Monday, November 2, 2015

Winter is coming. Is your house in order?

Winter is coming. Is your house in order?

Crisp fall evenings snuggled up next to the fireplace will be even more satisfying if you know your house is ready for the winter months. Here are a few tips to get your house in tip top shape for the fall and winter months.
Speaking of fireplaces, let’s start there. Now is a great time to hire a chimney sweep to clean and inspect your chimney to make sure there’s not creosote build-up. Check to make sure there aren’t any creatures nesting in there, and check the damper to make sure it opens and closes properly. Finally, go outside and inspect the chimney for loose bricks, cracks in the mortar and to make sure the chimney cap is in place. If you have a woodpile, make sure it’s not stacked up against the house to prevent insects and other uninvited guests from making themselves at home.
Since heating your home is going to be important very soon, now is also a good time to have your furnace tuned up. Do this now before the season gets into full swing and the service companies get busy. Tune ups will clean off the dust and dirt from the air-shutter openings, exhaust vents, and the burner (if it’s a gas system) and ensure that everything is venting properly. You should also inspect the thermostat and replace filters at this time.
Now is also a great time to vacuum off carbon monoxide detectors and change the batteries in your smoke detectors. Remember that the sensors do wear out over time, so it’s important to test them. Replace whenever they don’t perform well in a test or if they are more than 10 years old. Also, fire extinguishers older than six years should be replaced.
Once the heat is turned on, remember to reverse your ceiling fans. Many fans have a reverse switch. Running the fan clockwise to produce an updraft will push heat down into the room, which may allow you to turn down the thermostat a degree or two.
Now check your windows and doors for air leaks. Caulk and weather stripping can deteriorate over time. If you close window or door on a piece of paper and it slides easily, the weather stripping isn’t blocking air from passing. You can also check for air leaks by holding a lighted candle around the door or window frame and watching for the flame to flicker, indicating air is passing through. Be careful not to do this near anything flammable, like curtains or blind cords. It’s a good idea to replace cracked or shrunken caulk around windows to prevent water penetration as well. It’s a good idea to go ahead and wash the windows now, too. Let the light in during the winter months.
Outside, start by cleaning the gutters to prevent clogs, damage to the exterior of the house and ice dams on the roof. Repair any damaged fascia or siding at this time. Also, make sure downspouts are able to carry water a few feet away from the foundation. While you’re up on the ladder, take a look at the roof. Check for any damaged, loose or missing shingles that may leak during winter’s storms or from melting ice. Check the flashing seals around vents and chimneys, too.
In the garden, prune dead branches or branches and limbs so they are not hanging over the roof or power lines. Cover delicate plants as the weather cools and plant spring bulbs, then refresh the mulch in flowerbeds and gardens. Drain hoses and store them in a covered place. Cover outside faucets to prevent freezing. If your sprinkler system does not have a rain/freeze sensor, consider having one installed. Prepare your mower for sitting idle during the winter by either draining the gas from the tank or adding a stabilizer to the tank and topping it off. This will protect the carburetor and make the motor easier to start in the spring.

Tuesday, October 27, 2015

Here’s proof why Millennials should buy not rent

Here’s proof why Millennials should buy not rent


Even with their unique financial and living situations, it is still better for Millennials to buy a home rather than rent in most cities.

Usually, when Trulia crunches its home-buying numbers, it assumes a 30-year, fixed-rate mortgage with a 20% down payment for households moving every seven years.

Following these guidelines, buying is 36% cheaper than renting on a national basis, based on September home prices. Buying is also cheaper than renting in each of the nation’s 100 largest metros.

But the problem with this model is that it doesn't fit the situations that average Millennials face. Instead, Trulia said that it is typical for young households (ages 25-34) to move every five years and only be able afford up to a 10% down payment.

This latest edition of Rent vs. Buy considers these Millennial factors. Trulia also assumed a 3.85% mortgage rate on a 30-year fixed-rate loan, itemized federal tax deductions and a 25% tax bracket

According to the results, “Buying is not only 23% cheaper than renting nationally, it is also cheaper than renting in 98 of the nation’s top 100 markets,” Trulia said.

