Home Buying Process*Pre-Approval First*

Buying a home can be one of the most exhilarating and exciting times in ones life. It can also be a very emotional, difficult, & stressful time if you do not have the correct advice and process explained. The first step should always be to know where you stand financially if you are obtaining a loan in order to purchase the property. Getting a pre-approval and looking over a GFE(Good Faith Estimate) is increasingly important due to the strict loan approvals and all costs that are included in your monthly payment outside of just the principle & interest. A new buyer or even an experienced buyer, should speak to a loan officer as soon as they start to consider a purchase.

The Internet has made it easier and pretty much fun to look for homes. As a result buyers are looking at homes and wanting to shop before they even know what they are fully approved for, if they have the sufficient down payment, and if they would be comfortable with the monthly payment. Loans are more difficult to obtain, rates change regularly, there is no longer 100% financing options(Outside of VA loans & Rare Unorthodox Programs), and you must think about the other factors that make up the monthly payment. This includes not only the mortgage payment(Principle & Interest), but a few other important and often costly factors. First, if you're putting less than 20% down you will need mortgage insurance. Home Owners Insurance will be required as well. Second, you have property taxes. Last, you have to consider home Owners and condominium association fees. All of this can be broken down and illustrated by a loan officer on the Good Faith Estimate.

If you're thinking about buying, first see what loan amount you are approved for. Then have a loan officer run a GFE at that amount on a specific property that reflects what you desire. After that, you'll be fully aware of your buying power and it will make the process a lot smoother.

Ben White, Montgomery County Realtor
Specializing in first time home buyers in Rockville

Montgomery County: Buyer or Seller Market??

As we've all heard time and time again, "It's a great time to buy!" True, but has the word spread so quickly and with such momentum that the market could be turning back in favor of the seller? There are many factors that could all be up for debate, but the bottom line is: Correctly price your home and the buyers will be there. "If you price it right, they will come." Of course, this is a moot point if you're a homeowner who bought in 2005 or 2006 and you are unable to price your home anywhere near the foreclosure & short sale market. Still, if you're in a position to price your home aggressively, if you are selling through the short sale process, or if you're a foreclosure agent/bank, the offers are coming and they are coming fast!

Recently, I have had the pleasure of working with a large amount of first time home buyers/investors and have also been able to list an estate sale. The first timers are looking to take advantage of the low rates(Hurry everyone. We've seen a hike, but they're still at HISTORIC lows), low prices, and the high inventory. This is great as a buyers agent, but they're not alone and every home I write on is receiving multiple offer. The investors are drooling over the opportunity to purchase a distressed REO property and turn into a potential cash cow. While the sellers of the estate sale are in a position to price the home fairly and draw all of these active buyers. What we're seeing in the first week of listing is tons of interest and multiple offers that might drive the price above our initial list price.

So, while there are still good deals and rates, it's not all bad news for the sellers who have played their cards right or are in a position to list at a competitive price. Buyer or Seller Market?

Rockville condos for sale | Rockville MD condominiums

The below Rockville condominiums in Montgomery County, Maryland show all their active listings for sale and rent in the MRIS as of today.

BELOW LISTINGS ARE UPDATED DAILY

Rockville md condos under $300,000

Rockville md condos under $400,000

Rockville md condos under $500,000

Rockville md condos under $600,000

Rockville md condos OVER $600,000

Miramont condos & apartments | Rockville, Maryland

DRIVE-THROUGH VIDEO TOUR OF MIRAMONT VILLA CONDOS and APARTMENTS
California Circle -- Rockville, Maryland -- 20852
-2 bedroom 2 bath rentals go for around $1,650/month





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**CURRENT LISTINGS ON MRIS IN MIRAMONT VILLAS**

**ROCKVILLE CONDOS FOR SALE, ACTIVE MRIS LISTINGS**

Woodmont Overlook townhomes in Rockville, MD | VIDEO TOUR

Woodmont Overlook townhomes -- VIDEO TOUR



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PART 2




SEE ALL ACTIVE ROCKVILLE TOWNHOMES FOR SALE

The Sterling condos- VIDEO TOUR | Rockville, MD

The Sterling condos located on the east side of Rockville Pike and Old Georgetown Road.
11700 Old Georgetown Road -- Rockville, Maryland -- 20852
-condo fees about $475/month
-property taxes about $4,128/month
-sales prices range from low $300,000 range up through $450,000+
-rentals currently going around $2,000 to $2,400




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Current Sterling Condos for sale

E85 pump in Rockville, Maryland

Where do I find E85 fuel for my car in Montgomery County, MD?
Here's one in Rockville at the Sunoco.


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E85 is 85% ethanol, this is not it's OCTANE RATING. Regular gas generally goes up to 93 octane.. E85 octane is over 100. Newer model Chevrolets are able to burn this fuel, to confirm, the car will have a E85 tag on the rear.