Posted by Randall Luna on Saturday, November 28, 2015 at 8:54 AMBy Randall Luna / November 28, 2015Comment
Discover everything you've been looking for in this 4-3-2 waterfront home in prestigious Waters Edge. Lite & bright open airy floor plan, island kitchen with breakfast area. Huge master suite with sitting area and luxuriously sized master bathroom. Separate bedroom and bath guest suite and 2 more nicely sized bedrooms that share a bath. Storage galore. Enjoyable covered patio offering long canal view with walkway leading to newer boat dock!
Posted by Randall Luna on Monday, November 23, 2015 at 10:43 AMBy Randall Luna / November 23, 2015Comment
Should I remodel my home to sell?
Selling a home can be a daunting task. There is big money at stake and everyone wants to make sure that they get the most money possible for their home. With many homes on the market and every seller trying to get top dollar for their home, the question arises every day “what remodeling improvements pay off when selling a home”?
Should I remodel my home to sell?
The best real estate agents understand that when a home is put on the market for sale, it’s important to have a persona of the potential buyer in mind. That means think of whom the person that would be the perfect buyer and build you’re marketing around that type of person. Generally speaking, the “perfect buyer” for a particular home will be willing to pay top dollar because the attributes of that particular property brings more value to their situation. For instance, if the home that is being placed on the market is in a great school system, has 4 or 5 bedrooms and a swimming pool, your potential buyer is a family with children in school. When attempting to build the persona of your potential home buyer, you should also consider if they anticipate trying to save some money by purchasing a home that needs some work, or do they want a home that is in pristine condition? All of that being said, you will usually get top dollar for your home if the home buyer wants a home in move in conditon. The next thing you should look at is the compairables in your neighborhood to see what their condition was when they were sold. For instance,...
Posted by Randall Luna on Monday, November 16, 2015 at 12:47 PMBy Randall Luna / November 16, 2015Comment
How Does Interest Rates Affect The Real Estate Market
Most people are aware that mortgage interest rates affect the real estate market. Most people are not aware of HOW MUCH they affect the process of buying a home or selling a home.
Interest rates can single handedly be the most important factor in the viability of the real estate market. We will discuss how mortgage rates affect the home buying process which in turn affects the ability to sell a home.
The Affordability of a Home
Although many people who are looking to buy a home look at the price they paid for that home as the single most important factor in the homes overall affordability. That is generally not the case. When looking to purchase a home, there are many factors that affect its total cost to you and your family:
Price Paid For The Home
Homeowners Insurance Cost
Flood Insurance Cost
Maintenance and Upkeep
Interest Paid on the Mortgage
All of the above factors have an effect on the total price of home ownership.
How Much Difference Does The Interest Rate Matter?
Many people, when looking to purchase a new home, will walk away from a particular home purchase over $5,000 that couldn’t be negotiated. At the end of the day, the rate that you receive on your new home mortgage has a much larger effect on what you will ultimately pay for your home than exceeding your budget slightly. Theinterest rate paid is a major portion of the overall cost of homeownership…but exactly how much? Let’s provide some examples:
Posted by Randall Luna on Monday, November 16, 2015 at 3:20 AMBy Randall Luna / November 16, 2015Comment
Granbury Home Search Criteria Designed to Deter Budget Surprises
Once a Granbury home search gets underway, even prospective buyers who hadn’t hardened up the prices they were aiming for begin to hone in on a target range. Even a cursory excursion into the Granbury listings forces the issue. Anyone who is at all serious about finding a new home sees the correlation between the listed asking prices and ‘how much house’ is available in that range. In most cases, lower prices denote features that are, for one reason or another, not very popular. Higher prices can mean the opposite: top-of-the-line quality… (or an overly optimistic seller).
So once a home search has narrowed the field to the Granbury offerings that meet at least the minimum physical requirements, the lower number of the price range is established. If a realistic family budget shows more to spare, more expensive possibilities can be explored. But first, it’s also a good idea to make at least one revision to those budgetary assumptions, because there’s one area where the actual costs of home ownership can cause a surprise. The particular line item we’re thinking about is the one that, according to the experts, is ‘devilishly hard to predict.’
The maintenance cost.
Devilishly hard or not, the best ballpark figure that can be agreed upon is 1% of a home’s value, every year. When you are contemplating a pristine Granbury property, that may seem to be a wildly pessimistic figure, but it is simply the case that every home requires maintenance. Appliances fail, paint blisters or fades, shingles fly off or break down; things (as...
Posted by Randall Luna on Tuesday, November 10, 2015 at 11:19 AMBy Randall Luna / November 10, 2015Comment
Do I Need Title Insurance
When you buy a new home, you are flooded with options and things that you are told you need to purchase. One common question that comes up in almost every real estate transaction is “Should I Purchase Title Insurance”? Many people don’t have a clear understanding of exactly what title insurance is, much less if it is worth the extra cost in purchasing a home. We will attempt to enlighten you on exactly what title insurance is, what it covers and some of the misconceptions of title insurance and finally, if you should purchase it when buying a new home.
What is Title Insurance?
All properties that get sold have a title. That title shows ownership and transfers to the new owner when a home is sold. The title is generally filed in the local clerk of court as public record. Anytime a home is sold, to be able to verify that the seller is truly the seller, a title search is completed. Once the seller is verified, the home can be sold to the new buyer of the property. A “cloud on the title” means that something was found in the title search that may not let the property be transferred. An example of a cloud on the title would be that 30 years ago, the then owner passed away and left the property to his or her children. Let’s then say that the home was then sold by the children that inherited the property. What if it was found that the now deceased previous owner had another child that was not known at the time and had legal inherited a portion of that property…but the property was sold already! That...
Posted by Randall Luna on Monday, November 2, 2015 at 9:21 AMBy Randall Luna / November 2, 2015Comment
Tips on Selling Your Home – Provide a Home Warranty
This is the first in a series of posts that discuss tips from the professionals on how to sell your home. All of the tips that we will discuss will fall into at least one category:
How fast you sell a home
For how much you sell your home for
How easy the transaction moves towards the closing table
In some instances, you may find that a particular tip may have an effect on more than one category.
Today, we will be discussing utilizing a Home Warranty to sell your home. As a logical step, the first thing is we will discuss exactly what is a home warranty and why does it bring value.
What is a Home Warranty?
A Home Warranty is a product sold by a handful of national companies that provide security on the costs incurred if and when something inside of your home breaks. Usually a home warranty is purchased for a set annual fee and can be renewed every year. Once a home warranty is purchased, if something inside your home breaks, as opposed to calling your local repair man, you would then call the Home Warranty company. The Home Warranty company has established relationships with a variety of credible contractors (usually at a discounted rate) so they then send out someone to repair or replace the broken “thing”. Home Warranties vary by providers and similar to an insurance policy, will have certain stipulations. As an example, if you have a home warranty on your home and your dishwasher were to stop working – you would then call the Home Warranty Company and they would send out a repairman that they have a contract with. In many instances, the repair contractor will be extremely responsive,...