Tag Archives: house buying traps

Largest Bump in Home Prices Since 2006

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Largest Bump in Home Prices Since 2006

Home prices nationwide, including distressed sales, increased year-over-year by 8.3 percent in December, the largest bump in home prices since 2006 and the 10th consecutive monthly increase in home prices nationally, according to analysts at CoreLogic.

Looking month-over-month, including distressed sales, home prices increased by 0.4 percent in December 2012 compared to November 2012, according to the December CoreLogic Home Price Index report released Tuesday.

Home prices in the Dallas-Fort Worth Metroplex have followed a similar track. The National Association of Realtors on Monday will release its fourth quarter metro area home prices report, which will provide specifics for the DFW market.

“Demand for housing will remain strong through 2013,” writes Robbie Briggs, CEO and president of Briggs Freeman Sotheby’s International Realty, in the latest edition of his quarterly “Robbie Report.” “The supply of homes is tight in Dallas, which should signal good price appreciation.”

Indeed, the CoreLogic analysts say home prices should continue to climb in 2013.

“We are heading into 2013 with home prices on the rebound,” said Anand Nallathambi, president and CEO of CoreLogic. “The upward trend in home prices in 2012 was broad based with 46 of 50 states registering gains for the year. All signals point to a continued improvement in the fundamentals underpinning the U.S. housing market recovery.”

The analysis is based on MLS (Multiple Listing Service) data.

Source: Update Dallas

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Amazing Custom Home in Tour 18 Golf Course Community!


Amazing View & Custom Home In Tour 18 Golf Course Community!


Overview
Maps
Photos
Description
Neighborhood
Market Stats

$1,225,000
Single Family Home
Main Features
5 Bedrooms
6 Bathrooms
1 Unit
Interior: 5,739 sqft
Lot: 1.62 acre(s)
Location
5801 Lighthouse Drive
Flower Mound, TX 75022
USA
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Jim Striegel

Jim Striegel

(972) 899.0634
JStriegel@Realtor.com
http://www.JimStriegel.com

   

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Home Decorating On A Budget

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Do you wistfully look at design magazine and hope for a beautiful home like the ones featured there? If you thought home decorating is only about spending the big bucks, you were wrong. With a little bit of planning, creativity and patience, you can work wonders by decorating on a budget

Let not small spaces, rented lofts and limited budgets restrict you. Pick up a few useful tips on decorating on a budget and you can camouflage, recreate and work wonders on your home. You can become the proverbial genie and wave the magic wand over your old and depressing décor.

 

Home Decorating Budget

 

Any home decorating starts with listing out your needs to see what you need to spend where. There will some areas of the house that may need special attention. The kids’ bedroom may need sprucing up to accommodate their growing requirements. The kitchen may be in dire need of a facelift. Does your living room lack personality? Peruse our simple tips to make your house look like your dream house without creating a budgeting nightmare. Place gaily-colored rugs and mats to liven up the room. Play around with color and texture. Add valences to the windows. Bring out the unused sheets and quilts from the linen close and use them to add color and energy into a room.

 

Scout around for little pieces such candles, potpourri, bric-a-brac, figurines and other simple articles that you can put on your mantelpiece or display unit. Take decorating tips and inspirational ideas from furniture showrooms and décor magazines. Second hand stores can be a treasure trove of furniture pieces. With a bit of polishing and retouching, you can get yourself some elegant furniture items. You may be able to pick great bargains during clearance sales. Furniture from scratch and dent rooms can be reworked and made to look as good as new. 

Thrift stores and garage sales can surprisingly throw up some cheap furniture and accessories that can be turned around with nimble fingers, be it a beat up coffee table or old rocking chair. Work up a good blend of patterns – one that is not too overpowering but one that lends a cozy feeling to any space. While dark floors create a feeling of a smaller corner, lighter flooring will lend a feeling of expanse.

 

Kitchen: The best way to give your kitchen a new look is to work on the cabinetry. You can clean and paint the doors for a new look. Change the cabinet doors if necessary and budget permits. Alternatively you can remove the doors of a few cabinets and turn them into display units. Paint the interior of the cabinet a bright shade and put your crockery on display. Paint or paper the walls. You will be surprised at the change it can bring to your kitchen space. A coat of rich wall color and your kitchen will look spanking new! Add fabrics such as gay prints, pretty florals or staid stripes to enliven the kitchen. Pretty laced curtains billowing at the kitchen window look fresh and. charming Grow plants on the windowsill for a cottage-like feel.

Living Room: Put up new curtains and slipcovers. Work your furnishings to give your living room a new look. Get a new shade for the old lamp. Look at simple details such as a new tablecloth for the dining table. Positioning of the furniture is very important especially if you have a large living room. It is better to divide the room in two or three separate seating areas. This provides cozy seating areas where you can entertain small groups easily.

Bedroom: Make your personal space your private haven, a place to relax and refresh yourself. You don’t need expensive bedspreads and comforters. Look for good bargains and pick trendy fabrics and embellish them suitably with lace and trimmings. Try and create storage with chests of drawers and closets.

 

Holiday Decorating on a Budget

With the festive season in the air, do not despair about expensive decorations and ornaments. You can get your creative ideas flowing for simple holiday decorating, one that will not burn a hole in your pocket. What is most essential is to lend the house a cheerful festive spirit. Use houseplants and foliage to best advantage. Make simple wreaths to add a breath of fresh air. Work on decorating the fireplace mantel or the corner curio shelf, and you will find the difference it makes to the entire room. Set candles of different heights in the center of your table. Use seasonal items like pinecones, nuts, evergreen trimmings and fall leaves.

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Simplify The Home Closing Process!

