Elzie K Felton Realtor

10/21/2026

🏡 HOMEBUYER EDUCATION SERIES — DAY 38
🚨 YOU SIGNED THE CONTRACT—BUT WHAT IF YOU CHANGE YOUR MIND ABOUT BUYING THE HOUSE?

Many first-time homebuyers believe that once they sign a purchase contract, there's no turning back.

THAT'S NOT ALWAYS TRUE!
In Texas, buyers using the standard resale contract can negotiate an OPTION PERIOD, which provides valuable time to evaluate their purchase.

WHAT IS THE OPTION PERIOD?
It's a negotiated period during which the buyer has an unrestricted right to terminate the contract for any reason, provided the termination option is valid and the buyer follows the contract requirements.

WHY IS IT IMPORTANT?
1. HOME INSPECTIONS
You can have the property inspected and evaluate potential repairs or concerns.
2. PROPERTY CONDITION
Discovering foundation problems, roof damage, or other costly issues may cause you to reconsider your purchase.
3. REPAIR NEGOTIATIONS
You can request repairs, financial concessions, or a price adjustment. However, the seller isn't obligated to agree.

4. DEADLINES MATTER!
Under the standard Texas resale contract, the option period generally expires at 5:00 p.m. Central Time on the final day.
To exercise the termination option, the buyer must provide proper notice before the deadline.

WHAT ABOUT THE OPTION FEE?
The option fee is negotiable and generally nonrefundable if the buyer terminates under the option provision. The Option Fee is typically credited toward the purchase price at closing.

HERE'S MY ADVICE:
Never assume you have unlimited time to make a decision.
Understand your contract, schedule inspections promptly, and communicate concerns early.
THE OPTION PERIOD ISN'T JUST TIME ON A CALENDAR
IT'S AN OPPORTUNITY TO MAKE AN INFORMED DECISION BEFORE MOVING FORWARD.

I turn confusion into clarity, stress into confidence, and houses into homes.
Helping you make informed decisions before you ever sign a contract.

THINKING ABOUT BUYING YOUR FIRST HOME?
Don't wait until you're under contract to learn about the protections and deadlines that could affect your purchase.
Join me at my next First-Time Buyer Survival Workshop, where we discuss contracts, inspections, financing, closing costs, and the decisions every buyer should understand.

Come with questions. Leave with a plan and the confidence to take your next step!
Message me for information about my next workshop.
Elzie K. Felton | REALTOR®Keller Williams Realty – Lone Star
📞 512-906-6659
🌐 ElzieFelton.com

10/20/2026

🏡 HOMEBUYER EDUCATION SERIES — DAY 37
🚨 WHAT HAPPENS IF YOU DISCOVER A MAJOR PROBLEM DURING YOUR HOME INSPECTION?

You found the perfect home.
Your offer was accepted.
Then the inspector discovers a foundation problem, roof damage, or a costly plumbing issue.

NOW WHAT?
DO YOU HAVE TO BUY THE HOUSE?
NOT NECESSARILY!

Here are four options every buyer should understand.
🔧 1. REQUEST REPAIRS
You can ask the seller to address specific problems before closing.
However, the seller isn't automatically required to agree.

💰 2. NEGOTIATE FINANCIAL CONCESSIONS
Instead of making repairs, the seller may agree to contribute toward allowable closing costs, subject to lender requirements.

🏠 3. RENEGOTIATE THE PURCHASE PRICE
If the repairs are substantial, you may negotiate a lower purchase price to account for the property's condition.

📝 4. REVIEW YOUR RIGHT TO TERMINATE
In Texas, buyers using the standard resale contract may have an unrestricted right to terminate during a valid option period, provided they deliver notice before the deadline.
Outside that period, termination rights depend on the contract and circumstances.

HERE'S WHAT I WANT BUYERS TO REMEMBER:
An inspection report doesn't necessarily mean you should walk away.
But it does give you information to help determine whether the property is still the right investment.

NEVER IGNORE A MAJOR PROBLEM SIMPLY BECAUSE YOU'VE FALLEN IN LOVE WITH THE HOUSE!

I turn confusion into clarity, stress into confidence, and houses into homes.
Helping you make informed decisions before you ever sign a contract.

🎓 THINKING ABOUT BUYING YOUR FIRST HOME?
What you don't know about inspections, financing, appraisals, and contract deadlines could become an expensive lesson.
Join me at my next First-Time Buyer Survival Workshop, where we discuss the decisions buyers face before, during, and after purchasing a home.
Don't wait until a problem arises to learn what your options might be!

🏡 Come with questions.
Leave with a plan and the confidence to take your next step!

