Register Real Estate Advisors

I have found that some consumers want to choose their own title company when they are purchasing a home. It is their right, of course, to choose. However, on what basis is a consumer choosing a title company? It has been my experience that when you allow your Realtor to choose the title company, you have a much smoother closing. This is because title companies work for Realtor business, not consumer business. So title companies want to make Realtors happy so they will repeatedly use their services. So when I use a title company of my choice for my clients, I know they will get great service and I have no fear of the title company going under with their earnest money. I also know I will get all my documents in a timely fashion and if there is a problem, I have someone I can directly contact and trust to resolve it. However, when consumers purchase Foreclosure properties, they usually do not get a choice on their title company. The seller decides or they make the buyer pay for the title insurance.

On a recent transaction I had a buyer that was purchasing a foreclosed home. The title company was chosen by the seller and it took them weeks to get the documents that the lender was requesting. Since the title company was out of town, they did a remote closing at my office. That means the title company sent a notary to get all of the documents signed. Unfortunately in this case, the title company did not send all the docs with the notary. So the next day when we were waiting for funding and my clients were waiting to get the keys to their new house, my clients and I found out they had to come back and sign more documents. Imagine my outrage! Then after the closing the title company did not send copies of the closing documents to my buyers. We had to both request copies several times before they were emailed to them. There are so many things that can hold up funding on a loan. You don’t want your title company to be the reason you don’t get into the home of your dreams. What if we’d had to wait to get docs signed and the lock on the loan expired? We could have lost the entire deal. You want to work with a title company that has a good reputation with your Realtor. One that your Realtor trusts to take care of all necessary details. Trust your Realtor, because is they are worth your real estate business, they know which title company will take good care of you!

According to a recent article in the 2011 Houston Custom Home Builders Guide, the baby boomers are still the ones that dominate the housing market trends. Below are things the article highlighted that I thought our readers would be interested in.

Home offices high on list for those working past 65 or starting a second career

The largest American generation is either retired or quickly nearing retirement age. Baby boomers, the generation born between 1946 and 1964 and who count more than 76 million, may be getting older, but they are definitely not ready to head to the retirement home!
The boomer generation is more active than generations in the past, has a more sophisticated style and wants options and choices in their homes. Whether they are selling the homes where they raised their children and heading to sunnier pastures, or staying put and redesigning to accommodate their retired lifestyle, boomers are making an impact on new housing trends.
Features that home builders and remodelers are seeing as they begin to cater to the boomers include:
Home Offices – Some boomers are choosing to work past the age of 65. As they transition from a traditional 9-to-5 job, however, they want home offices for flexibility. A second career or part-time employment often eliminates the hassle of commuting while keeping them active and bringing in supplementary income.
Tech/Media Centers – The tech-savvy boomer generation wants top-of-the-line amenities for their homes such as a media room with surround sound and central control systems, which manage all media sources in one location. The house may include a wireless home network (Wi-Fi), remote control lighting and security features.
Wider Doors and Hallways – As a person ages, there is a likelihood that use of a wheelchair might become a necessity. Designing a home that is livable now but can transition and be functional as the occupant ages is important in ensuring that the home will be a good long-term investment. Wider doors and hallways are useful for moving larger furniture today, and will also be wheelchair accessible tomorrow.
Better Lighting/Bigger Windows – The need for more lighting usually increases as we grow older. To accommodate this, builders are adding more windows and making them larger to let in more natural light. They are also adding more light fixtures in areas including under cabinets and in stairwells. Multiple switches to reduce the number of trips and dimmer controls to eliminate glare are other options.
First-Floor Bedrooms and Bathrooms – More than 40 percent of new homes have master suites downstairs, a 15 percent increase over a decade ago. Boomers not wishing to go up and down stairs with bad knees and aching backs have helped fuel this trend. The bedrooms are also bigger, with larger walk-in closets and bathrooms that have a separate tub and shower and dual sinks.
Easy to Maintain Exteriors/Landscaping – Yard work, painting and other landscaping chores may no longer be enjoyable to aging homeowners. People who move to a new home when they retire may opt for a maintenance-free community. Those who choose to stay in their homes might make improvements to exterior surfaces such as installing stucco, brick or low-maintenance siding. Lawns are being replaced with living patios, decorative landscaping or flower beds, which can be a hobby for gardening enthusiasts.
Flex Space – “Flex space” has become more prevalent in both new homes and remodeling. Flex spaces are rooms that take on the purpose of the present homeowner’s needs but can adjust with changes as they occur. What may have once started out as a guest bedroom can be redecorated to serve as a hobby room or library. This allows homeowners to stay in their homes longer as it continues to serve their needs throughout life’s stages.

There are both townhomes and condominiums in and around the Houston area.  You will need to know the difference if you are interested in purchasing either homes.  A townhouse is considered a single family residence and the paper work for the Realtor and Lender is the same as a free standing home purchase.  If you are purchasing a condominium, there is additional and different paperwork for the Realtor and Lender to prepare and strict guidelines for financing.

