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Your Austin Texas Real Estate Directory presents news and advice you can use!
Provided by Texas Association of REALTORS®
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Ask George and ChuckHow can I get out of my listing agreement? Why has my bank cancelled my home's foreclosure? |
Demystifying exchanged-property timelinesThe start of 2012 has many investors looking for bargain properties, sometimes in bunches. The ways of funding the purchases also have become more creative as buyers rethink the role of real estate not only for their portfolios but also for their residences. |
Selling this spring? Start cleaning nowSpring is the busiest time of the year for selling a home. The trees are budding, the grass is green, the songbirds return, and homebuyers feel the urge to begin their home-buying search. |
Ask George and ChuckWhy do I need to fill out a form to see property? Can a seller accept another offer during our negotiations? |
Don't take anyone's word for itNegotiations were tense when I bought a used backyard play house for my two-year-old. The seller wanted $60. I countered with $50. We consulted our attorneys, faxed amended offers back and forth – include the plastic fireplace logs or no deal – but finally settled on $52.75. |
Tell it like it is ... or elseIf you're selling your house, why would you tell potential buyers about the stuff that's wrong with it? Caveat emptor, right? Not so fast. |
Return of once-popular investor loan makes senseTwo years ago, the National Association of REALTORS (NAR), one of the largest professional membership associations in the world with more than a million members, floated its idea of a housing solution to attendees at its annual convention. |
Ask George and ChuckHow do I gain access to my neighbor's townhouse? Can I run a business from my apartment? |
Ask George and ChuckCan the county make me pay taxes from before I owned a property? What constitutes normal wear and tear? |
New tools to help manage your vacation rentalsAn old friend of mine who owns and operates a small development company showed up in town for a weekend event. We blocked out some time to revisit the old days and what's in store next. Like me, his four children had grown and gone. |
Opportunity's knocking ... answer the door, buy a homeThe national media still reports on the collapse of the housing market and the downturn in the economy. While I agree unemployment is still too high and housing is not appreciating the way it did from 2000 to 2006, I believe opportunity's knocking. Now is the time to buy a home. |
Lone Star Livin'Unfortunately, the drought in Texas continues and, according to most reports I read, it's not likely to let up for another year. For me, that means it's time to scale back on our lawn watering. |
Ask George and ChuckShouldn't my neighbor share the cost of a new fence? What constitutes "adverse possession"? |
What does buying a home have to do with a visa?A recent bill introduced in the Senate would offer visas to foreigners who make a cash investment of at least $500,000 in residential real estate. Foreign investors could spend at least $500,000 on one residence or spend at least $250,000 on a residence and invest the remaining $250,000 in other residential property, such as rental property. |
Lone Star Livin'In our first year as homeowners, I was excited about Halloween. Trick-or-treaters don't frequent many second-floor apartments, so for the first time, I would get to open my own door to a front porch full of giggling witches, ghosts, and princesses. Sadly, I was in for a lesson. |
Ask George and ChuckShould I tell buyers that the county has my house's square footage wrong? Why did that foreclosed house sell for less than my bid? |
Voters can help solve Texas water problemsLike cowboys, oil derricks and football, droughts are native to Texas. Now an extraordinary drought has gripped our state, capturing national headlines as it decimates crops, kills trees and cracks home foundations. |
Proposition 2 saves taxpayers moneyProposition 2 may be the most important item on ballot this November 8. It's all about giving local communities a cost-effective way to improve their water- and wastewater-delivery systems. |
Lone Star Livin'The Texas wildfires have really been on my mind lately. For some living in neighborhoods at risk, residents had as few as five minutes to evacuate their homes. That got me thinking ... am I prepared to evacuate my home in five minutes? |
Lone Star Livin'Our family has big plans this weekend: we're carving our first jack-o-lantern together. Though this isn't our son's first Halloween, it is the first one in which he'll do more than coo, cry, and fill diapers ... and it all begins with carving the perfect jack-o-lantern for our doorstep. |
It's not going to fix itself ... reallyAbout six months ago, I heard a knocking noise coming from a bedroom in my house. I discovered that it wasn't coming from the room, but outside it - a woodpecker was having quite a time on a trim board near the roof. |
Invited to the foreclosure table, finally ... investorsLenders have always viewed real estate investors with a wary eye. It seems all investors are grouped into flip-and-run speculators with little skin in the game, no plan for maintenance and repair, yet huge expectations for short-term profits. |
