Looking For An All Cash Home Buying Company?

Deciding to to sell your home is NEVER an easy decision – sometimes if feels as though you’ll never find the ideal professional with the right combination of assets to guide you through the process – It can be trying to find an empathetic investor who understands the emotional history of your home or a motivated broker who can maximize the return on your property. We here at Gulf State Homebuyers understand that challenge and are here to be a constructive part of your process: is it time to proceed with selling your house? If so, let us explain why we’re well-suited to help.

After 12+ years of working in the industry, we have received myriad testimonials from clients recognizing the qualities they sought out in an all cash home buying company – we have summarized their experiences to assist you in your own decision making process.

Find An Accredited Company

Selecting a reputable company can make or break your future – too many times have we witnessed a seller fall victim to the best offer or cheapest broker and end up losing it all. To avoid running into problems with your home buying organization, ensure that you sign on with an accredited company; they’ll guarantee a basic level of quality in the services that they provide – speed, professionalism, and exceptional customer service.

Our BBB rating is 5 out of 5, demonstrating that we are not some unrecognizable company from the internet; rather, we are active, present, and consistently held accountable, which is evident in our ratings.  We were also recognized by the BBB the last three years by receiving the Houston Distinction Award for 2016, 2017 & 2018.

Get Someone Who Is Empathetic And Understanding

Empathy means understanding how your actions and words affect others; wouldn’t you want to find this quality in your investor? We choose to prioritize empathy because there are thousands of real estate investors that are eager for your business but may be driven purely by the promise of leveraging your difficulties for their own financial gain. It is crucial that, when selling your home, you find a representative who is genuine in their understanding of your unique situation.

You can’t rush a good decision, and we believe in getting it right. We are sensitive to the emotional difficulties that come with cleaning out your home and preparing to make a substantial transition in lifestyle – we are happy to provide the time you need to prepare for that next step. Our motivation is not to sell your home but to make you the best offer we can and to provide the smoothest close possible.

Find A Company That Is Trustworthy 

TRUST – it’s hard to build and easy to lose. When confronting the loss of an asset as laden with emotion as a family home, it is necessary to have a trusted company in your corner. Not only do they need to have a reputable history, but they should also display knowledge and patience throughout the transaction process. Not everyone is well-versed in nuances of the the real estate process, especially those selling their homes unexpectedly; therefore, locating a company who you can trust will facilitate a smoother closing.

Our top priority at Gulf State Homebuyers is to ensure that you feel safe and secure in the transaction – we are here to build trustworthy relationships and create an open line of communication with our clients. If at any moment you have hesitations, questions, or just plain uncertainty, we are only a phone call or email away.

Get a FAIR offer…not a low ball offer.

Do not sell below market value just because you are in a rush to sell. There are plenty of buyers seeking a fair deal who are willing to pay the right price.

However, do understand that the chief benefit of selling all cash is expediency: a quick close. With this in mind, seek out a fair deal. Typically, all cash offers will be lower than an offer that requires a finance contingency – this is just a standard real estate negotiating skill. That being said, make sure that the offer is fair and comparable to other available all cash offers in the market. (Hint: Review comps for all cash deals!)

We guarantee fair offers. We are not looking to leverage our clients’ misfortunes for our own gain, but rather to provide them opportunities to move forward with their lives. We provide free market evaluations and property assessments to ensure your that you receive a top-notch offer.  Check out our process video here.

Why Choose Gulf State Homebuyers?

We are not just informing your of how we believe we perform – but rather sharing with you the testimonials of our clients past clients. Our most notable recent review stated:

“There is nothing better than doing business with someone who you know cares. These guys will always be like family for what they did.” – 

We will provide you with quality service and support in every stage of the process. We are not seeking a one-time deal but a long term, positive relationship. When you employ our services, we guarantee genuine loyalty and phenomenal customer service.

Find out for yourself! Contact us and we can start a conversation today.

