Equity Report

Some Highlights: 85% of homes valued under $200,000 have equity 94% of homes valued over $200,000 have equity 10.2% of homes with a mortgage are currently underwater
http://www.homesforsaleinirvingtx.net/equity-report/

Checklists for finding the Right Neighborhood

Choosing the right neighborhood is as important as choosing the right home. Every individual has different views and needs in a neighborhood. But here is a checklist of what most people want in a neighborhood: A neighborhood that is near schools. Whether or not your kids are going to school, a neighborhood near schools can boost the value of your home. Easy access to transportation is an important factor. Check if it is close to public markets and stores, to government offices and of course to your job. Check how long it takes  you to get to and from work and to other public places. Consider what amenities you need and want. Check the lifestyle of your children, if they are active in social activities and what their interests are. These are the most important things to check when choosing the right neighborhood for you.  Call Homes for Sale in Fort Worth TX to help you find the best home that suits your needs and budget, in a neighborhood you love.
http://www.homesforsaleinfortworthtx.org/checklists-for-finding-the-right-neighborhood/

Buy vs Rent: What Really Creates Family Wealth?

There has been recent press regarding whether or not it makes better financial sense to rent rather than buy in today’s housing market. As an example, the recently released June Summary of the BH&J Buy vs. Rent Index reported: “…as of the end of the first quarter of 2015, the housing market in the U.S. and all cities in the index are trending either closer to renting being the superior option or strictly favoring renting over purchasing a home.” The summary goes on to explain that: “The index conducts a “horse race” comparison between an individual that is buying a home and an individual that rents a similar quality home and reinvests all monies otherwise invested in homeownership.”(emphasis added) Though the math may be correct, we are not as sure of the conclusion. Even if you check the methodology offered by the BH&J report itself, you will find that they realize: “…any extra savings from renting might be spent on non-wealth enhancing goods resulting in any ben
http://www.homesforsaleinirvingtx.net/buy-vs-rent-what-really-creates-family-wealth/

4 Reasons to Buy NOW!

Summer is here! The temperature isn t the only thing heating up right now, so too is the housing market! Here are four great reasons to consider buying a home today instead of waiting. 1. Prices Will Continue to Rise The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 11.8% (most pessimistic) and 26.7% (most optimistic). The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 2. Mortgage Interest Rates Are Projected to Increase Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have started to inch up, most experts predict that they will begin to rise even more over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are
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How Well Do You Understand Escrow?

Escrow is defined as a deposit of money or funds entrusted to a third party to take responsibility for the insurances and taxes. Whether you are a buyer, seller, you will need to understand escrow, as it is part of the real estate process. It is likely in the buying or selling process, you will borrow money from a lender in the form of a mortgage and repay it monthly to the bank for a specific period of time. Aside from your monthly payments on a home, you will also be responsible for monthly insurance and taxes in the form of escrow. Occasionally, people are unable to pay the monthly payments and the insurance and taxes together, which is where escrow comes in. A lender will offer you that he/she will be the one to take responsibility for the monthly insurance and taxes, with the lender earning interest. Homes for Sale in Fort Worth suggests that you escrow your homeowner’s insurance and taxes to automate the process. We know that is requires a significant money to start an escrow
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Ways to Add Character to Your Home

How long have you been living in your home? Have you noticed that your home has become old and does not have its own glow? If yes, then this may be the time to you add character to your home. Here are some ways that could help adding character to your home: Add crown molding to your home. Crown molding can add architectural and character interest to your home.  Crown moldings is the easiest and is expensive. Moldings can be applied into floors, ceilings and windows. Add cabinets that look built in. Remember that storage space is a very important factor in a home. Adding cabinets that look built in have a reasonable price point. Light up your home with new led bulbs. Replace the doors and windows with crystal, brass or colored glass. Add a reading space or nook. A home with reading nook is really inspiring and adds charm to the home. Mentioned above is just few ways of adding character to your home. If you don’t have a plan for selling your home, take some time and money to brighten
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Do I Need Perfect Credit to Buy a Home?

Some Highlights: The average FICO score of Approved Conventional Loans was 757 in May The average FICO score of Approved FHA Loans was 688 in May Since April 2013, the ability of Americans to obtain a mortgage has increased substantially!
http://www.homesforsaleinarlingtontx.org/do-i-need-perfect-credit-to-buy-a-home/

How Will Mortgage Rate Hikes Impact Home Sales?

