Avoid Foreclosure With These Proven and Tested Tips

Financial problems have prevented a lot of people from paying their mortgage obligations for a number of months, even years. This delinquency in paying mortgage loans often resulted in lending institutions, such as banks from taking full authority of the property, and this legal process is dubbed as a foreclosure. It is a painful sight to see their beloved homes gone after years of hard work and religiously paying obligations. In some instances, they run out of options and decided to sell their house just to get a portion of what they paid.

Dependable Homebuyers | Avoid Foreclosure With These Proven and Tested Tips

While foreclosure is a tough life chapter, there are actually lots of ways to stop or avoid a foreclosure. In an article published by Money Crashers, there are over 676 thousand homes that went into foreclosure, roughly that’s 1 of every 200 homes in the country. Read the article below to learn more about avoiding foreclosure.

How to Stop & Avoid Foreclosure on Your Home

Image Source: Money Crashers

In 2017, more than 676,500 American homes went into foreclosure, according to Attom Data Solutions. That’s roughly 1 out of every 200 homes in the country. This is better than the peak rate in 2010 when more than 2 out of every 100 homes were in foreclosure, but it still represents hundreds of thousands of people being forced out of their homes because they couldn’t meet their mortgage payments.

Homeowners can end up in this situation for many different reasons. Some lose their jobs and can no longer make ends meet. For others, a health crisis leaves them with hefty medical bills that eat up their available funds. And some simply make the mistake of buying more house than they can afford, so that even a small change in their finances is enough to put the payments out of their reach.

Raising Extra Cash

If you haven’t fallen behind on your mortgage payments by more than a month or two, you still have a chance to get back on track. If you can manage to raise enough extra cash, you can make up the missed payments and save your home from foreclosure.

Here are some ways to raise money in a hurry.

Slash Your Expenses

Start by cutting out all the extras in your budget, if you haven’t already. Cancel your cable TV, scale back to a cheaper cell phone plan, drop your gym membership, stop drinking bottled water, and quit going out to eat, even if it’s just for coffee in the morning.

Refinancing

Some people wind up in trouble because of adjustable rate mortgages that have a low, manageable payment for the first few years, then suddenly jump up to a level that’s out of reach. Some of the worst offenders are interest-only loans, which become much more expensive when you have to start paying principal as well as interest. Other people have fixed-rate mortgages, but the interest rate is very high – perhaps because they had poor credit, or perhaps because the rates just happened to be high at the time. See full post here…

Foreclosure reflects your capacity to settle monthly mortgage obligations. That is increasing your income streams help in avoiding unsettled balances leading to foreclosure. Another good option is thru refinancing, allowing you to lower your monthly payment to manageable levels. These and more could help you stop and avoid home foreclosure.

Elizabeth Weintraub of The Balance gives us the best ways to stop a foreclosure. Check out the article below to learn more.

Best Ways to Stop a Foreclosure

Photo Credits: The Balance

Homeowners who are hoping to stop foreclosure often dread dealing with the facts that got them to the place of being in foreclosure. Dealing with those facts can be depressing. If they think back to when they first bought that home, losing the home was probably the furthest thing from their mind. Few homeowners actually plan to go into foreclosure.

Reasons for a Pending Foreclosure

Apart from those who knowingly participate in mortgage fraud — with the intention of never making a single payment — most homeowners face sudden extenuating circumstances that force them to stop making timely mortgage payments. Here are a few of those reasons:

  • Job loss/unexpected unemployment
  • Sudden illness or medical emergency
  • Death in the family
  • Divorce/loss of a second income
  • Excessive debt obligations

Ways to Stop a Foreclosure

The best way to stop a foreclosure in California, for example, is to prevent the filing of a Notice of Default. We mention this state because 35 million people live in California and California is the land of real estate religion. Lenders do not want to foreclose but will file a Notice of Default to protect their interests, if necessary. If you know you are unlikely to meet your mortgage obligation, the first thing you should do is call your lender.

Don’t put it off, be embarrassed or ignore letters from your lender because those responses will make the situation worse, not better. Depending on your particular situation and hardship circumstances, here are some loan modification options your lender might propose to you:

  • Time to make up your payments: Lenders might agree to wait before taking legal action against you and let you work out a repayment plan that is affordable for you. This is called forbearance.
  • Forgiving a payment: If you can agree on a way that you will be current after missing a payment or two (without the means to pay it back), the lender might give you a break and waive your obligation. This is called debt forgiveness, and it rarely happens.
  • Spread out the missed payments over a longer term: For example, if your payment is, say, $1,200 a month, the lender might let you add $100 a month to each payment for a year until you are caught up. This is called a repayment plan.

Options After a Notice of Default

When the lender files a Notice of Default, your options are limited. That is why it is better for you to call your lender before falling behind on your payments because lenders are often reluctant to work out repayment schedules after foreclosure proceedings have been commenced. Click here to read the rest of this post…

The best way to avoid foreclosure is to know the reasons. That way you’ll know what to avoid and how to completely avoid them. Also, do research as to how foreclosure works in the country you are into. Always be mindful of your obligations.

In case you’re already facing foreclosure, here are the things you can actually do to slow down the process according to Tara Mastroeni in her article at Forbes.com. More information about the topic below.

Facing Foreclosure? Here Are 5 Things You Can Do To Slow Down The Process

Image Source: Shutterstock

Going into foreclosure is undoubtedly scary. However, receiving a Notice of Delinquency in the mail doesn’t automatically mean that you’re going to lose your home. There are things that you can do to slow down the process and get back on track or, at the very least, to leave your financial record in the best shape possible. Keep reading to learn more about your best options.

What is foreclosure?

By law, signing a mortgage means that you’ve agreed to pay the lender back, in full, for the loan and you’ve agreed to do it according to their terms. When you stop making payments, you’ve essentially breached that contract. As a result, the lender has the right to take back your home and try to recoup the investment. The process of them repossessing your home is known as foreclosure.

