The Arizona First Time Home Buyer Podcast

Hiring a great home inspector is a key part of the due diligence or inspection period. Getting a home inspection is like getting a physical from your family doctor. The home inspector will check out all of the home's systems to make sure that they are working properly, and recommend you follow up with a specialist (plumber, roofer, etc) if there are any signs of issues. Choosing the right home inspector can be the difference between relaxing in your new home or potentially spending thousands of dollars on unexpected repairs. One of the first things you should do to ensure you get a great home inspector is to check with the Arizona Board of Technical Registration. You can find their website at https://btr.az.gov.If you have questions about hiring a home inspector or are ready to start the home buying journey, please feel free to reach out to me.Christopher EppichAssociate BrokerHomeSmart(480) 295-9431 CellChris@YourFirstHomeAZ.com

The real estate market is heating up, and some buyers are getting BURNED! With the hottest real estate market since 2006, buyers need to really understand and plan for entering the current real estate market. A big part of that preparation is hiring the right REALTOR and lender. In this episode, I'm sharing what is happening in the market and what to expect, as well as important questions to get the right agent in this market.Ready to start your home buying journey?You can reach me at :Christopher EppichAssociate BrokerHomeSmart(480) 295-9431 CellChris@YourFirstHomeAZ.comwww.yourfirsthomeaz.com

First time home buyers are facing stiff competition from repeat buyers so far in 2021, but they are also discovering that they have 3 key advantages over repeat buyers. In this episode, I'm discussing these advantages, which include: down payment assistance, no buyer contingencies, and expectations. Together, these are giving first time home buyers an edge in winning the home of their dreams.Ready to start your home buying journey?You can reach me at :Christopher EppichAssociate BrokerHomeSmart(480) 295-9431 CellChris@YourFirstHomeAZ.comwww.yourfirsthomeaz.com

Not sure what questions to ask during the due diligence period when buying your first home? The Buyer Advisory is an important and valuable document your REALTOR should provide you with to assist you with your due diligence and home buying questions. This 14-page document is full of information and resources, as well as commentary from the Arizona Department of Real Estate. By carefully reviewing this advisory, you can find insight and resources to help you ask the right questions about your potential new home. I consider it a must-read for anyone purchasing a home, but especially first time home buyers.As always, you can reach me at:Christopher EppichAssociate BrokerHomeSmart(480) 295-9431Chris@YourFirstHomeAZ.com

The due diligence period is full of many things to consider and almost as many things to do. Many first time home buyers aren't sure what questions to even ask, but you're in luck! The Arizona Association of REALTORS residential purchase contract offers you crucial insights from the seller in the form of 2 critical documents the seller should provide you. They are the Seller's Property Disclosure Statement and the Insurance Claims Report. These two documents, along with the Buyer Advisory are instrumental in understanding the condition of the home, and discovering any important facts about the home that might just change your mind about purchasing that home. In this episode, I'm going to discuss these two documents in more detail and help you understand how to use them to know what questions to ask.As always, you can reach me at:Christopher EppichAssociate BrokerHomeSmart(480) 295-9431Chris@YourFirstHomeAZ.com

Will 2021 be a good year to purchase a first home? 2020 was a difficult year for many first time home buyers. So, how will 2021 compare? It's important for first time home buyers to understand the real estate market and determine for themselves if it's a good time to purchase a house. In this podcast, I will be discussing some of the predictions by economists as well as what I am seeing so far in 2021. In this episode, I discuss 2 online articles. You can find them here:https://www.washingtonpost.com/business/2021/01/11/2021-housing-market-predictions/https://magazine.realtor/news-and-commentary/economy/article/2021/01/real-estate-in-2021-plenty-of-reason-for-optimismAs always, you can reach me at:Christopher EppichAssociate BrokerHomeSmart(480) 295-9431Chris@YourFirstHomeAZ.com

