Wednesday, May 24, 2017

As a buyer, time is of the essence

A smiling family stands behind a For Sale sign that has a Sold rider attached to it. The family consists of a husband, wife, young son, and young daughter.Buying a home isn't a process to be rushed. Yet with all the variables that go into purchasing property—your existing finances, mortgage rates, competition from other buyers, assistance programs, and government policies—the smart buyers are the ones who are ready to jump at the right deal.  To set yourself up for success, have all aspects of the buying process you can control squared away as far advance as possible. That might mean working on your own finances, current housing situation, or applying for assistance programs as early as possible—maybe months ahead of when you start house shopping in earnest.

Make sure you're going into the buying process with a team of professionals to help, as well. That may include knowing a good real estate attorney, researching reputable home inspectors, establishing a relationship with a mortgage broker, and of course, finding a REALTOR® you feel comfortable with. Of first-time home buyers in Texas, 71% said their real estate agent helped them understand the process of buying home and 51% of all buyers said they received better contract terms because of their agent, according to the 2016 Profile of Texas Home buyers and Sellers.
Author: Michael Schrantz, Texas Association of REALTORS®

The most important negotiating tip

There’s a simple thing you can do to put yourself in a powerful negotiating position: If you want something, don’t care about getting it.
Does that sound crazy? Can you see yourself not caring about your dream home, the one you can see yourself blissfully happy in for years to come?
Don't misunderstand me. I'm not suggesting you don’t try to get the house. Not caring means you sit down with your Texas REALTOR® and put together a data-driven offer that makes sense for your situation. Then you divorce yourself from the outcome.

Not caring—removing the emotion—makes your decisions easier because you’ll be assessing objective criteria. Either the seller meets your price or he doesn’t. Either he agrees to make a repair or he doesn’t.
Woman in red long-sleeved shirt looks behind her shoulder at man pointing to paper she is holdingYou won’t win every negotiation this way, but you’ll be less likely to pay more than you wanted to or compromise on something that you’ll regret.
There’s no line in the contract that says, Check this box if you really want this house. Focus on the particulars of the deal without caring about the outcome. It’s easier said than done.
Author: Ward Lowe, Texas Association of REALTORS®
If you have questions regarding your property, please call us today for a FREE consultation!




Wednesday, May 17, 2017

Is there a difference between a credit score and a credit report?

You’ve probably heard of both, but you may not know the difference between them. Credit reports and credit scores are closely related, but they aren’t the same thing. However, both are useful when it’s time for you to buy property, so here’s what you need to know about each.

What’s a credit report?
A credit report shows your credit habits and history. It tracks how much debt you have, including student loans and on credit cards, and when you pay your bills. It may even show information about bills you may not think are related to your creditworthiness, like your utility or cable bills. Credit reports may also show whether you’ve been sued or declared bankruptcy.

A manual calculator, a toy house, and a fan of $100 bills resting on top of blank formsYou can request your credit report for free. There are three credit-reporting companies, TransUnion, Experian, and Equifax, but you can access any of their reports through annualcreditreport.com. Although you can only request one free report from each company per year, it might be a good idea to stagger the requests rather than pull all three at once so you can monitor your credit throughout the year.

What’s a credit score?
Think of a credit score as the grade you get based on your credit report. Credit scores are not free to obtain like credit reports, but the same three companies provide them. Scores are a three-digit number, and higher scores mean a higher likelihood that you’ll be approved for a mortgage loan.

Scores can also vary based on the source providing it. For example, some credit card companies have started providing cardholders with a credit score as part of their benefits. While these scores can be helpful to track, they are only one tool for determining your creditworthiness, and may be different than what a mortgage lender uses.

What’s the takeaway?
Your credit report and your credit score are two important tools to keep track of when you’re thinking about investing in property. But since the information you get from either can vary, it’s a good idea to work with a professional to understand your creditworthiness. Your Texas REALTOR® can help you find all the tools and professionals you need to put you on the path to homeownership.

