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Houston Inside Out

Houston Inside Out

By James Jay Barnes

Welcome to Houston Inside Out! We interview real estate professionals, local business owners and special guests from right here in the Houston community. This is where you get the inside scoop about what's new in real estate, new community openings and business openings and much more.
Currently playing episode

019 What Are Lender Points? With James Jay

Houston Inside OutJan 19, 2019

00:00
05:25
 First-time homebuyer series Ep. 1 || How much down payment do I need?

First-time homebuyer series Ep. 1 || How much down payment do I need?

The number one thing that prevents people from pursuing homeownership is the down payment. There are a lot of myths around how much down payment is required and we will address that and dispel some of the myths out there.

May 27, 202106:15
057 - Planning For Your Zenith Year With S.A SOLA (Part 2 of 4)
Jan 29, 202011:30
056 - Planning For Your Zenith Year With S.A SOLA (Part 1 of 4)
Jan 02, 202010:32
055 - Your Closing Date Will Affect Your Closing Costs With James Jay
May 10, 201906:58
054 - Mental Fitness and Real Estate Talk

054 - Mental Fitness and Real Estate Talk

In today’s episode, Casey Ingram, a personal trainer for 16 years and an independent real estate agent with Keller Williams, joins James J and they talk about having that mindset that you get from being in the fitness industry and how it relates to the real estate market.

Join us and be inspired as we learn more about it!

 

QUOTES

“The objective is keeping them somewhat on the straight and narrow in order to get them to a certain point that they’d become more self-sufficient as time pass.”

“In the real estate world, everything is take care of everything immediately. ”

“It’s all about trust and it’s all about professionalism.”

“I’m never going to seek out so much business and I’m overwhelmed then I become a bad agent.”

“If you take great care of people, people will take great care of you.”

“You reputation will ultimately determine how well you do.”

“The average person we deal with nowadays deals with a lot of psychological stress with very little physical outlet.”

“Exercise will regulate your pattern.”

“The brain is not wired to push the body, the brain is wired to survive.”

“Progress is hard, maintenance is simple.”


MENTIONS


SHOW NOTES

  • [0:02:08.0] Casey Ingrams’ background
  • [0:06:47.0] Why people still prefer to get help from someone
  • [0:09:50.0] Similarity between the fitness industry and real estate
  • [0:15:59.0] You want to know your area
  • [0:17:25.0] Changes in the business as the interest rate went down
  • [0:21:18.0] The confidence and discipline that’s built by working out
  • [0:28:09.0] It’s all about having good relationships
  • [0:32:10.0] Just like any industry, there’s a lot of work behind it


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Apr 29, 201936:33
053 - Interest rate locks  With James Jay

053 - Interest rate locks With James Jay

In today’s episode, James will be talking about locking in your interest rate. Not as easy as it sounds but it is very important.

Tune in now and get tips on how and when to do it!


QUOTES

“Offering an actual rate lock cost the lender money when that happens. ”

“By committing funds to lend to you, the lender is unable to use it for anything else until your loan actually closes.”

“Ultimately it is the buyer’s responsibility to lock in interest rate.”


MENTIONS


SHOW NOTES

  • [0:01:15.0] What an “interest rate lock” is
  • [0:01:50.0] How to lock it for a longer period of time
  • [0:02:06.0] What happens to the fund when it’s locked in
  • [0:02:59.0] Things could happen to stop the process
  • [0:03:35.0] When should you lock in your mortgage rate?



If you like this podcast, please do not forget to like, share, or comment! We appreciate your support and feedback!

Apr 26, 201905:20
052 - Amortization With James Jay
Apr 24, 201907:53
051 - Looking to Upgrade Your Current Home? Now’s the Time to Move-Up! With James Jay
Apr 22, 201909:29
050 - Interest Rates of 17%? Say What? With James Jay

050 - Interest Rates of 17%? Say What? With James Jay

Welcome to this episode where we are talking about interest rates. Learn some historical contents, some recent rates and know when to perfectly lock it in.


So tune in, listen and learn!



QUOTES

“Rates obviously fluctuate.”

“Interest rates play a big factor in your monthly payment.”


MENTIONS

  • myhoustoninsideout.com
  • Phone number: 832-271-1708, Houston Inside Out

 

SHOW NOTES

  • [00:01:53] Interest rates have gone down
  • [00:02:38] The market is heating up
  • [00:03:49] Historical perspective in mortgages
  • [00:07:09] Recent history on rates
  • [00:09:27] Interest rates fluctuate


If you like this podcast, please do not forget to like, share, or comment! We appreciate your support and feedback!

Apr 19, 201911:58
049 - 7 Things To Avoid After Applying for a Mortgage! With James Jay

049 - 7 Things To Avoid After Applying for a Mortgage! With James Jay

Welcome to this episode of Houston Inside Out where we are going to talk about “7 Things To Avoid After Applying for a Mortgage”. A lot of people have a misconception about what happens after being initially approved for the loan. Learn very important points especially when you are building a home or even when purchasing a home that is already done.


Make sure to listen and know more about it!



