The Offer

Thinking of Making an Offer? 4 Tips for Success. You found the perfect house. You want the house and now it is time to make an offer. This is a very important part of the process and there are a few things to consider before moving forward. Personally, my two key points are (1) be committed and (2) be flexible. Of course it is about negotiation, but go in ready to win and understand you are probably going to have to give a little. Depending on your offer, you may have to give a lot. For example, going in with a low ball offer - especially in a seller's market - it not likely to work. The seller may counter or might suggest a more realistic offer before even considering it. The point is - make a fair offer - and the possibility for success increases. Work with a real estate professional who can offer guidance to get help get you there. For some pointers, check out today's article

Your Home Inspection

WOW - we are on a roll today - this is our third post (and last of the day - promise!). Let's talk about "What to Expect From Your Home Inspection". You are making an investment when buying a home - or a rent house, whatever you are buying. It is best to have a professional who is professionally trained to know and understand the dynamics of a home and all its mechanics do this inspection for you. Typically this is a few hundred dollars based on the size of the home you are looking at buying. The inspection will give you a professional opinion of the condition of the home - and alert you to potential repair or replacement cost. The report from the home inspector also allows negotiation with the seller before you make final commitment to buy the home. Better to know before than after! Have a look at today's report for a little more information (And folks, to be honest - even if you are not buying or selling right now - but just living in your home, if it has been a few years since your home was inspected, it is not a bad idea to make that investment again to see what is going on and avoid surprises).

Based on the last post, I feel a need to share this again

Abiout the 2 Myths

2 Myths That May Be Holding Back Buyers are both unfounded. Fortunately, today many buyers are doing the research, talking to a mortgage professional or chatting with their real estate professional for guidance on how to secure a mortgage and what the requirements are. And those requirements change from time to time so it's a good idea to keep current for the best possible deal. Personally, I recommend going for a mortgage approval BEFORE you look at homes. Find out what amount you can be approved for - and if there are things in the way of getting the approval you want - find out what you need to do to make it happen. You can also get a pretty good idea of how long it may take to clear any issues if you need to. Don't let the myths get in your way. if you want a home - go for it. In the meantime, have a look at today's article for more information

Home Sales Pace

Sales at Highest Pace in 10 Years! [INFOGRAPHIC]. The easiest way to find out the national statistics is review the infographic and today's article. But remember, real estate is local so check with a real estate professional in your area for the most accurate market stats! If you are in the San Antonio area, we would be glad to help you

Now is the Time

Thinking of Selling? Why Now is the Time. There is an old saying - "the early bird gets the worm". So, if you are an early lister (or seller) and you want to catch the buyer out there looking right now... make sense? Not as many home on the market right now means less competition or a tighter market. Buyers can wait too - but some, for their own reasons are out there shopping right now! Think about it - check today's article and when you are ready lets go over the numbers and find out what your home is worth today!

Thinking About Buying a Home

Check out our latest video if you are thinking about buying a home.

Buy or Rent?

Buying a Home is More Affordable Than Renting in 66% of US Counties. What a statement! And - 30 years from now, next month's rent due or no more mortgage payments. Which would you rather have? And, along the way there may be a need to borrow funds for some special reason. You cannot borrow on rent receipts as collateral. You may be able to borrow against your equity in your home. Are you ready to stop paying your landlord's mortgage? Read more in today's article

Low Interest Rates

How Low Interest Rates Increase Your Purchasing Power. Often, the easiest way to understand this and see the impact that rates have is visually in a chart or graphic form. Take a look at today's article and the rate chart that clearly demonstrates higher vs lower rates do for you. If rates move up, given the same payment, you get less house or have to put down more money to keep the principal down and the payment affordable. Bottom line, now is a really great time to lock in the mortgage and get the home that you want - while you can still get more of it!

Closing Cost

Have You Saved Enough for Closing Costs? Many times closing cost come across as a surprise to a first time buyer. That should not happen and that is one of many reasons to work with professionals who can guide you. There are ways to avoid some or all of the closing cost, some ways better than others. Again, work with a professional and get pre-approved for a mortgage to avoid disappointment. Have a look at today's article for more information - or you could call me - Al

Preparing Your House For Sale

Tips for Preparing Your House For Sale. How about 20 tips for getting your home ready to sell. A little time and a little money can go a long way. The right look and curb appeal can help sell your home faster - and for more money. It is a way toward maximizing the return on your investment. Simple cleaning, organizing, fixing anything broken, to a face lift with new paint and or carpeting can help. That is one more reason to work with a real estate professional who can give you the benefit of experience from dealing with multiple homes, buyers and sellers. Have a look at today's arcticle info-graphic

Single and Looking for an Investment Home?

