Register Real Estate Advisors

Samantha Chelette walks you through some tips to maximize the sale of your home, even though it is a buyer’s market.

I am working hard to take my business to a new level.  With that said, it has been far too long since I posted to my blog.  I have been busy attaining my ABR (Accredited Buyer’s Rep.) Designation.  Then I got my certificate so I am a New Home Sales Representative.  Next Monday I will begin my ePRO Designation.  I feel the best way I can represent my clients needs will be through more education.  Just when I think I know it all…I learn something new.  Plus, things are changing.  If you don’t believe me, just look around.  Watch the National News.  Things have to change and I want to change with it.  I am prepared to meet the needs of my buyers and sellers in the future.  Many people in Real Estate are getting out because times are tough, but I am here to stay.  It’s a buyer’s market, but it won’t be forever.  Houston is still the most stable place in the country to buy a home, sell a home, and maintain employment.  I am a full service full time Realtor and I want to help you with all of your Real Estate needs.

Coldwell Banker United, Realtors has partnered with American Home Shield to provide a Home Warranty to both our Selling and Buying Clients. I always offer my clients the protection of an American Home Shield Home Warranty. Both Buyers and Sellers should insist on an American Home Shield Warranty because they are the founding and leading Home Warranty Company with over 35 years experience caring for customers. With over 1.3 Million Home Warranties Nationwide, and over 11,000 Contractors within their service network, they lead the industry in delivering innovative home warranty products to customers. When I list your house for sell, I pay for the home warranty for you from the time you list with me through your closing date. This protects your home while it is on the market which can protect you from investing more money into your home while you’re trying to sell. It lowers your cost for repairs that may need to be completed before closing and helps avoid delays on closing due to unexpected breakdown of systems. Having a warranty also attracts buyer and adds value to your home. It demonstrates an intent to sell your home in good working order and gives the buyer an avenue of restitution, other than you, should any covered systems break down after purchase. When I list your home, I will go over the contract and explain the warranty options available and help you decide which warranty best suits your needs. Your American Home Shield Warranty provides your buyer confidence before and after their home purchase. Should your home require service, repairs, or replacement of covered systems while it is under contract for sell, you the seller will only pay your service charge for each trade service call. (An example of a trade service call would be an electrician, another service trade might be a plummer.) Most buyers insist on a home inspection before purchase and want repairs made when necessary. In that instance, you would only pay the one time service fee. I promote the American Home Shield Warranty because it is a product that can save Sellers money and puts your home on a pedestal by making it appealing to perspective buyers in todays heavily inventoried market. This warranty will also make your home more competitive with newly constructed homes. With American Home Shield Warranties, you have the flexibility to create the plan that fits your individual lifestyle and budget.  This way you don’t pay for coverage you won’t use.

For my Buying Clients, I always negotiate a FREE home warranty for the first year. This protects you from the high cost of unexpected, covered repair expenses after you move into your home.

What is a Home Warranty? It is a service contract that covers the repair or replacement of many of the most frequently occurring breakdowns of home system components and appliances. Everything in the home is not covered, but most of the system components and appliances that break down frequently are covered. Your home is likely your biggest investment. Unexpected repair or replacement costs can strain your budget. Plus, a home warranty takes the hassle out of finding an approved and insured contractor to solve your problem. A home warranty cannot prevent systems or appliances from breaking down, but it can help make covered repairs or replacement easier and less costly for you.

Should you have a breakdown of your covered system or appliance American Home Shield is available 24 hours a day, 7 days a week, 365 days a year. America Home Shield is a company committed to and solely focused on providing you an outstanding customer experience. To request service on a covered item there is no need to call me, just call America Home Shield Directly at 1-800-776-4663 to speak to a customer service representative or go online to www.ahsservice.com.

Not selling or buying a home, but think your house needs a home warranty? Call me for a FREE Quote or go online to www.ahswarranty.com for more information.

Last year in Texas, AHS spent $57,973,407.00 honoring their service promise. Nationally, AHS spent over $297 million in 2006 to help protect their clients from the hassle f unexpected, expensive home repairs.

Why Coldwell Banker Mortgage? With a variety of products to choose from, they’ll help you find the mortgage that’s right for you. Coldwell Banker Mortgage is one of the top ten retail mortgage originators in the country. Coldwell Banker REALTORS are able to offer clients convenient mortgage resources both online, by phone, and through our office locations. Coldwell Banker Mortgage is an industry leader in originating mortgage loans over the phone and online. They offer Four to the Door, which is the easiest mortgage experience in the industry. The easy, four-step mortgage process, coupled with customer service guarantees and competitive rates makes them among the strongest in the industy. You can be pre-approved over the phone within four hours, even on a Saturday! By attaching your pre-approval letter, your offer suddenly becomes stronger and helps you in negotiating the best terms with a seller or builder. Despite current credit conditions, our mortgage company still has plenty of money to lend borrowers. So whether you are looking for a mortgage or a second opinion on your rate, we are here to support your needs. Our Mortgage Advisor at the Greater Northwest Branch is Melanie Chilek. Her email address is melanie.chilek@mortgagefamily.com. You can visit the online resource center at melaniechilek.coldwellbankermortgage.com or call our Greater Northwest Office at 281.655.2005. Tell her Shannon told you to call! Rates have not been this low since 2003.  It is a buyers market so make your move today!

