June 2016

Found 7 blog entries for June 2016.

A recent survey finds that among those who are seriously considering buying a condominium in the coming year, nearly a quarter of consider condo fees a key element in their decision. According to the study, participants think HOA fees “feel a lot like paying rent” -- sometimes causing buyers to switch focus toward properties for sale where they “won't have to pay the [high] monthly fees."

Psychologically, it’s understandable. The concept of paying $400 or more a month (condo fees vary from $100 to $1,000) as a “fee” on top of a mortgage can indeed feel a lot like paying rent. But not all costs associated with owning property are readily apparent.

For example, most condo fees include maintenance for common elements like landscaping, snow

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According to the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, homeownership is a better way to produce greater wealth, on average, than renting. The results from the first quarter index showed that “16 of the 23 metropolitan markets investigated moved in the direction of buy territory.”

The BH&J Index is a quarterly report that attempts to answer the question: 

Is it better to rent or buy a home in today’s housing market?

“The U.S. housing market, when considered as a whole, has swung marginally more in favor of home ownership over renting a comparable property and investing monthly rent savings in a portfolio of stocks and bonds.”

The latest results were released shortly after the S&P/Case-Shiller Home Price Index, which

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Homeowners who are puzzling over whether to add their property to the Dallas home market this year have more than just timing to factor into their decision. How their offering will stack up alongside the other home listings is a prime consideration.

The residential market has made good progress this year – and a strong majority of pundits expect more of the same for 2017. I deal with the home-buying public all the time, and so get an inside look and listen to what features and qualities wind up having the greatest impact on their buying decisions. Another way is to survey home listings across the nation to track buying trends: the features highlighted in home listings are just about the most market-sensitive indicator of all.

A look at those

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Building a new home exactly the way you’ve always wanted it may not be as unattainable as it might seem. To take the first step toward making any dream home real, you have to see if it’s practical: map out how much building it today would cost.

Start by nailing down your size requirement. Think of an existing home that feels right for your needs, and ask the owner for its square footage. Decide if you prefer a single or two-story structure, remembering that the smaller roof and foundation size makes a two-story new home less expensive to build.

Add-ons will add up. Make a list of any special features you consider important. While the difference between a standard tub and a $3,500 Jacuzzi tub for the master bathroom may seem unimportant, if

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It may be a fundamental element in nearly two-thirds of every residential real estate transaction, yet when you think about buying or selling a Dallashome, it’s not likely to be your major focus. Important though it may be, for most people, the appraisal process seems like a mere formality. After all, haven’t the seller and buyer already agreed to the deal? What’s left to do, other than dot the I’s and cross the T’s?

 

Of course, if you are a cash buyer, you can choose to skip the appraisal altogether. If so, congrats - you are ready to buy as soon as you find the right property! But for the rest of us, if a loan is involved, so too is the lender’s appraisal – or appraisals. Yet many real estate agents are not a part of this element.

The

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Everyone sees those TV commercials featuring sincere celebrities pitching reverse mortgages. If you are 62 or older, chances are you’re also subjected to glossy mailers (and even DVDs!) that show up in your mailbox at regular intervals.

Latest stats show that approximately 83% of baby boomers plan to stay in their homes during retirement. That may be why some Dallas homeowners who have built equity in their homes may be paying attention.

You can’t blame them if they have one overriding question -- is this some kind of scam?

Essentially, a reverse mortgage is just one way to tap into a home’s equity regardless of the owner’s credit score or income. Under a reverse mortgage, borrowers receive a monthly payment, line of credit, or lump sum.

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  1. Meet with a real estate professional: Discuss the type of home you're looking for, including style, price, and location.

  2. The Buyer's Advantage: As the home buyer, your agent's commission is paid by the seller of the home in almost all circumstances. This means your representation costs you nothing!

  3. Get Pre-Approved: You will need pay stubs, W2s, and bank statements. Knowing what you can afford is critical to a successful home shopping experience

  4. Search for Homes: The fun part! Your agent will schedule showings and help you find the perfect home.

  5. Advanced Search: Not all real estate websites are the same. Your real estate professional has tools and systems to ensure you see every available home that meets your

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