• Roofs, gutters and downspouts
• HVAC systems (heating, venting and air conditioning)
• Plumbing and electrical
• Minor kitchen and bath remodels
• Flooring: carpet, tile, wood, etc.
• Interior and exterior painting
• New windows and doors
• Weather stripping & insulation
• Improvements for persons with disabilities
• Energy efficient improvements
• Stabilizing or removing lead-based paint
• Decks, patios, porches
• Basement completion and waterproofing
• Septic or well systems
• Purchase of new kitchen appliances or washer / dryer

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When looking for the perfect neighborhood for you and your family,  there are certain things  that you can look for including……

1. Make a list of all of the amenities that are close by in the neighborhood you are considering as your new residence.  Keep in mind what distances and routes to each of these places are acceptable and what are not.

2. Determine what the best features of the neighborhoods are.  This is especially helpful if you are deciding between a few different neighborhoods.

Are there parks nearby?
Is it scenic and visually appealing?
Are there quiet areas, streets, culs de sac?
Are the people friendly in the neighborhood?
Is the neighborhood clean?  Yards, streets, parks?
Are there nice trees and foliage?
Do the lots have large or small yards?
Are there walkways and are they easily accessible?
Is it a safe neighborhood?
What are the market values of the homes in the area?
Are there many houses for sale?
How long ago was the community developed?
What is the average age of the people in the area?
Are there families with small children in the area?
What is the proximity to schools?
Are there community events or organizations?

3. Walk around in the neighborhood.  The best way to determine the cleanliness and friendliness of the neighborhood is to walk around in it and meet its residents.

^{Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137 / Website:  www.rodpotter.com}

Closing costs are out-of-pocket expenses paid by a homebuyer before the property transfer is finalized.  Many expenses are associated with buying a home in addition to the cost of assuming a mortgage.  Closing costs can vary significantly from one transaction to another, and often depend on a number of factors, including the price of the home, the area in which you are buying, and the type of mortgage that you have selected.

Yet closing costs are not the only upfront expenses that will need to be paid when you are purchasing a home.  You may be required to make a down payment, pay for a home inspection, cover escrow fees, make advance deposits, and incur other types of miscellaneous costs.

Realtors are knowledgeable about the out-of-pocket costs that buyers face when purchasing a new home.  The have extensive experience dealing with closing companies, different types of mortgage programs, and escrow accounts. Therefore, your realtor can be a source of valuable information about buyers´ costs.

This list of possible fees covers many of the items for which you will need to have cash on hand, although it may not be an all-inclusive list. Fortunately, you probably will not be subject to all these types of costs. The specific costs will depend on your particular situation.

Closing Costs
Closing costs are those costs paid by the buyer to the closing company that finalizes the home-purchase transaction. Some sellers will offer to pay a portion of the buyer´s closing costs. In addition, some mortgage programs will offer funding for closing costs, often in the form of a second mortgage or a line of credit.

Down payments are not considered to be part of the closing costs, even though they are generally due on or before the date of closing. Again, assistance programs are available for paying these costs.  Particularly if you are a first-time buyer, it makes sense to research all the available options.

Your realtor can offer extensive information about specific first-time homebuyer assistance programs and can assist you in determining whether the seller is willing to assume some of your closing costs.

Down Payment
A down payment is usually required by your mortgage company.  Some lenders may have special loan programs that offer a 0% down payment. However, you can generally assume that you will be responsible for providing at least a small percentage of the home´s cost as a down payment.

There are federal and state restrictions on the sources of funds that a buyer can use for a down payment.  Lenders may have additional criteria and restrictions.  To use gift funds for a down payment, a buyer usually has to have had that money in his or her possession for a certain period of time.

Investigate down-payment requirements when you are shopping for mortgage programs. This is often a good way to determine which program is best for your specific situation.

Inspection Costs
In most real-estate transactions, the buyer hires a professional home inspector to perform a detailed inspection of the property that he or she wishes to purchase. The buyer is responsible for paying these home-inspection costs.  Spend as much as necessary to obtain a high-quality inspection from a certified inspector.  The up-front investment can help you avoid incurring significant additional expenses in the future.

Your mortgage lender will probably require an appraisal inspection in addition to the home inspection.  The purpose is to evaluate the true worth of the home that you are buying.  A lender will not want to lend you an amount that is significantly greater than the appraised value.  Situations vary, and depending on the home´s location and your lender´s rules, the amount that you can borrow will vary.

Private Mortgage Insurance
Private mortgage insurance is an expense that potential buyers hope to avoid.  It is not required for all mortgage-based home purchases. Whether you will be required to have this insurance depends on your financial situation and your lender´s policies.

