1st Time Buyer Tips!

Home-price adjustments in markets around the country have opened doors of opportunity for many renters. If you are transitioning from renter to homeowner, the prospect of making such a large investment may be exciting, while at the same time overwhelming. But it doesn’t have to be. Here are six common mistakes to avoid.

1. Not understanding the homebuying process. Educate yourself. Find a homebuyer seminar that you can attend or research online. The U.S. Department of Housing and Urban Development Web site (http://www.hud.gov/) has an entire section devoted to homebuyers with common questions of first-time homebuyers, mortgage and home-buying programs information, downloadable tools such as a wish list and home-shopping checklist, tips on selecting a real estate professional, etc. Likewise, Prudential Real Estate’s popular Web site, prudential.com/realestate, offers consumers brand-new tools for the homebuying process, such as free home environmental reports, Value Range Estimates and Property Profiles, among other resources.

2. Not asking questions. There are many facets and intricacies to the homebuying process, so although you may gain a basic knowledge, you will still have questions. Don’t hesitate to let your real estate professional know that you are new to the process. Make sure you choose a sales professional who is willing to spend time with you and walk you through the entire process. He or she will expect you to have questions at each step—from house hunting, to making an offer to the closing. Remember, this is one of the largest financial transactions of your life, so you want to have a clear understanding of what’s going on.

3. Buying on impulse. Don't feel pressured into making an offer on the first home you see. Buyers, especially first-timers, may be impressed by the first two or three homes they view. Look at a good selection. List the positives and negatives about each home. Narrow the prospects to three or four and then return for a closer look. When you decide to make a bid on a property, work with your real estate professional to get all of your questions answered before making an offer. But don't wait too long to make an offer. The longer you wait, the greater the chance other prospective buyers may place offers, making it harder for you to negotiate a good deal.

4. Looking outside your price range. Before beginning your home search, consider getting pre-qualified to so get an idea of how much you may be able to borrow. Use this information as a starting point in determining your price range. Then take into consideration other factors that will affect your monthly budget once you are a homeowner, such as property taxes, homeowners insurance, utilities, private mortgage insurance (PMI) and maintenance.

5. Not planning ahead. Think about personal changes you are planning in the next five to seven years. For instance, are you starting a family, and if so, is the home large enough and will it continue to be? If this will be a starter home or if you think you’ll be relocating in a few year, you’ll probably want to pay closer attention to appreciation and resale value. If a double-income is necessary to qualify for financing and to make your payments, do your plans foresee an income sufficient to continue making payments?

6. Failure to focus on location. Don’t just focus on the house. Examine the community. Does it suit your lifestyle? Is the area safe, well-maintained, close to work, stores and schools? Find out about zoning and what new construction is planned on vacant land in the immediate area. Also consider the property marketability when it’s time to sell.Above all, remember knowledge is key. No question is a silly question. Your real estate professional can be an invaluable asset throughout the process. Making smart home buying decisions will make the home-buying process less scary and your first home purchase a rewarding experience.

Molecular Dislocation!

Ahhh, as a wide eyed youth attempting to become a muscular young man I decended upon the World Gym (long gone) at Wheaton Plaza. As I entered I was hit with the "clanging" of wieghts, bright colors of the gym clothes of the "era" (thank GOD they are long gone) and the distinct smell of a locker room et al. Anyway, I jumped in to the scene...of, molecular dislocation.

This is a term used by my favorite radio personality, or BOSS JOCK, the Greaseman"! Who as it turned out would ultimately join my new favorite place to hang out...World Gym.

Well, the ole' gym crowd was filled with "personalities"...not necessarily famous...just personalities. You had the hair plugged late fifties guys, the make-up laden house wives/or ex-housewives- spandex and all, the young aspiring football/baseball jock kids (me and friends), the actual fitness freaks spending hours on treadmills and aerobic classes, and the hero's of the day (sadly) the JUICERS....although at the time I (among my peers) did not no they were?

Anyhow, at the gym (I had become quite the gym rat) I had a chance to "spot" (term for watching/helping someone while they were lifting heavy wieghts) a man who was very nice and altogether familiar...his voice was anyway. I dared to ask him if I knew him and he said his name is Doug, but he is known as "The Greaseman"....WHAT! Are you kiddin me, unbelievable , I knew (me the teenage Jay...pimples and all) the freakin' Greaseman..."Nino" the BOSS JOCK himself...wow. And beyond all of this he was a cool, nice down to earth guy, who after the initial "wow" factor wore off became just a friend at the gym to me.

I worked summers in Ocean City, MD (my home now) and the Grease's Band played at a local bar...I went and met the Grease there...and what instant cred that gave a single summer cop that night? I don't need to say anymore. The picture is of me, The Greaseman and a good friend and old supervisor of mine Timmy Keane the night of the show.

How glad i am to hear the Grease is back "at home" with DC-101 on Saturday mornings! When I am in the DC area I won't miss his broadcasts....unique and creative....everything that is missing from all the other morning garbage shows nowadays. Thanks Grease you made an impression on an old gym rat now...when you are in Ocean City look me up...and we'll head over to 67th St...where I still workout at World Gym. Now, I am afraid to admit I fall into some kids list of "personalities" at the gym....

OH...GO TERPS!! Beat Clemson!

http://www.awisemove.net/

Gameday Approaches GO TERPS!

Well, as summer winds down here on the beautiful beaches of Ocean City, Maryland...and students pack up and leave for college, foriegn workers pack up and leave for Latvia, Lithuania, Russia, Nepal, etc....I will be packin' up to head to College Park- FOR TERP FOOTBALL!! Ah, the smell of sausages cookin' on grills, the snap of a cold beer being opened (no more kegs saddens me) , a sea of red clad people (old and young), did I mention the smell of sausage?

The season looks promising with a bunch of returning starters and a linebacking corps like no other in the ACC! Jordan Steffy will get another shot to start the season, and will not dissapoint...with the addition of James Franklin as the new Asst. Head coach and running the offence. The FRIDGE can do what he does best oversee the Team and Coaches and take the TERPS to the ACC Championship!

Bring on the Blue Hens, California, BC, FSU, Clemson and Virginia Tech...woooo weee what a schedule, it's gotta' be one of the toughest?

If you can't get to the games because you are in Ocean City, buying a great condo...here are the radio stations you can catch the games this year: WQMR 101.1 FM Ocean City & WTGM AM 960 Salisbury.