Author: Editorial Staff, Texas Association of REALTORS®

Avoid these mistakes between loan approval and closing

You've been careful with your finances, saved for a down payment, and finally received approval for a mortgage loan. It’s time to celebrate, right?
Not yet. Your lender will recheck your credit right before closing. Don't give him or her reason to question your creditworthiness by making these mistakes:
1. Changing jobs
Changing employers could mean delays due to employment and salary verifications. Of course, you shouldn't ignore a great career opportunity. It means only that optional moves should wait.
2. Making a big purchase
Your debt-to-income ratio is an important factor when being considered for a loan. If you add to your debt by purchasing a car or boat, you risk exceeding the ratio that your lender finds acceptable. 
3. Opening credit accounts
You might apply for a credit card so you're ready to buy furniture for your new house. But similar to taking on new debt, applying for a new credit account can harm your mortgage approval. The credit inquiry necessary for the new account will ding your credit score a few points, and the lender might wonder just how much you plan on spending with that new account.
An man in a suit extends a set of keys with a For Sale sign partially visible in the background.
Part of the mortgage process is a final check to ensure you can afford the loan. Neither you nor the lender wants the payments to be a struggle, so don’t give the lender any reason to doubt your creditworthiness.
Author: Ward Lowe, Texas Association of REALTORS®



If you have questions regarding your property, please call us today for a FREE consultation! 


Wednesday, May 10, 2017

Thinking of selling your home yourself? 
Here’s what you need to know:

If you’re wondering about the value of hiring a Texas REALTOR®, you’re not alone. But before you decide to do a FSBO (for sale by owner), see if you can answer these questions.

Red sign in the shape of a home with white arrow and white text: HOME FOR SALEHow much your home is worth? When it comes to pricing, you can’t rely on estimator websites to give you an accurate value. Those sites don’t have data about what homes are selling for in your neighborhood or how your kitchen remodel affects your price. In addition, it’s easy to let your personal attachment to the property inflate the price. And be careful, because if you price it too high, it will linger on the market. But if you price it too low, you’ll lose out on money.
Can you market your property? You can put a sign in your yard, post your property to a few classified websites, and maybe make some fliers to hang. How many potential buyers do you think that will bring you? Probably not a lot.
Are you ready to show your house? If you do attract potential buyers, you’ll have to keep a flexible schedule to juggle showings. Don’t forget about the safety concerns associated with letting strangers into your home.
Can you avoid legal problems? Real estate transactions are complex, and legal issues come up frequently. One small mistake on your part could cost you big, whether it’s because you’ll lose money or end up in a lawsuit. Be ready to spend time reading through paperwork and researching to make sure you’re not breaking the law.
As you can see, selling your home on your own means investing your time in research, marketing, showing the property, and more tasks that aren’t even mentioned here. That’s probably why 87% of sellers in Texas used a Texas REALTOR® last year.
Texas REALTORS® have access to accurate data to determine the right price for your property. They’re able to market your property more extensively than you could alone. Texas REALTORS® also take care of showings and vet potential buyers for you. And they can call the Texas Association of REALTORS® Legal Hotline, staffed by five attorneys who can answer their questions about real estate law and related matters. Instead of going it alone, talk to a Texas REALTOR®, who has the experience and tools to make your home sale go smoothly.

Author: Editorial Staff, Texas Association of REALTORS®

4 reasons to contact a Texas REALTOR
Before you enter the world of real estate on your own, see if a Texas REALTOR® can help you instead. Here are four reasons to reach out to one.
A smiling man in a light-blue button-up shirt sitting next to a smiling dark-haired woman in a short-sleeved button-up white shirt across the table from a man in a suit whose back is facing the cameraWhen you want to know how much your home is worth 
While you could use a home-valuation website that tells you a number, you shouldn’t rely on it alone. These sites often don’t know the details of your property, the current market, and what buyers are looking for in your area. A Texas REALTOR® can help you determine a more accurate price for your property.

