Tag: buying a home

Happy Clients Realty Group - Ali Palacios > buying a home

Thinking about selling?

Posted on by Ali Palacios - Broker

So you are thinking about selling a home? The truth is that most home owner move every 5-8 years.

Here are the top reasons why people sell and move:

  1. Home is too small. Home owners often outgrow their first home. Increased family size is the main reason home owners say they need a larger home.
  2. Upgrade. People often seek new and energy efficient homes. Or they simply want what they don’t have and long for a bigger, more expensive and grander, upscale home.
  3. Fix. Owners might believe they made a mistake in purchasing their present home. Maybe they thought they could get by without a back yard but now want a garden or a pool. At times the small things that bothered you from the beginning, become a bigger issue later.
  4. Job transfer. Relocation makes it necessary for many to pull up roots and move. If the commuting distance exceeds an hour, most people would prefer not to spend two hours in traffic every day.
  5. Bring on the new. Sometimes you just need a change
  6. Personal Relationships. Marriage can mean one of the parties will need to sell, especially if both owned homes prior to the commitment. On the other hand, break-ups/divorce cause owners to sell as well. Death in the family will also cause financial issues that might cause the family to sell.
  7.  Neighborhood changes. The neighborhood might have changed for the worse, economically, socially or physically.
  8. Neighbors. Unfortunately you won’t always click with people and sometimes these are your neighbors.
  9. Health problems. Physical ailments in aging might make it difficult to climb stairs in a two-story, so a one-story home may be more practical. At times home owner will need to transition to an assistance living facility.
  10. Climate. Sometimes seller simply seek warmer or cooler temperatures.
  11. Empty nest. The kids have grown up and moved out. The owners want a smaller home. The older you get, the harder it is to keep a big house clean.
  12. Deferred maintenance. Some people don’t want to put on a new roof, replace the siding or buy a new furnace, so it’s easier to buy a newer home.
  13. Closer or further from family. Home owner at times would like to spent more or less time with family members.
  14. Schools. Changed in school can cause home owner to move. Maybe they’d like to be zone to a particular school or they no longer feel safe in their current school zoning?
  15. Retirement. Active-adult communities are attracting many buyers over the age of 55. These planned communities have golf courses, club houses, workout facilities, week-end social gatherings, back-yard barbecue parties and more, all designed for people over 55.
  16. Home improvement perfection. A small segment enjoys fixing up and selling, spending time, money and effort on remodeling, and once the work is completed, these people become restless because there is nothing left to do.
  17. Cash in equity. Some home owners can’t stand the fact their home is worth all that money because that money is not in their pocket.
  18. Lifestyle change. Others are simply tired of owning a home and would prefer to travel, pursue a hobby or be less responsible. The goal is to sell the home and travel the world.
  19. Cost of running a house. Changes in job or position can cause financial strain and the home is no longer affordable.
  20. Moving to study. Academic goal will sometime force a seller to sell sooner than expected. Proximity to the school might be a consideration.

What ever the reason, we are here to help when you are ready.

 

We are hiring smiling faces

Posted on by Ali Palacios - Broker

 

Are you looking for change? Are you a new agent that would like to be part of a group that supports and helps each other prosper?

We are a group of agents that strive to share knowledge and help each other grow. Education is key.

We are seeking like minded agents that would like to be part of our team.

For more information contact Ali Palacios, Broker/Owner at ali@happyclientsrealtygroup.com, 832-418-0670.

Our  VISION

At Happy Clients Realty Group our goal is to serve each client with utmost professionalism, integrity, and outstanding customer service. Our fiduciary relationship with our clients is the highest priority. We work diligently to help them achieve their dreams. We educate and simplify the many challenges of buying and/or selling a home. We provide consistent communication and prompt follow-thru from the beginning of the transaction to the end, and beyond. We utilize our outstanding negotiating skills and vast knowledge of the Houston metro area to the benefit of our clients. We are a team of talented professionals devoted to clients.

Thinking about purchasing a home?

Posted on by Ali Palacios - Broker

Are you ready to buy a home but don’t know where to start? I know it can be overwhelming. Here are a few tips to get you started.