Lone Star Livin'If you live anywhere near Texas, you already know that devastating wildfires have been ravaging our state. In fact, an official of the American Red Cross recently told me that we've had a wildfire burning every day somewhere in Texas since December 2010. Ouch. |
Ask George and ChuckCan I get my neighbors away from my bedroom window? Is it unethical for a real estate agent to serve on an HOA's board where she sells homes? |
Affected by wildfires or want to help others who were?For those of us who haven't been through it, it's hard to imagine what it's like to leave your house as a wildfire approaches. Many Texans have faced that situation this year. Thousands have returned to find their property and belongings damaged or destroyed. |
Ask George and ChuckCan we change the contract at closing? Is my listing invalid? Can I cut tree roots? |
Two ways to beat other buyers to the home of your dreamsBefore you even find a house you'd like to buy, you may want to sit down with your Texas REALTOR and talk about the contract. That way, when you do come across your dream home, you'll be able to craft an offer that will leave other buyers shaking their heads at "the one that got away." |
Ask George and ChuckWhat happens when three people own land and two of them want to sell it? Can my neighbor block my easement? |
Ask George and ChuckHow can I prevent my neighbor from planting on his side of my fence? Can potential buyers control how I use my air conditioner? |
Price fixes a lot of uglyOne of the most discussed issues at our house is ... our house. Not the house we just bought, mind you, but the one my wife owned before we got married. We made the decision to hang on to it and give property management a shot. |
Ask George and ChuckVerbal offers, security deposits in foreclosure, and terminating listing agreements |
Lone Star Livin'Any day now, something very exciting is going to happen in our house: our 13-month-old son will take his first steps. My husband and I have been eagerly anticipating the event, holding our breath each time we set him on his wobbly feet. We're ready for the big moment and know we need to get our house ready, too. |
Are you ready to buy?As I was watching TV the other day, I saw a commercial that said, "It's a great time to buy a house." |
Lone Star Livin'Last week, a visit with my insurance agent prompted me to write a post on having the right insurance policy for your home. While I was updating my family's current policy, another question occurred to me - what about what's in my home? Am I certain I would receive proper compensation for my valuables if they were destroyed or stolen? |
Ask George and ChuckWhat happens when contract negotiations outlast the term of our listing agreement? |
Make a list, check it more than twiceHave you made The List? You know ... that collection of must-haves, nice-to-haves, and better-not-haves for your new home. If you haven't made yours, you should. |
Ask George and ChuckWhat happens when contract negotiations outlast the term of our listing agreement? |
Lone Star Livin'Like most Americans, my husband and I have been following the string of natural disasters that have affected the U.S. in the last several months ... wildfires in the West, tornadoes in the Mideast and, most recently, massive flooding throughout the South. In each case, thousands of families have lost their homes and our hearts go out to them. |
I think I'm going to renewAs hard as it is for me to believe, my wife and I have been in our new house for six months already. Like many recent homebuyers, we were given a home warranty on our purchase. |
Lone Star Livin'For a household with two working parents, a one-year-old, and three pets, "busy" is hardly an adequate description of our lifestyle. While it has been a work in progress, I am proud that most days things don't completely fall apart, and every now and then I'm even able to do things like organize closets or do a little yard work. |
Texas REALTORS ... Working for you!Usually, people only think of REALTORS when they are about to make a decision on buying or selling a home. But did you know that Texas REALTORS work for you all year long? Members of the Texas Association of REALTORS work with our local, county, and state lawmakers to ensure Texas remains a "homeowner friendly" state. |
Before putting your home on the market, make it biggerAlright, I'm not really proposing that you put an addition on your house before you sell it. But I do recommend making the rooms in your home look bigger, because you'll never hear a buyer say, "I was really hoping for something more cramped." |
Lone Star Livin'Yep, we're those parents. The ones who jump up and down like fools when our son learns how to clap and who throw big parties for his first birthday. On our journey to becoming those parents, we discovered something handy: our neighborhood has a clubhouse. |
Why I think you need professional helpWhy haven't real estate agents gone the way of travel agents? I've heard that question many times. To me, the answer is simple: Buying a house ... or commercial or investment property ... is nothing like booking a trip. |
What to ask the sellers after closingI can't believe they left me a pile of trash, I thought. My wife and I had just closed on our first home and walked into our new kitchen to find papers, booklets, cans of paint, and other items stacked on the counter. |
