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One West Real Estate Co. Blog

Wednesday, June 22, 2022   /   by Sydney Patterson

Things To Avoid After Applying for a Home Loan

Once you’ve applied for a mortgage to buy a home, there are some key things to keep in mind. While it’s exciting to start thinking about moving in and decorating, be careful when it comes to making any big purchases. Here are a few things you may not realize you need to avoid after applying for your home loan.
Don’t Deposit Large Sums of Cash
Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.
Don’t Make Any Large Purchases
It’s not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. People with new debt have higher debt-to-income ratios (how much debt you have compared to your monthly income). Since higher ratios make for riskier loans, borrowers may no longer qualify for their mortgage. Resist the temptation to make an. ...

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  real estate, home buying, homeownership

Wednesday, June 22, 2022   /   by Sydney Patterson

1375 Fairlakes Pointe Dr, Rockwall, TX 75087 | Rockwall Beauty | Hornburg Real Estate Group at One West Blog

Offered for $450,000
WOW! This home won't last sitting in the heart of The Shores community! The location near Lake Ray Hubbard can't be beat! The foyer flooded with natural light will greet you when you enter the home. The formal living and dining rooms are sure to impress as you enter. The huge master suite is located off the formal living room and separate from the other bedrooms. The large kitchen features an abundance of storage, tons of counterspace, breakfast bar, double ovens, electric cooktop, and large pantry. The eat-in space off the kitchen has tons of space including it's own cabinetry and perfect spot for a coffee bar! Home also features a generously-sized hobby room. Don't miss the massive 3-car garage! Head outside to the spacious backyard with plenty of space for entertaining. The backyard is also home to the sauna, that is operational, but needs some upkeep. The community features a neighborhood park and is a part of the Rockwall Golf and Athletics Club. Don't miss ...

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Tuesday, June 21, 2022   /   by Sydney Patterson

The Average Homeowner Gained $64K in Equity over the Past Year

If you own a home, your net worth likely just got a big boost thanks to rising home equity. Equity is the current value of your home minus what you owe on the loan. And today, based on recent home price appreciation, you’re building that equity far faster than you may expect – here’s how it works.
Because there’s an ongoing imbalance between the number of homes available for sale and the number of buyers looking to make a purchase, home prices are on the rise. That means your home is worth more in today’s market because it’s in high demand. As Patrick Dodd, President and CEO of CoreLogic, explains:

“Price growth is the key ingredient for the creation of home equity wealth. . . . This has led to the largest one-year gain in average home equity wealth for owners. . . .”

Basically, because your home value has likely climbed so much, your equity has increased too. According to the latest Ho. ...

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  real estate, homeowner, equity, home price appreciation

Monday, June 20, 2022   /   by Sydney Patterson

Why Achieving the Dream of Homeownership Can Be More Difficult for Some Americans

Today we take time to honor and recognize the past and present experiences of Black Americans. When it comes to real estate specifically, equitable access to housing has come a long way, but the path to homeownership is still steeper for households of color.
The Gap in Homeownership Rate in America
It’s a more challenging journey to achieve homeownership for some buyers, as shown by the measurable gap between the overall average U.S. homeownership rate and that of non-white groups. Today, Census data shows the lowest homeownership rate persists in the Black community (see graph below):

This graph clearly indicates there’s a gap that still exists in the percentage of people in each community who are able to achieve homeownership. 
How Homeownership Impacts Household Wealth 
One of the challenges that could make buying a home harder for these groups is how difficult it can be to accumulate wealth. Even today, there are. ...

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  real estate, homeowner, homeownership

Monday, June 20, 2022   /   by Sydney Patterson

416 Blaze Ct, Burleson, TX 76028 | Lots of Potential | Hornburg Real Estate Blog

Offered for $350,000
You won't want to miss this beautiful home with an open floorplan, neutral colors throughout, great storage space with a fenced backyard! The kitchen features granite, tile backsplash & dark wood cabinets. The home also features crown molding, a wood burning fireplace and a huge foyer! The home is located on a cul-de-sac street near the local elementary school! The community offers a pool, a city park and has a pond project slated for completion! The location is perfect as you're near Alsbury, 174 and 35W!

Check out our website to get more information on buying, selling, and investing in real estate. Check out our page Hornburg Real Estate Group or call us at (817) 264-7087 or 682-422-3814.
Find out what your home is worth. ...

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  real estate, housing supply, expert advice