Good Contents Are Everywhere, But Here, We Deliver The Best of The Best.Please Hold on!
Data is Loading...
5662 N. Mesa, El Paso, Texas 79912, USA (915) 630-3166
Claudia Hargrove Thoughts

 

First, it is necessary to start by defining what is an asset and liability. An asset is anything that generates money flow into our pockets On the other hand, a liability is the opposite. True goods or services require money, maintenance, payments, etc. That is, he takes silver from his own pocket.

Do we get cash when we buy a house?

No, on the contrary, money comes out of our pockets.

When we are 100% real estate owners, do we earn money?

No, it does not matter if you do not have mortgages, debts or credits. All property requires maintenance expenses, payment of taxes and payment of services like electricity, water, among others.

An owned property would be considered an asset as long as it generates revenue after all debts have been paid. If all of the expenses are paid and there is money left in your pocket, there if a house is considered an asset.

For more information read this article

Is My Home an Asset or a Liability?

 

 

 

 

0

Claudia Hargrove Thoughts

A higher salary and the ability to save are the two most important characteristics missing for young people who want to buy a home.

The millennials have no savings, but are interested in purchasing a home in the next 5 years, so they are willing to make sacrifices for the down payment and buy their first home.

80% of millennials say they want to buy a home—but most have less than $1,000 saved.

New data from Apartment List shows that, although 80 percent of millennials would like to purchase real estate, very few are in a good position to buy, largely because they have nothing saved. According to the report, “68 percent of millennials said they have saved less than $1,000 for a down payment. Almost half, or 44 percent, of millennials said they have not saved anything for a down payment.”

Depending on where they are looking to buy, given their current savings rate, millennials are 10 years or more away from home ownership. Young residents will have to be exceptionally patient: Odds are they won’t be in a good position to buy an apartment for “almost 24 years,” or “until the year 2041.

In order to make buying a realistic part of a five-year plan, most millennials will have to start saving more. Luckily, research has shown that millennials are actually good savers, though their priorities are different and distinct from those of other generations: They’re generally eyeing short-term goals rather than long-term ones. But, if becoming property owner’s matters enough to them, they may well be able to make their home-buying dreams come true.

The full report can be retrieved from here:

 https://www.cnbc.com/2017/05/26/most-millennials-want-to-buy-a-home-but-about-half-have-nothing-saved.html

 

 

 

 

0

Claudia Hargrove Thoughts
Here are the latest statistics for El Paso, Texas (courtesy of point2homes):

Population Demographics
-Total population: 832,283
-Male population: 404,085
-Female population: 428,201
-Median age: 30.7 years

Household
-Total households: 271,728
-Family households: 207,647
-Non-family households: 64,079
-Households with children: 126,792
-Households without children: 144,932
-Average People Per Household: 3.09

Education
-No High School: 89,448
-Some High School: 54,299
-Some College: 105,389
-Associate Degree: 30,599
-Bachelors Degree: 62,889
-Graduate Degree: 31,054

Marital Status
-Never Married: 180,220
-Married: 239,402
-Separated: 30,954
-Widowed: 11,383
-Divorced: 41,933

Average Income
-Median Income Under 25: $25,484
-Median Income 25-44: $35,488
-Median Income 45-64: $46,571
-Media Income Over 65: $39,362
-Average Household Income: $49,593
-Median Household Income: $38,358
-Average Household Net Worth: $300,648
-Median Home Sale Price: $101,936
0

Claudia Hargrove Thoughts

Whether you’re looking to move to a new neighborhood, or you want to know if your current neighborhood is a good fit for you, these questions can help you gauge for quality. These are the questions that the American Planning Association (APA) use to determine a neighborhood’s eligibility for “great neighborhood”.

Neighborhood Form and Composition

How does the neighborhood …

  1. Capitalize on building design, scale, architecture, and proportionality to create interesting visual experiences, vistas, or other qualities? Accommodate multiple users and provide access (via walking, bicycling, or public transit) to multiple destinations that serve its residents? Foster social interaction and create a sense of community and neighborliness?

