Thinking about buying a home in Hampton Roads? Congratulations! You’ve chosen very well. To make that transition as smooth as possible, we’ve got some helpful hints and tips.
- Buy the house you love when you love it. If you’re waiting for the “best time” to buy, you’ll miss out on a great house in Norfolk, a great neighborhood in Virginia Beach, a great school district in Chesapeake. The real estate market is cyclical, but not in any way that makes buying a house in August any better than buying one in December. If you see a house, you like, make it your home before someone else does.
- Get Pre-approved for your home loan. The biggest mistake new home buyers make is confusing pre-qualified with pre-approved. Being pre-approved means you’ve shared your financial information with your bank or lending institution and you’re clear on what you can afford. This also means that if you can afford to live near the Oceanfront, your Realtor can seek out homes that fit all of your sand-between-the-toes needs.
- Don’t play with credit cards. If you’re getting ready to buy a house, the worst thing you can do is start opening credit cards and filling rooms you don’t own yet. As a home buyer, you’re going to have people evaluating your financial stability so keep your money in your pocket until after the sale.
- Work with a professional realtor. You may think you’re saving money by going it alone, and if you have a ton of free time on your hands you may be correct. But consider this: a professional realtor does more than facilitate the sale once you’ve found your dream home. The biggest value they offer is unearthing any hidden issues with your home before you’re committed to it. A professional realtor knows everything about your home, your neighborhood, your school district, your tax assessments, any fees, any liens, property disputes and more. By working with a professional you get your own personal advocate.
Follow these tips and you’ll set yourself up for smooth sale-ing!
Norfolk is a cornucopia of various restaurants, shops, and museums. While most of these things can be enjoyed in the day time, many new residents and visitors want to know about the night life or evening social events to enjoy after the work week is over. Here is some insight into some interesting places that can be enjoyed after dark in Norfolk.
Time Lounge
Located on Granby Street as part of the “Granby Street” nightlife, Time Lounge in Norfolk offers drinks, dancing, and revelry. With famous live DJs playing the hottest new songs, Time Lounge offers a party experience like no other. With frequent celebrity sightings, Time Lounge in Norfolk makes every guest feel as though they are in a sophisticated big city nightclub.
BAR Norfolk
Catered to college students, BAR Norfolk offers a dress down party experience with no dress code and a bar to dance on. Live DJs play all of your top 40 hits, and there is a pool table for those who aren’t into dancing. Bar food munchies are available to those who want a little more substance than an alcoholic beverage. Ladies are admitted free all night on Thursdays, and it is open from 4PM-2AM daily. BAR Norfolk is really where the party never stops.
Have a Nice Day Café
With the only lighted dance floor in the area, Have a Nice Day Café in Norfolk plays tunes ranging from disco to rock. Claiming that Tuesday, Thursday, and Saturday nights are the most popular times to come out to Have a Nice Day Café, they offer a variety of drink specials and a college night on Thursdays where they play music from the 90’s to the present. Cover charge for Have a Nice Day Café starts at 7PM weekdays and at 9PM on Fridays and Saturdays.
The NorVa
The NorVa offers live music, a broad drinking selection, and a good time. Enjoy live music while sipping on your favorite brew. Decorated with collected music memorabilia, The NorVa is also connected to Kelly’s Tavern and Backstage Café, a popular local restaurant chain known for its extra large burgers and a casual, inviting atmosphere. Housing up to 1,200 guests, the NorVa has hosted such popular musical artists as Ashlee Simpson, Justin Timberlake, Ringo Starr and James Brown.
This is merely a handful of hot spots available in Norfolk. The nightlife is really something to experience for yourself, as it is unmatched by other Tidewater cities. Do yourself a favor and head out to Norfolk tonight for a fabulous night out.
If you are interested in moving to Norfolk, Nancy Chandler Associates would be happy to help.
One of the biggest financial decisions you make is purchasing or refinancing a home. Most of the time, consumers are not aware of the right questions to ask during this process. There are literally thousands of loans, mortgage companies and lenders to choose from. The numbers of available options can make this a very confusing prospect.
Choosing the right person to handle your loan is vitally important. It is an established fact that every business needs to make money to stay in business. If you find a company that puts the client’s interests first, they will still make the profits they are seeking.
Some companies offer deep discounts. This is a buyer beware situation. Many times companies that make these kinds of offers are overwhelmed with clients and they cannot give each one the attention they need.
It is also common practice of companies with a huge volume to pass their clients from one person to the next. It is better to find someone who will stick with you, the client, from the beginning to the end of the transaction. By passing the client from one person to the next, there is no one person taking responsibility if something goes wrong. Make sure the company you are working with holds its loan officers personally accountable for the progress of the loan from beginning to end. This is not something you do every day and this experience needs to be a pleasant one.
Ask how long the loan process will take. There is no reason for a company to take months to complete the process. From beginning to end should take no more than two and a half to three weeks.
Remember, you want a loan officer that will act in your best interest and not in his or hers. This person should treat you the same way they would like to be treated in the same situation. It is there responsibility to make the process as easy as possible on you.
The question still remains: How can you tell if your loan officer is reputable?
Ask your questions and gauge the answers carefully.
* Is your loan officer evasive?
* Does the loan officer make you feel foolish for asking questions?
* If you have concerns, does your loan officer address then with patience?
Do not be caught up in a bait and switch routine. Non-reputable loan officers may give you a quote and then when it comes time to sign the papers, there are totally different figures present. Your interest rate has changed; the terms are different than what you were originally quoted. You call your loan officer and they tell you that your credit changed and you now do not quite qualify. You sign the papers anyway, just to be done with the process.
You are now a victim. Do not allow this to happen to you. Sometimes unscrupulous lenders will tell you what you want to hear to get the process started, and then make the switches along the way. They know you will go ahead and sign at closing because you are eager to get into your new home, or if you are selling your home, they know your need for cash may be greater than your desire to repeat the lending process.
If nothing has changed since you first applied for the loan – you made no major purchases, you paid all your bills when they came due, your house was not appraised differently – then you should be getting the same rate you were quoted in the beginning.
Interview more than one lender before you actually agree to allow one to handle your loan. Ask the same questions of each one to be certain you are comparing apples to apples. With all the loan options available, the best loan officer is the one who will take the time to explain your options and recommend the best loan for your circumstances. The folks at Nancy Chandler Associates, REALTORS, Licensed in Norfolk, Virginia, can help you make that decision.
