property: Things to be Aware of About Online Home Browsing - 11/28/23 06:26 AM
Browsing online for a home is aways fun and exciting because you are mostly viewing elegantly decorated homes including beautiful, sculpted yards and gardens. When browsing be careful, you may not be getting the true picture. Just viewing online, it may be difficult tell if the home is close to a busy street which produces loud noise, hidden plumbing problems and/or property has already been sold. Since the above may be true, now is the time to set expectations by completing a home buyers’ worksheet. Within this worksheet be sure you define must haves and nice to haves. Review online property … (1 comments)

property: Important to Price Your Home Right - 09/13/23 08:21 AM
Currently homes are not selling fast as we have experienced in the past, but homes that are priced right are selling.  Many of these homes are selling quickly and some are receiving multiple offers with a few selling above-listing price.  Your listing agent is the person who can give advice on where to price your property.  If priced too high this causes buyers not to tour your home and eventually forces sellers to reduce their listing price.  The first 2 weeks after listing your house attract the greatest number of buyers.  This is why it is important to get the price … (2 comments)

property: 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)

property: Home Buyers Should Negotiate - 01/17/23 06:30 AM
Home market shift has cause home buyers to focus on price as well as other things to make their home buying experience more attractive.   Buyers need to better understand the parts of the contract to create a win-win environment for themselves. Buyers now have more inventory and less competition when purchasing a house which means they have greater opportunity to negotiate with sellers.  Things buyers should consider negotiating with sellers:
Closing cost – These are fees buyers pay to close a real transaction. These fees are lender, appraisal, title search fees, taxes, etc. The amount of fees may arrange between 3-6% of … (1 comments)

property: Home Buyers Understanding Closing Cost - 11/03/22 07:02 AM
Before starting the home buying process, be sure to take time to understand costs associated with purchasing property.  These costs include down payment and closing cost.  Closing cost include both prepaid and actual expenses to close the deal.  Most loan types, the buyers’ credit score and down payment will be a major decision maker to determine how large a loan the buyer will qualify for.  Down payment which is part of the closing cost will range between 3-20% of the purchase price of the property.  Closing costs are fees charged by people involved in the purchase of the property such as: … (4 comments)

property: Competition of Faster Rising Home Prices Versus Seller Power and Wages - 04/26/22 06:25 AM
Income required to meet the new home affordability standard is growing at a faster rate.  This is resulting in less potential home buyers being able to afford higher median home prices and high mortgage rates.  At same time, there are sellers that are recognizing some buyers are being priced out and their listing price is too high therefore are dropping their price.  Affordability is determined by the amount income needed to cover homeowner expenses which includes mortgage, property taxes, maintenance, and insurance for median-priced single-family house.  The past few years low mortgage rates and increase wages helped to offset rising home … (2 comments)

property: Tips To Sell Your Home - 09/02/21 08:07 AM
Many home buyers have regrets after they buy their new home.  Similar thing happens when seller trying to determine whether to sell their home.  Many sellers ask themselves what if?  Would it be better to wait to sell?  Should I negotiate differently?  Should I make more improvements to my property?  With a lot of money on the line and having little experience selling a home, you may want to pause and do some research before selling a house.  Following are some home selling tips:
Determine if you ready to sell – Selling your home is both a financial decision and emotional experience.  … (1 comments)

property: Home Inspection – What to Expect - 06/25/21 06:17 AM
Normally, most home inspections are ordered and completed after a home buyer has made an offer on a property and has been accepted by the seller.  At this time, there tends to be much excitement, impatience and anxiety with all parties involved in the transaction.  The concern is: what to do if the inspector finds something wrong with home?  Do not worry, on resale properties the inspector always finds something wrong, but very few of the homes fail to close.  If seller and buyer work cooperatively together, you will find a solution that is satisfactory to all parties.  Remember an inspector … (2 comments)

property: Explanation of Home Closing Costs - 02/06/20 06:35 AM
When buying or selling your home all buyers and sellers incur closing cost associated with the transaction.  Normally, closing cost (need to include commission and if 5% down payment) are about 8% to 12% of the property purchase price depending on the type of transaction, other than full cash transaction which may be less.  Shortly after signing a contract between a buyer and seller of property, many lenders are willing to provide a good faith estimate of proceeds involved in the transaction.  Your real estate agent should be making that request for their client.  The final closing disclosure of cost should … (1 comments)

property: Myths That May Keep Home Buyers on Sidelines - 10/30/18 06:51 AM
Consumers in today’s market tend to have a lot of assumptions about the housing market.  Many times, assumptions are incorrect and cause them to miss out on a great property deal.  Following are some of the assumptions and opposing viewpoints on some assumptions:
20% Down Payment - Some buyers want to wait until they have a 20% down payment.  This may cause them to miss out on a good deal.  Historically homes prices keep rising over the long run, therefore, their 20% down payment becomes larger.  Since this is true, need to move forward purchasing a house in order to build … (0 comments)

