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FHA Policy Changes Coming Soon
The FHA recently announced policy changes on their lending guidelines.
These new policies are expected to go into effect this spring or early
summer with no specific date set yet. The most notable changes are
that the amount of seller contributions to buyers closing costs are being
reduced and upfront mortgage premiums are going up.
For more information please visit our
Home Loans and Mortgage Resources page of our website.
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Keller Williams Kingwood Concert Series
Mark your calendars for the Keller Williams free concert series at Kings
Harbor. The next concert is Friday, March 19th from 7-10pm!
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It's Officical! Home Buyer Tax Credit Extended!
Not only has the $8,000 home buyer tax credit been extended for first time
buyers, but it has expanded to offer up to a $6,500 tax credit for eligible
repeat buyers. Plus the income limits have been increased opening up
the program for more opportunities.
See more information about the
Home Buyer Tax Credit.
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A Home Inspection is Well Worth The Cost
Most people probably only think of one or two questions to ask a home
inspector: “How much is your fee?” and “When can you be there?” But these
only scratch the surface.
Here's a list of suggested questions you might ask:
- What types of licenses do you hold?
- What kind of training do you have?
- Do you belong to a professional inspectors' association?
- How long have you been licensed in Texas?
- Are you a full-time home inspector?
- How much do you charge?
- Do you also perform repairs? (If the answer is yes, that may
indicate a conflict of interest.)
- What will the inspection include? (Get specifics. It
should include the electrical, heating, and central air-conditioning
systems,; interior plumgin, visible insulation, roof, walls, ceiling,
floors, windows, doors, foundation, and visible structur of the house.)
- Do you inspect gase lines, swimming pools, spas, septic systems, and
wells? (You can identify othe ratypical systems or items.) Do you
charge extra for these?
- Do you charge based on the size of the home? Multiple AC units?
Other items?
- How much would you charge if I ask for a resinspection after repairs
are completed?
- Will you supply a written report? (The inspector should.)
- Can I attend the inspection? The home inspection is an
opportunity for you to leanr about your new home and ask
questions. If the inspector says no, find another inspector.)
- Do you go up on the roof to inspect it?
- How long will the inspection typically take? (Anything less than two
hours is not long enough for a thorough inspection.)
- Can I call you with questions that come up later?
- Can you give me names and phone numbers of three people for whom
you've inspected homes for recently?
The inspector may not inspect swimming pools, wells, septic tanks, and
other systems and items, and many inspectors will not conduct environmental
test or wood-destroying insect inspections. You will likely need to
arrange for these inspections separately.
You can find a blank copy of the standard inspector report form at
www.trec.state.tx.us to give you
an idea of what may or may not be covered in the inspection.
For distribution for Texas Realtors®. © 2004 by the
Texas Association of REALTORS®. All rights reserved
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