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        <title>Real Estate Blog</title>
        <link>http://www.mysantacruzrealestate.com/blog/first-time-home-buying/</link>
        <description></description>
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            <guid>http://www.mysantacruzrealestate.com/blog/check-out-the-attic-in-your-santa-cruz-home.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/check-out-the-attic-in-your-santa-cruz-home.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>Check Out the Attic in Your Santa Cruz Home</title>
            <description> <![CDATA[ 
If you have easy access to your attic, a quick inspection will either put your mind at ease or alert you to situations that need to be remedied before they cause problems. Why is now a good time to check your attic? If you’ve ever been in an attic in the summer, you know why you should do it now.


Here are just some of the things you should check out in the attic of your Santa Cruz home:


• Insulation. Is it adequate? Has it shifted around into peaks and valleys? Is it properly installed? Are there gaps that need to be filled?• Ducts. Are there open joints in the ductwork? Are the ducts insulated?• Ventilation. Are vent openings blocked? If you see frost on roofing nails, or rust stains or mildew around roofing nails, it means the attic needs more ventilation.• Leaks. Do you see evidence of past or current roof leaks? Look for delaminating plywood or warped roofing boards. Check around the chimney and vent stacks to see if they need to be sealed where they penetrate the roof.• Vent stacks. Do they terminate in the attic? Ideally they should vent out above the roof. If they vent into the attic, they need to be capped with an air admittance valve (AAV).• Exhaust fans. Check to see where kitchen and bath fan ducts are. Do they vent into the attic? They should vent above the roof; otherwise they are adding excess humidity to the attic of your Santa Cruz home.• Electrical wiring. Are there open electrical junction boxes or makeshift wiring? These are a fire hazard and need to be addressed.• Structural problems. Check the rafters and trusses for cracked, broken or sagging members.


Once you do an inspection of your Santa Cruz home’s attic, you’ll feel like you really have a firm grasp of its integrity. You’ll be able to face any issues you find and prevent bigger problems in the future.


For more home maintenance tips like these view www.MySantaCruzRealEstate.com.


Links


Insulation


Ducts


Air admittance valve


 
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            <pubDate>Thu, 09 Feb 2012 01:01:00 -0800</pubDate>
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            <guid>http://www.mysantacruzrealestate.com/blog/resolution-for-2012-buy-a-santa-cruz-home.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/resolution-for-2012-buy-a-santa-cruz-home.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>Resolution for 2012: Buy a Santa Cruz Home</title>
            <description> <![CDATA[ 
As the new year starts, pursuing your dream of buying a Santa Cruz home may be on your list of resolutions. Prices and interest rates are extremely low, which means 2012 could be the perfect year to buy a home. As exciting as that is, I bet it can also feel a little overwhelming.


One of the best ways to attack a big goal is to break it down into smaller goals. So here are four smaller goals you can tackle to accomplish your larger goal of buying a home:


1) Prepare for battle: Before you begin looking for a house, look at your financial situation. Do what you can to clean up any credit blemishes, pay off debt and save toward a down payment.


2) Check your qualifications: There's no sense looking at million dollar mansions if that's not in your budget. Talk to a mortgage professional, or preferably several, to get an idea of what loan amount is available to you. Get preapproved for your mortgage so that you're ready to make an offer when you locate your perfect Santa Cruz home.


3) Build your army: Finding a real estate agent that you click with can make all the difference in navigating the home buying process successfully. He or she can save you tons of time by pointing out the advantages and disadvantages of neighborhoods and homes so that you only look at places that truly fit your needs.


4) Define your perfect space: It's worth spending some time considering which characteristics of a home are most important to you. Think about the neighborhood, school system, and commute times, along with basics like number of bedrooms and square footage.


Once you have a clear understanding of your financial situation, know what you're looking for, and have the help you need to find the perfect Santa Cruz home, you will be amazed at how much more prepared you feel to take the next steps in the process.


If you want to discuss more details on the home buying process, contact me today at 831.662.6522 or Lauren@LaurenSpencer.com.


