Monday, November 30, 2015

Are Keller homeowners paying too much for home loans?



Adjustable-rate mortgages (ARM's) are considered a risk for many prospective homeowners in Keller and throughout the country. However, the fear of these ARM's may be dated. The following article includes quotes from experts of the industry:

Rising home prices and higher mortgage rates are adding up to increasingly expensive housing, but fear is making matters even worse.
A wide swath of borrowers today may be paying far too much on their home loans, simply because they are overly cautious.
"It's personality. Some people are just risk averse, but how much is your risk aversion worth?" asked Craig Strent, CEO of Maryland-based Apex Home Loans, an independent mortgage lender.
More than 93 percent of mortgage applications to both refinance and to purchase a home are for fixed-rate loans, according to the Mortgage Bankers Association. Adjustable-rate mortgages (ARMs), which may be fixed for up to 10 years before the interest rate changes, can offer rates at least a full percentage point lower, but they are less popular today than they've ever been.
That is because ARMs are associated with the high-risk lending that resulted in the worst housing crash in U.S. history. In 2005, close to 40 percent of new loans were ARMs.
"I think it's just fear and the nightmare, I mean, you remember the exploding subprime adjustable-rate mortgage," said Mark Zandi, chief economist at Moody's Analytics. "That was at top of mind just a few years ago, and so it's going to take a while before people really get over their fear and buy into the idea that an ARM might be a good deal for them."
Today's adjustable-rate loans are nothing like those of the past. They are largely underwritten to the full term of the loan and subject to new mortgage regulations from the Consumer Financial Protection Bureau and its "ability to repay" rule. Most ARMs now combine interest and principal payments, but some lenders do offer interest-only ARMs. These, however, are held on lenders' books and are most often used by high net worth customers, who are using mortgages for investment and cash management purposes, not to qualify for a more expensive house.
ARMs have also been less popular simply because the average rate on the 30-year fixed has been so low for so long. The spread between a 30-year fixed and a five- or seven-year ARM is usually more than twice what it is now. That has made the risk of an ARM less worth it, so far, but that is about to change.
"ARMs are more attractive when 30-year interest rates increase," said Matt Weaver, vice-president at Finance of America Mortgage, a Blackstone company. "Right now we're in a very funny time. Jumbo mortgage rates and 30-year fixed are the same."
The Federal Reserve may raise long-term interest rates as soon as December, which will cause spreads between these types of loans to widen. Weaver warns, however, that education is paramount for borrowers considering an adjustable-rate loan.
"Someone who is going to be purchasing that $250-$300,000 home is probably not in a cash reserve position to take that risk. They're more than likely squeezing themselves into that payment to begin with," he said.
Some claim the best way to determine if an adjustable-rate loans will benefit you is to take real stock of how long you expect to be in your home. If it's more than 10 years, then a longer-term, fixed rate is still the best bet. If, however, you are considering a starter home, or you are not wed to your particular neighborhood, an ARM will save you money. While most buyers don't think of a home as a short-term purchase when they buy it, the average homeowner stays in their home only about six years.
"It's not about the house at all. That's a fallacy. It's about how long you're going to keep this mortgage," said Apex's Strent.
Interest rates are still near historic lows right now, and are only slowly rising, but borrowers will still refinance for several reasons: To take cash out for home improvements or to pay for college, to get rid of mortgage insurance, to consolidate debt, or in the event of a divorce buyout.
Of the 30-year fixed loans made between 1980 and 1985, barely 2 percent made it to their eventual payout, according to Black Knight Financial Services. More made it past 19 years, but certainly not 93 percent of those loans — which is the share now applying for the 30-year fixed.
ARMs are not for everyone, but in today's rising rate environment, given that the rate can be fixed for a decade, they are most definitely being underutilized. Borrowers are right to be cautious, but not so cautious that it costs them cash. 
Chris Rudolph
Secondary Manager

This is useful information for people considering home ownership as well as current homeowners. Visit groveteam.com for more tips and information.


Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership

Friday, November 27, 2015

1181 Durango Springs Drive Fort Worth, TX 76052

Property Tour: http://tour.circlepix.com/home/RXRSFV
Introducing charm and charisma! Classic elegance is yours in this impeccably maintained one story, Bailee home in Spring Ranch. 4 bed, 2.1 bath features open design with stunning wood floors, island kitchen, granite surfaces and stainless appliances. Escape to the private master retreat complete with spa-like bath. Enjoy the amazing back yard oasis boasting kitchen,pool with swim-up bar, spa and fireplace. Gameroom and large secondary bedrooms complete this package.
Bedrooms: 4
Bathrooms: 2.00
Square feet: 2,989
Price: $479,000

For more information about this property, please contact Diane M. Grove at 817-337-0000 or info@groveteam.com. You can also text 3203733 to 67299.


