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How to Buy Your Home in College Station, TX Without Overpaying

Buying a home is hands down the biggest financial investment that you will ever make – it may even be the biggest financial risk that you take. It’s important for first time homebuyers as well as seasoned investors to be diligent throughout the entire process of buying a new property to make sure that they are paying a fair price, or that they are knowingly overpaying and ok with it. When a buyer is emotionally invested in a property, they are more likely to pay more than the home is worth because they are willing to do whatever it takes to secure the home as their own. Any buyer is capable of making a mistake during the home buying process, but this mistake can end up costing a lot of money. In this blog post we’re going to go over some of the more common ways that end up causing buyers to pay too much for a home as well as how to buy your home in College Station, TX without overpaying. 

Common Buyer Mistakes

When you choose to buy a home, whether it’s for personal use or an investment, it’s important to negotiate a good and fair price. This will help you escape buyer’s remorse and also set you up for success if you choose to sell the property in a few years’ time. Here are some of the more common mistakes that buyers make:

  • Attending Too Many Open Houses

There is something about the frenzy of going to an open house that brings out a competitive nature in all of us, which makes it easy to end up overpaying and getting emotionally invested in a house. Instead of going to multiple open houses we encourage you to explore available properties online and schedule private showings for the ones that you are really interested in. 

  • Emotional Shopping

One of the more expensive mistakes a buyer can make is letting a seller know how much you love their home. Once you have expressed how you feel it can make it difficult to negotiate the price down because the seller knows how motivated you are. No matter how wonderful a home is and how you excited you are about it, keep it to yourself. 

  • Skipping Inspections

Even brand-new homes will sometimes have issues that need to be fixed, which is why it’s so important to schedule proper inspections. Unless you are buying a home “as-is” there is no reason to skip an inspection. You may think you’re getting a great deal on a perfect home only to find out later that it needs expensive and extensive work. 

  • Taking Their Time to Make a Decision

Good properties sell fast, so once you’ve made up your mind about a specific property let your realtor know ASAP and be prepared to move quickly. If you find the perfect home today but don’t submit an offer until tomorrow, you may already be too late. 

  • Feeling Pressured to Make a Decision

On the other hand, even though it’s important to move quickly, if you have decided that this home is the one, if something does not feel right don’t feel pressured to make a quick deal. Don’t be afraid to ask questions and to negotiate – the goal is to get the best property for a fair price. The best way to get a good deal is to be prepared for some serious negotiations and to trust your agent to do it for you. 

  • Bidding Wars

Bidding wars are common in seller’s markets when there is more demand than there is inventory. Sometimes, a seller’s real estate agent will try to scare hesitant buyers into a deal by threatening to pass off the home to another potential buyer. In bidding wars no one wins, because whoever ends up buying the home also ends up overpaying. 

  • Forgetting About Hidden Costs

Remember that there is more to your new home than the initial price tag – there are closing costs, mortgage insurance, appraisal fees, inspection fees, taxes, title insurance and so much more. All of these additional fees add up to the total amount that will be coming out of your pocket, so be diligent to escape expensive surprises. 

How to Buy a Home Without Overpaying in College Station, TX

If you have found your dream home and you can afford it, you may not care if it’s overpriced. On the other hand – no one likes the feeling of buyer’s remorse, especially in big transactions like buying a home. The best way to avoid buyer’s remorse is to avoid overpaying – below we have listed a few tips to help you avoid overpaying on a home in College Station, TX.

  • Work with an Agent

Working with an experienced real estate professional offers numerous benefits – one of which is that they will guide you through the sales process and help you avoid overpaying for a property. A real estate agent can help you find a property, negotiate with the seller’s agent on your behalf, draft up documents and run the transaction from start to finish so that you don’t have to worry about missing a signature or a deadline. When it comes to big decisions like buying a home, sometimes it’s best to leave it to the professionals who have your best interest at heart. 

  • Dig Deep into the Comps

Comps are very important in real estate – this is a report put together by your real estate agent showing other homes in the area that have sold recently. Comps are comprised of properties that are similar in size and floor plan, bedroom and bathroom combination, lot size and upgrades. A comp report is a powerful tool that will give you an idea of what a fair price looks like for a house in the neighborhood you are interested in. 

  • Demand an Appraisal

Most transactions will always include an appraisal contingency – this is an important part of the sales process that is usually required by lenders and completed by a qualified appraiser to ensure that the property is worth the price you are agreeing to pay for it. If the appraisal shows a number below the sale price, then you may reconsider your purchase because it will make it harder to get loan approval and you will have to come up with a bigger down payment. 

  • Interview Different Lenders

You interview different real estate professionals before you choose who to work with and you should do the same with mortgage lenders. This is also a place where you can cut down the amount you pay for the house over the life of a loan, so it’s important to compare rates and closing costs between at least two different lenders. 

  • Be Realistic

Overpaying does not mean that you should expect to always strike an amazing deal on a home. There are definitely incredible opportunities in real estate where you can purchase a property below market value, but that does not mean that a home sold at a fair price is a bad deal. A fair price is what you are comfortable paying for a home that you love that is also properly valued in comparison to other homes in the area. If a home is priced right it will sell quickly, and if you can get it for the sales price without entering into a bidding war then you are paying a fair price. 

  • Shop Off Season

Spring tends to be the hottest seasons in real estate. If you are looking to avoid bidding wars and overpriced homes, we suggest waiting until the spring buying season dies down or holding off until the winter months when you are more likely to run into highly motivated sellers who price their homes to sell quickly.

Today’s world and real estate market is fast paced and ruthless, which means that you can’t afford to learn your lessons through trial and error. We hope that the information we have shared in this blog post has been educational and helpful and that it will help you be a savvy buyer. Our team at Brazos County Realty has helped countless buyers find their dream homes while saving them money at the same time. We have also worked with numerous sellers and guided them through the sometimes-daunting process of selling their property for a fair price.

Buying a house is the biggest financial transaction most of us will ever make, and no matter what the price is, paying too much for a home is never a good deal. Being armed with information and working with an experienced realtor whose main goal is to look out for you is the best way to protect yourself from overpaying for a home. Please feel free to contact us if you have any questions about real estate in Bryan College Station or if we can be of any assistance for your real estate needs. We look forward to speaking with you and working with you soon. 

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Happy Holidays from Brazos County Realty & Upcoming Holiday events in Bryan/College Station, Texas for 2020

December 2020 Myke Leatham and everyone at Brazos County Realty would like to wish everyone a “Happy Holidays!” and hope to be of service to you in 2021!

 

 

 

Christmas in the ParkChristmas 2020

December 4 & 5, 2020 from 6 to 10 pm

Drive through Stephen C. Beachy Central Park Dec. 4 and 5 from 6-10 p.m. to enjoy more than one million lights, wave to Santa, drop off a wish list in the North Pole mailbox, grab an arts and crafts bag, get cookies and hot cocoa mix., adopt a Holiday Parks Pal, and view a traditional living nativity scene. more…

Admission is FREE!

Vehicles should enter from Krenek Tap Road and exit by taking a right onto Highway 6 Frontage Road. Recreation Drive will be closed from 3-11 p.m. on event days, and parking will not be allowed in the park.

 

Christmas 2020December First Friday

Friday, December 4, 2020, at 5 pm

First Friday happens all day long, and it gets a lot merrier every December!

It’s the perfect time to cross some gifts off those holiday shopping lists, so come visit your favorite shops!
Gift cards make great gifts too, and restaurants throughout Downtown Bryan will be open late!

For more information visit the Downtown Bryan website.

 

Christmas Classics At The MuseumChristmas 2020

December 4, 2020, 7-9 pm

Join the Museum of the American G.I. this December for Christmas Classics at the Museum! Watch vintage Christmas movies while enjoying the museum’s collections. Enjoy Christmas classics on Friday, Dec 4, 11 & 18 from 7 – 9 PM and Children’s classics on Sunday, Dec 8, 15 &22 from 2-4 pm. Bring a mask and popcorn while we enjoy a movie 6 feet together this holiday season!
Schedule for Christmas Classics:
Dec. 4th: It’s a Wonderful Life (1946)
See the full schedule of movies

 

 

 

Jingle on the Green

Sunday, December 6, 2020, 3-6 pm

Kick-off the holidays at Century Square on Sunday, December 6 from 3:00 – 6:00 PM with Jingle on The Green. Come out for free photos with Santa, Christmas music, special booths and activities from the Century Square restaurants, hot chocolate station, and holiday promotions!

Please bookmark this page and check back!  We will update the blog as we find more 2020 Holiday Events for the Brazos Valley to share with you!

