How Much Home You Can Afford
First-time buyers are often unsure about the financial aspects of buying a home, and you may have many questions swirling in your head. How much can I afford? Do I need a large down payment?
Your home price range will be determined by your income, credit history, the cash you have for a down payment and closing costs, and your debt. How much you earn compared to how much you owe will likely determine how much the bank allows you to borrow.
The financial rule of thumb is: your total monthly debt service, which will include your monthly mortgage, shouldn't be more than about 36 percent of your gross monthly income. Most experts say that your monthly housing expense, including taxes and insurance, should not exceed about 28 percent of your gross monthly income.
Naturally, every situation is different, and each lender has different rules about working with buyers. A number of choices within your control can affect your monthly payment as well. For example, you might choose an adjustable rate loan, which has a lower initial payment than a fixed rate program. Similarly, a larger down payment may lower your monthly payment.
If you'd like more information about how much home you can afford, please call or email The Davidson Team. We can help you get the mortgage information you need.
New Listing: 2027 Woodridge, Wenatchee, WA 98801
You can find this week's featured listing at:
http://www.wenatcheehouses.com/address.php?property_ID=12
A must see! Won Best Overall Value, Best Technology, Best Kitchen & Best Master Suite in the 2007 NCHBA Tour of Homes. Brand new Craftsman style home with gorgeous water feature and fully landscaped yard. Outstanding master suite with jetted tub, beautifully tiled shower and large walk in closet. Birch cabinets in chestnut and stainless steel appliances. Includes a top-of-line sound system!
Warm regards,
The Davidson Team
http://www.wenatcheehouses.com/address.php?property_ID=12
A must see! Won Best Overall Value, Best Technology, Best Kitchen & Best Master Suite in the 2007 NCHBA Tour of Homes. Brand new Craftsman style home with gorgeous water feature and fully landscaped yard. Outstanding master suite with jetted tub, beautifully tiled shower and large walk in closet. Birch cabinets in chestnut and stainless steel appliances. Includes a top-of-line sound system!
Warm regards,
The Davidson Team
First Time Home Buyer: Part 2 of 8
Considering Making a Move?
When you're thinking about making a move, the first steps in the home buying process are:
1. Deciding when you want to make your move
2. Considering how much money you would like to spend
3. Thinking about what type of home you would like
4. Deciding where you would like to live
The next step is usually finding out how much loan you can qualify for and deciding the type of financing will work best for you.
If you're in the "thinking about it" stage, you will want to speak with a lender about receiving pre-qualification. If you choose to become pre-qualified, the lender will determine how much you can borrow based on financial information you provide to the lender. Pre-qualification is useful for making preliminary decisions about how much home you can afford, but does not assess your creditworthiness.
You will need to fill out a loan application and go through the lender's loan approval process at a later date. When you decide to buy a home, you will want to become pre-approved for a loan prior to beginning your home search.
Please don't hesitate to call or email The Davidson Team for additional information about the buying process. Our goal is to provide you with practical information as you consider your next move. And, when you're ready to make your move, we'll help you find your dream home and handle all the details of the transaction, so all you need to do is pack!
Blaine's Recipe of the Week - 10/3/07
Pot Roast Tacos and Grilled Corn
2 pounds beef shoulder
Kosher salt and freshly ground black pepper
Extra-virgin olive oil
2 cloves garlic, smashed
1 large onion, sliced
1 (28-ounce) can crushed tomatoes, (recommended: San Marzano)
1 tablespoon ancho chile powder
1 tablespoon cayenne pepper
1 tablespoon ground cumin
3 bay leaves
Vegetable oil, for deep frying
6 fresh medium corn tortillas
Kosher salt
3 cups finely shredded white cabbage
Guacamole, recipe follows
1/4 bunch fresh cilantro leaves
For the simple salsa:
1 (28-ounce) can whole tomatoes, drained, reserving the juice (recommended: San Marzano)
1 small red onion, roughly chopped
1 Serrano chile
1 garlic clove, roughly chopped
2 limes, juiced
1/2 cup chopped cilantro leaves
Kosher salt and freshly cracked black pepper
Extra-virgin olive oil, for drizzling
Season all sides of the beef with a fair amount of salt and pepper. In a large Dutch oven, or other heavy pot that has a tight cover, heat 2 tablespoons of olive oil over moderately high heat. Add the garlic and the beef to the pot, browning the meat on all sides, taking the time to get a nice crust on the outside. Add the onion and allow to lightly brown, about 3 to 4 minutes. Add the crushed tomatoes, plus 1 tomato can of water, spices, season with salt and pepper, to taste, and add enough water to cover the meat. Bring to a boil then reduce heat and simmer with a lid for 3 hours until the meat is fork tender. Let meat cool in the liquid. Shred meat, add 3 count of olive oil and set aside.