When mortgage interest rates begin to climb, experts immediately begin to discuss home affordability indexes. They calculate how an increase in rates will slow home purchases as more and more potential buyers are priced out of the market. Today, with home prices also increasing, many believe that home sales may slow down rather dramatically. This may prove to be true in the long term. However, in the short term, increasing mortgage rates may have the opposite effect. Many buyers who have been sitting on the fence may realize that delaying their purchase no longer makes sense. Last week, in a CNBC article, Matt Weaver of Florida-based PMAC Lending explained the impact an increase in rates will have: These increases really help the home-buying market. It really gets buyers to really understand that wait a minute, rates are at an all-time low, let s react now, let s react before they go higher’.” As an example, we can look to 2013 when interest rates spiked up by a full percentage po
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Mortgage Rates Just Jumped Over 4%. Now What?

Last week, mortgage interest rates jumped over the 4% mark for the first time this year according to Freddie Mac’s Mortgage Market Survey. In an article in Housing Wire, a Bankrate analyst explained: “Mortgage rates rocketed higher following a stronger than expected monthly employment report. The good news on the job front further solidifies the notion that the Federal Reserve will likely begin raising interest rates soon, perhaps in the third quarter of this year.” This is the same type of commentary we heard back in the spring of 2013 when the talk of the Fed possibly raising rates caused mortgage interest rates to surge by a full percentage point from the end of April through the end of June of that year. Will We See that Same Surge in 2015? No one knows for sure. However, Fannie Mae, Freddie Mac, the Mortgage Bankers Association and the National Association of Realtors are each calling for rates to continue their upswing over the next six quarters. Here is a chart comparing
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5 Demands You Should Make on Your Listing Agent

Are you thinking of selling your house? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the commission they charge; just like a great doctor or great accountant. You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one. Here are the top 5 demands to make of your Real Estate Agent when selling your house: 1. Tell the truth about the price Too many agents just take the listing at any price and then try to the ‘work the seller’ for a price correction later. Demand that the agent prove to you that they have a belief in the price they are suggesting. Make them show you their plan to sell the house at that price – TWICE! Every house in today’s market must be sold two times – first to a
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Proper Homebuyer Etiquette

Are you a first time buyer or a repeater? Are you wondering what is the proper etiquette in home buying? If so, then please be guided with this proper etiquette and tips. Most of these are  common sense, however most buyers does not know about these. When buying a home, a buyer must always be prepared. Before getting into the process of buying, it is important that you have in hand a mortgage pre approval letter. This is proof for the seller that you are serious about buying a home and are a qualified a potential buyer. This letter details how much can you afford to spend on a home. Another important item is being honest and open with your realtor. Remember that your realtor is part of your team and also your advocate. For example, if you don’t like a house or you’re unsure about something, let them know so they can find solutions. Another important etiquette is be on time. It is a simple item, but it’s important to be on time when there are meetings. Make sure you can control
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Unexpected Benefits of Owning A Home

Buying a home has many kinds of benefits and advantages, including tax benefits and advantages. The housing market is unpredictable and  may change over time. There may be a time where interest rates are low and prices are high or vice versa.  Experts can’t predict these changes but there are warnings and signs for us to consider. Buying a home has been considered as the greatest investment and we are informed by our agents the expected benefits of owning a home.  However, there are unexpected benefits that may surprise you when buying a home: The pride of ownership We know that you’ve work hard, spent time and energy to buy your dream home. You have control of your house If your house is older and disarray, you can  makeover your home to your style. Social benefits When you move to a new place, you will have new opportunities to make friends and boost your social interaction within the new community. Credit Offers Once you purchase a home, credit offers will increase. Call Ho
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Sales Up In Almost Every Price Range

The National Association of Realtors’ most recent Existing Home Sales Report revealed that home sales were up rather dramatically over last year in five of the six price ranges they measure. Only those homes priced under $100,000 showed a decline (-10.1%). The decline in this price range points to the lower inventory of distressed properties available for sale and speaks to the strength of the market. Every other category showed a minimum increase of at least 9%, with sales in the $250,000- $500,000 range up 21.2%! Here is the breakdown: What does that mean to you if you are selling? Houses are definitely selling. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit with your agent and see if it is priced appropriately to compete in today’s market.
http://www.homesforsaleinarlingtontx.org/sales-up-in-almost-every-price-range/

