Don't ignore these mortgage documents

The homebuying process contains many moving parts and lots of paperwork. It's hard to keep up with all the decisions and demands on your time. But when you start applying for a mortgage, there are two documents that you should pay special attention to: the Loan Estimate and Closing Disclosure. The Loan Estimate This is a three-page document that you'll receive from your lender no more than three business days after receiving your loan application. It provides important details about the loan you're trying to get, such as the estimated interest rate, monthly payment, and total closing costs for the loan. The Loan Estimate also tells you about the estimated costs of taxes and insurance, and how the interest rate and payments may change in the future. At this point, you haven't been approved for anything. It's just a summary of what you've applied for and how much it's going to cost. Once you have been approved for the mortgage loan, you can look forward to receiving the next important document. The Closing Disclosure This five-page form provides final details about your loan. It includes the loan terms, your projected monthly payments, and how much you will pay in fees and other costs to get your mortgage. You'll get the Closing Disclosure at least three days before closing on your mortgage loan. Use this time to review the terms and costs and make sure they are correct. For guidance on these documents and others related to the homebuying process, talk to your REALTOR® and mortgage lender.

When can I put my house back on the market after a contract falls through?

A buyer and I used TREC's One to Four Family Residential Contract (Resale) for the sale of my home, but the sale didn't close by the date in the contract. While the buyer and I figure out how to terminate the contract-and who gets the earnest money-can I put the house back on the market? I want to sell it, not waste weeks while we consult our attorneys. You should talk to an attorney first about the legal liabilities of proceeding with a sale without terminating the original contract. In this situation, there are two ways to formally terminate the contract: • The parties can agree to terminate and sign a document that releases both parties from further obligations under the contract. If you are working with a Texas REALTOR®, he or she can use TAR's Release of Earnest Money form to accomplish this. • A judge can order the contract terminated. Your primary goal should be formal termination of the contract. This ensures you can sell the property to someone else without risking a lawsuit that could stop a subsequent sale of the property.

Summer Longest Causeway Run & Fitness Walk

The 2016 Summer Longest Causeway Run & Fitness Walk is scheduled June 4th, 2016 Registration is Now Open! Click the Blue 'Register Now' button or download a printable version of our registration form! June 4, 2016– 7 a.m. – Port Isabel/South Padre Island, Texas The 2016 Summer Longest Causeway Run & Fitness Walk, scheduled to be held Saturday, June 4th. The event is expected to attract thousands of participants wanting to take advantage of the unique opportunity to cross the 2.6 mile Queen Isabella Causeway on foot. The summer run and walk is patterned after our 32 year old January event, but with a new course. (Click here to view the course map) The 6.2 mile (10K) course starts at Schlitterbahn Beach Waterpark on South Padre Island and ends at the new Port Isabel Event & Cultural Center (PIECC). Runners will also be treated to a waterfront loop through Isla Blanca Park before continuing on to the causeway and Port Isabel. Walkers along the 5K course will also start at Schlitterbahn and end at the PIECC, where awards ceremonies will be held immediately following the race. Trophies as well as cash prizes will be awarded to the top three male and female runners overall. First through third place awards will be presented in each of the 23 male and female divisions. All participants who cross the finish line will be presented with medals.

Summer Bird Camp on South Padre Island

Ribbon Cutting of the Island's newest restaurant, Russo's New York Pizzeria.

The South Padre Island Chamber of Commerce Islanders, Board Members, and Chamber staff were honored tonight to participate in the official Ribbon Cutting of the Island's newest restaurant, Russo's New York Pizzeria. Russo's staff started sharpening their skills today with a few people at lunch and dinner tonight, and they OFFICIALLY OPEN ON TUESDAY, APRIL 19TH! Shown cutting the ribbon is Brian Ferguson, Director of Operations, and to his far left is Carlos Varela with Varco, owners of Russo's. We are excited to have Russo's join our community, and appreciate their willingness to invest their resources on South Padre Island.

Quarterly Public Affairs Luncheon

South Padre Island Chamber of Commerce Quarterly Public Affairs Luncheon. Friday, May 13th 11:45am at the Pearl on South Padre Island.

How much should you offer for that house?

You've likely heard that everything is negotiable in real estate. That's because buying real estate isn't like shopping at the mall or buying groceries, where you just pay the advertised price. Instead, a real estate buyer can submit an offer for less than the asking price, or more, or even offer the asking price but use other considerations to make their offer more attractive ... and a seller can accept (or reject) any of these offers. Start with a professional The best way to present a strong offer is to work with a Texas REALTOR®. He or she will help you determine your realistic budget before you even start looking, and then use market knowledge and experience to help you arrive at the best offer for a property. In fact, a 2015 consumer survey found that the top three things buyers need from a real estate agent are: help finding the right home for them, help negotiating the terms of the sale, and help with price negotiations. How much was the neighbor's house? One way your Texas REALTOR® will likely help you find the best offer is to review the sale prices of comparable properties nearby that have sold recently. He or she will look for homes in relatively the same area that have features similar to the property you're considering. These features can include square footage, number of bedrooms, and age of the property. Demand can play a role, too If you're in a market where properties are under contract soon after listing-a matter of hours, in some cases-your Texas REALTOR® will have advice for being ready to take action. This can mean offering more than the asking price or negotiating other items in the contract that make your offer attractive ... something you definitely can't do at the mall.

New Listing: Moorings Condos #224 Port Isabel, TX

New Listing at The Moorings Condos in Port Isabel. There are multiple balconies and beautiful views of the Laguna Madre Bay and Port Isabel. Call me to schedule a showing (956) 433-6291 Click HERE for more information