The home buying process in 10 simple steps

It can seem like such a confusing procedure, but we can break the home buying process down into 10 major steps.

1. Find the right real estate agent
Having a savvy real estate agent on your side makes the whole process so much more simple. Working with a professional who knows the market, the process, and how to get the best home for you takes much of the stress out of buying a home.  Plus, it doesn't cost you a dime.  An agent's commissions are paid by the home's seller. Real estate agents have access to important information not available elsewhere that helps you become a more knowledgeable buyer. Finding an agent that works well with you and your personality is critical.

2. Get prequalified
Getting prequalified is a simple task that lets you know exactly what price range to seriously look at and it also gives you the upper edge when it comes to multiple offers on the same home. Having a prequalification letter to present when you do put in an offer on a home gives you the upper hand over someone who hasn't been prequalified.  It lets the seller and their agent know you are capable and able to purchase the home without any foreseeable hiccups in the process. If yours is one of a few offers, a letter gives you strength in the negotiating. 
To get prequalified, you need to provide basic financial information to your lender. They will crunch some numbers and let you know how much they can lend you. Your real estate agent will also be able to help you find a good lender if you don't have one yet.

3. Figure out how much house you can afford
Some lenders give out general guidelines such as, you should look for homes that are 3 to 4 times your annual household income if you plan to make a 20% down payment. Others suggest the 28/36% rule - purchasing a home that is no more than 28% of your gross monthly income, and keeping your total debt below 36% of your gross monthly income. Your agent works with lenders every day and knows which ones are the best. Take their advice if you can and your lender will know exactly what will work best for you.

4. Start your research

There are so many houses to see! You probably already have a few neighborhoods, a certain style of home, bedroom requirements, and price range in mind, so just tell your agent what you are looking for and get busy. Your agent will give you current information on homes listed and available for you to view that meet your specifications and needs. They also know the housing trends and how to help you find the perfect new home.   

5. Shop for your home and make an offer
This is the fun part. You get to go look at homes that you and your real estate agent have found that meet your specifications. Taking a few snapshots of each home will help you keep track of your favorite aspects of each home. You will find yourself imagining where you will put your furniture in each house, your car parked in the garages, how friend and family get-togethers will work in each home, and what bedroom will work the best for each child. You'll figure out which house is the perfect home. Then you and your agent will make an offer on that home. Your agent will have already completed a lot of research about the current market trends in your area so you can be confident you are getting the best deal possible. When you and the seller agree on terms, you can then put your favorite house under contract.  

6. Get an inspection and research your due diligence
Part of the due diligence process is getting an inspection done on the home. Let your agent make these arrangements. An inspection lets you know if anything in the home is in need of repair or if there is structural damage that must be addressed. The due diligence period protects you because if anything is found to be of any concern at all, you can renegotiate your offer or completely withdraw your offer without penalty. Both the buyer and the seller receive copies of the inspection and it can be decided who will take care of any repairs that need to be made. You will get a final walk through to make sure all agreed upon terms have been met.

7. Work with your lender and determine your best loan option
Staying in contact with your lender through the home buying process is necessary. Your agent will also be involved and helpful as well. There are all kinds of loans available. When you let your lender know what is most important to you, they will be able to find a loan that fits your needs. 

8. Get an appraisal on the home
Your lender will arrange for an appraisal of the home to get an estimated current value of the home. The appraisal lets you and your lender know if you are paying a fair price for the home. If the appraisal comes back lower than your current offer price, negotiations will usually have to be made and the price of your offer lowered. That usually means a better home price for you. 

9. Let your agent coordinate paperwork

There is a great deal of paperwork that goes into purchasing your home.  Let your agent take care of it. Your agent and lender will arrange for a title company to take care of the paperwork as well as you await to move into your new home. 

10. Close on the home and get the keys
At closing, you sign all the paperwork that is required for your new home ownership. Loan documents are also included. It usually takes a few days for the loan to fund and all the paperwork handled. Once the seller receives their payment, the home is yours and you get to move in!

I hope this information has helped you get a clearer picture of the home buying process. I would be glad to answer any questions you may have about purchasing a new home, 801-631-3430. 
P.S. Here is another post explaining due diligence you may want to have a look at.

Brought to you by Heath @ HeathsHomes.com

Celebrate with the old fashioned Christmas spirit

Come to the 2nd annual Old Fashioned Christmas

at the Heber Bank Block Building, 2 South Main

Friday, December 15th from 6 to 8 pm

This is a great event with live reindeer, pictures with Santa, cookie decorating, hot chocolate, ornament making, scavenger hunt -  all free to the public. I'll be in the Innovative Real Estate office making ornaments so please stop in and see us. I have a special treat for you. 

Lola's food truck and Fuego Mexican Grill food truck will be there for your dinner enjoyment.

Please join us for a real Christmas experience!

Brought to you by Heath @ HeathsHomes.com

Deciding if it's THE RIGHT home for you is easier than you think

When you are on the search for a new home, how will you know you found the right one? Here is the official, simple checklist.

