Pearland Texas Real Estate

Confused by all the different real estate lingo?

I often get a lot questions from Pearland home buyers on the meaning of certain real estate terms. It can all be overwhelming for a new home buyer or even an "old pro" as the real estate market is always changing. Below is a list of common real estate terms and definitions that may help you in your search to buy a home in Pearland. This is not a definitive list but it can help you understand the Pearland real estate market better.

REALTOR®- a real estate broker or sales associate who is a member of the National Association of REALTORS®. Not all real estate agents are REALTORS®.homes that are comparable to a subject home and that were recently sold, are currently on the market or were on the market, but not sold within the listing period.

Contingency - a addendum to the executed contract stating that the sale is contingent on the buyer closing on and funding on another property..

Underwriting - The process in which lenders evaluate the risks posed by a particular borrower and set appropriate conditions for the loan. 

Underwriting Fee - A fee charged by the lender to verify information on the loan application, authenticate the property's worth as collateral, and make a final determination about whether to grant a loan to the applicant.

VA Loan - A loan through the Veterans Administration program, which allows most veterans to purchase a house without a down payment.

Discount Points -  Points a lender charges to reduce interest rate; may be paid by either buyer or seller on conventional loans; one point is equal to 1 percent of the loan value.

Variable-Rate Mortgage - Any real estate loan in which the interest rate varies over time according to a prescribed formula or set of conditions; usually changes in economic conditions. (Also known as an adjustable-rate mortgage).

Adjustable Rate Mortgage - Any real estate loan in which the interest rate varies over time according to a prescribed formula or set of conditions, usually changes in economic conditions. (Also known as a variable rate mortgage).

If there are some real estate terms you have heard that you are not sure what they mean, please give me a call! I have over 15 years of helping people buy and sell houses in Pearland.  Let me know how I can help you find your Pearland home today!

Great Home for sale in Pearland with Acreage

2138 Hatfield Road in Pearland Texas

Large $20,000 Price Reduction, now listed for $224,900

Included in Price is 5 acres, Home, Barn, & Two Ponds

The Best of Both Worlds This great home is right in the heart of Pearland on a 5 acre lot.

This home for sale in Pearland with acreage is located close to Pearland's shopping, schools, restaurants, and banks. Just minutes from the Beltway and 288! 

The properties special features are an extensive front porch for relaxing and enjoying watching nature, two private ponds, and lots of room for all of your outdoor activities. The island kitchen features a breakfast bar that overlooks the dinning room. The living area has a beautiful fireplace in-cased in ceramic tile. Horses Welcome!

Key Features for this home for sale in Pearland with acreagelocated at 2138 Hatfield Road in Pearland Texas.

• 5 Acres
• Located in the Heart of Pearland
• Two Ponds
• Barn
• Large Front Porch
• Fireplace
• Horses Welcome
• island Kitchen

2138 Hatfield in Pearland Texas has Two private ponds that sit side by side at the back of the property.

Wonderful Beverly Hills Home for Sale

Priced to sell at $89,900

Houston, Texas

MLS # 58269417

WOW!! Stop and Take a look at this Beverly Hills Home for Sale on a corner lot! This nice home features a GREAT floor plan! Oversized large country kitchen with lots of cabinets!

This home also features a convenient inside utility room! Interior and exterior have recent paint. Did I mention the updated Carpet? 

This house is close to I-45 and Beltway 8 with easy quick access to schools, shopping and downtown Houston.

Beverly Hills Full Listing Details

 RE/MAX One Real Estate Agent Maggie McFarland - 281-412-2022

TheHomeSourceOnline.com

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Buying a home may be one of the most important and exciting transactions of your life! This is a great time for buying a home.  Spring is almost here and the interest rates are extremely low.  Plus there is still plenty of time to get in on the $6500-$B000.00 TAX Credit.  The tax credit is for first time and repeat home buyers. This is different from the previous tax credit that only pretained to first time home buyers.

      Helpful Tax Credit Information     

• Repeat or Move up buyers are eligible to claim the tax credit
• Repeat or Move up tax credit is 10 percent of the purchase price up to $6500.00
• Any home that will be used for principal residence will qualify for the credit, provided the purchase price is less the $800,000

When buying a home it is important that you obtain quality information to make an informed decisions about the area, market, inspectors, insurance, movers, etc.  Your Real Estate agent should be able to provide you with plenty of resources and materials for your education.

