Home Warranty? What Do You Think?

                                                    

Are you a homeowner? If so, you probably know all-too-well how costly home repairs can be. And, thanks to Murphy's Law, appliance break-downs seem to happen at the worst possible time...like when you are selling your home. For this reason, it is in the best interest of all home sellers to consider purchasing a home warranty.

A home warranty offers many advantages to the home seller, the least of which is a piece of mind that your major home appliances are covered in the event of a break down. Most home warranties cover both parts and labor of your home's most vital systems and major appliances. This protects the home seller from potentially large, unexpected repair bills and also allows the buyer to purchase the home with more confidence. Additionally, a home warranty is usually for the term of at least one year, so any unforeseen repairs/replacements are also covered well after the home has been sold. It is arguable that homes that have home warranties sell faster, for a higher price, and with less inconvenience. A home warranty provides a competitive edge over those homes without warranties because it communicates confidence to the homebuyers. This can add up to a faster selling period, resulting in a more convenient process for all involved. 

A home is probably the single largest investment you'll ever make, so the last thing you want as a home seller or buyer, are unexpected home repairs/replacements. Major appliance replacement can cost you several thousand dollars, and during the process of a home sale/purchase, your budget doesn't often allow for costly expenses. A home warranty is designed to protect you from these types of expenditures. Furthermore, it is convenient for home sellers because a home warranty offers after-sale liability. While an inspection may find many faults that are covered by a home warranty, it cannot account for latent problems that are beyond an inspection's scope, or problems that occur down the road. In most cases, a home warranty will cover these expenses, alleviating potential financial burdens for the seller once they have sold the home.

When considering a home warranty, it's important to ask the right questions. Warranties vary from one company to the next and there are also many different types of coverage available. My team at David J. Moore Properties (DavidTheLocator) can help you with this process. Things to consider.. First and foremost, you should find out what components of the home will be covered by the warranty. It's also important to attain annual costs and the charge for service calls. You will want to ask what the total dollar limit is on the warranty and what the limits are for the individual items that are covered. Many home sellers purchase home warranties, which are then passed along to the homebuyer when they move into the home. As a homebuyer, you may want to look into whether or not the coverage can be renewed once the warranty has expired. On our website www.davidthelocator.com you will find a list of "Service Providers" where we have suggested some home warranty companies. Please know that we make no money what-so-ever from them, we simply suggest them because we have either used them ourselves or they have come highly recommended from reliable clients.

I predict that home warranties will eventually become commonplace, as buyers and sellers realize the advantages that they provide. Ultimately, what it comes down to is that a home warranty is a very simple, cost-effective way to purchase a piece of mind for both homebuyers and sellers alike.

Any comments? Questions? Please leave a comment below, we'd like to hear from you!

January 31st Last Day to Pay Property Tax Without Penalty & Interest!

by HoustonNewcomerGuides

                                                                                           

Downtown Harris County Tax Office open late 2 evenings to aid taxpayers

 

HOUSTON – Jan. 19, 2011 – Monday, Jan. 31 is the last day taxpayers can pay their 2010 property tax bill free of penalty and interest charges. On Tuesday, Feb. 1, 7 percent penalty and interest will be assessed.

“Don’t make this more painful than it has to be. Even if you can’t pay all your tax bill by Jan. 31, we can take a partial payment as late as Monday, Jan. 31,” Tax Assessor-Collector Don Sumners said. “You can reduce the penalty and interest that way. The sooner you pay the better. The penalty and interest keep increasing every month.”

For taxpayers’ convenience, the Harris County Downtown Tax Office Branch at 1001 Preston will extend its hours until 5:30 p.m. on both Friday, Jan. 28 and Monday, Jan 31. The other 14 branch offices will be open their normal hours, 7:45 a.m. to 4:45 p.m. (The hours will change to 8 a.m. to 4:30 p.m. on Feb. 1.)

The Tax Office also accepts payments online through its website, www.hctax.netand by mail, by phone and in person. Those paying online can use any combination of credit cards, debit cards and/or e-Checks. The same options are available if you pay by touch-tone telephone. Call 713-368-CARD (2273). Online customers are cautioned to start early enough to complete their payment by 11:59 p.m. Central Standard Time on Jan. 31.

