Christian Realty San Antonio

    The media hype is not always the best barometer of what is the truth, even factual.  All the talk of a “rescue” is not the whole story.  When you listen to a variety of media outlets you come across those who report there may be a 6 month to two year stretch ahead of us.

      Why write about this in a real estate blog?  Because it is necessary to know what may be in store for the economy for home owners wanting to sell  and those who want to buy.  It may get ugly before things turn around.

      The first relief we should see is monies loosen up for those who wish to borrow.  Not the borrowing of the past several years.  Strict, “you really are a good risk,” type loans.  This means start working on your credit score now.  Pay off the unsecured credit card bills.  A recent report said nearly half of the nation carries $17,000 in credit card debt.

      Find yourself a real estate agent you are comfortable with and start learning about the different types of financing available to you.  This can save you money in the long run.  Please try and stay away from a 30 or 40 year mortgage.  These really cost you much more than you will ever gain.  Go with a 15 to 2o year mortgage if you can make the payments without doing without.  Your family does come first.

      For veterans, there are programs with teh VA and some states too.  In Texas, the Texas Veteran Land Board has some great programs, so check them out.

      For home owners who wish to sell, make hay while the sun shines.  Start decluttering your home.  If there is so much stuff it makes the home look small, who wants to buy it?

      Start fixing up, without going overboard.  Remember the economy.  Home prices are soft so you are not going to get what you would have five years ago.  Read up on sales in your area so you know what to expect.  Again, ask your real estate agent.

      Paint is the least expensive improvement there is.  Use neutral tones.  Go easy with super-bright colors as they tend to turn folks off.  Same with real dark ones.  Also, look at your curb appeal.  If you can’t get them in the front door, your home will not sell.  Kitchens and bathrooms sell homes.  Make upgrades within your budget.  Do not go overboard.

      Plant landscape items now so they look healthy and established when you put your home on the market.  Have a professional trim your trees if necessary. 

      For buyers and sellers, the next few years will be a challenge.  If you keep this thought in mind, it will be much easier to sell or buy.

       Call me at (210) 273-9082 with any questions, as always, without obligation.    

      This may seem cold given the current economic debacle we are experiencing on Wall Street.  However, the facts are the facts.  Now is the time smart investors are making their move in real estate.

      San Antonio has over 13,000 properties available.  This is a large number for the local market and reflects what is happening in other areas of the nation.  The difference is the price points.

      San Antonio had not seen the over-inflated prices other markets have in the past several years.  That and the strength of the Texas economy compared to the rest of the nation, make San Antonio a prime location for investors to make some great deals in real estate.  Our market is a strong buyers market with many great deals just waiting for the right investor to come along.  Why invest now?

      Because money is tight and even folks with good credit may find it difficult to buy now, the price of rentals will increase.  Folks who cannot buy, rent.  This means the demand for rentals will increase.  With an increase in demand, any investments in rental properties will see a good return on investment (ROI).  So investors looking for a strong market with plenty of available houses to choose from, need look no farther than San Antonio.

      Another opportunity for those relocating is the AT&T headquarters move from San Antonio to Dallas.  There are approximately 400 high-end homes on the market.  This is good.  Keeps the prices lower than normal and some more great deals to be made.

      Please call (210) 273-9082 with any questions, as always, without obligation.

      The Texas Veterans Land Board (VLB) will be holding a free Benefits Fair on September 20, 2008 at the Live Oak Civic Center, 8101 Pat Booker Road, Live Oak, TX 78233.  This free event is from 1000-1300 (come and go). 

      Representatives from the VLB, the Texas Veterans Commission, US Department of Veterans Affairs (VA), the Small Business Administration and the Social Security Administration will be present to answer your questions, concerns and claims.

      Learn more about home loans, land loans, home improvement loans, state veteran homes and cemeteries, employment benefits, disability and pension claims and education benefits.

      You will also be able to visit with mortgage lenders, real estate agents and veteran support organizations from our area.

      While I will not be present, you may contact me with any questions you have regarding real estate, without obligation. 

      Please share this information with all of our fellow veterans.

      Other free Benefits Fairs are scheduled for El Paso, Corpus Christi and Pharr.

      Call me at (210) 273-9082 with any questions, as always, without obligation.

    The Texas Residential Construction Committee has adopted new rules governing the inspection of new home construction for those areas outside of municipalities and therefore, outside of their jurisdiction for building codes.  This is great news for home buyers in Texas.

    CHAPTER 307, SECTIONS 307.1 – 307.7, RELATING TO INSPECTIONS OF HOMES IN AREAS WITHOUT MUNICIPAL INSPECTIONS  directs inspections by licensed inspectors and parameters to be followed, along with punitive action if these requirements are not met. 

