Jan 30, 2024

OPEN HOUSE Two Locations Saturday, February 3, 2024

 

OPEN HOUSE
Two Locations Saturday, February 3, 2024
292 RESERVE LN #301 ROCKPORT, TX 78382 12 pm - 3 pm
Listing No. T142957A https://myre.io/0OhqZj24Iquv
Canal front with your private boat dock in St Charles Bay Reserve. The 301 Condo-Villa offers beautiful water views and luxury living! 4 bedrooms and 3 & half baths,
127 Bismarck LN ROCKPORT, TX 78382 2 pm - 4 pm
Listing No. R142554A https://myre.io/07p2SI7y1kGe
Nestled in the The Reserve in Lamar, this stunning new construction waterfront home offers a perfect blend of luxury and tranquility. With 4 bedrooms, 3.5 bathrooms,
Call me today for details 361-727-5478(LIST)
 

 

Jan 29, 2024

Are More Homeowners Selling as Mortgage Rates Come Down?

 

If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale.

The Mortgage Rate Lock-In Effect

Over the past year, one factor that’s really limited the options for your move is how few homes were on the market. That’s because many homeowners chose to delay their plans to sell once mortgage rates went up. An article from Freddie Mac explains:

The lack of housing supply was partly driven by the rate lock-in effect. . . . With higher rates, the incentive for existing homeowners to list their property and move to a new house has greatly diminished, leaving them rate locked.”

These homeowners decided to stay put and keep their current lower mortgage rate, rather than move and take on a higher one on their next home.

Early Signs Show Those Homeowners Are Ready To Move Again

According to the latest data from Realtor.com, there were more homeowners putting their houses up for sale, known in the industry as new listings, in December 2023 compared to December 2022 (see graph below):

 


Here's why this is so significant. Typically, activity in the housing market cools down in the later months of the year as some sellers choose to delay their moves until January rolls around.

This is the first time since 2020 that we’ve seen an uptick in new listings this time of year. This could be a signal that the rate lock-in effect is easing a bit in response to lower rates.

What This Means for You

While there isn’t going to suddenly be an influx of options for your home search, it does mean more sellers may be deciding to list. According to a recent article from the Joint Center for Housing Studies (JCHS):

A reduction in interest rates could alleviate the lock-in effect and help lift homeowner mobility. Indeed, interest rates have recently declined, falling by a full percentage point from October to November 2023 . . . Further decreases would reduce the barrier to moving and give homeowners looking to sell a newfound sense of urgency . . .”

And that means you may see more homes come onto the market to give you more fresh options to choose from.

Bottom Line

As mortgage rates come down, more sellers may re-enter the market – that gives you an opportunity to find the home you’re looking for. Let’s connect so you’ve got a local expert on your side who’ll help you stay on top of the latest listings in our area.


Jan 16, 2024

NEW LISTING OPEN HOUSE 292 RESERVE LN #301, ROCKPORT, TX 78382


 

NEW LISTING OPEN HOUSE
292 RESERVE LN #301, ROCKPORT, TX 78382
Saturday, January 20, 202,4 from 11:00 am to 1:00 pm
Canal front with your private boat dock in St Charles Bay Reserve, a gated resort-like community surrounded by amazing nature and wildlife in Lamar-Rockport. The 301 Condo-Villa offers beautiful water views and luxury living! 4 bedrooms and 3 & half baths, quartz countertops. The 2nd level has 2 bedrooms and an owner's suite with a patio to enjoy the morning breeze complete with a huge spa-like full bathroom with the coastal-style vibe. The 3rd-floor bedroom would be a great home office with room for extra guests! Wood-style vinyl plank floors throughout the house and tiles in bathrooms. Community pool, a multi-BBQ area & hammocks to relax, mile-long boardwalk & lighted fishing pier with cleaning station.
Want more information? Call 361-727-5478
 
 
 

 
 
 
 

Jan 5, 2024

Achieving Your Homebuying Dreams in 2024

 Planning to buy a home in 2024

Here’s what to focus on.

Improve your credit score, plan for your down payment, get pre-approved, and decide what’s most important to you.

Let’s connect so you have expert advice on how to achieve your homebuying goals this year.

 



Jan 4, 2024

What You Need To Know About Saving for a Home in 2024

What You Need To Know About Saving for a Home in 2024




If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be. One way to ease those concerns is to make sure you understand some of the costs you may encounter up front. And to do that, always turn to trusted real estate professionals. They can help you set a plan and take a strategic look at your budget and your process before you even get started.

Here are just a few things experts say you should be thinking about.

1. Down Payment

Saving for your down payment is likely top of mind as you set out to buy a home. But do you know how much you’ll need? While every buyer’s situation is different, there’s a common misconception that putting 20% of the purchase price down is required. An article from the Mortgage Reports explains why that’s not always the case:

“The idea that you have to put 20% down on a house is a myth. . . . The right amount depends on your current savings and your home buying goals.”

To understand your options, partner with trusted real estate professionals to go over the various loan types, down payment assistance programs, and what each one requires. The more you know ahead of time, the easier the process will be.

2. Closing Costs

Make sure you also budget for closing costs, which are a collection of fees and payments made to the various parties involved in your transaction. Bankrate explains:

Closing costs are the fees you pay when finalizing a real estate transaction, whether you’re refinancing a mortgage or buying a new home. These costs can amount to 2 to 5 percent of the mortgage so it’s important to be financially prepared for this expense.”

The best way to understand what you’ll need at the closing table is to work with a trusted lender. They can provide you with answers to the questions you might have.

3. Earnest Money Deposit

If you want to cover all your bases, you can also consider saving for an earnest money deposit (EMD). An EMD is money you pay as a show of good faith when you make an offer on a house. According to Realtor.com, it’s usually between 1% and 2% of the total home price.

This deposit works like a credit. It’s not an added expense – it’s paying a portion of your costs upfront. You’re using some of the money you’ve already saved for your purchase to show the seller you’re committed and serious about buying their house. Realtor.com describes how it works as part of your sale:

It tells the real estate seller you’re in earnest as a buyer . . . Assuming that all goes well and the buyer’s good-faith offer is accepted by the seller, the earnest money funds go toward the down payment and closing costs. In effect, earnest money is just paying more of the down payment and closing costs upfront.”

Keep in mind, an EMD isn’t required, and it doesn’t guarantee your offer will be accepted. It’s important to work with a real estate advisor to understand what’s best for your situation and any specific requirements in your local area. They’ll advise you on what moves you should make so you can make the best possible decisions throughout the buying process.

Bottom Line

When buying a home, being informed about what to save for is key. Let’s connect so you’ll have an expert on your side to answer any questions you have along the way.

  It’s Time To Prepare Your House for a Spring Listing If you're thinking of  selling  your house this spring, now is the perfect  time ...