When Is The Best Time Of Year To Buy A Home?

One question that pops up constantly from both first-time and seasoned homeowners alike is “When is the best time of year to buy a home?” Potential homeowners want to know the best time of year to get the best home for the lowest price – and ideally, at a time that makes sense for their life.

It would be great if there were a simple and straightforward answer, like “the best time of year to purchase a home is between April 1 and April 7.” But unfortunately, it’s not that simple.

Let’s take a look at the factors that play into answering the question “when is the best time of year to buy a home?”

Convenience

The first factor to consider when buying a home is convenience. This is particularly important if you have a family.

If you have school-aged children, you ideally want to move in between school years, so sometime between May and August. Pulling a child out of school in the middle of the year can be challenging, and children might have a hard time to adjusting to a new school in the middle of the year.

However, because so many potential homeowners have families that want to move during this time period, it drives up the prices, making the summer the most expensive time a year to buy a home.

So, if your main concern is convenience for your family, then summer is a good time to buy – just be prepared to pay a higher price than you would at other times of year.

Inventory

If your top priority is having a lot of houses to choose from, you’ll want to buy a house during the time of year when the most homes are on the market. That way, you’ll have your pick of multiple properties and are much more likely to find a home that has all the items on your wish list.

In most areas, the highest inventory peaks in the spring, right before the end of the school year. Inventory stays high throughout the summer and then starts to fall in early autumn, with the lowest inventory happening in late autumn and winter.

If you want a variety of homes to choose from, look to buy in the spring.

Price

If your main goal is to get an amazing home at a low price, the best time of year to buy is when competition is low. When there aren’t as many people looking to buy, it drives down the prices of homes, and you can purchase property at a significantly lower rate. On average, homes cost 8.45% less in January and February than they do in June, July, and August.

If you were looking at purchasing a $500,000 property, that would bring the price down $42,250 for a sale price of $457,750. That kind of price drop could save you a significant amount of money over the course of your mortgage and lower your monthly payments.

If you’re looking to get the most house for your money, purchasing a home in the winter is definitely your best bet.

The best time of year to buy a home is largely dependent on your needs and priorities. If you’re looking to buy at a time that’s most convenient for your family (and in particular, your children), buying during the summer is a great option. If you want to see as many homes as possible in order to find a property that has everything you’re looking for in a home, you’ll want to buy a home in the spring, when inventory is at its highest. And if your bottom line is you want to pay the lowest price possible, purchasing a home in the winter, when prices are significantly lower, will be the most advantageous.

Just keep in mind that finding and purchasing a home takes time; while it happens, the chances of finding a property during the first week of looking for a home are slim. On average, people spend 30 – 60 days looking for a home and another 14 – 60 days from contract to close, so make sure to give yourself plenty of lead time to take advantage of the time of year that’s best for YOU to purchase.

Myths about Real Estate

I love trivia… he’s useful information that helps understand some myths about Real Estate posted from NAR website on 2/26/15

Myth Article

To Stage or Not to Stage…

Thinking of Selling? Have your house Listed? Staging a home is recommended by Realtors often; some clients choose to and some don’t. Does it help? Here is an article posted by NAR on the Texas Association of Realtors on February 16, 2015…you decide…

Does Staging make a home sell for more?

01/29/2015 | Author: Editorial Staff

If you want to increase the price that buyers offer for your listing, staging the property might be the way to do it. According to NAR’s recently released 2015 Profile of Home Staging report, 32% of buyer agents surveyed said staging a home can increase the amount buyers are willing to offer by 1% to 5%. Sixteen percent said it could increase offer prices by 6% to 10%.

According to the report, the median dollar value to stage a home is $675, and 62% of seller agents offer the service to their sellers. If you want to give staging a shot, but do it on a budget, start with these five tips:
1.Try a theme for each room, like a reading nook or movie theater.
2.Remove personal items so buyers can picture themselves in the home.
3.Rework items a homeowner already has rather than making new purchases. This could be as simple as rearranging the furniture to highlight a room’s feature, or using old frames to display new artwork.
4.Paint the walls neutral colors.
5.Get a third party to suggest changes if you’re concerned about a seller having a negative reaction to your ideas.

87% of all homes qualify for some sort of down payment assistance program and over 90% of all DAP’s across the country are funded

Check out the link below to see if you qualify. Then give us a call. The market is active and moving out there!!!!!

Qualifying Programs

New HEB to be Built!!!!

Howdy! I get stopped quite a bit and asked how the economy in Seguin is looking and every time I go to answer; I have an addition to add to the growing opportunities come to this area…..

Shared from the Seguin Economic Development Page 1/28/15

Grocery store to provide new jobs, economic bonus for Seguin

(Seguin) — The construction of a new HEB store in Seguin is apparently more than just expanded products and more elbow room.

HEB General Manager Danny Crowson says the construction of the new store is in response to a growing customer base.

