Sherry Lewis - Texas Realtor

Sherry Lewis - Texas Realtor Helping you find home! DFW Texas REALTOR® - Dallas/Fort Worth Texas Living! Contact me today at 817.709.5269 and lets find your home!

Committed to the fulfillment of your dream, whether buying or selling your house ... Helping YOU Find Home!

Home renovations that yield the highest return on investment (ROI) are typically those that improve the home's functiona...
11/08/2024

Home renovations that yield the highest return on investment (ROI) are typically those that improve the home's functionality, appeal, and energy efficiency. Here are some of the top renovations that consistently offer the best ROI:

Kitchen Remodel: Minor Remodel ROI: 70-80%

Why: Updated kitchens are very appealing to buyers and add functional value to the home. Even small updates like new countertops, refaced cabinets, and modern appliances can make a big impact without the expense of a full remodel.

Bathroom Remodel: ROI: 60-70%

Why: Buyers value updated bathrooms, and a minor remodel (like updating fixtures, adding modern tile, and improving lighting) can be cost-effective while adding appeal. Creating a more functional and stylish bathroom increases both comfort and resale value.

The lock period for a mortgage, also known as a rate lock period, is the length of time during which a lender guarantees...
10/30/2024

The lock period for a mortgage, also known as a rate lock period, is the length of time during which a lender guarantees an agreed-upon interest rate for a borrower. This rate lock protects you from potential interest rate increases between the time you are approved for the loan and when the loan closes.

Typical Lock Periods
• 30 Days: This is the most common lock period, often sufficient for standard home purchases.
• 45 or 60 Days: Longer lock periods are also common, especially if there are complexities or delays expected in the underwriting or closing process.
• 90 Days or More: Some lenders offer rate locks for even longer periods, which can be useful in cases where a new home is under construction.

Home appraisals are an essential part of the real estate process, providing an objective estimate of a property’s value....
10/28/2024

Home appraisals are an essential part of the real estate process, providing an objective estimate of a property’s value. Here are three key things to know about home appraisals:

1. Purpose of a Home Appraisal: A home appraisal determines the fair market value of a property, helping to ensure that buyers, sellers, and lenders understand its worth. For financed home purchases or refinances, lenders require an appraisal to confirm that the home is worth the amount they are lending.

2. How an Appraisal Is Conducted: The appraiser performs a thorough inspection of the property, which includes assessing its size, condition, layout, and any upgrades or renovations. The appraiser will use recent sales of similar properties in the area, known as "comps," to estimate the value of the home.

3. Impact of the Appraisal on the Transaction: If the appraisal comes in at or above the agreed-upon purchase price, the transaction can move forward as planned. However, if it comes in lower than the purchase price, it can complicate financing, as the lender will typically only lend based on the appraised value.

Understanding these aspects of home appraisals helps you better navigate the buying, selling, or refinancing process and sets realistic expectations about the value of a property.

Home equity is the portion of your home that you truly own, which represents the difference between your home’s current ...
10/25/2024

Home equity is the portion of your home that you truly own, which represents the difference between your home’s current market value and the outstanding balance on any mortgages or liens against the property. It can be thought of as the financial interest that a homeowner has in their property. Home equity can grow over time as you pay down your mortgage or as the property’s value increases. Home equity can be a valuable financial tool that grows over time and provides homeowners with options for accessing funds. However, it’s important to use it wisely, as borrowing against your home involves risk, and falling behind on payments can lead to foreclosure.

While an offer at or over asking - especially if you get to decide that number - sounds great in theory, there is plenty...
10/23/2024

While an offer at or over asking - especially if you get to decide that number - sounds great in theory, there is plenty to consider when it comes to actually selling your home in the current market. Deciding whether to sell your home for a good offer depends on multiple factors, including your financial goals, the current market conditions, and your personal circumstances.

Skipping a home inspection can be a costly mistake when buying a property, as it can lead to unexpected issues that coul...
10/21/2024

Skipping a home inspection can be a costly mistake when buying a property, as it can lead to unexpected issues that could significantly impact your finances and safety. A home inspection is a critical step that protects you from unexpected surprises and potential financial burdens after purchasing a property. It helps identify structural, electrical, and plumbing issues, ensures safety, and gives you the power to negotiate or even walk away from a bad deal. Skipping a home inspection might save time and money upfront, but the risk of facing significant, unforeseen problems is not worth it.

