Buyers are Lazy
August 23rd, 2009 categories: Home Seller Information | views
If you are thinking about putting your house on the Spring Texas real estate market there is something you should know. Buyers are Lazy. Blame it on the success of HGTV or the beautifully decorated model homes of the builders or simply a busy lifestyle because any of them will do for a reason as to why buyers are lazy.
If you are wanting a quick sale, don’t offer the buyers a painting allowance, a carpet allowance, a decorating allowance, nor a repair allowance because they don’t want any of those things. What buyers do want is for the sellers to paint the rooms, replace the carpet, remove the wallpaper, and fix the wood rot.
Buyers want a Spring Texas house that only requires them to do one thing and that is for them to unpack their hammock and relax.
Read also:
- Does your listing have Web Appeal?
- 30 Things to do before putting your house on the Spring Texas real estate market
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How to give your fluorescent light a new look
August 21st, 2009 categories: Home Buyer Information, Home Seller Information | views
As I was flipping through the pages of the latest Realtor® Magazine, I came across an article on decorative light lenses. At only $32 a piece, a light lense is an inexpensive way to add a little pizazz to your big and boxy kitchen fluorescent light. The light lenses are made to easily slip into a standard 24 by 48 inch fluorescent ceiling light.
The Flag Company has over 70 designs for you to choose from including clouds, glass, birds, flowers, and my personal favorite of trees.
After doing a little Googling for “decorative light lenses”, I discovered the Fluorescent Gallery. At $78.95 a lense, the Fluorescent Gallery’s product is more expensive but the lenses have a more sophisticated design and seem better suited for homes. In comparision to the light lenses offered by the Flag Company which remind me of the light lenses I saw recently in my doctor’s office.
If you are tired of the fluorescent light box in your Spring Texas kitchen, install a decorative light lense for a quick and inexpensive way to create a new and custom look.
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Is renting or buying better for you?
August 20th, 2009 categories: Home Buyer Information | views
I think we all know that over the long-term buying a home instead of renting is the better financial decision. Homeownership provides us with the financial benefits of tax savings, the ability to build up equity, and the opportunity for price appreciation.
But homeownership is not for everyone. You need to evaluate your situation and determine if now is the right time to buy a home. As there will be times in your life when owning a home is not the best financial decision.
How do you know if now is the right time for you to own a Spring Texas home? And where should you even begin to figure it out? 
I think the best place to begin is by calculating “what if” scenarios with a rent vs buy calculator. A rent vs buy calculator will include in its calculation more than just the difference in the monthly mortgage payment and the monthly rent payment. A rent vs buyer calculator also considers yearly rental increases, the purchase price of the home, the term of your loan, the mortgage interest rate, buying and selling costs, the anticipated price appreciation rate for the Spring Texas real estate market, your tax rate, the cost of homeowners insurance, the annual real estate taxes, and the annual cost of home maintenance.
I know some of these items are difficult at best to estimate so be as conservative as possible with your estimates. On the items that you are totally at a lost how much to estimate, ask your friends or co-workers who live in Spring Texas how much their expenses are, ask a lender to provide you with an estimation of closing costs, and ask a Spring Texas Realtor what you should estimate for real estate taxes and how much you should estimate for price appreciation. To help you out, I would estimate real estate taxes at 3% of the purchase price and a conservation rate for price appreciation would be 2.0%. The Spring Texas real estate market is rather stable in comparison to other real estate markets in the U.S.
You can run your own “what if” scenarios by clicking on the Rent vs Buy Calculator graphic or through this link - Rent vs Buy Calculator
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Spring TX Real Estate: Market Report July 2009
August 18th, 2009 categories: Spring Texas Real Estate Market Reports | views
The further into the year we get the better the Spring Texas real estate market gets. The year over year percentage decreases continue to decline as we continue our climb to the return of a normal market.
Our real estate market still has a way to go but the chart shows you the dramatic improvements it has made since the first of the year.