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Filed Under: Blog, Bryan Community, Christmas, College Station Community, Community Calendar, Holiday Events, Things to do in Brazos County, Things to do in Brazos Valley, Things to do in Bryan, Things to do in College Station, TX Tagged With: Bryan, Christmas, College Station, Holiday Events, Things to Do

The Pros and Cons of Renting

To rent or to buy, that is the question. We all need to have a roof over our heads and a safe space to call home, but home can mean many different things – it can be a townhome, a condominium, an apartment or a single-family residence. All of these different types of properties can be rented or owned and there are various pros and cons to consider for both options. There’s no clear answer to whether renting or owning a property is a better option, and that’s because the best choice is the one that fits your current needs and lifestyle best. For example, a young college student with a busy schedule of schoolwork, extracurricular activities and a part-time job doesn’t have the time or mindshare to worry about being a homeowner, which means that renting an apartment alone or a house with roommates is a better option. On the other hand, a family of four with solid and reliable income might choose to buy and own a home instead of renting. While there are various pros and cons of renting and owning it ultimately comes down to your personal needs, your goals and your financial situation. 

In this post we’re going to explore and take a deep dive into the pros and cons of renting – our goal is to provide current and relevant information and education so that you can make an informed decision for your unique situation. If you need additional guidance and support or you have questions about renting or buying a home in College Station, we strongly encourage you to contact us so we can discuss your needs and help you. 

The Pros of Renting

The “American Dream” dictates that homeownership is the ultimate goal – and while being a homeowner is something that most people strive for, it may not be the best option for everyone. If you are someone who enjoys traveling a lot, moves around for work or you simply can’t stay in one place for too long then owning a property is not right for you. In general, renting is ideal for people who are in need of a short-term home. If you are planning on staying in one place for less than five years, then renting is the way to go. Check out some of the top benefits and pros of renting versus owning a home.

  • Flexibility & Freedom

When you are renting a home, apartment or condo then you can easily pick up and move whenever you want to. Even though you will have a lease in place, if you want to break it early there are ways to lessen the penalties and work your way out of it if you wanted to. Breaking a lease early is significantly easier than going through the process of selling your home. Most lease agreements are put in place for 12 months and after that you could negotiate to sign a six-month lease, or even go month-to-month – this is something you will have to work out with your landlord or the property management company the landlord works with.

  • Low Maintenance & Little Responsibility

When you rent a property, you are responsible for keeping it clean and damage-free, which would be the same as owning your own home. The difference is that if something major breaks and needs to be fixed – like the roof, HVAC system, plumbing issues, etc. – these are the responsibility of the landlord or property management company. As a renter all you have to do if you are experiencing issues with your property, no matter what the problem is, is to contact your landlord and ask them to fix it. 

  • The Ability to Save Money 

One of the major pros of renting versus buying is that you know exactly how much you will need to pay every month. You are not responsible for maintenance costs like a gardener or pool cleaning service, no additional taxes or fees, certain utilities may be included in your rent and there are no surprise costs. Additionally, rent is significantly lower than a mortgage and you are not responsible for homeowner’s insurance or property taxes. All of this means that you can budget and save your money so that when you are ready to buy a home you will be mentally and financially prepared. 

The Cons of Renting

As you can see, renting provides a lot of freedom – freedom to move and the opportunity to save your money. While this set up might be ideal for many people, it’s also not the best option for everyone. Let’s take a look at what some of the downsides to renting are.

  • You Don’t Build Equity

When you buy a property you immediately begin building equity and your money is being invested in a way that will hopefully bring you a decent return in the future if you choose to sell it. And if you don’t ever sell then you will have the benefit of owning a home and not carry any debt, or if you find yourself in need of a loan you can borrow from your home. The monthly payments you make towards your home are not an expense, but rather you are paying down the debt you owe on your loan. 

  • No Customization & Personalization

Most landlords will not give you the option to paint the walls, change the flooring or otherwise alter the rental property in any way apart from hanging pictures and art on the walls. The only way you might be able to personalize a rental is if you ask for permission from the landlord and agree to restore it back to what it looked like before you made any changes before you move out. When you own a property, you have the freedom to design it as you wish and also alter the design, color and lay out as often as you want to. Although renovations can get expensive, if you do it right then you will be adding value to and investing in your home.

  • No Tax Benefits

As a homeowner you get to take advantage of certain tax deductions that can give you a decent break and even a return. As a renter you don’t have the opportunity to claim these deductions. 

  • Bad Landlords

The good thing about renting a property is that you can turn over any major issues and complaints to the landlord and they will have to fix it or deal with it one way or another. On the other hand, the world is full of bad landlords and your health, safety and happiness as a tenant can be very dependent on this individual. Some landlords may not respond to your concerns or take too long to fix issues or manage repairs. If you feel that your landlord is taking advantage or not meeting expectations make sure to look into what your rights are as a renter and tenant. 

  • Various Restrictions

When you live in a rental – whether it’s a house or an apartment – you have the follow the rules of the landlord or those set forth by building management. These may include noise restrictions, a limit on guests, no pets or other rules that you have to agree to. 

  • Payments Never End

We mentioned that as a renter you don’t build any equity, but the other thing you have to remember is that your rent payments will never stop. Even though 30 years is a very long time to pay off a mortgage, if you stay consistent you will eventually pay off your home and no longer have to make those payments. As a renter you won’t get relief from monthly payments – even when you retire you will have to keep paying your landlord for as long as you occupy the space. Additionally, your rent can and most likely will rise year after year. 

There are various pros and cons to being a homeowner as well, but whether you choose to rent or buy a property simply depends on your unique financial situation and your lifestyle. We encourage you to take a look at the current available rental properties on our website or if you can’t find something that catches your eye then please contact us so we can help you find the perfect rental to fit your needs. Our team has more than 25 years of experience in the real estate industry and we’ve assisted clients ranging from first time home buyers, veteran sellers as well as experienced investors. If owning a home is not something that is right for you, but you’re interested in learning how to invest in real estate we can help you out and get you set up for success as an investor. We look forward to hearing from you, answering your questions and earning your business. 

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Covid Energy Saving tips

During the COVID-19 pandemic, we’ve been spending a lot more time cooped up inside. This has resulted in higher spending on gas and electricity, particularly during the height of lockdown.

With small pockets across the country being asked to return to their homes again, now is as good a time as any to begin prepping for any future quarantine periods. Check out our useful COVID-specific energy-saving advice to learn how to keep your bills down.

Let’s all do our part to help our neighbors and our communities.     There’s so much we can do.  Let’s start at home.  Look around and see how we can save money by conserving energy.  When you’re ready, ‘Let Myke Help You With Your HOMEwork!  Brazos County Realty is in the same place located at  13464 I and Gn Rd, College Station, TX  77845.  Our website is www.CollegeStationHomes.com or www.AggieRealEstate.com  We’ve been helping people come and go from the Brazos and surrounding counties and invest for their future for 24 years now, and we’re pretty good at it!  We sincerely thank you for letting us be a part of your lives and we wish y’all the best through these trying times.   Here’s some information to help you save some money at home.  Call anytime if you need me.

Myke Leatham

979-693-0201
Broker/Owner

1. Use a smart power strip

Did you know, the average household is said to waste as many as 7,374 hours of electricity every year when a device is left on standby?

Stuck at home, we’re bound to be using our electronic devices more often. Whether that’s while you work, or just because you’re binging the latest Netflix hit. It’s natural to leave the likes of laptops, phones, televisions, routers and even printers turned on in the background.  An A&M engineer once said that appliances plugged into the wall still suck energy even when not in use, so ‘Unplug It’ According to my experience, most electrical devices use electricity even if they are switched off – also known as “phantom” load. If you’re not going to unplug the toaster and blender for example, instead, use a Single Port Adapter for the Outlet with an On/Off Switch.

A smart power strip is the perfect way to combat these lost minutes. This device lets you choose what you want to keep on or turn off at any given time. That means you can easily prioritise what you do and don’t want to keep running.

2. Try to structure your day

Setting a schedule for your day may not feel like it will have much of an impact on your energy consumption, but you might be surprised. It’s easy to work longer hours than normal when working from home. Setting a time when you turn all your devices off won’t just be good for your work-life balance, but will help you cut down on energy too.

If you’re struggling to work out how you can manage your own time, consider:

  • Setting up a separate workspace that’s away from everything else in your house
  • Creating a specific hour-by-hour routine, giving you time without devices
  • Making your schedule clear to the rest of your household, so they know not to disturb you at certain times
Thermostat

3. Set streaming guidelines

Streaming is a great way to wind down, but it can be easy to lose track of time. This won’t only affect your energy bills, but can also make your internet slower – not exactly what you need when you’re trying to chat to work colleagues.

This is especially difficult if you’re part of a larger household. Setting a few rules is a great way to keep on top of your screen-time, while lowering costs.

Looking for more tips to slash your energy use on streaming? Here some other ways you could cut back costs:

  • Use low-powered devices. Instead of streaming a show on your television, consider watching it on a more energy efficient device like a laptop or tablet.
  • Change screen settings. You can turn down the brightness and volume of your device to save on power. Streaming at a lower resolution will also help, though this may affect your viewing experience.

