Red Relief—Helping Those Impacted by Harvey and Irma

The Red Relief program by Keller Williams is dedicated to providing disaster relief to those impacted by Hurricane Harvey and Irma. Find out how you can help today.

Keller Williams is here to help those impacted by Hurricane Harvey and Hurricane Irma.

When it comes to Keller Williams, family is everything.

Our Red Relief program is dedicated to providing disaster relief to every family impacted by these storms.

Hundreds of Keller Williams agents have gone to Texas to help those in Corpus Christi, Houston, Beaumont, and more. More agents are on their way to help families in the path of Hurricane Irma in Florida.

"Help us provide disaster relief to those impacted by Irma and Harvey."

So far, we have seen a tremendous outpouring of love from our volunteers and donors. Rebuilding these areas is going to take more than a couple of weeks, so it’s important that we keep the energy going in the coming months as we help people get back to their normal lives.

As we work to rebuild these areas, we could use your help.

Please consider donating to our Red Relief program. Your contributions will help us supply food, water, clothing, and building supplies to these communities.

If you have any questions about KW Cares, the Red Relief program, and our ongoing disaster relief efforts, please don’t hesitate to reach out to us. We appreciate your support as we work to help others through this difficult time.

You Don’t Need a Down Payment

There are a lot of loan options out there with low down payment options. There are even some that don’t require a down payment at all.

What's the biggest obstacle to homeownership?

According to a recent survey, "saving enough for a down payment" comes at the top of the list. A whopping 55% of prospective homebuyers cited this as their main stumbling block.

And with the continuing growth of home prices, things aren't getting any easier. In fact, homeownership rates reached a 20-year low last November.

It wasn't always like this. 

A decade ago, many lenders were offering easy, no-money-down mortgages. 

However, after the financial crisis, mortgage standards have become more restrictive. A typical mortgage now requires a 20% down payment. 

"55% cited the lack of a down payment as their main stumbling block."

Here's the good news. 

If you have decent credit and a steady income, you might be qualified for a number of specialized programs that require no or very little down payment. Here are a few of the top options.

First, there's the USDA loan, which is valid for homes in certain regions, such as rural and suburban areas. 

With zero money down and lenient credit requirements, the USDA loan can be a great choice for many homeowners. 

Second, there’s the VA loan, which you can apply for if you or your spouse served in a branch of the military.

It's possibly the most generous zero-money-down mortgage because of low-interest rates and low closing costs.

Third, there's the FHA loan. It does require a 3.5% down payment — still drastically more achievable than the 20% required for a conventional mortgage. 

Finally, there are a number credit unions and first-time homebuyer programs that might apply to your particular situation.

There’s one important thing you should know.  

If you get one of these no-money-down mortgages, chances are good you will be required to pay private mortgage insurance, which can drive up your monthly payments.

Fortunately, private mortgage insurance will disappear after your mortgage balance is under 80%. Also, the money you do pay will be tax deductible in most cases.

In short, there are lots of options to make owning a home a reality for you, even if you haven't saved up tens of thousands of dollars.

If you need more advice on getting a no-money-down loan, give me a call. I can put you in touch with some experienced lenders who can answer your questions and help get you started.

The Perfect Storm for Home Sellers Is on the Horizon

This summer is shaping up to be the perfect storm for home sellers in our market. However, you need to act fast.

If you’ve been considering selling your home, now is the time to do it. This summer is shaping up to be one of the most favorable seasons in recent years to sell your home quickly and for top dollar. 

However, this moment won’t last forever. 

Mortgage rates are still very low. Right now, the 30-year mortgage rate has dipped to 3.9%, which is far from the 4.5% experts predicted for 2017. These continuing low mortgage rates translate into more affordable homes and eager buyers looking to lock in these low rates while they last. 

We’ve seen this eagerness in action lately. Demand is so strong that home sales actually increased in both April and May, despite the fact that the supply of homes on the market is currently at a seven-year low. As a result of strong demand and tight inventory, home prices reached a record high this May, rising 6% compared to May 2016. It was the 63rd straight month of year-over-year gains.

"If you’re thinking of selling your home, the time to do so is now."

What does this mean for you?

These conditions make it very easy for you to sell your home right away for a very favorable price, but they also point to a correction which might appear soon in our market. For example, the increase in sales numbers is likely to push up mortgage rates, making it less affordable for buyers to buy. The ongoing Federal Reserve rate hike might contribute to this as well. 

Furthermore, the continuing demand and high home prices will eventually spur construction of new homes. The record-high confidence levels reported recently the National Association of Homebuilders support this. All this new construction will certainly impact the growth of home prices, and might even drive them down. 

So, again, if you’re thinking of selling your home, the time to do so is now. 

If you have any questions about our current market or need help getting started on selling your home quickly and for top dollar, don’t hesitate to give me a call or send me an email. I’d be happy to help.