Home Buyers Guide Your Avenue Home
www.Rich-Watson.com
The Watson Group is comprised of Rich Watson and Megan Zamberlin. Understanding the true meaning of a team, they work together on all properties, giving your individual lifestyle or property the utmost attention. As true partners, both in life and business there are no competing agendas only the passion to provide you with unparalleled service and attention for all of your real estate needs. With well over a decade of real estate experience, combined with Avenue Properties, they strive to provide savvy refined, personal service. To those who value the unique, Avenue Properties is the local real estate services provider that offers unrivaled access to qualified people and distinctive properties around the world. The Watson Group has a proven track record, with several records including -
| Highest Sale in Pierce County 2017 (& in over 4 years)| Highest Sale on Fox Island 2017 | Highest Price Sale in Gig Harbor | 2 of the top 5 sales in Pierce County 2018 | Rich Watson | Broker Having been in real estate in the Northwest for over 15 years, Rich brings a bit of Southern hospitality to Northwest Real Estate. With an extensive statistics background, including teaching at the University level, his ability with numbers is unmatched. Starting his real estate journey in investment, he brings that experience to every sale & negotiation for every client. A skilled negotiator, he is dedicated to securing every client the best deal possible. A lifelong athlete & competitor he brings a strong work ethic, focus and drive to every aspect of real estate. Off the clock, he enjoys spending time with Megan, son Keaton, rock climbing and all things sports.
Megan Zamberlin Watson
| Broker
Born & Raised in the Pacific Northwest, Megan is deeply familiar with the communities that make up Washington State. Her strong marketing & communications background plays a crucial role in selling your home. Having studied Marketing at Pacific Lutheran University, she brings her experience & eye to every property. She is hands on all with every marketing piece & decision, and prides herself on listening to the clients needs. The daughter of a former NFL linebacker, she is focused and driven. Having been a collegiate cheerleader as well as a former nationally ranked equestrian competitor, she brings the same intensity for success to every property. Off the clock, Megan enjoys spending time with Rich & Keaton, reading, and riding her horse "Festivus" aka. "Dent".
WELCOME TO BUYING A HOME The Buying process is a combination of excitement, stress & new experiences - no matter if you are a seasoned home buyer, property investor or if this is your first time buying a home. The simple fact is that buying a home is rarely a purchase that people make on a regular basis, which is why it is crucial to have an expert guiding you through each steps of the process. The buyers guide is intended to give you a resource to help de fine your goals, research your options & direct you through the process so that you can make informed decisions.
When you buy a home it should be about YOU.
Your dreams
Your requirements
Your financial situation
Your lifestyle
Your concerns
9 STEPS TO BUYING A HOME 1.) Define your goals
2.) Research your options 3.) Make your plans 4.) Get Pre-Approved 5.) Look for a property 6.) Make an offer 7.) Remove contingencies 8.) Prepare for closing 9.) Move In!
DEFINE YOUR GOALS Determine why you are buying a home.
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Is it a permanent place for your family, an investment or second home? Whatever the reason it is important that you buy with an eye on resale investment potential. Why has buying a home become an investment opportunity? No one can predict the future but over the last 25 years average home prices have risen substantially.
Land has become a decreasing resource, especially around hubs of cities & culture.
Housing is generally considered to be a stable investment, offering good rate of return.
Low interest rates over the last 10 years have made mortgages affordable.
Money that pays the mortgage turns into equity which can finance other opportunities
Investing the time to understand your local market & having a broker that understands and is in tune with the market could pay dividends.
RESEARCH YOUR OPTIONS Determine what you can afford and where
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Buying a and financing a home are closely related also it is important to keep in mind your current financial situation to understand how much you can afford.. With our expertise we help you narrow down areas for you. There are 3 components to all home searches 1.)
LOCATION
2)
TYPE - What type of home do you want
3.)
PRICE -
- where do you want to live
What can you afford
Only you can determine the order & importance of each item. This helps us narrow down your search!
LOCATION, LOCATION, LOCATION Why is location so important? Well first off you can’t move a home—at least easily or inexpensively . When you buy a home in a good location it is usually a good investment. Perhaps more than ever location is driving prices in the real estate market. In a strong market this is where we see the highest gains, in a weak market these are the homes we see retain their value. As local experts we are able to advise you on the state of the market in the area you desire.
|Top 5 Characteristics to a Good Location|
A Safe Neighborhood Good Schools Convenience & Commutability Water Access & Views No intermittent noise
Understanding Different Property Types HOUSE | Single family residence, detached, with yard
DUPLEX | Shared wall with one other residence, yard TOWNHOME | Multi-story, single family attached.
