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Killeen : Real Estate Advice

  • All238
  • Local Info28
  • Home Buying61
  • Home Selling17
  • Market Conditions10

Activity 88
Thu Dec 31, 2009
James Gordon ABR SFR SRS answered:
Barbara I would check with your Realtor® who would be helping you to purchase this home. If you do not have a Realtor® representing you check with the builders rep and see what they say the price is.
In my area most new constuction is not done with ernest money but with a nonrefundable deposit. If for some reason you decide to not purchase the home the builder keeps the money but is stuck with a home that they now have to put on the market and pay taxes, insurance and interest on until it sells. I have been sucessful in getting an addendum added to some the contract of some builders that covers a refund in case of job loss.
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0 votes 4 answers Share Flag
Tue Dec 29, 2009
William Polack answered:
VA is a little harder to qualify for, however, it's a beautiful loan. It's 100% financing with no mortgage insurance. If it's your first time, the funding fee (which is financed into the loan) is 2%. The seller can still pay all closing costs. Same as FHA, alternative trade lines for husband. If you don't need his income to qualify, you don't need the alternative trade lines. You may even want to keep him off the loan and keep him on title. Rates are about the same as FHA, maybe slightly higher. Please note too that rates quoted right now may not be accurate because most companies will quote you for a 30 day lock. You may not be closing for 45 to 60 days out. Also, rates are higher this time of year. Wait until the new year to start shopping. You will notice that the new RESPA rules will cause the good faith estimates to look totally different (fees will look higher than what you're used to seeing). If you have someone take your application prior to January 1, your life will be easier and you'll fall under the old RESPA rules. However, if they have to redisclose fees to you, you'll fall under the new RESPA rules. Nothing will change for you, just how we disclose fees and the time it will take to close will change. PS: Thank you for serving our country and allowing me to write this in English! ... more
0 votes 7 answers Share Flag
Sun Dec 20, 2009
Shakim 'The Dream' Gonzalez, REALTOR answered:
Yes you may contact the BBB with a complaint. You may also contact the Texas Residential Construction Commission http://www.texasrcc.org/default.asp. You may have to seek legal advice as well. Make sure you have all documants pertaining to the purchase of you home i.e. the new home contract. Should you have further questions contact me directly via e-mail or call 254.368.9892. Shakim Gonzalez is at your service!!! ... more
0 votes 5 answers Share Flag
Wed Mar 3, 2010
Jill Fisher answered:
Most VA lenders require a 640 FICO. And all Gov. lenders will require at least 3 lines of credit showing 12 months ontime payment history for those lines of credit.
0 votes 6 answers Share Flag
Mon Nov 23, 2009
James Gordon ABR SFR SRS answered:
Bgonzales the way owner financing works is that your parents would own the house free and clear. They could then do a loan and mortgage to you just like a bank but the financing would come from the owner of the property. ... more
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Fri Nov 6, 2009
Roselyn Wilson answered:
It is important to know if you would like to have any kind of animals (for example, horses) and whether or not you are okay with living in a community or area that has deed restrictions. You can send me a quick email with your thoughts and expections of what exactly you would like to be able to do with your home and also it is important to know if you are already working with a builder :)

Best Regards,

Roselyn Wilson
Realty Executives Central Texas
roselynwilson@realtyexecutives.com
www.roselyn.centex-execs.com
(254) 466-8747
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0 votes 1 answer Share Flag
Tue Oct 13, 2009
Joe Salcedo answered:
Hi Kevin,

If you ask me that question I would rather borrow from somebody else but dont
borrow against the property...I learned from my own experience. If you miss
payment on your house you are in trouble. You better not to borrow against
the property...
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0 votes 6 answers Share Flag
Mon Jul 4, 2011
Roselyn Wilson answered:
I could do a market analysis, however, would need more information about your home in order to give you an accurate analysis. Send me an email an we can get started!!!!! Although I am a Buyer's agent I can still conduct a CMA and refer you to a listing agent along with help you purchase a new home when you are ready to buy :)

Best Regards,

Roselyn Wilson
Realty Executives Central Texas
www.roselyn.centex-execs.com

"I'm doing something different!!! How many Real Estate Agents do you know work only with Buyers?"
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0 votes 3 answers Share Flag
Thu Nov 10, 2011
Josh Thomas answered:
No. But you should probably get with someone ASAP as it expires at the end of next month. If you get a home under contract within the next two weeks, you can most likely still claim the credit.

