All Blog Entries by Berkshire Hathaway HomeServices Texas Realty

 

 

Found 362 blog entries published by Berkshire Hathaway HomeServices Texas Realty.

One reason there’s a shortage of available homes to buy across the U.S. is that corporate investors are snapping up single-family homes to use as rentals or to flip back onto the market after making improvements. Institutional homebuyers (companies, corporations, LLCs) have always been around but a new report by the National Association of REALTORS (NAR) found their market share rose 84% in 2021. Based on deed records, institutional homebuyers accounted for 15% of residential purchases in 2021.

The record low interest rates of 2020 and 2021 and rising inflation – 8.5% in March 2022 – are ideal incentives for institutional homebuyers to turn to residential real estate for asset acquisition as a hedge against inflation. They buy properties to turn

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Farmhouse décor has been a trend for the last decade. The look combines functionality with a relaxed, lived-in feel. Pieces look slightly worn, rustic, and inviting. The ease of the farmhouse style is one of the reasons for its lingering appeal as designers look to modernize and update the look.

Modern Farmhouse style continues to emphasize a neutral color palette and sustainable materials, such as reclaimed wood and used brick but adds more sophistication to the theme. Capitalizing on the boho trend, the Modern Farmhouse style might include accent pieces in wicker or kilim rugs and pillows, warming the room and merging it with more traditional elements.

Contemporary designs such as Industrial and Scandinavian also get an update when mixed with

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With more stuff than you probably need or want, decluttering before a move can seem overwhelming, but you don’t want to pay movers to move or store items you don’t use, love or want. Here are some tips to make it quicker and easier:  

Start Small

Label moving boxes for selling, donating or throwing away. List items you want to sell online, or take them to a consignment store. When the donation box is full, take it to the Salvation Army or non-profit of your choice. Throw away broken items you’ll never repair and stained clothing you’ll never wear.

Pick a Schedule

How many days till you move? Devote an hour a day, a day to a room, or a weekend per floor – whatever your schedule permits. The goal is to make moving day faster and easier.

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Real estate is changing at a rapid pace and each year brings innovations to the industry. Pushed forward by thought leaders, the real estate industry embraces advancement of products and services quickly, all designed to stay ahead of the competition.

Here are a few tech trends for 2022 that are having people talking.

  • Immersive AR/VR for Property Touring – The pandemic forced a drastic change in the way agents marketed and showed properties to prospective buyers. New technologies are using Artificial Intelligence and Virtual Reality to allow buyers to “walk through” the properties with an immersive experience.
  • Digital Marketplaces for Buyers and Sellers – Nobul is leading the field with its digital marketplace. They offer transparency
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Everyone recognizes that this is a difficult housing market for homebuyers. With inventory shortages and low interest rates, buyers have seen a face-paced market with strong growth in home prices. As interest rates begin to rise, the pressure for buyers to settle on a new home and lock in their rate is even stronger.

With so many buyers vying for the same property, it’s important to write the best offer right up front. Here are 5 tips to help you write a strong offer.

  1. Show Financial Strength – You already know you need a preapproval letter but ask your lender to include an explanation about how they qualified you, bank statements, tax records, underwriting review.
  2.  Include a Proof of Funds Letter – Ask your lender to include a letter which
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Buying or selling a home can be a stressful situation. When you are having issues with your agent, it can become untenable. The most common complaint from clients is that their agent does not communicate with them enough and aren’t responsive to their needs. While all relationships can have differences, how do you know if it’s time to fire your real estate agent?

If the relationship has reached the point where it’s unproductive, it’s typically better for both parties to terminate the agreement. If you find yourself dreading a conversation with your agent or if you complain about them to others, then you are wasting valuable time by trying to salvage the relationship and it may be time to move on.

Firing a real estate agent is not as simple as it

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As the seller’s market continues to thrive across the country, sellers are wondering how to choose the right offer. The frantic pace of the real estate market has resulted in multiple offers on desirable properties. While this may seem like a great problem for sellers to face, how do they know that the buyer they choose can close on the home? Many times, sellers make quick decisions and hope for the best, even as home prices continue to climb.

This is where a kick-out clause can help.

A kick-out clause allows a seller to continue to market the home for sale after accepting a buyer’s offer with contingencies. It also outlines the conditions under which a seller can cancel, or kick-out, the contract if they get a better offer

Most real

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In 2020, Americans spent $420 billion remodeling their homes, according to a new report by The National Association of REALTORS (NAR) and The National Association of the Remodeling Industry (NARI.) They remodeled to upgrade outdated worn-out surfaces, finishes and materials (30%), add features and improve livability (20%), and just enjoy a change (16%.)   While most consumers (83% of those surveyed) said they would have remodeled regardless of the pandemic, most found that they were happy with the results (57%), satisfied (39%), and felt a sense of accomplishment (69%).  

Homeowners reported that the best results from remodeling were better functionality and livability (35%), durability (22%), and beauty (14%). A whopping 84% of homeowners said

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Do you need a home inspection when you buy a condominium or a co-op? According to BrickUnderground.com, home inspections are common for single-family homes, but they’re also increasingly being requested by urban homebuyers of condos and co-ops. Condo and co-op owners share common spaces such as elevators, lobbies, parking, and grounds, but where they differ is who’s responsible for maintenance and what the inspection can cover.   

Condos are privately-owned units within a community of other privately-owned units, explains Bankrate.com. Owners share common areas, but inside their apartments, they own the air space and interior walls of their units plus the structural components of the exterior walls. Condos are managed by a homeowner’s association

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If you’re a homebuyer without a home to buy, the ongoing housing shortage is making housing to buy less affordable by the day. Certain factors should change with time, which should provide you with a better chance to buy a home in mid-to-late 2022.

One factor that helped fuel the current housing market boom was record low interest rates. According to the latest weekly Mortgage Bankers Association survey, the average contract interest rate for a 30-year fixed-rate mortgage (FRM) under $647,200 was 5.20% with 0.63 points. That’s a quick rise from the record low recorded by Freddie Mac in December 2020 of 2.68% for the same FRM loan.  As a borrower you could ask your lender about a hybrid mortgage that gives you a lower adjustable rate for a fixed

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