Big Price Reduction on this Houston Texas Home! Gorgeous Gated Community So Convenient To Hwy 290. Oh! What A Lovely Home On This Fabulous Golf Course Lot, And A Quiet Cul-de-sac Street. Look Out The Back At This Stunning View Of Green Space, The Golf Course And Rolling Terrain. Its Quite The Sight. Master Down. Spacious Island Kitchen. Gameroom Up. Shows Great. Vacant.
The Realtor finds the perfect house at the right price in the perfect area for someone and yet they procrastinate on writing an offer. As a Realtor in Houston, Texas, I learned a long time ago you never quite know what stops a buyer from writing an offer after you have found the perfect home. Is it a money problem, or even a loan qualifying issue and they are too embarrassed to say? Sometimes it’s relationship problems between couples, a baby on the way or just shattered nerves about buying a home. Many times, the Realtor never knows what stops people from buying that perfect home you found them. You know the saying, “Be careful what you are looking for because your Re/Max Houston professional might find what you’re looking for.”So it went recently on that perfect home in Katy, Texas I located for a middle-aged unmarried couple. It was “exactly”, I mean “exactly” what they were hoping to find. Oops, and there it was, months before they were anticipating purchasing a home, staring them right in the face, “their dream home.” Just on the market, the only one of its kind available and the likelihood of another perfect home appearing on the market would be slim to none. And, they wanted to think about it for a while. Huh? As a professional Houston Realtor, I displayed the appropriate response. I dropped to my knees in tears knowing lighting would not strike again soon finding the perfect home for them. To my surprise, they called me a few days later wanting to meet and write an offer on this miracle discovery. To an even greater surprise, the home was still available, but another offer was already submitted. We had to hurry to get our offer in to have a chance to snag the prize catch. The buyers were in their 50’s. Her husband passed away many years ago. He was divorced many years ago. They were not married, yet. There was an obvious strain in their collective voices. My keen sense of human nature was not needed to detect their uneasiness. It was quite obvious. Actually, they had every reason to be concerned.Here’s the deal. They were buying a quarter of a million dollar property in Texas together, not married, with each having surviving relatives and about two million dollars in cash combined in local banks. Yes, they had a lot to think about before buying property here. She stretched her arms across the table reaching for his hand, as women will do and asked, “We do love each other, don’t we?” It was her way of asking, “my investment is safe if we buy together?”Is her investment safe? What happens if one of them stops making payments leaving the other responsible for payments, taxes, insurance—everything? How is ownership protected if one of the owners unexpectedly dies leaving surviving heirs claiming rights of inheritance? The buyers do have a lot to think about. Where do they go from here?Straight to the attorney’s office is the first course of action. According to John Trueheart, an experienced real estate attorney, the first step for the buyers is to create a partnership agreement. In this agreement “The buyers are creating a partnership with both having a 50% ownership in the property,” Trueheart explains. “The partnership agreement addresses how situations are handled if the co-owners are in each others good graces, or if they have a falling out.”For example, Trueheart explains, the co-owners can address in this agreement maintaining a working business account where all the bills and mortgage payments and repairs to the property are made from one account.If the relationship goes bad, there can be a buy-sale agreement. One party can buy the other one out based on the current market value of the property. According to Mr. Trueheart, since each party has a 50% of undivided interest in the property, nothing is stopping one from allowing other people to stay at the property or have un-welcomed parties against the wishes of the other partner. A co-ownership agreement could address these issues too. Also, in the event of an untimely death of one of the co-owners, the 50% interest in the property would go to the family of the deceased, rather than the other co-owner unless it was specified otherwise. So, what happened with the dream home? The offer was made and accepted. And, as it turned out, no partnership agreement has been created. Love and trust trumped an agreement. At least the Houston real estate professional explained the options to the buyers who said, “Owning a home in Houston, Texas can be complicated.”
