Have you ever applied for a home mortgage and had to give the same information to the mortgage provider more than one time?  Well, you are not alone.  That seems to be a question or complaint that I hear often.

Why do they need it two times?

You see, maybe you gave what you thought they needed or thought they were requesting. However, after that financial information was reviewed, what you supplied did not fully answer their questions or maybe that information lead to another question which needed further explanation.  So, what happens is that the mortgage provider has to request the information again and quite possibly has added further request along with it.  Are any of you beginning to shake your heads in agreement indicating that this has happened to you. too?  I thought so!

Why do the mortgage company need to know where I got that money?

Have you ever made a large deposit in your account after you had a mortgage application in progress and are now  being questioned about where that money came from?  More than likely you are asked for documentation for that as well.  Again, you are not alone.  Nobody is picking on you.  The mortgage company is just doing their job.

 What should you do?

As a REALTOR, the very best tip I can provide my clients is to give each piece of information and documentation to your mortgage provider that they ask for as quickly as possible.  If you have a question, by all means ask, but do yourself a huge favor and do not fret about it.  After all, you do want the loan and the mortgage provider surely does want to provide for you.  However, he or she does have their guidelines to follow and the quicker and smoother you work together, the more pleased you will be in the end.

Reward is Home of Your Dream

Whether you are in the beginning home buying process stages or you are ready to select your home, visit http://www.clearlakeandleaguecityrealty.com. There is valuable  information waiting for you.

First, prioritize those renovations that will have maximum impact, both in terms of aesthetics and investment values.  Also prioritize the projects that will enhance the livability and enjoyment of your home.

Next, decide whether or not it makes sense to handle those projects on your own or call in a professional for help.  According to the experts at Sears Home Services, while talking on home remodeling yourself can seem daunting, enlisting the right help can make the process simple and seamless.

Here are three areas of the home to put at the top of your list this year:

The Bathroom

According to the National Association of REALTORS , one of the best investments in a home is a bathroom renovation.  Remodeling a bathroom that’s more than 25 years old substantially increases the value of your home.  While your bathroom may not need a complete makeover, updating cabinets, lighting, tiling or countertops can go a long way toward improving design and functionality.  Or consider a few quick fixes, such as a new towel bar, shower-curtain rod, robe hooks or showerhead.

The Kitchen

The kitchen is the heart of the home.  Kitchen renovations don’t need to be dramatic to be impactful.  Updates such as new countertops, cabinets, appliances or flooring can all dramatically improve the kitchen.  These improvements can also help yield increased functionality and space throughout the kitchen.  For a simple refresh, homeowners can give their kitchen a new look by replacing the hardware on cabinets, painting or updating fixtures.

The Floors

A great way to upgrade an area of your home and pull a room together is to install new floors.  There are many options to choose from:  tile, laminate, porcelain or ceramic tile, vinyl or hardwood.  Consult a home-improvement retailer or flooring expert to help make the best choice and to ensure proper installation.

For more specific information on your particular property, email Kay Horacefield and visit Clear Lake and League City Realty.   Call Kay, we are ready to answer all of your questions and provide the support.

Rebecca Kolls, the consumer strategist of home and garden for Iconoculture—a leading consumer trends advisory firm—has been getting a lot of attention talking about the most anticipated 2012 home decorating trends.

She says 2012 will not be about flashy, over-the-top design; but rather, about decorating for real life—a home that’s smaller, more well-equipped and custom-made for its owners’ lifestyles.

Kolls says 2012 trends highlight practicality, rightsizing, style-telling and universal design. She says despite a decrease in average overall square footage, kitchens are growing, homeowners are adding more porches, ditching the conventional living room concept and embracing fewer – yet larger – rooms.

Instead of one purely decorative element, Kolls says homeowners are springing for more affordable luxuries with experiential benefits.

In the bedroom, these purchases include new mattresses for increased comfort and a better night’s sleep, plus items like improved lighting and window coverings that facilitate a gentle transition from sleeping to waking. Bathroom remodels include items like towel warmers, steam showers and multiple body spray outlets that promote relaxation and spa-like indulgence.

Furthermore, Kolls says homeowners in 2012 will be looking to tell a story through their decorating, with pieces that put a personal stamp on their spaces. People are stylizing the most-used room in the home—the kitchen—by adding workstations, artwork, photography and more furniture-like cabinetry enhanced by decorative cabinet knobs and pulls.

