RREA Presents: 1815 Wagon Gap
We're sorry, but we couldn't find MLS # 24421240 in our database. This property may be a new listing or possibly taken off the market. Please check back again.
Archive by Author
(more…)
Neighborhood Update: Cypresswood in Spring Texas
West of I-45 and connected via Cypresswood Drive and Louetta Road.
Residents can easily access downtown Houston, Bush Intercontinental Airport, shopping, entertainment, and sports venues.
Community Amenities include two clubhouses and a pavilion, two swimming pools, 10 tennis courts, two playgrounds, a walking/jogging trail along Ella Boulevard and sidewalks along Cypresswood Drive.
Community sponsored events include annual children’s Easter gatherings, the July 4th Celebration and parade, National Night Out, Member/guest tennis tournament, annual Fall Festival, and Breakfast with Santa.
Community activities and organizations include a community swim team, bridge clubs, a garden club, a 50 plus group, a women’s club, children’s play group and scouting organizations.
Cypresswood is in the Klein School district and feeds to the following schools:
Elementary: Haude
Middle: Strack
High: Klein Collins
Cypresswood Tax rate is one of the lowest in Spring at 2.65%
The tax rate, School district and location are only a few reasons why this neighborhood remains very desirable and has understandably remained unaffected by the overall housing market, and home values have continued to increase up approx 5% over 2009 year end average sales prices.
Market activity for the last 3 months in Cypresswood show that 7 Homes have sold with an average sales price of $143,500 and size of 2477sf. Homes are selling at 98% LP/SP Overall time on the market is just over 2 months, with well priced properties moving more rapidly.
There are currently 31 homes for sale in the Cypresswood neighborhood and if you’re interested in buying or selling a home in the neighborhood or the area in general, call 832-576-4902 or email kimberly@rrea.com.
Showing properties
1 - 10 of 82.
See more Homes for sale in Cypresswood.
(all data current as of
5/19/2012)
-
$1,650 : 3822 Cypresswood Dr, Spring4 beds, 2 full, 1 part baths
-
$159,900 : 3822 Cypresswood Dr, Spring4 beds, 2 full, 1 part baths
-
$180,000 : 19863 Cypresswood Dale, Spring4 beds, 2 full, 1 part baths
-
$135,000 : 18330 Ella Bl, Spring4 beds, 2 full, 1 part baths
-
$459,000 : 16312 Lobo Ln, Spring5 beds, 3 full, 1 part baths
-
$129,900 : 3502 Coltwood Dr, Spring4 beds, 2 full baths
-
$139,900 : 20234 Cypresswood Gl, Spring4 beds, 2 full, 1 part baths
-
$138,370 : 6614 Level Pond Lane, Humble4 beds, 2 full baths
-
$1,275 : 3622 Rolling Forest Dr, Spring3 beds, 2 full baths
-
$219,500 : 20510 Cypresswood Meadows, Spring5 beds, 3 full, 1 part baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
8 Tips for Adding Curb Appeal and Value to Your Home
Homes with high curb appeal command higher prices and take less time to sell. We’re not talking about replacing vinyl siding with redwood siding; we’re talking about maintenance and beautifying tasks you’d like to live with anyway.
The way your house looks from the street—attractively landscaped and well-maintained—can add thousands to its value and cut the time it takes to sell. But which projects pump up curb appeal most? Some spit and polish goes a long way, and so does a dose of color.
Tip #1: Wash your house’s face
Before you scrape any paint or plant more azaleas, wash the dirt, mildew, and general grunge off the outside of your house. REALTORS® say washing a house can add $10,000 to $15,000 to the sale prices of some houses.
A bucket of soapy water and a long-handled, soft-bristled brush can remove the dust and dirt that have splashed onto your wood, vinyl, metal, stucco, brick, and fiber cement siding. Power washers (rental: $75 per day) can reveal the true color of your flagstone walkways.
