Statistics on the Lodi/Stockton real estate market are noted in the graphics below. Click on the link in the images to get information about what is going on in your.
The Home Buying Process In Six Steps
The home buying process is easy, hard, fun and stressful but the end result is Magic. We have all heard it is the biggest purchase most people will ever make. Today I want to give you my Six steps to buying a home for the first time buyers. let's go,
1. Find a Great real estate agent to represent you.
Finding an agent in the world of real estate is not hard, but finding the right agent can take trial and error. Ask friends, family, and co-workers if they have any recommendations. Don't sign any contracts to work with the first agent you meet unless you are very sure that agent is the right fit for you. A good agent's main focus should be to provide you great service, education, and communication.
2. Get pre-approved with a lender.
Getting pre-approved will let you know what price range house you can afford. If you find you need to work on your credit a good lender will provide you feedback and options on how to move forward. Just remember buying a home is not a race if your credit score is 595 and you can save 1 point on a loan and get a lower interest rate it might be worth it to take a few months and get your score up. It is also a good idea to talk to at least two lenders you may find a better rate or program you qualify for.
3. Start shopping for your dream home.
At this point, you should have had a sit down with your agent and drawn out what your dream home looks like in detail. This will save time and a good agent will be able to pinpoint the exact properties to show you. In today's competitive and tight housing market it is always a good idea to write up a letter to give to the potential sellers of your dream home with a story of you and your family and why you love the house.
4. Find your dream home and begin negotiations.
You saw the house online and fell in love, once you pulled up to the front yard in the neighborhood you love that was pretty much all you needed. The offer is priced right and it seems like forever to get a response. The phone rings and your agent tells you the news...your offer is accepted escrow is open. Or it could go the other way and you have to get back on the field and keep searching. But not in this scenario, next.
5. Inspections, appraisal, meet loan guidelines and timeframes then close on the property.
This is a wonderful time and also can be stressful. The inspections came back with so many issues who is going to pay for what? The appraisal came in low are you willing to overpay? This is where having a Great agent to provide guidance and advice comes in handy. The paperwork and last minute emergencies are handled now you made it to the final step.
6. Congratulations you are now a homeowner.
That feeling of "I own this house, this land, this is mine" is amazing. Starting a new chapter in life as a homeowner is an accomplishment. Yes it comes with big responsibilities but you can handle it, you made it this far "Just keep swimming".