While this calculation shows that buying is still cheaper than renting, the difference is pretty close in some places, especially in California.

The report noted that there are additional economic conditions that influence today’s market.

For example, home-price growth has outpaced rent growth since 2012, which favors the rent side of the buy vs. rent equation. But low interest rates help offset this issue.

Friday, October 9, 2015

5 to-dos for first-time homebuyers

5 to-dos for first-time homebuyers


You've decided that your first home should have three bedrooms and a big yard, but what other steps have you taken? There are a few other tasks you'll be glad you took care of before submitting an offer.

  • Determine what's important to you. Create a list of your must-have features and refer to it when viewing properties. Your priorities may change, but it can be a good starting point.
  • Ask for documents. If you're viewing property in a homeowners association, for example, request a copy of the HOA rules to review and ensure you're willing to abide by them. Look into assistance programs.
  • You may qualify for homebuyer-assistance programs based on your profession, income, or the property's location.
  • Consider all expenses. When calculating your housing budget, be sure to factor in expenses like taxes, insurance, utilities, and commuting costs.
  • Think about resale value. You may appreciate a home's unique features or location, but will potential buyers love them when you're ready to sell?

Tuesday, September 29, 2015

Proposition 1 does not hurt school funding


09/29/2015 | Author: Mark Lehman

In Lehman's Terms

The purpose behind this column is to simplify legislative jargon and offer a clear understanding of public policy. Explaining the complicated wording of Proposition 1 on the statewide November 3 ballot is a perfect topic.
The simple effort to lower property taxes and ban a tax on real estate sales has resulted in a 112-word proposition on the ballot. That complex language distracts from the legislative intent of the measure and opens the door for misinformation. The latest misinformation about Prop 1 involves school funding.
Voters are being told that Proposition 1 will hurt school funding. This is absolutely not true.
It’s understandable to question how this measure affects school funding. After all, Proposition 1 lowers property taxes, and schools get all of their funding from property taxes.
However, in the legislation that resulted in Proposition 1, the Texas Legislature made it absolutely clear that school districts will not lose any funding as a result of the property-tax reduction.
Proposition 1 lowers property taxes, bans a sales tax on real estate, saves money for seniors and disabled Texans, and mandates that Texas reimburse local school districts for any loss in revenue.
That’s the 112-word ballot language in Lehman’s terms.
Mark Lehman is vice president of governmental affairs at the Texas Association of REALTORS®. Political ad by the Texas Association of REALTORS®.
Categories: In Lehman's Terms
Tags: proposition 1, elections, legislative issues

https://www.texasrealestate.com/advice-for-consumers/article/proposition-1-does-not-hurt-school-funding

Friday, September 18, 2015

How to get answers to your real estate questions ??

How to get answers to your real estate questions


Have you ever gone to one of those online property-listing sites and visited the message boards? People ask all sorts of questions, like
  • How much is my home is worth?
  • Should I add a deck before selling my house?
  • Can I qualify for a loan?
  • How much should my downpayment be?
It's tough to get straight answers to these questions from a stranger on the Internet. Why? They probably don't know the market for your neighborhood to determine your home's worth. They also may not know if buyers where you're located are looking for a deck. And it's unlikely you'd want share your personal financial details on a message board to get an accurate opinion on your creditworthiness or downpayment options.
There is one source you can ask these and many more questions, and it's a Texas REALTOR®. Texas REALTORS® in your market can access accurate data about recent home listings and sales, as well as actually visit your house to give you the right listing price. They also deal with buyers in your market and know what features they are looking for in properties right now. And they have many resources to help you understand the financial aspects of homeownership.
Instead of going to an online message board, navigate to the Find a Texas REALTOR® tool to locate someone who can answer your questions about buying, selling, and leasing property in Texas.
reposted from Texas Association of REALTORS®




Legal Disclaimer: The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on TexasRealEstate.com. Any legal or other information found here, on TexasRealEstate.com, or at other sites to which we link, should be verified before it is relied upon.



Thursday, September 17, 2015

It's is a SELLER'S Market. Let's Talk!!


