Cedar Rapids Home Buyers Mistakes to Avoid!

Here is a question I recently received:

Q I'm applying for a mortgage and now my neighbor tells me I should not buy the car I've been considering.  Is that true?

A As a general rule, it is a good idea to avoid all major purchases before you close on a loan. Don't buy cars, appliances, furniture, or any big ticket item.  Don't lease a car. This is generally because a lender will pull your credit report before they make the loan.  Any major, new financial burden you incur can change your debt to income ratio.  If this happens you may no longer qualify for a Cedar Rapids home loan or the loan package will have to be changed to accommodate the new circumstances.
 By the way, be sure to make absolutely sure all your bills are paid on time before you close.  Unpaid bills can also change your profile with a lender since you become less credit worthy.

For all of your Cedar Rapids Real Estate needs give me a call.

Your Cedar Rapids Real Estate Agent for Life!
Rick Hernandez

Cedar Rapids Home Buyers should take advantage of the seasonal slow down.

One more day before Halloween here in Cedar Rapids and the winds have picked up, the leaves have mostly fallen and everyone is preparing their cedar rapids homes for the cold winter that will soon arrive.  My family and I are excited about taking our daughter out to do some trick-or-treating.  I am sure one of the things we will notice is the large number of homes that have been on the market  for sometime and still haven't sold.

I am often asked when is a good time to buy a Cedar Rapids home.  Well, if you can handle the move in colder temperatures the timing could never be better.  In fact, just before Thanksgiving everything will come to a complete stop for awhile.

Most sellers who have had their home on the markets for over 90 days are starting to get anxious.  Many may be willing to reduce their price if you are pre-approved with a Cedar Rapids lender and you don't have to sell anything.  They know that the market is slowing down very quickly and so they may be more motivated to sell.  Thats good news if you are a Cedar Rapids Home Buyer.

If you are pre-approved and can manage the move I can show you how to use the change in weather to your advantage.  Good deals are available if you know where to look and how to negotiate the deal properly.  I can show you how the best way to get this done.  I have helped many buyers this year alone and you can see many of their video testimonials on my website.  Feel free to give me a shout.

Give me a call,

Rick Hernandez

Your Cedar Rapids Real Estate "Go To" Guy!

When Dan and Lisa decided to sell their Cedar Rapids home to go abroad and be missionaries, they called me to help them.

My goal has been and will continue to be to serve the best interests of my clients.   When my clients are satisfied than I know I have done a good job.  Watch what Dan and Lisa had to say.

If you are looking to buy or sell Cedar Rapids Real Estate, shoot me at email at rick@bestiowahomes.com and I would be happy to assisst you.

Best,

Rick Hernandez
Your Cedar Rapids Real Estate "Go To" Guy!

 

 What is a Cedar Rapids REO?

 Occasionally Cedar Rapids Home buyers will look at a property listed as REO, a term that might be a bit puzzling.

REO stands for Real Estate Owned and refers to the inventory of real estate that banks and mortgage companies own as a result of foreclosure.

Since REO properties are those that the lender has taken back, they often have unique problems.  For one thing, such properties typically need repairs.  Owners who lose their homes usually go through a period when they can't afford even simple repairs.
For another thing, it can take some time to negotiate a deal for an Cedar Rapids REO. You can expect that after you make an offer, the response will take longer than normal. However, you might be able to find some good bargains on these properties and buying one can be worth the wait.

If you are interested in having access to list of Cedar Rapids Real Estate REO properties shoot me an email at rick@bestiowahomes.com and I can help you out. 

Rick Hernandez
Your Cedar Rapids Real Estate "Go To" Guy!