Ready to buy a home?

With all this recent rain I have seriously been considering installing a rain barrel. I love the idea of collecting rainwater for future use and minimizing our water bill so I started to do a little research. Overall it is very affordable. You can purchase one ready to be installed for less than $100. In fact the city of Houston sells them once a year for $69 ( http://www.rainbarrelprogram.org/houston ) I will probably go that route but it looks like it quite easy to make one as well. The EPA provides step-by-step instructions: http://www.epa.gov/region3/p2/make-rainbarrel.pdf There are quite a few benefits to installing a rain barrel. One of the biggest one for us is minimizing erosion near the foundation. It’s better to collect the water and not have it sit or erode the soil around your foundation. TOP 10 REASONS TO INSTALL A RAIN BARREL: 1. Rainwater is better for your plants and soil.  Rainwater is highly oxygenated, free of the salts, inorganic ions, and...

Do you need a Realtor when buying a new home? You can buy a new home without a Realtor but there are a few things you should keep in mind: 1. An agent's services are free to the buyer. Why not use a Realtor? An experienced buyer's agent will save the buyer money, builders do not discount the price because the buyer has no representation.  2. The on site sales representative represents the builder. Their loyalty is to the builder. If the on site sales representative insist on you not having a Realtor, you should ask yourself why? If they have nothing to hide then there is no reason to have someone looking out for your best interest. 3. A typical home buyer may purchase 1 or 2 homes in their lifetime. A buyer's agent does this for a living and has been involved in many different types of transactions. This is knowledge you need on your side.  4. A buyers agent is more than some one with keys to a home. We guide you through the entire buying proces...

A home inspection is an important step in buying a home. As part of your purchase agreement you may add an inspection contingency for a small price (typically $100-$150 for 7-10 days). This contingency will give you the ability to inspect the property and back out of the offer, free of penalty (except the option fee), if you don't like the results. Although a home inspection can't identify everything that might be wrong with the property; they specifically look for visual cues to problems. For example: if there is a small leak in the wall but there are no visual signs of such leak, this issue might be overlooked.  A good inspection will examine some of the most important components of the home and it will last from 2-3 hours. Ask your home inspector for a list of items that he/she will examine. The inspection report will give you a general idea of what might be wrong with the property. If you are concerned about a specific issue, you should hire a specialist in that area....

Are you ready to buy a home? Have you been pre-approved? We are now in a seller's market which makes the home buying process very competitive. Multiple offers on properties are becoming more common so it's crucial for buyers to be prepared. Any small advantage, may make the difference between being accepted or denied. If you plan on financing your property it is important to get pre-approved for a loan. There is a difference between pre-qualification and pre-approval. A pre-qualification can be done by phone and most, if not all, the information provided is verbal. A Pre-qualification is based on what you disclose to the lender about your earnings, credit score and assets. A pre-qualification gives you a simple idea of the range of price you might be able to afford. This carries no weight for a seller. A pre-approval requires a borrower to provide documentation of their income and assets. The lender will also run a credit report and score. The bank will require tax docume...

Are you financially ready to buy a home? Your cash There are several expenses incurred when buying a home. These are expenses that must be paid before, at closing and after. It’s important that you have these funds ready and available once you start the process. Some of these funds may be gifted but check with your lender. Some lender will ask for a letter stating that the funds are a gift and not a loan. Below you will find the closing costs for a home purchased for $150,000.00 and using an FHA loan.* This is just an estimate. Exact figures will vary based on your closing date, lender and title company. Home Price - $150,000 Down Payment - $5,250 Interest Rate - 3.750% PITI (principal, interest, taxes and insurance) - $1,238 Prepaid costs:   Prepaid items are always required at loan closing, whereas escrow accounts are only required in certain cases. Even if you close your loan right before the month's end, you owe your lender at least a few day...