Why Should You Get Flood Insurance in Granbury?
In the United States, the average price of flood insurance, nation-wide, is around $600 per year. There are major differences in those prices depending on the state and flood zone in which you live. And there are even certain areas and flood plains where, in order to get a mortgage, you are likely going to be required to purchase flood insurance.
Flood Insurance for a Mortgage
Many areas within Texas are Flood Zone A. Flood Zone A means that your mortgage company will require flood insurance on your new home. When purchasing your home, your REALTOR will let you know if flood insurnace is required. Your mortgage broker will be required to include your first year of flood insurance on your closing statement.
- But what if you aren’t required to have flood insurance?
- Should you spend that extra money every year to have that insurance? What if the area you have lived in has never flooded?
- What if you do take out a flood insurance policy and live in your home for 35 years, and it never floods?
- What if, what if, what if?
These are all questions to consider. It’s pretty much guaranteed that you’re going to have to have a Homeowner’s Insurance plan, which unfortunately is not going to cover water damage from a flood. And even more unfortunately, flood damage can cost tens of thousands of dollars, and possibly more depending on the level of destruction. How much water, how long was it in the...
DONT LET MICE DERAIL SELLING YOUR HOME
Selling a home infested with mice is not a pleasant experience for anyone, well besides the mice. Imagine the perfect, approved Buyer comes in and a couple of mice scurry past, deal off! Also, if found during an inspection a costly remedy will be required, and a financial burden on the seller.
MICE, MICE, Oh My!
Homeowners experience an increase in mice as unwelcome house guests during the Fall and Winter, but here in Granbury it can be a year-round occurrence. Homes in Granbury have a much higher chance of infestation than homes in other parts of the country. In fact many homeowners do not even know the little critters have set up house until it is too late for a simple mouse trap to do the trick.
Just during the winter months alone, mice and their other rodent counter-parts will share a home with an estimated 21 million homeowners in the United States. Typically, mice are looking for food, shelter from the elements (hot & cold), and water. The extreme summer heat in Texas will send the mice into homes thirsty, hungry and looking for a cool place to nest. Mice populations increase at an alarming rate, especially when they are nice and cozy inside a homes walls and/or attic space.
Mice Will Find A Way
If you have ever noticed mice droppings on top of things, and thought to yourself “how in the world did they get up there?” well, you would...
Take a Whiff Before You List
If you are planning to put your home in Granbury on the market, you have most likely looked around for things in your home that need cleaned and repaired. You have freshened up your landscaping and added color to your curb appeal. As diligent as you have been in getting your home ready, be sure you did not overlook the smells that linger in your home just from your day to day living.
Odors that buyer’s find most offensive:
- Litter boxes
- Strong Air Fresheners/Candles
- Lingering Smells Of Certain Foods With Strong Spice Odors
- Tobacco Smoke
- Garbage Not Removed From The Home
- Gym Equipment Left Out
- Dirty Laundry
- High Efficiency Washers That Begin To Smell
How Can You Eliminate These Odors:
You should consider having pets kenneled or at the least, removed from the home during showing appointments. Keeping dogs bathed and carpets cleaned to remove the smell of your furry friends. Move litterboxes to an exterior area, but if you cannot do that, then change the litter daily. Consider using a more expensive type of litter and litter box that ensures to control odor from your felines elimination.trong Air Fresheners/Candles
Just do not use them. Home buyers can tell when a strong scent of these air fresheners...
Nationwide Study Ranks Texas #1
According to U-Haul migration trends reports, Texas is the #1 growth state for 2016. With U-Haul being the company that provides transportation for people moving and relocating, they have an undeniable interest in understanding the trends for where people are moving to. This is great news for Texas Real Estate with a spotlight on Granbury homes.
Big Moves for Texas
The state of Texas has become much more popular destination since 2015 when they ranked number 39 on the same U-Haul report. When looking at year over year U-Haul truck rentals coming into Texas they have risen 4% since 2015. What makes the statistic even stronger is the fact that departures leaving Texas stood steady; showing a pretty dramatic influx of new homeowners into Texas.
