For Buyers: The Down Payment

FOR BUYERS: THE DOWN PAYMENT

Port Aransas, TX - Saving for a down payment on a home can seem like a difficult goal to accomplish. But, if you have a solid plan in place and stick to it, home ownership will be achievable. I came across this article that offers some great tips on how to begin saving for a down payment. As an Accredited Buyer’s Representative (ABR®), I’ve helped all types of buyers achieve their dream of owning a home. I also have a great network of professionals that can help every step of the way. I look forward to working with you.

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Struggling to Save for Your Down Payment? You Aren’t the Only One. 
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For Buyers : Must Know Financing Options for an REO Property

For Buyers : 

MUST KNOW FINANCING OPTIONS FOR AN REO PROPERTY

Port Aransas, TX - Have you considered a REO property, or a house that has been foreclosed on and was unable to sell at auction? If you have, make sure you know all the options and details when it comes to buying a REO home. I found this article that gives insight into REO properties, and how to go about financing one. As an Accredited Buyer’s Representative (ABR®), my goal is to make sure you are well educated in the home buying process. Please contact me with any questions or concerns about buying.

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Must-Know Financing Options for an REO Property by Craig Donofrio. Copyright © 1995-2014. National Association of REALTORS® and Move, Inc. All Rights Reserved.

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See homes in Corpus Christi area

      See homes in Corpus Christi area

Remodeling for Departing Kids and Returning Parents

 Port Aransas, TX. - The American family is ever-changing, and its primary space, the home, has always changed with it. The present day is no exception: The largest segment of the American public, the baby boom generation, is entering retirement age in high numbers, and confronting “empty nests” when the kids go off to college or marry and move out permanently, presenting the challenge of what to do with the sudden extra space (since most “boomers” prefer to “age in place” rather than leave their long-time homes).

There is also the perennial family responsibility of caring for older relatives as their health needs require them to move back in with their grown children and in-laws. Extended families (including grandparents raising their grandchildren) have also become more commonplace. Situations like these can pose the challenge not of how to deal with extra space, but how best to add more.

Changes which only affect the inside of a house can be the simpler type, but are not necessarily any easier a decision. However, there are a number of inviting options to consider. Mature baby boomers who are ready to enjoy the fruits of a lifetime of work and have the funds to invest in doing so, are converting the extra space vacated by the kids into everything from “wine cellars” to libraries.

Home offices are popular, and tap into a growing trend. They come in handy for organization and privacy, whether you’ve got a business or merely need a space to keep your bills and personal files straight.

Hobbies are big with boomers, so a hobby room for sewing and other crafts makes sense. A small home gym, with treadmill, weights and a TV to pass the time, is also a good investment for both fun and health.

On the other hand, many of today’s homeowners are opting to add that extra room – or rooms – if they don’t already have one, for entertaining guests, housing returning relatives, or setting up a separate but accessible space for an elderly parent or in-law. Before you do this, there are a number of questions to address, including what local zoning ordinances will allow for additions, and how the aesthetics and size of the addition will affect resale value. 

There are also family matters to make sure everyone understands. While some younger families move grandma in with them, some older ones sell the house to a son or daughter and move into the addition themselves.; In all such situations, it’s important to agree beforehand who owns what part of the house, whether rent will be charged, who will pay for any extra utility or property-tax costs, and other sensitive issues that don’t have to become divisive ones.

Jannine is one of more than 40,000 members of the Real Estate Buyer’s Agent Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS®, who have attained the Accredited Buyer’s Representative designation. The Accredited Buyer’s Representative (ABR®) designation is designed for real estate buyer agents who focus on working directly with buyer-clients.  Having an ABR® can guide you through structuring your offer and negotiation strategy.

To receive a free copy of the REBAC-published “Homebuyer’s Toolkit,” call (361)688-0067.

Moving With Less Stress for Your Pets

Port Aransas, TX. - Anyone who has ever moved knows that there are seemingly a million and one tasks to remember, from selecting a moving company to switching off utilities. All of the adjustments and changes involved in moving to a new home can be even more challenging when you have a pet. But there are ways to prepare to minimize the stress to your furred, feathered and finned friends.

 The preparation process can be as crucial a stage as the move itself – familiar settings are disrupted as furniture gets moved and belongings packed away. A cat or dog will wonder who all these strangers are (potential buyers, inspectors, movers, etc.) and what’s happening to the pet’s familiar “territory” (changed location of litter boxes, favorite sleeping places, etc.) – which is how an animal sees your home.