MENTIONS

  • myhoustoninsodeout.com

 

SHOW NOTES

  • [00:00:25] #1 - Don't change jobs or the way you're getting paid.
  • [00:04:33] #2 - Don't deposit cash into you bank accounts.
  • [00:06:09] #3 - Don't make any large purchases.
  • [00:08:01] #4 - Don't co-sign for other people.
  • [00:09:10] #5 - Don't change bank accounts.
  • [00:10:00] #6 - Don't apply for new credit.
  • [00:10:40] #7 - Don't close accounts.



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Apr 17, 201914:05
048 - What Is This Fee For Military Veterans Watch This if Your Buying a Home!

048 - What Is This Fee For Military Veterans Watch This if Your Buying a Home!

VA loans have a unique combination of features not found with other loan programs. Because a portion of each loan is guaranteed by the VA for the lenders, they can offer more favorable terms. Whether you’re buying your first home, needing more space for your growing family, or downsizing as an empty nester, the VA homebuying benefit can be used over and over. It’s possible to restore entitlement from a prior loan and use it again, making VA loans a benefit for life.


So, what is this fee for military veterans? Listen to this episode as we give you some calculation to understand why there's a fee for VA.



If you have more questions, reach out head over to myhoustoninsideout.com



If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!



Apr 11, 201907:23
047 - Credit Restoration Talk With Teresa and Randy Parasiliti
Apr 09, 201939:27
046 - What Happens At Closing With James Jay

046 - What Happens At Closing With James Jay

Today we're talking about what happens at the closing of your home.  


During closing, ownership of a property is transferred from the seller to the buyer. The escrow company distributes all funds, and the new deed is registered in the buyer's name. The buyer also has to bring a check for all of the mortgage and title fees accumulated along the way.



Quotes:


"Try And Get This Stuff Done."


Shownotes:


(01:32) There Are Things That Arise As You're At The Actual Closing Table. 

(04:54) Get The Documents Ahead Of Time.

(08:02) Company Will Give You The Check For Whatever You Paid Over. 


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!


Apr 06, 201909:58
045 -Credit Scores And What To Know With James Jay

045 -Credit Scores And What To Know With James Jay

Credit scores are calculated using the information on your credit reports, which includes details of your credit accounts, how often you apply for credit, debt collection accounts and some public records, among other things.


Quote:


"85% Of Americans Have A Credit Score That Will Enable Them To Get Into A Home. "


Shownotes:


(01:16) They don't educate us.

(02:15) No more renting. 

(07:05) Order a credit report right now. 


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!




Apr 04, 201911:09
044 - Things To Avoid When Moving With James Jay

044 - Things To Avoid When Moving With James Jay

Moving to a new home can be intensely stressful and throw your life into chaos.


So in this episode, we are going to share some things you need to avoid when moving. 


Stay tuned! :)


Quote: 


"Moving Is The Ideal Time To Get Rid Of Things You No Longer Need. "


Shownotes:


(02:22) Scheduling Stuff

(06:48) Skipping The Purge


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!





Apr 02, 201911:28
043 - Slap the $h_t out of renting in 2019 With James Jay

043 - Slap the $h_t out of renting in 2019 With James Jay

No more renting. If you want to make money slapping somebody in the face, you can make money by slapping your landlord in the face and go get your own home. That's how you make money. Stop making your landlord rich. 


Quote:


"You Want To Be Proactive If You Are Looking At Getting Into A Home This Year."


Shownotes:


(00:45) We Are Getting Into Credit Scores. 

(02:13) No ore renting.

(05:06) Max Credit Score.

(07:35) Wrong Information On Credit Report Side.


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!





Mar 30, 201910:58
042 - Interest Rates Hit New 12 Month Low! With James Jay

042 - Interest Rates Hit New 12 Month Low! With James Jay

According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018!


Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low.


If you plan on buying a home this spring, contact us, we can help prepare you for today’s market before rates increase!


Quote:

"Mortgage Rates Fell For The Third Consecutive Week"


Shownotes:


(00:57) Interest Rates.

(02:27) Mortgage Rates Fell For The Third Consecutive Week.


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!

Mar 28, 201904:36
041 - Do 46 Million Millennials Know They Are Mortgage Ready? With James Jay

041 - Do 46 Million Millennials Know They Are Mortgage Ready? With James Jay

A lot of people don't know that they are eligible for a mortgage. So today, we are going to dive in specifically to millennials to talk about some of the misconceptions.


Quote: 


"They've Got The Credit, All The Necessary Items And Necessary Criteria To Be Able To Own A Home. "


Shownotes: 


(00:33) Millennial Talk.

(01:51) Millennial Generation Is Growing Up In An Age Where They Can Make Money At A Much Earlier Age.

(03:18) Estimated Number Five Million Millennials That Are Going To Turn 30 In The Next Two Years.

(05:03)They've Got The Credit, All The Necessary Items And Necessary Criteria To Be Able To Own A Home.

(07:45) Some People Don't Change When Things Change. 


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!


Mar 26, 201908:50
040 - What You Must Have To Apply For A Mortgage With James Jay

040 - What You Must Have To Apply For A Mortgage With James Jay

A mortgage application can be complicated and requires several documents but as a minimum, you will need to provide some identification.