If you’re a few days late on your mortgage payment this month, don’t worry. The bank won’t come for your house right away. Most lending institutions offer a 15-day grace period that may or may not have a late fee attached. It’s only after you haven’t paid your mortgage for a period of 90 days that foreclosure proceedings will start. From there, the process can take anywhere from two to twelve months, depending on where you live. Since the process is so long, you have time to make changes and to hopefully remain in your home.

How to slow down the process:

Educate yourself

When you’re nearing foreclosure, the first thing you’ll want to do is to educate yourself on what’s happening. Take a deep breath and read over everything you’ve received from the lender, including your mortgage itself. Many initial notices of late payment will contain information on foreclosure prevention options. Later mail might contain important notices about the foreclosure process and pending legal action. No matter what it says, it’s better to be informed.

Call your lender

Next, get in contact with your lender as soon as possible. The reality is that foreclosure is a very time-consuming and costly process. Most lenders would rather work with you to find a solution than actually repossess your home. Honest communication and a willingness to work together will go a long way towards helping you get back on steady ground. Learn more here…

As mentioned, foreclosure can be avoided by everyone, even those who are facing financial problems. They must have the discipline and open-mindedness to add additional income streams, do refinance among others. The process does not happen overnight, so you have the chance to settle your obligations before the banks take full authority over your property.

Foreclosure is a painful process, but could also be an opportunity for home buyers and investors to buy homes at a discount. There are lots of them in foreclosed listings. If you need some help in finding good deals at foreclosures, Dependable Homebuyers is the right person to seek help. They have years of experience in finding the best deals in a list of foreclosed properties. To know more, visit https://www.dependablehomebuyers.com and let’s get started.

The post Avoid Foreclosure With These Proven and Tested Tips appeared first on Dependable Homebuyers

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Planning To Start A Business in San Antonio TX, Check Out These City’s Awesome Business Facts

Being the second-most-populous city in the state of Texas only mean one thing; there are lots of economic activities in the city on a daily basis. Apart from its increasing population, thousands of tourists flock the city on a weekly basis to visit San Antonio’s top attractions which include The Alamo, San Antonio Missions National Historic Park, among others. Both local and tourists activities have contributed to the city’s economy big time.

As mentioned above, San Antonio is a big city with a huge number of population, which in turn allowed the city to enjoy the country’s largest population boom, and the city’s business is a big reason why. Candace Evans of Forbes wrote about this story.

San Antonio Is Enjoying The Country’s Largest Population Boom — And Business Is A Big Reason Why

Image Source: Loop Images/UIG via Getty Images

We know that Midland’s home prices are exploding, mostly thanks to the boost west Texas crude oil is enjoying. But where is everyone moving?

To Texas, of course, and specifically to San Antonio. A recent U.S. Census Bureau report tracked the nation’s fastest-growing cities between 2016 and 2017. San Antonio was the clear winner, with the largest population gain in the country during this period.

Other cities experiencing population gains in that time, according to the U.S. Census Bureau: Phoenix, Arizona (24,000 population growth in 2017); Dallas, Texas (18,900); Fort Worth, Texas (18,700); Los Angeles (18,600); and Seattle, Washington (17,500). All this and Amazon hasn’t yet announced where the company will land their second headquarters.

Of course, I have told you how hot North Texas is, and I’m just not talking about the weather. Lower home prices — you can have a Fort Worth palace for $1 million — open spaces, a growing urban vibe, a can-do spirit and business-friendly attitudes are drawing these people, as are the jobs. Texas is the top go-to state for business, according to CNBC, which scored all 50 states on more than 60 measures of competitiveness, with input from “business and policy experts, official government sources, the CNBC Global CFO Council, YPO and the states themselves.

And who cares about living on the coast if you cannot afford it? Folks from the Bay area, Los Angeles and San Diego are leaving paradise and heading for Texas. Dallas-Fort Worth was one of the top destinations for “domestic migrants” (what a phrase!) from California in 2017, according to a recent Trulia study. In the first quarter of 2017, 1,051 Californians became Texans, or about 5.5%. The largest destination by choice was Las Vegas, which snagged 8.1% of those interstate migrants during the first three months of 2017. See full post here…

San Antonio’s economy is booming and going very strong, all thanks to the efforts of the huge workforce population. There are also lots of growing businesses, as well as start-up businesses in different sectors in the past year or so. One factor of this population growth is the exploding home prices in the San Antonio area.

Speaking of growing businesses, Cameron Albert-Deitch of Inc listed the 10 fastest-growing companies in San Antonio for 2018. Check out which companies made to this prestigious list.

The 10 Fastest-Growing Companies in San Antonio of 2018

Don’t mess with these 10 fast-growing companies from the Lone Star state.

Image Source: Inc.5000

Everything’s famously bigger in Texas. Its economy is the second-largest in the country, roughly equivalent to the size of Canada’s economy. And while it’s massive in the gas and oil industries, Texas’s business prowess extends all the way to its fast-growing startups. Just consider this year’s Inc. 5000 list of the 10 fastest-growing companies in San Antonio, which average more than 200 employees and $10 million in 2017 revenue.

Time to meet them:

10. Re/max Military City

2018 Inc. 5000 rank No. 2156 Three-year growth 206% 2017 revenue $2.5M

The real estate group helps Texas veterans and active military members navigate the VA loan and military benefits processes while finding housing. Founder Levi Rodgers is a former Green Beret, and many of his 28 staffers have military backgrounds.

9. Vighter Medical Group

2018 Inc. 5000 rank No. 2056 Three-year growth 217% 2017 revenue $8.7M

Vighter–pronounced like “Fighter”–helps connect physicians, nurses, and other medical staffers to jobs around the world. Clients include federal agencies like the FBI, Department of State, and Department of Defense.

8. Topbox Solutions

2018 Inc. 5000 rank No. 1914 Three-year growth 234% 2017 revenue $2.4M

Need an IT crew? This company, which has doubled in employee headcount since 2014, provides support for small and midsized businesses. It focuses on short-term contracts–after all, most small businesses need flexible budgets.

Browse the entire list here…

What is even more amazing is that the majority of the companies on the list are from different sectors; IT firms, real estate, medical. This is a very good sign as various sectors in the city are being represented and diversified. There are also a wide array of companies to choose from for those who are job hunting.

