Now is the time to buy!

If you’ve been on the fence about purchasing a home because you’re unsure of the market, it might be time for you to take a cue from the majority.

According to the National Association of Realtors’ most recent Housing Opportunities and Market Experience (HOME) Survey, nearly 70% of Americans believe that now is a good time to purchase a home. This buyer confidence is likely due to a number of factors, but one of the main factors at play is likely the upcoming increase in available inventory. According to a recent report on new constructionfrom the US Census Bureau and the US Department of Housing and Urban Development, builders completed new homes at a record rate in May 2018 (a seasonally adjusted rate of nearly 1.3 million) and approved another 1.3 million building permits—which means a ton of new inventory is about to flood the market, making it significantly easier for potential buyers to find and purchase homes.

The Takeaway

If you’ve been thinking about purchasing a home, it looks like it’s time to make a move and take advantage of what 70% of Americans believe to be a good time to purchase property.

Buying Activity Driven By Projected Mortgage Rates Increasing

The real estate industry has seen extremely low interest rates for quite some time, but all of that may be about to change, and it’s driving a massive increase in buying activity.

According to a recent report from Freddie Mac, interest rates on home loans are expected to jump an entire percentage point in 2018 (from 3.9% in Q4 of 2017 to 4.9% by Q4 of 2018). That jump can mean a mortgage payment that’s hundreds of dollars more per month—and tens of thousands more paid in interest over the course of the loan. And according to a recent article from the team at Realtor.com, the threat of rising interest rates is pushing a new stream of buyers into the market. According to the article, potential buyers who were “on the fence” about buying are now making purchases in order to lock in lower interest rates, creating even more competition and driving up prices.

The Takeaway

If you’ve been thinking about putting your home on the market, now is the time to do it. With historically low inventory and a new rush of buyers into the market, there has never been better conditions to get the most value from your home sale.

Navarro ISD recognized

Navarro ISD is being recognized for great things!

Congratulations to the staff and students at Navarro Intermediate School for being selected by Educational Results Partnership and the Institute for Productivity in Education as one of 727 public schools in Texas to receive the title of 2016 Texas Honor Roll School. The Honor Roll is part of a national effort to identify higher-performing schools and highlight successful practices that improve outcomes for students. Schools receiving this distinction from leaders in the Texas academic and business communities have demonstrated consistent high levels of student academic achievement, improvement in achievement levels over time and reduction in achievement gaps among student populations.

Congratulations to the HS staff and students for being selected as a 2017 Recognized Best High School from US News. The High School earned a Bronze recognition for high-performance on state exams, their graduation rate and college readiness scores.

Go Panthers!

Tour the new Navarro ISD Additions and Facilities

The community is invited to take a closer look at the number of additions and remodeled facilities now available in the Navarro ISD.

The school district tonight will be hosting a Navarro facility tour showcasing many of the great projects that have already come online throughout the district. Lacey Gosch, chief instructional officer for the Navarro ISD, says everyone is invited over to see many of the finished bond projects.

“At the junior high, science classrooms and the band hall, those facilities are already being used as well as the preparation for the tennis court and the baseball and softball concession stand, the new restroom facilities. The elementary school will be opening very soon. So we’re very pleased to be able to share a tour of these fabulous facilities with our community. We’re hopeful that our parents, our community members, business partners and students will be able to join us to celebrate the opening of these awesome facilities,” said Gosch.

The facilities tour will begin at 6 p.m. today at the elementary campus.

 

Groundbreaking! Navarro Intermediate School

Community members are invited to a short groundbreaking ceremony for the new Navarro ISD Intermediate School at 5:00 PM on Thursday, January 12. The Board of Trustees awarded the $15,512,500 construction contract to Kencon, LTD. for a building that will house up to 650 4th through 6th graders.
The school district staff is excited to get this project underway! Superintendent Dee Carter says that this is an opportunity to again thank all of community members who supported the bond election and everyone who is interested in the growth of the district.
The event will be held, weather permitting, at the building site on Link Road, just past the Elementary School, where parking will be available.

Homestead Exemptions Can Save You Money!

As a homeowner you might wonder if you get a break from property taxes, and the answer would be yes!  You may apply for a homestead exemption on your principal residence.  Homestead exemptions remove part of your home’s value from taxation, so they lower your taxes.  Not all homes will qualify, only the homeowner’s principal residence qualifies.  To qualify, a home must meet the definition of a residence homestead:  The home’s owner must be an individual and use the home as his or her principal residence on January 1 of the tax year.  The requirements vary some if you are age 65 or older or disabled.