Useful Tips for Writing a Listing

People have different reasons for selling a home they love. Whatever the reasons may be, when you decided to sell your home,  you want the world to know you are selling your home by making use of your marketing skills. If you are a first time seller, let Homes for Sale in Fort Worth TX guide you. Here are useful tips for writing a listing for your home: When writing a listing, identify the top features of your home.  Not all buyers will read the full listing, so we recommend you highlight what makes your home stand out from the rest at the beginning of the listing. This will make them more likely to come back to your home to learn more. When writing a listing, we recommend keeping it under 250 words. Provide enough information about your home to capture their interest and keep them wanting more. Make use of bullet points to highlight the important details of your home. We understand that you are proud of your home and want to tell everything about it. Writing a listing, making use o
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Top Real Estate Myths

In the real estate world, it is common to receive advice and tips from your family and friends. Some of their advice maybe helpful but some are not. People make some generalizations and conclusions based on their experience. Here are some of the common tips and advice you may hear: People will often say you should wait to list your home during spring believing the housing market is seasonal.  This however can vary from city to city. Home inspection is not necessary when the home you plan to buy is newly built or renovated. It is actually critical to have your home inspected during the option period. In selling, home staging is not important because you think you are in a good neighborhood and is your home is updated.  Staging is important, regardless of your home’s location or condition. Price your home high so that there will be a room for negotiation. We all know that identifying the price of a home is very important because pricing your home too high, will drive off potential b
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Buy Vs. Rent

There is a big difference between owning a home or renting a property. Buying a home has been considered as the greatest investment for most Americans.  Renting has been seen as a choice for someone who has no plan to stay for an extended time in one place. Be it buying or renting, each and every person has his own reasons for their choice. The advantage of buying a home is you are paying monthly payments for your home ownership and building equity for your home.  You are paying for something that will be yours in the future whereas when renting you are building the landlord’s equity. When you own, you have all the freedom on what you would like to do with your home. You are responsible of the repair and maintenance costs. The disadvantage of purchasing a home is that it requires a good credit and is a long term commitment for the term of the loan.  It is important you understand the responsibilities required of home ownership. Renting is for someone who is adventurous and may tr
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217,726 Reasons to Buy a Home Now!

The inaugural Opportunity Cost Report was released recently by realtor.com. The report explained that “with interest rates and home prices expected to climb in the next year, the financial penalties of delaying or forgoing a home purchase in today s market have become very steep”. The report estimates that, based on today s dollars, the average purchaser would accumulate $217,726 in increased wealth over a 30-year period. (You can get the projected wealth increase for almost 100 metros here.) What could this mean to someone sitting on the fence waiting to buy? Experts believe that both home prices and mortgage interest rates will increase over the next twelve months. Obviously, if this does happen, the monthly cost of a home a year from now will be dramatically higher than it is today. The Opportunity Cost Report breaks down exactly how much a purchaser could lose over increments of one year and three years. Here are the results based on an average purchaser in the U.S. delaying t
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2 Out of 3 Renters Want to Own. What’s Stopping Them?

The Federal Reserve Bank of New York recently released the 2015 SCE Housing Survey. The survey revealed that most current renters would prefer owning and that 61.9% of them plan to buy a home within the next five years. 68.3% stated they would prefer owning (with 45.6% saying they ‘strongly’ prefer owning). When asked at what point in the future do they think they will own a primary residence: 8.2% said within a year 15.3% said in 1 to 2 years 38.4% said between 3 to 5 years What’s Holding Them Back? Of the 68.3% who would prefer to own, 2 out of 3 cited difficulty in getting a mortgage for the reason they do not own. However, many believe that the reason so many think that it would be difficult to get a mortgage is not fully based on current market realities. For example, studies have shown that there is confusion over the amount of money needed for a down payment. Research has shown that 40 to 50% of Americans believe that between 15-20% is the minimum required for a down paym
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Staging Your Home With the Help of a Professional

When selling a home, it is very common that the very first step a seller does is to prepare and stage the home for sale. This includes cleaning, de cluttering, repainting, fixing some issues and depersonalizing. This prep work ensures that the home will be completely ready for viewing. Staging can be a tool for buyers to visualize themselves with the home you are selling and also can be a distraction from the real issues and problems of the house. Don’t be too enchanted with the staged home, but instead ask yourself this questions: Check if the home is over decorated. Check if the home is dressed to impress. Does the seller’s home staging make sense? Check if there are hidden issues and problems that needs to be repaired. Is the home staging over done? For example, are there a lot of air fresheners that mask the odor of the pets? Is the furniture proportionate to the space of the house? If you want to feel confident when buying a home and avoid regrets, ask the home seller to move
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Advantages and Disadvantages of Using the Help of a Broker

