US hiring surge raises likelihood of Fed rate hike - The Killeen Daily Herald: Nation

US hiring surge raises likelihood of Fed rate hike - The Killeen Daily Herald: Nation

Gorgeous Home In Harker Heights in a desirable neighborhood.

EXIT e-Listings Tour# Chinaberry



$203,950 -  3 bedrooms, 2 baths

Where Are Prices Headed in the Next 5 Years? Real Estate Killeen, TX

Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.

Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100 experts into a single number. 

The results of their latest survey

Home values will appreciate by 4.3% in 2015.

The cumulative appreciation will be 19.4% by 2019.

That means the average annual appreciation will be 3.6% over the next 5 years.

Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 11.8% by 2019.

Individual opinions make headlines. We believe the survey is a fairer depiction of future values.

To Search for homes within the Killeen, Harker Heights, Copperas Cove and the Greater Fort Hood area, visit: www.PremierCentralTexasHomes.com

Real Estate Home Sales Data (February 2015) - Killeen, Texas

Real Estate - Killeen, Texas:  Home price up slightly in February 2015 when compared to the same time period in 2014.  Median home price within the Killeen, Harker Heights, Copperas Cove, and the Greater Fort Hood area ended at $125,000 which is higher than the $124,000 median price in February of 2014.  Information provide by Exit Homevets Realty - you can find more stats online at: www.exithomevets.net 

Where Are Mortgage Rates Headed? Harker Heights, Killeen, Texas Real Estate.

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to look at where rates are headed when deciding to buy now or wait until next year.

Below is a chart created using Freddie Mac’s February 2015 U.S. Economic & Housing Marketing Outlook. As you can see interest rates are projected to increase steadily over the course of 2015.

How Will This Impact Your Mortgage Payment?

Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.

Research released by Zillow touched on this point:

“As rates rise, new home buyers will confront higher financing costs and monthly mortgage payments. For many, this will mean tightening their budgets and sacrificing some luxuries they may take for granted today.”

The experts predict that home prices will appreciate by 4.4% over the course of 2015. If both predictions become reality, families would wind up paying considerably more for their home.

Bottom Line

Even a small increase in interest rate can impact your family’s wealth. Meet with a local real estate professional to evaluate your ability to purchase your dream home.

Search for homes at: www.PremeirCentralTexasHomes.com 

Median Home Prices Inch Up in January - Killeen, Greater Fort Hood Area

The median home price within the Killeen and the Greater Fort Hood area ended at $1250,000 for the month of January 2015.  This is up .08% from the same time a year ago in January 2014 when the median home price was at $124,900.  The data is for single family home with less than an acre and include the Killeen, Harker Heights, Copperasras Cove, Nolanville, Kempner and surrounding areas of the Fort Hood Association of REALTORS. View more at: www.RealtySalesData.com

Information provided by: Exit Homevets Realty - Serving the real estate needs of our soldiers and our great community.

Thinking of Buying Real Estate? Time is Now!

If you are planning on becoming a homeowner, or moving up to the home of your dreams in 2015, here are four great reasons to consider buying a home now, instead of waiting until spring.

1. Prices Will Continue to Rise

The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 11.7% (most pessimistic) and 27.5% (most optimistic).

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by the end of 2015.

An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

3. Either Way You are Paying a Mortgage

As a paper from the Joint Center for Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But, what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

To search for homes in the Killeen, Harker Heights, Copperas Cove and all the Greater Fort Hood area in Central Texas, visit Exit Homevets Realty at:  www.PremierCentralTexasHomes.com 

10 Hidden Hazards When Buying Foreclosures

Buying a foreclosed home can seem like a dream. What could be better than getting a home for a fraction of the market value? Some may even say that the deals sound like they could be too good to be true. In some cases, those doubters aren't too far off the mark. There are some hidden dangers in buying foreclosure properties that, if you're not aware of them, could be disheartening and disappointing. If you are pursuing this route in buying your new home, be sure to look out for these hazards and hidden costs.

