With all the foreclosures and short sales on the market, real estate is literally on sale. In addition, mortgages are at a historically low rate. This means you can get a great deal on a property with equity already built-in at an affordable monthly payment. I call this the 2 for 1 special, but hurry because this sale will not last forever.
Stop window shopping and step into my office. Call today 832-647-1769.
Tuesday, July 13, 2010
Wednesday, July 7, 2010
Six Selling Myths Uncovered
Myth #1: You should always price your home high and negotiate down.
Truth: Pricing too high can be as bad as pricing too low. If you list too high, you'll miss out on buyers looking in the price range where your home should be. Offers may not even come in, because buyers who are interested in your home are scared off by the price and won't even take the time to look at it. By the time you correct the price and list your home at its fair market value, you will have lost that window of opportunity when your home draws the most attention from the public and real estate agents; i.e. the first 30 days that it is on the market. A well-trained real estate agent who looks out for your best interests will consult with you on your home’s fair market value and different pricing strategies for the current market.
Myth #2: Minor repairs can wait until later. There are more important things to be done.
Truth: Minor repairs make your house more marketable, allowing you to maximize your return (or minimize loss) on the sale. Most buyers are looking for homes that are ready for them to move into. If your home happens to attract a buyer who is willing to make repairs, he/she will begin asking for repair allowances that come out of your asking price. The amount of an allowance that you have to offer a buyer is usually more than what it would cost for you to make the repair (or hire someone to make the repair). Remember, buyers are comparing your home to other homes that are currently on the market. Your home should be inviting so that everyone who looks at it can see themselves living there.
Myth #3: Once a potential buyer sees the inside of your home, curb appeal won't matter.
Truth: Buyers probably won't make it to the inside of the home if the outside of your home does not appeal to them. Buyers and their agents often do drive-bys before deciding whether a home is worth their time to look inside. Your home’s exterior must make a good first impression so that buyers are compelled to stop and come inside. All it takes is keeping the lawn mowed, shrubs and trees trimmed, gardens weeded and edged, and clutter put away.
Myth #4: Your home must be every home buyer's dream home.
Truth: If you get carried away with repairs and replacements to your home, you may end up over-improving the house. There is a point where improving your home doesn’t pay off. The key is to consider what competing properties feature and look like. A highly-motivated real estate agent will consult with you on what competing properties have to offer – he/she can even show you competing properties so that you can make sound home improvement decisions.
Myth #5: You are better off selling your home on your own and saving money on the commission you would have paid to a real estate agent.
Truth: Statistically, many sellers who attempt to sell their homes on their own cannot consummate the sale without the service of a real estate agent. Homeowners who succeed in selling their home by themselves usually net less than if they had a real estate agent working for them. The National Association of REALTORS surveys consumers every year, including homeowners who succeeded in selling their home without a real estate agent. Over 70% of these homeowners say that they would never do it again.
Myth #6: When you receive an offer, you should make the buyer wait. This gives you a better negotiating position.
Truth: You should reply immediately to an offer! When a buyer makes an offer, that buyer is, at that moment in time, ready to buy your home. Moods can change, and you don't want to lose the sale because you have stalled in replying.
Now that the myths have been uncovered, call 832-647-1769 Today and sell your house Tomorrow!
Truth: Pricing too high can be as bad as pricing too low. If you list too high, you'll miss out on buyers looking in the price range where your home should be. Offers may not even come in, because buyers who are interested in your home are scared off by the price and won't even take the time to look at it. By the time you correct the price and list your home at its fair market value, you will have lost that window of opportunity when your home draws the most attention from the public and real estate agents; i.e. the first 30 days that it is on the market. A well-trained real estate agent who looks out for your best interests will consult with you on your home’s fair market value and different pricing strategies for the current market.
Myth #2: Minor repairs can wait until later. There are more important things to be done.
Truth: Minor repairs make your house more marketable, allowing you to maximize your return (or minimize loss) on the sale. Most buyers are looking for homes that are ready for them to move into. If your home happens to attract a buyer who is willing to make repairs, he/she will begin asking for repair allowances that come out of your asking price. The amount of an allowance that you have to offer a buyer is usually more than what it would cost for you to make the repair (or hire someone to make the repair). Remember, buyers are comparing your home to other homes that are currently on the market. Your home should be inviting so that everyone who looks at it can see themselves living there.
Myth #3: Once a potential buyer sees the inside of your home, curb appeal won't matter.
Truth: Buyers probably won't make it to the inside of the home if the outside of your home does not appeal to them. Buyers and their agents often do drive-bys before deciding whether a home is worth their time to look inside. Your home’s exterior must make a good first impression so that buyers are compelled to stop and come inside. All it takes is keeping the lawn mowed, shrubs and trees trimmed, gardens weeded and edged, and clutter put away.
