Plumbing inspection in San Antonio
Plumbing inspection in San Antonio is a step many home buyers may skip for all the wrong reasons. Here in San Antonio we have have a lot of shifting foundations and repairs. Often the repairs end up being the most damaging forces on our plumbing systems. Leaks can occur and without a plumbing test right after the foundation repair they may go undetected until serious damage has occured. Home owners having a foundation repair should have a plumbling inspection immediatly to see if any breaks have occured in the system. Buyers should ask if there was a plumbing inspection in the event of any noted foundation repairs. Plumbing inspections run from $200 and up. If you think that’s expensive call a plumber and ask them how much it will cost to fix a broken pipe under the slab. You will be glad to pay for the inspection.
How to add curb appeal
How to add curb appeal to a home should be on the top of the list for home owners each year. Why each year? Well not everyone can afford to make a drastic change all at one time so developing a master plan for how you want the home to look is important so you can find deals on materials to make improvements along the way. Of course if you have to sell right away, a drastic face lift may be the only solution to ensuring your house sells the first time you put it on the market. A home without curb appeal is begging for low ball offers if any at all. Let’s face it, It’s a tough market out there right now and standing out from the rest of the home listings is the only way to get the job done. I have found that many of the projects needed for curb appeal can be very rewarding to do on my own. If you’re a do it your self kind of person you can find a lot of great ideas in the video’s from Lowes. I’ve included one below so you can see the potential changes your home might benifit from.
Mortgage loan process
The Mortgage loan process is the most import part of buying a home. It is also one of the most neglected parts of buying a home on the part of the home buyer. Consideration for what it really takes to buy a home and who will assist the home buyer should be the first two questions a buyer should ask themselves. To eliminate and/or reduce pain in this process, finding a short list of lenders along with an agent should be tackled first. Consult your buyers agent for options to be considered. In most cases the agent will have a list of qualified lenders to interview. My list includes lenders that are local with processing and underwriting handled in house. This cuts down on any potential lost time buyers may face with a large bank that has undewriting on the west coast and processing on the east coast. I have included a link to a video from “Two Mortgage Guys” below. I don’t use them but they have some great videos for consumers to watch that can help make more sense out of the process.
New homes construction process
New homes construction process only sounds like a hard job. Remember if you’re not actually the one that has to do all the work it can really be a lot of fun to watch. From creating photo albums of the home as it is assembled to picking all the options that go in to the home, the new home building process can be a very rewarding one. In addition to getting the home exaclty the buyer wants it, delivery of the home can be timed up to fall in line with the end of any current leases. Below I have included a great series of videos from Bill Black. Of course we do not have basements in San Antonio new homes but the process is close.
New DR Horton Homes
New DR Horton homes are great buys here in San Antonio. I have sold several new DR Horton homes over the past couple of years and my buyers have been very pleased. Some of the free upgrades included blinds, radiant barrier, refrigerator, upgraded carpet, full sod front and back and all closing cost paid. Not every single DR Horton home got everything listed above. But right now I wouldn’t be shocked to see the Dr Horton do all of it at this time. If you have ever negotiated a new home deal then you know it’s best to get the pre negotiations out of the way before you show up at the builder. This will ensure that the sales person doesn’t hold anything back in negotiations. After all it’s nice to know exactly what you can get before visiting and getting taken in by the model homes. I found a nice video to share with you below of a DR Horton home up in Austin. If you’re interested in a San Antonio DR Horton home let me know and be sure to check out my first month free incentive here.
Buying a new home
Buying a new home is a great option for the buyers here in San Antonio. With so many different price ranges and areas to choose from new home buyers in San Antonio can find an energy efficient new home that fits their payment goals. In todays economy many people are fixaded on getting “A great deal” on foreclosed homes. And while they may get a great deal, the work it takes is not always with in the abilities of the home owner. Today even a new home buyer can get great deals on to be built homes. Buyers that plan on owning a home in 5 months or more can shop for a home now, put down as little as $500, start building and move in later. Builders are now paying up the max in closing cost allowed along with thousands of dollars in free upgrades. With these incentives buying a new home is looking a lot better. Before you go looking at new homes check out my first month free offer here.
What is a short sale
What is a short sale is a question sellers ask me time and time again. Many home owners today are getting foreclosed on without ever giving them selves a chance at selling their home through the short sale process. The biggest problem seems to be people ignore the notices coming from the bank and act to late in the foreclosure process to give a short sale a chance. If you are falling behind on your mortgage payments, lost your job, have a divorce or have any combination of these issues short sale could be the answer for you. I found a great video on short sales I want to share by Re max. Watch it and if you live in San Antonio call me.
