Moving With a Spouse or Partner

You have your idea of your perfect dream home. The love of your life has a different idea. You love your spouse or partner, and that’s why you’re moving with them, but different visions are bound to cause friction. You may see couples squabble all the time on reality TV house hunting shows, but there is a grain of truth to those hyped up conflicts. You’ll probably find yourselves disagreeing over location, must-haves, and even budget.

Here are a few ways to endure those disagreements without biting each other’s heads off and find a new home that works for both of you.

Communicate Your Visions

Before you start looking for houses, sit down at the kitchen table with a notepad and a couple glasses of wine. Each of you take turns writing down everything you want from this move. What do you want in a location? What do you want in our home? Underline or put a star beside the things that are most important to you. What do you have in mind for budget? Discuss each point as you go. Maybe your spouse likes the idea of living in the quiet outskirts, but your point about saving gas on the ride to work changes their perspective. Just make sure your mind is open to a changed perspective as well.

Once you’ve discussed, write down a new list of all the things you agree on. This is what you should prioritize when you talk to your real estate agent. You may still disagree on some points after you’ve talked, but laying it all out in the open will help to keep those disagreements peaceful.

Create a Grading Scale

What happens when you fall in love with one house that your spouse hates and they fall in love with another house that you’re not too keen on? In that case, a little objectivity is needed. Create a grading scale based on the things that are most important to both of you: let’s say budget, certain amenities, or impact on your lifestyle. After each house, you and your partner can grade each home in order to determine what really is the best fit for you. It can be hard to put your heart aside for the moment, but using this objective scale may help you to look at a house that didn’t make a stellar first impression in a new way.

Be Willing to Compromise

They like to have open space. You like to be right in the heart of the city. They want character, you want new appliances. Chances are, someone is going to have to compromise more than once, so you should prepare yourself for not getting everything you want exactly as you imagine it now. Be fair about compromise. If they gave up their perfect location for you, be willing to allow a little bit of character for them. No one should have to give up their vision completely, but you’ll each have to bend somewhat.

Talk to a Realtor

A realtor is a must even if you’re moving by yourself. However, when faced with the tricky navigation of finding the best home for both you and your partner, you want an expert. Your real estate agent has probably seen this before and knows how to help you come to a compromise that works for everyone.

House for Sale In College Station

Sarah Miller, your RE/MAX realtor bryan-college station can help you discover a lot of great tips for making a profitable sale of your home. Call Sarah Miller at 979-255-1904 for your real estate needs in Bryan-College Station and the entire Brazos Valley! Sarah Miller, Associate RE/MAX BRYAN COLLEGE STATION 3030 University Dr East Ste 100, College Station, TX 77845 License #: 500065

How to Make a Small Kitchen Work

You found a home that’s almost perfect. It has as many bedrooms as you need with an extra for a guest room. It’s in your favorite neighborhood. Your whole family loves it. There’s only one problem. The kitchen is a bit cramped.

A small kitchen probably isn’t a reason to say no to your dream house, but it can be a frustrating thing to live with. However, by optimizing your space, you can fit everything into your kitchen and still have room to breathe. Here are a few ways to make a small kitchen livable, especially if you cook regularly.

Drawers

If you want to make your small kitchen more workable and spacious, don’t rely on cabinets, cupboards and pantries. Instead, make the most use of drawers — and if you don’t have enough drawers, maybe that can be your first remodeling project. Because drawers stay flat against the cabinet, they give you more space to move around the room. Because drawers are lower, they’re easier to reach without having to stretch. It also helps your kitchen to look neater overall.

Vertical Storage

Vertical storage will quickly become your best friend when you need to make the most of a small kitchen. It takes up less space and may even help the room to feel taller. Add a few floating shelves over the kitchen sink or buy a narrow but tall cabinet that can be pressed against the wall between other appliances.

Backsplash

Your kitchen backsplash is an excellent aesthetic feature that protects the wall from spills and splashes, but it can do more than that. Consider a magnetic backplash or a stainless steel pegboard. Through this, you can hang spoons, knives, and other utensils on the backsplash, saving you on storage space, and even adding a cozy charm to your backsplash.

Kitchen Table Alternatives

Maybe you don’t have room for a kitchen table or an island, but that doesn’t mean you can’t have any dining space. Consider turning a small portion of the counter into a mini bar with a couple of stools set up there. Another option that’s growing in popularity is folding tables. These tables are built against the wall, and when you’re finished eating, they can fold flat against the wall. They’re handy for the chef, as well, because folding tables can double as counter space. You may also be able to add a pull-out addition to your countertop for a little extra counter and dining space.

Magnetic Spice Tins

Magnetic spice containers are a great option for someone who needs to save space in their small kitchen. Not only are they adorable, round with glass tops to show the spice itself, but they open up a world of spice rack alternatives. Maybe you can stick them to your refrigerator, or to your stainless steel backsplash. You can hang a magnetic chalkboard to the side of your cabinets and label the name of each spice below the tin in chalk.

Don’t let a small kitchen hold you back from the house of your dreams. If you use your space wisely, the kitchen may become as beloved to you as the rest of the house. And if you’re still looking for your dream home, talk to an experienced College Station realtor about the best finds in the neighborhoods you love.