How U-Haul Calculates
The states that make it to the top of the list are the ones that show the largest net gain of one way truck rentals in the state, as opposed to leaving the state. These statistics are gathered from at least 1.5 million one way truck rental transactions yearly. It is acknowledged that the migration statistics may not directly correlate to population growth, but is utilized as a very effective metric of how well cities are attracting new homeowners.
Texas Cities That Moved The Needle
Thanks to areas such as ...
5 Tips For First Time Homebuyers
Possibly one of the biggest decisions you will make in your life is buying your first home. It can be daunting, and you may feel like home buying is in an entirely different language. Escrow, interest rates, down payments, HOAs, credit scores, pre-approvals… It can be a bit overwhelming. But fear not, you’re going to go in to this process prepared. Let’s assume that you clicked on this article because you have made the decision to purchase a home—that’s obviously the first step. But now what? Here are 5 tips you should consider before you purchase your first home.
1. Work on your credit score.
There are plenty of websites nowadays that will tell you your credit score for free. Take a look at it preferably a year before you want to purchase a home, so that you have plenty of time if things need improving. Most lenders want to see your credit score above 700, so definitely aim for that. And remember, the better your credit score, the more likely you are to get a much lower interest rate. And who doesn’t want to save tens of thousands of dollars?
Helpful tip: If you feel like your credit score is good enough to being looking for your perfect home, it’s a great idea to get a lender to pre-approve you before you start shopping—this will both let the realtors and sellers know you’re serious, and give you a general idea of what the bank thinks you can afford. To get pre-approved, lenders will verify your employment, income, and credit.
2. Know what you can afford.
Remember how I recommended you to get pre-approved? Well the bank is going to figure out how much you can afford based on what you earn and how many other debts you have....
Things NOT To Say When Selling Your Home
Everyone who is trying to sell a home is typically wants to do it as quickly as possible. As a seller, you and/or your qualified real estate agent should be aware of all of the items required by law that must be disclosed to buyers. These things, depending on the state you’re in, can include your flood zone, whether the house has lead paint, previous improvements or renovations, termite problems, and more. But what you should also know, is what not to disclose.
“We love this house, but…”
Stop right there! No matter what you insert into the end of that sentence, your potential buyers don’t need to hear it. This statement puts doubt into their minds, makes them see problems that they might not have noticed before. Bottom line, it can be detrimental to that sale. What might you say here that is not good?
Go ahead, just fill it in: -We love this house, but there’s just not enough storage space.
We love this house, but our family has outgrown it/we’re getting a divorce/my spouse died.
We love this house, but it isn’t close enough to good schools/the city/work/shopping/etc.
We love this house, but we always wanted to change the layout/the size/the closet space/the kitchen/etc.
We love this...
Elevate Realty Group recently had their grand opening for their new cutting edge real estate office. Because of their incredible growth and to better serve their clients, Elevate Realty Group has moved all of their real estate services to the center of Granbury.
The grand opening of their new cutting edge facility took place on October 20th and was a huge success. With all of Granbury’s top real estate agents in attendance, Randall Luna was able to showcase the new facility.
Elevate Realty Group’s brand new office space located at 103 Corporate Dr. in Granbury Texas. This new space is the next step in the real estate market domination of Elevate Realty Group. The new office features an incredible location coming into Granbury just south of HEB and Kroger.
The agents, owners and clients of Elevate Realty group are enjoying the more than 3000 sq ft of elegant modern offices, spacious open concept conference room and warehouse space with a state of the art real estate sign shop. The Granbury stone double door building is accented with the already legendary Elevate lime green color. Randall Luna and Dana Allen invite everyone to stop by our new location to talk to us about listing your home or allowing one of our incredible buyer’s agents to find the perfect place for you!
Elevate Realty Group is the fastest growing real estate brokerage in Granbury. Slated to produce over 50 million dollars in real estate sales...
