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Carlos J. Gil

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Where to begin when buying a home

07-31-09
Carlos J. Gil

Beginning a home search can be a somewhat disconcerting task. Perhaps the biggest question many first time homebuyers have is where to begin the process. Some people begin by looking at real estate magazines or websites, while others call real estate agents right off the bat. The process varies.

So, what is the best way to begin your quest for a new home? In truth, any way you begin the process is a good way, because the most important thing is to get started. After all, you will learn a lot as you go. But there are some things to keep in mind:

Do the Proper Research

Buying real estate can be an overwhelming experience for the first-time buyer. But you can make the process much easier simply by understanding it. Start with the lingo. By learning the terminology associated with home buying and mortgage, you will make smarter decisions along the way.

Set Your Budget

The best way to begin looking for a home is to first sit down with a mortgage lender to determine how a high a mortgage you can afford and be approved for. Remember, there is a difference between the loan amount you can be approved for and the amount you can actually afford. So in the end, only you can determine your home buying budget — not a mortgage lender.

When dealing with a mortgage lender you will want to provide him or her with an understanding of what mortgage payment you are comfortable making so they can give you a sense of the size of the mortgage that equates to, based on your credit, income and other factors.

Taking this step first will help “frame” your home search so you are only looking at homes within your budget range. Many first time homebuyers fail to take this step and therefore waste time and energy looking at homes that are well above their budget.

You can find plenty of websites that offer mortgage calculators, and these tools are a good place to start when determining your budget. Just keep in mind that the one variable you can never predict in advance is the interest rate. Only by speaking to a lender can you get a full mortgage quote that includes the interest rate (based on your credit history).

Get Pre-Approved for a Mortgage

Another reason you may wish to start with speaking to a mortgage lender is so you can be prepared to show a pre-approval letter to the seller. This gives them the confidence that you can buy their home, which is especially important for homes where more than one buyer makes an offer (i.e. a seller’s market). Do not confuse pre-qualification with pre-approval. Pre-qual is an informal process in which the lender tells you how much of a mortgage you might qualify for. Pre-approval, on the other hand, is a more formal review of your finances and is likely to reflect the actual loan amount the lenders extends to you. In other words, the person selling the home will pay more attention to the pre-approval letter.

Though there is no wrong way to begin a search for a new home, meeting with a mortgage lender first may be the best way to begin your search and find your dream home. Just remember to always keep an open mind when visiting each property and envision the possibilities. You must also stay realistic about your finances and do your best not to over-extend yourself by purchasing a home beyond your means.

View exclusive inventory of homes at www.BoldRealEstateGroup.com

© 2009, Cornett Communications.

About the Author: Brandon Cornett is a consumer advocate and publisher of the Home Buying Institute. You can reach the author at www.CornettCommunications.com.
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It's Time To Buy in Port St Lucie. Be Bold, Buy Smart!

07-31-09
Carlos J. Gil

If you are looking for the best that Port St Lucie has to offer, then look no further than PGA Village Golf & Country Club. Located in the heart of Florida's Treasure Coast, about 130 miles south of Orlando, 50 miles North of Palm Beach International Airport and minutes from Hutchinson Island, Jensen Beach, shopping venues including retail outlets, specialty boutiques, restaurants, three nearby hospitals, schools, universities and much more! PGA Village features nine distinctive upscale neighborhoods situated for privacy with scenic panoramic water and golf course views. The community offers a mix of new and pre-owned one or two-story Single Family Homes, Townhouses, Villas and Condominiums.

Whether you are a first-time buyer, relocating or retiring, PGA Village offers a comfortable quality of life. Named by Golf Digest as one of the "75 Best Golf Resorts in North America", PGA Village provides 72 holes of championship golf, a 35 acre state-of-the-art learning center with full-time PGA professional staff, tennis, fitness and more.

The Legacy Golf & Tennis Club a non-equity private club offering 27 holes of fantastic golf for all skill levels. The home to a 7,023 yard championship course designed by George Fazio, as well as a 9 Hole Par 3 Course by Jim Fazio. The Tennis facility boasts six har-tru lighted courts, with a fully stocked shop for apparel or repair needs, as well as individual or group instruction. Sun yourself on a large pool deck and enjoy the Olympic-size heated swimming pool, which overlooks the driving range, practice course and tennis courts. This is a delightful way to spend your day at PGA Village. The clubhouse offers an abundance of social activities with a casually elegant dining experience, a popular place to meet with friends and neighbors of the community. PGA memberships range from affordable single and family to a premier golf membership for extremely active golfers.

The residential real estate market in PGA Village is currently "Red Hot" with affordable Golf Villa Condominiums starting at $99,900, Single Family Homes starting at $179,900. Townhomes & Villas starting at $129,900. The high-end market, at a range between $1.1 and $1.9 million. A new clubhouse includes a state-of-the-art fitness center, spa, swimming pools, card rooms and tennis. PGA Village is professionally manned with roving patrol officers 24-hours a day.

We encourage your visit and will be happy to assist you with information and availability of One and Two bedroom or guest suite Golf Villas located in PGA Village offering private garages, decks, and screened patios with FREE access to 6-holes Short Course. Heated swimming pool, picnic & barbecue areas. Fully equipped kitchens. Two onsite restaurants. Please contact us for current rates and reservations.

The time has come to enjoy the Florida lifestyle and see the paradise that lies behind the gates of PGA Village Golf & Country Club. Contact our office for exclusive inventory of all residential homes currently available for sale. Bold Real Estate Group will provide concierge services including set up of community tour and area information. Please contact us by email at communityinfo@comcast.net or (772) 905-8173.

All First-time home buyers who want to take advantage of the $8,000 federal tax credit needs to move fast! FHA will allow lenders and government agencies to use the $8,000 federal tax credit, providing the home buyer with downpayment cash upfront at closing, rather than waiting for the IRS to mail them a tax credit check. Buyer must close no later than November 30th, 2009 to be eligible.

Contact us for a complimentary tour of PGA Village and let us welcome you to your dream home!

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