The Truth On How The Tax Cuts and Jobs Act of 2017 Affected Homeowners

When the Tax Cuts and Jobs Act of 2017 passed on January 1, 2018, there was plenty of hype surrounding the notion that it was time to buy. The bill promoted the benefits to new and potential homeowners, including:

– Tax rate reductions
– Mortgage interest deductions
– Standard deductions indexed for inflation
– Deductions for state and local taxes
– Personal exemptions repealed

This all sounds great, right? Well, now that we are in the third quarter of 2018, it is time to assess the truth behind the bill. There were many aspects of the bill that were either overlooked or lacked publicity – but now that homeowners are living the changes, more convincing reports are in. Here are 5 of the recent issues we have found reported as having impacts on homeowners both in Texas and across the nation.

1. There are restrictions on deductibility for refinancing. The deductions for interest on refinances have been eliminated. Prior to the new law, deductions for qualifying mortgage interest plus $100,000 for equity debt were permitted; now, the IRS has eliminated the deductions “unless they are used to buy, build or substantially improve the taxpayer’s home that secures the loan.”

What does this mean? Individuals who refinanced their home for reasons other than those identified by the IRS – such as to improve their debt – have lost opportunities for deductions. This reduces motivation for individuals to refinance, ultimately reducing their ability to manage in the United States debt crisis.

2. PMI has been removed. PMI, or premiums for mortgage insurance, were included with deductible home mortgage interest. This allowed struggling home buyers to receive a loan through the addition of PMI, allowing for a reduction in the expected 20% down on a home; however, now that this option has been removed, home buyers are struggling to meet the minimum criteria to purchase a home and have no alternative around the rules.

Homeownership boosts the US economy, provides social benefits, and develops and distributes wealth. Unfortunately, the removal of PMI is not sustainable and eliminates opportunities for the middle and lower classes. As real estate wealth leans towards the upper class, that of the middle class appears to be shrinking.

3. There are limits on state and local tax deductions. The limit to claim on Schedule A is now set – $10,000 for an individual and $5,000 for married taxpayers filing separately. This is primarily affecting individuals living in high-property-tax states and those in high-income-tax states.

Texas is a high-property-tax state. Have you looked at how this will affect your taxes for 2018 in comparison to 2017? Remember too that Texas does not have a state income tax, but Texans who own a home outside of Texas may be responsible for the additional taxes.

4. Mortgage interest deduction is capped at $750,000. The mortgage limit under the previous tax law was $1,000,000 – this means that any interest exceeding the cap can no longer be deducted unless the mortgage was pre-existing.

This cap will make it challenging for individuals who purchased homes near the $750,000 price point to sell their home in a couple of years. With inflation, the buyer pool may decline. Although individuals expected to get ahead by buying now, they may feel the consequences in later years.

5. No more casualty losses. A casualty loss is defined as damage, destruction, or loss of your property from a sudden unexpected or unusual event, such as a fire, flood, hurricane, tornado, or earthquake. Prior to the new bill, casualty losses could claim a deduction on their filings – however, the deduction can now only be claimed on a federal disaster.

This is an important aspect to consider for any homeowner in the state of Texas, where seasonal storms and heavy rains can dramatically affect the interiors and foundations of homes. With the passing of the Tax Cuts and Jobs Act, homeowners will no longer be protected unless the storm is considered a federal disaster. Homeowners’ insurance is even more important than it was before – but it can be costly at the end of the day.

Is Owning Still Better Than Renting?

The answer to this question is debatable. Although the new tax bill provided many benefits for new and seasoned homeowners, it also created additional challenges. The pros and cons of each side need to be identified to determine if keeping your home is the best option for your long-term financial plan.

Consider the benefits and the risks, and consult with a professional. The changing dynamics of deductions and restrictions could be negatively impacting your future. To learn more, contact us at Gulf State Homebuyers and we can help you understand your position.

10 Tips To Increase Your Home’s Value

Thinking of selling? If the answer is YES, consider the following tips to help improve the market value of your home.