The National Association of REALTORS is the target of multiple lawsuits. These lawsuits target the way that a buyer's agent is paid a commission. So why are sellers targeting the buyer's agent's commission? Well, there are a few reasons. First, it's been traditional for the seller to pay for the buyer's agent, but this practice started in a different time and the tradition hasn't changed with the times. Second, the plaintiffs against the National Association of REALTORS (NAR) allege that the NAR is conspiring with 4 major real estate companies to keep a buyer's agent's real estate commissions artificially high. Finally, they allege that a buyer's agent does not contribute in a significant way to the real estate transaction. The NAR has asked the courts to dismiss these lawsuits as being baseless and full of incorrect and false information. However, the National Association of REALTORS just agreed to settle a lawsuit filed by the Department of Justice, which alleges the NAR is in violation of antitrust laws and creating an environment that is anticompetition.If you would like to learn more about these lawsuits, I've referenced the following online news articles:https://therealdeal.com/2020/06/08/a-trifecta-nar-sued-again-over-buyer-broker-commissions/https://therealdeal.com/national/2019/06/18/class-action-cases-over-broker-commissions-pick-up-steam/https://therealdeal.com/2019/04/17/nar-hit-with-another-antitrust-suit-over-buyer-broker-commissions/https://www.housingwire.com/articles/48832-nar-slapped-with-second-class-action-lawsuit-to-end-buyer-broker-compensation/https://www.washingtonpost.com/realestate/average-commission-rate-for-home-sales-heads-down-toward-5-percent/2017/01/09/4ee3f048-d6a8-11e6-b8b2-cb5164beba6b_story.htmlIf you have any questions about real estate commissions or anything else related to buying your first home, please feel free to reach me at:Christopher EppichAssociate BrokerHomeSmart(480) 295-9431 CellChris@YourFirstHomeAZ.com

Last week the National Association of REALTORS (NAR) was sued by the Department of Justice alleging that the NAR was responsible for anticompetitive policies and violations of anti-trust laws. This and other law suits the NAR is facing could have a significant impact on real estate commissions and who pays them. If you would like more information on the DOJ's claims, be sure to check out https://www.justice.gov/opa/pr/justice-department-files-antitrust-case-and-simultaneous-settlement-requiring-nationalIf you have any questions about purchasing your first home, you can reach me at:Christopher EppichAssociate BrokerHomeSmart(480) 295-9431Chris@YourFirstHomeAZ.com

Once your offer has been accepted you'll be ready to start the purchase process. There are many things to do including inspections, your due diligence, getting a loan, and LOTS of paperwork. In this episode, I cover the overall escrow process that brings you to become the new owner.

In this episode, I discuss the impact the elections have on the real estate market. 2020 has been unlike any previous year in recent history and many people want to know how the elections will affect the current real estate market. I think there are 4 key reasons that the real estate market will remain unchanged. They are: 1. Historical Data2. Strong Buyer Demand3. Historically Low Interest Rates4. Millenials Are Entering The Market Like Never BeforeI hope you enjoy listening to this episode. If you have any questions about the real estate market, relocating to the Phoenix metro area, or purchasing your first home, you can reach me at:Chris EppichAssociate BrokerHomeSmart(480) 295-9431 CellChris@YourFirstHomeAZ.com

Earnest money is an important part of your offer when buying a home. In this episode, I share what you need to know about earnest money. There are 5 reasons why you should consider an earnest money deposit.

Many first time home buyers wonder what happens when you make an offer on a house? There are 3 parts to the offer process. They are: writing the offer, presenting the offer, and resolving the offer. Writing an offer can be exciting and scary both at the same time. In this episode I'm going to share with you how the offer process works, and what happens once you've made an offer.

Many first time home buyers wonder, "What does it cost to have a buyer's agent?" In many situations, the seller will pay the commission for the buyer's agent, which means that most buyers can receive professional advice, help negotiating, expert guidance on their home search, and an advocate for FREE. However, there are certain things that the buyer can do that risk having the seller refuse to pay the buyer's agent's commission. In this episode, I'm going to help you understand who pays for a REALTOR to represent the buyer and how to avoid having to pay the commission out of your pocket.if you will be buying a home with less than 20% down, you'll want to understand mortgage insurance; what it is and why you'll need it. Mortgage insurance protects the buyer and their lender in the even of a default or the buyer has to give the house back to the lender. In this episode, Greg Gale and I discuss what mortgage insurance is and Greg helps provide understanding as to why you need it, what mortgage insurance actually is.