1. Destruction of Property – A sad truth about foreclosure properties is that they have often been purposely destroyed. Sometimes the homeowners do this out of frustration over losing their homes, or out of simple carelessness when they realize their home is irretrievably gone after too many missed mortgage payments. If the homeowners have not destroyed the property themselves, there is also a chance that the home has been vandalized by other people because it has been left sitting empty.
2. Poor Maintenance – If homeowners were unable to afford their mortgage payment, they almost certainly were unable to perform routine maintenance on the property. Problems can be as minor as a few leaky faucets, or as major as damaged roofing or central units.
3. It May Be Unclean – A house being left unoccupied for a significant amount of time can mean it will be unclean, either through neglect on the part of the former owners or normal depreciation as the property is left uninhabited and not looked after. When a homeowner is selling the home, they will scrub the house clean or hire a cleaning service to entice buyers. A foreclosed home will not have this benefit. Depending on how long it was left and what condition it is in, there may even be vermin or termites to deal with.
4. Undesirable Renovations – Sometimes homeowners were in the middle of a renovation when they lost their ability to pay their mortgage, so you can wind up with a half finished project on your hands when you purchase the property. There is also a chance that a garage or basement was turned into a living space to rent out in order to try and offset the cost of the mortgage.
5. No Electricity – There is a good chance the electricity will be off in the foreclosed home, so you will have a hard time seeing what you are buying. Depending on the weather it may also be very hot or very cold in the house, and vacancy can take its toll on appliances left behind.
6. Personal Property Left Behind – Many homeowners leave items behind, either because they now have no place to put them or because they were locked out of the house before they could retrieve them. You will now be left with the job of disposing of these items if you decide to purchase the property.
7. Lack of Landscaping – More than likely, nobody has been maintaining the lawn of a foreclosed home. You may have a yard full of dead grass or a lawn so overgrown it seems like a jungle! Your foreclosed home will almost certainly require some degree of upkeep when it comes to to the landscaping surrounding the structure.
8. No Disclosure – Because the owner of the property is a bank and the bank has not actually lived in the house, they have no idea what problems or issues there may be in the home and they have no obligation to tell you even if they did. You will have to get your own home inspection done to uncover potential issues.
9. Stripped Bare – You may find your new foreclosed home completely stripped of appliances, copper piping, and anything else that might be worth money. Many times the previous owners do this to try and make back some money on their lost home. Other times, the home was broken into and robbed after the previous owners left.
10. Judgments and Liens – Foreclosure properties can sometimes come with titles encumbered by judgments or liens that you may have to pay off to close on the deal.

In short, buying a foreclosed property can be a great way to save money. However, be sure to look into all the potential costs involved before making a final decision. Do the math to determine if you will really wind up saving, or if the property will end up costing you when all is said and done.

To Search for home visit:  www.premiercentraltexashomes.com 

Real Estate home search within the Greater Fort Hood area's including, Killeen, Copperas Cove, Harker Heights, Belton, Temple, Salado, Kempner, Nolanville, Texas

Thinking About Buying or Selling Real Estate in Killeen, TX

Search hundreds of homes for sale within the Killeen, Harker Heights, Copperas Cove, Nolanville, Belton, Temple, Salado and all of the Greater Fort Hood surrounding area's.

Central Texas Homes For Sale

Either Way, You’re Paying a Mortgage

There are some people that have not purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either your mortgage or your landlord’s.

As a paper from the Joint Center for Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

Also, if you purchase with a 30-year fixed rate mortgage, your ‘housing expense’ is locked in over the thirty years for the most part. If you rent, the one guarantee you will have is that your rent will increase over that same thirty year time period.

As an owner, the mortgage payment is a ‘forced savings’ which will allow you to have equity in your home you can tap into later in your life. As a renter, you guarantee the landlord is the person with that equity.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, owning might make more sense than renting since home values and interest rates are still lower than projected.

To search for homes in the Killeen, Fort Hood and Central Texas areas visit our site at:

www.premiercentraltexashomes.com 

What you must know before buying real estate in Killeen, TX

The real estate market in Killeen, Texas and the Greater Fort Hood area is still somewhat of a buyer's market.  It still has one of the most affordable home prices in the nation and with the low interest rates,  It can also be one of the most profitable markets but only if you know and understand what you are getting into.  The following tip will teach you how to better prepare yourself when purchasing real estate in the Killeen, Harker Heights, Copperas Cove and all the Greater Fort Hood areas.

First thing is to know how long you want to live in the home.  If you are not going to live in the home but buying as an investment property, then you need to have an idea on how long you want to hold onto your property.  This market does have some great prices but you have to wait a few years on most properties in order to allow time for appreciation.  If you buy a home and live in it for only three years, then you may not have had enough appreciation in that time period to cover the costs of selling.  Understanding the market and how it moves and understanding what it costs to sell are two critical factors that you must understand in order for you to make a good investment in real estate in the Killeen, TX area.

One suggestion that you may want to consider when purchasing a property is doing a 15 year loan versus a 30 year loan.  Interest rates are still very low and when you do a 15 year loan you are building equity in you home much faster than a 30 year mortgage. The great thing about this is that you are not making double payments in order to cut you time in half.  Your payment is higher but not as high as you may think.  Have your mortgage lender give you a breakdown of the difference and if you qualify for a 15 year mortgage, then you may want to consider doing it, believe me, it will pay off in the long run.

Another thing you want to be aware of is the location of your home.  In real estate, areas are normally divided by price ranges.  There are areas that go for under $100k and then there are areas that homes sell for over $200 or $300k.  The big price spreads are obvious but sometime they are not so obvious and you may end up buying the most expensive home in a lower price area and then may have a hard time reselling it in the future.  So make sure you know the numbers for an area before hand so that you can be in a better position to sell in the future.

Jose Segarra is the Broker and Owner of Exit Homevets Realty and is consider one of the top expert advisors in real estate within Killeen and the Greater Fort Hood area.

To Search for Homes in Central Texas Click Here:

http://www.premiercentraltexashomes.com