📩 Message me for information about my next workshop.
Elzie K. Felton | REALTOR®Keller Williams Realty – Lone Star
📞 512-906-6659
🌐 ElzieFelton.com

10/19/2026

🏡 HOMEBUYER EDUCATION SERIES — DAY 36
🚨 YOU OFFERED $350,000 FOR A HOME, BUT THE APPRAISAL CAME BACK AT $335,000. NOW WHAT?
You found the perfect home.
Your offer was accepted.
You're excited about becoming a homeowner.
Then your lender calls with unexpected news.
THE HOME APPRAISED FOR $15,000 LESS THAN YOUR PURCHASE PRICE!
Does that mean the deal is over?
NOT NECESSARILY! Here are four options buyers should understand.

🏠 1. RENEGOTIATE THE PURCHASE PRICE
The seller may agree to reduce the price to the appraised value.

💰 2. PAY THE DIFFERENCE
If you have sufficient funds, you may be able to cover some or all of the appraisal gap.
However, your lender must approve the financing arrangement.

🤝 3. NEGOTIATE A COMPROMISE
The buyer and seller may agree to share the difference.
For example, the seller reduces the price by $7,500, and the buyer covers the remaining $7,500.

📋 4. REVIEW YOUR CONTRACTUAL OPTIONS
Depending on your financing, contract terms, and applicable deadlines, you may have options to challenge the appraisal, renegotiate, or terminate the contract.

HERE'S WHAT MANY BUYERS DON'T REALIZE:
Your lender generally bases the loan calculation on the lower of the purchase price or appraised value.
That means a low appraisal could require you to bring additional money to closing.

HERE'S MY ADVICE:
Before making an offer, understand the property's market value, your financing, and how much additional cash you could comfortably contribute if necessary.

DON'T LET THE EXCITEMENT OF BUYING A HOME OVERSHADOW THE IMPORTANCE OF MAKING AN INFORMED FINANCIAL DECISION.

I turn confusion into clarity, stress into confidence, and houses into homes.
Helping you make informed decisions before you ever sign a contract.

🎓 THINKING ABOUT BUYING YOUR FIRST HOME?
Don't wait until you're under contract to discover what you should have known before making an offer!
Join me at my next First-Time Buyer Survival Workshop, where we discuss financing, inspections, appraisals, closing costs, and the decisions that can protect you throughout the homebuying process.

🏡 Come with questions. Leave with a plan and the confidence to take your next step!
📩 Message me for information about my next workshop.

Elzie K. Felton | REALTOR®Keller Williams Realty – Lone Star
📞 512-906-6659
🌐 ElzieFelton.com

10/18/2026

🏡 HOMEBUYER EDUCATION SERIES — DAY 35
🚨 WHAT IS THE DIFFERENCE BETWEEN A HOME INSPECTION AND AN APPRAISAL?

You found the perfect home.
Your offer was accepted, and now you're moving toward closing.
But here's a question every buyer should understand:

IF THE HOME APPRAISES FOR THE PURCHASE PRICE, DOES THAT MEAN THE HOUSE IS IN GOOD CONDITION?

ABSOLUTELY NOT!
A home inspection and an appraisal serve two very different purposes.

🔍 HOME INSPECTION — FOCUSES ON CONDITION
A licensed home inspector evaluates the homes visible and accessible components, including the roof, foundation, plumbing, electrical, and HVAC systems.
The goal is to help you identify potential problems before completing your purchase.

💰 HOME APPRAISAL — FOCUSES ON VALUE
An appraiser provides an opinion of the property's market value.
For financed purchases, the lender generally requires an appraisal to help determine whether the property provides sufficient collateral for the loan.

HERES WHAT MANY BUYERS DONT REALIZE:
A home can appraise for $350,000 and still have a roof that needs replacement, plumbing problems, or other costly defects.
Likewise, a home may be in excellent condition but appraise below the agreed purchase price.

HERES MY ADVICE:
Never assume an appraisal replaces a professional home inspection.
An appraiser may identify certain property-condition concerns, but an appraisal is not a comprehensive inspection.

KNOW THE CONDITION. UNDERSTAND THE VALUE. PROTECT YOUR INVESTMENT.

I turn confusion into clarity, stress into confidence, and houses into homes.
Helping you make informed decisions before you ever sign a contract.

🎓 THINKING ABOUT BUYING YOUR FIRST HOME?
Don't wait until you're under contract to discover what you should have known before making an offer!
Join me at my next First-Time Buyer Survival Workshop, where we discuss financing, inspections, appraisals, closing costs, and the decisions that can protect you throughout the homebuying process.
🏡 Come with questions. Leave with a plan and the confidence to take your next step!
📩 Message me for information about my next workshop.