And since baby boomers are caring for their parents, their children, and sometimes even grandchildren, all while making plans for their own future, Kolls says more will want to spend the rest of their lives in their own home.

That also means homes with several generations under one roof will be utilizing technology to help keep all members of the family safe and well. In fact, Kolls predicts that wireless home health monitoring technologies are expected to grow by $4.4 billion by the year 2013.

That is a trend we’ll talk more about in the New Year.

By: John Voket

If I Would Have Bought Back Then in the Houston Area

Dad Said It…

“I Remember when I could have bought a home in Houston, Texas, right there on that exact corner!  If I would only have done it then I would be better off now!”  That is the message that I hear often from my dad when I was growing up.  Now it seems as if I will hear the same type of comment very soon from people all around the Greater Houston, Texas, area.  Maybe you are wondering why I would say that.

The simple reason is this: In talking with many clients about making an offer on a property, they do not want to get off of the fence and actually buy the home.   They do like the home and would like for it to be their new home address.  They could and do qualify for a loan!  So, what is keeping them from taking the step to move forward and actually sign the offer? Are there steps of the buying process that need clarifying?  Exactly what is causing the delay?

Despite the fact that many homes are being offered at a phenomenally, historically, all time low prices- plus the fact that there are incredibly low financing rates available, some clients still want to “hold out” for a better deal.  After all, it surely must be just around the corner. There are a lot of homes on the market to choose from at this time and I want the best for the lowest price possible.  Have I hear you?  I think so and I do not blame you for one minute.  I, too, want great deals.   

What is Wrong With That Thinking

Let’s use an old saying or two to help answer the question.  “A watch pot never boils!”   “You snooze you loose!” The same is true for real estate in today market.  It is a better financial deal for you to be in the home of your dreams with the current interest rate,even if they dip down a fraction more than the present level, than to have remained on the fence during this remarkable time and watch home prices and home loan rates drift higher.  Inevitably,home prices will rise and rates will go up and you as a client will have missed the opportunity of a lifetime.  Will you be the next one to learn from my dad’s ringing comment?  “I remember when…and I wish I would have…”? Keep that from happening to you and your family.  You can then say to your children, “I am glad that I bought my home in the Greater Houston, Texas, Area when I did!”  Go ahead and “Seal Your Real Estate Deal With A Smile.  Call Kay!  

A Look At The Overall Houston Single Family Home Market

90-day stats for Single Family properties in HOUSTON, TX as of February 3, 2012
Median List Price:	$146,706	Average List Price:	$295,385
Total Inventory:	10,190	Price per Square Foot:	$72
Average Home Size:	2,060	Median Lot Size:	7,294
Average # Beds:	3.40	Average # Baths:	2.46
Homes Absorbed:	571	Newly Listed:	474
Days on Market:	177	Average Age:	31

  

To receive weekly automatic updates for specific zip codes in the Greater Houston, TX Area- Clear LakeCity and League City, TX ,  contact The Kay Horacefield Team or simply fill out the form on the right hand side bar of this blog.

I Need More Money for the Sale of My Houston, Texas Area Home

It is Worth More Than That

With the continued headlines for many months that home prices are declining, sellers are still wondering why they should reduce their listing price.  Mr. and Mrs. Seller, I hear you loud and clear.  I feel your uneasiness and I want to help you the very best that I possibly can to get the top dollar for your home. Therefore, I ask, do you really want to know and overcome? Great, I thought you would ask.  The very best advice I have for you is to use the most effective pricing strategy—that is—Price It Competitively.

This might hit a nerve or two in the beginning…but my home is worth more than that! The real truth is that study after study as well as my own professional experience as a REALTOR in the Houston, Clear Lake Texas area, has proven that when a competitively priced home hits the market it automatically attracts attention of the serious buyers. So, reduce your list price and begin attracting some of the buz for your property.  The longer a property is on the market, the lower the offer. History over time has proven this fact.

How Low Do I Go?

The question “So how low do I go?” comes up in the conversation.  Listen to your Realtor.  She will interpret the market.  She does not make the market, she interprets the market and will help you know where to adjust your price so that it has a much stronger chance of being on the SOLD List and not on the REJECTED List.  You do want to sell don’t you?

As a seller you will more than likely ask, “How do you know when it’s time to drop the price on my home?”  When you have no showings in a market that is going down every month, then you are losing money daily and chasing the market. 

