Buyers

A Millenials Guide

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The saying “If you fail to plan… then plan to fail” is never truer than when you are buying or selling one of the largest investments you make.

We have put together the best comprehensive guides for you, whether a first time home

 buyer, a buyer who has purchased more than one home in the past or someone who is planning to sell now or in the near future. They are to help educate and to inform you & our clients about things to consider when making your next move. We update these guides 4 times a year so you have up to date information because “Keeping Current Matters”! 

CLICK BELOW For YOUR SPECIFIC FREE GUIDE

A Millennial’s Guide to Homeownership

The “Millennial Guide” is a content-packed guide that offers our clients info to simply and effectively explain the market’s current homeownership opportunities to a booming demographic that often finds itself stuck in the “rental trap” for renters. 

Buyers Guide

Get Your FREE GUIDE NOW

The saying “If you fail to plan… then plan to fail” is never truer than when you are buying or selling one of the largest investments you make … a home.

We have put together the best comprehensive guides for you, whether a first time home buyer, a buyer who has purchased more than one home in the past or someone who is planning to sell now or in the near future. They are to help educate and to inform you & our clients about things to consider when making a move. We update these guides 4 times a year so you have up to date information because Keeping Current Matters!

CLICK BELOW For YOUR FREE GUIDE

Buyer Guide:

Things to Consider When Buying a Home

The “Buyer Guide” will explain things to consider when considering buying and the current market opportunities.

 

Don’t Miss Out…Super Charge Your Home Search | Homes for Sale, Highland Village, TX

Super Charge Your Search for Properties that are FOR SALE and FOR RENT!

Home Buyers

Sick of the other guys having properties that are no longer for sale? Want up to the minute real estate and rental data? Tired of your questions going unanswered? Need access to millions of property listings in almost every state? Get your up to the minute real estate and rental data now-look no longer.

Step into the future of real estate and supercharge your smartphone with the best property info now. Download the Millions Mapped App Click Here

Investors

Wondering what the rental prices are in an area? You can quickly see when you pull up the downloaded Millions Mapped App and filter for both homes for sale and rental properties in the area too!

Home Sellers

Thinking about putting your home on the market? See your competition in the palm of your hand! Get up to the minute real estate and rental data -look now longer.

Home Owners

Wow…James & Patricia, down the street, just put their home on the market! I wonder what they are asking for their home… Now in the palm of your hands, open your Millions Mapped App and you can get this information!

Bottom line:

Keeping current matters in the real estate market, whether buying, investing, selling or simply a homeowner you can have this information in the palm of your hands! Download the FREE app now you don’t want to miss out.

Information in the Palm of Your Hands Click Here for Your  Millions Mapped App

 

 

 

Highland Shores, Highland Village, TX | Moving Up to Your Dream Home? Don’t Wait!

Moving Up to Your Dream Home? Don’t Wait!

Moving Up to Your Dream Home? Don’t Wait! | Simplifying The Market

Mortgage rates are just one important aspect of buying a home. The interest rates are an important component when considering the purchase of a home if you are going to finance it.  They can affect buyers buying power. The majority of people finance and that means interest rates, so if interest rates increase… your buying power decreases. Now is the time to move up since you are considering a move.

At a local level in Highland Village,TX, buyer confidence remains strong with beautiful homes in a lakeside setting.     

Particularly in and around Highland Shores 75077 zip code. The addition of new stores and business entities in the area makes Highland Village one of the greatest areas of Highland Shores, Highland Village, TX.         

Today we would like to talk to you about  Moving Up to Your Dream Home? Don’t Wait!

Mortgage interest rates have risen by more than half of a point since the beginning of the year, and many assume that if mortgage rates rise, home values will fall. History, however, has shown this not to be true.

Where are home values today compared to the beginning of the year?

While rates have been rising, so have home values. Here are the most recent monthly price increases reported in the Home Price Insights Report from CoreLogic:

  • January: Prices were up 0.5% over the month before.
  • February: Prices were up 1% over the month before.
  • March: Prices were up 1.4% over the month before.

Not only did prices continue to appreciate, the level of appreciation accelerated over the first quarter. CoreLogic believes that home prices will increase by 5.2% over the next twelve months.

