Girl, Where Have You Been?

So my last post to this blog was in February and some of you may be wondering "Girl, where have you been?". I may not have the largest following but I'm grateful for those that are loyal to following this blog.

To be transparent, December of last year I was in a car accident. I really don't talk much about it because I try to show my best self everyday. Let me tell you it was stressful but here is the "short" version of story. I didn't use an attorney because after researching online, with my level of injuries it was better to pursue the case on my own. I really have to give a lot of credit to google and it's amazing search engine. I was able to provide a diagram of the accident with thorough explanations, police reports from the scene, photos, and videos.  It was determined that the other party was at fault (After a 3 week battle) and the insurance company said the video footage submitted was the most weighed factor in their decision. I have to say through this experience I really am encouraged to purchasing a dash camera. Dash-cam footage has been the only real way to substantiate claims these days. And I'm not saying people are dishonest but the other party definitely didn't have the truth in them. It's no wonder why dash-cameras are required in some parts of the world.

I had to do therapy for about five or six months. The insurance company only gave me 4 days to replace my vehicle. Can you imagine on top of everything you have to do trying to replace your car in only 4 days? It was a nightmare trying to balance work, life, recovery, and trying to close this chapter in my life.

In June, I finally settled with the insurance company for a five figure amount that I was satisfied with. Again, google helped me a lot in that area as well. I used an online calculator to determine a fair amount to start negotiations based on medical expenses, lost earnings, future lost income, estimated future expenses, multiplier for damages, and finally pain & suffering. To add to the stress I later found out that the hospital put a lien against me for the balanced owed. Gratefully, God kept me in good spirits.

The experience that I went through was crazy (to say the least) and I definitely wouldn't wish that on anybody. I thank God for his covering on me, his comfort during my break downs, and his grace as I pressed through.

I'm blessed to be alive today and that is just further proof that God is not done with me yet. I've got way more to do.

Remember you can reach me on social media at the links below. Don't forget to use the hashtag #RealtyMeDallas #RealtyMeSold

Until Next Time...✌😉

http://www.realtymesold.com/

    

Tax Return Season - Uses Towards Your New Home Purchase

So writing a blog is still new to me. I may have underestimated the frequency needed for most readers. How often do you read blogs? Everyday, every week, or every month? Let me know in the comments below.

 It's officially tax season and I'm so excited! Tax season is the time period in which the real estate market typically picks up. More buyers hit the market because they can utilize their returns to help contribute to their downpayment. 

Now I am in no way prepared just yet to file. However I did set an appointment with my accountant, I just need to do all the preparations. ( Which seems to take forever for entrepreneurs ) so to all the accountants out there in the world, I apologize in advance on behalf of all the self-employed. I apologize for all the receipts you must got through and any other turmoil you may experience just to file our returns. I thank you from the bottom of my heart. You are greatly appreciated!

Did you know there are many other ways to utilize your tax return towards your new home purchase besides using it as extra money for a downpayment? Today I'm going to share with you some information on utilizing your tax refund to help buy a home. I've helped clients realize their buying power with just a few of the tips I've shared below. Another reason why you should hire me as your agent when purchasing a home! 😉 *small plug*

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For those of you who will receive a return during tax season it's good to know how you can make that return beneficial as a potential buyer to buy a home. Below is a list of 4 different ways to make that happen:

1. Use the funds as a downpayment

If your down payment is as big as 20% or as little as 3% down, it is often the biggest obstacle to overcome in purchasing a new home. 

2. Pay for closing costs

Not everyone is eligible for a $0 down loan program such as VA or USDA. Closing costs are the next biggest expense after a down payment. 

3. Buy down your interest rate

If your down payment & closing costs are already take care of and you intend to stay in your new home for 5 years, you may consider paying discount points to obtain a lower rate. This may save you thousands of dollars over the life of your mortgage. 

4. Eliminate Private Mortgage Insurance

If you are not paying at least 20% down, you will likely have MI (Mortgage Insurance). However, there are specific programs that allow you to pay the mortgage insurance upfront (as a one-time fee) and saving you thousands over the first few years as well as lower your payment.


*IMPORTANT NOTE* I am not a CPA or Tax Advisor. Any questions on the specifics above should be directed to your tax professional and/or the IRS website.


Works Cited
Davidson, Linda "Ask The Mortgage Expert" Real Estate & Friends. April 2015: 34

That concludes today's blog. You can also reach me on social media at the links below. Don’t forget to use the hashtag #RealtyMeDallas

Until next time....

