1. Price your home aggressively Setting the right price for your home is the single most important decision you will make when you decide to sell. Go too high and you risk turning off every
3 Things to Avoid When Preparing to Purchase Real Estate
Dated: August 23 2013
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- Change careers: This is different than just changing jobs. If you have recently gotten a new job in the same field, at the same or better pay, and your past history shows long, solid employment, all should be fine. Changing careers entirely is more of an issue. You have no history of steady employment and income in the new field. Since you’re new to the field, you may be bringing in less income than in your previous career. That’s why a recent career change makes your mortgage application less appealing to a loan officer.
- Open new bank accounts: When you apply for a loan for real estate you need to provide bank statements for several months. Although your money is still in your possession, moving it to new bank accounts generates a series of big withdrawals and deposits which gives an image of instability. If you have withdrawn large amounts of money and not redeposited it, that looks even worse. Even if you invested the money in something solid, you no longer have the cash and thus appear less solvent.
- Buy Big Ticket Items: The reason for this is simple. When reviewing a loan application for real estate one of the biggest things a lender takes into consideration is your debt-to-income ratio. Purchasing expensive items on credit can negatively impact your debt-to-income ratio. Wait until after you’ve closed on your home to buy new furniture or appliances
Rick Diaz
My name is Rick Diaz, I'm founder and President of Mainstreet Realtors. I began my real estate career in 2000 working for the family firm while completing my degree in business at the University of La....
Latest Blog Posts
If you are thinking about Buying Real Estate in the near future, there are three activities you should avoid. These are normal things we all do from time to time, but are unwise when contemplating a
1. Overpricing You obviously want to get the highest possible price for your home, but you won’t be doing yourself any favors if you price your home higher than the comps, i.e. the comparable
Once you've decided to sell your home, one of the first steps you should take is getting the home appraised. The value of your home is determined by a real estate appraiser who helps home sellers
Based on information from California Regional Multiple Listing Service, Inc. as of September 23, 2026 5:28 AM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