When Previewing A Home

• Write notes so you will remember the details of the home
• Ask questions about the home and discuss any objections or concerns you may have.
• Ask about the information you are interested in, like the community - schools, shopping and transportation.
• Ask specific questions about the construction of the home; electrical, plumbing, heating, cooling systems, etc. Some of the information will be provided by the seller on the seller's disclosure.

Have Fun
Relax. Finding your new home can be a rewarding experience. Have a good time and enjoy the process.

If you need more information about Buying a Home or the tax credit contact Maggie McFarland 

 When buying a home it is important that you obtain quality information to make an informed decisions about the area, market, inspectors, insurance, movers, etc.  Your Real Estate agent should be able to provide you with plenty of resources and materials for you education. 

Free Buying a home Reports PearlandHomeTeam.com 

• What Happens At Closing
• Thinking About Buying Your First Home
• Moving and Packing Tips
• Finding Your Home
• Common Home Buying Mistakes

Pearland RE/MAX One Real Estate Agent

Maggie McFarland - 281-412-2022

Pearland home on ALMOST 1 ACRE!! Cozy 3 bedroom home with large family room with french doors and cathedral ceiling! Breakfast room has bay window bench storage! Lots of storage space with walk-in closets. This Pearland Property has large patio cover that is perfect for entertaining. Take a look at this home TODAY!

Priced at $99,900

Call Maggie McFarland with RE/MAX One today!

Pearland Real Estate agent!

281-412-2022 Direct to Maggie McFarland

281-997-0707 Office

Click HERE Search all MLS listings at PearlandHomeTeam.com

WoW, what a Home Sweat Home! This home for sale is located in Clear Brook Crossing. Kitchen includes tile backsplash, travertine tile and ceramic tile back splash and is open to family room that has wood laminate flooring, lots of windows, double doors and fireplace. You will also find the travertine tile in the half bath down stairs and the wood laminate in the dining and living room. Even the baseboards have been updated! All this located on a corner lot that includes great landscaping, extended patio and storage building. Call Maggie McFarland Today to view this Clear Brook Crossing home for sale.

Clear Brook is located just minutes from Beltway 8 and I45!

Maggie McFarland - RE/MAX One - 281-412-2022 - TheHomeSourceOnline.com

Pearland Open House this Sunday July 5, 2009 2-5pm

1504 Inverness located in Rustic Oaks subdivision in Pearland

Great Pearland home for sale in a small cozy subdivision off of Dixie Farm Road. Extra features that make this home special are *lots of ceramic tile*granite counter tops*updated windows in 2008* updated master bath, granite counters, shower, tile, shower door*cover patio by Backyard Retreats*large storage building*split bedroom plan*4 bedrooms, study, both formals and 3 full bathrooms! All this equals ONE FINE home. One year home warranty through Allied Home Warranty. HAR mls # 44857184 Put this home on your Pearland Open House list for this Sunday.

For more details on this awesome 1 story home visit PearlandHomeTeam.com

Contact Maggie McFarland of RE/MAX One direct at 281-412-2022

Great time for Pearland First Time Homeowners. News from Maggie McFarland RE/MAX One in Pearland Texas. Below is information from National Association of Realtors. For more information contract Maggie McFarland at 281-412-2022

First-Time Home Buyer Tax Credit for Closing Will Move Market ...

"A true housing recovery depends on buyers returning to the market and reducing inventory," said National Association of Realtors® President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. ...

Magge McFarland RE/MAX One 281-412-2022

More Pearland Real Estate Information Visit TheHomeSourceOnline

THINKING ABOUT BUYING YOUR FIRST Pearland Home?

You've probably wondered many times if you can afford to buy a home. Did you know that continuing to make rental payments may be more expensive in the long-run? When you make rental payments, the money is gone forever. When you make mortgage payments, however, you build equity in your home. The longer you own your own home, the larger your equity becomes. Your home may also appreciate in value, usually at a rate faster than the rate of inflation. In addition, property taxes and mortgage interest paid on your personal residence are usually 100% tax deductible. There are numerous advantages to owning a home. Here are some things to consider when buying your first home.