Apart from these established companies, there are also business start-ups in San Antonio that are worth mentioning. Joshua Fechter of My San Antonio compiled the list of these businesses people of the city must look forward to.

18 New Stores and Restaurants Coming Soon to San Antonio

Image Source: My San Antonio

A 54th Street restaurant and bar, two doughnut shops and at least one outlet store are among 18 new stores and restaurants coming to San Antonio in the coming months, state records show.

San Antonio’s eighth 54th Street Restaurant & Drafthouse will open at 9907 Interstate 10 West near the University of Texas at San Antonio, according to construction records filed with the Texas Department of Licensing and Regulation. Construction on the restaurant, which serves American casual cuisine and has more than 50 varieties of beer, is slated to end Jan. 1.

Two doughnut chains are expanding their footprint in the area, records show. Shipley Do-Nuts, which has 18 locations in the San Antonio area, plans to add another store at 6362 De Zavala Road while Dunkin’ Donuts, which has five stores in the city, will open a sixth at 10029 San Pedro Ave.

And Macy’s plans to open its third Backstage outlet store at its North Star Mall location June 16, the company said in a news release Monday. The retailer currently has Backstage stores at The Rim shopping center and Ingram Park Mall.

Those aren’t the only changes in San Antonio’s retail landscape.

Taco Cabana announced it will open three new stores this summer. The locations formerly were Pollo Tropical locations.

Convenience store chain QuikTrip Corp. plans to open about 60 stores in San Antonio, Kevin Thornton, QuikTrip vice president of operations overseeing the San Antonio-Austin market, told the Express-News in May.

And IKEA still aims to open its 289,000-square-foot store in Live Oak in spring 2019, despite pulling out of a store in North Carolina. Click here to read the rest of this post…

With new stores, restaurants, and businesses scheduled to open in San Antonio in the next months, the economy is certainly booming in the upcoming months as well. Some of these businesses will be seen to change San Antonio’s retail landscape. These businesses will also provide jobs to thousands of city residents. To sum it up, doing business in San Antonio is definitely worth a try.

With the largest population boom happening in San Antonio, it could be the perfect time to start a business in San Antonio. Make that dream of yours into a reality. If you’re in need of capital and is looking to sell your house fast to raise the needed money, Dependable Homebuyers can help you find the right buyer for your home and raise the needed capital for your business venture. Visit https://www.dependablehomebuyers.com/texas/san-antonio/ and we look forward to hearing from you.

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Get To Know More About San Antonio TX With These Cool Trivia

The city of San Antonio in Texas is the second most populous city in both Texas and in the Southern United States. It is also the seventh most populous city in the country. This means that San Antonio is a busy city with millions of people roaming around the city (both locals and tourists). In addition, San Antonio has received much success and rapid growth over the past ten years (and counting). Its deep history, Spanish influence, and a popular tourist destination make San Antonio among the best cities to live.

Get To Know More About San Antonio TX With These Cool Trivia

Planning to move into the city? There are still lots of important things you need to know about San Antonio, starting with these facts that will surprise you according to Tanner Saunders of Matador Network. Check out these awesome trivia below.

15 Facts about San Antonio that Will Surprise You

1. San Antonio is big. Like, really big.

Image Source: Nan Palmero

In fact, it’s the second-biggest city in Texas. By area, it’s twice the size of Chicago. With a population of over 1.4 million, it’s the seventh-largest city-proper in the country and is gaining on all six above it. This isn’t some second-tier cowboy outpost — it’s a major metropolitan hub.

2. We’re home to the first modern art museum in the Southwest.

The McNay Art Museum brought modern art to Texas in 1954, when Marion Koogler McNay, an art teacher and heiress to an oil fortune, donated her San Antonio mansion to the art cause. These days, it’s home to works from some of the best artists of all time, like Picasso and Georgia O’Keeffe. Then there’s the awesome local art — which you probably won’t find at MoMA — like the contemporary Latino prints and Southwest art collections. All in all, there are now some 20,000 works at the McNay.

3. We really know how to keep it cool.

San Antonians know a thing or two about heat…which prompted us to learn about cold. In 1928, the 21-story Milam Building in downtown San Antonio became the first air-conditioned high-rise in the US. The AC system kept temperatures to 80 degrees, a welcome relief for all those workers doing…whatever people did in offices decades before the first desktop computers. But we didn’t stop with office buildings — San Antonio is home to country’s first air-conditioned bank, hotel, and Catholic Church. And did we mention the creator of Gatorade was from San Antonio?

4. San Antonio holds a world record for tamale making.

If you’ve been to South Texas, you’re probably familiar with our thing for tamales. Yes, they’re a staple Mexican food, and yes, we’re totally obsessed with them. So obsessed, in fact, that a local high school made 17,106 tamales — that’s 2,420 pounds — in 10 hours during a tamalada. This put the Alamo City in the pages of the Guinness World Records,…though the officials did have to create a new category: “Most Tamales Made in a 12-hour Period.”

5. We turned a brewery into an art museum.

The San Antonio Museum of Art, which opened in 1981 in the old Lone Star Brewery complex, may not serve up local brews, but its collection of 30,000+ objects spanning 5,000 years will probably quench a different kind of thirst. Even the building itself is impressive, dating to 1884.

6. You can thank us for Shaq.

Shaquille O’Neal, star of Kazaam (oh right, and also 15-time NBA All-Star), went to Robert G. Cole High School in San Antonio. There, the skinny, nearly 7-foot-tall teenager led his team to a 36-0 state championship record in 1989 (they had a 68-1 record over two years). He also still holds the state record for number of rebounds in a season, with 791. In 2014, Shaq came back to the Texas state basketball tournament for a reunion with his former high school teammates, still towering over them like he did 25 years ago.

Click here to read the rest of this post…

These are cool trivia that helps in getting to know more about San Antonio, Texas. Being the second-largest city in the state of Texas, it means that there are still a lot of things you need to know about San Antonio, apart of course from it being known as the king of tamale making

Amelia Josephson of Smart Asset enumerated some of the most important things to know before moving to San Antonio. It was an awesome list, so check them out below.

