McAllen, TX Homes for Sale | Sermol Real Estate

Monday, October 14, 2013

McAllen 78501 Real Estate & Homes for Sale, McAllen 78501 Houses -Homes

Homes - Find McAllen, TX 78501 homes for sale. View pictures, research home values & local information, and map houses for sale in McAllen 78501.

Home For Sale 3301 N Cynthia Lane McAllen, TX 78501

BEDROOMS: 5

BATHS: 4

1/2 BATHS: 0

YEAR BUILT: 1989

EST SQFT: 3586

# STORIES: 2

AREA: McAllen

SUBDIVISION: Emerald Point

COUNTY: Hidalgo

SCHOOL DISTRICT: McAllen

ELEMENTARY SCHOOL: Milam

MIDDLE SCHOOL: Cathey

HIGH SCHOOL: Memorial H.S.

Eloquent home on a private 1 street neighborhood. Completely remodeled and tastefully updated. Enjoy a resurfaced blue quartz heated pool with valet cleaning system & hot tub. Amenities include solar screens, natural gas, new roof (2012), granite in all baths, maids qtrs. and much more.

List Price: $345,000

Visit our Website: www.mcallenhomeforsale.com

View our Company Video: http://youtu.be/0Zjts7CQGMg

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Monday, October 7, 2013

Rating Man's Best Friend!

Man’s best friend enjoys many of the benefits of his master’s home besides food and shelter and a comfortable place to live and play. In return, dog owners expect companionship and possibly, protection; after all, even a small dog can bark to signal intruders.

Few people doubt that most dog owners love their pets and treat them well. The costs associated with having a dog can include medical and dental that rivals human expenses, premium food, toys, grooming and license fees. However, one of the expenses not anticipated by pet owners is a higher homeowner’s insurance premium.

There are almost five million dog bites a year with children being the main victims.

“Dog bites accounted for more than one-third of all homeowner’s insurance liability claim dollars paid out in 2012, which amounted to more than $489 million,” said Peter Robertson, representing the Property Casualty Insurers Association of America, testifying against the bill at a hearing of the Committee on Financial Services. He said, “The total cost of dog bite claims increased by more than 51 percent between 2003 and 2012.” It is now estimated that dog bites cause losses of over one billion dollars a year.

Some insurance underwriters have denied or canceled coverage or increased the premium of the owner’s liability insurance based on the homeowners’ specific breed of dog such as Pit Bulls, Dobermans, Akitas, Mastiffs, Malamutes and even German Shepherds. The aggressive nature of certain types of dogs combined with specific training or lack of training, abuse or neglect are identified by insurer’s refusal to provide liability coverage.

If you are considering what insurers identify as a high-risk pet, you might want to visit with your insurance agent prior to acquiring your new best friend to see if it affects your rates.

Visit our Website: www.mcallenhomeforsale.com

View our video: http://youtu.be/0Zjts7CQGMg

Wednesday, October 2, 2013

Don't Do It! Before you get into your new home.

You’ve seen agents telling their buyers what to do to find the right home but knowing what not to do can be just as important. After finding the right home, negotiating a contract, making a loan application and inspections, buyers, understandably, start making plans to move and put their personal touches on the home.

In today’s tenuous lending environment, little things can derail the process which isn’t over until the papers are signed at settlement and funds distributed to the seller. Verifications are made by a lender at the beginning of the loan process to determine if the buyer qualifies for the mortgage. The verifications are usually done again just prior to the closing to determine if there have been any material changes to the borrower’s credit or income that might disqualify them.

Simply stated:

1. Don’t make any new major purchases that could affect your debt-to-income ratio
2. Don’t apply, co-sign or add any new credit
3. Don’t quit your job or change jobs
4. Don’t change banks
5. Don’t open new credit accounts
6. Don’t close or consolidate credit card accounts without advice from your lender
7. Don’t buy things for your new home until after you close
8. Don’t talk to the seller without your agent

Your real estate professional and lender are working together to get you into your new home. It’s understandable to be excited about one of the biggest decisions you’ll make and that you feel you need to be getting ready for the move.

Planning is smart but don’t do anything that would affect your credit or income while you’re waiting to sign the final papers at settlement.

Visit my website at: www.mcallenhomeforsale.com

Monday, September 23, 2013

Equity Dynamics

Equity is the difference in what your home is worth and what you owe. Ideally, as the value goes up and the unpaid balance goes down with each amortized payment made, the equity grows from two directions.

This dynamic leads to increasing a person’s net worth much faster than many other investments.