When you want help narrowing down your options 
You could spend hours and hours searching for properties online, contacting owners or their agents to see the property, and figuring out whether it’s a good deal. Or, you could hire a Texas REALTOR® to cut through the clutter by determining your needs, finding properties that fit those parameters for you, and setting up tours to see them. On top of that, they can help you figure out if the price is right and what you can afford.
When you need help navigating negotiations 
Not everyone is skilled at negotiations, but Texas REALTORS® are. They’re armed with the most up-to-date information about laws, the market, and more that puts them in a position to negotiate on your behalf with confidence.
When you value your time 
Texas REALTORS® can save you a lot of time and hassles by handling the tasks you don’t have time to manage. For example, Texas REALTORS® have experience marketing properties, which means you don’t have to come up with a plan on your own. They also facilitate and explain the entire transaction process so you don’t have to keep track of every single detail.
Author: Summer Mandell, Texas Association of REALTORS®

If you have questions regarding your property, please call us today for a FREE consultation! 
our home!

Friday, April 21, 2017

Make your offer stand out in a hot market

Real estate markets are very competitive in many parts of Texas. As a buyer, how do you differentiate your offer from others that a seller receives?
Show how serious you are
If the sellers are asking for 1% of the sales price as earnest money, offer 1.5% or 2%. The extra deposit shows sellers that you’re committed to purchasing their property.
Don’t ask for extras
How many contingencies does your offer include? Financing? Selling your current home? While you might not be able to eliminate all contingencies, limit the ones you ask for.
Connect on a personal level
Consider writing a note to the sellers about you and why you love their property, and include that with your offer. This letter isn’t a negotiation tool and should not include anything about contract terms; it’s a way for the sellers to see more just numbers when they see your offer.
Author: Editorial Staff, Texas Association of REALTORS®



3 ways to give sellers your best offer
No one wants to spend more than they have to on a property, but no one wants to lose out on the perfect place. That’s why it’s important to do a little research before making an offer on a home. Take these three steps to present a compelling offer to sellers.

Decide on the right price
Real estate markets are localized, so the sale price of a home across town may have little to do with what a home in another area of town is worth. You can determine the right price by finding out how the property compares to similar homes nearby, what Texas REALTORS® call “comps.” Comps are an important part of determining price because they reflect neighborhood conditions. Your Texas REALTOR® can help you find the best comps to use for the property you want.
Show sellers you’re serious
Hitting the sellers’ perfect price doesn’t guarantee they will accept your offer. Homeowners will consider the amount of earnest money in the proposed contract as well. A higher number shows a higher level of sincerity about the purchase and may place your offer above others.
Be flexible
Some sellers may have a strong preference for when they close on the sale. If you can meet their timeline, your offer gains strength. And when you can help it, stay away from contingencies, or make them as moderate as you can. Why? Put yourself in the seller’s shoes. A slightly lower offer may be more attractive than a higher offer that’s contingent on the buyers needing to sell their own home.
Many things combine to make an attractive offer. Your Texas REALTOR® can help put together an offer that gives you the best chance of getting the home you want at terms that are favorable to you.
Author: Summer Mandell, Texas Association of REALTORS®

If you have questions regarding your property, please call us today for a FREE consultation regarding your home!


Wednesday, February 1, 2017

Why you should consider selling a home you haven’t even bought









01/13/2017 | Author: Editorial Staff
You’ll consider several criteria when purchasing your first home, but have you thought about how easy it will be to sell later? Things like location, features, and nearby amenities—the same criteria you’ll consider—can affect a property’s resale value.
You like it, but will they?
If it’s your first home, you may only plan to stay in it for a few years. And while you may be willing to buy a house that, for example, is located on a busy street or close to railroad tracks, ask yourself, “Will future buyers feel the same way?”
Keep the next buyers in mind
Once the home is yours, think about how to improve or maintain the home to appeal to future buyers. This can include things like upgrading bathroom or kitchen fixtures, improving the landscaping, or using paint colors that have broad appeal.
Ask an expert
If you have questions about whether a property will be easy or hard to sell in the future, please call us for a FREE consultation regarding your home!