House for Sale in College Station

Sarah Miller, your RE/MAX realtor bryan-college station can help you discover a lot of great tips for making a profitable sale of your home. Call Sarah Miller at 979-255-1904 for your real estate needs in Bryan-College Station and the entire Brazos Valley! Sarah Miller, Associate RE/MAX BRYAN COLLEGE STATION 3030 University Dr East Ste 100, College Station, TX 77845 License #: 500065

How to Get a Competitive Edge in A Buyer’s Market

When you decide to sell your home, you first need to find out whether it’s a buyer’s market or a seller’s market. A seller’s market is a real estate market in which the demand is higher than the homes available in an area. The seller has their pick of buyers in a seller’s market. On the other hand, a buyer’s market occurs when there are more homes on the market than buyer’s searching for homes in the area, thus giving buyers their pick.

It’s easy to sell your home in a seller’s market, but how do you make your home stand out in a buyer’s market? It’s important, especially if you have a limited time in which to sell, to grab the buyer’s attention and really hook them on your home.

See What The Competition is Doing

Before you list your home, look at what current listings are doing right. Look at the pictures they post on their listings, and the way they stage their home. Did you notice that their appliances seem new? Did they take down personal touches to their home before taking pictures of the interior, and what effect did that have on the home? Look at the competitive prices so you have a reasonable idea of what to expect.

Then think about what your house has that those listings don’t. Do you have a larger yard? Is your home three stories instead of two? Are you within walking distance of a grocery store or popular restaurant? Take out a notebook and write down what stands out to you.

Staging is Everything

We’ve talked before about the importance of staging your home. If you want a competitive edge in the housing market, staging is the best way to do it. Take pictures that show the best aspects of your home for the home listing, but work on the house itself, too, for home tours. Remove personal effects — family photos, pet beds or children’s toys — so that buyers can see themselves in your home. Make sure everything is clean and well-lit and that any updates have been made.

You also need to stage the curb appeal of your home as many buyers have already formed their opinion of the home before they go inside. You may need to get the lawn in shape and throw a fresh coat of paint on the house.

Work With a Real Estate Professional

Expertise is essential when you want to sell your home quickly and effectively. A real estate agent can help to optimize your online listings as well as offer advice for staging your home. They can show you your home’s best assets and have your back to ensure that the best price for your home is negotiated. Real estate agents have a knowledge of the market that the rest of the world doesn’t, as well as with the way it can change. While you might be tempted to do your home sale all on your own, the way to get the best results is definitely with a real estate agent.

In a buyer’s market, you want to play to your home’s strengths as much as possible. Accepting the help of an expert to enhance those qualities is never a bad decision. When looking for a real estate agent, don’t just choose anyone. Find a realtor with years of experience in your community, someone who loves the community and knows it inside out.

Things To Remember When Moving In The Fall

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Moving at any time of the year can be a hassle. It can be even more of a hassle if you move in the fall and you have a family that includes school aged children. Here are some things you will need to remember when you are moving into a new home in Central Texas or even Bryan College Station, Texas.

If you move from one school district to another in the fall you will have the added stress of helping your children get settled into a new school at a time when the other students have just gotten settled. Keep in mind that if you are moving to new school districts in the fall your children will have to catch up to the other students. Make sure that as soon as you move into your new home you create a quiet spot for your children to do their homework. While you are still get settled in your new home you will want to make sure your children have stability, especially when starting a new school.

Also keep in mind that if you are moving in the fall you will want to be unpacked and set up before the busy holiday season begins. This means you need to make your move as organized as possible so that you can properly prepare for the upcoming holidays. Make sure your new home is conducive to holiday visitors and can accommodate holiday meals in your kitchen. 

Featured Homes for Sale College Station, TX

Your RE/MAX realtor bryan-college station, Sarah Miller, can help you discover a lot of great tips for making a profitable and fast sell on your house.  She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest homes for sale in  BryanCollege Station, Call her today at 979-255-1904.

Staging a House - Dos and Don’ts

When staging a house for sale you want to make it a welcoming place for those coming to open house. It should say 'you want to buy me' to any potential new homeowners. Just a few little updates can make a big difference. Your personal style might not appeal to everyone, and neutralizing your home will help it sell faster. If you are not sure what to do you can hire a professional to stage the home for you, but here are a few of the things you should and should not do to get you started.

First, let us look at the dos. You do need to clean, and clean some more. You want your home to be free of dusts, stains, and look tidy so the potential buyer can picture himself or herself there. For the love of real estate, make sure you declutter. If you are hoarding those two hundred horse figurines, you need to hide them. Trust me; they will not sell the house. Take out your personal items so that they can picture their items on the walls and shelves. These are all great ways to make the home more appealing.

Now what you should never do when staging a house. Do not completely remodel or redecorate. You do not need to go out and buy new decor, or do major renovations. Just make the house look its best and leave the major hard work to the new homeowner. Do not burn candles. You might think this is better but if they remember the home with a smell they do not care for it can change their feelings about buying the home. Lastly, do not get hurt feelings that people do not want to buy the house as is; a little staging never hurt anyone.

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Your local RE/Max realtor bryan-college station, Sarah Miller can help you discover a lot great tips for making a profitable and fast sell of your house.

