• Agents sell homes for more than FSBOs: study

    fsbo is obsolute and a thing of the past lysthouse

    Key Takeaways
    Agents tend to achieve higher sales prices for properties than comparable FSBO listings, enough to offset their commission fee, according to a recent analysis.
    Academic research has often cast doubt on the value of real estate agents, but a new study will come as music to their ears.

    It suggests that homeowners will net roughly the same proceeds whether they sell through a real estate agent or take the FSBO (for-sale-by-owner) route.

    That’s because agents tend to achieve higher sales prices for properties than comparable FSBO listings — enough to offset their commission fee, according to an analysis released by automated valuation model (AVM) provider Collateral Analytics.
    This makes a strong case for hiring an agent, considering that agents allow homeowners to reduce the work, risk, and time of selling a home, said Dr. Michael Sklarz, the CEO of Collateral Analytics and a co-author of the study.

    “Overall it is clear that FSBOs have a low probability of selling, and if they do they will likely net the same or less after closing issues, plus they are more likely to screw up on disclosures which may lead to lawsuits after the fact, when buyers discover material facts not disclosed,” added Norman Miller, who produced the study with Sklarz and is a real estate professor at the University of San Diego.

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  • The Best Time to Sell Your Home

    best time to sell your home in the spring

    When it is finally time to sell your house, conventional wisdom states that putting it up for sale during the peak season, beginning in spring and lasting through the summer, is the best option to take. However, what if you want to wait until the offseason break? Even though this might be a good move, would you be leaving your money on the table?

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  • LystHouse OfferNow

    OfferNow

    LystHouse OfferNow is a home buying option for home buyers who want to instantly make an offer on a home. In just a few clicks, home owners are able to make an offer with a licensed real estate agent. The instant offer is provided to the home buyer at no cost or obligation to buy. After a home buyer puts in their information, they will be contacted by a licensed real estate agent to verify and confirm information and answer any questions the home buyer may have. Next, LystHouse will reach out to the sellers and let them know that an offer is on its way for their review. Then the offer paperwork is electronically drawn up and sent to the home buyer to digitally review and sign before it is presented to the seller. Not a home buyer? We have answers for home sellers and investors too!

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  • The Best Mortgage Assistance Programs in Texas

    2 February 2018
    169 Views
    calculating home costs

    Getting the approval of a mortgage loan is known to be the very first step when it comes to purchasing a house. However, for people who have had credit problems in the past, income limitations or some other economic difficulties, obtaining a mortgage using the traditional methods can be very difficult and sometimes even impossible. It is here that the mortgage assistance programs come into play. There are a number of various programs in Texas to help people obtain a mortgage. It is only a matter of correctly figuring out the programs for which you qualify for and then let it help you get the process started.

    seth 5 star

     

    Seth 5 Star Texas Advantage Program

    seth texas 5 star advantage free money to buy a home grant

     

    The Seth 5 Star Texas Advantage Program offers assistance to eligible home buyers regarding their down payment and Closing Cost in the form of issuing a Grant. There are numerous different options for assistance available for the people to choose from. The borrowers can select the amount they need and the loan option which meets all their needs perfectly.

    The maximum assistance which is provided by 5 Star Texas Advantage Program is the 6% Grant, which is supposed to be 6% of the total loan amount. Borrowers who use 5 Star Texas Advantage Program’s Freddie Mac/Conventional Mortgage Option meeting their Affordable Income Subsidy Limits might also be eligible for a further Grant of equal to 2% of the total loan amount.

    For the assistance provided there is no recapture period or repayment. Furthermore, there is also no secondary lien on the property. The 5 Star Texas Advantage Program does not even have a ‘First Time Homebuyer’ requirement too. Home buyers should be income eligible and should be buying a house in one of the program areas. The home buyers using the mortgage loan will be required to fill the online SETH Homebuyer Education Class.

    The mortgage rate for the 5 Star Texas Advantage Program can be published daily for the Lenders on the eHousingplus.com website. You can also visit the SETH Program Page. You are required to be an official Lender to offer this program to your customers. The 5 Star Texas Advantage Program is available for the entire State of Texas excluding the city limits of El Paso, Grand Prairie, and Travis County.