See more listings at: http://www.groveteam.com


MLS ID: 13280768

Tuesday, November 24, 2015

Winterize your wallet: 4 winter maintenance projects for your Keller home



Cooler temperatures signal it’s time to switch gears and adjust your Keller home to the winter conditions. A few modifications can go a long way — here are four key projects to winterize your abode, help you stay warm and save money this season and beyond.

1. Stop letting money slip through the cracks
An easy way to winterize and keep heat in is to find drafts and seal them. In fact, drafts can waste five to 30 percent of a home’s energy usage according to the U.S. Department of Energy says. Keep drafts at bay by simply placing a rolled bath towel under doors and seal gaps in windows with caulk, or apply weather stripping or window winterizing film to keep the warm air from escaping.

Can’t find the drafts? Simply run your finger around edges of windows and doors to feel where air is leaking; or use a flashlight to see where light passes through.

2. Save water year-round
The kitchen is one of the hardest working areas in the house, and installing a low-flow faucet can help cut back on your water bills. Choose an option with a pulldown spray wand, like the Kendall kitchen faucet from Moen, that helps conserve water as well as make tasks in and around the sink easier. The spray wand features Reflex technology, which allows for easy and secure docking of the wand.

3. Get smart with heating
You may think your old thermostat is doing just fine, but the truth is a new one can save you up to 12 percent on heating and 15 percent on cooling, according to statistics. Modern thermostats provide a new-age way to conserve resources through its ability to learn your schedule and teach you how to save through notifications. In turn, it’ll save you money, since you’ll be heating and cooling your home only when necessary.

4. Water heater cool down
The furnace isn’t the only place to save by turning down the temperature. Many water heaters are set to 140 degrees, which can actually be dangerous and cause scalding. Simply lowering the temperature 20 degrees can save you $36 to $61 annually, according to the U.S. Department of Energy. This will also slow mineral buildup and corrosion in the water heater and pipes, saving significant money in the long run by preserving the life of your unit.

Completing these maintenance projects will not only adjust your Keller home to the winter conditions, but make your wallet happy.


Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership

Friday, November 20, 2015

4 DIY tips to refresh your Keller home for the holidays



With the holidays right around the corner, Keller homeowners are getting ready to host parties, dinners and more. Could your home’s interior use a refresh before the guests arrive, but you haven’t settled on the right idea? The key is to select one or two-day projects that will make a lasting impact, like dramatic trim and high impact paint choices.

Here are four ways you can liven up your home just in time to share it with friends and family.

1. Add wood to your walls. Whether for a dining room, entryway or bedroom, adding wainscoting or a wood feature wall can dramatically change the look of the room by adding dimension, often making smaller spaces feel a bit bigger. Different types of interior wood finishes reflect different styles. For example, leaving wood paneling unfinished can create the ambiance of a coastal beach house, while a transparent stain is a more polished way to let the natural beauty of the wood grain shine through. The contrast of wood finishes with an adjacent wall in striking paint colors can modernize a room in no time flat.

With so many design choices out there, you’re sure to find a style that reflects your home and personality. Pinterest is a great inspiration source for adding finishing touches to your walls.
 
2. Update a key piece of furniture. Breathe new life into a room by updating the color of existing furniture. To start, pick a key piece of furniture that is a focal point of your room, such as a dinner buffet or hutch. Apply a paint color that enhances the room’s interior, or introduce a bold color and accent it with new complementary accessories.

A little pop of color on a key piece of furniture can make neutral rooms feel personalized and welcoming.

3. Install upscale finishing touches. You can dramatically alter the look of any room by adding crown molding or trim. By placing crown molding — a decorative trim that bridges the gap between walls and ceilings — in a prominent visual location, your room will have just the architectural accent it needs to shine for the holidays.

The hardest part of the project will be deciding which room you’ll use for the project. After installing your molding or trim, you can make these details pop even more by choosing a complementary paint color for the ceiling and walls using the Olympic Paint Visualizer.

4. Refresh your entryway. Painting your front door is one of the easiest home improvements to do this holiday season. With your painting materials already prepped for inside projects, it’s a no brainer to spruce up the first thing people see when they enter your home — your front door. Applying a fresh coat of paint to your Keller home’s entrance is not only a key part of home maintenance, it also adds curb appeal to your home.

Color options include a classic look with a stately black, gray or navy. Or, you can try a fun and colorful look by using trendy colors like bright green, aqua or orange.

Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership

Sunday, November 15, 2015

7924 Glenview Drive Richland Hills, TX 76180

Property Tour: http://tour.circlepix.com/home/N2XQB4
A great investment for the right person with the right ideas. Create an opportunity at this terrific location for a retail business surrounded by small and major businesses. 0.214 Acre lot right off 121.
Price: $42,000

For more information about this property, please contact Diane M. Grove at 817-337-0000 or info@groveteam.com. You can also text 3186014 to 67299.