Houses in the under $200,000 price range continue to be where the most buyer activity is occurring. This comes as no surprise since the under $200,000 price range is being fueled by the first time homebuyers tax credit.
If your house falls in the lower price range and you are thinking about selling it, now is the time. There are still first time homebuyers in the real estate market wanting to take advantage of the tax credit but waiting on the right home. You need to hurry though because the first time homebuyers tax credit credit expires on December 1st, 2009 and this price range is bound to take a breather.
Spring Texas houses in the $400,000+ price range continue to sit and sit as the buyers are missing in action. Prices are still stable at the upper price ranges as sellers seem to be content with waiting until the buyers return.
If you love numbers like I do, check out the Real Estate Market Reports category to get your fill.
The data represented is from the Houston Association of Realtors MLS for single family existing homes in Area 13. Area 13 covers the geographic boundaries of East – I45 to West – Hwy 249 to South – Beltway 8 to North – Spring Cypress. A good portion of the houses in MLS area 13 have a Spring TX mailing address.
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Time’s Running Out
August 17th, 2009 categories: Home Buyer Information | views
In a short 105 days it will be November 30th and the $8,000 first time homebuyers tax credit will expire. Whether the tax credit will be extended beyond November 30th, 2009 or whether a different version of it will be available are two questions I can not answer. Nor I am willing to go out on a limb and make a prediction.
What I do know is if I was going to be a first time home buyer I would not let an opportunity to receive $8,000 in FREE MONEY from our U.S. Government pass me by. After all $8,000 is a lot of moo-la and for the average first time home buyer it takes a long time to save up that amount of cash.
A couple of things to remember about the approaching November 30th deadline:
1. If you are in contract on a Spring Texas house but have NOT closed by November 30th, sorry but you DO NOT collect $8,000 from the U.S. Government. The tax credit is ONLY for homes purchased and closed by November 30th, 2009.
2. If you are in contract to have a Spring Texas house built for you but the house is not going to be ready until December 30th, 2009, sorry but you DO NOT collect $8,000 from the U.S. Government. Although you were under contract by November 30th, you did not close on the house by November 30th and the tax credit is ONLY for homes purchased and closed by November 30th, 2009.
3. If you are in contract on a Spring Texas house and your closing date is scheduled for November 30th, but the lender is unable to close on November 30th because he has not finished processing your loan, sorry but you DO NOT collect $8,000 from the U.S. Government.
No matter what the reason is and as unfair as it may seem, if you do not close on the home by November 30th you are not eligible for the first time home buyers tax credit. So don’t wait to the last minute or last day to close. You need to allow time for house hunting, negotiations, holidays, loan processing, and a buffer for when things take longer than expected.
Begin your search for Spring Texas homes for sale today to avoid missing out on your $8,000 in FREE MONEY!
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Who repairs the nail holes?
July 27th, 2009 categories: Home Buyer Information | views
What should a home’s condition be on closing day? According to our Texas residential real estate contract, sellers are contractually obligated to deliver the property to the Buyer in the same condition as on the date the contract was executed; normal wear and tear expected. Sound vague? It sure does. Our Texas real estate contract does not go into any further detail nor is there a checklist provided to the seller identifying all the tasks he should do after he moves out.
So as a home buyer what should you expect from the sellers? It is customary for the sellers to leave the house in a “broom clean” condition. Broom clean means the house should be move-in ready with all of the sellers possessions and trash removed from the house, carpets vacuumed but it does not mean professionally steam cleaned, cabinets and shelves wiped down, floors and counter tops cleaned and toilets scrubbed.
But who repairs the nail holes from where the sellers photo collection was once displayed? If the sellers removed the nail, the hole left in the wall should be just that a nail hole and not a large gaping hole. If the hole is a large gaping hole, it would be the sellers responsibility to repair the hole. If the hole is truly a nail hole, it would be the buyers responsibility to repair the hole as a nail hole would be considered ordinary wear and tear.