We're about to reach the halfway point of recovery, but what's next?
The long-awaited housing price rebound is arriving. After eight years, more and more real estate markets are reaching or exceeding the prices they achieved at the peak of the housing boom in 2007.

For homeowners who have been frozen in place due to upside-down mortgages or excessive mortgage payoffs, surging home prices are restoring the equity they need to sell.

MetroTex Association of REALTORS 
  



Friday, September 11, 2015

Why It's a Smart Move to Use a Real Estate Agent

Why It's a Smart Move to Use a Real Estate Agent

Buying or selling a home seems to be a way of life for a lot of people in today's world. When you buy, you definitely want to get the most for your money. Many people think they can go it alone when it comes to buying or selling a house, and it's definitely true that some people are able to handle all the details of buying and selling a home or property, but in reality the real estate process is intricate and requires a lot of knowledge about the local real estate market, contracts, escrow, appraisals and referrals. While some home owners and buyers are in a position to go it alone, for those intimidated by the market or those who don't have the time or energy to sell or buy a home on their own, here are some reasons why it's a smart move to use a real estate agent during your next real estate transaction.

Local Expertise


You've lived in an area for some time – but while you may know about local amenities and activities, do you have a lot of knowledge on the local real estate market? Real estate agents know their markets: they know how much homes are selling for, they know what areas are highly desirable and they know which ones are up-and-coming. You can trust an agent to know the local inventory and know how to get the best price for a home or property.

Access

Real estate agents have a number of access points that a regular buyer or seller doesn't. They have access to listings before they are put in the MLS, and they have access to the homes! Many sellers are only willing to grant access to agents, which means that most buyers going it alone can only access homes during open houses. An agent working for the seller is only going to provide information with the seller's best interest at heart, so when you go it alone you might be only getting partial information from any questions you may have. Working with an agent will help provide private access to homes, and an agent will be able to get more information from the seller's agent.

Experience


Buying a home is an intimidating experience – you're making one of the biggest financial decisions of your life. As a buyer, you want to make sure stress and emotions don't get the better of you, especially when it comes to making important decisions. Real estate agents know what buyers and sellers go through – they've been there, as it's more than likely they too have made a real estate purchase of their own. While they have personal experience, they also have an experienced rational eye when it comes to the business portion of a real estate transaction. They possess clear judgement, and agents are a seller and buyer's biggest advocate for a successful negotiation. Real estate agents have the experience, knowledge and acumen to make the process as smooth and stress-free as possible.

Connections

The real estate transaction process requires a number of professionals and services. From a lender, home inspector, contractors and handymen for repairs, lawyers, and a number of other professionals and tradesmen, knowing the right people is beyond important when you want to have a smooth and successful transaction. Real estate agents are in the business, and their past experience has provided them with a number of respectable and dependable contacts and referrals than you'll find asking friends and family. A ready agent will come prepared with connections and people they are willing to refer because they've worked with them in the past and they know their track record. When you choose to work without an agent, you sacrifice the networking that naturally comes with being a real estate agent.

No Cost When Buying


If you're searching for a home or property to buy, having an agent is free. An agent's commission is paid by the seller, but most buyers don't realize this and entertain the idea of going without a Realtor during their home search. If a seller pays the commission, there is no loss to a buyer to take full advantage of all the services a real estate agent offers. It's also important to understand that even if you choose to go it alone when buying a home, you do not receive the commission a buyer's agent would. Commission rates are negotiated before the final sale and are included in the contract, meaning if you don't use a buyer's agent, the entire commission is paid to the listing agent.

Documents and Paperwork

Unless you're working with a brand new agent, most agents know the ins and outs of all the documents and paperwork required for a home sale or purchase because they've been through a number of transactions. From finding the comps of your market and drafting a purchase agreement, to contacting any other agents and the title company, a real estate agent will be able to provide help in the forms of knowledge, time and resources during the real estate transaction process. Agents also know the important parts of an offer or contract, especially when it comes to line items that could cost a lot in the end or things that are negotiable. Having an agent that knows the process, the paperwork and the documentation is a valuable asset when it comes to making one of the biggest decisions of your life.
repost from real estate advisor