Joey Condon

Real Estate contracts are full of legal terms that can be difficult to understand. Be sure to ask before you sign - any misunderstanding may be costly to you in the future. I am here to help you with any real estate question you may have. Here are a few definitions that I think may be helpful when thinking about buying a home.

• Adjustable-rate Mortgage (ARM) - A mortgage that does not have a fixed interest rate. Based on market conditions, the rate can increase or decrease, affecting your payment.
• Private Mortgage Insurance (PMI) - This fee protects the lender against a loss if a borrower defaults on the loan and is added to the monthly mortgage payment. PMI is usually required if the down payment is less than 20% of the purchase price. VA, FHA, VA Guarenteed loans fall into this catagory. Payments can be reduced sometimes by over $200 a month if you are able to put 20% down.
• Fixed-rate Loans - A mortgage that has a fixed interest rate throughout the life of the loan. Repayment terms are generally 15, 20, or 30 years. Payments stay the same unless refinancing is done.
• Escrow - Monies or documents held by a neutral third party before closing on a property. It can also be an account held by the lender, usually set up to pay for taxes and insurance on their investment.
• Loan Origination Fee - A fee charged be the lender for processing a loan. All lenders charge different amounts so it is always best to shop around, they will compete for your business.
• Points - These fees are paid to the lender for the loan, usually in relation to the interest rate. One point is equal to 1% of the principal amount of a mortgage loan. You can "buy down" your interest rate to lower your monthly payment.
• Lock-in - A written agreement setting a specific interest rate on a home loan. The lock-in is typically good for a specific time, usually 60 to 90 days.
• Offer - When one person proposes a contract to another; if the other person accepts the offer, a binding contract is formed.

When buying a house in College Station you always need to make sure you are making the right decision when filling out a contract or offer on a house. Buyer's remorse is not something you want, I can make sure that doesn't happen.

Call me with all your Real Estate Contract Questions!

Joey Condon, Realtor

Rock Solid Real Estate!

The Insurance Information Institute warns against cutting your homeowner's insurance during hard economic times. Being under-insured can cost you more in the event you have to make a claim. Be wary of the following:

1. Insuring a home for its real estate value rather than the cost of rebuilding.
2. Selecting an insurance compnay by price alone.
3. Dropping flood insurance if in an area wher it is not required by the lender, but ther is a chance of flooding.
4. For renters, neglecting to purchase renter's insurance.

In most situations, Homeowner's Insurance is not an option, it's mandatory. Most lenders require insurance to be provided by the owner, and if the owner fails to provide what the lender wants, they can provide coverage but at a premium price for the owner. Please avoid that at all cost, insurance is expensive enough. What you can do to lower your insurance premium.

• Policy discounts - check with your agentInstall additional smoke alarms and fire supression systems
• Make sure your agent services your policy annually - they may find deductions that wer not there previously
• Take a higher deductable out just like you would do for your auto insurance
• Have a security company service your house with an alarms systems and break-in notification

Homeowners in Bryan and College Station take a moment, analyse your insurance needs and make the changes where needed.A standard policy covers the structure of the house, your personal belongings (with certain limitations), liability to others, and living expenses in the event your house is unlivable. Please contact your insurance agent and ask questions about what they offer, what discounts are out there that you may be able to take advantage of, and shop around!!! Bryan and College Station have a wealth of great insurance agents ready and willing to provide you with any and all the information you need to make an educated decision. Don't take a chance on being under-insured or without insurance, the consequenses are enormous. I am here to help every homeowner with all their real estate needs. Call me, I can help!!

Joey Condon, Realtor

Everyone knows that "first impressions count" when meeting new people, when interviewing for a job, really for doing just about anything!! Selling your house also falls into that cliche. The market has spawned a buyer that has the opportunity to be very picky and they are unforgiving! To be able to stand out from all the rest, sellers are being forced to pay closer attention to detail and make sure their I's are dotted and their T's are crossed. What should sellers do to give that first impression that will hold buyer's attention long enough for them to see the true value of their home?

• Touch up paint on windows, trim and doors is a must do project
• Clean the windows inside and out
• Clean masonry & porches
• Use landscape lights on side walks and driveways
• Keep gutters and downspouts in good condition and cleaned out. Ensure downspouts direct water away from the foundation
• Use seasonal flags and plants for decoration
• Keep grass mowed and edging trimmed
• Cut overhanging branches away from the house, this helps with inspections also

When selling your home in Bryan/College Station, Tx. make sure you pay close attention to details. Even the smallest oversight can turn that buyer around and lead them out the door to another house. Hire a professional, like the agents at Century 21 Beal, Inc. to provide you with the advice to maximize your chances of selling your home. The Bryan real estate market and the College Station real estate market has changed with most other markets, and sellers need to reevaluate their strategy for selling. The first time home buyer is very frugal and wants a good deal when purchasing real estate. You can't blame him - I am looking for a good deal too! Joey Condon - Rock Solid Real Estate

Our market has turned!! It is now a buyers' market and the buyers are excited to be at an advantage. Even if the buyers' market will not last long in our area. Sellers need to be aware that the buyers' agents know this and they will be negotiating with that in mind. Here is some advice for sellers in our market to assist their agent with negotiating with the buyers' agent. Beside price, the best way to sell your home in a down market is to:

• Hire an aggressive agent who shows you a plan for selling your house - and make sure they follow through.
• Give your house a facelift with new paint and repairs.
• List it online with such sites as eBay and Craigslist.
• Offer to pay the buyer's closing costs.
• And finally, take any reasonable offer.

<!--more--> Lenders have tightened the reigns on buyers so the seller has to be a little more flexible and open to looking at every offer that is presented by buyers. "Lenders have really tightened up their lending criteria and this is where sellers have to become more imaginative and creative," said Delores Conway of University of Southern California Marshall School of Business. So, Sellers in the College Station real estate market remember to listen to the great listing agent you hired to assist you with the sale of your home and be open to any and all recommendations they have to offer. We have been doing this for many years and we know how to sell. Contact me with any questions you might have on selling in the Bryan/College Station area or questions about Real Estate in College Station or Bryan.

Some days you might get the feeling that life is strangling you and you feel weighed down. I know I do especially now that I have two new residents at my house, I recently won custody of my two children, Hailey and Hunter. This life changing event has caused a few stressful moments so far, but one I have felt most is the loss of TV time, but I love it. So, if you're feeling like you need a lift, I have a pick-me-up for you. If your kids are in Little League this may be a perfect time to show them this also!! http://www.heraldleaderphoto.com/2008/05/31/