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Jutta "Utah" Burden

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Special Report From Jutta “Utah” Burden

 

 

The right or wrong decision when signing your home mortgage can mean thousands of dollars difference in interest paid. There are very important considerations to evaluate before you commit to a 15 or 30 year note. For many of us, our mortgage payment is the most important financial decision we’ll ever make. Doesn’t it make sense to know as much as possible about the financing of our home? Take the time to thoroughly investigate all of your options!

 

Unbelievably many of us sign the first mortgage placed in front of us. Typically the excitement of the new home purchase reduces the mortgage to not much more than an afterthought. What you read here could save you hundreds or even thousands of dollars. Your real estate professional has established relationships with the top lenders in your area. By aligning yourself with a professional agent you ensure all the financial steps are taken care of properly and economically.          

 

1. Utilize a Lender With Established Ties to an Agent- Lenders are much more  flexible with the real estate agents who have done business with them previously. Their relationship establishes them as a team member. The lender and agent work effectively together. That’s why a good agent can make substantial difference in setting up the most economical financing. And the right financing can, literally, save you tens of thousands of dollars over the life of your loan!   

 

2. Don’t Attempt Paperwork Alone- All the paperwork required to complete the purchase of a home can be quite intimidating and frustrating for a home buyer. Make sure you have your lender help you with all the paperwork. Get help from your team, your lender and agent. Their expertise will help alleviate the stress and it will prove to be invaluable before you sign your mortgage.

3. Look at All Your Options- Make sure you see at least 3 loan programs for your mortgage. Lenders have at least 5-7 programs and should work with you and your agent on deciding what is best for your circumstances. Evaluate all your options. After all, it’s your money you’re spending - not theirs!

4. Demand Service- There is little difference between a bank, savings and loan, or a mortgage broker when it comes to the competitiveness of their loan rates. The difference is in the service they provide. It is their job to serve you! You want to get the loan approved and move into your new home as quickly as possible, but don’t overlook the fact that you are the one spending the money and they are the ones who should cater to your needs. Don’t let the process become so intimidating that you lose that understanding.

5. Stay in Complete Touch- You should receive a written report from your lender concerning every step. This will ensure that no details are overlooked and there will be no surprises.

6. Negotiate a Flexible Loan- Don’t just accept the terms they lay down in front of you. Lenders are in the business of loaning money and they want your business. Make sure you examine every option available to you. If you negotiate a variable rate loan, many lenders have the ability to move you into a fixed loan if rates start going up. Make sure that you understand whether or not that is an option in the package you are looking at.          

7. Don’t Give Up on the First No- Initial decisions are not always final decisions. Going to a higher authonty can sometimes get you the loan, but do so with the assistance and compliance of your lender and agent. Many times, special circumstances, when explained properly to the person in charge, will win you the loan.      

 

8. Don’t Wait for the Bottom of the Market- The odds of your hitting the bottom of your market are about like the odds of you hitting your state lotto! You will almost never hit the bottom of a market. And trying to time it exactly right is often costly. It usually causes a person or family to miss out on the opportunity to purchase a very nice property. You’re better off simply negotiating the best rate and terms you can at the time you find a property. If interest rates go down, you can refinance. This is a much better approach because you won’t miss out on the property you’ve spent so much time locating.

9. Be Honest With Your Lender- Your lender wants to help you with your loan. The only time they get paid is when you get approved. The more information (good or bad) you provide your lender, the easier it will be for them to get an approval. It helps them present the loan in the best light. This in turn helps the loan get the highest approval rating.

10. Become Completely Educated- Pick your lender’s brain. Lenders will teach you all about your various options, even if you haven’t found the right property yet. They will be very patient with you while you are looking, especially if you have aligned yourself with the right agent. They understand all the up- front work will pay off in future business. Your agent will then continue to refer people to the courteous and service-minded lender on down the line.

11. Get Pre-qualified- Lenders will provide you with a certificate of pre-qualification. By getting pre qualified, you know exactly what financial parameters to stay within. Your agent and lender will consult with you and help you get qualified for the loan that best fits your needs. Many times, they are able to get you a larger loan than you may have thought possible.

