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By: Karen Karapasha

Sugar Land is considered to be one of the top areas to purchase a home near Houston, Texas. As a matter of fact, it is considered to be one of the top places in America to buy a home and raise a family.

When looking for a new home in Sugar Land, Texas, there are five premier neighborhoods to consider. These neighborhoods are among the most popular places to buy in Sugar Land.

Sienna Plantation is a development with new homes. Brushy Lake is an upscale enclave located within Sienna Plantation. Properties in Brushy Lake start at the $400,000 range and go up from there. It is a tranquil and beautiful neighborhood where splendor and luxury are a way of life.

Coral Drive is another popular Sugar Land neighborhood. A variety of floor plans are available to choose from. Home prices start in the low $300,000′s. It is also located just minutes from fine dining and shopping in downtown Houston and surrounding areas.

Aliana is located directly in front of two premiere golf courses, making it one of the most preferred places to purchase a new home. This area is a resort-style neighborhood. The homes in Aliana range from $275,000 to $400,000. This neighborhood is projected to have 6,000 homes when completed.

Telfair is another great option for Sugar Land buyers. The homes in Telfair are popular because they appear to have a southern style charm. This development will have 2,000 homes when it is completed and will host its own community pools, parks, and shopping. The home prices in Telfair begin at $200,000.

Greatwood is an established neighborhood that is still very popular with home purchasers. This development includes a golf course, swimming pools, parks, playgrounds, tennis courts, and walking trails for its residence. The homes range from $150,000 and go up from there.

There is good news in Katy, Texas!

The lack of supply of resale homes in the past months has brought an increase in value to existing homeowners. Living in Katy has become more desirable than ever before with commercial entities growing as well as many new home developments. Located near the energy corridor and with an award winning school district, the increase in growth has been phenomenal.

For those desiring the popular Cinco Ranch community, the development is still thriving and expanding, even after 16 years. Home prices range from the low $100′s to over a million dollars. Boasting a hometown feel and the advantages of being close to a bustling metropolitan city, homes for sale in Katy and Cinco Ranch are moving fast. In some cases multiple offers are setting new precedents, with an increase in property values for the sellers.

The amenities at Cinco Ranch include the beach club, water park, multiple pocket parks, lakes, basketball, tennis courts and naturally the Golf Course. With so many wonderful amenities and features, it is encouraging that this Katy development is affordable for families with a multitude of needs. The average price per square foot in the homes for sale in Cinco Ranch is approximately $87, and there are many home sizes available.

Buyers with school age children who make the choice to live in Cinco Ranch will gain in quality of education! Eleven schools currently serve the Cinco Ranch community. The acclaimed Katy Independent School District is well known for its dedication and commitment to student success. The University of Houston also has a Cinco Ranch campus for higher educational needs.

Cinco Ranch offers something for everyone. Even seniors 55 and over can find homes for sale in this desirable community. Cinco Ranch has thought of it all, building a neighborhood geared towards accommodating empty nesters, and those whose family dynamics has changed. Pleasing such a large and varied populace is a challenging task to take on, but Cinco Ranch has managed to do it with flair while remaining affordable.

Restaurants, entertainment, shopping, churches, businesses and cultural opportunities abound in this favorite Katy community. The variety of home prices makes Cinco Ranch a perfect choice for many homeowners. A beautiful community to live, work and play in, Cinco Ranch has it all!

Article Source: http://www.realestateinvestmentarticles.net

Karen Karapasha is a top Realtor and relocation specialist who assists home buyers and sellers in Houston, Texas. The Karapasha Team has ranked among the Top 25 Realtors in Houston since 2001. Visit www.karenkarapasha.com for homes in Katy and Houston or call Karen directly at 281-578-4000

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By: J. Goldstein

Reasoning Your Redo
Many home improvement projects begin with someone in the household saying, “Wouldn’t it be nice …?” What follows may be a wish for a remodeled kitchen or a room addition with space to accommodate every family member’s needs. However, reality usually intrudes upon this daydream: There’s only so much money and so much space. The trick is turning your dreams into reality. Start by evaluating your needs. Most homeowners consider home improvements for one of these reasons.

