How to Work with Your Realtor and Lender Effectively
When you’re buying a home, you want the process to go as smoothly as possible. To make that happen, you need to work with your Realtor and lender ef...Oct 9, 2019
Mortgage
Welcome Home | a blog by the Pujals Team
How Quickly Can I Get a Mortgage?
You’ve found the home of your dreams and are ready to make an offer, but you’re wondering, “How quickly can I get a mortgage? Will I potenti...Jul 30, 2019
The Pros and Cons of Down Payment Assistance Programs
Saving a down payment for a home is a big financial commitment. This is especially true if your goal is to save 20% of the purchase price. As such, ma...Jun 4, 2019
Is a Home Inspection Required for a Mortgage Approval?
When you’re buying a home and going through the mortgage approval process, there are many things you must do; but is getting a home inspection one o...Apr 23, 2019
What NOT to do When Applying for a Mortgage
When you’re applying for a mortgage, it’s easy to find lists of action steps to take. You check your credit, get your financial papers in order, a...Apr 2, 2019
What are the Closing Costs for Home Buyers?
When many people buy a home, especially first-time home buyers, they are often surprised at the amount of money they spend on closing costs. In fact, ...Feb 26, 2019
Applying for a Mortgage? Here’s Your Document Checklist
Applying for a mortgage requires a lot of paperwork and documentation. However, if you come to your lender with all the documents they are likely to n...Jan 22, 2019
How to Make Getting a Mortgage Less Stressful
A Special Report from The Pujals Team, Coldwell Banker Brokers of the Valley When it comes to life events, buying a home (and therefore getting a mor...Jan 11, 2019
Is a Mortgage Broker Your Best Choice?
When we work with buyers, one of the most common questions they ask is, “Who is the best mortgage broker to work with?” Our clients are usually su...Jan 1, 2019
Should You Get an Online Mortgage?
It seems that everything is online these days, from online shopping and food delivery to an online mortgage and doctor visit. This begs the question: ...Dec 18, 2018
Why Having a Mortgage Pre-Approval is Essential for Home Buyers
Many home buyers ask, “Do I really need a mortgage pre-approval before I start my home search?” The answer: YES! Whether you’re a first-time hom...Jul 24, 2018
Why Having a Mortgage Pre-Approval is Essential for Home Buyers
Many home buyers ask, “Do I really need a mortgage pre-approval before I start my home search?” The answer: YES! Whether you’re a first-time home buyer or have purchased multiple homes in the past, before you start your new home search, always get your mortgage pre-approval lined up first. Why? Imagine spending weeks viewing homes. Finally, after an exhaustive search, you find the perfect home that both you and your significant other agree on. Your imagination is going wild with how you’ll decorate it and the many family gatherings you’ll have there. You tell your family and friends about this amazing new home, and everyone is excited for you. You’re already planning the house warming party. But when you apply for financing, you learn that you don’t qualify for the mortgage. In fact, the home is more than $100,000 higher than what any lender will approve you for. Defeated and saddened, you begin the home search all over again. You can avoid this scenario when you make getting a mortgage pre-approval your first step in the home buying process. Mortgage Pre-Approval Versus Pre-Qualification Realize there’s a big difference between being pre-qualified and being pre-approved. Many home buyers think these terms are interchangeable, but they are not. Pre-qualification means you have supplied a lender with some basic information, such as your income, debts, and assets. You may have given the details via phone or on an online form. Everything is based solel...Jul 24, 2018
How to Combat Disappointment When Buying a Home
While buying a home is definitely an exciting experience, it can also be laced with disappointment. In fact, most home buyers have a story about “the one that got away” … about the one house they fell in love with but didn’t get. Perhaps the sellers took a higher offer, maybe the buyers’ financing fell through, or perhaps the home inspection turned up too many things to fix. No matter the reason, losing what seemed like the perfect home is difficult for many home buyers. Following are some tips for avoiding heartache when buying a home. Timing is everything. If you tour a home and truly believe this is the house for you, then be prepared to act quickly. Have your pre-approval already lined up before you look at homes. In our current seller’s market, there’s simply no time to “wait and see” or “think it over.” Get your offer in quickly before competing offers have time to roll in. Keep your emotions in check. Obsessing over “the one that got away” never works in relationships and it doesn’t work when buying a home No matter how much emotion you feel toward a home, remember that in the end this is a business transaction. So if something doesn’t work out, you need to move on. Ramp up your home search. If the house you want can’t be yours, don’t sit home and pout. Get out there and tour more houses for sale. That’s the surest way to overcome the home buyer blues. And, chances are you’ll find an even better hom...Sep 4, 2018
Buying a Napa Valley Home? You Need a Realtor!