There are a few things you need to have ready before you apply for a mortgage, and we are going to share those things with you in this episode, so stay tuned.


Quote:


There Is A Balance Between Giving Information And Giving Too Much Information.


Shownotes:


(01:05) You Could Get A Mortgage Without Having A Job.

(04:01) Make Sure You Are Providing Enough Documentation.

(05:51) Have At Least The Last Two Months Of Bank Statements.

(08:13) Two Years Of Residency.


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!


Mar 22, 201909:50
039 - 4 Reasons To Buy A Home This Spring With James Jay

039 - 4 Reasons To Buy A Home This Spring With James Jay

Right now we're at a great time to get a lower interest rate.  You'll be able to make sure you're getting the most bang for your mortgage buck right and right now is an opportune time to do it.  If you are looking at getting into one home in 2019, I think you are right on the money doing it now as we're entering the spring season and as we start getting hotter and hotter in the market in April and May and then really burning through the summer. This is a great time to get into a home and make the most and get the most for your mortgage.


Show Notes:


(00:22) Houston Inside Out show introduction.

(01:21) It's time to buy a home now this 2019 because of low interest rates.

(02:29) A Core Logic report states that prices will increases at a rate of 4.6 percent next. year.  Home values will continue to appreciate as we move forward in 2019 and into 2020 and moving forward.

(03:25) Interest rates are going to come up this year so you have to take advantage of your buying power right now.

(04:22) If you're renting you're still paying mortgage either way.  The only time you're not paying mortgage is if you're living with your parents

(05:20) Renters have the opportunity to buy homes because of low interest rates.

(06:19) Labor shortages, supplies and construction plays a big role in building and buying a home and that’s one of the reason prices go up.

(07:17) We are here to help you with any questions on mortgage, home listing and many more just reach out and check out myhoustoninsideout.com.


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!


Mar 15, 201908:08
038 - Skip The Spouse, Buy The House With James Jay

038 - Skip The Spouse, Buy The House With James Jay

For both men and women, buying a home on your own by yourself requires more financial independence than does buy with the support of a partner. 


In this episode we are going to share the impact of buying a house with a woman.


Quote:


"A women purchasing homes at a greater flip than single men do."


Shownotes:


[00:37] Bloomberg Article.

[02:08] Women Are More Responsible.

[05:45] It's Going To Be A Little More Easier To Purchase When You've Got Another Person.

[07:20] Homeownership Is Definitely Something You Want To Seek Out.


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!

Mar 08, 201908:13
037 - What Is An Appraisal? With James Jay

037 - What Is An Appraisal? With James Jay

In this episode, we talk about an appraisal. An appraisal is an important part of the home buying process. Lenders require appraisals when buyers use their new homes as security for their mortgages. So stay tuned as we more about appraisals.



"You also have an income approach as far as the appraisal goes."


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!

Mar 02, 201915:20
036 - Negotiation With James Jay

036 - Negotiation With James Jay

Negotiation, the things that you can negotiate during the contract phase if you are a buyer and a seller. As a home seller, you want to close as soon as possible and as a seller, you want to get your households as quickly as possible.


In this episode, we discussed the five most important things for negotiation.


Stay Tuned :)


Quote:


"Once You Start Getting Into A Higher Price Point Maybe Not Necessarily The Case With Buyers Asking For Closing Costs."



If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!

Feb 28, 201912:36
035 - Have you ever thought about DOWNSIZING With James Jay

035 - Have you ever thought about DOWNSIZING With James Jay

Maybe you’re tired of cleaning a large home every weekend. Maybe the cost of maintenance and upkeep on your current home is steadily rising. But perhaps you’re starting to think hard about why exactly you are living in a home as large as your current one.


Here are the things you have to remember when downsizing your home.


Stay Tuned :)


Quote: 


"Decide What You're Going To Pack, What Are You Going To Take And What Are You Going To Leave"



If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!

Feb 26, 201909:22
034 - Thinking Of Buying Investment Property With James Jay

034 - Thinking Of Buying Investment Property With James Jay

When it comes to property investment, regardless of the type of property you are going to purchase, investing in real estate requires a good amount of cash. 


But perhaps more important are the pitfalls to avoid so you don’t become a statistic of the property game.


To help you out, I’m going to share with you a basic things to consider when buying an investment property.


Quote:


"Do Your Research On The Property You Are Going To Invest In."


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!



Feb 23, 201914:52
033 - Insurance Talk With Steven Smith
Feb 21, 201927:27
032 - Content Marketing for Realtors and Businesses With Nick Krempasky

032 - Content Marketing for Realtors and Businesses With Nick Krempasky

Content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience — and, ultimately, to drive profitable customer action. Nick is an expert and you will want to take notes on this one!


Contact Nick:


https://www.nickkrempasky.com



If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!

Feb 19, 201930:14
031 -  Price Is Right With James Jay

031 - Price Is Right With James Jay

What we need to know about the right pricing as it relates to your home and selling your home this year.


You do not want to give buyers a perception that something is wrong with your house by pricing it high and then waiting too long to reduce your price. If you start off and price it right from the beginning, you're going to be a much better situation. It's really important that you find a marketing plan or realtor that has an actual market marketing plan.


