Tag Archives: RE/MAX Integrity

Relocating to Houston?

Moving to the Houston area?  I would like to be the first to welcome you and assist you with all of your real estate needs whether you are moving to Houston, The Woodlands, or Spring, Texas.  As a relocation specialist, I can help you sell your current property anywhere in the world and find a new one in this area.  As a RE/MAX agent, I help relocate families all over the globe.  Please call me today and I will be happy to send you a copy of the Houston Newcomer Guide.  It will help you narrow your search area and give you a lot of helpful information about the communities in the surrounding area.  I would like to help you with all of your relocation needs and my website offers a wealth of information.  You can search the entire Houston MLS database on my website and see my featured listings, too.  You can read my award winning blog and catch up on all the latest housing news.  Please call me today so we can get started.  When you talk to your human resources coordinator, please ask for me by name!  Shannon Register 832.628.SELL

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What Do Today’s Homebuyers Want?

COLLEGE STATION (Real Estate Center) – In today’s economy, home builders must pay close attention to what buyers say they prefer in a new home. The Real Estate Center’s latest video, “What Homebuyers Want in 2010,” features two experts with perspectives on buyer preferences.

 Rose Quint is assistant vice president with the Survey Research Economics and Housing Policy Group for the National Association of Home Builders. Eliot Nusbaum is executive editor of Better Homes and Gardens.

 This 14-minute video was taped at the 2010 International Builders’ Show in Las Vegas.

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Texas’ Job Loss Rate Decreasing

COLLEGE STATION (Real Estate Center) – Both the U.S and the Texas labor markets hit bottom in August 2009 and since then have been losing jobs at decreasing rates. Texas’ job loss rate has decreased from 4 percent in August 2009 to 2.3 percent in February 2010. Over the same period, the U.S. job loss rate has decreased from 5 percent to 2.5 percent.

The state’s seasonally adjusted unemployment rate rose from 6.8 percent in February 2009 to 8.2 percent in February 2010, while the U.S. rate rose from 8.2 percent to 9.7 percent during the same period.

Only one Texas industry, education and health services, and the government sector had more jobs in February 2010 than in February 2009. Ten other industries experienced net job losses over the same period.

Four Texas metro areas had positive employment growth rates from February 2009 to February 2010. They were College Station–Bryan, Killeen–Temple–Fort Hood, Waco and McAllen-Edinburg-Mission. Twenty-two metro areas had net job losses.

The state’s actual unemployment rate in February 2010 was 8.3 percent. Amarillo had the lowest unemployment rate followed by Midland, College Station–Bryan and Lubbock.

The Real Estate Center’s complete monthly Texas economic review is available online.

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What You Need to Know About Phasing Out R-22 Refrigerant

Frequently asked questions about the phasing out of R-22 refrigerant, as mandated by the Clean Air Act and regulated by the U.S. Environmental Protection Agency (EPA).

What is R-22?
R-22 (also known as HCFC-22) is a refrigerant commonly used in air conditioning equipment and other applications. It is a type of manmade chemical known as hydrochlorofluorocarbons (HCFCs).

Why is it being phased out?
The release of HCFCs and other manmade chemicals into the atmosphere have depleted the Earth’s protective ozone layer and created an “ozone hole” over the South Pole. Restricting and eventually banning the production and use of HCFCs and other ozone-depleting chemicals will allow the ozone layer to eventually return to its normal level. Scientists estimate that with a worldwide phaseout of ozone-depleting substances, the ozone layer will recover by about 2075.

The phaseout of R-22 is part of a worldwide initiative, the Montreal Protocol on Substances that Deplete the Ozone Layer, to end the use of all ozone-depleting chemicals.

Why is the ozone layer important?
The Earth’s ozone layer protects the planet from the sun’s harmful ultraviolet radiation. Depletion of this shield means more radiation reaches the Earth’s surface where it can harm people and ecosystems.

What will replace R-22?
The most common non-ozone-depleting refrigerant in use today is R-410A, known by trade names PURON, SUVA 410A and GENTRONAZ-20.

When does the phaseout of R-22 begin?
In the United States, the phaseout begins on January 1, 2010, when the U.S. bans production and import of R-22 for new equipment only. This means that all new air conditioning equipment produced in or imported to the U.S. must use R-410Aor another alternative refrigerant. R-22 can still be produced or imported for servicing of existing equipment.