Tough Talk on Pricing 

Therefore, we will have to have a tough talk on pricing.  I say tough for two reasons: 

1.  Tough for you to hear as owner.
2. Tough for me as a REALTOR to help you see. 

Buy you do want to hear the truth, so the conversation must take place.  It doesn’t matter which comes first – ten showings, no offers or two weeks without a showing means the house is overpriced.  You are chasing the market, so reduce it right away.  Buyers buy the home with the best value.  Today they have many choices.  Let’s make yours the one that they chose!

 In the Greater Houston area including Clear Lake City, League City, Friendswood, Pearland, Kemah, Taylor Lake , Alvin, Dickinson, Sugarland, Baytown, Crosby it is a strong buyer’s market.  Price accordingly and get your property sold.  For more specific information on your particular property, contact Kay Horacefield at kay@callkay.com and visit http://www.clearlakeandleaguecityrealty.com/.

Cell Phone Numbers Go Public this Month

Houston Clear Lake and League City residents protect your cell phone numbers from telemarketing companies.  Cell phone numbers are being released to telemarketing companies and you will start to receive sales calls. 

You will be charged for these calls!

To prevent this, call the following number from your cell phone:  888-382-1222.  This is a National DO NOT CALL list.  It will only take a minute of your time.  It blocks your number for five (5) years.  You must call from the cell phone number you want to have blocked.  You cannot call from a different phone number.  If you have any difficulty you can go their web site.

You, like me, know how much this could save you in money and inconvenience.  Without a doubt, passing along this information to Houston Clear Lake and League City, TX residents, you can see how much the Kay Horacefield Team cares for  you.  Make the call today!

Until next time,

Kay Horacefield

If you are like most home buyers in the Houston Texas, Clear Lake City and League City, Texas area, you begin your new home search process on line.  Isn’ t that a comfortable and fast way to find a home?  You can even do it from your favorite recliner in front of your TV with nobody asking you any questions.   I agree, that you can and will get a vast amount of information rather quickly.  You can find a multitude of resources.  The real question is.. “Are you definately finding someone who can almost magically understand your wants and needs?“ Someone who want to help you know how to clearly and specifically voice your wants and needs.  Here is a helpful tip:  don’t be afraid of making a connection and building  a relationship with a REALTOR who skillfully knows how to communicate with you.  Remember the help is free, so step up to the plate and ask.   Read on to find out ‘the real key” to this well kept secret.

The Real Key

• First and foremost, really get to know each other.  Empowerment for each other will come by sharing information so that the REALTOR can show you how to use her skills and professional knowledge to your advantage.  Now, doesn’t that sound fantastic and refreshing? 
• Of course this will not come in one quick email or online inquiry.  It will be a continuous process with checks and balances for clear understanding for  both parties… you as client and the REALTOR.  There will be stops along the way to celebrate successes.  Plus, without a doubt there will be guaranteed fun along the way.   Follow along to see the well kept secrets of how this automatically works…just like magic!

The Well Kept Secret

Getting from Point A (The point you start) And Ending at Point B (The point you want to end up)

Point A: Techniques  you can use to get specific with your REALTOR

• Describe for your REALTOR…
• Tell your REALTOR about…
• Share your attitudes about …
• Share your feelings concerning…
• Share what your feeling would be if…

Modifiers to use for more clarification:  (These also help stimulate your thinking and that of your REALTOR to achieve even clearer understanding for both.)

• How
• What
• When
• Where
• Why

To further clarify what you are trying to communicate, use this tag line: 

 What _____ means to me is…….

At this point of your conversation your REALTOR Will Be Able to Summarize What You Have Said

• It appears that….
• So what you are telling me…
• If I understand you correctly…
• What I hear you saying is…
• So one of the things you are looking for is…..
• The thing that is most important……

Point B: Where you want to end up—Your Realtor Now Has Clear Understanding of Your Wants and Needs

She can now confidently say to you:

• So one of the things you are looking for is…..
• The thing that is most important…..

To Sum It Up

When I hear my potential buyers say, “Oh my, how did you know that?  Or, ”Nobody has listened to me like that before”, I know that I have been successful in three ways.

1. Helped them discover what they really wanted.
2. Helped them clearly articulate their real estate concerns.
3. Made it easy for their needs to be met without stress and confusion.
4. Help them in the most convenient and efficient way regarding their privacy and use of time.

To get your real estate convesation started right away, Call Kay! at 713-898-6954, email kay@callkay.com or visit http://www.ClearLakeAndLeagueCityRealty.com  With the current inventory high and the market giving the buyers a definite edge, now is the time to take advantage of the great opportunities to become a new home owner.  You will, without a doubt, want to take action right away.