Visit my website at www.MySantaCruzRealEstate.com for additional information.


Links:


Break it down into smaller goals


Credit blemishes


Preapproved for your mortgage
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            <pubDate>Fri, 27 Jan 2012 01:01:00 -0800</pubDate>
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            <guid>http://www.mysantacruzrealestate.com/blog/santa-cruz-real-estate-urban-legends.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/santa-cruz-real-estate-urban-legends.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>Santa Cruz Real Estate Urban Legends</title>
            <description> <![CDATA[ 
Urban legends can be found within every industry, and Santa Cruz real estate is no exception. Getting a big discount because a home needs minor repairs or being able to acquire 100 percent financing in a snap definitely isnt as easy as it sounds and is probably just what you think &mdash; a big fat myth.

Whether youre an experienced buyer or its your first time purchasing Santa Cruz real estate, do your research and dont get sidetracked by enticing fables that might cause you to miss out on your dream home. Below are three debunked mortgage urban legends that have been plaguing the industry for years. 

1.&nbsp;You can get a foreclosed home for almost nothing. While foreclosed homes do tend to sell consistently lower than other homes on the market, theyre not always a great deal. Banks are required to sell a property as close to fair market value as possible, and only drop the price in small increments after 60 to 90 days. Foreclosed homes are also usually in worse repair and banks are less likely to negotiate on them.

2.&nbsp;As a first-time homebuyer, its easy to get 100 percent financing. While some homebuyers might be nostalgic for the subprime mortgage era when anyone could obtain full financing &mdash; that just isnt the case any longer. While there is assistance out there, most first-time buyer programs require that you put down a certain amount.

3.&nbsp;A fixer-upper means a lowball offer. Gone are the days when just because a home needed a little cosmetic help you could make an incredibly low offer. Dont do it because youll get rejected, and the buyer wont take you seriously. 

The market may be down, but that doesnt mean youre going to walk away with a steal. Save your money, keep your credit score in check and dont fall prey to any of these common Santa Cruz real estate urban legends.&nbsp; 

If youre in the market for a new home or youd like to hear about more urban legends that buyers typically fall for, please call me at 831.662.6522 or email me at Lauren@LaurenSpencer.com for more information.

For additional information, please visit my website at www.MySantaCruzRealEstate.com.

Links:

First time purchasing Santa Cruz real estate 

Foreclosed homes

Lowball offer
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            <pubDate>Thu, 22 Dec 2011 23:01:00 -0800</pubDate>
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            <guid>http://www.mysantacruzrealestate.com/blog/how-to-beat-cash-buyers-when-purchasing-santa-cruz-homes-for-sale.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/how-to-beat-cash-buyers-when-purchasing-santa-cruz-homes-for-sale.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>How to Beat Cash Buyers when Purchasing Santa Cruz Homes for Sale</title>
            <description> <![CDATA[ 
In this economy, cash buyers have the advantage and are swooping in on great housing deals to beat out buyers obtaining loans through banks. Sellers are jumping on these offers because the cash is already secured, they dont have to worry about finances falling through at the last minute, and it can guarantee quick closing dates on their Santa Cruz homes for sale.

While dealing in ready money definitely gives real estate investors an advantage, dont get discouraged. There are a few guidelines financed buyers can follow to give them a better hand when it comes to beating out competitors that throw down the cash card.

&bull;&nbsp;Get pre-approved. Talk with a reputable bank and get a pre-approved home loan for a certain amount before you start shopping for Santa Cruz homes for sale. This will give you an idea of the maximum you can spend and ensure you have the funds to back up your bid.

&bull;&nbsp;Save for a large down payment. The more money you can put down up front, the more likely it is that you will sway the seller to accept your bid. This is especially true if the seller is a bank, because it wants to erase bad debt quickly.

&bull;&nbsp;Build a relationship. Cash investors usually have a good rapport with listing agents, and so should you. Figure out who the sellers agent is and introduce yourself, or have your real estate agent send greetings on your behalf. You should also be sure youve hired an agent who knows how to build beneficial relationships with buyers, sellers, other agents, and everyone involved in the home selling process. The more the sellers agent gets to know and trust you and your agent, the better chance you will have.

