The start of 2012 has many investors looking for bargain properties, sometimes in bunches. The ways of funding the purchases also have become more creative as buyers rethink the role of real estate not only for their portfolios but also for their residences.
Spring is the busiest time of the year for selling a home. The trees are budding, the grass is green, the songbirds return, and homebuyers feel the urge to begin their home-buying search.
Negotiations were tense when I bought a used backyard play house for my two-year-old. The seller wanted $60. I countered with $50. We consulted our attorneys, faxed amended offers back and forth include the plastic fireplace logs or no deal but finally settled on $52.75.
Two years ago, the National Association of REALTORS (NAR), one of the largest professional membership associations in the world with more than a million members, floated its idea of a housing solution to attendees at its annual convention.
On New Year's Eve, many bid farewell to the old year by singing "Auld Lang Syne" lyrics that include, "Should old acquaintance be forgot and never brought to mind."
As of Dec. 1, 2011, consumers can file complaints against mortgage companies with the federal Consumer Financial Protection Bureau (CFPB) through the agency's home page.
I think I lost some money. How? My wife and I probably would have qualified for assistance when we bought our first home. I'm not positive about that since we didn't even explore the idea.
An old friend of mine who owns and operates a small development company showed up in town for a weekend event. We blocked out some time to revisit the old days and what's in store next. Like me, his four children had grown and gone.
The national media still reports on the collapse of the housing market and the downturn in the economy. While I agree unemployment is still too high and housing is not appreciating the way it did from 2000 to 2006, I believe opportunity's knocking. Now is the time to buy a home.
If I told you a house had been on the market for the average amount of time for its neighborhood, would that affect your decision to make an offer? How about if I told you that it had been on the market for 13 months?
Unfortunately, the drought in Texas continues and, according to most reports I read, it's not likely to let up for another year. For me, that means it's time to scale back on our lawn watering.
Texas homes continued to hold their value as sales jumped up sharply in the third quarter of 2011, according to the new Texas Quarterly Housing Report released by the Texas Association of REALTORS.
If there's a lesson from this terrible drought, it's that nothing is more important to Texas than a clean, reliable water supply. And on Nov. 8, you'll have the chance to protect it.
A recent bill introduced in the Senate would offer visas to foreigners who make a cash investment of at least $500,000 in residential real estate. Foreign investors could spend at least $500,000 on one residence or spend at least $250,000 on a residence and invest the remaining $250,000 in other residential property, such as rental property.
In our first year as homeowners, I was excited about Halloween. Trick-or-treaters don't frequent many second-floor apartments, so for the first time, I would get to open my own door to a front porch full of giggling witches, ghosts, and princesses. Sadly, I was in for a lesson.
Like cowboys, oil derricks and football, droughts are native to Texas. Now an extraordinary drought has gripped our state, capturing national headlines as it decimates crops, kills trees and cracks home foundations.
I support Proposition 2 because I think the availability of a clean, reliable water source is one of the biggest long-term priorities facing this state ... on par with education and healthcare.
Proposition 2 may be the most important item on ballot this November 8. It's all about giving local communities a cost-effective way to improve their water- and wastewater-delivery systems.
The Texas wildfires have really been on my mind lately. For some living in neighborhoods at risk, residents had as few as five minutes to evacuate their homes. That got me thinking ... am I prepared to evacuate my home in five minutes?
Our family has big plans this weekend: we're carving our first jack-o-lantern together. Though this isn't our son's first Halloween, it is the first one in which he'll do more than coo, cry, and fill diapers ... and it all begins with carving the perfect jack-o-lantern for our doorstep.
About six months ago, I heard a knocking noise coming from a bedroom in my house. I discovered that it wasn't coming from the room, but outside it - a woodpecker was having quite a time on a trim board near the roof.
Lenders have always viewed real estate investors with a wary eye. It seems all investors are grouped into flip-and-run speculators with little skin in the game, no plan for maintenance and repair, yet huge expectations for short-term profits.
Typically, when people decide to buy a home, they don't start their search with a certain-priced house in mind. They start with a list of features they want and need.