    This could be a long post if my goal was to bore my readers to tears.  Given the entire Order of Adoption is linked in this blog article (above), there is no need to drone on.  

   Suffice it to say, home owners are now given more assurance their home is built properly with less value engineering by builders. 

    Builders, some of whom participated in the public process and contributed comments on the language and logic of these changes, may not be too happy with the additional administration and oversight.

    All in all, this is something community leaders and Texas county commissioners have been discussing for years.  Some substandard homes have been built “in the county” where building codes did not apply, to the detriment of the home owners.

    Call me at (210) 273-9082 with any questions, as always, without obligation.

    An article in the San Antonio Express-News today announced insurance giant USAA has opened up their eligibility requirements to allow millions of military veterans and their families to become members.

    At the face of it, this may not sound like great news.  However, it really is!  This is an opportunity for millions of military veterans to join one of the largest insurance and banking institutions and received a miriade of benefits.  Once they become members, their family members become eligible too.

    As an aside, when I was a young enlisted man in Germany many years ago, enlisted members were paying more for car insurance than their vehicles were worth.  At the same time, military officers were able to carry stateside rates on their vehicles insured by USAA.  At that time my hopes were for USAA to open their eligibility up to enlisted members.

    Fast forward to the mid-1990s.  USAA opens their eligibility up to senior enlisted personnel.  Yes, my aapplication was one of the first to be submitted as my assignment at the time was San Antonio, home and birth place of USAA.  My desire was more for my children to reap the benefits of membership than for myself.

    Why is this important enough to write about in a real estate blog?  Because USAA bundles their policies for members and reduces rates.  So if you are a member and have your car(s), truck(s) boat and/or home insured by USAA, rates are reduced.  This saves you money. 

    Please contact USAA today either through their web site or by calling 1-800-531-8722 today.  See if you are eligible and if you will save money on your insurance policies.

    USAA has other financial and banking services available, however this blog piece is not a plug for USAA.  It is to serve as a notice to my fellow military veterans out there to check it out for themselves.  Remember, this is for veterans, not just retirees.

    USAA also has a full-service real estate office and can handle a complete transaction in-house.  Not a plug for sure, as my office is in San Antonio and USAA is a competitor.  Just letting you all know of the value added by being a member.

    Call me at (210) 273-9082 with any questions, as always, without obligation.

    So the market has you down and you have decided not to sell your home.  OK fine.  Free country and all that.  So what are you doing? 

    No, this is not a quiz.  This is for real.  Just what are you doing?  Sitting at home, fretting about the housing market?  Exasperated with your situation, not being able to sell like you wanted? 

    Look on the bright side.  You are not one of the many unfortunates who are caught up in the housing debacle and are losing their homes.  You are sitting in yours and still you are not happy.  Go figure.

    Some folks of late have said to me they could not sell now because they would lose money.  Poppycock!  What they meant to say was, if they sell now, they will not make as much profit as they wanted to.  Ahhh, now I get it.

    Anyway, what are you doing, now the decision is made not to sell, whatever your reasoning?  Do you know what you should be doing in the interim between your frustration and the anxiety of having your home on the market?  Put a shine on the apple!!

    Now is the time to fix up, touch up, replace, refurbish, repaint and do all the general stuff you have put off for far too long.  Then when the time is right again (in your mind) to sell, you will be ready.  Your home will out-shine all the others and sell faster and for a better price.

    If you are like me and live in Texas, your garage does not protect your vehicles from the elements.  It is a storage facility.  Now is the time to have a good house cleaning party and get rid of the extra stuff we all collect over the years.

    A yard sale could not come at a better time, considering the economy.  Many folks cannot afford to buy new and are out there looking for bargins.  Put all your bargins out on the front lawn and have at it.  Clutter kills home sales every day.

    What you do not sell, donate.  Please.  There are many deserving charities who are feeling the economy pinch too.  They need your help.  So donate some items and feel good about helping others.

    In the Fall or Spring, depending on your location, hit the yard hard!  Plant new items, get rid of old, gnarly ones and bring the curb appeal up a notch. This is one item many overlook.  The lack of curb appeal kills many a sale.

    Small items in a home, when buyers walk through do get noticed.  Replace the faucets.  Replace the light switch panels, the electrical outlet covers and all the same color please.  Nothing worse than some who believe color coordinated switch plates and outlet covers add a level of ambiance to any decor.  Yuck!

    Alittle more expensive is replacing the ceiling fans.  Yes, I know they were top-of-the-line and the top decorator choice 15-20 years ago.  They look it too.  As a buyers agent, many clients have commented on the “nice ceiling fans” throughout a home.