  2. Promote security from crime is made safe for children and other users (i.e. traffic calming, other measures)?

  3. Use, protect, and enhance the environment and natural features?

Neighborhood Character and Personality

How does the neighborhood …

  1. Reflect the community’s local character and set itself apart from other neighborhoods?

  2. Retain, interpret, and use local history to help create a sense of place?

Neighborhood Environment and Sustainable Practices

How does the neighborhood …

  1. Promote or protect air and water quality, protect groundwater resources, and respond to the growing threat of climate change? What forms of “green infrastructure” are used (e.g., local tree cover mitigating heat gain)?

  2. Utilize measures or practices to protect or enhance local biodiversity or the local environment?


For a full list of guidelines, or to view the original article, click here.
0

Claudia Hargrove Thoughts
With Summer on vacation, its time to focus on getting ourselves prepared for the half of the four seasons. Here are some tips to make sure your home is ready for Fall and Winter (courtesy of bobvila.com ):

1. Clear out the gutters.

Remove leaves and other debris from your drainpipe and gutters to prevent clogging. In areas with cold winters, outdoor faucets should be drained in the fall.

2. Clean the fireplace and chimney.

You can clear out ash and charred wood from the fireplace yourself, but leave the chimney cleaning to a professional. Have the chimney cleaner check the damper to ensure it can be tightly closed to prevent drafts.

3. Check the heating system.

Do a survey of your home’s heating vents to make sure they’re not blocked or covered by furniture, carpeting, or curtains. Dust vents and clean all filters. Make an appointment for an annual heating system check-up.

4. Store air conditioners.

If you have removable window air conditioners, be sure to unplug them before taking them down. Dust and clean before covering or storing.

5. Check for drafts.

Stay warm, save energy, and reduce your heating bills this fall by examining windows and doors for cracks and sealing them to prevent drafts.

6. Put up storm windows.
If you have removable screens, now’s the time to clean, store, and replace them with storm windows.

7. Ready the water heater.
Prepare for cooler weather by draining the water heater and clearing out any debris that has settled in the tank.

0

Claudia Hargrove Thoughts
We, as a global community, have been affected with a large amount of natural disasters in a relatively short time-span. It is important to know what to do when one is unfortunate enough to be caught in such a situation. Here is some information on flooding (courtesy of Ready.gov): 


What

Flooding is a temporary overflowing of water onto land that is normally dry. Flooding may happen with only a few inches of water, or it may cover a house to the rooftop. There are many possible causes of floods including heavy rain or snowmelt, coastal storms and storm surge, waterway overflow from being blocked with debris or ice, or overflow of levees, dams, or waste water systems, Flooding can occur slowly over many days or happen very quickly with little or no warning, called flash floods.

Where

Flooding can happen in any U.S. state or territory. It is particularly important to be prepared for flooding if you live in a low-lying area near a body of water, such as near a river, stream, or culvert; along a coast; or downstream from a dam or levee.

When

Flooding can occur during every season, but some areas of the country are at greater risk at certain times of the year. Coastal areas are at greater risk for flooding during hurricane season (i.e., June to November), while the Midwest is more at risk in the spring and during heavy summer rains. Ice jams occur in the spring in the Northeast and Northwest. Even the deserts of the Southwest are at risk during the late summer monsoon season.

Basic Safety Tips:

  • Turn Around, Don’t Drown! ®

  • Avoid walking or driving through flood waters.

  • Do not drive over bridges that are over fast-moving floodwaters. Floodwaters can scour foundation material from around the footings and make the bridge unstable.

  • Just 6 inches of moving water can knock you down, and one foot of moving water can sweep your vehicle away.

  • If there is a chance of flash flooding, move immediately to higher ground.

  • If floodwaters rise around your car but the water is not moving, abandon the car and move to higher ground. Do not leave the car and enter moving water.

  • Avoid camping or parking along streams, rivers, and creeks during heavy rainfall. These areas can flood quickly and with little warning.