Curb Appeal Tips : Improving Your Front Lawn

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Home of the Aggies of Texas A & M, Bryan College Station is not only a fun place to live, it offers residents great opportunities for work and family activities. With homes selling at a decent rate in this growing area, it is good to know a few tips to make your homes stand out above the rest when showing them to potential buyers. Here’s how you can use curb appeal to make not only a great first impression on your buyers, you can even get the best price possible if they like what they see.

One of the best ways to achieve great curb appeal is through the front lawn. A well manicured lawn speaks volumes about the home and gives a clean look to potential buyers. Make sure that not only is the lawn well taken care of, you also want clean lines between the lawn and any concrete surfaces. This can be taken care of with a good edger and adds the finishing touch to a well manicured surface.

Any shrubs around the home may also need trimmed as to avoid obscuring any view of the windows. Giving shrubs a good trimming gives a clean look to any landscaping already in place and gives potential homeowners a great first impression of the house.

Taking care to make sure any concrete surfaces are power washed is also a great way to give a home decent curb appeal. That oil stain on the driveway often gives potential buyers an impression of work that will need done before they even enter the house and that will turn off many buyers before they even get the chance to see the inside.

Featured Homes for Sale in College Station,Texas

Your  RE/MAX realtor bryan-college station, Sarah Miller, can help you discover a lot of great tips for making a profitable and fast sell on your house.  She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest homes for sale in  BryanCollege Station, Call her today at 979-255-1904.

Finding A Qualified Home Inspector

As you should already know, a home inspection is a key part of the real estate process. Of course, your home inspection is only as good as your home inspector. 

Finding a Qualified Home Inspector

If you are considering buying a property, you absolutely must get a home inspection. What most people don’t realize, however, is it can also be valuable to retain one before you sell a property to identify any problems before your accept an offer. Fixing such problems before hand makes a lot more sense than panicking in the middle of escrow.

Regardless of your particular position in the real estate process, the home inspection is only as good as the inspector. Frankly, some inspectors are less than credible when it comes to qualifications and their background. To bypass these individuals, the following organizations should be used as a resource. 

The American Society of Home Inspectors, Inc. is located in Des Plaines, Illinois. Known as ASHI, it was founded in 1976 to create a resource and quality control atmosphere for home inspections. You can get referrals to ASHI inspectors in your area by contacting the Society at 800-743-ASHI. In doing so, you will avoid hacks calling themselves inspectors. 

The National Association of Certified Home Inspectors is another credible organization. Located in Valley Forge, Pennsylvania, the Association maintains both a code of ethics and strict standards of practice for its members. With over 9,000 members in North America, you can find an inspector in your area by calling 1-877 FIND-INS.

Another organization that stands out in the home inspection industry is the National Association of Home Inspectors, Inc. Located in Minneapolis, Minnesota, the organization also requires members to abide by strict practice standards and a code of ethics, which should be comforting to you. You can contact it to find a home inspector in your area by calling 800-448-3942.

The old cliché is garbage in, garbage out. By using a credible home inspector, you can put this cliché out of your mind.

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

Concrete Homes - Your Fortress in a Natural Disaster

If the area you lived in was subject to earthquakes, insect infestation and wildfires, and you could live in a type of housing that could withstand all those perils, why wouldn't you? Concrete homes have an amazing resistance to all of the above and are commonly used in Florida and other hurricane ridden locations, but their popularity hasn't spread to the west coast. 

Due to their unique construction, a number of homes have survived the wildfires in California. Pat Callahan owns a concrete house outside Escondido that only suffered smoke damage during the October Witch Creek fire. Although the vinyl windows were melted, the house remained standing. 

Another success story was that of Lorraine Aledort and her 5,500 square-foot concrete house near Ramona. The upgrades in her home included:

Concrete roof tiles, glued-down to resist high winds.

Interior fire sprinklers (now a local building requirement).

Oversized wood beams to withstand exposure to heat longer than their smaller counterparts.

An emergency power generator.

A 10,000-gallon water tank to be used in a fire emergency. 

Commercial grade aluminum windows with extra thick tempered glass.

Exterior walls were one foot in thickness including reinforcing steel placed in the concrete forms for protection against earthquake damage. 

After spending 3 1/2 years building their home, Lorraine and her husband had only lived there a few weeks when the wildfires struck. The landscape was blackened, but the house withstood only minor smoke damage. The cost of building compared to a comparable wood home was about twenty percent higher; Lorraine considers this money well spent 

Structural engineer, George Easton describes concrete construction similar to assembling Lego blocks. "The “blocks” are polystyrene forms, called insulated concrete forms, into which the concrete is poured. The forms then are left in place to serve as insulation and the backing for stucco on the exterior or drywall on the interior."

The walls can provide up to an R-50 energy rating and require approximately 44 percent less energy to heat and 32 percent less energy to cool compared to a traditional wood home. 

If concrete houses are so effective against natural disasters, why aren't they widely used? Part of the problem is the lack of knowledge in the building industry regarding concrete construction. Even though concrete construction has national code approval, there are many inspectors with little knowledge of how to inspect the structures. 

Many builders feel that the future of widespread concrete housing requires a dominant player in the building industry to come forward and say "we can do this", and others will follow suit.

