Real Estate Information

Just A Thought

Monday, May 14, 2012

by The Snowden Team

Whether you're refinancing your current home or buying a new one, something worth considering is a 15 year loan rather than a 30 year term. The payments will be a little higher but you'll get a lower interest rate and you'll build equity much faster.

Let's look at an example of a $200,000 mortgage with the choice of a 30 year term with a 3.75% rate compared to a 15 year term with a 2.875% rate. The payments would be $442.94 higher on the shorter term but the equity would be considerably higher even after you adjust for the higher payments.

Another benefit is that the shorter term loan creates a forced savings situation where the savings on a longer term loan might end up being spent rather than being saved and invested. Contact me if you'd like a recommendation of a trusted lender.

2012 Texas Monthly Five Star Award Winner – Mark Snowden

Wednesday, May 09, 2012

by The Snowden Team

2012 Texas Monthly Five Star Award Winner – Mark Snowden

Congratulations to Mark!

We are excited to announce that Mark has received the Texas Monthly Magazine 5 STAR award for 2012! Thanks to all of his clients that again gave him this vote of confidence!

Here's how they chose the award winners:

Our research team contacted consumers in the Dallas/Fort Worth region and asked if they had experience working with a real estate agent. Consumers who agreed to participate in the survey provided the name of the real estate agent and rated that individual according to key criteria such as integrity, negotiation and closing preparation.

Surveys were sent to Dallas/Fort Worth region residents who recently purchased a home over $150,000 (more than 42,500 households) within a 12-month period (July 2010 to July 2011). An additional 250 surveys were sent to mortgage and title companies.

The survey data was collected and scored, resulting in the list of 2012 DFW Five Star Real Estate Agents. The research methodology allows only 7% or fewer real estate agents in a given market to qualify for the Five Star award.

Five Star Professional follows standard sampling and survey practices used by other professional research organizations. Our research also includes feedback from industry peers and leaders, and a regulatory review to provide necessary checks and balances.

Mark will be happy to provide you with the same level of professionalism to meet your real estate needs. Call Mark TODAY at 817-690-0954.

TAX ASSESSMENT ON YOUR MOST IMPORTANT ASSET

Monday, May 07, 2012

by The Snowden Team

It’s Worth Checking Out - 5/7/2012

"Anyone may arrange his affairs so that his taxes shall be as low as possible...for nobody owes any public duty to pay more than the law demands."
Judge Learned Hand

This opinion refers to federal income tax but the logic and spirit can easily be applied to any tax including property tax. Most property tax is based on a valuation called an assessment placed on the property by a government taxing authority.

When property values rise due to appreciation, the assessments usually rise. However, when values decline as they have done in many areas in the past few years, the assessments should follow accordingly.

If you don’t believe your assessment reflects market value, put together proof to support your position. Recent comparable sales, similar in size, condition and location are very persuasive. Check to see if the square footage on the assessment is accurate. If the home is not in good condition, take pictures to show that.

As your real estate professional, I can supply the comparables, filing deadlines and other pertinent information needed to make a challenge. Lowering your assessment will result in lower property taxes and more money in your pocket.

Contact us if you would like a Market Evaluation to help lower your taxes.

Call the Office at 817-441-7707.

Home With Acreage

Friday, May 04, 2012

by The Snowden Team

Enjoy Peaceful Country Setting on 4.287 acres, small pond, playhouse for the kids * Beautiful Custom Home with Split Bedrooms, 4-2-2 * Large Master with Sitting Area & lots of Extras * Kitchen has Corian Type Countertops, Walkin Pantry, Smooth Stove Top, Upstairs Room is currently a 4th Bedroom but can easily be a Gameroom, Nice Above Ground Pool * Just Minutes From The Courthouse Square!

This is a MUST SEE!

We would love to help you find the right home for you and your family.

Call the Snowden Team TODAY, 817-441-7707 office, 817-690-0954 Mark's Mobile, 817-690-0976 Pam's Mobile, 817-6890-7786 Alicia's Mobile

BEST VALUE IN ALEDO

Thursday, May 03, 2012

by The Snowden Team

JUST REDUCED TO $310,000. OWNER SAYS SELL NOW. THIS HOME IS QUALITY THROUGH OUT AND A MUST SEE!

Immaculate Condition Fabulous Spacious Floor plan * Beautiful Jordan Ranch Estates home * One story home w 4-3-3, Porte-cohere' extra parking * You'll enjoy the beautiful established landscaped acre & low maintenance garden,sprinkler system * Gorgeous hand scraped hardwood floors in living & bedrooms * Huge kitchen has granite counter tops & whirlpool stainless steel appliances * Huge bedrooms & separate Mother-in-law suite. Must See!

The "Right Size" Home

Monday, April 30, 2012

by The Snowden Team

Work hard, buy a home, start a family and continue to upgrade your home until everyone has enough room. This has been the blueprint for lots of homeowners for the last fifty years but there is certainly a shift in thinking that could change all of that.