Sunday, November 6, 2016


4 EASY WAYS TO UPDATE THE KITCHEN
 BEFORE YOU SELL

10/28/2016 | Author: Alexandra Bohigian, guest expert, Texas Association of REALTORS
Homebuyers can overlook many deficiencies in a property, but the kitchen isn’t usually a place they like to compromise. As such, it’s a great place to make small improvements before you sell. Here are four things you can do to make your kitchen a selling point.
Freshen the paint and backsplash
One of the easiest updates to your kitchen is to paint the walls and redo the backsplashes to fit today’s trends. Many homeowners are opting for neutral colors, such as gray or ivory, for walls and backsplashes. Not only do these colors provide a modern feel, they also provide a blank slate for prospective buyers.
Put a new face on appliances
Sure, buyers will love new appliances, but spending $10,000 on them won’t necessary add $10,000 to your sales price. Another option is to give your current kitchen appliances a facelift. New doors on the refrigerator and oven and panels for the dishwasher can make the kitchen pop without breaking the bank.


Lighten up the room
Lighting is extremely important for any kitchen. Simple overhead lighting is a thing of the past. Modern homebuyers are interested in unique, functional lighting that is cohesive with the overall aesthetic of the kitchen. Under-cabinet lights and glass pendants over islands are two of the top trends for modern kitchen lighting. Even installed battery-powered LED strips under cabinets can go a long way toward updating your kitchen’s look.
Modernize the cabinets
Kitchen cabinets are perhaps the most noticeable feature of your kitchen. They help establish the style and aesthetics of the whole room. Some cabinet companies have gone high-tech with digital visualizations of what different cabinet styles, designs, and colors would look like in your kitchen. If completely replacing your cabinets isn’t in the budget, a simple refurbishing of the current cabinets can add significant value to the kitchen and the overall appeal of any home. Kitchen updates like these give you great bang for your buck—and will catch potential buyers’ attention.


If you would like a FREE consultation to discuss getting YOUR home ready to sell, call me at (325)513-6990 to schedule an appointment.

Friday, May 27, 2016




DO YOU KNOW WHERE YOU LIVE?
ABILENE, TEXAS. Abilene is in the northeast corner of Taylor County. It is situated 1,708 feet above sea level on generally flat terrain. The city is connected east-west by Interstate Highway 20 and north-south by U.S. highways 83, 84, and 277. Reflecting its beginning as a railroad townsite, Abilene is bisected by the Texas and Pacific tracks, which run east-west.

Abilene owes its genesis to the Texas and Pacific and a group of ranchers and land speculators. Before the coming of the railroad, the Abilene area had been sporadically inhabited by nomadic Indians and United States military personnel and later by buffalo hunters and ranchers. By the 1870s the Indians had been driven out, and cattlemen began to graze their herds in the area. Taylor County was organized in 1878, and Buffalo Gap was designated the county seat. When the Texas and Pacific Railway began to push westward in 1880, several ranchers and businessmen—Claiborne W. Merchant, John Merchant, John N. Simpson, John T. Berry, and S. L. Chalk—met with H. C. Whithers, the Texas and Pacific track and townsite locator, and arranged to have the railroad bypass Buffalo Gap. They agreed that the route would traverse the northern part of the county and consequently their own land, and that a new town would be established between Cedar and Big Elm creeks east of Catclaw Creek. C. W. Merchant apparently suggested the name Abilene, after the Kansas cattle town.

After the Texas and Pacific arrived at the site in January 1881 the railroad promoted Abilene as the "Future Great City of West Texas." J. Stoddard Johnston and other railroad officials platted the townsite. Several hundred people arrived in Abilene before the sale of town lots and began to establish businesses and a church. The lots were auctioned on March 15, 1881; in two days buyers purchased more than 300 lots, and Abilene was officially established. On January 2, 1883, the residents voted to incorporate, and in an election held on October 23, 1883, Abilene became the county seat. By 1890 the city had a population of 3,194; twenty years later the number of residents was 9,204.

