Don Burns Team- Houston Real Estate

PRICE REDUCED! PRICE REDUCED from $299,950 to $219,950 for Hidden Creek! Call us now! (281) 734-8715 Quality living from the team that cares- Don Burns Team Hidden Creek Description DON BURNS TEAM- REAL ESTATE as one of the TOP 500 Top Producing Teams/Individuals in Texas CDPE, CRS, ePRO® www.donburns.com http://www.har.com/donburns don@donburns.com (281) 491-6274 (281) 734-8715 Houston, Texas Sugarland, Texas Richmond, Texas Missouri City, Texas Katy,Texas

With a 2,000+ mile long winter storm affecting much of the country, there are plenty of home owners who wish they were better prepared.  Even when you live in warm climates, some of these things are important to check periodically. Preparing for the change of seasons can make your home more comfortable and protect your investment.  Regular maintenance extends the various components of a home and can generate savings in operating costs while avoiding expensive replacements. Weather strips around doors and windows should be checked for possible air leaks. Caulking around windows and doors should seal out moisture and air leaks. HVAC should be inspected and serviced by a professional annually. Smoke and carbon monoxide detectors should be tested regularly. Ductwork and supply lines from water heaters should be insulated. Fireplace chimneys should be cleaned regularly and fireplaces should be inspected for cracks in mortar and to see if the damper closes pr

FHA insured mortgages serve a sector of the market that is not necessarily being met by other loan programs. Securing an 80% conventional mortgage that doesn’t require mortgage insurance may be the lowest cost of financing but if the buyer doesn’t have 20% down payment, it isn’t really an option. Securing a 100% VA loan doesn’t require a down payment or mortgage insurance but if the buyer isn’t a veteran with his/her eligibility intact, it isn’t an option either. There are conventional loan programs with as little as 3% down payment but they not only require mortgage insurance, they also require a credit score of 740 or above which may eliminate some buyers. For these reasons, FHA is a viable alternative to about 20% of new and existing home sales. The Federal backing of these mortgages makes it easier for first-time and low-income buyers to qualify because the requirements are not as demanding. They’re even more lenient towards buyers who have previously experienced bankruptcy,

Most school children would probably say that Thanksgiving dates back to the Pilgrims at Plymouth as early as 1621. By the late 1660’s, it had become traditional to hold a harvest festival in New England. President George Washington declared the first nation-wide thanksgiving in 1789 “as a day of public thanksgiving and prayer to be observed by acknowledging with grateful hearts the many and signal favours of Almighty God.” One hundred fifty years ago during the Civil War, in October, 1863, President Abraham Lincoln proclaimed the first national day of Thanksgiving. William Seward, Lincoln’s secretary of state, drafted the proclamation: “No human counsel hath devised nor hath any mortal hand worked out these great things. They are the gracious gifts of the Most High God…they should be solemnly, reverently and gratefully acknowledged as with one heart and one voice by the whole American People.” Even though the country was in the middle of the costly Civil War, the people of America

In 2007, Congress passed an energy act that required new energy-efficient standards for basic light bulbs. Standard incandescent bulbs are being phased out and eventually will be unavailable. The alternative bulbs differ considerably in price. LED bulbs are the most efficient but they also cost the most. CFLs are a less expensive alternative.   Interestingly, the more expensive replacements offer lower operating costs and longer economic life. One approach will be to inventory the different types and quantities of light bulbs you need in your home. Then, research either online or a big box store to find out what each type of bulb costs. This information will give you a total budget for converting your lighting. It could be a significant expense to replace all the bulbs in a home at one time, especially when most of the bulbs still work. That’s where a plan might make sense.  Replace the bulbs in the rooms where the lights are used the most such as kitchen, family rooms and bat

The Winter Home Buyer Report conducted in the second week of November by REALTOR.com ®  revealed the sentiments of current home buyers expecting to buy a house during the winter months.  It appears that there is pent-up demand with buyers who were unable to purchase a home recently. Most cited as an impediment to purchase was the challenge of low inventory.  Strong demand coupled with short supply explains why home prices have been increasing. "This summer and spring home buying season was particularly challenging for buyers, especially first-time home buyers trying to compete with all-cash offers and bidding wars because of reduced inventory.  In fact, a quarter of the winter home buyers revealed they are in the market now because they were unable to find a home during this last home buying season," said Alison Schwartz, vice president of corporate communications at REALTOR.com ® .  "While buyers are still experiencing challenges with inventory and approximately on

Most people are familiar with the various reasons a homeowner refinances their home which generally result in two major benefits: saving interest and building equity.  There is however another reason to refinance which may not be as common which is to remove a person from the loan. In the case of a divorce, when one party wants to keep the home and the other party wants their equity out of the home, it is possible for the remaining party to refinance the home. If the equity is sufficient to justify it and the remaining owner can qualify for the new loan, the refinance can provide the proceeds to buy out the other spouse. Refinancing to remove a person from the loan could also involve a situation where two or more heirs jointly own a property and have differing opinions on when to sell. The same situation could apply to a rental property with multiple owners and the refinance would provide a way to buy out a partner. Sometimes, it’s not about taking cash out of the home to buy out th