Repairing nail holes is not a tough job and there are readily available products to make the job easier for you. One of the best products for repairing nail holes is Elite Products Erase-A-Hole. The product has been recommended by Good Housekeeping Research Institute and sells for $6.95 plus shipping. Just consider nail hole repair as one of the many joys of home ownership.
And if you are wondering the answer is No, I do not receive any compensation from Elite Products for mentioning their Erase-A-Hole product. I simply think it is a great product. But if you don’t want to buy their product then fix your hole the old-fashion way and squeeze some white toothpaste in the hole and consider it repaired.
Read also:
- What should you be looking for during the final walk-thru of your home?
- What’s included in a Spring Texas resale home and what leaves when the sellers leave?
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Who has the best Mexican food in Spring Texas?
July 24th, 2009 categories: Dining and Entertainment | views
I have heard that to true purists there is a difference between Mexican and Tex/Mex food, but this Gringo certainly does not know what it is. What I do know is what I like and what I like are cold, frozen margaritas, crisp chips, chunky red salsa, creamy green salsa, tasty fajitas, and loaded nachos. These are the criteria by which I rate all Mexican restaurants.
I can not claim to have eaten at all of the numerous and I do mean numerous Mexican restaurants located in and around Spring Texas but I have eaten at enough of them to know which are the best.
Here’s my list of the best Mexican / Tex/Mex restaurant for each of the following categories:
Best Happy Hour: Chuy’s- $3.50 Margaritas and a FREE loaded nacho car from 4 – 7 pm weekdays is why Chuy’s has the best happy hour(s).
Best Creamy Green Sauce: Chuy’s - If you like ranch dressing with a kick this addictive sauce is for you.
Best Red Salsa: Pappasitos
Best Chips: Chuy’s
Best Frozen Margaritas: Chuy’s
Best single chip Nachos: Pappasitos
Best bar atmosphere: Gringo’s
Best Fajitas: Pappasitos – The meat is so tender it almost melts in your mouth.
Best overall Mexican restaurant: Pappasitos
Who do you think has the best Tex/Mex or Mexican food in the Spring Texas area?
Read also:
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10 questions to ask your mortgage lender
July 22nd, 2009 categories: Home Buyer Information | views
When shopping for a loan for your Spring Texas home you need to compare and consider more than just a lender’s interest rate. Granted the interest rate is a large factor but you should also include the mortgage lender’s service, other fees, and terms in your decision.
To help you decide which mortgage lender is the best for you, ask and compare the answers to these 10 questions:
1. Does the loan have a prepayment penalty? Find out the duration period of the penalty and the amount of the prepayment penalty. Knowing the prepayment penalty is important if you are planning on selling the home before the end of the loan duration.
2. What is private mortgage insurance and what can I do to avoid paying it? You may have some options available that do not include paying PMI. But you will want to review the estimated monthly payments to determine how much of a reduction the elimination of PMI nets you.
3. When can I lock in the interest rate and for how long can I lock in the rate? As soon as you provide your lender the address of the home you are purchasing he can lock your interest rate. The lender can not lock in the interest rate at the time he provides you with a GFE which is why the quoted rate may vary from the actual interest rate you receive. If you are building a home or planning on a long escrow period, you will want to ask the lender how many days in advance of the closing date he can lock the rate.
4. What if the interest rates go down, can I relock at a lower rate? If so is there a fee? Interest rates fluctuate on a daily basis and no loan officer can successfully predict which way the rates are going. But its good to know if you can hedge your bet by locking in an interest rate and still take advantage of a lower rate if one becomes available.
5. How long will it take to process my loan application? Typical loan processing times range from 30 to 45 days, but due to changes in the mortgage industry, additional procedures, and increases in the requirements for supporting documentation processing times are being lengthen by at least another week.
6. What documents do I need to provide? The lender will be able to provide you with a list of all the supporting documents he needs for proof of your income and assets.
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Thinking about a staycation?
July 19th, 2009 categories: Events and Activities | views
Does your wallet seem a little lighter this summer? Are you wondering how you can have a vacation without spending a fortune?