Wash your windows inside and out, swipe cobwebs from eaves, and hose down downspouts. Don’t forget your garage door, which was once bright white. If you can’t spray off the dirt, scrub it off with a solution of 1/2 cup trisodium phosphate—TSP, available at grocery stores, hardware stores, and home improvement centers—dissolved in 1 gallon of water.
You and a friend can make your house sparkle in a few weekends. A professional cleaning crew will cost hundreds—depending on the size of the house and number of
Tip #2: Freshen the paint job
The most commonly offered curb appeal advice from real estate pros and appraisers is to give the exterior of your home a good paint job. Buyers will instantly notice it, and appraisers will value it. Of course, painting is an expensive and time-consuming facelift. To paint a 3,000-square-foot home, figure on spending $375 to $600 on paint; $1,500 to $3,000 on labor.
Your best bet is to match the paint you already have: Scrape off a little and ask your local paint store to match it. Resist the urge to make a statement with color. An appraiser will mark down the value of a house that’s painted a wildly different color from its competition.
Tip #3: Regard the roof
The condition of your roof is one of the first things buyers notice and appraisers assess. Missing, curled, or faded shingles add nothing to the look or value of your house. If your neighbors have maintained or replaced their roofs, yours will look especially shabby.
You can pay for roof repairs now, or pay for them later in a lower appraisal; appraisers will mark down the value by the cost of the repair. According to Remodeling Magazine’s 2010-2011 Cost vs. Value Report, the average cost of a new asphalt shingle roof is about $21,500.
Some tired roofs look a lot better after you remove 25 years of dirt, moss, lichens, and algae. Don’t try cleaning your roof yourself: call a professional with the right tools and technique to clean it without damaging it. A 2,000 sq. ft. roof will take a day and $400 to $600 to clean professionally.
Tip #4: Neaten the yard
A well-manicured lawn, fresh mulch, and pruned shrubs boost the curb appeal of any home.
Replace overgrown bushes with leafy plants and colorful annuals. Surround bushes and trees with dark or reddish-brown bark mulch, which gives a rich feel to the yard. Put a crisp edge on garden beds, pull weeds and invasive vines, and plant a few geraniums in pots.
Green up your grass with lawn food and water. Cover bare spots with seeds and sod, get rid of crab grass, and mow regularly.
Tip #5: Add a color splash
Even a little color attracts and pleases the eye of would-be buyers.
Plant a tulip border in the fall that will bloom in the spring. Dig a flowerbed by the mailbox and plant some pansies. Place a brightly colored bench or Adirondack chair on the front porch. Get a little daring, and paint the front door red or blue.
These colorful touches won’t add to the value of our house: appraisers don’t give you extra points for a blue bench. But beautiful colors enhance curb appeal and help your house to sell faster.
Tip #6: Glam your mailbox
An upscale mailbox, architectural house numbers, or address plaques can make your house stand out.
High-style die cast aluminum mailboxes range from $100 to $350. You can pick up a handsome, hand-painted mailbox for about $50. If you don’t buy new, at lease give your old mailbox a facelift with paint and new house numbers.
These days, your local home improvement center or hardware stores has an impressive selection of decorative numbers. Architectural address plaques, which you tack to the house or plant in the yard, typically range from $80 to $200. Brass house numbers range from $3 to $11 each, depending on size and style.
Tip #7: Fence yourself in
A picket fence with a garden gate to frame the yard is an asset. Not only does it add visual punch to your property, appraisers will give extra value to a fence in good condition, although it has more impact in a family-oriented neighborhood than an upscale retirement community.
Expect to pay $2,000 to $3,500 for a professionally installed gated picket fence 3 feet high and 100 feet long.
If you already have a fence, make sure it’s clean and in good condition. Replace broken gates and tighten loose latches.