Private mortgage insurance (PMI) is a cost associated with taking out a mortgage when the buyer is unable to provide what the lender considers to be a suitable down payment.  Usually the cost of PMI is wrapped into your monthly mortgage payment, but you will probably need to pay an upfront PMI application fee.

New Construction Inspections
This up-front-cost will be part of your costs only if you opt to build a new home.  Most mortgage lenders insist that you independent inspections are conducted throughout the home-building process in order to protect their, and your, interests.

Up-Front Interest
Some lenders require that buyers pay the interest accrued from the closing date to the date of the first mortgage payment on or before the day of closing.  Your lender will be able to provide you with that amount well in advance of the closing.

Credit-Report and Mortgage-Application Fees
Some lenders will waive these fees or wrap them into the amount of the mortgage payment.  A credit-report fee is charged to a mortgage applicant to cover the costs of pulling the potential borrower´s credit report as part of the application process.  This fee should never be significantly higher than the actual cost of the report.  Read your lender´s fee disclosure carefully before selecting a mortgage program. Ask your realtor about ways to decrease the credit-report fee assessed by most lenders.

A mortgage-application fee is basically the cost of doing business for a potential mortgage borrower.  This fee is assessed by the lender in order to cover the clerical and administrative costs associated with processing a mortgage application.  Again, your realtor may be able to assist you in finding ways to reduce these costs.

Transfer Fees
Depending on where you are purchasing a home, you may be required to pay a transfer fee to cover the cost of transferring property records from the seller to you, the new buyer.

Impact Fee (Home Association Fee)
This fee is applicable only if you are purchasing a town home, a condo, or a house that is governed by a homeowners´ association.  Your realtor can help you evaluate the associated fees and determine whether you would be responsible for paying them.  Impact costs are almost always paid on the day of closing, but the actual amount will depend on the specific circumstances.

This list of buyers´ costs is not all-inclusive, but it does include the most common costs that a homebuyer needs to pay before the home transaction is finalized.

Many years of experience have taught realtors to find out whether sellers might be willing to reimburse you for some of your out-of-pocket, up-front expenses. They also know ways to get the costs included in your mortgage amount.

Buying a home requires a tremendous amount of research.  By being prepared to cover the miscellaneous upfront costs of your home purchase, you will save a significant amount of interest in the long run.

^{Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137}

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Many of the advantages of home ownership are not immediately obvious. However, when you are weighing the pros and cons of buying over renting, understanding these advantages can definitely allow you to make a more educated decision.

For example, consider the down payment that most lenders require.  Unless you qualify for a special mortgage program or have an absolutely perfect credit history, most lenders will require that you make a down payment equal to 20% of the purchase price.  That down payment can be quite significant! If you are purchasing a home for $300,000, a 20% down payment amount will be $60,000.  The primary purpose of these funds is to provide a measure of security for the lender, but there is a secondary purpose that benefits the home buyer.

What is the benefit to the home buyer? The funds that you provide as a down payment actually serve as a high-performing investment vehicle that will help you to plan and save for your future. How?

How Is This Possible?
There is a simple calculation, but the answer is actually fairly complex. Homes generally appreciate in value at a rate of five percent per year.  Therefore, let´s assume that your home´s value will increase to $315,000 in just one year. This means that you´ll have earned $15,000 and the value of your initial investment has grown by 25% in only one year! What other investment mechanism do you know of that can provide that amount of security and be as enjoyable as owning your own home?

And there are additional benefits when you buy a home. Your savings actually continue when you purchase a home, because many tax deductions and benefits are available only to home owners.  You can deduct the interest that you pay on your mortgages at the end of every tax year ? and your property taxes are deductible too.  These deductions are used to lower your taxable income. With a $300,000 home, you can expect to reduce your taxable income during the first year alone by around $30,000.  This tax benefit is one of the best reasons to consider buying versus renting.  When you rent, you are not eligible for this reduction in taxable income.

These deductions create a fantastic advantage for buying over renting.  And, as if that weren´t enough, consider that you will have a stable and unchanging housing payment for the duration of your mortgage.  In contrast, rental prices increase frequently, usually every year.  With a mortgage payment that you can comfortably afford now, you will never again have to face the dreaded rent increase.

As you can see, there are many financial reasons to buy a home. But what about the logistics of your housing?  When you purchase a home, at least in most cases, you will have a lot more available space than you would in a rental.  Sure, there are private homes available for rent but most people opt to rent apartments. A purchase home definitely has more space than do most apartment rentals.

