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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Home News Latest Stories Two Eagle Point men charged in Lake Creek Road poaching case Councilman stirs online dust-up with anti-marijuana post Visit birding hotspots along Bear Creek Greenway MADGE bust at Medford Walmart nets meth, $20,000 in cash Drug raid in Rogue River leads to two arrests Crime, Courts and Emergency Services Two Eagle Point men charged in Lake Creek Road poaching case MADGE bust at Medford Walmart nets meth, $20,000 in cash Drug raid in Rogue River leads to two arrests Emergency services Fire reported twice at Eastwood home; second call was real thing Politics and Elections Councilman stirs online dust-up with anti-marijuana post State certifies recount showing failure of GMO-labeling measure Time running out for O&C funds GMO vote recount still shows little change GMO labeling votes recounted under careful watch in Jackson County Education Traveling artist sets the stage for Ruch School amphitheater Ruch school class focuses on the natural environment Bethel Church helps families at McLoughlin Middle School Logos may offer students 'fifth year' at RCC or SOU St. Mary's plays host to youth robotics tournament Environment Monument expansion expected to increase tourism, protect resources Biologist resigns over LNG reporting failure Bird flu discovered in Winston backyard flock Jackson County holds back on enforcing GMO ban for now No fish, no funding for problem dams State News Oregon minimum wage rises to $9.25 Storm brings snow, cold to West Idaho shooting victim supported gun rights Dam problems force early fish transfer into Willamette Valley lakes Portland mattress stowaway cat back home Nation - World Obama makes Maduro’s ‘insolent Yankees’ line harder to sell Obituaries Leonard Lyle Roberts Death Notices Sidney A. Stitt Edward James Kelly Dean Seaney Weather Photo Galleries Since You Asked Videos Web Cams Mail Tribune 100 Shareable In memoriam: 2014’s notable deaths Looking back: Do you remember 2014’s biggest stories? Sports Latest Stories Ohio State’s Jones getting quite an education Ravens head of security charged with sex offense Going great lengths Lions’ Suh refuses to talk about incident Michigan AD Hackett: Harbaugh a long-term answer Varsity 541 College Sports Ohio State’s Jones getting quite an education Going great lengths Michigan AD Hackett: Harbaugh a long-term answer Facebook responses suggest Ducks win Balanced Beavers knock off Santa Barbara Pro Sports Ravens head of security charged with sex offense Lions’ Suh refuses to talk about incident Aldridge comes back strong in Blazers win Bryant's triple-double carries Lakers Lions’ Suh cleared top play Sunday Community Sports Business Latest Stories Rising prices bear fruit for local pear growers Dear Monty: Best start for 1st-time homebuyers Milken economist headlines Southern Oregon Business Conference Ride & Drive: 2015 Volkswagen Jetta TDI Silvio Calabi: Infiniti Q50 offers business-class driving Real Estate News Dear Monty: Best start for 1st-time homebuyers Rental owners group reports 2.48 percent vacancy rate More sales, but no change in residential housing median price People In Business People in Business, Dec. 3 Transportation Falling gas prices help spur travel at Medford airport Agriculture Rising prices bear fruit for local pear growers K-BAR ignites agriculture boom beneath Table Rocks Opinion Latest Granlund cartoon: Resolutions redux Matthew T. Mangino: Judges lament ‘Prosecution by PowerPoint’ Jim Brock: You don't have to take it anymore Our View: Caves expansion worth the wait Letters to the Editor, Dec. 31 Editorials Our View: Caves expansion worth the wait Other Views: Oregon incomes still lag behind Our View: Council is barking up the right tree Other Views: Roseburg VA director sets the right goals Our View: Thanks to four departing leaders Letters to the Editor Letters to the Editor, Dec. 31 Letters to the Editor, Dec. 30 Letters to the Editor, Dec. 29 Letters to the Editor, Dec. 28 Letters to the Editor, Dec. 26 Guest Opinions Guest Opinion: Loved one chose death with dignity in Oregon Guest Opinion: Forest thinning means water for the future Guest Opinion: Suit threatens family farms and democratic vote Guest Opinion: SOU pool decision short-sighted Guest Opinion: It's time for biologists to let OR-7 go dark Lifestyle Latest stories Dear Monty: Best start for 1st-time homebuyers Community blog: Ring in new flavors with year's last appetizers Community blog: We Don't Have To Conspire Against Good Health Mark L. Hopkins: New Year’s resolutions and more HealthStyle: New year, new you Food Community blog: Ring in new flavors with year's last appetizers Food for Thought: Tips for cooking when you have food allergies Food for Thought: Wintertime wining and dining Kitchen Call: The comfort of creamy soups Community blog: Baking contest finalists combine cookies, candies Home and Garden Dear Monty: Best start for 1st-time homebuyers Dear Monty: Can a rookie real estate agent be a good choice? Bathtub or shower: What’s best for you? Home Help: Home safety tips for a safe and happy winter season How NOT to install drywall Health Community blog: We Don't Have To Conspire Against Good Health HealthStyle: New year, new you Health Watch: Build up your glutes in the off-season Dr. Jeff Hersh: What's a monoclonal antibody? Dr. Murray Feingold: Have a happy and stress-free holiday Hiking Biking Faith (No heading) Churches, synagogs host seasonal events Bethel Church helps families at McLoughlin Middle School Milestones and Achievements Local landowners see no public good in proposed pipeline Pear Blossom queen has open heart surgery Hundreds enjoy Christmas dinner, gifts at St. Vincent de Paul SinceYou Asked: SBA would work with Mt. Ashland Ski Area about loan Fans, friends and family welcome home victorious SOU team at airport Columnist for a Day Rogue Healthy Aging Tempo Latest stories New Schneider Museum exhibits highlight First Friday Camelot's 'Fiddler' is a charmer Top 10 CDs of 2014 Ring in 2015 at a New Year's celebration near you Dobra Tea menu offers hundreds of brews Theater Camelot's 'Fiddler' is a charmer ACT presents reading of 'The Quality of Life' Meet the real Jacob Marley This Nutcracker ballet will have a superhero twist Plumbing the depths of meaning Music The Farr Side: Top 10 album count-up