Lone Star Livin'I'm so excited, I can hardly stand it: my husband and I are going on vacation!!! A real vacation! No sleeping on family members' fold-outs and no work. Just beaches, water views and food enough for an army for seven glorious days. I can smell the sea water already... |
Lone Star Livin'My husband and I are fortunate to have a large, tight-knit family. Between us, we have 19 wonderful nieces and nephews who live just three hours away and this weekend, six of them came to visit. |
How splitting the difference can cost youLet's say I want to buy your house. You're selling it for $200,000, but I offer $160,000. You're not selling it for that amount, so you counter with $190,000. I then propose that we split the difference, at $175,000. Do you think that's a fair price? |
One rotten apple doesn't ruin whole marketIf I buy a house today, will it be cheaper tomorrow? In other words, if I buy now, what is the likelihood my property's value will decline, and I won't be able to sell it for what I paid for it? Put yet another way, have we hit bottom on home prices? |
Please spend your moneyLike my colleague, I watch a lot of HGTV. Not only are they relevant to my profession, but having just remodeled one house and bought another one, I find the shows interesting. |
When house hunting, watch your Ls and CsWhen buying a house, a good Texas REALTOR will assist you with the "Ps and Qs" of the contract, inspection, and closing process. They will help ensure the "Ts" are crossed and the "I's" are dotted. |
Think twice before restarting your mortgage clockThere used to be a big push by lenders to secure "customers for life." Not only did banks promote attractive mortgage programs, but they also targeted the same customers for checking and savings accounts, individual retirement accounts, credit cards, auto loans, wealth management advice, and insurance services. |
Don't let little flaws scare away buyersI watch more Home and Garden TV than I care to admit, especially the show "House Hunters." On it, people looking to buy a home are paired with a local Realtor and shown three properties. At the end of the show, the homebuyers make an offer on one of the three places. |
Lone Star Livin'I'm a huge fan of cooking shows. Ina Garten, Rachael Ray, Giada de Laurentiis ... you'd think they were all long-lost friends based on the space they command on my DVR. That being the case, a reasonable person would assume I'm also a fan of cooking ... not exactly. |
The future of Fannie and FreddieAfter $140 billion in taxpayer losses, the Obama Administration is seeking ways to wind down mortgage reinsurers Fannie Mae and Freddie Mac. |
Lone Star Livin'If you've read my biography, you know that part of my day job is serving as Public Relations Counsel for the Texas Association of REALTORS. Normally, you won't find this blog crossing over with that role ... except when it does. |
Give yourself an optionWhoever invented the undo function in computer software is one of my heroes. Think about it: If something doesn't turn out the way you intended, hit Control + Z and - poof - it never happened. There aren't many places in life where you get to undo your actions like that, but the option period in a real estate contract is one of them. |
Lone Star Livin'"Winter" and "Texas" usually only go together when you're talking about Winter Texans - those smart folks who escape to our state to avoid frigid temperatures in hometowns of Chicago or Fargo. Last weekend, however, "winter" and "Texas" collided in a big way. Was your house ready? |
How to choose your agentMy wife and I are not the FSBO type. She's too practical and I'm too worried about messing up some seemingly insignificant business detail, only to have it come back and bite me on the backside. |
Ask George and ChuckI'm about to buy a house. The seller states in the Special Provisions section of the contract that he's selling the house "as is." I have an inspection scheduled during my option period. If the inspector finds a major problem, can I still opt out of this contract before the end of my option period just losing the option money? |
Lone Star Livin'My husband came home with this adorable puppy. A mix of Labrador and hound, she was about five pounds with floppy ears and a sweet little face. Despite all that cuteness, I still had hesitations. |
Ask George and ChuckMy father owns a condo that's been on the market for a year. He installed new carpet, repainted all the rooms, and updated all the light fixtures. The problem is the outside. We've gotten a lot of feedback from showings that the condo's exterior is scaring away potential buyers. |
A real (estate) enemy at the gatesI have never been a fan of using a bogeyman to make a point. It takes away from intelligent and thoughtful discourse and often leaves a wake of irrational fear. |
Ask George and ChuckDear George: Two property owners in our homeowners association say that they want to opt out of the HOA. How can they do this? |
Ask George and ChuckDear George: My husband and I submitted a signed offer, earnest money, and option fee to a listing broker's "broker associate" for a piece of property. |
Ask George and ChuckDear George: I need to lease a home where a man murdered his wife before committing suicide. I've know it's a good idea to disclose such an event to a potential buyer, but what about a potential tenant? |
Ask George and ChuckDear George: My ex-husband and I have a contract to sell our former home. However, the closing agent says that a creditor placed a judgment against our home due to credit problems my ex-husband had after we separated. |