  1. Let’s chat. The best way to help you through the process is to talk about your goals and timing. Let’s meet and discuss your goals and plans. It’s never to early to start this process. In fact, it’s better to start up to a year before you’d actually like to move. This will allow you time to make corrections and get financially prepared for the move.
  2. How much can you afford? There is no point going to go see homes without knowing your budget. Take some time to review your income vs. debt and come up with a comfortable number. Keep in mind that most lender prefer that you payment amount to no more than 30% of your income.
  3. Get pre-qualified. This is the most important step. Speak to a lender about qualifying. The lender will review your finances and credit to determine your ideal sales price. The lender will also review loan options and interest rates. Don’t forget to ask about down payment assistance programs. If you’d like a referral I’d be happy to provide a list of great lenders.
  4. Let’s go home shopping! Once you are pre-qualified we can go look for a home. No home is perfect but typically if it meets 80% of your wants, you’re on a good track.
  5. Make an Offer. Once we have found the right home I will run numbers for the area and we will come up with an offer together. The offer encompasses several factors. We will go through them one by one. It’s important you feel comfortable with the offer presented.
  6. Once you offer is accepted I will them guide you through the rest of the sales process; which includes inspections, negotiating repairs or credits, appraisals, financing, final walk through, closing, etc.

The overall process can take a few months and as your agents I’d be with you during the entire process.If you have any questions please feel free to contact me anytime.

 

 

 

Vocabulary: Agency & Agency Relationships

Posted on by Ali Palacios - Broker

The term “agency” is used in real estate to help determine what legal responsibilities your real estate professional owes to you and other parties in the transaction.

The seller’s representative (also known as a listing agent or seller’s agent) is hired by and represents the seller. All fiduciary duties are owed to the seller, meaning this person’s job is to get the best price and terms for the seller. The agency relationship usually is created by a signed listing contract.

The buyer’s representative (also known as a buyer’s agent) is hired by prospective buyers to and works in the buyer’s best interest throughout the transaction. The buyer can pay the agent directly through a negotiated fee, or the buyer’s rep may be paid by the seller or through a commission split with the seller’s agent.

A subagent owes the same fiduciary duties to the agent’s customer as the agent does. Subagency usually arises when a cooperating sales associate from another brokerage, who is not the buyer’s agent, shows property to a buyer. The subagent works with the buyer to show the property but owes fiduciary duties to the listing broker and the seller. Although a subagent cannot assist the buyer in any way that would be detrimental to the seller, a buyer customer can expect to be treated honestly by the subagent.

A disclosed dual agent represents both the buyer and the seller in the same real estate transaction. In such relationships, dual agents owe limited fiduciary duties to both buyer and seller clients. Because of the potential for conflicts of interest in a dual-agency relationship, all parties must give their informed consent. Disclosed dual agency is legal in most states, but often requires written consent from all parties.

Designated agents (also called appointed agents) are chosen by a managing broker to act as an exclusive agent of the seller or buyer. This allows the brokerage to avoid problems arising from dual-agency relationships for licensees at the brokerage. The designated agents give their clients full representation, with all of the attendant fiduciary duties.

A transaction broker (sometimes referred to as a facilitator) is permitted in states where nonagency relationships are allowed. These relationships vary considerably from state to state. Generally, the duties owed to the consumer in a nonagency relationship are less than the complete, traditional fiduciary duties of an agency relationship.

Source: Realtor.com

Texas Real Estate Commission Consumer Protection Notice Texas Real Estate Commission Consumer Protection Notice

Flan Rum Cake…yum!

Posted on by Ali Palacios - Broker

I’ve tried lots of flan/cake combos. Normally it’s combined with chocolate cake or a butter cake. I thought, why not combine my two favorites!

  • 9 Eggs
  • 1 box Duncan Hines butter cake
  • 1 small can dulce de leche
  • 1 stick of butter (melted) + enough to coat the bundt pan
  • 1 can condensed milk
  • 2 can evaporated milk
  • 2/3 cup + 2 tbs of dark rum
  • 1 tbs vanilla

Pre-heat oven to 325. Butter a Bundt cake pan. Mix dulce de leech with 1 tbs of dark rum. Pour into buttered bundt pan. Mix cake mix, 1 stick of melted butter, 3 eggs and 2/3 cup rum. Pour cake batter into the pan. Mix condensed milk, evaporated milk, 6 eggs and vanilla. pour over cake batter. Place filled Bundt pan in a 9×13 pan filled with hot water about 2 inches up the side of the Bundt pan. Place in oven and cook until cake is golden brown and baked through. Test for doneness by inserting toothpick in the cake. If it comes out clean, it’s done.