Are you single and considering a home for investment? Buying a new home can be a great long term improvement in your net worth, but it comes with a lot of things to consider. If you are a first time homebuyer that is ready to make this commitment, then I’ve got some great tips for you.

What is Your Goal in Purchasing a Home?

Any time that you look at making an investment in property, you need to identify what your main objective is. Determine what type of investment you are looking to make. Decide if this is going to be a home you plan to stay in, or one you will fix up and flip or one you will rent out.

Choose the Right House

The size and layout of your home should be a huge consideration. You do not want to purchase a home that you will quickly outgrow. Are you looking for a place where you can grow a family? A huge party house? A simple dwelling where you can chill after a hard day?

Location, Location, Location!

If you think that location doesn’t matter, you might want to re-think that. Understand that when you make your purchase, you might have to sell one day. Look at the location of the house from a re-sale value position. If you are in area where homes do not sell quickly, it will be more difficult to sell later on.

Think the Unthinkable

Before making a huge purchase, you will want to run through the list of “what if” scenarios. If you have an accident or get laid off from work, you will need to figure out how to make the payments on your new home. That is why it is best to have 3-6 months or more of emergency funds set aside.

When you get these questions answered, it is time to move forward on home buying. It can be one of the best decisions you make in your life. Work with a real estate professional for the best outcome! For homes in San Antonio, TX – or if you need a referral to a real estate professional anywhere in the country – check us out at

Housing 2017

Will Housing Affordability Be a Challenge in 2017? There are some who feel the market may suffer because of rising prices and rising rates. But I think there are more folks optimistic about 2017. In the attached report, experts take a look at the index and historical comparisons. Of course interest rates are expected to rise as are prices. But, there are reasons I think the market is still in recovery mode - and will stay that way in 2017. See what you think after reading today's article.

Millennials - are you ready to take the lead?

What Would a Millennial Baby Boom Mean for Housing? It would be a boon to the economic engine and a recovery for our Great Nation. Right now - "Two-thirds of Millennials have not yet reached the average first-time home buying age of 32, as reported by the National Association of Realtor. The homeownership rate amongst Millennials has nowhere to go but up!" The time for your generation is here - time to be that "first time home owner". And, we are ready to help you. Checkout today's article

Real Estate Reality TV

5 Myths About Real Estate Reality TV Explained. The "reality" is most often these 5 myths are not myths at all. Today's real estate shopper is savvy and informed. But, television is what it is and the adventures are entertaining. If you are an experienced buyer, you probably have this pretty much down. If you are a beginning - first timer - new to home ownership, then best to talk through these items with a real estate professional. You won't regret it. Have a look at today's article

The FIRST Step

Pre-Approval Should Be Your First Step. Knowing what you can afford saves time and avoids disappointment. It also gives you the opportunity to work with your mortgage loan officer to find out what you might need to do to increase the amount you qualify for and to clean up any "surprises" that can sneak into a credit report. It is all about strategy. Working with a licensed real estate professional will help you get the home that you want. Checkout today's article
Prices Rose 7.1% Year-Over-Year [INFOGRAPHIC] - 49 out of 50 states, and the District of Columbia, all had positive appreciation over the last 12 months, with the only exception being the state of Connecticut, which experienced a -0.5% appreciation. Well, if you are already a home owner, that is good news! If not, it means the cost of getting into a home increased and will continue to rise as interest rates move up. The answer - but now or certainly as soon as is possible. If you need help with that, call me. Today's article

Your Dream Home?

Is This the Year to Move Up to Your Dream Home? If So, Do it Early. It looks like 2017 should be a great year for real estate and that means higher prices! We are early in the year and the market has not taken off yet - but when it does...... Are you prepared? Have you talked with a real estate professional> Have you gotten pre-approved? We can help you with all those things - even outside San Antonio through our network of connections. So don't hesitate - there is no cost to you. We asked "will it be your year" on our Facebook page, so today - we are going to share two pictures with this post. I hope it is YOUR YEAR! Meanwhile, checkout today's article

Over 75 million baby boomers in the USA!

