Clear Lake Home Price Drop Makes an Amazing Value Even Better!

http://www.15811dunmoordr.com/ This Middlebrook beauty was already a great value when it originally listed at $164,900 with a price drop to $153,900 how can you pass it up? The home was previously under contract and buyer's financing fell through at last minute - their loss is your gain. This seller is motivated and the price reflects it!


Three large bedrooms, two bath (large master bath with dual sinks) and lots of open living space makes this the perfect home. Lots of updates and upgrades:

* Granite counters in kitchen with new undermount sink and fixtures

* Rich liminate flooring in all open floorplan living space and halls

* New carpet in all bedrooms

* New kitchen cooktop and range hood

* Formal dining, breakfast area and counter for dining

* High ceilings in living room and master bedroom

* High windows give it a bright, open airy feel

* Solar screens on all sun facing windows

* ALL appliances and washer and dryer stay

* Feeds to ALL exemplary CCISD schools

* Great neighbors

What's the catch? There is none. In fact inspections were completed with minimal repairs already made - the previous buyer's loss is your gain. Schedule an appointment today by calling or texting me at 713.817.5710. This won't last long at this price.

Visit http://www.15811dunmoordr.com/ for more information, photos and video tour - then call me!

June is half over!

I don’t know about you, but JUNE is a very busy month! School ends, graduations, Father’s day, birthdays, anniversaries and before you know it half the month is gone…..and it is! Ahhhhhh! That said, here is the link to June’s enewsletter of housing reports and statistics


June is also the month people typically begin to look for homes. This allows the move to take place during the summer with little disruption to children’s school schedules. If you, or someone you know, is looking to move here are some important items to be aware of….

• Interest rates dipped again last week – below 5% These great rates will not last forever and it important to lock in financing before buying

• IMPORTANT – read my blog about financing. All lenders are NOT alike and picking the wrong one could cost you valuable time and possibly the home of your dreams

• It is also important to hold off on any large purchases until AFTER your new home closes. Some lenders are running a last credit check just before closing. If you have made a large purchase it could have dropped your credit score affecting your qualification.

• Even if you are thinking of buying a month or more from now, this is the time to contact a Realtor to get you on the right track and answer your questions. Of course, the obvious choice would be me

If you’re saying “Karen, I would love to move, but I don’t have the time and energy to look” No problem, I can do much of the leg work for you OR you can take advantage of my listing that just came back on the market in Middlebrook. The previous buyer’s financing fell through (hence the notes above). It is a gorgeous 3 bedroom/2 Bath; has already gone through inspection and minor repairs were made, AND it is located in CCISD to feed to Armand Bayou Elementary, Space Center Intermediate and Clear Lake High School – ALL exemplary schools! Visit http://www.15811dunmoordr.com/ for information, photos and video tour. This home already has updates – you could move in a still enjoy your summer! If you like what you see, call me for a personal showing and be prepared to move!

So soak up all you can of the remainder of June – July will soon be upon us – and living in Houston the word “soak” is actually literal.

NOTE:  If you would like to receive my enewsletters each month (I promise not to innundate your inbox), please email me at karen@karensherrill-homes.com with "Newsletter" in the subject box.

Be Aware - NOT all Lenders are the Same

When shopping for a Real Estate lender which is most important?  A. Rate  B. Reputation of Mortgage Lender  C. Both A and B.  Obviously the answer would be C.  With interest rates again nearing all time lows, many are shopping for homes. 

The first step I encourage clients to take in their home search is to become pre-approved with a lender. The BIGGEST mistake a potential buyer can do is to randomly search the Internet and choose a lender based on rates alone.

As a Realtor, I work indirectly with many lenders whether I represent the buyer or the seller.  Some lenders are a JOY to work with, they are pro-active, process things in a timely manner, close on time or earlier and are communicative to both their client and agents involved in a transaction.  When I see their name accompany an offer on a pre-approval letter it makes me smile.  However there are some that make me cringe - this came true once again recently -  I won't name names but the last two words in their name is ....__________ of America.

So what can you as a consumer/buyer do? (this works for refinancing as well though).  Be proactive - don't just ask about rates.  Here are "Questions buyers and should ask a mortgage lender" from the Texas Association of Realtors it will save you grief in the long run.

