Fort Bend County, TX Real Estate News

By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise.With all of this uncertainty, anyone with a megaphone from the mainstream media to a lone blogger has realized that bad news sells. Unfortunately, well continue to see a rash of troublesome headlines over the next few months. To make sure you aren't paralyzed by a headline, turn to reliable resources for a look at what to expect from the housing market next year.There are already alarmist headlines starting to appear. Here are two recent topics you may have seen in the news.1. Foreclosures Are Spiking TodayThere are a number of headlines circulating that call out the rising foreclosures in todays real estate ma...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022:The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.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. Taking Time Off Can Be CostlyMortgage rates play a significant role in your home search. As rates go up, your monthly mortgage payment increases if you're buying a home, directly affecting how much you can afford. And even the smallest increase can have a large impact on your monthly payment (see chart below):With mortgage...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Getting ready for winter in advance is important to make sure that you don’t run into major problems once cold weather hits. There are a lot of places in the home that will likely need some maintenance or upkeep as part of your winterization process. Of these, your furnace is one of the most important; falling behind on furnace maintenance can result in problems at the worst time, and getting them fixed in the cold of winter can be both difficult and expensive.Fortunately, a lot of furnace maintenance is fairly easy to do even for complete beginners. There are several things that you can do if you want to make sure that your furnace is ready for winter. While the specifics may vary depending on your actual home heating setup and the type of furnace you have, here are some of the basics ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
As a renter, you're constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of benefits to homeownership every renter needs to consider.Here are a few things you should think about before you settle on renting for another year.1. Rents Are Rising QuicklyRent increasing each year isn't new. Looking back at Census data confirms rental prices have gone up consistently for decades (see graph below):If you're a renter, you're faced with payments that continue to climb each year. Realtor.com recently shared the September Rental Report, and it shows price increases accelerating from August to September (see graph below):As the graph shows, rents are still on the rise. Its im...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Are you thinking about selling your house right now, but you're not sure you'll have the time to do so as the holidays draw near? If so, consider this: even as the holiday season approaches, there are plenty of buyers out there, and they really want your house. Here's why selling this winter is a win for you.Todays buyers are still dealing with a limited number of homes for sale. Thanks to continued low inventory, those buyers are competing with one another for their dream home. And when that happens, if your house is one of the few on the market, it will rise to the top of the pool and it will be worth it.According to the latest data from the National Association of Realtors (NAR), the average seller received 3.7 offers on their house in September. For a view into what's happening at t...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
The past year and a half brought about significant life changes for many of us. For some, it meant entering retirement earlier than expected. Recent data shows more people retired this year than anticipated. According to the Schwartz Center for Economic Policy Analysis, 2021 saw a retirement boom:At least 1.7 million more older workers than expected retired due to the pandemic recession.If you've recently retired, your home may not fit your new lifestyle. The good news is, you've likely built-up significant equity that can fuel your next move. According to the latest Homeowner Equity Insights report from CoreLogic, homeowners gained more than 50,000 in equity over the past 12 months alone. That, plus todays sellers market, presents a great opportunity to sell your house and address your...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Like most industries, residential real estate has a seasonality to it. For example, toy stores sell more toys in October, November, and December than they do in any other three-month span throughout the year. More cars are sold in the U.S. during the second quarter (April, May, and June) than in any other quarter of the year.Real estate is very similar. The number of homes sold in the spring is almost always much greater than at any other time of the year. Its even labeled as the spring buying season. Historically, the number of buyers and listings for sale significantly increase in the spring and remains strong throughout the summer. Once fall sets in, the number of buyers and sellers typically drops off.Last year, however, that seasonality didn't happen. The outbreak of the virus and ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Having access to a sink when you need one is a great convenience. Most people are used to having sinks in their kitchen and bathrooms, but there are other locations where a sink can come in handy as well. Installing a utility sink in these areas can make tasks such as laundry and cleaning easier, while also keeping you from having to dump things like cleaning wastewater into your kitchen or bathroom sink.Installing a utility sink in places like your laundry room, basement, or mudroom can be a great idea, especially if there aren’t any other sinks convenient to those locations. Depending on how your home is laid out, though, it might also be a significant undertaking. If you’re thinking about adding a utility sink, here are some things to keep in mind.What Is a Utility Sink? If you aren’...
