Hello Everyone This is Brad Hammarlund with Exit Homevets Realty in Killeen TX. I work with people looking to sale their homes and also with people who are looking for homes for sale in Killeen TX, homes for sale in Copperas Cove TX, homes for sale in Harker Heights TX.
Are you wanting to save money on your home purchase? Thinking about buying a distressed property? What are the risks?
I work with a lot of clients who are interested in buying foreclosed homes but there are a few things to consider when dealing with a foreclosed property. There will be more out of pocket costs when you are buying a foreclosure. The banks normally will not pay for title insurance or pay for a survey for the property, just these two things can cost you an additional $1500 or more, but if you are saving $20,000 it is definitely worth it. The main thing to think about is the home is being sold as is, there are no guarantees and no warranties. Before you decide to purchase a home you should always have it inspected this is even more important when buying a foreclosed home. The seller of the home is a bank or a government agency and they have no idea of what, if anything is wrong with it. A home inspection will give you some idea of what you are getting yourself into. I don't want you get get me wrong even when having a home inspection they can not find everything, the inspectors can not see into the walls or underneath flooring but they are trained to look for things that can present a problem. Some foreclosed homes are great homes with nothing wrong with them and you can get a real deal on a great house but then there are some that basically need completely rebuilt. If you are willing to do a little work on the house then you can end up with a great home that you were able to buy at a great price.
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX.
At Exit Homevets Realty We are Real Estate Expert Advisers And
Marketing Innovators. I am here to assist you with all of your real
estate needs. Feel free to call or text anytime: (254) 291-0630
Thursday, August 29, 2013
Monday, August 26, 2013
The COST of a Home: Last Year, This Year & Next Year
Hello Everyone This is Brad Hammarlund with Exit Homevets Realty in Killeen TX. I work with people looking to sale their homes and also with people who are looking for homes for sale in Killeen TX, homes for sale in Copperas Cove TX, homes for sale in Harker Heights TX.
This is great article I came across on the KMC Blog. This basically shows the price of a house last year and what it would cost with the interest rates from last year. Then the price of the house due to appreciation for this year and the payment with current interest rates, and the projected cost of the house next year price increase due to appreciation and what the payment should be with the projected interest rate for next year.
From a financial perspective, why wait if you are thinking about buying?
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
This is great article I came across on the KMC Blog. This basically shows the price of a house last year and what it would cost with the interest rates from last year. Then the price of the house due to appreciation for this year and the payment with current interest rates, and the projected cost of the house next year price increase due to appreciation and what the payment should be with the projected interest rate for next year.
The cost of a home is determined mainly by two components: price and mortgage rate. Today, we want to show how the monthly cost of purchasing a median priced home has changed over the last twelve months and how it might change over the next twelve months. For the first two examples, we will be using the National Association of Realtors’ (NAR) Existing Home Sales Report to establish median price and Freddie Mac’s Primary Mortgage Market Survey to establish mortgage rate. We also assumed a 20% down payment in all examples.
LAST YEAR
The median priced home in the country was selling for $187,800. The 30-year fixed mortgage rate was at 3.5%. Here is what it would cost to buy a home last year:
TODAY
The median priced home in the country is selling for $213,500. The 30-year fixed mortgage rate is at 4.5%. Here is what it would cost a purchaser to buy a home today:
The monthly cost increased by: $190.78!
NEXT YEAR
Projecting into the future in real estate can be rather tricky. To establish future pricing, we depended on the over 100 housing experts surveyed for the Home Price Expectation Survey who called for an approximate appreciation rate of 5% over the next twelve months. For the interest rate, we took the average of the projections from the Mortgage Bankers’ Association, Freddie Mac and Fannie Mae. Here is what these experts project will be the approximate cost of a home a year from now:
The monthly cost will increase by about: $97.32!
Bottom Line
From a financial perspective, why wait if you are thinking about buying?
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
Thursday, August 22, 2013
Whats to become of home loans in the future?
Hello Everyone This is Brad Hammarlund with Exit Homevets Realty in Killeen TX. I work with people looking to sale their homes and also with people who are looking for homes for sale in Killeen TX, homes for sale in Copperas Cove TX, homes for sale in Harker Heights TX.
With our government going deeper and deeper in debt are they still going to back mortgages? There has been a lot of debate on the issue and President Obama has recently came out and said that he is going to start limiting the amount of federally backed loans in the future and that the private mortgage industry is going to have to take more risks. For those who do not know there are 3 main loan types available to home buyers, VA, FHA, and Conventional loans.
