Register Real Estate Advisors

HOUSTON (Houston Chronicle) – Texas ranked 29th in state foreclosure rates for 2009, with 1.06 percent of the state’s total housing units receiving at least one foreclosure filing, according to a report by RealtyTrac.

 That calculation includes default notices, scheduled foreclosure auctions and bank repossessions.

Overall, 100,045 housing units received foreclosure filings in Texas last year, up 4 percent from 2008 and up 18 percent from 2007.

In comparison, Nevada posted the highest foreclosure rate in 2009, with over 10 percent of its housing units receiving foreclosure filings. Colorado was tenth in the nation, with 2.37 percent of its units receiving foreclosure filings.

Every experienced broker knows that neglected projects in the home will cost the seller enormously – perhaps even the sale.  That is why I write this blog, to try to educate homeowners.

If you will live in your home in a preventative maintenance mode, then, hopefully, when it’s time to sell, your home will be in “selling condition.”  Most homeowners don’t think about how their home should look to prospective buyers until it’s time to sell, but it’s never too early to think about preventative maintenance.  Keep things in working order so that it’s easy to list the home at anytime.  This will pay bigger dividends on the sale of the home at a future date. 

The exterior of the home:

Extensive tree coverage can create more problems for homeowners as time goes on.  A canopy of greenery will shade the home in the summer and it will also keep the sun from having a chance to dry the area.  If there’s evidence of mildew then it is time to trim some of the trees, but there’s no need to cut the entire tree.  Get a free estimate from a professional. 

Often times, if the exterior of the home isn’t maintained, it can move to the interior of the home.  For example, there could be a missing gutter spout.  By replacing the spout the rain run-off will be positioned appropriately to avoid water buildup around the foundation which could cause water leakage into the basement.  It’s easier to fix a small problem before it becomes a “bigger problem.”

Driveways and walkways should be maintained for safety.  Any pavers should be flush and level to avoid accidents.

The interior of the home:

Evaluate the condition of the kitchen and bathrooms before listing your home for sale.  If these rooms have not been updated, then it’s essential that they gleam with cleanliness.  It’s a good idea to replace toilets and sinks in bathrooms for a quick make-over.  It’s also a good idea to have the tub refinished if it needs an overhaul.  I  always disclose all of these updates to the prospective buyer in marketing materials when I list homes for sale.  This will not only appeal to buyers, but make the home move-in ready. 

These suggestions are not expensive and are projects that can be done quickly.  Even an old kitchen can be a clean kitchen. 

Rotten windows and window sills in older homes are always a major problem.  The one way to avoid this problem is to pull down the storm windows in the winter and also keep the storm windows down in the summer, especially if the home has central air conditioning.  It helps keep the sills dry. 

If you de-clutter daily, it doesn’t pile up on you.  Buyers do not like cluttered homes. 

If you live in your home in a preventative maintenance condition, it will be ready to sell on a moment’s notice.  In these trying economic times, you never know when a job change or financial hardship will cause you to sell quickly.  Keep your home well maintained and you won’t be stuck with the expense of fixing it up to sell it.

I got this information from an article that was first written by Charlene Geary for The Real Estate Professional November/December issue compliments of REBAC.  I receive that publication because of my Accredited Buyer’s Representative Training.  These are some of the things I help my buyers look at when they are looking at a potential home.

Why not? I listed a home on Alp Springs last week and this week it’s already shown. Buyers are out there looking year ’round. This time of year, only serious buyers are out there looking because if they’re not serious, they don’t have time to look at houses! If you have lived in your home for more than five years, you will qualify for the $6,500 tax credit if you buy your next home before the deadline next April. It’s an excellent time to sell. Call me today to see what absorption rates are in your neighborhood and what price you can expect to get for your home. Let’s get it on the market and get it SOLD! My marketing plan works even in a down market. I have proven results!

There is a formula to selling in this market:  Passion + Technology = SOLD.  It is working for my sellers.  Allow me to elaborate.

