The Difference An Hour Makes This Spring 

by The KCM Crew

Some Highlights:

• Sunday, March 13th, we "Spring Forward" one hour for Daylight Savings Time (except for our friends in AZ).
• Every hour in the United States, 624 homes will sell and 118 homes will regain positive equity.
• The median home value will also increase each hour in the United States by $1.84.

www.PattiLee.Properties

www.WiseRealEstateTX.com

EMAIL

Housing Market To “Spring Forward” This Year

www.keepingcurrentmatters.com

Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.

Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.

Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.

That hasn’t happened this year.

Demand for housing has remained strong as mortgage rates have remained near historic lows.

The National Association of Realtors (NAR) recently reported that the top 10 dates sellers listed their homes in 2015 all fell in April, May or June.

Those who act quickly and list now could benefit greatly from additional exposure to buyers prior to a flood of more competition coming to market in the next few months.

Bottom Line

If you are planning on selling your home in 2016, meet with a local real estate professional to evaluate the opportunities in your market.

www.PattiLee.Properties

www.WiseRealEstateTX.com

EMAIL

4 homebuyer-assistance programs you may not know about Since 2005, Texas REALTORS® have helped an estimated 27,500 homebuyers take advantage of state-administered homebuyer-assistance programs. However, a large percentage of buyers remain unaware of these beneficial programs. The Texas Department of Housing and Community Affairs (TDHCA) has a variety of mortgage products designed to help more Texans become homeowners. TDHCA-administered programs target first-time homebuyers, veterans, or those who have not owned a home in the past three years. Here are four popular state-administered to keep in mind when working with your buyers. Texas Mortgage Credit Program: Helps buyers year after year ​Homebuyers using Texas Mortgage Credit Certificates (MCCs) receive a reduction in their income-tax obligation of up to $2,000 per year for the life of the mortgage loan. This means more cash available to be a responsible homeowner. My First Texas Home Program: Offers loans and downpayment and closing-cost assistance My First Texas Home (MFTH) offers expanded mortgage-loan opportunities to qualifying first-time homebuyers, including government and conventional 30-year, fixed-rate mortgage-loan options that can also include downpayment and/or closing-cost assistance. Conventional option: Provides flexibility for homebuyers The TDHCA offers a conventional option under MFTH that is ideal for borrowers with limited funds for downpayment and closing costs, and those who need extra flexibility on credit, income sources, or access to special options, including up to 97% loan-to-value (LTV) ratio with reduced-rate mortgage insurance (MI). The MI can be canceled at 78% LTV, which can mean long-term saving for the borrower. MCC and loan combo: Maximizes benefits Your clients can maximize their home-purchase benefits by combining Texas Mortgage Credit Certificates with a mortgage loan. To learn more about these options, contact a participating lender via myfirsttexashome.com or call 800-792-1119. Jill McFarren is senior communications and marketing advisor for the Texas Department of Housing and Community Affairs.  www.PattiLee.Properties www.WiseRealEstateTX.com EMAIL

Home Prices Up 5.76% 

Across The Country! 

reposted from keepingcurrentmatters

Some Highlights:

• The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
• In the report, home prices are compared both regionally and by state.
• Based on the latest numbers, waiting to move may end up costing you more!

www.PattiLee.Properties

www.WiseRealEstateTX.com

EMAIL

Don't think you need a buyer's agent?

Think again

Whatever your reasons for not hiring a buyer's agent, they probably aren't good enough to forgo such an important homebuying resource. Here are three reasons why hiring a buyer's agent can benefit you.

You'll have someone on your side 

Hiring your own buyer's agent will ensure you have someone working on your behalf with your best interests in mind. You'll also have someone who will handle communication with the other party, and keep your transaction on track. And when you have questions during the process, you'll have someone you can trust providing the answers.

You'll probably save money 

There is usually no direct cost when you hire a buyer's agent, since sellers typically cover the agents' commissions. Plus, you'll have an expert negotiator working for you. Even if you think you're good at getting deals, a buyer's agent has experience negotiating sale prices in your market, and has access to data that will help you create a more accurate offer price than what you'd come up with on your own.

