If you or someone you know is afraid you have waited too long to take advantage of the $8000.00 home credit, never fear! There is still time if you can take care of these items really soon.
Pre-qualify - You should get pre-qualified with a mortgage lender through a bank such as People's Bank or a mortgage company such as Prime West. This is not painful - takes maybe 30 minutes of your time. Some are worried that their credit score may prevent them from qualifying. Regulations have made your credit score more important and some people who have too much debt or a history of late payments may not qualify right now. It is better to know than to deal with the doubt and fear. I would hate for anyone to pass up the opportunity to own a home simply out of fear of what might be on their credit report. If problems do surface, your bank or mortgage professional has seen it before, and can give you tips on how to improve your credit score.
Review your budget - Decide what you can reasonably afford to pay monthly and how much you can pay down on your home. Most first time home buyers finance through FHA and the minimum down payment is 3.5%. Additionally, there are closing costs. These funds may be your savings or possibly a gift from a family member. In some cases the seller of a home is willing to pay some of your closing costs to assist you in the purchase of their home. Armed with your own research, you and your lender can determine the maximum price home you should consider.
Consider your now and future needs - Do you need a two, three, or four bedroom home? Do you have children or parents living with you or know that your family size may increase in the next few years? It is good to purchase a house that gives you room to grow. Experts estimate that a buyer should plan to live in their home for 5 - 6 years if they want to break even or make a small profit when they sell. Make a list of desired features and decide which five are the most important to you.
Call me - I can help you with research and find you a home that stays in your budget. Custom searches of the homes in the multiple listing service can be done and the results emailed to you. If you provide me with your needs, wants, top five features I can save you a great deal of time by previewing, screening, and eliminating homes that don't meet your needs or would bust your budget.
For first time home buyers the magic date when the $8000.00 tax credit goes away is November 30. Be aware that it could take a few weeks to find the home you want and then it takes around 30 days for the closing process to run its course. So please email or call me today if you are motivated to get into a new home by that time. My assistance costs you nothing and I am glad to answer any questions you may have.
If you are not a first time home buyer but know someone who would be, please forward this to them. For those who currently own homes, all this information, except for the incentive and deadline, still applies. I'd be glad to help you move-up, down size, or find an investment property.
Oh my goodness, we now have 41 homes for sale in the Tech Terrace area! There are fixer-uppers starting as low as $65,000.00 and gorgeous estates for just under $1 million. And luckily for most buyers there are lots of great homes that fall somewhere in between.
Price range Homes Available
Under 100,000.00 9
100,000 - 150,000 6
150,000 - 200,000 7
200,000 - 250,000 10
250,000 - 300,000 2
300,000 - 400,000 3
400,000 - 500,000 2
Above 500,000 2
Mary's Picks - Please check out these homes that I think are the best of the best for sale in Tech Terrace right now.
MLS 9963827 - 3323 20th Street - A beautiful home with Austin Stone exterior. 3/3/2, 2764 sq. ft. Beautiful inside. Kitchen is not large but completely updated with granite. $229,900.00
MLS 9966344 - 3101 20th - History plus completely updated. Built in 1938, updated throughout in the last few years, this home captures the essence of Tech Terrace. 3/2.5/4, 2960 sq. ft. $299,000.00
MLS 9966614 - 2620 31st Street - A cute bungalow, mature trees, with apartment out back. House and apt. have been remodeled and are move-in ready. 3/2/0, 1312 sq. ft. $139,900.00
Tech Terrace as a neighborhood and Tech Terrace homes have tremendous appeal. I've found though that the appeal is not universal. For those who have a romantic notion (and I don't mean huggy kissy) of what home should be, Tech Terrace is delightful.** This is a neighborhood where you can walk to the park or the coffee shop, greet neighbors, move at a slower pace, and enjoy a concert in the park at 26th and Boston. You can walk or bike to TTU. The homes are often described as "charming" and said to have "character". While some are fixer uppers, others have already been completely updated with great panache. However, even if extensive, this updating does not make a Tech Terrace home into a new home. Much of the appeal would be lost. If the words historical, charming, mature trees, character, retro, vintage, or distinctly different ring your chimes, then please let me show you some Tech Terrace homes.