&bull;&nbsp;Seek out the sellers needs. Ask your real estate agent to try and find out if the seller has any special requirements, such as needing a shorter or longer closing period. If you offer to be thoughtful and flexible, you have more of a chance of beating out the cash buyer.

Dont let cash investors deter you from getting good deals on Santa Cruz homes for sale. Prepare, save, build a relationship and be flexible, and you might have a new house before you know it. 

Want to work with an agent who knows how to build beneficial relationships?&nbsp; Give me a call today at 831.662.6522 or email me at Lauren@LaurenSpencer.com.

For additional information please visit my website at www.MySantaCruzRealEstate.com.

Links:

Santa Cruz homes for sale

Pre-Approved Home Loan

Save for a Large Down Payment
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            <pubDate>Mon, 21 Nov 2011 23:01:00 -0800</pubDate>
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            <guid>http://www.mysantacruzrealestate.com/blog/how-to-avoid-paying-private-mortgage-insurance-on-your-santa-cruz-real-estate.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/how-to-avoid-paying-private-mortgage-insurance-on-your-santa-cruz-real-estate.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>How to Avoid Paying Private Mortgage Insurance on Your Santa Cruz Real Estate</title>
            <description> <![CDATA[ 
If you get a mortgage for more than 80% of your Santa Cruz real estates fair market value, your lender will require that you pay Private Mortgage Insurance (PMI). PMI payments are expensive at about 0.5% to 1% of the entire loan amount on an annual basis.

Obviously, it would be a good thing if you didnt have to pay PMI. To help you achieve that goal, here are several tips to avoid paying PMI on your Santa Cruz real estate:

&bull;&nbsp;Save for a big down payment: The easiest way to avoid PMI is to have a down payment of at least 20% of the value of the home you want to purchase. 

&bull;&nbsp;Borrow to get 20% down: Check with friends and family for down payment assistance. You can offer repayment with interest and still never pay as much as you would have to for PMI.

&bull;&nbsp;Get a Second Mortgage: Getting a second mortgage to cover the difference between your down payment on your first mortgage and the 20% threshold for your PMI can make a substantial difference in your monthly payments. Talk to a qualified mortgage professional to discuss your options. 

&bull;&nbsp;Pay More Interest: Some lenders will waive PMI if you agree to a higher interest rate. Again, discuss your options with a mortgage professional. 

&bull;&nbsp;Consider a Less Expensive Home: This goes back to being able to hit that 20% threshold. As we've all seen in this tough economy, stretching beyond your means can have dire consequences if your circumstances change. Consider if you really need that extra bedroom and extra expense. If you havent saved enough to afford an expensive home, downsize your expectations and buy within your means.

If youd like a referral to an outstanding mortgage professional or need help finding Santa Cruz real estate that fits your budget, give me a call today at 831.662.6522 or email me at Lauren@LaurenSpencer.com.

For additional information please visit my website at www.MySantaCruzRealEstate.com.

Links:

Private Mortgage Insurance

Avoid paying PMI

Second mortgage
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            <pubDate>Sat, 19 Nov 2011 23:01:00 -0800</pubDate>
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            <guid>http://www.mysantacruzrealestate.com/blog/renters-are-you-ready-to-buy-santa-cruz-real-estate-pros-and-cons-of-home-ownership.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/renters-are-you-ready-to-buy-santa-cruz-real-estate-pros-and-cons-of-home-ownership.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>Renters: Are You Ready to Buy Santa Cruz Real Estate? Pros and Cons of Home Ownership</title>
            <description> <![CDATA[ 
If you're sitting in your apartment right now thinking: I wish I could paint it, but my lease doesn't allow it, maybe it's time to talk to a Santa Cruz real estate agent about purchasing a new home.&nbsp; Before you rush off to the store to look at paint samples or, more importantly, sign on the dotted line of any mortgages, consider the pros and cons of buying. 

