financial: Better to Rent or Buy a House - 03/19/24 06:15 AM
Before buying a house there are several considerations a person must consider before deciding. Here I am going to review some of those considerations:
Financial – When you buy a home the buyer will have higher upfront costs that includes the down payment and closing costs. The closing costs will include such costs as application, inspection, and attorney fees, etc. Mortgage rates will have an impact on your ability to buy and monthly payments. Currently, mortgage rates are showing some signs of easing and allowing buyers the ability to buy.  In addition, a homeowner is responsible for all maintenance to the property, … (4 comments)

financial: Ways to Buy a Home with Cash - 01/30/24 06:22 AM
Buying a home in today’s market can be frustrating due to the highest interest rates in recent years and lack of new listings.  Buyers are wondering how they can make an affordable offer to sellers that will be attractive.  One way to make an attractive offer to sellers is an all-cash offer.  This ensures a faster closing date and lower closing costs.   We all know that most buyers do not have the extra cash needed to purchase their new home sitting in their checking account.  Also, some buyers prefer to buy their new home prior to selling their current home due … (2 comments)

financial: When Not to Accept Highest Bid on Your Home - 10/11/23 06:54 AM
Your house is on the market and there is a shortage of housing.  As a seller, when this happens it appears that you are on the winning side and should receive multiple offers.  At the same time, you should watch for red flags that may be present when a buyer makes an offer.  Many times, sellers think higher offers are always more appealing, and in a market where multiple offers are frequent, this creates an environment where missteps may occur.  Sometimes sellers are willing to accept a lower offer because they feel there may be less headaches and a greater chance … (5 comments)

financial: Strategies for Maintaining a Home - 07/11/23 06:29 AM
Recent bank failures should be a wakeup call to all homeowners and people who have deposits in their bank that are above $250,000.  The Federal Deposit Insurance Corporation (FDIC) does not insure amounts that are above this amount.  Homeowners must maintain all their assets which includes maintenance of their hard assets such as their home and investment property and financial            assets they have deposited in financial institutions. For most people homeownership represents their largest asset, and they need to manage these assets to maintain long-term sustainability.  Homeowners should follow the following risk mitigation strategies that are normally followed by banks to … (1 comments)

financial: Factors That Affect Your Credit Score - 03/07/23 06:23 AM
Most people are concerned about their credit score. Some of these people have credit scores that need to be improved while others have used good practices and have great credit scores.  Having a great credit score does not occur overnight, it takes long term financial practices to get yourself to that point.  Having a high credit score can save you a lot of money over the years.  It is especially important when you want to purchase a large ticket item that must be financed.  Following is a list of factors that play into credit score and how to improve your score:
On-time … (5 comments)

financial: Tips When Buying a Home - 12/12/22 07:25 AM
Buying a home is stressful, whether you are buying a starter home, upgrading, or downsizing.  In a sellers’ market this can be extra stressful.  During that cycle, buyers compete in a multi-offer environment.  For some buyers it may be advisable to wait for the market to cool off. On the other hand, there may opportunities where buyers can purchase a home that meets their needs and desires.  Now let us define types of real estate markets:  a balance market is where supply of houses available to purchase is equal to the demand for homes.  Housing prices are stable, and houses sell … (3 comments)

financial: Home Affordability Affected by Mortgage Rates - 10/14/22 06:31 AM
Mortgage rates are rising in today’s housing market, and this affects how much a home buyer can afford to purchase. Likewise, your credit score and down payment have a similar affect.  All of the above items have a direct effect on how large a loan you can get.  When in the market to purchase a home, need to watch and understand how a rise in interest rates affects your monthly mortgage payments.  This can quickly move your payment from affordable to unaffordable. Depending on your financial situation you may want to consider discount points when talking to a lender.  Discount points … (1 comments)

financial: Understand What You Can Afford When Purchasing Property - 09/07/22 07:30 AM
One of your early steps in your home buying process is to fully understand your finances.  This is not a fun step, but a very necessary to determine how much you can afford to avoid future financial problems.  This requires gathering financial information to answer questions from a mortgage lender.  These questions will include such things as: gross income, monthly expenses, credit card debt and how much you have in savings.  Some mortgage lenders recommend home buyers should not spend more the 28% of their gross income on house payments. Your mortgage house payment includes principal, interest, taxes, and insurance.  Understanding … (1 comments)

financial: Parents Buying Houses in College Towns - 09/28/21 11:35 AM
Parents of many colleges’ students have realized this is a great time to purchase investment property.  Advantages include cutting housing college cost, some expenses are tax deductible, college student can learn how to become manager, and an investment that will appreciate.  By purchasing a home for the college student, they can rent out additional rooms to other students, therefore making their board and room less expensive versus what the college would charge.  In this instance, a student who needs a student loan probably will not need to finance their living.  As a parent they can have the student to be the … (1 comments)

financial: Homeowners Biggest Remodeling Mistakes - 04/01/20 06:20 AM
One of the biggest undertaking homeowners do is remodel their home.  When planning the project, they need to do detail planning to lower their chances of having regrets after completing the project.  Some homeowners fail in this regard.  This can lead to regrets later which can be defined as blunders that were preventable.  Following is a discussion concerning regrets:  
Budgeting – Underestimating the cost to do the project can be a serious misstate.  This can prevent homeowners completing the project, incur a financial loss, or lead to future financial problems.  It is important to have detail construction plans in order to … (0 comments)

