Experts say that when the economy recovers, don’t expect things to be the same. The housing and job markets are changing. So are key industries – from real estate and lending, to energy, automobiles and healthcare. Government regulations and tax laws may also be changing in major ways. The bottom line? The one thing that’s certain is change! So the big question is: How should we handle change – not just to get through it, but to come out a winner!

1. Change is nothing new. From growing up, to making friends, to expanding career paths, everyone’s life story is one of change. The same is true of virtually all industries, thanks to developing markets, growing populations and advancing technologies. Of course, the more changes we experience in a short time period, the bigger they seem.
2. Change can be complex. Changes can happen at the same time in multiple areas, such as how we conduct our business, the tools we employ, the processes we follow. When many things change at the same time, the situation quickly gets complex.
3. Change can be confusing. Not surprisingly, complexity can create confusion. Bewildered by all the changes, we conclude there’s nothing we can do. Not true! All of us CAN master new products, services or skills – AND find the right path to take us forward. The key is to deal with each change on its own, starting with the easiest.
4. Change still leaves you plenty of choice. In an evolving scenario. there are always options and alternatives. Every challenge has more than one solution. You just need to commit to finding it, focus on the task, take the time you need and then – take action! Failure usually comes from barriers we impose on ourselves.
5. Change does demand courage. In the face of change, it pays to be brave. Instead of trying to avoid change – embrace it! Figure out how change can work for you. Find something you’re doing now that you can take into the future. Build on what you know, adding new knowledge and skill sets. Look to expand you horizons. Champion innovation – and instead of fighting change, use it to help shape the future!

Follow these ideas and you’ll stay well ahead of the ever-changing business environment.

… Have a great month!

Lately, I have been getting a lot of questions in regards to the eligibility of the $8000 tax credit, so this blog is to help answer some of those questions.

According to the National Association of Home Builders, in order to be considered a first time home buyer, you must have purchased a home from January 1st to December 1st of this year to qualify for the tax credit.  However, there is an exception for those that have owned before and that exception is that you must not have owned a home in the last 3 years. Also, those that qualify for the tax credit must have a modified adjusted gross income of less than $95,000 for single tax payers and $170,000 for married tax payers. If you meet any of the above requirements then you are eligible for the tax credit.

Your next step would be to file an IRS form 5405 determine the amount of your tax credit and then to put that amount in the 1040 IRS tax return on line 69. Be sure that the purchase of the home is complete before you make the claim otherwise it will not go through. If you have any other questions regarding the tax credit then let me know.

In one of my past blogs I mentioned the closing process. Once again once you submit an offer to purchase a home and that offer is then accepted, then you begin preparing to close. Usually it takes an average of at least 30 days to close on a home.

The first part of this process begins with the option period. This is about at 10 to 15 day period for the buyer to have inspections, survey, and/or appraisals to make sure the home is in good condition and priced right. During this time the buyer is allowed to withdraw from the contract without major penalty if any problems arise.

Another important aspect of the option period is the earnest money deposit and title commitment. Earnest money is basically to show how serious a buyer is and is usually put toward closing costs. The title commitment is assigned after the contract has been signed and receipted by a title company. The title commitment will list any facts, disclosures, issues and notifications, some of which may need to be addressed prior to close.

Once all issues are resolved then a closing date is set. On this date, the closing agent from preferred title company meets with both agents and clients to complete transfer of possession. This marks the end of the closing process. The good news is that you will not have to memorize this process. It is up to the real estate professionals and Title Company to guide you through this and make the home buying process go as smooth as possible.

Lately we have begun to see a wave of foreclosed homes hit the Boerne market and both investors and potential homeowners are jumping in. No matter which way you look at it, buying a home in Boerne is a serious venture and if you’re not careful you will have your hands full.

First tip when buying a foreclosed home in Boerne is to know your budget.  Most foreclosed homes require repairs and these must be fixed before the house is rented. Make sure you will be able to afford the rent while making these repairs or in case you cannot find a tenant. Knowing your limits will allow you to make an accurate decision when buying a foreclosed home in Boerne.

Next, you should never buy a home without looking at it. Even if you can’t, talk to someone that will. Do not be afraid to pay for an inspection. Even though this may cost you more money, it will be worth it in the long run. With an inspection you will know what it is that you’re getting yourself into and should lead to no surprises.

Make sure to check out the neighborhood in Boerne as well. If you find a good deal on a house it doesn’t necessarily mean that you will profit from it later on when the market turns around especially if the house is in a high crime neighborhood.  Even widespread foreclosures can depreciate the value of your house so be careful to assess the neighborhood before you buy.

All in all, buying a foreclosure in Boerne can benefit you as long as you take these special precautions before you buy. These tips are to enable you to be confident as well as knowledgeable when you go to make your purchase in Boerne. When you are knowledgeable you make better decisions. Hope these tips help and Good Luck!

This blog is for those who fall into the category of first time home buyers in Boerne. First off, make sure you give yourself plenty of time to look for a house in Boerne. Being a first time home buyer is a big deal and it should not be something to rush into. With patience you often will find better deals as well as get more of what you are looking for. I usually tell Boerne first time home buyers to never settle for less because this might lead to buying a home that requires repairs that you may not have been initially aware of.