Tip #8: Maintenance is a must
Nothing looks worse from the curb—and sets off subconscious alarms—like hanging gutters, missing bricks from the front steps, or peeling paint. Not only can these deferred maintenance items damage your home, but they can decrease the value of your house by 10%.
Here are some maintenance chores that will dramatically help the look of your house.
- Refasten sagging gutters.
- Repoint bricks that have lost their mortar.
- Reseal cracked asphalt.
- Straighten shutters.
- Replace cracked windows.
Read more: www.houselogic.com
If you’re in the market to buy or sell a home or facing a financial challenge and need to short sale your home, please give me a call at 832-5786-4902 or email me at kimberly@rrea.com .
Limit Rentals to Keep Your Condo Value Up
Are renters taking over your condo building? If more than 50% of units are home to renters, your property value takes a hit because FHA won’t finance loans to buyers for your condo or refinance your existing loan. Plus, would-be buyers typically seek out condos in buildings that are majority owner-occupied based on the perception that owners are quieter and more stable than renters.
If your condominium doesn’t have a rental cap, your unit’s value is at risk.
I just ran into this issue with my one of my buyers and she ended up having to pay cash for her unit because the occupancy rate was too low, (meaning too many units were rental properties) and no bank would finance the property for her. Fortunately for this seller, my buyer had the cash, but I must tell you, my buyer got one heck of a great deal because of it.
The unfortunate thing for existing owners is that they will have a hard time selling and will usually take a hit on the sale price. Cash offers usually come from investors who offer much less then the asking price.
A condo rental restriction can be added in one of two ways;: easy and risky, or tough and expensive.
2 ways to add a condo rental restriction
1. Cheap and easy: If your condo declaration (the legal document that lays out the condo’s rules) doesn’t mention rental limits, the condo board can pass one or more rules that:
- Cap the proportion of units that can be rented out at any one time.
- Limit each home owner to one rental during the time they own the unit.
- Limit the length of time the unit can be rented.
- Ban rentals completely.
- Allow rentals only when home owners can prove a hardship, like they’ve been transferred to another city and can’t sell their unit for enough money to cover what they owe on the mortgage, or they need to move to take care of a sick relative.
A rule change is the easy way to go because it usually requires a vote only by the board of directors—not other residents. Grandfather in existing rental units so the rental ban doesn’t force condo owners who currently rent their units to breach their leases with their renters. That could lead the landlords to file suit against the condo board.
Cost: About $500 for the association attorney to review the condo rental restriction to make sure it’s reasonable and fair.
2. Tougher and more expensive: Amend the condominium declaration. This will be harder because you’ll probably need a supermajority of owners (80% is common) to agree to the rental ban. A declaration change to limit rentals will better withstand a court challenge than a rule change, because the declaration vote shows most unit owners (and not just the board members) want the change.
- If the declaration does mention rentals and you want to change the specifics, your condo board has to amend the declaration, which often means getting that supermajority of owners to agree. The board can’t pass a rule that conflicts with the declaration.
- A declaration change is a long process because your board might have to hold public meetings or send certified letters to make sure everyone in the building knows about the proposed change. The steps for changing your condo’s declaration will be explained in the declaration.
Cost: About $500 to $1,000 to have an attorney review the condo rental restriction amendment and verify the board followed the rules when it notified home owners and held a vote on changing the declaration.
Whichever method you choose, check state laws to see if they have anything to say about limiting rentals. Be sure to ask the board’s attorney about what will happen and how much it could cost in your area if an owner sues over the condo rental restriction. Our rough estimate: $10,000 to $20,000 to defend or enforce a condo rental restriction.
If you’re in the market to buy or sell a condo call me at 832-576-4902.
Some information provided by houselogic.com
Assessing the Real Cost of a Fixer-Upper
Everyone s looking for a bargain these days and the Real Estate Market is obliging. Many homes that are currently on the market are Foreclosures or Short Sales. Unfortunately most of these homes are being sold with no disclosures, as is, Caveat Emptor (or “Buyer Beware”) and usually need some work or are considered “fixer-uppers”.
