3/22/17 - The Truth About Renting Vs. Owning
Even if you think you're ready for the responsibilities of home-ownership, you may still wonder...
How risky is owning a home?
Many would-be homebuyers fear underwater mortgages and inescapable commitments because of the recent recession. The reality is that our nation is in a far safer place economically and Movement Mortgage is careful our customers don't take on more than they can handle.
Is owning that much better than renting?
Owning a home can be a smart financial investment with significant rewards. A monthly mortgage payment is invested into your own pocket, building home equity you or your family members can benefit from. You also have the freedom to use your property however you want to, which means you can decorate or renovate it to fit your changing needs.
How long will it take to get approved for a loan?
Movement Mortgage aims to issue a pre-approval in 6 hours and works to process each loan within 7 business days.
Will I feel stuck as a homeowner?
After committing to rental leases and agreements, homeownership is freeing. It's your home, you can do what you want with it, even sell it.
direct: (940) 395-5361
1600 Airport Fwy
Bedford, TX 76022
3/7/17 - 5 Secrets for an Easy and Budget-Friendly Home-Buying Process
For first-time buyers and house-hunting veterans alike, the process of searching for and purchasing a home elicits a whirlwind of conflicting emotions: excitement, frustration, apprehension, and uncertainty. These feelings can often obscure the logical steps involved in selecting the best possible home-at the best possible price.
No matter which stage you are at in the home-buying process, here are five important tips that will help you select a property that suits your needs without straining your budget:
- Exercise financial prudence in the months before buying a home. When determining your interest rate for a mortgage loan, lenders look for evidence that you reliably pay your bills and will likely be able to handle a major debt like a mortgage. Therefore, they tend to view negatively any recent transactions that could appear impulsive or risky. As you prepare to buy a home, financial experts often suggest that you avoid opening new credit cards, accumulating a lot of debt, or making major purchases. You should also know your credit score in order to have a better idea of how lenders will view you.
- If a property piques your interest, review the homeowners association (HOA) rules or local zoning laws to ensure that they support your intended uses. For example, if at some point you would like to rent out all or part of your property, check to make sure that the neighborhood permits it.
- When formulating a budget, consider all costs involved in buying and owning the home. Most buyers account for the down payment, monthly mortgage payments (including interest), the realtor's fees, and closing costs. However, home ownership requires many additional costs, including utilities, property taxes, homeowners insurance, HOA fees, and the costs of maintenance and upgrades. Estimating these expenses early in the home-buying process will help you create a realistic budget and avoid becoming attached to properties that will ultimately exhaust your finances.
- When you find a property that you like, consider how it fits with your long-term goals. Are you planning to have kids at some point in the future? Care for aging parents? Resell the home in a few years for more than you paid? Do you have children who will be going to college, leaving you with superfluous space? Regardless of your current intentions, consider how the variables in your life may affect how you will use the home in the future.
- Let logic-rather than emotion-rule the home-buying process. When searching for a new home, it is easy to become overwhelmed by the beauty of a property or one of its features, such as a brand-new kitchen or a breathtaking backyard. However, "falling in love" with a home based on an initial emotional reaction can cause you to overlook serious flaws. To avoid this common pitfall, consider making a checklist of your needs or must-have items for a home, things that you would like to have, and things that you absolutely do not want in a property. Bring this checklist to each home you visit so that you can make sure a contender meets your objective criteria.
2/22/17 - Have a new agent!
Welcome to the Team!
Gail Harpole was born and raised in the metroplex. Gail currently resides in Tioga Texas with her husband and daughter. Gail is currently working in a professional occupation of 20 years and has decided to take on a real estate career. Gail loves to make people smile and she is career oriented. One of the reason she took on real estate, is she wants to help others with their dreams of owning a home. Gail is currently a member of Tioga Community Church and volunteers on a regular basis. She is ready to take on the challenge as well as helping clients in the area with helpful ideas and keeping you updated with what's going on in the marketplace.
12/30 - Your homebuyer Q+A Digest
How long does it take to raise my credit score back up from 480?
How far out from buying a home should I start my own appraisal?
Can I trust the 'We Buy Houses' quick sale companies?
12/16 - If you are getting ready to buy a home, I bet there are some mistakes you are about to make and you have no idea how harmful they will be.
Fortunately, you can simply read the rest of this short article and be armed with the knowledge that will help you be different from most home buyers.
You see, most home buyers end up unhappy with their purchase. In fact, when Chase Bank conducted a survey of recent homebuyers last year, they found that 80% wish they would have known more about the process of buying a home before they purchased, and the majority would have done things far differently.
So avoid these 6 traps that will cause you anguish and cost your money the next time you buy a home.
