Lake Lure Blog
Here we are, Spring in the Mountains of 2014. Tulips and Daffodils are coming up, trees are starting to bud, and the grass is turning green. But, Winter is about to have it's last hooray, we are going to get cold starting tonight, March 23. On Tuesday, March 25th it is suppose to snow! I just hope it doesn't kill our apple crop like it did a couple of years ago when the apple trees were in full bloom. I am so ready for Spring this year! It seems like Winter has been so long. I'm just glad I live where I do! We have 4 seasons and just when you get tired of one the next one comes along. We are so blessed. Our Winter is very mild compared to, say OH or other Northern States. They have had it very hard this year. Which brings me to this, come on down Northern people, you will love it here,taxes are lower, and not to hot or to cold, it's just right here in our beautiful Mountains of NC! We have some great houses just waiting for you to get here. Hurry on down!
As of July 1, I will become an independent Owner/Broker/Realtor. My husband has been encouraging me to try this, so here we go. I was with Keller Williams for 7 yrs and have loved being with this company. It is the #1 Real Estate Company in the US. They have tons of classes and the agents are great! But, the best part of Keller is their culture. I will take that with me as I go on my way. They have taught me what being an ethical, hard working, honest real estate agent is all about and I am so thankful for my time at Keller. Thank you Keller and all the agents around the US and now international but especially the agents at Keller Williams Realty Mountain Partners.
My new name is Sylvan Properties (because of the beautiful woody area we live in). It is a little scary but exciting too. We shall see what the future brings.
Today we have a sunny day with Carolina Blue Skies. This weekend promises warm sunny weather to last though the week. The trees are just starting to get their blooms and buds, it has still been to chilly at night for them to come out in full bloom. How glorious it will be when we have beautiful cherry, dogwood and redbuds in all their glory! I can hardly wait!
When you find the right home you will have confidence that it will close in a short period of time. Pre-approval increases your bargaining and negotiating power. Sellers will be more likely to accept your offer if they know you have the financial means to follow through with the offer to purchase.
During this process you must determine how much money will be needed for the down payment. A traditional loan now requires 5%-20% down. FHA loans require 3.5% down. This down payment amount must be secured before the final loan approval. Lenders are now requiring borrowers to validate credit worthiness up to the hour prior to the loan closing! Your debt-to-income-ratio will be determined. This compares the amount you pay towards your debts each month relative to you total income. You must have income to be approved for a mortgage secured by the property being purchased.
You will only be considering properties that meet your maximum loan amount. This allows you and your broker to focus only on properties in your budget.