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Amber Castonguay Jefferson County Wisconsin Real Estate: Real Estate Agent in Johnson Creek, WI

EASING YOUR WAY INTO HOMEOWNERSHIP: HOW YOUR REAL ESTATE AGENT CAN HELP YOU QUALIFY FOR A LOW DOWN PAYMENT MORTGAGE

For many renters, the first step in buying a home is becoming educated about the process. If you're like many people considering a home purchase, you've spent nights and weekends poring over your local real estate section. You've talked to friends and relatives about their experiences. Maybe you've even purchased a book or two to help you become more familiar with real estate terminology and the various types of mortgages commonly used today.

Coming up with a down payment and finding a loan that meets your needs are the greatest hurdles faced by first-time homebuyers. So, you may even have leafed through stacks of brochures and flyers from lenders offering down payments that are far less than the 20 percent you'd always thought you'd need to save before you could buy. With so many excellent first-time buyer programs to choose from these days, you practically need to be an expert to sort through them all.

That's why if you're a first-time homebuyer seeking a low down payment loan, you'll save time by selecting a professional real estate agent who is experienced in working with people just like you in the area where you plan to buy. An agent who frequently assists first-time buyers will know from experience which lenders in your area offer a low down payment program that will most closely match your needs.

A professional real estate agent can help you determine whether you are likely to qualify for these special programs, since participation in some may be limited to buyers under a certain income level or for the purchase of homes below a certain purchase price. Your agent also will be able to tell you whether there are other requirements you must fulfill in order to be considered. With some programs, for example, you must attend an educational seminar before you can be considered for one of these low down payment loans.

`It's important that your agent become familiar with your current financial situation. Before you meet with your agent to discuss your financial situation and housing needs, you'll want to collect some basic information to make the process easier. Be prepared to show recent paycheck stubs or pay vouchers to certify sources of income; a complete list of current credit card, auto and other consumer credit payments you make each month; and recent bank and savings statements. These documents will help you and your agent determine how much home you can afford. It's also important that you disclose any prior credit problems or late payments. Your agent may be able to suggest ways to remedy any negative remarks on your credit report that could disqualify you from a low down payment loan program.

In addition, because most lenders will require that you have several months of house payments in the bank as a reserve, your agent may be able to suggest ways you can increase your savings in the weeks and months leading up to your home purchase. Don't forget that some programs allow you to apply a cash gift from a family member to cover the required down payment and losing costs.

Your agent also may know a motivated seller who would be happy to assist you in accomplishing your home purchase by caring a second mortgage. A second mortgage is helpful because it reduces the amount of the first mortgage you need to obtain. In some cases, a second monthly payment and generally is required to protect the lender when a down payment is less than the standard 20 percent of the loan amount. Even if your seller isn't willing to take a second mortgage to complete the sale, he or she may be willing to pay your closing costs, which will reduce the amount of cash you need to have on hand up-front.

With interest rates edging up, innovative mortgage financing programs that require a low down payment are even more important than ever to first-time buyers. A professional real estate agent can help you sift through the countless programs that are available and help find the one that's mortgage can eliminate the need for private mortgage insurance, which is added to your right for you.

Contact Amber Castonguay for more information. 920.699.8124 amber@century21crossroads.com

Jefferson County WI Real Estate, November Newsletter, Real Estate information, Jefferson County WI Homes For Sale, Jefferson County WI Home Buyer

Amber Castonguay, Jefferson County Wisconsin Real Estate, Buy Real Estate: Real Estate Media in Watertown, WI
Jefferson County Wisconsin Real Estate November - 2008
Understanding the Comparative Market Analysis
Be a Better Borrower
FREE Phone Market Analysis
Amber Castonguay

I am pleased to present you with the latest issue of Life@Home. Delivered to home buyers, sellers and owners on a monthly basis, this electronic newsletter is designed to give you the real estate information that is important to you. In each issue, you will find practical tips and articles related to buying, selling or owning a home, as well as the latest news on real estate trends. I hope that you enjoy this issue of Life@Home. If I can be of any assistance, please do not hesitate to contact me.

Visit Century21.com and view more than 250,000 property listings! Visit my website at www.AmbersHomeFinder.com to view all properties.
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Understanding the Comparative Market Analysis
As the old saying goes, "Knowledge is power." This adage can certainly be applied to the real estate transaction. The more you know, from the ins and outs of the process to the market conditions, the better your chance of selling and getting the most from your investment.

The Competitive Market Analysis or CMA is a report that will help you learn more about your marketplace. Many real estate professionals offer this free service or as part of their service package. A CMA offers you a snapshot of the real estate conditions in your area and can be a very useful tool when setting your own asking price.

Here are some of the elements contained in most reports:

1. Homes for sale. This is an inventory of the current active listings in the Multiple Listing Service (MLS). It will give you an idea of how many other homes will be competing for buyer attention. Consider the asking prices for homes similar to yours, but remember the asking price is just that. It does not reflect what buyers are willing to pay.

2. Pending sales. These are active listings that are now under contract. Additional data on the sale will likely not be available until after the closing.