Let me know if I can help.
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0 votes 6 answers Share Flag
Wed May 24, 2017
T.E. & Naima Sumner answered:
Credit is not all that hard to understand, but it can be difficult fix problems on your credit report.

Scores are based on the number of open credit (trade) lines you have open. Lots of open lines -> lower score. You need about 3-4 open trade lines, e.g. credit cards, charge account, installment loans.
Then, you MUST pay these lines as agreed. Late payment are very bad because they remain on your report lowering your score for 24 months. They continue to stay on your report for longer but with less effect. Recent late payments are the most damaging. So, pay on time.

Housing-related credit lines can damage your ability to get a mortgage loan. So, back rent liens, utility collections, and the like can destroy your ability to get a housing loan, even though your score isn't that bad.

Collections lower your score even more. As an account ages from 30 days late to 60 days to 90 days, the damage grows. When it finally is sent for collection, it's even worse. Try to avoid having any accounts sent to collection. It is better to have a $10/month payment plan than an account sent to collection.

Charge-offs are the pits. Once an account cannot be collected, it may be written off completely by the creditor. If the charge-off is more than 3 years old, it has done its damage and is done (until another collection agency takes it over). Much as I personally disagree with the practice, many collection agencies trade old accounts with each other. When they receive an old collection account, they immediately go report as a new collection even though it's years old. I don't think this is fair. After 5 years, can it really be a recent debt?

Foreclosure, repos, and bankruptcy are at the bottom of the pit. They are the most damaging and long-lasting items.

Why tell you all this? Because credit repair is about dealing with the problems and correcting them. Occasionally, errors are made in reporting - first remove these by bringing them up to the credit bureaus
Second, make sure you pay all your open account on time. Lates can override your efforts.
Third, work through the delinquent and collection accounts and unless they are ancient, make a plan to pay them off. If they're not yours, dispute them; if they're yours, pay them.
Fourth, don't open any new accounts.Recent account have no history of on-time payments.
Fifth, don't close accounts with long histories behind them. If you have 5 credit cards and want to close 2 of them (you don't have to), pick the 2 that have the shortest history, not the very first one you got. Paying on time on a long-standing account helps you a lot. If you close the account, only the bad accounts will be left.
Sixth, keep your account alive by making periodic nominal purchases every few months.

If you need the names of some people I have used in the past, please ask, but you can do everything that needs to be done without paying someone else.
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0 votes 2 answers Share Flag
Thu Jun 18, 2009
Jeanette Harris answered:
Hello Sheila,

You could do a free prequalification for a home loan with any bank / mortgage company of your choice to find out how much you could qualify for. If you qualify and do purchase a home, the monthly mortgage payments will definitely help improve your credit!

Some more reasons to buy a home in 2009:

- First Time Homebuyer's Tax Incentive: If you haven't owned a home in the last 3 years you may be eligible for up to $8000 with your next tax return for purchasing a home this year. You don't even have to wait until your next tax return, after closing on your house, you could file an amendment on this year's taxes and get this money right away. http://www.HousingMarketFacts.com

- You can claim the interest paid for a mortgage on your taxes whereas you can't claim rent on your taxes.

I'll be happy to give you more information & answer your questions and concerns.
Please feel free to call, text or email me!

