Today's Realtor Ivory Brown

When it comes to home-equity lending, Texas has some of the most conservative homeowner protections in the country. Key among these provisions is the requirement stipulating a home-equity loan may not exceed 80% of the market value of the homestead (80% LTV). Such laws allow ample access to capital while at the same time ensuring homeowners do not incur excessive debt. These legal measures helped insulate Texas from the recession that followed the 2008 housing bubble. What does this mean for the real estate industry? Some states allow for home-equity loans upward of 120% loan-to-value (LTV), creating a situation where homeowners become instantly upside down because they owe more to the bank than their homes are worth. When real estate values dipped in these states, many homeowners walked away from their obligation. Foreclosures hurt the overall real estate market and lower home values. The current law allows property owners ample access to the built-up equity in their home. ...

Texas has been a dominant force in the national economy, and the states’ housing affordability has been a contributing factor. But the increase in property taxes threatens this affordability. Texas REALTORS® are on the front lines to defend against increasing property taxes, attempts to tax real estate purchases, real estate transfer fees, and other efforts to add costs to buying, selling, or owning property. According to the Houston Chronicle, “… the lack of affordable housing is being viewed as a crisis that affects Americans of all ages, races and income groups.” The Texas Association of REALTORS® supports various measures to ensure a more transparent and honest conversation occurs at the local level. These measures include supporting: The reduction of the rollback rate from 8% to a lower percent, with support contingent on ensuring the new rollback rate is not an automatic property tax increase for property owners; An automatic tax ratification election if the rollback rate is ...

Know Your Market Just as you perform due diligence on a property and its condition, you should do your homework on the area’s rental market to determine the demand for your property and the rent you charge. Polish Your People Skills Successful landlords find good tenants and retain them. Get Some Digits Maybe you can handle annual touch-up work on your property, but unless you’re well-versed in HVAC systems and your city’s plumbing and electric codes, you’ll need phone numbers for reliable repairmen. Protect Yourself and Your Investment The insurance coverage you need as a landlord is different than what you have as a homeowner. Contact your insurance agent to make sure you’re covered. Another Option For You Many REALTORS® specialize in property management and can take care of related duties including handling leases, managing funds and screening applicants. Find a REALTOR®

Set a Price If you ask too much, you may not find a buyer. If you price the home too low, you’ll cheat yourself out of money. Websites with quickie value estimators aren’t the way to determine the value of your home. Go to the only people with the data and the expertise to accurately read your market: REALTORS®. Market Your Property In preparing your home for viewing by prospective buyers, remember that people buy on emotions. Your home has to feel right or buyers will look elsewhere. Look at your home objectively and listen to suggestions from your agent about ways to make your home more appealing, such as cleaning, decluttering, removing personal items, making cosmetic repairs, etc. Consider Your Options When a buyer makes an offer, what do you do? Your REALTOR® will help you review it. If you’re lucky enough to have more than one offer, he or she will discuss your options to do what’s best for you. Once an offer is accepted by you and the buyers, the buyers will perform...

Decide What You Wan t Before you start looking, make a list of what you want and assign each item a priority. Some areas to consider are the location,type of home, and age of the home. Know What You Can Afford Most loans require a downpayment. The amount varies, but 20% of the purchase price is typical. If you’re a first-time buyer or fall below certain income thresholds, you may qualify for affordable-housing programs . Generally, a higher downpayment means better loan terms and a lower interest expense on the mortgage. Qualifying for a loan: A lender will determine how much he thinks you can afford based on your income, employment history, education, assets (e.g., bank account balances, other property, insurance policies, pension funds), and debt. Check your credit report before the lender does to clear up any problems. Your comfort level: You don’t have to spend $200,000 on a home just because the lender says you can afford a $200,000 home. Do some math an...

Why an instant offer may not be best for you Getting a cash bid for your home after going to a website and inputting basic information sounds easy and stress-free but there can be downsides to “instant offer” services. Instant offers may benefit investors more than you.  Investors who would buy your property want to make a profit. Some even intend to find a buyer willing to pay more right away. Why sell to an investor for less money than you could get otherwise. THE OFFERS MAY NOT BE BASED ON ACCURATE DATA  These services sometimes use incomplete, misleading information. Texas REALTORS®, however, have access to true market comparisons and pricing data.  Have you done any of the following?  Replaced bathroom fixtures  Installed new floors  Installed new kitchen  countertops  Replaced HVAC systems  “Instant offers” may not take those improvements into account. You need a thorough, in-person estimate of your...

Where do home renovation myths start? Maybe in the aisles of your local hardware store or parking lot of the lumber yard. They get traded back and forth and whispered to people who may actually believe the tall tales—until they find themselves sitting under a pile of splintered wood and drywall dust. To spare you from deciphering fact from fiction, we're here to set the record straight: Here are some home improvement myths you can stop believing right now. It's time to get real when it comes to what's really in store when you decide to embark on a little remodeling. 1 . 'Whatever money I spend on upgrades I'll get back when I sell' There's a common misconception among homeowners that they can add the full cost of any improvement to the price tag of their home when it's time to sell. "We'll hear things like, 'I spent $10,000 finishing the basement, so I should be able to add that to the asking price,'" says Cedric...

It is my mission to serve all of my clients (buyers and sellers) with the highest level of professionalism, personal service, competence, and technical representation. I value God, Family, and Business. As your Realtor, I will uphold and enforce the highest ethical standards governed by the Texas Real Estate Commission (TREC).  I specialize in the Houston market, selling luxury homes, and new construction, residential resale and commercial real estate. I offer a wide range of real estate services from large to small. I have 17 years of banking experience; which allows me to have a deeper understanding of the closing process.  Home Ownership matters…to people, to communities, and to America. Why? • For every two homes sold, one job is created in the U.S. • Each purchase generates as much as $60,000 in economic activity over time. more... Buying is now cheaper than renting in 74 percent of the nation’s largest cities. Low home prices and “rock-bottom” interest...

Contracts commonly used in Texas home sales state that the house fixtures, improvements, and accessories are part of the sale. Here are examples of what stays and goes. Items that Typically Goes With The Seller Table Lamp Television Potted Plant Bed Couch Dining Room Table  Area Rug Lawn Mower Hammock Patio Grill Bookcase Washer and Dryer Paintings and Decorations Sellers If you want to exclude items from the sale - a dining room chandelier, for example - the contract includes a place for that. Have you Realtor help you properly document your intent. *There may be exceptions* Certain times stay or go depending on whether they’re permanently installed and built-in. Freestanding clothes washers and dryers go with the seller, but built-in units would likely stay. A grill on wheels on the patio leaves, but one that’s encased in stone as part of outdoor kitchen stays put. Three factors determine if something is permanently installed and b...

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Zoning : Zoning laws are found in virtually every municipality in the United States, affecting land use, lot size, building heights, density, setbacks, and other aspects of property use.

FHA Programs : The FHA single-family mortgage program has played an important and vital role in the mortgage marketplace. The program has a public purpose obligation to provide mortgage insurance to American families who choose FHA to meet their homeownership needs. Increasing the capacity of FHA will insure it is a viable product for homebuyers and expands the pool of safe affordable loan products.

Your clients depend on you for education and guidance from your first meeting until a sale closes. You can reinforce your value and show your real estate expertise by offering objective information and informed opinions about local market conditions, being knowledgeable about the latest home trends and technologies, and understanding community issues. The buyers and sellers you work with expect honest and ethical treatment throughout the course of your business dealings.