*A New Lending Landscape *
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It may seem like a tough time to be in the market for a home. In the wake of
the sub-prime mortgage crisis and the related banking upheaval, lenders have
tightened their purse strings and put the brakes on issuing homes loans, at
least at the rates and terms that were prevalent just a year to six months
ago. But not all the news is bad for today’s buyers.

First, this new approach to lending can reduce the risk that you be a victim
of unscrupulous lending practices. As a result, this more stringent approach
may work to your benefit.

Use this time to learn as much as you can about the current lending
landscape. Read articles in the newspapers and online. Reach out to your
Realtor and ask for his or her interpretation of the recent developments. It
is also wise to spend time analyzing your own finances including your
income, assets, expenses and credit score. If you know your own budget and
financial qualifications inside and out, you will know what is realistic and
what is too good to be true.

Once you have identified what you want and are prepared with your own facts
and figures start making some calls. Banks and mortgage companies may have
reined in their lending, but it is still a free and competitive marketplace.
Search for the best rates and terms available. However, if you feel you may
get a better offer in a few weeks or months, and your timetable permits it,
wait a bit. The advice of your real estate professional will be invaluable
when making this decision.

Finally, remember that the real estate marketplace still favors buyers. The
inventory of homes exceeds the current demand in most locations, so you have
the opportunity to be more selective and a little more demanding at the
bargaining table.

*Hello Inspector*
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There are many variables at play during a real estate purchase; so when you
have the chance to control one of those factors, it can be very appealing.
That may be one of the reasons most buyers choose to “lock in” their
mortgage rate.

Now the question becomes, “How do I find a qualified inspector?” Referrals
are probably the best bet. Ask your real estate professional, friends and
family who they recommend. But no matter who you choose, you need to ask a
few key questions.

1. Are they a licensed home inspector? Most states require inspectors to
hold a professional license. Ask to see the license or that a copy is faxed
to you.

2. What are your qualifications? Find out if they take continuing education
courses, how long they have been in the business and how many inspections
they have completed. You may also ask for a list of references.

3. Are they a member of a professional association? There are national and
many state associations for home inspectors. Ask to see their membership ID.

4. Are they insured? Inspectors or their employers should carry Errors &
Omissions (E&O) insurance as protection in case something is missed or
overlooked.

5. What process do they follow for the inspection? Here you want to find out
if you will be able to attend the inspection. (Note: this is a great time
for you to learn about the property first hand.) Also inquire about the cost
and when the final inspection report will be ready.

*What Are People Saying?*
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“Over the past several years, I’ve had the pleasure of providing home
inspections for many of John and Chris’s clients. I’ve always been impressed
with their high level of professionalism, attention to detail, and genuine
concern for the best interest of their clients. In my opinion John and Chris
demonstrate the qualities every homebuyer and seller should insist on in a
Realtor.”

Alan Keyes
President, Pillar To Post Professional Home Inspection
Bend, Oregon