4. Be smart with your radiators

As the weather gets cooler, you might be tempted to keep your heating running through the day. However, this could make a huge difference to your energy usage.

If you’re feeling the chill, why not try heating only the rooms being worked in? Simply turn the off the valves on all the radiators in unused rooms. That way, you can beat the chill with minimum impact to your bills.

5. Try to make the most of natural light

If you’re spending more time working from home, it’s likely you’ll have the lights switched on more than usual. But you don’t always need electricity to get the best lighting.

Make the most of natural light in your home by setting up your office in the room that gets the most daylight. Open the blinds and curtains and let the sunshine in. You’d be surprised how quickly your eyes can adjust to natural light, even if it seems a bit dim at first.

Also be sure to turn off the lights in any rooms which you aren’t using. Daylight is free, after all.

Consider adding a solar tube

Sun tubes bring natural light into your home in ways artificial light sources cannot and can be added anywhere there is 6 meters or less between your ceiling and your roof.
As the seasons change, the tube captures daylight and efficiently illuminates indoor spaces.  Solar tubes are amazing in underlit spaces and especially  interior rooms without windows.   there are a lot of different solar tube companies out there and they are relatively easy to install.   (One of the best investments I’ve made…love mine. ‘Myke’)

6. Swap to energy-saving bulbs

If you do have to turn the lights on, particularly after the clocks go back, make sure you’re using energy-saving bulbs. Both Compact Fluorescent Lamps (CFLs) and Light Emitting Diodes (LEDs) are more efficient than halogen lights with LEDs being the most efficient of all. Replacing a halogen light bulb with an LED of the same brightness could save you up to $1.25/month per bulb, depending on your utility company.  Count the bulbs in your house.   That really adds up over time.

You may not want to replace all your bulbs at the same time, particularly as they now last so much longer. So why not swap the bulbs in the rooms that you spend the most time in first – whether that’s because you’re working from home or because you’re not out and about so much in the evenings – and replace the others as they wear out.

And remember, just flicking off the light switch every time you leave a room is an easy money saver.

7. Use timers and dimmers

Using timer and dimmer devices will have a positive effect not only during lockdown, but once the pandemic is over. You can set these devices to sync up with your lights and other electronics, allowing them to turn off automatically.

8. Use a laptop at home

Working from home has become the norm for a lot of people during lockdown. If this is you, you’re probably using either a laptop or desktop during that time – though you should know, one is a lot more efficient than the other.

Your laptop will use just 75 kWh per year, while a desktop can eat up as much as 194 kWh. What’s more, using a laptop will also give you the freedom to work wherever you want in the house.

But while you’re spending even more time at home it’s important not to forget the simple basics.

Basic energy-saving tips

Simple fixes to your daily habits can have a huge impact on the amount you save on energy every year, even once the pandemic is over. Keep reading to discover some easy changes you can make to save on your next bill.

1. Don’t boil water in a pan

It might seem logical to boil water in the same pan you’re going to use for cooking. And while it might feel like you’re being cost-effective, the opposite is actually true. The average kettle is about 80% efficient, while boiling water on the stovetop is only 70%. Plus, the kettle is also a much quicker way to get your water bubbling.  How many times have you boiled water in a pot, then walked away and layed down to take a nap and forgotten about it? By the time you remember it’s because the smoke detector has gone off and if you don’t catch it, you could burn the house down!  It’s not just a waste of energy, it’s dangerous.  The  smell seams to stay in the walls for ever!  Use a kettle that whistles when it comes to a boil to avoid mistakes like that.

2. Opt for a shower, not a bath

According to the Energy Saving Trust, if everyone in a family of four swapped one bath a week for a five-minute shower, it could save up to $24 a year on their gas bill. Consider changing your shower head to an eco-version, too. If you do, a family of four can save around $99.00 a year on gas (and $152 on water if they have a meter).

3. Wash everything at 150 Degrees

Today’s washing detergents are very effective at 30 degrees, so try to avoid washing laundry on a higher setting. Wait until you have a full load too – that saves on water as well as energy. Just make sure you aren’t going to have any colours which run or fabrics which get damaged. Use an eco-wash setting if you can, as this will save on your bills in the long term. If someone in your home has contracted coronavirus you may want to wash their towels, bedlinen and so on separately from the rest of your washing, at 60 degrees. You should also avoid shaking these clothes before you put them in the machine.

4. Use a line to dry

This isn’t something you see that often anymore. It goes without saying that using the natural power of the elements will have a big impact on cutting costs. Tumble dryers use up a lot of energy, so try to avoid them as much as you can.  Did you know that your clothes will last longer and hold their shape better if you hang them to dry instead of throwing them in the dryer?  It’s true.  Everytime you pull lint out of the dryer, that’s your clothes wearing out!  Your clothes won’t ball up if you hang them up to dry.  When you pay a lot of money for a garment…if you must…let it spin in the dryer first than hang damp, but hang it up to dry. Drip dry is the best in the shower.

5. Take control of your heating

The Energy Saving Trust suggests that turning down your thermostat by just one degree could save around $75 per year. Why not give it a go and see how much you save?

Also, check whether heat could be leaving your home through gaps. Thick curtains, draught excluders, and even a piece of putty in a small gap around a window will help keep the heat in. And it goes without saying – don’t leave windows and doors open if it’s not warmer outside than in.  If you can see daylight anywhere around any of your doors, you’re paying too much on your utilities!  You’re losing heat in the winter and air conditioning in the summer.  You need a little self adhesive weather stripping.  Don’t procrastinate.  You can purchase it on Amazon and have it tomorrow.  It just takes a minute to install and it will save you money.

6. Optimise your fridge space

If your fridge gets dusty in the back  it can struggle to function at full capacity. Make sure to regularly pull it out and clean off the coils with a vacuum to optimise its performance.

Putting warm food in the freezer is another big nono.  It takes a lot more energy for your freezer to retain its temperature when you stack it with food that’s still warm. Let your leftovers cool before you stash them away.

Smart meter

7. Use your head while you wash things

Don’t wash things up under a running tap. Fill the sink with as much as is required for the level of washing  you have. If it’s just a few plates and cups, a third to a half of the sink is all that’s required. You could also avoid running excess water for rinsing.  Wait till your finished washing than rinse all at once.

Using a dishwasher? Put it on a timer and  turn it on some time in the middle of the night when it’s not peak usage in the city.  Better yet, if there’s just a few things, wash it by hand.

8. Monitor your energy use

Energy companies tend to use local data to estimate how much gas and electricity you’re using. While these are often close to reality, it’s impossible for them to be completely right every time.

By checking your own meters on a monthly basis, you’ll be able to make sure you only pay for the energy that you’re actually using.

If you don’t already have a smart meter, it might be worth investing in one. These cut out the middle man, ensuring you get an accurate reading throughout the year without having to check yourself.

9. Manage your energy smarter

Smart thermostats such as Nest and Hive, give you maximum flexibility when it comes to managing your heating. You can even control your heating when you’re out, using your smartphone, tablet or laptop.  They turn themselves down automatically when there’s no movement in the house and back up again when people are active.  At night they can be programed to your perfect temperature.  You are in control.

Smart appliances, lights and plugs can also be programmed to switch off at particular times or when you leave the house, saving you money.

10. Make long-term investments

If you’re not planning to move in the near future, it may be worth looking at more long-term energy-saving solutions. Solar panels could be  cost effective for you in the long run.

You might save a considerable amount on your electricity bill each year, and more by earning money for energy you generate then sell back to the grid. Re-insulating your home is another good investment, as is replacing your heater if it’s getting old.  Did you know that on an older home you can blow additional insulation into your attic and Lowes will give you the machine for FREE with a 10 bag minimum.  It usually takes 2 people.  One person on the ground and one person in the attic with the hose.  It’s a relatively simple process. Click the link to see how to add your own insulation to your attic.  Cooler months are perfect in Texas for adding to the R-Factor to lower your utility bills.  If you live in an older home, chances are your attic insulation has compacted and isn’t as effective as it used to be.  Just blow in a little bit more fluffy insulation to lower your utility bills.  It just takes a few hours.

When you replace your household appliances make sure you choose the most energy efficient ones. See which appliances are the most expensive to run.

11. Compare energy suppliers

Hopefully, some of our energy-saving tips will make a difference in your home. But don’t sit back and accept what you’re paying for your energy, especially if your supplier has recently increased their prices. Just dig out your latest energy bill,  start a quote with us and we’ll tell you if you could save by switching to another provider. And if clean energy matters to you, you can even see which suppliers have green energy credentials.