Shopping for a home in Tech Terrace is a quite different experience from looking at new construction. For individuals who want the expected 3/2/2 brick home with a large walk in closet in the master, an open concept, and granite countertops a new home might fit the bill. You won't find a new home (or very rarely) within biking or walking distance of Texas Tech.
Those searching for a home in Lubbock are going to have to make a choice. If you want to be near TTU, the hospitals or just in central Lubbock you will be looking at homes built from 1920 through 1970. If you want a new home or home built since 2000 you will almost certainly be looking at newer subdivisions that are outside Loop 289, typically in South or West Lubbock. There are now some new subdivisions North of the Loop that are closer to central Lubbock.
If you are in town and have always wondered about homes in Tech Terrace, call me and let's go look. If you are out of town and would like more information about this area I can help you. Call 790-1026.
REALTORS from elsewhere - I love establishing referral relationships with agents in other cities who have folks coming to Lubbock. Please call me!
** I fall into this category. Here is my Tech Terrace story. Seven years ago I picked up my granddaughter from swim lessons at the Texas Tech rec center. We were driving through the Tech Terrace neighborhood when I saw a charming home for sale by owner. It was unpretentious but lovely with a lush lawn and one enormous oak tree. A desert willow on the east side of the home branched out to the street. My granddaughter snagged a bloom from the tree through the sun roof. I think she and I both fell in love with that home. I watched it for awhile, set an appointment to see it even though it was out of my range but the appointment fell through. A month later the home was listed with a REALTOR. (I was not in real estate at that time) A month after that a 'REDUCED' sign was posted and soon after we bought the bungalow on 22nd.
A note I received from Charles McMillan, 2009 President of the National Association of Realtors, made my heart sing. Well, at least it lifted my spirits.
He said...
"On Monday, June 29th, I will be in New York to meet with the Deputy Attorney General and his staff who worked directly on the Home Valuation Code of Conduct. I plan to share our concerns, as well as your stories, and ask for their assistance in resolving any problems related to the HVCC."
I have had three, actually four, recent transactions here in Lubbock where low appraisals caused lots of pain and angst. The pain has been shared by buyers, sellers, REALTORS, and home builders. I am pleased that in each case we were able to negotiate and make it to closing, but people lost money.
I believe most if not all the appraisers involved are hard-working and honest professionals but there has to be some common sense allowed in the process. My hope is that a new method of valuation can be developed and used in times of significant market shift.
I met the criteria and applied to be an apprentice for our Keller Williams ALC - the agent leadership council of our office. Debbie interviewed me and I enjoyed contemplating what I might have to offer. I hope to be able to offer something - I do occasionally have a good idea. :-) Maybe I'll be a good "boomer" age group apprentice.
Debbie pulled me aside before I left for San Antonio and let me know that I'd be one of two new apprentices. Yea! It doesn't pay anything but I'm pleased to take a more active role in our office. I will attend a 'launch' training with the other ALC and apprentices, the broker, team leader and owners in Austin this June. I'm looking forward to that.
When I stopped by the office last week I found a certificate on my desk. I was totally surprised to find I was Rookie of the Year for 2008 for Lubbock's Keller Williams office. I have loved my first year and a half in real estate. I need to frame that to go with my GRI certificate.
Oh...by the way, I graduated, passed my test, and am now a Graduate, Realtor Institute.
I hope you are having a great day with family and friends. We had a hotdog cookout and swimming party which was well attended. A good time was had by all.
Next week I have two closings - tentatively. One is still pending the final appraisal to see if the house appraised sufficiently. If all is okay there and if the lender can get everything together, we will close on Wednesday at Lubbock Abstract and Title. My first HUD closing is set for the 28th and the closing will either be at City Bank or at our Keller Williams office.
Next week I have my first VA closing. It is set for June 1 and I have let Service Title know that it will be a mail out for the sellers. Nice home for the buyers in a relatively new southeast Lubbock neighborhood.
All this is wrapping up a nice busy spell for me in the real estate biz. I am excited to have the three closings, grateful for the good business, but also looking forward to a breather. I'll take a day or two off with the grandkids. They are out of school as of this Friday.
TECH TIPS
MOZY - I learned about Mozy in my GRI class. It is an online service that will automatically back up your computer files and data. From brief research it looks like the least expensive program is 4.95 per month. The peace of mind and ability to recover all your date in event of a virus or crash would be well worth 4.95. A similar service I'll check out is Carbonite.