Whether you’re buying your first Napa Valley home or have gone through the home buying process many times, you need a Realtor early in the process rather than later. In fact, anyone who has bought or sold a Napa Valley home will tell you that the real estate market here is very competitive. For home buyers, this means that having a licensed Realtor working for you will make the home buying process much less stressful. It will also increase your chance of getting your dream home. Following are the key benefits of working with a Realtor when searching for your perfect Napa Valley home. 1. Knows the area and can help you locate homes that meet your criteria. Why spend hours scanning online home listings only to learn that the homes you want to see are already sold? Chances are you have better things to do with your time. Instead, you can rely on your Realtor’s breadth of knowledge and have them give you the “short list” of homes that are currently available and that best meet your criteria. 2. Helps you craft the perfect offer. Because the market is so competitive, you may get only one chance to submit your best offer. Multiple offers on a property are common, which means sellers have little motivation to do counteroffers. Your real estate agent can help you structure your offer so it has the highest chance of being accepted. 3. Coordinates the many aspects of the sale for you. Once your offer is accepted, there are multiple people and tasks to coordinate...Sep 18, 2018
What to Look for When Choosing a Napa Valley Real Estate Agent
When you’re buying a Napa Valley home, you want to work with an experienced Napa Valley real estate agent. You want someone who will work with your best interests in mind, who knows the area well, and who has great negotiation skills. But how do you find this person? Following are questions to ask any potential Napa Valley real estate agent. 1. How many buyers and sellers do you represent per year? Rather than focus on how long someone has been in real estate, find out how many clients they work with each year. Just because someone is a newer agent shouldn’t be a reason to rule them out. If they come from a strong sales background and/or are being mentored by a long-term Napa Valley real estate agent, they can bring many positive attributes to the table. 2. How long have you lived in Napa Valley? If someone has been a real estate agent for 20 years but has lived in Napa Valley for only 1 year, that may be a reason for concern. Ideally your agent will be a long-time resident who knows the area well and has tracked the local market trends over the years. 3. Do you have a team, or do you work alone? While many solo agents are excellent, there’s no denying the power of teamwork. Agents who are part of a team have the benefit of collaboration. They can often give their clients better response times and they usually work together to problem solve. 4. What is your schedule? Ideally you want a full-time real estate agent. If they're not a full-time ...Sep 25, 2018
Realtor vs. Real Estate Agent – What’s the Difference?
When people talk about real estate, they often use the terms “Realtor” and “Real Estate Agent” interchangeably. But the two designations are actually different. Here’s what you need to know to ensure you’re working with the best professional for your needs. First, let’s start with the most common term: Real Estate Agent. A Real Estate Agent is someone who has passed the required real estate classes and licensing exams in the state where they intend to work. This is how most real estate professionals begin their career. All Real Estate Agents must work under a licensed Broker. What is a Broker? A Broker is someone who has taken real estate classes beyond the agent level. They have also passed a broker’s licensing exam. Real Estate Brokers can work as independent agents or have other agents working for them. Agents who have passed the broker exam, but who choose to work under another Broker, are typically called a Real Estate Associate Broker. As you’d expect, the Broker title comes with a lot more responsibility than an agent designation. Brokers are charged with handling the earnest money and depositing and establishing the escrow account. They also oversee the actions of the Real Estate Agents under their supervision. The Facts About a Realtor Finally, a Realtor® is a Real Estate Agent who is also a member of the National Association of Realtors (NAR). To become a member of the NAR, a real estate professional must agree to abide by the association's ...Oct 16, 2018
Make the Most of Your Next Open House Visit
Open houses are a staple in the real estate industry. Unfortunately, many home buyers aren’t sure how to approach an open house. If you’re just starting your home search, it’s okay to take a more casual approach to open houses. Go inside, look around, dream a little, and consider the possibilities. Discover what you like and don’t like in a home. After all, you don’t know what the various price points offer unless you look for yourself. However, maybe you’re a bit more serious about your home search and are ready to buy now. If so, then you need to take a more strategic approach to an open house. Why? Quite simply, there’s no guarantee how long any home will stay on the market. This one open house visit may be your only opportunity to view the home before it is no longer available. Therefore, be sure you do the following three things to make the most of your open house visit. 1. Really look at the house. If the house interests you at all, be sure you are taking the time to look at it. Open closet doors, check the ceilings, peek behind furniture, and take measurements. I realize it may feel strange looking through a stranger’s closet or peering behind their shower curtain. But this may be your only time to see the home before you make an offer. Be sure you explore every nook and cranny. 2. Take note of the neighborhood. Loving the neighborhood is just as important as loving the home. As you drive up to the home, look at the other houses. Are they of ...Oct 23, 2018
Don’t Overpay for Your New Home
You work hard for your money, so you definitely don’t want to overpay when you’re buying a new home. In fact, the number one fear we hear from home buyers, especially first-time buyers, is that they might overpay for their new home. Before you put in an offer on any home, make sure you’re following these three key points: 1. First, make sure you are working with your own real estate agent who is representing you as a buyer. While it may seem convenient to work directly with the seller’s Realtor, realize that the seller’s agent is already contracted to work for the seller, not the buyer. Get your own agent to work 100% for you. This alone can help ensure you don’t overpay for your new home. 2. Next, use multiple tools to determine a home’s value. In addition to the comparable sales reports your agent will research for you, do your own research on home values. When you do, make sure you are comparing apples to apples. Find homes in your exact neighborhood that are similar in size, age, number of rooms, and extra features. Also, look at sold listings, not active listings. And if you use online home value estimators, realize that they are not always accurate. Therefore, use them as loose guidelines only and don’t get fixated on one high or low number. 3. Finally, stay in control of your emotions. Buying a home is an exciting and an emotional experience. So it’s easy to get sucked into a bidding war. Set your price limit for the home and be prepared t...Dec 4, 2018
Don’t Downsize Your Home – Right Size Your Life!