Krishna Perkins, ABR, SFR
How to short sale
How to short sale is burning question for many home owners in this market. Many owners realize that just letting go of a home is an even bigger disaster for them. I will give you a couple of quick tips to navigate through a successful short sale. First if you are a home owner who has simply lost value in your home and not had a life changing event that has hampered your ability to keep up with your mortgage i.e.. job loss, reduced pay, loss of a spouse, etc. A short sale may not be an option for you. Call a certified short sale agent to discuss further.
Step one- Collect all notices from your bank
Step two- Collect all financial documents; pay check stubs, bank statements, wills, tax returns
Step three- Prepare a letter of explanation to your mortgage lender stating the reason you are behind and need a short sale.
Step four- Contact a licensed Realtor that has short sale training. Don’t worry you wont have to pay them for their services. The bank will cover the commission earned in the short sale.
Remember for a successful short sale to happen you have to have your documents ready to go. A short sale can be a long process but in the end can save you from years in damage to your credit. Agents with training in short sales can be identified with the SFR designation after their names. This stands for Short Sale and Foreclosure Resource.
Krishna Perkins, ABR, SFR
www.sahomelocator.com
How to buy foreclosures
How to buy foreclosures is at the question at the top of the list for many home buyers these days. Here I will outline a few short points for you to follow in your search for buying foreclosures. In most of these cases you need to find an agent that specializes in foreclosures to have the best results. Going directly to the bank is a waist of time. You will be directed to find an agent. Beware of any list that are sold describing foreclosure details. Many of these listings are premature and can put you in an a unsavory situation if you go knocking on any doors and find the home owner still there.
Tax lien foreclosures can be purchased with cash at the court house steps. You must have a cashiers check to purchase a home that same day if you want to buy a home for cash (NO LOANS). Check with your local court house for procedures. Some Realtors may offer help for a fee in doing this. Be sure you know what you’re doing there could be additional taxes owed, condemnation of the property, additional liens and more.
HUD home foreclosures must be purchased through an agent/broker. You can search for HUD foreclosures at Bid select.com but you must have an agent/broker submit the bid for you.
Fannie Mae home foreclosures will be listed with a local broker in the area you are shopping. Any buyers agent with mls access can show you the home and submit Fannie Mae bids for you.
Bank Repo homes. This includes all banks, Bank of America, Wells Fargo, Chase etc. These listings will also be with a broker/agent.
Buying a foreclosures can be a complicated task. If you are serious about buying a foreclosed home do your home work on getting signed up with an agent that is trained in foreclosure sales. SFR stands for Short Sale and Foreclosure Resource. This means the agent has advanced training in dealing with foreclosures and short sales. Chances are even if you do not ultimately end up buying a foreclosure you will have an agent with experience.
Good Luck!
Krishna Perkins, ABR, SFR, New Home Certified
Covenant Partners
http://www.sahomelocator.com
Buying foreclosures
Buying foreclosures is a hot topic for first time buyers. Here in San Antonio the first most asked question I get from first time buyers is “What kind of deal can I get on a foreclosure?” The second most asked question is “If I get an inspection can I negotiate a lower price for repairs?”
To answer the first question. Right now the average sales price to list price ratio is 97.1% for foreclosures sold in the last two months as of today July 23rd. This means foreclosed homes are selling on average for 2.9% less than current list price. In some cases the sales price is much lower than list price in others the sales price actually higher than the list price. HUD foreclosures are currently running a special first time buyer program that allows buyers to purchase a home with as little as $100 down payment. The buyer still has closing cost but this program has been such a success that buyers are finding themselves in competition with multiple offer situations. Buyers can also ask for up to 3% closing cost for HUD homes. The biggest twist this prgram brings to the market is that the buyers must offer a full price offer to get the $100 down program. With that in mind I think the foreclosure market is a great place to start looking for deals that might fit buyer needs here in San Antonio.
In reguards to repairs or reduction in price. Don’t hold your breath. Be prepared to pay for all repairs out of your own pocket. In some cases buyers can find a Fanne Mae home that offers a rehab loan or a HUD that has a repair escrow already attached to the listing for a specific repair HUD has identified as a must fix.
Covenant Partners
http://www.sahomelocator.com