13 Things to Know About Moving to San Antonio

Image Source: Smart Asset

With a population of around 1.5 million, San Antonio is a livable city with a small-town feel. Rich in history and boasting a diverse population, the city is attracting new residents all the time. The Texas city has been getting more attention lately and if you’re thinking of moving to San Antonio, here are 13 things you should know before packing up your belongings.

1. The River Walk is worth the hype.

Not many American cities boast a pedestrian-only street along a beautiful river, lined with restaurants, bars and local shops. It’s a year-round attraction, as well as the site of popular annual festivals along – and on – the river.

2. Root for the Spurs.

The performance of the San Antonio Spurs drives a lot of water cooler conversations in San Antonio. Even if you’ve never been a huge basketball fan in the past, it’s worth catching a Spurs game at least once after moving to San Antonio. The NBA team is part of the culture of the city and a major talking point.

3. The population is on the rise.

San Antonio appears on a lot of lists of fast-growing cities with booming economies. There’s an air of optimism in the city. This year, San Antonio made SmartAsset’s list of the best American cities for tech workers, as well as the top 10 best cities for first-time homebuyers. With its affordable homes, San Antonio can be a great place to settle.

4. Taxes are a mixed bag.

If you’re moving to San Antonio from a state with an income tax you’re in for a pleasant surprise. The Lone Star State has no income tax, and cities don’t impose their own income taxes. Sure, the city’s combined state and local sales tax rate of 8.25% is a little high, but the lack of an income tax goes a long way. On the other hand, the average effective property tax rate in Bexar County, where San Antonio is, is over 2%.

5. The food in San Antonio is amazing – and we don’t just mean tacos.

San Antonio has a highly regarded food scene that extends from food trucks to haute cuisine. Many say the taco is the star of the show, and we wouldn’t want to argue otherwise. But it’s by no means the only part of San Antonio’s culinary life that’s thriving. Local coffee roasters, breweries and even Hill Country wineries are attracting loyal customers, too. And of course there’s Texas barbecue. See full post here…

Those are more than enough reasons for you to move into San Antonio. With its population continue to rise, which at some point also translates into a booming economy. In addition, the city also favors first-time homebuyers for it offers much more competitive home prices. These facts would help a lot in your decision to settle into San Antonio.

Mira Milla of Culture Trip gives us unique facts about San Antonio you probably didn’t know, or perhaps this is your first time reading such awesome facts about San Antonio. Check them out below.

10 Unique Facts About San Antonio You Didn’t Know

When you think about Texas, you will most likely think of San Antonio. We all know about the River Walk, the Alamo, and SeaWorld, along with the rich Hispanic culture that San Antonio calls its own. Here are 10 things about San Antonio you probably didn’t know.

San Antonio is the most visited city in Texas

Image Source: Pedro Szekely/Flickr

With attractions like Six Flags Fiesta, The River walk, and the historic Alamo site, it’s no surprise that San Antonio is the most visited city in Texas. It’s actually the 17th most visited city in the nation.

Church’s Chicken first opened in San Antonio

This famous fried chicken fast food place started in 1952 as Church’s Fried Chicken To Go in San Antonio, right across the street from the Alamo. It’s now the fourth largest chicken restaurant in the country behind KFC, Chick-fil-A and Popeyes Chicken.

San Antonio is home to America’s second oldest park

San Pedro Park is the oldest park in Texas and the second-oldest in the nation. It officially became a public park in 1852. The San Pedro Park is home to so much history. During the Civil War, the park was used as a prisoner of war camp. Now, the park has over 60 hiking trails, a swimming pool, a skate plaza, the San Pedro Library, and much more.

The San Antonio Zoo is the third largest in the US

This 35-acre zoo has over 3,500 animals and an aquarium. It’s the 3rd largest zoo in the nation and it breeds a number of endangered species, including leopards, African lions, and Komodo dragons.

The Alamo is the most visited attraction in all of Texas

‘Remember the Alamo!’ Everyone remembers the Alamo in Texas. More than 2.5 million people visit the Alamo a year, making it the most visited attraction in Texas.

Learn more here…

Being the most visited city in Texas, San Antonio is home to thousands of tourists every week exploring not just San Antonio but entire Texas. The foods, the attractions and more importantly the hospital people that welcome the tourists and soon to be residents of the awesome city.

It was mentioned somewhere in the article that home prices in San Antonio are affordable and competitive. This is actually a piece of very good news especially for first-time homebuyers. If you’ve decided to move into San Antonio and looking for someone to help you, Dependable Homebuyers can help you find affordable homes in the San Antonio area. To learn more about us visit at https://www.dependablehomebuyers.com/texas/san-antonio/ and we look forward to hearing from you.

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Housing Market For 55+ Reaches Record High in Builders Confidence

The housing market has rebounded after successive years of being on a downslide. Specifically, the 55+ demographics of the real estate housing market has benefitted a lot from this first quarter boom. In addition, the builder confidence of this older adult sector reaches record high, one of the highest rating recorded since the inception of the index in 2008. This is actually very good news for the whole housing market for the 55+ sector is among the biggest in number in the market today.

Carmel Ford of the National Association of Home Builders explained the recent ranking in his article published at NAHB’s own website. Read the article below to learn more.

55+ Housing Market Opens First Quarter with Record High

The NAHB single-family 55+ Housing Market Index (55+ HMI) rose six points to 72 in the first quarter of 2019, indicating that builder confidence in the 55+ housing market continues to strengthen (Figure 1). The index reading is the highest since the inception of the index in 2008.

Image Source: NAHB

The 55+ HMI measures two segments of the 55+ housing market: single-family homes and multifamily condominiums. Each segment of the 55+ HMI measures builder sentiment based on a survey that asks if current sales, prospective buyer traffic and anticipated six-month sales for that market are good, fair or poor (high, average or low for traffic).

All three components of the single-family 55+ HMI increased in the first quarter: present sales rose four points to 76, expected sales for the next six months climbed seven points to 77, and traffic of prospective buyers surged eight points to 61.

