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Your Feelings Index 

Know where you are on the feelings index. Buying real estate is an expression of how you feel about taking on the repsonsibility of owning a property.

Know the relationship with yourself...how do you feel about where you live now and where you would like to live or invest.  What is your risk aversion? Do you have a partner? How do you and your partner relate beyond the goey ooey talk. 

How do you feel about living in the south / New Orleans / specific neighborhoods?  

What is you your lifestyle? How will this be a part of your investment? Email us and let us send you a complete list to help you decipher what is the best move for you.

The Approach

1) Define who you are and what you are all about.

2) Identify and clarify what kind of place and space you will be comfortable with and how you will rate places relative to what makes you comfortable.

3) Have a complete list, (provided by John Anthony Realty) and take this list to help you through the buying process, refining points 1 and 2 until you get the place you want.

About you

What do you want in the relationship?

This is the most important question you have to answer before you get prequalified or even look at the first house for sale.

One need to have a clear understanding that asks one self the questions, "what is my lifestyle?" and "what is my other half, my children's, my pet's routines, needs, wants and desires?"

Once you have this discussion with those closest to you, (and yourself!) take a step back and then make a comprehensive list of everything you want in a place, and who you will be sharing those spaces with.  

Start the process of thinking, "How would I feel in a certain kind of space?  How would others in my life feel?"

At John Anthony Realty, we will provide you with a checklist to help you through this part of the process.

About others

Interestingly when you go to make a big decision like buying a home, everyone and their brother has an opinion.  What will become quite apparent after a while is those with the strongest opinions generally tend to have a perspective or objective that serves their needs and not yours....and this goes for family, friends and the real estate people you may come into contact with.

As such, it is really important to know who to count on and who's opinion really counts.  At John Anthony Realty we call these people the "stakeholders".  These are the people who have something to lose in the relationships we gather in the process of buying a house.  

1) Whomever is giving you financial support to put down a downpayment or provide a loan.

2) Professional licensed backed advice such as a licensed Contractor, mortgage broker, attorney or a licensed Realtor®.  

These two type of people have something to gain in your transaction and more importantly something to lose.  They are held to ethical and legal boundaries, (or have other people in their business) who have the legal responsibility to be ethical and clear on how they do business and what is and is not disclosed in their dealings with you.

All other people are noise....these include information sources like Trulia and Zillow...these are not licensed to sell real estate and so are not bound by an ethical means and methods of any kind.  This means using their data is like using a floating log going down the Mississippi as the foundation for your home and paper towels as your roof.

Other noise makers will be people who talk about real estate means, methods and prices who have not bought or sold anything in 20 plus years.  Any information from anyone that is more than six months old means nothing...to an appraiser, to a bank and mostly to you.

Very carefully consider who the stakeholders will be helping you to buy.  Buying a home is more than an investment.  Some people try and say, "well I don't care about all that mumbo jumbo investment talk! I am going to live in the house forever and a day! I don't care about nuthin' but buying now, now now! "  

The reality is buying anything is an investment.  You are taking a resource, (money) and exchanging it for a bundle of rights for a period of time.  Unless you are independently wealthy to the point of money doesn't matter...it is an investment...and should be treated as such.  If money is no object, at John Anthony Realty we will still respect that money to get you the best deal possible in the fastest amount of time...without the noise makers distracting from you checklist in the "About you" section

The Best Advisors you can use

These constitute the best advisors you can use and how to utilize them when buying in the New Orleans area:

1) People that live in the area you like...walk the streets, bike the area and talk to people.  Nothing will give you unbiased and straightforward advice as good as this.  New Orleans is a place that is easy to be you...and easy to talk to others.  You can watch videos, iPads and all the technology and websites in the world...but nothing beats being in the moment and in the physical place.  To understand New Orleans is to walk the streets, feel the breeze, the sun, the shade. When one takes in the smells of the flowers, the touch of the rain drops off a 150 year building, the sun against a brightly colored backdrop of a home that makes you smile.

visit stoopstory.com and start to get a feel of the people and places....this will be your greatest asset in understanding the world you about to enter 

2) Professional, experienced Realtors® who live, work and invest in the areas they are showing you.  

There are buyers think that a Realtors® job consists of opening doors and talking light superficial talk about a house as if you are on the Travel channel, then in the middle of a tour, we break for a 30 second commercial, they get the keys to the house and everything is hunky dory.  

That will happen...never....especially in New Orleans.  

There are several competent, knowledgable Realtors in the metro area but before you go looking at anything, make sure the agent can complete a list of questions that include:

1) How long have you lived in the metro area?

2) Do you own a home here? Where and why?

3) Do you own investment property here? Where and why?

4) What is your professional background? Do you have any additional certifications or qualifications beyond a real estate license?

5) Can you explain the historic architecture styles in 5 minutes or less?

6) What differentiates you from other Realtors®?

For more information about choosing the right Realtor® for you, visit realtorgumbo.com

 

3) Professional, local mortgage professionals

Technology is great...it's application in mortgage world not so much...at least in certain parts of the country like New Orleans.  This is primarily because we have a variety of housing stock and means and methods for living on what is in essence a series of islands bound by water at the lake and water at the river and bodies of water everywhere else.

As such, out of town based mortgage companies struggle to understand our architecture, culture, people, places and how we value properties....they get very confused, all the way down to the end of financing until the deals completely fall apart at the seams of a poorly made pair of cheap jeans.

Luckily for Buyers there is a strong community of local banks, mortgage companies and credit unions that have the pulse of the real estate environment and are receptive and ready to loan on all kinds of homes...both commercial and residential at very competitive rates.  A large part of this is due to the intimate relationship mortgage professionals have with the New Orleans area...a series of neighborhoods that are not spread out like other areas....much like a small town, with their individual idiosyncrasies that make it distinctly New Orleans.

These finance professionals can help direct the best way to leverage your cash on hand when negotiating a home.

Other stakeholders include local insurance companies who understand the complicated nature of flood elevation certificates to get you the best rates and help you understand wind and hail policies and how they affect your bottom line. 

Your experienced Realtor ® will be able to provide a list of these professionals that best suits what you are looking to buy.