BUYER'S RESOURCE CENTER
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CLICK ON THE LINK BELOW TO ACCESS ALL THE BUILDERS IN THE HOUSTON AREA!
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| In today's competitive real estate market timining is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in Houston with my New Listings Notification. |
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Never Miss The Perfect Home Again!
Here's your chance to be notified of all new listings that meet your criteria, absolutely FREE! Please complete and submit the form below.
Not only will you be notified by email of all new listings that match your search criteria within our system, but your home search will also be compared against other participating agents' listings within your desired area(s). All new listings added to system that match your criteria will be emailed to you.
Note: Our home search form lets you create and save multiple Home Search profiles. You may update these profiles or cancel at anytime.
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Please enter your email below. You'll be emailed updates that match your criteria
daily. Update your criteria or cancel at any time.
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Step 1 - Enter Personal Information
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| * First Name: |
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Step 2 - Enter Search Details
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"To leave satisfied you must arrive prepared." |
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Consider this your home buyer’s toolkit. Open it up, take a look around, and if you like, start equipping yourself with the tools necessary to make your best purchase. In most businesses, knowledge equals power, and real estate is certainly no exception.
I hope you enjoy the free reports I’ve provided, and I hope you learn a little more about what it takes to make your important purchase a great one.
The real estate market in Houston is certainly volatile, and all of the information about buying a home can be overwhelming. I can help.
 When you're ready to act, contact me.
I fight on behalf of my buyers.
I negotiate the absolute best price.
I protect you.
I simplify your transaction for you as much as possible.
I look forward to working with you.
Thanks for stopping by,
Monica
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| The 2003 NAR Profile of Home Buyers and Sellers provides research results on the experiences home buyers and sellers had when purchasing or selling their home. The majority of the respondents used a REALTOR® (a member of the NATIONAL ASSOCIATION OF REALTORS®). Here's what they had to say: |
- Fifty-seven percent of home buyers reported that the most important service provided by a real estate agent is helping them find the right home.
- Nearly 86% of home buyers used a real estate agent as an important information source and to assist in the transaction
- Seventy-five percent of home buyers used a real estate agent and/or broker to complete their transaction
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| REALTORS® provide critical assistance with the home buying process. A REALTOR®: |
- Has many resources to assist you in your home search.
- Can provide objective information about each property.
- Can help you negotiate.
- Can help you determine your buying power.
- Provides guidance during the evaluation of the property.
- Can guide you through the closing process and make sure everything flows together smoothly.
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There are currently no Announcements.
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Your Agent
A successful purchase starts with the right representative. In fact, once you’ve selected the best agent to represent you, it is likely that he or she can recommend other professionals to join your team, taking more of the responsibility off of your shoulders.
Lender (Appraiser)
A bank is not just a bank. Having the right backer can be extremely important – it is your money we’re talking about after all! Make sure that your lender and financial representative is someone with whom you feel comfortable, and be wary of any lender who promises you more than you think you can reasonably afford. Your lenders may or may not require an independent appraisal, and typically will make arrangements for the appraisal themselves.
Lawyer
Your home purchase is far too important a transaction to skimp on legal representation at the risk of leaving yourself open to costly future issues. Find a lawyer who is willing to take the time to answer your questions and who specializes in real estate law.
Home Inspector
No home inspection is 100% guaranteed, but a few hundred dollars to catch a major problem now is certainly better than many thousands to correct that ‘surprise’ down the road. Ask your agent for a recommendation.
Contractor
Planning some renovations? You’re not the only one! The home renovation industry is booming, and in some markets, booking a contractor must be done months in advance (that’s a long time to go without a kitchen). Don’t let finding the right contractor slip through the cracks – planning ahead will almost certainly make your renovation smoother, and you contractor will appreciate the advance notice. | |
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Are you unsure about becoming a HOMEOWNER?
Thinking that you can't afford to BUY a home?
Are you worried about whether homebuying is a good INVESTMENT? |
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| Buying a first home can be an intimidating process. But the first step is making those first decisions: I want to own my own home; I can afford to own my own home; owning my own home makes sense for me financially and emotionally. If you are still struggling with those first decisions, here are some facts that might help you make that first step towards becoming a homeowner. |
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You Can't Afford NOT to Buy a Home!