for 2014 Top 10 CDs of 2014 A tribute to Joe Cocker Ring in 2015 at a New Year's celebration near you SugarBeats headline an all-ages dance party at Historic Ashland Armory Community Events New Schneider Museum exhibits highlight First Friday Celebrate winter solstice with the Bad Film Society Tomaseen Foley's "A Celtic Christmas" returns to the Craterian Theater Stefan Baumann and Eugene Bennett highlight Third Fridays Dancing People Company celebrates the solstice Dining Dobra Tea menu offers hundreds of brews Food for Thought: Wintertime wining and dining Coffee shops roll out holiday-inspired drinks Over Easy serves 'pop-up' brunch Sundays Ooblies Artisan Waffle Sandwiches Tempo Videos Classifieds Jobs Autos Real Estate FEATURED » Obituaries Blogs TV Listings Movie Listings Oregon Outdoors Oregon Healthy Living Magazines & Special Sections NEWS NOW Two Eagle Point men charged in Lake Creek Road poaching case ... MADGE bust at Medford Walmart nets meth, $20,000 in cash ... Drug raid in Rogue River leads to two arrests ... Two Eagle Point men charged in Lake Creek Road poaching case ... MADGE bust at Medford Walmart nets meth, $20,000 in cash ... Drug raid in Rogue River leads to two arrests ... Dear Monty: Best start for 1st-time homebuyers Comment By Richard Montgomery More Content Now MailTribune.com By Richard Montgomery More Content Now Posted Dec. 30, 2014 @ 10:36 am By Richard Montgomery More Content Now Posted Dec. 30, 2014 @ 10:36 am » Social News Reader question: We want start looking for our first home. There is a ton of information available, but it feels conflicting and confusing. We want this to be a fun and exciting time in our lives, but we need some advice. Can you share your thoughts about how we should go about buying our first home? — John and Terrie V. Monty’s answer: Buying a home is a complicated and lengthy process you enter to achieve your ultimate goal. Experience has proven that your best ally is knowledge to aid you in navigating this process. While there is information available, it can be camouflaged in myth, misinformation and partial information. The best way to begin is to understand and accept that investing time in acquiring and utilizing the right knowledge is the surest and safest way to proceed. After all, this may be your single largest investment. Without this knowledge, the probability of long delays, unnecessary risks, simple yet costly errors and frustration increase exponentially. Ready, aim, fire A real estate transaction is a process, not an event. It is a series of smaller transactions, each very crucial for different reasons. Each one has a contract deadline. Independent companies serving the real estate industry execute these transactional tasks. Understanding how each task fits into the larger transaction and following each tasks progress toward meeting the deadline is important. Title insurance, inspection, testing and appraisal companies are examples of these other companies. This understanding allows you to challenge a procedure or reject advice you may not have questioned otherwise. While you and the seller are focused on this one transaction, everyone else involved is simultaneously working many transactions. Accepting the responsibility for getting the knowledge before you need it and for the outcome of each task is the surest course of action to achieve a positive experience. Here is a simple schedule that illustrates the steps a homebuyer will take in a typical real estate transaction. This process is best kept in the order listed to maximize efficiency, gain necessary information before you need it and increase the odds of an error free transaction. Steps in buying a home 1. Mortgage loan prequalification: Get pre-approval letter for an amount. 2. Determining preferences: Match preferences to loan amount available. 3. Gathering information: neighborhoods, schools, important amenities. 4. Choose an agent: Find the best agent for your circumstances. 5. Preview homes: Consider a start with an “area tour” of several neighborhoods. 6. Make an offer: This important document controls all that follows. 7. Negotiate: Understand the home’s range of value. 8. Mortgage application: confirmation of loan commitment. 9. Satisfy contingencies: inspection, appraisal, survey and more. 10. Pre-closing inspection: Ensure condition same as last look. 11. Closing: money exchanges hands and title transfers. 12. Moving day: the first day of your new home adventure. Not so fast Frequently, consumers fail to realize the complexity and risks until they have become a victim. Other customers become victims, but never realize it. Here are a few examples of actual events to demonstrate the potential consequences of being an uninformed consumer: ● Buyer paid $10,000 to replace a defective roof after receiving incorrect advice from both the real estate agent and buyers parents regarding home inspection procedures. ● Seller stood up at the closing when transaction failed because buyer was short of funds to close. Several parties failed to verify buyer’s funds. Missing this small detail damaged both parties. ● Elderly seller praises agent for quick home sale at full price. Agent was a close friend from church. Neither realized home was valued $25,000 under market. Selecting and managing your real estate agent Another important point to implement is to identify multiple real estate agents, interview three finalists with specific questions that help you sense they fit you, and your circumstances. Rate the quality of their responses and then decide. Now you have a good start These initial actions will prepare you for the exciting and complex process of buying a home. Envision you are playing a virtual reality game — only this is real life, real money and real essential. By anticipating and understanding the details of the process, you can take advantage of this knowledge to act and react efficiently and confidently to reach your goal. Richard Montgomery gives no nonsense real estate advice to readers most pressing questions. He is a real estate industry veteran who has championed industry reform for over a quarter century. Send him questions at dearmonty.com. By Richard Montgomery More Content Now MailTribune.com By Richard Montgomery More Content Now Posted Dec. 30, 2014 @ 10:36 am » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. 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