Category: BSL Info

Remodeling Cost versus Value

If you have a project to do some remodeling, perhaps to sell your property you will be interested in this information.   Or perhaps you intend to purchase a home that has to be remodeled.

Section  remodeled added                       Job Cost (midrange)         Resale Value

Bathroom Remodel                                   $15,000                                 $10,000

Deck Addition – wood                                  8,500                                      7,500

Backup Power Generator                           11,356                                    14,667

Window replacement (vinyl)                      9,500                                    7,100

If you have a project and would like an estimate on the cost versus value, let me  know, and I will be glad to send you the figures.

 

 

First-time homebuyer

Are you a first time home buyer ?  A “first-time homebuyer” is defined as anyone who has not owned a home during the prior two (2) years.

Have you hear the expression “running with the land”?  It refers to rights that are passed with the title of property to subsequent owners and cannot be separated from the land or transferred without it.

Money, Money, Monnnnn…….ney

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Have  you ever wondered about programs like Fannie Mae?…. which appears to be the most widely used.   Just in case you want to know……… Fannie Mae stands for The Federal National Mortgage Association, abbreviated as FNMA or “Fannie Mae”.   The Government National Mortgage Association, abbreviated GNMA and known as “Ginnie Mae” and the last one is “Freddie Mac” which stands for  Federal Home Loan Mortgage Corporation and abbreviated FHLMC.  All of these programs are a part of the secondary market lenders and facilitate the movement of funds from state-to-state.

Good Texas Mortgage Programs

Most people have to get a loan to buy property.  A few lucky people can plop down a stack of money for a cash sale.  Before you sign on the bottom                                                                      line there are a few IMG_20160601_220227044_TOPquestions  that you should ask your lender. Find out which loans you are eligible  for …….Conventional, FA, FHA, VA, USDA, and or MCC.  MCC is one that most people are not knowledgeable about and the lenders do not tell their clients about it.  I will discuss that one at a later time.  USDA is another one that is not utilized as much as it should be. The  USDA preogram offers a ‘no money down’ purchase; however it is only offered for some areas that has been pre-determined  because of the location.  The areas inside the San Antonio city limits do  not qualify. You would need to look at the USDA map, provide the address of the property to find out if it qualifies.

The GOOD, the BAD and the UGLY

For all of you real estate professionals out there, I want to use this platform to keep you informed on some things, some people and some companies that would be categorized under “good, bad, or ugly”, and of course you are invited to add your own experiences and or comments.