If your income and savings are making home buying a challenge, consider these options…

1. Investigate local, state, and national down payment assistance programs. These programs give loans or grants to cover all or part of your required down payment. National programs include the Nehemiah program ( http://www.getdownpayment.com ) and the American Dream Down Payment Fund from the U.S. Dept. of Housing and Urban Development ( http://www.hud.gov ).
2. Get the seller to provide financing. In some cases, sellers may be willing to finance all or part of the purchase price of the home and let you repay them gradually, just as you do a mortgage.
3. Consider a shared-appreciation, or shared equity, arrangement. Under this arrangement, your family, friends, or even a 3rd party may buy a portion of the home and thus share in any appreciation when the home is sold. The owner/occupant usually pays the mortgage, property taxes, and all maintenance costs, but all investors’ names are usually on the mortgage. There are companies that can help you find such an investor if your family can’t participate.
4. Get help from your family. Perhaps a family member will loan you money for the down payments and/or act as a cosigner for the mortgage. Lenders often like to have a cosigner if you have little credit history.
5. See if you can qualify for a short-term 2nd mortgage to give you the money to make a higher down payment. This may be possible if you have a good income and little other debt.

Reprinted from Realtor Magazine Online by permission of the National Association of Realtors, Copyright 2005, All rights reserved.

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This Saturday, March 13th, I will be holding open 20223 Cypresswood Glen in the Cypresswood Lake Subdivision in Spring, TX from 12 – 2pm. The gate code to the subdivision is 1057. You can get directions, see photos of the home, watch a video, and get more information by visiting http://buyandsellwithshannon.com/blog/134900-20223-cypresswood-glen-spring-tx-77373/ . I hope you’ll stop in on Saturday!

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The $8,000.00 First Time Home Buyer Tax Credit is available until April 2010.  The following are ten tips for those First-Time Home buyers:

1.  Be picky, but not unrealistic.  There is no perfect home.

2.  Do your homework before you start looking.  Decide specifically what features you want in a home and which are most important to you.

3.  Get your finances in order.  Review your credit report and be sure you have enough money to vover your downpayment and your closing costs.

4.  Don’t wait to get a loan.  Talk to a lender and get pre qualified for a mortgage before you start looking.

5.  Don’t ask too many people for opinions.  It will drive you crazy.  Select one or two people to turn to if ou feel you need a second opinion.

6.  Decide when you could move.  When is your lease up?  Are you allowed to sublet?  How tight is the renatl market in your area? 

7.  Think long-term.  Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer?  This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that suit you best.

8.  Don’t let yourself be “house poor”.  If you max yourself out ot buy the biggest home you can afford, you’ll have no money left for maintenance or decoration ot to save money for other financial goals.

9.  Don’t be naive.  Insist on a home inspection and, if possible, get a warranty from the seller to cover defects within one year.

10.  Get help.  Consider hiring a REALTOR as a buyer’s representative.  Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you.  And often, buyer’s reps are paid out of the seller’s commission payment. 

Reprinted from REALTOR Magazine Online by permission of the National Association of REALTORS, Copyright 2005, All rights reserved.

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February was a month of changes that were necessary for me to make. Sometimes moving and change is a scary proposition for us all. If there is never any change and risk, there is never any growth.

I made a decision to join RE/MAX Integrity and the Shannon Register Real Estate Team for a number of reasons. RE/MAX Integrity is a real estate leader in the Houston/Metropolitan area and has a lot of great things going on with it’s agents. I love the agents and the energy here! I looked at several different offices before making my decision. There’s a great energy at RE/MAX Integrity!! Once I met with Shannon and her team, I knew I had to make the move for my CLIENTS! There is not an agent in the Houston area that I believe does more to promote their client’s listings to move and sell than Shannon and her team. I was very impressed and amazed at how much advertising is done on behalf of her listings. That was something that I could not pass up for my own listings and clients. I wanted them to have every benefit that Shannon offers in the way of promoting and advertising her listings.

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Are you getting ready to make your next move to the Houston area?  I would like to be the first to welcome you and assist you with all of your real estate needs whether you are moving to Houston, The Woodlands, or Spring, Texas.  As a relocation specialist, I can help you sell your current property and find a new one in this area.  As a RE/MAX agent, I help relocate families all over the globe.  Please call me today and I will be happy to send you a copy of the Houston Newcomer Guide.  It will help you narrow your search area and give you a lot of helpful information about the communities in this area.  I would like to help you with all of your relocation needs.  Please call me today so we can get started.  When you talk to your human resources coordinator, please ask for me by name!  Shannon Register 832.628.SELL

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