Fall Festivities

The spooky time of the year is here....and what do you do with your kids?

Actually, quite a lot of stuff is going on in New Braunfels for kids of all ages.  Many churches have "Fall Festivals" either during the week and on the 31st.  Many of them are posted on the lawns of the church or you can check websites.

A few of the happenings include:

HALLOWEEN SPOOKTACULAR  - Downtown New Braunfels, October 29th from 3:30 - 6:30

TRUNK OR TREAT - IBEX Global, 1672 Independence Dr, Ste 200, October 30th, 5-7:30 p.m.

THE AUGUSTA AT GRUENE - October 31st, 6-8 p.m.

MARKET PLACE - October 31st, 4-6 pm

FALL FESTIVAL - Oakwood Baptist Church, October 31st, 4-6 p.m.

HALLOWEEN LUNAR BOWLING - Fiesta Lanes (This one costs $ and requires reservations, but sounds like A LOT of fun!!)

This list is just the beginning, so don't get scared by the thought of finding something to do!

Be safe and enjoy watching all the kids, of all ages, have a SPOOKTACULAR time!

Selling your home in the Fall/Winter

You've heard it before, "The best time to sell your home in in the summer."  But is it?  It all depends.
As a mom of three young children, the thought of putting my house on the market gives me heart palpitations.  My home has to be show ready, ALL THE TIME?  Impossible!!  And if you want to put your home on the market in the summer when they are home more, I think that you are adding to your stress.

So, let's take part of this out of the equation and put your home on the market in the fall/winter and the kids are in school.  Might be a little easier to keep you home clean and ready to show.

"But school has started and I don't want to move schools."  Sometimes this is avoidable, sometimes not.  Face it, if you have thought about selling your home, you have thought about where you would move and you know whether or not that subdivision is in your current school attendance zone. Also, changing schools isn't the end of the world. Children do it all the time and they are fine.  LET IT GO!

Packing is packing and it doesn't matter what season, you will have to do it.

In the fall/winter, you might not get as many showings, but the people that do come by are motivated buyers and aren't "tire kickers" who just want to look around and see what is out there.  Many people that are looking at this time of the year are getting relocated by the military or a company.

Let's say you aren't ready to sell right now, but you can start thinking about it now and maybe get some of those home projects done.  Painters, roofers, landscapers are slower in the fall/winter and you might get a discount on your services.

Deciding when to put your home on the market is a big deal.  Think it through, write out the pros and cons and by all means, talk to a professional realtor.

Blessing my people.

Top 5 reasons your Mortgage is Denied

Pre-approval is an important step in the home buying process.  I've discussed that in previous blog posts and will continue to remind you of it because it is such an important part of the process.

However, there are times that you are pre-approved and then when the time comes to close, your mortgage is denied!

Let's be pro-active and do what we can to help limit this from possibly happening.

Change of Employment

If you are wanting to move into that new home in a timely fashion, please, please, please, keep your current job until AFTER closing!

Many financial institutions will require 2 years of employment history.  If you change jobs, this alters the two years.  Sometimes if the job is in the same field, it won't be an issue, but you will need to check with the bank you are working with for your loan.

Credit Scores

Oh, the dreaded credit score that you worked so hard on for the last 6 months - 2 years!  Just because you were pre-approved, doesn't mean to all of a sudden to quit paying that credit card on time. This is especially true if your credit is barely in the "good" rating.

The financial institution will run your credit right before closing and if you slow paid or didn't pay and it is reported, this could drop you back into the "poor" ratings and the bank can deny your loan.

Additional Debts

Again, you've worked so hard to get this score high and "good!"  Don't be a knuckle head and go out and buy new furniture for your home or a new car to celebrate your new home.  You might have squeaked by with the debt/income ratio and you just shot it out of the water with that new sofa!

People have shown up to their closing in a NEW car and the loan was DENIED!!  Stay low on the radar, buy new stuff AFTER you close.

Lender Requirements

The lender can and does change the rules in the middle of the game and there isn't a thing you can do about it!

Maybe they changed their minimum credit score requirement or the debt/income ratio.  Remember the two reasons above...well that just sunk your home buying boat!  Don't be dumb (DBD), stay on the ball and take care of your stuff!!

Sometimes you might be grandfathered in, but there isn't a guarantee of this.  Stay SMART.

Appraisal Issues

This one is virtually out of your control.....virtually, but not fully.  If you are selling a FSBO, yes, it all falls on you.  However, if you used a licensed realtor, part of his/her job is to ensure to price your home accordingly.

However, if you are going FHA or VA, there might be specifics that you aren't aware of....again, be informed and work closely with your realtor.

For more information about mortgages being denied, please visit: http://www.rochesterrealestateblog.com/top-5-reasons-a-mortgage-is-denied-after-pre-approval/

Be blessed my peeps! 

Vote Early & Vote Often...

