Register Real Estate Advisors

COLLEGE STATION (Real Estate Center) – Chief Economist Dr. Mark Dotzour is crisscrossing the nation delivering his economic message and collecting valuable data for the Real Estate Center at Texas A&M University.
Among the comments he heard this week at meetings of the National Association of Business Economics in Washington, D.C., were:
• “Clearly there is virtually no threat of inflation in the next two years.”
• “There’s virtually no chance of the Fed increasing interest rates (maybe a symbolic small move aside).”
• “The last recession, the Fed waited until unemployment was 5.5 percent before tightening.”
• “We won’t get to that level for several years.”
• “The threat is for deflation across the globe, with the exception of China.”
• “China’s money supply is up 30 percent from last year. Our M3 (the Fed’s measure of the money supply) is virtually unchanged from a year ago, and available credit is less than last year.”
“The Congressional Budget Office said the United States is going to be unable to pay for the social contract with America,” said Dotzour. “It’s only a matter of when and how the adjustments for failed promises have to take place. Medicare, Medicaid and Social Security cannot be funded at current levels of spending.”

1. Get rid of clutter. Throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items. Store out-of-season clothing to make closets seem roomier. Clean out the garage.

2. Wash your windows and screens to let more light into the interior.

3. Keep everything extra clean. Wash fingerprints from light switch plates. Mop and wax floors. Clean the stove and refrigerator. A clean house makes a better first impression and convinces buyers that the home has been well cared for.

4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows.

5. Put higher wattage bulbs in light sockets to make rooms seem brighter, especially basements and other dark rooms. Replace any burnt-out bulbs.

6. Make minor repairs that can create a bad impression. Small problems, such as sticky doors, torn screens, cracked caulking, or a dripping faucet, may seem trivial, but they’ll give buyers the impression that the house isn’t well maintained.

7. Tidy your yard. Cut the grass, rake the leaves, trim the bushes, and edge the walks. Put a pot or two of bright flowers near the entryway.

8. Patch holes in your driveway and reapply sealant, if applicable.

9. Clean your gutters.

10. Polish your front doorknob and door numbers.

Reprinted from REALTOR Magazine Online by permission of the National Association of Realtors, Copyriht 2005, All rights reserved.

WASHINGTON, D.C. (Associated Press) – Homeowners have received another year to refinance their loans under the Home Affordable Refinance Program, the Federal Housing Finance Agency announced yesterday.
The program, which was originally scheduled to end June 10 but now expires June 30, 2011, allows borrowers who owe up to 25 percent more than their homes are worth to refinance at lower interest rates.
The Treasury Department reports that, so far, the program has helped about 220,000 homeowners with loans owned or guaranteed by Fannie Mae and Freddie Mac, far less than the projected four to five million.

Just 5 miles from Sugarland and 1 mile from Katy, you are guaranteed to fall in love with this one story, open floorplan, three bedroom, two bath home in Grand Mission inside of the Sonoma Ridge Division. An excellent value, it has been well maintained since it was built in 2005. Fully upgraded from the builder’s standards, this home includes granite countertops, premium carpet, crown molding, hardwood & tile floors, and a custom built mahogany front door. The lighting, mirrors, and faucets have also been upgraded. The kitchen includes stainless steel appliances, built in microwave, tiled backsplash, a butler’s pantry, and huge island. The master bathroom has elevated height on the double sinks, a separate shower and garden tub. The home has both a study and a game room. It has been custom painted with warm and pleasing colors. For energy efficiency, it has a tech shield roof. This home is situated on a huge lot with a covered back patio ideal for entertaining. You will never have neighbors behind you. The entire home is surrounded with brick. The Home Owner’s Association dues are $750 annually and that includes alarm monitoring. The water softener is leased for $24.98 per month. The community offers miles of walking & biking trails, pools, water park, a clubhouse, gym, and more. (more…)

AUSTIN (National Real Estate Investor) – U.S. businesses are hoarding cash instead of helping revitalize the down economy through spending and hiring, says Dr. Mark Dotzour.
The Real Estate Center’s chief economist shared his thoughts on why at CCIM Central Texas’ symposium in Austin Tuesday.
“We are used to thinking of the federal government as the solution to these problems for economic growth and they have rapidly become the source of the problem because of the uncertainty that they have created for business people,” Dotzour said.
Take taxes, for instance.
Although proposals to raise the capital gains tax from the current 15 percent to 24 percent have been scaled back to 20 percent, Dotzour said even that hike would reduce initial returns on investments in commercial real estate. That threat of a bigger tax hit will influence many potential buyers to postpone acquisitions until a definite rate is set and can be factored into purchase prices.
Dotzour also said worries about higher income tax rates, increasing energy costs as a result of cap and trade legislation, and the potential impact of health-care reform proposals are weighing on the minds of business owners and would-be entrepreneurs.
For more on what Dotzour had to say, read the National Real Estate Investor article.