Quote:


"You can price your home higher and you can bring it down."


Time Notes:


[01:12] You Don't Get A Second Shot On The Price Is Right.


[02:35] You Can Price Your Home Higher And You Can Bring It Down.


[03:25] Perception Is Reality. It Doesn't Matter What Your House Is.


[04:11] Being As Aggressive With Pricing Your Home As We Were Before Is Probably Not The Best Strategy For 2019.


[05:15] Over The Last Six Months, More Inventory Has Actually Come On The Market While The Months Of Supply Of Inventory Available Has Actually Dropped.


[06:12] Owning A Home Is Much Better Than Renting.


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!



Feb 16, 201907:55
030 - What Will It Cost You If You Wait 1 Year To Purchase A Home With James Jay

030 - What Will It Cost You If You Wait 1 Year To Purchase A Home With James Jay

In this episode, we decide whether it's good to buy a home right away or should we wait the next year. I recommend that you buy now because the interest rates are low hence you're going to pay less for the home that you want. If you wait next year there may be a tendency that the interest rates go up and you end up paying more and losing more money. So I emphasize that you buy now to get ahead and get your money's worth.


Quote:

"If you're thinking of buying a home the time is now."


Timenotes:


[00:41] Should You Buy Now Or Should You Wait Until Next Year?


[01:58] One Year Rates Are Projected To Increase According To All The Experts.


04:35] The Difference In Your Mortgage Payment From One Year To The Next.


[05:15] Something to consider If you are on the fence about buying a home.


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!




Feb 14, 201906:12
029 - Need Some Financial Help Buying Your Next Home? Lender And Seller Credits Might Be The Answer!

029 - Need Some Financial Help Buying Your Next Home? Lender And Seller Credits Might Be The Answer!

Lender credit and seller credit that is something to consider when buying your next home and your mortgage partner can help you with that. But it's always nice to have a relationship with the person that you're dealing with versus just dealing with somebody online.


Quote:

"Time is about to start heating up for buying and selling. "



Shownotes:


[02:28] If You're Putting Out 25% Or More You're Going To Be Able To Get A Little Bit More Contribution.


[03:04] Take A Look At txmortgagemoney.com. There's Some Resources There And We Can Help You With Getting Through And Navigate In This Because A Lot Of This Stuff Is A Little Confusing.


[03:23] The Higher The Contributions, The Higher The Down Payment.


[04:28] Maybe It's A Good Opportunity To Negotiate A Little Bit More From A Seller As We Head Into Spring And Summer.


[05:08] They Are In The Business Of Making Money.


[6:01] The Lenders Need To Price Both The Rates And The Fees Appropriately.


[07:00] The Higher The Interest Rates, That's The Lender Charges.


[07:45] If It is Higher Interest Rate, It's A Little Bit More Appealing To Investors To Invest In A Mortgage Backed Security.


[08:24] The Buyer Obviously Is Going To Want Something In Return.


[10:13] We Can Help You, txmortgagemoney.com. If You've Got A Question About This, Reach Out To Us.



If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!


Feb 12, 201910:21
028 - How to make your home more lovable to sell? With James Jay

028 - How to make your home more lovable to sell? With James Jay

In this episode, we are talking about how to make your home appeal to as many buyers as possible. If you are thinking of selling your home, there are different things that you can do to make it more appealing.


We are going to give you a few tips or some things that you can do to help prepare your home as you get ready to sell it.


Quote:

"First impression is everything"


Shownotes:


[01:33] Few Tips That You Can Do To Help Prepare Your Home


[02:36] The Floating Vanities Is Something That's Pretty Prevalent Now.


[03:36] It Doesn't Have To Be A Real High End Upgrade.


[05:04] In The Bathroom.


[06:06] Minor Things That You Can Do To Make A Major Difference In The Sale Of Your Home.


[06:58] When It's Time To Resell, You Really Got To Remember First Impression Is Everything.


[09:05] You Don't Have To Go Spend A Ton Of Money, But Something To Consider.


[09:42] The Front Of Your Home.


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!






Feb 09, 201911:19
027 -  How does a more expensive home costs less? With James Jay

027 - How does a more expensive home costs less? With James Jay

When does a more expensive home cost less?


In episode, we talk about why purchasing a more expensive home in an urban neighbourhood could actually wind up costing you less than a home with a smaller price tag in the suburbs.


Quote:


"All things to consider in the cost of living from where you work versus where you live."


Shownotes:


[01:40] The Reason Why Does A More Expensive Home Cost Less?


[03:26] You've Got Typically Two Cars That Are Going To Be Needed.


[04:25] The Pros And Cons Of Urban Versus Suburban Living.


[05:30] New York City Lifestyle.


[06:40] Some of the condos in the city of Houston, are way more expensive than owning a home out in the suburbs.


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!

Feb 07, 201907:22
026 -  Multi Family Real Estate Investment Talk With Hector Padilla
Feb 05, 201901:03:59
025 - Is the Recent Dip in Interest Rates Here to Stay With James Jay

025 - Is the Recent Dip in Interest Rates Here to Stay With James Jay

The market is liquid the past couple of weeks, the question we've heard a lot is, will these dips continue to stay around? In this episode, we are going to answer your question about the interest rates. 


