Sticks in the Ground

Houston Housing Cools

An anticipated property sales slowdown hit the Houston real estate market in July following the expiration of the federal homebuyer tax credit. The credit had propelled local home sales for four straight months; however home sales suffered a double-digit decline in July. Despite the drop, the average price of a single-family home still managed to climb to a two-year high.

According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), July sales of single-family homes throughout the Houston area fell 25.1 percent compared to July 2009. Sales volume faltered in all single-family home pricing segments except for the segment of properties priced under $80,000, which was flat.

The average price of a single-family home rose 2.7 percent from July 2009 to $224,764, the highest price since June 2008. The July single-family home median price—the figure at which half of the homes sold for more and half sold for less—dipped 0.7 percent from one year earlier to $160,880.

The number of available properties, or active listings, at the end of July rose 18.6 percent from July 2009 to 55,247. That represents 1,313 more active listings than one month earlier, in June 2010, and reflects additional housing inventory that is remaining on the market as a result of reduced consumer interest following the expiration of the homebuyer tax credit.

Month-end pending sales for July totaled 3,267, down 16.4 percent from last year, suggesting that sales will be down again in August. The month’s inventory of single-family homes for June extended to 7.7 months compared to 6.5 months one year earlier, but remains healthier than the national month’s inventory of single-family homes of 8.9 months, as reported by the National Association of REALTORS®.

.....blogging from Kingwood, TX

Return to Top

Rainwater Harvesting – What’s the Benefit

Capturing and reusing rainwater for landscape use is obviously a way to conserve the municipal water supply, but, according to gardening experts, the rainwater is high in nitrogen and trace minerals, a real bonus for plants.

The Community Associations of The Woodlands recently installed a rainwater harvesting tank, the first of its kind at a public building in South Montgomery County. The 2,500-gallon tank collects rainwater from the office roof at the Parks, Recreation and Environmental Services facility in The Woodlands, providing drip-irrigation to more than 1,000 square feet of demonstration gardens at the site.

The public is invited to see the system and learn about rainwater harvesting methods for home and business at Woodlands Landscaping Solutions on Saturday, September 26, from 9 am to 12 noon at 8203 Millennium Forest Drive. The free, annual, how-to event promotes water-wise gardening.  For more information, visit http://www.thewoodlandsassociation.org, click on Environmental Services and then Woodlands Landscaping Solutions or call 281-210-3900.

P>.....blogging from Kingwood, TX

Return to Top

Questions About the Energy Efficiency Tax Credit?

Are you thinking about adding insulation, a radiant barrier or new “energy efficient” windows to your home? Is your A/C or heating unit about at the end of it’s useful life. Do you need a new water heater?  Well, completing any of those projects before the end of 2010 may be more economical than you thought. There is a new Federal Tax Credit for Energy Efficiency. The credit can be as much as 30% of the cost of the improvement. But, like everything else related to the tax code, the bottom line impact is different for different types of “energy efficiency projects”. For some installations the cost of both materials and labor are considered, for others only the cost of materials. And the materials used must comply with the guidelines established by Congress. For specific answers to the most common questions on this subject please go to Energy Credit Frequently Asked Questions.

.....blogging from Kingwood, TX

Return to Top

Technorati Tags: Housing,Tax Credits

TERMITES - trickier than you think

 Termites pose a constant threat to your home if you live in Texas. Many believe that they are easy to spot, should they begin to attack your structure. People generally look for the telltale sign of mud tunnels crawling up the side of the foundation. If found, chances are the little devils are on the attack. By nature termites are subterranean and must return to the earth each evening to gather moisture. That’s why they build the mud tunnels. HOWEVER, if you allow foliage such as VINES to grow on your house, you have just managed to make home invasion by termites that much easier. You have eliminated the need for these destructive creatures to “return to the earth”. You have provided them with a very acceptable alternative source of moisture. Give yourself a fighting chance, don’t make it easy for these pests to attack your home undetected.

