Title Insurance September 25, 2019

Did You Know Title Insurance Rates Decreased in September?

Yes, you read that correctly. Every few years, the Texas Department of Insurance (the state agency that regulates title insurance) looks at title industry data to see how we are doing, and to see if a rate increase or decrease is warranted. The statistical data is provided to TDI by title insurance agents and underwriters. Currently, due to many factors including rising real estate prices, the Department implemented a 4.9% rate decrease, that went into effect on September 1st, 2019. The new rate will applies to all real estate transactions in Texas, including sales, refinances, and any other transactions that include the purchase of a title policy.

A decrease might sound surprising, but over the last 25 years, we have had several rate decreases, but only one rate increase. Is that a bad thing? Not at all. Periodic adjustments are healthy and a great indicator as to the strength of the Texas economy and the efficiency of the Texas title premium rate regulations.

Reposted with permission from Independence Title.

Home Buying July 21, 2019

Starting Your Search for Your New Home

 

Searching for homes might be the most exciting part of buying a home. In my experience, the key to eliminating the “never-ending search” is to set up a list of wants and needs.

Needs
Your first focus should be what you or your family must have in a home. This usually translates to the core characteristics of the house, i.e., those that cannot be easily changed. Beds, bathrooms, and size of the home (Sqft) fall into this category. I would also encourage you to include location and schools because the proximity to your workplace and the quality of school district are also sub-characteristics of the home.

Wants
Once you’ve established your needs, you can then shift your attention to the wants. Things like yard size, garage space, a chef’s kitchen, or office space are all desirable but typically won’t be a deal breaker. This is where compromise often comes into play and most homes will have most of what you want, but perhaps not everything. It even helps to rank your wants so you can work from an ordered list to help you make a decision.

Having these priorities will help narrow your search by keeping your focus on homes that fit your criteria!

Searching for homes is exciting and I want to offer my services up if you need help. As an agent, I can expedite the search process for you, get you into houses outside of open house times, and give my expect opinion on any homes you might be looking at.

Happy Hunting!