The VA loans are loans backed by the Veterans Administration and only those who served are eligible for this benefit. These loans will allow the purchaser to finance 100% of the loan, so they re not required to have a down payment. Along with that they are not required to carry mortgage insurance on the loan, and they have the best interest rates of the 3 kinds of loans so they will have a lower monthly payment than the other types of loans. Their main requirements are fist to be eligable, you will need a minimum credit score of 620 and a debt to income ratio of 45% or better.
The FHA Loan is a loan backed by Federal Housing Administration. There a lots of different loans that fall under the FHA. The majority of these loans you will be required to have a minimum of 3.5% down, and you will be required to carry mortgage insurance till you pay down the loan to the point you have 20% equity in your home. They normally have lower interest rate than a conventional loan. They offer programs from everything from first time home buyers to investors looking to purchase a home and finance the repairs. Their main requirement are credit scores above 635 there are sub prime products available to people with lower scores but they will have higher interest rates.
The Conventional loan is just that a normal bank loan. The Conventional loans are great for anyone who can not qualify for a government backed loan or if the house does not qualify to be financed by a government backed loan. These are used by home buyer and investors, they normally require anywhere from 5% down for an owner occupant to 20% down for an investor. They do require you to have mortgage insurance till you reach 20% equity in your home. These loans have less stringent requirements when it come to the property they are based strongly on your credit and ability to pay back the loan. Their main requirement are credit scores 640 or better and the rest depend on the bank and their underwriters. The interest rates can vary so you need to shop around.
Now that you know a little about the different type of loans what will happen when the FHA stops backing mortgages and you want to buy a home? You are going to have to have fair to good credit, you are going to be required to have more money to put down, plus you will have a higher interest rate. So if you are thinking about buying now is the time while interest rates are still low and you have the ability to still get a government backed loan. This increases your money's purchasing power and allows you to get more of a home for a low monthly payment. Stop and think less than 3 month ago the average interest rate was 3% now it is over 4% this results on average to around a hundred dollars more a month on the same home purchase just due to the increased amount going to interest.
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
With our government going deeper and deeper in debt are they still going to back mortgages? There has been a lot of debate on the issue and President Obama has recently came out and said that he is going to start limiting the amount of federally backed loans in the future and that the private mortgage industry is going to have to take more risks. For those who do not know there are 3 main loan types available to home buyers, VA, FHA, and Conventional loans.
The VA loans are loans backed by the Veterans Administration and only those who served are eligible for this benefit. These loans will allow the purchaser to finance 100% of the loan, so they re not required to have a down payment. Along with that they are not required to carry mortgage insurance on the loan, and they have the best interest rates of the 3 kinds of loans so they will have a lower monthly payment than the other types of loans. Their main requirements are fist to be eligable, you will need a minimum credit score of 620 and a debt to income ratio of 45% or better.
The FHA Loan is a loan backed by Federal Housing Administration. There a lots of different loans that fall under the FHA. The majority of these loans you will be required to have a minimum of 3.5% down, and you will be required to carry mortgage insurance till you pay down the loan to the point you have 20% equity in your home. They normally have lower interest rate than a conventional loan. They offer programs from everything from first time home buyers to investors looking to purchase a home and finance the repairs. Their main requirement are credit scores above 635 there are sub prime products available to people with lower scores but they will have higher interest rates.
The Conventional loan is just that a normal bank loan. The Conventional loans are great for anyone who can not qualify for a government backed loan or if the house does not qualify to be financed by a government backed loan. These are used by home buyer and investors, they normally require anywhere from 5% down for an owner occupant to 20% down for an investor. They do require you to have mortgage insurance till you reach 20% equity in your home. These loans have less stringent requirements when it come to the property they are based strongly on your credit and ability to pay back the loan. Their main requirement are credit scores 640 or better and the rest depend on the bank and their underwriters. The interest rates can vary so you need to shop around.
Now that you know a little about the different type of loans what will happen when the FHA stops backing mortgages and you want to buy a home? You are going to have to have fair to good credit, you are going to be required to have more money to put down, plus you will have a higher interest rate. So if you are thinking about buying now is the time while interest rates are still low and you have the ability to still get a government backed loan. This increases your money's purchasing power and allows you to get more of a home for a low monthly payment. Stop and think less than 3 month ago the average interest rate was 3% now it is over 4% this results on average to around a hundred dollars more a month on the same home purchase just due to the increased amount going to interest.
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
Just Listed beautiful 4 bedroom 2 bath house 2204 Clairridge Drive in Killeen
Hello Everyone This is Brad Hammarlund with Exit Homevets Realty in Killeen TX. I work with people looking to sale their homes and also with people who are looking for homes for sale in Killeen TX, homes for sale in Copperas Cove TX, homes for sale in Harker Heights TX.