“I’ve been in this store for 14 years and felt like I knew just about every customer that came in here, but in the last six months, it’s been unbelievable to me. I go down on the sales floor on Saturdays and Sundays. I see new faces. I see younger people, a lot more younger folks are coming through the store than what they used to. When I came to this store 14 years ago, I believe our customer count was somewhere around 20,000 customers a week and now, we’re in excess of 30,000 customers a week (that) come through this store — 31,000 sometimes and as many as 32,000 customers in a week’s time come through this store. This town is growing and certainly things are changing,” said Crowson.

Crowson says the growing pains and changes in customers, however, aren’t only limited to Seguin. He says the local store attracts customers from all over.

“We have a lot of folks that travel 30-35-40 miles to shop in Seguin. Obviously, there’s other reasons to come to Seguin other than just groceries but we have a lot of customers in the Nixon, Stockdale area, Gonzales even though there is a new HEB there, there’s still lots of folks that come in here form Gonzales, Luling and San Marcos. We have a lot of folks that live right outside of San Marcos that come here and shop in this store and of course, it gets difficult to get around in New Braunfels during the summer time when all of the river people show up. There’s lots of folks that really live closer to New Braunfels, but don’t like the hassle and come into Seguin as well,” said Crowson.

Crowson says the new store, of course, will also mean\ the need for more employees at the store.

“One of the things that we will be doing is obviously — we’ve got about 249 — what we call partners — working at HEB today. We will be well in excess of 300 partners whenever the new store opens. So lots of new opportunities for jobs,” said Crowson.

A variety of positions are currently available. However, a large number of employees are expected to be hired during the summer. Those wishing to apply for a position are asked to submit their information to www.heb.com

Questions to ask about your first home inspection

Hello! Things are really moving out there. Contact us soon if you are thinking of Selling or Buying! We would love to help you out.

Poster from Texas Association of Realtor’s webpage:

01/02/2015 | Author: Jaime Lee

You’ll learn a lot about home inspections as a first-time homebuyer. Here are a few Inspection 101 questions that your Texas REALTOR® can answer when it’s time to look under the metaphorical hood of your first house.

Who pays for it?
As the buyer, you choose the inspector, pay him directly for the inspection, and the inspection report he generates is yours. If you don’t already have a home inspector in mind, ask your friends and family members for a referral, or your Texas REALTOR® may be able to recommend someone. Whoever you chose must be licensed by the Texas Real Estate Commission.

What does an inspector do?
An inspector will conduct an “objective visual examination of the physical structure and systems of a house, from the roof to the foundation,” according to the American Society of Home Inspectors. The inspector will go through the entire house and make note of any damage, need for repairs, or maintenance issues, and then give you a copy of the completed report based on his findings. It’s important to know that there could be defects a home inspector will not find and wouldn’t be expected to find if the defects are in areas with limited or no access.

When should I get an inspection?
Your Texas REALTOR® will discuss including a termination-option period in your contract to purchase the home. This is an amount of time during which you can conduct inspections, negotiate with the seller for repairs, and still have the option to terminate the contract.

Where should I be during the inspection?
You don’t have to be at the property during the inspection, but it’s in your best interest to be there. Your inspector may not mind if you accompany him and ask questions as he checks everything out, but be sure to ask first.

Why should I have this done?
Buying a home is probably the largest investment you will ever make, so you want to know as much as you can up front. A home inspector will point out items that need regular maintenance and identify any problems.

After your inspection is complete, talk with your Texas REALTOR® to determine if there are any issues you want to ask the seller to address before you move forward. A Texas REALTOR® has experience with the home-buying process and will make recommendations that are right for you.

Seguin Aerial Video

Happy Friday!!! I am enjoying this wintery weather. It makes me appreciate the upbringing I had and enjoy our active spring days and the warmth of our summer.

Seguin is in the spotlight again. The Seguin Economic Development Board did an outstanding job showcasing our wonderful town!!!
Enjoy and stay warm!!!

Seguin Shines

Don’t Be Fooled by these 3 Selling Myth’s

03/07/2014 | Author: Summer Mandell

First-time sellers beware: there are lots of myths out there about the right way to sell your home. While your Texas REALTOR® is your first line of defense against making these mistakes, here are three common selling myths busted:

Myth: I bought a house, so I know what it’s like to go through a real estate transaction. I’ll sell my home on my own and save money by not using a real estate agent.
Truth: Texas REALTORS® don’t work for free, but that’s because they provide valuable assistance through the home-selling process. Selling isn’t the same as buying, and a Texas REALTOR® can help you reduce your risk of making a costly selling mistake. Plus, they help clients with the ins and outs of property transactions every day and are plugged into your local housing market. If you DIY, that means you’ll have to spend time marketing your home adequately, be available to show the home yourself, and navigate your way through a tricky transaction alone.