Remove from oven and water bath. Let cool for 15 mins. Invert onto a cake plate. Refrigerate for at least 2 hours. You can decorate with a little extra dulce de leech. Enjoy!

Note: I’ve tried so many variations. I’ve used a butter cake that I’ve flavored with toasted coconut and coconut extract or coconut rum. If you’d prefer caramel to the dulce leche, that’s an easy substitution. Instead of pouring dulce de leche in the pan, cook 1 cup of sugar in a pan until golden brown. Pout into the pan

You can also flavor the flan. Chocolate cake with coconut flan is fantastic. The options are endless.

Lentils and Rice with Onions (Mujadarrah)

Posted on by Ali Palacios - Broker

  • 3 tablespoons olive oil
  • 3 medium onions, sliced
  • 3 1⁄2cups water or chicken broth
  • 1 cup lentils
  • 1 cup rice
  • 1 teaspoon salt
  • 1 teaspoons cumin
  • 3 garlic cloves
  1. Heat olive oil in skillet, saute the onions with 1 tsp cumin until lightly browned. Add garlic and sauté until soft
  2. Remove 1/3 of the onions and set aside for topping
  3. Continue cooking the rest of the onions until dark brown and black in places.
  4. In the meantime, bring water to a boil in a saucepan, add the lentils, reduce heat, and cover, simmering for 15 minutes or until tender. I add salt to the water.
  5. To the lentils, add the 1/3 lightly browned onions, rice, salt, and remaining.
  6. Cover and simmer 15 minutes or until rice is tender.
  7. Remove from heat and stir in the well-browned onions.
  8. Cover and let stand for 5-10 minutes.

So yummy!

I moved

Posted on by Ali Palacios - Broker

I moved.

But, not to a new house. I moved to a new company. My own company. 🙂

I’m now an independent broker with Happy Clients Realty Group.

Not that the brand an agent/broker works at is entirely important for you. The brand that really matters is the agent/broker. It’s your real estate agent who’s ultimately responsible for providing you the best results and quality service.

As usual you can and should call me. Anytime. For any real estate need or question.

Here are some things that might come up. If you want more insight on any of these, give me a ring, or reply to this e-mail, and I’m happy to get into more detail with you.

1. You just want to go see a house that is on the market…

(Yes, even if you aren’t serious about buying it. I won’t be pushing you to buy the house. I will be protecting you from making any regrettable decisions. Unfortunately, I hear from people after they got swept up in the moment and bought a house, and they are feeling regret, or have questions about the process or their decision. At that point, I can’t chime in. Because another agent represents them.)

2. You want to know how much your home is worth.

(Yup, I know all about all of those websites that show you the value of your home. And I know how inaccurate they are. Whether you are just curious, are wondering if it makes sense to sell, or need to get a handle on your net worth…just call me. I will give you an accurate value of your home. My pleasure. Not a bother at all.)

3. You are considering a home improvement project.

(Almost any project you choose to do will certainly raise the value of your home. But, will it raise the value more than it cost you? Better to know whether or not it is money worth spending before you even start.)

4. You are thinking of refinancing.

(Being in the business, I get to know who the good lenders are, and who the not-so-good ones are. I hear way too many horror stories from people about the process being horrendous with such-and-such bank. Or that they felt duped because they were quoted one rate, and were ultimately given a higher rate. Just call me, and I’m glad to give you the names of some people I would trust handling your needs.)

5. You don’t even work in my area.

(Even if you live hundreds of miles away, I can help… before you decide to buy or sell a house. I can’t chime in once you are represented by an agent. But if you call me before, I can remain involved and add my two cents, as long as I have referred you to the agent you use. And I can really help find you a great agent in your area. It’s not always the one with all the signs and sales! Let me do some digging before you just hire anyone.)

————-

Like I said, this is not a thorough list. I just wanted to give you a sense of some things you may not have wanted to “bother” me with, that I would never consider to be bothersome.

I’m excited about starting my own company and I wanted to share! Thanks to all of you for all of the encouragement and support you have already sent my way. It is much appreciated.

I hope all is well with you!

