Register Real Estate Advisors

On Tuesday, November 10th I will be holding open three of my listings in the Spring Lakes Subdivision.  You can preview the listings at BuySpringLakes.com.  They vary in floorplans and prices.  I hope you’ll come out to visit all three.  To get directions visit BuySpringLakes.com. 

415 Spring Lakes Haven Spring, Texas 77373

25707 Serene Springs Lane Spring, Texas 77373

25518 Myrtle Springs Spring, Texas 77373

See you Tuesday!

WASHINGTON (Associated Press) – Nationwide, sales of new homes fell 3.6 percent to a seasonally adjusted annual rate of 402,000 from August to September, according to the Commerce Department.

Last month’s decline was the first since March and was off 7.8 percent from a year ago. However, the market has improved 22 percent from its bottom in January.

The median sales price of new homes, $204,800, was down 9.1 percent from September 2008, but up 2.5 percent from August’s $199,900.

Sales declined nearly 11 percent in the West and 10 percent in the South while they remained unchanged in the Northeast and increased 35 percent in the Midwest.

What to learn more about real estate terms?  Check out the glossary on my website.  I offer a real estate dictionary, construction terms, and abbreviations on house plans.

Let me start by telling you how NOT to pick a real estate agent. Do not call a real estate company and pick the first agent that answers the phone. Don’t let a relocation company assign an agent to you.

Is that how you’d pick a doctor, a dentist, or even an item you’re buying?

There are many real estate companies and many real estate agents. All agents are not Realtors.  Only Realtors are members of the National Association of Realtors.  Carefully select the agent you are going to use. Buying or selling a home is a big decision. Selling is the most important because how the agent markets your home will be the difference between selling and sitting on the market showing and never selling. After your home sits on the market for a year without selling, it becomes increasingly harder to sell and you are most likely not going to maximize your value after sitting on the market for over a year.  Plus, you’re going to be really frustrated!  Do some homework on the internet and figure out who specializes in your area. If you are moving out of town, ask a trusted Realtor for a referral to an agent that specializes in the market you are moving to.

It amazes me how many people walk into a builder’s model home and look at what they offer and pick a house and sign a contract. STOP! You have no representation when you do that. You have no one looking out for your best interest or reading the fine lines in the contract or negotiating a better deal for you or asking hard questions on your behalf.

The reputation, distrust and dislike for Realtors in our culture pains me. Unlike car sales man and investment bankers, we actually have to follow a strict code of conduct. We actually have a duty to disclose information to our clients.  We have to follow high standards, but it is our service that varies between agents.

When you need a Realtor there are several things you should think about. First, why do you need a Realtor? If you are a buyer your main concerns should be with finding an agent that knows the market where you are moving and can find you the property that meets your search criteria. If you are a seller, you will want a Realtor that can price the house right, has an outstanding marketing plan and negotiating skills. You want that Realtor to get your home sold in the least amount of time and maximize your value.  Ask them about their Realtor designations, education level, continuing education, their broker, their communication style, availability, and what services they can offer you.  Negotiating skills are also very important.

Many real estate companies have a phone desk at their office where people call in about houses and agents are answering the phone. I sit on “property desk” a few hours every month.  Sometimes buyers call in, they make an appointment, and we go see the property. Then they buy it. They just randomly called in and happened to get a me – a good agent.  But there are bad agents out there and I always think about the fact that they could have gotten a bad agent. You want an agent that will truely represent your needs and work for you in your best interest.  You want someone that will keep you updated and stay in communication.  Buying or selling a home is a big decision. Don’t leave it to chance. Choose a Realtor that you will enjoy working with that has been educated and is a leader in the real estate industry.

Nomatter where you live, if you need help choosing a good agent, call me. I can help you find a good agent nomatter where you live or where you’re moving to. I have built a great network of Realtors that I trust to take great care of my clients. If you are buying or selling in The Woodlands, Spring, or anywhere in Northwest Houston, I’d like to help you about your real estate needs. Google my name and read about me on my website.  I offer informative videos, information, news, and you can search the entire Houston Multiple Listing Service on my site.  I want you to have the best real estate representation you can get, so don’t leave your home buying and selling to chance.  Call me today to see how I can help you Buy or Sell.

832.628.SELL – Direct  

Sellers, Check out BuyandSellwithShannon.com/Sell
Buyers, Check out BuyandSellwithShannon.com/Buy

Below are 20 Steps that you will go through in the Home Buying Process. I got this outline from a pamphlet that is distributed by the First American Title Company and then added to it to make it my own. It’s great information whether you are a first time home buyer or buying your retirement home. Some peope buy many homes over a lifetime and are still in the dark about many aspects of the transaction. I like for my clients to be informed so they know what is going on at all times.

1. Find a Realtor to represent you. If you’re buying or selling in my area of expertise, I can help you with the transaction. If you are buying or selling outside of my area, then I would like to refer you to an excellent agent in your area. Don’t just call a company and ask for an agent. Get a good one. Get one that you can trust to represent your needs. Buying and selling a home is a big deal and might be your biggest asset. Do some homework and find a good agent. I am a good agent and only refer out to agents that are well trained and experienced.