Getting approved for a loan is often times much easier than you might think. I sincerely hope this brief report has been a help to you. If you would like a free, no-obligation consultation, contact me.

Warmest Regards,

Jutta "Utah" Burden

Find more crucial buying tips at   http://www.utahburden.com/Buyer-Resources/Buyer-Suggested-Reading

Special Report From Jutta "Utah" Burden

Real estate investment has provided many investors with positive cash flow, tax benefits and the satisfaction of making an impact in others lives. However like any investment, real estate has intricate nuances and market trends that when ignored can cause an investor tremendous heartache.

Unbelievably, many first-time investors are willing to part with their hard-earned cash without taking the time to study their investment. They rely on traditional trends and gut feelings. Before you risk your investment, take the time to learn all you can about your market. By aligning yourself with the right professional, you can avoid these 12 common mistakes and you’ll ensure an excellent return on your investment.      

1. Failure to Determine Your Time Need- Cash flow, capital appreciation, tax benefits, loss of management, equity pay-down and pride of ownership are just some of the        things that need to be addressed before you make that investment. A service-minded real       estate professional can be a tremendous asset by taking the time to evaluate your needs and making sure you’ve got all your bases covered,          

2. Not Checking out the Seller or Seller’s Agent’s Numbers- Claims of extremely high rates of return run rampant in real estate investment. Don’t get caught up in the excitement - check everything: rents, payment history, taxes, expenses, deposits, future modifications... everything! Make sure you have the right agent. It’s like having a good insurance policy against overlooking all the seemingly insignificant but very important details.

3. Forgetting You’re Buying a Business- Owning investment property carries great potential for creating wealth and... some potentially difficult decisions. Evictions, re-investment into the property and time management all need careful consideration. Remember this is not a “hands-off’ business.

4. Avoid Negative Cash Flow- Property that eats cash every month can drain your working capital. This creates stress, frustration and can become quite painful. Predicting constant appreciation is extremely difficult if not impossible for the unseasoned investor. A strain on your cash flow may cause you to sell the investment before the benefits of ownership are ever realized.

5. Failure to do a Thorough Inspection- Look under every rock! Hire a professional inspector. Ask the tenants about pest problems, structural damage or recurring problems. Don’t overlook anything! A value-driven real estate professional will help you find the right inspector and can help you avoid costly mistakes. When investing your hard-earned money, be sure and use sound business judgment!

6. Be Columbo- Check out all your costs and expenses before you sign: utilities, taxes, insurance, maintenance and homeowner dues, if applicable. Make sure all utilities are on (gas, electricity, and water), so you can inspect everything in working order. Ask lots of questions and be very detail conscious.

7. Do a Final Walk-Through- Visit the property after all the furnishings have been moved out to be sure there are no surprises. Be absolutely positive the property was left exactly as you had agreed upon in the contract. Many times, things are unintentionally overlooked that could have been spotted in a final walk- through.

 

8. Plan For Flexibility- Closing dates are not written in stone. Allow for contingencies and have a back-up plan. If you or the sellers need a little more time to conclude the final arrangements, don’t let these delays upset or frustrate you. These types of circumstances are not uncommon in a real estate transaction.

9. If It’s Not In Writing, It Doesn’t Exist- All promises and discussions are to be in writing. Don’t make any assumptions or believe any assurances. Even the best intentions can be misinterpreted. Have your real estate professional keep an ongoing log (in writing) of all discussions, and get the seller’s written approval for all agreements.

10. Loyalty Breeds Loyalty- Be open, honest and up-front with your team. Hard feelings and disloyalty will cause headaches, delays or may even keep you from getting into the home you worked so hard to locate. Take the time to select the right team in the beginning and your first home purchase will be a simple, easy and profitable experience you’ll have fond memories of... for years to come.