In slightly more than 100 years Abilene developed from an almost entirely agricultural economy to a diversified economy based on oil, agriculture, commerce, light manufacturing, and service. World War II was the watershed for the city's growth and economic development. The initial and most obvious drawback to Abilene's economic development was a lack of water, since the normal annual rainfall is only 23.78 inches. The city excavated Lytle Lake (1897), Lake Abilene (1919), Lake Kirby (1927), and Lake Fort Phantom Hill (1937) to assure a municipal water supply. Local farmers were urged to diversify their crops in order to protect both themselves and processors in Abilene from losses due to weather, pests, price fluctuations, and other causes outside their control. The city began holding fairs in 1884 to promote the region's agricultural products. Severe droughts in 1909–10 and 1917–18 and the decline of farm prices in the 1920s and 1930s retarded economic growth.
Since prosperity depended also on adequate transportation, civic leaders vigorously sought additional railroad connections and succeeded when the Abilene and Northern and the Abilene and Southern railroads provided north-south connections in the early twentieth century. Efforts to attract the Santa Fe Railroad to Abilene failed. Internal transportation improved with the establishment of the Abilene Street Railway (called the Abilene Traction Company after 1919), which ran streetcar lines from 1908 to 1931. Abilene Electric Light and Power began operation in 1891; a private telephone service began in 1895. City water and electricity were combined in one firm, Abilene Light and Water Company, in 1905. West Texas Utilities was organized in 1923; the gas operations were acquired by Lone Star Gas.

The modern era began for Abilene, as for the rest of Texas, with World War II. The acquisition ofCamp Barkeley, a United States Army post, in 1940 changed the demographic composition, urban landscape, leadership, and outlook of the town. One and one-half million soldiers who spent some time at Barkeley and at the air base at Tye (established in 1943) infused millions of dollars into the local economy. After World War II civic leaders aggressively sought an air force base to maintain the flow of federal dollars, and Congress approved the establishment of Dyess Air Force Base in 1952. In the early 1960s Nike and Atlas missile installations and launching sites were built near the city, but they were phased out within three years.

The oil industry, including the development of exploration, drilling, refining, and oilfield service industries, expanded significantly after World War II. Manufacturing plants increased from 111 in 1979 to 145 in 1982. Parallel expansion occurred in banking, construction, and retail and wholesale business. Service employment expanded dramatically, as it did statewide. Per capita income remained well below the state average until 1950, when figures reflected an 89 percent increase; afterward it approximated the state figure.
In 2010 Abilene had twelve commercial radio stations and one public one, four television stations, and a newspaper—the Abilene Reporter-Newsthe oldest continuously-operated business in the city. Abilene improved its municipal airport in the 1960s and has been served by major carriers and commuter lines.

