GROOVY – what a true 1970’s word! Well, I showed a home this week to a client and it had “groovy” touches all over the place. Some features were undoubtedly big attractions for the mid-70’s home shopper. It had an intercom system (I snapped the pic above), a sunken bathtub, and the massive two-sided brick fireplace which served both the sunken living room and sunken formal dining room! I almost expected to walk around a corner and find one of those Spanish-inspired knight sculptures standing guard over the place! 😉
Well, I can honestly tell you that I receive zero calls from clients who are seeking a groovy, “sunken” 1970’s home. However, if the home’s location is good, some clients do have the fortitude and resources to buy a home at a good deal and refurbish it for a more modern lifestyle.
Did you grow-up in a groovy, Brady Bunch inspired architectural wonder? If so, you might have spent quality time in a sunken family room and enjoyed some FM radio throughout the place via a high-tech intercom system like this home featured!
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 have a couple of clients who are currently shopping for townhomes in the Metroplex, so I thought I’d do a quick blog post about the advantages and disadvantages of this type of property.
First, the down-side:
Townhomes can sometimes be first to dip when the real estate market makes a downturn. You have common walls with neighbors, and sometimes parking space can be a challenge (especially for guests, but most units have a 1 or 2 car garage included), and what about those HOA dues which are in addition to your mortgage payment? You just need to be sure that the amount you’re paying monthly is providing you with sufficient value in return.
The BIG advantage to owning a townhome? It’s typically a very low-maintenance, “lock and leave” lifestyle. Exterior maintenance, landscaping, and etc. are typically handled by the HOA / property management. You have the benefit of home ownership without the usual maintenance issues. Many townhome developments offer amenities such as pools and clubhouses, but they don’t have that “apartment feel”.
One of my favorite townhome communities is Home Town in North Richland Hills, TX. It’s very picturesque there (see photo with this post), and the central location is great for people who need to commute to Fort Worth or even to points East for work. Prices there average about $100 per square foot, so a 1,400 sq ft unit costs about $145K as of this writing.
Thinking of taking the plunge into home ownership, but don’t want the maintenance responsibilities? A townhome might be JUST the ticket for you! Let me know if you have questions – I’m happy to help!
I recommend 100% of the time that my home buyers obtain a home inspection as soon as possible once they contract to buy a particular home. Why? Because a licensed inspector has ZERO emotional attachment / financial interest in the home. They’re a highly-trained, impartial party who looks for clues and gives a report based upon their training and expertise.
The inspection process examines key components and systems of a home which sometimes have hidden flaws and may be expensive to repair. If the issues are discovered early in the contract phase, they can often be repaired and/or sales price concessions can be negotiated as compensation for the issues.
Some of the major areas reviewed by an inspector are: roof, foundation, appliances, HVAC system, plumbing, electrical, windows, etc. If a specialist is needed for an additional assessment, their report will recommend that (for example, if there is evidence of potential foundation issues, the inspector will recommend that a foundation specialist or structural engineer perform further evaluation).
Since a home inspection is usually just a few hundred dollars and you’re in the process of making one of the largest purchases of your life, please don’t cut corners on this important due diligence step in the purchase process.
Within my network are amazing inspectors who do excellent work for my clients every day! Let me know if you’d like a referral to one of them.
Do you dream of elbow-room, country air, and a mortgage loan with a ZERO down payment? Well, the USDA loan program is still alive and kickin’ and offers just that. It’s specifically offered in outlying, less-populated areas. The photos below … Continue reading →
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!
A book that helped revolutionize my thinking back in about 2010 or 2011 is Quitter by Jon Acuff (he’s a speaker and author who’s on staff at Dave Ramsey’s organization). In this simple, practical, and profound book, Jon’s basic encouragement is to fall in “like” with a job you don’t love while you spend your spare time working on a plan to ultimately pursue your passion in life full-time.
How many of us postpone our dreams day after day for the “security” of a J.O.B. only to discover one day that we are downsized, rightsized, or at the very least, not actually following our calling?
If you’re interested in a resource that can help you hold-on to where you are and have a good attitude about it, while simultaneously encouraging you to come up with a workable plan to ultimately follow your passion, Quitter is awesome!
Have an awesome week being faithful where you currently are in life, but don’t be afraid to believe in a brighter future, too. Do enough dreaming followed by planning and action, and you could shortly be livin’ the dream! Me? I’m a professed quitter and proud of it. 🙂