....just kidding.  Just vote once, but JUST DO IT!  As my step-dad says, "If you don't vote, then don't complain." There is a lot of logic to this statement.

So what are we voting on anyway? Prop 1 is a BIG deal.  Some of those folks in Austin would like for there to be a transfer tax when a property is sold.  So this would be an additional tax, on top of your property taxes.  Prop 1 will add an amendment that will ban this from happening.

Additionally, it will double the homestead exemption to $25,000.  This is good for everyone.

Lastly, it reduces taxes on seniors and disabled Texans. Who can't agree that is a good thing?

If you'd like more information, visit www.texansfor prop1.com.

If you live in a school district, they might be having a bond to vote on this go round.  Vote YES!  Here's the deal, the district doesn't come to you lightly, willy-nilly and ask for money.  Visit your local schools, talk to teachers...do they have the supplies they need?  do they have plenty of room in their schools?  are there portables in the back?

I will go out on a limb (as an educator of 20 years) and say, no they don't have all the supplies they need, they are very over-crowded and if there aren't already portables, there is talk of them!

What many people don't understand is how school finance works...and I admit that I don't know the ins and outs.  But there are a few things I do know.  One I hear often: "Why don't they use all the money from the football games for stuff?"  Why?  Because that money is in a different fund and you can't just move over money from one fund to another. That might be how you do your finances, but schools can't.  At bond time, schools need to do a little more educating of the public and explain some of these things.

I don't know any district that isn't growing and doesn't need lots of stuff.  I also don't know a teacher that doesn't spend his/her own personal monies to pay for things for his/her classroom.  Even small things like paper towels (not the nasty brown ones in the bathrooms), tissue and hand sanitizer are always at a premium and that doesn't include the "fun" stuff for projects and activities.

So, instead of automatically saying no to the bond, do some research and find out what is needed.  It takes 2-3 years to build a new campus, so districts seem to be behind the ball when it comes to new facilities.  Why?  Because they can't just go out and purchase land and facilities like you and I can do when we want a new home. It takes time and it is a process.

Ask, ask, ask....if you have questions about what is going on in your school district, send an email, make a call. I know someone will be more than happy to answer your questions.

And remember: GO VOTE!!

Blessings my friends.

FSBO

FSBO (fizz-bo) aka For Sale By Owner

"I don't need an agent."
"They don't do anything."
"How much do you want?"
"What are they going to do that I can't do?"

When thinking about selling your home, you do have a lot to ponder and consider and make some big decisions.

Decision #1: Do I sell?
Decision #2: When?
Decision #3: What agent will I use?

However, I'm going to turn that model upside down and suggest that you start with #3 FIRST and then answer the other two questions and any other questions you might come up with through out the process.

You MUST find an agent that is licensed in The Great State of Texas!

You want someone who is current on their knowledge of the market.  I don't recommend using someone that does real estate part time.  Do you want a doctor that only dabbles in medicine?

You want someone you feel comfortable with and who you trust.  Many people choose a realtor based on a recommendation or referral and that is awesome!  But who is the person that is referring them to you?  Are you choosing them because they play bridge with your grandmother?  that's who our family always uses?  While these are valid reasons, they might not be the best for you and your situation.

Interview a few people or even a lot.  Selling your home is a BIG decision and you don't want to jump into it too quickly.

Let's answer some of those questions:

"I don't need an agent." While this can be true, there are more reasons to HAVE an agent than to not have one....keep reading for more details.

"They don't do anything." In any field, you will have slackers.  But I am here to tell you that if an agent isn't doing "anything" they aren't making any money. If they aren't making any money, they won't be in the business very long.  Lastly, if you don't feel they aren't doing anything, you can fire them and get another agent that does work for you!

"How much do you want?!" Oh the dreaded money.  99.9% of agents are in real estate as their profession, so they are in it to make money. So, they should get paid for the work they do.  In a very short list, they do the following:
1. do a market analysis to list your house at the right price
2. is honest with you about the condition of your home (what will someone's first impression be?)
3. market, market, market (by the way, when interviewing agents, ask how they will market your home).
4. negotiates offers to help ensure you are getting the highest offers out there
5. negotiate the inspection results
6. speeds up time to close by making sure all those little things are done (inspections, warranties, monies, paperwork and paperwork and paperwork)

And this list is not all-inclusive.  There are things going on all the time that a good agent is doing for the seller.

"What are they going to do that I can't do?" If you, the seller, is a licensed agent, probably not anything. However, if you aren't a licensed real estate agent, do you know all the forms needed to sell a home?  Do you have training on marketing a home?  Do you have training on market analysis? Do you know the responsibilities of a seller at closing?

That's why you need a licensed agent!  We are here for YOU!

Blessings my friends!

Renting vs Buying

To rent or to buy....that is the question (you must say this in a very Shakespearean voice!)

There are times when renting is best and not.  What are your future plans?  As I've stated in previous posts, talking to a financial person is always in your favor so that you know what your future brings (ie: the purchase of a new home!).

