Buying a home, especially your first home, can be stressful and confusing if you do not have the tools to help you make informed decisions. Karen Nickels offers our customers a variety of tools to guide you through the home buying process.

Why use a Buyer’s Agent
First Time Home Buyer?
Why New Buyers Choose Karen
Getting a Legitimate Lender and Getting Pre-Approved
Avoiding Financial Stress- Plan
Calculators - Mortgage calculators, and much more!
Build a Plan of Action and Get Ready
Importance of an Inspection
The Housing Market: Sellers, Seasonal or Buyer’s Markets
Why Buyers Choose Karen
About Karen
Happy Homeowners - Hear what our previous buyers have to say.
Property Search - Simple. Automated. Dependable, confidential. No Obligation.
Valuable Resources
Contractor Referral List
Communities - Find out more about the community in which you want to live.
Documents/Forms – 1031 exchange
Helpful Links

BUYERS

Why Use a Buyer’s Agent

It is important that you choose an experienced agent who is there for you. Your agent should be actively finding you potential homes, keeping you informed of the entire process, negotiating furiously on your behalf, and answering all of your questions with competence and speed.

First, find an agent who represents you and not the seller. This is beneficial during the negotiation process.  If you are working with a buyer’s agent, he/she is required not to tell the sellers of your top choice or your bottom line.  In addition, he/she is also focused on getting you the lowest asking price with the best terms.

Buyer’s agents show you more properties. Not only are they plugged into their Multiple Listing Service, they also are actively finding homes that are listed as FSBO, or homes that sellers are thinking of listing –but may not yet be on the market.


Getting a Legitimate Lender and Getting Pre-Approved
It used to be that buyers could go house shopping, they found their dream home, and then they go to get pre-approved. However, in today's market that has proven to be one of the least effective methods in landing a dream home.

Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre-qualified and pre-approved are different things. Pre-approval means that you have applied for a mortgage; the lender has received a completed mortgage application, received your credit report, and verified your employment, assets, etc. When you are pre-approved, you know exactly what the maximum loan amount will be. A pre-qualified letter is not verified and in essence, does not count for much if you are competing with other buyers who are pre-approved. When you are pre-approved, you and the seller know exactly how much house you can afford. It gives you credibility as an interested buyer and lets the seller know immediately that you are a qualified buyer and actively working the loan process.

In addition to being pre-approved, it's important to be pre-approved with a legitimate lender. Legitimate lenders include: banks, mortgage bankers, credit unions, savings and loan associations, mortgage brokers, and online lenders.

Some lenders to avoid: those who lose a form or misplace a file, those who gather information from you in an unorganized manner, those who are not informed about interest rates, points or costs, and those who cannot provide you with the right information.

Build a Plan of Action and Get Ready

Buying a home will probably rank as one of the biggest personal investments one can make. Being organized and in control will contribute significantly to getting the best home deal possible with the least amount of stress. It's important to anticipate the steps required to successfully achieve your housing goal and to build a plan of action that gets you there.
Before you can build a plan of action, take the time to lay the groundwork for your decision-making process.
First, determine what you would be comfortable spending on a monthly mortgage. The best way to do this is to find a reputable lender who will pre-approve you. Pre-approval will let you know how much you can afford so that you can look for homes in your price range. Getting pre-approved helps you to alleviate some of the anxieties that come with home buying. You know exactly what you qualify for and at what rate, you know how large your monthly mortgage payments will be, and you know how much you will have for a down payment. Once you are pre-approved, you avoid the frustration of finding homes that you think are perfect, but are not in your price range. Second, ask yourself where you want to live and what is the best location for you and/or your family. Things to consider:

• convenience for all family members
• proximity to work, school
• crime rate of neighborhood
• local transportation
• types of homes in neighborhood, for example condos, town homes, co-ops, newly constructed homes etc.

The Markets: Sellers, Seasonal or Buyers

Hot Market or Sellers Market
This type of market is one which is an extremely competitive market one,  and is one that is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than their asking price. It is even more crucial to be prepared and to be ready as a buyer when the market is hot. It can be easy to get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.

Normal Market or Seasonal Market
In a normal market or seasonal market, there is fairly a large number of homes available and an average number of buyers. This market does not necessarily favor the buyer or the seller. A seller may not have as many offers on their home, but he / she may not be desperate to sell either. Again, it is the buyer's responsibility to be prepared. During a normal market, the chances to negotiate are higher than in a hot market. As a buyer, you can expect to make offers at lower than the asking price and negotiate a price at least somewhat less than what the sellers are asking.

Cold Market or Buyers Market
In a cold market, houses may be listed for more than a year and prices of houses on the market may drop considerably. This market is advantageous to the buyer. As a buyer, you have the time to make an offer that works to your best interest. It is not uncommon to low-ball (within reason) and to find that sellers are accommodating to meet your requirements. Keep in mind that even though this market is a great time for buyers, you do not want to lose your dream home by being unrealistic. Your goal is to get your dream home at the best possible terms and price.

Importance of Inspection

The purchase of a home is one of the biggest investments a person will make in their lifetimes. But it is also among the greatest sources of anxiety. A home inspection helps ensure homebuyers of the quality of their investment by making them aware of its condition and alerting them to any concerns. This can serve to relieve stress, increase confidence and even reduce the threat of legal action in the future. As a buyer, you are entitled to know exactly what you are getting. Don't take for granted what you see or what the seller or the listing agent is telling you. An inspection is an opportunity to have an expert look closely at the property you are considering and getting both an oral and written opinion as to its current condition.