    VA Home Loans
    va home loan

    Numerous veterans will be eligible for the VA assistance program, which is known to provide extremely low financing and offer various other programs to effectively help the novices build a new home or purchase one with very little or sometimes even no down payment. Even though the VA Loans are offered by the private lenders, a small portion of this loan is granted by the Veterans Administration. For the novices, this means that the lender will offer even better terms on the mortgage note, and those people who could not have accumulated enough cash to buy a house can now successfully obtain the financing option.

    These are the following types of VA assistance programs which are available:

    1. Purchase Loans: These loans can be obtained when you want to build a home or purchase one. There is no private mortgage insurance or down payment which is required.
    2. Interest Rate Reduction Refinance Loan (IRRRL): this loan can be taken when one wants to refinance an already existing VA Home Loan.

    Whether or not you are eligible for VA assistance depends on the military services, the credit score, income, in addition to ownership of a legal Certificate of Eligibility (COE).

    MCC Program- The Texas Mortgage Credit Certificate Program

    mortgage-credit-certificate-program-mcc-icon-itok-pru5b4cz-impression-splendid-the-mcc-provides-homebuyers-with-income-tax-savings-30-interest-paid-their-loan-every-year

    The MCC Program allows customers to lawfully claim a tax credit of approximately $2000 for some portion of the mortgage interest payments. This credit could be claimed each year for the entire lifetime of the loan and also helps o diminish the overall federal tax liability.

    To qualify for the MCC Program, clients must:

    1. Agree on making this home the primary residence
    2. Qualify for the mortgage loan through a registered lender
    • Meet all the numerous income requirements
    1. Should not have owned a home for the last three years 

     

    FHA Home Loans

    fha home loan

    This program is completely managed by the U.S. Department of Housing and Urban Development. The FHA Home Loans program has a comparatively more flexible debt to the income ration and a low minimum credit score. FHA Home Loans is the ideal resource for those purchasing a house for the very first house. Also, FHA Home Loans is the program which should be approached by those who have very fewer savings to move on with, those people who have a credit problem, or even those who just want to save the extra cash to revamp their home they are in the process of purchasing. The FHA Home Loans are offered by the private lenders and are completely insured by the Federal Housing Administration which enables the lenders to present a better deal to the clients which include:

    1. Minimized Down Payments: as low as up to 3.5% of the entire purchasing price
    2. Low to No Closing Costs along with the seller paid closing costs and the lender paid options

    There is furthermore also an additional assistance for the first time house buyers.

     

    All of the above-mentioned programs offer complete assistance to those buying houses for the first time or even for those looking for a way to save their money to revamp the house they are looking to move into. Ready to get started? CALL (855) 866-8339

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  • Resolutions to Make If You Want to Buy a Home in 2018

    resolutions to buy a home

    Is one of the New Resolutions you made about buying a home? One of the most important factors which could make the home purchasing process a lot easier is to plan ahead of time. When you do so, you will be able to understand the process and choose the home which suits you the most. Planning well ahead of time also helps to discover some shortcuts which could be used in the home buying process. Here are some resolutions you should make to buy the dream home you always wanted.

    Resolution 1: Decide Exactly What You Want

    deciding what home to buy
    The very first and the easiest step is to decide what you actually want. You should be able to determine the where, when and what about this purchase. Some questions you should ask yourself are as follows:

    i. What type of house do you want?
    ii. What area would you like the house to be located in?
    iii. When would you want the purchase to be finalized?

    Because buying a new house is an extremely serious commitment you should definitely spend a lot of time in thinking about the whole process before making a decision. Choose a house in which you will be happy for several years to come.

    Resolution 2: Get Your Finances in Order

    saving to buy a home

    Once you know what exactly you are looking for, it is time for you to get realistic about what you can actually afford. How much money have you set aside for the down payment? What is your monthly budget for the mortgage going to be? Do you have the amount required for closing taxes and costs? Is your financial position stable? There are very few people who can purchase the house using cash. Therefore, start planning on getting a loan as well. Which leads us to our next resolution.

