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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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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Just 5 miles from Sugarland and 1 mile from Katy, you are guaranteed to fall in love with this one story, open floorplan, three bedroom, two bath home in Grand Mission inside of the Sonoma Ridge Division. An excellent value, it has been well maintained since it was built in 2005. Fully upgraded from the builder’s standards, this home includes granite countertops, premium carpet, crown molding, hardwood & tile floors, and a custom built mahogany front door. The lighting, mirrors, and faucets have also been upgraded. The kitchen includes stainless steel appliances, built in microwave, tiled backsplash, a butler’s pantry, and huge island. The master bathroom has elevated height on the double sinks, a separate shower and garden tub. The home has both a study and a game room. It has been custom painted with warm and pleasing colors. For energy efficiency, it has a tech shield roof. This home is situated on a huge lot with a covered back patio ideal for entertaining. You will never have neighbors behind you. The entire home is surrounded with brick. The Home Owner’s Association dues are $750 annually and that includes alarm monitoring. The water softener is leased for $24.98 per month. The community offers miles of walking & biking trails, pools, water park, a clubhouse, gym, and more.

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Increase your chances of getting your dream house instead of losing it to another buyer, with these easy steps.

1.  Get prequalified for a mortgage.  You’ll be able to make a firm commitment to buy and make your offer more desirable to the seller.

2.  Stay in close touch with your real estate sales associate to find out first about new listings that come on the market.  And be ready to go see a house as soon as it goes on the market.

3.  Scout out new listings yourself.  Look at Internet sites, newspaper ads, and drive by the neighborhood frequently.  Maybe you’ll see a brand-new “for sale” sign before anyone else.

4.  Be ready to make a decision.  Spend lots of time in advance deciding what you must have so you won’t be unsure when you have the chance to make an offer.

5.  Bid competitively.  You may not want to start out offering the absolute highest price you can afford, but don’t try to go too low to get a deal.  In a tight market, you’ll lose out.

6.  Keep contingencies to a minimum.  Restrcitions such as needing to sell your home before you move or wanting to delay the closing until a certain date can make your offer unappealing.  In a tight market, you’ll probably be able to sell your house rapidly.  Or talk to your lender about getting a bridge loan to cover both mortgages for a short period.

7.  Don’t get caught in a buying frenzy.  Just because there’s competition doesn’t mean you should just buy anything.  And even though you want to make your offer attractive, don’t neglect inspections that help ensure that your house is sound.

Reprinted from REALTOR Magazine Online by permission of the National Association of REALTORS.  Copyright 2005.  All rights reserved.  http://www.REALTOR.org/realtormag.

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WASHINGTON (Associated Press) – Home builder confidence in current sales rose two index points in February to 17 after falling two consecutive months, according to the National Association of Home Builders.

 Builders’ outlook for sales over the next six months climbed one point to 27, and traffic by prospective buyers remained at 12 index points. 

The index for the Midwest and South regions increased two points but dropped one point in the Northeast and West.

 The index reflects a survey of 528 residential developers across the nation. Index readings below 50 indicate negative sentiment about the market. The last time the index reading exceeded 50 was April 2006.