What An Incredible Houston Texas Home! What A Great Backyard! All This At An Incredible Price! Fantastic Pool/spa/decking/gazebo In This Spacious And Well Maintained Backyard. The Perfect Entertainment Environment. Raised Wood Sundeck. Large Gazebo Area For Parties. Oh! How About The 1st Class Workshop Complete With Electricity And A/c. Gorgeous Interior. Italian Tile Throughout. Updated Kitchen Now With Custom Cabinets; Solid Surface Counters-more. Popular Pioneer Home On Corner Cul-de-sac Lot.
Estate Sale. Great Opportunity To Buy In This High Demand Houston Texas Home Inside The Beltway Community. It's A Wonderful Home Located On A Spacious Corner Lot. Both Formals. Beautiful Exterior Design. An Incredible Tile Roof That Most Homeowners Could Never Afford. Producing Fruit Trees. Roomy Indoor Utility Room. Hvac System Just Checked & Serviced. Ductwork Cleaned. Plenumn Replaced. New Lenox A/c Unit Installed 5/09. Appliances Serviced. Washer, Dryer, Refrigerator Stay.
First-time home buyers who purchase any kind of home (new or resale) between the start of the this year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. For the purpose of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the homeowner. The law defines “first-time home buyers” as a buyer who has not owned a principal residence during the three-year period prior to purchase. For couples this includes home ownership for both of the home buyers. Any home that will be used as a principal residence will qualify. Single-family detached homes, attached town homes and condominiums, manufactured homes/mobile homes and houseboats meet this requirement. Still better news, if you are buying a home in Houston, Texas you can use the $8,000 as down payment money. Not all states will allow stimulus money to be used directly for down payment. Call your Houston real estate specialist, and find out how this works in Texas. Remember a tax credit is different than a tax deduction. A credit is equivalent to money in your hand. A deduction only reduces your taxable income.The tax credit starts phasing out once a buyer reaches a certain income. For couples the income level is above $150,000 and single buyers the income level is above $75,000. Buyers will have to repay the credit if they sell their homes within three years. Of course, homes in Houston qualify for this program.While most home buyers looking for homes in Houston are aware of the $8,000 tax credit for first-time buyers, many may not be aware of other government programs available. For example, there is a tax incentive for “going green.” To promote energy savings for Houston homes, these programs are designed to encourage energy-efficient improvements for modest income homes. Tax credits are offered to purchase new furnaces, energy efficient windows and doors, insulation and more. According to some estimates Houston homeowners could save an average of $350 a year on heating and air conditioning bills. Oh! Get a tax credit too.Other programs to promote Houston real estate are provisions to increase support for neighborhood stabilization. A projected $2 billion will be spent to help communities purchase and rehabilitate foreclosed and vacant properties. Another thing to keep an eye on is plans being discussed by President Obama to help struggling homeowners before they have to default on their mortgage. Many owners of Houston real estate will appreciate this program.This plan is to help borrowers that have not yet fallen behind on their payments and struggling to stay afloat. Details are still scarce at this point, however, reports indicate that approximately $50 billion may be spent to help homeowners prevent foreclosure. While this is good news for individual homeowners, it will likely be good for Houston real estate as a whole. Assisting struggling borrowers should help stop the current wave of foreclosures. Estimates project them to reach over 2 million this year. This plan will help stabilize home prices.
Walk To Elementary & Middle Schoool. So Close! Unique Custom Contemporary Houston Texas Home On This Spacious Corner Lot. Easy Access in/out of The Community From This Home. And You Must See This Huge Covered Patio Nestled In A Private Backyard. Adorable and Well Done Storage Building Too. Large Island Kitchen. Walk-in Wet Bar. Updated Master Bath Is A Must See. Upgraded With Granite And Tile. Dual Shower Heads And Block Glass Windows. Gorgeous. Updated Hardi-plank Vinyl Siding, Storm Doors, Wood Blinds & More.