Peter Earl

From the Energy team

Thank you Peter for providing so much great information.
Myke

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How to Avoid Rental Scams

Searching for a rental property should be a fun experience – even if it is a little stressful, there’s still joy in the experience of looking at different condos, homes and apartments while picturing your life and how your furniture will fit within the new space. Unfortunately, rental scams can very quickly transform a positive experience into a real nightmare. Although most rental listings are legitimate, it is very important for renters to learn how to avoid rental scams and protect themselves from fraud. The best way to do this is to learn how to spot listings that are fraudulent and stay far, far away from them. Younger renters who are not experienced in looking into properties are more susceptible to falling victim to rental scams and fraud – they are also more likely to lose money in these situations. 

Rental scams are looking to accomplish one thing – to steal your money. They will try to encourage you to send a check for a security deposit or move-in fee without ever giving you the opportunity to view and tour the property, and they will keep your money without ever intending to rent out to you. Rental fraud occurs when a person claims to be a landlord, or a property manager and they try to rent out a unit or property that doesn’t actually exist or is not one that they have access to. When renters are on the hunt for properties to rent, they usually share various sensitive information for background and credit checks. Access to this type of information and bank accounts can easily put vulnerable renters in fraudulent situations. Understanding the most common types of rental scams is the best way to avoid them – here are some of the most typical situations to keep an eye out for so you can stay away from them:

  • Already leased property: A real or fake landlord will attempt to collect application fees or a security deposit for a rental that has already been leased out. 
  • Bait-and-Switch: The scammer will advertise one property but the one that is actually available is completely different. The scammer will attempt to collect a deposit or get a lease signed before allowing you to tour the property.
  • The Rental Doesn’t Exist: A scam artist will make up an advertisement or listing for a place that does not exist and will try to attract renters by advertising low prices significantly below market value.
  • Property Not as Advertised: The listing will feature an actual rental unit but will embellish information about features and amenities that are offered in order to collect a higher rent. The leasing agent will attempt to get a renter to sign the lease agreement and submit a deposit before they notice that the advertised amenities are actually missing. 
  • Hijacked Listing: A fake landlord will post a listing or advertisement for a real rental property but will change the contact information. Homes that are actually listed for sale will be listed as rentals in this common rental scam. 

Make note that in these common rental scams, the scammers will use real listings and change them around to fit their needs – this is why it’s hard to spot a fake from a real listing. The best way to determine whether it’s a scam is to take the time to visit a property in person. Here are some tips to help you figure out if a rental listing is a scam or real:

  • If the landlord is not willing to meet you in person then it’s not a good sign. Some common excuses include telling you that they are out of town, they are in the military or they don’t live in the area. A good landlord will always take the time to meet you, because they will want to get to know you just as much if they decide to rent out their property to you. 
  • If a landlord is insisting that you move in immediately, without ever seeing the unit then it is probably a scam. It’s very easy for someone to fake an online listing, so it’s important that you visit the property to make sure that it is really available. If the landlord tries to get you to inspect the property by walking around the outside at your convenience, then it is most likely a scam. 
  • An obvious sign of a rental scam is if they are asking you to pay rent or a security deposit before you sign the lease. As a potential renter you should never be asked to hand over a large sum of money before seeing a property and signing a lease agreement. You may be asked to pay for application fees that are usually collected to cover the cost of background checks, but first month’s rent or a deposit is not required as part of the application process. Don’t ever mail or wire money to a person, especially if you have not signed a lease. There have been instances where the scammer lives overseas and will ask you to forward money in return for the keys – this is something that you should be very suspicious over. Another dangerous situation is being asked to wire money to someone who you have only spoken to online, in which case you should immediately cease communication and report the listing as fraudulent. 
  • If you come across a listing with a price that seems to good to be true, it probably is. A property that is priced significantly below market value should immediately be treated as a major red flag – many times an owner could use this type of listing to lure in potential renters, encourage them to act fast and sign a lease before it’s gone, then switch the option to a more costly unit. The best way to determine if a property is listed at a fair rent is to research other comparable units or properties and speak with a real estate specialist who can guide you through the process and offer professional expertise and advice. 
  • Be aware of rental listings that are full of typos, poor grammar, excessive punctuation and many other errors. Landlords that are serious about renting out their property to a qualified candidate will take the time to put together a professional listing, complete with high resolution pictures, details about amenities and features and various other helpful information. A poor listing is likely to have been put together by a scammer. 
  • As a tenant, you will want to rent from a landlord that is responsive, available and professional. If a landlord does not require a rental application and credit check, or any other typical screening items then you should feel suspicious. 
  • A landlord or property manager that asks you to sign a lease that is not complete does not have your best interest in mind. If you sign an incomplete lease agreement it allows the landlord to change it whenever and any way they want without letting you know, which leaves you very vulnerable. Be diligent when going through your lease and make sure there are no blank spaces, vague writing or incomplete sentences. If you are unsure whether a lease agreement is legitimate or not don’t hesitate to get in touch with a lawyer or real estate professional to help you read through it. 

If you do happen to fall victim to a fraudulent rental listing, here are some steps to follow:

  • Contact the local authorities – if the person is located, they will be prosecuted, and you may be able to recover any money that was lost. 
  • Contact the listing website where you found the rental and make sure it is taken down.
  • Report this to the Federal Trade Commission – they are responsible for protecting consumers. 
  • File a complaint with the IC3 (Internet Crime Complaint Center) – this is a government agency that makes it easy for people to report crime that takes place on the internet. They work with the FBI and other local authorities to manage and solve crime like rental listing scams. 

The best way to avoid a rental scam is to make sure that you insist on seeing the unit in person and meet with the landlord before you move forward with submitting an application or surrendering any type of payment. Similar to a job interview, you are evaluating the property and the landlord to make sure that it will be a good fit for you. While it’s important for you to love the place you will call home it’s also important that you get along with your landlord. 

If you are looking for rental properties in Bryan College Station, make sure to check out our rental listings and see if something catches your eye. If you have any questions about rental information, renting in the area, listing a property for rent, more tips on how to avoid rental scams or need general real estate guidance please don’t hesitate to contact us. 

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Property Management Tips for Any Landlord

Owning an investment property brings you one step closer to collecting passive income and building wealth for yourself and your family. Whether you choose to own a single-family home, a condo, a townhome or a multi-family residence with a varying range of apartments, you will be responsible for this property. This means that as the owner you are responsible for fixing anything that is damaged, anything that needs to be repaired or replaced, ensure that the grounds are well-kept and that your tenants are taken care of. Owning an investment property is a big responsibility – many landlords will choose to take on property management by themselves and only seek assistance from qualified plumbers, electricians and other professionals or handymen as necessary. Others will choose to hire a property management company that will take care of the property from top to bottom, including maintenance, tenant complaints and issues, collecting rent, marketing the property when there are vacancies, etc. 

Whether you are a first-time landlord or an experienced investor with an impressive portfolio, we’ve compiled a list of property management tips for any landlord. Being prepared can help you avoid common mistakes so you can focus on taking care of your investment and building up your net worth. 

Research, Research, Research

Before you even begin thinking about becoming a landlord, it’s very important to do your research and understand the demand of the market. Do you have what it takes to be a landlord? Do you have the time to dedicate to managing your tenants and property? Here are some questions to ask yourself before you take the plunge into being a property manager for your investment property:

  • How much money is required for a down payment on the property you are interested in?
  • Is the area where the property is located considered to be desirable?
  • Are rents in the area appreciating?
  • How much can you charge for rent?
  • What are the rent control laws and policies in the area?
  • Is this a fixer-upper property and what will it take to renovate it? Is it worth it?

Run It Like a Business

You need to treat your investment property as a business – even if it’s hard to do at first, you will need to separate business from emotions. It’s not uncommon to encounter a tenant who is struggling to pay rent, but it’s important to put boundaries in place for things like late fees so that paying rent late doesn’t become a bad habit. Think about it this way – you have to pay the mortgage and bills on the property on time no matter what, so it’s important that you hold your tenants accountable for their rent. As a landlord, you should consult with a team of experts who can advise you on dealing with difficult situations – this can include lawyers, accountants, insurance agents and other property owners. 

Additionally, you will want to treat your tenants with kindness and respect so you can maintain a good reputation. Put practices in place that will keep your tenants satisfied so that in turn they won’t give you any more trouble than necessary. For example, ensure that you have reliable maintenance staff on hand that can respond to requests and emergency repairs on call. Similar to any other businesses, if you are not trustworthy and professional towards your tenants they won’t stick around. 