...Suggested questions you might ask a lender:

• How large is your company, and how long has it been in business?
• Are you a licensed mortgage broker or loan officer in Texas?
• Is your company a mortgage banker or a mortgage broker? (A banker lends its own funds; a broker searches mortgage sources and arranges for you to receive financing from the lending entity)
• What is the name, phone number, and e-mail address of the person who will actually be processing my loan application?  How accessible is that person? (note: This is KEY!)
• Tell me about all loan fees. What fees must I pay up front? What fees will I have to pay at closing?
• How can you assure me I won't pay any unnecessary "add-on" fees?
• Do the costs you are quoting include the lender origination fee?
• Are there loans available with no origination fees? No closing costs? Reduced closing costs?
• What are your interest rates?
• Is there a fee to lock in my interest rate?  How long can I lock in the rate? If interest rates go down, can I relock at the lower rate?  If so, will there be a fee for that?
• What information must I provide to get a mortgage loan?
• What documentation will I have to provide?
• Will you require current tax returns? (Take note of this especially between Jan. 1 and April 15 if you haven't prepared your return yet)
• How long will it take to get complete and unequivocal loan approval and be ready to close? (this is KEY!)
• I plan to stay in this house for ____ years. Can you show me the breakdown of  any ARM loans you offer vs. fixed-rate loans to see which could save me the most money in my situation? (NOTE:  see what the cap is on how high the interest rate could rise on an ARM)
• What is private mortgage insurance?  Other than a 20% down payment, how can I avoid the private mortgage insurance?
• In the last three months, how many loan applications have you taken and how many have you been unable to close?
• Can you give me the names and phone numbers of two or three people for whom you've funded loans in the last two months? (NOTE:  privacy laws may prevent this - you may ask for the name of Realtor involved in the transaction - they can give you the feedback you would need)

Mortgage Rates At Lowest of the Year!

If it's the stock market, down is a bad thing.  If it's Mortgage interest rates - that's good news for you. According MSN.com rates are currently at the lowest they have been all year. What are you waiting for?
http://www.msnbc.msn.com/id/7148582/ns/business-real_estate/

Serving in the Military? You may be eligible for extended Tax Credit....

If you are in the military actively serving overseas, you may be able to take advantage of extended home buyers tax credits!  I wanted to pass along this information in a recent article I read that I have attached below:

Special Provisions Allow Military Home Buyers to Capture Tax Credits


RISMEDIA, June 10, 2010--Military families seeking to buy a home can count on a little tax help. The Homebuyers Tax Credit, which provides eligible buyers with a tax credit of $8,000 for first time buyers and $6,500 for repeat home buyers, ended on April 30, 2010 for civilians. However, active duty military or those on extended overseas duty have until on or before April 30, 2011 to have a binding sales contract in place. The bill also exempts qualified service members on official extended duty from tax credit recapture rules.

"We honor those who serve our country and are glad that this bill acknowledges the unique circumstances they face," said Benjamin Clark, 2010 President of NAEBA (www.naeba.org). "This bill ensures that members of the military have equal opportunity to participate in the homebuyer tax credit and offers relief to struggling military families by making the mortgage payment tax deductible."

The Worker, Homeownership, and Business Assistance Act of 2009 provides a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence and a tax credit of up to $6,500 for repeat home buyers who have owned a home for five consecutive years out of the prior eight years. The tax credit is available for eligible purchasers who have a binding sales contract in place by April 30, 2010, and close by June 30, 2010. However, realizing that members of the military, the Foreign Service and Intelligence Community have unique circumstances the bill has special provisions for this group:

-- Tax credit extended for one year for military personnel serving outside the United States for at least 90 days during the period beginning December 31, 2008 and ending May 1, 2010.

-- Eliminates the 36-month recapture requirement for military personnel, including members of the Foreign Service and intelligence community, forced to sell or move from a tax credit home as a result of an official extended duty of service.

Visit www.irs.gov for more information on qualifying and claiming the tax credit.

