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Maximize Your Home Equity
Maximize your home equity with a cash-out home equity refinance loan. As a homeowner, your home holds a value that grows over time. There are times when your home equity is a financial advantage that you can maximize for your benefit. Using a Cash-Out Refinance loan to access the equity in your home can be the first step to a better financial strategy: How can you maximize your home equity? When you have a goal in mind that requires funding, you should take a close look at the options you have for getting the cash you need to accomplish your goal. Credit cards, personal loans, store credit, student loans, lines of credit, business loans, or a cash-out home equity loan could be potential financing options to consider. Many of these types of financing come with higher interest rates, which means that you will pay more to borrow those funds. However, a cash-out home equity loan is different from the other financing options in a few ways. So what are some of the best ways you can maximize your home equity? Let’s look at three ways you can make the most of your home equity. 1. Home Improvements or Renovation Making
Buying a Home in 2023
If you are planning to buy a home in 2023, there are some unique market factors to consider this year. You will also find that organization and financial preparedness, will make your experience significantly easier. Let’s talk about the 2023 housing market outlook for Texas home buyers and what you can do to be better prepared: Market Outlook: Buying a Home In 2023 The housing market has seen tremendous changes in the last few years. After the rapid rise in home prices, lower interest rates, and frenzied competition in 2021, the housing market saw an unsustainable level of growth. Seeing a need for correction, the FED slowed down the rate of inflation with a scheduled series of interest rate increases in 2022. Finally, in the last quarter of 2022, home prices began a gradual decline. Homes were staying on the market longer and home buyers enjoyed more negotiating power in the market. While we cannot predict exactly how the housing market will adjust during this time of re-balancing. We know that buying a home in 2023 is a unique time for potential buyers. During the time this article is being published, some home buyers are using the current “buyer’s market”
Texas Housing Market Report for Home Buyers
Texas Housing Market Report for Home Buyers | Updated December 2022 If you are thinking about buying a home, looking into the current Texas housing market conditions can be beneficial. Knowledge is an asset to home buyers. This report can give you a look at the current trends and market predictions to help you make informed decisions. Expect data from recent home sales within our state and an analysis of market conditions for mortgage interest rates in this Texas housing market report. An overview of the outlook as a potential home buyer could help you assess the value of real estate as an investment in the current market. Data Report for the Texas Housing Market In November of 2022, the median home price in Texas was reported at $330,000. This is a $5,000 drop in comparison to the median home price reported in October. Additionally to the median home price falling by nearly 1.5%, the total number of home sales was lower in the month of November. A total of 22,983 home sales were reported in November compared to the 26,105 home sales in Texas reported in the month of October. The inventory of homes on the market decreased in
Negotiating in a Buyer’s Market: Home Buyer Guide
What are the advantages you have in a buyer’s market, and how can you get the best deal possible? Just last year we posted an article about “Competing in a Seller’s Market”, but since then some big changes have happened. We have seen a shift in the real estate market, giving the negotiating advantage to home buyers. In the 3rd and 4th quarters of 2022, we have begun to see the median home prices gradually drop each month, both in Texas and the U.S. as a whole. Homes are staying on the market longer. This means that lower home prices and more negotiating power in favor of the home buyer are predicted in the coming months. So, Let’s talk about the ways to take advantage of the opportunity to negotiate in a buyer’s market: Know how to identify a Buyer’s vs. a Seller’s Market The difference between a buyer’s and seller’s market is the advantage the market provides to either side. This is generally determined by the balance of supply and demand. Seller’s Market: When demand is high, competition for homes is high and they sell fast. Usually, this means that homes sell at or above their asking price. Sellers
Are you throwing money away on rent?
It’s not uncommon to hear the idea that renting is throwing away money. However taking a closer look at the investment that home ownership requires, in comparison to the relative freedom of renting property deserves some context. There can be financial reasons to choose to continue to rent, just like there are benefits to buying a home. It is advisable to consider your long- and short-term goals in deciding if you are actually throwing money away. Are you throwing money away on rent? Throwing Away Money vs. A Return on Your Investment The concept of “throwing away money on rent” comes from the oversimplification of an investment vs. renting in the housing market comparison. If you are simply looking at where your money goes each month, then rent does seem like an opportunity-loss for building equity. Rent: When you pay rent you are making a payment on which you have no possibility of making a return. Your rent is an exchange with the property owner for the ability to occupy a certain space for a specified amount of time. When your lease agreement expires, you can choose to leave the property or renew the lease for another specified amount of
Top 3 Tips: How to Find a Good Real Estate Agent
Finding a good real estate agent can make your home buying or selling experience much easier. Their knowledge of your local housing market and the detailed steps of a real estate transaction make a potential agent a true asset to you. A good real estate agent keeps you informed with clear communication, is honest with their advice, and uses time efficiently. However, an inexperienced agent can leave you feeling frustrated and lost. There are a few ways to find a real estate agent with proven experience that will be an excellent guide in helping you buy or sell a home. So, where do you find a quality real estate agent? You could call an agent based on their friendly face on a local yard sign, newspaper ad, or online listing. Although, those ads don’t guarantee a quality experience. You could even ask a friend or family member to refer you to a good agent. Again, the person they know may not work in your local area or be right for your needs. We have a few suggestions that can help you find a real estate agent and assess if they are good match for you. Here are 3 top tips
When is a good time to buy a home?
When is a good time to buy a home? If you are dreaming about becoming a homeowner, knowing when to buy a home is likely a question on your mind. The truth is that the right time to buy a home is different for every person. You should consider your personal goals and financial readiness to be just as much, or even more, important than finding the perfect market conditions. When it comes to making the decision to buy a home YOU are the most important factor. Let’s talk about… When is a good time to buy a home? Time of year Throughout the year there are some general trends that we see in the housing market. The school year, holidays, and the weather help to guide overall competition for home buyers. Below are a few trends you could consider when deciding when a good time is for you to buy a home. Winter: This is usually the time of year when the inventory of homes is the lowest, and competition is also low. You can potentially find a good deal on a home in the winter if someone is needing to list and sell their home quickly. Keep an
5 Simple Habits for Organizing Your Finances
Organizing your finances can help make your life less stressful with some changes to your habits. The decisions you make about your money today can impact both your immediate and long-term future. Establishing some healthy financial habits can help you build your savings, keep up with due dates, and track your bigger financial goals. Big changes most often happen over time in a number of smaller changes. If you make a few simple changes to your financial strategy, you will see a bigger change in the future. Make a daily, weekly, or monthly habit to check in with your financial goals. Add these 5 simple habits for organizing your finances to your routine: 1. Keep Track of Your Money Flow Swiping a credit or debit card is much easier than spending cash, because you aren’t exchanging or counting a physical currency. This can make it easier to overspend. However, it is important to think about the money that comes in and out of your accounts. Being thoughtful about your spending can help you keep an eye on where your dollars are going each month. Make a budget that tracks your necessary expenses like housing, food, and transportation costs. You should
