Why You Should Buy A Houston Home Right Now.

Why You Should Buy A Houston Home Right Now.       

Whether you desire to lease a Houston apartment or lease a Houston home, or buy or sell a house here in the Houston metropolitan area, we will provide the information and expertise to help you make a sound decision. As your Houston Realtor and Houston relocation specialist, you can expect integrity, fairness, extensive knowledge and professional service from my team and I. We are certain that with your input and our knowledge, we will locate the right home for you. We listen to our clients and most of all we care about you and where you live. Please know that we offer a FREE Houston Apartment Locating service to you as well!

You have probably heard it all over media outlets. "Affordability is at an all-time high." "Interest rates are below 4.0 percent!" The question remains, however, why buy a home? What do these proclamations actually mean for you?

Let’s look at these claims. Affordability is at an all-time high. This is calculated by a ratio of median household income to median home prices for any given area.


According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) this record level is around 73 percent of all new and existing homes. To put this number into perspective, before recent years’ developments it was rare to see the HOI go above 60 percent.


Some areas are fairing better than others. Topping the list for affordability, as one example, is Lakeland-winter, Florida, where a median household income of $53,800 made 92.5 percent of all homes sold within reach of buyers.


What does this mean for you, the buyer? It means that If you're here in Houston, I can assist you by letting you know what home prices are like in the area you're looking for and compare those to your own family income. Are you in the position to buy a larger home or move up thanks to low rates and low prices? I can help you determine that.


The market is the perfect climate today for buyers with cash for downpayments, steady incomes, and good credit scores. Buying today is full of opportunity. You can buy more home for less money and pay less interest over the life of the loan thanks to incredibly low interest rates.


Rates have never been this low. They are currently under 4.0 percent for buyers with good credit (think credit scores at least 720). Even if you don’t have an excellent credit score you may still be eligible for other good rates or deals. Now is the time to find out!


There are fewer buyers on the market, which means you have more leverage at the negotiating tables. Sellers are willing to make more concessions and many are motivated to sell, especially if their home has been lingering on the market.


Additionally, there are incredible deals to be had on the glut of foreclosed and short sale homes which are now on the market. Recent reports have indicated that this deluge of foreclosed home isn’t going away any time soon due to delays from banks. Many homes that have been delinquent for years are just now hitting the market. These banks are ready to unload.


Why should you buy a Houston home right now? You’re going to find better deals, lower prices, and the best rates in history for buying a home. That sounds like an ideal time to enter the market!

Please take a moment to visit our website at www.DavidTheLocator.com or call us direct at 281-326-HOME! We look forward to hearing from you!

7 Best Remodeling Projects for the Money:

7 Best Remodeling Projects for the Money:      
Planning your remodel and want make sure you’re spending your hard-earned cash wisely? Each of these replacements and upgrades earned top honors in Remodeling magazine’s latest Cost vs. Value Report* for having the biggest bang for your buck — giving you the best return on your home improvement dollar while preserving the value of your home.

#1: Tough-as-Nails Siding Replacement:


Durable, weatherproof, fireproof, and resistant to insects and decay, fiber-cement siding is a popular trend for siding replacement. One of its key benefits is stability — it doesn’t shrink and expand with changes in temperature and humidity. Exterior paint and caulking jobs last longer, contributing to low-maintenance exteriors.


National average cost, replace 1,250 sq. ft. of existing siding with fiber-cement siding, including all trim: $13,461*


Value at resale: $10,493*


Percent of investment recouped: 78%*


*Based on a national survey of REALTORS® who provide value estimates for specific, hypothetical projects. Of course, the value of any project at resale is subject to a various unpredictable factors, including the condition of the home, the value of similar homes nearby, and the rate at which property values in the surrounding area are fluctuating.

New Bill That Affects HOA's.

A new bill that affects HOA's went into effect this year. The new law brings new restrictions to homeowner associations and will require them to give homeowners 3 to 18 months to pay off late dues or fines.

Homeowners will also be allowed to contact their association directly about their late payments, even if the association has retained an attorney or collection agent.

