Tag Archives: #homebuyer

Why do I need a mortgage pre-approval?

The Realtor® requests a mortgage pre-approval or verification of funds. You have determined you are ready to research  the purchase of a house. You may start out looking at homes on real estate websites. During the process, you contact a real estate agent to view a specific home. You may not be ready to disclose all of your personal information, at this time. It may be your preliminary plan to determine what is available in the market. You may be researching a different area to move to or you aren’t sure of your buying power. The purchase of a home is the largest financial transaction most people will make in their lifetime. A serious buyer is willing to provide the information necessary to complete this transaction.

If you are on a search for a new place to call home, you will have to pay for it. A mortgage pre-approval gives you insight into how much home you are able to afford. A mortgage professional can also educate you on options and benefits you may not have been fully aware of. We all like to think we are our own experts but even Realtors® learn something new with each change in lending laws, policies and guidelines. Mortgage lenders are expert in their field and will provide all options available to you.

“PRE-APPROVED”

A cash buyer will be asked for verification of funds. A percentage of prospective buyers feel they do not have to disclose their personal information to a real estate agent. An experienced Realtor® will verify the buyer’s ability to pay. A licensed Realtor also has a fiduciary duty to keep information confidential and direct actions in the best interest of his/her customer/client.

If you are unable to apply for a mortgage or do not have your funds at goal status, a real estate agent will be able to provide information necessary for a successful transaction. If you have an existing relationship with a financial institution, they may be able to provide direction for attaining your home buying goals.

For the safety of a real estate agent and the owners of the homes you wish to view, prospective buyers must provide personal identification. Contact information allows the Realtor® to communicate information essential to the customer’s needs. When you are ready to purchase a home, realize the real estate agent providing services to you, is a professional. Your best interest is forefront.  A qualified buyer will have the information necessary to make the best decisions.

 

APeto-Selby.com©2017 All rights reserved.

20 Reasons to want multiple master bedrooms

According to a realtor.com® analysis, active listings which include more than one master bedroom, average 9 percent higher in price than those that do not. Consumers are more vocal when it comes to stating their needs in a home. Multiple master bedrooms are becoming the new trend in homes. Consumers are open when stating why they want more than one master bedroom. Some folks will share information they don’t tell their pastor, priest or rabbi but they will tell their realtor® specifically why they want separate master bedrooms.

Reasons for multiple master bedrooms:

  • Partners snore, thrash, talk in their sleep or get up too often during the night
  • Multi generational family needs – elderly parents, boomerang kids, siblings
  • Sleep disorders – such as insomnia, sleep walking, sleep apnea, sleep eating
  • One partner wishes to sleep with pets in the bed and the other disagrees
  • Accommodating children in the bed and the other partner requires sound sleep
  • Professions requiring nightly interruptions
  • Non-traditional work hours
  • Halitosis
  • Separated, living under the same roof
  • Open lifestyles (open to interpretation)
  • Environment – room temperature, more/less bedding, light/dark
  • Different preference for mattress/bed type (he hates the waterbed)
  • One can’t sleep without the TV on and the other requires silence
  • A need for one’s own space
  • Religion
  • Guest accommodation
  • Illness
  • Mismatched body clocks – night owl, early bird
  • Decorating differences – flowers and lace vs. taxidermy and ammo
  • They just want to sleep alone
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Master bedrooms

It is important to tell your realtor® the specific type of home you want. The number of en- suite bedrooms is noteworthy. The reason why is strictly your own business.

A professional real estate agent or broker will be able to assist you in finding your dream home with the amenities you are seeking.

 

APeto-Selby.com 2017© May not be reprinted without explicit written permission. All worldwide rights reserved.   

New construction in La Marque Texas

New construction homes are being built in the HeaderDelany Cove Subdivision,  La Marque, Texas – a 15 minute drive from Seawall Blvd in Galveston – or a 30 minute commute to downtown Houston. La Marque has the advantages of both living near the gulf coast beach with access to a major metro area.

Delany Cove is minutes from the Gulf Freeway (I-45), Tanger Outlet Mall, Texas City Dike, shopping, restaurants and outdoor recreation. The 25 acre amusement park, Adventure Pointe is currently under construction next to Tanger Outlet Mall. Updates for the opening date are available on the Adventure Pointe Facebook page https://www.facebook.com/adventurepointepark   Delany Cove has a children’s playground with picnic area and benches for family enjoyment. Hitchcock Independent School District serves this community’s educational needs.

La Marque Texas has the small community feel but is the gateway to a major metropolitan area. Houston offers pro sport events for the Houston Astros, Texans, Rockets and Dynamo. The arts are abundant with access to the Houston Symphony,  A 40 minute commute to the Houston Museum District and the Houston Zoo.

New home construction does not require changing wallpaper, carpet color, kitchen remodels or painting.  A brand new home is move-in ready. New construction has the “new home smell”. No one else walked barefoot on the carpet or brushed their teeth in the bathroom sink.

