Richmond, TX Real Estate News

By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
The purpose of Veterans Affairs (VA) home loans is to provide a pathway to homeownership for those who have sacrificed so much by serving our nation. As the Veterans Administration says of the program:The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of their service. . . .For over 75 years, VA home loans have provided millions of veterans and their families the opportunity to purchase their own homes.2020 Data on VA Home Loans 1,246,817 home loans are guaranteed by the Veterans Administration The average VA loan amount totals 301,044 178,171 of those using a VA Loan are first-time homebuyers Top Benefits of the VA Home ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Housing Challenge or Housing Opportunity? It Depends.The biggest challenge in real estate today is the lack of available homes for sale. The low housing supply has caused homes throughout the country to appreciate at a much faster rate than what we've experienced historically.There are many reasons for the limited number of homes on the market, but as you can see in the graph below, were well below where we've been for most of the past 10 years. Today, across the country, there is only a 2.4-month supply of homes available for sale.The OpportunityThis lack of homes for sale is creating a challenge for many buyers who are growing frustrated in their search. On the other hand, this is a huge opportunity for sellers as low supply is driving up home values. According to CoreLogic, the avera...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
After a long summer, it’s time to clean up around your home and get everything in good shape before the winter comes. Not only does this sort of fall cleaning help your home look nice after the rain and heat of summer, but it can also aid you in finding issues or damage that you might want to take care of as you winterize your home. Some areas that often needs particular attention during these cleanup periods are patios and decks.Part of the reason for this is that many people use their patios and decks more during the summer than any other time of the year. Various spills, dripping grease and oils from grilling, and assorted other messes can end up on the wood, while changes in weather over the course of the summer can encourage the growth of things like algae and mildew. Knowing how t...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Autumn is a good time to do a number of things around the house. You’ve likely already started preparing for winter, trimming back some of your plants, and doing other maintenance tasks that are perfectly suited for brisk fall days. There may be at least one big task that needs to be done that you haven’t even considered, though: cutting down that tree that you’ve been worried about for ages.It may seem strange to think of a project as major as cutting down a tree as especially well-suited for autumn, but there are actually a few reasons why this is the perfect time of year to bring that tree down. If you’re on the fence, here’s some advice on how to tell whether the tree really needs to come down and how to make sure that you bring it down safely.Why Autumn? Though bringing down a tree...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
While todays supply of homes for sale is still low, the number of newly built homes is increasing. If you're ready to sell but have held off because you weren't sure you'd be able to find a home to move into, newly built homes and those under construction can provide the options you've been waiting for.The latest Census data shows the inventory of new homes is increasing this year (see graph below):With more new homes coming to the market, this means you'll have more options to choose from if you're ready to buy. Of course, if you do consider a newly built home, you'll want to keep timing in mind. The supply shown in the graph above includes homes at various stages of the construction process some are near completion while others may be months away.According to Robert Dietz, Chief Econo...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
It’s around this time of year that you usually start hearing a lot about “winterization” and preparing your home for the cold months ahead. You may be wondering whether winterization really helps you get your home ready for the winter months. You might also wonder when the right time to start winterizing actually is. If you find yourself asking these questions, the answers are pretty simple. Not only should you winterize your home, but you should winterize it well before the cold weather starts moving in.Winterizing your home can be a big job, so it’s important to understand how different winterization tasks will benefit you. The more you understand about winterization as a whole, the better you’ll be at figuring out which specific winterization tasks will provide the most benefit for y...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
A recent survey from LendingTree.com found there are multiple reasons why Americans would choose to purchase a home instead of renting. Some of the most popular non-financial reasons given include: The flexibility to make the space your own The pride homeownership offers The sense of stability In the same survey, 41% of respondents say they'd rather own a home than rent because of the unique way homeownership builds wealth over time.And experts agree the home you own is an important tool for building your net worth. Here's what many of those experts have to say about building long-term financial stability through homeownership.According to the National Association of Realtors (NAR):Homeowners who purchased a typical single-family existing-home 30 years ago at the median sales price of 1...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Todays housing market is truly one for the record books. Over the past year, we've seen the lowest mortgage rates in history. And while those rates seemed to bottom out in January of this year, the golden window of opportunity for buyers isn't over just yet. If you're one of the buyers who worry they've missed out, rest assured todays mortgage rates are still worth taking advantage of.Even today, our mortgage rates are below what they've been in recent decades. So, while you may not be able to lock in the rate your friend got recently, you're still in a great position to secure a rate well below what your parents and even grandparents got in years past. The key will be acting sooner rather than later.In late September, mortgage rates ticked above 3% for the first time in months. And acc...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
It goes without saying that your doors are an important part of your home. They provide security, help to control the temperature, and even play a big part in the overall look of your home. Your front door is one of the first things that people notice when coming to your home, and the state that your door is in can have a noticeable impact on the impression that people have of your house and property. Stop and think about it for a moment: What sort of a message is your front door sending?If you don’t like what your door is saying or aren’t really sure how others view it, you might consider getting an upgrade. There are a few different types of updates you can give to your door depending on what you want and the sort of budget you’re dealing with, so you definitely have options. Here are...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Alarms play an important part in keeping your home safe. Smoke alarms and other fire alarms can give you an early warning in case a fire breaks out somewhere in your house, which is why it’s recommended that you keep your alarms in working order. To make this easier, some homeowners opt for hardwired alarms which don’t require periodic battery changes to stay active; these alarms are powered by your home’s electrical wiring, so they’re always functional as long as you have power.Unfortunately, these alarms sometimes go off when there isn’t a fire threat as well. While you don’t want your smoke alarm or other warning system to miss signs of an actual fire, it can be pretty frustrating if your alarm goes off all the time when there’s no actual danger. If you have issues with an alarm that...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