.....blogging from Kingwood, TX

Return to Top

Technorati Tags: Housing,Termites

Kingwood Real Estate Sales Statistics – 2004 thru 2008

As we ponder the state of the economy and what impact this turmoil is having on our financial net worth, the question “What’s happening to my house value?" has to be on our minds. I usually steer clear of generalizations, but, as a starting point I’ve put together two charts which illustrate how Kingwood home sales volume and price have been trending over the last five years. Here are the charts:

 

The number of homes sold in Kingwood started to turn down in 2007. However, the price of Kingwood homes flattened in 2008, reversing a multi-year upward trend.

The risk in sharing this “overview” is that it most likely does not accurately reflect your individual situation. Think of it as a starting point. Since there are numerous pundits discussing the future of the housing market and it’s related issues, it’s important to know where the Kingwood Real Estate Market is coming from. 

If you will be active in the Kingwood Real Estate Market during 2009, call Team Kelly and we’ll work with you to develop comprehensive information you will need to make sound individual decisions.

Visit us on the web at KingwoodTxHomesForSale.com

.....blogging from Kingwood, TX

Return to Top

Fingerprints & Background Checks

With the new year comes new requirements for Texas real estate brokers and salespeople. Now, before a person can apply for or renew their real estate license, they must be fingerprinted and submit to an FBI background check. Although fingerprinting is a one time requirement, effective January 2008, the FBI background check will be performed EVERY time the real estate license is renewed, typically every two years. The process is administered by the Texas Department of Public Safety.

This requirement is a positive step in an ongoing effort to safeguard the public and monitor the integrity of the real estate practitioner. As a consumer of real estate services YOU deserve the best representation possible.

Visit us on the web at KingwoodTxHomesForSale.com

... blogging from Kingwood, TX

Return to Top

Choosing the Right Realtor to List Your Home

All real estate agents are not equal. Experience, knowledge, personality, professionalism, marketing skills and a whole host of other characteristics are involved in determining which agent is the best match for your needs.

The bottom line is that you want someone representing you that will put your interests above all others. You want someone who will work full time using every tool and skill available to market your home effectively. You want someone who will strive to bring you the highest price the market will yield, in a reasonable timeframe. You want someone who will council with you throughout the process and help you make the best decisions consistent with your objectives.

How do you go about finding this superhero agent?  Here is a solid approach. The time and effort you spend now, before you sign that listing agreement, will pay dividends for you in the long run.

First of all, plan on interviewing more than one agent …  but only one from any given company, please. Get suggestions from friends and family, see who’s active in your area, and visit the internet. By asking the right questions of the agents you choose to interview, the probability for a successful sale of your home will improve greatly.

So what should you ask?

Start by asking to see the agent’s personal marketing materials.  An agent who represents themselves professionally most likely has the skill and know how to package your property effectively.

Ask how the agent approaches their work. What you should be looking for is an honest and knowledgeable individual, who works full-time and appreciates the importance of your goals and objectives. Length of time in the business, track record of success, expertise in and knowledge of the local real estate market are all factors to consider.

Ask about recent listings, time on market, and ratio of final sale price to original asking price. Be wary of agents who suggest very high or very low initial asking prices, and don’t necessarily be impressed by unrealistically quick sales times.   
Seek to understand the current market so you can formulate realistic selling expectations.

You should inquire what professional organizations the agent is actively involved in and why.

What type of support staff does the agent have available to make sure the details of your transaction don’t slip between the chairs?

You should be pleased if the agent asks you a lot of questions. That’s an indication he or she is already thinking of unique ways to market YOUR property. Your agent should be prepared to use all the tools available to YOUR best advantage.

You’ll want to know what marketing materials will be created and how they’ll look; what the “Open House” plan will be; how advertising will be employed; and what additional techniques will be used to gain maximum property exposure.

Your agent should offer council in preparing or “staging” your home which, in turn, goes a long way to maximizing the homes potential market value while minimizing its time on the market.

Ongoing communications with your agent during the listing is very important. Find an agent who agrees with its importance and is willing to use a style that you are most comfortable with.

YOU decide the asking price, but your agent must be prepared to give recommendations, backed up by solid data and logic.  Placing a realistic price on your property that reflects its current condition will attract prospective buyers and get you all the current market has to offer.

