Texas Home Buyer Assistance Programs

The residential real estate market has been plodding along for most of the year. However, three recent reports show the market may be on the verge of a rebound. The residential real estate market has been plodding along for most of the year. However, three recent reports show the market may be on the verge of a rebound: 1. Existing Home Sales (closed sales) are up, marking two consecutive months of growth. 2. Pending Home Sales (contracts signed) are up with each of the four major regions reporting both month-over-month growth and year-over-year gains in contract activity. Here is the month-over-month growth: The Northeast rose 0.7% The Midwest increased 0.6% The South increased 1.4% The West grew 3.1% 3. Buyer Traffic (the number of people shopping for a home) is up compared to the same time last year, and for the first time in 13 months . The Northeast is up 5.9% The Midwest increased 1.3% The South is up 2.7% The West grew 2.2% In their most recent report, Show

By making a few key upgrades to your home, you’ll save on your utility bills and improve the energy efficiency of your home. When you’re ready to sell your house, these key features will make it even more attractive to potential buyers. As a homeowner, it’s important to keep your home running efficiently, not only to save money, but also to help the environment thrive. October 2 nd is Energy Efficiency Day , a perfect time to think about making some key upgrades that will improve the efficiency of your home. If you’re looking to sell your house and increase the pool of potential buyers in your market, the upgrades below are truly a must. According with Wallet Hub , “In the U.S., energy costs eat between 5 and 22 percent of families’ total after-tax income.” What should you spend on utilities? Money Management says, “If you’re working with a budget, and trust me, you should be, your utility costs should be no more than 8-10 percent of your monthly income.” How can you ma

You made an offer and it was accepted. Your next task is to have the home inspected prior to closing. Agents often recommend you make your offer contingent upon a clean home inspection. This contingency allows you to renegotiate the price you offered for the home, ask the sellers to cover repairs, or in some cases, walk away if challenges arise. Your agent can advise you on the best course of action once the report is filed. H o w to Choose an Inspector Your agent will most likely have a short list of inspectors they’ve worked with in the past to recommend to you. HGTV suggests you consider the following five areas when choosing the right home inspector for you: 1. Q ualific a tions – Find out what’s included in your inspection and if the age or location of your home may warrant specific certifications or specialties. 2. S ample Reports – Ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home. In most cases, the more detaile

The latest edition of the Realtors Confidence Index from NAR sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand). Until the supply of homes for sale starts to meet buyer demand, prices will continue to rise. The price of any item is determined by supply, as well as the market’s demand for the item. The  National Association of REALTORS  (NAR) surveys  “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions”  for their monthly  REALTORS Confidence Index . Their latest edition sheds some light on the relationship between  seller traffic  (supply) and  buyer traffic  (demand). Buyer Demand The map below was created after asking the question:  “How would you rate buyer traffic in your area?” The darker the blue, the stronger the demand for homes is in that area. The survey shows that in 3 of the 50 U.S. states, buyer demand is now very strong; only 2 of the 50 states have a ‘weak’ demand

Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time. Freddie Mac forecasts  interest rates will rise to 3.8% by Q4 2020. CoreLogic predicts  home prices will appreciate by 5.4% over the next 12 months. If you’re ready and willing to buy your dream home, now is a great time to buy.   source https://www.simplifyingthemarket.com/en/2019/09/27/what-is-the-cost-of-waiting-until-next-year-to-buy-infographic-3/?a=489394-750b3ad95b7715aa39b3f5a8d59f5d51

When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits might be even more valuable. In a recent survey , Bank of America asked homeowners: “Does owning a home make you happier than renting?” 93% of the respondents answered yes, while only 7% said no. The survey also revealed: More than 80% said they wouldn’t go back to renting 88% agreed that buying a home is the “best decision they have ever made ” 79% believed owning a home has changed them for the better Those surveyed talked about the “emotional equity” that is built through homeownership. The study says more than half of current homeowners define a home as a place to make memories, compared to 42% who view a home as a financial investment. Besides building wealth, the survey also showed that homeownership enhances quality of life: 67% of current homeowners believed the