And speaking of space3; if you own your own home, then the space is yours to configure as you like.  If you decide that you would like a larger kitchen, for example, you are free to make your own renovation plans.  You can express your individual style and taste through the way that you choose to decorate and there are virtually no limits to the changes you can choose to make on your property.  Not so with a rental property.  Even houses that are rented usually need some type of reconfiguration to meet your particular needs, but when you are renting, you need to find ways to work around this, since you do not have the freedom to modify the property in the ways that you could if you owned the home.

When you rent, you are not able to install a swimming pool, hot tub or in some cases even a play set for your children.  Therefore, when living space and the freedom to personalize are important to you, buying your own home is a very good option.

Additional Advantages

Home Equity
Equity, when considered strategically, is practically an immediate return on your investment when it comes to buying a home.  As a home owner, your home´s equity begins to grow immediately, from the very first day that you are the owner.  In the future, as the value of your home increases and the amount of your mortgage decreases, you will be able to borrow against the accumulated equity for expenses like home improvements, weddings or your children´s education.  Or, you can use the equity to secure a future mortgage on a second home. The more equity in your home, the better the chance that you will earn a profit when you sell your home and decide to purchase a more expensive home.

Principal
Every single mortgage payment that you make will actually increase the amount of equity in your home while reducing the principal of your mortgage.

Credit Score
Home owners generally have higher credit scores than do non-owners.  Remember that a mortgage loan in good standing on your credit report shows responsible borrowing. In contrast, renting does not appear on your credit report at all.

Community
When you purchase a home, you are joining a neighborhood.  Most owners quickly realize the value of becoming part of a community and forming relationships with those who live around them.  In some cases, renting can provide this same benefit, but renters are often transient and the relationships formed while renting may or may not last.

Security: Home ownership provides the security of knowing that no one else has access to your home unless you specifically grant them access. It also gives you the security of knowing that you have a wonderful place to call home, and that no one can take it away from you.

Privacy
Owning a home will give you far more privacy than renting.  In addition, you will have more access to the private outdoor areas around your home.

In Conclusion
All of these advantages can and will be yours when you decide that it is time for you to purchase a home of your own.

But there is one more advantage that hasn´t been mentioned yet.  When you own your own home, you are realizing a large part of the American Dream.  Many people dream of owning their own home and are simply not at a stage in their lives where ownership is an option.  Fortunately, you can make the dream a reality by purchasing a home of your own.

Take some time to carefully consider the advantages of home ownership that are listed above, and also consider any possible detractors that you might encounter along the way.  Making an educated and well thought-out decision will make you a better buyer and a better home owner in the long run.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

Any homeowner knows that that the beginning of each new year represents a new tax season, and with each tax season come new opportunities to use your home as an excellent way to save money through valuable deductions.

Federal tax laws have made it advantageous to own a home. Federal tax credits have been issued to do two specific things: to offset the cost of owning a home and to motivate new buyers to keep the housing market hopping.

Just like other federal laws that benefit the populace, tax laws are never guaranteed for more than a few years.  Therefore, a wise home owner will take advantage of all the available tax benefits while they are still viable options.

This article presents a brief introduction to the most popular and lucrative tax benefits for homeowners.  This information should not be considered tax advice, and it is always a good idea to check with your federal taxing agency or even a tax professional to find out which options are applicable to your individual tax situation.

Deduct the Interest Paid on Mortgage Loans
This is perhaps the absolute best tax deduction that any homeowner could hope for.  Taking full advantage of this deduction can save you potentially thousands of dollars, depending on the principal and structure of your mortgage. Generally, as long as your mortgage is for less than one million dollars, you can deduct the interest.

During the first few years that you own your home, you will learn that most of your payment amount is used to pay down the interest rather than the principal.  Therefore, this tax break was designed to be most beneficial to new buyers.  Of course, as mentioned above, it really just depends on the type of loan you selected when you purchased your home.

Homebuyers who have opted for a balloon or interest-only mortgage may discover that this deduction makes owning a home much less expensive.
When you deduct the interest that you have paid, your taxable income is lowered, reducing the amount of tax that you owe. The mortgage interest deduction and any other deduction resulting from a home equity loan (see below) can be shared among filers who do not file jointly.
If you have borrowed a home-equity loan, it is important to realize that the interest is deductible. However, such deductions are almost always limited to loans of no more than $100,000, just as deductions are limited to standard mortgages of no more than one million dollars.  The amount that is deductible may actually be the fair market value of your home, rather than the $100,000. If you are considering deducting the interest paid on a mortgage or home-equity loan, consult with a tax professional for advice.