Image Source: NAHB

The 55+ multifamily condo HMI jumped 10 points to 57 in the first quarter of 2019, returning to its level seen in the second quarter of 2018. (Figure 2). Among its components, present sales increased seven points to 58, expected sales for the next six months climbed 13 points to 62 and traffic of prospective buyers jumped 14 points to 52. See full post here…

This high recorded builder confidence index of the 55+ housing market is good news for the entire real estate market. This means that confidence is starting to build strong confidence in the market despite it underperforming over the past years. Another noticeable improvement is the traffic of prospective buyers.

Jessica Guerin of Housing Wire also wrote about this story. For her, data shows that the older population are now looking to invest in a new nest to live out their retirement dreams. More information about this topic below.

The 55+ Housing Market is Booming

Builder confidence in this sector reaches record high

Image Source: Housing Wire

The 55+ housing market is thriving right now as more Baby Boomers look to invest in a new nest to live out their retirement dreams.

With scores of older adults looking at new single- and multifamily builds, homebuilder confidence in this market has soared to a record high.

According to the latest from the National Association of Home Builders, builder confidence in the 55+ market reached 76 in the first quarter of 2019 – up six points from the previous quarter and the highest score since the index started more than a decade ago.

All three components of the index in both the single- and multifamily categories posted gains in Q1, with present sales, expected sales and prospective buyer traffic climbing, the NAHB revealed.

“Favorable demographics and recent declines in mortgage rates have helped support demand for 55+ housing,” said NAHB Chief Economist Robert Dietz. “We expect continued growth in the 55+ housing market, provided builders are able to manage the challenges of regulatory, land acquisition and construction costs.”

Karen Schroeder, chair of NAHB’s 55+ Housing Industry Council, said the market is strong, but not without its challenges.

“Overall, demand for homes in 55+ communities remain strong as more buyers and renters in that market search for simpler living arrangements,” said Schroeder. “However, there are still headwinds that are impacting the market.”

Schroeder pointed to rising construction costs and a lack of skilled labor as problems for builders, factors that could drive up costs for buyers. See full post here…

The recent decline in mortgage rates has the support demand for 55+ housing, which was a key factor in the homebuilder confidence’s soaring to record highs. In addition, the demand for homes in the 55+ communities continues to stay strong due to more home buyers as well as tenants searching for simpler living arrangements. However, the rising construction cost and the shortage of skilled worker in the home building sector proved to be a problem that drives up the cost.

As early as January of this year, there have been signs of home-building confidence as it already rebounded from a 3-year low. Andrea Riquier of Market Watch actually wrote an excellent article about this topic. Read more below.

Home-Builder Confidence Rebounds From 3-Year Low as Housing Market Catches a Break

Image Source: Market Watch

The numbers: The National Association of Home Builders’ monthly confidence index rose 2 points in January to a reading of 58.

What happened: The January increase reversed two months of declines and beat the Econoday forecast of a 1-point increase. The builder lobby group said falling mortgage rates were buoying sentiment among their members, though there have been other signals that housing may enjoy a rebound in 2019.

The index component that tracks current sales conditions rose 2 points to 63 while the tracker of expected conditions over the coming six months was up 3 points to 64. The gauge of buyer traffic ticked up 1 point to 44.

Any reading over 50 signals improvement.

Big picture: The reprieve in mortgage rates is certainly helping the housing market. The Mortgage Bankers Association said Wednesday that mortgage purchase applications were at the highest level since 2010.

Higher borrowing costs aren’t housing’s only headwind, however. Homes — whether newly-constructed or previously-owned — are still too pricey for buyers trying to crack this market. In its release, NAHB acknowledged that. “Builders need to continue to manage rising construction costs to keep home prices affordable, particularly for young buyers at the entry-level of the market,” NAHB Chief Economist Robert Dietz said. Learn more here…

Seeing home-builder confidence booming or reaching record highs is a welcoming sign that the housing market is off to a very good start and is in the right direction at least for the first quarter of 2019. The recent decline in mortgage rates was also a huge factor in homebuilder’s confidence. Favorable demographics and more home buyers are searching for simpler living arrangements also contribute to increasing the confidence of home builders.

With data like this on the record high means that the housing and real estate market is doing good, which is also a good opportunity to start buying a house, especially for first-time home buyers. If you’re looking for some help your first home purchase, Dependable Homebuyers can help you on your journey to a successful real estate purchase. To learn more, visit our website at https://www.dependablehomebuyers.com/texas/san-antonio/ and we look forward to hearing from you.

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Property Rentals As Best Real Estate Business? Here are the Reasons

Property rentals are not just the most popular real estate investment, it is also the easiest to implement and manage. Property rental is very simple and does not require a sophisticated level of degree, knowledge, and skills to become a successful landlord. The risk is also very low as long as landlords did their job screening their tenants.

Despite the fact that rental property is a profitable investment, there are still those that question its profitability. As a matter of fact, SF Gate asked this question for the readers to answer. Is rental property a good investment? Check out the answer below.

Is Rental Property a Good Investment?

Image Source: Big Picture Retirement

Rental property remains one of the best classes of investment available. Good properties offer a unique combination of capital growth, ongoing cash flow and significant tax benefits. However, if you buy rental properties the wrong way, they quickly can become financial albatrosses around your neck. As such, the key to success in rental-property investing is to buy properties the right way.

Appreciation

People often buy rental property for the appreciation. If you buy a $400,000 property and it goes up in value to $500,000, you have made $100,000, or a 25 percent return. Using leverage, which is a fancy way of saying “borrowing money,” makes your returns even better. Imagine if you put $80,000 down and borrowed $320,000 to buy that $400,000 property. Then, if you sold it for $500,000 and used the proceeds to pay off your loan, you would get $180,000 plus whatever you paid down on your loan — at least a 125 percent return.

Cash Flow

While certain investors will buy properties for their appreciation potential alone, other rental properties will provide cash flow. If you have money left over from your rent after paying off your operating expenses, you have a “net operating income (NOI).” If you have money left over from your NOI after paying off your mortgage, you have net cash flow.