    Paint is the least expensive item to discuss.  If you have no sense of decor, then ask someone who does.  Neutral colors only please.  It is hard to keep a perspective buyer from running out of a glaring red dining room because it is so loud, trying to convince them one gallon of paint will fix it.  Besides, who said a red dining room was “in vogue” anyway?

    Call all your favorite service providers to come and give your home a once-over.  HVAC, plumbing, roofer, irrigator (sprinkler guy) and landscaper.  Do it now.  When you decide it is time to go on the market, you will be glad to have got ahead of the curve.

    So once again, what are you doing while awaiting a rebound in the housing market?

    Call me at (210) 273-9082 with any question, without obligation.

    We have a saying in real estate that goes something like ” PITI…pity we all have to pay off our mortgage.”  Trouble is, if you are not in real estate, the joke is lost.

   PITI stands for Principal, Interest, Taxes and Insurance.  When you say “mortgage payment” you refer to PITI.  It is the whole enchilada as they say.

        Principal refers to the money your borrowed.  Interest is the amount per month you agreed to pay on the outstanding balance of the loan.  Taxes are whatever the local government says you must pay each year for your property.  Finally, insurance is the home owner insurance you must carry while there is a mortgage on the property.

    The PITIfor your particular purchase should not be more than 28% of a borrower’s gross monthly income.  If more, then you probably cannot afford the home or the loan or both.  Remember, owning a home is more than a mortgage payment.  Maintenance and upkeep take your dollars too!

    Sad to say, there have been some who tell new home buyers their mortgage will be X dollars per month.  It is a great deal, isn’t it?  Nope!  It is just the PI.  They leave off the TI to be dealt with at a later date….by you!  A mortgage is always PITI.

    In the case of the “too good to be true” monthly mortgage payment, the letter will arrive in the mail soon enough to burst your bubble.  The original lender sells your mortgage to another lender.  They review the payment and see you are not paying the TI.  They send you “the letter” informing you they need $XXXX.XX immediately.  Also, they inform you your new monthly payment is several hundreds of dollars more, to adjust for the TI.  OUCH!!

    Many have fallen into this situation and have to see their home.  They are over the 28% mentioned earlier.  It is always buyer beware and another reason to use a real estate professional when you purchase a home.

    You may believe you do not need to place your PI in escrow each month and you will pay the taxes when dues, along with the insurance.  Yeah, right.  Please, do not fool yourself.  There are only a few who are wealthy enough to be able to pay TI annually.

    Another point to mention is, the government can and will foreclose on your property for failure to pay taxes.  Your mortgage company will also demand you carry insurance as your contract states or they will demand payment of the loan–right now.  Failure at either may result in the mortgage company foreclosing on your property.

    This is a pretty hard lesson for some to learn.  My hope is you are now more knowledgable and have a firm understanding of why it is a PITI we all have to pay a monthly mortgage.

    Call me at (210) 273-9082 with any questions, as always, without obligation.

    The Texas Veterans Land Board (VLB) is a tremendous benefit for Texas veterans.  It seems to not get enough reach to eligible Texas veterans.  All veterans looking to purchase a home or land need to see if any VLB programs will benefit you.  Eligibility requirements can be found on their web site at http://www.glo.state.tx.us/vlb/ . 

    From the days of the Texas Republic, Texas has given veterans land in recognition of their military service.  In the days of Sam Houston, that debt for service was paid to Texas veterans in grants of land.  Following World War II, this tradition was continued with the creation of the Texas Veterans Land Board (VLB) in 1946, to administer a new program which would provide low-interest, long-term loans to Texas veterans for the purchase of land.

    Since it inception, more than 120,000 Texas veterans have taken advantage of this self-supporting program without costing the taxpayers a single penny.  In 1983, the Legislature created the Veterans Housing Assistance Program to assist Texas veterans in purchasing a home.  In 1986, the VLB expanded the Veterans Housing Assistance Program, adding the Veterans Home Improvement Program to provide below-market interest rates to qualified Texas veterans for home repairs and improvements to their existing homes.  

       The program has a weekly interest rate.  You can view the  current interest rate here.  There are discount points for years of service, era of service and disabilities, all of which reduce the rate for the qualifying veteran.   

    The VLB also maintains and is planning to construct additional Veteran Homes.  On May 3, 2004, by Executive Action, the Texas Veterans Land Board designated a formal name for the state veterans’ home program. The program is now named The David A. Gloier Texas State Veterans Home Program, in recognition of the late David A. Gloier, Executive Secretary of the Veterans Land Board from 1993 to 2001. Mr. Gloier was instrumental in the implementation of the state veterans’ home program guiding it through the legislative process and oversight in the construction and operation of the first four homes in Temple, Floresville, Bonham and Big Spring. 