Lastly, discover new ways to increase your income beyond raising the rent on your tenants. If you properly researched the property before you made your investment, the value should appreciate, and you should be able to increase rent in the future. However, in the meantime you can think about different ways to collect income on the property, some ideas may include:

  • Installing a vending machine in a common area
  • Renting out storage space
  • Offering paid laundry services on site
  • Renting out additional parking or storage space to tenants
  • Leasing a billboard if you have the room for it on a larger building 

Get Insurance

There are so many different types of insurance policies in place to protect you and your assets. Fire, earthquake, flood and other disaster plans will keep your property safe in case of an emergency; homeowner’s insurance will reimburse you for any losses you experience or if you need to repair anything as a result of damage from a disaster. As a landlord you need to protect yourself from any potential liability by purchasing insurance. Depending on the laws and requirements of your state, you may also consider requiring your tenants to carry renter’s insurance as well. 

Learn How to Manage a Property

Being a good, successful landlord goes beyond filling vacancies and collecting rent. In order to thrive it’s important to learn how to effectively manage your property. 

  • You need to have a basic understanding of landlord and tenant rights, including rules about security deposits, notice laws, inspections, licenses and other procedures to ensure that you are fully informed and running your property within state law. 
  • Determine how you want to collect rent from your tenants – will you be collecting in person or do you prefer to use an online system? Although many tenants will opt to pay with checks and cash, it can create a complex situation if a check bounces and accepting cash can also be dangerous. An online payment system is an easy, safe and efficient way to collect rent and ensure that you avoid risky situations. 
  • Stay organized by saving copies of all records and paperwork that affects your property. This includes receipts for anything you have purchased, invoices for service and repair work, vendor contracts, etc. You can digitally scan paperwork so you can organize it on your computer and easily search for it next time you need it. Many property management companies will handle lease agreements, payments, maintenance requests and more online so they always have a digital paper trail to refer to.
  • Make sure to work with an experienced accountant that can help you keep your expenses organized, advise you on how to pay yourself and tell you what you need to file for taxes. 
  • Be professional by setting office hours that tell your tenants what days and times you are available. Even if you live onsite, it’s important to put this boundary in place so you’re not being approached by tenants 24/7. You should also have a plan in place in case of an emergency so your tenants can be taken care of as soon as possible. 
  • Decide if you are going to accept tenants with pets. Pet-friendly apartments are difficult to come by, so you can really stand out and quickly fill vacancies if you allow cats and dogs into your investment property. Although pets can be a liability, you can charge extra pet rent as well as a separate pet deposit to cover any damage that may be inflicted by the animals. Most tenants will gladly pay for the extra rent and deposit since there are so few options for pet-friendly properties. 

Sell a Lifestyle Experience

In order to make your investment property profitable, you will need to fill any vacancies that pop up. Your best shot at quickly filling vacancies is to make the property and unit(s) comfortable and desirable so that potential tenants can envision their life in this new home. Basic upkeep of the grounds is necessary because similar to buying a home, first impressions on curb appeal make a big difference. Ensure that the property is clean, gardening is maintained, and the common areas are welcoming. When it comes to individual units in a multi-family property make sure that you refresh the paint when tenants move out, do a deep clean, that the unit smells good and that old appliances are repaired and/or replaced. If your goal is to charge top dollar for rent, then you may want to invest in updating the property with hardwood floors, stainless steel appliances and other desirable upgrades. 

There’s no better teacher than experience, and as you continue to build your real estate portfolio and acquire more investment properties you will become an expert landlord. Renting out a property and working with tenants can be a challenging business, and the best way to enjoy a smooth experience as a landlord is to educate yourself in advance, be knowledgeable in all aspects of real estate and work with professionals who can support you when you need it. Last, but not least, it’s also important to acknowledge when it’s time to hand the work over to professionals – there are countless outstanding property management companies that can take over the work so you can focus your energy on your other priorities without having to worry about your investment property. Our team at Brazos County Realty would be thrilled to assist with all of your real estate needs – including helping you fill vacancies in your rental properties. Please contact us to learn more about our team, our experience and if you have any questions about investing in real estate and being a landlord in Bryan College Station – we look forward to hearing from you. 

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The Pros and Cons of a For Sale by Owner Property

Whether you choose to sell your home on your own or purchase a home that is for sale by owner (FSBO), then it’s important to think about all of the pros and cons of a for sale by owner property. We’ll break it down for both sides – being a seller and being a homebuyer interested in a FSBO property. 

Buying a For Sale by Owner Home

A home that is for sale by owner is directly sold by the homeowner without any help from a listing agent. Here are the steps to follow if you are buying a FSBO home:

  • Find a lender and get approved for a mortgage
  • Consider working with a buyer’s agent who can guide you through the process and look out for your best interest – this person will negotiate on your behalf and handle all the complicated paperwork for you
  • Make an offer on the property – if you are working with an agent, they will guide you on putting together a competitive offer. If you are representing yourself, take a look at the comps in the area to guide you as you decide how much to offer
  • Take your time looking around the property and be diligent about home inspections 
  • If you are not working with an agent, be a strong negotiator to make sure you get what you ask for
  • Be aware of the required paperwork to close and be thorough when filling everything out accurately

As there are with any other situation, there are pros and cons for buying a for sale by owner home, the pros include:

  • You avoid paying real estate agent fees and commissions by buying direct from an owner
  • You have the opportunity to be directly in contact with the owner, which can lead to a smooth negotiation

The cons of buying a for sale by owner home include:

  • Unless you or the seller are licensed agents, it is likely that neither of you are experienced with the minutiae involved in a real estate transaction, including the paperwork and time necessary to navigate the process
  • Misunderstandings during negotiations can lead to legal actions
  • You can overpay for a property if you don’t do research into market comps
  • You run the risk of the seller not being 100% honest about the property – especially for things that could potentially lower the value of the home

Buying a FSBO home isn’t always a great opportunity for a buyer – even though you may save on agent commissions, you may run into other problems during the home sale process. 

Selling a For Sale by Owner Home

There are many reasons why homeowners will choose to sell their own home without the help of a licensed real estate agent. In Texas, if you sell your own home you can save anywhere between two and six percent in commissions. FSBO is an option that allows many people to take charge of the selling process, call the shots, negotiate their own terms and who don’t want to pay an agent any commission. It may seem easy enough – you list your home, put out a yard sign, the offers start coming in, you pick a buyer, negotiate and close – right? Unfortunately, if it really were that simple then there wouldn’t be a need for the real estate agent profession, and everyone would be doing it their own way. Selling your own home can be considered as a viable option if you are an experienced home seller who is willing to put in the time and effort that it takes to do it right. Some of the key benefits of selling your own home include:

  • Direct control over how the property is sold – including your pricing strategy, scheduling showings and negotiating with potential buyers
  • You save on commissions and end up with more money in your pocket
  • For sale by owner sellers who find a buyer that is not being represented by a buyer’s agent will save an additional amount of money – about 2.84%, which is the average buyer’s agent commission rate in Texas. 

While it’s very appealing to save money, FSBO does have some significant risks that are worth pointing out. Research shows that homes that are sold by the homeowner will usually sell for about six percent less than those that are listed with an experienced real estate professional. Additionally, it takes a lot longer to sell a FSBO home because homeowners are not equipped with the marketing tools or network connections that agents have, and it is more likely to fall out of escrow even with an accepted offer. 

Real estate laws and processes are different across the country so it’s important to be familiar with the local market and laws if you choose to sell your own home. Here are some details on what you need to do in Texas to complete a FSBO transaction successfully:

  • Before you list your home for sale you have to prepare it by completing any necessary repairs, doing a deep cleaning and staging your home to make it stand out and look nice. 
  • Once the home is ready to be listed for sale you will want to work on your pricing strategy by looking into comparable sales within the last six to 12 months in your neighborhood. This means that you need to see what other home similar to your own sold for in this time period. The comps you look at need to have the same bedroom and bathroom count and combination as your own home, be similar in size, have comparable upgrades and be within one mile of your own property. Accurately and competitively pricing your home is key to getting it sold quickly. 
  • When your home is officially listed for sale on the market you have to be diligent about marketing the home with an attention-grabbing description, high-quality pictures, cross-listing it on different websites and promoting it on social media, in print ads and via word of mouth. You will also want to work on scheduling an open house for interested buyers and private showing appointments. Make sure to let your neighbors know that you are selling your home so they can share the information with their friends and family, etc. 
  • When a potential buyer comes along with an offer, you have to vet them to make sure they are qualified and can afford the home. If you accept an offer from an unqualified buyer, the sale will fall through and you’ll have to start from scratch with marketing and showing the home. 
  • The closing process can get really tricky if you are not experienced in the real estate process – there is a lot of paperwork that needs to be completed accurately, including:
    • A signed purchase agreement, as well as any addendums that list the agreed upon changes
    • A detailed statement of all the costs associated with the sale and who is responsible for paying them
    • A signed deed to legally transfer your property to the new owner (the buyer)
    • A bill of sale that is basically a receipt that includes your information and the buyer’s
    • A notarized document that states that you own your home and there are no liens on the property and that you are not trying to sell it to someone else
    • If you have a mortgage on your home, you will need to provide loan payoff information – if you don’t owe money on the property then you need documentation that proves that
    • If your home is part of an HOA, you will need to share the HOA codes, restrictions and financial information with the buyer
    • If you completed any major repairs or renovations on the home you will want to provide these receipts to the buyer, as well as contact information about who to contact if future repairs are necessary
    • A copy of the home warranty service agreement to explain what is covered and for how long

There are various other documents that may be required so you will have to be diligent about getting all the proper paperwork together and executed before closing. 