Shownotes: 


[01:32] Freddie Mac's Chief Economist, Sam Carter, notes that mortgage rates declining at the start of this year.

[02:44] This would be a good time to get back into the game.

[03:47] Maximize your buying power during this year. 


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!



Feb 02, 201905:23
024 - Tips To Maximize The Sale of Your Home With James Jay

024 - Tips To Maximize The Sale of Your Home With James Jay

How can you get the most money for the sale of your home? Listen to this episode as we are sharing two things you can do to maximize the value of your home.


Quote:


"Real estate agents are everywhere. Everybody's has got a real estate agent but here's very few real estate professionals"


Shownotes:


[00:00:49]  How can you get the most money for the sale of your home?


[01:31] Every single homeowner wants to make sure they maximize their financial reward when they're selling their home.


[02:45] You are competing with what everybody else is doing because everyone else is doing the same thing.


[03:43] You price your home a little low.


[04:43] You're going to find yourself relying only on the trickle of new buyers entering the market each day.


[05:40] The second tip is to use a real estate professional.


[06:39] Do they (Real Estate Professional)have a marketing plan? Is there's a strategy? Hope is not a strategy.


[07:52] If you're a seller looking to sell your home this spring, reach out to us. If you just want some friendly advice, We'd be glad to offer that to you.


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!








Jan 30, 201908:49
023 - Entrepreneurship Talk With S.A. Sola

023 - Entrepreneurship Talk With S.A. Sola

In this episode, we have Sola Okunoren also know as S.A. Sola. We talk about how to be a successful entrepreneur. Sola is a perfumer and former bank executive. He narrates how he became a successful entrepreneur. So please listen and enjoy our show.


"You only fail when you stop trying"


Instagram: nostalgiacollection


Facebook: The Nostalgia Collection


00:00 Show introduction 


00:51 James Jay introduces his guest who is a perfumer.


01:45 Starting back into Sola's journey from the banking days


[02:34] Sola started trying to sell it our sales back in the day. 


[03:20] Sola states making great money, things are great, but then you hit that, you hit that was really, and that ceiling could be anything from the amount that you make yearly or it could be from a promotional standpoint.


05:58 Sola states that you got to just burn the bridges.


07:50 Same thing with business you've got to put it in perspective.


11:07 Sola emphasizes the importance of learning and learning is paramount in everything whether it be entrepreneurship, whether it be getting a job, you have to take you out to learn something from that situation.


17:52 Sola also says that he learned that now it's all, everything's done in bulk, in huge quantities.


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!

Jan 29, 201949:42
022 - When Is The Best Time To Sell Your Home With James Jay

022 - When Is The Best Time To Sell Your Home With James Jay

What are the things to consider on when is the best time to sell your home?  


Quotes:


"You know when the best time really to sell your home was when there was less competition, which right now there's not as much competition as you're going to experience if you wait until you get to the springtime."


Shownotes:


 [00:04] The best time to sell your home is right now and I'm going to give you some reasons to really consider putting your home on the market now.


[01:02] the market is going to slowly start heating up as we get closer and closer to the spring. And then, of course, a summertime, their fuel purchases in the market than there were last month.


[01:57] Mark Fleming, who is the chief economist, said the biggest challenge is really the availability of supply


[03:03] The National Association of Realtors is saying that the number of home sales has actually decreased over the last five months. So the best time to list your house might be right now.


[03:59] So it may make sense if you're in a position to do it before everyone starts putting their home on the market in the springtime


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!

 


Jan 26, 201905:07
021 - How Do Jumbo Loans Work With James Jay

021 - How Do Jumbo Loans Work With James Jay

What you need to know about jumbo loans.



Quotes:


One thing to keep in mind about jumbo loans unlike traditional mortgages typically jumbo loans isn't sold. The bottom line is we're trying to get the loan amount under that $453,000 threshold as not to be in the jumbo loan criteria.


Shownotes:


00:38 Houston Home Talk show introduction.


00:05 A jumbo loan is a specific product. As of January 1st of 2018, a jumbo loan was considered a mortgage loan of $453,100 or higher


01:53 Pricing on non-jumbo loans is typically a little bit better, meaning the interest rates are a little bit lower typically.


02:37 San Francisco, a lot of places out in California, the FHA agency has identified a lot of these high priced areas. These are places where. The costs of real estate are just through the roof. They make some exceptions with certain states and certain cities to where their loan limits are going to be a little bit higher


03:12 We are in a state, in the state of Texas where real estate is relatively inexpensive as it compares to a lot of other major cities, which is why Houston, Austin, San Antonio, Dallas are typically always on the top 10 or so places to live for the cost of living


04:21 The only thing that may matter is if they're servicing the loan, the lender could be a little more creative with their loan programs because they're servicing it. Typically with jumbo loans, they do not get sold off, typically.


05:23 Depending on the loan amount and the terms that the jumbo loan lender is offering, it may also be wise for you to explore other options since jumbo rates are typically higher than those on traditional mortgages.