If you live anywhere near Texas, you already know that devastating wildfires have been ravaging our state. In fact, an official of the American Red Cross recently told me that we've had a wildfire burning every day somewhere in Texas since December 2010. Ouch.
For those of us who haven't been through it, it's hard to imagine what it's like to leave your house as a wildfire approaches. Many Texans have faced that situation this year. Thousands have returned to find their property and belongings damaged or destroyed.
Before you even find a house you'd like to buy, you may want to sit down with your Texas REALTOR and talk about the contract. That way, when you do come across your dream home, you'll be able to craft an offer that will leave other buyers shaking their heads at "the one that got away."
Something will go wrong when you try to buy a home. There are too many pieces ... too many people ... to expect a real estate deal to glide to a successful result without a single hitch.
One of the most discussed issues at our house is ... our house. Not the house we just bought, mind you, but the one my wife owned before we got married. We made the decision to hang on to it and give property management a shot.
Many second-home owners, especially those in the full-time vacation rental business, are looking to purchase another property but are facing stringent financing guidelines.
Perhaps the most important DVD that my mom owns was created by her plumber. No, he's not an aspiring director of feature films. It's a video of the inside of her home's wastewater pipe.
Any day now, something very exciting is going to happen in our house: our 13-month-old son will take his first steps. My husband and I have been eagerly anticipating the event, holding our breath each time we set him on his wobbly feet. We're ready for the big moment and know we need to get our house ready, too.
Last week, a visit with my insurance agent prompted me to write a post on having the right insurance policy for your home. While I was updating my family's current policy, another question occurred to me - what about what's in my home? Am I certain I would receive proper compensation for my valuables if they were destroyed or stolen?
Have you made The List? You know ... that collection of must-haves, nice-to-haves, and better-not-haves for your new home. If you haven't made yours, you should.
Like most Americans, my husband and I have been following the string of natural disasters that have affected the U.S. in the last several months ... wildfires in the West, tornadoes in the Mideast and, most recently, massive flooding throughout the South. In each case, thousands of families have lost their homes and our hearts go out to them.
As hard as it is for me to believe, my wife and I have been in our new house for six months already. Like many recent homebuyers, we were given a home warranty on our purchase.
For a household with two working parents, a one-year-old, and three pets, "busy" is hardly an adequate description of our lifestyle. While it has been a work in progress, I am proud that most days things don't completely fall apart, and every now and then I'm even able to do things like organize closets or do a little yard work.
Usually, people only think of REALTORS when they are about to make a decision on buying or selling a home. But did you know that Texas REALTORS work for you all year long? Members of the Texas Association of REALTORS work with our local, county, and state lawmakers to ensure Texas remains a "homeowner friendly" state.
Alright, I'm not really proposing that you put an addition on your house before you sell it. But I do recommend making the rooms in your home look bigger, because you'll never hear a buyer say, "I was really hoping for something more cramped."
Yep, we're those parents. The ones who jump up and down like fools when our son learns how to clap and who throw big parties for his first birthday. On our journey to becoming those parents, we discovered something handy: our neighborhood has a clubhouse.
I bought my first house in 2004 and, looking back, I realize how hard I made it on myself - and others in the transaction - because I wasn't working from a clearly defined plan. And that's really the first step.
Why haven't real estate agents gone the way of travel agents? I've heard that question many times. To me, the answer is simple: Buying a house ... or commercial or investment property ... is nothing like booking a trip.
I can't believe they left me a pile of trash, I thought. My wife and I had just closed on our first home and walked into our new kitchen to find papers, booklets, cans of paint, and other items stacked on the counter.
Have you heard the term mental accounting? It's the notion that people make financial decisions based on perceptions and emotions rather than more-objective criteria.
I'm so excited, I can hardly stand it: my husband and I are going on vacation!!! A real vacation! No sleeping on family members' fold-outs and no work. Just beaches, water views and food enough for an army for seven glorious days. I can smell the sea water already...
My husband and I are fortunate to have a large, tight-knit family. Between us, we have 19 wonderful nieces and nephews who live just three hours away and this weekend, six of them came to visit.
