Ever wonder how to find the right builder to build your family a home?  Below are my Top 10 recommendations for finding the builder that is right for you!  If you would like to purchase a home, RREA has many experienced and seasoned Realtors that can help you and there is no cost to you.  Your builder will pay our commission!  Call RREA today to find the Realtor that best meets your real estate needs – 281.288.3500.

10.  Use a Realtor!  Realtor’s comply to a strict Code of Ethics and are licensed by the state.  They have a fiduciary responsibility to protect your best interest in a transaction.  Builders do not fall under this Code of Ethics.  They are looking out for their best interest, and many times have their attorneys write their contracts for them.

9.  Find the areas of town you want to live in and interview the builders that will build in those areas.

8.  Get Pre-Approved for your Financing or have a letter from your financial institution stating how much home you can afford to buy.

7.  Figure out the type of home you want – ranch style, basement, two story, patio home, etc.

6.   If your Realtor is a member of the Greater Houston Home Builders Association they have access to the list of builders who construct homes in the area.  All of the Realtors at Register Real Estate Advisors has access to this membership list.

5.  Once you have narrowed down a list of builders, see some of the homes they have under construction and some that have been completed.  Ask for testimonials from their clients or references.

4.  Before picking a floorplan, walk through as many new homes as you can.  You can do this by attending open houses or visiting new communities.  This way you can see the differences between builders and find ideas you want to incorporate in your new home.  Check out the quality of the homes and see what building trends they use (bay windows, art niches, etc.)

3.  Remember that you will be picking your tiles, carpet, countertops, paint, appliances, and much more.  When touring homes and looking at magazines, inspect these items to find out what you like best.  Take lots of notes to share with your builder and photos if possible.  Ask lots of questions!

2.  Your goal should be to find a builder you trust and feel comfortable talking to.  You will have a close relationship during the months that your home is being built.

1.  When you finally pick your builder, ask about his company history, experience, philosophy, and building and payment process.  Talk with the builder at length about what your expectations are for the new home.

November 2011 real estate search results are in and Houston, TX was the #27 most searched market in the country in November 2011, based on data released today by Realtor.com, the #1 homes for sale real estate web site.  The Median list prices for homes in Houston, TX hit $174,500 in November 2011, a 2.79% increase from one year ago this month, and -0.20% decrease from October 2011.  The national median list price in November 2011 was $189,900, a 4.05% increase compared to November 2010.  Active for sale inventory of homes in Houston, TX in November 2011 leveled out at 24,561, a -21.68% decrease compared to November 2010. National inventory counts for November 2011 were 2,014,352, a -21.30% decrease as compared to a year ago.  The median age of inventory in Houston, TX in November was 91 days, a 2.25% increase compared to October 2011.  Nationally, the median age of inventory was 114 days, a 3.64% increase compared to October.

Hey guys! It’s White Board Monday again. This week is the 10 reasons why your short sale was not improved. Hope you find it informative.

You can find the original article at Market Watch.

By Ronald D. Orol

WASHINGTON (MarketWatch) – Freddie Mac on Friday announced that it was moving to help unemployed homeowners by expanding its forbearance options so unemployed borrowers with Freddie Mac owned or guaranteed mortgages can have their loan payments suspended or reduced for as much as 12 months. Specifically, the government-seized mortgage giant said it was giving mortgage servicers the option of providing six months of suspended or reduced payments to unemployed borrowers without Freddie Mac’s prior approval and as much as an additional six months with the firm’s approval. Previously Freddie Mac allowed servicers to grant up to three months of forbearance with no payment and without prior approval, or six months at a reduced payment with written prior approval. “These expanded forbearance periods will provide families facing prolonged periods of unemployment with a greater measure of security by giving them more time to find new employment and resolve their delinquencies,” said Tracy Mooney, a senior vice president at Freddie Mac. The expanded options will take effect on Feb. 1.

Good information for those with youngsters. You can see the original article at Ultimate Spring.

Young Einsteins Math and Science Academy has opened a location at 26420 Lexington Road in Spring and is enrolling full-time students.

The school, for students ages two-and-a-half to 6, has a curriculum that focuses on learning through discovery and inquiry, designed to give children a strong foundation in the subjects of language arts, reading, writing, math, and science, according to a press release.

The school’s director is Carol Hamilton, who was an educator in Texas for 33 years and retired from Aldine ISD.

For more information, call 281-288-3900 or visit www.youngeinsteinsacademy.org.

