Pineville, LA

Buying a home for the first time is a major life event. Here are "Ten Commandments" that can help you through the process.

1)I Am Your New Home, Put No Other Purchases Before Me-- Credit regulations are pretty strict these days. Buy nothing major on credit, or open new credit lines until the home closes.

2) Honor Thy Mother and Father, But Purchase The House YOU Want-- Family will offer advice in the hope of helping their children out. But odds are they don't buy and sell real estate every day. Find an agent that you trust, and pick the house that meets your needs.

3) Thou Shall Not Take The Seller's Name In Vain-- Buying a home can be stressful, and the negotiations intense. Agents are the buffer designed to keep things civil.

4) Remember The Sabbath Day and Keep It Holy-- Even the Lord rested one day a week. Spending every waking hour obsessing over a home purchase is not healthy or productive. Taking a step back will sometimes make the process more clear.

5) Thou Shall Not Kill The Deal Over Something Silly-- When major problems arise sometimes the smart thing is to pull the plug. Losing sleep over a 400 dollar dishwasher in 200k dollar home? Not so wise.

6) Thou Shall Not Bear False Witness To Your Lender-- Answer income/debt questions truthfully, they are going to verify everything anyway.

7) Thou Shall not Covet Thy Neighbor's ass-- No real lesson here, it's just fun to cuss in a blog post!

8) Thou Shall Not Steal That Foreclosure-- Most foreclosures are priced close to their market value even taking condition into account. Getting a nice home for pennies on the dollar? Not in the real world.

9) Thou Shall Not Commit House Adultery-- Once you are under contract their is no need to look at other homes. The grass will always appear greener in the other lawn. It rarely is.

10) Thou Shall Spread Thine Agent's Name to Others-- Agents live on referrals. Have a positive buying experience, tell a friend!

Would you like to work with the agent who wrote the buyer ten commandments? Call Doug Rogers with Bayou Properties Realty today (318) 613-1994.

The first step in the home buying process is speaking with a reputable lender. Once your financials are in order the lender will issue a pre-approval letter. This document will spell out up to what amount the buyer can purchase. The key element here is the phrase "up to".

Many first time buyers will want to START their search at this "up-to" amount. After all, if you are approved for "up-to" 150,000 dollars why look at a 145,000 dollar house? Let's examine why staying under your limit is a good idea...

1) Your car is older than two states-- The bank looks at your current debt/income ratio. If you do not currently have an auto loan this amount is not factored in. What happens in three months when you need a new car?

2) You take vacations like a rap star-- If any part of your vacation includes boarding a Lear jet, it might be a good idea not to be house poor. Once you have stayed at the Hilton, the Motel 6 just won't do.

3) There is a minivan in your future-- When the first kid arrived my wife was mad that the nice daycare was 150 dollars. I chuckled and told her not to be cheap, 150 dollars a month was not bad. Then she told me it was 150 a week. Kids make you broke and crazy. I have four...

4) The only tool you can operate is a clarinet-- Home repairs can cost serious money. And things have a habit of breaking at the worst possible time. Bet you regret not taking shop classes in high school now!

5) Your emergency fund would not buy breakfast for two at Denny's-- In this economy two income families sometime become one income families with little notice. Having a house note the size of the Goodyear blimp is not a wise thing to do.

Find a home that you are comfortable in. Both in a physical and financial sense! Need help finding such a property? Call Doug Rogers with Bayou Properties Realty today (318) 613-1994.

With the confidence that comes from writing a full price offer, the buyers assumed the house was "in the bag". After all, who would turn done a full price offer in this market? The rejection came as a greater shock than a Dallas Cowboy's Super Bowl victory. Let's examine some factors other than price that can cause an offer to be rejected.

1) A truckload of closing costs--Most sellers in the Pineville Louisiana real estate market expect to pay a portion of the buyer's closing cost. Paying points or giant origination fees will typically cause sellers to pause.

2) Requesting improvements over repairs-- During the inspection it is discovered that the 300 dollar dishwasher is about to give up its ghost. In its place should go a similar style/quality appliance. Demanding a silent, stainless steel model is a great way to kill a deal.

3) Requesting repairs for items that are not broke-- The plumber says the toilet is fine, Papa thinks it is leaking. Unless Papa is writing a check don't expect a new throne prior to closing.

4) A closing date measured in geologic time-- In the Pineville market sellers expect closing 30-45 days out. Your offer to close "before South America and Africa are one again" will probably be rejected.

5) Shell game financing--Sellers like to see mortgage commitment from stable financial institutions or cash offers. Letters contingent on a certain quarter horse winning the afternoon race (or even worse a lawsuit settlement) don't carry much weight.

Though important, price is only two lines on a 6 page purchase contract. The other terms can quickly make a "strong offer" pretty puny. Ready to purchase a home in Pineville, la? Call Doug Rogers with Bayou Properties Realty (318) 613-1994.

Nothing good has ever come from a committee. The Ford Pinto? Approved by a committee. American Idol has a committee. How many of the previous nine "Idol" winners can you name off hand? I can only name two without the Internet.

Committees cause ration individuals to make horrible group decisions. Home shopping is no different. Add too many heads and you will soon have a giant headache. Uncle Bob loves gas fireplaces, Aunt Pearl would NEVER live in a home with a gas fireplace. You then begin to wonder how they have been married for twenty five years!

One of the joys of home ownership is the ability to customize YOUR home. After years of living under a rental agreement, now is the time to make YOUR mark.

After working hard and living responsibly the pleasures of home ownership are within reach. Upon closing invite Uncle Bob and Aunt Pearl over to see your new place. Just don't let them linger near the fireplace!

Finding a buyer for your Pineville home is simply the first step. Most sellers understand the importance of buyer loan approval, home inspections, and title work. A "surprise" in one of these areas can bring the escrow process to a halt. Yet there is one more that sellers often overlook, the dreaded home appraisal!

Before a bank will sign off on a loan, the property must pass an independent home appraisal. This service is designed to protect the bank's interest, not the buyers. As such the house must meet be worth the asking price, AND meet certain condition requirements. Price is simple enough either the home is worth the asking figure or it is not. Condition can get a little tricky. Here are some items that can "red flag" a home appraisal.

1) Peeling Paint-- No, the home does not have to sport a fresh paint job, but the exterior should be free of peeling, or chipping paint.

2) Rotten Wood-- Water and wood are not friends. Look for rotten wood anywhere along the exterior that is exposed to the elements.

3) Missing or Inoperable systems-- Getting a rural development or FHA loan? If so, that home better not be missing the outside ac unit. With the high price of copper, missing or stripped AC units are common in vacant properties.

4) Cracks in the Brick-- Does your home have the "stair-step" crack lines along the exterior? Expect to pay a structural engineer to sign off on the stability of the home.

5) Any Cases of "Old Man" engineering-- I've seen garden water hose used as piping, a roof patched with a piece of tire, and many other things that are not up to code. No of which made it passed a professional appraiser.

The appraisal process is designed to insure that the home is more asset than liability. Frankly any of the above items are good things to address regardless if you home is for sale or not. The home is likely your biggest asset, take care of it!