    Resolution 3: Get the Pre-Approval Before You Begin To Look for Houses

    get preapproved to buy a home
    Pre-Approval means speaking with a loan officer to have your credit files reviewed and getting the approval of the loan officer before-hand. If your loan officer believes you qualify for the given loan amount only then proceed to apply for a loan. Based on your income, debt, and other information, the lender is going to provide you with the pre-approval letter, which will effectively show your borrowing power.
    Even though it is not the final loan approval, these preapproval letters will be used to show that as a home buyer you have the ability to move forward with a home purchase successfully and is generally required to submit an offer on a home. This information is extremely important for homeowners as they are unlikely to accept offers which are probable to fail due to the finances. Loan officers are going to be very carefully reviewing your financial situation which includes your credit reports and other information and then s/he will suggest programs which meet all your requirements.

    Resolution 4: Use a LystHouse Real Estate Agent

    lysthouse real estate agent
    Purchasing and selling property is a highly complicated process. Even though at first it might seem that you can find the correct home by simply by searching for homes online ; houses differ, and so do the contract terms and conditions, finance options, inspection requirements and also the closing rates. This is where you would require the help of a LystHouse real estate agent. A LystHouse real estate agent has information about the in’s and out’s of the industry and knows how to effectively deal with the home seller to get you the perfect house in the price range you have. The best part is you’ll save money buying a home with a LystHouse real estate agent because LystHouse give .5% CASH BACK to first time home buyers. For those that are selling and buying, you sell for FREE when you buy your next home with LystHouse that saves you 3% on the sale side.

    By choosing and opting for the above mentioned real estate resolutions, you might be able to purchase the dream house you have always wanted in 2018!

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  • Holiday Home Safety Tips

    18 December 2017
    349 Views
    hanging christmas lights

    With all the fun, lights, decorations, and parties, it’s important to also stay safe and protect your home by taking some precautions so you can better enjoy this merry season. Below are a few Holiday Safety Tips so you can maximize your enjoyment of the most wonderful time of the year.

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  • The Difference Between FHA and Conventional Home Loans

    the difference between conventional and fha home loans

    There are a lot of different questions regarding the conventional mortgage loans from those who want to buy a house. They often question why conventional loans are so much harder to get than the FHA Home Loans. Another frequently asked question is regarding the major differences between the FHA Home Loans and the conventional home loans.

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  • 9 Gift Ideas for New Homeowners on Your Holiday List

    happy holidays

    Buying a home is a big deal, whether it’s your first one or your fifth. There are so many things to buy, clean, paint, remodel, and more. If you have new homeowners on your holiday list, you might be thinking of ideas of ways to give them what they actually might need.

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  • The Best Time to Buy a House (SPOILER ALERT) …. It’s NOW

    winter mid century modern home for sale

    Home sales mostly tend to rise with the temperature. Summer and spring are historically supposed to be two of the best times to consider buying a house. The weather is comparatively warm, the inventory high, and the school year is slowly winding down. However, those who purchase the house during these peak buying seasons will also have to face more competition and even higher prices. On the other hand, all the home buyers who can brave the cold weather might be able to benefit in numerous ways by buying a home now.

    Even though winter home buyers are generally going to come across a small inventory, they have a noticeable advantage as they would have a fierce competition to face. Furthermore, in January the prices are supposed to be at their lowest. In 2019, with the mortgage rates likely to increase, there are numerous reasons why January is considered the best time to buy a house. Following are some reasons why you should purchase a house in January.

    The spring of the home selling season begins at the very beginning of the year which is January. Right after the very first day of the year, there is a sudden burst of activity from those people who have been waiting for the holiday season to end. It is this time of the year when people start to post about home listing and the prices are comparatively lower.

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  • Negotiating Tips That Every Homebuyer Should Know

    negotiation

    As the old saying goes, in real estate, everything is negotiable. However, when we think about it, is it really?

    When you go to purchase a house, the one thing you are looking for is competitive pricing and terms. To achieve this, you need to understand when to begin the real estate negotiating process and when to stop. This begins with you being familiar with the real estate market, and also with the area.

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