The time is now to File your Homestead Exemption. 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. Additional information for rules governing the Homestead Exemptions can be found on the Texas Comptrollers website. For those of us in Montgomery County, Texas who need the forms they can be found here. There are some changes this year if you are new to filing so pay special attention to the documents that must be copied and sent with the form. If you are ready to search for property in Conroe, Willis, The Woodlands, or Spring let me know. Let’s get you moving this year while interest rates are low!

Here is some great information about short sales and the Mortgage Forgiveness Debt Relief Act written by Bryan Ellis.

Short sales are becoming more and more common, but that could change if the tax break that currently does not force homeowners who do short sales to claim the forgiven debt on their tax returns is not extended. At the end of this year, the Mortgage Debt Relief Act, also called the Mortgage Forgiveness Debt Relief Act, will expire if changes are not made to the legislation. When this happens, the amount a short sale falls short of the amount owed on a property will, once again, be viewed as income to the former homeowner and will likely make short sales far less attractive to nearly every distressed property owner.

Additional fallout could take the form of more strategic defaults once short sales are no longer an option, warn analysts. If homeowners stand to lose money in the form of additional taxes on the “forgiven” debts on their homes, they may simply opt to walk away from the property all together and hope that the lender ultimately recoups the bulk of the debt when the property is auctioned off or otherwise sold. Of course, in the case of strategic defaults – or other forms of foreclosure as well – lenders can pursue the delinquent borrowers for the difference between the amount that they owed on the property when they stopped paying and the amount the lender was able to make when the property was sold.

These debts are often difficult to collect, but some lenders opt to wait years before pursuing them in order to allow former homeowners to get back on their feet. Others sell the debts to third-party collections companies. Even if this part of the debt is ultimately written off, it can create tax problems years down the road for homeowners because when the debt is written off it may be considered income to the homeowner.

For the most part, real estate professionals are hoping that the Mortgage Debt Relief Act will be extended before it expires on December 31 of this year. If not, “it will be a shock to many taxpayers after 2012,” warns Mark Steber, a tax officer for Jackson Hewitt Tax Service. If the legislation is not extended, more homeowners may opt to declare bankruptcy in order to avoid paying income taxes on their “forgiven” debts.

Do you think that the Mortgage Debt Relief Act should be extended through 2013? Article Compliments of: Bryan Ellis

a great time and a great turn out for Champions School of Real Estate’s career fair yesterday at their FM1960 location. Many new agents looking for the perfect brokerage.

When you purchase a new home or a resale home, you will want to make sure your home has sufficient insurance coverage.  You want a homeowner’s insurance policy that will cover your new house and all of your family’s items inside.  To determine how much insurance you need, figure our how much it would cost you to rebuild your house today on your existing lot.  Your personal property coverage should then be anywhere from 55-75% of that amount, according to most insurance salesman.

If you live in Texas, you know there are natural disasters that take place.  Along the coast, we have to be prepared for hurricanes.  In other areas, there are wildfires.  Damage caused by natural disasters such as flooding, earthquakes and hurricanes are not covered by regular homeowner’s policies, so depending on where you live, you may want to consider additional coverage.  Your insurance agent can help you figure out the right amount of coverage and suggest upgrades or additional policies that would be appropriate for your specific situation.  In the Spring and Woodlands area I recommend LaVon da Fletcher at State Farm Insurance.  She and her team are experts at helping homeowners figure out how much insurance they need.

First of all, home ownership is the American Dream.  It’s creating a home for your family with potential finacial rewards in the future.  How can you benefit in the future from home ownership?  Appreciation.  Usually land and homes appreciate in value over time.  Historically, your home will be worth more in the future than when you purchased it, but you can’t sell it the year after you purchase it.  It’s considered a long term investment.  As your home appreciates and you have been paying down the mortgage, you can use the equity in your home to move to a more expensive or nicer home.  Or move to a smaller home and use that equity to pay off bills, pay for a child’s college, or fund your retirement.  It gives you some flexibility for your future.  If you don’t want to sell the home, you can still tap into the equity by refinancing or getting a home equity loan to remodel or make a large purchase.  Basically, you can leverage your property.  This is just another benefit of home ownership.  Lastly, you get tax breaks when you own a home.  You can deduct property taxes and mortgage interest.  Owning a home has always been a wise investment.  If you would like to know more about the benefits of home ownership, please call Register Real Estate Advisors at 281.288.3500 where we can advise you on purchasing land, a home, or any residential or commercial property.  Our Realtors fall under a strict code of ethics and can help you make the best financial decision for your family!