Another reason why first time home buyers should allow for plenty of time is due to the fact that once you find a home in Boerne; it usually takes about 30 days to close before you can move in. Some Boerne first time home buyers do not take this in to consideration and it ends up creating more stress for those that have a strict time limit as to when they need to be in a house. So taking the extra time to find a home in Boerne that is right for you will eliminate stress and also pay off in the long run.

So with that in mind, the next step is to get pre-approved, which will let first time home buyers know what they can afford in Boerne. Once they know that information, then they are ready to start looking. First time home buyers need to make note of what it is they want in a home as well as where they want to live in Boerne. This will help to narrow down their search so they are not wasting their time looking at houses that are considered not suitable.

All first time home buyers have to do is start searching, which of course is the fun part. Once they find their dream home in Boerne, there will be more steps involved which I will explain to you in a later blog. So until then good luck and let me know if you have any questions.

With being a Realtor in Boerne, I often run into many questions. The most frequent question I get is “Why is now the time to buy in Boerne?” There are many different approaches to answering this question but I feel the most valid way of answering this question is referring to the mortgage rates that are being made available to the public of Boerne.

When Boerne mortgage rates are low, more money is spent toward to principle rather than paid to the bank for the money that you are borrowing. Low mortgage rates also mean lower payments. For example, having a loan 30 year loan at 4.5% fixed interest rate on a home that cost $ 135,000 may give you a payment of $740.28 while having the same loan with an mortgage rate of 6.0% will raise your payment to $865.64. That is about another $125 out of your pocket per month that you will be spending on interest. That adds up to about $1500 per year that will be spent on interest. That’s $1500 that will not go toward your principle and more money that you will have to come up with. So as you can see, locking in at a decent mortgage rate is important in Boerne.

Most Boerne mortgage companies are offering about 4.5% mortgage rate for those with credit scores of around 620. For those below a 620 are (on average) locking in at around 5.0-5.5% mortgage rates. So because mortgage rates are so low, now is a good time to buy in Boerne because you will be saving money. If you wait, then chances are mortgage rates may go up and then you may be spending an extra $1500 per year and for most people that is not ideal.

In my recent blog post, I went on to explain how helpful the MLS is to Boerne Buyer’s and Seller’s, but I didn’t mention how useful MLS is to Boerne Realtors as well. This blog is to better explain MLS and its uses so that those interested can better understand its importance.

Having access to MLS provides Boerne Realtors with many different tools in order to better serve their clients. The most popular tool is generally the Comparative Market Analysis of the MLS which is better known as a CMA report. The CMA report allows Realtors to help a Boerne seller determine what they should list their house for, or even help a Boerne buyer decide if a house of interest is priced accordingly which in return will lead to further action. In a Comparative Market Analysis, the Realtor compares the subject property (home of interest) to other Boerne homes of similar features in the neighborhood that have recently sold. This will provide feedback to not only Boerne sellers to keep them from over or under pricing their home, but also to buyer’s to prevent them from buying a Boerne home that is priced above Market value. Due to these reasons, a CMA report from the MLS is used frequently in the world of Real Estate and it is important that buyer and sellers to be aware of this.

Another tool used in MLS is the Market Survey. Realtor’s mostly use this to determine the average sold price or average days on market of Boerne homes in a particular neighborhood/area. This is good to know for those that plan on relocating to a certain Boerne area because it gives them an idea of what to expect. Market Survey reports of the MLS also include average listing price of Boerne homes in the area as well as the mode, median, ‘minimum, and maximum sold prices. Generally using the average sold price is recommended, but I prefer using the modal sold price for it tends to be more accurate because it gives you the most occurring sold price of a Boerne area rather than the mean. I will touch base more on the importance of knowing the difference between mean, median, and mode when dealing with prices of homes in a later blog.

The CMA and Market Survey reports are just two small examples of what the MLS is capable of doing. Of course there is plenty more to learn about the MLS so I will include more blogs regarding those topics at a later time. So until then feel free to search the links below to find out more on the Multiple Listing Service (MLS).

With being a Realtor, you have the advantage of being able to utilize on the Multiple Listing Service (MLS). Most people do not realize just how helpful the MLS really is.

From a Buyer’s perspective it is most beneficial to work with a Boerne Realtor because the MLS has all of the homes listed in the Boerne area of preference right at your fingertips. You can narrow a search in order to pinpoint exactly what you are looking for (1-story/2-story, Sqft, acreage). This is not only convenient, but also saves you tremendous amount of time.

From a Seller’s perspective, the MLS is a great tool because you will be able to better market your home in Boerne. Realtor’s from both near and surrounding Boerne areas will be able to view as well as show your home to prospective Buyer’s. One of the keys to selling your home is making it be known. Marketing your own Boerne home can cost you more money than you would prefer to spend as well as take up a lot of your time. Using MLS to market your Boerne home is the best approach to selling your home for it not only saves you time and money but also gives you the best marketability.