A homeowner has minimal control over value. It is necessary to maintain the property to avoid depreciation and make good decisions on capital improvements. After that, appreciation is generally controlled by supply and demand and the economy.

Mortgage management is something that the homeowner does have control. Making the decision to select a shorter term mortgage at a lower interest rate can have an impact on equity build-up. Lower interest rates amortize faster than higher interest rates which will also affect equity growth. Currently, it is possible to get a 1% lower rate on a 15 year mortgage than a 30 year mortgage.

Compare two alternatives of a 30-year and a 15-year mortgage. The payments will definitely be higher on the shorter term because it pays off quicker. However, if a person can afford the higher payments of $362.53 more per month in this example, the equity will be greater. Even after you take into consideration the higher payments, the increased equity is $17,236 at the end of the seven year holding period.

Another decision that can affect equity build-up is making additional principal contributions along with the regular payments. Whether you’re making an occasional lump sum payment toward principal or regular monthly contributions, it will save interest, build equity and shorten the term on a fixed rate mortgage. Estimate your personal savings with this Equity Accelerator.

Visit our Website: www.Mcallenhomeforsale.com

Tuesday, September 10, 2013

Real Estate News - McAllen Texas

Real Estate News McAllen Texas - Mortgage Interest Deduction

Originally, in 1913 with the Sixteenth Amendment, Income Tax allowed a deduction on any interest paid by a taxpayer. Prior to World War I, most interest was paid for business purposes and very little paid by individuals. Credit cards, revolving credit, student loans and home equity loans that would charge interest would not become popular for decades.

However, by the 1930’s, the Federal Housing Authority was created to help people to finance homes. Later, other quasi-governmental agencies like FNMA, FHLMC and GNMA were created to help facilitate mortgage lending.

Even though, Congress never intended to use this deduction to encourage homeownership, it has certainly benefitted millions of people who couldn’t pay cash for their home. This deduction has made owning a home more affordable for tens of millions of people.

The Tax Reform Act of 1986 eliminated the deduction of interest on most personal debt with the exception of qualified mortgage interest debt. Two new terms were introduced to specify what was qualified.

Acquisition Debt is the amount of debt incurred, up to a maximum of $1,000,000, to buy, build or improve a principal residence or second home. It must be a recorded lien and the amount cannot be increased by refinancing. In other words, the acquisition debt is a dynamic amount that decreases as the loan amortizes.

Home Equity Debt is any amount up to a total of $100,000 over Acquisition Debt. It must also be a recorded lien against either the first or second home. It can be used for any purpose and is no longer restricted to medical or educational purposes.

In the example below, a person borrowed money to buy a home and the entire first mortgage was acquisition debt. The unpaid balance was reduced by the payments made and the acquisition debt followed accordingly. At some point in the future, after the home had gone up in value considerably, the owner refinanced a much larger amount.

The existing acquisition debt was transferred into the new mortgage. Any borrowed funds that were used for capital improvements could be added to the existing acquisition basis. The interest on those funds would be deductible.

The owner/borrower could also deduct the interest on up to a maximum of $100,000 of home equity debt. If there was still debt above the acquisition and home equity debt, it would be classified as personal debt and the interest on it would not be deductible.

Lenders are not concerned if they are making a tax deductible mortgage on a home. They want to make sure there is sufficient equity in the property to secure the mortgage should it have to be foreclosed. A homeowner should consult with their tax professional if there is a question about deducting the interest on their mortgage.

For more information visit our website: www.McAllenHomeForSale.com

Monday, September 9, 2013

Mission Real Estate | Find Houses & Homes for Sale in Mission, TX

Search Mission real estate property listings to find homes for sale in Mission, TX. Browse houses for sale in Mission today!

Home For Sale 4007 Santa Lydia Mission, TX 78572

BEDROOMS: 3

BATHS: 2

1/2 BATHS: 1

YEAR BUILT: 2004

EST SQFT: 2880

# STORIES: 2

AREA: Mission

SUBDIVISION: EL SENDERO

COUNTY: Hidalgo

SCHOOL DISTRICT: Sharyland

ELEMENTARY SCHOOL: Shimotsu

MIDDLE SCHOOL: B.L. Gray Jr. High

HIGH SCHOOL: Sharyland H.S.

RAISE YOUR FAIMILY IN THIS LOVELY 2-STORY TRADITIONAL HOME BUILT BY THE EVER POPULAR DR HORTON ON CORNER LOT NEXT TO PARK, COMMUNITY POOL, SOCCER FEILD AND WALIKING DISTANCE TO SCHOOLS.

List Price: $220,000

Visit our Website: www.mcallenhomeforsale.com