Andre Shambley

By Dwan Bent-Twyford,

The Investors Edge University

Many times we find distressed homeowners who are willing to deed their property to us and walk away. Typically there are back payments that need to be paid as well as attorney fees, taxes, and such. Although we are always happy to accept a deed, we have a few steps we follow before we actually file it and come out of pocket with any cash. full story

Sales of previously-owned homes jumped 9.4% in September after falling for the first time in four months in August, said the National Association of Realtors. Year over year, sales of existing homes were up 9.2% in September.

Early information from a NAR report to be released next month suggests first-time homebuyers accounted for more than 45% of home sales in the past year. full story

•· Click here for your Free Real Estate Buyer's Guide

Homeownership has long been regarded as one of the basic elements of the American dream. Buying a home, however, is anything but basic. It is important to understand the process as well as how your specific needs fit into your search for a new home.

This tutorial was designed to help you get the most out of buying a home whether you're a first-time buyer, moving up or downsizing, we'll walk you through the steps and strategies you'll need.

• Getting Started
  Your reasons for buying a home determine the steps and strategies you should follow.
  • First-time buyer
  • Moving up
  • Downsizing

• How Much House can You Afford?
  Take the time to examine your finances and determine how much you can afford for down and monthly payments.
  • Clean up Your Credit
  • Low-Down Options

• Choose a Broker

Home sellers enlist the help of professionals to represent their interests, so why shouldn't home buyers do the same?

• Begin Your Search
  The search for a new home should not start with the price. More important are the location and quality of the property and its ability to meet, or be tailored to meet, your needs.

• Make the Offer
  Once you've found the home you want, it's time to negotiate the price. Find out about various factors to consider when preparing to make an offer.
  • The smart buyer's purchase contract

• Select a Mortgage
  Finding the right mortgage involves some digging. Interest rates, points, processing costs, and adjustment features all affect how well a mortgage suits your needs.

• The Application Process
  Here's what you can expect when you're ready to apply for your loan.

• Close the Deal
  An accepted contract doesn't mean the deal is done yet, but there are things you can do to help avoid any snags.

Click here for your Free Real Estate Buyer's Guide

The right number of bedrooms, lots of sunny windows, a spacious kitchen ... these are just a few of the traits that prospective buyers look for when shopping for a home. But what about the surrounding neighborhood? How will you know if the location is right for you?

The quality of the neighborhood can have a significant impact on the home's overall value so it is well worth spending some time to check out the neighborhood. Here's how:

Start with the statistics - you can find information online about the area's demographics, school scores, crime rates and nearby stores, parks and other conveniences.

Visit City Hall - you can get copies of any future construction plans at your town or county's office of zoning and planning.

Get to know the area - one of the first characteristics you should notice about a neighborhood is its appearance. Take a walk around the area to get an overall view of where you might end up living. Drive through the neighborhood at various times of the day and night, during the week and on weekends. Compare what the traffic is like during rush hour to a Saturday morning. Notice if the neighborhood is quiet or if there are barking dogs or other noisy considerations.

Families with children should research local schools. Contact the school district's office to obtain school test scores and district budgets before you decide on a home.

Consider the distance from this neighborhood to your job. You may want to calculate the drive time with traffic, rather than just the actual miles. Also factor in how close you are to parks, sports complexes, shopping malls and grocery stores if these conveniences are important to you.

Your home is likely your most valuable asset, so naturally, you want to protect it.

But homeowners insurance can be complicated. You want to avoid paying too much for coverage you don't need, but you shouldn't leave yourself vulnerable to loss either. Here are some secrets of the home insurance business that may help you save without risking your home.

Know the value of your home. To account for inflation, your policy's rate may rise periodically. When this happens, be sure to read the numbers carefully; your rates may be higher than the actual inflated value of your home. If this is the case, you can get a truer idea of your home's value by speaking with a builder and asking what it would cost to rebuild your home. Or, you could request that your insurance agent performs a reassessment to come up with a more reasonable number.

Adjust your policy for home improvements. Such major home renovations as adding a new room or expanding a kitchen, should be properly insured. You'll want your hard work reflected - and covered - in your homeowners insurance.

Some possessions may not be covered. Your homeowner's policy may provide only limited coverage for expensive items like electronics, antiques or jewelry. If you own items like these, you may want to supplement your policy with a floater that provides additional insurance for valuables. Just be sure to get the items professionally appraised so you know what they're worth.

Some claims may be excluded as well. Many people fail to read their insurance policies until it's too late. The best insurance that you are properly covered is to be informed. Read your policy and make sure that you are covered for incidents like mold and water damage, floods and other natural disasters, even trampolines and dogs, if needed.

When it comes to choosing professionals to assist you with your real estate needs...Experience is Priceless! Andre'Shambley & Miami's Best REALTOR® Team, 305-396-9106. MiamiBestTeam@AOL.com. www.OnePlaceOpenHouse.com

Ready to refinance or looking for a better rate? For your complimentary rate quote visit Jacinta Shambley, APEX Lending, Inc. JShambley@ApexLending.com. www.JShambley.ApexLending.com