Selling Your Home FSBO - 5 Things To Prepare For
It’s hard to put everything associated with selling a home into priority, as to what thing is more important than the other… they are all very important. Selling a home is complicated and requires extensive knowledge of real estate laws, negotiation techniques, and common local sales practices. It also requires the skill and expertise to deal with unexpected bumps and turns as the sale progresses from start to finish (and if you don’t think unexpected bumps and turns will happen, well, you are either just unaware or possibly deluding yourself). It’s important to know that, even after a home sale closes, mistakes can come back to haunt you. Any error made when selling a home can surface weeks, months, or even years after the deal closes. Lawsuits are extremely common in real estate, and frequently, they aren’t the cheap kind. Realtors are trained extensively in how to deal with problems, or even better, how to prevent them; they also have the supervision and assistance of their experienced Manager or Broker to help them when any of the usual or common turbulence arises in just about every home selling transaction. Owners who intend to self-represent their own sale (For Sale By Owner, or FSBO for short) take risks that they are largely unaware of and frequently expose themselves to problems, including...
Smart Home Technology
It always amazes me how quickly a new technology gets adopted and quickly becomes a necessity and expected in our daily lives. “Smart Home Technology” is one of those new things that are quickly becoming commonplace.
According to a recent survey by a nation-wide real estate franchise of US adults, 71% of home buyers now expect a home to be “move in ready”. Of those home purchasers, 44% think that “move in ready” should include Smart Home Technology. In addition, 57% of that group said they would consider an older home if Smart Home Technology had already been installed.
It appears that luxury home buyers are much more interested in Smart Home Technology than the general homebuyer. For some, it can be a deficit for a home for sale if smart tech is not already installed. It appears that Smart Home Technology has become to be an expected feature in the luxury market. For people looking to purchase a luxury property, they feel that if the home doesn’t have some sort of Smart Tech, the home seller has cut corners.
The Level of Expectation
Much of this level of expectation has been set by people traveling to five-star hotels where they experience Smart Home Technology and come to expect those features in their home buying process. With many high end hotel rooms, office spaces and even airplanes having Smart Home Technology; it has become an expected feature in the Luxury Property market. Although Smart Home Tech was seen in ultra-expensive homes in the multi-million dollar range years ago, many now expect those features included in homes starting at $750,000. It is expected...
Granbury Tx is full of incredible subdivisions that are in the center of one of the greatest real estate markets in the country. With many of the subdivsions within the city of Granbury haveing differnt amminities, we wanted to give a brief discription of many of the most popular neighborhoods in Granbury.
Abe's Landing started out as a privately owned ranch operation. The old Abe's Landing homestead house still remains in the subdivision! Story has it that Abe's Landing was the point at which people on each side of the river would meet and "Abe" would ferry them back and forth across the river. Today, Abe's landing is on the finest examples of a planned community in Granbury. Newer homes priced from the mid $200s are located inside the front gate and as you move back toward the waterfront, home prices increase into the $700s.
See All of the Homes for Sale in Abe's Landing.
The waterfront community of Canyon Creek is very unique and rustic! Most of the waterfront properties have deep water at their shores as this community sits right on the main river channel. Canyon Creek waterfront is truly unique in that the south bank shelters the lake from the wind, making this smooth waterfront the ideal place to wakeboard.
See all of the Homes for Sale in Canyon Creek
DeCordova Bend Estates
This private neighborhood of DeCordova Bend Estates is one of the original planned...
Five Conservation Measures to Consider Before Installing Solar Power
Installing solar power should be the last step a homeowner takes to make their home energy efficient. Solar power for homes is being marketed very aggressively in many parts of the world as a way to reduce rising energy costs. For most homeowners there are many efficiency measures that will provide a much larger return on investment.
If you haven’t replaced those old incandescent bulbs in your home, start now. The price of LED bulbs has dropped dramatically over the past year and standard bulb sizes can be found in the $3-5 range. A 60W equivalent LED uses only 8-12% of the power that an incandescent bulb uses and about half the power of a compact fluorescent. The return on investment is dependent on the habits of the homeowner, but in many cases the simple payback is less than one year, meaning that within a year the LEDs will pay for themselves and the remaining savings are money in your pocket. Add to this the fact that LEDs can last 40X longer than an incandescent and the decision should be easy.
Heating and cooling account for 50% to 70% of the energy used in the average American home. If you want to substantially reduce energy costs, decrease the amount of energy needed for heating and cooling your home. Proper Insulation reduces average home heating and cooling costs by about 20%. Older homes will benefit more from proper insulation than newer homes, but unless your home was built with a strong emphasis on efficiency, adding insulation will probably reduce your heating and cooling expenses.
