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      What home buyers should know

      The slight housing slump has caused many new home buyers to emerge onto the home buying front and there are many things that potential buyers should know or understand. The larger the down payment a person has typically the easier it will be to secure a new home loan in todays market. You can still secure a home loan with smaller down payments; however, you will have to have a good credit score and verifiable income or assets. Mortgage rates for Asheville home buyers are at an all time low along with home prices here in the Asheville North Carolina area so this really is a buyers market if you need a new home.

      Get pre-approved for a mortgage

      In this somewhat volatile housing market it is even more important that a potential home buyer get pre-approved for a mortgage from a mortgage broker or lender, with a commitment to fund your mortgage in writing. Ask about frequent payment options and prepayment options as this could help knock years off of your loan. And finally, do not try to buy more house than you can afford. Try to settle for a home mortgage payment that you can live with and then start shopping for a home in your price range.
      Asheville Homes for Sale

      Asheville Homes for Sale

      Location, location and location

      You will want to carefully consider neighborhoods and developments when searching for that next home. Your broker or agent can perform a comparative market analysis for you to determine if home prices are falling in areas and how long homes stay on the market in certain areas. Many home buyers are thinking about resale values when and if they sell the home and move on. School districts can also be important as many families will choose homes in what they deem are better school district areas. Lenders will also be taking a close look at the area you are choosing as they want to protect their investment as you are paying off that new bank loan or mortgage.

      Your real estate agent is working for you

      Once your broker knows the price range that you have been approved for they can start searching for all properties that fit your criteria. Brokers can email you listings so that you can go through them and perform drive bys prior to setting up actual showings. Remember, the more your agent knows about the home type, style, area and size the more able they are to find you that perfect property. Call Green Mountain Realty at 828.215.9064 for homes, land and real estate here in Asheville.