Tip #1: Using Marco's Research Tools Is The Key To Discovery

Marco's website platform has excellent tools and information to assist you in your discovery. Using Marco's property search tool is the first step to identifying neighborhoods with properties that match your purchasing needs. The next is to create a Property Watch account where you can collect your findings (saved neighborhood searches and favorite listings) and view any documents Marco makes available to you online. Only by reading available materials, talking to friends and experts, and spending time looking at different homes, schools, and neighborhoods will you end up with your American dream.

Tip #2: Make An Appointment With Marco To Get Pre-Qualified

Developing a home buying plan can help you focus on the important factors and organize the entire process. If needed Marco can help you organize a binder with sections on house hunting, home financing, service providers, etc. Loan pre-qualifying helps you determine the home price you can afford and presents you as a genuine prospect to the seller. A lender typically uses the 28% formula (your monthly mortgage can't exceed 28% of your monthly income) in approving your loan. Planning your actions and getting pre-qualified will save both time and money!

Tip #3: Talk to Marco & Use His Property Search To Find Value

The days of 10-30% annual appreciation have passed. Homebuyers in the 1990's benefited tremendously from what seemed like ever appreciating home prices. Nowadays, you're looking at slow growth while guarding against the possibilities of falling prices, skyrocketing ARM rates and corporate layoffs that can dramatically affect your home values. The classic rule of buying the worst house in the best neighborhood still applies. Use Marco's advance map search, list your preferences (bedrooms, baths, lot description, interior features, etc) but don't enter a price, then draw a box around a neighborhood to view all the homes listed and compare the prices. If you buy with an eye towards improvement, you can make enhancements that is supported by the neighborhood values. The saying, "make money buying a home, not selling one," should keep you focused on the long-term importance of the purchasing price.

Tip #4: Create A Top 10 List Of Amenities & Keep Notes Within Property Watch

When shopping for a home, list the features (fireplace, fenced-in yard, new appliances, etc.) that are most important to you in deciding on which home to buy. Establishing "your criteria" early on will save time shopping for inappropriate homes and may keep you from buying a home on a whim. As detailed in Tip #3, your top reason for buying a home should be the value you are getting. Some of your top 10 amenities should logically be sacrificed if an incredible value is available. Using the favorites tool in Property Watch will help organize your thoughts on properties you've seen as well as having them easy to find online. Just go to www.marcodrealtor.com and login to view your information.

Tip #5: Fixed vs. Adjustable Rate Mortgages

As market conditions change Marco can help determine which mortage program(s) to consider. As mentioned in Tip #2, your prequalification will enable you to know what financing option(s) is/are available for you. Is this going be your first home or a "transitional home" -- or your opportunity for your dream home or one you plan to raise a family in, Marco and the lender can explain your financing options to best meet your needs.

Tip #6: Marco Says "Sign A Contract That Protects You"

He'll make sure that the contract you put on a house allows you to arrange financing, inspect the home and negotiate any problems that you uncover. Ensuring that the contract you sign will minimize potential legal battles, will let you use your driveway without the neighbor claiming that you're encroaching.

Tip #7: Put Yourself In The Seller's Shoes

Marco believes that if you take time to understand the reasons the seller bought the home, their reasons for selling, and the home improvements they have or have not made, you'll be in a better position to evaluate the home and negotiate a better deal. In the end, the home buying process excludes the professionals and comes down to the individuals buying and selling the home. A closer look at the seller may help you in deciding whether and for how much to buy a particular home.

Tip #8: Understand Your Mortgage Terms

Marco recommends that whichever loan you choose; make sure that you scrutinize all the closing costs. Marco will make sure you understand the terms and procedures if you are required to have a mortgage escrow account and private mortgage insurance. Also, make sure there are no prepayment penalties so that you can utilize an accelerated mortgage plan. A good mortgage reduction plan can save you tens of thousands in interest costs, and shorten your loan term, with only small extra principal payments. If you experience negative changes in your job, health, or marital status, you can revert to the standard payments in your mortgage contract.

Tip #9: Get A Quality Home Inspection

Although it is hard to believe, more people pay for inspections before buying used cars than when making the biggest investment of their lives - their homes. Paying for a qualified home inspection before you buy a home isn't just spending "a little extra" for peace of mind; it's absolutely essential for anyone who doesn't want to spend thousands of dollars for repairs. Marco believes a good inspector will not only discover needed repairs, but will also methodically educate you how to maintain all aspects of the structure.

Tip#10: Peace Of Mind: Home Protection Plans

To protect both you as a buyer, as well as the seller, Marco can help you assess the need to purchase a home protection plan.  What exactly is it? A home warranty, or home protection plan, is a service contract, normally for one year, which protects homeowners against the cost of unexpected repairs or replacement of their major systems and appliances that break down due to normal wear and tear. A negotiable contract between the buyers and sellers which does not overlap or replace homeowner's insurance policy, this type of warranty can save the new homeowner lots of headaches, as well as put seller's fears to rest. The warranty covers mechanical breakdowns, while insurance typically repairs the related damage. For example: if a hot water heater burst and destroyed a wall in your home, the warranty would repair the water heater and your insurance would pay to fix the wall.