Ask George and ChuckDear George: We gave three months' notice of our intent not to renew the lease of the single-family home we've been renting for two years. |
The forms, they are a changin'The Texas Real Estate Commission has adopted a slew of changes to the contract used by the vast majority of homebuyers and sellers. |
Ask George and ChuckDear George: We recently paid an option fee and earnest money to enter into a binding contract for a distressed home that has sat vacant for five years. |
Weak home sales don't tell whole storyHome sales statistics are likely to paint a picture of a weakening market through the end of 2010 and the first half of 2011. That doesn't tell the whole story. |
Ask George and ChuckDear George: We live in an apartment complex where I fear for my family's safety. There are large dogs with muzzles. My car has been broken into. Are these valid reasons to break my lease? |
Ask George and ChuckDear George: If I sell my home in a few years, do I have to disclose long-repaired pest damage? |
Ask George and ChuckDear George: I just found out that the seller "forgot" to disclose a water claim. What can I do? |
Ask George and ChuckDear George: The contract to sell my house expires this week. How much longer am I obligated to my agent?..... |
Ask George and ChuckDear George: Does a seller have to provide a disclosure notice for a short sale?..... |
Ask George and ChuckDear George: A seller accepted my offer via e-mail. Is that legally binding?..... |
A tale of Texas taxesHere is one assertion I bet all Texans will agree with - property taxes in our state have a peculiar way of increasing..... |
Prepare yourself for a good closingClosing is a process that begins weeks before the actual closing date, and follows an outline dictated largely by the buyer's original offer..... |
The secret's outIt's one of the worst-kept secrets out there: Texas is a great place to live...... |
Homestead exemption scamsYou must apply for the exemption, but there is no fee associated with applying for a homestead exemption..... |
If the last tree in the forest falls...If governmental entities had full discretion on what was a public good, all private real property would be at risk of being appropriated for the public good..... |
Buy a home, get a tax creditIf you were thinking of buying your first home but just couldn't get it together in time to take advantage of the $8,000 federal tax credit, you have an extension. Congress gave you about five more months...... |
Letters of distinctionOne certification, available only to Texas REALTORS, is called Texas Affordable Housing Specialist..... |
Why must they lie?If you could hook up a lie detector to an e-mail, the needle would be jumping on this one..... |
No fun being number 1Texas ranks 14th in the amount residents pay in property taxes. Our state is also first in how much we pay in property taxes. How can that be?..... |
Lost in translationOn Nov. 3, 2009, the voters of Texas will once again have an opportunity to take a stand against the burdensome and uneven taxation of residential property..... |
Market versus appraised valueDon't confuse the appraisal with market value. The appraised value is a certified appraiser's opinion of the worth of a home at a given point in time...... |
My house won't sellThere are a variety of factors that contribute to a home languishing on the market, including price, condition, and location..... |
A $68,000 credit on a home? Seriously?No, it's no joke. As a first-time homebuyer with a moderate income, you may be able to save $68,000 on a home. That's $8,000 on the purchase and $60,000 over the life of a 30-year loan..... |
Safety tips for home sellersIf you're selling your house, there are some safety tips you should be aware of to keep yourself and others safe during the process..... |
All real estate is localIs it a seller's market or a buyer's market? Be careful where you get your information to answer that question ..... |
Landlord in the making?Are you considering buying an investment home as a rental property? This may be a good time to start ..... |
Eight thousand reasons to buy your first homeIf you've been paying attention to the recent "stimulus" activities in Washington, you already get the reference to 8,000 reasons in the headline above. It's really only one reason, but it could be worth $8,000 to you..... |
Twelve tips to sell your homeThere are few things more frustrating to a seller than a home that sits on the market. It's stressful to keep a house in showing condition, and not selling can cost you lots of money..... |
Closing costsEveryone knows that in most cases you'll need at least a small down payment to purchase a home..... |
Home warrantiesAfter you buy an existing home, let's face it - the last thing you want to worry about is a broken big-ticket item like the air conditioner or oven..... |
The next level of cleanAside from the necessary intrusions, the most inconvenient aspect of having your house on the market may well be keeping the house in showing condition..... |
Be ready to buy If you find what you're looking for in a home, you should be prepared to make an offer quickly..... |
Can this be fixed?You've heard it 1000 times; don't ever buy a home without getting a home inspection..... |
