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William Onye's Blog

Home Buying, New Home Resource and Home Ownership

By William Onye | Agent in Missouri City, TX
  • Always Use A Realtor When Buying or Selling

    Posted Under: Market Conditions in Rosenberg, Home Buying in Rosenberg, Home Selling in Rosenberg  |  December 24, 2011 9:24 AM  |  1,118 views  |  1 comment



  • FIRST TIME HOME BUYERS ASSISTANCE

    Posted Under: Home Buying in Richmond, Home Selling in Richmond, Financing in Richmond  |  November 18, 2011 5:20 AM  |  1,275 views  |  No comments






  • QUESTIONS TO CONSIDER BEFORE SELLING IT BY YOURSELF

    Posted Under: General Area in Harris County, Home Selling in Harris County, Foreclosure in Harris County  |  September 4, 2011 7:30 AM  |  1,286 views  |  3 comments

    ·    Who will tend to the property and pay for routine maintenance?

    ·    Who pays for major repairs?

    ·    What are the costs of setting up and managing an escrow account for the portion of rent allotted to the down payment?

    ·    Will you manage the property yourself, or hire an agent?

    ·    What if the renters change their minds? Who keeps the money in the escrow account?

    ·    If the buyers change their minds, what will be required to put the property back on the market?

  • CAN'T MAKE MORTGAGE PAYMENT? WHAT TO DO

    Posted Under: Home Selling in Missouri City, Financing in Missouri City, Foreclosure in Missouri City  |  August 21, 2011 6:56 AM  |  1,279 views  |  No comments
    Many homeowners find alternatives to foreclosure by negotiating with lenders, often with the help of foreclosure counselors. If you’re facing foreclosure, call your lender right now to determine your options, which can include loan modification, forbearance, or a short sale.  The entire foreclosure process can take anywhere from two to 12 months, depending on how fast your lender acts and where you live. Some states allow a nonjudicial process that’s speedier, while others require time-consuming judicial proceedings.  Once you miss at least one mortgage payment, the steps leading up to an actual foreclosure sale can include demand letters, notices of default, a recorded notice of foreclosure, publication of the debt, and the scheduling of a foreclosure auction. Even when an auction is scheduled, however, it may never occur, or it may occur but a qualified buyer doesn’t materialize. Bottom line: Foreclosure can be a long slog, which gives you enough time to come up with an alternative. Meantime, if your goal is to salvage your home, think about keeping up with payments for homeowners insurance and property taxes. Otherwise, you could compound your problems by getting hit with an uncovered casualty loss or liability suit, or tax liens
  • RELOCATING HOMEOWNERS (HOME SELLERS)

    Posted Under: General Area in Missouri City, Home Selling in Missouri City, Moving in Missouri City  |  August 8, 2011 10:50 AM  |  972 views  |  No comments

    For Sellers:

    ·    Who will tend to the property and pay for routine maintenance?

    ·    Who pays for major repairs?

    ·    What are the costs of setting up and managing an escrow account for the portion of rent allotted to the down payment?

    ·    Will you manage the property yourself, or hire an agent?

    ·    What if the renters change their minds? Who keeps the money in the escrow account?

    ·    If the buyers change their minds, what will be required to put the property back on the market?

  • KEY Guidelines to SELLING YOUR HOME

    Posted Under: General Area in Missouri City, Home Selling in Missouri City, Foreclosure in Missouri City  |  July 18, 2011 9:59 AM  |  872 views  |  No comments

    Reduce clutter

    •  Clean out closets, pick up clutter, and pare down what’s inside. That goes  for those treasured family photos and mementos, too. The reason?  Besides adding a spacious feel to the home, pared-down surroundings can help potential buyers better envision themselves and their family photos in  the house.

    •  Pack away items and special collections usually displayed in cabinets and hutches, and move a few pieces of furniture out of the house. This will help buyers to better see where their furniture might go in the house.

    •  Don’t forget to keep the house clean every minute it’s on the market. This takes great effort, but the buyer may need to see it in the next five minutes, and you’ll need to be prepared.

     

    Tone down your creativity

    •  So, you like your house to “say something” about your personality. Well, it’s time to tone it down. Go buy some plain-vanilla paint to cover those red-and-purple walls in your boudoir—it’ll make a difference when you’re trying to sell your home. Many buyers can’t see your Picasso genius (and  just can’t get past the splatter-paint wall in the living room) to visualize colors they’re more comfortable with.

    • If you’ve got an Italian fresco on a living room wall that stops people in their tracks, they may lose sight of the rest of the home’s wonderful features. If you’re resistant to do anything about it, ask someone you trust to give you an independent view of your home. Better yet, ask  William Onye REALTOR (832-613-5373) if the house looks cluttered or if any colors are too bright. Some may see bright colors as gaudy. Listen to their answers and take their advice

  • FOR SALE BY OWNER WOES

    Posted Under: General Area in Missouri City, Market Conditions in Missouri City, Home Selling in Missouri City  |  July 3, 2011 8:40 AM  |  834 views  |  No comments

    Granted, some people are able to sell their own homes without the services of a real estate agent. Some of these successful do-it-yourselfers are very experienced home sellers. Others are transferring ownership of their home to a child, a coworker or a tenant who's already living in the home. These circumstances are the exception, not the norm, however. For most people, a for-sale-by-owner (FSBO) transaction simply isn't in the cards. Here are five reasons why.

    1. FSBOs can't list their home in the MLS. FSBOs aren't permitted to put their home in the multiple listing service (MLS) because these industry membership organizations are open only to licensed real estate brokers and agents. FSBOs are also locked out of many home search engines and Web sites, including the gigantic Realtor.com. Sure, a determined FSBO can put a for-sale sign in his or her front yard and run a tiny advertisement in the local newspaper, but the home won't receive nearly as much exposure as it would through the MLS.

    2. Agents won't show FSBO homes. In a typical home sale, the buyer's agent receives a percentage of the commission that the seller pays the listing agent. Without a listing agreement, there's no guarantee that the buyer's agent will be compensated for his or her services, unless the buyer has signed a buyer's brokerage agreement that specifically provides for such compensation. Even if a FSBO offers to pay the buyer's side of the commission, most agents won't want to go through a transaction with an unsophisticated self-represented seller across the table. That means the pool of potential buyers for FSBO homes is limited primarily to unrepresented and probably unqualified prospects.

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    3. FSBOs usually overprice their home. Like most homeowners, most FSBOs honestly believe their own home is worth more than comparable homes in the same neighborhood. Usually, they're wrong. A real estate agent can provide an update on market conditions, an assessment of the likely selling price of the home and tips for improving the home's buyer appeal. Overpricing a for-sale home is a sure way to deter potential buyers.

    4. Buyers will feel intimidated. Potential buyers will spend less time in a for-sale home if the owner is present during the showing, and they'll be shy about discussing its pluses and minuses with their own agent if the owner is within earshot. Buyers will also be less inclined to make an offer if they know they'll be negotiating directly with the seller. Having an agent on each side creates an effective emotional buffer between the seller and buyer.

    5. FSBOs are likely to stumble into legal trouble. Real estate transactions are fraught with potential liability for unwary sellers. A FSBO who overlooks even one required form or legally mandated disclosure could face a protracted and expensive buyer lawsuit after the transaction closes.

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