financial: Family and Friends Provide Down Payment Assistance to First-Time Buyers - 02/20/20 06:01 AM
According National Association of Realtors (NAR), one-third of first-time home buyers turn to family and friends when purchasing a home last year.  Many of these buyers are receiving a gift.  If the financial aid received is documented as a gift in the loan process, the money is not required to be given back to the person who gave the gift.  Another way to assist a first-time home buyer is setting up a Co-Ownership and Shared Equity Arrangement. This type of arrangement provides tax advantages and requires a written contract signed by all parties defining the terms of the agreement.  This should … (0 comments)

financial: Home Staging Reduces Market Time and Increase Sales Price - 04/04/19 05:51 AM
Home staging has been gaining greater popularity because sellers are realizing that homes sell faster, and there is greater potential of receiving a higher sales price.  This may be due to some of the following reasons:
         many buyers are watching TV home-makeovers          selling agents are encouraging and assisting sellers to stage their home for faster sale potential          staging a home often allows seller to receive a greater return on their investment          many seller agents feel that home shows tend to help promote increase value from staging            TV home shows are increasingly influencing buyers’ expectations what … (2 comments)

financial: Recognizing A Qualified Buyer - 03/28/18 06:50 AM
When home sellers receive an offer to purchase their home, one of the first questions they should ask, has the potential buyer been pre-qualified or pre-approved for a loan.  A letter of pre-qualification or pre-approval should accompany an offer to purchase a home.  If there is no letter, this is a red flag.  At this point, need to determine why there is no letter and if a letter is fore coming from a financial institution.  The letter should state how much the potential buyer is approved for and some financial terms.  If buyer is a cash buyer, then the home buyer … (1 comments)

financial: Considerations When Accepting Home Offer - 01/11/18 07:13 AM
Living in a popular neighborhood where houses are selling at a fast space can give a seller the big head that their home can sell above market price.  This may or may not be true.  Remember, buyers may not have the same high opinion of your home as the homeowner does.  Seller’s home probably has met their needs, but it may not be the most desirable house for other people.  A home that has met your needs and desires, is also subject to contingencies that are contained in a sales contract.  Fewer contingencies within contract improves odds of getting faster acceptance … (3 comments)

financial: Questions to Ask Prior To Selling Home - 09/07/17 05:52 AM
Thinking about moving to a larger home, a more desirable location, or downsizing to a smaller home.  You may want to ask yourself a number of questions to determine if this is a smart thing to do.  Such questions may include:
Equity in current home -  First, determine the amount of equity in your home.  This is calculated by determining the fair market value of your property, less outstanding loan amount owed on property, less closing cost to sell your property.  Usually, the first few years of mortgage payments you gain little equity.  After five years, normally start to see a greater … (1 comments)

financial: Tips to Lower Home Cost Loans - 06/07/17 07:19 AM
When applying for a home loan, a potential buyer may discover that they will be unable to get as large loan as they had originally desired.  This occurs when a person is getting pre-qualified or pre-approved.  Following are some reasons why this occurs:
High monthly mortgage payment – Buyer may realize the monthly mortgage payments may be too high for their budget to feel comfortable.  This may result of not taking into account interest, taxes, insurance and homeowner dues.  In addition, the location they desire may be too expensive.  At this point, the buyer will need to make some concessions and/or decisions.  … (0 comments)

financial: Buying Both Home and Location Matters - 09/21/16 06:21 AM
Making a buying mistake on either the home or location may lead to financial problems and/or cause homeowners to have an unhappy experience.  When buying, all buyers should consider a number of factors prior to making their final decision.  Couple factors you should realize upfront: you can modify the structure, but you cannot change the location.  Always consider buying in the best location you can afford, but at the same time do not buy the most expensive house in that location.  You want to be in a situation where other homeowners’ values are helping your financial value appreciate faster.   A house … (2 comments)

financial: Mistakes Sellers Need to Prevent - 08/06/14 04:44 AM
Home sellers face a couple challenges when selling their home.  First, is the challenge of mentally preparing yourself to sell your home.  This tends to become more difficult the longer you have lived in your current home.  Second, completing tasks that will help you property show your home favorability to potential buyers.  This includes completing tasks both on the inside and outside of the home.   Following list identifies some areas where sellers sometimes take short cuts that end up being a mistake:
·     Home Inspection – If you have an older home consider doing a home inspection.  Doing a home … (6 comments)

financial: Home Buyers’ Indecisions - 06/01/14 11:35 PM
Home buying affects many peoples’ personalities.  Many times they are a different person during the home buying process due to internal fears.  Sometimes they have a difficulty making a decision.  This is understandable because there are many decisions that need to make in short period of time with financial consequences.  The core of this problem seems to be money.   For some people it might be advisable to slow-down your home buying endeavor in order to give themselves time to identify the exact fear, and determine how best to deal with the fear.  Following is a list of home buying fears a … (0 comments)

financial: How To Prepare To Buy First Home - 10/08/13 11:11 PM
Preparing to buy your first home usually includes setting aside money for a down payment, reviewing listings for several months, and touring homes on weekends.  Many first-time home buyers fear the thought of purchasing a house and are unsure what steps they must take to own a home.  Some of the concerns may be due to the fear of buying too much house, cash poor, and/or losing their job.  Potential home buyers need to discuss the buying process family members, friends, and with a realtor that they are conformable working with.  Proceeding to purchase a home without having professional guidance is … (0 comments)

John Watts (Keller Williams Realty)

John Watts

Austin, TX

More about me…

Keller Williams Realty

Address: 12515-8 Research Blvd, Ste. 100 , Austin, TX, 78759

Office: (512) 751-3359

Mobile: (512) 751-3359




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