You'll reduce your chances of legal trouble

Are you comfortable with earnest money, option fees, and title insurance? Real estate transactions are complicated with continually changing laws and procedures. Unless you're dedicated to keeping up with the latest industry news, you're putting yourself at risk of losing money or winding up a party in a lawsuit. Buyer's agents keep up with the laws and know ways to reduce your risk in a real estate transaction.

reposted from texasrealestate.com

www.PattiLee.Properties

www.WiseRealEstateTX.com

EMAIL

5 Compromises Worth Making When Buying a Home

By Liz Alterman

Home buyers often start their search with a long list of must-haves … only to find they need to whittle it way down once they see what’s within reach. Unless you’re a bazillionaire, it’s impossible to check all those boxes on the wish list. So, how do buyers decide what pieces of their dream (home) they’re willing to hack off?

Imagine a triangle with price, location, and size/style/upgrades at each point. In most cases, you will have to be ready to give up on one of those three, says a Realtor® in Denville, NJ. “Expect to compromise. If you get 80% of what you want, you’re lucky.”

We asked experts to name some common concessions and offer words of wisdom—or warning—on how those trade-offs can play out.

Compromise No. 1: Location

It’s one of the first thing agents say their clients are willing to budge on.

“While they might want to find a home that is within walking distance to the downtown area with shops, restaurants, and public transportation, buyers do not want to compromise on their living space,” says  a Realtor in Short Hills, NJ. “After all, they live in the home. Sometimes these homes are too small to fit their lifestyle needs, or the larger in-town homes are simply above their price range. So the dream of a walk-to-town location very often will get removed from a buyer’s must-have list.”

Compromise No. 2: Square footage

But not everyone is adamant about doing everything they can to keep from downsizing. After all, if you’re willing to skip that guest room, playroom, or dining room, you may be able to stay within your budget and live in a nicer neighborhood, points out a Realtor in Manhattan, NY.

“Sometimes the reward is not paying long term for family and friends to be able to stay in your home,” he says. So, if you’re hoping to discourage the in-laws from spending three weeks with you each summer, this compromise could work out for the best!

But, real estate agents warn, if your space needs might grow in the near future—say, if your family is expanding—you might want to think twice before moving into a tight squeeze.

Compromise No. 3: Yard size

Plenty of buyers fantasize about landscaping a sweeping garden, or at least having an outdoor pool or hot tub—until they see what they have to shell out (or give up) to get it

“When it comes to describing their dream home, buyers frequently say they want a large backyard,” Minken explains. “After seeing lots of places, however, buyers realize that the size of the backyard is not as important as the spaciousness of the interior of the home.

“When I ask my home buyers to qualify what they mean by a ‘large’ backyard, the answer is almost universally the same: ‘large enough to fit a swingset.'” And that’s not exactly football field-size. “So that means they have more homes to choose from, especially when inventory is low.” 

That said, house hunters are more stubborn when it comes to the terrain itself.

“They prefer a flat backyard to enjoy with their family and friends,” 

Compromise No. 4: Awesome garage

“For the first-time home buyers who are moving from an urban area to the suburbs, it often comes as a surprise that not all homes have a two-car garage,” Minken says. “Older homes, built in the early 1920s and 1930s frequently do not. While there are homes that do not have a garage at all—and these homes are a much harder sell—buyers will compromise and buy a home that has a one-car garage if the home meets the other items on their must-have list.”

Buyers are often flexible on the type of garage as well. Some garages are detached, which means that buyers can’t enter directly into the home from the garage—helpful during inclement weather. And some single-car garages are attached to the house, but—surprise—there is no entry from the garage into the house.

Compromise No. 5: Specific architecture

So, you’ve always pictured yourself in a Craftsman bungalow, until you saw the asking price. If you suddenly find yourself smitten with a Cape Cod, it’s OK; you’re not alone.

“Whether it be the architectural style of the house or type of kitchen counters​, those things are one of the first things mentioned when clients tell me what they want,” notes a Realtor in Sherman Oaks, CA. “But when compromises have to be made and they’ve had time to look at homes for a bit and consider their budget, the home’s aesthetics usually are the thing they choose to overlook.” reposted from realtor.com

www.PattiLee.Properties

www.WiseRealEstateTX.com

EMAIL

Refinancing: The Right Move?

Refinancing: The Right Move?

The federal reserve recently raised interest rates, and if you have an Adjustable Rate Mortgage (ARM), it may be a good time to consider refinancing your home. There’s no one-size-fits-all answer to whether your should refinance, so here are a few of the main considerations.