Homeowners can now prevent their HOA's from using foreclosure ifthe ban is approved by 2/3 of its members.

Effective September 1, 2011 HOA's will  be required to get a court order brfore foreclosing.

Homeowner advocates say they have been fighting for the protections for years. "This is the first time we got protection that had real teeth." said Harvella Jones, president of the Richmond-based National Homeowners Advocate Group.

As always, please take a moment to visit our website at www.davidthelocator.com or call us at 281-326-HOME for all of your real estate needs! Have a great day!

Homeowner Tax Deductions To Consider Before April 15th.

You've purchased a home... Congratulations! Now that you are a homeowner, there are some new tax considerations along with the joy of  yard work, plumbing and cleaning! Here are some homeowner tax deductions to consider before April 15th!

First of all, you need to know that in order to take full advantage of tax deductions for your home, that you will need to itemize. To deduct expenses of owning a home, you must file Form 1040 and itemize your deductions on Schedule A (Form 1040), if you itemize, you can not take the standard deduction. Let's define a "HOME." 

(Defining "home"... Your home can be a house, co-op, condo, mobile home, trailer, or even a houseboat. For trailers & houseboats, one requirement is that the home must have sleeping, cooking, and toilet facilities. Even a rental car can be considered a second home, provided you live in it either 14 days out of the year or at least 10% of the number of days you rent it for, whichever is greater)

For many  homeowners, the effort of itemizing is well worth it at tax time. Some, however, might find claiming the standard deduction remains their best move.

If you do find that itemizing is best for your tax situation, here's a look at homeowner expenses you can deduct on Schedule A, ones you can't and some tips to get the most tax advantages out of your new property-owning status.

Mortgage interest

Your biggest tax break is reflected in the house payment you make each month since, for most homeowners, the bulk of that check goes toward interest. And all that interest is deductible, unless your loan is more than $1 million. If you're the proud owner of a multimillion-dollar mortgaged mansion, the Internal Revenue Service will limit your deductible interest.
Interest tax breaks don't end with your home's first mortgage. Did you pull out extra cash through refinancing? Or did you decide instead to get a home equity loan or line of credit? Generally, equity debts of $100,000 or less are fully deductible.
What if you're the proud owner of multiple properties? Mortgage interest on a second home also is fully deductible. In fact, your additional property doesn't have to strictly be a house. It could be a boat or RV, as long as it has cooking, sleeping and bathroom facilities. You can even rent out your second property for part of the year and still take full advantage of the mortgage interest tax deduction as long as you also spend some time there.
But be careful. If you don't vacation at least 14 days at your second property, or more than 10 percent of the number of days that you do rent it out (whichever is longer), the IRS could consider the place a residential rental property and ax your interest deduction.

Points

Did you pay points to get a better rate on any of your various home loans? They offer a tax break, too. The only issue is exactly when you get to claim them.
The IRS lets you deduct points in the year you paid them if, among other things, the loan is to purchase or build your main home, payment of points is an established business practice in your area and the points were within the usual range. Make sure your loan meets all the qualification requirements so that you can deduct points all at once.
A homeowner who pays points on a refinanced loan is also eligible for this tax break, but in most cases the points must be deducted over the life of the loan. So if you paid $2,000 in points to refinance your mortgage for 30 years, you can deduct $5.56 per monthly payment, or a total of $66.72 if you made 12 payments in one year on the new loan.
The same rule applies to home equity loans or lines of credit. When the loan money is used for work on the house securing the loan, the points are deductible in the year the loan is taken out. But if you use the extra cash for something else, such as buying a car, the point deductions must be parceled out over the equity loan's term.
And points paid on a loan secured by a second home or vacation residence, regardless of how the cash is used, must be amortized over the life of the loan.

Taxes

The other major deduction in connection with your home is property taxes.
A big part of most monthly loan payments is taxes, which go into an escrow account for payment once a year. This amount should be included on the annual statement you get from your lender, along with your loan interest information. These taxes will be an annual deduction as long as you own your home.