06:32 Jumbo loans, oftentimes people have 20 percent. It's not necessarily a requirement to have 20 percent. But in any mortgage situations the more you put down the better. 



07:20 Keep in mind that lenders of the first mortgage have to approve any subsequent mortgages.


08:40 Keep in mind the lender of the first mortgage has to approve any subsequent mortgages that you as a buyer may want to take out because the risk of default for the first mortgage will be higher once the second is added


09:05 It's super important guys that all the options be explored with your lender. If you've got a great lender, they will be able to break this down for you and see which way they can save you the most money.


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Jan 24, 201910:33
020 Annual Percentage Rate VS Interest Rate With James Jay

020 Annual Percentage Rate VS Interest Rate With James Jay

What you need to know about the difference between an annual percentage rate and interest rate 



Quotes:


"Look at the overall loan. The interest rate is absolutely important. A lot of lenders will make it look much better than it is by having a lower rate if they know they're competing, but then you look at the annual percentage rate which most people do not pay attention to and they're charging a whole lot more fees to get the same type of loan."


Show Notes:


00:00 Houston Inside Out show introduction.


00:20 We're going to clear up the difference between annual percentage rate versus interest rate. 


01:34 ] It's required by law to put the annual percentage rate. We're going to focus specifically on a mortgage loan and how the annual percentage rate differs from an interest rate. All the costs that are associated with that loan are calculated into what is called the annual percentage rate., 


02:40 The annual percentage rate, that is what separates lenders. It's what separates loan products


03:45 A point is nothing but a percent. That's it. When you hear these terms, two points, three points, four, it's just a percentage of the loan amount.


04:55 There's a fee involved with the closing that the lender and the title company charges. However, depending on the source of the money, you may have to pay some taxes as it relates to where that money is coming from.


05:55 Just be sure that you're not just focusing on the interest rate as a lot of people tend to do.


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Jan 21, 201907:00
019 What Are Lender Points? With James Jay

019 What Are Lender Points? With James Jay

The things you need to know about lender points.


Quotes:


"As you consider your loan options, you really need to look at your long term ownership plan as well as your willingness to actually pay points and that will really help you determine the best strategies so you can consult with a mortgage professional on this and they can give you some scenarios to look at."


Show Notes:  


[00:03] We're talking lender points. These are mortgage points. What are they in? Should you pay them?


[01:01] Lenders make money on loans in basically two ways. One is via the interest rate they charge. The higher the interest rate, the more money that they make when they sell the loan after it closes which typically happens. The other way they make money is to charge fees.  


[02:44] It may be okay to pay some points when you start looking at the lower interest rate that you may get and the fact that you're going to be in that home for a longer period of time. Maybe if you're going to be short term in a residence, then paying a point may not be beneficial.


[03:43] Ultimately it's up to you, but that is what the professional is for. It's to give you the advice that you need and then help you make the right decision for yourself.



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Jan 19, 201905:25
018 What Happens To A Mortgage After It Closes? With James Jay

018 What Happens To A Mortgage After It Closes? With James Jay

Things you need to be aware about when your mortgage closes.


Quotes:  


"Ultimately the terms of your mortgage assuming you have a fixed rate mortgage your principal interest do not change."



Show Notes:  


[00:06] Introduction to the Houston inside out show.


[00:20] We are talking mortgages and specifically what happens to your mortgage after you close on your home.


[01:30] Those lenders will actually continue to hold your loan and service your loan meaning they're going to continue to collect payment from you. But what commonly happens is that those loans get sold to an entity and they're going to bundle up several of these mortgages into what's called a mortgage-backed security.


[02:20] The quality of these mortgages is extremely important to these investors so the quality will ensure that the mortgage-backed security retains their value. It is so important that the investors will have forensic audits completed on the mortgages that they purchase.



[03:28] Lenders basically turn around and depending on the credit scores, they're going to assign that mortgage-backed security a grade. This is very important to investors because of the lower the grade, the higher the risk. Lenders do not want to buy back a loan.


[04:39] It's a little more challenging to get a loan but it's ultimately to protect everybody involved. That is the buyer, that is the lender, that is the investor, very, very important that the quality of these mortgage-backed securities is much higher than it used to be.


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Jan 16, 201906:17
017 Two Factors To Watch In Todays Real Estate Market With James Jay

017 Two Factors To Watch In Todays Real Estate Market With James Jay


In this episode of Houston Inside Out we are going to discuss a couple of factors to watch in today's real estate market whether you are buying or selling a home



Quotes:

"There are many factors that you should definitely consider, where you want to live, why you want to buy or sell, who is going to help you with your journey. Now, when it comes to today's market though, the two top factors for sure are interest rates and inventory."



Show Notes:


[00:35] Factors to consider in today's real estate market whether you are buying or selling a home,


[01:33] Purchasing power is just simply the amount of home that you can afford to buy for the budget you have available to spend. Now as rates increase, again you're buying power will decrease.


[02:38] According to the National Association of Realtors Listing Inventory is currently at about a 4.3 months supply, which has put upward pressure on a lot of the home prices, so home prices have increased year over year for the last 78 straight months


[03:39] The inventory of homes for sale in the real estate market has been on a steady decline and experienced year over a year dropped for 36 straight months.