Our office just received a new listing and I wanted to let everyone know about it. This is a beautiful 1621 sqft home, 4 bedroom 2 bath house located at 2204 Clairridge drive in Killeen. It is in the stratford addition sub division. For those of you who are not familiar with that area, to get to it Take Stan Schlueter loop to you get to the post office turn onto Hitchrock drive and follow down to Clairidge drive turn right and the house will be the 5th house on the right. This is a very nice neighborhood located close withing minutes to Ft Hood, Metroplex hospital, airport, schools, parks, and shopping. The home was built in 2000 it is 4 sided brick it sits on .24 of an acre so it has a very nice sized backyard. The house does have a water softener, security system, separate utility room, and so much more. Call me to today to schedule a showing before it is gone (254) 291-0630
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
Our office just received a new listing and I wanted to let everyone know about it. This is a beautiful 1621 sqft home, 4 bedroom 2 bath house located at 2204 Clairridge drive in Killeen. It is in the stratford addition sub division. For those of you who are not familiar with that area, to get to it Take Stan Schlueter loop to you get to the post office turn onto Hitchrock drive and follow down to Clairidge drive turn right and the house will be the 5th house on the right. This is a very nice neighborhood located close withing minutes to Ft Hood, Metroplex hospital, airport, schools, parks, and shopping. The home was built in 2000 it is 4 sided brick it sits on .24 of an acre so it has a very nice sized backyard. The house does have a water softener, security system, separate utility room, and so much more. Call me to today to schedule a showing before it is gone (254) 291-0630
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
Sunday, August 18, 2013
The Importance Of Representation In A Real Estate Transaction
Hello Everyone This is Brad Hammarlund with Exit Homevets Realty in Killeen TX. I work with people looking to sale their homes and also with people who are looking for homes for sale in Killeen TX, homes for sale in Copperas Cove TX, homes for sale in Harker Heights TX.
Most people do not know the importance of representation. When you are represented then the Realtor® has to put your interest before anyone else including their own. The reason why you work with a Realtor® is to have someone represent you in a real estate transaction. Did you know that in the state of Texas all real estate agents represent the seller. As a buyer you are not represented until you sign a buyers representation agreement with a Realtor®. The state will let a agent work with both parties as an intermediary but you will have to sign a form saying that you are allowing them to work with both parties. This is very confusing for most people and they do not know that the agent is not looking out for their best interest. Because of this as soon as you start talking with an real estate agent they are required to give you a state form, Information About Brokerage Services. The agent is not required to explain it to you but just to give it to you. It is very important who you have represent you. You need someone who is going to explain everything to you. The real estate market is constantly changing. You need someone keeps up with your market. This way you are not overpaying for a property.
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
Most people do not know the importance of representation. When you are represented then the Realtor® has to put your interest before anyone else including their own. The reason why you work with a Realtor® is to have someone represent you in a real estate transaction. Did you know that in the state of Texas all real estate agents represent the seller. As a buyer you are not represented until you sign a buyers representation agreement with a Realtor®. The state will let a agent work with both parties as an intermediary but you will have to sign a form saying that you are allowing them to work with both parties. This is very confusing for most people and they do not know that the agent is not looking out for their best interest. Because of this as soon as you start talking with an real estate agent they are required to give you a state form, Information About Brokerage Services. The agent is not required to explain it to you but just to give it to you. It is very important who you have represent you. You need someone who is going to explain everything to you. The real estate market is constantly changing. You need someone keeps up with your market. This way you are not overpaying for a property.
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
Tuesday, August 13, 2013
First day of school 8/26/2013 Are You Ready?
Hello Everyone This is Brad Hammarlund with Exit Homevets Realty in Killeen TX. I work with people looking to sale their homes and also with people who are looking for homes for sale in Killeen TX, homes for sale in Copperas Cove TX, homes for sale in Harker Heights TX.
Just wanted to remind all the people moving into the area that school is starting up in a little less that 3 weeks from now. Tax free weekend was last weekend. Are you ready?
If you are moving in and curious about the area schools here are some helpful links for you:
Killeen Independent School District
Copperas Cove Independent School District
Lampasas Independent School District
KISD covers Killeen, Harker Heights, and Nolanville
CCISD covers most of Copperas Cove
Lampasas ISD Covers some far west parts of Copperas Cove, Kempner, and Lampasas
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
Just wanted to remind all the people moving into the area that school is starting up in a little less that 3 weeks from now. Tax free weekend was last weekend. Are you ready?