With numerous things to do and see in and around the Spring Texas area, a staycation may be just the answer. The good news is there are loads of things to do that don’t require you to empty your wallet to enjoy them.
To help you answer the question of “What’s there to do?”, I have put together a list of ideas:
- Enjoy a night at the movies at the Silverado IMAX or double your fun by watching a movie and eating dinner at the same time at the Movie Tavern.
- Take in a concert at the Cynthia Woods Mitchell Pavilion or the Sam Houston Race Park.
- Spend a day visiting the numerous museums located in the Houston Museum District or stay even closer to home by visiting the Pearl museum or the Children’s museum in the Woodlands.
- Get wet and cool off at your neighborhood’s swimming pool or take a plunge at Splashtown.
- Try your luck fishing at Meyer Park or Burrough’s Park
- Travel to some far away land and time by becoming absorbed in the book you borrowed from the Barbara Bush Library.
- Enjoy a new release movie on the cheap by renting from RedBox for $1.08 a night. RedBox is becoming more popular and available at many Walgreens, Walmart, and McDonalds.
- Run away and watch the circus. The Ringling Bros. Barnum and Bailey Circus is performing at Reliant Stadium from July 19th – 26th.
- Explore the Woodlands waterway with a ride on one of its water taxis.
- Go out to Minute Maid ball park and root, root, root for the home team and buy some peanuts and Cracker Jack.
- Be a tourist and spend the day browsing through the 150+ shops and restaurants at Old Town Spring.
- Break routine and try out a new pizza joint or tex / mex restaurant.
- Play games at the Main Event.
- Watch water dance to music and lights at the Woodlands water fountains.
- Visit the Houston Zoo and see if you can talk to the animals.
- Explore the hiking trails at Mercer Arboretum and appreciate nature’s beauty at Mercer’s Botanical Gardens
- Pick blueberries at Neal’s blueberry farm.
- Spend the day pursuing the aisles of IKEA.
- Practice your ice skating at the Galleria’s ice skating rink.
- Enjoy an ice cone at Brusters.
With so many ways to have fun in and around the Spring Texas area, get out and enjoy yourself. Don’t let a lighter wallet be the reason you stay inside all summer because there’s lots of things to do on the cheap. Enjoy your staycation!!!
Photo taken of the Splashpad at Gleannloch Farms
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Spring TX Real Estate: Market Report June 2009
July 15th, 2009 categories: Spring Texas Real Estate Market Reports | views
What’s going on in the Spring TX real estate market? Some of our numbers look very different than last year and some numbers are eerily similar.
In the very different category is the quantity of active listings on the real estate market in June of 2008 versus June 2009. In June of 2008, there were 1,710 active listings. Fast forward a year and there are 1,105 active listings which is 35% less than the previous year.
As a listing agent, I have certainly seen the decrease in listing activity this year. Last year during the summer months my farm territory had approximately 5% of its homes on the market. This year the active listing are sitting at 1%.
Also in the very different category is the quantity of months of inventory. Last year the months of inventory was 7.2 while this year it is 5.9. In 2008, the buyers were in the drivers seat and their offers reflected their stronger negotiating position. This year we are experiencing a more balanced market and with it the return of more reasonable and less demanding buyers.
Now for those eerily similar numbers, June 2008 Sales were 247 and June 2009 Sales were 243. A miniscule four less home sales versus the previous year.
Where are all the buyers? A look at the numbers reveals no real surprises. The buyers fueling the Spring TX real estate market are the first time home buyers. They understand what a great deal the $8,000 first time homebuyer tax credit is and are cashing in on what may be a once in a life time opportunity. Homes in the under $180,000 have only 5.8- months of inventory compared to the slow moving $250,000+ homes with 8.2+ months of inventory.
If you love numbers like I do, check out the Real Estate Market Reports category.
The data represented is from the Houston Association of Realtors MLS for single family existing homes in Area 13. Area 13 covers the geographic boundaries of East – I45 to West – Hwy 249 to South – Beltway 8 to North – Spring Cypress.
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