Johnathan Smith

Hi there:

Hope everyone has a great and safe Labor Day Weekend.

The weather should be lovely so get outside and have some fun.

I'll be working hard like always, A Real Estate Agent is like a mailman. We dont get time off and we are always at a front door. LOL!!

Whats up for you?

Send me a comment or two back!

ONCE AGAIN, HAVE A GREAT WEEKEND! BE SAFE AND GET SOME NEW CLIENTS!!

Johnathan Smith

http://www.johnresales.com

Alot of agents like to pay someone to go around an area and do the door hangers, DONT DO IT!! I been doing the door hangers and 50% of the time I will meet some of the owners and get to know them.

DONT PAY SOMEONE, GET OUT A DO IT AND MEET THE OWNERS!!

Hire a Professional Real Estate Agent

Johnathan Smith
Staten Island
646-400-4364
http://www.johnresales.com

First Time Home Buyer? Don't Fall for These Common Mistakes

OK first time home buyer you are excited, aren't you? You can't wait to get into your first home and you start going forward with the home buying process. Buying a home is complicated and this fact can cause you to make a lot of mistakes. These mistakes can be costly, don't fall for them.

Don't Understand Financing

Most first time home buyers don't understand the importance of being preapproved on financing. Some people have credit issues which can be worked out in a matter of a few months that can greatly improve your chances of buying the home you desire. With these issues corrected you may even be able to get a lower interest rate which of course can mean lower payments and/or qualifying you for a nicer home.

It is also important to compare mortgages and even talk to several mortgage lenders. There are so many different mortgage programs available. Mortgages are not a "one fits all." Ask questions and lots of them! Compare "apples to apples" and learn and understand which mortgage program will be best for you.

Ask for an Estimate of Closing Cost from your lender. Real estate agents are able to give you most of the cost for closing and can even tweak up your Estimate of Closing Cost to make it more locally accurate. With the different loan programs your agent will need the estimate of the bank fees (your highest cost to close). You must understand how much your closing cost will be up front before looking for a home. When you place an offer on your new home you may even be able to have the seller pay some or all of these costs. Also, the amount of the closing cost will impact how much down payment you will be able to place on your home, if any.

It is imperative that first time home buyers understand how much house they can afford and how much your monthly payment will be including taxes, insurance and home owner associations. It is nothing more heartbreaking for you than to have your sights on a certain home and find out later that you will not be able to obtain a loan on that particular home.

You will find that most agents are reluctant to start assisting you in the search of your new home until you are at least preapproved for a loan. It is very disappointing to find out after we have shown you homes we will have to "bring you down" or "bring you up" in price. Bringing you up in price, in other words if you qualify for more home than you thought, is rather easy. We can make you happy. The problem surfaces when we have to "bring you down in price". Once you start looking at more expensive houses the lower priced homes just will never seem to fit.

And most important ask questions and lots of them. No question is "dumb". What would be "dumb" is not to ask and understand everything you can about your mortgage.

Running Wild

There is a behavior I refer to as running wild. First time home buyers will frequently rush off looking at every house they can on their own, surfing the web, calling on advertisements, visiting open houses and for sale by owners (FSBO) and the list goes on. This can cause you big problems - number one you have no representation and may do or say something that can greatly harm your chances of getting the best price and terms for yourself down the road. Slow down, find a real estate agent you like - one that deals with a lot of first time home buyers, and let your agent do the leg work for you. Your agent can show you all the houses on the market, even the FSBO homes, and once you are working with a real estate agent you are protected. In my area, the seller pays the commission so this service is free to you. Take advantage of it! Not only that, it's a lot less work for you.

Wants to see ALL the houses

I see this one over and over with my first time home buyers and I warn each and every one about this very common mistake. Your real estate agent, based on your criteria, will show you the "best" houses first. For some reason first time home buyers, even if they find a house they love, will want to keep viewing houses. I have had buyers tell me, "I want to make sure there is nothing better out there" or "I want the perfect house." Well, guess what will happen if you do this? By the time you view ALL the houses and decide, "Yes, that is the house I want (the first or second one you saw)!" that house may no longer be available! Gone, under contract, someone else got it! Please, please don't do this - there is no "perfect" house. You will make your house "perfect" by making it your home and adding your little touches. That is what makes home ownership fun!

Doesn't look at resale value

Resale value is an important fact for first time home buyers to consider. The average time an owner lives in a home is five years. Then guess what? You will want to resale that house! You want to be in a location or buy a home that has resale value, one that you will be able to cash in on equity gain years down the road. Some first time buyers say, "I'm going to live in this house forever" Well, forever is a long time and life changes, your family may grow, you may have a job change, or you may later just want a larger house. Listen to your real estate agent - if he/she has doubts on resale value - run don't walk away.

Doesn't get home inspection

Get that professional home inspection folks, no matter what. Many first time home buyers (all buyers really) will attempt to save money by not getting a professional home inspection. Sure it cost, but it is a very small amount of your total closing cost. The home inspector can find issues in the house that could cost you money, BIG money, down the road. Don't let this happen to you! I even advise people buying new construction homes to have a home inspection, I have seen mistakes in new construction houses that was done by a subcontractor that the contractor did not even know about - but the contractor made sure it was corrected for the buyer prior to closing. You will not regret you had the home inspection.

I love my first time home buyers! I love their excitement, their questions and the fact that they need a little extra time and nurturing. What I love best about my first timers is when I hand them those keys to their new home! I love their smiles! I know you are starting an exciting time in your life and I know you are also making the best investment you can ever make. Enjoy this time.

Looking for a first time home? Give me a call and I will make sure the process is an easy one for YOU!

Johnathan Smith

646-400-4363

HTTP://WWW.JOHNRESALES.COM

Satisfaction guaranteed!!!

THIS MEANS IF YOUR NOT HAPPY YOU ARE RELEASED!!

I TELL ALL MY SELLER IF AT ANYTIME THE SELLER IS NOT HAPPY I WILL GIVE THEM A RELEASE WITHOUT MAKING THEM PAY ANY MARKETING FEE! THATS RIGHT NOTHING! NO MARKETING FEE!!

I DONT UNDERSTAND WHY MOST OF THEM DONT THINK I WOULD NOT DO IT!

IF SOMEONE IS NOT HAPPY AND DONT FEEL LIKE WORKING WITH ME ANYMORE WHY SHOULD WE LOCK THEM INTO IT?

I WOULD NOT DO THAT. IF YOUR MY SELLER AND YOUR NOT HAPPY I WILL GIVE YOU A RELEASE!

AS OF TODAY I NEVER HAD TO GIVE ANYONE OF MY SELLERS A RELEASE FOR BEING UNHAPPY WITH ME!! THATS RIGHT AND THAT MEANS ALOT TO ME AND IT SHOULD TO YOU TOO!

FOR MORE INFORMATION PLEASE CHECK OUT MY WEB SITE AT

HTTP://WWW.JOHNRESALES.COM

THANKS

JOHNATHAN SMITH
STATEN ISLAND, NY

JOHNRESALES@GMAIL.COM