For safety information on earthquakes, click here. For any other disasters, click here.

 

0

Claudia Hargrove Thoughts

While no one can know for sure what will happen to housing values, if you make the choice to buy a home that meets your needs and priorities you’ll be happy to live in it for years to come.

Neighborhood or Home Amenities

For some homebuyers, living in a particular neighborhood takes precedence over all other priorities, but for others, the home itself matters more. Ideally, you’ll find the perfect home in the neighborhood you love at a price that’s below your budget, but realistically, most people have to make some compromises.

Find homes for sale on You (and your spouse, partner or family) should make a list of what features you want in a home, such as the number of bedrooms, a fenced yard, granite counters in the kitchen, and then rank them in terms of priorities. Think about whether the house or the community matter more to you, and whether it’s worth it to you to make a longer commute in order to live in a home with a larger lot.

When to Compromise

Once you’ve determined whether the location or the house itself matters most, you may have to compromise on some of your priorities. If the location is the most important factor for your home choice but you find that homes are priced above your budget, you can compromise in several ways:

– Look for a different home type within the community, such as a smaller single family home, a town home or condominium. Decide if you can live with one less bedroom or other features on your list.

– Consult with a lender or a financial planner to discuss your options for increasing your budget. While no one should overspend on a home, you should recognize that going $10,000 above your price range when you’re financing your purchase with a 30-year fixed-rate loan will actually add only about $30 to your monthly payment.

– Lower your expectations about the condition of the home. While everyone prefers a move-in ready home, you can often get a better deal on a home that needs some cosmetic repairs. Be careful, though, to have a home inspection and to evaluate the structure of the home to see that it meets your needs. Moving walls and adding a bathroom are costly renovations, while painting and replacing appliances are more reasonable.

If you have your heart set on a specific home style or a home with a larger yard for your children or to garden, your compromise is more likely to be in the location. If you’re willing to commute farther or perhaps choose a home in a community next to the ‘hot’ neighborhood, you can often find a more affordable home that fulfills your wish list. An experienced Realtor can help you determine when and how to compromise and should take the time to show you a variety of alternatives so you can make an informed decision about when to make an offer. – Think you might be ready to buy? Visit our newest addition, Doorsteps, to explore the home buying process at your own pace. On your own terms.

To read more, or to view homes in your area, click on this link.

0

Claudia Hargrove Thoughts
Analysts at realtor.com have once again gathered data and compiled a list of the latest market trends in El Paso, Texas:

New Listings: 231
Since the end of July, 231 new homes have been added to El Paso’s real estate market. Browse the new properties here.

Price Reductions: 131
Since the last market report from realtor.com, 131 properties have lowered their asking price. Click here to view these properties.

Median Days on Market: 91
According to realtor.com, the average amount of time a home stays on the real estate market in El Paso, Texas is 91 days. More stats can be viewed here.

For more information, or to view all listings in El Paso, click on this link.
0

Claudia Hargrove Thoughts
Here are some not-so-known listing tips that can boost your property’s listing value:

1. Staging changes from season to season
The concept of staging was once a secret. That cat’s been out of the bag for a while now, but the practice of staging homes continues to evolve — and it can be much more complicated and elaborate than simply creating a cozy conversation area in a living room. For instance, did you know that it’s better to use shorter furniture during summer months? “It makes the room feel bigger, longer, and in the potential buyer’s mind, a better fit,” says Brian Pickler, president of Nadeau – Furniture with a Soul. Another staging secret is to play soft background music during showings to make a home seem cozier.

2. People love a healthy lawn
Who can resist the smell of freshly cut grass? Apparently, buyers can’t. Bryan Clayton, CEO of GreenPal, knows one Nashville, TN, real estate agent’s secret: “She uses our platform to order last-minute lawn mowing before every showing. I’ve seen her get one home’s lawn mowed three times in one week.”

