832-980-8007 or 936-228-9854

LAKE CONROE REAL ESTATE IS HEAVILY SOUGHT AFTER. OUR DRIVE AND FOCUS IS TO HELP YOU NAVIGATE THE LAKE CONROE REAL ESTATE MARKET AND FIND YOUR BEST OPTIONS AND VALUE.

 

WHY BUYERS WORK WITH US:

WE LISTEN to what you want and strive to deliver the ideal property for your needs at the best price.

WE SIMPLIFY  a complicated process and bring you the most important and vital information.

WE KEEP IN TOUCH never leaving  you guessing what is next.  We update you on each step along the way on how to buy a house. We keep you updated on market trends, new listings that meet your criteria, and an occasional “How are you doing,” call.

WE USE STRAIGHT TALK  and understand that a real estate purchase is an emotional process, so we maintain an objective perspective on all options.

WE UTILIZE TECHNOLOGY TO GET YOU THE BEST DEAL from MLS to property records to tax databases providing you with the most relevant information to make an educated offer.  Understanding the seller’s position and motivation is something that gives our buyers a competitive edge.

WE MANAGE CHANGE IN THE MARKETPLACE and as local Real Estate Professionals we keep a current database of a variety of service companies to ease the transition into your new home.

Hoover Lake Conroe Realty’s number one priority is customer satisfaction.  Below are FAQ’s to help our clients in their real estate investment:

Homeowner Basics

  • Expect to spend an estimated 1 percent of the purchase price of your real estate investment annually on maintenance such as new windows, sealing driveways, gutter repair, and other maintenance associated with property ownership.
  • Tax Breaks for first-time buyers
    • Mortgage Credit Certificate programs- first-time homebuyers can qualify for federal income tax write-offs to make qualifying easier.
    • Homeowners who itemize their returns can deduct mortgage interest and property taxes.

Credit FYI

 

  • Most of the credit reporting organizations provide one free copy of your tax return annually.
  • Begin monitoring your credit score six months before shopping for a home.
  • Use that time to build or repair credit. Be sure to check your report for mistakes, unpaid accounts or collection accounts.
  • Credit Utilization is a ratio of how much credit is used versus available credit and is a key to an optimal credit score.

Taxes

  • Can I deduct my mortgage interest?  Yes, mortgage interest deduction allows you to deduct the interest on your real estate investment for the year that you paid it.  In order to deduct mortgage interest it must be itemized and your total deductions must exceed the IRS’s standard deduction.
  • Can property taxes be deducted? Yes, property taxes are fully deductible against current income taxes.
  • How are property taxes calculated?  Texas uses the Appraisal District method that consolidates all of the taxing districts such as county, city schools, hospitals, etc. into one tax billing using the same appraisal value.  The amount of taxes due is unique to each property and is based on appraisal value and location.  As Realtors, we will be able to give you an estimate on the annual tax liability of each property.
  • What are property taxes used for?  Property taxes are used to help fund public services.
  • Are homeowners’ fees tax deductible?  No, homeowners fees are not tax deductible because they are considered living expenses.
  • What is a Cost Basis? Cost basis is defined as the money an owner spends for permanent improvements through the time in their home.  These are added to the amount paid for the property and are used to offset the capital gains taxes when a real estate investment is sold.
  • What is an Escrow account? An Escrow account refers to an account created by the lender to hold money to pay for real estate taxes and mortgage and homeowners insurance premiums each month.

Insurance

  • Standard homeowners insurance protects against: fire, lightning, wind, storms, hail, explosions, riots, aircraft wrecks, vehicle crashes, smoke, vandalism, theft, breaking glass, falling objects, weight of snow or sleet, collapsing buildings, freezing of plumbing fixtures, electrical and water damage from plumbing, heating or air conditioning systems.
  • Standard insurance policies are called “at-risk” policies that cover everything except earthquakes, floods, war and nuclear accidents.
  • Basic policies are expandable and able to include coverage for floods and earthquakes.
  • Home-based business-coverage does not cover liability associated with business.
  • Recommended insurance coverage is equal to the full replacement value of the home.
  • Inflation rider is type of insurance coverage that increases as the home value increases.
  • A Guaranteed Replacement Cost Insurance tends to cost more but delivers more comprehensive coverage than standard policies.  It promises to cover the complete costs less deductible of replacing a destroyed house.