My hope with this report has been to educate you and help you avoid the pitfalls many home buyers go through. I hope you found the ideas valuable and if there is ever any way I can be of service to you or anyone you care about, please contact my office. Your initial consultation is always completely free of charge and you’re under no obligation of any kind. We’ll sit down for 15-20 minutes... no high-pressure, just plain, honest talk about what it’s going to take to achieve your personal goals. Go ahead, pick up the phone and give me a call. I’d love to hear from you!

Jutta “Utah” Burden

Phone 713-515-7847

The Woodlands Realty Group

Email: Utah@UtahBurden.com

Save time, money, and headaches by reading more "Buying Tips" at http://www.utahburden.com/Buyer-Resources/Buyer-Reports

 

What Texas Homeowners Care About

by Jutta "Utah" Burden
What do Texas Homeowners Care About?
 


 Most Texans know that Realtors are there to help you buy or sell your home. But many folks may not realize the role that Texas Realtors play in advocating for public policies benefiting homeowners.

Earlier this year, the Texas Association of Realtors commissioned a telephone survey of Texas homeowners. The purpose was to get a better idea of the issues foremost on their minds. Austin-based Baselice & Associates conducted the survey Jan. 24-29, interviewing homeowners from all parts of the state. The margin of error was plus or minus 3.5 percent.

The top concern … Are you ready? Property taxes and appraisals, with 36 percent saying this issue concerns them the most, and 18 percent citing it as their second-most pressing concern. Combine these, and 54 percent of Texas homeowners are worried enough about property taxes and appraisals to rate it No. 1 or 2.

Other issues that concern homeowners in Texas:
• The prospect of higher taxes – 18 percent rated this their top issue and 20 percent their No. 2 issue
• Crime – 16 percent rated it No. 1 and 21 percent No. 2
• Public education – 16 percent No. 1 and 19 percent No. 2
• The economy – 10 percent No. 1 and 15 percent No. 2

Property taxes, appraisals worrisome

The survey results show that a majority of Texas homeowners are mainly concerned over property taxes and appraisals. The public policy goals of Texas Realtors are closely aligned with these concerns. During the 80th Texas Legislature, which ended May 28, the Texas Association of Realtors was successful in urging lawmakers to pass several measures reforming the property-appraisal process for homeowners. And Texas Realtors supported an amendment that provides property-tax relief to homeowners 65 years and older, and those who are disabled.

In public policy circles, Texas Realtors have been the chief proponents of property-tax relief for Texans. Texas ranks 42nd in the U.S. in homeownership, and high property taxes are partly to blame for this low ranking. The first phase of property-tax cuts was a 17-cent reduction in school maintenance and operations taxes per $100 valuation, passed during last year’s special session.

The second and larger phase of property-tax reductions, bringing an additional 33-cent cut in school maintenance and operations taxes per $100 valuation, kicked in this year, so your property-tax bill for next year will reflect the largest savings.

What legislators did, both last year in the special session and this year in the regular session, are steps in the right direction toward meaningful property-tax relief for Texans. But we still have a ways to go. We’ll continue urging lawmakers to make homeownership more affordable, whether for first-time or long-time homeowners. Besides continuing efforts to lower homeowners’ property taxes and make the appraisal process easier and fair, Texas Realtors work on other issues that benefit Texans. In case you’re wondering what these might be, here are two brief examples:

Mortgage fraud – curbing abuses protects consumers

In the recent 80th legislative session, Texas Realtors played a major role in passing legislation to curb mortgage fraud, protecting home buyers and sellers, and ensuring a viable real estate market.

Transfer fee – keeping a bad idea from taking root

At the 11th hour of the 80th session, the Texas Association of Realtors stopped a bad idea from gaining a foothold in Texas. A private transfer fee is a scheme (many call it a scam) where a person sells his home but files a covenant on the property requiring a fee – one percent is common – paid to the party who filed the covenant. The payment to the seller who filed the covenant is required every time the property is sold after that for as long as 99 years. We urged quick legislation that prohibits private-transfer-fee arrangements and makes any attempts to create them unenforceable.

Source: Texas Association of REALTORS®
Reprinted with permission.