How do you know the difference between a townhouse and a condominium?  One way is to look at the legal description- in most cases, a townhome has a lot/block legal description and a condo will show “unit __” of “Building ___” or on tax records it will show style as being a condo.  If it is still unclear after looking at the tax records, the next step would be to have a title company pull the title information on the property to see how it was legally recorded.

If you are purchasing a condominium, you need to understand that they are considered high risk properties.  The condition and value depend on the neighbors as much as the owners, so owner occupancy is very important.  If too many owners are using the condo as an investment property or second home, then it could limit the type of loan you can get on your condo.  If you are getting a conventional loan on your condominium you have to put down atleast 20% so there will be no mortgage insurance required.  If you do a conventional loan with less than 20% down, then you will be required to get mortgage insurance and the owner occupancy rate must be atleast 75%.  So if the majority of the condos are used as rental units or second homes and you don’t have 20% to put down, you will not be able to get a conventional loan.   For an FHA or VA Loan, the government rules state that the condo association must be on the approved list for either FHA or VA before you can do a loan through them.  The approved lists are available online.  If the property is not on the approved list, then you do have the option to submit to FHA or VA for approval, but this is a long process.  For the property to get approved for an FHA or VA Loan they will require that it has an owner occupancy of atleast 50%, there cannot be any lawsuits going on with the property, past dues cannot be more than 15%, and any other requirements they want to add.

It is definitely easier and less risky to purcahse a townhome, but many condominiums are popular around the city and qualify for both VA and FHA Loans.  Check with a Realtor at Register Real Estate Advisors to learn more about the townhomes and condos in the area where you want to relocate to.  Our agents can help you move into any home you choose!  Call us today to get started.

This home offers a huge backyard, cul-de-sac advantage, and boasts of many upgrades. The kitchen has granite and tile with stainless appliances. There is a raised bar and island. Most of the downstairs is hardwood floors. Large entry with fresh paint throughout make this home appealing to any family. The open floorplan has five bedrooms and three and a half baths. There is a gas fireplace, master suite with separate whirlpool tub and shower, huge closets with build ins and much more. The upstairs gameroom has a balcony with quite a view. There is a study downstairs with french doors and built ins. The three car garage and huge under stair storage closets give this home more than enough room to store extra stuff. Watch the video below to see your next dream home!

We're sorry, but we couldn't find MLS # 47853984 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

…or see the rest of what’s for sale in beautiful Spring Lakes

Showing properties 1 - 14 of 14. See more Spring Lakes - Spring, TX 77373.
(all data current as of 5/22/2012)

1. $2,000 : MLS # 83222525 in Spring
   
   4 beds, 3 full, 1 part baths

   Home size: 3,062 sq ft

   Lot size: 8,635 sqft

   Year built: 2009

   Parking spots: 3

   Days on market: 7

   Listed with RE/MAX Vintage
2. $229,900 : 25826 Sarah Springs Ct, Spring
   
   5 beds, 3 full, 1 part baths

   Home size: 3,270 sq ft

   Lot size: 7,800 sqft

   Year built: 2003

   Parking spots: 3

   Days on market: 16

   Listed with The Taylor Group
3. $265,000 : 25603 Wrexham Springs Ct, Spring
   
   4 beds, 3 full, 1 part baths

   Home size: 3,596 sq ft

   Lot size: 11,647 sqft

   Year built: 2004

   Parking spots: 3

   Days on market: 24

   Listed with Coldwell Banker United, REALTORS
4. $1,900 : 25415 China Springs, Spring
   
   4 beds, 2 full, 1 part baths

   Home size: 2,599 sq ft

   Lot size: 7,761 sqft

   Year built: 2001

   Parking spots: 2

   Days on market: 29

   Listed with Realty Associates
5. $164,900 : 935 Sierra Springs Ln, Spring
   
   4 beds, 2 full baths

   Home size: 2,232 sq ft

   Lot size: 6,719 sqft

   Year built: 2003

   Parking spots: 2

   Days on market: 32

   Listed with RE/MAX Fine Properties
6. $180,990 : 25818 Clear Springs Wa, Spring
   
   4 beds, 3 full, 1 part baths

   Home size: 2,739 sq ft

   Lot size: 8,375 sqft

   Year built: 2001

   Parking spots: 2

   Days on market: 42

   Listed with Realty Right Texas, LLC
7. $2,400 : 25811 Coyote Springs Ct, Spring
   
   5 beds, 3 full, 1 part baths

   Home size: 3,649 sq ft

   Lot size: 7,928 sqft

   Year built: 2002

   Parking spots: 3

   Days on market: 50

   Listed with Premier Real Estate Group
8. $150,000 : 919 Sierra Springs Ln, Spring
   
   3 beds, 2 full baths

   Home size: 2,101 sq ft

   Lot size: 6,538 sqft

   Year built: 2003

   Parking spots: 2

   Days on market: 50

   Listed with Texas Home Group, REALTORS
9. $235,000 : 25811 Coyote Springs Ct, Spring
   
