Buying?
Buying a home can seem as difficult as learning a foreign language. How much home can I afford and what’s my LTV? What’s the difference between APR and interest rate? What’s the difference between an ARM and a FRM? What does ‘locking a rate’ mean?!? What’s a SFH? Is there a difference between Patio Homes and Townhomes? Is a cul-de-sac lot really worth more money? Should I buy a newly constructed home, or would an existing home be better? Are gated communities “better” somehow? What in the world does “3BR,2BA,LV,DN,FM+bonus” mean anyway?
There are literally hundreds of questions to sort through as part of the buying process. Read on to find answers to all your questions and feel free to contact us with any additional questions.
Documents and Articles
What’s a Short Sale? …What’s an REO? …Is either of those a foreclosure home?
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5 things to do BEFORE you buy a home. A great primer as you prepare to buy.
Consumer Bill of Rights. The Arizona Department of Real Estate put out some great information all buyers should be aware of. (edited June 2010 – ADRE website states the document is temporarily unavailable while it’s being edited. Instead, buyers might find this list of links from ADRE helpful: “Topics to Research Before Purchasing Real Estate”)
This is the online version of the Arizona Department of Real Estate’s Buyer Advisory
Trying to estimate your monthly mortgage payments? Email us (ChrisB@ThePhoenixAgents.com) for a nifty spreadsheet that automagically calculates your monthly payment down to the penny. Plus you can use our spreadsheet to estimate your home insurance costs, property taxes, HOA fees and even monthly utility bills!
See also The Phoenix Agents’ Moving page where you can check crime stats, see school rankings, etc.
Moving Advice
Even More Interesting Articles
The Truth about Arizona Termites
5 Criteria to consider when buying a home
How many houses should I see before making an offer?
10-Day Inspection Period covers more than just the home