How can prices rise while mortgage rates increase?

Freddie Mac explained in a recent Insight Report:

“In the current housing market, the driving force behind the increase in prices is a low supply of both new and existing homes combined with historically low rates. As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”

Bottom Line

If you are thinking about moving up to your dream home, waiting until later this year and hoping for prices to fall may not be a good strategy.

What Does a Home Inspection Check?

A home inspector will look at everything.  Home inspectors have a 1,600-item checklist, according to the National Association of Home Inspectors and the average home inspection can take three to four hours – or even more if you have additional inspections, such as termite inspections, included.
Here are just some of the areas checked during a home inspection:
  • Grounds: Standing water, faulty grading, sick or dying trees and shrubs, crumbling paths and walls
  • Structure: Foundation integrity, rotting or out-of-plumb window and door frames
  • Roof: Defects in shingles, flashing, and fascia; loose and hanging gutters; defects in chimneys and skylights
  • Exterior: Cracks or rot; dents or bowing in vinyl; blistering or flaking paint; adequate clearing between siding and earth
  • Window, doors, trim: Rotting frames, peeling caulk, damaged glass
  • Interior rooms: Water-stained ceilings, adequate insulation, and sufficient heating vents
  • Kitchen: Proper venting, no leaks under the sink, and cabinet doors and drawers operate properly
  • Bathrooms: Toilets flush properly, showers spray, and tubs are securely fastened
  • Plumbing: Drains flow properly; water has proper temperature and pressure
  • Electrical: Proper electrical panels and working light switches and outlets
Home inspections are non-invasive, meaning your home inspector will not be breaking into walls or under tile floors, for example, to be able to inspect what lies beneath or within.
We believe you need a trusted and highly skilled inspector when purchasing a home and we have an inspector list that we recommend for our clients.

Residence Homestead Tax Exemption…and others

CLICK HERE Info on How To File For Homestead Tax Exemption + Other Exemptions

First… What is A Homestead?

A homestead is a person’s or family’s primary residence, in which the person’s or family resides in and not considered a second home. A second home is a rental/investment property or a vacation home but not the primary residence.

A homestead can be a separate structure, condominium or a manufactured home located on owned or leased land, as long as the individual living in the home owns it. A homestead can include up to 20 acres if the land is owned by the homeowner and used for a purpose related to the residential use of the homestead.

Frequently Asked Questions

Does it cost to file for a homestead exemption? 

No it is FREE. You may receive some very official looking mail after you have closed on a home saying they will file for you – for a FEE, however it is very easy for the homeowner to file and it is FREE.

Do I, as a homeowner, get a tax break from property taxes?

You may apply for homestead exemptions on your principal residence. Homestead exemptions remove part of your home’s value from taxation, so they lower your taxes.

For example, your home is appraised at $100,000, and you qualify for a $15,000 exemption (this is the amount mandated for school districts), you will pay school taxes on the home as if it was worth only $85,000. Taxing units have the option to offer a separate exemption of up to 20 percent of the total value.

Do all homes qualify for homestead exemptions?

No, only a homeowner’s principal residence qualifies. To qualify, a home must meet the definition of a residence homestead: The home’s owner must be an individual (for example not a corporation or other business entity) and use the home as his or her principal residence on January 1 of the tax year. If you are age 65 or older, or disabled, the January 1 ownership and residency are not required for the age 65 or disabled homestead exemption.

What homestead exemptions are available?

There are several types of exemptions you may receive.

School taxes: All residence homestead owners are allowed a $15,000 homestead exemption from their home’s value for school taxes.

County taxes: If a county collects a special tax for farm-to-market roads or flood control, a residence homestead is allowed to receive a $3,000 exemption for this tax. If the county grants an optional exemption for homeowners age 65 or older or disabled, the owners will receive only the local-option exemption.

Age 65 or older and disabled exemptions: Individuals age 65 or older or disabled residence homestead owners qualify for a $10,000 homestead exemption for school taxes, in addition to the $15,000 exemption for all homeowners. If the owner qualifies for both the $10,000 exemption for age 65 or older homeowners and the $10,000 exemption for disabled homeowners, the owner must choose one or the other for school taxes. The owner cannot receive both exemptions.