Let's say I want to buy your house. You're selling it for $200,000, but I offer $160,000. You're not selling it for that amount, so you counter with $190,000. I then propose that we split the difference, at $175,000. Do you think that's a fair price?
Lawmakers are considering legislation to prohibit private transfer fees on real estate transactions. These fees require a buyer to pay a percentage of the sales price of the home to a private entity each time the property is sold for a designated period of time, frequently 99 years.
If I buy a house today, will it be cheaper tomorrow? In other words, if I buy now, what is the likelihood my property's value will decline, and I won't be able to sell it for what I paid for it? Put yet another way, have we hit bottom on home prices?
Like my colleague, I watch a lot of HGTV. Not only are they relevant to my profession, but having just remodeled one house and bought another one, I find the shows interesting.
When buying a house, a good Texas REALTOR will assist you with the "Ps and Qs" of the contract, inspection, and closing process. They will help ensure the "Ts" are crossed and the "I's" are dotted.
There used to be a big push by lenders to secure "customers for life." Not only did banks promote attractive mortgage programs, but they also targeted the same customers for checking and savings accounts, individual retirement accounts, credit cards, auto loans, wealth management advice, and insurance services.
I watch more Home and Garden TV than I care to admit, especially the show "House Hunters." On it, people looking to buy a home are paired with a local Realtor and shown three properties. At the end of the show, the homebuyers make an offer on one of the three places.
I'm a huge fan of cooking shows. Ina Garten, Rachael Ray, Giada de Laurentiis ... you'd think they were all long-lost friends based on the space they command on my DVR. That being the case, a reasonable person would assume I'm also a fan of cooking ... not exactly.
A Manhattan court diminishes a 334-year-old legal precedent meant to ensure that all legal binding contracts for the sale of real estate be in writing and signed by the parties.
If you've read my biography, you know that part of my day job is serving as Public Relations Counsel for the Texas Association of REALTORS. Normally, you won't find this blog crossing over with that role ... except when it does.
Whoever invented the undo function in computer software is one of my heroes. Think about it: If something doesn't turn out the way you intended, hit Control + Z and - poof - it never happened. There aren't many places in life where you get to undo your actions like that, but the option period in a real estate contract is one of them.
"Winter" and "Texas" usually only go together when you're talking about Winter Texans - those smart folks who escape to our state to avoid frigid temperatures in hometowns of Chicago or Fargo. Last weekend, however, "winter" and "Texas" collided in a big way. Was your house ready?
My wife and I are not the FSBO type. She's too practical and I'm too worried about messing up some seemingly insignificant business detail, only to have it come back and bite me on the backside.
I'm about to buy a house. The seller states in the Special Provisions section of the contract that he's selling the house "as is." I have an inspection scheduled during my option period. If the inspector finds a major problem, can I still opt out of this contract before the end of my option period just losing the option money?
My husband came home with this adorable puppy. A mix of Labrador and hound, she was about five pounds with floppy ears and a sweet little face. Despite all that cuteness, I still had hesitations.
My father owns a condo that's been on the market for a year. He installed new carpet, repainted all the rooms, and updated all the light fixtures. The problem is the outside. We've gotten a lot of feedback from showings that the condo's exterior is scaring away potential buyers.
I have never been a fan of using a bogeyman to make a point. It takes away from intelligent and thoughtful discourse and often leaves a wake of irrational fear.
Many people start the new year with resolutions about losing weight, starting a new physical fitness routine, or getting their financial house in order.
Dear George: My husband and I submitted a signed offer, earnest money, and option fee to a listing broker's "broker associate" for a piece of property.
Dear George: I need to lease a home where a man murdered his wife before committing suicide. I've know it's a good idea to disclose such an event to a potential buyer, but what about a potential tenant?
Dear George: My ex-husband and I have a contract to sell our former home. However, the closing agent says that a creditor placed a judgment against our home due to credit problems my ex-husband had after we separated.
Dear George: We recently paid an option fee and earnest money to enter into a binding contract for a distressed home that has sat vacant for five years.
According to the Texas Quarterly Housing Report released today, the volume of real estate sales in Texas decreased in the third quarter of 2010, but was essentially flat year-to-date.