All of the 15 tax office branches take credit and debit cards at the counter. And all have a computer terminal kiosk that taxpayers can use to pay via credit card. A surcharge of 2.15 percent is added to each credit card transaction, as well as MasterCard debit transactions. When using a VISA debit card, there is a flat fee of $3.95. E-Checks are free.

The Downtown office extend its hours until 5:30 p.m. only on Friday, Jan. 28 and Monday, Jan. 31.

For more information, taxpayers may call 713-368-2000 or visit the Tax Office Web site at www.hctax.net.

Five-Step Bathroom Refresher

With the beginning of a new year comes a fresh start, making it a great time to give your bathroom a thorough top to bottom cleaning. Whether you’re moving into a new home and need to give your new bathroom a refresher, or you just need to revive a familiar space, following our step-by-step tips will help you get a deep clean and a fresh start.


Step-By-Step Cleaning
We start and end each day in the bathroom, so it’s important to maintain a space that’s clean and positive. Follow these five steps to clean your bathroom, and if you’re ringing in the year by moving into a new home, skip to step two since your new bathroom won’t require decluttering.

Step 1: Remove Clutter for Easier Cleaning

•Declutter: Remove all items from the bathroom, including hair products, makeup, soap dispensers and anything that might get in the way of cleaning a surface.
•Toss: As you’re removing items from your bathroom, don’t hesitate to toss anything out that isn’t being used. If something hasn’t been used within the past six months, it can likely be thrown away.
•Sort: When removing items from drawers or cabinets, sort each space’s contents into separate containers so they can easily be returned to their original location. Filing boxes, shoe boxes, reusable grocery bags or brown paper bags can all be used to sort.

Step 2: Clean Your Bathtub or Shower Stall

•Walls: Clean the walls of your bathtub or shower with a solution that doesn’t leave behind the overwhelming smell of bleach. Mr. Clean® Disinfecting Bath Cleaner with Febreze® Freshness is great for the task since it cleans 2x more soap scum per swipe compared to the leading bath spray cleaner while leaving behind a fresh scent, like Febreze Meadows & Rain®.
•Tub or Tile Floor: As tubs and tile flooring experience wear over time, discoloration slowly occurs with the buildup of soap scum—often so gradually that it’s hard to notice any change. Reach for Mr. Clean® Magic Eraser® Bath Scrubber to clean 3x more soap scum per swipe*.
•Shower Curtain or Glass Doors: Don’t forget to polish off your shower or bathtub by cleaning your shower curtain, liner or glass doors. Mr. Clean Disinfecting Bath Cleaners with Febreze Freshness works great for removing soap scum so you can move on to your next task in no time.

Step 3: Clean Your Toilet

•Wipe Down: Start by putting on a pair of rubber gloves, then spray the outside of your toilet, seat included, with Mr. Clean Disinfecting Bath Cleaner with Febreze Freshness. Make sure you also spray around the base and rear of the toilet before you wipe down with paper towels.
•Clean the Bowl: Use a liquid toilet bowl cleaner to line the inner rim of your toilet bowl, allowing the cleaning agents to run down the inside of the bowl. Scrub away grime with a brush, then flush.

Step 4: Clean Your Mirrors, Countertops & Sink

•Mirrors First: Use Mr. Clean® Multi-Surfaces Spray Cleaner with Febreze® Freshness to help give mirrors a streak-free shine while leaving behind the fresh scent of Febreze Lavender Vanilla & Comfort®.
•Counter & Sink: Clean your bathroom counter and sink with a solution that can effectively power through soap scum. Mr. Clean Disinfecting Bath Cleaner with Febreze Freshness makes a great companion and can be used for both counters and sinks, so you only have to use one solution.

Step 5: Finishing Touches

•Floor: To finish your cleaning job, use Mr. Clean Multi-Surfaces Liquid with Febreze Freshness to clean dirt and help eliminate odors on linoleum or tile floors. Cleaning with a scent like Febreze Meadows & Rain®, your bathroom will smell as fresh as it looks.
•Re-Stock: Once you’ve allowed all of the bathroom surfaces to dry, return your items to their original locations, or place items in their new location if you’re just moving in.