You need to know the facts before you decide that this bargain is the right one for you. When you buy a fixer-upper house, you can save a ton of money, or get yourself in a financial mess (anyone out there remember the movie “The Money Pit”?).
Trying to decide whether to buy a fixer-upper house? Follow these seven steps, and you’ll know how much you can afford, how much to offer, and whether a fixer-upper house is right for you.
1. Decide what you can do yourself.
TV remodeling shows make home improvement work look like a snap. In the real world, attempting a difficult remodeling job that you don’t know how to do will take longer than you think and can lead to less-than-professional results that won’t increase the value of your fixer-upper house.
- Do you really have the skills to do it? Some tasks, like stripping wallpaper and painting, are relatively easy. Others, like electrical work, can be dangerous when done by amateurs.
- Do you really have the time and desire to do it? Can you take time off work to renovate your fixer-upper house? If not, will you be stressed out by living in a work zone for months while you complete projects on the weekends?
2. Price the cost of repairs and remodeling before you make an offer.
- Get your contractor into the house to do a walk-through, so he can give you a written cost estimate on the tasks he’s going to do.
- If you’re doing the work yourself, price the supplies.
- Either way, tack on 10% to 20% to cover unforeseen problems that often arise with a fixer-upper house.
3. Check permit costs.
- Ask local officials if the work you’re going to do requires a permit and how much that permit costs. Doing work without a permit may save money, but it’ll cause problems when you resell your home.
- Decide if you want to get the permits yourself or have the contractor arrange for them. Getting permits can be time-consuming and frustrating. Inspectors may force you to do additional work, or change the way you want to do a project, before they give you the permit.
- Factor the time and aggravation of permits into your plans.
4. Double check pricing on structural work.
If your fixer-upper home needs major structural work, hire a structural engineer for $500 to $700 to inspect the home before you put in an offer so you can be confident you’ve uncovered and conservatively budgeted for the full extent of the problems. Get written estimates for repairs before you commit to buying a home with structural issues. Don’t purchase a home that needs major structural work unless:
- You’re getting it at a steep discount
- You’re sure you’ve uncovered the extent of the problem
- You know the problem can be fixed
- You have a binding written estimate for the repairs
5. Check the cost of financing.
Be sure you have enough money for a down payment, closing costs, and repairs without draining your savings. If you’re planning to fund the repairs with a home equity or home improvement loan:
- Get yourself pre-approved for both loans before you make an offer.
- Make the deal contingent on getting both the purchase money loan and the renovation money loan, so you’re not forced to close the sale when you have no loan to fix the house.
- Consider the Federal Housing Administration’s Section 203(k) program, which lets qualified purchasers wrap up to $35,000 into their mortgages to upgrade their home before they move in.
6. Calculate your fair purchase offer.
Take the fair market value of the property (what it would be worth if it were in good condition and remodeled to current tastes) and subtract the upgrade and repair costs. For example: Your target fixer-upper house has a 1960s kitchen, metallic wallpaper, shag carpet, and high levels of radon in the basement. Your comparison house, in the same subdivision, sold last month for $200,000. That house had a newer kitchen, no wallpaper, was recently re-carpeted, and has a radon mitigation system in its basement. The cost to remodel the kitchen, remove the wallpaper, carpet the house, and put in a radon mitigation system is $40,000. Your bid for the house should be $160,000. Ask your real estate agent if it’s a good idea to share your cost estimates with the sellers, to prove your offer is fair.
7. Include inspection contingencies in your offer.
Don’t rely on your friends or your contractor to eyeball your fixer-upper house. Hire pros to do common inspections like:
- Home inspection. This is key in a fixer-upper assessment. The home inspector will uncover hidden issues in need of replacement or repair. You may know you want to replace those 1970s kitchen cabinets, but the home inspector has a meter that will detect the water leak behind them.