Home sales statistics are likely to paint a picture of a weakening market through the end of 2010 and the first half of 2011. That doesn't tell the whole story.
Dear George: We live in an apartment complex where I fear for my family's safety. There are large dogs with muzzles. My car has been broken into. Are these valid reasons to break my lease?
The federal homebuyer tax credit has received a lot of coverage over the past several months, but one thing not widely publicized is that the April 30 deadline doesn't apply to everyone.....
It's coming down to the wire. You have only until the end of April to get a house under contract if you want to take advantage of the federal homebuyer tax credit.....
If governmental entities had full discretion on what was a public good, all private real property would be at risk of being appropriated for the public good.....
If you were thinking of buying your first home but just couldn't get it together in time to take advantage of the $8,000 federal tax credit, you have an extension. Congress gave you about five more months......
A pair of researchers at CERGE-EI, a Czech university, examined evidence about the origins of the housing bubble and whether it ever existed at all.....
On Nov. 3, 2009, the voters of Texas will once again have an opportunity to take a stand against the burdensome and uneven taxation of residential property.....
Don't confuse the appraisal with market value. The appraised value is a certified appraiser's opinion of the worth of a home at a given point in time......
No, it's no joke. As a first-time homebuyer with a moderate income, you may be able to save $68,000 on a home. That's $8,000 on the purchase and $60,000 over the life of a 30-year loan.....
If you've been paying attention to the recent "stimulus" activities in Washington, you already get the reference to 8,000 reasons in the headline above. It's really only one reason, but it could be worth $8,000 to you.....
There are few things more frustrating to a seller than a home that sits on the market. It's stressful to keep a house in showing condition, and not selling can cost you lots of money.....
After you buy an existing home, let's face it - the last thing you want to worry about is a broken big-ticket item like the air conditioner or oven.....
Aside from the necessary intrusions, the most inconvenient aspect of having your house on the market may well be keeping the house in showing condition.....
This month on our "Inside Texas Real Estate" podcast you can learn how the Housing and Economic Recovery Act helps first-time homebuyers and homeowners struggling to afford their mortgages.....
There's a common statistic in the real estate world called Days on Market, or DOM. Some people believe a property that has been on the market for a while must have serious problems, but this is not necessarily the case.....
If you're selling your home and you require advanced notice, ask your agent to put the restriction and reason in the private remarks section of MLS.....
Are you one of the people who is trying to "time the market" and wait for home prices to go down before you make a purchase? Doing so may not be as wise as you think......
"Now's not the best time ... can we set something up for later?" These are words that a buyer and his agent do not want to hear when they're out looking for a property.....
You'll be given all kinds of advice and pointers about what you should do and how you should do it, but there are things you shouldn't do that are equally important......
From the way consumers acquire information about properties and neighborhoods to the way agents market themselves and their listings, real estate, like so many other industries, has been fundamentally altered by the Internet......
There are many factors that can affect the sale of your home. Many of these, like interest rates, number of buyers, and amount of competing inventory, are simply out of your control. There are, however, things that you.....
Muchas personas cuando deciden comprar una vivienda, la primera imagen que les viene a la mente es una casa, con un bello jardín, tal vez bordeado de una linda cerca de madera y con un bonito patio.....
A partir del primero de enero del 2008, toda persona interesada en solicitar una licencia de agente de bienes raíces en Texas, como vendedor o como corredor, ahora debe proveer sus huellas digitales para un chequeo del FBI sobre antecedentes criminales.....
Many consumers believe that they can't qualify for a home loan because of a variety of reasons, including spotty credit and no money for a downpayment.....
If you're putting your home on the market, or if it has been on the market for a while without solid offers, you may consider including some appliances, furniture, or other extras in the asking price.....
Many times, when an offer is made on a residential property in Texas, the prospective buyer will cut two checks: one for the option fee, another for the earnest money.....
During the process of buying your home, you'll hear the word escrow thrown around. It's easy to get confused because the term can refer to different things that occur at different times.....
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Jerold and Terry Smith
Common name, Uncommon service
Licensed Texas Real Estate Broker - Owner
Phone: 214.415.9829
Copyright - 2004 - And Beyond
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