Was this article helpful? Please let me know!

Remember King’s entire legacy

Perhaps, if Martin Luther King Jr. were to write a letter on the holiday set aside for him, it might go something like this, albeit more eloquently:

Dear Brothers and Sisters:

Forty-seven years ago, in August 1963, while imprisoned in the Birmingham jail for nonviolent demonstrations against segregation, I wrote a letter in longhand to eight religious leaders.

They had criticized me for moving too fast on issues that didn’t concern me and saw me as an outsider from Atlanta.

I reminded my religious colleagues that “Injustice anywhere is a threat to justice everywhere.

We are caught in an inescapable network of mutuality, tied in a single garment of destiny.

Whatever affects one directly affects all indirectly. Anyone who lives inside the United States can never be considered an outsider.”

Today, as I look about, I am bewildered by the many political leaders, who assemble each year to commemorate me.

They almost seem to make me a saint. It is as if many of them never heard my message.

These leaders forget about my unrelenting challenge to this country’s economic structures that leave so many people in severe poverty.

Do they remember I was assassinated while trying to help low-paid Memphis sanitation workers raise their salaries? Do they not hear my lament about the racial barriers in education?

Instead, they focus only on the “safe” part of my life, not my voice lifted in prophecy against war and poverty, for which I was severely chastised.

How can they not answer those contradictions I spent my life laying bare about the United States?

They ignore the many times I called America to task for using war against perceived national security threats? Then, it was Vietnam. Now, it is Iraq and Afghanistan.

When will Americans heed the vision of Isaiah to transform our weaponry of death into tools for peace to end world poverty?

Terrorists build off social inequality, lack of education, poverty and a perverted view of the United States, which they perceive as materialistic and militarily aggressive.

War, the killing of innocent people and the destruction of social infrastructure provide them with recruiting opportunities they would not otherwise have.

What if the United States had used the $1.3 trillion it has spent on the wars to build schools and hospitals in foreign lands? Or starting farming co-ops?

Those would have yielded more success in our common struggle against terrorism.

And the world economy would have been better off. Instead, 7,000 troops have died — not to mention the tens of thousands now disabled — and a hundred thousand or more noncombatant men, women and children in Afghanistan and Iraq.

I also lament the attacks on immigrants in our country, people who have migrated here to support their families.

Perpetrating discrimination against them because of their national origin or religion will come to justify discrimination against others, an alarming regression in the hard-fought victories we won so painstakingly.

As Leviticus reminds us: “When an alien resides with you in your land, you shall not oppress the alien.

“The alien who resides with you shall be to you as the citizen among you; you shall love the alien as yourself.”

When you get together on my birthday holiday, don’t just celebrate the strides we have made — for many more remain to you. Organize to end injustice, anywhere and everywhere.

Your brother,

Martin

Looking to buy a Houston home? My best piece of advice.. Do not buy unless you can afford to!

                                                                        

Are you looking to buy a Houston home? In a New York Times article entitled Interest Rates Have Nowhere to go but Up, it is suggested that now is the time to buy as mortgage rates are not likely to get any lower for buyers looking to purchase Houston real estate.

According to the article , after a historic 30-year decline in the cost of borrowing, interest rates are on the rise. The switch comes as no surprise, and is a natural facet of the ebb and flow of economics. Unfortunately though, the current rise in interest rates looks like it may continue for quite some time, at the very least through the end of the year when the 30-year mortgage rate is expected to hit six percent. This means that the small rebound that has begun to take shape is unlikely to last, and those looking to buy Houston homes for sale will find it harder and harder to borrow the money that they need.

Thankfully, for buyers looking at homes in Houston, interest rates on a 30-year mortgage aren’t going to come anywhere near their all-time high of 18.2% in 1981. A rate that high translated to a monthly payment of $1,523 on a $100,000 loan. To give a little perspective, the monthly payment on the same loan right now is $556.