·         Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

 

How to Invest in Superior Condominiums

Condo or condominium is a housing option that looks like an apartment complex. Condo ownership lets the owner to own the condo only not the land. Condo owners have to pay monthly fee for maintaining common areas. 

Generally the association of property owners manages condominiums. Owners of condominium can do anything inside the their unit but not the outside. You’ve to clear all related points that what you can do or not inside the condominium at the time of signing the contract. You should check that whether it satisfies your requirements or not. 

Condominium buying is just like purchasing single-family homes. Condominium offers a joint ownership of real estate and partners can use common recreational areas. Condo buying is the cheaper option as compared to real estate market. It offers great living opportunity in United States. It is the great option for the people who travel a lot. Several owners of real property offer condos with kitchens and private bedroom that enables residents of condominium to cook their food. They can save money by cooking their meal own. 

Condo buying offers ownership without maintenance harassment, repairs and security concerns. Condos are usually luxurious and cheap housing options and you can spend your holidays at beautiful locations. Before any type of purchase check parking spaces, bathrooms, fireplace, condos’ area, amenities such as pool, health club etc, area costs, and security arrangement.

Condos’ buying is an important financial investment. Before purchasing unique condominium answer yourself for some general questions like:

Which area of the city is best suitable to your lifestyle?

What type of condo do you want? 

How much you can pay for it?

How do you make purchase of condominium?

You should research for the builders’ reputation on Internet or personally before any type of agreement. Read purchase and sale agreement carefully and check all terms and conditions that will apply on the transaction. Be sure about all details of condo homeowner association that includes costs of monthly maintenance fee. The decision of buying condo should be based on social, legal and financial understanding. You should check whether the property is right for you and your family for a long period. Important documents such as the declaration, operating budget, management agreement and regulatory agreement should be reviewed at the time of buying a condominium. 

Condo buying is not the best option for all. People who don’t want to share certain areas, like pool etc, with other condos owner should go for single home ownership instead of condominium. Sometimes total price of condo is lower than single-unit home. Condos’ residents should be aware of condominium settings. They can share their problems in monthly meeting with the association. It is compulsory to attend meetings and discussions. You should be active in community events while living in condominium. 

You can talk to several professionals online to get all useful information about a particular area. They will provide significant information to make an easy condo buying. You should make your condos buying with complete understanding and awareness.

·         Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

 

Creative Financing - Ten Ways

Do all the creative financing techniques you hear about really work? Yes, actually. They probably have all worked somewhere for someone at least once. The point isn't if they will all work for you. The point is to know what is possible, so you can find your own creative ways to invest in real estate. Here are ten methods to get you thinking.

 1. Hard money lenders. You can ask around or find these online. They specialize in short-term loans at high interest. You typically use this type of financing for a "fix and flip." You can often get the money fast, and if you make $30,000 on a project, who cares if you paid $10,000 interest in six months.

 2. No-doc and low-doc loans. No (or low) documentation of your income or credit required. Again, you can find banks that do these online now. The catch is that you will only be able to borrow up to 80% of the purchase price or property value. If you have 10% in cash, you might be able to borrow the other 10% from a friend or the seller.

 3. Seller-carried second mortgages. Sometimes a bank will loan you 90%, and allow the seller to take back a second mortgage from you for 5%, leaving you needing only 5% for a downpayment.

 4. Land contract. Called "contract for sale" or other names as well, this just means the seller lets you make payments, and delivers the title upon payment in full. I sold a rental this way for $1,000 down, because I wanted the 9% interest, and the higher price I got this way.

 5. Credit cards. If a seller will take $10,000 down on a fixer-upper that you expect to make $20,000 on, why not use credit cards? This is a true 0-down deal for you, and if you turn the project in six months, you will have paid $900 in interest on an 18% credit card. Don't let $900 get in the way of making $20,000.

 6. Retirement accounts. The laws get pretty complex in this area, but you can check with a tax attorney to see how you might borrow from your own retirement account to finance real estate investments.

 7. Friends and family. Keep it all business, if you use this source, but loaning you money at 7% isn't a gift if their money is getting 2% in the bank.

 8. Note buyers. The seller needs cash. He raises the price, and sells to you for $100,000 with no money down, taking back two mortgages from you for $90,000 and $10,000. He arranged (or you did) for a note buyer to pay him $80,000 cash for the first mortgage at closing, getting him the cash he wanted. You pay two payments now, one to each note holder.

 9. Get a loan on other property. Interestingly, if you take out a home equity loan for a vacation, and then forget to use it for that, you can use it for the downpayment on an investment  property, without violating the rules of the bank that gives you the primary mortgage. In other words, you got in with no cash of your own.

 10. Partnerships. For bigger projects, you could arrange for five investors to each put money into a partnership, with your share being the management responsibility instead of cash.

·         Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

Coinciding Settlements Clauses - Funding Issues

People who are selling their home in order to buy another frequently put a "coinciding settlements" clause into their contract offer on the new home. The purpose of this is usually twofold. In this article, we discuss the first purpose which is to use funds from the old home to pay for the new one. 

How Coinciding Settlements Work

A coinciding settlement clause usually says something along the lines of "settlement under this contract is contingent upon the settlement of the contract for the sale of the Purchaser's property located at 1234 Spring Valley Drive..." It typically goes on to state the maximum number of days this settlement can be delayed by delays on the other settlement. It also usually says what will happen if the other contract becomes void. (Usually "this" contracts becomes void, too, but that doesn't have to be the case if there's another source of funds.)