Optional percentage exemptions: Any taxing unit, including a city, county, school, or special district, may offer an exemption of up to 20 percent of a home’s value. But, no matter what the percentage is, the amount of an optional exemption cannot be less than $5,000. Each taxing unit decides if it will offer the exemption and at what percentage. This percentage exemption is added to any other home exemption for which an owner qualifies. The taxing unit must decide before July 1 of the tax year to offer this exemption.

Optional age 65 or older or disabled exemptions: Any taxing unit may offer an additional exemption amount of at least $3,000 for taxpayers age 65 or older and/or disabled.

How do I get a general $15,000 homestead exemption?

You may file an Application for Residential Homestead Exemption with your appraisal district for the $15,000 homestead exemption up to one year after the taxes on the homestead are due. Once you receive the exemption, you do not need to reapply unless the chief appraiser sends you a new application. In that case, you must file the new application. If you should move or your qualification ends, you must inform the appraisal district in writing before the next May 1st. A list of appraisal district addresses and phone numbers is available online.

What is the deadline for filing for a homestead exemption?

APPLICATION DEADLINES: You must file the completed application with all required documentation beginning Jan. 1 and no later than April 30 of the year for which you are requesting an exemption. If you qualify for the age 65 or older or disabled persons exemption, you must apply for the exemption no later than the first anniversary of the date you qualify for the exemption.

May I continue to receive the residence homestead exemption on my home if I move away temporarily?

If you temporarily move away from your home, you may continue to receive the exemption if you do not establish a principal residence elsewhere, you intend to return to the home, and you are away less than two years. You may continue to receive the exemption if you do not occupy the residence for more than two years only if you are in military service serving outside of the United States or live in a facility providing services related to health, infirmity or aging.

If I own only 50 percent of the home I live in, do I qualify for the residence homestead exemption on the home?

Yes. However, if you qualify for a homestead exemption and are not the sole owner of the property to which the homestead exemption applies, the exemption you receive is based on the interest you own. For example, you own a 50 percent interest in a homestead and will receive one half, or $7,500, of a $15,000 homestead offered by a school district.

My APPRAISAL Is TOO HIGH….PROTESTS AND APPEALS

Many homeowners protest and appeal their appraised home values yearly. Find out more here.

WEBSITE LINK:

http://www.window.state.tx.us/taxinfo/proptax/exemptions/residence_faq.html

Source: Texas Comptroller of Public Accounts

TITLE COMMITMENT … WHAT IS A TITLE COMMITMENT?

The Title Commitment

The title commitment is produced after the title company has received a copy of a signed sales contract and a check for earnest money. The commitment reviews the status of title, lists title issues and defects that need to be addressed or “cured” before closing, and states any other preconditions to issuance of a title policy.

This is not the same thing as title insurance. Click here to learn about Title Insurance.

The title commitment consists of Schedules A through D plus various notices and disclaimers.

    • Schedule A Sets out the date of the commitment, who the title company is proposing to insure (both purchaser & lender –if financed), the amount of title liability, the property title is insuring and how title to the property is currently held.
    • Schedule B lists exclusions and exceptions to coverage, including such matters as deed restrictions, setback requirements, and utility easements. These are items that affect the property and will probably always affect the property.
    • Schedule C Shows items that must be resolved prior to closing. These items might include include existing liens, bankruptcies, abstracts of judgement, marital status issues, probate issues, vesting problems or mechanic’s lien affidavits.The title company routinely requires release of these. If there are more serious issues like mechanic’s liens, judgments against the seller, tax liens, lawsuits affecting title, heirship issues due to a previous owner dying without a will, or gaps in the chain of title, the commitment will indicate what must be done if title is to be insured in the name of the new owner. Specific curative action may be required.
    • Schedule D is a disclosure of ownership of the title insurance company and underwriter as required by regulatory law. It also shows the estimated premiums to be charged at closing. Please review your contract to determine what you will be charged.
      • Please note this information does not constitute legal advise 

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