Ali Palacios, GRI, ABR, MCNE, TAHS, ASPRE, HARRL, CSMS
Broker
Happy Clients Realty Group
ali@happyclientsrealtygroup.com
Mobile – 832-418-0670
www.ilovehappyclients.com

P.S. Please make sure to make note of my new contact info!

Common myths that stop renters from becoming buyers

Posted on by Ali Palacios - Broker

I’m a real estate agent who specializes in helping people who are renting become homeowners. I can’t and won’t tell you that buying a house is the best choice for you. (It’s not for everyone.) But there are a few common myths or misunderstandings that stop people who should buy a house from doing so.

  1. You can’t afford to buy a house. If the reason you’re renting is because you simply think you can’t afford to buy, you can know pretty quickly and easily. All it takes is reaching out to a mortgage professional to get “pre-approved” for a mortgage. They’ll not only let you know if you can afford to buy, but also how much you can afford to spend. Maybe you can even qualify for a mortgage and find a house that only costs you as much or less than you’re already paying in rent every month!
  2. You could never save enough for a down payment. But what you may not know is there are mortgages out there that require low down payments. In fact, depending on your rent, a down payment could be equivalent to having to pay a landlord: security deposit, last month’s rent and possible pet deposits…before you can move in.
  3. The cost of upkeep and repairs are too high. True enough. You aren’t responsible for the upkeep or repairs in your rental…But you also have little or no say about what gets fixed, when it gets fixed, or the quality of the work. And you don’t have any say in making improvements
  4. You don’t want all their money to be tied up in a house. People claim they want their money to be “liquid” (available to use), or that it’s better off being invested another way, making them more money. That’s OK if the person has a lot of liquid cash tied up in a way that’s actually making them money, or they truly need the money they have to be available for some other reason. It’s really a personal decision when it comes to this.
  5. The market might crash. They’re afraid that they’ll buy a house, and then the market will decline and it won’t be worth as much as they paid for it. Sure, the market could “crash”. Or it might not “crash” (that’s pretty drastic). Real estate values go up and down. Historically, values go up. They might dip, but then they do eventually surpass where they’ve ever been before.
  6. You want the freedom to pack up and go. Good thought but most people aren’t just packing up and moving to Bali (or wherever else) making a living online (or doing whatever else). Sorry, not trying to be a buzzkill…
  7. You have poor credit. If this is your main reason for renting, you might be in luck…There are lenders who have mortgage products for people with lower credit scores. And if your credit score is too low, and you can’t qualify for a mortgage at this time, you can repair your credit and raise your score in a short period of time.
  8. It’s too soon or too late to buy a home. There’s never a perfect time to buy a house. Either they still have too many months to go on their lease, or not enough time before they have to sign another one. There are a couple of ways to deal with this: Can you break your lease with little or no penalty? If so, great, you have a lot of flexibility to buy a house or If you can’t break your lease without a hefty penalty, then you just need to plan ahead.
  9. The process is too overwhelming. Actually, buying a house can be complicated and overwhelming. But it doesn’t have to be. The problem for most people is they try to do a lot of the process alone. Maybe it’s to avoid having to deal with real estate agents…But when you work with a real estate agent who is truly on your side the process isn’t overwhelming or complicated.
  10. I can’t get the home I desire. Unfortunately, everyone has a budget. Even people with the highest budget you can imagine go through the same thing. Everyone seems to want just a little bit more than they can afford at the moment. It’s simply human nature. To quote Jack Welch: “Deal with reality as it is, not as you wish it to be.”
  11. It’s too much of a financial commitment. It certainly is a financial commitment. But so is renting! When you sign a lease, you’re committing to pay someone a certain amount, each month, for a period of time. There are penalties for breaking a lease or for not paying.

If you already know the benefits of buying a home, and just aren’t sure where to begin, just give me a call or send me an email and I can get you pointed in the right direction.

There are a lot of ways and places to get pre-approved, but I have a few lenders that I trust and recommend. Feel free to reach out to me.

 

Ali Palacios, GRI, ABR, MCNE, TAHS, ASPRE, HARRL, CSMS
Broker
Happy Clients Realty Group
ali@happyclientsrealtygroup.com
Mobile – 832-418-0670
www.ilovehappyclients.com

Will higher mortgage rates affect your ability to purchase?

Posted on by Ali Palacios - Broker

Recently, people have been asking if mortgage interest rates will be going up.

That’s a good question. And it’s good to be concerned about it if you’re considering buying a home in the near future.