How is the phaseout structured?
There are four major steps to the phaseout of R-22:

  • 2010 – Ban on production, import and use of R-22 and HCFC-142b, except for continuing servicing needs of existing equipment.
  • 2015 – Ban on production, import and use all HCFCs, except for continuing servicing needs of refrigeration equipment.
  • 2020 – Ban on remaining production and import of R-22 and HCFC-142b. After 2020, the servicing of systems with R-22 will rely on recycled or stockpiled quantities.
  • 2030 – Ban on remaining production and import of all HCFCs.

Why is the phaseout over such a long period?
The phaseout has been designed to allow adequate time to switch to ozone-friendly refrigerants as part of normal equipment replacement, so consumers and businesses can avoid having to replace equipment that still has useful life.

R-22 is used in numerous commercial and industrial applications, but for homeowners the most direct impact of this phaseout is in home air conditioners and heat pumps.

Can I still use my R-22 equipment?
Yes. There is no ban on the use of R-22 equipment made before January 1, 2010. You are not required to replace existing equipment.

Can I still repair existing R-22 equipment?
Air conditioners, heat pumps and other systems that use R-22 may still be serviced, maintained and repaired, and R-22 will still be available for use in equipment made before 2010.

Can R-22 be mixed with R-410A in a system?
No. R-410Acan only be used in a system designed for the higher pressures and unique characteristics of this refrigerant.

Can R-22 equipment be modified to use R-410A?
It is possible to switch to R-410A or another alternative refrigerant in an existing R-22 system, but this requires significant modifications of the equipment.

Can I still purchase an R-22 system?
There is no ban against purchasing systems using R-22, but after December 31, 2009 manufacturers are no longer permitted to produce or import R-22 systems.

How do costs compare between R-22 and R-410A equipment?
Currently, a new R-410Asystem is slightly more expensive than a comparable R-22 system. Other factors should be considered, including the long-term cost and availability of R-22 refrigerant and parts, energy efficiency, performance and reliability.

How does the energy efficiency compare between R-22 and R-410A equipment?
There are both R-410Aand R-22 systems that qualify for the ENERGYSTAR

H rating, which means the system is at least 14% more efficient than a standard new system. However, R-410Asystems offer the additional advantage of using a non-ozone-depleting refrigerant. How will the phaseout affect R-22 equipment repairin the future? As the phaseout continues, R-22 refrigerant will become more scarce and parts will be less common. This means service and maintenance of these systems is likely to be increasingly more expensive and less convenient in years to come.

How can I minimize the impact on the ozone layer with my existing R-22 system?
The most important thing you can do is maintain your equipment. Major leaks rarely develop in properly installed and maintained equipment. However, it is necessary to service your system properly to minimize environmental damage and maintenance costs. Be sure to select a reliable service contractor who is EPA-certified to service equipment containing R-22.

How will the phaseout affect R-22 equipment replacement in the future?
Since R-22 equipment cannot be manufactured or imported after January 1, 2010, the availability of new R-22 systems will decrease each subsequent year. Of course, R-410Asystems will be available as replacements.

Are R-410Asystems available now?
Yes. Systems that use R-410Aor other non-ozone-depleting alternative refrigerants are available now and will become increasingly common.

Are service contractors trained to work on R-410A systems?
Yes. Service contractors repairing and installing R-22 systems today should be technically capable of R-410Arepair and installation as well. As the new systems become more common, more contractors will be familiar with them. However, it is a good idea to make sure that the dealer or contractor you use is trained in the installation and service procedures required for R-410Aequipment.

When will R-22 no longer be available for purchase?
R-22 will continue to be manufactured and imported until 2020 for service of existing equipment. After 2020, only recycled or reclaimed R-22 will be available. It is difficult to predict when supplies will run out, but the EPA anticipates that supplies should be available until most R-22 equipment is retired.

Will R-22 equipment parts continue to be available?
No manufacturers have announced plans to stop producing R-22 repair parts. However, availability of parts in the future will be determined by normal market conditions.Can R-410Abe used in an R-22 system? R-410Acannot be used in an unmodified R-22 system, because it requires equipment designed for the higher pressures and unique characteristics of R-410A. Although it is possible to update an R-22 system for R-410Arefrigerant, the modifications are significant and often cost-prohibitive.