Given that piece of information, clearly things could be worse, but that doesn’t mean that the situation isn’t bad for those looking to buy Houston property. So what can home buyers do to better their chances of securing home loans?

The best piece of advice is do not buy unless you can afford to. If you’ve tried every option for a home loan and no one will give you a Houston mortgage, you might want to take that as a sign that you’re not financially ready to invest in real estate. If you find you are in this situation, it may be worthwhile to discuss this matter with your realtor and figure out what measures you can take now so you can secure a home loan and purchase property in the future.

If you feel that you are truly ready to buy, choose your lender carefully for the best chance at securing a loan. Try to find a lender with a track record of excellent customer service who will answer all of your questions and make you feel comfortable. A Houston Mortgage lender that has the authority to approve your loan locally is ideal, because that lender will be most likely to know what the Houston real estate market is actually like. I have some lenders that I work with and trust that I can refer to you.

It’s also a good idea to know your credit score before you try to secure a loan. Equifax, Experian, or Trans Union will provide you with a free credit report through their simple request processes. Make sure the information in your credit report is accurate and do some research to figure out what you can do to improve your score—that might mean reducing your number of credit cards or paying off your debt. You should look at this report yearly as I have found sometimes there are errors on them that you're not even aware of but that can be disputed and removed.

Keep in mind that we at www.davidthelocator.com also do residential leasing & apartment locating if you're not in the market to buy right now.

If you have any questions, feel free to call us so that we can address them.

Total Pantry Clean Out!

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  After months of cooking and entertaining,(well...maybe my awesome wife did this...) it’s time to start fresh with an organized pantry. Finish the job in record time with our 5 steps to a clean cupboard.
  
  1. Clear the space. Start by taking everything out of your pantry. Toss goods that are past their prime—expired spices, boxes of stale cereal and almost-empty bags of chips, to name a few. If you have duplicate canned goods you won’t use soon, donate them to your local homeless shelter or soup kitchen. And don’t throw away those empty tea tins and coffee cans—repurpose them as jade plant containers.
  
  Instead of moving back and forth to throw away items, pull the trashcan near you. Try lining it with Glad® OdorShield with Febreze® Freshness trash bags—they neutralize strong food odors and come in three scents: Fresh Clean, Fresh Lemon and Fresh Vanilla.
  
  2. Clean everything. First, vacuum up crumbs, broken pieces of pasta, spilled flour and other bits of food. Then wipe everything down, from the top shelf to the bottom drawer. Pay special attention to stuck-on messes, especially melted chocolate, dried-on sauce and sticky honey, all of which can attract unwanted pests.
  
  Rid your pantry shelves of dirt and grime quickly and easily with Mr. Clean® Multi-Surfaces Spray with Febreze® Freshness. It cleans to a shine you'll love, plus leaves the space smelling fresh.
  
  3. Go shopping. Try store-bought storage solutions. Keep snacks and cereal in sturdy plastic containers where they’re less likely to spill. Pour flour and sugar into canisters or glass jars—for easy measuring, opt for containers with wide openings. Use a lazy Susan for spices, so when you need to find the cayenne or cloves, all it takes is a spin.
  
  Tip: For organization that doubles as décor, clip your tea bags to a clever clothespin wreath, then hang it on the pantry door.
  
  4. Develop a system. Whether your pantry’s big or small, follow a few general rules of thumb. First, group items by category: Baking needs; pasta and rice; condiments, dressings and sauces; snacks (sweets, popcorn and chips can all have their own space, if desired); soup; and canned vegetables. Keep everyday stuff like cereal and lunch supplies easily accessible, and store healthy munchies where children can get to them.
  
  5. Stay organized.You’ve spent so much time on the initial cleaning and organizing—now let it pay off. As you unpack groceries, put new, non-perishable items behind older goods so you know what to use first. Consolidate as you go, too. For example, when the peanuts are almost gone, buy a fresh canister and pour the old on top of the new.
  
  What have you done to clean out your pantry? Any other suggestions? Please comment.

  
  

Freezing Temps Tonight! Protect Your Home!

