Visit back here for more details about upcoming tours to include the following:
DOWNTOWN CONDO TOURS COMING IN MARCH
NEW CONSTRUCTION TOURS IN APRIL
GARDEN HOME TOURS IN MAY
Go to http://www.GaryAMarks.com to express let us know which one you may be interested in attending!
Gary A Marks Kathy Rubin Steven Rindorf
With all the tools offered on the internet today for home buyers and sellers it is easy to think that the information you are collecting is accurate. The truth is that these tools are only estimations gathered from information collected electronically and sometimes are off by 5% – 10% or even more. Even Zillow notes this when you can find the fine print on their site which says:
“The Zestimate is not an appraisal and you won’t be able to use it in place of an appraisal, though you can certainly share it with real estate professionals. It is a computer-generated estimate of the worth of a house today, given the available data. Zillow does not offer the Zestimate as the basis of any specific real-estate related financial transaction. Our data sources may be incomplete or incorrect; also, we have not physically inspected a specific home. Remember, the Zestimate is a starting point and does not consider all the market intricacies that can determine the actual price a house will sell for.”
The best way to get a more accurate valuation of a home is to hire a licensed appraiser or get a CMA (Comparative Market Analysis) from an experienced real estate agent within the last six months. The truth is that an accurate value cannot be determined without a professional taking a good look at the property and giving you an honest opinion. Use Zillow and Trulia as a tool to get started. But to truly educate yourself and make a wise decision, use the services of a professional.
For further information read this article from the Washington Business Journal: http://www.bizjournals.com/washington/blog/2014/05/why-you-might-want-to-think-twice-before-trusting.html?page=all
Here are some steps I suggest along with the Texas Association of Realtors you can take toward home ownership without signing any paperwork.
Try out a homeowner’s budget. Although you can’t predict all home ownership costs down to the last penny, you can get a rough estimate of how it will affect your budget. Consider how much you can afford, potential mortgage payment, your local property taxes, and repair costs you might want to consider as a homeowner. Remember, you won’t have a landlord to call when a repair is needed. But purchasing a home warranty when you buy can help protect your budget.
Use an online mortgage calculator or mortgage app to compare renting vs. buying. Find an online mortgage calculator to figure out the payment you can afford. Remember that you will need to consider taxes and insurance. The total mortgage payment always includes Principle, Interest, Taxes and Insurance. The acronym PITI will help you remember this and mortgage companies and realtors. The mortgage company will collect your taxes as part of the payment and will make sure they are paid for you. Check with me when searching for a home about the tax estimate for each property.
Check your credit report. Request a free credit report to find out what a lender would see. Pulling it before you start your property search can be smart—you’ll have plenty of time to fix any errors you may find. If there are legitimate flaws with your credit, you might be able to take steps to improve it before applying for a loan. I can help you find a credit repair professional.
Make a realistic wish list. There’s probably not a property that will have every feature you desire, but it’s good to generally know what you want. For example, while a property with fewer than two bathrooms may be non-negotiable, don’t rule out the potential of one with a not-so-appealing exterior paint job or needed cosmetic updates.
Let me help you get started in the process. It’s a great market and interest rates are very low.
The article below was found in yesterday’s Wall Street Journal shows the top cities for real estate sales and increasing prices right now. Today’s rate for a conventional 30 year loan is 3.75%!! It couldn’t be a better time to get motivated with buying or selling a home in San Antonio!
And this isn’t bad news for most sellers as well, especially in the condo market.
Mortgage giants Fannie Mae and Freddie Mac are now offering a 3% down payment mortgage beginning on December 15, 2014. This will help first time buyers with decent credit but little cash saved for a downpayment to purchase a home. This is not an FHA loan and more details are coming soon but options have just opened up for home ownership.
With San Antonio being one of the most affordable cities for purchasing real estate in the USA this is very good news.
Read the article from Fannie Mae here:
http://www.fanniemae.com/portal/about-us/media/corporate-news/2014/6203.html
If two or more people want to own a property who are not married, rights of survivorship need to be considered. Outside of marriage in Texas, as well as other states, there are two types: Joint Tenancy and Tenants in Common.
Tenants in Common describes a shared ownership in property where the share of the property owned by the deceased goes to their heirs. Partner A and partner B own a property. Partner A dies. Partner B retains ownership of their share. Partner A’s ownership goes to the heirs in his/her will. This arrangement could work well for investors in business relationships where the families continue to hold the property in conjunction with partner B.
But if the relationship is one of co-ownership and outside of marriage then the owners should make sure they take ownership by Joint Tenancy. This type of ownership allows the surviving partner to take full ownership. Partner A dies. Partner B then gets 100% ownership.
When choosing to buy a property in a relationship make sure that you know how title will be defined. Then call me to help you make sure you buy the right property for your needs.
Gary A. Marks, Keller Williams, Heritage, San Antonio.
If current home sales trends continue, this year will become the second-best year ever for Texas real estate, according to the 2014-Q3 Texas Quarterly Housing Report released today.
A strong third quarter saw home sales continue to exceed last year’s levels, says Texas Association of REALTORS® Chairman Dan Hatfield. “The third quarter of the year is typically a much slower sales period—summer is over, school has started, and families are staying put for the upcoming holiday season. That was not the case this year,” Hatfield says.
Here are a few of the report’s findings:
The report uses data from multiple listing services in markets throughout Texas. To see how your market performed in the third quarter of 2014, download the full report issued by the Texas Association of REALTORS®.
Here are some really great events and activities coming up in San Antonio. Some are specifically planned for families with young children. Take a look and enjoy Halloween in San Antonio!
13th Floor Haunted House Sept. 19 – Nov. 8 http://www.13thfloorsanantonio.com
Sisters Grimm Nightly Ghost Walk every Monday-Saturday http://www.sistersgrimmghottour.org
Bud Light Coffins on Parade Oct 31 on the River Walk http://www.thesanantonioriverwalk.com
Dia de los Muertos Nov. 1 http://www.guadalupeculturalarts.org
Monster Bash Oct. 26 (child-safe environment) http://www.sakids.org
Zoo Boo! Oct. 30 – 31 (child-safe environment) http://www.sazoo.org
Go and have a great time!
Dear Friends,
Today I moved my real estate practice to the top producing brokerage in San Antonio. I’m proud to now be associated with Keller Williams, Heritage Office. With their technological advantage and market position, I know I will be able to bring you even better real estate service.
I do take my slogan of “service matters” very seriously and I look forward to providing you even better service. Thank you!
Gary Marks
I thought this would be a great article to pass along from Kiplinger. With all the recent positive economic news potential buyers need to be aware of this. Contact me soon to discuss your options. http://www.kiplinger.com/article/investing/T019-C000-S002-2014-interest-rate-outlook.html
Your Time! Your Home! 