    House Bill 310 passed by the Legislature in May 2001, authorized the creation of up to seven state veterans’ cemeteries for veterans and their eligible dependents.  Two sites were initially identified for development:  Killeen in Bell County and Central Texas; and Mission in Hildalgo County and South Texas.  On June 26, 2003, the VLB formally named the Killeen site for the geographic are in which it will honor Texas veterans.  The Killeen site is named the Central Texas State Veterans Cemetery.  The VLB also used the geographical region when naming the Mission site as the Rio Grande Valley State Veterans Cemetery.     

       Outreach offices are maintained throughout the state.  Check here for the office nearest you. To contact the VLB within Texas: 1-800-252-VETS (8387).  By mail:

                         Texas Veterans Land Board
                         P.O. Box 12873
                         Austin, Texas 78711-2873    

    By email: vlbinfo@glo.state.tx.us     

Call me at (210) 273-9082 with any questions, without obligation.

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DISCLAIMER:  Links provided are for the benefit of visitors to this blog.  Inclusion herein in no way constitutes endorsement of any kind by the author or Christian Realty San Antonio.  Consumers are cautioned to seek professional advice when making financial decisions.

Some information for this blog was used from the Texas Veterans Land Board website at http://www.glo.state.tx.us/vlb/

    You love to hate ‘em…home inspectors that is.  They are a somewhat strange group of professionals here in Texas and throughout the country.  Many real estate blog entries either praise them or … .  They provide a service to both the buyer and seller in a home transaction.

    An inspector works for the buyer.  Not the buyer’s agent.  The buyer!  I was at an inspection once where the inspector, somewhat peeved at the seller’s agent who was asking too many questions, reminded the agent he worked for the buyers.  And this is a great tool to have when buying a home.  A professional, licensed by the state (here in Texas anyway) who is looking out for your best interests.

    While an inspector is only in the home a few hours, their job is to make sure the years you spend there are as enjoyable as possible.  Sure, they will always find somethingto put in there report.  It is expected.  However, when they find a big problem, usually unknown to the sllers, they are worth their weight in gold!

    Many folks do not even consider a home inspection when they are buying a newly built home.  Big mistake!  A new home has problems sometimes too.  Sometimes they have big problems.  A home inspection gives the buyer a better sense of the quality in the home and some security there will be no surprises in the future.

    As mentioned, here in Texas home inspectors are licensed by the State of Texas.  The Texas Association of Real Estate Inspectors (TAREI)  (http://www.tarei.com/i4a/pages/index.cfm?pageid=1) are the group to seek out on the Internet for a local inspector near you.  As a rule you will not get a recommendation from me as to who you should hire.  Rather, you get a list of inspectors here in San Antonio and you choose.  This keeps me out of the line of fire if the inspector misses something or you just plain don’t cotton up to ‘em.

    Call me at (210) 273-9082 with any question, without obligation.

    Many times working with a client, real estate agents use words or phrases foreign to them.  It has nothing to do with trying to impress or sounding professional or highly educated.  It is our lingo.  We have many words and phrases which are foreign to most folks because they are not used in common daily language.  One of these is fiduciary.  First, from a dictionary:

fi·du·cia·ry
Pronunciation: f&-’dü-sh&-rE, -’dyü-, -shE-”er-E
Function: noun
Inflected Form: plural -ries
: one often in a position of authority who obligates himself or herself to act on behalf of another (as in managing money or property) and assumes a duty to act in good faith and with care, candor, and loyalty in fulfilling the obligation : one (as an agent) having a fiduciary duty to another.  [fiduciary. Dictionary.com. Merriam-Webster’s Dictionary of Law. Merriam-Webster, Inc. http://dictionary.reference.com/browse/fiduciary (accessed: July 06, 2008).]

    As real estate agents we are placed in a position of trust with our clients.  We are expected to act on their behalf in a real estate transaction.  Everyhting we do is in the best interests of the client.  We are not to take any action with consideration of how it will impact our end outcome in the transaction, meaning more or less commission.  If it benefits the client (and is legal) then it is the proper action to take.

    It really is a direct statement of action, being a fiduciary or having fiduciary responsibilities.  The issue is one of professionalism and ethics. 

    When you hire a real estate agent, either as a buyer or a seller, you have an individual who is to be: obedient, loyal, discloses information to you, confidential with information about you, accountable to you for all monies handled and act on your behalf with reasonable care and diligence.  A whole lot for you, as their client.

    Contact me with any questions at (210) 273-9082, without obligation.