4 Expenses Homebuyers Should Keep in Mind

01/29/2016 | Author: Jaime Lee from Texas Association of Realtors

“When starting your house hunt online, you’ll see that most real estate websites let you search by price range. But a real estate purchase will cost you more than just the sale price. Here are four costs you’ll want to consider before submitting an offer.
1.Downpayment Some lenders require borrowers to pay up to 20% of the loan at closing. It may take a while to save up that much, but paying a chunk of your loan up front will lower your monthly payment.
2.Mortgage insurance If you don’t pay at least 20% of the purchase price as a downpayment, your lender will probably require you to pay private mortgage insurance (PMI) that protects the lender if you default on the loan.
3.Closing costs Buyers and sellers can negotiate how much each party pays at closing. Unless the seller agrees to pay all of the closing costs, you’ll be responsible for paying a portion of these fees.
4.Monthly payment Your payments will cover principal, interest, taxes, and insurance. You may have other recurring expenses, such as HOA dues and home maintenance, to factor into your budget.

When you’re ready to become a homeowner, contact a Texas REALTOR® to determine how much you can realistically afford and which costs you can negotiate. ”

Corner Post Real Estate is here to help you plan and navigate thru the Home Buying process!
Katie Clark
830-305-0699

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

Navarro Crossing

Things are still growing in Seguin. Below is the article Seguin Economic Development posted today…. Enjoy!!!!

Navarro-Crossing-to-bring-duplex-condominiums-to-Seguin–Texas.html?soid=1107990347452&aid=axwy10YJSds

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

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

Tax Extensions Passed

Polychron on passage of tax extensions
Posted in Legislative, by NAR on December 17, 2014

National Association of Realtors® President Chris Polychron has issued the following statement on key legislation passed by Congress:

“The package of tax extensions approved by the U.S. House and Senate, and headed to the President’s desk for signature, includes important provisions that will help distressed homeowners and commercial property investors with transactions made during 2014. NAR applauds Congressional leaders in both chambers for their effort to pass this legislation before adjournment.

“Realtors® strongly supported the bipartisan Mortgage Forgiveness Tax Relief Act, which was included in the package to prevent underwater borrowers from paying taxes on any mortgage debt forgiven or cancelled by a lender in a workout or after their home was sold for less money than was owed. We are grateful to Sens. Debbie Stabenow, D-Mich., and Dean Heller, R-Nev., and Reps. Tom Reed, R-N.Y., and Charlie Rangel, D-N.Y., for championing the provision.

“The legislation also includes one-year extensions of the 15-year depreciation schedule for leasehold improvements and the deduction for improvements to energy efficient commercial buildings.”

Do I have to disclose a repair I made last year?

I found this article interesting and thought I would share. Hope you are all staying warm and enjoying the hustle of Advent. . .preparation for Christmas. About to “Deck the Halls” at our Corner Post Real Estate office.–Katie Clark, BROKER

I hired a licensed electrician last year to fix a wiring issue in my home. I’m putting my house on the market next week, and I know I’m supposed to disclose defects of the property. Since I had the wiring issue fixed, do I have to disclose it?

No, you do not have to disclose a previous wiring repair. While you must disclose known defects or malfunctions of your property, the only previous repairs you must disclose are those to the foundation, roof, or other structural repairs, such as a collapsed overhang. Since the repair of the wiring issue is not one of these types of repairs, you do not have to disclose it.

If you have made previous roof, foundation, or other structural repairs, you should disclose these items in Section 3 of the Texas Association of REALTORS® Seller’s Disclosure Notice. Section 4 is where you should disclose anything still in need of repair. Your Texas REALTOR® can provide more information about this form.

While you’re not required to disclose this electrical repair, keep in mind that it’s always better to disclose too much than too little. You’ll reduce your risk of facing future problems if you’re up front and honest in your disclosures.

11/04/2014 | Author: TAR Legal Staff