Debbie Garza - EXP Realty, LLC

09/22/2022

Let me help you navigate the buying process. I will be with you every step of the way.

08/02/2022

NEW TEXAS LAW FOR HOMEOWNERS AND HOA’S BEGINNING SEPTEMBER 1, 2022:
• Senate Bill 1588:
• Homeowners anywhere in Texas will be allowed to put up a perimeter fence around their property for added security (front, sides, and/or back of homeowner’s property). The law specifically states that homeowners associations (HOA’s) cannot restrict it (i.e: New fence/gate around homeowner’s front yard/driveway). Homeowners associations are allowed to enforce covenants which mandate the type of fence material that must be used. If required by the HOA, homeowners must obtain prior approval for the material of any new fence being built, but not the fence itself. Replacement of established fences (i.e: backyard fences) with existing material, do not need prior approval.
• Homeowners are allowed to install a perimeter fence around their pool, as well as security cameras and motion sensors on their property without prior approval. HOA’s are allowed to enforce covenants which prohibit homeowners from installing security measures outside of the homeowner’s property.
• HOA’s are prohibited from restricting homeowners who display religious items on their property. HOA’s may only enforce covenants which prohibit religious items that violate a law, contain graphic language, pose a threat to public health/safety, or are offensive to the public (other than its religious content).
• Resale certificate fees are now capped at $375 and updated resale certificate fees at $75. Deadline for HOA to deliver such certificate is now 5 days as opposed to 7. Homeowners are now permitted to seek a judgement against HOA for no more than $5,000 for failure to deliver certificate in a timely manner.
• If your HOA board makes a budget amendment, they must do it now at an open public meeting.
• Any HOA must obtain bids before awarding any contract more than $50,000.
• The bill prohibits a person from serving on an architectural review committee (“ACC”) if the person is: 1) a current board member; 2) a current board member’s spouse; or 3) a person residing in a current board member’s household.
• If you are late paying your HOA dues, your HOA can still report you to a credit reporting agency but they can’t charge you the fee to do that. You now have 45 days instead of 30 days to cure a delinquency. HOA must now send homeowner requisite enforcement action “209” notice prior to reporting to credit agency.
Bill has been passed and goes into effect on September 1, 2022.
https://capitol.texas.gov/.../87R/analysis/html/SB01588I.htm

07/18/2022

07/18/2022

Your dream home awaits. Stay cool every summer in the beautiful pool!

Special find, this one-story 3 bedroom 2 bath home sits o...

06/16/2021

8 MISTAKES FIRST TIME HOME BUYERS MAKE

First-time homebuyers can easily make mistakes out of ignorance or misinformation. Here are eight mistakes they should learn to avoid.

1. Not checking their credit report. People don’t realize their credit score is one of the most important factors in getting approved for a mortgage—and determining the rate they’ll pay. First-time buyers should first check their credit report. Federal law lets consumers get a FREE copy of their credit report every 12 months from each of the three credit bureaus. Buyers just need to visit AnnualCreditReport.com and follow the simple instructions. If they stagger requests to each credit bureau, they’ll get a free report every four months.
2. Not determining a budget. One way to set a budget is for buyers to calculate their entire expenses-to-income ratio—all monthly expenses divided by their gross monthly income—to figure out what they can afford.
3. Not figuring all homeownership costs into their budget. First-timers may not realize that in addition to principal and interest mortgage payments, there are also real estate taxes, homeowner’s insurance, and possibly homeowner association fees, that can be part of their monthly payment. Utility bills may also be higher than they had as renters, and they should budget for ongoing maintenance and repairs too.
4. Neglecting to get a mortgage pre-approval letter. This gives buyers a clear idea of how much they can borrow. As you know, many sellers are requiring a pre-approval letter to accompany an offer.
5. Failing to investigate payment loan options. Buyers do not always need a large down payment. There are many different down payment options based on the loan program they choose. We’re happy to review their individual circumstances and help your first-time buyers find the right down payment option for them.
6. Applying for a loan or credit card after pre-approval. First-timers are usually unaware their mortgage approval is based on their debt-to-income ratio. Borrowing money after they’ve been approved raises this ratio. Applying for a loan or a credit card could also lower their credit score. Doing either of these things before closing risks not getting the mortgage, they were pre-approved for, or making the approved loan more expensive.
7. Leaving no funds in reserve. First-time buyers can deplete a lot of their cash resources. They should note that in addition to the down payment and closing costs, there are moving expenses, as well as possible furniture purchases and other ownership costs. Buyers need to have enough extra cash set aside to cover emergency repairs and other unexpected home expenses.
8. Making emotional decisions. Since a home is an investment, first-timers need to make sure the property they buy is a good, practical long-term value, as well as a wonderful place to live.