property: Know The Important Facts About Title Insurance - 05/08/18 06:00 AM
Title policy will be required whenever you purchase a home and have a mortgage loan on the property.  Normally, the policy is purchased by the seller of the property.  Title policy is an insurance policy that protects the homeowner from fraudulent claims made against their ownership, mistakes made in earlier sales, such as, misspelling of names or inaccurate location descriptions of property.  The title policy will also protect the lender for defects in the title cause by mistakes made at the local tax office, forged documents, and claims from other parties.  It ensures that the mortgage documents are valid and enforceable.  … (1 comments)

property: Buying Home in Hot Market - 09/22/17 05:44 AM
Anytime a person purchases a home it may be a stressful experience.  Homebuyers, usually are emotional, and are trying to buy the perfect home before another buyer beats them to the purchase.  Becoming knowledgeable about the home buying process, surrounding your good professional realtor and lender, and being ready to move fast can help to eliminate stress.  A buyer may be able to reduce stress by taking advantage of following tips when competing in the market place:
Property alerts – You and/or realtor can setup instant property alerts when a new property comes on the market.  These are real estate websites that … (1 comments)

property: Housing Costs Than Can Cause Havoc with Family Budget - 04/26/17 06:30 AM
When purchasing a new home or living in your current home there will be unexpected expenses that occur that may put stress on the family budget.  Planning, researching, and having financial reserves for unexpected occurrences are key elements that need to be practiced in order to prevent financial disaster.  Areas where you need to practice conservatism to some degree: 
Home improvements – It is human nature, want to make improvements to your new home, or a home that is in excellent condition.  The reason for this, the desire to make the home uniquely yours, or give it a new look.  Need … (1 comments)

property: Pros and Cons for Home Remodeling - 11/29/16 05:50 AM
Remodeling or adding a home addition can be a great idea and good investment.  Some things that affect the effectiveness of such a project are interest rates, property values and length of time you will enjoy the completed project.  Before moving forward with such a project, you may want to consider the following items before making your final decision:
Additional expense – The cost of the project is probably first major consideration prior to beginning the project.  Need to estimate the cost of the project and be prepared to accept some cost overruns when unexpected things occur.  If you are making an … (2 comments)

property: Financing Down Payments and Renovations - 11/09/16 09:57 PM
It is important to have a proven financial system when buying or remodeling a house or condominium.  One important aspect to a successful system is having the ability to provide a higher down payment.  Following are some considerations a buyer needs to be aware of when financing down payments and renovations:
Banks and lenders want low risk – Financial institutions want maximum down payment, and will give the borrower a better deal if buyer offers a lower risk scenario.  By doing this the borrower will get the following benefits: reduced mortgage payments, lower interest rates, possibility no mortgage insurance fees, and ability … (0 comments)

property: Understanding and How to Prevent Paying Mortgage Insurance - 10/05/16 10:39 PM
Many people, especially when buying their first home are unable put down 20% of the sales price plus pay the buyer’s closing cost.  Before a mortgage lender will approve a potential home buyer they must verify they will have sufficient equity in the property.  The lender is insured and wants to be able to re-sell property without incurring a loss if necessary due to foreclosure, etc.  The insurance carried by mortgage lender is call Private Mortgage Insurance (PMI) when using conventional financing.  The homeowner will be required to pay PMI until they have accumulated more than 20% equity in the property.  … (1 comments)

property: Do Knots That May Cause Your Home Not Too Sell - 09/07/16 02:50 AM
When selling your home, it usually has its challenges, such as, preparing the property to show, selecting the proper realtor to sell your house, and timing the sale of your current property to correspond with your move into your new home.  Whatever your circumstances are, you need to have a smooth sale, and the sale occurs quickly.  In order for this to happen, there are few things you should consider not doing:
Taking your own photos -  Have professional photos taken and many homes should include a virtual tour.  Most home buyers are looking online first, which makes this is extremely important.  … (1 comments)

property: Home Buyers Dislikes - 11/29/15 10:39 PM
Many of today’s home buyers are very savvy and know what they want when they are buying their home.  They are able to detect things about a house that are suspicious that will prevent them from further considering the house.  Following are a few things that irritate potential home buyers:
Sellers who cover up issues within their home – These issues can range from bad odors to foundation issues.  Sometimes the seller will not disclose important issues within the seller’s disclosure report.  If these types of things happen, this may lead to either buyer backing out of the deal at the last … (1 comments)

property: Consider Curb Appeal When Remodeling - 11/16/15 09:24 PM
When doing exterior remodeling to your home always think about what home buyers may desire if you were to sell your home.  If you are not sure, recommend talking to friends and professionals about your remodeling ideas.  With home prices rising in some areas, you want to get the best return on your investment when you need or decide to sell.  Sometimes small remodeling changes will improve the resale value of your home.  Another consideration a seller needs to understand and be realistic about, is whether their property is located in a rapidly inflating area.  Being aware of this fact, allows … (4 comments)

property: Real Estate Considerations - 09/23/15 12:37 AM
Current and future homeowners usually are not involved with real estate on a daily bases.  At the most, many of these homeowners are involved with selling and/or buying a house once every decade.  Even with low exposure to real estate, many people think they understand how it works, based on their past experience and talking to family and friends.  Some of things they believe to be true are false which may hinder their chances of buying and/or selling at the right time and price.  If it has been a long time since a person has done a real estate transaction, they … (1 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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