Ten Tips for First-Time Homebuyers

Courtesy of Patti Duty, REALTOR® Ten Tips for First-Time Homebuyers Be picky, but don’t be unrealistic. There is no perfect home. Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you. Get your finances in order. Review your credit report and be sure you have enough money to cover your downpayment and your closing costs. Don’t wait to get a loan. Talk to a lender and get prequalified for a mortgage before you start looking. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion. Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you’ll buy as well as type of mortgage terms that suit you best. Don’t let yourself be house poor. If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals. Don’t be naïve. Insist on a home inspection and if possible get a warranty from the seller to cover defects within one year. Get help. Consider hiring a REALTOR® as a buyer’s representative. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. And often, buyer’s reps are paid out of the seller’s commission payment. Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved. GET MORE TIPS AT: www.WiseAgentOnDuty.com

How High Tech is Your Home?

Courtesy of Patti Duty, REALTOR® How High Tech is Your Home?     If the latest technology or entertainment options are important in your new home, add the following questions to your buyer’s checklist. Are there enough jacks in every room for cable TV and high-speed Internet hookups? Are there enough telephone extensions or jacks? Is the home prewired for home theater or multi-room audio and video? Does the home have a local area network for linking computers? Does the home already have wiring for DSL or other high-speed Internet connection? Does the home have multizoning heating and cooling controls with programmable thermostats? Does the homes have multiroom lighting controls, window-covering controls, or other home automation features? Is the home wired with multipurpose in-wall wiring that allows for reconfigurations to update services as technology changes? Visit the Consumer Electronics Association (www.ce.org/techhomerating) for a complete Tech Home ™ Rating Checklist. Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved. GET MORE TIPS AT: www.WiseAgentOnDuty.com

Obama Waives #Refi #Requirement ... #Refinance #mortgage #realestate #realtor

Obama Waives #Refi #Requirement

from lowermybills .com 

June 2014: Obama gives homeowners a bailout. If you owe less than $625,000 on your home, use the President's Refi Program. You'll be shocked when you see how much you can save. CALCULATE NEW HOUSE PAYMENT

 

In the President's State of the Union address, he told homeowners that if they refinanced at today's historically low rates, they could save up to $3,000. This statement can be found in the State of the Union transcript - http://www.whitehouse.gov/the-press-office/2012/01/24/remarks-president-state-union-address. Additionally, homeowners who refinance from 30 year fixed mortgages to 15 year fixed mortgages can save up to $145,000. Further information for this can be found at http://www.nytimes.com/2011/08/21/realestate/exploring-the-15-year-loan-for-refinancing-mortgages.html

Under provisions of the Making Homes Affordable Act (a.k.a. HARP 2.0), signed into law by President Obama, Fannie Mae has removed certain loan refinance requirements for qualifying loans including the Loan-To-Value (LTV) ceiling for fixed-rate mortgage, property appraisal, minimum credit score & credit check, and eliminated & lowered certain fees for borrowers making it easier to refinance into a lower rate mortgage, effectively reducing the amount of interest paid (and owed) over the life of the loan. More info: http://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Fannie-Mae-and-Freddie-Mac-Announce-HARP-Changesto-Reach-More-Borrowers.aspx

LowerMyBills, Inc. is not acting as a lender or broker. The information provided by you to LowerMyBills is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender. If you are contacted by a lender or broker advertising within our network, your quoted rate may be higher depending on your property location, credit score, loan-to-value ratio, debt-to-income ratio, and/or other factors. LowerMyBills does not offer its matching services in all states. This loan may not be available for all credit types, and not all service providers in the LowerMyBills network offer this or other products with interest-only options.

 

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Ten Questions to Ask A Home Inspector #realtor #realestate #home #inspection

Courtesy of Patti Duty, REALTOR® Ten Questions to Ask A Home Inspector What are your qualifications? Are you a member of the American Association of Home Inspectors? Do you have a current license? Inspectors are not required to be licensed in every state. How many inspections of properties such as this do you do each year? Do you have a list of past clients I can contact? Do you carry professional errors and omission insurance? May I have a copy of the policy? Do you provide any guarantees of your work? What specifically will the inspection cover? What type of report will I receive after the inspection? How long will the inspection take and how long will it take to receive the report? How much will the inspection cost? Portions adapted from Real Estate Checklists and Systems and used with permission. (www.realestatechecklists.com) Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved. GET MORE TIPS AT: www.WiseAgentOnDuty.com

Ten Tips for First-Time Homebuyers

Courtesy of Patti Duty, REALTOR® Ten Tips for First-Time Homebuyers Be picky, but don’t be unrealistic. There is no perfect home. Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you. Get your finances in order. Review your credit report and be sure you have enough money to cover your downpayment and your closing costs. Don’t wait to get a loan. Talk to a lender and get prequalified for a mortgage before you start looking. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion. Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you’ll buy as well as type of mortgage terms that suit you best. Don’t let yourself be house poor. If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals. Don’t be naïve. Insist on a home inspection and if possible get a warranty from the seller to cover defects within one year. Get help. Consider hiring a REALTOR® as a buyer’s representative. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. And often, buyer’s reps are paid out of the seller’s commission payment. Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved. GET MORE TIPS AT: www.WiseAgentOnDuty.com