In a well-insulated home, a barrier is created between all conditioned...
Granbury is Hot - But The Real Estate Market is Hotter
We all have to deal with the heat in Granbury during the dog days of summer. There is another aspect of the summer that residents of Granbury can truly enjoy…Granbury’s real estate market is on fire! The price of homes selling in the North Texas real estate market have hit an all time high in June with more homes being sold than ever.
Record Breaking Real Estate Market
For all of North Texas, over 10,500 homes were sold; that is 7 percent higher than the same month last year, which was the previous record. The second half of 2016 has proven to beat another record by increasing home sales by over 9 percent from the first half of the year.
With only a slight increase in homes for sale, but substantially more demand with the number of sales increasing by 7 percent and the median price increasing by 8 percent, if you are looking for homes for sale in Granbury, you have a lot of competition. The average days on market, which shows how long it takes after listing a home for sale until it goes under contract, has decreased 8 percent since the same time last year, with pending real estate sales increasing by 20%. Although this is for the entire North Texas region, Granbury real estate has proven to outpace the averages.
Ted Wilson with Residential...
How To Mess Up Getting Your Dream Home
If you are like many homebuyers, you will fall in love with at least one home. You will know it as soon as you cross the threshold...this is the one for you. Sometimes, specific actions that a buyer does can substantially hurt your ability to actually close on the home of your dreams.
Lowballing a First Offer
Many homebuyers and even some investors, think it’s a good idea to start the bidding process with a low-ball offer. I have heard hundreds of reasons buyers think that starting with an offer 30% below the asking price is a great idea. Let me tell you that almost NEVER works out to your advantage and can keep you from getting the home you really want. I have heard buyers say, “You can’t go down, but you can go up” or “you never know unless you ask”. Both of those are true in the statement itself, but works very poorly in the negotiation of a home. Don’t get me wrong, if the home is substantially overpriced; then yes… give an offer that is reasonable for the current market. Selling a home is an emotional event. People have lived their life in the home that they are selling. They may have raised their children there. They may have watched their child take their first steps in that living room. If you offer an insultingly low offer, most sellers will become personally offended. Once they have become offended, they don’t like the idea of you being the person that will use their shower every day. Yes, I know…you will own the house and they will get their money, but these things matter to a lot of people and many people are less likely to WANT you to buy their home. If you really want to get the best price on a particular home, you should use...
Get Downpayment Assistance For Your Next Granbury Home Purchase
The SETH 5 Star Texas Advantage Program is designed to help homebuyers with down payment and closing costs when purchasing a home in Granbury Tx. This program provides up to six percent (6%) of the loan amount for use as a down payment or for assistance with closing costs. All mortgages are fixed rate, 30 year mortgages. All homebuyers that would like to take advantage of the downpayment assistance must live in the home and occupy it as thier personal residence. This program may be combined with other local down payment asssitance and mortgage credit certificate (MCC) programs.
Some of the features and stipulations of the new hombuyers program are:
- No "first time homebuyer" requirement
- No repayment expected for any assistance recieved by by the SETH program
- Maximum sales price of the home cannot exceed FHA maximum of $274,050
- Exclusions for the program are: El Paso, Grand Prairie, McKinney and Travis County.
- All homebuyers must meet income requirements, determined by the location of the home.
How it Works
- FHA Option 1 offers a 6% Grant - $150,000 X 6% = $9,000 worth of down payment assistance
- FHA Option 2A offers...
Granbury Real Estate Statistics for June
Real Estate Statistics give a tremendous amount of insight on strength of the local market. There are many ways to look at and derive real estate statistics, so it can be challenging to compare market research that is derived by different people. At Elevate Realty Group, we review Granbury market statistics each month in the same manner so we can easily provide accurate insight on the current state of Granbury Real Estate. For additional information on real estate statistics, read our article here.
Active inventory is simply the total count of active homes for sale in Granbury. When housing inventory drops, that generally shows an increase in demand for homes and indicates moving towards a “sellers market”. Current Active Inventory is DOWN in Granbury 16 percent from the same time last year and 2 percent from the previous month. Generally, year over year statistics provide the best insight because of the cyclical nature of real estate sales.