Selling a house is different from selling a simple thing. It is more complex and has a process to be followed. Selling a house does not take hours or days but may take months or even years. There are many people and professionals involved in selling a house. Lets take into consideration the pros and cons of using a realtor/broker. Pros of using a realtor/broker: In using a realtor, the burden of selling a house is shouldered by the realtor. From preparing your home to negotiation, it is all the work of the realtor.  Your responsibility is to wait patiently and  you will be informed of the process and updates on the sale. With the use of a realtor, the selling process can be faster that you expected because they know the ins and out of the selling process. Cons of not using a realtor/broker: If you don’t want the help of a realtor, then you will be removing the large commission a realtor earns and converting it into a profit of the sale.  You will have the control of the selling p
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Ways to Maintain the Value of Your Home

Owning a  home has been considered as the greatest investment made by most Americans. It is also likely that many homeowners are planning to sell that home in the future.  It is very important that when you own a home, you maintain it so that it will still have its value in the future. The value of your home is one of the most important factors in selling a home. Maintaining your home can be a big help in getting the most money of your home. Here are the ways to maintain the value of the home: Clean and maintain the attic of your home. The cleaning should be done regularly to avoid it as the residence of the bugs, rodents and any other living animals. Take proper care with the woods throughout your home to avoid cracks and breaks in your home, whether inside or out. Control and take repairs on the bugs and damage of the home. Maintain a general cleaning of your home. These are important ways to maintain the value of your home. These smart investments could help maintain the value of
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Things to Do that Really Add Value to Your Home

Selling a home is a complex process. Most people know that selling a home also requires home staging and remodeling your home to de-personalize it and add value to your home. There are many tips being offered online for remodeling that can add value and make your home stand out from the rest. Here are the top things to do that really add value to your home: 1. Exterior Painting Painting the outside of your home will make your home fresh and new. 2. Re-modelling the Kitchen One of the parts that a buyer loves is a highly practical and modern kitchen. 3. Bathroom remodelling A bathroom should have a relaxing atmosphere and be clean. 4. Garage and Attic Conversion Garages and attics are not really necessary but most home buyers today are looking for more space in the interior part of the home. A garage and attic conversion maybe a good idea for home buyers that wants more space without costing more. 5. Additional of Rooms Adding a room is not the same as the garage or attic conversion. A
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Mortgage Rates Over The Last 40 Years

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The #1 Reason to Buy Right Now – THE MONEY!!

People often ask whether they should buy a home now or wait. Recently released data suggests that waiting may not make sense as prices seem to again be on the rise. Let’s take a look at some of the data and commentary on the subject: Ed Stansfield, chief property economist at Capital Economics: “The current tightness of supply conditions would normally be consistent with much faster price growth. The continued steady growth in home sales that we expect this year will only add to this upward pressure on prices.” Case Shiller Home Price Index “The S&P/Case-Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, recorded a 4.1% annual gain in March 2015 … with a 0.8% increase for the month.” Anand Nallathambi, CEO of CoreLogic “All signs are pointing toward continued price appreciation throughout 2015… Tight inventories, job growth and the impact of demographics and household formation are pushing price levels in many states toward record levels.
http://www.homesforsaleinirvingtx.net/the-1-reason-to-buy-right-now-the-money/

Guess Where Residential Rents are Heading?

Each month, many people are faced with the decision of renewing their rental lease for another year or purchasing their first home. One of the questions that must be answered before they make a decision is – “Where are rents headed?” The Wall Street Journal recently wrote an article on this issue. Their conclusion: “Apartment rental increases slowed in the first quarter from a year earlier, but the move is more likely a temporary blip than the beginning of a long-term respite for renters.” The article goes on to quote Ryan Severino, a senior economist at Reis: “I wish I had a better story to tell renters these days, but I think they’re in for some rent increases for the foreseeable future.” Probably the most interesting part of the article came in the Comment Section where a proud landlord proclaimed: “As a landlord I can tell you I don t pay property tax. I don t pay for repairs. The tenant pays. I get my money off the top.” Here is a chart showing rent increases
http://www.homesforsaleinfortworthtx.org/guess-where-residential-rents-are-heading/

5 Reasons You Shouldn’t For Sale By Owner

In today s market, with homes selling quickly and prices rising some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers. Here are five reasons: 1. There Are Too Many People to Negotiate With Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner: The buyer who wants the best deal possible The buyer’s agent who solely represents the best interest of the buyer The buyer’s attorney (in some parts of the country) The home inspection companies which work for the buyer and will almost always find some problems with the house. The appraiser if there is a question of value 2. Exposure to Prospective Purchasers Recent studies have shown that 88% of buyers search online for a home. That is in comparison to only 21% looking at print newspaper ads. Most real estate agents have a
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