A homestead can be a separate structure, condominium, or a manufactured home located on owned or leased land, as long as the individual living in the home owns it.  A homestead can include up to 20 acres, if the land is owned by the homeowner and used for a purpose related to the residential use of the homestead.

There are several types of exemptions you may receive.

  • School taxes: All residence homestead owners are allowed a $25,000 homestead exemption from their home’s value for school taxes.
  • County taxes: If a county collects a special tax for farm-to-market roads or flood control, a residence homestead is allowed to receive a $3,000 exemption for this tax. If the county grants an optional exemption for homeowners age 65 or older or disabled, the owners will receive only the local-option exemption.
  • Age 65 or older and disabled exemptions: Individuals age 65 or older or disabled residence homestead owners qualify for a $10,000 homestead exemption for school taxes, in addition to the $25,000 exemption for all homeowners. If the owner qualifies for both the $10,000 exemption for age 65 or older homeowners and the $10,000 exemption for disabled homeowners, the owner must choose one or the other for school taxes. The owner cannot receive both exemptions.
  • Optional percentage exemptions: Any taxing unit, including a city, county, school, or special district, may offer an exemption of up to 20 percent of a home’s value. But, no matter what the percentage is, the amount of an optional exemption cannot be less than $5,000. Each taxing unit decides if it will offer the exemption and at what percentage. This percentage exemption is added to any other home exemption for which an owner qualifies. The taxing unit must decide before July 1 of the tax year to offer this exemption.
  • Optional age 65 or older or disabled exemptions: Any taxing unit may offer an additional exemption amount of at least $3,000 for taxpayers age 65 or older and/or disabled.

For more information contact your county Appraisal District.

Navarro Moving Forward

Everyone has been talking about the great job our Navarro students are doing!  Here is an update:

Navarro Lady Panthers Volleyball team is State Bound!

The Volleyball State Tournament Broadcast Information – NFHS Network and Spectrum Sports will provide live broadcasts of the 2016 UIL Volleyball State Tournament on November 16-19 from the Curtis Culwell Center in Garland, Texas. To access the broadcast you must purchase a subscription to NFHS. The subscription costs $9.95.http://www.nfhsnetwork.com/events/uil/ab69c31db3

The Navarro Football team is moving forward to area playoffs as well!  Corner Post Real Estate and all of our community are behind these great kids and wish them the best of luck!

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

Selling Steps

The Market is moving quick and things are about to get busier!!!! Here is the process your will be guided through with a licensed Realtor.
Give us a call and we would be honored to help you out.

The Selling Process Shared from TAR website 2/13/115

Selling a home can be complicated—you’re not only selling one property but likely trying to find a new place to live. Here are some steps to take to ensure you’re prepared.

Find a Texas REALTOR®

Why? A Texas REALTOR® will save you time and money by setting the correct price for your home, marketing and showing your property, advising you about the pros and cons of offers submitted for your home, helping you negotiate favorable terms, and , and negotiating on your behalf. Ask your friends and relatives for their recommendations, or use the Find a Texas REALTOR® search.

Sign a Listing Agreement

The listing agreement allows the Texas REALTOR® to sell your home during a given period and compensates him when your home sells. The amount of compensation, the length of the listing period, and other terms in the agreement are negotiable.

Set a Price

If you ask too much, you may not find a buyer. If you price the home too low, you’ll cheat yourself out of money. Websites with quickie value estimators aren’t the way to determine the value of your home. Go to the only people with the data and the expertise to accurately read your market: Texas REALTORS®.

Market Your Property

In preparing your home for viewing by prospective buyers, remember that people buy on emotions. Your home has to feel right, or buyers will look elsewhere. Look at your home objectively and listen to suggestions from your agent about ways to make your home more appealing, such as cleaning, de-cluttering, removing personal items like pictures, making cosmetic repairs, etc. And talk to your Texas REALTOR® about his or her plans to advertise your listing and show your property.

Consider Your Options

When a buyer makes an offer, what do you do? Your Texas REALTOR® will help you review it and understand the pros and cons. If you’re lucky enough to have more than one offer, he or she will discuss your options to do what’s best for you. Once an offer is accepted by you and the buyers, the buyers will perform inspections and finalize the deal.

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.