Deduct the Interest Paid on Home-Improvement Loans
The calculation of the deduction that corresponds to interest paid on a home-improvement loan differs from that of the other interest deductions described above.  The calculation is fairly complicated, but if you are using the loan proceeds to make improvements that will increase the home´s value, extend the life of the home, or adapt the home to meet changing needs (such as adaptations for the elderly or disabled), then you can probably deduct ALL of the interest paid on the loan.

Sometimes home-improvement loans are used to fund smaller projects, such as painting and minor updating.  In these cases, you can usually deduct some of the interest paid on the loan.  However, the largest tax benefits from repairs result when you sell your home.

Deduct The Points You Pay at Closing
A point represents one percent of the amount of the mortgage that you are borrowing.  In most cases, you pay points to the lender at the time of the closing.  Points are fully deductible, as is interest, during the year in which you purchase a home.

Points are deductible when you opt to refinance, too. The difference is that in order for points on refinancing loans to be deductible, they must be amortized over the life of the loan.  If you find it advantageous to refinance again in the future, you can immediately deduct the remaining points from the original refinance loan when the new points have been amortized over the life of the new loan.

Deduct Your Real-Estate or Property Taxes
When you pay real-estate and/or property taxes, you may deduct the amount from your federal taxes.  There is a caveat, however. If you receive any refund of your local or state property taxes, it will reduce the amount of your federal deduction eligibility by the same amount.  Find a tax professional to help you understand your eligibility for this tax deduction.

When You Sell, Take Advantage of the Capital Gains Exclusion
The Taxpayer Relief Act of 1997 gives real-estate investors the ability to retain the profit earned when their home sells.  The restriction is that the home owner must have lived in the property during two of the last five years that the property was owned. When taking advantage of this tax break, homeowners may retain up to $500,000 ? tax-free ? from the profit on the home sale. There is no restriction on how many times homeowners may use this tax benefit, so long as they qualify and meet the residency requirement.

Deduct Your Home Office
Many taxpayers do not realize that when some portion of the home is used exclusively as a home office for a business, a percentage of the costs associated with the home may be deducted.  A specific percentage of utility bills, painting fees, insurance premiums, and depreciation may be deducted by homeowners who use space in their home as an office.

This deduction is restricted if your home is partially owned by your business, and if any capital gains would be divided between you and your business. Again, work with a tax professional to understand the details.

Sellers´ Expenses Reduce Capital-Gains-Tax Liabilities
When you sell a home, you incur selling costs.  These costs include, but are not limited to, advertising, title insurance, inspections, painting, decorating, landscaping, legal fees and agent commissions.  As long as repair, painting and upgrade costs were incurred within 90 days of your home´s sale, they are deductible.

This deduction will reduce your amount of capital gain for tax purposes.  The way that this deduction is calculated will depend primarily on your home´s value.  Ask your realtor or a tax advisor for additional information about deducting sellers´ expenses.

Deduct Moving Costs When You are Relocating for Work
When you must move for your job, you can almost always deduct the moving costs that you incur.  You must meet certain criteria, including moving within one year of relocation to a new location at least 50 miles from your current home and working full-time at the new location for at least 39 weeks during the year following your move.  These deductible expenses can include travel costs, storage costs, hotel costs and mover costs.

Smart consumers make financial decisions by weighing the advantages and disadvantages of every possible option. Buying a home is no exception. Whether you already own your home, or are considering the purchase of a new home, you need to become familiar with the many tax deductions offered to homeowners. Your realtor is an excellent source of general information about local taxation, taxing authorities and possible tax deductions.  Begin your research by requesting general information from your realtor and then contact a tax professional or financial planner to learn about the best tax deductions for your particular situation.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

Moving to a new home is an exciting event.  Whether you plan to move down the street or five states away, the moving process does not change very much.  Keep in mind, though, that even when the move is to a better place, the process of moving can be very tiring and stressful for you and your family.

Realtors have many years of experience working with people like you and have gathered information about the moving process during that time. The information they can provide will be helpful to you whether you are selling and moving or buying a home for the first time. Naturally, there will be differences in the process for everyone, because no two situations are identical. But by following these practical tips, you will make your move ? and your life ? easier during this exciting time.

Keep a Calendar!
Once you have decided to move from your current home, even if that move seems to be in the distant future, you need to begin planning each step as soon as possible.  Advanced planning, when possible, will make the process smoother for everyone involved and it will also help you remember all the little details.

An organizer-type calendar with a folio cover will help you keep everything together. You can put important papers and notices in the folder to stay organized.  Organization is the key to success in almost everything, and planning a move is no exception.

If you know when you are moving, the first thing to write in your calendar is the date of the move. Work backwards from there to note critical tasks along the way.  As you think of things that you need to do, make a note of them in the calendar.