Myth: If I price my home higher than market value, I’m leaving room for negotiations.
Truth: Buyers have no idea you’re employing this strategy and won’t understand why your price is too high. Many won’t even view your home, much less put in an offer. When your home is priced improperly, it’s more likely to sit on the market, making potential buyers think there’s something wrong it. When that happens, you’ll probably wind up with lower offers than if you had priced the home fairly at the start.

Myth: All I need to do is mow the lawn and hide my stuff in a closet and my home will be ready to show.
Truth: Is a mowed lawn and hidden clutter all it takes to attract you to a home? It won’t work for potential buyers of your property, either. Your Texas REALTOR® might go through your home with you and identify areas that could use some sprucing up to make your home more appealing. Or, he or she might recommend working with a home stager to make the best impression. Be open to those suggestions … your Texas REALTOR® knows what makes a property sell quickly for top dollar.

Shared from TAR Website

Why A Signed Contract Isnt the End of the Sale

Whew. The buyer and seller both signed the contract, so that’s it, right? The house is sold, and everyone moves on. Not so fast. There’s still a long way to go.

Unfortunately, sometimes real estate transactions that start out fine unravel for any number of reasons. But when you’re aware of problems that can occur, you may be able to avoid them. Here are a few to watch for and, if possible, avoid.

The buyer changes his mindThe residential contract includes a termination option, which allows a buyer to get out of the contract for a certain number of days. The buyer pays for this option, and the amount paid as well as the number of days are negotiated by parties to the contract. During the option period, the buyer can terminate the contract for any reason – or for no reason at all. He may get cold feet, change his mind, find a property he likes better, or learn something about the property that he didn’t know when he negotiated the contract.

An inspection reveals bad thingsSpeaking of learning additional information about a property, most buyers hire a professional inspector to examine the home and identify problems. Most of the time, this inspection occurs during the option period. If an inspection turns up something significant, the buyer may decide to exercise his option or he may decide that he still wants to proceed. He also may attempt to amend the contract, either by changing the price or by getting the seller to make repairs at the seller’s expense. Obviously, this introduces elements that can disrupt the transaction or end it altogether.

Financing isn’t available to the buyerIt’s not enough for a buyer to tell the seller how much he will pay for the home. The buyer must prove that he’s able to pay that much. If the purchaser isn’t paying cash for the property, he’ll need a mortgage. And if he can’t get that financing, that’s a deal killer. What happens when a buyer cannot secure a loan depends on how the contract was filled out. In some instances, the buyer may be on the hook for the earnest money – sort of a good-faith deposit – he paid. In other cases, the buyer will receive a refund of his earnest money.

The home isn’t worth the purchase priceEven if a buyer can qualify for the loan amount, the property may not. That is, most lenders require an appraisal of a home prior to making a loan. The lender wants to know that the collateral for the loan – the property itself – is actually worth the purchase price.

Title problems derail the processSome homes have title problems that can grind a transaction to a halt. Perhaps there’s a lien on the property or an easement that affects the quality of life of the property owners. There may even be a claim that the person selling the home isn’t the true owner after all.

And another thing …As you can see, there are many ways a promising real estate deal can crash and burn. Add the following to the list above: agreed-to repairs that the buyer deems unsatisfactory or incomplete; a surprise during the final walk-through of the home, such as an item that was supposed to convey that is no longer in the home; a sudden request right before or at closing; and plain-old default.

Whether you’re a buyer or seller, your Texas Realtor® can help you avoid these scenarios and give you good advice when a potential deal-killer does arise. Sometimes, she may suggest you turn to a lawyer, inspector, engineer, or other professional for assistance; other times, she may be able to put things back on track with a phone call or two. Either way, it’s nice to have someone on your side to help you achieve your goal of buying or selling a home.

For more information, I invite you to visit the redesigned TexasRealEstate.com.

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Real Estate is one of the Most Significant Industries in Texas

Going by the latest information from the United States Bureau of Economic Analysis, the third most significant industry of the Lone Star state is real estate. This industry typically contributes about 7.8% – 12% of the GDP (Gross Domestic Product) of Texas.

Texas real estate industry goes across the boundaries of the state and affects the financial activity of other parts of the nation as well. The interrelated finance dealings form a complex web that reflects the scenario of the modern economy. So whatever happens in Texas influences the entire country, and to some extent, the world as a whole.

U.S. bureau report highlighted some facts: 

  • For every $1 million of revenue generates by the Texas real estate industry, about $0.5 million of revenue is earned in other parts of state economy.
  • For every $1 million of revenue generated by Texas real estate industry, 5.16 jobs are generated in the real estate industry, and 5 jobs are generated in other industries in the state.
  • Texas real estate industry has the largest proportion of self employed individuals

About 0.5 million people of the state work in the real estate industry, making it 3.9% of the statewide employment.  Looks like it’s a good time to buy a home in Central Texas.