Tips on Buying a Luxury Home

While home prices across the country have dropped or stabilized to varying degrees, luxury home prices have been slashed.
This presents a great opportunity for those who have the financial resources to purchase a luxury home that might have been completely out of their range six years ago.

“Purchasing a luxury property, however, is unlike a standard home purchase. We advise all our luxury-home clients to consider the following before embarking on their search:

1. Weigh the finances carefully.

Even if you’re ready to pay cash for your luxury home, you still want to ensure you’re getting the best possible value and potential return on investment from your home purchase. Make sure you truly have the financial wherewithal to remain in the home as long as you’d like. Consider the stability and growth potential of your future income before moving forward.

2. Have your documentation in order.

Many luxury home buyers derive their net worth from a variety of sources and investments. Given the high-end purchase price of a luxury home, along with today’s unstable economic climate, prequalification is often necessary when it comes to luxury purchases.

3. Investigate alternative search methods.
The best luxury property deals might not be found through traditional real estate search engines but rather through word of mouth. I am well connected and networked in the communities your are considering.

4. Seeing is believing.
Expansive square footage, sprawling property, and a bevy of incredible views often make luxury homes difficult to completely capture in photos, videos or virtual tours. A visit in person is an absolute must to make sure you’re not missing any potential details and, conversely, to make sure the property lives up to its image.”

Thanks for the article Anita Rich’s


I specialize in helping my clients with the purchase of their luxury homes. Call me today for all your needs.

Loan Tips for Self-Employed Home Buyers

If you are self-employed and are considering purchasing a home, it’s important to be aware of the changes that have occurred in the world of lending.

Here is a quick check list for prospective buyers.

As everyone is well aware, getting a loan is not nearly as easy as it used to be. Those who are self-employed are having a more difficult time borrowing money and must provide documentation that shows their income. The IRS is being contacted for income verification by many lenders and any fraudulent income claims are being dealt with.

In a nutshell, if you are self-employed and applying for a mortgage loan, be prepared to:

Line up all of your documents showing your income before going to apply for a loan.(2 years tax returns including all schedules)

Check your credit and do what you can to improve your credit score.

Pay your bills on time.

Most importantly, tell the truth. Misrepresentation can cost you.

Many lenders are hiring more loan officers. They are convinced that current low rates are going to bring many more new and refinance loans in the next 18 months or so. Mortgage rates have been decreasing since April, closely tied to the unsteady economy where wary investors are putting their money in safe investments like treasury bonds. As these yields go down, interest rate goes down as well. In other words, the unsteady global economy equals good news for the home buyer acquiring a mortgage and home owners who are refinancing their home loans.

If you are self-employed and can provide decent and accurate documentation there is no reason you shouldn’t be able to secure a home loan.

Call me today with help concerning the documentation needed for a self-employed borrower.  Helping you find the home of your dreams is one of my top priorities.

Thanks Lee Dworshak for the information.