3. Pricing-strategy bands are important
Setting the right price so your home will sell is not a secret, but have you ever heard of pricing within “bands?” Don Tepper, a Virginia real estate agent, explains: “Buyers who want to spend $340,000 on a property may look between $325,000 and $350,000. If that’s the seller’s target market, then pricing a home at $351,000 will result in a lot of potential buyers missing the listing altogether.” So what’s the secret solution? Tepper says to price the home at $349,000. If you price it at $351,000, you’ll get people looking at the band between $350,000 and $375,000. “Those buyers probably want something fancier or nicer than a $351,000 house,” he says.

4. Black holes exist in real estate listings
People can’t see black holes; no light gets out, making them invisible. If your listing falls into a real estate black hole, no one will see it either. “Most cities have listing black holes — times when listings get lost to weekends of sun, family vacations, and nonbusiness topics,” says Matt Parker, a Seattle, WA, real estate agent. If you list right before people go out of town, such as before Memorial Day or the Fourth of July, your listing may get buried before potential buyers see it.

5. Exaggerations in listings only disappoint
People on dating sites often fudge their age or post a photo that makes them look more athletic than they really are. This works in the short term to capture attention, but when the face-to-face meeting happens, those exaggerated online claims often lead to disappointment. The same happens with real estate listings. “If your home is located near a tiny pond, don’t describe it as if it’s this huge, luxurious waterfront lake desirable to all,” says Chantay Bridges, a Los Angeles, CA, real estate agent. “Take what you do have and describe the best features of it. Otherwise, buyers may be turned off and disappointed.”

6. A listing can’t sit too long
In a hot market, “too long” for a house to sit unsold is three to four weeks, max. “That’s a sure sign [the house] is overpriced,” says Miller. If you don’t want to appear desperate by dropping the value, price the home realistically from the start. “It’s much better to be in a position where the seller has multiple offers than to get greedy trying to obtain an unrealistic price — only to reduce it later,” Miller adds.

7. There is a home-buying month
Many real estate agents mark February’s Presidents Day weekend as the unofficial start of the housing season, which runs through September. There is then a steady decline in activity until the next year. But there’s one month during housing season that consistently performs better in sales than all the others. Can you guess this secret month? If you answered June, you would be correct. Housing sales in June are typically 29% above average.


Thanks to Laura Agadoni for these insightful tips.

0

Claudia Hargrove Thoughts
Here are my top five favorite tips ( courtesy of USA Today):

1. Start saving for a down payment early
It’s common to put 20% down, but many lenders now permit much less, and first-time home buyer programs allow as little as 3% down. But putting down less than 20% may mean higher costs and paying for private mortgage insurance, and even a small down payment can still be hefty. For example, a 5% down payment on a $200,000 home is $10,000. Play around with a down payment calculator to help you land on a goal amount. Some tips for saving for a down payment include setting aside tax refunds and work bonuses, setting up an automatic savings plan and using an app to track your progress.

2. Check your credit
When you’re taking out a mortgage loan, your credit will be one of the key factors in whether you’re approved, and it will help determine your interest rate and possibly the loan terms. So check your credit before you begin the home buying process. Dispute any errors that could be dragging down your credit score and look for opportunities to improve your credit, such as making a dent in any outstanding debts.

3. Pause any new credit activity
Any time you open a new credit account, whether to take out an auto loan or get a new credit card, the lender runs a hard inquiry, which can temporarily ding your credit score. If you’re applying for a mortgage soon, avoid opening new credit accounts to keep your score from dipping.

4. Consider what type of property to buy
You may assume you’ll buy a single-family home, and that could be ideal if you want a large lot or a lot of room. But if you’re willing to sacrifice space for less maintenance and extra amenities, and you don’t mind paying a homeowners association fee, a condo or town-home could be a better fit.

5. Set aside more money for after move-in
Sorry, that’s not all you need to save up for before home shopping. Once you’ve saved for your down payment and budgeted for closing costs, you should also set aside a buffer to pay for what will go inside the house. This includes furnishings, appliances, rugs, updated fixtures, new paint and any other touches you’ll want to have when you move in.
0

PREVIOUS POSTSPage 1 of 3NO NEW POSTS