RE/MAX Sedona-Serving Sedona AZ and the Verde Valley Communities 928-284-2501

Your Team

Your Agent

A successful purchase starts with the right representative. In fact, once you’ve selected the best agent to represent you, it is likely that he or she can recommend other professionals to join your team, taking more of the responsibility off of your shoulders.

Lender (Appraiser)
A bank is not just a bank. Having the right backer can be extremely important – it is your money we’re talking about after all! Make sure that your lender and financial representative is someone with whom you feel comfortable, and be wary of any lender who promises you more than you think you can reasonably afford. Your lenders may or may not require an independent appraisal, and typically will make arrangements for the appraisal themselves.

Lawyer
In Arizona, an attorney is not ordinarily required, however there are some circumstances where consulting a qualified real estate attorney may be advisable. Your home purchase is far too important a transaction to skimp on legal representation at the risk of leaving yourself open to costly future issues. Find a lawyer who is willing to take the time to answer your questions and who specializes in real estate law in the area where the property is located.

Home Inspector
No home inspection is 100% guaranteed, but a few hundred dollars to catch a major problem now is certainly better than many thousands to correct that ‘surprise’ down the road. Ask your agent for a recommendation.

Contractor
Planning some renovations? You’re not the only one! The home renovation industry is booming, and in some markets, booking a contractor must be done months in advance (that’s a long time to go without a kitchen). Don’t let finding the right contractor slip through the cracks – planning ahead will almost certainly make your renovation smoother, and you contractor will appreciate the advance notice.


Your Plan


1.  Find the right representative

Even if you’re not quite ready to buy, your buyer’s agent can be an absolute wealth of information, and can often offer ‘scoops’ on local developments you might not have know about otherwise.  Speak to your agent first and he or she can be helping to guide you right from the start.

2.  Find out what your price range is
Online mortgage calculators are a good place to start, but as you get closer to being ready to buy, there is no substitute for a written mortgage pre-approval.  Just speaking to your lender is an extremely worthwhile venture – this is the only way to really get an in-depth picture of your overall financial picture and to discover exactly what you can reasonably afford to spend on a home (and possibly on renovating).

3.  Find out what your local market looks like
The internet can be incredibly valuable in doing preparatory research.  Start with your agent – he or she can direct you to valuable resources and immediately start e-mailing you real estate listings that may interest you (or at least give you a better idea of what your needs and wants are).

4.  Find out what your true needs and wants are
Compose a needs/wants list that takes into consideration your local market conditions, your price range, and the advice of your real estate agent.

5.  Find your dream home!
Once you’re ready to act, you may be surprised by how quickly you can make a decision.  Armed with your pre-approval, a little market knowledge, and your needs/wants list, call your real estate agent, hit the pavement, and when you see ‘the house’, put in an offer. 

With the right team behind you, it really can be that easy!


Your Calculator


Let us help you find out what you can afford! Our mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.

Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the "Receive this Detailed Analysis" link below.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %

Your Real Estate News

real estate - Yahoo News Search Results

LISLE, Ill. -- Midwest Real Estate Data (MRED), Chicagoland's multiple listing service (MLS), has announced that it is time again for MREDpalooza! MREDpalooza 2015, one of the largest MLS tech expos in ...

3/30/2015 8:54:54 AM

Wheeler Real Estate Investment Trust, Inc. announced today that the Company has entered into a contract to acquire Beaver Ruin II Village , a 34,925 square foot shopping center located in Lilburn, Georgia.

3/30/2015 6:30:00 AM

Make a profit on it and the CRA will want a piece of your action. How big a piece depends on whether it deems the sale a capital gain or business income

3/30/2015 10:22:47 AM

CNL Commercial Real Estate continues to expand its presence in major Florida markets by bringing on three senior-level team members, Greg Main-Baillie, Gabriel De Jesus and Andrew Hawkins, to its offices ...

3/30/2015 7:00:00 AM

In a red-hot market like Toronto, where a $1-million home sells in 24 hours and a realtor puts in a few hours of work for a $25,000 commission, the numbers might work

3/30/2015 10:13:08 AM

Zephyr Real Estate is pleased to announce the appointment of Erinn Millar as Sales Manager for its new Marin office, scheduled to open imminently at the Bon Air Center in Greenbrae. Millar is a Marin County ...

3/30/2015 10:00:00 AM

Blackstone Group LP, the world's largest private equity investor in real estate, has almost finished raising its next flagship global real estate fund, amassing $15.8 billion, a person familiar with the matter said on Monday. From buying single-family homes in the United States to distressed commercial property in Europe, real estate has overtaken private equity as Blackstone's most high-profile ...

3/30/2015 1:00:24 PM

So You Want to Be a Real Estate Investor?

3/30/2015 12:13:27 PM

Goodwin Procter, a leading Am Law 50 and Global 50 law firm, announced today that Chauncey Swalwell has joined the firm as a partner in its Real Estate Capital Markets Group in Los Angeles.

3/30/2015 10:26:00 AM

Hong Kong and Shanghai stocks added to recent gains Tuesday morning, as property shares jumped after the Chinese central bank and top real-estate and financial regulators unveiled policies to support the declining housing market.

3/30/2015 9:32:07 PM