Tax Shelter

Real estate also enjoys a number of different tax advantages. While you own your real estate, it builds equity without you having to pay tax on it. At the same time, you can write off a number of expenses, including depreciation, which shield a large portion of your income from taxes. Finally, when you sell appreciated rental real estate, you can structure the transaction as a 1031 Exchange

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Rental property is bound to price appreciation. Property value goes up over time, plus you may also increase the rent of your tenants over time. In addition, a very good rental property also provides a good combination of capital growth, tax benefit and cash flows from rental fees.

Trent Hamm of The Simple Dollar wrote an article about the pros and cons of owning a rental property in order for current and future landlords to fully understand property rentals as a form of real estate investment. Check out his article to learn more.

The Advantages and Disadvantages of Owning a Rental Property

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When I was a little kid, a cousin of mine owned several rental properties in the small town near my home. This was basically his livelihood, as he spent his time taking care of the properties as needed, collecting rent, and so on. He spent about 20 hours a week on his collection of properties that was spread around the town.

I always thought that this guy kind of had things figured out. He only had to work about 20 hours a week, after all. He was constantly receiving income from the properties, plus he owned all of those houses that he could sell if he wanted to.

But the reality was different. When I visited his house, it often seemed like it was held together by duct tape. It was easily in worse shape than some of the houses he rented out. In 1993, a flood wiped out most of the houses and trailers that he rented and it turned out that the insurance money he collected wasn’t enough to rebuild.

Instead, he wound up dying with very little money left and a decided hand-to-mouth existence during the final years of his life. In fact, looking back on it, it was fairly obvious that he never had a whole lot of money, even when his rental “empire” was in great shape.

The Advantages

The advantages to owning a rental property are relatively few, but they’re powerful. To put it simply, if everything lines up well, you can make a lot of money from a rental property.

Income from Renters

The biggest benefit of owning a rental property is that the renters will provide you with a direct income stream. Those monthly rent checks go straight into your business account, ideally more than offsetting any expenses for the month.

For example, if you own a house that you rent out for $1,000 per month, that house when fully occupied will put $12,000 per year back into your accounts.

It’s hard to argue with a direct income stream like that. It is worth nothing, though, that those kinds of figures are optimistic ones and you shouldn’t just dive in expecting those results. Still, even partial results can be very good. If you can keep the property rented for just 75% of the year, that’s still $9,000 a year in income, after all.

The Disadvantages

On the other hand, there are a number of disadvantages to owning a rental property. Individually, these disadvantages are relatively small, but they add up to a significant cost.

Concentration of Assets

One drawback to investing in a rental property is that for most people, owning a rental property is a serious concentration of their assets. It would take a significant portion of the average American’s net worth to fully own a rental property.

The problem with that concentration is that it’s not diversified at all. That investment is in a specific house on a specific block in a specific neighborhood in a specific city. If that neighborhood goes downhill, you lose a lot of money. If that block goes downhill, you lose a lot of money. If something unfortunate happens to that house that insurance can’t handle, you lose a lot of money. Click here to read the rest of this post…

As a landlord, it is important to know the pros and cons of property rentals first before buying a property and start becoming a landlord. If the pros clearly outweigh the cons, then it’s a go signal for you to start rental investment. A direct income stream provided by the rent payment of the tenants. However, one of the major disadvantages of property rental is that most of the time property for rentals are very expensive, and this income concentration is not diversified at all.

Brandon Turner of BiggerPockets enumerated the reasons why rental properties are the best investment. Learn from the expert himself. Check the article below.

12 Reasons Why Rental Properties Are the Best Investment

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Sure, flipping and wholesaling properties might be fun. Notes and tax liens might have fewer tenants. The stock market might be more popular.

But rental properties are my true business love.

1. You can purchase rentals using leverage.

Rental properties are great because you can borrow the bank’s or someone else’s money to increase the potential return.

This is known as leverage.

In other words, you don’t need to have 100 percent of a property’s purchase price on hand to be able to buy it. Rental properties allow me to buy large properties for far less cash than I might need to purchase stocks or other investments.

2. Rentals allow you to hustle for greater returns.

Not only can I leverage my cash, but I can also leverage my time and abilities to make magic happen in this game—something difficult to do with other investments.

In other words, I can hustle.

If I want to do the work needed to rehab a property, I can do that. If I want to leverage my networking skills to raise money, I can do that instead. If I want to leverage my knowledge and time to find better deals that provide an even greater return, I can do that.

Rental property investing gives me the ability to hustle for my future.

3. You can manage the investment directly.

I’ll fully admit I’m a bit of a control freak, and that drives me toward rental properties in a powerful way. With a rental property, I am directly responsible for the outcome of my investment.

It is up to me to analyze a property before I buy it. It’s up to me to ensure the property is in good condition to rent; it’s up to me to ensure the property is running at peak performance.

I don’t have to depend on some board of directors in New York City for my life’s direction. I can manage my investments directly and personally.

4. People always need a place to live.

The real estate market will go up and down, but the beauty of rental properties is that demand will never end. People always need a place to live, so unlike the latest tech trend or in your brother’s start-up, real estate is an investment that will last.

Furthermore, because increasing student loans are making qualifying for a mortgage more difficult and our culture increasingly values mobility, the demand for rental properties will only grow over time. Learn more here…

Among the reasons why property rentals are the best investment is that you as the landlord can manage it directly, making you responsible for the outcome of your investment. Also, people always need a place to live, and a lot of them can’t afford to purchase a new home, hence the demand for your investment will never end. It can also be used as your leverage in case you need bank collateral. These and other significant reasons make property rentals the best investment.

If you’re planning to sell your house and start your property rental business, we at Dependable Homebuyers can help you find buyers for your property, raising the capital you need for your home rental business. To learn more about our services, visit our website at https://www.dependablehomebuyers.com and we look forward to hearing from you.

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Home Buying For The First Time? Take It Easy First And Check Out These Expert Tips

Buying a house (your dream house perhaps) is one of the biggest financial decisions a person makes in his entire life. By the biggest decision alone means that you have to do thorough research, understand the current housing market trends, home prices, home inspection. You need to practice due diligence when buying a house for the first time.

Home Buying For The First Time Take It Easy First And Check Out These Expert Tips

Believe it or not, still, there are a lot of first-time home buyers who actually are clueless as to what they need to do. With that, Carolyn Sun of Entrepreneur gives some tips for first-time home buyers to maximize and to make your home buying experience worth it. Read the article below and learn from the experts themselves.