    

Are Students Loans Preventing You from Deciding to Buy a Home?

Many people have mentioned they would buy a home but their student debts are an obstacle to their homeownership dreams.

If you can relate to these people, there are few things I want you to keep in mind:

• Do you have a repayment plan? 
• Lenders will want to see that you are paying on the loans and, if possible, an income-based repayment plan.
• What's your debt-to-income ratio?
•  It’s not just student debt that will affect your ability to borrow for a home. Your overall monthly debt-to-income ratio must be below 43% to qualify for most mortgages.
• How much can you save for a downpayment? 
• Committing to a larger downpayment will make you more attractive to lenders, but if you can’t afford that, it’s worth investigating whether your individual situation would be a good fit for an FHA loan.

I hope these tips help you in your decision to pursue homeownership. Remember you can reach me on social media at the links below. Don't forget to use the hashtag #RealtyMeDallas

✌😉

    

Peek Dont Speak

Imagine yourself touring a home with your real estate agent and gather in the living area or foyer to discuss the property. You begin to state what you like, what you don't like, personal comments, and strategy on price & terms of a potential offer.

STOP IMMEDIATELY! 🤐

Anytime I show homes I always advise my clients to hold all comments until we've exited the property or are in the car. Why? Two words, IN-HOME SURVEILLANCE.

Surveillance cameras in the home have gained popularity for parents to check on nannies but are increasingly used by homeowners to keep an eye on buyers touring their property. Many owners may be trying to capture incidents of theft or damage but they also are able to hear/see what buyers think of their home.

Video shots on hidden cameras are often legal in all 50 states. In the state of Texas capturing the audio portion of the video is also legal since they require only one-party consent to record audio.

When you are ready to start shopping for a home be cautious that all comments you make while viewing a home -even body language- could be captured on camera and used by homeowners to gain an edge during negotiations. Just imagine the counteroffer the seller would make if they heard how much you loved the property and would be willing to offer more than asking.

Thanks for reading this month's post. Remember you can reach me on social media at the links below. Don't forget to use the hashtag #RealtyMeDallas

    

Quick Tips - Homeowners and Unpermitted Improvements

Are you thinking of making improvements to your home for really cheap?

Maybe you are considering listing the home and you want to increase the sale price through an addition or make structural repairs but also want to avoid the cost of pulling permits from the local building department.

In situations like this, you might be unaware of how unpermitted work can derail a sale or present other issues down the road.

If it’s a major change, such as a new bathroom or converted bedroom, it might set off red flags during an inspection, where the current state of the home would differ from previous descriptions. Additionally, the Seller’s Disclosure Notice requires the seller to mark if he is aware of work done without necessary permits. Not disclosing unpermitted work could result in a costly lawsuit.

Scaring off a buyer isn’t the only potential risk of unpermitted work: it could cause issues with financing, result in fines from local authorities (representing another possible lawsuit), disadvantage the seller when it comes time to negotiate, or put the next owner at risk if the work wasn’t done safely or to current building codes.

While painting or changing a light fixture are fine to tackle on your own as a homeowner, larger projects should be done with the correct permits and ideally by a bonded and insured professional.

Want my updated list of the best plumbers, painters, etc? Download my free app: https://www.homekeepr.com/join/charisse-williams-1

Remember you can reach me on social media at the links below. Don't forget to use the hashtag #RealtyMeDallas

✌😉

    

Did You Know?

Check out today's helpful tip on drying up those water rings!

Remember you can reach me on social media at the links below. Don't forget to use the hashtag #RealtyMeDallas

    

Singles Buy Homes Too!

Today's post I take very personal because the story really hit home for me. My friend and I were having a very interesting conversation about singles in the buying market. I had mentioned to my friend how important it is for singles to buy a home and my passion to educate them on the benefits of becoming a homeownership. My friend gave me the side eye and said "Why is it important for singles to buy a home when you yourself are single and don't own a home? Just doesn't make sense." 

My jaw dropped and I was so offended yet, appreciative. I was shocked that anyone would have the audacity to question my passion and professionalism but, I was also glad that my friend challenged me to practice what I preach. And how did I not think that it would be unreasonable to instruct every single I know on how beneficial it is to buy home and I myself have not purchased a home? I mean in all reality it only makes sense that I would be a homeowner as well in the business of real estate. Especially if I speak so passionately about it. So Then I thought to myself, "Why don't I own a home? What is it that keeps me from mentally making the decision to buy a home?"

