2009 Color Trends July 4, 2008

WHAT YOUR HOUSE SHOULD WEAR IN 2009

2008 Color Trends

Liven up your listings using bold, vivid colors mixed with some earthy, natural tones. Paint, furnishings, and accessories are influenced by the natural environment. A few contrasting accents colors will have buyers taking notice.

Bring nature home.

Capturing the colors of the natural world is gaining traction this year with handmade, undyed, and unbleached materials. Off-white, sandy, and linen colors mixed with rock and soil colors and brownish greens are calling nature inside.

Blue hues.

The environment also is inspiring sky and water blues to come inside, even in livening up the kitchen. Be on the lookout in 2009: A deep navy blue that appears almost black and is inspired by the techno world will pop up in more homes.

Ethnic accents.

Color scheme influences from India, China, and Latin America will be evident this year. Expect Moroccan reds and glowing oranges to mix with rosy pinks, sunny golden yellows, and turquoise. For the ultimate color punch, pair them with rich browns and neutrals.

Subdue the shine.

Shimmery metallic finishes are still in, but chrome and nickel are starting to be replaced by softer shades. More homes are being outfitted with copper and bronze tones and bringing more warmth to metallic finishes.

Source: Color Marketing Group, an international association of color design professionals, which reports on color trends every year.

Tips on Financing June 24, 2008

Financing Your Home      

Most real estate professionals and mortgage lenders recommend pre-qualifying for a loan before selecting a home to purchase. This process will help you:

• Determine the price range you can afford.
• Understand the types of loans you qualify for.
• Determine what your monthly payment will be.
• Estimate the downpayment and closing costs.

The Loan Process

Try pre-qualifying for a mortgage with our in house lender(call agent for more info) or let your REALTOR® help you to select a mortgage lender. Once you have made your decision, these are the steps of the process:

• Application – All pertinent documentation is obtained. Fees and down payments are discussed, and the borrower will receive a Good Faith Estimate (GFE) and a Truth-in-lending statement (TIL), itemizing the rates and associated costs for the loan.
• Documentation – If not already completed in the pre-qualification stage, your REALTOR® will order all necessary supporting documentation. Once inspections are completed, your Associate will order an appraisal on the property. As it comes in, documentation is checked for any irregularities.
• Loan Submission – Once all the necessary documentation is in, your completed file is submitted to a lender for approval. 
• Loan Approval/Underwriting – Loan approval, or underwriting, generally takes 24 to 72 hours. All parties are notified of the approval and any loan conditions that must be received before the loan can close. 
• Closing – Once all parties have signed the loan documents, they are returned to the lender. If all the forms have been properly executed, the lender sends the loan funds by wire transfer. At this point, the borrower finishes the loan process and actually buys the house.

FIRST TIME HOME BUYERS June 24, 2008

First Time Buyers

Congratulations! You are first time buyer. Welcome to your home buying guide. Here are a few things to bear in mind when considering this important step in your life:

• Deposit: The first thing to be aware of is that most lenders will look favorably on you having a cash deposit to put down on a property. This deposit can range from 5-15% of the purchase price. If you were buying a property for $300,000, an expected deposit would range from $15,000-$35,000. In certain cases, a lower or higher down payment may be necessary.
• Find a REALTOR®: Don’t buy a home without one. Besides helping you find the home of your dreams, a REALTOR® assists you with every aspect of your homebuying experience. From appraisals to inspections, contracts to disclosures, questions and concerns, our sales professional are experts in the industry and are eager to help you every step of the way.
• Credit Score: As a first time buyer, your credit score will be used to determine your loan and interest rate options. Credit scores range from 340 to 820. The higher your credit score, the better your loan and interest rate options will be. Guarantee Pacific Mortgage, our in-house lender, specializes in helping first time buyers and can provide you with financial assistance you’ll need to purchase your first home.
• Mortgage Payments: Make sure you know what your interest rate is. Many first time buyers go for a fixed rate so they know exactly how much their total mortgage each month.
• Bills: Buying and maintaining a property is not just about keeping up with the mortgage payments; it is also about paying your bills. Besides your mortgage payment, you will be responsible for gas, electric, water, and sewage bills, not to mention other household amenities (i.e. telephone, television and internet bills). Plan in advance for these costs to make sure you can afford to pay them each month.
• The Rewards: Once you have bought your first home, you can enjoy the benefits of freedom and independence. You will soon discover that it is the best thing you ever did, not just in terms of doing as you please, but also that financially you have made a start in paying back the biggest investment of your life. With property prices seen to be rising higher in the coming years make no mistake that your home will become your most valuable possession. Congratulations and enjoy your new home!