Myth #4: Your home must be every home buyer's dream home.
Truth: If you get carried away with repairs and replacements to your home, you may end up over-improving the house. There is a point where improving your home doesn’t pay off. The key is to consider what competing properties feature and look like. A highly-motivated real estate agent will consult with you on what competing properties have to offer – he/she can even show you competing properties so that you can make sound home improvement decisions.
Myth #5: You are better off selling your home on your own and saving money on the commission you would have paid to a real estate agent.
Truth: Statistically, many sellers who attempt to sell their homes on their own cannot consummate the sale without the service of a real estate agent. Homeowners who succeed in selling their home by themselves usually net less than if they had a real estate agent working for them. The National Association of REALTORS surveys consumers every year, including homeowners who succeeded in selling their home without a real estate agent. Over 70% of these homeowners say that they would never do it again.
Myth #6: When you receive an offer, you should make the buyer wait. This gives you a better negotiating position.
Truth: You should reply immediately to an offer! When a buyer makes an offer, that buyer is, at that moment in time, ready to buy your home. Moods can change, and you don't want to lose the sale because you have stalled in replying.
Now that the myths have been uncovered, call 832-647-1769 Today and sell your house Tomorrow!
Tuesday, June 22, 2010
Freddie Mac, Fannie Mae Announce Relief for Gulf Coast
Both Freddie Mac and Fannie Mae announced that servicers may grant relief to Gulf Coast borrowers unable to pay their loans because of the current oil spill's impact on their incomes.
Freddie Mac's forbearance policies give servicers the discretion to suspend a borrower's mortgage payments for up to three months or reduce payments for up to six months. Servicers may recommend forbearance for up to twelve months, based on the borrower's individual circumstances.
"Freddie Mac and the nation's mortgage servicers will work together to advance available mortgage relief to homeowners affected by the Deep water Horizon oil spill," said Freddie Mac Senior Vice President of Default Asset Management Ingrid Beckles. "We are instructing our servicers to work with borrowers with Freddie Mac-owned mortgages to extend forbearance of mortgage payments where appropriate to help them stay in their homes as they navigate through this financial hardship."
Under Freddie Mac's requirements servicers must not accrue or collect late charges from the borrower during a short-term forbearance or any subsequent repayment plan period if the borrower is paying according to the forbearance agreement.
Freddie Mac's forbearance policies give servicers the discretion to suspend a borrower's mortgage payments for up to three months or reduce payments for up to six months. Servicers may recommend forbearance for up to twelve months, based on the borrower's individual circumstances.
"Freddie Mac and the nation's mortgage servicers will work together to advance available mortgage relief to homeowners affected by the Deep water Horizon oil spill," said Freddie Mac Senior Vice President of Default Asset Management Ingrid Beckles. "We are instructing our servicers to work with borrowers with Freddie Mac-owned mortgages to extend forbearance of mortgage payments where appropriate to help them stay in their homes as they navigate through this financial hardship."
Under Freddie Mac's requirements servicers must not accrue or collect late charges from the borrower during a short-term forbearance or any subsequent repayment plan period if the borrower is paying according to the forbearance agreement.
Tuesday, June 15, 2010
Finding the right place just got easier!
Are you ready to start the search for your new home? I have just the place!
If you’re like most homebuyers today, you’ll want to spend some time researching homes on the Internet before you’re ready to start touring homes.
As I recently shared with you, I made the move to Keller Williams Realty and with that move, my Website was upgraded for buyers just like you. Check it out for yourself: Click Here. You can search through thousands of homes and filter them according to your specific needs – it’s really fun and easy to use!
And, as always, I’m here to provide you with more detailed information about neighborhoods, local home values or details on any of the homes that might catch your eye. Plus, I always have access to the newest homes for sale, often before they even go on the market!
Please let me know when you’re ready to take the next step toward buying your next home!
Call me @ 832-647-1769 Today!
If you’re like most homebuyers today, you’ll want to spend some time researching homes on the Internet before you’re ready to start touring homes.
As I recently shared with you, I made the move to Keller Williams Realty and with that move, my Website was upgraded for buyers just like you. Check it out for yourself: Click Here. You can search through thousands of homes and filter them according to your specific needs – it’s really fun and easy to use!
And, as always, I’m here to provide you with more detailed information about neighborhoods, local home values or details on any of the homes that might catch your eye. Plus, I always have access to the newest homes for sale, often before they even go on the market!
Please let me know when you’re ready to take the next step toward buying your next home!
Call me @ 832-647-1769 Today!