At the end of the day, buying a for sale by owner home or selling your own property without professional guidance is not for everyone. But now that you know what to expect, whether you are buying a FSBO home or choosing to sell your home by yourself you can feel confident about the process and the potential challenges you may encounter. In order to successfully complete a FSBO transaction you will need to make a plan, dedicate the necessary time, hustle and know when you need to seek out professional advice if you get stuck. Our team is always available if you are seeking guidance, please contact us if you have any questions about listing your home for sale or inquiring about a home that is listed for sale by owner. We look forward to working with you and assisting you with all of your real estate needs!

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How to Buy a Short Sale Property

Have you heard about short sale properties? Maybe you’ve been told that they offer a wonderful opportunity to buy a great home and become a homeowner at a discount, or you may have been told to steer clear of short sales because of the hassle. No matter what you have heard it’s important to note that purchasing a short sale home is a very different process than traditionally purchasing a property that is listed for sale. There are very few short sales that are completed within 30 days, and the process can be tricky and frustrating. The main benefit of buying a short sale property is that you can get a steal of a deal on a great home. 

Before we get into how to buy a short sale property in Bryan College Station, TX let’s take a look at what a short sale is. A short sale can be compared to a foreclosure home, but they are not the same. When a home is available at a short sale, the bank or the mortgage lender will agree to allow the current homeowner to sell the house for less than what they owe. In order for a home to be considered a short sale, two things need to happen:

  • The homeowner is extremely behind on payments and won’t be able to catch up
  • The housing market is suffering and has significantly gone down so that the house is worth less than the remaining balance on the mortgage

In most cases, the lender and the homeowner would prefer to go through with a short sale process in order to avoid a complete foreclosure. 

A common misconception when it comes to short sale homes is that many people believe the lender would like to get rid of the home as fast as possible and move quickly in order to get as much money back as possible. The truth is that banks and lenders will take their time in order to recover their losses as best they can – just because a property is listed as a short sale doesn’t mean that the lender will accept your offer, even if the seller agrees to your price and terms. Although potential buyers will negotiate with the homeowner throughout the short sale process, all of the details must be reviewed and approved by the lender in order for the sale to go through. This is what makes the process so unpredictable and lengthy – everything has to be approved by the lender even if the homeowner and buyer agree on their own terms. 

Before you get excited about the opportunity to buy a home below market value you need to pick up the phone and call your real estate agent. Your agent will be able to look into the property and research the details behind the short sale that they can then share with you. Here is a quick breakdown of the process that takes place during a short sale transaction:

  • The homeowner initiates a conversation with their real estate agent and lender about the possibility of selling the property via short sale. The owner will have to prove to the lender that they can no longer make payments towards the mortgage and that they have no assets to sell that would help them catch up on the payments. 
  • The agent and homeowner list the property for sale, and eventually put together and execute a sales contract with the interested buyer. Remember that even if a contract is executed this does not mean that the sale will make it to the finish line – the lender has to approve the price and terms.
  • The lender will review the sales agreement and either approve the offer, reject the offer, reject the offer but outline what they would agree to or simply choose not to respond at all.
  • Once the lender responds to the sales agreement it’s back to the buyer to either accept or reject the new terms outlined by the lender. If the contract is approved, then the sale will continue and eventually close, and the home will be transferred over to the new owner. The lender will receive the proceeds from the sale and release the original homeowner from their mortgage loan, even if the full balance was not paid off by the sale of the property. 

If you are considering buying a short sale property in Bryan or College Station, here is a more in-depth outline of what you can expect throughout the process:

  • The first step is to find the property that you are interested in. Whether you come across a short sale while you’re looking for homes for sale or if you are specifically searching for these types of opportunities, you should not be doing it on your own. Working with a qualified and experienced agent can make all the difference between a smooth transaction and a difficult and frustrating experience. An agent will check the title, find out whether a foreclosure notice has been filed, determine how much is owed to the lender and gather additional information to help you put together a competitive offer. Our team at Brazos County Realty has more than 25 years of experience in the real estate industry and will gladly offer up our knowledge and expertise to guide you through any real estate transaction – no matter how complicated it may be!
  • Unless you are planning on paying for a short sale home with cash, you will still need to go through the steps of getting approved for a mortgage. If you don’t have financing secured, then the lender will most likely dismiss your offer and you’ll miss out on the home. Getting pre-approved is a relatively quick and easy process – most lenders can verify your credit and financial information within a day or two. Once you submit the paperwork and you get pre-approved the lender will write you a letter that you can use to make a credible offer on a home. 
  • When you are ready to make an offer on a short sale home you need to make sure that it is competitive – your real estate agent will be there to guide you and help you put this together. A good offer on a short sale home includes:
    • The purchase agreement that will be signed by you and the seller
    • The earnest money deposit to show that you are a serious buyer
    • The pre-approval letter from your lender, unless you are paying all cash
    • A comps package for similar properties in the area to show that your offer is strong
    • Proof of funds showing that you have enough money to purchase the home and make mortgage payments if you are getting a loan

Putting together a low offer will not work in your favor – remember that everything has to be approved by the lender that holds the mortgage on the home even if the seller accepts your offer. Underpricing is the number one reason that banks will reject offers on short sale homes. 

  • Make sure that you and your agent put a list of contingencies together – these are conditions that must be met before the sale closes. For example, state how long you are willing to wait for short sale approval, the amount you will pay in closing costs, how many days you need to complete a home inspection, etc. 
  • Keep in mind that short sale homes are sold “as is.” Unlike in a regular real estate transaction, in a short sale you can’t ask for credits from the seller or for them to lower the price if you uncover issues that will be expensive to repair. This doesn’t mean that you shouldn’t get a home inspection, you should always get a thorough inspection from an experienced inspector because this may uncover deal-breaker problems that may change your mind about going through with the sale. 
  • Short sales usually take longer to close than a traditional sale – you can expect an average of 60 to 90 days for a lender to approve the terms of your offer. There are so many variables that can happen during this process that can extend the time it takes to complete the transaction. This is why it is important to work with an agent who is experienced in short sales so they can manage your expectations and guide you through the process. 
  • There are various issues that can come up during a short sale, but some of the most common ones include:
    • The bank will accept a competing offer
    • The seller backs out of the deal
    • The seller owes multiple debts to different lenders, and the junior lender (smaller debt) will block the sale

Finding a short sale home can be difficult to begin with and the process of purchasing it is also lengthy and unpredictable. Despite these challenges, if you make it to the finish line then you know that you got a great house at an incredible price. If you are interested in learning more about short sale properties or are in need of a real estate professional to guide you through a short sale, please contact us. 

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Buying an Investment Property in Bryan

Investing in real estate is a popular strategy among many Americans who are trying to make more money and grow their wealth. Do you know why? Because property is very valuable and is considered to be a great long-term investment – the one thing that holds people back is that investing in and owning real estate is a big commitment that requires a lot of time and money. The great American dream tells us that a big part of it falls in homeownership, which means that most people will save up money to have enough for a down payment on their first home. Then they’re likely to sell that first home and take the profit they made and invest it back into a larger home. 

If you are looking to buy your first home, but you don’t necessarily love the homes or the neighborhoods that you can currently afford, then you should consider buying an investment property in Bryan, TX instead. Here are some reasons why many first time buyers are investing in real estate instead of taking the traditional route of buying their first home. 

  • Home values are at an all-time high and are consistently increasing year over year. While we don’t know how the COVID pandemic will impact the real estate market and home values long-term, at this point in time the market is still strong in Bryan College Station. 
  • Interest rates are historically low, which means that your monthly payments will also be fairly low. The interest rate that you qualify for largely depends on your credit score, the down payment amount and your debt to income ratio. Most first time buyers will put down between three and five percent, but it is best to put down 20% so you can avoid mortgage insurance, qualify for a lower interest rate and enjoy lower monthly payments. When it comes to credit score, banks want strong borrowers with a score above 740. If you are having a hard time qualifying for a low interest rate due to a small down payment, lower credit score or other issues then you should consider working with a smaller bank that may have more flexibility in lending than a big national bank. 
  • One of the main reasons why buyers wait to pull the trigger on buying a home is that the home they want or the neighborhood they are interested in is not affordable. With home values on the rise many first-time buyers find it impossible to purchase a home they like in an area they like so they end up settling for a smaller home or a less than desirable area. If you find yourself in this scenario you should consider buying an investment property in Bryan that you can rent out. This allows you to get your foot in the real estate door, generate monthly cash flow and build equity until you can afford to buy the home of your dreams in the neighborhood that you like. 
  • Owning real estate that you operate as a rental offers many tax benefits and write offs that can help you save money long term.
  • When you operate a home as a rental property you can charge rent that is higher than your mortgage, which helps you cover your monthly expenses as well as getting extra cash flow that you can set aside for the down payment on your dream home.
  • Another reason why buyers choose to invest in property is because they want or need flexibility in their lifestyle. Owning a home can limit your ability to relocate if you need to, which might not be a good fit for your current lifestyle. Buying an investment property in Bryan, TX gives you the freedom to move if you want to, but you won’t miss out on growing your real estate portfolio and equity. 