Median Listing Price:
The median listing price looks at all homes currently listed and finds the center price point. This is generally a better metric than average list price because if a very expensive home gets listed (or some very inexpensive homes) it can skew the statistic dramatically. The median sales price for Granbury homes...
Pricing your Granbury home to sell fast and for the most money is not an easy task. Time and time again, we see home sellers taking the wrong route. We will lay out our proven process for pricing your home to sell fast.
The first step in getting your home sold fast is doing research. The best, most accurate place to get research done is by accessing the MLS or Multiple Listing Service. This is the database of all active and sold homes and is the same database that real estate agents and appraisers use. Although many local real estate broker websites can provide the active homes for sale, they won’t show you the recently sold properties. You will need to contact a real estate agent to gain access to the recently sold "comps" or comparable properties. DO NOT rely on Zillow or any other website for accurate sold data.
Active Homes For Sale
Current active homes for sale that are in your neighborhood or in your general price range are an important factor in pricing your home. Although the active homes for sale are important, it may be for a different reason than you are thinking. These properties are NOT what you use to base your home's price; these are the homes that are your competition. It’s important to understand what you will be up against. Keep in mind, for the potential home buyer, these are the other...
Purchasing a home is a huge investment. Making sure that what you purchase is in the condition you expect is an important part of the home buying process.
In my younger days, I always seemed to be broke. Every time I bought a used car, I always ended up getting a raw deal, overpaying for a car that inevitably ended up having problems that emerged after the purchase. This is partially what lead to my lifelong disdain for used car salesmen (I say that because I’ve never bought a car from a saleswoman. Just coincidence, I guess). It wasn’t until I was older that I understood the importance of having a used car inspected by a mechanic before buying. Now, a car is a pretty important purchase. You’re going to spend a lot of time driving it, and if it breaks down somewhere, you’re going to be pretty unhappy. So knowing what I know about having important purchases inspected before buying, I’m amazed how many times I hear about home buyers who buy a home without having a professional inspection.
Getting Your New Home Inspected
Why should you have your home inspected? Well, on the surface, that sounds like a silly question, at least to me as a REALTOR. It stands to reason that just about anyone who is making one of the biggest purchases of their life would recognize the importance of spending a few extra bucks to make sure the home they’re buying is safe and free of problems and costly repairs. But it happens all the time. There is a amazing host of hidden problems that a home can have, most of which can easily slip past the eye of an untrained...
With all of the waterfront homes and beautiful Lake Granbury, Granbury relies heavily on water for its overall economy. Granbuy real estate is tightly intertwined with with water and the lake makes up a large portion of our lifestyle.
With all of the talk about the situation in Flint MI, where the drinking water appears to be contaminated with lead, the Granbury drinking water goes through a vigorous process to be purified before being distributed to the community for everyday use.
Granbury's Water Purification
The city of Granbury Tx public works division is responsible for the purification and distribution of the water supply for Granbury. The program for waist water treatment is officially refereed to as:
The purpose and function of the Wastewater Treatment Department is to receive and treat the spent water from a community containing the wastes from domestic, industrial, or commercial use, as well as the surface water runoff and groundwater which may enter the system through infiltration.
Buying Waterfront Property
You may be able to upgrade and improve your house, but it’s unlikely you can upgrade or improve its location. This is one of the main reasons that waterfront property is so expensive. Everyone knows the old saying, “Location, location, location”; but when it comes to waterfront property, location almost the only thing that matters. Althogh you will almost always pay a premium for a waterfront home, Lake Granbury homes are more affordable than most.
Mortgage Lending and the Real Estate Market
For the better part of the last ten years, the Texas real estate market has seen some wide swings and some big changes. In the years following the bursting of the real estate bubble in 2007, the housing market has been downright crazy. To use a psychiatric analogy, it’s been rather “bipolar”, if not downright “schizophrenic”. Its bipolar characteristics include wide swings from one extreme to the other, and its schizophrenic qualities include an apparent detachment from reality, sensibility, and an inability for many people to relate to it. While a variety of factors played into the historic decline, mortgage lending played the largest role in the market’s fall and subsequent painful recovery.