The population rose from 10,274 to 23,175 between 1920 and 1930. Between 1940 and 1950 it increased from 26,612 to 45,570, and then doubled in the following decade to 90,638. In 1988 the population was 108,157; in 1990 it was 106,654. In 2000 the population grew to 115,930. As in most of West Texas, Anglo-Saxon Protestants predominate in Abilene. Since the first census in 1890, the percentage of whites, including Hispanics, has been 80 percent or above. The 2000 census revealed 8.8 percent black and 19.45 percent Hispanic population. The population was 117,063 in 2010.
Although Abilene began its existence as a rowdy frontier town and shipping point, the citizens quickly founded schools and churches. The first class graduated from Abilene High School in 1888. Black children attended a separate school, founded by their parents in 1890, until they were incorporated into the Abilene school district. The Woodson elementary and high schools were built for black students in 1953 but were closed in 1969 in the general movement to integrate schools. A second high school, Cooper High, opened in 1960. In the early twenty first century Abilene had two school districts, Abilene Independent School District and Wylie Independent School District. Wylie ISD included elementary, middle, and high schools. Abilene ISD had five high schools, including a medical magnet program, as well as four middle schools and fifteen elementary schools. Early in the twentieth century private schools were established; the longest-lived of these was St. Joseph's Academy, founded by theSisters of Divine Providence in 1916. St. Joseph's (later called Central Catholic) educated hundreds of students before it closed in the 1960s. The Episcopal Church opened St. John's School in 1950. Abilene sought and acquired a Baptist college, Simmons College (now Hardin-Simmons University), in 1891. Abilene Christian College (now Abilene Christian University) first opened as Childers Classical Institute in 1906. McMurry College (now McMurry University), a Methodist school, opened in 1923. Cisco Junior College began offering courses in Abilene in the 1970s. In 2010 Abilene also had the Texas Tech University Health Sciences Center and Texas State Technical College West Texas.
The dominant religious groups in Abilene have been Baptist, Church of Christ, and Methodist; Presbyterians, Lutherans, Episcopalians, Disciples of Christ, and Catholics have been present in smaller numbers. From the beginning, there was an attempt to tame the frontier and make Abilene a town congenial for rearing families. The initial efforts to abolish saloons were successful in 1903; the city was legally dry until 1978, when a fiercely contested election to legalize the sale of alcoholic beverages barely succeeded. Abilene had already been bracketed by two wet communities—Impact and Buffalo Gap—since the 1960s. Until the 1930s virtually all local charity was conducted by the churches; they sponsored and funded day-care centers and nurseries and programs for elderly citizens, civic improvement, disadvantaged youth, and disaster relief. For decades churches provided the principal arena for women's community involvement. This religious environment has been reinforced by the presence of the three church-related colleges. By the early twenty first century there were more than 100 churches in the city.
Cultural interests are reflected in the profusion of dramatic clubs, Chautauqua circles, community bands, and literary guilds. The first social and cultural organization for women was founded in 1883; the City Federation of Women's Clubs dates from 1898. The women's clubs were successful in establishing the Carnegie Library, which opened in 1909. The original building served the city until the 1950s, when it was razed to make way for a new library building. In the 1960s citizens approved bonds for the construction of the Abilene Civic Center and the Taylor County Coliseum. The Abilene Philharmonic Orchestra gave its first concert in 1950. Active little-theater groups, ballet companies, a civic chorus, an art museum, a community band, and an opera association support the fine arts.
In the 1930s Abilenians enjoyed polo and horse and auto racing at Fair Park. In 1946 individuals invested money to fund a professional baseball team, the Abilene Blue Sox. The club, an affiliate of the Brooklyn Dodgers, boasted a .708 winning percentage in 1946. The Blue Sox operated until 1957. In 1981 the LaJet Classic at Fairway Oaks Golf and Racquet Club was added to the PGA tour. Popular recreation areas near Abilene are Fort Phantom Hill Reservoir and Abilene State Park. Abilene has public swimming pools, art galleries, a zoo, and numerous city parks. The West Texas Fair & Rodeo attracts large crowds to the city annually.
At its incorporation Abilene adopted a mayoral form of government and elected Dan B. Corley first mayor. In 1911 the city changed to a home-rule charter that provided for a mayor, four commissioners, and several city offices. Since 1947 it has had a city-manager form of government. For the last several decades Abilenians have generally favored Republican candidates in national elections.
In 1959 Abilene made extensive improvements to the downtown area. But major population movement in the 1970s and 1980s, spurred by the location of Cooper High School, the Mall of Abilene, and Fairway Oaks, was south toward Buffalo Gap. Most commercial establishments left downtown Abilene. The ruins of Fort Phantom Hill, north of Abilene, and Buffalo Gap Historic Village, south of the city, are the major historic sites nearby. Abilene also offers a variety of art and history museums, including The Grace Museum, Frontier Texas!, the National Center for Children’s Illustrated Literature, and the 12th Armored Division Memorial Museum.

BIBLIOGRAPHY: 
Abilene Convention and Visitors Bureau (http://www.abilenevisitors.com/), accessed May 13, 2014. Fane Downs, ed., The Future Great City of West Texas: Abilene, 1881–1981 (Abilene: Richardson, 1981). Katharyn Duff, Abilene . . . On Catclaw Creek: A Profile of a West Texas Town (Abilene, Texas: Reporter Publishing, 1969). Katharyn Duff and Betty Kay Seibt, Catclaw Country: An Informal History of Abilene in West Texas (Burnet, Texas: Eakin Press, 1980). Paul D. Lack et al., The History of Abilene (Abilene, Texas: McMurry College, 1981). Juanita Daniel Zachry, Abilene (Northridge, California: Windsor, 1986).