What is the best app to search for homes for sale? I'm covering my top 5 list of home search websites and why you should choose one of these to find your next home. Searching accurate home data is critical when shopping for your new home. You don't want to waste precious time searching through homes that aren'te even for sale. Many home buyers don't even realize that the data displayed on many home search websites is inaccurate or even out of date. These sites are in the business of selling your data to REALTORS and lenders. In this episode, I'm going to cover my top 5 home search apps. This list is only my opinion, and I'm not compensated or affiliated with any of these sites. Want to connect with me through homesnap? Visit www.homesnap.com/Christopher-Eppich and connect with me about your home search.

Why buy a home in the winter? WInter home buying can be easier, especially for first time home buyers. Reduced competition, lower costs, better service, and lower rates are all good reasons to buy between October and New Year's Day. There are other reasons why you should consider winter buying in 2020. Fierce competition, historically low interest rates, and a critical shortage of homes for sale have dominated the news about real estate. I believe that the seasonal slow down around the holiday season will be the very best time for many buyers. If you've struggled to buy a home, or have been afraid to enter the real estate market, right now is the time you've been waiting for. With possible shut downs of businesses and stay at home orders due to COVID 19 predicted for the fall and winter seasons in much of the country, and worries that inflation will cause rates to increase, now is your time to take advantage of the amazing savings from the lowest rates in recorded history. Download a free copy of my buyer's guide? Then head over to www.yourfirsthomeaz.com/buyers-guide. It's packed full of useful information about the home buying process.

When buying your first home, you're going to want to consider your home buying wants and needs. By focusing on what is most important to you in your new home, you'll not only reduce the stress and confusion of home buying but you'll also have an easier time identifying your new home. There are 3 main areas you should consider when shopping for your new home, they are; the house, the lot, and the community. Each of these helps to shape your experience as a homeowner. By factoring these into your home buying wants and needs, and focusing on the most important needs and wants, you'll not only get a home that you love but also avoid home buyers remorse.

Knowing what to look for at an open house can save you time and money when purchasing a home. Visiting an open house or private showing is a great way to see if a home needs repairs or updates before writing an offer. It's also a great way to see if the home will fit your needs. THere is more to look for than just the floorplan and how the seller decorated.In this video, I'm going to share with you 7 things you should look for. They are;Odors, Pets, Pests, Temperature, Deferred Maintenance, Water Damage, and Foundation Issues.These 7 things may cause you to rethink writing an offer on the home.

In this episode, I'm discussing the ins and outs of open house etiquette. Visiting an open house can be a great way to find out what you would like or not like in your new home. It can also be a great way to meet and find out what type of a real estate agent you want to work with, and possibly find the right agent to help you. There are some rules, or etiquette, to follow when attending an open house though. Many first time home buyers are unaware that an open house has rules, or they don't know what the rules are, so I'm sharing them with you in this episode.

There are many things to decide when buying your first home, and deciding between a fixer upper vs move in ready is the first place to start. There are several factors to consider, such as if you are willing to take on a project home, or if you even have the time to. In this episode, I'm going to share some of the pros and cons for both. Taking on a fixer upper has gained popularity since the housing market crash. There are even many TV shows, but move in ready is quite popular with many home buyers. So, which is right for you? Make sure to listen until the end, because I'm going to share with you my favorite home search tool.

If you want to reduce the home buying stress, then you'll want to watch until the end of this episode. Learn how to reduce home buying stress with my top tricks & tips for first time home buyers. Buying a home can be extremely stressful. As a first time home buying specialist, I believe in helping my clients reduce or eliminate any undue stresses during the home buying journey because buying a home should be fun and enjoyable!

In this episode, I'm going to share with you my Top 5 Tips to get your offer accepted in a tough seller's market. There is a huge shortage of homes for sale and especially in price points that many first time home buyers are shopping in. If you want to get your offer accepted you can either hope to have the very best offer, or you can try to make your offer stand out. Make sure to watch until the end to get my free offer. If you would like more information on the real estate market in the Phoenix metro area or have a question about purchasing a home, please leave a comment.

