Downpayment assistance is available to qualified buyers for homeownership. The minimum requirements for the Harris County Downpayment Assistance Program: DAP: $14,200 for new construction, $9,500 for resale properties built within the current ten (10) years. You must live in the house for five (5) years, which is the affordability period. DAP for disabled borrowers: $14,400 for new construction and $14,400 for resale properties built within the current ten (10) years. You must live in the house for five (5) … [Read more...]
National Flood Insurance Program needs revision
The National Flood Insurance Program is 19 billion dollars in debt today. The program continues to provide insurance for homes which have flooded and been repaired many times over the years. Spencer Gaffney of the Washington Bureau stated “ Between 1977 and 1995 the National Flood Insurance Program paid out $806,591 for repeated storm damage to a suburban Houston home that was value at $144,480. If you think the math doesn’t add up you are not the only one.” The City of Houston advises everyone to buy Flood … [Read more...]
HOYO – Mortgage help for the Disabled
Housing Initiative Homeownership is as desirable for people with disabilities as it is for anyone else in America, yet it is estimated that less than one percent of Americans with disabilities are homeowners versus sixty-six percent of those without disabilities. Currently through the Home of Your Own Program (HOYO), UCP is closing on 10-20 homes per year for individuals with disabilities who are low income and first time homebuyers. Home of Your Own (HOYO) Program Services: Down payment assistance for … [Read more...]
Powerful Foreclosure Secrets and Tips
Today it’s possible to make excellent real estate investments. Potential home buyers can choose from a wealth of low priced foreclosed homes. Those seeking Houston real estate opportunities can uncover superb value when they know which pitfalls to avoid. There are many mistakes of foreclosed home buying that savvy purchasers can avoid. Inner loop Realtor Bill Edge will help you find the gems and avoid the quagmires. Here are Bill’s foreclosure secrets and tips that will protect you and your family from … [Read more...]
Short sale means no sale
Property listings may take nearly a year to close Realtors and property owners alike are finding that it is near impossible to close a short sale. The rules favor the lender. Since they are not technically on the contract. They are immune to any contractual guidelines. The home owner negotiates the contract and hopes the lender will go along with it. Having lender approval means absolutely nothing. The lender may or may not decide to close the property. Following are Bank of America guidelines … [Read more...]
Buying Rental Property
BUYING RENTAL PROPERTY Houston is a very good area to own rental property. Less than half the people in the Harris County own their own home. That gives investors a huge amount of potential tenants. Rental properties are the favorite investment for many of my investors. The average rents collected allow the investors to make a 20% return on their investment. The ability to have a tenant year after year is the key to maintaining a profitable investment. The property will need to be maintained in order to … [Read more...]
Realty Investment Principles
Houston is a great city for Real Estate investment. Bill Edge is an experienced Real Estate Broker who has been working with investors from all over the world, in addition to local investors. Bill Edge has built up his investment services by adhering to the following principles: To make a continual profit for my clients. To never put my personal interest above the clients Keep my clients advised as to changes in the Real Estate market which can affect their investment. To give the investor a … [Read more...]
Home Inspectors
Real Estate Inspections The best way to choose your inspector is to ask friends and family members for their suggestions as to inspectors they have used successfully in the past. Real Estate Agents and Brokers do not recommend inspectors, but may offer a list of inspectors with whom their clients and customers have been satisfied. The following is such a list. A B A Inspection Services Robert Freeze 4903 Timber Lane Rosenberg, Texas 77471 Does Water Well and septic … [Read more...]
Home Warranty
HOME WARRANTY COMPANIES Residential Service Contracts or Home Warranties are becoming a part of Real Estate contracts in Texas. Sellers like the contracts because they believe that they protect them against lawsuits if something breaks during the first year. Buyers like the contract because they have a warranty on the items most likely to break during the first year. A home warranty is a service contract that covers the repair or replacement of the most frequently occurring breakdowns of home system … [Read more...]
Foreclosure Secrets and Tips
Powerful Foreclosure Secrets and Tips That Will Protect You, Your Family For the people out there who don't know much about foreclosures - or, more importantly, who THINK they know a lot about foreclosures but might be hurt by their lack of knowledge – here are some of the problems a person might run into, when buying a foreclosure home, if they don't work with an experienced agent, someone who has a vast wealth of knowledge about foreclosures. First, one of the things that happens frequently with … [Read more...]