Until Next Time,

Kay Horacefield

No doubt you’ve heard the news that the housing market has hit a rough road in the last few months.  Sale of single family existing homes have declined at a rate that have taken many by surprise.  This has caused a mind’s tailspin of wondering “what’s next”. 

The savvy buyers  are not missing a beat , they are seeing beyond the one dimensional view.  They are seeing the more favorable climate for buying a home in Clear Lake, League City, and Friendswood, Texas.  At today’s rock  bottom rates,  economist says that buyers stand to save $8,ooo many times over during the course of a  30-year  mortgage  even with another $8,000 tax credit now off of the table. 

Why Now is the Prime Time to Buy in Clear Lake, League City and Friendswood, Texas

• Home affordability is at an all-time high
• Mortgage rates are at rock bottom
• Home prices are trending to rise—Buy NOW
• Sellers are motivated
• Financing is readily available
• Owning vs. renting is increasingly favorable—average principle and interest payment has fallen below the average rental rates 
• Home ownership is still at the core of the American Dream!

For individual home buyers, there are only a few facts that really matter:

1. Can I afford this home?
2. Is it a good investment?
3. Does it meet my family’s needs?

To Sum It UP

Don’t let this prime time pass you buy, take action and BUY.  Years down the line you will be saying, “That was a very wise home purchase.  I am so glad that I took advantage of the buyer’s market !” I am glad that we did not get caught up in the “tail spin mind thinking” or we  would not have this great home in Clear Lake or League City or Friendswood, Texas.

First Time buyers, Move Up Buyers, and Investors Call Kay! right away to buy a home in Clear Lake, League City or Friendswood, Texas.  It is easy to do!  You will be glad you took action today. You, like me, can see the great opportunities to become the proud owner of a new home.  I’m sure you are saying the same thing.  I can see you head shaking, “YES.”

There are three reasons why a home sells:

• Price

• Condition

• Location

Trying to attach a market value to a home is very difficult.  It is complex equation of factors including showing quality, time frame for sale, location, buyer needs, etc.  It is very important to think carefully about your asking price.  You want to get you the highest price, but still sell the home when you need it sold.

Seller control salability:

1. Seller controls the condition of the property.
2. Seller controls the terms they will consider.
3. Seller controls the asking price.

The Market determines value:

1. Beyond the control of the seller is the value a buyer will assign to a given location and the number of homes for sale in that location.
2. Buyers are not intested in what a seller paid for the property and how much you have spent on redecorating.
3. Buyers are not interested in the amount of money you will need to purchase your nest home.
4. Buyers will always search the marketplace for the best value.

Myths can keep you from securing Home Ownership in Clear Lake and League City, Texas. Overcome the myths and be on your way to your new dream home!

Myths about Mortgages:

Mortgage Myth #1:  I had some debt when I was young and I ruined my credit.  I’ll never get a mortgage.

• You don’t know what your credit history shows until you look.  And if you do have blemished from the past, lenders will show you how to improve your credit and restore good credit practices on your part.

Mortgage Myth #2:  I heard that you need to put 25% down to buy a home.  But my friend says that you can get a mortgage with no down-payment at all!

• Both scenarios are uncommon.  Although there are a variety of financing programs available, most require you to put at least 3.5-10% down, but rarely would you need 25%.

   Myths about Agents

Agent Myth #1: If I have several agents looking for homes on my behalf, I’ll find a house more quickly.

• Like most relationships, this one thrives on communication, loyalty and trust.  By working exclusively with one agent you will improve both the process and the results.

Agent Myth#2:  If I want an agent to represent me as a buyer, I’ll have to pay them myself.

• Buyer representation means that the REALTOR you select works with your best interest in mind.  In most cases, however, they receive a portion of the commission paid by he seller.

Myths about Buying:

Buying Myth #1:  I should find a new home first before I sell the one I now own.

• If you find a buyer for your home first, you’ll have more negotiating power in both the sale of your current home and the purchase of a new one. 

Buying Myth #2:  I just made an offer on a house I love.  But so did several other people.  I’m worried that someone else will out bid me and get it.

• Different sellers are motivated by different things.  In addition to price, a seller will look at the other terms of the offer–contingencies, closing date, required repairs, etc.  Many times a “clean” offer from a pre-approved buyer will be more attractive, even if the price is slightly lower.