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The 1, 2, 3......Of Buying A Home

by The Domis Team

Buying a home is a process. There are many steps involved from the time you start your search to when you are finally able to move your boxes in. If you are ready to find your dream home in the Whittier Area, help is here. Understanding the major steps of the home buying process will help eliminate any initial stress you might have. Here is a basic step by step guide to buying your new home!

 

1. Make a List of Wants and Needs! Know what your must haves are in your new home as well as those features/amenities you might prefer but are not deal breakers. Also, figure out a budget so you fully understand what you can afford. Doing this work ahead of time will allow you to narrow your search.

 

2. Begin Your Search! Start searching for your new home online.

 

3. Work with a Top Realtor! Finding a top real estate agent to work with will help you throughout the process. They understand the local market, the art of negotiation, and so much more that will undoubtedly help you find your dream home in no time.

 

4. Find a Lender! Ask your realtor for recommendations for the best lending agents to help you with your financial needs.

 

5. Decide on a Loan! Pick out the perfect mortgage for you based on the budget you created at the start of the process. If you are able to get pre-approved for a loan, you will stand out to sellers.

 

6. Start Looking! Hit the road with your realtor to start looking at homes. Home information online is helpful at the start but you will never get the full feel for a home until you walk through it. Attend open houses and schedule showings of homes you are interested in to find the right home for you and your family.

 

7. Make an Offer! After finding the perfect home, it's time to put in an offer. Your realtor will help you draft an appropriate offer that will hopefully make the home yours!

 

8. Enter Negotiations! Understand that there will likely be a counteroffer from the seller. This is where your realtor comes in handy because they are well versed in the step. Discuss what you are willing to pay for the home and what conditions you need to feel comfortable with your purchase.

 

9. Inspect the Home! One of the most important steps is the home inspection. You need to make sure that there are no underlying issues with the home that you could not see during the open house. Ask you realtor for licensed home inspectors in your area and go with them during the inspection so you can ask questions as they pop up.

 

10. Have the Home Appraised! Now it is your lender's time to determine the cost of the home. If it is appraised close to your offer, the home is yours!

 

11. Closing! During closing, you will finalize all paperwork to transfer the home to you.

 

12. Move In! Enjoy life in your beautiful new home!

 

Find more home buying tips by visiting our website and following us on our Facebook page.

 

Neighborhood amenities to check before you purchase a home.

by The Domis Team

A home purchase is a big decision that affects everyone.  Before you begin to look, figure out what amenities are most important to you and your family in the neighborhood of your choice?

  1. Schools- Whether or not you have children the schools in your neighborhood are of great importance.  Great schools add value to your home as well as a solid educational foundation for your children
  2. Conveniences- Are there a number of grocery store options close by?  Is your bank close? How about playgrounds for the kids?  Where are your doctors located? All these things play into the likeability of the location of your home.
  3. Dining and entertainment- While this may not be on the top of your list, your hobbies, dining preferences and entertainment options and the distance from your home will be important.
  4. What amenities does the home itself offer?  Big backyard, outdoor pool, extended patio or deck for outdoor living space?
  5. If it is a relatively new neighborhood, what was it built upon?  Some areas have been built over wetland and filled.  This could cause unsettling in your home resulting in cracked foundations and walls.

Before you begin your home search, partner with a real estate agent that is an expert in the area and has lived or worked there for a good number of years.  There experience and knowledge could be a lifesaver for you and can save hours of viewings in areas that don’t meet your needs.

Need more information about the Whittier area?  Contact us todayWe’ll help you find the perfect home in the best neighborhood to suit all your needs.

 

Why it's important to know your Mortgage Rate

by The Domis Team

Do you know your mortgage rate?  This may sound simple, but almost 3 of every 10 mortgage holders don’t have the answer!  Here is why you need to evaluate your rate now:

Interest Rates are on the rise

Interest rates will continue to rise, so this could be your last chance to lock in a low rate for years to come. The average 30-year fixed rate is now at 4.70%, up from 4.13% one year ago. This is a $119 increase monthly from the 4.13% rate and a $1,428 increase annually!

Do you have an adjustable rate mortgage (ARM)? If so, you need to contact your lender immediately and lock in your interest rates at one of the low rates offered now.

Have you considered a refinance?

Many individuals don’t realize that when you refinance your home you’re actually paying off your first mortgage in full and receive a new one. This means you are starting at square one and can get a new rate and new terms.  You have the option of the following refinancing:

  • Lock in an adjustable rate mortgage (ARM)
  • Get a cash-out mortgage to use the equity in your home.
  • Pay money into your mortgage to get a lower loan amount.
  • Should you refinance?  Here are things you need to consider: 
  • How much do you owe?
  • What is the appraised value of your home?
  • Do you have a good credit score? 
  • Debt to income ratio at this time?  

Why would you take the cash-out option?  When individuals choose for the cash-out option they are using the money for a very specific purpose.  Here are a few examples:

  • Pay off high-interest consumer debt
  • Do a home remodel or update
  • Send a child to college
  • Invest in other property

What costs could be incurred in refinancing your Whittier area home? It's important to understand that refinancing fees vary by state and lender, so it's important to work with a mortgage lender directly in determining your actual costs.  The following items could possibly incur additional costs in a refinancing situation:

  • Application Fee
  • Loan Origination Fee
  • Points on the Loan
  • Appraisal Fee
  • Title/Insurance Search
  • Homeowners Insurance
  • Home Inspection
  • Surveys
  • Attorney costs

Although it may be possible to roll many of these items into your new mortgage, you need to check with your mortgage lender for specifics.

 

Have more questions on home buying or refinancing?  Contact us at 562-884-5373 today.

Whittier California Housing Market Update: 09/27/17

by The Domis Team

 

 

 

 

 

 

 

It's a Home Sellers market!  While days on the market have increased slightly, the market index is trending at 46.71 indicating an excellent time to sell your Whittier area home.  Home prices have dipped ever so slightly as well, but are still far above the norm.  If you're considering selling your Whittier California area home, contact The Domis Team for a personalized consultation, or you may obtain a free, no obligation home analysis HERE.

Here are the current Real Estate market stats for the Whittier area:

Properties on the Market- 196

Median Home Square Footage- 1,488

Median Bedrooms- 3

Median Bathrooms- 2

Median Home Price- $551,180.

Average Days on the Market- 60 days

Price per Square Foot- $372.00

Below are the 7 & 90 Day market trends to watch:


 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Are you searching for the perfect home in Whittier CA?  Sign-up for our Preferred Email Listing Alerts and receive only homes new to the market that meet your personal preferences.  Sign-up here.

Brought to you by Linda Domis & The Domis Team

Keller Williams Realty

Whittier, CA 90603

www.whittierhomes.com

Phone- 562-884-5373

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Linda & Ryan Domis - The Domis Team
Keller Williams Realty
16310 E. Whittier Blvd. Suite F
Whittier CA 90603
Cell: 562-884-5373
Cell:562-458-6947
Fax: 562.902.5158
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Contact the Domis Team

Linda Domis - DRE #00571375 | Ryan Domis - DRE #01969771
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