Seller's market vs. buyer's market- Why does it matter, and what should you know when buying a house? The type of real estate market you are purchasing in can make a big difference in your experience and negotiations. Many parts of the country are in a strong seller's market right now. In this video, I'm going to explain the differences between a buyer's market, seller's market, and a neutral market. Before you jump into purchasing a home it's important to understand what this means for your home buying experience and your bottom line. It is my opinion that no other group is more affected by the type of real estate market they are purchasing in.If you would like more information on the real estate market in the Phoenix metro area or have a question about purchasing a home, please leave a comment.

Is now a good time to buy a house? 2020 has been a crazy year and even real estate has been effected. Many first time home buyers want to know if 2020 is a good time to buy a house. I'm going to share with you my Top 3 Pros and Cons of buying in 2020. There are a lot of factors to consider when deciding if 2020 is a good year to buy a house. First, are you in a good position to purchase a home financially. Are your financial circumstances unlikely to change? You don't want to get into a mortgage if you are likely to have financial challenges. Next, do you have the time necessary to purcahse a home? Buying a home takes time, so it's important to give yourself the necessary time to complete your purchase. Also, you'll want to make sure that you're going to be in your new home long enough to recoup the costs of purcashing.There are really 3 top reasons why 2020 may not be a good year to purchase your first home. They are: low affordability, lack of homes for sale, and lots of competition. These make home buying difficult. But, there are also 3 top reasons why now is a great time to buy a house in 2020. They are: interest rates, tight inventory, and affordability.If you are on the fance about whether buying a home in 2020 is for you, then you don't want to miss this.

Common Out Of Pocket Cost To Buy A House in ArizonaThe common out of pocket cost to buy a house in Arizona often vary based on price and square footage of the house. In this video I'm going to share with you the secrets to knowing how much money you'll need to save to purchase a home, as well as a few tricks that can potentially save you thousands of dollars in the out of pocket cost to buy a house. While your down payment and common closing costs are usually a percentage of the cost to buy a house there are some fixed costs as well. It's important to remember that EVERYTHING in real estate is negotiable. There are ways you can negotiate to reduce or even eliminate the amount of out of pocket cost you have during the transaction and at closing.Here are some of the most common costs:Down Payment: This varies depending on loan type. There are some loans, like USDA and VA that are 100% loans, meaning that you don't have to have a down payment. The average first time home buyer uses an FHA loan, and often has a down payment of 3.5% of the purchase price of the house.Closing Cost: Closing costs are the cost of buying the home, including the fees paid to the escrow and title company, the fees paid to your lender for doing the loan, HOA fees, real estate commissions, property taxes, and any other cost for the home purchase.Inspection Fees: A home inspector will review the home's condition and give you a report on the condition and areas of concern in your new home. You might also need to do a wood eating organism (termite) inspection. These fees vary slightly from company to company. Appraisal Fee: The appraisal is a tool to prevent the lender from paying more than what the fair market value is for the home. The appraiser will charge the lender a fee, and the lender will inteun pass this fee on you the buyer. This fee is often included in teh closing costs, but can be paid directly.Earnest Money: This is a deposit made to the seller to indicate your good-faith in purchasing the house. This money remains yours throughout the transaction and coutns towards your total closing costs and down payment, unless you break the contract, in the which case, the seller gets to keep this money as damages.

A common question among first time home buyers is "What not to do when buying a home." Many first time home buyers don't know what to do, and what not to do when buying a home. In this video, I'll be discussing the five biggest mistakes I see in the home buying process. Want to learn more? Check out my playlist How To Prepare To Buy A House. https://www.youtube.com/playlist?list=PLfINoTnqEsmEeeAAXyYWo8g_2ldXmOEMd➡️Like the information I share on this channel? Make sure to hit the subscribe button and turn on notifications so you'll won't miss a single episode.⬅️

This episode is all about how to get a VA loan for veteran and military first time home buyers. Top VA lending expert, Jimmy Vercellino, joins me to discuss the VA loan for first time home buyers. This amazing loan is a benefit earned by our military and veterans and is arguably the best loan product on the market. Jimmy and I will discuss what a first time VA buyer needs to know to get a loan. We're covering what a VA loan is, who is eligible, the Certificate of Eligibility, the VA guarantee, and much more. Want to learn more? Check out my playlist How To Prepare To Buy A House. https://www.youtube.com/watch?v=qcY1vLMiALo&list=PLfINoTnqEsmEATYcrXO6Ei3NAhVdFULlH➡️ Like the information I share on this channel? Make sure to hit the subscribe button and turn on notifications so you'll won't miss a single episode. ⬅️