1. Invest in the Small Improvements

Chances are, your walls are sporting a few dents, and not all of your pipes are exactly free of leaks. They’re easy to ignore, but seemingly insignificant issues like these can actually drastically decrease the value of your home. Fixing them has myriad benefits – it both increases the front-end listing price and reduces the number of “negotiating tools” a potential buyer might try to leverage. “Negotiating tools” refers to any minor repairs that a buyer could frame as a weekend project – repairs that they utilize to justify a reduced offer on the basis that they’d be taking on an additional burden.

2. Try Low-cost and Low-maintenance Landscaping

You’ve probably heard that “first impressions are lasting!” The adage holds true, especially for home buyers. When a potential buyer walks onto a new lot, they instinctively place the home into one of two categories: “Buy It” or “DON’T”. A visually appealing entrance and manicured yard can both increase value and ensure buyers’ recognition of the property by setting your property out from the crown. A few simple tips to improve your landscaping include:

● Plant drought-resistant plants
● Clean up hedges
● Prune shrubs and small trees
● And mow the lawn!

3. Get Your Home Inspected

Save the buyer the hassle, and do it yourself. You are now conveying to a potential buyer that you are serious about selling, which once again diminishes their repertoire of “negotiating tools.” Furthermore, you can address all issues that may have been found in the escrow process, reducing your risks of a buyer backing out of a deal.

4. Replace Your Bathroom Faucet

Bathroom faucets are easy to replace and add significant value to the overall aesthetic of you bathroom. Pick a clean and versatile look that will pair with any style or decor. Adding a small, simple update can give the buyer the illusion that the home has recently been remodeled. While making improvements in the bathroom, try caulking around the bathtub and installing a low-flow toilet as well. These small additional upgrades can go a long way.

5. Paint Your Home

Get rid of the old school colors and go neutral. Everybody has different preferences, and as a seller, you want to provide your buyer with the opportunity to imagine the home of their dreams. Painting the interior of the house in neutral tones enables a potential buyer to more easily imagine adding their own touch to the home. Research indicates that neutral color schemes score as the top-selling interior colors – their timeless appeal transcends the tastes of generations.

6. Cut Energy Costs – Go Green

“Going Green” is the newest trend, and it can save homeowners thousands in the end. Try these simple improvements and market your property as a “green” living space.

● Purchase a new water heater
● Assess your air HVAC system
● Replace the windows with high-efficiency windows
● Replace old bulbs with LED Lights
● Install solar panels

7. Keep It Clean

Trash and dirty, unkempt spaces are likely to scare away potential buyers. In their minds, a dirty home is indicative of poor maintenance practices and a general lack of upkeep. Buyers need to feel confident that mold and other unsightly grime hasn’t been building up in the corners and under the baseboards to start haunting there nostrils with the arrival of the year’s first heat wave. Additionally, a messy previous home owner is less likely to notice more serious or permanent damage caused to the cosmetic appearance of doors, windows, railings, and other upgrades.

8. Open The Space

If you are planning on selling soon, clear out the clutter! New home buyers want to see an open space so that they can imagine their belongings in the home. If you have a little more time, open the space further…knock out those unnecessary non-structural walls, for example, and create an atmosphere of possibility and invitation. Opening the space creates a flow in the house, especially for younger buyers who are seeking an open concept home.

9. Fix or Replace Flooring

Depending on the condition of the flooring, it may be beneficial to make a change. If you are stuck in the 1970’s with rag carpet, try installing hardwood floors. If you have a squeaky floor or broken tile, fix it! The floor is also a tool for opening up space and provides opportunity for a potential buyer to imagine themselves in the home. Everyone knows that this repair can be timely, so remove that future burden from a potential buyer.

10. Upgrade The Kitchen

While this upgrade can be one of the costliest, it has the potential to increase your home’s value up to 7%! If you pursue a modern aesthetic, you increase your buyer’s pool; try installing stainless steel appliances or quartz countertops. You do not need to rip everything out, but merely facilitate the illusion that the home is brand new.