The settlements don't literally happen at the same time as the name implies. They can be back-to-back in the same office. They can be a day (or even days) apart in offices in different states. Very often it's necessary for the settlement agent for the first settlement to wire transfer funds directly to the banking account of the settlement agent for the second settlement. This is usually a smooth, seamless procedure. 

A Word to the Wise Seller

Coinciding settlements usually work well for the purpose of providing funds as outlined above. The one problem that crops up from time to time occurs when the first sale falls apart for some reason. The most frequent reason the first sale falls apart (when it does) is that the buyer is unable to get his loan. Because of this, some sellers insist that coinciding settlement clauses include language giving them permission to check with the lender for the first buyer. Making sure the first buyer is qualified for the necessary loan is good business. Don't feel awkward about it. 

Coinciding settlement is a common fact in the current real estate market. Use the above technique to avoid problems with your real estate transactions.

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

Making An Offer On Real Estate In A Recession

What should you look for when you are making an offer on a piece of real estate during a recession?  You naturally want to get the best deal possible, so you should be careful about doing your homework before you are ready to make an offer.  Here are some tips that can help you make a good offer during a real estate recession:

Discount anything the real estate agent tells you about the price.

Real estate agents are paid on commission.  It is not in their best interest to see you “get a deal” on a piece of property.  It is in your best interest, though.  Do your homework and take a look at the amount that other homes in the area have sold for, not for the amount that they are listed, but for how much they sold.  This is all public record.  Take a trip down to the county recorders office and you will find the information on any homes that have been sold in your area. 

Offer At Least 20 Percent Less Than The Listed Price

The rule of thumb used to be to offer 10 percent less than the listed price.  This was considered a low offer.  With the economy today, the rule of thumb is 20 percent less.  There are so many homes on the market today that you really have quite a choice when it comes to where you want to buy and how much you want to spend. 

Take A Look At How Long The Home Has Been On The Market

Be sure to look at how long the home has been listed.  Homes that are fresh on the market should be looked at as they are sometimes listed a lot lower than they should be by either an inexperienced or greedy real estate agent.  If the home has been on the market for less than a month, chances are that the owner has delusions of grandeur and refuses to believe that there is a recession.  You can offer less, but chances are that they are going to want to get other offers.

If the home has been on the market for a year or more, there is either something really wrong with the house or they are not budging on their price.  This is a good one to skip.  There have been houses that have remained on the market for several years, vacant. 

Be Pre Approved And Have Nothing To Sell

Although a seller will probably take any type of contract in this market, you are a lot more attractive as a buyer if you have nothing to sell and have been pre approved for the mortgage.  A pre approval letter is different than being pre qualified.  Someone who has been pre qualified has not gone through the gamut of giving in all the paperwork needed for the loan.  A pre approval letter means that you have gone through the entire mortgage approval process and are ready to close.

Follow these tips before you make any offer on real estate in the market today.  You can invest in real estate during a recession - you just have to understand how to go about making the right offer. 

·         Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

 

Recession Real Estate Investing - The Short Sale

If you have been following the residential real estate market, you have probably already ascertained that the market has crashed.  Not  only crashed, but crashed and burned.  This is unfortunate for a lot of homeowners who can no longer afford to live in their homes.  Many are in the process of foreclosure because they cannot make the mortgage payments any longer. 

You can actually kill two birds with one stone by investing in these properties.  A home that is in foreclosure but not yet owned by the bank is called a short sale.  You can usually pick a home up like this for a fraction of the cost.  The owner, in most cases, just wants to be able to pay off the bank so that they do not have a foreclosure on their credit record.  A foreclosure can be devastating to credit and most people want to avoid this calamity. 

Finding short sale properties is not difficult in this economy.  You can either work with a real estate agent or you can do your own homework.  Foreclosures are a long process and is something that has to go through the court system.  A bank cannot just foreclose on an individual without getting a court order that gives them the title of the property.  Anything that goes through the court system is public record.  You can go up to your local county courthouse and find a list of properties that are in the process of foreclosure simply by looking on the court roll call.

Once you find a home in the process of foreclosure, you can then contact the owners and offer to buy the home.  You can find out how much the original mortgage was for the property through the county recorders office.  The mortgage and note are all recorded against the property.  This is a matter of public record.  If you have some knowledge of the real estate market as well and the current value of the properties in the area in which you are looking, you can find a real bargain.

You can find a home, for example, that is worth about $200,000 in which the owner is behind on a mortgage that is about $120,000.  You can offer to purchase the home for $130,000 and give the owner $10,000 in their pocket.  You can also offer to allow the original owner to stay in the house and rent it from you.  You will restructure the mortgage and make sure that you get a low rate.  You then have a home that is worth $200,000 for which you only owe a small portion and a renter who will, essentially, pay your mortgage. 

If the original owner buys the home back from you, they will have to do so under your terms.  You can then ask for the $200,000 when the market rebounds.  You have just made $70,000 profit in a few years, a much better yield than you can ever make in any other market investment. 