Jeanette Harris
Coldwell Banker United
Realtor®

Call Cell: 254-319-1316
Office: 254-200-3800 ext. 7361
Fax: 888-317-1975
jharris@cbunited.com
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0 votes 2 answers Share Flag
Mon Jun 1, 2009
Ggo asked:
Sat Sep 13, 2014
Kerina Shortte answered:
you can contact the killeen police department and direct your question to them for a more specific answer. I would suggest driving at night to your desired neighborhood and look for any weird activity.

visit www.yourkilleenrealestate.com and check out some of the areas listings.
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0 votes 5 answers Share Flag
Thu Aug 27, 2009
Christopher A. Tovar answered:
Carey, this is a nice area. One of the best things about this subdivision is it's proximity to Ft. Hood (Clear Creek gate), Metroplex Hospital, and Tarleton State University-Central Texas (the future Texas A&M Central Texas). You also have great access to Hwy 190 and Hwy 195. Of course, your interpretation of nice will differ from another person's. When I work with buyer's who have questions about a specific area I always advise them to drive by the neighborhood in the evening and on weekends to get a true idea of the type of subdivision they are considering. Good luck with your home search and feel free to ask more questions! Welcome to Killeen! ... more
0 votes 2 answers Share Flag
Tue Jan 6, 2009
Greg Ruehlen answered:
In short, the values have been slowly rising, with an average increase of between 2 and 4 percent annually. Though, data for 2008 has not yet been tabulated and released, it is expected that the average home price has fallen roughly 2% since the 4th quarter of 2007. You can find this and much more info at the Texas A&M Real Estate Center (link provided below). ... more
0 votes 1 answer Share Flag
Thu Nov 20, 2008
NonRealtor answered:
Lower prices will stimulate the real estate market more than reduced interest rates on mortgages. Wait another year, save another 20% on the price and get a lower interest rate too. Good Luck ... more
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Wed Jan 9, 2013
Christopher A. Tovar answered:
No, unfortunately this home is not for rent. When will you been arriving in Killeen from Germany? In our real estate office we have a property management company - I can check to see what inventory is available. Please send me an email and let me know what your are wanting in a home. Thanks! Chris Tovar - chris.tovar@century21.com ... more
0 votes 3 answers Share Flag
Mon Dec 31, 2012
Jeffrey Schnabel answered:
Lindsey,

Historically, from now until mid-August will be the highest number of purchase contracts. However, Killeen is a bit unique in that deployments and large transfers can play a big role in your market. Ask your listing agent to run a report showing the number of closed transactions by month. Make sure they show homes in your price range in your geographics area of Killeen. They can run this report for every month over the past several years, and it's very easy to graph the numbers so you can see the seasonal rise and fall in sold homes.

Your agent can also pull a report about the cumulative days on the market for the past 12 months to give you an idea of how the market has changed. I have a client who is moving from Killeen to Austin and they have all of this data from their listing agent. From what I saw in their reports, while you might have a need to sell your home quickly, the cumulative days on the market in your area was quite high.

Have you been to see what your agent thinks are your top 6 competitors? I would highly recommend you go through them just like a buyer would. Then compare them top to bottom to your home. It's a real eye opener some times!

Good luck,

Jeffrey
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0 votes 12 answers Share Flag
Tue Feb 26, 2013
Dallas Texas answered:
Professional realtors cant make a comment called "steering" HOWEVER my suggestion is do an excel spreadsheet and compare the 2 areas, ride thru the areas on the weekend talk to the families who live there.

http://www.lynn911.com
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Thu Dec 31, 2009
Jeffrey Schnabel answered:
Nikki,

Are you saying that you made an offer on a home verbally and gave an earnest money deposit to your realtor to hold until you have a signed offer? If so, then no, based on what you said, in the state of Texas, a contract for real estate is not binding unless it's in writing. AND, if you had a written contract , it can be voided at any time prior to you learning that it was accepted by the other party.

To protect your rights, communicate with your realtor that you want to withdraw your verbal offer. Do this in writing via email, and also call them to tell them the same thing. Document when you made the call and who you talked to.

Good luck,

Jeffrey
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