The last thing you want if you’re traveling these holidays is to worry about someone burglarizing your home. Use this check list to add some peace of mind while you’re out of town. Ask a trusted friend - to pick up mail, newspaper and keep yard picked up to avoid an appearance of being empty. Consider discontinuing your mail ( USPS Hold Mail Service ) Don’t post about your trip on Facebook and other social media until you return – some burglars actually look for this type of announcement to schedule their activities. Do notify police or neighborhood watch – especially if you’re going to be gone for more than just a few days. Let your monitoring service know when you’ll be gone and if someone will be checking on your home for you. Light timers make it look like someone is home – use several sets for different times to better simulate someone being at home. Do unplug certain appliances – TV, computers, toaster ovens that use electricity even when they’re off and to protect them

The division of assets between the spouses is an important decision to finalize a divorce.  The exercise looks relatively simple: assign a value for each of the assets and divide them based on a mutual agreement between the parties. The challenge is to make a fair division which requires an analysis to determine their value after they’re converted to cash. Assume the two major assets in the example, a retirement account and the equity in the home, are equal at $100,000.  It might seem logical to give the home to one spouse and the retirement account to the other.  However, if the person receiving the home decides to sell the home, the net proceeds could be considerably less than the spouse receiving the retirement account. Let’s pretend that the spouse with the home negotiates a lower price of $475,000 due to current market conditions.  The former couple had owned the home for many years and refinanced several times, pulling money out of the home each time.  When the remaining spous

Homeowners should recognize that the same trusted professional who helped them buy or sell their home can be a valuable resource while they own their home too. Think of your REALTOR® as an indispensable homeowner’s resource who can make recommendations about a variety of services that homeowners will use throughout the tenure in their home. This experience far exceeds personal experience because of the day-to-day activities working in the industry. To recommend reputable and reasonable service providers. To offer information about your community, nearby businesses and local agencies. To solicit general homeowner knowledge such as protesting your property tax assessment, determining fair market value, determining the best improvements and other things. To assist with advice and suggestions about maintenance, protecting value and saving money. Our goal is to have a long-term relationship with you. We want to help you be a better homeowner not only when you need to buy or sell b

Affordability and stability are reasons homebuyers choose a 30-year fixed rate mortgage. It makes the payment lower than a 15-year mortgage and the principal and interest portion of the payment will be constant for 30 years. A common belief among homeowners for decades was that they would always have mortgage payment. The Great Recession has caused many individuals to rethink that concept and make plans to get their home paid for sooner. For people who can afford it, shorter term mortgages will provide a lower interest rate and build equity faster. A 3.09% 15-year fixed-rate mortgage compared to a 3.87% 30-year loan will have a $562.42 higher payment. The equity would be $66,903.04 greater on the 15-year term at the end of seven years. Even after you consider the higher payment on the shorter term, the equity difference is still almost $20,000 greater. By choosing a 15-year loan, a borrower is committing to the higher payment for the term of the mortgage in exchange for a slig

Would someone really refinance their home and not take money out of it? Certainly, if they could get a lower rate, build equity faster and pay off the home sooner. For people with extra cash available, this can be very attractive compared to the low savings rates being paid by banks. In the example below, the current mortgage is 5% for 30 years after 48 payments of $1,342.05. The owner can refinance for 15 years at 3.37%. If they put $36,000 into the refinance, their payments will be slightly more but the mortgage will be paid off in 15 years. At that same point, if they keep the current mortgage, their unpaid balance will be $136,049.03. If you have a goal to get your home paid off and have the available funds, a Cash-In Refinance may be just the strategy for you. DON BURNS TEAM- REAL ESTATE as one of the TOP 500 Top Producing Teams/Individuals in Texas CDPE, CRS, ePRO® www.donburns.com http://www.har.com/donburns don@donburns.com (281) 491-6274

Insurance and homeowners go together like peanut butter and jelly. Lenders require fire insurance at a minimum for homes with a mortgage but many owners opt for a more comprehensive coverage with a homeowner’s policy. However, comprehensive doesn’t mean that everything is covered. Filing a claim is not the time to learn that you don’t have the right coverage. Discuss the following issues with your insurance agent to get a better understanding of your policy and whether some adjustments might be in order. Flooding? Rising water?  Mold? Earthquakes? Pools? Termites? Certain kinds of pets or breeds of dogs? Limits on jewelry and cash? Deductible amount? The whole concept behind buying insurance is to transfer the risk of loss that you cannot afford for an annual premium that you can. Price and coverage need to be considered when comparing policies. Call your agent and make sure you understand what you’re insured for and if there are alternatives available. DON BURN