Schedule some personal time, too. It is important to make sure that you are spending time doing the things you love to do, as well as the things you have to do for your move.

Keep an Updated Phone List!
To ensure that you are ready to disconnect and connect your utilities when the time comes, and that you don´t forget anything of importance, keep a list of important telephone numbers inside your calendar folder.  Depending on where you are moving and how far it is from your current home, you may need to arrange for new doctors, dentists, and other professional services as well.

Try to establish a relationship with your new doctor as early as possible to ease the transition process. Also, if you are changing doctors or dentists, request that your medical records be transferred ahead of time.

Make a Complete Inventory!
Keeping an inventory of your assets is a good way to avoid forgetting anything when you move.  Well before moving day, begin to keep an inventory in a notebook.  Begin with your largest pieces of furniture and work your way down to smaller possessions.

Having a complete inventory will make the process of sorting and packing easier, too.  It will help you make an accurate estimate of the number and sizes of boxes required and decide whether you need to rent a storage unit. Also, if you are moving far away from your current home, you be estimate how large a moving truck you will need.

Determine Whether You Will Hire Movers or Do It Yourself!
Sometimes, home buyers know in advance whether they plan to use professional movers or complete the move themselves with the assistance of friends and family.  However, because every situation is different, sometimes this is a difficult decision.  In general, if you have a lot of heavy furniture and not enough help to move it on your own, hiring professional movers is an excellent idea.

On the other hand, if you are preparing to move into your first home and expect to purchase most of your furniture afterwards, then hiring professional help may not be worth the expense.

Most of the time, it is a good idea to hire movers for long-distance moves. First, consider the cost of renting multiple trucks and the fuel associated with hauling.  When you hire professionals, you are almost always sharing that cost with someone else for an interstate move.  This may be the case for short-distance moves, too. It really depends on the moving company and what you will be moving.

Clean Out the Clutter!
When you prepare for your move in advance, you have time to get ride of the clutter that you have accumulated.  The garage may be a good place to start, so that when you begin the process of packing you will have a place in which to store the boxes.

If you plan to sell your home while preparing to move, it is a good idea to eliminate clutter anyhow, since clutter-free homes are more attractive to potential buyers.  Consider holding a garage sale or making charitable donations.  You could also offer to give your items to friends and family members who could put them to good use.

Regardless of how you choose to eliminate clutter, it is a highly involved and time-consuming process.  Therefore, if you need to move soon, without much advance notice, know that it may be necessary to wait until you have reached your new destination to sort through your belongings and decide what to keep and what to eliminate.

Hire Help Throughout the Moving Process!
For families with young children, babysitting is the most valuable service that can be procured while preparing for a move.  Hire a local teenager, a relative, or even a daycare center.  This will give you the time and freedom necessary to successfully prepare for your upcoming move.

Again, the process can be more complicated when you are preparing for a move and selling your home simultaneously.  You may need to hire landscapers, painters and even haulers to help with some of the more difficult chores.

Hopefully, these tips on successfully preparing for a move will make the process less stressful for you and everyone else involved.  The value of a folio-style calendar cannot be stressed enough.  If you purchase one that is large enough to hold all your important documents in one place, you will never need to spend your valuable time searching for the information you need.

Allow yourself as much time as possible before the move, to prepare and pack.  And remember to take good care of yourself throughout the process. Getting enough sleep and eating healthy meals is critical.  Too many people rely on fast-food meals during the moving process, but a steady take-out diet is a recipe for disaster. Make wise choices and schedule time to eat nutritious meals.

Also, make sure that you are getting enough exercise.  Even a short daily walk will keep you refreshed and healthy, so schedule enough time every day for at least a short walk outside.  Sometimes, breaking up the tedium of moving preparations is the best gift that you can give to yourself.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

Congratulations on your decision to join the ranks of millions of home owners! Spring is the perfect season to buy a home, and it is the time of year when many others have decided to buy as well.  While that may seem like it would crowd the market with eager buyers, what it actually means is that those other buyers will need to first sell their current homes before they can consider buying a new one.

In my years of experience as a realtor, I can tell you that spring is a fantastic time to start shopping for your new home.  You will be able to visit and explore many homes for sale. These are homes whose owners have spent all winter preparing for your arrival.

Because lenders often offer their most competitive and attractive interest rates, and introduce new mortgage loan program, during the spring, buyers are more likely to save money when they opt to purchase during this time of year.

Here is some advice about how to structure your search for a new home. I hope you will find it to be very helpful.