- You will save money if you hire your own agent - First on the list and the first thing you need to do. Question: How do 80% of homebuyers choose their real estate agent? Answer: They don't. They go out looking for houses and end up with a random assignment. This is the single greatest mistake caused by buyer ignorance, as most do not know that 95% of real estate agents are part-time and poorly trained. They do not know all the ways to save a buyer money, and they get out-negotiated in the one or two transactions they do every year. Go out and hire the best buyer's agent you can find, then go looking at properties.
- It matters what property search tool you use - If you are planning to buy a home in a year or so, I guess it does not really matter what property search tool that you use. After all, good homes don't stay on the market for a year, so if you are long-term, you'll be looking at homes that won't be available when it comes time for you to get serious. But most of the large property search tools are loaded with homes that are not available (many do it on purpose so that you find them for every property address, even those not on the market). If you are really wanting to see what you can buy within your budget, you need to be using the best local search tool for your housing market (here is the home search tool for Tallahassee).
- You cannot buy an overpriced home - Overpriced homes are being marketed by homeowners who are not yet motivated to move. How do you negotiate the best price possible with somebody who really isn't ready to sell their home? When you go look at overpriced homes, only two things can happen. 1. You won't like the home because it is not as nice as the other homes you have been viewing in a similar price range, thus you have wasted your time looking at the home. or ... 2. You will like the home. You will then either fail to get the home because the seller will want you to pay more for the home than it is worth, or you will get the home by overpaying. Do you really want to over-pay for a home? If you are financing the home purchase, the bank will not finance the amount of your over-payment, so expect to also bring that to closing with your down payment.
- There is a "best" offer you can make for each home - We have trained our buyer specialists to be able to assess current seller situations and utilize a negotiation methodology most likely to produce a best price for a buyer. Here's the thing ... You don't use the same method with every single homeowner. They are all in different situations, they have priced themselves into the market differently, so a champion negotiator is going to utilize the method that best fits the scenario. Every home (and every homeowner) requires a custom solution during the negotiation process. There is a "best" offer you can make, and you can only ascertain the price and terms of that offer after examining the seller's situation in each and every deal. So if your plan is to "come in low and see what the seller will do," plan on joining the list of 80% of homebuyers who are not fully satisfied with their purchase.
- The best way to buy a home is "as is" - This point is incredibly important, and it would require far more writing than the space within this article will allow. Suffice it to say, there are constraints that could negate this issue, such as a buyer being low on cash and not being able to handle repairs that are needed. But generally speaking (meaning for the majority of buyers in the market), you will get a better deal and end up in a home in better condition if you buy a home utilizing "as is" language in your contract. Why? Again, too many issues to cover here, but the simplest answer relates to the fact that you will choose how to address each and every issue with the home, rather than relying on a seller who is only trying to get rid of the home. Do you really want the departing owner deciding the level of quality of repairs and replacements being made "on your behalf?"
- The terms of the deal are more important than the price - Unless you are a cash buyer, there are ways of getting a better deal by focusing on the terms of the contract as opposed to merely focusing on price. This is why your buyer's agent needs to be an expert, someone who negotiates several contracts each and every month (not somebody learning with you). There are so many ways to hide value in a contract, and most sellers and real estate agents merely focus on the sales price in a transaction. As I tell my agents during our regular contract training classes ... "If you can show me how to live there for $500 per month, I don't mind paying $1M." In other words, there is more to a contract than just the sales price, and a great buyer's agent will ensure that you squeeze as much out of your purchase as possible.
11/28 - Tax Benefits - Purchasing a home in 2016 is good for your bottom line when tax time rolls around. If you close by December 31, you can deduct property taxes, mortgage interest, origination points on your loan, and interest costs — all while building equity in your home. These deductions can be huge money savers, especially in the early years of your loan when you're paying off interest.
Call me at (940) 202-2772 for all the deductions that you can qualify for.
11/9 - Want to know about representation from a Broker/Agent if you are selling a home? The broker becomes the owner's agent by entering into an agreement with the owner, usually through a written listing agreement, or by agreeing to act as a subagent by accepting an offer of sub-agency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner's agent anything the buyer would not want the owner to know because an owner's agent must disclose to the owner any material information know to the agent.
10/14 - From dating to banking to entertainment, technology shapes every aspect of modern life. Therefore, it is unsurprising that technology has revolutionized the real estate industry and in the race to attract buyers, sellers and agents who do not leverage the latest tech trends risk falling behind the competition. According to the National Association of Realtors, 89 percent of today's buyers use online tools as they search for a home. Given this statistic, it is crucial that listings include high-resolution, professionally shot photos in order to pique buyers interest as they scroll through multiple online listings, and social media.