                                                            

The forecasts for Houston and surrounding areas are calling for temperatures in the mid to low 20s.  Temperatures of this sort could lead to frozen pipes within your home and cause unwanted damage.  Below is a list of helpful answers that can help prevent frozen pipe damage.
Q:  When should I protect my piping?
A:  Any time that freezing temperatures are under freezing for more than a 4 hour duration.

Q:  Is an overnight freeze worse than daytime?
A:  Yes, especially between the hours of 11 pm and 5 am.  This is when most households are NOT using water which makes it easier to freeze(due to no temperature change in the piping system of the neighborhood). Stationary water will freeze quicker.

Q:  What can I do to protect my water piping?
A:  1.  Wrap outside hose bibs with a towel and duct tape
     2.  Insulate exposed water piping in attic
     3.  Run your furnace(72 degrees) a little hotter than usual.  This will help keep temperature warmer in attic.
     4.  Run a steady stream of water in all of your tubs (a small constant stream of both hot and cold water).  Please remember hot water will freeze faster than cold so you need to keep water flowing through the water heater. The reason to have water run through
           all tubs is to ensure that all parts of your plumbing system are flowing as opposed to just one part.

Q:  How long do I keep water running?
A:  Until temperatures reach above freezing.

Q: How do I protect my sprinkler system?
A:  Shut system down and make sure exposed piping is insulated and covered.  Drain the water out of the vaccum breaker.

Please consult a licensed plumber prior to making any adjustments to your plumbing system.

Have a good evening and try to keep warm!

By: Marisol Quijano-Moore
www.DavidTheLocator.com
281-326-HOME 

What About Those Termites?

In light of my recent termite scare that ended up being carpenter ants and NOT termites... I thought I would share a blog I wrote about these annoying little insects!!!

Known to conjure up feelings of dread in homeowners worldwide, the name termite comes from the Latin word for woodworm. No big surprise there. In nature, termites are good, because they turn decayed wood into nutrients for other organisms. In nature; good. In our homes; not good.

How do I know if I've got 'em?

Typical signs of termite infestations include swarming of winged adults in the spring (March, April, May, and June) and occasionally autumn (September and October)... Other signs of termite presence include "pencil-size" mud tubes (which termites use like tunnels), constructed over the surface of foundation walls, mud protruding from cracks between boards and beams, and hollow sounds from infested wood when it is tapped, or extreme softness when probed with a knife.

First, experts advise, "Don't panic." Termites work slowly. Take the time to do research. In most cases, once a termite infestation has been found, control measures are usually best accomplished by a professional pest control firm rather than a do-it-yourself treatment. (Homeowners seldom have the experience, availability of pesticides and equipment needed to perform the job effectively.)

Deal only with a licensed, certified pest control firm having an established place of business and a good professional reputation. Ideally the firm will belong to a city, state or national pest control association. Get at least three competitive estimates before signing a contract for control measures.

Can I do anything to prevent them?

Termites (and ants) are attracted to moisture. Therefore, keep moisture away from the foundation of your buildings. That means keeping downspouts and gutters working properly. Also, keep vines and shrubs away from the ventilation openings in your crawl spaces. Don't stack firewood or any other wood against the foundation or in the crawl space. Prevent plants from touching the house.

Have you experienced termites? What did you have to do? We'd love to hear your stories and I'm sure it'll help someone in the future so please share!

Should you need a referral, please visit the following link on my website: http://www.davidthelocator.com/serviceproviders.html

DavidTheLocator

Follow These Tips to Get Mortgage Loan in 2011

Follow These Tips to Get Mortgage Loan in 2011

Mortgage lenders tightened their standards after the subprime mortgage mess and that won’t change in the coming year, though there are mortgage loans to be had.

Follow these tips in 2011 to secure a mortgage loan at an interest rate and under terms that are right for you.

--- Have the right credit score- Before the crisis, the best mortgage loans came with a credit score of 720. The best combination of interest rate and points requires a higher credit score than in the past. Now the best deals often need a 740 credit score.