 

Find homes for sale in The Woodlands at http://www.utahburden.com/Search-The-Woodlands-Village-Map

How to Get Every Dollar You Deserve...

by Jutta "Utah" Burden

Special Report From Jutta “Utah” Burden

 

 

The ability to reap additional profits on the sale of your home can be accomplished easily enough, if you make the ‘ improvements. Many changes can provide the prospective buyer with enhanced feelings about your home. Feelings of more space, more light, more rooms, more closet space, greater privacy, warmth and security. Basic, simple and inexpensive improvements can provide an improved emotional response in a potential buyer.

 

An example could be something as small as a crack in the paint on a wall. By simply applying some plaster and touch-up paint, you eliminated what may be an unstated concern that your home was poorly maintained. Though the feeling may be unconscious, it’s just as important that the potential buyer feel an overall sense of emotional desire for your home. If you are working with a small budget, these simple techniques will work absolute wonders.

1.         The Magic of Mirrors!          

Mirrors can provide a greater sense of space and elegance when properly placed. Be careful not to overdo it, but when placed properly throughout your home, each area will seem larger to the potential home buyer. Try looking in your attic or basement for any old mirrors, but be sure they have a nice frame or at least give the frame a new coat of paint. You may also want to visit a local flea market or garage sale - you can often find a great deal on an old miror or two. Putting one- foot square mirrors on a closet door home in the master bedroom is always an attractive touch.           

2.         Adding Additional Closet Space

One of the biggest complaints heard from potential buyers is that there just isn’t enough closet space! Simply purchasing an inexpensive closet organizer and installing it in any or all of your closets can make all the difference. You can also try putting a rod across one corner of a bedroom, for hanging clothes, further out put another rod higher up. From this rod hang a clothes-hiding screen made from a variety of choices. The screen could be matching material of the bedspread, drapes etc.. The idea here is to be creative so that the “fake closet” looks as though it was a part of the room

3.         Make a Bare Wall Beautiful

Wallpaper is inexpensive, quick and easy to do! The right wallpaper can brighten the room or hallway and bring it back to life. Be careful to choose something with a neutral design or pattern. Remember, you’re trying to move out!

4. Bring Old Floors Back to Life!

Nothing turns off a potential buyer quicker than dull, dingy, disgusting-looking floors. Whether you have wax, wooden or tiled floors, do whatever you can to make them shine again! For wax floors, either rent a

 

floor machine and do it yourself, or hire a professional if it’s in your budget. Have a professional give you an estimate and explain exactly what they would do to bring your floors back to life. If you have them explain what they would do, it may be just as easy to do it yourself. If you have carpeted floors you should either have the carpet steam-cleaned or, if it’s in your budget, install new carpeting. This may sound expensive, but new carpeting can add thousands of dollars to the value of your home.

5. Bring in Some Plants

Having plants in the house is not only healthy for you but you create a warm feeling with them. Ficus trees have become very popular and they can be purchased inexpensively. Attractive pots such as ceramic, brass or even designer plastic will add a designer flair to your home. Hanging plants such as Boston ferns are inexpensive, easy to care for and would go great in your new home wherever you move.

6.         Adding a Room Without Calling in the Contractor!

This simple but seldom-used technique can give a buyer the feeling there are more actual rooms in your house. Floor-to-ceiling room dividers are inexpensive and simple to install. When a buyer walks through your home, they will generally count the rooms in a subconscious manner. Each room will present an emotional response as they walk through your home. By dividing and designing each side of your room, you create a ‘separate room” feeling in the potential buyer. It may sound crazy, but it works.

7.         Clean Up the Bathroom        

We’ve probably all heard that phrase a hundred times growing up as children! Well guess some what? It’s still valid. Give your bathroom a face-lift if needed. Fresh paint, decorative moldings, tile grout, new designer faucets are attractive eye catchers.   

