George's Blog

Well, the Holidays are over and it is time for all of us to start making things happen. For REALTORS(r) and Mortgage people, it is time to start contacting those prospective clients who have been too distracted during the frentic holiday season.

For Homebuyers, it is time to get pre-approved for a loan, if you have not done so already. This is critical for getting your offer successfully accepted by a seller. Pre-approval means that you have made a formal loan application to a mortgage broker or banker, and have received an actual underwriting determination in writing, subject to an appraisal and preliminary title report. This is important because this process will flush out any weaknesses in your application that will need to be addressed; and it is better to get these things addressed and corrected before you are in contract with anxious sellers and agents, with the escrow clock ticking.

For Home Sellers it is time to start getting serious about finding out about the value of your home in this market; how much (if any) you can expect to net out from the sale; what has to be done to your property to "stage" it so it will show well; and how much of a property you can afford to buy to move up. You will need to speak with an experienced REALTOR(R) you may know or can be referred to to get a CMA (comparative market analysis) done on your property to go about this in an organized and methodical manner.  You'll want to have plenty of lead time to be ready to have your home on the market for the rapidly approaching "Spring Buying Season" which starts after Valentine's Day.

If you are a homeowner thinking about refinancing, the time to do it is ideally within the next 30-60 days, because historically the rates go up in the springtime, especially if the economy is perceived to be improving. I'm available to discuss all these alternatives, and answer any questions about them that you may have. Let's get this year off to a good start!