While many people choose to upsize their home, a good number contact us because it’s time to downsize. Downsizing from a large home to a smaller one is a fact of life for many people, especially older adults and empty-nesters. And making this transition can trigger many emotions, including sadness, grief, stress, or anxiety A much more positive way to look at downsizing is to think of it as “right sizing.” When you’re right sizing, you’re making a positive change in your life. Whether you’re changing your relationships, your financial situation, your personal appearance, or even your home, making a decision to right size some aspect of your life means you are putting yourself and your needs first. It’s about honoring what’s best for you so you can live your best life. To adopt this right sizing mindset when it's time to downsize, you simply need to focus on the many benefits of moving to a smaller or different type of space. How to Reframe the Need to Downsize First, if you’re downsizing from a two-story home to a one-story home for health or age-related reasons, realize that this smaller, one-level environment will be much safer for you. Did you know that falling down the stairs is the leading cause of injury among older adults? Removing that risk from your environment will give you and your family great peace of mind. Second, downsizing into a condo, townhome, or similar attached living kind of space will reduce the amount of yard work and e...Jan 15, 2019
Home Buying Etiquette: 4 Things to Avoid on a Property Tour
For most home buyers, the most exciting and fun part of the experience is going on a property tour. This is when you get to imagine yourself in the home, explore new neighborhoods, and maybe even get some decorating ideas. But before you go walking through other people’s homes, be aware of some property tour etiquette tips. 1. Don’t Bring an Entourage – Of course, anyone who will be living in the home should attend the property tour. You may even opt to bring one close friend to help you. However, avoid bringing everyone in your extended family or all the members of your book club with you. Having too many people with you will distract you and cause unnecessary wear on the property. 2. Don’t Bring in Food and Beverages – Most sellers meticulously clean, prep, and stage their home when it’s for sale. The last thing you want is to be the person who spills coffee on the white carpet or whose child wipes their chocolate smeared hands on the walls. No matter how careful you are when eating or drinking, leave the food and beverages in the car. 3. Don’t Live Stream Your Tour – While it’s perfectly fine to take a few photos so you can remember the features of each house you view, don’t live stream your property tour or post any pictures you take publicly on social media. Remember, this isn’t your house (yet!), and you may be violating the privacy and security of the current homeowner. Wait until the home is yours to post photos and videos. 4. Don’t...Jan 29, 2019
Top 3 Things A First-Time Home Buyer Should Know
At The Pujals Team, we love working with a first-time home buyer. It’s exciting to help someone fulfill one of their life goals. Home ownership is a big undertaking and a giant step for most, which is why we enjoy giving advice and helping people through the process. If you’re a first-time home buyer, here are three key pieces of advice you need to know before you start your home search. 1. Be Ready to Buy Looking at houses is certainly fun. And as a first-time home buyer, you should definitely look at a lot of homes. After all, that’s the only way you’ll discover what you like and don’t like in a home. Touring homes in different areas also helps you understand how far your money can go in various neighborhoods. When you secure the services of a buyer’s agent, though, you should be ready to buy. That home you fall in love with today may be sold by tomorrow. So be ready to act. 2. Know Your Budget If you’re working with a buyer’s agent, you should already have your lender’s pre-approval in hand. Remember, though, that just because you got approved for a certain amount doesn’t mean you have to spend that much on a home. Take into account all the costs of home ownership, as well as what money you need to live comfortably. The last thing you want is to feel financially strapped each month. 3. Don’t Talk to the Listing Agent The listing agent is certainly a nice person. However, you hired a buyer’s agent to represent you, and the seller hired a lis...Mar 12, 2019
10 Real Estate Terms Every Buyer and Seller Should Know
A Special Report from The Pujals Team, Coldwell Banker Brokers of the Valley When you’re buying or selling a home, you’re sure to hear many real estate terms that may be unfamiliar to you. Not knowing the real estate lingo is common and nothing to be embarrassed about. Since you don’t live and breathe real estate day in and day out, there’s really no need for you to know the exact terminology. However, when you find yourself in the role of home buyer or home seller, being up-to-speed with real estate terminology can be helpful and make the process feel less stressful. Following are the top ten real estate terms you’re most likely to hear during the transaction. 10 Common Real Estate Terms 1. Appraisal The estimated value of a property based on a qualified appraiser’s written analysis. Banks typically require appraisals before issuing loans to ensure the estimated value of the property adequately exceeds the amount borrowed. 2. Buyer’s Agent A licensed real estate agent who represents the interests of the home buyer during the transaction. The buyer's agent has authority to act on behalf of the buyer in negotiating a purchase and sale agreement with the seller's agent. 3. Closing Costs Fees associated with completing the real estate transaction. Some fees are paid by the seller and some are paid by the buyer. Closing fees can include such things as credit report fees, document preparation fees, deed recording fees, appraisal fees, real estate fees, e...Apr 10, 2019