First, the house must be findable and appealing online because that is where 87% of the buyers start their home search.  This is essential to maximizing the value of your home in a timely manner.  It is not enough to simply add your home into the Multiple Listing Service. It is no longer enough to simply have “curb appeal,”  it must have “google appeal” as well and be search engine optimized and key word search-able for the scarce qualified buyer to find your home.  Professional quality pictures and video tours help turn visitors on the web pages into offers on your home.  As a Social Media Pro and ePro Realtor, I have geared my training to help me improve my web marketing and website to showcase listings with photos, videos, and information about the property that is trickled out to over 40 websites.  Social networking sites like Facebook, Twitter, YouTube, and LinkedIn also add to the listing’s “web footprint” and increase the odds of the right qualified buyer finding it.  I don’t leave the sale of your home to chance, I put it in front of buyers as well as the Realtors in the North West Houston area via e-fliers. 

Bottom line – my online marketing is proven to sell houses. I offer online home tours via videos and comprehensive real estate news and data and distribute this information through multiple channels. I am committed to cutting edge technology that improves your bottom line in real estate transactions.

Relocating to the area? With the tools for your research on my website, you can make a decision on a home without traveling or with a few days visit. I have recognized and responded to today’s consumer by staying on top of the market and the internet technology that ensures their home stands out from the crowd in any market. That’s why I can honestly tell my clients that Passion + Technology = SOLD.

Second, Passionate about Real Estate.  One of the ways I chose to drive traffic to my website is by writing my blog.  I have been awarded “The Best Real Estate Blog in Texas” according to The Mays Business School and Real Estate Research Center at Texas A&M University. 

To sell in this market, you must have a Realtor that knows the market and knows that in a down market, marketing and packaging matters.  Don’t let my use of technology intimidate you if you’re not a social media bug, just use it to sell your home.  I continue to use the traditional Realtor marketing techniques as well.  My marketing plan is proven to work even in a down market.  If you need to sell your home, call me for the help it is going to require to sell in this economy.  I’d love to help you and since I am a relocation specialist, I can help you relocate to anywhere in the world.  Of course, I think Texas is the best place to live.

Are you thinking about new floors this holiday season?  Changing your floors can add value to your home and there are so many options available. 

Carpet gets worn and dirty over the years and usually needs stretching after just a couple of years, so replacing carpet is always a great incentive for buyers when choosing a home to purchase.  Tile is durable because there is no maintenance for tile unless you are concerned about grout stains.  If it does it get chipped, it can usually be repaired.  Hardwood floors are nice because they are seemless and easy to clean.  I do not recommend them for wet areas, though, as water will cause them to buckle. 

If you’re looking for something new, check out bamboo, cork, or corboo which is a mixture of cork and bamboo.   

By changing the color, pattern, or material of your flooring, you can drastically change and update any room in your home.

By:  Vicki Fullerton, 2009 Chair of the Houston Association of Realtors, previously printed in the Houston Chronicle

While working with a Realtor to buy or sell a home, you may have seen “GRI”, “CRB”, or “CRE” after a Realtor’s name and wondered what those letters meant.  Like most industries that constantly are changing, real estate demands continuing education throughout a Realtor’s career.

A successful agent must keep up to date with current issues, evolving technology, changing laws and regulations, and other important aspects of the business.  After all, it’s that comprehensive knowledge that gives Realtors the ability to help consumers buy and sell houses successfully. 

The National Association of Realtor (NAR) offers advanced education designation and certification programs through its institutes, societies and councils for Realtors.  Though there are other designations, these programs carry an official endorsement from NAR.

Just as an MBA carries with it a certain distinction in the business world, so do the letters after a Realtor’s name in the world of real estate.  These designations and certification programs are tailored to every real estate specialty you’ve heard of, and probably some you haven’t, so if there’s an area of specialty you need, you almost certainly can find a Realtor who has it.

For example, your Realtor might have extra training as a buyer’s representative, land consultant, commercial investment expert, property manager, appraiser or brokerage manager.  Many Realtors earn several designations to keep as current as possible in multiple areas of the real estate industry.  You may want to work with someone who knows the ins and outs of a particular area.  After all, buying property is pretty complicated.  New technology, laws, procedures, and the increasing sophistication of buyers and sellers require real estate practitioners to perform at top professional levels, and consumers are demanding it.