- Radon, mold, lead-based paint
- Septic and well
- Pest Most home inspection contingencies let you go back to the sellers and ask them to do the repairs, or give you cash at closing to pay for the repairs. The seller can also opt to simply back out of the deal, as can you, if the inspection turns up something you don’t want to deal with. If that happens, this isn’t the right fixer-upper house for you. Go back to the top of this list and start again.
If you’re in the market to buy or sell a home or facing a financial challenge and need to short sale your home, please give me a call at 832-5786-4902.
some information provided by: houselogic.com
What are they waiting for?
I’m always amazed when I start looking over the pre-foreclosure statistics of my market area and see how many homes are headed to auction. In Spring Texas alone there are 512 homes scheduled to auctioned off tomorrow.
The sad reality is, based on a small, non-discriminate sampling of these homes, less than 15% of these homeowners tried to mitigate their loss and put their home on the market and less than 50% of these tried to short sale their home.
I’m not sure why there is a lack of action on the part of homeowners that are facing this type of hardship, perhaps they really just don’t understand that they have options, or know where to find help (someone that can discuss those options with them), but I find it very sad that this seems to be a consistent trend in our current market.
I hear it said often; that homeowners in this situation most likely don’t contact someone for help, because they are embarrassed! Embarrassed…why? There is no reason to be, Things happen that we have no control over, people lose their jobs regularly, they don’t plan to, it just happens, People get sick, lose loved ones, their mortgage payments skyrocket…we can’t always plan for these things, we can’t predict the future. Unexpected things happen to all of us, and when they do, it’s definitely not something we should be embarrassed about.
Not taking action at a time like this will cause you even more difficulties in the future. A foreclosure is so much more damaging then a Short Sale. Contact me and I’ll send you a list of the differences so you can see for yourself.
If you have recently found yourself in a financial situation where foreclosure seems probable, don’t wait until it’s too late, like these folks did. Tomorrow their homes will be sold at auction and they will forever carry the stigma of a foreclosure on their record.
Call today, I can help 832-576-4902, you can also reach me at Kimberly@rrea.com
The “embarrassment” you overcome today could change your financial future forever, Take action……As a Certified Distressed Property Expert, I have to knowledge and tools necessary to navigate through the very challenging process of Short Sales. I really can help!
Mortgage Forgiveness Explained
Many people don’t fully understand the ramifications of Foreclosure and Short Sale Debt Forgiveness. It is recommended that you seek guidance from an accountant or attorney before you proceed with any kind of short sale or pre-foreclosure process. To determine what you could potentially be held accountable for after you sell your home as distressed.
As a CDPE- Certified Distressed Property Expert I work diligently to make ensure that my clients know all the facts up front and will not have to worry about an added “got ya”, after they have already gone through one of the difficult situations in their life. Understand the facts, and if the following doesn’t help, give me a call. I would be happy to steer you in the right direction. 832-576-4902
The Mortgage Forgiveness Debt Relief Act and Debt Cancellation
If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable.
The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.
This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition.
More information, including detailed examples can be found in Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments. Also see IRS news release IR-2008-17.
The following are the most commonly asked questions and answers about The Mortgage Forgiveness Debt Relief Act and debt cancellation: (more…)
Do You Qualify for a FHA/HUD Preforeclosure?
Qualifications for an FHA/Hud foreclosure are very similar to the requirements for a short sale, but there are some differences.
Eligibility requirements include:
- Property must me owner occupied (you must still live in the home unless you provide a verifiable reason why you have already vacated (ie job loss, job transfer, divorce).
- The property must be your primary residence (no investment properties)
- The homeowner must be 31 days or more delinquent on their mortgage at the time of closing.
If you find yourself in a hardship situation that requires a short sale or Pre-foreclosure sale, and need help I can you get through the process as a Certified Distressed Property Expert I have the the tools and knowledge to help get the deal closed.