You need to update the out-of-date. If your kitchen still sports appliances and decor from decades past, now may be the time to make it current.
You need to replace fixtures or appliances. Sometimes a home improvement project grows out of an immediate need to replace broken or inefficient fixtures. If the sink, tub or toilet has to be replaced, many people take the opportunity to refurbish the entire bathroom.
You’re selling your home. You want to be sure you’ll get top dollar from the sale of your home, and that may be the rallying cry for some home improvement projects.
You’re staying put. You thought about moving, but now you realize that improving your present home is a better option.
Your family has grown and you need more space.
Improving to Move or Improving to Stay
You need to evaluate your plans carefully if you’re improving your home to put it on the market. Cutting corners could hurt rather than help your prospects, but you don’t want to go overboard either. Potential buyers may not want to pay for the extras you have included, such as a hot tub or pool. It’s best to keep changes simple.

Also keep in mind that people viewing your house may not share your tastes and therefore won’t necessarily appreciate the time and effort you put into finding just the right shade of green paint for the walls.

Improving to sell is easier if you mentally put yourself on the other side of the proverbial fence: What is important to the home buyer? Here’s a list of remodeling projects that buyers are likely to find valuable:

Adding or remodeling a bath
Improving the kitchen
Adding a new room
Landscaping
Adding a bedroom
Adding or enclosing a garage
If you’re remodeling in order to stay in your home, you still need to avoid over-improving it. You’ll probably sell someday, and even if your house is the best on the block, you may have a hard time convincing buyers to pay extra for the things you found so important. Keep the value of other homes in the area in mind whenever you consider improvements. Your home’s value should be no more than 20% above the average. That means a $10,000 kitchen improvement project might be a better idea than a $10,000 hot tub, especially if no other homes in your area have hot tubs.

Home Maintenance
Unfortunately, some home improvement projects get started because something is broken. A leaky plumbing fixture may be the first step to a major bath remodeling. After all, if the tub has to be replaced, why not do the whole room?

While that’s certainly one reason to remodel, you’ll generally want to avoid basing your home improvement projects on immediate need. Proper maintenance will help to minimize problems. Go over every part of your home at least once a year. Check out the roof, plumbing, electrical wiring, etc. As soon as you notice a problem, fix it. Early attention to repairs will help you avoid a larger expense later on. Remember maintenance does not add to the value of your home. Repairs, generally, are not improvements but necessities.

Hiring Help
Let’s face it, home projects can be expensive. You may be tempted to tackle them yourself as a way to save money. For small projects, that may be a smart move. You don’t have to wait for someone else to fit your house into their schedule, and you can take pride in doing the work yourself. Unless you’re particularly handy, however, large home improvement projects are better left to the pros. If you’re remodeling the kitchen, ask yourself if you can handle the plumbing, electrical and carpentry work. And don’t forget that you need to finish it all quickly, because in the meantime you’ll be without a kitchen and eating out can be costly. Keep in mind, do-it-yourself jobs generally take more time and you’re responsible for obtaining the necessary permits and inspections.

Hiring people who have experience can save you money and time, too. For example, these professionals can help you get a custom look using stock products, and that can be a significant savings. Getting something done right–the first time–will give you value that lasts for years.

Word-of-mouth is a good way to start looking for home improvement specialists. Check with friends, business associates and neighbors for recommendations. Always ask for at least three references – and check them out. Check, too, with your local chapter of the Better Business Bureau or Chamber of Commerce. You can find the number in the community services section of your telephone book. Make sure everyone is in agreement about design, schedule and budget. Get the details down in writing in a signed contract. You’d also be wise to check on professional certifications and licenses, where required, and insist that any contractors you hire are fully insured and bonded. Contact your town or city Building Department for information. In particular, make sure contractors carry workers’ compensation insurance so that if any workers are injured on the job, you won’t be held liable. Ask for a copy of their insurance certificates. Also make sure that you or the contractor secure any necessary permits before beginning the work. Contact your local Planning and Zoning Commission for information.

