Register Real Estate Advisors

Are you a medical physician looking to buy a home?  Did you know there are loan programs out there that are specialized to help meet your financial needs?  The Bank of Texas Mortgage Group offers a Physician’s Loan Program that recognizes the special financial needs of buyers in the medical field.  Some benefits of these loans include 100% Financing, No Private Mortgage Insurance (PMI,) Fixed or Adjustable Rate Loans, 15 or 30 Year Mortgages, and special consideration on student loans on your credit.  These loans are available to medical doctors, medical residents, full time medical instructors, and more.  Contact your RREA Realtor today to see if you qualify.  Then we can help you find the right property to meet your needs anywhere in the Houston area.  Call us today at 281.288.3500.

With housing interest rates still at historic lows, now is a great time to apply for a mortgage.  At Register Real Estate Advisors, we have an in house lender that can get you pre-approved for a mortgage.  You can complete our secure online application at RREA.com by following the “mortgage” links.

Currently, 30-year, fixed-rate mortgage rates are below 5%, according to Freddie Mac—among the lowest rates recorded in 40 years.  As recently as June 2007, those rates were almost 7%, and they were in the double-digits a little over 20 years ago.

Why are interest rates so low?  Much of it is due to the recent recession and its aftermath.  With the economy in the dumps, demand for loans went down.  At the same time, investors were looking for safe places to put their money.  Many investors moved away from stocks and towards fixed-return investments such as U.S. treasury securities and mortgages.  The Federal Reserve increased funds in the financial system to keep interest rates low and to support the mortgage market.  The combination of weak loan demand and the influx of funds translated into low interest rates on mortgages and other loans.  This is a great advantage for home buyers that have good credit.

Since the middle of 2009, the economy in the United States has gotten better, but the recession did not end quickly and continues to drag on.  The economy is still in the early stages of recovery.  The interest rates will probably go up over the next two years, so homeowners should take advantage now.  Why aren’t more taking advantage now?  Some don’t have good enough credit to get a loan, while others have lost their jobs and no longer have the stability of income to purchase.  Others are afraid of how long the recovery of the economy will take, so they don’t want to commit to a new mortgage.  If you have a good income and good credit, this might be the best time to purchase a home.  This opportunity will not last forever because as the U.S. economy rebounds, demand for loans will rise.  When the Federal Reserve sees that the economy is in better shape, it will probably take away the additional liquidity it has injected into the financial markets and interest rates will rise in the not too distant future.  Most consumers do not realize that when interest rates go up, the effect on monthly payments can be dramatic.  A $200,000, 30-year, fixed-rate mortgage with a 5% interest rate has a monthly payment of around $1,000.  At 6% the monthly payments increase to about $1,200—an increase of nearly $200 a month.  Total interest payments over the life of the loan increase by thousands of dollars.

Home prices have stabilized or even started to inch upwards in many markets, so it is unlikely prices will drop any more.  Not could be the best time to purchase a home in American History.  To find your dream home anywhere in the Houston area, call RREA today.  We have highly educated, experienced agents, that can help you find the home of your dreams and protect you in the purchase of one of your largest investments.  Call us to day to get started – 281.288.3500.

As a buyer, you and your real estate agent should walk through the home your are purchasing before going to the closing to sign the documents.  This is your last opportunity as a buyer to be sure the home is in the same condition it was in when you first viewed it.  This is a visual inspection of the property you are about to purchase.  If you are buying a new construction home, your builder should do the walk through with you so that they can repair anything that is not correct.  This is your final inspection before  the purchase.  When you are purchasing new construction, this is also a great time to learn about your new home.  The builder can explain the details of the home that you may not be familiar with.  Knowing these details should help you know what to do to maintain the home and keep it up.  The builder should also go over warranty coverage and procedures for repairs as they come up in the future.  The builder will provide you with a book or packet of information about your new home.  If it is a resale home, the best you can hope for is that the previous owners left instruction booklets in the home.

When you purchase a resale home, the owner usually provides you a one year warranty on the home through a home warranty company.  New homes usually come with a one year warranty as well, and a longer warranty on the structure of the house.  However, usually no warranty will cover items that have not been maintained properly by the homeowner.

During your walk-through be sure to look at all the walls and floors for possible damage.  Also check out the fixtures, counter tops, and air conditioning system.  Your Realtor or new construction builder will usually ask you, the buyer, to sign a form stating the home is in acceptable condition for move in.