See more listings at: http://www.groveteam.com


MLS ID: 13265916

Friday, November 13, 2015

611 Jamboree Way Euless, TX 76039

Property Tour: http://tour.circlepix.com/home/AMCYW8
The perfect fit! This cozy 2 bedroom Townhome in CGISD is close to DFW Airport plus all major highways! Open floor plan boasts high ceilings and plenty of natural light. 2 large bedrooms with X-tra living space upstairs can be used as a study or 2nd living area. Spacious kitchen opens to family room with fireplace.HOA takes care of the front landscaping and entrance.Gated community for privacy and security. Covered patio and pool complete this package!
Bedrooms: 2
Bathrooms: 2.00
Square feet: 1,448
Price: $195,000

For more information about this property, please contact Diane M. Grove at 817-337-0000 or info@groveteam.com. You can also text 3182221 to 67299.


See more listings at: http://www.groveteam.com


MLS ID: 13274253

Monday, November 9, 2015

6 easy holiday decor ideas for Keller homeowners



Whether you’re planning an extravagant party or simply hosting a few family members, the stress of the holiday season can easily become overwhelming. With your busy schedule and full to-do list, the key to successful entertaining is to keep it simple.

If you’re like most people, you’re probably breaking out your traditional holiday decorations — but why not take it up a notch this year? Here are some easy ideas to instantly rejuvenate your Keller home, wow your guests and create a welcoming environment:

Restyle your shelves
If the shelves in your living or dining room are full of books and baskets the rest of the year, take a moment to declutter. Stash those everyday items away and replace them with elegant holiday décor like pretty dishes, serving pieces or china you’re not already using on the dinner table. You can also sneak in pops of color with ornaments and sprigs of pine.

Wow your guests with new window treatments
Dressing up your windows is an easy way to give a room a fresh look, just in time for company to arrive. Consider motorized window coverings for comfort and convenience, as well as energy savings. Your holiday budget will appreciate it year after year. Combined with timers and sensors, your draperies and blinds will adjust automatically, while you enjoy your company. With the myLink(tm) app from Somfy, you can use your tablet or smartphone to control your window treatments while at home or away. Create the perfect sunrise or sunset scenery with a built in clock that adjusts daily, optimizing the natural light in your home

Create a cheerful greeting display
Don’t just stuff all those holiday cards in a drawer or basket — show off your favorites in a festive way. Weave a colorful ribbon along the banister of your staircase or a blank wall and use clips or clothespins to string them throughout. When guests come over, they’ll love seeing themselves featured in your display.

Balance your color palette
While bright red and green tend to be the favored holiday hues, this color scheme isn’t for everyone. If you find yourself shying away from these colors, opt for metallic tones like silver, gold and bronze. These shades bring warmth and cheer to a room without taking away from your existing décor.

Dazzle with lights
Less is more when it comes to sophisticated holiday lights. If you tend to have more guests to your home during the holidays, it’s important to keep your walkways and paths brightly lit, especially if you’re in an icy climate. Spread a few strands of lights along the shrubs or smaller trees that line the path up to your front door to guide your guests safely into your home.

Bring warmth with a fancy fireplace
A fireplace is the finishing touch to a cozy winter living room scene. Not only does it add warmth, it also creates an alluring and inviting environment. An insert fireplace is a great addition to your home, whether you want to build new or replace your current fireplace for a more energy efficient option.

Dress your Keller home to impress this holiday season. These décor tips will have your guests in awe the moment they walk through the door.

Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership.

Wednesday, November 4, 2015

412 Fleming Drive Hurst, TX 76053

Property Tour: http://tour.circlepix.com/home/SB24E9
Great Beginnings! 3 bed, 1.5 bath, one story home tucked away in a quiet, established neighborhood in H.E.B ISD close to to restaurants, shopping, highways and DFW airport. This freshly painted home features open floor plan with spacious family room, galley kitchen, large dining area and separate utility room. Retreat to the master offering his and her closets and private half bath. Large, private yard with pergola and storage shed complete this package.
Bedrooms: 3
Bathrooms: 1.00
Square feet: 1,345
Price: $115,000

For more information about this property, please contact Diane M. Grove at 817-337-0000 or info@groveteam.com. You can also text 3157849 to 67299.


See more listings at: http://www.groveteam.com


MLS ID: 13266387

Sunday, November 1, 2015

156 College Street S Keller, TX 76248

Property Tour: http://tour.circlepix.com/home/VQ6FEM
Something special in the heart of Keller!! 3 bedroom, 2 bath, well cared for one-story home with large living room open to dining area and kitchen. Retreat to the private master featuring walk-in, jetted tub, separate shower and dual sinks. Large secondary bedrooms. Walk to Bear Creek Park with beautiful walking and biking trails, playground and duck pond. Just minutes from Keller ISD schools, The Keller Pointe, Town Center and Old Town Keller.
Bedrooms: 3
Bathrooms: 2.00
Square feet: 1,579
Price: $169,900

For more information about this property, please contact Diane M. Grove at 817-337-0000 or info@groveteam.com. You can also text 3157894 to 67299.


See more listings at: http://www.groveteam.com


MLS ID: 13266518