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Jan 14, 201905:09
016 - Why Include Taxes In Your Mortgage Payment With James Jay

016 - Why Include Taxes In Your Mortgage Payment With James Jay

In this episode of Houston Inside Out we discuss the importance of escrowing your taxes and your insurance.


Quotes:


"Overall I recommend people to pay the taxes and insurance monthly in the form of an escrow account.''


Show Notes:


[00:03] Introduction to Houston Home Talk.

[00:37] The importance of escrowing your taxes and your insurance. He discusses that some people like to pay their taxes on their own and some use an escrow account to pay their taxes.

[02:14] A deeper in discussing the benefits of having to pay taxes and insurance using an escrow account.

[03:10] Explanation that there is less risk on the lender in a conventional loan if you decide to pay your taxes and insurance on escrow.

[04:16] Explanation that lenders are all about risk. He discusses further the advantages of having an escrow account and the advantage of paying taxes and insurance on escrow.

[05:19] What FHA loans are, what are the requirements and the variation between mortgage insurance and property insurance.

[07:37] What a lender wants and do not want. He emphasizes to talk to a reputable lender so they can assist us with answering questions as it relates to waiving escrows, what the extra costs may be, and if there's a way for you to waive escrows without incurring any additional fees and the need to discuss it also with the lender. He also highly recommends paying tax and insurance monthly in the form of an escrow account. He also invites us to visit his website houstonhometalk.com for any concerns and questions about escrow.



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Jan 11, 201910:50
015 Option Periods Talk with James Jay

015 Option Periods Talk with James Jay

James Jay talks about option periods as it relates to a purchase agreement that is you purchasing a resale home. He goes in to explain the importance of having an option period. He also discusses the importance of hiring an inspector to go out to the property to do a full inspection of the property from top to bottom.



Quotes:


"Option periods are something that is negotiated between a buyer and a seller, but it is a very, very important clause in a residential contract."


Show notes:  


[00:01] Introduction to Houston Home Talk.


[00:35] James Jay introduces the topic of the show which is option periods. He discusses the importance of having option periods before buying a home. He discusses the importance of having a home inspected before buying a home or a property.


[01:46] James Jay talks about hiring an inspector to inspect the property before purchasing. He also discusses the duration of an option period.  


[02:52] James Jay dives in deeper to talk about what an options money is and the amount and what its used for.  


[04:21] James Jay emphasizes that during that option period, you have the right to walk away for whatever reason you choose.


[05:17] James Jay explains that we have to keep in mind that if you decide to walk away during the option period that we lose the option money. He also adds that it is okay to lose option money rather than getting into a complicated situation with the home. 


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Jan 09, 201908:09
014- How Your Credit Score Calculated With James Jay

014- How Your Credit Score Calculated With James Jay

James Jay Discusses how the credit score is calculated and the three credit bureaus that maintain credit records. There are TransUnion, Equifax, and Experian. Any nonpayment is immediately reported to these bureaus and reflected in your credit report. He also explains that the longer the credit history, the better this reflects on your score. 



Quotes:


"The credit score is based on a credit report which is a detailed account of our credit history of borrowing, repayment and credit inquiries. The bottom line is to keep your balance low and make your payment on time."



Show notes:


[00:00] James Jay introduces the topic which is how credit scores are calculated.


[00:11] Introduction to Houston Home Talk.


[00:48] James Jay talks about credit scores and how they are calculated. He continues to say that credit score is based off a credit report which is calculated through a detailed account of our credit history, of borrowing, repayment and credit inquiries


[02:31] James Jay also mentions the three prominent credit bureaus which are TransUnion, Equifax, and Experian


[03:04] James Jay explains that a credit score is calculated by a special type of software from Fair Isaac Corporation Company. He also explains the components of a credit score.


[04:48] James Jay emphasizes the need for a credit score in buying a home and he explains how to look for alternative lines of credit.


[06:15] James Jay discusses the types of credit and he discusses the range of the credit score and the credit scoring range.


[07:16] James Jay emphasizes the importance of improving credit scores. He also emphasizes to make balances low and make the payments on time. He also invites the people listening to visit his website at myhoustoninsideout.com (new website).


If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback!











Jan 07, 201909:15
013 Fixed Or Adjustable Rate Mortgage With James Jay

013 Fixed Or Adjustable Rate Mortgage With James Jay

James Jay talks about the difference between fixed rate mortgage and adjustable rate mortgage.  The fixed rate mortgage and adjustable rate mortgage are both important depending upon the market and your financial expectations, each option will actually provide different benefits and drawbacks.


Quotes


"Choosing between fixed rate mortgage and adjustable rate mortgage of loans just depends on your individual situation and the interest rate that's going on at that time."


Show Notes


[00:03] Introduction of fixed rate mortgage and adjustable rate mortgage.


[00:15] Show Introduction.


[00:49] James Jay explains the benefits of using adjustable mortgage rates up until 2008 when fixed rate mortgage have  higher rates. He advices that if you know you're only going to be somewhere short term. You are typically rewarded with a smaller interest rate and that is really the major benefit of having an adjustable rate mortgage.