--- Protect, preserve your credit- Multiple credit inquiries will cause your credit score to fall. When mortgage lenders make multiple credit inquiries within a few weeks of one another, those multiple inquiries are treated as one. Yes, it will cause your score to drop. The hit is likely to be minor because multiple inquiries are treated as one but be aware of this.

--- Shop around- The interest rate is important, and there are other costs to consider such as discount points and the type of mortgage loan. Compare combinations of discount points and loan types. For example, if your best guess is that you’ll live in the home for 7 years before moving, compare the total fees and monthly payments you would make under three or four loan deals.

--- Know your borrowing limit- Whether or not you get an FHA-insured mortgage loan, let the Federal Housing Administration be your guide to how much debt to take on. For most borrowers, the FHA caps house payments at 31% of gross monthly income. If you earn the median household income of about $4200 per month before taxes, then your house payment (principal, interest, taxes, insurance & association dues) should be no more than 31% of that, or $1302.

--- Don’t reset the calendar to 30 years- When refinancing a 30-year mortgage loan, many borrowers restart from the beginning, scheduling the payments so they pay off in 30 years. You don’t have to do that. When you refinance a 30-year loan you’ve had for five years, pay off the new loan in 25 years. Ask the lender to amortize the loan for the remaining period of the loan. You’re fortunate enough to have positive equity and you don’t have a lot of cash lying around. That doesn’t mean you can’t refinance again. You might be able to refinance the mortgage loan yet pay little out of pocket in a no-closing-costs refi. The lender doesn’t eat the closing costs out of a sense of generosity, after all, we are talking about a bank! With a no-closing-cost loan, the bank charges you a slightly higher rate. You end up paying closing costs over time, instead of all at once.

---Small down payment? See the feds- Most lenders require borrowers to have down payments of at least 10% of the homes price. In the case of refinances, lenders want borrowers to have at least 10% equity. That leaves out a lot of borrowers and refinancers. There are options for people without much savings or equity. The FHA requires a down payment (or equity) of 3.5% for borrowers. The Department of Agriculture’s rural development program guarantees mortgage loans with 0% down payment. Those loans are limited to designated rural areas. The Department of Veterans Affairs offers 0% down for qualified veterans.

--- Make an extra payment any time of the year- It’s true! You can make an extra payment (towards principal) anytime throughout the year, just be consistent in paying it, and it will shorten the repayment time.

--- Behind on your house payments? See a counselor- Delinquent homeowners who receive HUD-certified foreclosure counseling are more likely to keep their houses and not lose them to foreclosure, according to a study commissioned by NeighborWorks America, a national network of more than 240 community development and affordable housing organizations, based in Washington, DC.

I encourage you to leave a comment below with any concerns, thoughts or questions you may have! Hope this article helped and have a great day!

Mortgage rates climb into New Year...

Mortgage rates climb into New Year...

  

               

Rates on most mortgages continued their year-end surge in the final week of 2010, with 30-year fixed-rate loans climbing to their highest level since May, Freddie Mac said in releasing the results of its Primary Mortgage Market Survey.

Rates on 30-year fixed-rate mortgages averaged 4.86 percent with an average 0.8 point for the week ending Dec. 30, up from 4.81 percent the week before, but still below the 5.14 percent recorded at the same point in 2009.

The 15-year fixed-rate mortgage averaged 4.2 percent with an average 0.8 point, up from 4.15 percent the week before but down from 4.54 percent a year ago.

Rates on 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 3.77 percent with an average 0.7 point, up from 3.75 percent the week before but down from 4.44 percent a year ago.

The 1-year Treasury-indexed ARM was the only mortgage tracked by Freddie Mac to see rates ease. The 1-year ARM averaged 3.26 percent wth an average 0.6 point, down from 3.4 percent the week before and 4.33 percent a year ago.

Rates on 30-year fixed-rate mortgages hit a record low of 4.19 percent in mid-October, and averaged 4.7 percent for the year as a whole....

Please feel free to comment below with any thoughts, questions or concerns! Happy 2011!

5 Reasons Why You Should Write the Offer Today!

5 Reasons Why You Should Write the Offer Today

Do you really need to write the offer today?