Wednesday, June 2, 2010
Hurricane Season Is Here...Check Your Insurance Before Disaster Strikes
Tornados, hurricanes and floods, oh my! We have already seen coverage on the news about tornados and floods, and the experts are predicting this to be a busy hurricane season. Make sure you have your house in order.
Mother Nature often acts less like a mother and more like a destructive force. That’s why there’s homeowner’s insurance.
Here are a few suggestions offered by insurance agents and financial consultants about homeowner’s insurance:
Insurance companies will tailor coverage based on your needs. But make sure your home is insured for at least 100% of its estimated replacement cost. Replacement cost is the rebuilding cost necessary to repair or replace the entire home. It is not just the market value of the home, which is the amount a buyer would pay for the home, including land. To determine the amount of coverage you’ll need, get an estimate of the replacement cost of your house.
Once you have a replacement estimate, ask your agent if your policy includes an automatic inflation adjustment. This protection will adjust your premium to increase coverage in line with construction costs in your area.
Don’t let natural disasters make you a victim. Schedule an appointment with your insurance agent to talk about your individual needs.
Need a referral for a great insurance agent? Give The Newlywed Real Estate Agent a call @ 832-647-1769.
Mother Nature often acts less like a mother and more like a destructive force. That’s why there’s homeowner’s insurance.
Here are a few suggestions offered by insurance agents and financial consultants about homeowner’s insurance:
Insurance companies will tailor coverage based on your needs. But make sure your home is insured for at least 100% of its estimated replacement cost. Replacement cost is the rebuilding cost necessary to repair or replace the entire home. It is not just the market value of the home, which is the amount a buyer would pay for the home, including land. To determine the amount of coverage you’ll need, get an estimate of the replacement cost of your house.
Once you have a replacement estimate, ask your agent if your policy includes an automatic inflation adjustment. This protection will adjust your premium to increase coverage in line with construction costs in your area.
Don’t let natural disasters make you a victim. Schedule an appointment with your insurance agent to talk about your individual needs.
Need a referral for a great insurance agent? Give The Newlywed Real Estate Agent a call @ 832-647-1769.
Monday, May 24, 2010
Thinking about making a move? I did!
My signs may change, my dedication to my clients won’t.
I wanted you to be one of the first to know that I have made the move to real estate leader, Keller Williams Signature.
I look forward to sharing with you how my move makes you making a move easier!
Edmond "Donte" James, Realtor
________________________________________
832-647-1769 (direct)
281-579-4991 (fax)
http://www.thenewlywedrealestateagent.com/
I look forward to sharing with you how my move makes you making a move easier!
Edmond "Donte" James, Realtor
________________________________________
832-647-1769 (direct)
281-579-4991 (fax)
http://www.thenewlywedrealestateagent.com/
Friday, May 21, 2010
The Numbers Don't Lie
Look at this scenario:
Purchase Price: $150,000
Down Payment: $5,250 (3.5% of Purchase Price)
Loan Amount: $144,750 (Purchase Price minus Down Payment)
Interest Rate: 4.94% (http://www.bankrate.com/ as of 05/19/2010)
Term: 30 Year Fixed
Payment: $771.75 (Principal and Interest)
Monthly Payment for Taxes and Insurance: $400 (An Estimate)
Mortgage Insurance: $100 (An Estimate)
Total Monthly Payment: $1,271.75
If you have a 620 credit score, money saved for a down payment and closing costs, can document your income, you can own a home. How much are you paying for rent? If it is close to the total monthly payment in this scenario, you could be paying that money towards your own home. Of course the numbers in this scenario can be more or less depending on the purchase price of your new home.
Give The Newlywed Real Estate Agent a call today @ 832-647-1769 to get you and your spouse qualified and approved for your New Home.
Purchase Price: $150,000
Down Payment: $5,250 (3.5% of Purchase Price)
Loan Amount: $144,750 (Purchase Price minus Down Payment)
Interest Rate: 4.94% (http://www.bankrate.com/ as of 05/19/2010)
Term: 30 Year Fixed
Payment: $771.75 (Principal and Interest)
Monthly Payment for Taxes and Insurance: $400 (An Estimate)
Mortgage Insurance: $100 (An Estimate)
Total Monthly Payment: $1,271.75
If you have a 620 credit score, money saved for a down payment and closing costs, can document your income, you can own a home. How much are you paying for rent? If it is close to the total monthly payment in this scenario, you could be paying that money towards your own home. Of course the numbers in this scenario can be more or less depending on the purchase price of your new home.
Give The Newlywed Real Estate Agent a call today @ 832-647-1769 to get you and your spouse qualified and approved for your New Home.
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