[02:30] James Jay now explains the benefits of using fixed rate mortgage.   He further discusses that fixed rate mortgages are controlled mortgages and easy to maintain and administer because of a lot of these factors.  These are definitely the most popular loan types for first time home purchases as well as second or third or fourth time purchases for that matter.


[03:53] James Jay compares and contrasts fixed rate mortgage and adjustable rate mortgage.  He goes on to say that adjustable mortgages are generally cheaper and result in savings when rates do fall.  He also adds that fixed mortgages come with higher rates.


[05:13] James Jay goes in deeper to discuss fixed rate mortgage.  He emphasizes to the importance of being prepared when it comes time to refinance.  James Jay also advises to pay attention to where you are with your mortgage, whether it be three years, five years or longer, and know what your plan is to either refinance it and pay that one off or sell the home or be okay with what the rate adjusts to


[06:07] James Jay concludes by emphasizing the importance of choosing between fixed rate mortgage and adjustable rate mortgage.  He also emphasizes that it just depends on your individual situation and the interest rate that's going on at that time. And that it is important to reach out to a lender or to contact James Jay to make a sound and informed decision.  So if you have any questions you can visit his website at myhoustoninsideout.com


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Jan 04, 201907:29
012 Home Inspection Talk With James Jay

012 Home Inspection Talk With James Jay

James Jay talks about the importance of a home inspector and the benefits of hiring a home inspector. James explains what a home inspector does and the advantages of hiring a home inspector like a detailed examination of all the major systems of a property. This includes plumbing, electrical, heating, cooling systems, as well as the structural integrity of a property, radon gas, mold, termite detection.


Quotes:


"A home inspector is trained specifically to go through a home and detect all kinds of issues that you and your realtor are not qualified to do."


Show notes


[00:36] James Jay introduces the topic, the importance of hiring a home inspector.


[01:20] James Jay discusses what a home inspector does and what a home inspector look for at a home they inspect.


[02:29] James Jay explains that the home inspector looks at the property in greater detail and effectively educates you on the condition of your home which is important in buying a home. And emphasize that the purchase contract has conditions in which certain properties and situations where you can back out of an agreement. He also explains that in some cases you don't have an option period where you can just back off for whatever reason you choose.


[03:58] James Jay talks about significant issues after the option period and that the buyer is still obligated to purchase the property. He also emphasizes that home inspection is very, very important.


[05:10] James Jay advised that seller may be unaware or unwilling to share details regarding the condition of the home, so if an inspection uncovers a significant issue within the option period the buyer can renegotiate or you can walk away.


[06:05] James Jay concludes by emphasizing the importance of a home inspector and that it gives the buyer peace of mind in buying home. He also invites people to visit his website at myhoustoninsideout.com


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Jan 02, 201906:59
011 How To Maintain Credit After We Are Approved Of A Loan With James Jay

011 How To Maintain Credit After We Are Approved Of A Loan With James Jay

James Jay talks about getting into credit and how to maintain credit after we are approved of a loan. He tells us not to make unnecessary purchases while a loan is still in the pre-approved stage, for example, buying furniture because this might jeopardize our credit score which would also jeopardize the loan approval process.


QUOTES:

" Be very, very careful once you are initially approved for a loan. Do not make any new purchases."



Show notes:


[00:39] How to maintain credibility when a loan is approved and not to make unnecessary or new purchases.


[02:19] Always maintain a low debt to income ratio for a loan to be approved immediately and not buying furniture for a home which is not yet loan approved.


[03:51] It is important to maintain a high credit score and to wait for the approval of the loan before buying or making unnecessary purchases to avoid any problems.


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Jan 01, 201907:00
010 Houston Market 2019 Overview With James Jay

010 Houston Market 2019 Overview With James Jay

James talks about projections for the city of Houston for 2019 relocating to Houston and relocating from Houston. He also talks about the population and unemployment rates and the rent and income in Houston as well as fortune 26 to fortune 500 companies. He also talks about the medical care and hospitals and the top of the line cancer care center in Houston. Lastly he talks about oil and gas which could improve in 2019.


QUOTES

"Our economy is still very, very strong and something that we should be proud of and moving into 2019 definitely going to be something that's going to continue to thrive and we will continue to improve in every area."


SHOW NOTES


[00:39] City of Houston, relocating to Houston and relocating from Houston.


[01:48] Home prices in Houston, household income and population in Houston.


[03:04] Monthly rent of Houston compared to monthly rent in other states such as New York, Washington, Boston, San Francisco, Seattle, Minneapolis, and Miami. And the Fortune 500 companies headquartered in Houston namely Conoco, Phillips, marathon oil, Cisco, Apache, Halliburton.


[04:34] The Medical Center in Houston gets heart surgeries and top of the line cancer care center in Houston. Oil and gas business is rather low in Houston right now. 


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Dec 28, 201806:53
009 Why Houses Do Not Sell In A Strong Market With James Jay

009 Why Houses Do Not Sell In A Strong Market With James Jay

In this episode, James is going to share with us the top five reason why houses do not sell in a strong market.  


So don't miss this episode and let's find out his deep insights about it.



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Dec 28, 201813:31