- Well hopefully your realtor is only showing you homes in your price range, so the right price? CHECK

- When you drive through the neighborhood do you see yourself going home? Do you see yourself fitting in here perfectly? CHECK

- When you see the exterior of the house does it make you excited to see what's inside? Does it look like a safe, comfortable place for you? Are you thinking about your favorite flowers in pots on the front porch? CHECK

- When you walk inside are you already thinking that the Christmas tree would look great here or that your mom would love this kitchen? Do you imagine changing the paint color of a room to fit your tastes better? Then CHECK

- Do you take a few pictures on your phone and can't wait to send them to a few best friends? Are you feeling excited to have a group of your favorite people over for dinner? CHECK

- Have you already overlooked a few flaws? (EVERY house has them.) Do you already feel protective over this home, wanting to ignore something that isn't perfect? CHECK

- Does it just feel right? Deep in your gut and in your heart, does it feel like a good decision? It can be hard to get over the butterflies and excitement of such a big purchase, but do you feel good about living here? Then CHECK

So what do you do next? You put in an offer. Today. Not tomorrow. Don't sleep on it. Today. There are SO MANY people that lose their chance to purchase a great home because they wanted to sleep on it. They hum-haw about it for a day or two and then tell their agent they think they are ready, and their agent tells them that someone else put in an offer and it was accepted that morning. Don't let this be you. If you snooze you lose. Don't sleep on it, just do it. Your gut and your heart is telling you to do it. It's the right house.

Brought to you by Heath @ HeathsHomes.com

Winter in the Park

Here are quite a few great, outdoor, winter activities available for you right here in your backyard. Take a look and put a few on your calendar. I guess we better get out and enjoy this winter weather in our beautiful valley. We waited all summer for this!

All of these events are at Wasatch Mountain State Park. Call Kathy at 654-1791 if you need more information.

Brought to you by Heath @ HeathsHomes.com

Cassidy and Tristi

Here are two of my friends, Tristi and Cassidy. They are amazing and they are doing amazing things. One of those amazing things is hosting their podcast - Sweatpants Chronicles.

Their podcast has changed the way I think, for the better.

Everyone should give them a listening whirl. EVERYONE.

This is what they say about themselves on their website:

Two friends learning how to live their best lives and love themselves at the same time!

Are you struggling to love yourself and feel like you'll never be good (skinny, pretty, successful etc.) enough? Are you working yourself ragged and still coming up short at the end of the day? We've been there too! We exhausted ourselves with the struggle and decided we'd had ENOUGH. Enough of the mean girls (in real life and in our heads). Enough of the anxiety. Enough of the insecurities. Se we said STOP IT to all those voices telling us were not enough. And we embarked on our own journeys towards self love with the help of great friends, a whole lotta feelings, and some functional fitness.  It was hard work but we've come a long way and now we want to help you become the total badass you already are! We're going to have real life conversation - conversations you might not even have with your best friend. We'll talk you through the tough topics while crying and (hopefully) laughing with you along the way. So grab your favorite caffeinated beverage, throw on your comfiest sweatpants and stay awhile.

 

You can subscribe to their podcast here and find them on Facebook here. Seriously, they are great. They can help you feel great and be great as well. They talk about some serious topics that many of us deal with everyday, or actually, some of us don't deal with at all, although we should. If you have EVER considered seeing a therapist but are apprehensive for any reason, give these two gals a go. Cassidy is a licensed clinical social worker and Tristi is a straight up, talk it out girl.

Brought to you by Heath @ HeathsHomes.com

Shop Local Saturday Event

It's National Shop Local Saturday on November 25th and the Chamber of Commerce has partnered with over 30 local businesses to bring you a great shopping experience this year.

There are a few ways to take advantage of this event.
1. Play Shop Local Saturday BINGO and win a $500 shopping spree. Every resident in the county will be mailed a BINGO card. When you receive your card, you have until Saturday the 25th to visit your favorite businesses, get your card validated, and get 5 in a row. For every 5 in row you get, you will be entered into the $500 shopping spree that will be drawn at the Tree Lighting Celebration in Midway on November 25th. 

2. Use the great coupons found in the Wasatch Wave or you can print them from the Chamber of Commerce website here. 

Over 30 local businesses are offering some really great deals for your shopping enjoyment.

3.SPARKS FURNITURE on Heber City's Main Street is offering a 10% off coupon. If you mention HeathsHomes blog you get an additional 10% off. A total of 20% off your purchase at SPARKS FURNITURE, 84 South Main!

Shopping local is a great feeling and brings our community together. I hope you get out this week and visit a few new businesses you haven't shopped at yet with your BINGO cards. Don't forget the great coupons available for our local businesses and please stop into SPARKS and see their fantastic items for your home.

Brought to you by Heath @ HeathsHomes.com

Tuesday, November 21st - this is the place to be

Did you know many of the 4-H and FFA youth of our valley have been raising turkeys since July just so you can have a delicious, fresh, home grown turkey for Thanksgiving?