Get a Loan Commitment, but Keep the Numbers to Yourself
Buyers who already have a loan commitment in their hands before beginning their home search are able to reduce the number of homes considered for purchase. Having a loan commitment also makes negotiating with the seller much less intense.

In order to obtain a loan commitment from a mortgage lender, you will first need to determine the amount of money that you can afford to pay toward your home loan each month.  Keep in mind other expenses, such as recurring debt payments, as well as possible changes in your financial or family situation over the life of the mortgage.

Once you know what you can truly afford to pay, research mortgage lenders and their specific lending programs.  As a realtor, I know that one of the most time-consuming and frustrating processes that new home buyers face is the process of selecting a mortgage product that works for their specific needs.  Explore the options, negotiate with the lender for a lower interest rate, and consider the amount you have on-hand for up-front costs and a down payment.

Once you have identified the best possible mortgage program for your lifestyle, complete the lender´s pre-approval application process, which will include providing paperwork and information regarding your financial situation and employment status and history.  The lender will investigate your credit history and may verify your employment.  If everything is in order, the lender may issue you a pre-approval decision.

At this point, you need to go one step further.  Request a written loan commitment stating that the lender agrees to give you a mortgage loan of a specific amount. This statement will also contain the maximum amount that you are approved to borrow.  Keep this number to yourself!

Make a Wish List for Your New Home
Before you begin looking at homes, it is a good idea to list everything that you want in a home.  List everything that you can think of, because this is your wish list.  Realize, of course, that the list is not set in stone and that you will probably never find a home that offers every detailed item on the list.

Next, go through your list and prioritize each item.  Mark those items that you absolutely must have with a number 1.  Mark those items that you do not require, but would prefer, with a 2.  Mark everything else with a 3, 4 or 5 depending on the importance of the item.

Take a break for a few days and then revisit your list to ensure that it accurately reflects what you´re looking for in a new home.

Once you have completed your prioritized wish list, share it with your realtor and start looking for the home of your dreams!

Look Online
After you have met with your realtor and shared your list of must-haves, the realtor will look through his or her listings and those of other realtors to identify homes that meet your requirements.

While the realtor is doing this, you can use the Internet to search on your own.  Many online realtor sites allow potential buyers to search for homes against a specific list of criteria, and most of these sites provide photographs of the listed homes.

Make a list of any homes that capture your interest, including their address (if available) or the general location.  Most homes listed on realtors´ websites have an MLS (multiple listing service) number, which allows the realtor to find out more detailed information about the home, including the address if you were unable to find that information.

Finally, contact the realtor to arrange showings of the homes that you are most interested in.

Take a Drive
The Internet is a great tool for researching potential homes and neighborhoods, but if you plan to relocate to an unfamiliar area, take some time to explore the location.  If possible, visit the neighborhood at several different times of day.  Driving through a neighborhood in the evening might enable you to talk to other residents. Driving through the neighborhood late at night might give you some insight into the level of noise, activity and possibly even crime that you might experience while living there.

Communicate with Your Realtor
Your realtor´s top priority should be to help you find the right home for your needs. A good realtor will use years of experience and various types of expertise to work with you to find the perfect match.  If you change your mind about what type of neighborhood or home you´re interested in, simply let your realtor know, so that he or she can adjust the search on your behalf.

When you and your realtor work together as a team, you will successfully find the home of your dreams!
Be Prepared for a Fast Closing
When negotiations have stalled, one of the things that can jump-start the sales transaction is for the potential buyer to offer the seller a 30-day closing.

Remember that many spring buyers are also sellers.  Therefore, some sellers must wait for their current home to sell before they are able to close on their own new home.  By carefully navigating this situation and applying strong negotiation skills, you may be able to move into your new home within a month from the date you make an offer.

Buying a new home is a very exciting process, and buying in the spring definitely carries many advantages for buyers.

A good realtor will be willing and available to help you with each and every step of the home-buying process.  From investigating mortgage programs and developing your wish list, to negotiating with sellers, let your realtor´s expertise and experience work for you.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

Many first-time buyers are unfamiliar with the process when they start looking for a home. Realtors know that the best clients are those who have done their research before starting the process of shopping for a home, because it makes the process much smoother and there are generally very few surprises.  Nothing is more critical for a buyer than being prepared for just about anything.

This holds true whether you are planning to by a small one-bedroom home or a pricey gated home in a beachfront community.  Knowing how the buying process works is definitely advantageous to you as a buyer.