There’s no way to definitely answer this, let alone how much the rates will go up. They go up and down constantly. If they go up (or down) a little bit, that won’t really affect you all that much.

Deep down, the concern is of course whether the rates will go up a lot… enough to impact how much home you can afford, or to even be able to qualify for a loan at all.

The one thing we can say for sure is that mortgage rates have been historically low for quite some time now. Literally for years and years.

At some point, they will probably go up a good amount. One could even argue that they need to go up. But let’s not get into that debate…

So let’s get into what the core fears are when people are asking about this…

If rates go up, a buyer could:

  • Pay more for the same house they could have gotten for less per month if they had bought before the rates went up.
  • Not be able to afford the same homes on the market they could have afforded before rates went up.
  • Possibly not even qualify to buy a house at all, depending on their financial situation.

So, what is an agent to advise?

To say that, “You should buy now, or you will miss out due to interest rates rising…”, can lead to fear-based decision making. That isn’t something a good real estate agent makes a habit of doing with their clients. Or at least shouldn’t.

Besides, the interest rates may not go up enough to affect you, if at all.

So, the best way to look at it is this…

If the thought of interest rates going up concerns you…buy now. Or at least sooner than later. Not because of fear that rates may go up. But because you are dealing with a known quantity, as opposed to the unknown. And because the mere fact that you are concerned speaks volumes about what you want to do deep down inside.

This is all pretty general advice…

If this has been concerning you, give me a call, or just reply back. I’d be happy to hear more about your situation and needs, so that I can advise you more specifically.

P.S. If you’re thinking about buying sooner than later, it might make sense to lock in an interest rate now. If you have a mortgage advisor, consider discussing this with him or her. If you don’t, just ask me and I am glad to recommend a great mortgage lender.

Would you please bother me?

Posted on by Ali Palacios - Broker

“I didn’t want to bother you. I know how busy you are…”

I hear that from past clients, friends, and even family, all the time.

But, at that point, it’s too late. And I’m not talking about it being too late for me to make money…

I’m talking about mistakes having been made, and regrets seeping in. And, at that point, there is nothing I can do to help.

So, it just occured to me that it would probably help if I just reached out to you, to let you know that you can and should call me. Anytime. For any real estate need or question. Before you find yourself in the same position as some other folks.

I know how busy you are, so I won’t go into every detail, of every scenario I’ve seen happen in this e-mail.

Here’s a short list, just to give you an idea…

But please, if you want more insight on any of these, give me a ring, or reply to this e-mail, and I’m happy to get into more detail with you.

1. You just want to go see a house that is on the market…

(Yes, even if you aren’t serious about buying it. I won’t be pushing you to buy the house. I will be protecting you from making any regrettable decisions. Unfortunately, I hear from people after they got swept up in the moment and bought a house, and they are feeling regret, or have questions about the process or their decision. At that point, I can’t chime in. Because another agent represents them.)

2. You want to know how much your home is worth.

(Yup, I know all about all of those websites that show you the value of your home. And I know how inaccurate they are. Whether you are just curious, are wondering if it makes sense to sell, or need to get a handle on your net worth…just call me. I will give you an accurate value of your home. My pleasure. Not a bother at all.)

3. You are considering a home improvement project.

(Almost any project you choose to do will certainly raise the value of your home. But, will it raise the value more than it cost you? Better to know whether or not it is money worth spending before you even start.)

4. You are thinking of refinancing.

(Being in the business, I get to know who the good lenders are, and who the not-so-good ones are. I hear way too many horror stories from people about the process being horrendous with such-and-such bank. Or that they felt duped because they were quoted one rate, and were ultimately given a higher rate. Just call me, and I’m glad to give you the names of some people I would trust handling your needs.)

5. You don’t even work in my area.

(Even if you live hundreds of miles away, I can help… before you decide to buy or sell a house. I can’t chime in once you are represented by an agent. But if you call me before, I can remain involved and add my two cents, as long as I have referred you to the agent you use. And I can really help find you a great agent in your area. It’s not always the one with all the signs and sales! Let me do some digging before you just hire anyone.)

————-

Like I said, this is not a thorough list. I just wanted to give you a sense of some things you may not have wanted to “bother” me with, that I would never consider to be bothersome.

So, would you please “bother” me? It will only bother me if you don’t!