Can recovered R-22 be used again?
Yes. Under special circumstances, EPA regulations allow equipment to be recharged with recovered refrigerant – meaning refrigerant removed from the appliance and stored in an external container without testing or processing.

If the refrigerant is to be used in equipment with different ownership, it must be reclaimed or recycled. Reclaiming means reprocessing the refrigerant to meet industry standards with specialized machinery not generally available at a job site or repair shop. Recycling means extracting it and cleaning it for reuse without meeting the requirements for reclamation.

What is the proper way to dispose of R-22?
Recovered HCFC refrigerants including R-22 should be sent to an EPA-certified refrigerant reclaimer. Only EPA-certified reclaimers may reclaim and sell used refrigerants to a new owner. Contractors may also send HCFC refrigerants to be destroyed. They must be completely destroyed at a destruction efficiency of 98% or greater, using one of the approved destruction technologies. In the United States, incineration technologies are most commonly used for this purpose.

If I am an AHS Home Warranty customer, what will the R-22 Phase Out mean to me?
Since the R-22 refrigerant will be phased out gradually, AHS will continue to repair and replace with R-22 systems until the parts and systems are no longer available, within the EPA’s mandated guidelines. When the supply inventory of R-22 related parts and systems have depleted and it is necessary to replace with R-410Arefrigerant systems, American Home Shield will cover the cost to replace the air conditioner and its modifications necessary by the transition from R-22 to R-410A refrigerants. (Refer to the air conditioning section of the warranty contract for coverage details.)

This information is courtesy of American Home Shield Warranty.

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National and State Mortgage Rates Rise Over Past Week

National and State Mortgage Rates Rise Over Past Week; Current 30-Year Fixed Rate Is 5.08%, According to Zillow® Mortgage Rate Ticker

SEATTLE, April 6 /PRNewswire/ — The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 5.08 percent, up fifteen basis points from 4.93 percent compared to this same time last week. The 30-year fixed mortgage rate rose last week, spiking Sunday at 5.14 percent before falling to 5.05 percent Monday.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO)

Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.

The rate for 15-year fixed home loans is currently 4.37 percent, while the rate for 5-1 adjustable-rate mortgages (ARM) is 3.68 percent.

The total volume of mortgage requests in the past week was down 11 percent from the prior week. Of last week’s requests, 25 percent were for refinance loans, 73 percent were for purchase loans and 2 percent were for home equity loans. The prior week, 29 percent of requests were for refinance loans, 69 percent were for purchase loans and 2 percent were for home equity loans.

Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: www.zillow.com/Mortgage_Rates.

   
             
  State Current 30-Year Fixed Rate (4/06/10) Last week’s 30-Year Fixed Rate (3/30/10) Change in Basis Points    
  California Mortgage Rates 5.03% 4.91% +12    
  Colorado Mortgage Rates 5.02% 4.91% +11    
  Florida Mortgage Rates 5.11% 5.06% +5    
  Illinois Mortgage Rates 5.16% 4.95% +21    
  Massachusetts Mortgage Rates 5.21% 5.14% +7    
  New Jersey Mortgage Rates 5.07% 4.90% +17    
  New York Mortgage Rates 5.06% 4.92% +14    
  Pennsylvania Mortgage Rates 5.05% 4.98% +7    
  Texas Mortgage Rates 5.09% 4.97% +12    
  Washington Mortgage Rates 5.13% 4.93% +20    
             
   
             

 

About Zillow Mortgage Marketplace

Zillow Mortgage Marketplace is a free, open, and transparent lending marketplace, where borrowers connect with lenders to find loans and get the best mortgage rates.  Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders.  Zillow Mortgage Marketplace also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories

Zillow is a registered trademark of Zillow, Inc.

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10 Questions to Ask Your Lender

Although FHA is the most common loan today, you will want to be sure to find a loan that fits your needs. Use these comprehensive questions to help you determine which loan is right for you.