Here in Central Texas, specifically New Braunfels, the rental market is a fierce and furious one!  People line up for homes because there aren't a lot of decent rentals available.  (Look for future posts regarding investment properties.)

Renting can be crazy because you are essentially paying someone else's mortgage.  So, why not pay your own mortgage and reap the tax benefits that go along with it?

Now, don't get me wrong, as a home owner, there are times when I wish I could call the management office and someone will come fix the A/C or change the light bulbs and I'm not out any money.  But, can I paint what I want, hang what I want and build equity for future purchase?

Rentals can be a challenge because you don't know how well the owner has taken care of the property. If you are in a dwelling that shares walls with others, those "others" can be difficult, if not unbearable (and you are locked into a lease)! Then don't forget the deposits and how hard you work to get most of it back when you move.

The moral of this story is that after you have talked to a financial person, so that you have a plan of action, decide if renting or buying is your best bet.

And ALWAYS use a licensed real estate agent.

Blessings my friends!

Looking for new home construction?

So many builders to choose from, how do you begin the process?

I recommend visiting Builders Update.  This is a great tool for you to pick your area and it will show you new construction in the area.  You can save and/or share your searches.  This is a great tool for anyone looking for a new home or to build.

This post is short and sweet, but the hope is you go forth and look for that new home to build!

Be blessed my friends!

5 common buyer's remorse features

Buying a new home is exciting!  It can be stressful, but when you get down to the nuts and bolts, it is very exciting because it is a new chapter in your life.

When some people buy a new home, it took them months to find it.  Others found their dream within weeks of starting their search.  Either way, don't fall into some of these common buyer's remorse features.

You went TOO BIG: you are currently cramped, closets too full and tripping over one another.  But, do you really need a 5,000 sq. foot home?  Probably not.  Take a moment to take out the emotion of your current home situation and some of your frustrations and assess how much room you really need.

Awkward Layout: the house has so many good features, but it is practical?  We looked at a home that had a TON of rooms, but looking back on it, it felt more like a maze because there wasn't flow to the layout of the home.  Maybe the kitchen has an island.  Step back and imagine yourself cooking dinner....will that island still be an asset or just in the way?

What's missing?: Prior to beginning your home search, think about what you love about your current home and what you wish you had (remember, this isn't a "money isn't an issue" purchase!  This also isn't a home on Pinterest!) I've seen beautiful homes, but there aren't any cabinets in the bathrooms, where is the linen closet?, does it have plugs throughout the house?  My current home is lovely, but you exit the master bedroom and you won't find a plug until you get to the kitchen or dining room....but I want one in the small hall and surely one other than the washer/dryer plugs in the laundry room!

Pool: Make a big splash with a pool IF you like to swim and realize they can be drain on time and money.  Personally, I don't completely agree with this fact because we've had a pool for almost 7 years and we love it and we maintain it well and we don't spend extra-ordinary amounts of money on it...but that is because we maintain it (see the trend here?).  If you aren't wanting to maintain it, or spend the money on a pool company, skip the pool and buy in a community with a pool.

Fads & Trends: “Today’s popular ice-white appliances, steel countertops, and Edison bulb light fixtures are yesterday’s saloon doors, linoleum, and brass hardware,” realtor.com® notes.  Realize that some things are trendy and unless you are planning on living in this home forever, then you might have to change it when it comes time to sell.  

Be smart and take your time.  Buying a home will often be the largest financial decision you make; therefore, you want to be smart about all of the steps.

Be well my friends....until we meet next time.  


Source: “Skip the Pain: 7 Things That Will Fill You With Buyer’s Remorse,” realtor.com® (Oct. 12, 2015)

First Steps

"Did you hear that Sally and Roger bought a new home?"

Just that question gets our new home envy going and we start looking online, driving around and maybe even go into a new home and start imagining your furniture, kids and pets there.....but, STOP!

First, you need to  know what your budget is and often times you aren't fully aware of all the details.  You need to talk to a reputable financial person who can pull your credit and tell you the good, the bad and maybe (maybe not) the ugly.

Finding a financial person is easy...ask me and I can send you to one that is good, reliable and confidential.

The application is easy....usually online and will take 5-10 minutes to fill out.

The application is FREE.....that is always a good thing!

The application will NOT hurt your credit report.  If you are continually applying for credit cards, loans and such, then yes, that will hurt you because creditors think you are looking to spend, spend, spend.  However, having a financial person do it for the sake of down the road, buying a home, it is an OK and VERY good thing to do.

I have clients that want to wait for 6 months prior to purchasing a home to begin this process.  A year out is NOT too soon! If you have minor credit issues, 6 months or more of good payment history can do very positive things for your credit.

So remember, prior to EVER looking, see what your budget is so that you can set appropriate goals and look at homes that are in your price point.

Be blessed and don't hesitate to contact me with questions.