Beforehand, make sure the report will be done by a professional organization, such as a local trade organization or a national trade organization such as ASHI (American Society of Home Inspection). You should attend the inspection and go along with the inspector during the process. This gives you a chance to ask questions about the property and get answers that are not biased. In addition, the oral comments are typically more revealing and detailed than what you will find on the written report. Once the inspection is complete review the inspection report carefully with your buyer agent. The inspection report can also be used to think through a maintenance plan for you new home. You have to demand an inspection when you present your offer. It must be written in as a contingency; if you do not approve the inspection report you can either negotiate the inspection issues or don’t buy the home. Most real estate contracts automatically provide an inspection contingency.

Some of the benefits of a home inspection are:

Knowledge: Understanding exactly what you're buying - old or new
Peace of mind: Helps in making a sound buying decision
Savings: The home inspection reveals the need for repairs or replacements before you buy
Fewer surprises: The home inspection limits the number of problems you may discover after you move in
Education: A good home inspection also gives you invaluable details about your new home in addition to information about the condition of the property. You'll learn where the main shutoff valves to the utilities are located, how the house operates and more!

Avoiding Financial Stress

By asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money.
It is still true that the better qualifications you have, the lower your interest rate will be. However, there are mortgages available for almost everyone; it's the interest rates or the down payments that vary.
Before speaking with a lender, know what monthly dollar amount you feel comfortable committing too. Then when you discuss mortgage pre-approval with your lender, it is easier for you to determine the monthly amount and what value of home the monthly amount translates into. Do not put yourself in the position where you will be paying more each month than you intended simply because the "dream" house requires it.

Do your research on the types of mortgages available to you and find the one that best suits your needs. There are a number of considerations in terms of finding the best mortgage for you:

What type of real estate market are you in?
How much of you cash should go into the house – mortgage more or less?
Do you want to do renovations or changes to the house?
Are interest rates falling or rising?
Fixed mortgage rate or variable rate? Fixed stay the same for the life of the loan.
What are your long-term goals – do you intend to re-sell soon?
How long do you need the mortgage?
Are you expecting any up coming life changes?

Why Buyers Choose Karen?

Buying a new home will probably rank as one of the largest personal investments you make and it involves many decisions that go beyond simply choosing the one you like. Your realtor must be a local market expert who will provide you with reliable and timely information. Karen is one of the top brokers in her area. She knows and understands the local community resources, property history, and values. Also, as a classically trained architect, she understands the inter workings of buildings. Her time is spent previewing homes so when you view them together she speaks with authority about the differences not apparent on paper or an untrained eye.

Karen architecture background is unique in real estate. She conducts a pre-inspection prior to her clients submitting an offer and talks her clients through possible renovations prior to closing. After closing, Karen likes to continue to stay involved with her clients and the buildings they have purchase.

When you choose Karen to help in your home buying process you will have access to real time MLS listings and a realtor that is up to date on them. She is actively finding you potential homes, keeping you informed of the entire process, negotiating furiously on your behalf, and answering all of your questions with competence and speed along the way.

Regardless of the price point of your purchase, she is respectful of the trust you place in her and works hard to earn your loyalty and confidence. No move, under the best of circumstances, is without challenges. Karen job is to manage the transaction in a smooth and efficient manner to shield you from the potential stresses involved and let you focus on your move.

It's important that you choose an experienced agent who is there for you. Karen is that agent who is there for you before and after the sale.

Hear what her clients have to say about there buying experiences - click here to see what her Satisfied Homeowners have to say.

If you would like to contact her for a confidential consultation or just to ask a question, Click Here.

Why buyers choose me to purchase there first home?

Buying Your First Home?
As A Realtor/Architect, I’m Your Professional Guide.
You might be a bit afraid or intimidated by the whole process of buying your first home, and that’s normal (I was!). However, as an expert in working with first time home buyers, I have a free New Buyer Workshop that you may want to consider attending. Experts from the mortgage and legal areas of real estate and Karen of course speak on the entire process of your home purchase.  We share and explain the documents involved and things to look out for along the way. There are no silly questions!  Karen has had hundreds of new buyers go through her 2 hour seminar.

Together, we will define:

• How to search for your first home
• What an offer looks like and what a Purchase & Sale (P&S) is
• How to negotiate for the best deal – this is not always price
• How much can you really afford & Determine payment estimate
• How to qualify for a mortgage. The requirements of banks and other financial institutions. 
• How much cash you should put down or purchase a home with little of nothing down
• The tax advantages of buying
• Determine if renting or buying is better for you
• What to look for in an home inspection

Buying a home will probably rank as one of the biggest personal investments you will make. Being organized and in control will contribute significantly to getting the best home possible with the least amount of stress. It's important to anticipate the steps required to successfully achieve your housing goals and to build a plan of action that gets you there.

Before you can build a plan of action, take the time to lay the groundwork for your decision-making process.

First, ask yourself how much you can afford to pay for a home and still have a life. If you're not sure on the price range, find a lender and get pre-approved. Pre-approval will let you know how much you can afford so that you can look for homes in your price range. This alleviates some of the anxieties that come with home buying.  Then you will know exactly what you qualify for and at what rate, you will know how large your monthly mortgage payments will be, and you will know how much you will have for a down payment. Once you are pre-approved, you avoid the frustration of finding homes that you think are perfect, but are not in your price range.

Secondly, ask yourself where you want to live and what the best location is for you and/or your family. Things to consider:

• Convenience for all family members
• Proximity to work, school
• Crime rate of neighborhood
• Local transportation
• Types of homes in neighborhood, such as condos, town homes, co-ops, newly constructed homes etc.