At The End Of The Day…

Remember that all of the time and money you invest in the home only helps increase the selling price. However, in the end…ALWAYS weigh the benefits of investing your time and energy versus selling now.

Selling as-is creates an opportunity to get out without all of the work! Many individuals are not in a place to invest money, or they simply do not have the time to make these repairs – if that is the case for you, that’s okay! Remodeling is not for everyone.

Our suggestion: get your house evaluated BEFORE making the investments. You may be sitting on a gold mine you were unaware of. We here at Gulf State Homebuyers would be happy to provide you with a free assessment to help you determine what the next best option is for you!

5 Facts About the Baytown Market You Need to Know

Whether you are looking to buy, sell, or invest in real estate, it is imperative that you are familiar with the local market. We here at Gulf State Homebuyers specialize in purchasing homes, all cash, in the Baytown area. We offer unique services to those looking to quickly or easily get out of their home – it does not matter if it is for quick cash or to pay off a mortgage, we can help.

However, before suggesting that you sell, we want to ensure that you are knowledgeable about the current market. Selling a home can be a big decision and life changing, so let’s make sure you are educated! Below we have outlined 5 facts about the Baytown market you need to know to make an educated decision about the future of your home.

1. It is a SELLERS market

Currently the real estate market is a sellers market – this means that selling prices are high and generally speaking, inventory is low. According to a recent HAR report, the current average listing price is $239,650. There has been almost a 9% increase in home prices over the last year, and over the next 12 months there is a 0.3% forecasted increase in prices.

Although the prices are anticipated to continually rise, beware of the concurrent rising interest rates. Rates are hovering at 4%; however, by the end of Q4 2019, the GSE expects rates on 30-year fixed mortgages to reach 5.1%– meaning anyone looking into buying a house, now’s the time to pull the trigger. Therefore – sellers should get ready to sell if they want to get the most for their house.

2. Don’t forget, renting is an option too!

Market trends in Baytown show a slight fluctuation over the last 12 months in Baytown rental rates and the number of rentals.The last 6 months has displayed a positive opportunity for renters – rental rates have declined almost 6%.

How does this compare to the last 12 months? In October 2017 Baytown saw the 12 month record low for both number of renters and rental rates – however, since then, a slight increase has been continuous. There is no expectation for rental rates to decline anytime soon, so if you are looking to transition, now may be the best suited option.

3. Do not end up in a foreclosure

Most individuals who have financial difficulties lose their homes to a foreclosure – one event that no one wants to experience in their life. This occurs when an individual can no longer afford to pay their mortgage and the bank takes over their home. This causes homeowners to lose all equity and be left homeless. Currently in Baytown, 1.7% of homeowner in Baytown have delinquent mortgages – this is higher that the national value, which is 1.6%. If YOU are nearing foreclosure on your home, it is time to get out before it is too late.

4. Unemployment is HIGH

National unemployment rates for June 2018 were at 4.1%. But in Baytown, unemployment is hitting 9.8%! Not only does this indicate less buyers, but it also directly correlates to the declining rental rates. With less money to allocate to rent, homeowners renting their homes need to reduce the rents to match the market.

These high unemployment rates also indicate potential trouble in the local economy – the future of the market is uncertain.

5. Don’t Depend on Vacation Renters

If you are holding onto your investment home for the opportunity to take advantage of vacation renters, maybe through an online service such as AirBNB, be weary. As of July 1, 2018 there were reported over 300 entire homes available to rent in Baytown, Texas. Therefore, if you are planning on falling back on passive income for your uninhabited property, expect to invest to create a unique experience for potential renters. You unit will need to stand out to make the the renters intrigued.

These are just a few of the impactful trends occurring in the Baytown market – all which directly impact the price of your home. From the trends we are seeing, this may be an opportunistic time to assess your property value and determine if it is an appropriate time to sell. Always remember, there is no guarantee in the real estate market, and an unexpected change can occur. As an agency, we offer FREE property valuations that can help you make an effective decision on what to do – is it time to sell, buy, or hold? Just contact us and we can get you started.