Pros

1.&nbsp;Financial Investment: Given the gloomy news on foreclosure rates across the country, it is easy to forget that buying Santa Cruz real estate is also a means of saving and investing.&nbsp; The money you pay in rent to your landlord goes to your landlord; the money you put toward a mortgage goes toward building equity in your home.

2.&nbsp;Pride of Ownership: By buying a home, you will be able to paint the interior walls any color, renovate to your heart's content, put nails in the walls and know that it is truly your territory. As a homeowner, you have a level of control over your environment that renters lack. 

3.&nbsp;Putting Down Roots: Purchasing Santa Cruz real estate is a commitment to a community, akin to staking a flag in the ground.&nbsp; You're not just passing through, if you own your own home.&nbsp; Most mortgages are 15 to 30 years.&nbsp; Certainly, you can sell before that time is up, but with closing and moving costs and an uncertain market, the era of flipping houses for fun and profit is at a close. Buying your first home may involve considerations on other long-term decisions such as where you want to raise your children.&nbsp;

Cons

1.&nbsp;Additional Expenses: Even if the mortgage you secure on your home is less than your current rent, home ownership comes with a lot of extra bills.&nbsp; You may not have considered the cost of yearly real estate taxes, insurance, repairs, and maintenance.&nbsp; If your water heater dies as a renter, your landlord is required to replace it.&nbsp; As a homeowner, you're looking at the time and expense of getting it replaced yourself. 

2.&nbsp;Less Flexibility: Rental leases often include provisions for leaving before the termination of the lease.&nbsp; So, if you've decide to accept a job offer in Paris, while you might lose some money in security deposits, you can sever your connection relatively easily. That's not the case with a mortgage.&nbsp; You are responsible for the payment on the mortgage whether you live in your home, rent it out while you're in Paris or leave it vacant. Buying Santa Cruz real estate is a serious, long-term commitment. 

3.&nbsp;Less Time: With most apartments, someone else is raking the leaves, shoveling the snow, mowing the lawn, and replacing that broken water heater.&nbsp; As a homeowner, those duties would fall to you or someone you hire to tend to those issues.&nbsp; Whether youre ready to stop renting and buy a home or you need more information before taking the plunge, I can help. Give me a call today at 831.662.6522 or email me at Lauren@LaurenSpencer.com.

For additional information please visit my website at www.MySantaCruzRealEstate.com.

Links:

Commitment to a community

Flipping houses&nbsp;

Home ownership comes with a lot of extra bills

&nbsp;

&nbsp;

&nbsp;
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            <pubDate>Sat, 22 Oct 2011 23:01:00 -0700</pubDate>
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            <guid>http://www.mysantacruzrealestate.com/blog/get-a-deal-on-luxury-santa-cruz-real-estate.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/get-a-deal-on-luxury-santa-cruz-real-estate.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>Get a Deal on Luxury Santa Cruz Real Estate</title>
            <description> <![CDATA[ 
In todays precarious job market, many luxury homeowners are finding they cant afford their massive, custom-designed properties any longer. As the once rich are having to quickly sell or abandon their Santa Cruz real estate, you might be able to snag a good deal on a distressed luxury home.

There are many horror stories associated with short sales and foreclosures, but if you do your research, are patient and can act quickly, you might be able to purchase the home of your dreams. If you want to take advantage of this sour market, then consider the following guidelines &mdash; and happy house hunting! 

&bull;&nbsp;Find an agent who has experience with distressed real estate. Interview Santa Cruz real estate agents to find out their history of dealing with foreclosures and short sales.

&bull;&nbsp;Research comparables. Investigate to make sure its actually a good deal by looking at other luxury homes that have sold in the area. Your agent can give you valuable information on comparables.

&bull;&nbsp;Be patient. Its easy to get anxious when it comes to making such a large purchase, but remember that these properties are in turmoil &mdash; which can take some time to resolve.

&bull;&nbsp;Hire a home inspector. If youre going to be investing big bucks, pay a home inspector up front to check out the home. Just because its a luxury property doesnt mean that it hasnt been neglected for the past couple of years. Youll want to know what kind of damage and repairs youll be dealing with.