8.          What is That Smell?  

People don’t like to admit it but, everyone’s home has a certain smell to it. We just never notice because we live with it day in, day out. Strategically placing fresh scent devices throughout the home will be pleasant to the nose of any potential buyer. As a matter of fact, an old Realtor® trick is to pop some cinnamon rolls in an oven 5 minutes before a showing. I bet you thought all Realtors just had a sweet tooth!

My hope with this report has been to help you make simple changes that can add thousands of dollars to the ultimate selling price of your home. I hope you found the ideas useful and if there is ever any way I can be of service to you or anyone you care about, please contact my office. Your initial consultation is always completely free of charge and you’re under no obligation of any kind. We’ll sit down for 15-20 minutes... no high pressure, just plain, honest talk about what it’s going to take to achieve your personal goals. Go ahead, pick up the phone and give me a call. I’d love to hear from you!

Jutta “Utah” Burden

Keller Williams Realty

Phone (832) 482-2047

How much is your home worth? Find out at http://www.magnoliamarketvalue.com/

The Best Reason To Buy Your First Home NOW

by Jutta "Utah" Burden

The best reason to buy your first home NOW 

 If you're a potential first-time home‑ buyer who's been sitting on the fence, now may be the golden moment to take the leap. In fact, there are at least seven good reasons why buying your first home now makes good financial sense. 

1.    Softened Prices Increase Home Affordability

The most current survey on home affordability from the National Associa­tion of Realtors® brings great news - more buyers are able to financially afford to purchase a home today .The survey shows that, in order to purchase the av­erage median priced home of $164,600, a buyer would only need qualifying an­nual income of $34,416. This is based on a 20% down payment, a monthly prin­cipal and interest payment of $717 and a mortgage rate of 5.1%. While softened prices haven't been good news for sell­ers, they definitely benefit first-time buyers, boosting your ability to qualify.

2.   Low Interest Rates

With interest rates lower than they've been in more than forty years, now's an excellent time to lock in a long-term fixed rate. Not only will you be able to afford more homes, but you'll have the peace of mind knowing that you've made a sound financial decision taking advantage of historically low, bargain basement rates. One thing we know for sure: At some point in time, interest rates will rise; and that factor alone could disqualify you for the mortgage you need. 

3.    Large Inventory to Choose From 

Combine low prices, low interest, with large inventory and it's a buyers' paradise! In markets of the past, many first-time buyers were relegated to buying a very small, almost cramped, starter home. With inventory high in many parts of the country, you'll be able to select a home that exceeds your first-home expectations. But caution: Don' t be like a kid in a candy store spending so much time searching that you miss this great buyer's market opportunity!

4.    An $8,000 Tax Credit Bonus 

If you're a first-time home buyer mak­ing a purchase before December 1, 2009, you'll receive a tax credit of 10 percent of the purchase price, up to a maximum of $8,000. Unlike previous home-buyer tax credits, this one is refundable ... mean­ing that the credit can be claimed even if you have little or no federal income tax liability to offset. For example, if you had a tax liability of $2,000 and received a tax credit of $8,000, Uncle Sam would send you a check for a whopping $6,000.

Who says it doesn't pay to buy now? 

Find homes for sale in The Woodlands and surrounding area at http://www.listingthewoodlands.com/

 

The Home Valuation Code of Conduct (HVCC)

by Jutta "Utah" Burden

The Home Valuation Code of Conduct (HVCC) – What Is It and What is the Impact on Buying or Selling a Home?

 

Fannie Mae and Freddie Mac have adopted the Home Valuation Code of Conduct (“the Code”) for all conventional, single-family loans originated on or after May 1, 2009, that are delivered to them.  The Code does not apply to multi-family home loans or loans insured by a federal agency such as FHA or VA loans. So far, only Fannie Mae and Freddie Mac have adopted this Code.

Highlights of the Code: 

·        Appraisers must be certified by the state where the property that is being appraised is located.

·        It also provides that the home buyer must be provided with a copy of the appraisal report not less than 3 days prior to closing.  The borrower may waive this right.

·        The Code prohibits a lender from ordering a second appraisal when the lender is trying to influence the outcome of the new appraisal.  