Elzie K. Felton | REALTOR®Keller Williams Realty – Lone Star
📞 512-906-6659
🌐 ElzieFelton.com

10/17/2026

🏡 HOMEBUYER EDUCATION SERIES — DAY 34
🚨 WHAT HAPPENS IF YOUR PROPERTY TAXES INCREASE AFTER YOU BUY A HOME?

You purchased your dream home.
Your mortgage payment fits your budget.
Then, a year later, you receive a notice that your monthly payment is increasing!

WAIT! I THOUGHT I HAD A FIXED-RATE MORTGAGE!
Heres what every homeowner should understand.
A fixed-rate mortgage generally keeps your principal and interest payment the same.
But your property taxes and homeowners insurance can change.

🏠 WHY MIGHT YOUR PROPERTY TAXES INCREASE?
• Your propertys taxable value may increase.
• Local taxing entities may change their tax rates.
• Certain exemptions or tax limitations may change or no longer apply.
• After purchasing a home, the previous owners exemptions or tax limitations may no longer apply to you.

💰 HOW DOES THIS AFFECT YOUR PAYMENT?
If your lender collects property taxes through escrow, higher taxes may increase your monthly payment.
And if theres an escrow shortage, your payment could increase further while that shortage is being repaid.

HERES MY ADVICE:
Before purchasing a home:
✔️ Ask your lender to estimate taxes based on your anticipated ownership—not simply the sellers current tax bill.
✔️ Understand how Texas homestead exemptions work and apply when eligible.
✔️ Budget for possible increases in taxes and insurance.
✔️ Review your annual property tax notices and escrow statements.

DONT JUST ASK, “CAN I AFFORD THIS HOUSE TODAY?”

ASK, “CAN I COMFORTABLY AFFORD THIS HOME IF MY EXPENSES INCREASE?”

I turn confusion into clarity, stress into confidence, and houses into homes.
Helping you make informed decisions before you ever sign a contract.

🎓 THINKING ABOUT BUYING YOUR FIRST HOME?

Dont wait until after closing to discover expenses you should have understood before buying.
Join me at my next First-Time Buyer Survival Workshop, where we discuss financing, property taxes, insurance, closing costs, and the financial responsibilities of homeownership.

🏡 Come with questions. Leave with a plan and the confidence to take your next step!
📩 Message me for information about my next workshop.

10/16/2026

🏡 HOMEBUYER EDUCATION SERIES — DAY 33
💰 HOW MUCH MONEY DO YOU REALLY NEED TO BUY A HOME?

One of the biggest misconceptions about buying a home is that you must have 20% of the purchase price saved for a down payment. THAT'S NOT TRUE!
Let's look at a $300,000 home.
🏠 DOWN PAYMENT OPTIONS:
Depending on your qualifications and loan program:
🔹Conventional Loan (5%) — $15,000
🔹 FHA Loan (3.5%) — $10,500
🔹 VA Loan — Potentially $0 down for eligible borrowers.
🔹 USDA Loan — Potentially $0 down for eligible borrowers and properties.

Here's something many buyers overlook.
YOUR DOWN PAYMENT IS NOT YOUR ONLY EXPENSE!
You should also prepare for:
💵 Closing Costs:
Lender fees, title expenses, prepaid insurance, property taxes, and other closing-related expenses.
📝 Earnest Money:
Money deposited after your offer is accepted, generally credited toward your purchase at closing.
🔍 Inspection and Appraisal:
Expenses you may need to pay before closing.
🚚 Moving Expenses:
Don't forget what it costs to move into your new home.
🔧 Emergency Savings:
Keep money available for unexpected repairs and expenses after closing.

HERE'S MY ADVICE:
Before you begin looking at homes, ask your lender:
How much money will I need from the beginning of the transaction through closing?
And remember, seller concessions or down payment assistance programs may help eligible buyers reduce their out-of-pocket expenses.

THE GOAL ISN'T JUST TO QUALIFY FOR A HOME.
IT'S TO BE FINANCIALLY PREPARED TO OWN ONE!

I turn confusion into clarity, stress into confidence, and houses into homes.
Helping you make informed decisions before you ever sign a contract.

🎓 THINKING ABOUT BUYING YOUR FIRST HOME?
Don't let misinformation or unanswered questions keep you from exploring homeownership.
Join me at my next First-Time Buyer Survival Workshop, where we discuss financing options, down payments, closing costs, credit, inspections, and the important decisions buyers face throughout the process.

Don't wait until you're under contract to discover what you should have known before making an offer!

🏡 Come with questions. Leave with a plan and the confidence to take your next step!
📩 Message me for information about my next workshop.
Elzie K. Felton | REALTOR®
Keller Williams Realty – Lone Star
📞 512-906-6659
🌐 ElzieFelton.com

10/15/2026

🏡 HOMEBUYER EDUCATION SERIES — DAY 32

💰 ARE YOU FINANCIALLY READY TO BUY A HOME?

