Austin Real Estate Blog - Austin Housing Market Blog

Make Small Repairs To Raise Your Home Sales Price

home repairs t raise sales priceIf you're preparing to list your Leander home for sale, please resist the temptation to make major home improvements. Major home improvements can end up costing you more than double your original budget. Additionally, you will be dealing with the mess yourself, and more importantly, delaying how soon your home is shown to potential home buyers in Leander. Rather, for a better return on your time and money, focus on minorprojects instead - especially your "honey-do list." It's the smaller projects that tend to have a bigger, long-term payoff.

Start Thinking Like a Home Buyer!

So, how do you determine which projects are the "smaller ones"?...

What is a Financing Contingency?

financing contingenciesA Financing Contingency, in basic terms, is a clause in the home Purchase & Sale Agreement which allows a homebuyer the time necessary to apply for, and obtain financing for a new home purchase.

Not all home financing contingencies are created equal however. Depending on the region and local real estate customs, such contingencies can vary greatly, particularly when non-MLS forms or addenda are used, or other local or state promulgated forms are not used - for example, when an attorney creates the contract, or when a home builder's purchase and sale contract is utilized instead.

Thus, it is critical for a home buyer to understand the precise meaning of the financing contingency, how it relates to ...

Be Smart When Buying a Foreclosed Home

Hot DealsA Foreclosure Does Not Equal a "Good Deal" By Default

With the events of the past few years, it's understandable that the home-buying public equates a "foreclosure" to a "good deal". But the fact is, that a foreclosed home deserves a much higher level of scrutiny - not only in terms of the market value, but also the property's condition.

You should never approach the possible purchase of a foreclosed home as though you are getting a "good deal" - that is unless the numbers truly indicate it is in fact a sound investment, compared to other homes. Always, be smart when buying a foreclosed home!
 

Old School Sales Tactics - Do You Have the...

Leasing Or Buying Car May Affect Mortgage Loan Approval

Be Cautious When Buying a New Car Before Applying for a Mortgage

It is quite often the case, where a prospective new homeowner also decides to purchase a new car before buying a home. I have worked with several Seattle area home buyers recently who needed to purchase a car before moving to a new state. I always caution home buyers about the potential pitfalls of buying a new car where it concerns their credit and debt to income ratios. Surprising to most, there can also be a hazards when paying off a car loan before applying for a mortgage.

There's plenty of online material to help you choose your optimal path, but this 3-minute piece from NBC's The Today Show serves as an excellent summary. In it, you'll learn about the basics of leasing a car, and for whom leasing can be a great fit. You'll also hear reasons to avoid...

Paying Credit Card Balances Before the Statement Date - Applying for a Mortgage

credit cards and mortgagesBuying a new home and applying for a mortgage? For the next 2-3 months, you should consider paying off your credit card balances in full just prior to the "statement date."

Why???

Yes... yes... I know, you proudly pay all your balances in full, and you carry no debt. So what's the problem? Why on earth would you want to pay your balance before the statement date?

Because if you don't, your credit card charges and balance as of the statement date will be reported to the credit bureaus. Thus, even if you always pay your statements in full, carry no revolving credit card debt, and never pay any interest, as far as the credit bureaus (and potential creditors) are concerned, it "looks like" you are carrying...

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