For that reason, it’s actually a good idea to change the “landscape” a little more – on the animal’s behalf. Designate a room to remain just for your pet while the move proceeds around them, with their familiar toys, food and water bowls, sandbox (for cats), and so forth. This way they’ll have a reassuring (if rearranged) space to spend the moving process in. It will also minimize the chance of escape by anxious animals while people are coming and going from your house more than usual, and reduce the danger of a scared cat hiding itself in the moving boxes with potentially tragic results.

Such precautions help calm your pet for the developments ahead – the move itself is stressful for pets and people alike, though this too can be minimized. If you’re flying, check ahead to see which airlines allow pets as “carry-ons.” The cargo bay is a possibility, but will isolate and possibly frighten your pet. In either case, anxiety and exposure to the elements will be lessened if you can book a direct flight.

If you drive, make sure you know where to find hotels that allow pets rather than leaving them in the vehicle (never a good idea in terms of safety or exposure to changing temperatures), and, especially with a dog, schedule frequent “rest stops” for both animal and owner. For birds, rodents and fish, “homes away from home” can work well – transport your bird or hamster in its cage, and your fish in a plastic container of water, roomy enough for the number of fish and changed regularly for long trips.

It’s always a useful idea to consult a veterinarian for all the fine points, and a qualified real estate professional to help with all the questions a house-move poses; pet-compatible services are one of many matters a real estate sales associate can look into for you. With some advance planning and help from local experts, Fido’s longest walk can have a happy destination.

Jannine is one of more than 40,000 members of the Real Estate Buyer’s Agent Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS®, who have attained the Accredited Buyer’s Representative designation. The Accredited Buyer’s Representative (ABR®) designation is designed for real estate buyer agents who focus on working directly with buyer-clients.  Having an ABR® can guide you through structuring your offer and negotiation strategy.

To receive a free copy of the REBAC-published “Homebuyer’s Toolkit,” call (361)688-0067.

New Kid on the Block: Moving With Children

Port Aransas, TX. - Moving is a major change for all members of a family. Adult responsibilities weigh heavily when keeping track of all the tasks needed to make a move go smoothly. If you have children, this may be a difficult time to focus on their problems, too, but it’s also one of the most crucial times to keep their concerns in mind.

Sometimes what seems like a major disruption to grownups is viewed as an adventure to the kids. Still,  changing homes can also upset feelings of stability (in the case of younger children) and belonging (in the case of teens). These are special concerns for these age groups.

The most important thing a parent can do is maintain normal routines as much as possible – and when it isn’t possible, to let the kids know that apprehension about a big life change is normal, too. Try to keep calm about the move yourself, and your children will be more likely to follow your lead. It is advisable to be open about what’s happening and how everyone feels about it. 

This means keeping your kids in the loop at each stage of the move. They don’t have to get a vote, but it helps everyone for them to get increasingly used to the idea of this change. Bring them along when you look at houses, make them familiar with the new area you’re moving to, and investigate its attractions (including the athletic or extra-curricular offerings that appeal to your kids). Exploring some of this on the Internet is a good way to relate your relocation to an activity they already enjoy.

Encourage your children to express any worries, and do what you can to reassure them. If you went through similar experiences as a child, you can share how you dealt with it – if it was easy, so much the better, and if it was hard, your children will know they’re not the only ones who have ever had to deal with change.

Other neighborhood kids may grow distant when they know a friend is leaving. This is hurtful to your own children, but try and explain that some kids aren’t yet mature enough to handle it another way, and that it isn’t your kids’ or even the others’ fault.  

 

Minimizing transitions and heading off family disputes are each essential to a smooth move with children. Try and arrange visits to the new school and meetings with the new teachers before the school year or semester starts. When you have more than one child, make bedroom assignments in the new house as soon as possible to avoid sibling strife (comfort, privacy and age seniority are all issues of kid politics that it is sometimes easy for grownups to forget).

Above all, be open and patient. If you pay the right attention, you will be letting your children know that, move or no move, the most important people in their life aren’t going anywhere.

Jannine is one of more than 40,000 members of the Real Estate Buyer’s Agent Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS®, who have attained the Accredited Buyer’s Representative designation. The Accredited Buyer’s Representative (ABR®) designation is designed for real estate buyer agents who focus on working directly with buyer-clients.  Having an ABR® can guide you through structuring your offer and negotiation strategy.

To receive a free copy of the REBAC-published “Homebuyer’s Toolkit,” call (361)688-0067.

