Real Estate Information Archive

Congratulations -  You've decided to purchase a home. Have you set aside some money for your down payment and closing costs (loan origination fees, home inspection, points and PMI, etc)?  I know you’re excited about the prospect of a new home but, before you run out and make other major life changes or purchases, let's go over a few things.

Money – When you apply for a home loan, you will be asked to provide proof of your income and any assets you have for the last two or three months.  A mortgage lender will review all these statements to help determine your ability to afford your mortgage payments.  If you move money between these accounts during those two to three months or even during the time you are applying for a home loan, you will be required to provide a paper trail to show why you moved the money, where it went, what it was used for, etc.  This is typical with most lenders.  It can get very time-consuming and, oftentimes, frustrating.  Don’t move any money until after you have spoken with your lender to avoid any potential problems.

Employment – Lenders want to see that you have a steady income.  In some instances, changing jobs can raise a red flag. For full-time hourly employees and salaried employees, a job change most likely will not affect your loan, providing you are changing to a job that is similar in compensation to the previous job.  However, if you are a part-time employee, rely on overtime or bonuses for your income or are a commissioned employee, changing jobs can have a drastic affect on your income.  This can significantly harm your chances for a loanl.

Purchases – A new home means new furniture, electronics and appliances, right?  No!  Major purchases increase your debt-to-income ratio, lowering your credit score and making you a less desirable candidate for a loan.  

 If you have any questions, please feel free to  contact me.

I heard from John and Barb via txt yesterday around 6:30pm. They made it back to Skagway and said the weather was perfect. Trail was good and at one point Barb compared the hike to child birth! They had a great time and took over 300 photos. I'm excited to hear all about there adventure and post as much as I can .

What an achievement for a great couple!

7-11-11

I received a SPOT Satellite email from John and Barb a few minutes ago and it puts them at the Warden Station, Linderman City mile 26!! 

Lake Lindeman is 26 miles from the trailhead and 3 miles from Deep Lake. Lake Lindeman has a small tent museum containing photographic displays and a small library of books on the Chilkoot, the outdoors. The campsite is located on the site of what was Lindeman City during the gold rush: a cemetery of deceased prospectors from the gold rush era remains, as well as numerous foundations, former fire rings, old latrine holes, the ruts of Lindeman City's main street, and a plethora of artifacts ranging from broken wine and beer bottles to tin cans.

7-7-11 The next landmark for the Eaton's is Pleasant Camp at mile 10.5 (kilometer 16.5), 2.7 miles (4.4 kilometers) from the Canyon City ruins. Pleasant Camp marks the reunion of the trail with Taiya River and serves as a lightly used, small campground. From Pleasant Camp the trail is fairly flat and weaves through forest and over small creeks.

7-8-11 The Eaton's checked in a few minutes ago with the SPOT Satelite I'm not sure if they are at Sheep Creek or if they have already left Sheep Creek which is 11.8 Miles from the trail head. http://fms.ws/5JEks/59.73782N/135.17732W

During the Klondike Gold Rush the Yukon River to Dawson, Miles Canyon and White Horse Rapids were the most treacherous obstacles on the entire route. Canyon City, was the place where people would stop and plan there next move.

This is the first leg in the Eaton's Adventure. Today they will hike 7.5 miles to Canyon City.

I will only be receiving Spot Personal Tracker emails for now with no photos.  

The Outpost Dyea Alaska

Snag Junction on 7-4-11 They found a few miles of road that wasn't under construction.

John and Barb packed and ready to go! Headed to the Historic Chilkoot Pass with bell's on.

Eaton's enjoying a send off dinner with veteran Chilkoot hikers Bob and Jeanne Sunder.

Continue to check in for updates! Adventure begins July 6th, 2011

Go to www.discoveralaskahomes.com/Blog for updates on the chilkoot hike

Follow my adventerous friends the Eaton's as they travel 5 nights, 6 days on the legendary Chilkoot Pass Trail in North America. 

This adventure begins July 6th, 2011.

Why Use a REALTOR^®?

All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the REALTOR "®" logo on the business card or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again.

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR®.

But if you're still not convinced of the value of a REALTOR®, here are a dozen more reasons to use one:

1. Your REALTOR® can help you determine your buying power -- that is, your financial reserves plus your borrowing capacity. If you give a REALTOR® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders -- banks and mortgage companies -- offer limited choices.

2. Your REALTOR® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.

3. Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning. schools, etc. There are two things you'll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

4. Your REALTOR® can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Your REALTOR® provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR®, title company or attorney can help you resolve issues that might cause problems at a later date.

6. Your REALTOR® can help you in understanding different financing options and in identifying qualified lenders.

7. Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.

8. When selling your home, your REALTOR® can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

9. Your REALTOR® markets your property to other real estate agents and the public. Often, your REALTOR® can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your REALTOR® markets your property to other real estate agents and the public. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your REALTOR® acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc. The REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients.

10. Your REALTOR® will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

11. Your REALTOR® can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing -- a lot of possible pitfalls. Your REALTOR® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.

12. Your REALTOR® can help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your REALTOR® is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).