Currently many lenders and title insurance underwriters own appraisal management companies. This is legal under the Real Estate Settlement Procedures Act (RESPA) so long as the lenders and title insurance underwriters disclose their ownership relationship within 24 hours of the referral.  The Code also permits this practice. Also, the home buyer does not have to use those companies.  As a result of this new Code, there could be a number of national appraisal companies that evolve who do not understand the local market. This could affect the home industry negatively by further depressing home prices because there is a fear that a national appraisal company would value homes based upon a process determined by Fannie Mae or Freddie Mac and that the valuation process would not accurately reflect local home values.     As a result, this would affect the buyer’s loan if the home does not appraise at the selling price. This means if the buyer wants to purchase the home, the buyer would have to make up the difference out of his own pocket between the appraisal price and the home value price or ask the seller for a price reduction.  This could cause the deal to fall apart.  We will have to wait and see if the Code has a negative impact or not on the housing market.

Read more about real estate at http://www.UtahBurden.com

 

Seller TIP Quick Fixes to Increase Value

by Jutta "Utah" Burden

 



With buyers scarcer, sellers must up the ante to convince them that their property offers what many want most — top value for dollar expended. Here are eight fast fixes:

1. Buff up curb appeal. You’ve heard it before, but it’s critical to get buyers to want to look on the inside. Be objective. View listings from the street. Check the condition of the landscaping, paint, roof, shutters, front door, knocker, windows, house number, and even how window treatments look from the outside. Add something special—such as big flower pots or an antique bench — to help viewers remember house A from B.

2. Enrich with color. Paint’s cheap, but forget the adage that it must be white or neutral. Just don’t let sellers get too avant-garde with jarring pinks, oranges, and purples. Recommend soft colors that say “welcome,” lead the eye from room to room, and flatter skin tones. Think soft yellows and pale greens. Tint ceilings a lighter shade.

3. Upgrade the kitchen and bathroom. These make-or-break rooms can spur a sale. But besides making each squeaky clean and clutter-free, update the pulls, sinks, and faucets. In a kitchen, add one cool appliance, such as an espresso maker. In the bathroom, hang a flat-screen TV to mimic a hotel. Room service, anyone?

4. Add old-world patina. Make Andrea Palladio proud. Install crown molding at least six to nine inches in depth, proportional to the room’s size, and architecturally compatible. For ceilings nine feet high or higher, add dentil detailing, small tooth-shaped blocks used as a repeating ornament. It’s all in the details, after all.

5. Screen hardwood floors. Buyers favor wood over carpet, but refinishing is costly and time-consuming. Screening cuts dust, time, and expense. What it entails: a light sanding, not a full stripping of color or polyurethane, then a coat of finish.

6. Clean out, organize closets. Get sorting—organize your piles into “don’t need,” “haven’t worn,” and “keep.” Closets must be only half-full so buyers can visualize fitting their stuff in.

7. Update window treatments. Buyers want light and views, not dated, fancy-schmancy drapes that darken. To diffuse light and add privacy, consider energy-efficient shades and blinds.

8. Hire a home inspector. Do a preemptive strike, since busy home owners seek maintenance-free living. Fix problems before you list the home and then display receipts and wait for buyers to offer kudos to sellers for being so responsible.

Sources: Ernie Roth, Roth Interiors, Los Angeles; Angel Petragallo, abr, Group One, Boise, Idaho; Melissa Galt, Galt Interiors, Atlanta; Steve Kleiman, CEO, Oakington Realty, Houston; Sid Davis, Sid Davis & Associates, Farmington, Utah, and author of First-Time Homeowners’ Survival Guide (Amacom, 2007); Steve Hochman, Friendly Note Buyers, Roxbury, N.Y.; Margi Kyle, designer and spokesperson for Hunter Douglas.