I am taking my final GRI class in San Antonio. Dwight Hale is the instructor and he is great. More later...
Later. It is now Memorial Day but I did want to finish my thought and report about my GRI class in San Antonio. To reiterate, Dwight Hale was great. But mid-afternoon of day one of the subject of technology had me coming close to sawing logs. The info was a bit dry. Day two was lots better. He had each group of students develop a list of favorite websites. This could be business or personal. Here are a few of the ones that were shared:
Mozy.com - backup computer/data
Costco.com - computer shopping, good warranties
easysite.com - build personal, family websites - easy breezy
neighboroo.com - Neighboroo lets you visually explore and search local trends across the nation including real estate
loopnet.com - commercial properties
Each group also shared some favorite new technology related purchases. Here are some of those highlighted:
Neat Receipts receipt scanner
Parrot speaker phone for Auto - a universal bluetooth solution
Livescribe Pen - writes notes and records audio
Skype - be able to see and talk to friends family via your computer. Some say gmail also has a similar feature, no charge.
And of course many realtors preferred their recently purchased phones...blackberry, smartphone touch pro, Iphone,
The Tech Terrace neighborhood in Lubbock is just South of the Texas Tech University Campus. As such it is a favorite place to live, eat, play for TTU students, faculty and staff. Tech Terrace is just East of Covenant Hospital so it is also an area that many Covenant personnel and physicians call home.
Truly, what is or where is Tech Terrace. Many Lubbockites consider Tech Terrace to be boundaried by University Avenue on the east and Indiana Avenue on the west; 19th Street on the north and 34th Street on the south. There are two parks located here as well as Roscoe Wilson Elementary and Hutchinson Jr. High School. My grandchildren attend these schools! A quaint shopping center on 26th and Boston features a cafe, dry cleaners, art supply store, and coffee & gift shops. The delightful Cafe' J's, a hotel, a bed and breakfast, and various other businesses are located on 19th street.
Some people further define what constitutes Tech Terrace. I have heard some folks say Tech Terrace is the sub-neighborhood from 19th through 25th Streets, and Boston to Indiana Avenues. These streets have many large, impressive and historic homes. While many of the homes were built as early as the 1920's, there are also some homes in the neighborhood that are new or recent construction. Some of the older homes are fixer uppers but many have already been updated throughout.
I lived in Tech Terrace from 2002 through 2008 and treasured my home, the tree-lined streets, and some very special neighbors. Since then I have been privileged to work with buyers and sellers in the area. Even though I have moved to Ransom Canyon, Tech Terrace remains one of my favorite neighborhoods.
If you need any information about the area, would like to sell your home, or tour Tech Terrace homes please let me know. I can also send you emails regarding the current inventory in homes for sale and notify you when new listings in Tech Terrace come on the market.
I'd love to assist you with any real estate needs. If you want a home in Lubbock, Ransom Canyon, surrounding communities or Tech Terrace in particular, contact me today!
I am so grateful that Lubbock received much needed moisture this week in the form of rain, sleet and even a few flakes of snow. Things are beginning to green up - a few blossoms and leaves unfurling on the trees.
March is a natural time to think about going green. I am not an environmental wacko, but with water issues, rising costs, and down turn economics one would be remiss not to consider conserving. I am planning to go paperless in my office this year. (save a tree!) I'll do most of my communicating via email. And I have friends who are "environmental" gurus who are going to help me with a rain barrel.
Just two days till St. Patrick's Day! Don't forget to wear green on March 17th. A few years ago I bid on an antique shamrock pin. The photo of it looked awesome - a real one of a kind bit of bling for the season. I won the auction! When the package arrived I opened it to find a tiny version of what I thought I had won. The pin is still absolutely adorable, but lots smaller than what I anticipated.
The same thing often happens with photos of homes online. An estimated 80% of people today begin looking for a new home on the internet. But we know that the photos can be misleading - for better or worse. Pictures of a house can make a house seem darker than it is in person or can make a room look larger than in reality. Most often the photos don't capture a charming ambience or the feel of a neighborhood. And certainly a photo can't convey a strange smell. Definitely start with internet shopping - I love to do that. But you will need to do your leg work and/or Lubbock shoppers can let me do some previewing for you. Below are tips I like to share.