3. Comparable sales. This is perhaps the most revealing and interesting component. It details all the sold listings in the last six months and their sale prices. Look carefully at the numbers. Here you can discover how much buyers are willing to pay. This data can help you and your agent craft a realistic list price.

The final piece of the CMA puzzle is to make sure you look specifically at homes that are similar to yours. To make the most of this data, search for a home that is comparable to yours in location, size, age, amenities, etc. Use the expertise of your Realtor® to analyze the numbers and his or her market knowledge to adjust the numbers up or down accordingly.

All Locked Up
Be a Better Borrower
The stories of foreclosure and loss in today's mortgage crisis are painful. If you are in the market, here are five things you should do.

1. Begin with a good understanding of your finances. Examine your budget and income and determine how much you can pay as a down payment and afford each month (mortgage plus bills). Remember to factor in a cushion for unexpected costs such as unemployment.

2. Understand the lending process. Take time to learn about credit, mortgage terms, interest rates and points. Keep in mind that when you assume a mortgage you may be buying your dream home, but are also taking on a significant debt.

3. Get pre-approved. Once you have a handle on your finances and the lending process, get pre-approved for a mortgage. This gives you defined parameters for your home search and makes you a more appealing prospect to sellers.

4. Search out a reputable lender. Ask for recommendations from your real estate professional and from friends and family. Research the lenders you are considering before making a selection. Of course you should shop around for the best rates, but remember there are other important factors at play.

5. Listen to your heart and look ahead. If something seems too good to be true, it probably is. Also, take the time to analyze the fine print and make sure the mortgage terms are still manageable five, ten, and twenty years from now.

FREE Phone Market Analysis
Register here for your FREE Phone Comparative Market Analysis. Amber Castonguay can be reached via E-Mail Amber@Century21Crossroads.com or Direct: 920.699.8124!
CENTURY 21 Crossroads Realty
520 Hartwig Blvd. . Johnson Creek, WI 53038 . 920-699-8124
amber@century21crossroads.com . www.AmbersHomeFinder.com
Copyright © 2008. CENTURY 21 Real Estate LLC. To unsubscribe, click here.

Sell my home in Jefferson County WI, MLS, Find Real Estate in South Cental Wisconsin, Jefferson County Wisconsin Real Estate, Buy a home in Jefferson County WI, Sell Real Estate in Jefferson County WI

Amber Castonguay Jefferson County Wisconsin Real Estate: Real Estate Agent in Johnson Creek, WI

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www.AmbersHomeFinder.com
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Amber Castonguay Jefferson County Wisconsin Real Estate: Real Estate Agent in Johnson Creek, WI

Jefferson County WI CENTURY 21 Newsletter September - 2008
Ready, Set, Buy
Do Tell
School's In
Amber Castonguay

I am pleased to present you with the latest issue of Life@Home. Delivered to home buyers, sellers and owners on a monthly basis, this electronic newsletter is designed to give you the real estate information that is important to you. In each issue, you will find practical tips and articles related to buying, selling or owning a home, as well as the latest news on real estate trends. I hope that you enjoy this issue of Life@Home. If I can be of any assistance, please do not hesitate to contact me.

Visit Century21.com and view more than 250,000 property listings! Visit my website at www.AmbersHomeFinder.com to view all properties.
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Ready, Set, Buy

If you are a first-time home buyer, the news for you in most parts of the country is good. Mortgage rates are relatively low and higher inventory and lower asking prices mean market conditions are in your favor. If your finances are in order, now is the time to start that home search.

Begin with some good, old-fashioned preparation. Carefully review your budget. Determine how much you will have to offer as a down payment and how much you can afford to pay monthly. Remember to calculate not just your mortgage payment, but all your costs including taxes, utilities, food, entertainment, insurances, etc. Getting a good handle on your finances is critical to making the right real estate decision.

Next, think long and hard about what you want from this purchase. Is it a starter home that you want to stay in less than five years? Or maybe you want a home that can accommodate a growing family. Take some time to define your parameters like location, number of rooms, school system, and proximity to transportation.

Once you have outlined your budget and your wants and needs, you are ready to begin viewing listings online and in person. A real estate professional can be a huge asset during this process. He or she can prescreen homes and make sure they fit your budget and your needs. An agent can also provide insights on whether the asking price is fair and help identify a listing's strengths and weaknesses.

But even with this help, keeping track of all the pros and cons can be a challenge. Many first-time buyers keep a log or journal during their search. When you visit homes, ask if you can take pictures of the property. At the same time takes notes. Write down the things you love, like and dislike about each listing. In the end, a combination of thorough preparation, a good Realtor and organization can help make your first-time purchase a successful one.

All Locked Up
Do Tell

The majority of post sale disputes involve undisclosed property faults. In an effort to sidestep those lawsuits, most states require sellers to complete some sort of disclosure document as part of the real estate transaction. Sellers are required to reveal any material facts that could affect the price of the home or the buyerâ?Ts decision to purchase.