Whether Buying or Selling a Home, Always Work with a Real Estate Agent
A Special Report from The Pujals Team, Coldwell Banker Brokers of the Valley Being a do-it-yourselfer is great for many things, but not when it comes to real estate. The fact is that both selling and buying a home can be time-consuming, frustrating, emotional, and confusing. Thinking you can do it yourself may sound great in theory, but when it comes down to it, most people who sell or buy on their own end up selling for less than they could have, paying more for their new home, and taking a lot more time to complete the transaction. Realize that real estate agents do much more than unlock doors. They provide valuable services that make the home buying and selling process easier. Following are the top 7 reasons why you should always work with a real estate agent. 1. If you’re a seller, your home will be on the MLS. According to research from the National Association of Realtors, 93% of buyers find their new home by searching the Multiple Listing Service, which are listings only Realtors can obtain. That means only 7% of buyers are relying on local ads or calling phone numbers on yard signs. If you opt to sell on your own (do a For Sale by Owner - FSBO) versus have a Realtor represent you, you’re missing out on a huge base of prospective buyers. 2. Your real estate agent knows how to price and market a home. Setting the right price for a home and then marketing that home to sell fast takes skill and resources. Because your agent lives and breathes real estate, they...May 9, 2019
5 Tips for Home Buyers
A Special Report for Home Buyers from The Pujals Team, Coldwell Banker Brokers of the Valley Buying a home has always been the cornerstone of the American dream. The white picket fence …. The large yard …. The pride of home ownership … It’s one of the underlying human desires that unite us. Over the years, we at The Pujals Team have helped thousands of buyers find the home of their dreams. And one thing we’ve observed is that many home buyers enter the process filled with questions and in need of a step-by-step plan on how to proceed. Even though technology has certainly made it easier to see homes that are for sale, the sheer volume of options is often overwhelming. As a result, many home buyers find the process stressful. Our goal is to change that! Undoubtedly, buying a home is one of the biggest purchases most people will ever make. Knowing this, it’s important that you take the right approach to the home buying process. Following are the top 5 tips for making the home buying process easier. Get pre-approved before you start your home search Whether you’re a first-time home buyer or have purchased multiple homes in the past, before you start your new home search, always get your mortgage pre-approval lined up first. Realize there’s a big difference between being pre-qualified and being pre-approved. Many home buyers think these terms are interchangeable, but they are not. Pre-qualification means you have supplied a lender with some ba...Aug 14, 2019
Create a Realistic Wish List for Your New Home
What do you want in your new home? Now, think about what you need in your new home. Those two things can sometimes be very different. If you want to find the perfect home within your budget, you’ll definitely want to create a wish list for your new home. But before you start writing everything you can think of (a pool … a man cave …. a vineyard …. and so on) take the time to organize your list into three distinct columns: Needs, Wants, and Wishes. Here are ideas of what to include in each. Your New Home Needs Needs are features or amenities you must have. For example, if you have two children (one boy and one girl) you need to have at least three bedrooms – one for you and one for each child. Or if you work from home full time, having a closed off space for an office might be a need. Think of needs as those things you must have to live your life day to day. Your New Home Wants Wants are features and amenities that are not must have items, but they are key factors in your decision-making process. For example, you may need three bedrooms to accommodate the members of your family. But perhaps you want four bedrooms to accommodate a guest room. Or maybe you need to live within 30 minutes of work. But you want to live in one a certain neighborhood. Having a want met would be ideal, but it’s not a deal breaker. Your New Home Wishes Wishes are features or amenities that will help define the gap between the home of your dreams and the home you can afford. In othe...Dec 3, 2019