Here’s a quick overview of some of the pros you may work with in remodeling your home:

Architect: These professionals design homes or additions from the foundation to the roof. If you’re planning structural changes–adding or taking out walls, for example–or anticipate a complex design, you’ll probably want an architect. You may pay an hourly fee or a flat fee. Be sure to get an estimate of the total cost: It can take 80 hours or more to draw up plans for a major remodeling project.

Contractor: This person oversees the nuts-and-bolts aspects of your home improvement project, such as hiring and supervising workers, getting permits, making sure inspections are done as needed and providing insurance for work crews. You may wish to get proposals from one or more reputable contractors, based on specific details of your project. Be sure each contractor bids on exactly the same plan for comparison purposes. Once you’ve chosen a contractor, make sure your contract specifies that you will pay in several stages. It’s customary to pay one third when the contract is signed so that the contractor can buy supplies. The number and timing of other payments depends on the size of the job, but do not make final payment until all work is successfully completed, inspected and approved.

Interior Designers: These specialists offer advice on furnishings, wall coverings, colors, styles and more. They can help save you time (by narrowing down selections) and money (from the professional discounts they might receive). When meeting with an interior designer, be sure to talk about your personal style and preferences. Expect to pay anywhere from $50 to $150 per hour, or you may negotiate a flat fee of perhaps 25% of the total project cost.

Financing Repairs
Depending on the scope of your home improvement plans, finding funding may be a project itself. If the project is small, you may be able to save for it from your regular household budget. For larger projects, you’ll probably need to borrow money. If you participate in a 401(k) or 403(b) plan at work, you may be able to get a short-term loan from your account. To find out if this option is available to you and to learn about any tax implications, talk to your benefits administrator. Another possibility is borrowing against the cash value of your life insurance policy. If you’re interested in finding out more about this type of loan, talk to your life insurance agent.

To take out other types of home improvement loans, head to your local bank, savings and loan, or credit union. Compare interest rates, repayment options and penalties from lending institutions before deciding on one of the following options:

Second mortgage: This is a loan against the equity in your home. It is, in essence, an additional mortgage. Typically, financial institutions will let you borrow up to 80 percent of the appraised value of your home, minus the balance on your original mortgage. For example, if your home is appraised at $100,000 and your current mortgage balance is $70,000, you may be able to borrow $10,000 by way of a second mortgage. You may also incur all the fees normally associated with a mortgage – closing costs, title insurance and processing fees. Talk to your tax advisor about whether the interest on a second mortgage may be tax-deductible.

Refinancing: This involves paying off your old loan and taking out a new mortgage on your home. To refinance, generally you’ll need to have equity in your home, a solid credit rating and a steady income. You’ll incur all the closing costs that go along with getting a new mortgage, so unless you’re doing extensive remodeling and can get a mortgage interest rate at least two points less than you’re currently paying, this type of loan may not be for you.

Home Equity Line of Credit: Like a second mortgage, a home equity loan lets you tap up to about 80 percent of the appraised value of your home, minus your current mortgage balance. Since it’s set up as a line of credit, you won’t be charged interest until you make a withdrawal, but you will have to pay closing costs. You can make withdrawals gradually as you start paying contractors and suppliers. The interest rate charged is usually variable and may be based on the outstanding balance. Make sure you understand the terms of the loan. If, for example, your loan stipulates that you need to pay interest only for the life of the loan, you’ll have to pay back the full amount borrowed at the end of the loan period or you could lose your home. The interest on home equity loans may be deductible; talk to your tax advisor.

Unsecured Loan: Although the interest rates charged are often higher and you generally will not be able to get a tax deduction for the interest paid, the costs of obtaining an unsecured loan are usually lower. The relative ease of obtaining this type of loan makes it popular for small projects costing $10,000 or less. The lender will evaluate your application based on credit history and income.

