
and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
- Friday, August 27th at Suburban Plaza, 2643 North Decatur Road
and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
Total Course Cost: $295, includes exam and EPA-HUD 400 page manual
Space is limited to 20 participants.
Training services provided by Seagull Environmental Management Co, Inc.
Courses are approved for purposed of certification under Section 402 of TSCA for the Certified Renovator.
This course has been approved by the Georgia Real Estate Commission for 7 hours of Real Estate Continuing Education
For more information, call toll-free 888-373-0029
Click above on the "Seminars" button to register
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John Adams Presents
“The MetroVestAtlanta.com REO Bus Tour”
Get on the bus for a tour of South DeKalb County’s “Real Estate Owned”
homes. Each house you visit will be available that day for purchase at
a giveaway price, regardless of current condition. Financing is
available!
Throughout the day, we will hear from mortgage providers, people in the
construction business and property managers all discussing today’s
situation with Bank Owned REO properties.
Who Should Attend: Investors, Realtors, Lenders, Prospective Buyers, and
anyone who might want to buy a super-bargain house and either do the
rehab themselves or have all the work performed by the pros.
You will see abandoned dumps and finished products, and everything
in between. And Snap will be there to answer all your questions and
explain the rehab and rental strategies.
Saturday, August 21st, 9:30 AM to 4:00 PM
Your $49 fee includes the bus tour and lunch. You must make reservations. No walk-ups.
There is limited seating and the seats are filling fast. ACT NOW before you miss the bus.
We will be meeting at Suburban Plaza, 2643 N. Decatur Road and Church Street, Lower Level, Decatur 30033 (beneath Hancock Fabrics, in the arcade.)
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