Jeff Edmisten & Ruthie Buck We want to thank you for taking a few minutes to review this brochure. We appreciate the opportunity to earn your business, and realize that selecting a REALTOR to guide you through the purchase of your home is a very important decision. Our mission is to connect buyers with the best possible deal on their dream home. That is the way we embrace every day and every client, with a willingness to fight to protect every dollar of our client’s investment. Our promise to you is that we will provide an uncompromising commitment to exceptional personal service.
What our clients say…A friend recommended Jeff to me as we searched for a home in Virginia while stillliving in California. Jeff did all of the legwork for us as we house hunted from acrossthe country. He responded immediately to questions, was very thorough in hisresponses, and demonstrated respect for our needs and wants in a home.When we fell in love with a house that we saw online, Jeff went to the house the verynext morning to check it out for us. Jeff felt that the house was going to sell veryquickly, so we took a very big risk and put a bid on it without actually seeing it. Whilesome thought we were crazy, we had enough faith in Jeff’s assessment of the houseand the market to trust his judgment.He ended up being exactly right. There were multiple offers on the house within days,and Jeff went to bat for us when it came down to one other offer vs. ours. We hadgiven up hope, but Jeff pushed the sellers and their agent, and they ended upaccepting our offer.I am writing this recommendation from the home that we are in thanks in large partto Jeff and Ruthie. I cannot recommend them highly enough. Their hard work,knowledge, expertise, courtesy, and respect for their clients and their needs isinvaluable to anyone wishing to buy or sell a home. Kerry McShea Stafford, Virginia
How much home will your rent payment buy?• Many renters think that they really can’t afford to buy a home.• Here is a quick way to estimate how much house your monthly rent payment would buy.• Multiply your monthly rent payment by 175. For instance if your rent payment is $1200 per month, that same monthly payment would equate to a home priced at approximately $210,000.This is only a quick way to estimate buying power, anddepends upon current mortage interest rates and multipleother factors.
Home Ownership Builds Wealth• Except in rare circumstances, Trade down in later years and home owners build wealth with use the equity you built to their home. buy a smaller home, thereby reducing your debt.• Homes generally increase in wealth over time. Access your equity via a home equity line of credit.• Well chosen home improvements can add significant value to your home. Reverse mortgage – have your home’s equity providing you monthly cash flow
Don’t OverspendA word of warning…YOU decide how much home you canafford. Not your lender, or REALTOR, oranyone else.Your lender can tell you how much youqualify for, but not what you can afford.You should own your home. Your homeshould NOT own you!
Picking a lender Attributes to look for in a lender Straightforward and transparent Local approval and underwriting Understands the market & your goals Competitive interest rates Organized and detailed oriented
The Financing Process Determine your budget and how much you can afford. Two most recent pay stubs. W-2 forms for the past two years. Get pre-approved for a Federal tax returns for the mortgage. past two years. Last two months bank Gather the documents statements. Long-term debt information you’ll most likely need. such as credit cards, auto loans etc.
Getting Approved A lender will check your credit to see if you’re a good candidate for a loan. If your credit rating is poor, there are things you can do to improve it. Make sure the report is correct. If not, call to fix it. Begin to pay your bills on time. Use two to four credit cards so you can keep track of them. Keep a separate checking and savings account. Keep the same job for a few years
Pre-Approved vs. Pre-Qualified Pre-Approved: confirmation the lender will give you a commitment to support your purchase. Pre-Qualified: an estimate of what you can afford. Being pre-approved makes you a more attractive candidate to the seller when making an offer.
Deciding On A MortgageFixed Rate Mortgage:The interest rate stays the same forthe entire term of the loan.Adjustable Rate Mortgage:The interest rate is linked to afinancial index and may fluctuatewith market conditions. As such,payments may vary over the life ofthe loan.
No prepayment penaltyAvoid loans with prepaymentpenalties Some mortgages include aclause that penalizes you for paying offthe loan faster or earlier than planned.These penalties can cost as much asseveral percentage points payoffbalance.There are few circumstances where youshould be in a loan that includes aprepayment penalty.
Calculating Your Budget To estimate your budget, add up your total financial worth and then subtract all the cost in the purchase. Some expenses you may carry: Down payment Mortgage Insurance Taxes Points Attorney’s fees
The Fun BeginsThings to consider: Size of property Type of neighborhood you desire Quality of school system Nearby public transportation Urban or suburban
Picking a neighborhoodElements of a good neighborhood: Economically sound Great amenities Quality schools Low crime Stable ownership Pride of ownership
Choose your REALTOR A great agent can help you find your home, negotiate, supervise inspections, manage the closing and MUCH more.Your agent should… Educate and inform you Guide you, but not push you Advise you when to call in additional experts Be a full-time agent Have great client references
Multiple Listings, Open Houses & SpecialFeaturesAs your Coldwell Banker®Sales Associates, we can showyou every home availableon the market that meetsyour specific needs.
Online AccessJeffandRuthie.com providesaccess to every home sale listingthrough the local multiple listingservice. (MLS)There are many ways you can searchfor your next home using our website.The most popular method is using theReal Estate Search form foundthroughout the site.Many others prefer the CommunitiesPages, which provides instant accessto homes for sale within that specificcommunity.
Online AccessSearching homes from your mobiledevice? No problem!Our Coldwell Banker Home andLifestyle App makes searching forhomes on your smart phone or iPadfun and efficient. iPad Screen ShotGet yours today!Text "KP9" to 87778 to get theColdwell Banker Elite Home andLifestyle App.
Buyers ResourcesThere is more to JeffandRuthie.comthan just home searching. There is awealth of resources, like our free homebuyer reports to help you save moneyand avoid costly mistakes. FREE BUYER REPORTS • Top Ten First Time Home Buyer Mistakes To Avoid • 7 Secrets for Saving Thousands When Financing Your Home • 4 Quick Ways To Buy A Home With Little Down • 8 Secrets For Saving Thousands When Buying Your Next Home • How To Avoid 8 Dumb Mistakes Even Smart Investors Make
Writing the Offer Once you’ve found the perfect home, we will develop a Comparable Market Analysis (CMA) of the property to find a fair market value range. This will help you decide how much to offer for the home.
Writing the Offer Then, we will write up the offer and ensure all paperwork and activities are completed so you can close on your property.
Contingencies Think of contingencies in your contract as escape hatches. You only need them if something goes wrong, but if it does, your contingencies give you a way out… and protect your investment. Some contingencies that may be included in your contract to protect you… • Home inspection • Radon inspection • Termite inspection • Well and septic inspection • HOA documents • Financing • Appraisal
The Closing This is the meeting where the transaction is finalized. We will guide you through all closing procedures to make your home officially yours.