CONDO | Multiple units in building, no yard.
Each property type has it’s own strengths, weaknesses & values
Make your Plans After answering the following questions we will be in a great place to start looking at homes & mortgage options.
Set your priorities What do you want for your home? What does your family want from your home Do you want a turnkey home or do you want to renovate Chose the top 5 must haves
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Chose the top 5 would likes
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3
Are you financing the home?
Are you pre approved for your mortgage? If no see next step! What can you afford on a monthly basis? When is the ideal time for you to move? Do you need to sell a home currently?
GET PRE-APPROVED Be informed of what you can afford.
4
No matter your prior experience, circumstance or reason for buying a home it is always in your best interest to be prequalified for a loan prior to seeing homes. The current rates, any challenges, and true knowledge of affordability should be known before actively seeking out your new home. This allows us to only show you homes that will be the right fit as well. The preapproval process involves speaking with a lender and authorizing them to examine your current financial situation & credit history which results in the amount you and rate you will be able to borrow.
Benefits of Pre-qualification 
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Knowing what you an afford enables you to plan accordingly. It allows us to narrow your home search and provide areas with the best value to match your needs
As a qualified buyer you are taken more seriously when you do make an offer on the home.
LOOK FOR A PROPERTY After all the prep work, the real fun begins.
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We will set up a search for properties for you, that will take into account your must haves & your wants combined with desired location & price point. Communication is key! We will send you a first round of properties available, please comment, rank and make notes about the properties. We can then narrow your search to homes that even better fit your needs and strike properties that don’t fit the bill.
Property visits Time to look at homes! Taking the feedback from the electronic search & your specific property requests we set up a tour.
Making an Offer & Negotiations
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Once we have found the desired property together, it is time to make an offer. After looking at the market value, comparables & discussing the home, putting together an offer is fairly straight forward. Most offers include several protections for buyers, from inspection contingencies to financing contingencies. We will discuss with you each point as we decide on the offer point.
Once the offer has been submitted, the seller may accept your offer, counter or choose not to respond. If countered it may include changes in price, length of contingencies or even closing & possession date. Offers can be countered back and forth until it is either mutally acceptable or unable to come to terms. Typical Conditions in a Purchase & Sale include:
Financial Terms, Inspection Contingency, Homeowner’s Insurance Contingency, Closing Date, Posession of the home & Title Company
Removing Contingencies
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Once mutually accepted the timeline for contingencies begins. You will receive a timeline of all dates and contingencies. We will set out a map forward & schedule all inspections needed for you.
Once they have been completed we decide what items or things need to be requested for repair or any credits that need to be addressed. Then it is negotiated with the selling side of the transaction. Once all contingencies are removed, we proceed to close. The only exception is that the financing contingencies sustain until closing.
Prepare for Closing
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After all of the contingencies have been removed, it is then in the hands of the legal & financial institutions to prepare the final documents. We will contact you if there are any items that come up. Make sure to monitor all correspondence. The title company will set up a closing appointment - they will provide a list of all items needed to sign for closing.
9
MOVE IN
The end goal! Once recording numbers are in , it is time to receive the keys to your new home. Prior to possession day, it is the time to arrange moving and utility companies. We have an extensive list of contacts & referrals in all areas of real estate to help make the process smooth. This includes contractors, painters, carpet cleaning companies, house cleaning, yard maintenance and more.
Time to enjoy your new home!
8 common mistakes homebuyers make 1) Going over Budget 2) Overlooking the importance of location
3) Not Pre-Qualifying for a mortgage 4) Not Shopping for the most suitable mortgage to match your requirements
5) Not understanding all the terms and conditions: interest rates, length of contracts, mortgage types & rates before selecting your mortgage 6) Buying a new home before selling the old home if unable to support both homes. 7) Not understanding the true costs associated with buying a home.
8) Not using professionals in all aspects of the buying process including mortgage broker, inspector or moving company.
NOTES:
Important Contacts:
Mortgage Broker:
The Watson Group Rich & Megan (253)988-5973 or (253)330-6200 richw@avenueproperties.com
www.Rich-Watson.com (253)988-5973 • (253)330-6200