   5 beds, 3 full, 1 part baths

   Home size: 3,649 sq ft

   Lot size: 7,928 sqft

   Year built: 2002

   Parking spots: 3

   Days on market: 50

   Listed with Premier Real Estate Group
10. $1,600 : 25642 Myrtle Springs, Spring
    
    4 beds, 2 full, 1 part baths

    Home size: 2,294 sq ft

    Lot size: 5,314 sqft

    Year built: 1999

    Parking spots: 2

    Days on market: 111

    Listed with RE/MAX Northwest, REALTORS
11. $154,000 : 25502 Forest Springs Lake, Spring
    
    4 beds, 2 full baths

    Home size: 2,319 sq ft

    Lot size: 10,508 sqft

    Year built: 2005

    Parking spots: 2

    Days on market: 112

    Listed with RE/MAX Integrity
12. $205,000 : 519 Savannah Springs Wa, Spring
    
    4 beds, 3 full, 1 part baths

    Home size: 2,945 sq ft

    Lot size: 9,090 sqft

    Year built: 2003

    Parking spots: 2

    Days on market: 225

    Listed with Register Real Estate Advisors
13. $1,450 : 25502 Forest Springs Lake, Spring
    
    4 beds, 2 full baths

    Home size: 2,319 sq ft

    Lot size: 10,508 sqft

    Year built: 2005

    Parking spots: 2

    Days on market: 232

    Listed with RE/MAX Integrity
14. $192,000 : 25735 Beckham Springs Ct, Spring
    
    4 beds, 3 full, 1 part baths

    Home size: 3,587 sq ft

    Lot size: 7,723 sqft

    Year built: 2005

    Parking spots: 3

    Days on market: 233

    Listed with Register Real Estate Advisors

Listing information deemed reliable but not guaranteed. Read full disclaimer.

One of my clients emailed me the link below.  He and I were talking the other day and he could not believe that we have had clients at RREA that have been over a year behind on their mortgages and still not foreclosed on.  It would have been unbelievable years ago, but in today’s market, it’s become the norm.  One of my agents closed on a short sale and the owners of the home walked away with $8K dollars after closing.  WOW!  The agent’s commission was less than $1,000 on the house.  The house was sold for less than $50K.  So the owner that got  foreclosed on walked away with almost one third of what the house sold for as a short sale.  This is free government money being given away to people who do not pay their mortgages.  What is wrong with this picture??

I worked on a short sale last year where the homeowner had a first and second mortgage.  After we found a buyer for the home, the second lien holder refused to take a settlement.  So although the first lienholder agreed to the deal, the buyer could not purchase the home because the second lienholder refused to take a settlement.  I have found that trying to do short sales on homes that have a first and second lienholder are much more difficult that short sales with just a first lien.  Unfortunately, the home foreclosed and the buyers lost the opportunity to purchase the home.  Short sales are tricky, so you need an experienced agent that can work the system to negotiate on your behalf with the mortgage company.  After you read this article, please leave thought below.  I would like to know how you feel about short sales.  If you or someone you know could potentially lose their home to foreclosure, please have them call me early enough so that we have time to sell the home before it forecloses.

National Article on Short Sales

I had a great opportunity to sit down with Toy Wood, CEO of Greater Houston Builders Association, on “Price of Business” yesterday for two segments. Here is the second. You can find the first HERE.

I had a great opportunity to sit down with Toy Wood, CEO of Greater Houston Builders Association, on “Price of Business” yesterday for two segments. Here is the first.

Posted from…

The Falls at Imperial Oaks was featured on “Hot on Homes” this Saturday. I was there at the taping and had a bit part in the show!

HOUSTON (CB Richard Ellis) – H-Town’s office market finished 2011 with more than three million sf of positive net absorption, reports CB Richard Ellis (CBRE) in its latest market analysis. The firm credits area job growth, increasing shale exploration activity and stronger oil prices for the surge in leasing. According to the report, predictions for the city’s 2010 employment gains of 13,700 were later revised to reflect the addition of around 40,000 more new jobs than anticipated. The Greater Houston Partnership’s figures show the city gained 170,700 jobs since economic recovery began. That’s 111.7 percent of the 152,800 jobs lost because of the recession. In addition, CBRE said employment forecasters expect 84,000 jobs to be added this year. Office space absorption in the early part of 2011 was the result of several large transactions that had been shelved during the recession. Fourth quarter absorption, on the other hand, was from many small to medium-sized deals. Class-A vacancy dropped 150 basis points from 12.14 in fourth quarter 2010 to 10.6 percent a year later. With the decreasing vacancy rate and shrinking Class-A available space, proposed developments and new construction are on the rise in the suburban markets.

Hey guys! It’s White Board Monday again. This week is on the kind of lock boxes realtor’s use on your home when it is on the market. Enjoy!