I evaluated some investment properties in the Hurst/Euless/Bedford area this afternoon, as I have several clients who are jumping into the investment market right now. See photo of one of them, currently priced in the $70K’s and would likely rent for about $850 to $900 per month. That’s good cash flow for most investors. The home rental market is extremely strong these days in the Metroplex.
Most lenders require 20% to 25% down payment to buy an investment home, and interest rates are typically below about 5% at this time for that type of loan. Why not have a tenant pay down your indebtedness for you, as eventually you’ll have a paid-off asset in your portfolio. 🙂
You might be surprised to learn that there are 245 available properties in Tarrant county right now, priced between $50K and $100K, and with at least 3 BR and 2 BA and a garage! GREAT opportunity for first-time home buyers and investors alike! I’d be happy to send you the list (or one for any county in N. Texas) – just let me know.
Give me a shout at any time – it’s my pleasure to be of help to you in any way that I can. Ready to begin your search? Click HERE.
I can definitely tell you that this year is shaping-up to be strong for real estate in DFW. As I’ve discussed with several of you lately, this Jan/Feb has felt more like a Spring/Summer market here!
As such, I want to be sure that you have resources to guide you along the way to your dream home this year. Realtor.com has provided a handy downloadable guide which expands upon the following 5 steps:
1.) Prepare like a pro. Make your list of “Must-Have’s” for your next home.
2.) Know what you can afford. There’ve been lots of changes in the mortgage lending industry over the past few years. I can connect you with a truly knowledgeable mortgage professional.
3.) Take your search on-the-go. There are some excellent apps out there for your phone or tablet. BTW, Realtor.com has a great app!
4.) Find the right partner. Connect with an agent who’ll seek win-win solutions and always puts your interests ahead of their own.
5.) Make an attractive offer. In a competitive seller’s market, I can advise you on some of the best ways to present yourself as a bonafide buyer.
So, hop on it – go for it – just do it, etc.! 😉 I’m here for you all day, every day when questions arise. Let me know what you’re thinking, and we will make a plan to help you get to your dream home this year!
Well, what an interesting early 2013 real estate market it’s been so far! Home prices are on the rise in most areas and there aren’t enough homes to go around (classic supply and demand concept), AND mortgage interest rates are STILL at near all-time lows!
What does all of this mean? Well, home sellers who’ve been on the fence about putting their home on the market might should consider making the leap soon (since supply is low and sales prices are on the rise). Home buyers should consider buying now BEFORE the Spring season kicks-in and while mortgage interest rates are still so low.
In several cases, I’m having trouble finding available homes for my buyer clients right now. Do you know anyone who’s considering selling? I need to talk with them, please. 🙂
Have an awesome day out there!
P.S. Today’s graphic was provided by Bob Paulus of PrimeLending – he gives excellent service to my clients every single day! Thanks for all of your help, Bob!
I sat down this morning over a cup of coffee and reviewed the 2012 Profile of Home Buyers and Sellers from the National Association of REALTORS, and I found some of the stats pretty interesting.
For example, 36% of Texas home buyers looked online as a first step in the home buying process, and the typical home buyer in Texas searched for 8 weeks and saw 10 homes before buying (on average). Also, in order to find an Agent to help them, 36 percent of Texas buyers in 2012 used a referral from a friend or family member and 13 percent used an Agent that they had used previously.
Thirty-five percent of buyers in Texas in 2012 were first-time buyers, and 69 percent were married couples. Buyers cited the quality of the neighborhood, convenience to job, and overall affordability of home were the top three factors influencing neighborhood choice.
The bottom-line: although there are lots of online resources to assist buyers with learning more about the home inventory out there and about the home buying process in general, most buyers value the expertise and guidance of a licensed Agent to help them navigate the maze and protect their best interests. 🙂
If YOU have questions, I’m here to help. Have a great weekend!
I began sending and receiving text messages on my Motorola Razr over 10 years ago. At the time, few people even knew how to send a text and very few would ever predict that it would take over the world.
Even in the real estate biz, more and more of our negotiation and dialogue happens via TEXT every single day. For example, take a look at the photo above. This is an actual text that I received from another Agent today. 🙂 I think I’m going to need a text-ologist to crack the code on this. Ha!
Have a FUN weekend trying to decipher some of the text messages that YOU receive…
Are you considering making a move this year? If so, reading online reviews about an Agent, Loan Officer, etc. can really be helpful in deciding if you’d like to engage their services or not. The right “fit” is VERY important.
I recently became a Premier Agent on Zillow.com, and several past clients graciously took time to post reviews of my services on the site. They provided insight about their home search and purchase experience. I’m thankful for their sincere, kind comments – they’ll definitely help others to decide if working with me would be a good fit.
What are some creative ways that YOU determine if a professional is right for you?
Hello, everyone! Well, according to the National Association of Realtors, 2012 was a super excellent year for home affordability in the U.S. They’re predicting that 2013 will be almost as good. If you didn’t make the leap to home ownership last year, maybe it’s time to do it. Mortgage interest rates are still hovering near all-time lows, and in many areas home prices are beginning to rise. Anyway, here’s a link to the NAR press release:
Housing Affordability Index to Set Annual Record for 2012
Food for thought, huh? I’m here to answer your questions…
Well, I started this blog almost exactly one year ago when the average FHA 30-year mortgage rate was about 4.05% (1st quarter of 2012). Over the course of 2012, the rate continued to drop all year to arrive at 3.56% by end of November.
This insightful graph covers a 20-year period from 1992 to 2012 for average FHA 30-year fixed mortagage interest rates. The rate in ’92 was more than DOUBLE today’s mortgage interest rate! As you may know, the interest payment is a significant component of your monthly mortgage loan payment, so a drop of even 1% in the rate can have significant impact to your payment.
This graph was furnished by Bob Paulus of PrimeLending, who has provided excellent service to my clients. He’s knowledgeable, personable, and trustworthy. I highly recommend him and his services.
I hope that you’ll get out there and seize some opportunity today!