Investing in Property

Investing in real estate can mean many different things – you can own a single-family property, a condo or townhome or you can invest in apartments, retail and land. The best decision is dependent upon your unique situation and what your investment goals are. Let’s take a look at the most common ways that people invest in real estate:

  • Buying a single-family property is the most common type of real estate investment. It is a wonderful way to create additional revenue on a monthly basis, and it could also earn you a nice profit if and when you choose to sell. The key to being successful in this type of investment is to buy in a good location that has potential for growth. For example, buying a home or a condo near Texas A&M University is a great opportunity because there is always a need for student and faculty housing in the area. 
  • Another common real estate investment is flipping homes. What does this mean? This is when you buy a home that is usually a fixer upper, put some money into it for renovations and improvements and then sell it quickly for a profit. Flipping homes is an appealing investment because the profit turnaround is quicker than renting out a property for years. The risk with this investment is that you could lose money if the market changes before you are able to sell for a profit. They key to being successful with flipping homes is to buy low, make only necessary improvements and don’t overspend on the renovation and to sell quick. 
  • There are other opportunities to invest in real estate, including commercial properties like apartments, retail shops and more, but those can be more difficult and come with a higher price tag. 

How to Invest in Real Estate

You might be wondering when the best time to invest in real estate might be, and the answer is whenever you are financially ready. Keep in mind that investing in real estate is the same as buying a home – except that when you invest the goal is to make money back on this property so you can begin to build wealth. If you can own multiple rental properties that you have cash flow from, as well as your own family home then you are all set. Here’s a quick guide to help you get started when buying investment property in Bryan, TX. 

  • Save up for a down payment of at least 20% so you can avoid mortgage insurance, qualify for a low interest rate and keep your monthly payments low. The lower your monthly payments are the more cash you’ll be able to make from rent. Take your time shopping around with your lender for the best rate. 
  • If a real estate portfolio is part of your long-term plan for growing wealth, then you should diversify your investments. This means that if your whole net worth is invested in real estate any ups and downs in the market will throw you into a panic. Keep your money spread out in other investments like a 401(k), Roth IRA or other savings accounts. You can also diversify your money by investing in different types of real estate – like apartments, retail shops, etc. 
  • While it is possible to own investment property all over the country successfully, if you are just getting started then we recommend you stay local. Even though you will most likely hire a property management company to take care of your property, to assess damage and make repairs, at the end of the day you are the only owner and it’s important to keep tabs on your investments.
  • Be prepared for risks and to lose some money. Renting out a property sometimes means that the home will stay vacant for a few months until you find new tenants. During this time, you are responsible for making the mortgage and utility payments, which can be tough to do if you are not prepared. Even when you have tenants in your investment property you will still need to be ready to make repairs and to take care of it if something breaks. 
  • Hire a real estate agent before you make any decisions. A professional realtor will help you understand the local market, they’ll know what areas you should look into and what hurdles you may face as an investor. They will also help you through the purchase process once you find the perfect investment property, and they can also help you find tenants once you are ready to operate it as a rental. 

There are many pros and cons to investing in property and real estate – it isn’t for everyone! If you are debating on whether or not buying an investment property is right for you, we encourage you to discuss this opportunity with your financial planner and a real estate expert. Our team has more than 25 years of experience in the real estate market and we’ll be happy to answer your questions about investing in property and help you find the perfect homes to start with. If you would like to learn more about us or to explore our current listings, please contact us. We look forward to hearing from you soon! 

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Filed Under: Blog

Tax Credit for Window Replacements Eco-Friendly Homes

 

 

Ultimate Guide to Turning Your Home into an Eco-Friendly Oasis

Originally posted on Porch.com

 

Every day we see our planet crying out for help: choking from smog, drowning in plastic-filled, polluted waterways, and being buried in landfill waste from a use-it-once, throw-it-away society. One of the best things we can do is adopt an eco-friendly or zero-waste lifestyle. Being eco-friendly means trying to help, and not hurt, our environment. Zero-waste means you do nothing to harm the environment and use nothing that could pollute or end up in a landfill.

While in a perfect world we would all practice a zero-waste lifestyle, let’s start with helping you find ways to turn your own home into an eco-friendly paradise of sorts. We have some room-by-room tips that will have you reducing, recycling, and reusing like a pro.

Your “be kind to the planet” journey begins with an understanding that we all leave a carbon footprint, which is the total greenhouse gas emissions produced by a person or in this case, a building. One of the biggest factors of a home’s carbon footprint is how much electric energy it uses. This can be from appliances like refrigerators, televisions, washing machines, and air conditioners.

Reducing your home’s electricity use is a big step in reducing that carbon footprint. So, let’s look at some rooms where you can make earth-friendly changes. In the process, you may even save something green for yourself: money.

Kitchen

Let’s start with one of the busiest rooms of the house, a spot that offers lots of eco-friendly options. Your greener lifestyle can start even before you bring food into your kitchen: the choices you make while shopping.

Food packaging is a major space-filler in landfills. Packaging is designed to be appealing, but it’s wasteful and a big part of this nation’s excess trash problem. Buy eco-friendly, non-plastic packaging, or pick fresh produce without packaging at stores, vegetable stands, or organic groceries. Instead of placing produce and other groceries in plastic bags, bring your own reusable bags.

Recycle all of the packaging you can. Make a goal of putting as little at curbside as possible. If you go zero-waste, this means absolutely nothing would be waiting for the garbage truck.

Shop only for the fresh food you know you’ll eat in the next week so it doesn’t spoil and end up in the trash. This saves money while keeping food from rotting in landfills and producing harmful CO2 gas. Get creative making meals that use up the foods you have on hand. Have a “what’s left in the fridge?” meal once a week. Dice fresh produce like onions, garlic, and peppers and freeze them so you’ll always have them on hand. You can freeze many fruits and vegetables for later use.

Because plastic isn’t biodegradable, it pretty much lives forever in the landfills, so look for ways you can reduce the number of plastic items you bring into your house. For example, resist buying those single-use water bottles. Instead, install a water filter for your home and use sustainably-made reusable water bottles.

When you’re making a sandwich or snacks for lunch or a picnic, place them in reusable containers instead of one-use sandwich bags. Look for ways to reduce your dependency on plastic wraps and bags.

Even washing dirty dishes is an opportunity to go green. Try using less water, and if you’re replacing your dishwasher, research the most energy-saving models with the lowest water consumption. This will save money on your water and electric bills. Using less water also helps save the aquifer.

When cooking, choose your microwave over your conventional stove or oven and you’ll be surprised by how much energy you save.

Bedroom

Believe it or not, there are ways to make your bedroom more eco-friendly. Explore vintage shops or online selling groups for makeover accents to freshen up your decor and try your hand at DIY room updates. Look at television shows and online tutorials for inspiration and advice. Tired of the same comforter or quilt? Shop consignment stores or thrift stores for bedclothes, giving new life to items that otherwise might end up in a landfill.

If your mattress is old and you can no longer get a good night’s rest, it’s time to research mattresses made from organic, sustainable materials. Eco-friendly, easy-to-recycle bedding choices feature manufacturing processes that use less water and no harsh chemicals like microplastics. Try to stay away from polyester and nylon fabrics which aren’t kind to the environment.

Organic cotton, linen, and hemp are among the most eco-friendly fabric choices for your sheets, blankets, pillows, and clothing. Organic products are grown without environment-damaging chemicals like pesticides and fertilizers. Fabrics made from eucalyptus, birch, or beech trees are growing in popularity because of their eco-friendly growth and production processes.

Some companies now make eco-friendly bedding products by turning used water bottles into polyester, helping reduce waste while recycling. How cool is that?

Now, let’s take a look inside your clothes closet. One great way to create an eco-friendly wardrobe is to limit buying new clothes and instead find ensembles at shops that specialize in gently used items. When you clear your closet of clothes you haven’t worn in awhile, consider gifting them to someone else, selling them at a consignment shop, or donating them to a thrift store.