Don't be deceived by numbersThere's a common statistic in the real estate world called Days on Market, or DOM. Some people believe a property that has been on the market for a while must have serious problems, but this is not necessarily the case..... |
Restricted access If you're selling your home and you require advanced notice, ask your agent to put the restriction and reason in the private remarks section of MLS..... |
DisappearWhen your house is on the market, it's important to be flexible with your showing times. Part of that flexibility is having the capacity to ..... |
Understanding the lingo - pointsPoints is a common word you'll hear when you're in the process of buying a home or acquiring financing. But what does it mean? ..... |
Don't outsmart yourselfAre you one of the people who is trying to "time the market" and wait for home prices to go down before you make a purchase? Doing so may not be as wise as you think...... |
Any time's a good time"Now's not the best time ... can we set something up for later?" These are words that a buyer and his agent do not want to hear when they're out looking for a property..... |
What not to doYou'll be given all kinds of advice and pointers about what you should do and how you should do it, but there are things you shouldn't do that are equally important...... |
Selling a vacant houseSo you've accepted your new job and have moved on to your new life in a different city..... |
Not just the houseAfter you've made the decision to buy a home, it pays to prioritize your needs and wants..... |
Maximizing your exposureExposure is the key to selling fast and getting top dollar. The more people who see your home, the sooner you will find a willing buyer..... |
Different kinds of real estate Web sitesFrom the way consumers acquire information about properties and neighborhoods to the way agents market themselves and their listings, real estate, like so many other industries, has been fundamentally altered by the Internet...... |
Fresh paint can make a differenceThere are many factors that can affect the sale of your home. Many of these, like interest rates, number of buyers, and amount of competing inventory, are simply out of your control. There are, however, things that you..... |
After the inspectionYou're serious about buying this house; in fact, you've already put down earnest money, the option fee, and even gotten an inspection..... |
Internet presenceThere's so much information on the Internet. Literally thousands of real estate sites are out there..... |
Beware of informed buyersIf you are looking to sell your home, it is not in your best interest to pick a price slightly higher than your house is worth..... |
Final walk-throughClosing is just days away! You're about to make a huge investment and you've been running around town taking care of business...... |
Casa o Apartamento. ¿Qué es mejor para usted?Muchas personas cuando deciden comprar una vivienda, la primera imagen que les viene a la mente es una casa, con un bello jardín, tal vez bordeado de una linda cerca de madera y con un bonito patio..... |
Protéjase al vender su casaA partir del primero de enero del 2008, toda persona interesada en solicitar una licencia de agente de bienes raíces en Texas, como vendedor o como corredor, ahora debe proveer sus huellas digitales para un chequeo del FBI sobre antecedentes criminales..... |
Myths about homeownership Many consumers believe that they can't qualify for a home loan because of a variety of reasons, including spotty credit and no money for a downpayment..... |
Entice buyers with extrasIf you're putting your home on the market, or if it has been on the market for a while without solid offers, you may consider including some appliances, furniture, or other extras in the asking price..... |
Don't forget the treesIt's common to consider the kitchen, bathroom, living space, and other indoor amenities, but don't forget the outside, especially the trees..... |
The tax factorYou might consider consulting with a tax adviser regarding the sale's impact on your federal tax return..... |
Coming to your sensesThe more you do to prepare your home for market, the more money you can expect to pocket at the closing table..... |
Get your free credit reportIf you are thinking about buying a home, it is a good idea to find out what your credit report says before applying for the loan..... |
Learn about loansThere are many kinds of loans; the one that makes the most sense for you depends on your current situation and your plans for the future..... |
Moving outIf you are selling your home, create a moving checklist to ensure a smooth transition from one property to the next...... |
You may need to stay putChanging jobs in the midst of the process may not have a significant affect on your ability to qualify for a mortgage loan..... |
From seller to buyerAlthough your property could sell in a couple of days, the real dilemma you may face is finding your next home...... |
Understanding the lingo - escrowDuring the process of buying your home, you'll hear the word escrow thrown around. It's easy to get confused because the term can refer to different things that occur at different times..... |
Protect yourselfWhile it's certainly not common, there are reports of sellers' possessions disappearing during a showing..... |
Take an impromptu visitWhen you begin narrowing your selection or you find that you've fallen head-over-heels in love with a certain house..... |
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