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Home Buying in Houston : Real Estate Advice

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  • Local Info307
  • Home Buying1K
  • Home Selling133
  • Market Conditions77

Activity 1,428
Wed Jan 17, 2018
Kathylakritz answered:
Do NOT sign or agree to this. The buyer is totally wrong. What the seller needs to know is a realtor's commission is split with their broker and the seller has no idea what the split percentage is because that is between the broker and the agent. Therefore, it's in the seller's best interest for the buyer to pay cash for the down payment and wait until closing to receive his / her commission. If the buyer doesn't have the cash, too bad. ... more
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Tue Jan 9, 2018
Frank S. answered:
Hello Angie, These links may assist you with crime statistics:
http://www.crimemapping.com
http://www.crimereports.com
http://www.everyblock.com/
http://www.localcrimenews.com
http://www.mylocalcrime.com
http://www.spotcrime.com/ca
http://www.meganslaw.ca.gov
http://www.neighborhoodscout.com/
http://www.homefair.com/

These links should have the answers to any questions you may have on schools:
http://www.greatschools.org/
http://Www.schoolfinder.ca.gov
http://Www.education.com
http://Www.schooldistrictfinder.com
http://Www.schooldigger.com
http://www.sarconline.org/

You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will also need to have received one month of paystubs at your new employment in the same line of previous work history of two years.

How much do you pay in rent and what is the maximum payment/price you are looking to afford? If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria.
... more
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Fri Dec 29, 2017
Susie Kay answered:
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Fri Dec 29, 2017
Susie Kay answered:
You can claim your homestead exemption if you live in the property starting January 1. You may want to consult with your CPA about income tax especially in the long run as it will be related to how much you make, your deductions etc. Will this be your homestead home or is this an investment property? ... more
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Tue Dec 26, 2017
Frank Berka answered:
Sell your 1200 sq' home for $1,000,000 and buy our 4200 sq' on 23 acres including another rental property for $695K. Call 903.736.3134
You'll love East Texas
0 votes 15 answers Share Flag
Mon Dec 18, 2017
Mark McNitt answered:
To answer your last question first, yes you might need an attorney. A REAL ESTATE attorney.

Did the Seller provide you a Texas Seller Disclosure? If so, this would have indicated information they had on the roof, foundation and more. Did you perform inspections by a Texas licensed inspector? Maybe the inspector missed a few items? Did you have a Realtor representing you? They might have more information.

As far as I know, there are no "Lemon Laws" specific for real estate. You can always go after another party in a court of law, but it might be simpler to go to mediation first to resolve any issues you might have. There will be MANY flipped homes after Hurricane Harvey in Houston in 2018 and beyond. Buyer-be-ware and do your due diligence including hiring a Realtor and performing inspections.

Mark McNitt
832-567-4357
Bernstein Realty
... more
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Mon Dec 18, 2017
Mark McNitt answered:
These type of conditions come up from time to time. Best to know about it before you start the home search, but in your case, you have this situation. Best to advise all parties and that it may delay the closing but you FULLY INTEND to work as fast as you can so you can still close on time.

You might be able to write a letter to the credit bureau indicating that $9600 loan is not yours or paid off. They have a certain time frame to resolve. Ask them to remove it.

The squeaky wheel gets the grease. Keep after all the parties! Good luck.

Mark McNitt
832-567-4357
Bernstein Realty
... more
0 votes 2 answers Share Flag
Mon Dec 18, 2017
Mark McNitt answered:
Hello Kathy,

The answer is YES. However, your not in a strong negotiation position with the future Seller. I would suggest waiting till you have a contract signed on your current home. Have the home you are looking at identified and offer ready when the time is right. Make sure your mortgage pre-qualification letter is also in hand.

Mark McNitt
832-567-4357
Bernstein Realty
... more
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Mon Dec 11, 2017
Dewittsm asked:
Sun Dec 3, 2017
Frank S. answered:
Hello Don, yes the 2bd 2ba condos start from 27k in Houston. You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice.