&bull;&nbsp;Make an offer quickly. Other potential buyers and real estate investors will be keeping an eye out for enticing properties too, so be ready for competition.

&bull;&nbsp;Have your finances together. Pay as much as possible in cash. It will be more enticing to the lender, who actually makes the final decision on a short sale or foreclosure. 

If you want to purchase luxury Santa Cruz real estate at a great price, consider distressed properties going to short sale or foreclosure. Call me at 831.662.6522 or email me at Lauren@LaurenSpencer.com, if youre ready to start looking or would like more information. 

For additional information please visit my website at www.MySantaCruzRealEstate.com.

Links:&nbsp; 

Interview Santa Cruz real estate agents

Short sales

Foreclosures
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            <pubDate>Sun, 16 Oct 2011 23:01:00 -0700</pubDate>
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            <guid>http://www.mysantacruzrealestate.com/blog/how-to-be-a-savvy-santa-cruz-home-buyer.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/how-to-be-a-savvy-santa-cruz-home-buyer.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>How to be a Savvy Santa Cruz Home Buyer</title>
            <description> <![CDATA[ 
Buying a Santa Cruz home is both easier and harder these days. Yes, its a buyers market, which implies that prices are lower, but it also means there are tons of homes for sale that you have to wade through to find your jewel.&nbsp; Purchasing a home is a lot easier when you know how to be a savvy home buyer. 

Follow these five tips to get the Santa Cruz home of your dreams with less hassle and at a great price:

1.&nbsp;List your home before looking for another home. Contracts contingent on selling your existing home complicate the buying process and reduce your chance of getting a great bargain. Sellers are often unwilling to give any concessions if they have to wait for you to sell your home.

2.&nbsp;Get pre-approved for a loan.&nbsp; Sellers prefer to negotiate with buyers who are pre-approved for a loan large enough to purchase their home.&nbsp; The pre-approval may save you money because youll have more leverage to negotiate a lower price.&nbsp; Additionally, youll save time by looking exclusively at homes within your price range.

3.&nbsp;Ignore easy-to-change design issues. If the shag carpeting isnt your style, you can easily change it after purchasing the home. Dont like wallpaper? Remove it after you own the home. Envision what the home can look like with your personal touch.

4.&nbsp;Get a professional home inspection. Buying a home is one of the biggest purchases you will ever make, so be sure the structure is in good condition. During a home inspection, a qualified inspector takes a thorough, unbiased look at the property. The home inspection contingency is one you do want in your contract.

5.&nbsp;Make a serious offer. Listen to the price guidance your real estate agent provides and make an offer that wont offend the seller. Most sellers expect an offer lower than the asking price, but they dont want to feel insulted. Youll get much closer to what you want to pay for the house if you treat the seller like you want to be treated  with respect and courtesy.

If youre ready to buy a Santa Cruz home, let me help you get it at the best price and with as little hassle as possible.&nbsp; Give me a call today at 831.662.6522 or email me at Lauren@LaurenSpencer.com to get started.

For additional information please visit my website at www.MySantaCruzRealEstate.com

Links:

Concessions

Get pre-approved for a loan

Home inspection
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            <pubDate>Mon, 12 Sep 2011 23:01:00 -0700</pubDate>
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            <guid>http://www.mysantacruzrealestate.com/blog/get-schooled-on-santa-cruz-homes-for-sale.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/get-schooled-on-santa-cruz-homes-for-sale.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>Get Schooled on Santa Cruz Homes for Sale</title>
            <description> <![CDATA[ 
If youre looking to purchase a new home, then you have a list of priorities. When looking at Santa Cruz homes for sale, families with young children consider proximity to schools and quality of school districts as two of the top concerns on their home buying checklist.

With &ldquo;back to school&rdquo; on the brain, your top priority when looking at Santa Cruz homes for sale might be how close a home is to schools. Before you purchase property near a school, take the following considerations into account. 

&bull;&nbsp;Top-notch education  If the local school is the best in the surrounding area, then your property value could increase. Houses in your neighborhood will be in high demand because families will want to ensure their children are included in that district.