The Phoenix real estate market is experiencing a shortage of homes for sale, especially in the $200k-$300k price range, where many first time home buyers are competing to purchase their first home. While most buyers are looking for that move-in ready home, there is another option, the FHA 203k Construction Loan. This FHA loan allows a buyer to purchase a home that needs some remodeling work to be done, be a part of the designing of their dream home, and get that work done, often with instant equity in the home. This week, my friend, Dyan Neilsen, who is a licensed mortgage officer and branch manager for Sun West Mortgage joins me to talk about this exciting loan program.Don't forget to join us on facebook at facebook.com/azfirsttimehomebuyers. Want more information on down payment assistance in Arizona? Check out our website at www.yourfirsthomeaz.com. If you have any questions about mortgage lending in Arizona, you can reach Dyan Neilsen at:Dyan Nielsen NMLS ID 374423Producing Branch Manager D: (602) 962-7505 | M: (480) 220-0480F: (866) 655-7664E: dyan.nielsen@swmc.comSun West Mortgage Company, Inc. NMLS 3277Branch NMLS ID 1986585 | 1521 E Elliot Rd., Ste 104, Gilbert, AZ 85234

What are points and a rate lock, and why are they important? This week Travis Schmidt from Fairway Independent Mortgage and I are talking all about points and a rate lock. When buying a home, points and rate lock are a way to control the interest rate that the lender is charging you. A rate lock is when your lender agrees to lock in your rate throughout for a specific time, while points are where the lender allows you purchase a better interest rate than what is being offered, or offer you a credit for a higher rate to help with costs. Want to learn more? Check out my playlist How To Prepare To Buy A House. https://www.youtube.com/playlist?list=PLfINoTnqEsmEeeAAXyYWo8g_2ldXmOEMd➡️Like the information I share on this channel? Make sure to hit the subscribe button and turn on notifications so you'll won't miss a single episode.⬅️

This week Travis Schmidt from Fairway Independent Mortgage and I discuss how to shop for a loan. There are many things to consider when choosing a lender, and one of the most important is what is the cost. So, how do you compare loans to see what is the best deal? Travis will share his insight on getting the best deal.If you have any questions about mortgage lending in Arizona, you can reach Travis Schmidt at:Travis SchmidtFairway Independent MortgageSr. Loan OfficerNMLS: #795903(602)312-4032Travis.Schmidt@FairwayMC.com

This week Mark Sheck from Cherry Creek Mortgage and I discuss why different lenders have different requirements for getting a loan. While the government has it's own requirements for backing these loans, called overlays, individual lenders can have their own set of rules on top, called overlays. We're also talking debt to income ratios, or DTI and it's effect as an overlay in the lending process. If you have any questions about mortgage lending in Arizona, you can reach Mark Sheck at:Mark SheckBranch Manager/Licensed Mortgage ProfessionalNMLS # 2100771630 S Stapley Drive, Ste. 114Mesa, AZ 85204Direct: 480-214-2823 | Fax: 480-304-9367

There are a few different types of mortgage lenders you can use when buying your first home. Mark Sheck, a licensed loan officer with Cherry Creek Mortgage, joins me as we talk about the two most common types of mortgage companies used by first time home buyers; mortgage banker vs. mortgage broker. Both types of lenders have their own unique advantages and disadvantages which should be considered when selecting a mortgage company to help you purchase your first home. If you like the information I share, please make sure to subscribe to the show.If you have any questions about mortgage lending in Arizona, you can reach Mark Sheck at:Mark SheckBranch Manager/Licensed Mortgage ProfessionalNMLS # 2100771630 S Stapley Drive, Ste. 114Mesa, AZ 85204Direct: 480-214-2823 | Fax: 480-304-9367