5 Biggest Negotiation Blunders

Port Aransas, TX. — According to the 2011 National Association of Realtors® Profile of Home Buyers and Sellers, the second most popular reason buyers use a real estate agent is to help with the negotiation process. However, buyers can negatively impact the process making mistakes which lead to them losing their dream house. Don’t make these negotiation blunders:

1.    Not entering with a negotiating strategy: Before submitting an offer, try to remember that the seller has already decided how much money they want from the sale of their property. “Knowing how to negotiate effectively is the key to getting the best deal,” says Jannine Osborne “Without a plan, you might risk losing the house you want.”

2.    Giving up too soon: Buyers might get discouraged when they are competing against multiple offers on a house. However, the biggest mistake a buyer can do is panic and withdraw their offer. You should stay involved for at least one round of negotiations, but also establish your maximum price.

3.    Not providing earnest money:  Earnest money is a cash deposit you make when submitting your written offer on a property to show your “good faith.” Sellers are understandably suspicious of offers that are not accompanied by such a deposit.

4.    Having too many contingencies:  A contingency is a term or condition that must be met for an offer to become a binding contract. Home buyers with too many contingencies tend to weaken an offer.  Some examples of contingencies are securing a job transfer, selling your current home or obtaining specific financing terms.

5.    Weak negotiating position:  Sellers usually like to go with a strong bargaining position. Some examples of strong positioning is being pre-approved for a mortgage or having little to no contingencies. “With these factors in your favor, you may be able to negotiate a lower price. On the other hand, in a ‘hot’ seller’s market, if your ‘perfect’ home comes on the market, you may want to offer the list price (or more) to beat our other offers,” says Osborne.

However, an Accredited Buyer’s Representative can counsel you on making an effective offer that will land you the house of your dreams. Jannine is one of more than 40,000 members of the Real Estate Buyer’s Agent Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS®, who have attained the Accredited Buyer’s Representative (ABR®) designation. The Accredited Buyer’s Representative (ABR®) designation is designed for real estate buyer agents who focus on working directly with buyer-clients.  Having an ABR® can guide you through structuring your offer and negotiation strategy.

To receive a free copy of the REBAC-published “Homebuyer’s Toolkit,” call (361)688-0067.

Prequalifying Helps Determine How Much House You Can Afford

Port Aransas, TX — Before you start your house hunting in earnest, the real estate professional with whom you are working likely will "prequalify" you to determine a price range you can afford. According to the Jannine Osborne, ABR®, prequalification is a necessary part of the home buying process that helps save you time and money.

"Don't be shy or withhold information about your income or credit status. Your lending professional isn't trying to pry. Rather, he or she must know all details related to your ability to obtain a mortgage," Jannine Osborne ABR® of Silver Sands Realty says.

By candidly discussing your financial situation, you'll give the lender the information necessary to show you homes you can afford, Osborne notes. "If you don't open up, you are placing the real estate professional in the role of a tour guide, not someone who can help you find a home within your budget. You'll wind up wasting your time and that of the seller," she says.

Once you have signed a contract to purchase a home, you must choose a lending institution or mortgage company from which to obtain your home loan. Your loan application will request more financial data including your place of employment, assets, and liabilities (including recurring debts such as credit card bills and car payments).

Here are two important tips on loan qualification from Silver Sands Realty 1) Do not borrow the down payment without disclosing the loan, submit fake letters-of-credit or gift letters, or make secret financial arrangements. 2) Accurately list your income and assets, all debts and the approximate amounts you owe.

You'll most likely be charged a credit report fee by the lender, which will cover the cost of having your credit history examined. Credit reporting agencies compile credit reports on consumers, including bill payment history, as well as whether you have been sued or filed for bankruptcy among other information.

Federal credit reporting laws do not give you the right to inspect the actual credit report at the reporting agency or to receive an exact duplicate of the report. But, you are entitled to a summary containing the sources of the report's information. 

If your ability to obtain a mortgage is adversely affected by the credit report, you have the right to challenge its accuracy and seek corrections.

"The credit report is part of the information the lender uses to determine if you qualify for a loan. It is not a mechanism to prevent you from buying. Remember, lenders want to make loans, not turn them down," Osborne says.

Jannine is one of more than 40,000 members of the Real Estate Buyer’s Agent Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS®, who have attained the Accredited Buyer’s Representative (ABR®) designation. As the world's largest association of real estate professionals focusing specifically on representing the real estate buyer, REBAC is "The Voice for Buyer Representation," with more than 40,000 active real estate professional members of the organization throughout the world.  To receive a free copy of the REBAC-published “Homebuyer’s Toolkit call Jannine at (361)688-0067.

Buying A Home? Get An ABR ®

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