Obtain Your Credit Report

 

Get a copy of your credit report from the three major credit bureaus (Experian, Equifax,Trans Union) and review the information. Most lenders will get a credit report for you and review it with you as part of their pre-approval process. The sooner you do this the better. If your credit report contain items which need correcting, it's easier to attend to them well before you make an offer. Don't assume you can't buy a home because your credit isn't perfect. There are numerous lenders and loan programs designed for people with less-than-perfect credit. Contact several lenders to discuss your options. In the unlikely event you don't qualify for a loan, determine what steps to take to improve your credit standing and qualify in the future.

Determine How Much Home You Can Afford  

Maggie McFarland can give you a list of Mortgage Companie they can help with this process. Also, many web sites offer calculators that help you determine how much home you can afford. A good calculator will give you a range of affordability. Many of these calculators use standard debt ratios of 28/36. This means that your housing payments cannot exceed 28 percent of your gross income and that your total debt cannot exceed 36 percent of your gross income. However, there are a wide range of programs. Depending on your assets, credit history and earning potential, you may be able to qualify for more than what the standard debt ratio calculations would indicate. Contact a lender to determine of how much you can afford.

Understand The Cost Of Home Ownership

In addition to your mortgage payment, you will also pay for property taxes and home owners insurance. In Pearland the tax rate is different for many of the subdivisions. If you buy a condominium or townhouse you'll likely pay a monthly homeowner's association fee. It is important that you understand the full cost of owning a home in addition to the tax benefits. Many real estate agents and lenders can help you analyze the cost of owning a home. You may also want to consult with an accountant or a financial planner to determine how purchasing a home will help meet your financial goals.

Determine How Much Money You Will Need

Most loan programs require cash to pay for the down payment and closing costs. In today's market most lenders offer a variety of programs and down payment options. Even if you have less-than-perfect credit, you may be able to buy a home with a limited down payment. Many home buyers mistakenly assume they need to save 10 or 20 percent the purchase price before they can buy a home.

Determine How Long Your Pearland Home Will Meet Your Needs

What home features do you require today? When and in what way might your requirements change? Will you have a larger or smaller family in the near future? Will you some day need a home-office or work area? A two-bedroom home, for example, may serve the needs of a couple, but may not be roomy enough for a growing family. What will be required to convert the garage into additional work or living space? Consider how your needs may change before you buy.

Maggie McFarland - RE/MAX One - 281-412-2022- http://www.TheHomeSourceOnline.com

Pearland Real Estate mortgage rate information from Maggie McFarland - RE/MAX One -Pearland Realtor.

Freddie Mac Reports Increased Mortgage Rates For Second Week ...

Move.com Trends real estate blog covers topics such as home ownership, neighborhoods, home technologies, and celebrity homes.

Mortgage Rates Climb in Response to Recent Rise in Bond Yields ...

"30-year fixed-rate mortgage rates caught up to the recent rise in long-term bond yields this week to reach a 25-week high," said Frank Nothaft, Freddie Mac vice president and chief economist." And the slowdown in the housing market has ...

Loan Programs for Pearland Home Buyers

30-Year Fixed-Rate Mortgage The 30-year fixed is one of the most popular loans. Many people like the fixed interest rate and lower monthly payments. But since the term of the loan is long, you'll pay more interest over the life of the loan.

15-Year Fixed-Rate Mortgage† You generally pay a lower interest rate with a 15-year loan. You will pay less interest than you would with a longer-term loan and build equity quickly. Your payments will be higher than those on a 30-year mortgage.

5/1 Adjustable-Rate Mortgage (ARM)† This loan has a fixed rate for the first 5 years and a rate that changes once each year for the remaining life of the loan. Because the interest rate can change after the first 5 years, the monthly payment will increase if rates go up and will be reduced if rates fall.

Interest-only loans This loan has an initial time frame in which only interest is paid, followed by a period of time in which the payment goes up in order to pay down the loan's balance. This is different than traditional mortgages, where the payment consists of principal and interest for the life of the loan. Use the savings from the lower initial payments for other immediate needs, keeping in mind that payments will increase in the future.

Get more Pearland Real Estate information at TheHomeSourceOnline.com

Contact Maggie McFarland - RE/MAX One at 281-412-2022