Heat a large pot of oil over medium heat. When oil reaches 350 degrees F, fry the corn tortillas 1 at a time. Place the tortilla in the oil and wait about 30 seconds. Then use the handle of a wooden spoon to press down into the center of the tortilla and fold it in the middle. Hold down for a few seconds waiting for the tortilla to form into taco shell and then drain on paper towels. Season with salt.
For the simple salsa: To make salsa, pulse all the ingredients, except the tomato juice, in a food processor. Add the reserved tomato juice if the salsa is too thick. Drizzle salsa with olive oil, cover with plastic wrap and set aside, allowing the flavors to marry.
To assemble the tacos: Lay some shredded cabbage as a base. Top with some shredded beef. Serve alongside Guacamole and salsa. Garnish with fresh cilantro leaves.
Guacamole:
6 ripe avocados
3 limes, juiced
1 medium yellow onion, chopped
1 garlic clove, smashed then minced
2 serrano chiles, cut into rounds
1 big handful fresh cilantro with stems, about 1/2 cup, finely chopped
Extra-virgin olive oil
Kosher salt and freshly ground black pepper
Halve and pit the avocados. With a tablespoon, scoop out the flesh into a mixing bowl. Mash the avocados using either a fork or potato masher, leaving them still a bit chunky. Add the remaining ingredients, and fold everything together. Drizzle with a little olive oil, adjust seasoning with salt and pepper and give it 1 final mix with a fork.
Lay a piece of plastic wrap tight on the surface of the guacamole so it doesn't brown and refrigerate for at least 1 hour before serving.
Corn:
Grill corn until outside is blistered and has some color. Spread the following sauce on corn: 2 parts sour cream, 1 part mayo and 2 tablespoons cilantro. Then sprinkle with parmesean cheese and chili powder, and top with lime.
2 pounds beef shoulder
Kosher salt and freshly ground black pepper
Extra-virgin olive oil
2 cloves garlic, smashed
1 large onion, sliced
1 (28-ounce) can crushed tomatoes, (recommended: San Marzano)
1 tablespoon ancho chile powder
1 tablespoon cayenne pepper
1 tablespoon ground cumin
3 bay leaves
Vegetable oil, for deep frying
6 fresh medium corn tortillas
Kosher salt
3 cups finely shredded white cabbage
Guacamole, recipe follows
1/4 bunch fresh cilantro leaves
For the simple salsa:
1 (28-ounce) can whole tomatoes, drained, reserving the juice (recommended: San Marzano)
1 small red onion, roughly chopped
1 Serrano chile
1 garlic clove, roughly chopped
2 limes, juiced
1/2 cup chopped cilantro leaves
Kosher salt and freshly cracked black pepper
Extra-virgin olive oil, for drizzling
Season all sides of the beef with a fair amount of salt and pepper. In a large Dutch oven, or other heavy pot that has a tight cover, heat 2 tablespoons of olive oil over moderately high heat. Add the garlic and the beef to the pot, browning the meat on all sides, taking the time to get a nice crust on the outside. Add the onion and allow to lightly brown, about 3 to 4 minutes. Add the crushed tomatoes, plus 1 tomato can of water, spices, season with salt and pepper, to taste, and add enough water to cover the meat. Bring to a boil then reduce heat and simmer with a lid for 3 hours until the meat is fork tender. Let meat cool in the liquid. Shred meat, add 3 count of olive oil and set aside.
