Single Family Home For Sale in Richmond,Texas

For Sale on this Luxurious and Captivating Home ready for you to move in.

DON BURNS TEAM- REAL ESTATE
as one of the TOP 500 Top Producing Teams/Individuals in Texas
CDPE, CRS, ePRO®
http://www.har.com/donburns
don@donburns.com
(281) 491-6274
(281) 734-8715

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Welcome to my Blogger Page! Don Burns Team in Greater Houston Area

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Over 43 years experience as a full-time Real Estate Professional Native Texas and resident of Fort Bend County and Sugar Land since 1974 Certified Residential Specialist Helped over 2500 families sell their homes and find their dream homes. Member of the National, Texas and Houston Associations of REALTORS RE/MAX International Hall of Fame member and Lifetime Achievement Award Winner RE/MAX Chairman's and Platinum Club Award Winner Top 5% of REALTORS in the United States Recognized by the Houston Business Journal in their Top 50 REALTOR teams in the Greater Houston area Active in the local community INTEGRITY! EXPERIENCE! SUCCESS! Help buyers buy new and formerly owned homes in Sugar Land and surrounding areas. Help sellers get their homes ready with our free staging. DON BURNS TEAM- REAL ESTATE CDPE, CRS, ePRO® www.donburns.com http://www.har.com/donburns don@donburns.com (281) 491-6274 Houston, Texas Sugarland, Texas Meta tags: houston...
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Gift of Equity

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There is a little-known mortgage program that could provide the vehicle for the right person to get into a home.  If a person sells their home to another for less than the fair market value, the difference in the appraised value and the sales price is considered a gift of equity for the buyer. FHA requires that borrowers receive gifts of equity only from family members transferring title to the borrower.  An appraisal is required to determine the value of the home.  The sales price is subtracted from the appraised value to determine the equity to be gifted.  If a home appraises for $300,000 when the owner will sell it for $250,000, the gift is $50,000. The gift is applied to the down payment.  In this example, the borrower would have to qualify for a $250,000 mortgage which would require private mortgage insurance because a 20% down payment on a $300,000 home would be $60,000.  If the buyer had an additional $10,000 in cash to put do...
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Investing on Your Side of the Fence

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The grass tends to look greener on the other side of the fence. Maybe that’s why some people invest in things they don’t understand. It has been said that the grass is just as hard to mow on the other side of the fence so stay with what your most familiar. Single-family homes used for rental property give a person a chance to invest in something they understand: a home. They also have distinct advantages over other types of investments. An investor can borrow up to 80% of the value at fixed interest rates 30 years. The financing creates leverage so that the investor can benefit from the increase in value of the home not just the down payment. It is reasonable to expect that the home will appreciate while providing tax advantages and practical control that are not available with many other investments. Low housing inventory in many markets has caused rents to increase and low new home growth will make it difficult to keep up with demand. Consider a $150,000 home purchased for c...
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