Home Buyer Tips
Changes in the Annual Mortgage Insurance Premiums are set to take affect on April 18th. While it isn't exactly earth shattering in terms of planning for potential home buyers, it does change a borrower's bottom line and, as you can imagine, it will cost you a little bit more.
First I would like to congratulate VCU on their accomplishment this past weekend. I was one of “those” people. I was one of the ones saying they didn’t belong. They were taking a spot that should have gone to someone else. Boy did they prove me wrong!
After watching them completely dismantle Purdue, I reflected on some of the comments I had made earlier in the week and I couldn’t help but think how this story, while it is still in the making, could relate to first time homebuyers.
January brought cold temperatures to the Houston area, but that didn’t stop the Houston housing market from heating up. January saw increases in both sales volume and average prices, with the average price of single-family homes reaching the highest level ever for a January in Houston.
Home ownership, it’s the American dream. But lately we’ve heard so much negative that a lot of people are thinking that this dream is more like a nightmare. Turn on the news, pick up a paper (they still have those things…right?), or glance at your IPhone or IPad and you’ll see plenty of reasons to believe that the dream was just a fairy tale.
In previous posts (we've got links at the bottom for you), we offered a couple of suggestions that would help you beat the competition when buying a home. We discussed earnest money, as well as eliminating contingencies. In most instances these strategies will work, but what if they don’t fit your needs?
October 6, 2010
The Texas Attorney General Greg Abbott has sent a demand letter to 30 banks asking that these institutions immediately “suspend all foreclosures, all sales of properties previously foreclosed upon, and all evictions of persons residing in previously foreclosed upon properties” until these institutions have reviewed files and taken appropriate steps to rectify possible past errors in documentation. This is in response to certain employees engaging in “robosigning” of documents.
September 30, 2010
August 27, 2010
Flood insurance has been a hot topic in real estate this year. I know that most have not heard too much about it. The headlines have all been about the recession, foreclosure rates, plummeting home values, and high unemployment. The National Flood Insurance Program has been allowed to lapse several times this year leaving all Americans in a bind, not just those in a flood zone. We currently are set through September 30, and an extension of the program is likely without a lapse, but there are no guarantees.
Since the original post below, the Federal Housing Administration has decided to postpone the changes until October 4, 2010. Premium fee changes will apply to all new case numbers as of that date. This postponment will give lenders time to implement and test their systems prior to the changes taking effect. Stay tuned for more updates and call if you have any questions. We're always here to help.
August 9, 2010
The House has approved a plan to give homebuyers an additional three months to finish qualifying for the Homebuyer Tax Incentive. This extension should not be confused with the extension granted to members of the military who may not have been able to take advantage of the credit before the deadline because of their duty. Those who qualify for that extension have until April 30, 2011 to place a contract on a home and must close the transaction before June 30, 2011.
All information in this site is deemed reliable but is not guaranteed and is subject to change.
The information herein is furnished by the owner to the best of his knowledge, but is subject to verification by the purchaser, and agent assumes no responsibility for correctness thereof. The offering is made subject to errors, omissions, change of price, prior sale or withdrawal without notice. In accordance with the law, this property is offered without regard to race, creed, national origin, disability or gender.