Heat a large pot of oil over medium heat. When oil reaches 350 degrees F, fry the corn tortillas 1 at a time. Place the tortilla in the oil and wait about 30 seconds. Then use the handle of a wooden spoon to press down into the center of the tortilla and fold it in the middle. Hold down for a few seconds waiting for the tortilla to form into taco shell and then drain on paper towels. Season with salt.
For the simple salsa: To make salsa, pulse all the ingredients, except the tomato juice, in a food processor. Add the reserved tomato juice if the salsa is too thick. Drizzle salsa with olive oil, cover with plastic wrap and set aside, allowing the flavors to marry.
To assemble the tacos: Lay some shredded cabbage as a base. Top with some shredded beef. Serve alongside Guacamole and salsa. Garnish with fresh cilantro leaves.
Guacamole:
6 ripe avocados
3 limes, juiced
1 medium yellow onion, chopped
1 garlic clove, smashed then minced
2 serrano chiles, cut into rounds
1 big handful fresh cilantro with stems, about 1/2 cup, finely chopped
Extra-virgin olive oil
Kosher salt and freshly ground black pepper
Halve and pit the avocados. With a tablespoon, scoop out the flesh into a mixing bowl. Mash the avocados using either a fork or potato masher, leaving them still a bit chunky. Add the remaining ingredients, and fold everything together. Drizzle with a little olive oil, adjust seasoning with salt and pepper and give it 1 final mix with a fork.
Lay a piece of plastic wrap tight on the surface of the guacamole so it doesn't brown and refrigerate for at least 1 hour before serving.
Corn:
Grill corn until outside is blistered and has some color. Spread the following sauce on corn: 2 parts sour cream, 1 part mayo and 2 tablespoons cilantro. Then sprinkle with parmesean cheese and chili powder, and top with lime.
First Time Home Buyer: Part 1 of 8
Why Buy Instead of Rent?
When you're thinking about buying your first home, it's essential for you to be confident in your decision to buy instead of rent. However, you may not know about the many great reasons to buy a home! Here are just a few of them:
Smart investment
When you invest in a home, it offers the possibility for appreciation in value. The equity becomes yours when you're still paying off your mortgage. You even get to live in it while your investment matures.
Tax advantages
Since both mortgage interest and property taxes are tax deductible, homeownership can save you significant amounts of money every year.
Planned housing costs
You decide how much you spend on your home, including repairs and improvements. Unlike renters, homeowners with a fixed-rate loan can lock in their monthly housing costs.
Improvements to your taste
You can choose which improvements to make your own property, such as a deck, kitchen remodel, or new paint, instead of needing permission from your landlord.
If you have more questions about making the decision to buy a home, please feel free to call (509-293-2214) or email (info@wenatcheehouses.com) The Davidson Team today!
Warm regards,
The Davidson Team
Featured Listing: 110 Spring Hill, East Wenatchee, WA 98802
You can find this week's featured listing at:
http://www.wenatcheehouses.com/address.php?property_ID=10
Beautiful single family rambler built in 2006. 3 bedrooms, 2 bathrooms plus den & office! Vaulted ceilings, Brazilian cherrywood floors, big lawn that is beautifully landscaped and fully fenced backyard. Outstanding family or retirement friendly neighborhood. A must see!
Warm regards,
The Davidson Team
http://www.wenatcheehouses.com/address.php?property_ID=10
Beautiful single family rambler built in 2006. 3 bedrooms, 2 bathrooms plus den & office! Vaulted ceilings, Brazilian cherrywood floors, big lawn that is beautifully landscaped and fully fenced backyard. Outstanding family or retirement friendly neighborhood. A must see!
Warm regards,
The Davidson Team
23.5% Rise In Home Prices
Last week, the Seattle PI shared that Wenatchee boasted a 23.5% raise in home prices for the second quarter. Click on the link below to read the article:
http://seattlepi.nwsource.com/local/329732_housing31.html
Warm regards,
The Davidson Team
http://seattlepi.nwsource.com/local/329732_housing31.html
Warm regards,
The Davidson Team
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