Here are three important questions to ask yourself before deciding to buy a home:

FIRST:  Are You Financially Prepared?
Lenders make it simple for today´s home buyers to determine in advance just how much home they can afford to purchase comfortably.  The first step in making this determination is to use a pre-qualification service through a major lender in order to estimate how much you can afford in light of your current income and large monthly payments.  This process may be as simple as a calculation that tells you what amount you can finance based upon a monthly payment equal to 28% of your net monthly income, or it may factor in your car payments, student loan payments or other mortgage loan payments.  The calculation depends on the lender, but generally the pre-qualification process does not involve anyone reviewing your credit report or other details about your specific situation.

Note that pre-qualification is not a promise to lend.  For that, you will need to select a lender and request pre-approval of a maximum loan amount.  Most lenders use the pre-approval process to determine the borrower´s creditworthiness and decide whether to extend financing and, if so, in what amount.  Once a buyer is pre-approved for financing, he or she receives a pre-approval letter from the lender that states the maximum amount that can be borrowed and the conditions of the loan.

However, pre-approval is not the only thing you need to worry about.  As anyone who has ever purchased a home will tell you, you will need to have about five percent of the home´s purchase price in hand on the day of closing.  This money can and will be used to cover closing costs, such as attorney fees, property taxes, title insurance, documentation fees, and more.  The total closing costs will vary depending on the home´s location and your lender.  If you have made an agreement with the seller in advance, he or she may pay your closing costs for you.

The down payment is one more thing that you need to consider in terms of finances. Traditionally, buyers were expected to make a down payment of about 20% of the home´s purchase price in order to secure equity and demonstrate security to the lender. Fortunately, today´s buyers have access to many programs that provide down-payment assistance and even zero-down mortgages.  Therefore, if you feel that you are unable to put 20% down, research such programs before determining which loan program you will use to purchase your home.

Canadian lenders are more rigid about down-payment requirements, because they are subject to laws that govern the maximum borrowing percentage.  Therefore, Canadian buyers should plan to make a 25% down payment on the closing date.

Making a down payment is more than just handing the lender a check for 20% of the home´s selling price.  As part of the mortgage approval process, you will need to clearly document where

the money came from and how you came to have it.  A gift is allowable for down payments, but only if it is from a close relative or another person with whom you can prove having a very close relationship.  You can use funds from your checking and savings accounts as long as they have been there for several months prior to lender verification. You can also liquidate assets such as homes, vehicles and investments in order to generate the necessary down-payment cash.  Some employer-sponsored retirement accounts will permit you to borrow or cash out funds for the down payment on a home.  In generally, it is not acceptable to borrow funds in order to make a down payment.

SECOND: What Do You Want?
This open-ended question is a prompt to get potential buyers thinking about the list of must-haves for their home-buying process.  Realtors, friends and family alike will probably prompt you to make lists and to constantly revise them in the hopes that before too long you will determine what you can and cannot live without, as well as what you do not want to have in your next home.

A good example is the kitchen.  Do you frequently entertain, or do you have a large family?  If you answered yes, then a modern, well-equipped and large kitchen will probably be on your list of must-haves.  But you may be willing to update a less-than-perfect kitchen as long as the size is right.  Therefore, the size of the kitchen is what will be on your list.  As you make your list, scrutinize every entry and try to be as specific as possible.

THIRD: Where Are You Looking?
Many potential buyers begin searching for their new home on the internet.  Many realtors now include home listings on their website, and there are also sites that include all of the homes listed on the multiple listing service (MLS).  Look online, but only to narrow down the specific type and style of home for which you are looking.

Once you have a good idea of the type of home that you want to purchase, contact your realtor to see what information he or she has about the homes in which you are interested.  Your realtor may have already shown some of the homes and therefore be able to provide you with information that will be useful in determining whether or not a specific home will work for you.

Drive past the homes that you are considering and make a list of those that interest you.  Then make an appointment with your realtor to see as many of those homes as possible, so that you can get a true sense of how the homes compare to one another and how they stack up against your list of must-haves.

Conclusion
By asking yourself the three simple questions above, you are well on your way to a successful home-buying experience.  Remember that your realtor is your best ally in the home-buying process, and never hesitate to ask questions or request assistance in understanding the process.  Every homeowner was once a first-time buyer. You, too, will get through the process of buying a home unscathed.  Learn as much as possible about the local market, know what you are looking for, and know exactly how much you want to spend.  Once you have made those major decisions, you can relax and have a great time looking for the home of your dreams.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

As you consider buying your first home, you undoubtedly have hundreds of questions about the process. These questions begin as soon as you start thinking about moving and continue far beyond the closing. What should I expect? How can I prepare? Am I ready to own a home?  These questions are perfectly normal and are to be expected from first-time buyers.