House Hacks to Keep Cold Air at BayAs summer slowly shifts to autumn, cooler days and chilly nights are just around the corner. While this can be a relief after the summer heat, it won’t be as much of a relief when your heating costs start stacking up. Fortunately, it’s possible to prepare in advance to avoid some of the extra costs of winter while still keeping your home comfortable throughout the season. Though there are countless ways to do so and the right options for you will largely depend on your specific home, here are some little things you can do now that will have a big impact on how well your home keeps out the cold air this winter.Prep for the Cold The first thing that you should do when trying to get ready for the coming cold is to make sure you’ve blocked off many of the ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
The financial benefits of buying a home versus renting one are always up for debate. However, one element of the equation is often ignored the ability to build wealth as a homeowner.According to the latest research from the National Association of Realtors (NAR):Homeownership is a key pathway to building wealth and narrowing the racial income and wealth inequality gap. Housing wealth (equity) accumulation takes time and is built up by price appreciation and paying off the mortgage.An increase in equity builds the wealth of the individual that owns it. This wealth can be passed down to future generations. The Federal Reserve in an addendum to their Survey of Consumer Finances explains:There are numerous ways families can transmit wealth and resources across generations. Families can dire...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Affordable Richmond TX 77469 Homes For SalePerhaps you are a first-time home buyer, or working with a limited budget, and have a special interest in finding an affordable home. Or possibly you are a renter fed up with rising rents who wants to investigate the many benefits of owning your own home. You may even be an investor looking for a property that offers good financial returns. All of those in the above categories will find much to consider by browsing the affordable Richmond TX 77469 homes for sale listed below.However, you should be aware that this is very active portion of the Richmond TX 77469 real estate market. There is a lot of competition from other buyers and inventory is limited. Consequently, prices have been rising in response to high demand.If you are interested how th...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
In todays real estate market, buyers shouldn't shop for a home with the expectation they'll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle.Things Are Different TodayTodays housing market is anything but normal. According to the National Association of Realtors (NAR), homes today are: Receiving an average of 3.8 offers Selling in just 17 days Homes selling quickly and receiving multiple offers highlights how competitive the housing market is right now. This is due, in large part, to the low supply of homes for sale. Low supply and high demand mean homes often sel...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Keeping the climate in your home under control is important throughout the year. Not only do you need to have a reliable way to keep the heat of the summer sun at bay, but you’ll also want some method of keeping toasty and warm on cool autumn evenings and throughout the frigid winter. For many homeowners, this means a forced-air heat pump, usually as part of a combined central heating and cooling system. This isn’t the only option that’s available, however.Though you might think radiator heating is a product of a bygone era, radiator heating systems are actually the second most popular home heating option out there. Depending on where you live and the type of system you use, they can actually be more comfortable than forced-air heating and may even use less electricity to keep running. ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
There's a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle.That may be because those individuals assume a 20% down payment is necessary. While putting more money down if you're able can benefit buyers, putting 20% down is not mandatory. As Freddie Mac puts it:The most damaging down payment myth since it stops the homebuying process before it can start is the belief that 20% is necessary.If saving that much money sounds overwhelming, you might be ready to give up on the dream of homeownership before you even begin but you don't have t...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
An important metric in todays residential real estate market is the number of homes available for sale. The shortage of available housing inventory is the major reason for the double-digit price appreciation we've seen in each of the last two years. Its the reason many would-be purchasers are frustrated with the bidding wars over the homes that are available. However, signs of relief are finally appearing.According to data from realtor.com, active listings have increased over the last four months. They define active listings as:The active listing count tracks the number of for sale properties on the market, excluding pending listings where a pending status is available. This is a snapshot measure of how many active listings can be expected on any given day of the specified month.What no...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Some Highlights When it comes to the current housing market, there are multiple misconceptions from what the current supply of available homes looks like to how much houses are selling for. It takes professionals who study expert opinions and data to truly understand the real estate market and separate fact from fiction. Trust the pros. If you want to understand why its still a good time to buy, lets connect today.  
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Its economy 101 when supply is low and demand is high, prices naturally rise. That's what's happening in todays housing market. Home prices are appreciating at near-historic rates, and that's creating some challenges when it comes to home appraisals.In recent months, its become increasingly common for an appraisal to come in below the contract price on the house. Shawn Telford, Chief Appraiser for CoreLogic, explains it like this:Recently, we observed buyers paying prices above listing price and higher than the market data available to appraisers can support. This difference is known as the appraisal gap . . . .Why does an appraisal gap happen?Basically, with the heightened buyer demand, purchasers are often willing to pay over asking to secure the home of their dreams. If you've ever t...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Some Highlights Pricing your house right takes market experience and expertise. To find the best list price, your agent balances current market demand, values of homes in your neighborhood, where prices are headed, and your homes condition. If you're ready to sell, don't guess on the price. Lets connect today so we price your house to attract multiple offers and maximize your return on investment.   
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