Even though home prices have moderated over the last year, many homeowners still have an incredible amount of equity. But what is equity? In the simplest terms, equity is the difference between the market value of your home and the amount you owe on your mortgage. The National Association of Realtors (NAR) explains how your equity grows over time:
“Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off the mortgage.”
How Your Equity Can Help You Achieve Your Goals
The equity you build up over the years can be used to your advantage when you sell your current house and buy your next home. If you no longer have the space you need, it might be time to move into a larger home. Or it’s possible you have too much space and need something smaller. No matter the situation, your equity can be a powerful tool you can use to help you make a move in today’s market. That’s because it may be some (if not all) o. ...

If you own property in Harris County, Texas, you may have noticed a significant increase in your property tax bill over the past few years. Property taxes in Harris County are among the highest in the state of Texas, and homeowners often struggle to keep up with the rising costs.

Fortunately, homeowners in Harris County have the right to protest their property tax assessments if they believe their home's value has been overestimated. In this article, we will discuss the steps you can take to protest your property taxes in Harris County.


Understand the Process


The first step to protesting your property taxes is to understand the process. The Harris County Appraisal District (HCAD) assesses the value of your property each year and sends you a notice of assessment in the mail. This notice will provide you with the estimated value of your property and the amount of property taxes you owe.

If you believe the assessed value of your property is too high, you have the right to . ...

Are you planning to buy a home this spring? Though things are more balanced than they were at the height of the pandemic, it’s still a sellers’ market. So, when you find the home you want to buy, remember these four tips to make your best offer.

1.Lean on a Real Estate Professional

Rely on an agent who can support your goals. As Bankrate notes:


“. . . select the best real estate agent for your needs. They will be a critical part of your home buying process.”

Agents are local market experts. They know what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller needs can help your offer stand out.

2.Know Your Budget

Understanding your budget is especially important right now. As Sandy Higgins, Senior Wealth Advisor at Capstone Financial Advisors, puts it:


“Understand your current budget … ...

You may have seen reports in the news recently saying it’s better to rent right now than it is to own your home. But before you let that impact your decisions, you should understand what these claims are based on.
A lot of the time, these reports are assuming things that aren’t realistic for the average household. For example, the methodology behind one of those reports says that renting is the smarter financial option because of the opportunity to invest money elsewhere. It assumes renters take the money they’d spend on costs tied to buying a home and put it in an investment portfolio.
But here’s the thing – most people who rent aren’t making those investments. Ken Johnson, Co-Author of the BH&J National Price-to-Rent Index, explains:

“One of the difficulties with the rent and reinvest model is many people . . . simply rent and spend the difference. . . . That’s wealth destroying.”

Th ...

The #1 obstacle stopping home buyers in Houston from buying a home right now is the crazy market we’re in.

Here are the most common reasons why they may be having trouble in this market. 
1.Low inventory
2.Unqualified credit
3.Unsure of the buying process
4.Need to sell before they buy

Unfortunately, to overcome all of these obstacles you almost need to be everywhere at once, and you need to know how to navigate through the mayhem of everyone else working to get the same home you are. 

It’s not fair, and if you're alone, it’s not fun, but I think I can help.

I’m Michael with The Michael O’Neal Group and we specialize in helping dozens of buyers in and around Houston purchase a home even in the crazy market we’re in today. Want a personal home buying strategy session and find out exactly what it takes to find a home, and put in a winning offer? Click below to schedule a free home buying strategy session. 

P.S. In the l ...