Top 3 Things Second-Wave Baby Boomers Look for in a Home. Location, price and layout - plus, this is the 21st century and technology is fast becoming a major consideration! It would be nice to get some followers feedback here. If you do participate, please share if you are a boomer or what generation you fall into. And, then list what matters most to you when you are considering a new home. Meanwhile, checkout today's article

FHA Reduces Premium

By Eric Steitz (Guest Poster)

Housing and Urban Development Secretary (and former Mayor of San Antonio) Julian Castro announced Jan. 9 that FHA was reducing their monthly mortgage insurance premium (MIP) by 25 basis points. This policy change is effective for any FHA loan closed on or after January 27, 2017 and is a welcomed money-saving change for home buyers.

So what exactly is a 25 basis-point reduction and how does it affect potential buyers? The current monthly MIP on FHA loans is 85 basis points (or .85%). Starting January 27, the monthly MIP drops to 60 basis points (or .60%).

In terms of monthly payments, the savings adds up. Using a scenario of a 4.5% interest rate and $150,000 base loan amount, the payment breaks down below:

Principal and Interest........... Previously $773.33 *** Reduced to $773.33
Monthly MIP....................... Previously $105.47 *** Reduced to $74.45
Total Payment (excl Tx/Ins).... Previously $878.80 *** Reduced to $847.78

While the savings is just $30 per month, that adds up over the course of the 30-year loan term. After one year, the savings is $360. After 30 years, it boosts up to $10,800!

For buyers, it’s a small change every month that can make a big difference over time. Please consider this scenario does not include property taxes and homeowner’s insurance, which increase the monthly mortgage payment. Also note that the interest rate shown is an estimate and does not necessarily reflect current rate pricing. Please contact me for an accurate rate quote and to see how you can become a home owner in 2017.

Eric Steitz, Mortgage Consultant (210) 910-5260
NMLS 920858 | TX-920858 | CO-100503394

Need a Professional?

You Need a Professional on Your Team When Buying a Home. Are you comfortable negotiating? Do you know the law and implications of your real estate decisions? Are you knowledgeable about the housing market in your area? Really accurate and up-to-date? Do you know all the forms that are required for a real estate transaction. Do you know about inspections. Have you had experience going through title and escrow? What if the other side does not act or proceed? OK, got that down - then there are about 87 more things to consider. Even professionals are required to earn CEUs and qualify with additional hours regularly. Checkout today's article

Check the Price

If Your Home Hasn’t Sold Yet… Check the Price! Of course we all want the most money possible when we sell our home. But there is competition and a market that drive price. Price too high and wait - if you sell at all. Price too low and you lose money. The best route is to hire a professional who knows the market and is best equipped to guide you. Beware of those who will go along with any price you set! Once you have decided time to sell, ask what the market is doing and what you can expect. When a home is over priced, besides sitting on the market too long and buyers becoming skeptical, there is a cost - to you! Thin about your monthly mortgage payment (if you have one) and all other expenses like real estate tax, utilities, etc. The sooner sold - the sooner they go away or change. Have a look at today's article

MAKE your dream come true

3 Tips for Making Your Dream of Buying a Home Come True [INFOGRAPHIC]. Want that house? Especially the first house! It takes planning and above all sacrifice. But the success of getting there is a huge step in increasing wealth. It is just worth it. Plain and simple - worth it. Will you make this year your year? Read more

Millionaire to Millennials: Buy a Home!!

Last week, CNBC ran an article quoting self-made millionaire David Bach explaining that not purchasing a home is "the single biggest mistake millennials are making" because buying real estate is "an escalator to wealth.” Bach went on to explain: "If millennials don't buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter." I cannot add any more to that - it is what it is. Do not hesitate to ask me if you can buy a home. Let's see what we can do. More in today's article

Sales Increases Reach Double Digit

Year-Over-Year Sales Increases Reach Double Digits in 5 Price Categories. Time for that reminder again - real estate is local. Be sure to chat with your favorite local REALTOR about the market you live in or plan to buy in. If you need help finding a licensed professional, you can always contact me for a name or two. Meanwhile, the news is good - checkout today's article

About that inventory - Again!

Inadequate Inventory Driving Prices Up. Right out of the box in 2017 that situation remains a fact of life. Unless homeowners decide to go to market and list their homes for sale or builders can figure out a way to build new homes faster we are stuck with that. There is a back up of buyers out there and just not enough homes to satisfy that demand. Having said that, prices going up and interest rates going up means less house for the same dollar. A good time to move forward - on your first home or your new home! Read more

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