How long does your introductory rate last? Most ARMs have a fixed rate for the beginning of the mortgage. This is an introductory period (usually 3-10 years) when your rate will remain constant before it can be adjusted. If you have several years left in your introductory period, you can monitor interest rates for a while before making a decision. But if the intro rate is ending soon, it’s a great time to explore refinancing at a fixed rate.

How long are you staying? If you plan to sell your home soon—especially if you’re still on a fixed introductory rate—there’s not much motivation to refinance. But if you’ll be at your home indefinitely, you should consider your refinancing options. You could eliminate the stress of not knowing what your future mortgage rate and payments will be.

What’s your loan balance? The change in your mortgage payment will of course be determined in part by your remaining balance. If you owe $100,000-$200,000, a new interest rate may not greatly affect your monthly payment. On the other hand, if you owe $500,000, a change in interest rate could lead to a much higher payment.

Other factors The previous items are just a few of the factors that should go into a decision about refinancing. Changes in income and your current credit score should also be considered, so be sure to weigh your options and make an educated decision.

www.PattiLee.Properties

www.WiseRealEstateTX.com

EMAIL

---

Start Seedlings Indoors Like A Pro! Get a jump start on spring planting by starting your seeds today!

Start Seedlings Indoors Like A Pro

Get a jumpstart on spring planting by starting your seeds today!

Written by Anne Reagan

It may be too cold outside to think about your summer garden, however winter is the perfect month to start growing seeds and seedlings indoors. Starting your seedlings is cheaper than buying a small plant and you can have access to a much wider variety of plants. Here’s the best way to successfully start growing seedlings inside your home.

Sort Seeds

Some seeds should be planted directly into the ground and some should be started indoors. When purchasing your seeds, sort your packages in to two piles – those that will be planted directly into the ground should go in one pile, those that need to be started inside should go in another. Many vegetable seeds will get planted directly into the ground. When in doubt, read the back of the package. Most packages state when the seeds should be planted “…before the last frost date…” You can determine your expected last frost date by checking the Farmer’s Almanac, Frost Date Calculator. If you don’t see any information about when to start the seedlings, a good rule of thumb is to start the seeds about 6 weeks before the last frost date. If your packages give specific dates (5 weeks before last frost date, 4 weeks before last frost date, etc.) further sort the “inside” packages.

Seed Containers

You can use nearly any type of container to start your seeds, just make sure the container is about 2-3 inches deep and has drainage holes. Seed starter kits are easy but you can also use empty egg cartons or paper cups (just poke several holes in the bottom). Use good soil mix for your seedlings, not regular soil from your yard. It will have the right texture for the seeds to start germinating.

Temperature and Light For Seeds

The tiny seeds are not ready for the cold temperatures outdoor. The best temperature for seed germination is around 78′ F although some seeds can germinate at lower temperatures. If your indoor temperatures are too cold, consider small heat mats under the containers or place the containers on top of a warm appliance like a refrigerator. Once germination has taken place, most seeds can withstand lower temperatures and will require natural light. Many gardeners choose a windowsill location for the early growth stages of the seeds. If your natural light is too weak, full-spectrum fluorescent light bulbs, hung as close as 3 inches from the seedlings, and left on for approximately 12-14 hours a day

Water and Moisture For Seeds

Seedlings need constant moisture, keep them wet and moist but not soggy. Before they sprout, some gardeners keep a lid or plastic wrap over the containers to ensure high-humidity levels. Once the seeds have sprouted the covers should be removed to prevent mold from forming.

Seed Fertilizer and Nutrients

Baby plants should be given a liquid fertilizer once the first leaves appear. Because the plants are delicate, read the instructions carefully about dosages. There are many organic fertilizer solutions like Organic Liquid Fish.

Check Seeds Daily

Seedlings are baby plants, and like all babies they should be watched carefully. Check on them daily to assess their temperature and moisture levels. Once the seeds start growing, and you’ve been fertilizing them, gauge your outdoor temperatures. If it looks like your winter weather will be around awhile longer, you’ll want to keep your seedlings indoors. If your weather is warming up, you may be ready to plant them a bit early. Consult the individual packages for best outdoor planting times.

Quick seed identification tip

Using a plastic spoon or fork, invert the utensil into the row or grouping of the seeds you wish to identify, with the spoon or fork tines pointing up. Cut or tear the empty seed package and slip it over the top of the utensil. This way you’ll have all the necessary details handy.

www.PattiLee.Properties

www.WiseRealEstateTX.com

EMAIL