Interest rates are still at historic lows (for those with excellent credit). Home prices are extremely affordable when compared to area median incomes. There is a large supply of homes available in most markets (more homes to choose from and buyer advantage at negotiations).
But the questions remains. Are you ready to buy?
Answer this questions to see if you are ready
1. What is your credit score?
- (a) less than 620
- (b) between 730 and 850
- (c) between 620 and 730.
- (a) how much?
- (b) yes
- (c) not yet
- (a) I live month to month
- (b) we have funds to cover 8 months of expenses
- (c) we only have savings to cover a few months
- (a) I figured I’d find the house I like first
- (b) Yes, and I have a copy of the letter
- (c) I don’t know where to aply
5. Is your job?
- (a) temporary, part-time
- (b) full-time and secure
- (c) full-time, but our company might experiencing lay-offs
- (a) I won’t be here for that long
- (b) Yes, most definitely
- (c) I’m not sure
- (a) I don’t have time to do frivolous budgets
- (b) I have a spreadsheet showing different scenarios
- (c) I’ve worked up a few, but haven’t spent much time.
- (a) I want a mansion. I’ll take nothing less
- (b) We know within about 500 square feet
- (c) we’ve given it some thought, but aren’t sure
- (a) it’s my way or the highway
- (b) we’ve had several lengthy discussions and agree on most points
- (c) we’ve talked, but have very different ideas
- (a) I want a place i can show off
- (b) I want stability for my family
- (c) I want to be able to decorate like I want!
Homeownership is a big financial responsibility, and with an unemployment rate over 11.9 in California as of October 25, 2011, it’s important that you have funds in place to take care of yourself and your family before you you buy.
If you answered mostly a’s, then our experts recommend you take some time to get your finances clean before proceeding.
If you answered mostly b’c, congratulations! You sound like a prime candidate for homeownership
If you answered mostly c’s, you are very close to being ready to buy. Check your credit report and fix any errors. Talk to banks and lenders and see what rates you qualify for.
If you have any questions please call me at 714-231-9061
If you plan to buy or sell a High Desert home or property contact Hector by Email or call me at 877-611-2288. Put our record of customer service, real estate experience and state-of-the-art technology to work for you in the city of Adelanto, Victorville, Hesperia, Apple Valley or the entire Southern California Area.
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Hector Reyes, Short Sale Specialist
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All SoCal Homes | Victorville, CA 92392