5 Tips for First-Time Home Buyers

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The average age for first-time home buyers in the U.S. is around 33, a relatively young age for such a big life choice. That said, buying your first home at any age can be a stressful and time-consuming experience.

Luckily, there are a few crucial pointers that will help make the journey to homeownership a less bumpy ride. Here are five tips to get you on your way.

1. Draw up a hard budget and stick to it.

Let’s say you’re interested in a home, but you’re not sure it’s in your price range. That’s a problem. Before you start browsing, it’s crucial that you iron out important questions such as, what is the most you can afford? What is your ideal price range? To help you get started, use an online mortgage calculator to determine the maximum monthly payment you can afford based on the price of the home after you put down a down payment and over a 30-year-mortgage.

“Make sure your monthly budget considers the total mortgage and maintenance costs of a property,” says Maria-Stella Fountoulakis, a realtor at Halstead Property.

If you fall in love with a house but the monthly payment is more than you can afford, when including all your other fixed expenses, it’s time to move on.

2. Make a short list of your non-negotiables.

Before you start seriously shopping, consider your lifestyle and values. What features would enhance your well-being? And what would make you miserable? From there, make a list of non-negotiables, says real estate company Remax — from location, to square footage, to amenities — that you must have in your future home. This will also help guide your realtor.

“There is nothing better than knowing exactly what you want, but it’s hard to find everything in one property,” Fountoulakis says. “The best way to gauge your options is to visit open houses in the area and get acquainted with the local market. Visit apartments that are both above and below your budget to see how values differ with features and location.” See full post here…

First-time home buyers must set or work on a budget and stick to it. Before you even start browsing for for-sale homes, it is crucial that you must already have the ideal price range. If you plan on paying it via mortgage loans, include in your computation the total mortgage as well as the maintenance cost. This will give you an idea of what you can afford to pay for a home.

I’m sure as first-time home buyers still got some important questions in which the answers could help a lot in their decision making. To help newbies further, check out this article written by House Logic. Check out their awesome article below.

Your Questions Answered: Best Home Buying Tips for First-Timers

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Buying your first home is a big freaking deal. How do you know which loan is right for you? How do you swing the down payment? How do you ensure your offer isn’t too low or too high? What don’t you know that you don’t know? Ack!

Breathe, friend. The process doesn’t have to painful.

To prep you for the journey, HouseLogic hosted a Q&A series on Facebook. Here are the top-10 Q&As from the first event, which was hosted by Meg White, the former managing editor of REALTOR® Magazine — and a homeowner, herself.

#1 Getting Started

Q: Where should a prospective home buyer (and their significant other, if applicable) start their buying journey? What do you do first?

A: The first step should be to look inward and have some super-honest conversations. This worksheet is a great way for you and your buying partner to get on the same page.

Talk openly about your priorities: Where do you see yourself in five to 10 years? Create a checklist of must-haves in your new home and neighborhood. Hash out a budget, and talk about the kind of lifestyle changes you might be willing to take on (and the ones you won’t be willing to do).

Finally, check your credit, correct any errors in your report, and start taking steps to build a positive financial profile.

#2 The Down Payment

Q: Is there any wiggle room on the 20% down payment, or should I just plan on making that?

A: It’s actually quite common to put less than 20% down. My family only put down 10%, and many other buyers put down even less. (For example, FHA borrowers might put down as little as 3.5% on the purchase price.)

Keep in mind that when you put down less than 20%, you’ll probably have to pay PMI, or private mortgage insurance; it’s a monthly fee the bank charges to secure their investment in you, since you have less skin in the deal. Click here to read the rest of this post…

Perhaps the most common question asked by these newbies is how to start their very first home buying journey, or what are they going to do first. Having at least this information will definitely help them work their way up until they find the home to buy. Another important question newbies would ask is how much they need for the downpayment.

While there are steps and tips that first-time home buyers should follow, there are also several things and mistakes to avoid to make buying home for the first time very huge success. Elizabeth Weintraub of The Balance listed some of the most common, but costly mistakes to avoid for first-time homebuyers.

Tips for Buying Your First Home—And Mistakes to Avoid

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Buyers need a basic overview. This is especially true for first-time home buyers who aren’t familiar with the process. Bear in mind that the steps in the home buying process can vary from state to state, depending on local custom.

However, when you strip away all of the crap—which may or may not happen to you—there are only five basic steps to buying a home. You can do these five steps in any order you want.

Hire an Agent

You don’t have to hire a buyer’s agent if you prefer to go to open houses and look through a mumbo-jumbo of homes online, but hiring an agent will save you time. Here’s why:

  • An agent can send you listings directly from MLS that fit your parameters, and you won’t waste time looking at active short contingent listings that are under contract.
  • Agents often know of new listings coming up that are not yet on the market.
  • You can waste the agent’s gas and not your own when you tour homes.
  • Some agents will preview homes for you.
  • An agent can generally spot overpriced listings and advise you accordingly

Find a Home to Buy

Buying a home can be an overwhelming process and emotionally draining. Finding the right home is not always an easy task. Schedule a maximum of seven homes at a time because any more than that will make a buyer’s head spin.

Most buyers conduct a lot of research online before ever stepping foot in a home. Buyers spend an average of six to eight weeks, according to the National Association of REALTORS, trying to figure out where they want to live. Once the neighborhood is selected, most buyers end up buying a home after two or three home tours. Learn more about the mistakes here…

Be honest in yourself. If you really are not confident with your own knowledge and understanding of the housing market nor the home buying process, then you can always hire an agent to help you. Majority of these real estate agents know the old and new listings that are not yet available on the market. In addition, they can know if the listings are overpriced. These agents come in handy for things you aren’t sure of in the market.

Purchasing a home for the very first time entails a lot of responsibility on your part. You need to study the housing market trends, real estate news, recent home prices, among others. Also, you need to follow or observe the do’s and don’ts advice from the experts. However, if none of these makes sense to you, or simply you don’t have the time to do these things, better yet hire an agent to get things done for you. Dependable Homebuyers can help you on your journey towards owning your very first home. Visit Dependable Homebuyers at https://www.dependablehomebuyers.com and we look forward to hearing from you.