&bull;&nbsp;Around the block  Living near a school could be beneficial if you have younger children you can walk with. Additionally, your proximity will allow you to react quickly if school closes early or your child gets sick.

&bull;&nbsp;Noise alert - With cars whizzing by and children walking past, you might have to deal with daily commotion and traffic. Depending on how close you live to the school, you could also be subject to noise from recess, after-school practice and Friday night football games.

&bull;&nbsp;School view  Living directly across from a school could actually decrease the value of your home and increase the litter. A view of a high school isnt as good as a view of a quaint, tree-lined street; and the constant foot and car traffic could mean more mess in your yard. 

&bull;&nbsp;Neighborhood watch  Do your research. Some neighborhoods surrounding schools may have better relationships with the school. If your neighborhood association meets monthly with a school, youll be able to voice any concerns you might have. 

While there are many pros and cons to living near schools, you need to decide what is best for your family. 

Whether youre interested in Santa Cruz homes for sale near or far away from schools, I can help you find a home that fits your priorities.&nbsp; Call me today at (831) 662-6522 or email me at Lauren@LaurenSpencer.com.

Please visit my website for more information at www.MySantaCruzRealEstate.com.
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            <pubDate>Mon, 15 Aug 2011 23:01:00 -0700</pubDate>
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            <guid>http://www.mysantacruzrealestate.com/blog/santa-cruz-home-buyers-3-mistakes-first-time-buyers-make-and-how-to-avoid-them.html</guid>
            <link>http://www.mysantacruzrealestate.com/blog/santa-cruz-home-buyers-3-mistakes-first-time-buyers-make-and-how-to-avoid-them.html</link>
            <author>lauren@laurenspencer.com (Lauren Spencer)</author>
            <title>Santa Cruz Home Buyers:  3 Mistakes First-Time Buyers Make (and How to Avoid Them)</title>
            <description> <![CDATA[ 
There are a few mistakes that many first-time home buyers make.&nbsp; Here are three of the most common mistakes and how you can avoid them when purchasing your first Santa Cruz home.

Mistake #1:&nbsp; Assuming your credit is good.The information in your credit report determines whether you can get a loan &mdash; and how much interest you will have to pay  so it pays to be certain your credit reports are accurate.

Check your credit reports for free from all three credit reporting companies &mdash; Equifax, Experian, and TransUnion &mdash; to make sure everything is correct.&nbsp; If you find errors, contact both the credit reporting company and the information provider (the person, company or organization that provided information about you to a credit reporting company) involved in the errors and ask them to fix the credit report errors.

Mistake #2:&nbsp; Getting pre-qualified, not pre-approved, for a loan.It's far better to be pre-approved for a loan than to be pre-qualified.&nbsp;&nbsp; Heres why&hellip;

With pre-qualification, your lender does a preliminary evaluation of your ability to pay for a home and gives an estimate of the mortgage amount theyll give you.&nbsp; The lender does not verify the information you provide.&nbsp; 

With pre-approval, your lender verifies your income, assets, debts and credit history.&nbsp; They provide you with written confirmation of the mortgage amount for which youre approved. That written confirmation demonstrates to the seller that you are committed to buying; this can give you an advantage over other buyers.

Mistake #3:&nbsp; Allowing emotions to influence your decisions.Buying a home is an investment.&nbsp; It needs to be treated as any other investment.&nbsp; You don't buy stocks because they are pretty and you shouldn't pick your Santa Cruz home that way either.&nbsp; Make sure the home you buy fits your needs and allows you room to grow over the next few years. As with any sound investment, time is the key to a good return.

If you are a first-time home buyer, I would be happy to help you find (and get the best price for) your first Santa Cruz home.&nbsp;&nbsp; Give me a call today at (831) 662-6522 or email me at Lauren@LaurenSpencer.com.

Please visit my website at www.MySantaCruzRealEstate.com for more information.
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            <pubDate>Sat, 13 Aug 2011 23:01:00 -0700</pubDate>
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