Often times, buyers think "pre-approval" and "pre-qualification" are the same thing. I've seen this term being tossed around interchangeably. But the truth is, these terms are very different.Pre-qualification is based only on the information a borrower provides to the lender. The lender does not verify information about the borrower's assets, income and debts. The lender assumes that what he or she is being told is true. The pre-qualified loan amount is what you'd likely get approved for based only on the information you provide to the lender. An offer with a pre-qualification letter will not sit well with a seller because there’s no guarantee that the borrower will be able to obtain financing to purchase a home.Pre-approval is a much more involved process. The borrower completes a mort... 07/13/2023

Now that you've executed a sales contract with the sellers, it's time to get approved for a mortgage loan.This is the most time-consuming part of the transaction process. But, if you have all the paperwork together, the process should go smoothly. As a rule of thumb, it usually takes an average of 30 to 45 days to close a real estate sales transaction when financing is involved. There's a lot of back-and-forth communication between the underwriter and borrower during this entire process.Three Players in the Loan Approval Process Loan originator (or representative): This person collects the borrower’s loan application and other supporting documents to send to the loan processor.  The loan originator is your “go to” person during the mortgage approval process. The loan originator needs to... 07/13/2023

Established in 2007 by Johnson Development Corporation, Riverstone is a beautiful 3,860-acre master-planned community located off of Highway 6, three miles south of U.S. 59. The neighborhood is shared between the cities of Sugar Land and Missouri City.If you live in Riverstone, you have convenient access to Sugar Land Town Square, which is a fantastic shopping and entertainment hub. There, you'll find a wide range of boutiques, restaurants and cultural events to explore and enjoy.  Additionally, nearby Missouri City offers its own charming attractions. You can visit its historic district and take in the beauty of the scenic parks. With shopping centers, recreational facilities, and entertainment options just a short drive away, there are plenty of things to do.Additionally, Riverstone o... 07/10/2023

Welcome to the New Territory Market Report for May 2023. I’m excited to share the latest data with you. It's a hot seller's market in New Territory, and that's great news for sellers out there because the market is firmly in their favor. *Source: TAR Market Viewer and HAR MLS data.In May, the number of active listings stood at 14. With a limited inventory available, buyers are eagerly competing with other buyers for the chance to secure their dream home in this sought-after community.The number of homes sold in May were 13, reflecting the robust demand and the swift pace at which properties are changing hands. This high level of sales activity signifies a market that is extremely HOT!One of the most compelling indicators of New Territory’s seller’s market is the low months of inventory,... 07/03/2023

New Territory is a beautiful 3,200-acre master-planned community in the heart of Sugar Land. It offers many benefits that make it an exceptional place to live. One of its most notable features is the abundant amenities available to residents. Located in West Sugar Land, New Territory has 42 subdivisions and comprises 450 acres of parks, recreation centers, lakes and greenbelts. With more than 4,600 homes surrounded by picturesque lakes, New Territory is home to excellent Fort Bend ISD schools, churches, restaurants and retail stores. The neighborhood is also close to major highways like U.S. 59, Highway 6, Highway 90A, and Grand Parkway, all providing easy access to Houston.How would you describe the homes and price ranges in New Territory?New Territory offers diverse housing options, i... 07/03/2023

I am thrilled to share some sweet and amazing news! Sugar Land, TX was recently named 5th in Top 100 best places to live in America by Livability.com! As a REALTOR® and resident of this beautiful city, I can't express how happy I am about this well-deserved recognition. Sugar Land, TX Top 100 Best Place to Live in the US in 2023 - LivabilityFrom its beautiful neighborhoods to its thriving economy, Sugar Land truly has it all. The community's commitment to education is evident in its top-rated Fort Bend ISD schools, providing a nurturing environment for families. The city's impressive array of parks, trails and recreational facilities make it an outdoor enthusiast's paradise.  Whether strolling through Sugar Land Town Square or enjoying the numerous shopping and dining options, there is ... 07/03/2023

What Does an Economic Slowdown Mean for the Housing Market?According to a recent survey, more and more Americans are concerned about a possible recession. Those concerns were validated when the Federal Reserve met and confirmed they were strongly committed to bringing down inflation. And, in order to do so, they'd use their tools and influence to slow down the economy.All of this brings up many fears and questions around how it might affect our lives, our jobs, and business overall. And one concern many Americans have is: how will this affect the housing market? We know how economic slowdowns have impacted home prices in the past, but how could this next slowdown affect real estate and the cost of financing a home?According to Mortgage Specialists:Throughout history, during a recessiona... 07/12/2022

Unexpected Tips for Better Home StagingPutting a home on the market can be a stressful experience. Sometimes it seems like homes sell almost before you can get them listed, while others appear to languish due to shifts in the economy and buyer enthusiasm. Fortunately, there are ways that you can increase the likelihood of your home selling even if the market isn’t at its best. One of these options is to improve your home staging so that potential buyers will be wowed by the property and want to make it their own.Some people view home staging as simply making sure that everything is neat and orderly so that buyers can see the home at its best. While this is important, it’s not the only thing that you can do to improve the appeal of your home. Here are a few unexpected ways that you can m... 07/03/2022

The Average Homeowner Gained 64K in Equity over the Past Year If you own a home, your net worth likely just got a big boost thanks to rising home equity. Equity is the current value of your home minus what you owe on the loan. And today, based on recent home price appreciation, you're building that equity far faster than you may expect here's how it works.Because there's an ongoing imbalance between the number of homes available for sale and the number of buyers looking to make a purchase, home prices are on the rise. That means your home is worth more in todays market because its in high demand. As Patrick Dodd, President and CEO of CoreLogic, explains:Price growth is the key ingredient for the creation of home equity wealth. . . . This has led to the largest one-year gain in average h... 07/01/2022