Be House Smart:You’ll be happiest with the outcome of a home improvement project if you plan carefully and do your homework. Armed with the information in this pamphlet and a realistic idea of your needs and budget, you’ll find your home getting closer to your dream of perfection.

Article Source: http://www.realestateinvestmentarticles.net

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By: V. Wheatley

The traditional method of buying a home is putting 20% down, after qualifying for a mortgage from a reputable financial institution. It also includes meeting the bill of a perfect to premium credit rating.

The traditional method works great for those who have all the requirements to fulfill their dreams of home ownership.

But, what happens if you’ve hurt your credit rating as a result of divorce, medical bills or slow payment?

Does it mean you are destined to life as a renter?

It doesn’t have to be that way if you are aware of how one can Rent To Own a home and rebuild their credit at the same time.

The Rent To Own option also doesn’t require a whooping 20% down, perfect or premium credit rating or a stamp of approval from a banking institution.

So, what does Rent To Own require and why would someone consider the option to Rent To Own to become a homeowner?

What Rent To Own requires:

1. Is that you want to own a home … over being a renter?

2. You are capable of paying your monthly payment on time every month. This is a critical step as it allows one to season the loan in their name.

It’s important that you understand the importance of seasoning the loan with you as the payer of that loan month after month.

So, what exactly is seasoning a loan?

Seasoning is an important step because what it provides is that through one’s monthly payments on the home they will be contracting to purchase through Rent To Own, they make those monthly payments in their name, which is termed Seasoning The Loan… At the same time, a professional Mortgage Broker is guiding them along the path to ensure that they fully qualify for a loan within 12-24 months based on their making timely monthly payments on the home, while living in the home with a contract with the Option To Purchase the home within the 12-24 months, or whatever terms are agreed upon by the seller and buyer.

It is important that you understand that you will have the option to purchase the home within the 12-24 months or agreed upon time frame.

This means that one can change their mind and decide not to purchase the home (choose not to Exercise The Option), within the 12-24 months and choose to move out and move on with their life.

Who would consider Rent To Own as a path to home ownership?

1. Someone who has found out they have to relocate because their job has transferred. (A Rent To Own offers someone who has to relocate the option to move into a home with a limited amount of money, known as option consideration money, which will be applied to the sale price of the home if the buyer decides to exercise their option to purchase and close on the home in the next, normally 12-24 months.)

2. Another situation that would benefit from a Rent To Own as a path to home ownership is a person or couple who want to purchase a home but haven’t managed to save up the 20% down required by a banking institution.

This person or persons may have very little credit or a slightly unfavorable credit rating, which would prevent them from immediately qualifying for a bank institution home loan.

3. The Rent To Own path can also be a path for someone who has gone through a bankruptcy. Yes, it is possible to acquire a home through the Rent To Own path if you’ve gone through a bankruptcy.

The Rent To Own path to home ownership is as implied, meaning you have the right to exercise your option to purchase the home at the agreed upon price within the time frame agreed upon… but you don’t have to exercise your option to purchase the home.

It is equally important to know the terminology of Rent To Own, also known as Lease Option, Lease Option To Purchase, Lease Option To Buy and in some situations (OWC) Owner Will Carry…

There are also words and phrases that signal the opportunity of a Rent To Own … Words, such as: No Bank Qualifying; No Credit Qualifying; Rent Credit; Creative Financing, etc.

So … what a Rent To Own offers is a path to home ownership over a lifetime as a renter.

There are many other Rent To Own arrangements to home ownership, which are agreed upon by the parties entering into the Rent To Own agreement.

Rent To Own is far from a one size fits all and opens up an array of creative terms and conditions that satisfy both the Seller and the Buyer. (And that Rent To Own Buyer can be you.)

Article Source: http://www.realestateinvestmentarticles.net

Ven Wheatley is a San Francisco Bay Area Real Estate Investor offering creative solutions to home ownership. www.bayareahomeownership.com

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