Find more great tips at http://www.utahburden.com/Seller-Resources/Seller-Reports

Taking Mandatory "Time Outs"

by Jutta "Utah" Burden

A riveting article in the Wall Street Journal recently discussed how some people think they can fly off to a spa, have two weeks of idylic living, come back, and be ready to go.  A growing body of research, however, suggests that this approach is wrong and that multi-millions of people manage stress incorrectly, states Jeff Davidson, CEO of BreathingSpace.com. They stress out all day and defer relaxation to isolated blocks of time, such as evening yoga classes and weekend trips.

The problem with this approach to stress management is that the relentless exposure to daily, chronic anxiety is the most toxic form of stress. The body releases chemicals under high stress that can damage the immune system and increase the risk of all types of illness. Stress can harm neurons in the brain, hamper sexual performance, and even lead to heart attacks and premature death.

The conclusion from these findings: people need breathing space throughout the day, every day.

Eliminate headaches! Let me help you buy and/or sell a home! Find more information at http://www.SellTheWoodlands.com

Where to Eat? The Best Restaurants in The Woodlands

by Jutta "Utah" Burden

With massive expansion underway, more and more restaurateurs are targeting the suburb for second and third locations of their popular eateries. Want to know where the best places to eat are at in The Woodlands? 

The aroma of beef or chicken being grilled over an open flame, or the sound of as sizzling platter of fajitas as they are transported to your table? Maybe the mouthwatering sight of your fresh, made-to-order, perfectly prepared meal served to your table with your choice of delicious sides would make your day? 

Here’s the Restaurant Directory to look for the Best Restaurants What are you waiting for? Go ahead try them out and let us know which you loved best! Enjoy!

Tips To Buy Real Estate; the Woodlands and Magnolia Texas Properties

by Jutta "Utah" Burden

 

Tips To Buy Real Estate; the Woodlands and Magnolia Texas Properties

The economy is slowly seeing a resurrection after the
collapse that happened some years back. So these are the times to invest in
real estate
. The Woodlands and Magnolia Texas regions have experienced a real
estate boom. Over the past decade, people have preferred these places due to
various factors.

When buying real estate, you have to consider some
basics. The following are some tips to buy properties without overshooting your budget.

Pre-approved home loan

Apply for a loan from a bank. Get it ready. By doing
this, you are ready to shop for real estate. The Woodlands and Magnolia Texas
real estate scene is blooming. When you have your loan papers ready, all you
need to do is find a property. This is better than finding a property and then
checking your loan eligibility.

When you already know your loan eligibility, you know
which properties to look for. You will look for real estate that is within your
buying power.

Find out about financing options

Banks provide numerous financing options for the
benefit of their customers. Get information on low down payments. Some banks
provide first time purchaser schemes. There is a new type of financing called
interest-only financing. You may get this loan faster, but read the fine print
before you commit on anything.

You can also avail down payment grants to buy real
estate. The Woodlands and Magnolia Texas real estate prices could also be a
touch expensive. A high down payment should not crush your dreams of buying a
property. And down payment grants help you navigate through this situation.

Sell your home before buying a new one

When you sell your existing home, you have cash in hand
to purchase a new one. You can make an offer to a prospective seller if you
have cash in hand. A seller would need some immediate cash to pay off a bank
loan. When you have cash in hand, the seller views you as a potential buyer and
a way to pay off the existing bank loan on the property. And in the bargain,
you may also get a lesser buying price.

Vacant real estate has more value

There is no doubt that there is more value for vacant
real estate. The Woodlands and Magnolia Texas property prices appreciate or
depreciate based on economic conditions. But vacant real estate always has
increasing value.

Consult a realtor who can help you see vacant real
estate sites. Within the urban regions it could be expensive. So don’t rule out
the opportunity to look for vacant sites on the outskirts. What are outskirts today
could become residential, urban, sub-urban and commercial centers in the
future. Spread your investments wisely. If you are new to the area, you may
have to rely on real estate agents.

Buying properties is not easy as it looks. It is a huge
investment that you are making. Probably an investment of your lifetime. So
invest wisely in real estate. The Woodlands and Magnolia Texas real estate prices
are sure to reward you in the future.

Displaying blog entries 1-10 of 473

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