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By The Legacy Group, The LegacyGroup of CrossCountry Mortgage
(CrossCountry Mortgage)
Veteran’s Home Loans for Guy TexasIf you are reading this, you or a family member have likely served in our military.  First off, we would like to say a sincere “Thank You” for your service!  We recognize that not only do our Veterans sacrifice by serving, but their families do as well-, and we owe you all a debt of gratitude!One of the best benefits Veterans and their families receive due to their service to our great country is the VA home loan benefits.  We are going to outline just a few of these significant benefits in this article for you. Here are some of the major benefits you may receive by using your VA home loan benefits:*100% financing available- one of the very few loans available with no down payment!*Lower rates available than most loan programs- which saves you money eve...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
With the average 30-year fixed mortgage rate from Freddie Mac climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will rise further in the coming months, that conversation isn't going away any time soon.But as a homebuyer, what do rates above 3% really mean?Todays Average Mortgage Rate Still Presents Buyers with a Great OpportunityBuyers don't want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But its important to put todays average mortgage rate into perspective. The graph below shows todays rate in comparison to average rates over the last five years:As the graph shows, even though todays rate is above 3%, its still incredibly competitive. But todays rate ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
In todays housing market, the number of homes for sale is much lower than the strong buyer demand. As a result, homeowners ready to sell have a significant advantage. Here are three ways todays low inventory will set you up for a win when you sell this season.1. Higher PricesWith so many more buyers in the market than homes available for sale, homebuyers are frequently getting into bidding wars for the houses they want to purchase. According to the latest data from the National Association of Realtors (NAR), homes are receiving an average of 3.7 offers in todays market. This buyer competition drives home prices up. As a seller, this certainly works to your advantage, potentially netting you more for your house when you close the deal.2. Greater Return on Your InvestmentRising prices mea...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Maybe you’re adding an expansion onto your home, constructing a standalone storage building in the back yard, or undertaking some other major construction project. Whatever it is that you’re building, you likely already know that big construction jobs can carry big costs. If you haven’t budgeted for the job correctly, though, you might end up surprised at how big some of these costs can be.Sticker shock for construction projects can be a problem, but it doesn’t have to be. With a little bit of thought and planning you can make sure that you’ve got all your expenses covered in your budget before the job begins. While some of the costs involved will be very specific to the details of your construction project and where you live, these budgeting tips will help you to keep an eye out for th...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Many people have questions about home prices right now. How much have prices risen over the past 12 months? What's happening with home values right now? What's projected for next year? Here's a look at the answers to all three of these questions.How much have home values appreciated over the last 12 months?According to the latest Home Price Index from CoreLogic, home values have increased by 18.1% compared to this time last year. Additionally, prices have gone up at an accelerated pace for each of the last eight months (see graph below):The increase in the rate of appreciation that's shown by CoreLogic coincides with data from the other two main home price indices: the FHFA Home Price Index and the S&P Case Shiller Index.The last year has shown tremendous home price appreciation, which ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
When most people think of flooring, they picture things like carpet, wood flooring, tiles, and other common floor coverings. There are other options available to homeowners though, including concrete floors. While concrete was once seen mostly in places like basements and garages, it’s becoming increasingly common in the main floor of homes as well. Concrete flooring with built-in radiant heating systems is becoming a lot more popular, especially in areas that tend to have more severe winters.Some people think that concrete flooring is limited in its decorative options, assuming that the only thing you can do with concrete is apply a sealant or stain. There are other options available, though, including painting the concrete. But be careful before just slapping a coat of paint onto a co...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
The purpose of Veterans Affairs (VA) home loans is to provide a pathway to homeownership for those who have sacrificed so much by serving our nation. As the Veterans Administration says of the program:The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of their service. . . .For over 75 years, VA home loans have provided millions of veterans and their families the opportunity to purchase their own homes.2020 Data on VA Home Loans 1,246,817 home loans are guaranteed by the Veterans Administration The average VA loan amount totals 301,044 178,171 of those using a VA Loan are first-time homebuyers Top Benefits of the VA Home ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic:Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.Looking back, we can see rents rising isn't new. The median rental price has increased consistently over the past 33 years(see graph below):If you're thinking of renting for another year, consider that rents will likely be even higher next year. But that alone doesn't paint the picture of the true cost of renting.The Money Renters Stand To Lose This YearA homeowners monthly ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying:“Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”But the sense of urgency they feel is complicated by the lack of homes for sale in todays market. According to the latest Existing Home Sales Report from NAR:From one year ago, the inventory of unsold homes decreased 13%. . . .What Does This Mean for Sellers Today?With buyers eager to purchase but so few homes available, sellers who list their houses this fall have a tremendous advantage also known as leverage when...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Mortgage rates are one of several factors that impact how much you can afford if you're buying a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit the lowest point ever recorded, and they've hovered in the historic-low territory. But even over the past few weeks, rates have started to rise. This past week, the average 30-year fixed rate was 3.14%.What does this mean if you're thinking about making a move? Waiting until next year will cost you more in the long run. Here's a look at what several experts project for mortgage rates going into 2022. Freddie Mac:The average 30-year fixed-rate mortgage (FRM) is expected to be3.0 percent in2021 and 3.5 percent in 2022.Doug Duncan, Senior VP & Chief Economist, Fannie Mae:Right no...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
With forbearance plans coming to an end, many are concerned the housing market will experience a wave of foreclosures similar to what happened after the housing bubble 15 years ago. Here are a few reasons why that wont happen.There are fewer homeowners in trouble this timeAfter the last housing crash, about 9.3 million households lost their homes to a foreclosure, short sale, or because they simply gave it back to the bank.As stay-at-home orders were issued early last year, the fear was the pandemic would impact the housing industry in a similar way. Many projected up to 30% of all mortgage holders would enter the forbearance program. In reality, only 8.5% actually did, and that number is now down to 2.2%.As of last Friday, the total number of mortgages still in forbearance stood at 1,2...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
There's a lot of talk lately about how challenging it can be to find a home to buy. While housing inventory is still low, there are a few important things to understand about the supply of homes for sale as we move into the end of the year.The Number of Homes for Sale Usually Peaks in the FallIn the residential real estate market, trends generally follow a predictable and seasonal pattern. Typically, the number of homes available for sale (or active monthly listings) peaks in the fall. But in a chapter where so little feels normal, the question becomes: should we expect a fall peak this year?If we look at the active monthly listings for 2021 (shown in the chart below), well see that the number of homes on the market has increased fairly steadily since spring this year. The realtor.com d...
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