How to be the Cool Person You're Meant to Be

While the first day of summer isn't until June 20th - no one told Houston weather.  I'm sure you are hearing the whir of your A/C kicking on and thankful for it's affects.  While I will share what steps my family has taken in our home to beat the heat in a future blog, I wanted to share these tips from a recent article I read. Hope it's helpful - and stay cool because remember Summer's coming!


Tips to Stay Cool This Summer  - RISMEDIA, June 4, 2010

Around the house

--Close blinds, shades and curtains to keep summer heat out.
-- Keep the fireplace damper and doors tightly closed to prevent cooled air from escaping.
-- Run the dishwasher in the cooler part of the day when the lower temperature can better offset the heat and humidity the appliance will produce.

Air conditioning

-- Set the air conditioner thermostat at the highest comfortable setting. When leaving home for more than five hours, raise the thermostat five to 10 degrees. Raising the thermostat just a couple degrees can cut cooling costs by as much as five percent.
-- Regular maintenance is important to operating air conditioners efficiently. Check filters at least once a month. Dirty filters cause air conditioners to work harder and use more energy. Many filters can be removed, washed and dried, and reinstalled. Check the owner's manual or contact the manufacturer for more information.
-- Keep air conditioning units free of obstructions, inside and out, so air can flow freely. Outdoor units should be free of bushes, and leaf and grass debris. Indoors, move furniture and draperies to prevent blocking window units, vents and air returns.
-- Position window air conditioners on the shaded side of the house, away from direct sunlight. Window units generally are not designed to cool more than one room. Close the doors leading to uncooled parts of the house for more efficient cooling.
-- In homes with central air conditioning, leave room doors and air registers open so the system can operate effectively.

Fans

-- Make sure ceiling fan blades rotate clockwise in the summer months to draw cooler air up from the floor.
-- A window fan in an apartment or one-story home should be put in a window on the warmest side of the structure; in a two-story home, put it in an upstairs window. Fans draw cooler air inside during the night and circulate air during the day. Make sure draperies are secured away from the fan for better air circulation and safety.
-- Prevent heat build-up in the attic by opening attic vents and making sure any lower vents are not blocked. A cooler attic benefits the living area below. An exhaust fan or whole-house fan mounted in the attic will pull hot air out of the attic and living areas and draw cooler air in.
-- Use an exhaust fan to blow hot air out of your kitchen while cooking. The savings in your cooling costs will far outweigh the fan's electricity use.

There's No "I" in Realtor

As my kids have grown up, we have cheered and watched them play, soccer and baseball.  The most enjoyable years were when they were on a great team - a group that was equally motivated and worked together.  As we finalized  the contract on a recent listing my client commented how this was a great "team" effort.  Later that week another client (whose home recently closed) told my husband how he appreciated our "teamwork" in the sale of their home.  It was then that it occurred to me the niche I bring to the table as a Realtor.

Teamwork - I would love for all my clients to be able to say we were a team - we worked together for a mutual goal and achieved it.  Those goals can be
1.  Finding the perfect (or near perfect) home
2.  Netting a certain amount from the sale of your home
3.  Closing your home near a certain date
4.  Exposing your home in the most technological way you can
5.  Moving to the neighborhood/near schools/ or location you desire

I try to connect with my clients the best I can, and identify with where they are at emotionally - Realty transactions can be very emotional and cannot be discounted.  For a recent client we were negotiating a contract for a 1st time home purchase.  Something just didn't feel right about it - they didn't have the "yes, we love this house" and seemed resigned to settle.  I got up early the next morning and came across a listing that just came back on the market. I called the client and asked them to meet me there before we countered on the other house.  Once they walked in you could sense the "yes, this is it!"  We cancelled the one contract and made an offer that was accepted.  We were a team!

I have personal goals as well when it comes to selling a home - the longest I have ever had a home on the market before a contract was 48 days.  If anything gets close to that mark, I begin to take it personally. You can ask any of my clients, I work creatively and aggressively to get a home sold; communicating honestly assessing  market conditions and pricing; providing different scenarios or ways of looking at things to help you make the best decisions.  We brainstorm together to think outside the box.

If you are ever in the market for a Realtor  - I hope we can team up to achieve your goals!  It is working together that ultimately brings success.