But if this is your first tax year in your house, dig out the settlement sheet you got at closing to find additional tax payment data. When the property was transferred from the seller to you, the year's tax payments were divided so that each of you paid the taxes for that portion of the tax year during which you owned the home. Your share of these taxes is fully deductible.

Property taxes must be deducted as an itemized expense on Schedule A.

When you sell

When you decide to move up to a bigger home, you'll be able to avoid some taxes on the profit you make.
Years ago, to avoid paying tax on the sale of a residence, a homeowner had to use the sale proceeds to buy another house. In 1997, the law was changed so that up to $250,000 in sales gain ($500,000 for married joint filers) is tax-free as long as the homeowner owned the property for two years and lived in it for two of the five years before the sale.
If you sell before meeting the ownership and residency requirements, you owe tax on any profit. The IRS provides some tax relief if the sale is because of a change in the owner's health, employment or unforeseen circumstances. In these cases, the tax-free gain amount is prorated.
A ruling by the IRS in late 2002 could put more dollars in homeowners' pockets when they must sell before they qualify for the full tax break. The Treasury has defined the unforeseen circumstances that often force homeowners to sell and under which they now can get some tax relief. They are:
-Death.-Job loss that qualifies for unemployment compensation.-Divorce or legal separation.-Employment changes that make it difficult for the homeowner to meet mortgage and basic living expenses.-Multiple births from the same pregnancy.

A partial exclusion can be claimed if the sale was prompted by residential damage from a natural or man-made disaster or the property was "involuntarily converted," for example, taken by a local government under eminent domain law.
Second home sales also can provide some tax benefits, but not as much as they did in the past, thanks to a law that took effect in 2008. Previously, you could move into your vacation property, live in the home as your primary residence for two years and then sell and pocket up to $250,000 or $500,000 profit tax-free. Now, however, you'll owe tax on part of the sale money based on how long the house was used as a second residence.

What's not tax-deductible

While many tax breaks are available to a homeowner, don't get too carried away. There are still a few things for which you have to bear the full cost.
One such expense is insurance. If you pay private mortgage insurance, or PMI, because you weren't able to come up with a large enough down payment, that's a cost you probably won't be able to deduct -- unless you meet the requirements of a special PMI law. Under this law, some homeowners can deduct on Schedule A their PMI payments on loans originated or refinanced between Jan. 1, 2007, and Dec. 31, 2011, and which meet certain loan amount limits.
The other big home-related insurance cost, property hazard insurance premiums, still remains nondeductible for all, even though the coverage generally is required as part of the home loan and is included as a portion of your monthly payment.
Other nondeductible residential expenses include homeowners association dues, any additional principal payments you make, depreciation of your home, and general closing costs and local assessments to increase the value of your neighborhood, such as construction of new sidewalks or utility connections.
What about all those repairs that seem to crop up the day after you move in? Surely they're tax-deductible. Sorry. While they'll make your house much more comfortable, you're on your own here, too.
But hold on to the receipts. Some long-time homeowners may find their property has appreciated beyond the $250,000 ($500,000 for married couples) amount the IRS will let you keep tax-free when you sell. If that happens, the records of property improvements could help you establish a higher basis for your house and reduce your taxable profit.

For details you can visit the IRS website:  http://www.irs.gov/publications/p530/ar02.html

New to Houston? My List of Top 5 Places to See!

Are you New to Houston? Here is my List of Top 5 Places to See! 


Hello! My name is Ashley Sullivan and I am part of the DavidTheLocator team. I recently moved to Houston from Indiana in March of 2011. I am originally from Iowa. In the short time I have lived here, I have had the chance to see and explore many things in Houston. Here are my top 5 picks.

1.                                             The Houston Galleria:   

Not just a shopping mall, it is a shopping center with approximately 3 million square feet with 375 stores! Complete with high end fashion retailers, the Galleria holds the same amount of fame and “prestige” as Chicago’s “Magnificent Mile”, but there is something here for every budget.  Is there a “Fashionista” in the family? This is definitely a place to visit!

