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is your premier Realtor in the Greater Odessa - Midland TX area. A specialists in Odessa TX homes for sale and a great source of real estate located in communities in the Permian Basin throughout West Texas. When you plan to buy or sell Odessa area real estate, allow her to work for you.
Donna Edwards is a broker associate of DeRiso & Haynes Realty, a highly regarded boutique firm of Odessa Realtors - selling more homes annually than any other firm in Odessa! For more information on how we can best serve your real estate needs, please complete our online contact form below or give her a call at 432.934.4439 or by email at donna@OdessaMidlandHomes.com . Also, check out what fabulous clients have to say on her testimonials page!
LivingOdessa.com OdessaMidlandHomes.com
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I recently had a buyer client who is looking to search for a home for sale in Odessa TX. She and her husband are in the process of getting qualified for a home loan. They have a good idea about how much they want to calculate their monthly house payment but are a little confused about how the price of the house will affect their overall payment. This is a very common concern when the house they really want is, for instance, $5,000 more than what they had thought they wanted to spend.
All of this is with the assumption that the buyer can afford a price they are considering; if not they need to get realistic and shop for a home within their means.
The truth is, sometimes it is actually cheaper for someone to purchase the "right" house for a few thousand more. In the big scheme of things it may be better to purchase a home that has been well maintained rather than making ongoing repairs left neglected by the previous owner. It could be they save on the initial price but end up sending their child to private school because they didn't buy in their favorite Ector County School.
I told them you can easily calculate house payment while you search for a home. So I worked up the following scenario for them that they found extremely enlightening and has freed them up to make the right decision for them so I decided to share it.
At your price range and interest rate you can use this rule of thumb: for every $1,000 (+/-) in the price of the house (+/-) $6 to your payment. So a house that is $10,000 less you can expect to save $60 a month. $10,000 more you can expect to pay $60 additional a month. The reason the difference is not large is because your payment doesn't only reflect what you paid toward the house but the bulk of your house payment is interest, taxes, insurance, mortgage insurance ect...
With the above in mind, I like to translate that into objects you want vs what you can live without. In my family, $60 is a meal eating out. So if I want to eat out one more time a month, I need to look at a house $10,000 less. If I want to spend $10,000 more toward a house, I better be looking at eating dinner at home. For some the give and take may be something else such as dance lessons or deluxe cable or _____________ (fill in the blank).
Don't get stuck on a set house payment but look at how your quality of daily life will be affected; after all buying a house is a long term commitment.
Make It Your Own...
Search the MLS - Homes for Sale in Odessa - Midland TX
Serving West Texas & Permian Basin - Licensed Texas Real Estate Broker - DeRiso & Haynes Realty - Odessa, TX
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I may not have super powers but I can see into the future (okay, sometimes!) As an Odessa TX Realtor I am constantly looking out for your best interesest - I anticipate things before the happen.
I oftain see an issue with a Odessa home for sale or financing that could cause a problem at settlement. That's where my experience as a Texas Real Estate Broker comes in. I'll attend to the dozens of small details now before they can turn into something big later on.
You can rely on my real estate education and experience in Odessa TX Real Estate to give you the best service possible. Really.
I'll admit it. Knowing everthing about buying a home in Odessa TX can be overwhelming to someone who doesn't do it everyday. Fortunately, that is exactly what I do everyday. It's my responsiblity to make the process simple and straightforward to you. A big part of being a good Realtor in Odessa TX is knowing the right people to help the deal go smoothly; and I know them.
Working with so many types of Odessa home buyers is especially gratifying. It gives me great satisfaction when I can help first time home buyers purchase. their home. I appreciate their unique needs and work patiently with them, bringing sense to all the confusion!
I really believe my honest, genuine approach to helping people has allowed me to grow as a real estate agent. It's true; integrity is something you can't fake.
I am Donna Edwards and I want to be your REALTOR.
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QuestionI would like to find a fairly cheap house to fix up must be a three bedroom, since finding a house to rent in Odessa seems to be harder than it looks we are trying this option?
You are not alone. Many people find it difficult to find a house to rent in Odessa TX.
If you can buy a home, now is the time. Interest rates are low and home prices are stable.
The first key thing is do you qualify for a loan. Unless you have enough savings to pay cash (most people do not) than you will first want to know if you can qualify for a loan and how much they will lend you based on your current debt and income.
Second, buying a fixer upper in Odessa TX is a great way to get into a home with the lowest amount of upfront investment. It is called "sweat equity" because you can build equity in your home by buying low, put your own "sweat" into it and later selling a much more valuable property.
The third consideration is whether the the house qualify for a loan. I already described that you must qualify for a loan but the house must also qualify. Lenders have condition standards that the home must meet. They want to be assured that the property is in reasonable condition before they will be willing to loan the money for a purchase. The reason is that if you default on the loan, they want to know they will be able to recoup their investment when they have to re-sale it.
There are many scenerios to consider so unless you are experienced in real estate, you will want to hire a buyer's agent to assist you through the process of a home purchase. (see Why Hire a Buyer's Agent? )
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Location: University Gardens
This lovely University Gardens home is ideal for entertaining; from formal dinner parties to an informal backyard swim.
Features Bedrooms: 3 Bathrooms: 3.5 Year Built: 1977 Subdivision: University Gardens Lot Size: .328 acre Garage Size: 2 School District: Ector County Schools Square Footage: 3180 Agent Name: Donna Edwards Broker: Legacy Real Estate MLS #: 80145 www.DonnaSellsOdessa.com www.OdessaMidlandHomes.com
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