Hereâ?Ts an example. If you are selling a home that gets water in the basement during a heavy rain, you would be wise to disclose it before the sale. Otherwise the buyer may pursue compensation or seek legal recourse. It is helpful to think of the disclosure as a form of protection for both parties.

The question of what constitutes a material fact is subjective and varies from state to state. Consult with your real estate professional and an attorney about what characteristics should be listed with a tendency to err on the side of revealing, not concealing. Clearly structural defects, like a cracked support beam, should be named as well as environmental concerns such as radon or asbestos. Sellers must disclose the presence of lead as part of a federal requirement.

Sellers tend to be wary of disclosure believing it will adversely affect sale price. However, most buyers prefer to negotiate around a disclosed defect rather than be surprised at the home inspection when they can walk away from the deal altogether.

School's In
If you have a child starting college this fall, take time to set some ground rules. This venture has a better chance of success if you start on the same page. For instance, share what you expect your child to do, like attend all classes or email once a week. A good understanding can be the basis for a great year.


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CENTURY 21 Crossroads Realty
520 Hartwig Blvd. . Johnson Creek, WI 53038 . 920-699-8124
amber@century21crossroads.com . www.AmbersHomeFinder.com
Copyright © 2008. CENTURY 21 Real Estate LLC. To unsubscribe, click here.

January Newsletter, Jefferson County WI Real Estate Short Sales, Jefferson County Wi Home Infromation

Amber Castonguay Jefferson County Wisconsin Real Estate: Real Estate Agent in Johnson Creek, WI
The CENTURY 21 NewsletterJanuary - 2008
A Different Ending
On the Market
Best Foot Forward
Amber Castonguay

I am pleased to present you with the latest issue of Life@Home. Delivered to home buyers, sellers and owners on a monthly basis, this electronic newsletter is designed to give you the real estate information that is important to you. In each issue, you will find practical tips and articles related to buying, selling or owning a home, as well as the latest news on real estate trends. I hope that you enjoy this issue of Life@Home. If I can be of any assistance, please do not hesitate to contact me.

Visit Century21.com and view more than 250,000 property listings! Visit my website at www.AmbersHomeFinder.com to view all properties.
A Different Ending
Homeownership isn't always a happily ever after story. There are times when owners can no longer meet their mortgage obligations. In this case, there are several options.

One is foreclosure. In this scenario, buyers have a grace period where they can stay in the home and try to make good on their outstanding debts. Eventually, if they are unable to reverse their current course, the bank or lender will evict the owner, reclaim the home and place it on the market for sale. A second, lesser-known option is called a short sale. Here the lender agrees to take a loss on the home in exchange for recouping most of what is owed to them. In other words, if you owe $90,000 on your mortgage, your bank may agree to take $80,000 and consider the debt paid. The benefit for the lender is that the case is expedited and closed without the added expense of a foreclosure proceeding. Of course the seller would not see any profit from the sale. If you find yourself in such a position, research the short sale option further. Start by using online resources to learn about the agreement. If you think it is feasible for you, consult with your lender and a real estate attorney who is familiar with this arrangement Also, it is very important that you understand the tax implications in a short sale. While the lender may be willing to accept less than what it is due, the government will consider the debt forgiveness as income and a taxable gain. Speak with a certified public accountant that is well-versed in this area. When you closed on your home, you surely did not envision yourself in this situation. Unforeseen circumstances, such as a job loss, can put you in a position you never imagined. It is imperative that you look at all options, including bankruptcy, foreclosure and the short sale before you select the one that will work best for you.
On the Market
What makes one home sell in a few weeks while another may linger on the market for what seems like seasons? Well, each case is different, but it almost always boils down to one of these four factors. Price - A home that is priced right will attract buyer attention. A fair and reasonable asking price that is in keeping with market demands will pique consumer interest and ultimately make the property more appealing.
Condition - Unless they are searching for an investment property, most buyers are looking for a structurally sound home that has been well-maintained. In addition, a home that "shows well" is likely to sell quicker. This means the home is clean, well-kept, updated and appealing to today's buyer.

Location - The better the location, the more likely the property will demand buyer attention. This could mean a single-family home in a charming town with an exemplary school system. Or it could mean a wonderful apartment in a great section of the city.
Market - Whether it is a "buyer" or "seller's" also influences how long a property is up for sale. When the advantage is with the buyers, you may need to make allowances, such as a lower asking price or favorable terms to help your property attract a bid. Your seller agent is your greatest resource during your home sale. He or she can further explain how these factors will influence your particular listing.
Best Foot Forward
Whether you're on a job interview or a first date, you always want to make a good first impression. Try these four simple steps. 1. Make good eye contact. 2. Give a firm, but gentle handshake. 3. Smile a genuine grin. 4. Really listen to what the other person is saying and respond accordingly.
CENTURY 21 Crossroads Realty
520 Hartwig Blvd. . Johnson Creek, WI 53038 . 920-699-8124
amber@century21crossroads.com . http://www.century21newsletter.com/Reports/hitcounter.asp?mem_sid=23860&lang=0
Copyright © 2005. CENTURY 21 Real Estate LLC. To unsubscribe, click here.