You may consider 3.5% down FHA from a minimum 580 fico score and 3% down conventional from a minimum 620 fico score. Check out the web reference link below... ... more
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Sun Nov 26, 2017
Rhonda Knox answered:
I bought a KB home as my first home almost 10 years ago. My foundation is having issues and KB refuses to fix it. These repairs will cost me 15000 dollars to do myself. My advice stay away from KB ... more
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Sat Nov 25, 2017
Raffeal Lamb answered:
Upward housing help people who have evictions and broken leases to apply without the negative showing up 419-979-6222
0 votes 2 answers Share Flag
Sun Nov 12, 2017
Frank S. answered:
Hello David, we have combo loans but not that configuration. You may consider 3% down conventional from a minimum 620 fico score.

FHA financing is 3.5% down from a minimum 580 fico score. Your scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You will need to receive one month of paystubs before funding a loan. What are your fico scores and how much do you want to invest.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the purchase.

You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. If you figure out what cities, zip codes you are considering, minimum number of bedrooms, baths and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria.

Check out the web reference link below...
... more
0 votes 1 answer Share Flag
Fri Nov 10, 2017
Kellie Wilson answered:
How bad is bad? If your scores are below 530, there's not much a bank can do. If above that, we have to see what your income allows you to borrow. I'm assuming you don't have a mortgage on the home now and are wanting cash out. You may use up to 85% of the value of the home on an FHA cash out deal. Where ever you decide to go, please remember that no one is allowed to charge you an application fee. contact us for a loan email: oceanicfinance113(at)gmail. com ... more
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Wed Nov 8, 2017
Susie Kay answered:
I would suggest that you pick up the phone and call a local realtor and ask for a lender referral.
0 votes 1 answer Share Flag
Mon Nov 6, 2017
Anonymous asked:
Should I even be looking to buy right now? Or should I wait until I have more money saved? I have somewhat of a realtor and have been preapproved but the realtor I am working with is hesistant…
0 votes 0 Answers Share Flag
Sun Nov 5, 2017
Nancy Blinstrub answered:
IMHO, as an oldster who didn't have internet resources when we bought our first house in the 70's, do some research on the web yourself before engaging pros that think they know best for you. Use whichever real estate site floats your boat, choose an area you're interested in, look at what's listed and what that price gets you. Then go to your next favorite area, then your third, and do the same thing. Look at the features of the homes and develop your "must-have" list. Then work seriously on what size mortgage you will be comfortable with, not what you qualify for. Measure it against the homes you've seen online and your must-have list. Get pre-approved for an amount that is on the outside of what you plan to spend. THEN interview realtors, preferably getting a recommendation from someone you trust. Lay out your spending level and "must-haves," and tell them where you've looked online. Don't hold them to the areas you've looked at since they have better ways of searching. Just be informed about what you really want and what you really want to spend, and browse areas they suggest to make sure there's nothing you find objectionable nearby (a lesson learned searching for our current house - realtors can't tell you "it's near a mobile home park, but...") ... more
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Sun Nov 5, 2017
Mark McNitt answered:
Hi Mary,

You might consider looking west of the airport, such as Cy-Fair and Cypress up and down Hwy 290 and Hwy 249 or...east of the airport in the Humble area from Hwy 59 to Lake Houston. North would include The Woodlands, very nice...but might be too pricey. Good schools, quiet suburbs with much of it NOT in a flood zone in all areas mentioned.

Realtors cannot speak directly about crime. I'm attaching a link to a site that allows you to do some research. Not many condos/townhomes in these areas, but a few. Let us know if we can assist with creating a customized search for you.

Mark McNitt
MarkKnowsHouston.com
Bernstein Realty
832-567-4357
... more
0 votes 2 answers Share Flag
Sun Nov 5, 2017
Mark McNitt answered:
Hi Tiffany,

Your salary likely will not be counted until you have a year under your belt. However, every lender is different so if your income will help you get a higher priced home, try to have it included.

I'm providing a link below to several lenders I recommend in the Houston area. Feel free to reach out to them. They likely can answer your question quickly over the phone. If you need help finding a home once you are qualified for a mortgage, let us know.

Mark McNitt
MarkKnowsHouston.com
Bernstein Realty
832-567-4357
... more
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