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Glassell Park Home Buying Class


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Glassell Park Home Buying Class

  1. 1. Home Buying Class Presented by Ryan Hanke and Sean Hughes
  2. 2. MEET RYAN & SEAN
  3. 3. Please make sure you get checked in with us before the end of the classDID YOU GET CHECKED IN?
  4. 4. 1. Your name 2. Why are you here? 3. Have you purchased a home before? 4. What area are you looking in? WHO ARE YOU?
  5. 5. About Redfin A Better Way to Buy & Sell On Your Side Redfin agents are paid a salary and results of a survey each customer on our service and pay a bonus based on the review. Smarter & Faster Our technology makes home tours, listing debuts, the escrow process, faster easier and worry-free. You Get More Customers save thousands due to our commission refunds and lower listings fees for full-service representation 100% Team Support We accommodate to your schedule by working with a team to tour homes and work on transactions.
  6. 6. Local Real Estate Trends1 Home Buying Process2 Finance Your Home3 The Closing Process4 Agenda Break!
  7. 7. Local Real Estate Trends
  8. 8. Median Sale Price • Compare neighborhoods at the Redfin Data Center: • Updated every 15–30 minutes
  9. 9. Days On Market • Compare neighborhoods at the Redfin Data Center: • Updated every 15–30 minutes
  10. 10. Be Prepared to Compete • Redfin agent insights: Tips on why an offer was accepted/rejected and how to be prepared in each local market
  11. 11. Home Buying Process
  12. 12. Research1 Search for Homes2 Make Your Offer4 Closing Process5 Overview of the Home Buying Process Finance Your Home3
  13. 13. Before You Buy • Rent vs. own • Length of ownership • Life changes (family, job) • Personal finances
  14. 14. Research • Mortgage loans & pre- approval • Home wish list • Location & neighborhoods • Real estate agents & reviews
  15. 15. Choosing a Lender Redfin Open Book • Shows customer ratings of local lenders • Select your city in the dropdown on the right side • Choosing a local lender vs. someone out of state
  16. 16. Search for Homes • Wish list for home features, # of bedrooms, etc. • Check out open houses • Save Searches on Redfin mobile app & • See homes in person with Book it Now on Redfin mobile.
  17. 17. How to Navigate Home Listings on Redfin • Schedule a tour, agent review, number of beds/baths, favorite or x-out a home
  18. 18. Touring Homes is Simple with Book It Now 1 2 3 4
  19. 19. Break! 1 2Try book it now! Get an edge and set up Saved Searches for the neighborhoods and homes you’re searching for Refill your drinks, stretch your legs & check out our mobile tools!
  20. 20. Finance Your Home
  21. 21. Eric Vavere NMLS ID 383881 Mortgage Consultant  Cell/Text:  949‐413‐3528 Office: 949‐379‐8072 Fax: 949‐266‐8647 
  24. 24. PRE APPROVAL Work History • W2 Forms • Pay Stubs • Tax Return Docs Credit Rating and History • Credit Report • Credit Score Total Debt • Bank Account Info • Student Loans • Car Loans • Credit card Debt, etc. Down Payment • Proof of funds Investments and Assets • Two Months of Statements • 401(k) Docs Residence History • Landlord Info • Mortgage Docs
  25. 25. Getting pre-approved Income • Salary — Past 30 days • Hourly — Consistency & History • Self Employed — Two-year average Assets • Down Payment • Closing Costs • Cash Reserves Credit • 640 for FHA • 680 for Conventional • 720 for Rate Improvement
  26. 26. TYPES OF LOANS Conventional: • As low as 5% down • Fixed or adjustable rates, conforming or non- conforming Federal Housing Administration Loan (FHA): • Always have mortgage insurance • Buyers need only a 3.5% down payment Jumbo Loan: • Larger down payment required • More restrictive debt-to-income ratios VA Guaranteed Loan: • Veterans, active duty personnel, reservists/national guard, surviving spouses • No down payment
  28. 28. TOTAL RETURN:  $131,283  TAX BENEFIT……………………….. $22,942  PRINCIPAL REDUCTION………. $33,100  APPRECIATION…………………… $75,241
  29. 29. Questions on Lending?
  30. 30. Make Your Offer • Pricing & comparables • Common contingencies • Negotiations • Mutual acceptance
  31. 31. The Closing Process
  32. 32. The Closing Process Your offer is accepted, now what? Deposit Earnest Money This shows the seller you are serious about your offer Title / Attorney Your title company or attorney will review the ownership history and title for liens, encroachments and easements Inspection / Finance Schedule a professional home inspection and have your lender submit your loan paperwork. Sign Paperwork Take your final walkthrough of the home then sign paperwork at your closing appointment Accept keys, Redfin Refund! Your refund may be used towards closing costs. Don’t forget to fill out your survey! 1 2 4 5 3
  33. 33. Congratulations! You Bought a Home!
  34. 34. Get More From Redfin Explore our online tools, Redfin Home Affordability Calculator, Redfin Home Value Tool, Book it Now Take Redfin with you Download the Redfin real estate app for iPhone, iPad, and Android. Sell your home Homes listed with Redfin are viewed three times as often as other homes and sell for $5,100 more on average — for only a 1.5% listing fee. Check out more classes Including market trends, mortgages, home selling classes, and more at
  35. 35. Jennifer Wenzlaff Ryan Hanke Thank You For Coming!