In order to make the home-buying process as easy and smooth as possible, you need to know exactly what to expect .  By reviewing the following information, you will be well prepared to begin the process of buying your first home.

How Much Can You Afford?
The first step in buying a home for the first time is making sure that you can afford the home you plan to purchase. Even if you haven´t already found the home of your dreams, you probably have a fairly good idea of the type of home you would like to purchase.  However, you may or may not realize how much you can actually afford to spend on housing each month.  Surprisingly, speaking to a lender about your financial situation may not be the best place to start.

Lenders look at your debt-to-income ratio and not necessarily at your day-to-day spending habits.  Therefore, they will know if you have several credit cards that are responsibly maintained and a car loan that was paid off in full last month.  But they may not realize that you opt to spend several hundred dollars each month on the latest fashions or videos.  Begin tracking where and how your money is being spent and how much of that spending can or will be curtailed when you purchase a home.

Financial Counseling and Pre-Qualification
A financial advisor can help you to assess your financial information and determine how much home you can afford to purchase.  Speak with a financial advisor before beginning the search for your first home ? and know that there is one other thing you can do to ensure that you are looking at the right homes for your price range.

Most mortgage lenders are happy to complete a pre-qualification process for potential buyers who need to find out ahead of time what size of mortgage they can qualify for.  The pre-qualification process is not a guarantee that the lender will offer you funding, but it does takes into consideration your credit score and income level in order to determine how much the lender might be willing to offer through a mortgage program.  The process will also enable you to begin comparing the mortgage programs offered by different lenders.

Shopping for Lenders
With interest rates declining, you need to make sure that lenders are giving you the most competitive mortgage options and interest rates.  Talking to several lenders will help you decide which one can best serve your interests.

Ask the lender about the details of each program that you are considering, including the closing-cost requirements, down-payment percentage, and any early-payoff costs that your might face. Mention that you are a first-time buyer, because this could potentially make a difference in the types of programs that a lender offers to you.

Once you have selected a lender, make sure that the specific mortgage program you are considering is right for your borrowing needs. I can help you find a mortgage professional if you like, I have a list of individuals that I can recommend to you  that reside in Charlotte/surrounding areas.

Here are two of the most common types of mortgage programs:

Traditional 15- or 30-Year Fixed-Rate Mortgage
This type of mortgage loan usually has a 15- or 30-year payoff (amortization) schedule.  Over the years, you make equal payments that are applied to the interest and principal in varying proportions until you completely pay off the loan.  The interest rate does not change.

15- or 30-year Adjustable-Rate Mortgage (ARM)
The ARM is declining in popularity as a result of better fixed-interest rates with traditional mortgage programs.  However, sometimes a new homebuyer will want or need to purchase a home that is more expensive than what he or she can afford at the time of the purchase.  ARMs, which come with low introductory interest rates that are almost always locked-in for the first five years, can be a good option.  After the introductory period, the interest rate becomes variable and may drop or skyrocket, changing throughout the life of the loan according to a pre-defined time schedule and market interest rates.

Finding an Agent
First-time buyers often call the listing agent for homes that interest them, but this may not be the best way to protect your interests throughout the purchase process.  When a potential buyer works with a listing agent to purchase a home that is listed by that particular agent, the result is double agency. Double agency simply means that the buyer and seller have the same agent, who represents both parties and therefore cannot release information that could harm either party.

To find an agent, consider the area in which you want to buy. A local agent will be familiar with the area and can recommend specific neighborhoods for people with your particular lifestyle.  You can also request recommendations from friends and family members.

Before signing a contract with an agent, ask about the commission rate, although this cost is generally covered by the seller´s portion of the closing expenses.

Make sure that your agent understands what you are looking for and how much you are prepared to spend on your home.  As a first-time buyer, you need to work with an agent who is familiar with programs and lenders who specialize in working with first-time buyers. Please let me be that agent. I can be reached on my cell phone at (704)840-4137. My name is Rod Potter, I can help you find a home.

First-Time Homebuyer Programs
Many programs are designed specifically to assist first-time homebuyers with benefits like down-payment assistance and no closing costs.  Others offer first-time buyers competitive interest rates designed to make borrowing easier.  First-time homebuyer assistance programs almost always apply to anyone who has not purchased a home within the past three years.  Therefore, even if you are not a true first-time buyer but you have not bought a home in the past three years, you may qualify for these programs.

Conclusion
First-time homebuyers who approach the home-buying process with adequate preparation can be some of the best customers for lenders and agents.  If you are thinking of buying a home for the first time, do your research and plan for your home purchase.  Doing so will make you an educated consumer and give you a good chance of finding the best home for the best price.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137