Are Home Inspections Stressful for Buyers?

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Once you have signed a contract and agreed to purchase a home, the next step is the home inspection. To find a good inspector, you could ask for a referral from a family member or friend. You could also get the recommendation of a good agent. You want to have an inspector out at your new home within 48 hours of you signing the contract, so you have enough time to get the inspection done and negotiate repairs after the fact.

When choosing a home inspector, it’s not a bad idea to ask them for a referral list or past inspection report, to kind of get an idea about their work. After the inspection is done, the inspector will go over the deficiencies with you. It usually takes a day or two and the report can run anywhere from 10-30 pages.

Usually, we like to go over the report with our clients to discuss the deficiencies in the home and what we should do about them. Then we go back to the listing agent to ask for repairs, or cash in lieu of repairs. I always recommend taking the cash. This way you can do the repairs yourself, hiring your own contractor to get things done the way you want.

Finally, don’t get too alarmed by the report when you see it. It’s the job of the inspector to find any small detail, so there will always be some. However, the only things you really need to look at are the major issues. The minor ones will sort themselves out.

An inspection makes the process so much smoother. If you need any assistance or would like a referral for a great home inspector or engineer, give us a call or send us an email. We can’t wait to hear from you!

How Can You Avoid These Common Mistakes After Getting Approved?

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Today, we discuss mistakes homeowners make after getting their mortgage approved. Here are some things you want to avoid once you've been approved for a loan:

• Opening a new line of credit before closing: Whether it's cosigning for a family member or opening up a new account for yourself, this is not a smart move until the home purchase has been finalized. 
• Making large deposits of cash into account: Whether this comes from your 401(k) or a family member, you cannot drop these deposits into your account without an explanation.
• Showing signs of unsteady employment: Losing or changing your job after getting your mortgage approved could cost you! If the mortgage company can't do a verification of employment before closing, the mortgage isn't going to go through.
• Pulling credit too often: You want to limit how often your credit is pulled. This will lower your credit rating and could negatively affect whether the mortgage goes through. 
• Misrepresenting overtime: Your lender wants an average of your overtime earnings, not the peak amount. This could delay the closing or even bring the proceedings to a screeching halt. 

The number one thing to do is always stay in communication with your Realtor or your lender about changes in credit, income, and employment! If you fail to communicate, there is a good chance you'll lose the house, so there's no reason not to communicate. Be open about your financials and keep them steady while applying for a mortgage and everything will go smoothly. 

If you have any questions about the mortgage process, give us a call or shoot us an email. We would love to give you a hand!

What Type of Home Is Right for You?

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 A question we get asked A LOT by first-time home buyers is, "What type of home should I be buying?" This isn't an easy question to answer, but we're going to give it our best shot today.

The first thing we say is sit down and write out your top priorities. What's important to you? Do you want to live in a stellar school district? Is there a particular type of neighborhood you're interested in? Do you want a ranch or a two-story home? What size do you want it to be? Do you want to be near a park? Is a pool something you would be interested in? These are all questions you need to ask yourself before you start looking for homes! 

Once the top five priorities are discussed, the search can be narrowed significantly. Doing this simple exercise will make the buying process a whole lot easier! 

As always, the Rothchild Team is always here to make deciding what type of home to buy as stress-free and simple as possible. Give us a call or shoot us a quick email with any questions you have. We would love to hear from you!

Should You Sell Your Home Now?

Should You Sell Your Home Now?

People have been asking me lately if they should sell their home now or wait until the end of the holidays. I am seeing an amazing market right now that is so short of supply and pent up with demand. This combination is giving sellers multiple offers, bidding wars and receiving more than their asking price. I have never seen a market like this in my 30+ years in the business. If I was a seller right now, I would list my home immediately. The worst thing that could happen is that we could remove your home from the market at no charge. The best thing that could happen is that you could sell your home for over asking price in days.

Interest rates have been at phenomenally low rates and the market is red hot right. I can’t predict the future and neither can you, but signs are pointing that interest rates will be on the rise. Put your home on the market now and take advantage of low inventory, high demand, and low interest rates. Houston is one of the most affordable metropolitan areas in the country with no state income tax, great economic environment and people relocating from all over the world.

If you are interested in buying or selling, call us because the market is great for both buyers and sellers now. Thanks and have a great day!