If you are moving in and curious about the area schools here are some helpful links for you:
Killeen Independent School District
Copperas Cove Independent School District
Lampasas Independent School District
KISD covers Killeen, Harker Heights, and Nolanville
CCISD covers most of Copperas Cove
Lampasas ISD Covers some far west parts of Copperas Cove, Kempner, and Lampasas
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
Wednesday, August 7, 2013
TAX FREE WEEKEND
Hello Everyone This is Brad Hammarlund with Exit Homevets Realty in Killeen TX. I work with people looking to sale their homes and also with people who are looking for homes for sale in Killeen TX, homes for sale in Copperas Cove TX, homes for sale in Harker Heights TX.
I just wanted to remind everyone that the Tax Free Weekend is approaching quickly for those looking to purchase school supplies, or needing some new clothes and shoes. This is a great way to save some money. Along with saving on the Tax you would normally pay, the retailers will be having sales to persuade you to shop at their stores.
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
I just wanted to remind everyone that the Tax Free Weekend is approaching quickly for those looking to purchase school supplies, or needing some new clothes and shoes. This is a great way to save some money. Along with saving on the Tax you would normally pay, the retailers will be having sales to persuade you to shop at their stores.
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
Thursday, August 1, 2013
New Homes -vs- Preowned Homes How to sell your home located near new construction.
Hello Everyone This is Brad Hammarlund with Exit Homevets Realty in Killeen TX. I work with people looking to sale their homes and also with people who are looking for homes for sale in Killeen TX, homes for sale in Copperas Cove TX, homes for sale in Harker Heights TX.
With more and more new homes being built in the area how is that effecting the price of your current home? This is something that is good for your property value but bad when you want to sell. With the higher price of the new homes being built this is driving up the price of existing homes in the area. The only problem is how do you persuade a buyer to chose your existing home over a brand new home? The best answer is to price it competitively. You want to do improvement to your property because as new technology and comfort are being added to new homes your home becomes dated and is no longer as appealing as a new home.
Just because new homes are selling for high prices does not mean that your home will. You need to make sure that your home is priced right so you don't make other homes look like better values. Offer a home warranty with the sale of your home this will give the buyer peace of mind, and remember the builders give warranties so you want to offer it rather than wait for a contract and try and negotiate it.
If your home is close to or located in a subdivision where there is still construction going on the new homes will out shine your home 90% of the time. It is going to be hard to sell your home it will take time. The people who view your home will also view the new homes in the area to make sure they are making the best choice for them. The builders will offer to pay closing costs, home warranty, give promotional upgrades, and offer other incentives to sell their homes, so you need to be ready to do the same.
If you are in this situation and would like more information on what steps to take to get your home sold call me (254) 291-0630 I can help you!!!!Tthrough properly marketing your home and with the correct merchandising we can make you home stand out compared to the new homes. Remember here at EXIT Homevets Realty we are Expert Real Estate Advisers and Marketing Innovators.
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
With more and more new homes being built in the area how is that effecting the price of your current home? This is something that is good for your property value but bad when you want to sell. With the higher price of the new homes being built this is driving up the price of existing homes in the area. The only problem is how do you persuade a buyer to chose your existing home over a brand new home? The best answer is to price it competitively. You want to do improvement to your property because as new technology and comfort are being added to new homes your home becomes dated and is no longer as appealing as a new home.
Just because new homes are selling for high prices does not mean that your home will. You need to make sure that your home is priced right so you don't make other homes look like better values. Offer a home warranty with the sale of your home this will give the buyer peace of mind, and remember the builders give warranties so you want to offer it rather than wait for a contract and try and negotiate it.
If your home is close to or located in a subdivision where there is still construction going on the new homes will out shine your home 90% of the time. It is going to be hard to sell your home it will take time. The people who view your home will also view the new homes in the area to make sure they are making the best choice for them. The builders will offer to pay closing costs, home warranty, give promotional upgrades, and offer other incentives to sell their homes, so you need to be ready to do the same.
If you are in this situation and would like more information on what steps to take to get your home sold call me (254) 291-0630 I can help you!!!!Tthrough properly marketing your home and with the correct merchandising we can make you home stand out compared to the new homes. Remember here at EXIT Homevets Realty we are Expert Real Estate Advisers and Marketing Innovators.
Homes for sale in the Killeen Fort Hood Area: Brad Hammarlund, Realtor, with Exit Homevets Realty in Killeen TX, Our main service area is Nolanville TX, Harker Heights TX, Killeen TX, Copperas Cove TX, Kempner TX, and Lampasas TX. At Exit Homevets Realty We are Real Estate Expert Advisers And Marketing Innovators. I am here to assist you with all of your real estate needs. Feel free to call or text anytime: (254) 291-0630
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