This may seem predatory, but you are really helping the original owner out.  If they are about to be evicted because they cannot pay their mortgage, you at the very least, buying them time and giving them a chance to get back on their feet.  If they cannot pay the rent to you, they will at least have had a bit more time to plan their move.  If they manage to buy the home back from you, it is a win win situation for everyone.

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

 

Tips On Making Money In Real Estate Today

If you are looking to get rich quick in the real estate market today, you are headed for disappointment.  The real estate market took a nosedive last year and has reached rock bottom.  Residential foreclosures are at an all time high and continue to grow. 

This does not mean that real estate investing is a poor idea.  To the contrary, now is the perfect time to invest in real estate.  Although the market is bad for sellers, it is excellent for buyers.  On top of that, the mortgage interest rates are lower than ever.  It is hard to imagine a better time than now to invest in real estate. 

Some tips on investing in real estate in the market today and how to make money are as follows:

Look for the long term investment.  Be prepared to hold onto the property for a few years until the market rebounds.

Look into renting property.  People always need a place to live.  You can rent your property to those who need a home and make money when you sell after the market regains its strength. 

Think about investing in commercial real estate.  Although residential markets are bad, the commercial market has remained stable.  You can invest in property such as strip malls and office buildings and still make money. 

Consider investing in vacant land.  Look for property in areas that are undeveloped.  You may find in a 10 years that your property is worth 10 times more than what it is today.  Think of the people who owned farmland in Orlando.  The property is now worth thousands of times more than original asking price.

Do not panic. This should be rule number one.  If you own a home, do not panic and sell.  This is how you lose money in real estate.  Hold onto your property and ride out the storm.  The market always rebounds. 

Consider new construction.  If you are able to act as a general contractor and build a home, there is money to be made.  New construction is always desired by most people as they like to be the first to live in a home.  If you are in the trades, consider building your own home.

Buy foreclosures.  Look at foreclosures that are on the market and that are owned by banks and mortgage lenders.  Put in a bid and do not be afraid to bid low.  There are thousands of foreclosures across the market, even in upscale neighborhoods.  This is where you can make some serious money if you buy low, hold onto the property for a while, and sell high.

Buying low and selling high is how you make a profit in any business and is no different in the real estate market.  The current market, however, does not make it possible to sell high.  There are more homes on the market than there are buyers.  Many of the buyers that are out there are foreign investors who can spot the opportunity of purchasing property in the United States at bargain basement rates.  Although this is not the market to sell high, it is definitely the market to buy low. 

 

5 Useful Tips In Buying A House

Buying a house is a very serious matter that comes in to people’s lives. It is very risky to invest your money in buying just any house you find. You must have some guidelines that can help you decide which house is the best for you. Here are some: 

1.         Determine your rights 

When you are ready to buy your own house, be sure you understand your rights as a homebuyer. Knowing the process of buying a house prevents you from getting scammed. You can personally do your home work or seek for a knowledgeable person like a real estate agent or a broker. Make sure that the agent you hire is licensed and have a wide knowledge regarding the area. 

2.         Make sure you can afford it 

Your budget is really a big deal in buying your own house. What you want is different from what you need, so be practical. You don’t really need a big house if you’re just one person that travels everyday, right? Make sure that you make the best for your money. Seek help or ask for suggestions especially for those who have knowledge in real estate prices. If you can’t stay for at least a year, buying a house is inappropriate for you. You may save a whole lot more of money if you sell it urgently. 

3.         Make sure it fits your lifestyle 

Make your house a home. Be sure it really fits your way of life and you are comfortable with it. A good example of this is if you’re working in an office, a good place to find is near or in the vicinity of your office. If you love nature, a good place to find is outside the city with clean air, near parks, has a mountain view or near at the beach. Your personality really matters in finding a good house. Make sure to look at its suburbs first and try to gather some information about the area and its surroundings. Try also to consider the kind of neighbors you will have. 

4.         Consider your future plan 

If you’re newly married, you might to consider how many kids you want to have. You can assume the number of rooms or the home space you need. If you can afford a house that is near to a good school, it is better. School districts are more important to home buyers, therefore, it will increase your property values. 

5.         Be organized 

It is very important to make your document files organized and safe. Because it will prove that you own the house. It will help you a lot especially when it comes in paying your house payments (taxes and amortization).

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

5 Major Reasons Why You Should Buy A Home Instead Of Rent

There are times when it is better for a person to rent, but most often home ownership has many more benefits and advantages.  

About 10 years ago I had a retired aunt and uncle who rented a condo in Las Vegas. Uncle Jim (not his real name) was a retired minister. Throughout his career he and his wife lived in parsonages, which are homes furnished by the congregation while they ministered there.  

He and his wife told me that the biggest mistake they ever made was not to invest in buying a home.  In their retirement years, when their other retired friends were living in homes that were almost paid off and had appreciated greatly, Uncle Jim and his wife were using a huge portion of their limited retirement money to make expensive condo rent payments. They strongly cautioned me not to make the same mistake they had. 

Recent studies are showing that there are many benefits for both the owners and the community for owning your own home, including increased education for children, lower teen-age pregnancy rate and a higher lifetime annual income for children. Besides these, listed below are some of the primary advantages for owning your own house. 