This week on The Arizona First Time Home Buyer Podcast I talk with Mark Sheck, a licensed loan officer in Arizona, about the most common types of loans used in Arizona for first time home buyers. We discuss the pros and cons of conventional financing, FHA, VA, and USDA loans. Mark is a wealth of information, and he shares his 26 years of lending experience to help first time home buyers gain the knowledge and confidence to purchase their first home.If you like the information I share, please make sure to subscribe to the show.If you have any questions about mortgage lending in Arizona, you can reach Mark Sheck at:Mark SheckBranch Manager/Licensed Mortgage ProfessionalNMLS # 2100771630 S Stapley Drive, Ste. 114Mesa, AZ 85204Direct: 480-214-2823 | Fax: 480-304-9367

This week on The Arizona First Time Home Buyer Podcast I talk with Mark Sheck, a licensed loan officer in Arizona, about the effects credit has on getting a mortgage. Our discussion will include: How does your credit score affect your ability to get a loan? What do lenders look for on a credit report? Are there things that are weighed differently on a credit report? Student loan calculations, and more.If you like the information I share, please make sure to subscribe to the show. If you have any questions about mortgage lending in Arizona, you can reach Mark Sheck at:Mark SheckBranch Manager/Licensed Mortgage ProfessionalNMLS # 2100771630 S Stapley Drive, Ste. 114Mesa, AZ 85204Direct: 480-214-2823 | Fax: 480-304-9367

This week on The Arizona First Time Home Buyer Podcast I discuss how to purchase your first home in Arizona with little or no cash out of pocket. There are 3 main ways that many of the buyers I work with use to do this. They are:Down Payment Assistance, Seller Concessions, and 100% LoansPlease note that using seller concessions can make getting your offer accepted much more difficult, especially in a tight seller's market, because you are asking the seller to take money out of their pocket and pay your costs.It's also important to note that almost all of the buyer's I've worked with still put down an earnest deposit (although they were often able to get most or all of this back at close of escrow), and they paid for their own inspections.

This week on The Arizona First Time Home Buyer Podcast I talk with Tammy Richardson, a licensed loan officer in Arizona about how to chose the right loan officer to help you purchase your first home. Tammy shares her industry knowledge on the importance of in-house processing and underwriting, getting the right loan program, and how not all lenders are equal. Tammy Richardson: Loan officer Licensing – AZ license 1005291, NMLS 1906275. Peoples Mortgage AZ License 0904164 company NMLS # is 6274. Peoples Mortgage is an Equal Housing lender. https://trichardson.loans.peoplesmortgage.com or 602-434-7182 or trichardson@peoplesmortgage.com.

This week I discuss how to choose the right REALTOR for the job of helping you buy your first home. Who you choose to represent you as your agent is one of the MOST IMPORTANT decisions in the home buying process. I discuss the methods and questions I use to help find a great REALTOR in other parts of the country to assist my friends, family, and clients who are moving out of state.

This week I'm joined by Tammy Richardson, a licensed loan officer with People's Mortgage. We discuss what you need to get prequalified for a mortgage. We discuss what documents you will need, the difference between prequalification types, and the difference in get prequalified for a VA loan. If you have any questions about getting prequalified you can reach Tammy at:Tammy Richardson: Loan officer Licensing – AZ license 1005291, NMLS 1906275. Peoples Mortgage AZ License 0904164 company NMLS # is 6274. Peoples Mortgage is an Equal Housing lender. https://trichardson.loans.peoplesmortgage.com or 602-434-7182 or trichardson@peoplesmortgage.com.

This week I discuss the first step in the home buying process: financial preparedness. I'll be discussing why you NEED a budget, setting financial goals and tracking them, and understanding your credit report. You'll also learn when it's the right time to contact a real estate and mortgage professional.Be sure to check out Dave Ramsey's website for his free budgeting tool at daveramsey.com. Be sure to check out his other great tools and tips for financial health.

This week I discuss the 3 main questions I would have, right now, in the midst of the corona virus outbreak as a first time home buyer. First, what's going on with the real estate market? Second, is it safe to be in the real estate market? And finally, where is the real estate market headed? Join me as I answer each of these questions for the Phoenix real estate market.

This week I explore the Top 5 myths that keep first time home buyers from purchasing their first home. I will explore what the myths are, and why they aren't true. In my experience, the 5 myths that most hurt first time home buyers are:I can't afford a mortgageYou have to put 20% downYou can't get a loan with debtBuying a home is too expensiveYou need perfect credit