Interestingly, Americans live in much larger homes than most people in other countries throughout the world. The U.S. Census reported in 2006 that the average single family home completed had 2,469 square feet which was 769 feet more than in 1976.

Once the children are grown and have moved out, homeowners are finding they have too much room. Even if their home is paid for, they have higher property taxes, insurance, utilities and maintenance on the larger home than they'd have if they were living in the "right size" home.

Some homeowners state that they're keeping their larger home because it has luxury features that smaller homes don't have. There's a movement that seems to have started in the United States to find the "right size" home with the amenities and convenience that homeowners want.

This philosophy has been expressed by Sarah Susanka in her book Creating the Not So Big House. It proposes a house that "values quality over quantity with an emphasis on comfort and beauty, a high level of detail, and a floor plan designed for today's informal lifestyle."

US Home Prices Drop for Sixth Straight Month: But Really?

Thursday, April 26, 2012

by The Snowden Team

This was one of the headlines on CNBC this week. Per the Case-Shiller Index, home prices fell in 16 of the 20 cities it tracked.

Now, lets discuss our little pocket of the world. Our local prices were up +4.4% from February's numbers and are up +8.5% since March 2011.

Our local real estate market continues to dominate national statistics.

Real Estate Is Local!

Call us for more details on your local real estate market, 817-441-7707 Office, 817-690-0976 Pam, 817-690-0954 Mark.

Buy or Sell A Home With Us....

Use Our Moving Truck For FREE!

When Mortgage Debt is Cancelled

Thursday, April 26, 2012

by The Snowden Team

The Mortgage Forgiveness Relief Act of 2007 was passed by Congress to avoid additional financial hardship that some homeowners might experience due to a foreclosure or short sale. The law affects mortgage relief that occurs from January 1, 2007 to December 31, 2012.

Normally, IRS considers partial or total debt forgiven by a lender to be treated as ordinary income. This not only affects foreclosures but even short sales where only part of the debt is forgiven would trigger additional taxes for the homeowner. There are exceptions that apply such as bankruptcy and insolvency.

The forgiveness is only applicable to taxpayers' principal residence and only acquisition debt used to buy, build or improve the home. The additional cash taken out when refinancing a home will not be eligible for the relief unless it is used for capital improvements.

The lender is required to submit a 1099 form to IRS and provide the homeowner a copy who will file the forgiven amount on Form 982 as part of their 1040 tax return. How this affects your individual situation may differ due to other circumstances and advice from a tax professional is recommended.

Save Money...Be Comfortable

Tuesday, April 24, 2012

by The Snowden Team

Automatic thermostats can lower your monthly utility costs while conveniently regulating your comfort by adjusting temperatures on your heating and cooling systems. These can be particularly effective in homes with zoned systems where you live in one area during the day but sleep in a different zone.

There are programmable thermostats available at home improvement stores that can make the adjustments for specific times during the day and specific days of the week. They'll allow you to override the setting when needed without tampering with the programming. They'll even remind you to change your filter.

An exciting development is the Wi-Fi enabled thermostat that allows adjustments from any Internet connection such as computer or Smartphone. Imagine how convenient it can be to change your temperature from the car before you get home.

Reasonably priced under $100 for most models, it makes it easy to recapture the cost of the thermostat quickly. Most of the thermostats are designed for do-it-yourselfers; however, you can always have a heating and cooling professional install it for you.

How cool is that. I hope you enjoyed this bit of information. Please let us know if we can answer any of your real estate related questions. Call us anytime 817-441-7707 Office, 817-690-0976 Pam, 817-690-0954 Mark.

Buy or Sell A Home With Us....

Use Our Moving Truck For FREE!

Have You Backed Up Your Home?

Tuesday, April 24, 2012

by The Snowden Team

Personal computers have been around long enough that everyone has experienced or knows someone who has lost their data due to a hard drive crash, accident or burglary. If they had a backup, the loss was inconvenient but not critical.

Do you have a backup for your personal belongings? Not that you need duplicates of all the items but do you have a journal listing of all the items with a description and their approximate values? That record becomes the backup that supports the claim for your insurance.

If a building sustains a total loss, the insurance company will usually pay the face amount of the policy. When it comes to personal property which might be 40% to 50% of the insured value of the dwelling, the insurance company is going to expect an accounting with receipts or at least, a relatively recent inventory.

The better your inventory, the less likely you'll have difficulty with the claim. Almost everyone has a digital camera that can take stills and probably even videos. The combination of the images as well as a written description will help you replace the belongings and serve as proof to the insurance company.

Once you've made the inventory, store it off site for safe keeping. Online storage in the "cloud" might be the best place to insure you'll always know where it is. Contact me for a free Home Inventory form; it's my way of helping you be a better homeowner.