1) More Stable Housing Costs

Rent payments can be unpredictable and typically rise each year, but most mortgage payments remain unchanged for the entire loan period. If the taxes go up, the increase is usually gradual. This stable housing cost especially important in times of inflation, when renters lose money and owners make money. 

2) Tax Savings

Homeowners can be eligible for significant tax savings because you can deduct mortgage interest and property taxes from your federal income tax, as well as many states' income taxes. This can be a considerable amount of money at first, because the first few years of mortgage payments are made up mostly of interest and taxes. 

3) Debt Consolidation

If you need to, you can refinance a mortgage loan to consolidate other debts (an opportunity you don't have if you are renting.) And the interest on this is also tax deductable. 

4) Equity

Instead of payments disappearing into someone else’s pocket, home owners are building equity in their own home. This is often one of a person's biggest investment assets.  Each year that you own the home you pay more toward the principal, which is money you will get back when the home sells. It is like having a scheduled savings account that grows faster the longer you have it. If the property appreciates, and generally it does, it is like money in your pocket. And you are the one who gets to take advantage of that, not the landlord. You can then use this equity to plan for future goals like your child's education or your retirement. 

5) It is yours!

When you own a home you are in control. You the freedom to decorate it and landscape it any way you wish. You can have a pet or two. No one can pop in and inspect your home and threaten to evict you. 

Even young people, like college students out on their own, can often benefit from home ownership. It puts them ahead of other young people their age financially by helping with their credit and giving them what is often an excellent investment. Often a college student buying a home will rent the rooms out, and his or her roommates end up making the payments for the house. When the student is ready to move on, her or she can sell the home (hopefully making a profit) or keep it as an investment and continue to rent it. 

Buying a home is an important decision. It is often the largest purchase a person makes in his or her life. Home ownership also comes with some increased responsibilities, and isn't for everyone. There are some disadvantages to homeownership that you should take into account. 

1) Increased Expenses

Your monthly expenses may increase, depending on your situation. Even if the monthly payments are the same, home owners still have to pay property taxes, all the utilities, and all the maintenance and upkeep costs for the home.  Often you need to supply appliances that were furnished with a rental. 

2) Decreased Freedom of Mobility

Homeowners can't move as easily as a renter who just has to give notice to the landlord. Selling a house can be a complex and time consuming process.  

3) Risk of Depreciation

In some areas with overinflated prices, there may be a risk that the house will depreciate instead of increase in value, if the prices go down. If you then sell the house, you may not get enough money from the home to pay back your mortgage, and you will still owe the mortgage company money. 

4) Possibility of Foreclosure

If for some reason you are unable to make your payments, you risk having the lender foreclose on your property. This can result in the loss of your home, any equity you have earned, and the loss of your good credit rating. 

When considering home ownership, you need to weight the advantages and disadvantages for yourself.  If you are like most people, you will find that homeownership is worth the risks and disadvantages.

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

 

 

Budget For Closing Costs – Loan Origination Fees And PMI

Once you reach an agreement on the purchase of a home, things start moving quickly. In the chaos, it is important to remember to budget for closing costs. 

Budget for Closing Costs – Loan Origination Fees and PMI

Closing costs are fees associated with miscellaneous events associated with a home purchase, things such as property inspections. Even if you are purchasing a home for the first time, you are probably aware there are closing costs that have to be paid. Rarely, however, are you aware of just home much and how fast the can accumulate. If you have not budgeted for them, they can put a kink in the closing or even cause you to lose the home. 

A couple of closing costs to keep in mind are origination fees for home loans and private mortgage insurance. The mortgage related costs are only a small part of the overall closing costs you can face, but deserve a closer look.

Origination fees for home loans can be a shock to first time buyers. Few realize they are going to have to pay such things. Origination fees are costs charged by a lender for services used to determine if the lender should give you a loan in the first place. For example, a lender will charge you fees for obtaining a copy of your credit report, having an appraisal done for the property. Infuriatingly, the lender will also charge you fees for processing the loan and preparing the loan documents. You may also have to pay points, which represent a percentage of the total loan, often one or two percent. On a $300,000 loan, the origination fees can quickly add up to thousands of dollars. 

Private mortgage insurance, often called PMI, can also be a nasty little surprise. The magic number when considering PMI is 20 percent. If you make a down payment on the home that is less than this amount, you are almost certainly going to have to pay PMI. PMI is simply insurance that protects the lender should you default on the loan. The cost can add up to hundreds of dollars, so make sure you know what is expected of you. 

Closing costs are aggravating, particularly when you feel like you are being nickel and dimed to death. Budget for them up front, and you will feel less aggravation.

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

 

 

 

 

 

Budget For Closing Costs – Home Inspection And Title Fees

Purchasing a home is a euphoric event. Once escrow begins, the euphoria can change to frustration, particularly if you are not ready for the closing costs that quickly accumulate. 

Budget for Closing Costs – Home Inspection and Title Fees

Closing costs simply refer to the fees associated with various things associated with the escrow process in a real estate transaction. In the excitement of having an offer accepted for your dream home, you can easily lose track of the fact you are going to need to have some serious cash on hand to pay them. Many people make the mistake of only assuming they need the down payment money, and have to rush around town trying to come up with money for the closing fees. 

