Every industry has their own language.  There terms they throw around like everyone knows what they're talking about but no one outside the industry really does.  In most cases it's okay.  I don't need to know what a faucet aerator or a backflow valve are as long as my plumbing works.  But in Real Estate, it's your money and your home we're talking about, so a little education can go a long way. There are a LOT of Real Estate terms, so I'll break them down by category.  Here are a few pre-house hunting terms to get you started. Realtor  (Pronouced Reel-tor) According to the National Association of Realtors, " REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics." In reality, a Realtor is someone who sells your home in record time, finds your dream home and solves problems you never knew exi...

Every industry has their own language.  There terms they throw around like everyone knows what they're talking about but no one outside the industry really does.  In most cases it's okay.  I don't need to know what megabits and RAM are as long as my computer works.  But in Real Estate, it's your money and your home we're talking about, so a little education can go a long way. There are a LOT of Real Estate terms, so I'll break them down by category.  Here are a few pre-house hunting terms to get you started. Realtor  (Pronouced Reel-tor) According to the National Association of Realtors, " REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics." In reality, a Realtor is someone who sells your home in record time, finds your dream home and solves problems you never knew existed! Pre-qualificati...

We're talking next steps in the buying process.  Last week I shared about the first steps after your offer is accepted.  By now you've gotten you earnest money to your agent, heard from your lender on their next steps and scheduled your inspection.  Your lender and closing agent are doing the heavy lifting right now and they, along with your agent, will lead you every step of the way.  In addition to following their instructions, you've got a few jobs. 1.  Get an insurance quote Your lender should have given you some directives on this by now, but don't forget.  Make sure to call around to compare rates and coverage.  Check if they offer a multi-line discount, it may be worth changing your car insurance to get better rates on your homeowner's policy, too. 2.  Maintain your credit Yes, we talked about this last week, but it warrants repeating.  Curb your spending and don't take on any new debt that could jeopardize your ...

So you want to buy a house.  You know what you need to do.  Make sure your credit is up to snuff.  Consult with a Mortgage Broker and figure out your budget.  Determine your criteria for your new home and prioritize them.  Find a Realtor (me, obviously!).  And start house hunting! What you may not think about is what NOT to do.  Many buyers don't realize their lender will recheck credit scores just a few days before closing, so even after you're approved and headed toward the closing table, it's important to watch anything that could affect the closing.  Here are a few things to keep in mind to keep your credit at its best and get you all the way to home ownership. 1. Don't change jobs Something even I didn't realize when buying our last house is that commission, bonuses and overtime can't be included in your salary figures unless you have two years of records showing you consistently earn those extras.  So don't quit your job, change jo...