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Home Buyer Information Category

Spring Texas Real Estate Taxes – Top 3 things you need to know

Top 3 things you need to know about Spring Texas real estate taxes: 1.  You did NOT file for your homestead exemption at closing.  Although you signed a pile of documents when you closed on your Spring Texas house, the homestead exemption form was not one of them.  You can only file for the homestead exemption between January 1st - April 30th of the tax year.  If you are uncertain if your account has a homestead exemption, then go to either the Harris County Appraisal District website or the Montgomery...Continue Reading!

There’s more to consider than just your commute to work

Would your annual transportation costs be less if you lived in a home in Magnolia or in Spring Texas?  A tool named Abogo can help you answer the question.  I used Abogo to calculate the monthly transportation costs based upon the address of our Prudential Gary Greene offices at 8817 Louetta Spring Texas.  According to Abogo, the monthly transportation costs is $849.    Abogo considers more than just your commute to work in its calculation. It also calculates the trips made for personal/family business, shopping, and other social/recreational trips.    You can give Abogo a...Continue Reading!

Life’s good until …. Shortage in the escrow account

18 months ago you bought a new construction home in Spring Texas. You moved in, bought new furniture, painted a few rooms, and made it your home. Life was GOOD!  Until the day you received a notice from your lender, demanding $9,000 due to a shortage in your escrow account. Your first reaction is what the heck?!?  This has to be an error because this can't be right. You have been paying into your escrow account every month. How can it now be short $9,000? At the time...Continue Reading!

What the heck is a QR code?

Have you heard about QR codes?  If you haven't, you will soon. Ralph Lauren, Pepsi, Coke, and McDonalds have been using QR codes in their advertisements in Japan for years.  But 2011 will be the year QR codes finally invade the U.S. A QR (Quick Response) code is a 2 dimensional code that is readable by smart phones.  You simply download a QR Reader APP on to your smart phone, point your phone at the QR code,and you're redirected to a website containing information on the product...Continue Reading!

New home for Christmas?

Did you get a new home in Spring Texas this year for Christmas?  If the answer is yes, then Congratulations!!! Hopefully, you are starting to win the battle against what seems to be the never ending pile of boxes and soon will be settling into your home.  But before you get too settled, you need to add one more thing to that "to do" list.  You need to have the lock's rekeyed on your Spring Texas home. Yes, the sellers may have seemed really...Continue Reading!

If only I had a dollar for every time ….

How would you complete the blanks ... "If only I had a dollar for every time ____  _____  _____, I would be rich!"   Mine would be ... "If only I had a dollar for every time I was asked will the seller take less, I would be rich!  If I included the times I was asked a variation of this such as:  "Is the seller willing to negotiate?" or "How firm is the seller on his price?" or "Will the seller come...Continue Reading!

Where are mortgage interest rates headed?

I wish I had a crystal ball that I could gaze into and ask the question "Where are mortgage interest rates headed?"  But since I don't I will have to refer the question to the National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA). Both the NAR and MBA agree that mortgage interest rates are headed up and not down over the next several quarters.  How much they are headed up depends upon whether you believe the NAR or the MBA...Continue Reading!

FHA and VA minimum credit scores increase

Have you already been pre-approved for an FHA or a VA loan but you haven't found the right Spring Texas home yet?   The bad news is that as of November 1st, 2010, you may no longer be pre-approved. Why??  Because many investors are increasing the minimum credit score requirements on FHA and VA loans from 620 to 640.  It was just earlier this year that minimum credit score requirements increased from 600 to 620. Can the lenders / investors cancel your...Continue Reading!

What is a split floor plan?

In a Spring Texas home with a split floor plan, the home's bedrooms are not all located together.  The master bedroom is located away from the secondary bedrooms. Click on the photo to the right to view a split floor plan. Homes with split floor plans are popular with buyers because the separation between the bedrooms provide privacy and a noise buffer.   Read also: Why do 1-story Spring Texas homes cost more per square foot than two-story homes? What's the useful life of a home's components? What stays and what goes with...Continue Reading!

How lower interest rates increase your buying power

Mortgage interest rates for loans on Spring Texas homes have been sitting at historical lows for quite a while now.  Back in 2003 which is not that long ago, mortgage interest rates were 6.25% while today's interest rates on 30-year loans are 4.25%. The lower the mortgage interest rate the more buying power you have. But the interest rates can't stay this ridiculously low forever.  They are going to have to head back up. Before mortgage interest rates are back in the 6% range, it's time for a...Continue Reading!