If you own a sewing machine, consider making quilts or other new creations from unwanted clothes. For example, during the Coronavirus quarantine, many people repurposed sheets, t-shirts, and other clothing by sewing them into protective face masks.

Bathrooms

One big way to be eco-friendly in the bathroom is to take showers instead of baths. This saves both water and electricity from your water heater. You can also reuse your towels before laundering them.

Pick eco-friendly healthcare products, ones without harsh chemicals that aren’t good for either you or the environment. Look for sustainable packaging and consider re-using existing shampoo bottles and other containers. Buy large refill containers instead of smaller plastic bottles each time.

Avoid buying “scrubbing” products with microbeads, like exfoliators, body washes, and toothpaste. The plastic, non-biodegradable microbeads don’t just disappear down the drain; they end up in drinking water and also in the ocean and food chain, leaving a wake of lasting damage.

You can also find or make eco-friendly cleaning products for your bathroom and other rooms in the house. Many popular cleaning products contain harmful chemicals that aren’t friendly toward our environment and can be harmful to you. Make your own cleaning products from simple, natural ingredients like baking soda and vinegar or look for natural, green cleaning products.

Laundry Room

For many decades before dryers became popular and affordable, laundry day included a very eco-friendly drying process: a clothesline. Consider adding this to your laundry routine if possible. It’s a low-tech, high-reward way of helping the planet, and leaves your clothes smelling sunshine-fresh. Giving the dryer a rest also puts a good dent in your monthly electric bill.

If your old washing machine is beyond repair, contact a scrap collector to pick it up so parts of it can be recycled. When you’re ready to buy another washing machine, research energy-saving, water-saving models or buy one used, saving it from taking up space in the landfill.

Also, look for green laundry detergents and other products free from polluting chemicals. Those chemicals remain on your clothes which, of course, stay in contact with your skin.

Backyard

Your yard can become an oasis of green in more ways than one. Transform a boring, high-maintenance, and planet-harming lawn (which requires lots of water, fertilizers, and weed killers) into your own edible garden. There’s nothing finer than picking your own tasty, homegrown tomatoes, beans, watermelon, and more. This rewarding project saves you money at the grocery and reduces your dependency on packaging. So many ways to win! There are lots of resources online and at your library on how to start your own garden.

When it comes to fertilizing your garden, make your own free, nutrient-rich soil additive by composting natural waste products like unused fruits and veggies, peels, coffee grounds, grass clippings, and more. Add some brown stuff like leaves, twigs, and dirt, a bit of water and air, and you’ll soon have rich compost. This project not only reduces the amount of garbage leaving your property, but it cuts down on the production of methane from rotting landfill food.

If you live in an apartment or can’t set up your own composting system, you can still reduce your food trash and help the environment. Some cities have composting services that let you save your compostable items in approved containers and the company picks them up.

If you don’t have a yard for a garden, you can grow food in pots on patios, balconies, windowsills, or porch railings. Container gardening is perfect for herbs and other edibles like cherry tomatoes or peppers.

You can also make your yard more eco-friendly by planting trees that are native to your area. Not only will they provide oxygen and stabilize the soil, but in the years to come, they’ll shade your house so it stays cooler in summer. Just be sure not to plant them too close to any sun-dependent solar panels.

Looking for a patio makeover? Consider buying lounging furniture from online resale groups. This gives items a new life, keeping them out of the landfill and boosting your eco-friendly lifestyle. You can personalize these new-to-you furnishings by painting or accenting with cushions and pillows. If you choose new furniture, look for sustainably produced, natural frames like bamboo or other wood – not plastic.

Whole House

There are things you can do for the entire house that will improve its overall eco-friendly rating and make you a caretaker of this planet. One of the first ways is to turn off and unplug appliances when you’re not using them. Keeping them on standby drains electricity, and that ends up costing you money every month.

Turn off lights when you leave the room and choose longer-lasting LED bulbs. These bulbs save a tremendous amount of power and come in different shapes and brightness levels to help you match your decor needs.

In the summer, use your ceiling fans to feel cooler instead of cranking up your air conditioner. You’ll be pleasantly surprised by how much electricity this saves.

When your TV, air conditioner, laptop, or other appliance is on the blink, try fixing it instead of pitching it. Repairs are cheaper and more environmentally friendly than discarding and buying a new appliance. When you must replace an appliance, look for the most energy-efficient model, and try to donate or recycle the old one.

One of the best ways to make your entire house eco-friendly is investing in additional insulation. Over the years, some kinds of older  insulation compacts causing ineffectiveness.   Insulating your attic and/or walls traps more heat or cool air (depending on the season) in your home, so it’s not escaping into the environment. This helps reduce your monthly energy bill, well worth the initial money spent. You can also replace older, single-paned windows with double-paned ones that help retain the inside temperature. Both College Station as well as Bryan, TX have financial incentives for replacement of your old windows.

If you want to take your green initiatives to new heights, look up. Is your house in a sunny location and facing south? Consider having solar panels installed on the roof. These panels transform sunlight into your own renewable energy supply of electricity, reducing your monthly bill and your reliance on the electric company. You’ll get lots of eco-friendly bonus points with this decision, and some agencies even offer a rebate to go solar.

 

Energy Efficiency and Skylights  

You can also replace older, single-paned windows with double-paned ones that help retain the inside temperature. Both College Station as well as Bryan, TX have financial incentives for replacement of your old windows.   There are two reasons that skylights are so popular in green remodeling circles. The first is that, like any window, the right skylight has the potential to help increase energy efficiency in your home (and reduce energy costs), especially when it comes eliminating heat transfer and making the most of passive solar heating. The other reason skylights are so heralded in green remodeling circles is that they maximize natural lighting, as well. Though they are not automatically an energy improvement; they must be placed strategically and be shaded in the summer to maximize energy savings.  Reduce the Need for Artificial Lighting—The more natural light you can let in by installing skylights in all their forms, the less you’ll have to rely on expensive artificial lighting to light your home. In fact, skylights can be especially effective at increasing natural lighting in hard-to-light interior areas of your home.  Skylights add value to your home and are a positive incentive to home buyers in College Station, TX, and  home buyer Bryan, TX,  as well as internationally.  You’ll love your new skylight in the bathroom, walk in pantry, utility room, over kitchen islands, rooms without a window, even the garage and storage sheds. According to Myke Leatham, Broker/Owner of Brazos County Realty, ‘Having sold many houses with skylights, buyers are impressed by natural light and this may increase their motivation to purchase!’

UPDATED JANUARY 2020: The Non-Business Energy Property Tax Credits have been retroactively extended from 12/31/2017 through 12/31/2020

Home Owners Tax Credit for window replacement:  10% of cost up to $500 or a specific amount from $50-$300.
Expires:  December 31, 2020

Details:  Must be an existing home & your principal residence.  New construction and rentals do not apply. Requirements.  Must be ENERGY STAR certified.

You do not have to replace all the windows/doors/skylights in your home to qualify.  And it doesn’t need to be a replacement either – installing a new window where there wasn’t one previously (like in an addition) qualifies.

Tax credit does not include installation costs.

How to apply:  If you have cloudy windows in your home, chances are the seal is broken and are no longer energy efficient.  Fix the windows before December 31, 2020 and get a little money back!

 

Feel Good While Doing Good Things for the Earth

Whether you’re considering adopting a more eco-friendly lifestyle in your current College Station home or moving and wanting to make a change to be kinder to the environment, save money, or improve your health, you’re taking part in a wonderful movement that helps ensure a brighter future for this beautiful planet.   Compost with Red Wiggler Worms instead of sending scraps to the landfill.  Composting with worms (a.k.a. vermicomposting) is the proverbial win-win situation. It gives you a convenient way to dispose of organic waste, such as vegetable peelings. It saves space in the county landfill, which is good for the environment. It gives worms a happy home and all the free “eats” that they could want. For those that have gardens or even potted plants, homegrown compost is a great way to feed and nurture plants.

Call Myke Leatham, a College Station Realtor in Aggieland,  Broker/Owner of Brazos County Realty in College Station, TX to speak with an experienced and  conscientious professional who can really make a difference in the buying and selling process of all things ‘Real Estate’.

 

Brazos County Realty
13464 I and GN Rd.

College Station, Texas 77845
Phone:  979-693-0201
Email: [email protected]

If you’re house hunting or just looking for an eco-friendly home, check out the Bryan-College Station MLS.  Free link to all properties for sale in the Brazos and surrounding counties.

 

 

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Filed Under: 1st time home buyer education, Blog, Brazos Valley Housing Market, Bryan Community, Bryan Housing market, Bryan MLS, buying a house, buying and selling real estate, College Station Community, College Station housing market, College Station Realtor, Community, First-time buyer, home for sale Bryan, home for sale College Station, Homes for sale, house hunting, Housing Resources, Information, Investment properties in College Station

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13464 I and GN Rd.
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Phone: 979-693-0201
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