Pre-Purchase Rate Protection

Pre-Purchase Rate Protection (PPRP) offered by Coldwell Banker Mortgage safeguards your rate no matter what. You’re protected whether rates go up, down, or stay the same. Every customer is given the opportunity to enroll in this unique program as soon as they have a mortgage pre-approval decision. PPRP is a service that safeguards your interest rate against market fluctuation. When you sign up, your interest rate will be capped according to where rates are at that time. No matter how high rates go, you won’t pay more that the capped rate. If rates go down, you’ll have a one-time opportunity to “float down” and lock in a lower rate before closing. No matter which way rates go, you’re protected. With Coldwell Banker’s Four to the Door program, buying a home is easy. Their four-step mortgage program starts with getting a pre-approval, then you and your REALTOR find a home for your family. Next, return documents and lastly, close on time. Call your Spring Real Estate Professional today for more information – Shannon Register 832.628.7355.

Four to the Door – The Four Step Mortgage Program

Step 1: Get Pre-Approved

• Guaranteed same-day loan decision – often Loan decisions are made within 20 minutes or less. When you are talking to your loan consultant, you can choose the Pre-Payment Rate Protection, which safeguards your interest rate against market fluctuations and gives you the option of locking in a lower rate if rates drop.
• Pre-Approval Letter – Once you are pre-approved, your letter will arrive immediately via fax or email, so you can begin house hunting.

Step 2: Find A Home

• Guaranteed to beat any lender’s mortgage price – Coldwell Banker Mortgage will beat any competitor’s rate and fee combination by $100 – or they will pay you $500. (Applies to all first lien conventional conforming mortgage loans. Customer must provide a complete and accurate system generated Good Faith Estimate, listing a specific lender’s name, that is dated the same day as the rate quoted by us. If such Good Faith Estimate indicates an equivalent or lower interest rate and closing costs package, for the same loan program that’s offered by us and we have verified the accuracy of the rate and fees listed then we will have the option of beating the lender’s total loan costs by $100 or paying the customer $500 when they close with that lender and provide us with a copy of the signed Note and Final HUD-1 Settlement Statement.)
• Call with a property address – The moment you notify them of the property address, they will order an appraisal (if needed) and send you a package containing important next steps. As soon as you have agreed on a price and signed the contract, call Coldwell Banker Mortgage.

Step 3: Return Documents

• Confirmation and Documentation – At this step, they will need you to verify the personal information supplied to them earlier, as well as any required documentation for closing.
• Loan Application Package – With this package, you will confirm the information you supplied during your pre-approval process. Just review the papers and make any necessary changes and sign and return in the overnight envelope provided.

Step 4: Close on Time

• Guaranteed to meet closing date – Because you selected Coldwell Banker Mortgage, they will meet your closing date – guaranteed – or they’ll reduce your interest rate by 1/8 of one percent for the life of the loan. (Approved, conventional, purchase loans only. Customer must provide all required documentation.)

Mortgage Options

Once you have been pre-approved for a mortgage, you need to decide which type of mortgage to get. This decision is usually based on the interest rate of the loan and how much time you’re given to pay the lender back. The interest rate is the percentage of the loan the lender earns for lending you the money.

• Fixed Rate Mortgage

This is the traditional method of financing a home. The interest rate stays the same for the entire term of the loan – usually 15 to 30 years. This means that the interest and the principal portions of your monthly payment remain fixed. With a Fixed Rate Mortgage, your payments are stable and predictable, but initial interest rates tend to be higher with a fixed rate than with an adjustable rate.

• Adjustable Rate Mortgage ARMs)
  

The interest on an Adjustable Rate Mortgage is linked to a financial index, such as a Treasury Security, so the interest rate fluctuates with changes in market conditions. With an adjustable rate, your payments will vary over the life of the loan. Most Adjustable Rate Mortgages have a lifetime cap on the interest rate increase to protect the borrower.

The advantage of an Adjustable Rate Mortgage is that it offers lower initial payments and this makes it easier for buyers to qualify. Some Adjustable Rate Mortgages may be converted to Fixed Rate Mortgages at specified times, usually within the first five years.

You are not limited to Fixed Rate and Adjustable Rate Mortgages. Currently, there are over 50 different mortgage programs available. Here are a few:

1. 15, 20, & 30-year Fixed Rate Loans
2. New Construction Financing
3. VA & FHA Loans
4. 5 & 7 year Balloon Loans

• VA Loans & Coldwell Banker Mortgage

VA loans through Coldwell Banker Mortgage are cheaper than going through other lenders because Coldwell Banker absorbs costs that the seller usually has to pay. It is a smooth closing because Coldwell Banker has no loan conditions that must be satisfied at closing. If you’re looking for an easier way to buy a home, you’ve come to the right place! Our local Mortgage Adviser will review your needs, suggest financing options to meet them and take your application for a pre-approval loan decision – in person or over the phone. She has twenty years of experience and will ensure that one of the biggest and most important purchases you’ll ever make will also be one of your easiest. Plus, Melanie and Shannon both have personal experience with VA Loans. They know what it means to serve!