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Preparing to Buy in 2021? --- HUD Release 12/2/2020

By
Real Estate Agent with DFW FINE PROPERTIES 0506509

 

The FHA new single home family limits for 2021

"The Federal Housing Administration (FHA) calculates forward mortgage limits based on median house prices in accordance with the National Housing Act. Single forward mortgage limits are set by the Metropolitan Statistical Area (MSA) and county and are published periodically." For further information click on the link for "Press Release"  dated December 2, 2020 or go directly to HUD.GOV

 

The Facts of Life

If 2020 taught us anything, it's a fact, people learned just how valuable it is to own your own spacious home that accommodates all your needs. In the past, apartments were and for some still are a good alternative for people who spend more time at the office, traveling, or on the road than at home. But with lockdowns and working at home, some apartments and residential properties are just too small for 24-hours per day to work, go to school, live, sleep, eat, and entertain a small group of family or friends. 

Depending on number of occupants, small spaces puts people's backs against the wall when it comes to work stations for business, school and/or business education. What many people discovered is walls and open spaces within a home or an apartment are not soundproof. And let's not forget, pets are family too. To work efficiently, ergonomically correct office furniture and chairs improves the body and the mind. Just like in the story about the "Goldilocks and the Three Bears," people of all sizes and ages are discovering:

  • This chair is too small
  • This chair is too big
  • This chair is too hard
  • This chair is too soft

When it comes to eyesight, lighting has to be just right too! Working morning, noon, and night requires adequate natural light or lamps and ceiling fans. Humans need air circulation, sunlight, and darkness. Previously, it took a lot of money for organizations to figure out room construction to accommodate employees needs. Where you live now, might have been perfect before the pandemic but how is it working for you now? Do you have the sun blinding you while you work because of the direction of the sun? Are you shopping on line for room darkners to cover your windows? Shades? Blinds? 

Everyone has to eat. The convenience of eating out in Fast Food places or Restaurants has changed too. Many business owners have gone out of business. Some have curbside only. Others are a hit or miss and depending on where you live and what your Governor dictates, will depend on whether or not it's worth it to hunt for what's open or just stay home and prepare meals in your own kitchen. Is your kitchen large enough? What about the pantry? Do you have enough storage? Closets? Cabinets? Sizes for appliances? Can you even squeeze a kitchen table in your kitchen?

What about exercise? How is that working out for you? Sleeping quarters? Living Room? Location? Do you have access to amenities in your HOA or Subdivision or is everything locked down too? Because of Social Distancing, do you need more or less space? And what about elderly parents and adult children who can't go to schools or buy a home? If they knock, will you let them in to live with you or will you say no? 

Now is the time to plan for 2021. If you live and work in the DFW area in Texas, I can help customize a plan for you to buy or sell that meets your needs.

Perhaps it's time to get out of your shell and find a new home ---Patricia Feager

 

Posted by

Texas Law requires all license holders to provide the Information about Brokerage Services form to prospective clients.

https://www.trec.texas.gov/sites/default/files/pdf-forms/CN%201-4-1.pdf

dfw fine properties

PATRICIA FEAGER, REALTOR®
DFW FINE PROPERTIES
3575 LONE STAR CIRCLE SUITE 315
FORT WORTH, TEXAS 76177

Email Me
                                  

                                     

MBA (University of Dallas)
BA
(Bachelors of Arts & Science)
Paralegal (Southeastern Career Institute)
Associates (3) (College of Lake County)
KU (University of Kansas)

CERTIFICATIONS

CRS (Certified Residential Specialist)
SRES (Certified Senior Residential Specialist)
PSA (Certified Pricing Strategies; Mastering the CMA)
CRS (Certified Military Relocation Specialist)
RENE (Real Estte Negotitions Expert)

"With self-discipline most anything is possible." --- Theodore Roosevelt 

 

 

 

  

Comments(6)

Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Patricia - except for that slight issue of breaking and entering, the tale of Goldilocks can teach us much when attempting to find that "right fit".  Facts often combine with fable so a nice dose of each is advised but don't mix up the two, proper planning/perspective is good for bears and for prospective buyers planning a home purchase.  

Dec 04, 2020 12:03 PM
Patricia Feager, MBA, CRS, GRI,MRP

Michael Jacobs - A great Real Estate Agent and Lender will listen intently to understand from their buyers perspective their needs doing their due dilligence to help a buyer achieve their goals.  

Dec 05, 2020 03:56 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Patricia the increase in both conforming loan limits (conventional loans) and FHA was very welcomed news.

Dec 04, 2020 04:47 PM
Patricia Feager, MBA, CRS, GRI,MRP

George Souto Today's qualified buyers are very lucky these changes to conforming loan limits (conventional and FHA) will be in their favor. 

Dec 05, 2020 03:59 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

You always provide the best information and those that rely on you for their real estate needs are definitely in good hands!  I hope that you will have a wonderful weekend my dear friend!

Dec 05, 2020 05:04 AM
Patricia Feager, MBA, CRS, GRI,MRP

Brian England - I do try very hard to provide the best information for buyers and sellers. Your support is very much appreciated. 


Thank you. 

Dec 05, 2020 04:01 PM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

You are so right, Patricia. Homes have taken on new meaning this year. Many need rooms for an office, gym, school/study rooms...you are a great resource for buyers in your area. 

Dec 05, 2020 07:39 AM
Patricia Feager, MBA, CRS, GRI,MRP

Debb Janes EcoBroker and Bernie Stea JD - There will be a lot of rethinking by current property owners and tenants. Here's where the most experienced agents who work in their clients best interests should prove without fail, they will stand by their clients to help guide them to make the best major decisions successfully. 

Dec 05, 2020 04:08 PM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Hello Patricia Feager, MBA, CRS, GRI,MRP - Most people did not buy their home ever thinking or believing they would be working there and children would be home remote learning.  Many are challenged to find a way to make it work. Buying a larger home is certainly one solution.  

Dec 05, 2020 02:14 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Kathleen Daniels, Probate & Trust Specialist - You are 100% correct. New challenges are shaking things up a lot all over the nation. Nobody expected a pandemic, lock downs, working out of the home, children learning at home, etc. So many changes. Living, working, eating, and sleeping in close quarters 24/7 for people who never did that before can be very stressful. It's time to rethink and make plans for successful solutions to happy living. 

Dec 05, 2020 04:13 PM