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Learn The Best And Most Practical Ways To Make More Money Before Selling Your Home

Regardless of the reason for selling a home, we can all agree or have the consensus that the end goal of selling a home is to make money. Whether we need it for emergency expenses, pay off debts, start a business, etc. we badly need the money that we resorted into selling a house fast.

Learn The Best And Most Practical Ways To Make More Money Before Selling Your Home

There are actually lots of ways to make more money in selling your homes, and knowing some (even all of them) helps a lot in increasing your home’s value before finding a buyer. Starting with home improvements and renovations, repair parts of the house that need fixing is crucial and buyers often check these house areas before sealing the deal. Learn from the real estate agents for they have the first-hand experience as to what sells and what’s not. Melina Glusac of Insider published an article about the easy tricks to make more money when selling your home according to some of the real estate agents.

7 Easy Tricks To Make More Money When Selling Your Home According To Real Estate Agents

When it comes time to sell a home, apartment, or property, everyone’s mind is pretty much set on the same goal: making as much money as possible. And there are simple steps that sellers can take to ensure they get the most out of their sale.

INSIDER talked to four different real estate agents based in New York to get their tips and tricks for selling your home, and getting the most bang for your buck while you’re at it. Here’s what they said.

1. Spruce up your home’s interior design. Buyers will be more attracted to the property.

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“When someone is going to put their property on the market, you want to make sure that particular property has the best visuals when someone walks in, because people usually buy with their eyes,” Anderson Toney, a real estate broker at Compass, told INSIDER.

” Staging” is a temporary solution for those who don’t want to completely revamp their home’s interior, yet still make their property look appealing to buyers.

2. You might want to put your home up for sale in the spring or summer, as prices go up due to heightened competition.

If your impending move isn’t pressed for time, it might be worth it to wait until springtime to put your house on the market, so you can price it at peak value.

“In our business, typically there’s a season frenzy for property in the spring and in the summer because that’s when people really want to move,” Toney said.

David Soltero, a realtor with Brick & Mortar LLC, also believes timing is important.

“Timing and location certainly play a role with profit,” Soltero told INSIDER. “Certain factors, like MD and interest rates, impact buyers and sellers alike. Same goes for inventory … the market has just been saturated with new developments which is causing supply to outweigh the demand.” See full post here…

Real estate agents are usually hired by people who don’t have any idea how to sell your home. They’re the ones dealing with home buyers, so they basically know what the buyers look into a house before buying it. Definitely, they knew that doing home repairs, improvement, and renovation increase home value and will help in selling your house fast.

Here’s another unique tip was written by Alcynna Lloyd in her published at Housing Wire. It says that you can actually make more money selling your home by not moving out. Read the article below to know more about these tips.

Want To Make More Money Selling Your Home? Don’t Move Out

Vacant homes sell for $11,306 less than comparable occupied homes

Image Source: Housing Wire

America’s vacant homes are not only selling for less money, but they are also spending more time on the market, according to a recent analysis from Redfin.

The average vacant home sells for $11,306 less and spends six more days on the market than comparable occupied homes, revealed the analysis, which compared the sale prices and time spent on the market of home listings marked as vacant with those marked non-vacant.

According to the report’s findings, less than 3% of homes included in the analysis started out occupied and became vacant while on the market.

“Although vacant homes are easy for buyers to tour at their convenience, the fact that the sellers have already moved on is often a signal to buyers that they can take their time making an offer,” Redfin Chief Economist Daryl Fairweather said. “It’s also likely that sellers who are in a comfortable enough financial situation to own a property that’s sitting empty aren’t as motivated to get the highest possible price for their home as sellers who need the cash from their first home in order to buy the next one.”

Although Redfin determined that vacant homes sell for less money in every housing market included in its analysis, the company revealed the amount varies by location. Learn more here…

This is actually a unique way of making more money in selling your home. The key here is when deciding to sell your house, it’s a good decision not to move out to the home you are selling for vacant homes are priced less than occupied homes. While vacant homes are easy for buyers to inspect the house, to them it could also mean that buyers could take their time making an offer, which put the seller at a disadvantage. So not moving out after putting the house on for sale listings.

The bottom line here is that you need to make money out of home selling, and Joe Gomez wrote an article on how to sell your house for the most money.

How To Sell Your House For The Most Money

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To sell your home for the most money, it’s best to understand local trends in your market, the total cost of selling a home, and the best method of selling to meet your goals. The highest offer won’t always leave you with the most money, and you won’t always recoup the costs of major renovations.

In the past, we’ve covered the factors that influence the value of your home like location, repairs, and the economy. Here are 6 things you should consider to sell your house for the most money:

1. Understand your local market

When there’s more homes for sale than there are buyers, it usually brings prices down as sellers compete for fewer buyers. We often call this a buyers’ market. On the other hand, when there’s more buyers than there are homes for sale, it tends to drive prices up as buyers compete for fewer homes. We call this a sellers’ market.

A good way to gauge whether you’re in a buyers’ or sellers’ market is to look at the average Days on Market for similar homes in your area. DOM is a real estate statistic that shows how long homes are actively listed on the market. If similar homes to yours are selling faster than the average DOM for your area, then it can suggest strong demand.

2. Choose the right time to sell

Home sales ebb and flow with the seasons. Spring typically brings the most buyers because many people want to move during the warmer months when the kids are out of school. While seasonal trends vary by market, they aren’t the only factor to consider when thinking about “the right time to sell”.

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Selling a home also requires timing. There is a right time to sell your house where you can make money without lowering the price too much. In addition, follow the current market trends, the recent home prices, supply, and demand, etc. for these will dictate how the home prices will be. Knowing these things helps a lot in selling your home.

There are basically lots of tips in this article to make money in selling your house. However, if none of them makes you convinced that you can do the selling alone, Dependable Homebuyers can help you sell your house fast, find the right buyer and seal the deal for you. To know more about our services, visit us at https://www.dependablehomebuyers.com and we look forward to working with you.

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