Do you have your new year’s plan in place?  Do you have plans to relocate, upsize, or downsize? The first quarter of next year in real estate in the Houston, Tx area looks good.  Spring, The Woodlands, and Montgomery county areas, is especially in a good position for growth. The construction of Exxon’s new headquarters, new corporation relocating to the area.  I believe you’re going to see a sufficient demand for house’s in these areas.  This will be a good time to list your home for sale. As you know as demand increases, so do the prices.  This may be the time to get a good price for your home, and still be able to purchase home for reasonable amount.

Terms – This is one aspect of your Real Estate transaction that is the most over looked.  Whether you want to negotiate a deeper discount on the price or you would like to have the seller make more repairs than they are willing to.  These are terms of the transaction and whichever side I represent you on…. Terms Rule…. Your interests are the reason we are in Business and as my client I will use my Expertise/Experience as a CNE (Certified Negotiation Expert) Designated Realtor in guiding you through the best possible Real Estate Transaction.

COLLEGE STATION (Real Estate Center) – Sales of existing single-family Texas homes in November were up 9 percent from a year ago, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.

More than 15,000 homes were sold, data showed. The median home price was $147,600, up 1 percent from a year ago, and the state’s overall inventory was at 6.6 months.

November 2011 MLS data for many Texas cities are available on the Center’s website. Here is a sampling (data current as of Dec. 15, 2011):

WASHINGTON, D.C. (NAHB) – December marked the fourth month in a row that the National Association of Home Builders/First American’s list of improving housing markets expanded.

The improving markets index (IMI) rose from 30 to 41 markets. Eight of those are in Texas: Amarillo, Corpus Christi, Laredo, McAllen, Midland, Odessa, Sherman and Tyler.

While 20 markets (including Laredo) were added to the IMI this month, nine were dropped. Among them was Waco.

The index identifies metropolitan areas that have shown improvement in housing permits, employment and house prices for at least six consecutive months.

COLLEGE STATION (Real Estate Center) – Foreclosure activity in Texas was down last month, according to the latest figures from RealtyTrac.  November foreclosure filings for the Lone Star State totaled 10,124, down 24.3 percent from a year ago. Total year-to-date (YTD) filings were at 115,222, down 18.9 percent.  Nationally, there were 224,394 filings, down 14.5 percent from November 2010. Total YTD filings were at 2.5 million, down 30.1 percent.  There were 6,247 posted foreclosure sales in Texas last month, down 19.1 percent from a year ago. YTD postings were down 17.3 percent, at 69,473.  Meanwhile, there were 96,540 posted foreclosure sales nationally last month, down 38.3 percent from last year. YTD postings were at 994,887, down 33.2 percent.  Real Estate Center Research Economist Dr. Jim Gaines said the impact of foreclosure moratoria from the pending agreement with states’ Attorneys General slowed foreclosures for all of 2011. But that will likely mean more foreclosure activity going into the new year.  “The pent-up foreclosure processing is expected to bust loose in 2012, so we expect to see significant percentage increases in the monthly reports for at least the first half of 2012, if not the whole year,” he said.  But that’s nationally. Gaines said Texas should fare better.  “Posted delinquencies here are falling, and Texas is a non-judicial foreclosure state, so many lenders haven’t stopped processing foreclosures, thereby preventing a backlog from forming,” he said.

I get a lot of questions about refinaincing homes.  Many people will contemplate refinancing vs buying another home.  With interest rates remaining near historic lows it is a great time to purchase a home.  However, if you prefer to stay in your current home, it is only worth refinanancing, in my opinion, if your current rate is over 5% and you plan to stay in the home for atleast two years.  If you need to refinance your home or get a pre-approval to buy a home, our RREA inhouse lender can help.  You can apply for a mortgage online with RREA or call 281.288.3500 and ask for Terry Traylor. 

WASHINGTON, D.C. (U.S. EPA) – The Gulf Coast Ecosystem Restoration Task Force yesterday released its final strategy for long-term ecosystem restoration for the Gulf Coast, following extensive feedback from citizens throughout the region.

According to a press release from the Environmental Protection Agency (EPA), this ”marks the beginning of the implementation phase of the strategy by announcing new initiatives, including $50 million in assistance from the U.S. Department of Agriculture’s Natural Resources Conservation Service to help agricultural producers in seven Gulf Coast river basins improve water quality, increase water conservation and enhance wildlife habitat.

“USDA’s multi-year environmental restoration effort, known as the Gulf of Mexico Initiative, or GoMI, represents a 1,100 percent increase in financial assistance for Gulf priority watersheds.”

The EPA said this the first restoration blueprint developed for the Gulf to include input from states, tribes, federal agencies, local governments and thousands of citizens and organizations across the region.