GreenECO Builders and Lennar Homes  offer spacious floor plans and beautiful elevations to choose from in the Delany Cove subdivision. New construction homes include new kitchen appliances, landscaping and choices available to make it your unique home. To insure your best interests are a priority, visit Delany Cove with your real estate agent. A Realtor will offer individual attention to the home buying process as well as working with the builder. This is at no additional cost to you as the new home buyer.

Call Andi Peto-Selby, Realtor® 713.870,0208,

APeto-Selby@bdrealty.com for additional information.

 

 

©APeto-Selby.com 2017 All rights reserved. May not be reprinted without explicit permission.

Mortgage credit qualification

Balance in your life will lead to a balanced credit profile. Planning the purchase of a home involves multiple steps and financial practices ahead of viewing new homes. A satisfactory credit rating to qualify for a mortgage is not instantaneous. It involves planning, self discipline and intimate knowledge of your personal money management.Mortgage credit qualification

A great number of folks do not know off the top of their heads, what their net and gross incomes are per year. Money management is key in creating and maintaining a balanced credit report with the three (3) major credit bureaus, TransUnion, Equifax and Experian. Money management is knowing exactly how many dollars are coming into your home and how many dollars are exiting. The exit dollars must be designated strategically to work for you. Knowing where each dollar is allocated will allow your goals to be met.

Mortgage credit qualification requires self discipline. Your personal credit profile includes secured and unsecured loans, revolving credit cards, mortgages, vehicle loans, student loans and any loans you may have consented to as a co-applicant, co-signer or guarantor.

In order to qualify for a mortgage, your credit report will project the amount of risk a lender is willing to take by lending you funds to purchase a home. A few of the elements a lender will consider is the amount of debt you have accumulated in reference to your income (debt ratio). The amount of available credit, in reference to your monthly income may be viewed as a higher risk. Little to no credit will not provide enough of a history to calculate risk. The manner in which you pay your obligations is a risk factor. Paying debts late, riding the credit line/limit, bankruptcy, liens, foreclosures, repossessions and charge-off accounts weigh in the negative when calculating the probability of your ability to pay a mortgage payment in a timely fashion. Paying your credit obligations, on time, will increase your credit score and decrease your risk factor.

A free – (really free) credit report, authorized by federal law, is available to each consumer at: www.annualcreditreport.com

Knowing where you spend each and every dollar will also enhance your ability to qualify for a mortgage. A budget that includes saving for a down payment and closing costs will show a lender you’re disciplined and able to take care of your business. Balance in your life includes balance in your budget. Extremes in borrowing practices and running credit lines continuously up to their limits will present “red flags”. Writing down all expenditures, from fast food to gasoline will enable you to realize all money spent. Knowledge will be the foundation to grow your house buying plan.

 

 

APeto-Selby.com 2016© All rights reserved

HomeBuyer house hunting homework

Has your prospective dream home been the scene of a horrific murder? The history of the home and previous occupants may be of concern or hold historical value to a potential buyer. Homebuyer house hunting homework may be the call of action to answer important inquiries.

A professional Realtor® should readily have an answer or the resource available to research an answer. Questions are encouraged. An informed consumer is in a better position to make a qualified decision for purchase.

Examples of prospective homebuyer questions could be and have been:

  • Has anyone died in this house?
  • Were there any crimes committed in this house?
  • Are there sex offenders living nearby?
  • Is there a pet leash law?
  • Does the subdivision allow 3 story high jungle gyms?
  • Can I run my business from this house?
  • How far is the nearest firehouse?
  • Can I breed pit bulls in the backyard?

Your Realtor® should know, according to his or her state laws governing whether they are able to discuss a death in the home. Texas Realtors® or home owners are not obligated to disclose this information – whether they are aware of it or not. As a prospective buyer, you have the right to research available police records, state, county and local jurisdiction public files and local newspapers and publications for information related to the home’s address.

Public records will also be the key to the history of home ownership. Most counties now have the line of ownership available on the Internet. If you are an observant researcher, it may be evident to determine if the home was inherited or transferred within a family, a foreclosure, a history of improvements, tax history, lien history and a record of the properties/improvements dimensions.

The US Department of Justice National Sex Registry has a website for researching if there are sex offenders living nearby or within the community. The Internet is also a resource for locating the nearest police and fire house. If the home is located in a town, borough, suburb or sub-division community, they may have their own website with local rules, laws, regulations and activities available. Sub-divisions may also have a copy of the by-laws and deed restrictions posted by the home owner association (HOA). Your real estate agent will also be able to obtain home owner association information for you, also.

Home owner association by-laws and deed restrictions are usually very specific and will let you know the requirements for home ownership within the subdivision. Local jurisdictions will also inform you of yoHomebuyer house hunting homeworkur ability to run a business from your residence or not. Ask specific questions. You may be able to conduct business but may not be able to post a sign advertising the business on the property. Local jurisdictions will also be able to inform you of laws and regulations in reference to pet ownership.

Again, your real estate agent or broker will have neighborhood knowledge and resources to assist with answers to your questions.

 

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