First Time Home Buyers

There are currently 116 blog entries related to this category.

Living in the age of HGTV brings along a lot of desire to purchase "fixer upper" properties. What we are also seeing along with this fixer upper craze is the trend of homeowners cutting out the middle-man and taking on renovations themselves. While I 100% support taking on these renovations, but it is important to remember to always get the necessary permits. Most people are surprised at just how many home projects actually require permits. Researching/applying for the necessary permits should always be one of the first steps when planning for your home projects. Always check with the city to ensure that you have applied for the correct permits, because if not fines and fees could occur. Most homeowners don't realize that

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YOU'RE INVITED! Come out this Sunday, April 14th, anytime from 12 - 2 pm to check out this phenomenal home in the Southside area! Just a two minute drive from Texas A&M at 1204 Goode, Alexis Knox - Realtor at TM5 Properties will be holding the house open, so go by and take a peek! You won't want to miss out on this great opportunity!! 
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  Is 2019 your year to take the plunge and purchase your first home? If so, please join me Saturday, April 6th, 2019 at 10:30am for a First Time Home Buyers Seminar! Breakfast & coffee will be served, and we will be going over the A-Z process of buying your first home! This is one of the most exciting times of your life, and I want to make sure that you are comfortable and confident going into the process. We will end with a Q&A session, so hopefully you will leave with your questions answered & your 2019 home owning goals a little closer to fruition.    Overview of what we will be covering in the seminar:  -Setting up your real estate search  -Choosing your lender & the pre-approval process -What to expect for…
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  It's the beginning of the new year, and many of you have set the goal of buying a home this year! One of the first things people wonder when considering purchasing a home, is "how much cash do I need?" Today on the blog, I'll be taking you through the different down payment options that you'll have to choose from, which will hopefully prepare you for the financial obligations of your home purchase goals!    The main types of loans you'll see when purchasing your home are Conventional loans, FHA (or Federal Housing Administration) loans, VA (Veteran's Affairs) loans.  and USDA (United States Department of Agriculture) loans. Each loan program has different requirements and with those requirements, usually different…
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As we begin another year, everyone wants to know: “Where is the housing market headed in 2019?”

It’s not only buyers, sellers, and homeowners who are impacted. The real estate market plays an integral role in the overall U.S. economy.  Fortunately, key indicators point toward a stable housing market in 2019 with signs of modest growth. However, shifting conditions could impact you if you plan to buy, sell, or refinance this year.

HOME VALUES WILL INCREASE

A continual rise in real estate value is where our market’s headed. Freddie Mac predicts housing prices will increase by 4.3 percent in 2019.1  While the rapid price appreciation we witnessed earlier in the decade has slowed, several factors continue to push prices

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It’s important that whomever you hire to sell your home studies our current market data, like the statistics released in December 2018.  As I’ve mentioned before, my time in undergraduate studies was devoted to the sciences.  What that means for you is when we work together, I will use the latest information available.

 

Here are the statistics for November in 2018:

  • Median price of homes INCREASED 9.5% compared to this time last year, to $218,950
  • Inventory is UP 21.1% compared to 2017
  • Percentage of closings is UP 2.7%
  • Number of days on Market UP vs 2017 (105 in 2018 vs 98 in 2017)
  • Months of inventory INCREASED to 4.6 months (vs 3.8 in 2017)

In summary, properties are appreciating; do not

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 From the desk of Mae Nowak, Realtor®

Tackling the misconception of "off season"

The general assumption in most markets is that spring/summer is the best time in real estate to buy or sell and the fall/winter is “off season”. Likewise, many realtors will advise clients to wait until the spring to list their home. 

The truth is, there are many advantages to buying or selling in the so called “off season”. While the market may be quieter, real estate never stops completely!


Reason #1: Less competition.

Take a look at the graph above showing new listings over the past 3 years. You can see a clear trend. The most new listings hit the market between March-June. They continue to decrease the remainder of the year

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Home Buyer Tips

From the desk of Mae Nowak, Realtor®

It's easy to get swept up in excitement when you've made an offer on your dream home and it has been accepted by a seller. You're anxious and ready to move in immediately. However, there's one more thing you need to do to know exactly what you're buying - a home inspection.

A home inspection is a thorough examination of a homes systems and structures, the things you can't necessarily see when you first walk through a house. It is completed by a professional and neutral 3rd party. This examination is a crucial investment that can either warn you away from a bad purchase or provide you with a list of deficiencies you can use to negotiate with a seller. Most inspectors

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Be prepared – If you don’t already have one, get a pre-approval letter from a local lender.  Why local?  Realtors are familiar with lenders in their market and know whether or not they can get the deal done. 

Gather your information – Ask your realtor to prepare a Buyer’s Market Analysis for you.  This will give you a snapshot of comparable homes and an idea of what they’ve been selling for in the last six months. 

Make sure you understand your local market –particularly if you are coming from out of state.  Ask your realtor what the list price to sales price ratio is in your market.  For the last several years in Bryan/College Station, on average, most homes sold for between 97-100% of list price.   That number crept

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Your buyer’s rep can help you decide.

The decision to purchase a home is a highly personal one, based on both tangible and intangible factors. Beyond your personal situation, local market conditions, financing costs, and future expectations must also be evaluated. The following list of questions can help you decide if you are ready to move forward with a home purchase. Your Accredited Buyer’s Representative (ABR®) can help you sort through these issues and provide essential local market perspectives.

Purchasing considerations

If you purchase a home, how long do you expect to live there?

What can you afford to pay each month for housing related expenses?

What are the total costs of home ownership? This may

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