 As an experienced real estate agent, I must confirm that I have seen people lose the house of their dreams because they hesitated just one day.  Yes, just one measly day.  I hate that this market demands that buyers make decisions so quickly, but it is my job to let you know what the market is actually like.  The last thing I ever want to do is to rush any client.  But I've also seen the disappointment that can result when someone misses out on a truly exceptional home. And, in almost any kind of market a well priced desirable home will move FAST. 

So, you should be aware that even if you are not willing to act swiftly, your competition for the home may be.  It's pretty devastating to lose a great house because the offer did not get in fast enough, but it does happen - more often than you think.  On the flip side, I have also had my clients win out because other buyers have hesitated and they did not.   Accordingly, when the house is the right house, I do encourage my clients to act swiftly.

The following are five reasons why it may be important for you to write the offer today:

1)      Avoiding a bidding war / Getting a better price. Sometimes if you get an offer in quickly, you will be able to get it accepted quickly at a slightly lower price than if you waited and the situation became a bidding war.  I've seen this often with REOs (foreclosures).  I've won out on many desirable REOs because my client's offer is the first offer, gets put into the computer portal that evening before the REO agent leaves the office that afternoon, and the next morning when they check their email, it is already accepted.  Gone.  My client is celebrating as the 10 other higher offers that poured in that evening and the next day are put aside. 

2)      They just did a price reduction.  When a seller does a price reduction it is highlighted for those searching for a home.  In our area, an automatic email alert will be sent to buyers who are actively looking for that type of home, and the home will appear in the "hot sheet" search that most buyer's agents run first thing every morning.  Even a modest price reduction can dramatically increase the attention that a listing receives.  If the price is now appealing, or you think the owner will now be receptive to your offer, get your offer in quickly before someone else has the same idea. 

3)      Your offer may deter other buyers.  Buyers dislike bidding wars, so many will shy away from a home with an offer already on it.  In our current market, buyers are expecting bidding wars on REOs; however, on short sales or traditional sales, often the presence of another offer will still make buyers and their agents shy away.  Accordingly, your early offer may keep others from even bidding.  (Note this does not hold true for low ball offers, if you submit a low ball offer, the listing agent will simply tell other buyer's agents that the offer they have in hand is low and it will not generally deter other buyers from bidding.)

4)      Eager can be a good thing.  Sometimes buyers don't want to seem eager.  They don't want to come off like they want the home too badly.  However, while playing "hard to get" may be an effective strategy for some personal relationships, I don't think it translates as well into the home buying arena.   After all, most people don't spend hundreds of thousands of dollars for homes they are indifferent to, so if you write an offer today or write it tomorrow they are still going to assume that you want the home.  Also an experienced listing agent will encourage a seller to take a solid offer from the most motivated buyer.  Being the first to arrive conveys that you are motivated.  Accordingly, writing the offer today on a well priced desirable home can indeed be a smart move.

5)      Logistics matter.  An offer doesn't magically appear in front of the seller.  For an REO (foreclosure), waiting until Friday to submit an offer means that your offer probably has to withstand weekend buyer traffic and interest, because the asset managers that consider those offers often don't often work weekends or holidays, or the REO listing agent may simply not input offers until Monday.  In a sale where a "real" seller is responding, you can (and probably should) limit the time period that the offer can be considered to speed along getting an answer from the seller.  However, how soon it will be presented or responded to will still be dependent on the situation.   If you write the offer today, and I find out the listing agent is meeting with the seller in 30 minutes, I can send it right over.  If the offer is not already signed and in my hand, I won't be able to take advantage of that information.  These minor details matter and, I believe sway in favor of being fast and first in many cases.  I've even beat out another offer by being the first offer faxed to an out of town seller because they didn't want to pay to receive another fax the next day.  The offers were about equivalent so they just accepted my clients.  It happens. 

If you are looking for a home in today's competitive Houston or Clear Lake real estate market, you need an experienced real estate agent to guide you through the process so that you have a successful home buying experience.  Call my office today to set up a consultation and begin the process of buying the home of your dreams.