Most consumers are likely anxious to complete the home buying process, so the last thing they want is a last-minute surprise while they’re closing on the house. The closing process is the final hurdle buyers face after they have agreed to purchase the home, but it’s important to be prepared to avoid obstacles that may delay the sale.

There are several ways buyers can ensure the closing process goes smoothly.

Understand the closing procedure

Before entering into closing negotiations, it’s crucial to fully understand the process. By knowing what to expect, buyers can ask appropriate questions and clarify aspects that they may not understand. It’s also to ensure that all parties are kept in the loop. Human error is natural, but details that get lost in the cracks can lead to delayed or canceled home sales, according to MSN Real Estate. For this reason, it is important for buyers to get in touch with the professionals who are representing them to ask about what to expect. Another important step is identifying and gathering all documents that should be brought to closing negotiations.

Review documents

Missed details in loan documents can either lead to mistakes in the paperwork or leave buyers with a product or payment scenario they are unhappy with. Reading loan documents may seem time-consuming, but it’s the best way to resolve potential problems or misunderstandings before they occur. Lenders are required to provide buyers with their loan documents, by request, at least 24 hours before the closing, so individuals should re-read the contents to make sure they know what they’re signing.

In addition, buyers should make sure they have all that they need the morning of closing, including their check. The loan documents should spell out the amount that buyers are required to bring to the closing. In addition, buyers may need to certify the check in order for the lender to accept it. Some buyers may have the option to wire transfer the funds, but this can take longer and delay closing, thus having a check ready may be in the buyers best interest. In addition to the check, buyers will likely need a copy of their photo ID, homeowners insurance policy and good faith estimate, on top of their loan documents.

Source:  Coldwell Banker

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Buying a Home? The COST Is More Important Than the PRICE…

We have often advised buyers to look at the COST of purchasing a house more than the PRICE of the home. Obviously, price is part of the cost equation. The other piece, assuming you are not an all cash buyer, is the mortgage rate. The mortgage rate to finance a purchase can have a dramatic impact on the overall cost. Recently, there are more people talking about the possibility that mortgage rates could begin to increase.

HSH.com studies trends in mortgage rates. They explain:

“A better economic climate almost always brings higher rates, and a lessening of the troubles in Europe from massive central bank assistance adds to the movement of money from safe havens to more risky assets, driving rates upward.”

Dan Green of The Daily Market Reports recently stated:

“The Fed sees growth coming faster than originally expected. There’s suddenly less chance that the Federal Reserve will intervene to help keep mortgage rates low. Absent Fed intervention, mortgage rates are apt to rise and Wall Street is now betting that the Fed has bowed out. With no stimulus, mortgage rates rise.”

Lawrence Yun, chief economist for the National Assoc of Realtors, recently wrote:

“Mortgage rates will be starting to rise. From the 3.9 to 4.0 percent average rate in the past five months on a 30-year fixed mortgage, the new rates will soon be in the range of 4.3 to 4.6 percent.”

Yun explains his logic here.

We do not attempt to predict future interest rates. We leave that up to the experts in the field. However, we want our readers to understand the potential impact on the cost of purchasing a home if they do rise. Here is a simple table that shows, even if the PRICE of a home softens, the COST of a home could increase.

Bottom Line

Many purchasers think they should wait until they are sure that prices have hit bottom. Deciding whether or not to wait should be determined by where the COST of a home is headed.

Source:  KCG Crew

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Mark your calendars for our Laviana of Lantana Open House!

The time has arrived for the “Laviana of Lantana Open House” today & Sunday from 2:00 – 4:00 pm..Food, prizes & More in the Lantana, Texas Community! Take a look at the image for details!

Source: Uploaded by user via Jim on Pinterest

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Buyer Traps To Avoid

Buying a house is a major purchase. Be careful so that you don’t become trapped by expensive mistakes. You want to avoid:

  • Paying more than necessary for the house you want
  • Letting that dream house slip away to someone else
  • Purchase a house that does not suit your needs

With the right information in your hand, you can avoid the common traps that occur when buying a house.

Don’t bid without all the information. Know what price you should offer. Know if the seller is asking too much. Do your research so that you will know the market you are shopping in. If you don’t know the market you are shopping in If you don’t know the market you will be bidding without the necessary information.

Don’t buy the wrong house. Make sure you know what you want in a house. You want to make sure you don’t end up in a house that does not meet your needs. Write down what you want in a house. As you are looking for a house, use your written criteria to see if the house you are viewing measures up.

Make sure the title is clear. Do a complete title search on the house you are interested in purchasing.

Make sure you get an updated survey and inspection on the house. The survey is necessary to know where the property lines are, if any additions have been made to the house or whether the neighbor’s fence is on your property. Enlist an inspector to view the house thoroughly. Make sure the seller makes all repairs that have been agreed upon in the contract.

Get pre-approved for a mortgage. This gives you more freedom when shopping for a house. This gives you the freedom of mind to know that the money is already there when you find the house you desire.

Avoid hidden cost. Make sure you know all of the cost, big and small so that there won’t be surprises at the time of closing.

Closing the deal. Make sure you get a copy of all the paperwork in advance so that you can review it before the closing date. You want to avoid any glitches on the day of closing.

Check about the things that need to be fixed-up. Check on the things in the house that need to be repaired because the owner might forget to mention them. Inspect the house very carefully. If necessary hire a professional inspector.

Read the contract. If the seller does not comply with all of the terms of the contract, this could delay the closing. Make sure there is money in escrow to cover any costs that the seller fails to repair. Do a final walk through with the seller.

The Striegel Team will be behind you every step of the way so that you are well aware of these buyer traps. Contact the Jim Striegel Team today, so you do not fall into one of these traps.

 

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