Are you in the market for a new home? Reach out and I’d be happy to provide a list of available homes in our area. In th...
10/18/2024

Are you in the market for a new home? Reach out and I’d be happy to provide a list of available homes in our area. In the meantime, learning about your local housing market is key to making informed real estate decisions, whether you’re buying, selling, or investing. Outside of using your agent as a resource, you can gather information about your local housing market in a variety of ways. You can follow local news and community boards, you can look at economic and demographic data like employment trends and population growth, or you could study historical market trends. We always recommend paying attention to mortgage rates and lending conditions. By combining these resources and strategies, you can build a comprehensive understanding of your local housing market, helping you make well-informed decisions about buying, selling, or investing.

Preparing to apply for a home loan involves several steps to ensure you present a strong application, get the best inter...
10/16/2024

Preparing to apply for a home loan involves several steps to ensure you present a strong application, get the best interest rates, and improve your chances of approval. Get a free copy of your credit report and check for any errors or discrepancies that could negatively impact your score. Lenders look at your DTI ratio to determine your ability to manage monthly payments. Reduce your debt load by paying off or paying down credit cards, student loans, or personal loans. A lower DTI ratio will improve your chances of approval. Depending on the loan type, you’ll typically need to save 3%-20% of the home’s purchase price. Prepare documents such as proof of income (pay stubs, tax returns, W-2 forms), bank statements, employment history, and other financial information.

Protecting a vacant home is essential to prevent a variety of risks that can lead to financial loss, property damage, an...
10/11/2024

Protecting a vacant home is essential to prevent a variety of risks that can lead to financial loss, property damage, and legal liabilities. Here are some key reasons why safeguarding a vacant home is important:

1. Prevent Vandalism and Theft
2. Minimize Insurance Risks
3. Avoid Maintenance Issues Turning into Major Damage
4. Legal and Liability Concerns
5. Maintain Property Value
6. Reduce Costs of Repairs and Rehabilitation
7. Peace of Mind

Taking proactive steps to protect a vacant home is a small investment that can prevent much larger losses in the long run, ensuring the property remains secure, in good condition, and ready for future use.

Choosing the right neighborhood is a crucial part of finding the ideal home. To determine if a neighborhood is right for...
10/07/2024

Choosing the right neighborhood is a crucial part of finding the ideal home. To determine if a neighborhood is right for you, consider the following factors that align with your lifestyle, preferences, and needs:

1. Safety�
2. Affordability�
3. Commute and Accessibility�
4. School Quality�
5. Lifestyle and Amenities�
6. Community and Environment�
7. Future Development and Growth�
8. Walkability and Public Spaces�
9. Demographic Fit�
10. Potential Neighbors

Ultimately, finding the right neighborhood is about aligning your priorities, preferences, and lifestyle with the qualities of the area. Taking time to thoroughly research and experience potential neighborhoods will help you make an informed decision.

Realtors have access to the Multiple Listing Service (MLS), which is a comprehensive database that contains up-to-date l...
10/04/2024

Realtors have access to the Multiple Listing Service (MLS), which is a comprehensive database that contains up-to-date listings of homes for sale, as well as detailed information about each property, such as square footage, previous sale prices, property features, and neighborhood data. MLS databases are maintained by real estate professionals and provide real-time information that is typically more reliable and complete than public listing sites. While many public websites, such as Zillow and Realtor.com, provide useful information, they often do not have the same level of detail or accuracy as the MLS. Realtors’ access to these exclusive resources and their expertise helps provide a more thorough and professional assessment of properties, making them valuable partners for buyers and sellers.

A Comparative Market Analysis (CMA) and an appraisal are both used to determine the value of a property, but they differ...
09/30/2024

A Comparative Market Analysis (CMA) and an appraisal are both used to determine the value of a property, but they differ in their purpose, who conducts them, and how they are used in real estate transactions. Both a CMA and an appraisal play important roles in the real estate process, but an appraisal is typically required by lenders, whereas a CMA is a valuable tool for pricing strategy.

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1301 Solana Boulevard, Bldg. 1, Suite 1505
Westlake, TX
76262

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Friday 8am - 7pm
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Telephone

+18177095269

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