Following is some excellent information and Q&As provided by HUD:
Question 1: When submitting a PFS Variance for approval, what items need to be attached to a PFS Variance?
Answer: Depending on the type of Variance, the Mortgagee may need to submit the HUD-1 Settlement Sheet, the first three (3) pages of the FHA “As Is” Appraisal, and/or Hardship Letter.
Question 2: Previous HUD-1 Settlement Sheets have been submitted to NSC, only for NSC to deny the Variance due to buyer or seller receiving cash at the PFS closing. Please provide guidance.
Answer: The HUD-1 Settlement Sheet is to be “completely” filled out, providing both the buyer’s and seller’s costs and fees. Neither the buyer nor seller is to walk away from the PFS closing with “cash.” The seller, if applicable, may be eligible for the Seller Incentive, but even the Incentive is “not” to be reflected as a payment of cash on the HUD-1.
(more…)
“Pumpkin Patch” in Ponderosa Forest
Every year for the last 40 years Ponderosa Forest has had a Fall Carnival known to the residents as “Pumpkin Patch”. This years event was today (October 31, 2010). With the cooler weather, you couldn’t have asked for a better day to hold a festival.
With too many activities for the kiddos to count, some of the most popular were Face Painting, Cake Walk Confetti Eggs, Bouncy House and the traditional Silent Auction with dozens of items to bid on. The event is hosted every year by the Ponderosa Forest PTO. As always all the Auction items are donated by Residents and Businesses that surround the neighborhood, and there were some really great items this year including gift baskets to movie tickets to a 4 day getaway in Colorado. I personally won a $50 gift certificate for veterinary services, which came just in time since my dogs are due for their annual shots.
The proceeds from ticket sales and auction winnings will benefit the Ponderosa Elementary School, so it’s a win-win for everyone. I can’t think of a better way to raise money and awareness. Neighborhood participation was amazing, hundreds of residents turned out this year, the little ones were able to get a jump start on their Halloween gear and a great time was had by all.
(more…)
Short Sales: The Facts
I recently read an article that contained some excellent information about Sort Sales and how they work. Since I have been asked by any people over the course of the last few months about Sort Sales, I thought I would share what I found.
Short Sales Explained:
As many as 25 percent of homeowners nationally owe more on their mortgages than what their property is worth. The Mortgage Bankers Association reports that approximately 4.2 million homeowners missed at least one month’s payment during the second quarter of 2010, and more than two million were in foreclosure by the end of the quarter.
Between four and five million mortgages are in difficulty, with the prospect of foreclosure filings reaching three million in 2010. Short sales are a growing trend among lenders and homeowners seeking to avoid foreclosure.
In a short sale, the lender agrees to accept the sale’s net proceeds as complete payment for the existing debt, even if it is “short” of the full amount.
Short Sale Basics
A short sale, also known as a pre-foreclosure sale, is a transaction in which the lender (or lenders) agrees to accept the proceeds of the sale in lieu of the total debt owed by the current homeowner. By definition, the net sale price in a short sale will be less than the total debt balance and the lender(s) may or may not forgive the difference. The current owner/seller receives none of the proceeds of a short sale, which go entirely to pay off the debt(s) on the property. Owners may favor a short sale rather than a foreclosure because of the potentially reduced impact on their credit ratings and their personal financial conditions. A short sale can be initiated even after posting of a Notice of Trustee Sale but before the actual foreclosure sale.
Short sales are a viable option when the current homeowner cannot qualify for a loan modification or refinance, if the property will not sell for enough to cover the existing loan and if there are no other prospects to pay the mortgage. In such cases, foreclosure is highly probable or imminent.
A “strategic” short sale, that is, if the owner has the capacity to make the mortgage payments but chooses not to because the loan is greater than the current value, is not really an option. (more…)
Subscribe
Subscribe to our e-mail newsletter to receive updates.
Connect with us!