Five Tips For San Diego First Time Home Buyers

The present San Diego real estate market provides several distinctive opportunities for first-time home buyers. From low interest rates to foreclosed properties and short sales, the current economic environment is creating a fresh wave of San Diego home buyers that may not have previously considered the possibility.

Many first-time home buyers may not be aware of the numerous elements involved in the home-buying process. Being a Member of the Top 5 in Real Estate Network®, I am aware of the likely pitfalls that may possibly trip up new potential buyers along the way. Here are 5 si-highlight--primary recommendations for you when buying a new home.

1. Investigation: Do your homework before you buy and be sure to review the closing statistics of similar homes in the neighborhoods you are considering. Search the internet, including the San Diego MLS and social media internet sites, in order to get as much critical information as possible concerning residences that appeal to you and the communities in which they're found. Provide this kind of information to your real estate agent who can interpret it and put it within the appropriate context for your goals.

2. Credit worthiness: Due to the current constrained lending environment, it’s critical to clean up your credit standing before applying for a mortgage loan. A low credit score may not just affect your rates, but may prevent you from getting a mortgage altogether.

3. Get pre-approved: Getting your bank loan pre-approved provides you with additional influence over home sellers. Not only will you understand what the purchase parameters are, but you may be able to negotiate an improved purchase price because you can close with more certainty and more swiftly. Make sure that your real estate agent negotiates a solid financing contingency.  In today's environment financing is the biggest challenge you will face when purchasing your home.
4. Title: Be certain any new enhancements or construction to a pre-existing property have been appropriately filed with the local municipality and have been permitted.  Otherwise, you may find yourself in a compromised position later down the road when you try and sell the property.
5. Inspection and appraisal: Getting a home inspection is very si-highlight--primary to be able to weed out just about any hidden problems, such as mold or harmful termites.  It is the single most si-highlight--primary piece of due diligence that you can conduct during your investigation period and before removing contingencies.

Using the services of a competent agent is essential for all home buyers, but especially first-time home buyers. Make sure the Realtor you decide on is experienced, knowledgeable and a local expert on the areas you're looking at. For more information, e-mail me, and make sure you forward this to other first-time home buyers you might know.

Daniel Beer 
Prudential California Realty
Mobile: 858-337-7409

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