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Chiriboga Realty LLC Blog

Wednesday, April 4, 2018   /   by Joseph Moncada

Is the Real Estate Market Going to Crash?

Many Americans worry that the real estate market is going to crash. In  a recent survey 58 percent of people agreed that there will be a "housing bubble and price correction" in the next two years. As a result, 83 percent of them believe it's a good time to sell. 
Warning Signs
There are plenty of signs that the housing market is heading into trouble. 
One sign of an asset bubble is that home prices have escalated. National median family home prices are 32% higher than inflation. That's similar to 2005, when they were 35% overvalued.
The Housing Bellwether Barometer is an index of homebuilders and mortgage companies. In 2017, it skyrocketed like it did in 2004 and 2005. That's according to its creator, Stack Financial Management, who used it to predict the 2008 financial crisis. Similarly, the SPDR S&P Homebuilders ETF has risen 400 percent since March 2009. It outperformed the S&P 500 rise of 270 percent.
Home pr ...

Thursday, November 30, 2017   /   by George Chiriboga

FREE Home Buyer Class in Houston TX

Home Buying Class in Houston, TX, Helps Houston Buyers Find Their Dream Home...
Houston, Texas – Buying a home is a complex process. Title Insurance – inspections – negotiations – mortgages. To help ensure that your home purchase is profitable and problem free, three area companies have teamed up to sponsor a home buyer’s class to teach you the secrets of successful home buying.
The class is presented in an information packed two-hour format and held at 5555 West Loop S #420, Bellaire, TX, 2 miles south of the Galleria area. Whether you personally own a home or whether this is your first time, you will learn new tips and strategies for getting the best buy and the best mortgage.
At the class, you’ll learn:

How much home can I afford?
How to buy HUD homes?
What government programs do I qualify for?
How many zero down home loan programs do I qualify for?
What are closing costs?
What are the important differences between new and m ...

Friday, November 10, 2017   /   by George Chiriboga

"We loved working with Jorge and Suzanna"

The day we found out about this house, we were hours away from flying to San Diego for a 3-day trip. And, to make it more interesting, there were already three strong offers submitted on the house.
We coordinated with the listing agent the showing of this home, contacted our preferred lender to get them pre-approved ASAP, quickly studied the market values in this neighborhood, prepared our offer, and presented it in a way that the seller would love to have the Hance's as their buyers.
After the offer was submitted, we negotiated the terms from our hotel in San Diego, got it under contract the same night, and immediately proceeded to satisfy the contingencies agreed in the contract to make it a smooth process, and it was!
We loved the whole process!!!
As a Certified Residential Specialist REALTOR® , I am committed to providing such extraordinary service and expertise that you will gladly refer your friends, family and acquaintances. With your help I am able to build strong bus. ...

Friday, October 20, 2017   /   by George Chiriboga

Up to $15,000 in Downpayment Assistance

This program allows qualified Texans access to competitive interest rate home loans and down payment and closing cost assistance. Homebuyers who meet the following minimum requirements are eligible to apply for a loan under the program:
First time or non-first time buyers
Maximum income for a family of 3 or more in Harris and Fort Bend counties: $82,225
Maximum income for a family of 3 or more in Brazoria County: $98,440
Maximum Purchase price in Harris, Fort Bend & Brazoria counties: $304,941
Minimum FICO score 620

Program Benefits

A 30-year fixed interest rate mortgage loan, several rates and loan options available
Down payment assistance (DPA) 3% to 5% of the loan amount
You do not have to be a first-time homebuyer
Not required to live in the home for any set period of time
DPA is a gift that never needs to be repaid
First time buyers can apply for the Mortgage Credit Certificate (MCC) Program

It's a fast, simple process. You only need to apply with an approve. ...

Friday, October 20, 2017   /   by George Chiriboga

Up to $35,000 Home Mortgage Tax Credit

The Texas Department of Housing and Community Affairs created its Texas Mortgage Credit Program for the residents of Texas, to help make ownership of new and existing homes more affordable for individuals and families of moderate income, especially first time buyers. You can receive up to $2,000 in dollar for dollar credit per year. If you stay in your home for the entire term of the loan, you could receive in return up to $35,000 in tax credit. This is an actual credit, not a tax deduction.
What is a Mortgage Credit Certificate? A Mortgage Credit Certificate allows the homebuyer to claim a tax credit for some portion of the mortgage interest paid per year. It is a dollar for dollar reduction against their federal tax liability.
Note: The Mortgage Interest Credit (MCC) is a non-refundable tax credit, therefore, the Homebuyer MUST have tax liability in order to take advantage of the tax credit.
Who is eligible to receive an MCC? The program is open to those individuals and families w. ...