I immediately thought back to my upbringing. Being raised in an household which emphasized how very important it was to get married, create a family, and buy a home. In that order. I had imagined that I would meet my future husband and we would buy a home together. Let's get real. I didn't see myself buying a home alone. That's the truth. (That's my truth anyway) I'm pretty sure that it's also the truth for many singles out there. Love doesn't have to come first before buying a home.

Now that you heard my truth, what's yours? Do you think it's not affordable to buy as a single person? Afraid you will out-grow your space when you find love? 

Let me start off by listing some good reasons why singles should buy a home.

- [1 ] Buying a home gives you a sense of pride and freedom. It's yours. No one can tell you what to do. (Except for city code/ordinances, or Homeowners Associations) More like how many pets you can have, what colors your walls can be, not putting holes in the walls to hang decor, having a grill on the patio, etc. And don't get me started about the fact you have to fight for your deposit to be returned! *you can't see my face but it looks angry* lol

- [2 ] Rates are still at a historical low right now. Currently at 3.62% (which back in 2007 rates where as high as 12% and 15%. Not only that you would have a more consistent payment amount for 15-30 years versus paying rent that's only fixed for 12-24 months. So, no more dealing with rental rate hikes at the end of your lease that force you to move from apartment to apartment. 

- [3 ] We are not alone. There are many singles out there buying homes. (However I feel like there could be a lot more) According to the National Association of Realtors 2015 Profile of home buyers and sellers, 9% of the buying market was represented by single men and 15% of the buying market single women. 

- [4 ] Build your wealth. By buying a home you gain an asset and with every payment you are building equity. As you are paying down you mortgage, you are building you wealth. You're not making yourself rich for every month that you pay rent. Instead, you're making your landlord rich. ?Ain't that something?

- [5 ] Get tax-deductible benefits. Did you know that homeowners are allowed to deduct the mortgage interest from their tax obligations? Yes, it's true! Paying rent doesn't give any tax breaks. Not only that but in the state of Texas if you occupy the property, then you can file for a homestead and pay less in property taxes. #Winning!

- [6 ] Leverage opportunities. I really want to you to know that investing in yourself can start at early age as well. Owning a home now can be a huge leverage tool in the future. For instance, should you outgrow your space you can sell the home you own and use the equity as contribution towards your bigger dream home. Or you can rent out the current home for a passive additional source of income. Not only would you collect a monthly payment on your investment property but you are still building equity with every payment that is collected. 

- [7 ] Downpayment Assistance Programs. Although you may be buying a home by yourself, there is financial help out there. Especially for first-time homebuyers. The program's vary by city/county but you can pay very little of a downpayment with assistance from local government programs. 

So while you're reading this I would love to do an exercise with you. Take a pen and paper or open an app on your phone to take notes for all my tech savvy people. Write down how much you currently pay in rent every month. Multiply that number by 12 (months in a year). Now, take your total figure and multiply it by however many years you've been renting. What's the magic number you have? Shocking isn't it? For me when I saw my number, I realized that I could have paid down a mortgage by a good lump sum. Don't let that number get you down. Let it motivate you because there is light at the end of the tunnel my friend. 

Ladies and gentlemen how long will we continue to go down this path of renting and wasting our dollars and not investing in ourselves? At the end of the day, just because you're single doesn't mean you can't buy a home. If you were raised in any way like me don't let traditions or upbringing prevent you from having wealth. You now know that there are personal benefits to becoming a homeowner such as being the King/Queen of your own castle. There are also financial benefits by creating an asset and building equity. And finally there are future benefits in using you first home as leverage to buy the dream home or utilizing it as an investment property and collect a passive additional income. 

I myself have now started looking for a condo. Yes! No longer will I wait for my Boaz. However I'm pretty sure that he'll appreciate that his Ruth (yours truly) will have assets to bring to our joined relationship. I can still buy a home to watch my family grow but right now I need a place in which I can grow. I hope that my testimony has been just as convincing as it is informative for all the singles out there in the world whose perspective on buying a home may now be open to change. So my final thought/question would be to all my singles out there, would you buy a home today and if not why?

Remember you can reach me on social media at the links below. Don't forget to use the hashtag #RealtyMeDallas

✌😉