Ten Things to Take the Trauma Out of Home Buying

Courtesy of Patti Duty, REALTOR®

Ten Things to Take the Trauma Out of Home Buying

1. Find a real estate agent that’s simpatico. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the agent you chose is both skilled and a good fit with your personality.
2. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.
3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.
4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.
5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.
6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself—room size, kitchen—that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home.
7. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.
9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.
10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is as a comfortable, safe place to live.

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved.

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READY TO BUY a Home? Ten Steps to Prepare for Home Ownership

Courtesy of Patti Duty, REALTOR®

Ten Steps to Prepare for Home Ownership

 

1. Decide how much home you can afford. Generally, you can afford a home equal in value to between 2 and 3 times your gross income.
   
2. Develop a wish list of what you’d like your home to have. Then prioritize the features on your list.
   
3. Select three or four neighborhoods you’d like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety.
   
4. Determine if you have enough saved to cover your downpayment and closing costs. Closing costs, including taxes, attorney’s fee, and transfer fees average between 2 and 7 percent of the home price.
   
5. Get your credit in order. Obtain a copy of your credit report.
   
6. Determine how large a mortgage you can qualify for. Also explore different loans options and decide what’s best for you.
   
7. Organize all the documentation a lender will need to preapprove you for a loan.
   
8. Do research to determine if you qualify for any special mortgage or downpayment assistance programs.
   
9. Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees, if applicable.
   
10. Find an experienced REALTOR® who can help you through the process.

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved.

 

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Five Common First-Time Homebuyer Mistakes #RealEstate #Realtor

Courtesy of Patti Duty, REALTOR® Five Common First-Time Homebuyer Mistakes   They don’t ask enough questions of their lender and miss out on the best deal. They don’t act quickly enough to make a decision and someone else buys the house. They don’t find the right agent whose willing to help them through the homebuying process. They don’t do enough to make their offer look good to a seller. They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years. Reprinted with permission from Real Estate Checklists and Systems (www.realestatechecklists.com) Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved. GET MORE TIPS AT: http://www.wiseagentonduty.com/buyers2.asp

Selling? What is Appraised Value? #tax RealEstate #Realtor

Courtesy of Patti Duty, REALTOR®

What is Appraised Value?

It’s an objective opinion of value, but it’s not an exact science so appraisals may differ.

For buying and selling purposes, appraisals are usually based on market value—what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes. Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value.

Appraised value doesn’t consider special considerations, like the need to sell rapidly.

Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.

Used with permission from Kim Daugherty, Real Estate Checklists and Systems, www.realestatechecklists.com
Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved.

 

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Selling your Home? Tips for Yard or Garage Sale

Tips for Holding a Yard Sale

 

Use a yard sale to reduce the clutter in your home and get rid of items you don’t want to move.

1. Check with your city government to see if you need a permit or license.
2. See if neighbors want to participate and have a “block” sale to attract more visitors.
3. Advertise. Put an ad in free classified papers, put up signs and balloons at major intersections and in stores near your home.
4. Price items ahead and attach prices with removable stickers. Remember, yard sales are supposed to be bargains, so don’t try to sell anything of significant value this way.
5. Check items before the sale to be sure you haven’t including something you want by mistake.
6. Keep pets away from the sale.
7. Display everything neatly and individually so customers don’t have to dig through boxes.
8. Have an electrical outlet so buyers can test appliances.
9. Have plenty of bags and newspaper for wrapping fragile items.
10. Get enough change, and keep a close eye on your cash.

RESPONDER OF THE YEAR Decatur TX

Congratulations James Carr!

RESPONDER OF THE YEAR

 

Firefighter Paramedic James Carr, a member of the Decatur Fire Department, was named the State Firemen's and Fire Marshals' Association of Texas EMS Responder of the Year this weekend.  I just want to let him know that  as a Wise County Resident, (City of Decatur as well) that I appreciate and value his service to our community. So Thank You Mr. Carr! May God Bless you and Be Safe.

HOMES in HASLET TX Real Estate Realtor

HOMES FOR SALE IN HASLET

 

Land, Home and Property Search Tool.

http://wiseagentonduty.idx.co/homesearch/58420

As well as a Property Organizer and an Alert Tool.

The Alert Tool is set up to your personal specifications.

Get notified when a new property that meets your criteria becomes available.

Choose Haslet from the drop down menu for the city.

Add other information to filter the results.

Contact me if you have any questions.

 

Patti Duty ... the Wise Agent On Duty for you!

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