Over the last ten years, the cost of rental housing in the U.S. has increased an average of 3 percent per year. That means that an apartment or home renting for $750 per month will cost more than $978 a month in ten years. If you rent the same home for ten years, the total amount you would pay for rent will equal $103,000! |
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| Year |
Monthly Rent |
Total Annual Rent |
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| 1 |
$750.00 |
$9,000 |
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| 2 |
772.50 |
9,270 |
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| 3 |
795.70 |
9,548 |
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| 4 |
819.60 |
9,835 |
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| 5 |
844.20 |
10,130 |
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| 6 |
869.40 |
10,433 |
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| 7 |
895.50 |
10,746 |
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| 8 |
922.50 |
11,069 |
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| 9 |
950.00 |
11,401 |
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| 10 |
978.60 |
11,743 |
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Total Rent Paid Over Ten Years |
$103,175 | |
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Tax Advantages of Owning a Home Result in Savings
None of that $103,175 is returned to you, either through savings or as an investment. Homeownership, on the other hand, has tax advantages over renting a home, and those advantages can help you save money. Unlike your monthly rent, part of your monthly mortgage payment "comes back to you" in tax savings. Here's an example:
You purchase a home that costs $110,000 (plus closing costs - expenses incurred to actually process the transaction). You finance the balance with a 30-year fixed rate mortgage at 6.5 percent interest. Your monthly payments (not including utilities, maintenance, insurance, etc.) are: |
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| Monthly Mortgage & Tax Payments |
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mortgage |
$632 |
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property tax (@1.25% tax rate*) |
115 |
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| Total Monthly Payment |
$747 |
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| tax savings per month (assuming a 30% income tax bracket) |
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mortgage interest tax deduction |
$161 |
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tax deduction for property tax |
34 |
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| Total Monthly Tax Savings |
$195 |
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| Total Monthly Cost After Tax Savings |
$552 | |
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| You actually save $195 a month by owning your own home. On a yearly basis, the savings is even more dramatic: |
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| Total Annual Costs |
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Homeowner |
Renter |
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| annual mortgage/rental/payment |
$7,584 |
$9,000 |
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| real estate taxes |
1,380 |
0 |
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| mortgage interest tax deduction |
-1,940 |
0 |
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| tax deduction for property tax |
-408 |
0 |
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| mortgage principal accumulation |
-1,116 |
0 |
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| appreciation* |
-4,950 |
0 |
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| Total Annual Cost |
$550 |
$9,000 |
| *Based on 4.5% annual appreciation rate, from the NATIONAL ASSOCIATION OF REALTORS® Median | |
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Homeownership is a Good Investment
For the majority of Americans, their home is their largest financial asset and a major player in their investment portfolio. It's a good thing, too, since stock market value has declined since 1998, while home price appreciation has increased. The NATIONAL ASSOCIATION OF REALTORS® estimates that home value rises, on average, by 4.5 percent a year. That's a steady return on investment; one's own home is a much less volatile asset than stocks, bonds or mutual funds. |
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| As an example, let's look again at that $110,000 home. Unlike your rental unit, your home should appreciate over time. Assuming a 4.5 percent appreciation rate, your home will be worth $114,950 in the second year of ownership, $120,123 in the third year of your owning it, etc. After ten years, your $110,000 home will be worth $163,470. Not only do you earn a rate of return on your original purchase price, but you also get a return on any subsequent appreciation. |
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| "Appreciating" Returns |
| Year |
Home Value |
Yearly Appreciation |
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| 1 |
$110,000 |
$4,950 |
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| 2 |
114,950 |
5,173 |
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| 3 |
120,123 |
5,406 |
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| 4 |
125,528 |
5,649 |
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| 5 |
131,777 |
5,903 |
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| 6 |
137,080 |
6,169 |
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| 7 |
143,249 |
6,446 |
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| 8 |
149,695 |
6,736 |
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| 9 |
156,431 |
6,951 |
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| 10 |
163,470 |
7,206 |
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| Total Appreciation After Ten Years |
$53,470 | |
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Homeownership Builds Wealth for Households
The Federal Tax Reserve Board estimates that homeowners have a net worth almost 36 times more than that of renters. In 2001, the median net worth for homeowners was $171,700 compared to $4,800 for renters. How do you build up your net worth? Through those "appreciating returns" on your home.
We've already seen how your $110,000 home is worth $163,470 in ten years. In addition, you are paying down the principal on your mortgage. Remember that $100,000 you borrowed at 6.5 percent over 30 years - that debt amount is decreasing every month and every year. |
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| Year |
Home Price |
Mortgage Debt |
Net Worth |
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| 1 |
$110,000 |
$100,000 |
$10,000 |
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| 2 |
114,950 |
98,786 |
16,164 |
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| 3 |
120,123 |
97,586 |
22,537 |
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| 4 |
125,528 |
96,307 |
29,221 |
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| 5 |
131,177 |
94,942 |
36,235 |
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| 6 |
137,080 |
93,486 |
43,594 |
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| 7 |
143,249 |
91,932 |
51,317 |
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| 8 |
149,695 |
90,274 |
59,421 |
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| 9 |
156,431 |
88,505 |
67,926 |
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| 10 |
163,470 |
86,617 |
76,853 |
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| After the first year, you now only owe $98,786 on a home that is worth $114,950. You have "netted" a $4,950 increase in the value of your home, plus $1,116 a year that previously you owed as part of your mortgage debt. As your debt decreases and the home value increases, you accumulate wealth from the value of your home. In addition, over this ten-year period, you will have a significantly lower after-tax payment for housing. Each year as your home appreciates and you continue to pay down your mortgage debt, you increase your own net worth. |
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Homeownership - It's NOT Just About Money
The "numbers tell the story" should ease your mind about the financial aspects of becoming a homeowner. But there are other, less monetary, benefits to homeownership. Several research studies indicate homeownership adds to the value of communities, has positive effects on children, and even contributes to increased voter participation rates. |
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There are currently no Announcements.
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