GRI designation

One of the most comprehensive designations for Realtors is the GRI  (Graduate, Realtor Institute).  It’s a curriculum that requires Realtors to complete an advanced course series that includes 90 hours of classroom instruction.  There’s an emphases on technology, business development, sales and marketing, and critical legal and regulatory issues such as fair housing, brokerage relationships and environmental concerns.  State and local Realtor associations offer these classes, giving Realtors ample opportunity to stay on top of the real estate profession.

The GRI program gives Realtors an understanding of the industry’s finer points and that can only benefit folks who rely on that expertise to find the house of their dreams or sell their longtime residence.  And there’s more.

The following are NAR-endorsed designation and certification programs.  Look for these next time you need a Realtor with a specific area of expertise:

ABR:   Accredited Buyer Representative

ABRM:   Accredited Buyer Representative Manager

ALC:   Accredited Land Consultant

CCIM:  Certified Commercial Investment Member

CIPS:  Certified International Property Specialist

CPM:   Certified Property Manager

CRB:  Certified Real Estate Brokerage Manager

CRS:  Certified Residential Specialist

CRE:   Counselor of Real Estate

GAA:   General Accredited Appraiser

GRI:  Gradate, Realtor Institute

Green:  Sustainable Property Designation

PMN:  Performance Management Network

RCE:  Realtor Association Certified Executive

RAA:  Residential Accredited Appraiser

SRES:  Seniors Real Estate Specialist

SIOR:  Society of Industrial and Office Realtors

Certification Programs:

AHWD:  At Home with Diversity Certification

e-Pro:  Certification program for online professionalism

RSPS:   Resort and Second-home Property Specialist

REPA:  Real Estate Professional Assistant

TNC:  Transnational Referral Certification

Congress has passed new legislation that:

• Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
• Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.

I am a Realtor, not a home stager.  So for my Selling Clients I offer the opportunity to have a professional home staging consultation.  I pay for the home stager to walk through the house and discuss with the homeowner what needs to be done to get the home showing and sold quickly.  My home stager makes recommendations about paint, landscape, position of furniture, decorating, and more.  A professional home stager knows what buyers look for in a home and offers a fresh set of eyes.  She makes a list of recommendations.  This is a FREE service I offer all of my sellers so that they can attract the most buys to their property.  My marketing plan works because I sell houses that are ready for move in.  If you are thinking about selling your home, call me today for more information.  I also offer a list of home staging tips on my website at http://rrea.com/home-staging-tips .

DALLAS (Dallas Morning News, San Antonio Express-News, Austin Business Journal) – San Antonio and Dallas–Fort Worth experienced a record-setting year of home foreclosure listings.

December’s surge in DFW home foreclosure filings pushes the area’s year-end total over 61,000, up 23 percent from the 2008 total, according to Addison-based Foreclosure Listing Service.

More than 5,200 North Texas homes are posted in foreclosure for December, an increase of 30 percent from a year ago.

RexReport.com reports that San Antonio’s total foreclosure postings in 2009 are up 42 percent from 2008. With nearly 16,000 properties in some stage of foreclosure over the year, the Alamo City hasn’t seen a number that high in two decades.

Over 1,400 homes are listed for the December auction, a 40 percent increase from December 2008.

Meanwhile, foreclosures across Texas fell 10.7 percent to 11,798 postings in October from the previous month, but were 19.2 percent higher than October 2008 numbers, according to RealtyTrac Inc.

Texas has the 23rd highest foreclosure rate in the nation.

FORT WORTH (Fort Worth Business Press) – While all other sectors of residential real estate have suffered over the past few months, the manufactured housing market has thrived.

The sector has a trend of performing better in a down market, according to Marcus and Millichap Real Estate Investment Services.

Some 30 percent of the households in Texas cannot afford a home over $70,000, which is a plus for the manufactured home business, says Dr. Jim Gaines, research economist at the Real Estate Center at Texas A&M University.

The average price for a manufactured home is $46,000, compared with $162,300 for a site-built house, excluding land, according to the Manufactured Housing Institute.

“Manufactured homes are set to do well,” Gaines says.

Texas, Florida and North Carolina lead the market in volume of manufactured home communities, 60 percent of which are in southern states.

According to a September report released by JLT & Associates, a market research company specializing in the manufactured housing industry, Texas has 170 such communities. Twenty-seven of those are in Tarrant County.