Reducing DIY Project WasteThere are a number of reasons why you might choose to take on a DIY project. You may decide to do something yourself because you think it will be an easy project, or because you enjoy working with your hands. You might even consider doing a DIY project because you think it would save you a lot of money over hiring a professional to do the same thing. Regardless of your reasoning, there’s one thing about DIY that a lot of project guides and instruction sets leave out: what to do with everything that’s left over once you’re done with the project.DIY waste can be a real concern, since depending on the project there might be a lot of waste produced. Given the nature of the materials involved with most DIY projects, you shouldn’t just throw away everything that you ... 06/19/2022

The One Thing Every Homeowner Needs To Know About a RecessionA recession does not equal a housing crisis. Thats the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession, and if true, an economic slowdown doesn't mean homes will lose value.The National Bureau of Economic Research(NBER) defines a recession this way:A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Between trough and peak, the economy is in an expansion. To help show that home prices don't fall every time there's a recession, take... 05/26/2022

How Todays Mortgage Rates Impact Your Home PurchaseIf you're planning to buy a home, its critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that's within your financial reach. Mortgage rates directly impact the monthly payment you'll have on the home you purchase. So, when rates rise, so does the monthly payment you're able to lock in on your home loan. In a rising-rate environment like were in today, that could limit your future purchasing power.Today, the average 30-year fixed mortgage rate is above 5%, and in the near term, experts say that'll likely go up in the months ahead. You have the opportunity to get ahead of that increase if you buy now before that impacts your purchasing powe... 05/23/2022

Are There More Homes Coming to the Market?According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in todays housing market is finding a home that meets their needs. Thats largely because the inventory of homes for sale is so low today.If you're looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search.Early Signs Inventory May Be GrowingThe latest data from realtor.com shows the number of listings coming onto the market, known in the industry as new listings, has increased since the start of the year (see graph below):This indicates more sellers are listing their homes for sale each ... 05/19/2022

Choosing a Loan That’s Right for YouFinding the right loan to meet your needs can be one of the hardest parts of buying a new home. There are a number of mortgage options out there, and if you choose one that isn’t really ideal for your situation, then you might end up paying a lot more for it in the long run. With so many options, though, how do you know that you’re getting the best loan to match your situation?It might take a little bit of homework, but there are actually a few different ways to sort through potential loans to find the best one for you. A lot of things can affect the loans that are available to you, including where you live, what your credit history looks like, and even the state of the economy. With that said, here are a few things that you should keep in mind when s... 05/15/2022

Three Tips for First-Time HomebuyersBuying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life for the better. If you’re looking to purchase your first home, you may be wondering what’s happening in the housing market today, how much you need to save, and where to start.Here are three things that can help give you the information you need to confidently pursue your dream of homeownership.1. Consider All Options When the Number of Homes for Sale Is LowToday, there are far more buyers in the market than there are homes available for sale. When that happens, its a good idea to do what you can to increase your pool of options. That could mean expanding your search to include additional housing types. ... 05/10/2022

How To Approach Rising Mortgage Rates as a BuyerIn the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will fall, waiting will only cost you more. Mortgage rates are forecast to continue rising in the year ahead.If you're thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. How Rising Mortgage Rates Impact YouMortgage rates play a significant role in your home search. As rates go up, they impact how much you'll pay in your monthly mortgage payment, which directly affects how much you can ... 04/26/2022

What to Consider When Adding OnAdditions can be a good way to get more functionality out of your home. Your addition might be an extra bedroom for your expanding family, a home office to provide you with a space to work from home, or even a sunroom or hobby area. Your add-on might even be a way to add more space to existing rooms, removing or extending walls to let your current kitchen, bedroom, or other area flow seamlessly into your new addition. There are just so many possibilities.Regardless of what you plan to use the room for, though, adding on to your house is a big undertaking and may be kind of a big investment as well. Even relatively small additions can be a big project, so it’s important that you know exactly what your plans will entail before you start work on expanding you... 04/24/2022

There Are Several Great Reasons To Consider Buying a Condo TodayIf you're a first-time buyer looking to break into the housing market but struggling to find a home to buy, condominiums (or condos) could be a great alternative for you.Here are a few reasons condos may be something you'll want to consider.Exploring Condos Could Add Options That Fit Your Budget Supply challenges are a reality across the board in todays housing market. Broadening your home search to include condos could increase your overall pool of options. Just keep in mind, condos generally differ from single-family homes in average space and floorplans.In a recent article, Bankrate covers some of these differences:Condos are generally more affordable because they come with less space you likely wont have your own backya... 04/05/2022

Why Choose an All-Electric Home?There are a number of choices available to you when it comes to how you heat and cool your home. While many people choose electric means of cooling, heating is often a different story. The heating options for your home include things like gas heat, wood-burning heating, and even ambient heating solutions that use steam or hot water to pump heat through pipes in concrete flooring. Some homes even use a combination of these methods to heat different rooms in the house.If you’re considering how you want to heat and cool your own home, however, there is something to be said for using an all-electric solution. While electric heat and air might not be right for every home or every homeowner, it’s at least worth considering if you’re in the market for a new home... 03/20/2022

Improve Your Home’s Efficiency With a Garage DoorWhen it comes to improving the energy efficiency of your home, your garage might not be the first place that you think of. If you have an attached garage, though, you may be leaking warm (or cool) air from your home without even realizing it. While there are a few different ways that you can combat this, one of the most effective is by installing new garage doors.Of course, not all garage doors are created equal when it comes to improving the energy efficiency of your home. To help ensure that you get the most for your garage door dollars, let’s take a look at exactly how new garage doors will help you save money on your heating and cooling costs.Energy Efficiency and Your Garage A lot of emphasis is usually put on the windows and doors f... 03/13/2022