Tip list for home buyer -
* Develop a list of what you need in a house * Add a list of some 'wants' * Get pre-qualified with lender (let me know if you want a referral) * Call or email me and let me know what you are looking for and your time frame * Get a customized online home search set up - I can do that for you * If you want a particular neighborhood, drive it and note homes for sale * Do some internet shopping - stick to your needs at this point * Make a list of homes of interest * Do a bit of driving - check out the home's exterior and the neighborhood * Ask me to investigate homes you like to see if they fit your criteria * Make an appointment - call me to arrange a time to go see the house
If you need to sell your house in order to buy a new home, get your house on the market BEFORE you get seriously interested in a particular house. It is taking an average of 90+ days for a home in Lubbock to sell. And with close to 1200 single family homes and garden homes on the market it will likely take lots less time to find a great home than to sell one.
I showed two homes at Vintage Township today. If you have ever wanted to see the community or tour homes there I'd love to meet with you and show you around. From now til the end of the year (and maybe beyond) I think they will be making some great deals. They are getting ready for the Summer 2009 Parade of Homes! The home we toured today had also been staged by Michelle Snodgrass - kudos to Michelle because it looked gorgeous. The address is 11505 Topeka and the price is $459,000.00 for 3656 square feet of ahh-mazing house. There is an efficiency above the garage that is mind boggling - this is just a HUGE bonus considering the home itself is incredibly spacious and attractive.
Vintage Township will have a Christmas Home Tour this year! On December 13, from 2-5pm, several of the "lived in" homes will be open for the evening and decorated for the season. Tickets are $15.00 And their Vintage Winter Wonderland, with Santa, falling snow, and sleigh rides, will be each Friday and Saturday evening from 6-9 pm, from December 5th through the 20th.
I got the cutest postcard today from Lubbock Abstract & Title Co. It says "Did you read the good news?" An adorable bassett hound is offering the newspaper. The card goes on to congratulate Lubbock for having the 2nd strongest US real estate market (according to Business Wire) and the 11th best US recession market according to Business Week! Yea Lubbock. And thanks to this great Lubbock title company for reminding us of the good news!
Mega thanks to Rick Geha who was in Lubbock today, speaking to and motivating area Realtors. Keller Williams team leader Debbie Frapp had invited Rick to come speak and gave him quite a build up. Well deserved! It was fun to have fellow Realtors and agents from Midland and Amarillo attend as well as a few Lubbock Realtors from other real estate companies. Rick was a super instructor!
I had a few AHA's and my number 1 AHA was to have deeper, probing dialogue with my buyer clients before getting in the car and going to look at houses. With gas prices being high (I'll stop saying that when the price drops to $2.25 per gallon!) and my time being precious, I want to work with motivated buyer's. In addition to loving my real estate business, my husband and I have our Moms, our wonderful kids and fabulous grandkids and we can't live a balanced life without carving out time for family. To top that I have dear friends, love to do arts and crafts, and have just agreed to be a partner in a booth at a local gift mall. So driving all over Lubbock looking at homes that aren't really what my client wants anyway makes no sense. To drive clients around town all weekend with buyers who aren't ready, willing and able to buy is detrimental to my social, emotional and financial well-being.
Understand though, that I do love showing people homes and love to meet my friends, colleagues, and prospects at homes they have an interest in. These folks don't have to pass a litmus test. That is an entirely different proposition. This AHA is just about what Rick taught which in this case boiled down to working smarter, not harder.
I look forward to taking a number of friends on a fall home tour in November. Last year I (tongue in cheek) called it Tour de Lunch. I will choose a variety of vacant homes in different neighborhoods and price ranges and take my girl friends on a custom tour. Last year we squeezed in 3 or 4 homes during a lunch break and I provided brown bag lunches. It was so much fun, gave me a chance to stay in touch with past co-workers, and them a chance to see some cool homes. This year we may go for an evening after work so we will not be so rushed. Then either drinks or dinner on me. Last year two transactions stemmed from the Tour de Lunch, directly or indirectly.
Doom and gloom still dominate the national mediat when it comes to the housing and real estate industry. Again, Lubbock's market is stable and for that we are all grateful.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
;)