Make your home more appealing for potential buyers with these quick and easy tips.

1.  Trim bushes so they don’t block windows and cute down on light.

2.  Buy a new doormat.

3.  Put a pot of bright flowers (or a small evergreen in winter) on your porch.

4.  Put new doorknobs on your doors.

5.  Put a fresh coating on your driveway.

6.  Edge the grass around walks and trees.

7.  Keep your garden tools out of sight.

8.  Be sure kids put away their toys.

9.  Buy a new mailbox.

10.  Upgrade the outside lighting.

11.  Use warm, incandescent light bulbs for a homey feel

12.  Polish or replace your house numbers.

13.  Clean your gutters.

14.  Put out potpourri or burn scented candles.

15.  Buy new pillows for the sofa.

16.  Buy a flowering plant and put it in a window you pass by frequently.

17.  Make a centerpiece for your table with fruit or artificial flowers.

18.  Replace heavy curtains with sheer ones that let in more light.

19.  Buy new towels.

20.  Put a seasonal wreath on our door.

Reprinted from REALTOR Magazine Online by permission of the National Assocaiation of REALTORS.  Copyright 2005.  All rights reserved.  http://www.REALTOR.org/realtormag

As well as helping people buy and sell properties, I also help families lease homes.  I often refer them to my rent vs. buy calculator so they can see that owning a home does not cost much more than renting a home.  Why pay someone else’s mortgage for them?  There are many reasons to own your own home. 

First of all, when you own your own home you can take advantage of tax breaks.  You can deduct the interest you pay on your mortgage and property taxes.  Houses usually appreciate in value over time, so you gain equity.  Now I know right now houses in most areas are not appreciating, but in general, usually houses do appreciate over time.  When you pay rent, you lose that money.  But when you purchase a home, part of that monthly payment goes towards your equity in the home.  Through the years, you will gain equity and pay down the mortgage.  Usually, after 30 years people can own their homes free and clear.  Building equity is like a savings plan for most homeowners.  If they need money, they can take out a home equity loan and use the equity to make purchases when needed.  Also, your mortgage payments do not increase over the years unless you have an adjustable rate mortgage.  Many landlords do increase rent yearly.  When you own a home you have the freedom to make whatever decorating changes you want. 

There are many reasons to purchase a home instead of renting or leasing a house.  Right now, first time home buyers can take advantage of the $8,000 tax credit.  That is free money from the government that won’t be around much longer – it ends this April.  If you would like to explore your options in home ownership, please call me today so we can get started.  I have helped many renters enjoy the opportunity of home ownership and that is what makes my job as a REALTOR so exciting!

1.  Price it Right.  Set a price at the lower end of your property’s realistic price range.

2.  Get your house market-ready for at least two weeks before you begin showing it.

3.  Be flexible about showings.  It’s often disruptive to havea  house ready to show on the spur of the moment, but the more often someone can see your home, the sooner you’ll find a seller.

4.  Be ready for the offers.  Decide in advance what price and terms you’ll find acceptable.

5.  Don’t refuse to drop the price.  If your home has been on the market for more than 30 days without an offer, be prepared to lower your asking price.

Reprinted from REALTOR Magazine Online by permission of the National Association of REALTORS.  Copyright 2005.  All rights reserved.  http://www.REALTOR.org/realtormag

According to Rob Cook, the 2009 MLS Chairman and the Houston Association of Realtors, we met a few milestones back in August and I wanted to share them with you.  The median price for a single-family home rose for the 4th straight month to the 3rd highest level of 2009 ($160,880.00).  The average price of a single-amily home reached its 3rd highest level of the year ($213,396.00).  Month-over-month volume of single-family home sales reached the 3rd highest level of 2009.  Month-over-month volume of townhouse/condominium sales reached the 3rd highest level of 2009.  Month’s inventory of singel-family homes dipped from 6.7 to 6.5 months compared to the national average of 9.4 months.  This is all good news for the housing market that I wanted to share with you as you are making real estate decisions as we head into 2010.

HOUSTON (Houston Business Journal) – Area home prices hit a seven-month high in April amid the area’s 20th consecutive monthly fall in the number of single-family home sales.

The average sale price of a single-family home slipped 5.8 percent in April to $194,222 from $206,239 in April 2008, according to the Houston Association of Realtors. However, the figure is at its highest level since September.

Additionally, demand for single-family rentals increased again last month.