Don’t hesitate to ask for references.  A good agent, proud of their work will be happy to provide them.

The meaning of the terms and conditions of the listing agreement should be explained to your satisfaction, including beginning and expiration dates and fees you will be expected to pay. And you should be briefed about disclosure laws and available home protection plans.

In the end you are choosing a business partner, so you want to contract with someone you will be very comfortable working with on a very serious and rewarding adventure.

© 2005 TeamKelly.com

.... blogging from Kingwood, TX

Return to Top

Before You Plant That FOR SALE Sign .....

Before you start marketing your home FOR SALE, make sure you have prepared your property and yourself for the adventure. Think about the points we have outlined here, before you do anything else.  Good planning and preparation will help you maximize your profits, maintain control, and reduce the stress that comes with the home-selling process.

•Look closely at why you want to sell. Your motivations play an important role in the process.

•Your reasons will affect how you negotiate the sale of your home, but they shouldn’t be given as ammunition to the person who wants to buy it.

•Settling on an offering price shouldn’t be done lightly. Once you’ve set your price, you’ve told buyers the absolute maximum they have to pay for your home.

•Get to know your competition, identify features that are popular and learn what turns buyers off.

•Sometimes you can use a good appraisal to your benefit in marketing your home.  However, an appraisal costs money. It also has a limited life. And you may not like the figure you hear.

•Some people look to tax assessments to assign a value. The problem here is that assessments are based on a number of criteria unrelated to property values, so they often don’t necessarily reflect the true value of your home.

•A good Realtor knows the market and your neighborhood in particular. They will supply you with information on past sales, current listings, a marketing plan and something on their own background. Take the time to carefully evaluate candidates on the basis of their experience, qualifications, enthusiasm, and personality.

•When you set your asking price make sure you leave yourself enough room in which to bargain.

•Before setting your asking price, review your priorities.

•Appearance is critical—and it would be foolish to ignore this when selling your home. The look and “feel” of your home generates a greater emotional response than any other factor. Prospective buyers react to what they see, hear, feel and smell.

•Pick up, straighten, unclutter, scrub, scour, dust...well, you get the idea.

•Something minor problems that have gone unattended can suggest that perhaps there are bigger, less visible problems present as well.

•Make your home as neutral as possible. Anything that interferes with a prospective buyers’ ability to see themselves living in your home must be eliminated.

•A well-placed vase of flowers, accent pieces of sculpture, potpourri in the bathroom—all can enhance the attractiveness of your home in a subtle, soft-spoken way.

•Odd smells kill deals quickly. All traces of food, pet and smoking odors must be eliminated.

•Smart sellers proactively go above and beyond the laws to disclose all known defects to their buyers— in writing. 

•Let go of the emotion you’ve invested in your home and approach negotiations in a detached, businesslike manner.

•In the negotiation process, your objective is to control the pace and set the duration.

•Don’t sign a deal on your next home until you close the deal on this one.

•It is more difficult to sell a home that is vacant.

•Forcing yourself to sell by a certain date adds unnecessary pressure and puts you at a serious disadvantage in negotiations.

•The first offer is invariably well below what you both know the buyer will end up paying for your property. Don’t get angry or feel insulted; evaluate the offer objectively. Make sure it spells out the offering price, adequate earnest money, amount of down payment, mortgage amount, a closing date and any special requests. Now you have a point from which you can negotiate.

•An unacceptably low offer should not be taken personally or seriously. Rather, it should be countered.

•The best way to avoid problems is to make sure that all terms, costs and responsibilities are spelled out in writing in the contract of sale.

•Resist the temptation to diverge from the contract. If the buyer requests a move-in prior to closing, just say no.

If this all sounds like a lot of work it is. But it’s to be expected when you’re selling anything of such great value. And you’ll thank yourself for all the expense and hard work when the outcome works to your satisfaction.

For an expanded version of this report, quick tips and more in-depth topics about selling your home visit the Seller Report section of our web site.

© 2005 TeamKelly.com

.... blogging from Kingwood, TX

Return to Top