If you are buying a home, you need to get a professional home inspection. Doing so can reveal potential problems with the home that you wouldn’t otherwise notice. Problems can include things such as rot, termites, water leaks and a bevy of other issues. The time to do this is during escrow. Of course, that means you are also going to have to pay for the inspection. Depending on the size of the property, home inspections can run a few hundred dollars up to a few thousand. Make sure you have money set aside for the fees. 

Title insurance is something you absolutely must purchase when you buy any real property, a home, building, land or whatever. Title insurance protects both you and your lender. Title insurance is just what it sounds like. A title company will research the title of the home and essentially guarantee that the title is good. This means the seller actually owns the title and has the right to sell it to you. The title company will also make sure there aren’t any liens on the homes or other things that will cause you problems. Depending on the price of the home, title insurance can run you a couple of hundred dollars or up into the thousands. Again, it is important to find out the cost and budget for it.

Title insurance and a home inspection are two things you should absolutely have when purchasing a home. Just make sure you budget for them.

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

 

 

 

 

Being Comfortable With Your Home Purchase

Let's get down to brass tacks with the home buying process. You as a buyer are spending a lot of money and have the right to be comfortable and happy with your purchase right? Of course you do. So essentially the question is what needs to be done in order to ensure that this is so? Well, probably the most important things is communication. It's a good idea to remember that your realtor is there for more than simply helping with some contracts. Your realtor is your info source of information on anything that you might not know or be familiar with. The more you communicate with your realtor the smoother this process will be. 

Another way to ensure that you are completely happy with the home that you have bought is to never settle for anything less than what you need. This happens a lot when buyers are too eager to purchase quickly and in that quickness, things get overlooked. Remember that this is going to be your home, take the time to learn everything you can about the home in question. Does it have enough room for you and your family? Is there some extra room in case your family grows? Forward planning is an essential part of buying a home, and should never be overlooked. 

When everything is said and done you should be left feeling like you have made the most intelligent purchase of your life. You should also have a financial arrangement that fits your lifestyle and payment abilities. In order to make this happen you need to be in complete control of your financial life, you should have your credit completely sorted out and dealt with so that there are no bridges that have to be crossed in order to secure the necessary funds for the purchase. Follow the advice of your realtor and the process should be a lot more fun than it is stressful.

Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.

 

Before You Buy Your Apartment Complex…

Purchasing an apartment complex as an investment is a fantastic way to watch an asset single handedly generate thousands, even hundreds of thousands of dollars in a very short amount of time!

A popular investment strategy, especially for new investors, is to purchase a more run down, mismanaged apartment complex at high cap rates. The cap rate, or capitalization rate, is found by dividing the Net Operating Income by the Purchase Price. Properties that are low performing often sell their apartments at a higher cap rate because there is more of a risk associated with them.

These properties are in need of many changes in order to become a commercial property that is working at its maximum potential.

Before you purchase a large commercial apartment complex, you need to get certain information. This information is crucial to your assessment and evaluation of the property.

There are two states you need to understand regarding the property, the state it is in currently, and the state it will be in after you fix all the major problems.

When you first find or are introduced to a property, be sure to ask for the income and expense statements. A lot can be told from analyzing the numbers that are reported on a monthy, quarterly or yearly basis. You can even use them to see how the property has performed over time. You will be able to see gross rents, expenses, net operating income, and all the items in which income and expense fall under such as refrigerator rentals and pool maintenance, respectively. Use this tool as a way to project future income after raising rents, filling the vacancies, transferring all costs to the tenants, and making the community an overall enjoyable place to live.

You must know how many units are in the complex, and what condition they are in. You can see what condition they are in by checking a certain percentage of the total units and assume that most are in that condition. However, it is always better to check all the units so you know exactly what condition the apartments are in. This could be a basis for lowering the asking price if the units are in far worse condition than you originally thought.

The vacancy factor is an important one. When a property has many vacancies, like 20% and above, it is not performing well. If you can fill these vacancies, then your ability to turn the property around is much greater! You must view all working leases, and ask the current tenants to sign a paper to verify the leases that you were given by the owner or working manager. You would be surprised how many owners may try to decrease their vacancy factor by false leases, just to make their property more enticing. However, if you are fixing the property up, then the larger the vacancy, the more opportunity you have to increase value and find a profit!

In order to evaluate this property, you must divide the asking price by the number of units and see what the price is per unit. You can use this to compare other similar complexes in the area. You also want to know what they are charging as rent, and what type of leases the tenants have. If the rents are below market rents, then you have the ability to increase value there. If your tenants have a full service, or net-net lease, then you have an opportunity to change it to a triple net lease, where the tenants pay taxes, insurance and utilities. You can literally pass all the costs of running the apartment to the tenants. After all, they are the ones using the facilities. 

I am sure you can see the themes here. You want to identify areas where you can either increase or create value that was not there before. Be sure to get all the facts and numbers verified before you purchase your great investment. Be prepared to do some work to turn the place around. However, it will definitely pay off shortly when you use some simple tool, like increasing the rent and painting the exterior, making it a community where people want to live!

 Sarah Miller offers real estate services in Bryan-College Station Real Estate. She is one of the RE/MAX Bryan-College Station realtors that has a long list of the finest real properties bryan tx, that any intending settler or buyer can choose from.