2.                                                              Rice Village

Close to Rice University, Rice Village is complete with shops, boutiques, dining, and pubs. Rice Village covers about 10 city blocks containing a wide variety of shops ranging from old to new. With restaurants offering cuisine from every part of the world, there is truly something here for everyone! My personal favorite is a little authentic French bakery and café called, “Croissant Brioche”.  This charming little café offers delicious pastries galore!

    

3.                                                                          Kemah

  

I cannot make a list of things to do in Houston without mentioning one of my favorite places…The Kemah Boardwalk!  Kemah is a place where you can bring the whole family. It is like any other pier or boardwalk you might find in other major cities, offering a carnival like atmosphere. You can spend the day riding the carnival rides, take a scenic boat cruise…or for the adventurous person you can ride the “Boardwalk Beast, but remember to bring your swimsuit because you will get wet! The famous Aquarium is also in Kemah where you can see live sea creatures in the massive fish tank which is built into the walls and structure of this aquatic themed restaurant.  Aside from the attractions and dining Kemah has to offer, there is also the amazing view!

4.               The Houston Museum of Fine Arts

The Museum of Fine Arts is located in Houston’s Museum District. The museum includes a sculpture garden, two gallery buildings, a movie theater, two house museums, two art schools, and two gift shops where you can find a print of almost any painting you see in the galleries. There is also a café which is delicious! The galleries include works by Andy Warhol, Georgia O’Keefe, Vincent Van Gogh, Pablo Picasso, Edgar Degas, and Jackson Pollock…to name a few!

  

5.                                         The Houston Rodeo

The Houston Rodeo usually runs from the end of February to about the middle of March. If you happen to be in town, it is an event to experience, after all…it is Texas! Entertainers are lined up to perform at Houston’s Reliant Stadium every night of the rodeo. There is a carnival, and of course the rodeo itself. So bring your cowboy hats and the whole family to experience a true ‘Texan’ event!

I hope this list was helpful to you, and if you get the chance to visit, I hope you enjoy these places as much as I have! I would like to take this opportunity to ask “ya’ll” what are some places you have discovered in the Houston area that you would like to share? ...

I am always interested in new discoveries and so are our readers! Thank you very much and have a wonderful day J


Last but not least, if you ARE moving to Houston, please check out our website at www.DavidTheLocator.com we can help you with all of your buying/selling and leasing needs in the Houston Metropolitan area. Or call us direct at 281-326-HOME, I look forward to speaking with you!


  By: Ashley Sullivan  

Are You In The Process Of Looking For An Apartment?

                                                                         

Are you in the process of looking for an apartment? Hi! I’m David J. Moore aka DavidTheLocator! My wife Marisol and I own a Real Estate & Relocation company in Seabrook, Texas that specializes in relocating families to and within the Houston & surrounding areas.  Our company is unique in that not only are we Real Estate experts but we also specialize in Apartment Locating which not many real estate companies do. Best of all, our Apartment Locating service is completely FREE… yes, free!   

The Houston apartment rental market is quite oversaturated, which spells good news for apartment hunters. In addition to all of the rental properties in Houston, many condo and townhome developers are turning to renters because of the downturn in the real estate market.
Because there are an overwhelming number of options when it comes to the Houston apartment rental market, you should begin your search with a good game plan.
There are some things to ask yourself for entering the Houston apartment rental market as a renter and to consider. Let us at DavidTheLocator guide you through this process and make your move as stress-free as possible.
Be careful about what you see on the internet. Pictures and offers can be very deceiving. My job is to do this work for you. I will create a list of apartments that meet your needs. I will call and check specials and availability and set appointments. I have extensive knowledge on apartment communities. I know which ones have good management and will take care of you.  You will not see this information on the internet. Best of all my services are free to you because I receive credit from whatever apartment community you choose to live in. I also offer special referral fees to anyone you refer to me.

Please visit our website which is loaded with great information at www.davidthelocator.com ! If you have any questions and are looking to move you can contact our office at 281-326-HOME. Oh...one more thing...don't let us lose you over a rebate! We match any rebates out there! 


Thanks for this opportunity to help you. I promise you will be very happy with our level of integrity, property knowledge and service. We care about where you live and will definitely help you find the best possible options.