Elizabeth Buccigrossi, Middletown Real Estate When Only The Best Will Do!


Your Team


Your Agent
A successful purchase starts with the right representative. In fact, once you’ve selected the best agent to represent you, it is likely that he or she can recommend other professionals to join your team, taking more of the responsibility off of your shoulders.

Lender (Appraiser)
A bank is not just a bank. Having the right backer can be extremely important – it is your money we’re talking about after all! Make sure that your lender and financial representative is someone with whom you feel comfortable, and be wary of any lender who promises you more than you think you can reasonably afford. Your lenders may or may not require an independent appraisal, and typically will make arrangements for the appraisal themselves.

Lawyer
Your home purchase is far too important a transaction to skimp on legal representation at the risk of leaving yourself open to costly future issues. Find a lawyer who is willing to take the time to answer your questions and who specializes in real estate law.

Home Inspector
No home inspection is 100% guaranteed, but a few hundred dollars to catch a major problem now is certainly better than many thousands to correct that ‘surprise’ down the road. Ask your agent for a recommendation.

Contractor
Planning some renovations? You’re not the only one! The home renovation industry is booming, and in some markets, booking a contractor must be done months in advance (that’s a long time to go without a kitchen). Don’t let finding the right contractor slip through the cracks – planning ahead will almost certainly make your renovation smoother, and you contractor will appreciate the advance notice. 


Your Plan


1.  Find the right representative

Even if you’re not quite ready to buy, your buyer’s agent can be an absolute wealth of information, and can often offer ‘scoops’ on local developments you might not have know about otherwise.  Speak to your agent first and he or she can be helping to guide you right from the start.

2.  Find out what your price range is
Online mortgage calculators are a good place to start, but as you get closer to being ready to buy, there is no substitute for a written mortgage pre-approval.  Just speaking to your lender is an extremely worthwhile venture – this is the only way to really get an in-depth picture of your overall financial picture and to discover exactly what you can reasonably afford to spend on a home (and possibly on renovating).

3.  Find out what your local market looks like
The internet can be incredibly valuable in doing preparatory research.  Start with your agent – he or she can direct you to valuable resources and immediately start e-mailing you real estate listings that may interest you (or at least give you a better idea of what your needs and wants are).

4.  Find out what your true needs and wants are
Compose a needs/wants list that takes into consideration your local market conditions, your price range, and the advice of your real estate agent.

5.  Find your dream home!
Once you’re ready to act, you may be surprised by how quickly you can make a decision.  Armed with your pre-approval, a little market knowledge, and your needs/wants list, call your real estate agent, hit the pavement, and when you see ‘the house’, put in an offer. 

With the right team behind you, it really can be that easy!


Your Calculator


Let us help you find out what you can afford! Our mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.

Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %

Your Real Estate News

real estate - Yahoo News Search Results

Brazil’s residential real-estate bubble may deflate slowly, not pop, as speculators abandon the market and builders such as Rossi Residencial SA (RSID3) sell off less profitable homes ahead of more lucrative sales.

9/1/2014 7:34:02 PM

Several factors explain why they make up just 4.2 percent of U.S. agents and brokers.

9/1/2014 9:05:14 PM

Research and Markets has announced the addition of the "Real Estate Finance & Investment Review 2014/15" book to

9/2/2014 4:43:00 AM

For other observers a downturn in China's once red-hot property market poses one of the greatest threats to the economy, the world's second biggest.

8/31/2014 4:42:01 PM

Wheeler Real Estate Investment Trust, Inc. , a company specializing in owning, acquiring, financing, developing, renovating, leasing and m

9/2/2014 6:30:00 AM

Pilot Oliver Frascona, his girlfriend and her three children were identified Monday as the victims in the Erie plane crash that killed all on board. Frascona, a prominent Erie real estate lawyer, was flying with 41-year-old Tori Rains-Wedan and her three children, according to the Weld County Coroner.

9/2/2014 7:24:08 AM

The Zacks Analyst Blog Highlights: Apollo Commercial Real Estate Finance, Altisource Portfolio Solutions, New Residential Investment, CBS and Viacom

9/2/2014 6:18:03 AM

CHICAGO, Sept. 2, 2014 /PRNewswire/ -- Realtors® who use professional real estate photographs sell listed homes 32 percent faster than all other listings, according to a new study of Chicago-area real estate sales by VHT Studios, the nation's largest real estate photography network for homes and businesses. VHT Studios' analysis aligns with industry research indicating when a home is ...

9/2/2014 4:00:00 AM

Imagine you're in the market for a standalone house within an easy stroll of the Atlanta Beltline. You like porches and legitimate backyards that aren't huge. You've got about $450,000 to spend, which would have gone quite far a...

9/2/2014 7:36:36 AM

Real Estate Deathmatch pits two homes from the same neighborhood/town against each other. We arm you with the facts and you imagine you have the money to purchase one or the other (come on, play along). Which would you buy?...

9/2/2014 4:47:20 AM


 


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