10 Tips for First-Time Homebuyers

The thought of owning your first home seems very exciting. Newlyweds, small families, or even independents make  same, common mistakes when purchasing their first home. Without proper help from a professional, such as a Realtor, first-time homebuyers will come across complications.

These following 10 Tips will help your first home buying experience a breeze:

1. Be picky, but don’t be unrealistic. There is no perfect home.

2. Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you.

3. Get your finances in order. Review your credit report and be sure you have enough money to cover your downpayment and your closing costs

4. Don’t wait to get a loan. Talk to a lender and get prequalified for a mortgage before you start looking.

5. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion.

6. Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area?

7. Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you’ll buy as well as type of mortgage terms that suit you best.

8. Don’t let yourself be house poor. If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals.

9. Don’t be naïve. Insist on a home inspection and if possible get a warranty from the seller to cover defects within one year.

10. Get help. Consider hiring a REALTOR® as a buyer’s representative. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. And often, buyer’s reps are paid out of the seller’s commission payment.

Especially in today’s economy, it is crucial that you have the right guidance and advice to from a professional.

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Posted under Buyers' Market, California Market, Investing, Nevada Market by admin on Friday 10 October 2008 at 1:45 am

CityCenter on the Rise

CityCenter is a 76-acre urban resort destination located on The Strip in Las Vegas and developed by MGM MIRAGE. Distinguished for creating unparalleled resort, dining and entertainment experiences, MGM MIRAGE and CityCenter offer a level of amenities, services and standards that undeniably defies expectations. CityCenter will encompass residential living, a shopping district, restaurants, bars, clubs, hotel and gaming, and art accessible to everyone.

With the continued expansion and development of CityCenter, Las Vegas is forever changed. ARIA Resort & Casino and Vdara Condo Hotel have recently topped off, bringing the completion of the ultimate resort residential opportunity on The Strip that much closer.

Check out their live site cam.

More information can be obtained by us at CityRidge.com or simply go to their website with detailed information.

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Posted under Developments, Investing, Las Vegas, Nevada Market by admin on Friday 10 October 2008 at 12:42 am