5 Tips for Beginning Your Home Search


5 Tips for Beginning Your Home Search

 

The home-searching process can be a lot of fun. You look at homes and imagine yourself living there with all your furniture set up, having family and friends over, and relaxing on a Friday evening in the living room with your favorite show on the TV. With all this excitement, your mind may (understandably) be in the clouds, however, there are important things to remember when searching for a home.

 

Below are five of our favorite tips:

 

Become Pre-Approved for a Loan

Lety Service, a sales associate with Ebby’s McKinney Office, recommends that potential buyers speak to a lender before looking for a home so they know exactly what price range to stay in. “It’s devastating to fall in love with a home only to have a lender tell you later that you can’t afford it,” she says. “If you are pre-approved first, you will find a home that you love and will be able to obtain financing within your price range. This will prevent the disappointment of comparing a home in your available price range to one that you aren’t qualified to purchase.”

 

Be Organized

During the process of buying a home and working with your lender, you will be asked to provide information and documentation. Have your W2s, pay stubs, bank statements and ID ready to give to your lender. After review of these documents, the lender may require additional information. You will also sign documents throughout the loan process. Getting your home inspection will be one of your first steps after submitting a purchase contract. Also, scheduling the following services to be placed in your name with a start date will need to be on your list: electricity, Internet, phone, cable, water, and gas. Organize what days you will devote to each task and the process will run smoother.

 

Keep Options Open

Lety advises future homeowners to start with an open mind because they might fall in love with something they didn’t think they would and to focus on the floor plan and location instead of cosmetic upgrades. “Looking at multiple houses in person, instead of online, will give you an idea of what you definitely like, don’t like, and maybe even some things you could settle for.” Keep in mind if you find a home with a perfect floor plan but can’t stand the carpet or countertops, you may be able to do a home-improvement loan and roll the costs into your mortgage.

 

Avoid New Lines of Credit

Debra Smith, a loan originator with Home Team Mortgage, advises that when you decide to start looking for a home you should avoid taking out new credit or making large purchases on credit. “This is especially important once you are in the middle of your loan process,” she says. “Any new account could affect your ability to qualify for your loan and cause you to lose the home that you may be a week away from moving into.”

 

 

Opt for a Bridge Loan

Are you a current homeowner looking to purchase a new home? If you want to use your current home equity to put down on your new home, the sale of your old home must close on or before the closing date of your new home. This makes everything time-sensitive and there is always a chance the financing of your buyer could fall through. Smith says a “bridge loan” may be the ideal solution for you. “You can use a bridge loan to use the equity in your current home even before you put it on the market,” she says. “So if you don’t want to sell before you move, or you don’t want to make your offer contingent on selling, our bridge loan may be just right for you.”

 

Considering purchasing a home? Home Team Mortgage Company, Ebby Halliday’s affiliated mortgage company, has a track record of building long-lasting relationships by providing exceptional service with competitive rates. With an office in each Ebby Halliday branch, Home Team Mortgage loan officers offer the convenience of one-stop shopping, coupled with expertise to ensure peace of mind for borrowers and agents alike.

 

For all your mortgage questions and needs, contact Home Team Mortgage Company.

 

 

 

Now Is the Time to Find Your North Texas Realtor


Now Is the Time to Find Your North Texas Realtor

 

The North Texas region’s attractive quality of life, strong economy and low cost of living ensure D-FW will continue its steady rise to prominence among the world’s leading metropolitan areas in 2017. If you want to join in on the fun as a North Texas home buyer or seller, now is the time to start looking for a Realtor.

 

This process is different for everyone, but below are a few things to keep in mind:

 

Experience – Look to agents who have put time into their career and the neighborhoods in which they work. This can mean different things, like trusting someone who has spent years in the business or someone who grew up in the area.

 

Personality and Interests – Try to do some background work on a potential agent. Many have bio pages, LinkedIn accounts, social media pages, and online reviews. All of these can be helpful, but remember that not having one or the other doesn’t have a direct correlation to how “good” a Realtor is.

 

Career type – Is being a Realtor the person’s full-time career? If you’re on a time schedule, you’ll want to pick someone who’s in the industry full-time.

 

The numbers – If you’re a buyer, don’t choose an agent just because their commission is lower. If you’re a seller, don’t choose them just because they agree with you on how much your home should be listed for. We’ll say two things to justify these points – you get what you pay for, and, in real estate, there’s no telling how much your home will really and truly sell for at the end of the day.

 

Age – Don’t dismiss an agent based on their age, young or old. What makes an agent the right fit for you is not often their age, but their love of their profession, dedication to you, and the points listed above.

 

Need a good place to start looking? Check out our office locations and search all of our wonderful Realtors at Ebby Halliday Realtors, the No. 1 independently owned residential real estate brokerage in Texas.

 

Texas Attracting More Moving Trucks


Texas Attracting More Moving Trucks

 

Two of the country’s leading moving firms agree that Texas was near the top of their migration list in 2014.

 

Texas ranked second in the country for total household moves with Atlas Van Lines in 2014 .

 

California edged out the Lone Star State with 13,967 Atlas moves compared with 13,137 moves for Texas. Florida was third with 10,226 moves.

 

Atlas said more than 55 percent of its business in Texas was shipments coming into the state. Texas was one of only 10 U.S. states where Atlas had more inbound shipments than moves out of the state.

 

United Van Lines ranked Texas seventh nationally for inbound moves in 2014.

 

Oregon was United’s top state for inbound shipments, with 66 percent of the mover’s business to the state coming from outside.

 

United says the states with the largest percentage of outbound moves last year included New Jersey, New York, Illinois and North Dakota.

When is the Right Time to List a Home?


99696632

 

When is the right time to list a home in Dallas-Fort Worth? Simply put, NOW!

 

How hot is the North Texas market? Check out these year-over-year numbers for March from North Texas Real Estate Information Systems:

 

*  Average days on the market were down 22.9% to 64 days.

*  Median sales price was up 9.7%.

*  Percent of original list price received was up 1.6% to 95.2% of asking price.

*  Finally, closed sales were up 11.1%.

 

With rising sales prices, few homes for sale and interest rates still at historic lows, the spring of 2014 offers the ideal conditions to sell a home in D-FW. Competition among buyers for well-priced listings is heated, with multiple offers on properties common in many area neighborhoods.

 

To learn more about the market in your neighborhood, contact an Ebby Associate today. To get started, visit the award-winning ebby.com.