You have a steady income.

Your credit looks good.

You've saved money for a down payment.

BUT ARE YOU REALLY READY TO BUY A HOME?

Qualifying for a mortgage is one thing. Being financially prepared for homeownership is another.

Before you start shopping, ask yourself these five questions:

💵 1. HAVE I SAVED ENOUGH?

Your down payment is only part of the expense. You'll also need to consider closing costs, inspections, moving expenses, and other potential costs.

🏦 2. CAN I COMFORTABLY AFFORD THE MONTHLY PAYMENT?

Remember to include property taxes, homeowners insurance, and HOA fees, if applicable.

💳 3. HOW MUCH DEBT AM I CARRYING?

Car payments, credit cards, and other financial obligations affect how much room you have in your monthly budget.

🔧 4. AM I PREPARED FOR UNEXPECTED REPAIRS?

When the water heater stops working or the HVAC system needs attention, those expenses may become your responsibility.

💰 5. WILL I STILL HAVE EMERGENCY SAVINGS AFTER CLOSING?

Buying a home shouldn't leave you financially vulnerable.

HERE'S MY ADVICE:

Don't purchase a home simply because a lender approves you for a certain amount.

BUY A HOME THAT FITS YOUR LIFE—NOT JUST YOUR LOAN APPROVAL!

The goal isn't simply to become a homeowner.

It's to become a homeowner who can enjoy the home without unnecessary financial stress.

I turn confusion into clarity, stress into confidence, and houses into homes.

Helping you make informed decisions before you ever sign a contract.

🎓 THINKING ABOUT BUYING YOUR FIRST HOME?

Don't wait until you're under contract to discover what you don't know!

Join me at my next **First-Time Buyer Survival Workshop**, where you'll learn how to prepare financially, understand the buying process, avoid costly mistakes, and purchase with confidence.

🏡 Come with questions. Leave with a plan and the confidence to take your next step!

📩 Message me for information about my next workshop.

Elzie K. Felton | REALTOR®
Keller Williams Realty
📞 512-906-6659
🌐 ElzieFelton.com

10/14/2026

🏡 HOMEBUYER EDUCATION SERIES — DAY 31
🚨 IS YOUR HOME'S WATER PRESSURE TOO HIGH?

Everyone enjoys a strong shower, but did you know that excessive water pressure could be damaging your home's plumbing system?
HIGH WATER PRESSURE CAN LEAD TO EXPENSIVE REPAIRS!
Here's what every homeowner should know.
💧 WHAT'S NORMAL?
Water pressure around 40–60 PSI is generally comfortable for many homes. Residential plumbing pressure should generally not exceed 80 PSI.
🔧 WHAT CAN HAPPEN WHEN PRESSURE IS TOO HIGH?
Excessive pressure can contribute to:
• Leaking faucets and plumbing connections
• Premature wear on appliances
• Damaged plumbing fixtures
• Increased risk of pipe and hose failures
🏠 HOW DO YOU CHECK IT?
A simple water pressure gauge attached to an outdoor hose faucet can help you measure your home's water pressure.
If your pressure is consistently high, have a licensed plumber evaluate your system. A pressure-reducing valve may be necessary.
💡 HERE'S MY ADVICE:
Don't assume stronger water pressure is always better.
A LITTLE PREVENTIVE MAINTENANCE TODAY COULD SAVE YOU FROM EXPENSIVE REPAIRS TOMORROW!
Remember, protecting your investment doesn't stop when you receive the keys.

I turn confusion into clarity, stress into confidence, and houses into homes.
Helping you make informed decisions before you ever sign a contract.

🎓 THINKING ABOUT BUYING YOUR FIRST HOME?
There's more to homeownership than finding the right house and qualifying for a mortgage.
Join me at my next First-Time Buyer Survival Workshop, where you'll learn how to prepare financially, understand the buying process, avoid costly mistakes, and protect your investment after closing.

🏡 Come with questions. Leave with a plan and the confidence to take your next step!

📩 Message me for information about my next workshop.
Elzie K. Felton | REALTOR®
Keller Williams Realty
📞 512-906-6659
🌐 ElzieFelton.com

10/13/2026

10/13/2026

https://www.homes.com/news/mortgage-rates-top-7-why-more-borrowers-are-turning-to-arms-and-buydowns/373650921/?utm_source=Homes&utm_medium=email&utm_campaign=HM_PDT_B2B_ALL_AgentWeeklyNewsFTP_DailyCallout_20260811&utm_id=8bcee287-b295-f111-a5e3-5cba2c6f8688&utm_content=article

As mortgage rates hover near their highest averages in some three years, lenders and borrowers are looking beyond the 30-year, fixed-rate mortgage.The