2. Get a Pre-Approval from a Lender. Again, be selective about the lender. Do some research or get a good referral. You don’t want to get to the closing day and your deal bust because of your lender. Real Estate agents work with lenders daily. Ask me for a referral. I know many lenders. I’ve used several. I have my favorites that take good care of my clients. I want you to get taken care of. I want you to be able to close on the house that I help you select and negotiate on. I don’t want to have to go back and search for another house any more than you do. I don’t want you to lose your earnest money because your lender can’t get your loan through underwriting on time. I want to refer you to a mortgage lender that I know will take good care of my client. If you know of a good mortgage lender, then you can use them. Regardless, you’re going to need a Pre-Approval so you and I know what price range to look in. Also, when we make an offer, we want the seller to take his house off the market for you to do inspections and he is not going to be willing to do that without your Pre-Approval.
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COLLEGE STATION (Texas AgriLife Extension Service and AgriLife Research) – Anyone with a green thumb, an entrepreneurial spirit and a little land can produce and sell vegetables, fruits, nuts, and greenhouse and nursery products. All it takes is a little know-how.
That’s where AgriLife Extension’s Small Acreage Horticultural Crops program comes in.
“This program is designed to help small-scale producers in rural and suburban areas become more knowledgeable in identifying and planning ways to diversify their operations in a sustainable way,” said Dr. Joseph Masabni, who was involved in the program’s creation.
The free program will be offered by AgriLife Extension agents in various Texas counties beginning this fall. The initiative will include two webinars, one on Nov. 18 and another on April 13.
Experts will talk about site selection, marketing and economic considerations, and specifics on production for a variety of potential crops. Topics will also include how likely the produce is to sell in various markets, the best season and location for growing certain crops, and the labor and equipment required.
For more information, visit the program’s website.

AUSTIN (Austin American-Statesman http://www.statesman.com/business/content/business/stories/other/2009/10/02/1002homestarts.html ) – Central Texas’ new-home market might be bottoming out, according to Residential Strategies Inc. and its third-quarter starts and closings figures, released Thursday.  Third quarter home starts were down 5.4 percent from the same quarter last year to 2,239 but up 17 percent from second quarter 2009.  “This is a positive sign and perhaps a signal that the successive quarterly decline in activity may be coming to an end,” said Ted Wilson, a partner with Residential Stategies.

HOUSTON (Urban Land Institute Houston) – Urban Land Institute (ULI) Houston and the Real Estate Center will have their annual Economic Forecast Conference at the Hilton Americas Nov. 11.
The half-day conference delivers the most current intelligence about market forces driving investment and development in the greater Houston area.
Following a keynote address from Joe Griffith of JPMorgan Chase Bank, the Center’s Chief Economist Dr. Mark Dotzour will moderate an economist panel consisting of Angelos Angelou of Angelou Economics, Bill Gilmer of the Federal Reserve Bank of Dallas and Jefferson Duarte of Rice University.
A local response panel moderated by Jones Lang LaSalle Houston President Dan Bellow will follow. The panel will include Dan Pickering of Tudor, Pickering & Holt; John Kajander of the Texas Medical Center; and Eric Potts, representing the Houston Airport System.
More information is available on ULI Houston’s website

From the Dallas Morning News:

Value of Dallas-Fort Worth area commercial properties have declined, and as a result, a rising number are facing foreclosure.  “Every commercial real estate building in the nation has lost 30 percent of its value,” said Dr. Mark Dotzour, chief economist for the Real Estate Center at Texas A&M University. “And the buildings in this town have been impacted.”   The number of commercial real estate deals posted for foreclosure has grown more than 10 percent so far this year. Industry leaders worry this is just a preview of what is to come.  “The vast majority of buildings bought after 2005 are absolutely not worth the debt,” said Paul Whitman, president of commercial real estate firm Jones Lang LaSalle’s Dallas office. “Don’t be shocked that there will be hundreds of millions of dollars in foreclosures in commercial real estate in 2010.”  Whitman and Dotzour said lenders are in many cases delaying commercial foreclosures and repricing properties.  Watch for “Bad for Business: Commercial Real Estate Faces Uphill Climb,” coming in the October issue of Tierra Grande http://recenter.tamu.edu/tgrande magazine, the Real Estate Center’s quarterly journal. It will be posted on the Center’s website in early November.

Only 96 days left to purchase a home using the New Home Buyer $8,000 Tax Credit.  There is talk of extending it past December 1st, but that’s not definite yet.  From the time you execute the contract you will need to allow at least 30 days until closing.  Some transactions are taking 45 days.  If you haven’t found a Realtor and started looking, don’t delay any longer.  I believe it’s the best gift Uncle Sam has ever given a home buyer.  Call me today so we can get started - 832.628.SELL.