1. What are the most popular mortgage loans you offer?
2. Which type of mortgage plan do you think would be best for us? Why?
3. Are your rates, terms, fees, and closing costs negotiable?
4. Will I have to buy private mortgage insurance? If so, how much will it cost and how long will it be required? NOTE: Private mortgage insurance usually is required if you make less than a 20% down payment, but most lenders will let you discontinue the policy when you’ve acquired a certain amount of equity by paying down the loan.
5. Who will service the loan? Your bank or another company?
6. What escrow requirements do you have?
7. How long is your loan lock-in period (the time that the quoted interest rate will be honored?) Will I be able to obtain a lower rate if they drop during this period?
8. How long will the loan approval process take?
9. How long will it take to close the loan?
10. Are there any charges or penalties for prepaying the loan?

This information is used with permission from Real Estate Checklists & Systems ( http://www.realestatechecklists.com ) . Reprinted from REALTOR Magazine Online by permission of the National Association of REALTORS, Copyright 2005, All rights reserved.

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Houston Communities 2009′s Top Sellers

HOUSTON (Houston Business Journal) – Four local communities were among the ten top-selling master-planned communities in the country last year, according to Robert Charles Lesser & Co. (RCLC) an independent real estate advisory firm.
More homes were sold in Newland Communities’ Cinco Ranch than in any other community in the country in 2009. Net sales in Cinco Ranch increased 14 percent from 775 homes sold in 2008 to 887 homes last year.
The Woodlands Development Co.’s self-named community had the second-highest number of net sales last year with 633, down 16 percent from 750 the year before.
Telfair, another Newland Communities development, was fourth. The community totaled 450 net sales in 2009, up 9 percent from 412 in 2008.
Johnson Development Corp.’s Sienna Plantations snagged the tenth spot, with 280 net sales last year, a 24 percent decline from its 369 sales in 2009.
Washington, D.C.-based RCLC surveys over 400 master-planned communities for its annual sales survey.

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5 Things to Do Before You Sell

1.  Get estimates from a reliable repair person on items that need to be replaced soon, such as a roof or worn carpeting, for example.  In this way, buyers will have a better sense of how much these needed repairs will affect their costs.

2.  Have a termite inspection to prove to buyers that the property is not infested.

3.  Get a pre-sale home inspection so you’ll be able to make repairs before buyers become concerned and cancel a contract.

4.  Gather together warranties and guarantees on teh furnace, appliances, and other items that will remain with the house.

5.  Fill out a disclosure form provided by your sales associate.  Take the time to be sure that you don’t forget problems, however minor, that might create liability for you after the sale.

Reprinted from REALTOR Magazine Online by permission of the National Association of REALTORS.  Copyright 2005.  All right reserved.

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More Home Equity Loans Expected

NEW YORK CITY (Bloomberg News) – Home equity loans are expected to increase over the next year while the U.S. median home price is expected to increase in the second quarter, according to Moody’s Economy.com and the National Association of Realtors (NAR).
Moody’s predicts that lenders will make about $36 billion in new home equity loans in the next 12 months, increasing the outstanding balances of the loans by 4.2 percent to $903.5 billion from a two-year low of $867.3 billion this quarter.
About $34 billion of home equity loans were made at the peak in 2008, according to Moody’s Economy.com.
Lenders will limit the home equity loans they grant to homeowners who owe less than their property is worth.
Another plus for the housing market is NAR’s expectation that property prices will rise this year for the first time since 2006.
The group predicts a 2.8 percent climb year over year to a median U.S. home price of $177,200 in the second quarter. That’s a $9,600 increase from the current quarter’s $167,600 median price.

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Are You An Agent Looking For A Winning Team?

Over the past couple of years I have been busy! I started with building my brand, then my business. I was able to expand my business as I moved to the powerful name of RE/MAX. Then I added my first Buyer’s Agent, Linda Parrish, a few months ago. Linda has been doing an outstanding job with both rentals, buyer’s, and taking many new listings this Spring. She is a well rounded agent with years of experience. I am now ready to add another Buyer’s Agent. If you are a real estate agent that would like to be a part of a growing team – give me a call. Our team is helping Sellers and Buyers all over the Houston area. With the power of the RE/MAX Brand and a winning team, you can have the opportunity to make a lot more money! I have leads flowing in daily that could be yours! I welcome both seasoned and new agents, as training is available as needed. Give me a call if you are interested in joining The Shannon Register Real Estate Team!

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