Please consider coming to the Wasatch County 
Junior Turkey Sale

on Tuesday November 21st 2017 at the 

Wasatch County Events Center at 7:00 pm
to support our local youth and get yourself a
fantastic turkey.

This turkey show and sale is a unique opportunity for the youth of Wasatch County to make back their investment money as well as put some in the bank. Thank you in advance for your support.

Brought to you by Heath @ HeathsHomes.com

If there is a remodel in your future, this is a must read.

Let's talk about remodeling. 

There are a handful of reasons people remodel their homes. Maybe a family requires a change in the shape and stage of their home, or they may want to get more enjoyment out of their home so changes are needed to do so. If home owners are not planning on staying in their home for the long haul, they may be trying to get more equity in the home, or they may be trying to impress potential buyers or bring in higher offers.

Whatever the reason, there are smart ways to look at a remodel. In a recent Remodeling Impact Report by the National Association for Realtors, it tells home owners who are looking to sell their home that there are a handful of remodeling projects that appeal most to potential buyers. 

The most desirable indoor projects are:

1. complete kitchen renovation

2. kitchen upgrades

3. bathroom renovations

4. new flooring

However, the interior projects that yield the largest financial return upon the home's resale are:

1. hardwood floor refinishing (one can usually recover 100% of project costs)

2. new wood flooring (about 91% of costs can be recovered)

3. insulation upgrades (76% of costs will be recovered)

4. Bathroom renovations yield the smallest financial recoup, at resale time. About 50% of project costs can be recovered.

According to the report, when the remodel or renovation goes outdoors, the exterior projects that are the most appealing for potential home buyers are: 
1. new roofing

2. new windows

3. a new garage door

4. new vinyl siding

The study also shows that new roofing recovers about 109% of the cost of the new roof when the home is resold. 

Exterior remodeling projects help with curb appeal and the first impression to potential buyers. They can also be extremely satisfying for the home owner as well. 

If you have a remodel on your mind, keep these study results in mind. They may help you direct your efforts where they are best appreciated.

Brought to you by Heath @ HeathsHomes.com

Give Thanks

Are you looking for a fun and sweet new little Thanksgiving project to work on and display now that November is here? My Girlfriend's Quilt Shoppe in Midway is our incredible local fabric shop and has just what you are looking for.

This wool appliqued pillow gives you the chance to express your creativity and do it at your level. If you are a beginner at playing with fabric and wool or if you are a seasoned wool handiworker, this little project is great for everyone.

The Girlfriends have made up kits for this project just for us. Go in and tell them you saw it on Heath's blog and get a 10% discount on the kit. They have many other decorating projects and ideas for you to spiff up your home this season, as well as great gifts.

Brought to you by Heath @ HeathsHomes.com

Don't miss the spookiest Halloween destination this year!

GIVING INSTEAD OF TRICKING

The coolest Halloween Haunt to be found in the valley is the home of my friends, Blair and Jessie. They take Halloween to a whole new level. It's incredible. My crew and I went two years ago to check it out and it was so great! This year will be no different.

One of the things that makes it so great is that they are doing a GIVING INSTEAD OF TRICKING food drive for the local food pantries. Food pantries need food and household supplies so this year Blair and Jessie are accepting:

toilet paper, dish soap, laundry soap, canned foods and dry packaged foods, cleaning solutions, canned meats, as well as milk, eggs, and bread. They have an extra fridge to store these items before delivering them to the food pantry. Donations will be accepted all week.

Last year Halloween visitors from the community filled their SUV with food pantry goods. Let's fill a few SUVs this year. Grab an item or two for the food pantry and take your family to visit 250 N 500 W in Heber City. You'll enjoy Blair and Jessie's love of Halloween as you stroll through their yard and get spooked.

Brought to you by Heath @ HeathsHomes.com

A common misconception among homeowners

Heber Valley homeowners, here is a MAJOR fallacy for you to think about this fall as we head into colder weather. 

'New windows make a home energy efficient.'

Studies are telling us that this is not true. While new windows definitely help with curb appeal, they are unlikely to be super important to a home's energy efficiency. "A window is basically a hole, and a hole is never efficient, " states Laura Stukel, an agent with LW Reedy Real Estate.

In the National Association of Realtors' most recent edition of REALTOR MAGAZINE, there was an article titled 7 Real Estate Ideas That Deserve to Die, where I found this interesting information. So many people think that new windows are the answer to make their home more energy efficient and a great way to save money in the long run. Some window manufacturers are claiming a 50% return on the investment of new windows that the Federal Trade Commission has recently found to be untrue and very unlikely. 

So what is a better investment and a great way to cut energy bills? Insulation. Insulation is probably close to 1/3 the cost of new windows and will give you a better return on your investment. So before you get busy replacing those windows in your home to become more energy efficient, try calling the insulation company first. Owning a home is kind of a big deal, and helping you become a more knowledgeable homeowner is one of my goals.

Brought to you by Heath @ HeathsHomes.com