August 13th, 2008
If you are a first time homebuyer looking to purchase in the Spring Texas area, you need to be aware of the latest housing bill and its potential benefits to YOU. The housing bill which was signed into law is the Housing and Economic Recovery Act of 2008. Amongst other things the Housing and Economic Recovery Act of 2008 was designed to give the housing industry a shot in the arm and an incentive to get buyers off the fence and purchase a home.
WHAT IS THE FIRST-TIME HOMEBUYER TAX CREDIT?:
- A $7,500 tax credit for eligible first-time homebuyers who purchase either a resale or new home. An eligible first-time homebuyer is a buyer who has not owned a principle residence during the last three years.
- The full tax credit is available for individual taxpayers with a modified adjusted gross income up to $75,000 and for married taxpayers with adjusted gross income up to $150,000. It is completely phased out for individual taxpayers and married taxpayers with a modified adjusted gross income of $95,000 and $170,000 or higher, respectively. Read More »
August 8th, 2008
In its latest issue, Money Magazine, announced the “Top 25″ cities where homes are affordable. And coming in at #14 on the list of affordability is Spring Texas homes. With an annual median family income of $74,298 and a 2007 median home price of $131,005, its easy to understand why the residents of Spring Texas enjoy a comfortable lifestyle.
Often I receive calls from potential Spring Texas homebuyers asking “What’s wrong with the house that you have on the market for $155,000?” The answer is nothing’s wrong with the house. Its just our market prices.
Or the other question is “Why are all the houses so cheap?” The answer is a two-part answer. First, the Spring Texas real estate market has not experienced the huge price appreciation that other parts of the U.S. has keeping our housing very affordable. Second part, the reason why we have not experienced large price appreciation is because of land. We still have plenty of land and the developers are building lots of new construction homes on it. The fresh and plentiful supply of homes coupled with a balanced demand has kept our home prices affordable.
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If you are thinking about relocating to Spring Texas and have a few questions give us a call at 281.300.3141 or 281.804.8626. We would be happy to tell you about why we call Spring Texas “home” and help you find your own house in Spring Texas to call “home”.
July 31st, 2008
If your vision of the perfect home comes with its own private pool, then you will love all the numerous options available for you on the Spring Texas real estate market. As of today, there are 286 Spring Texas homes for sale with a private pool in the $100,000 - $600,000 price range. That equals to 14% of the homes on the market have their own private pool which gives you plenty of choices.
But how do you know if you are a private pool person? To find out you need to ask yourself a series of questions.
1. Are you willing and able to pay for the upkeep of a pool? Some of the expenses associated with owning a pool include the following:
- chemicals to keep the water clean and in balance
- electricity for the pool’s lights, to run the spa’s pump, and to heat the pool
- liability insurance which is even higher if the pool has a diving board
Read More »
July 17th, 2008
Before sitting down with my buyers and writing an offer on their Spring Texas dream home, I will contact our in-house insurance agent and find out if the home is located in the 100 year flood zone. If a home is located in the 100 year flood zone it means that in any given year there is a 1% chance that a major flood will occur. I want my buyers to know going into the negotiations if the home is located in the 100 year flood zone because it impacts resale value, their home ownership costs, and in some instances their ability to sleep soundly at night. 
Some buyers I have represented did not want to proceed any further with an offer after discovering the home was located in the 100 year flood zone. And if you are the type of individual that every time we have a heavy rain you would be worried that your house would flood, then DO NOT purchase a home in the 100 year flood zone. The home is not worth the mental anguish it would cause you. No matter if it is your dream home.
Before you purchase that Spring Texas home located in the 100 year flood zone, consider the following: Read More »
July 8th, 2008
I know you Spring Texas home buyers must think that Realtors are just nosey people. Because you, potential buyers, are thinking why does it matter if you have been preapproved for a loan. You just want to view the home. You may not even like it and won’t want to buy it. So why do Realtors ask you if you have been preapproved for a loan?
1. The most important reason is we don’t want to have your dreams shattered. Let’s say we have been out looking at Spring Texas homes for the past several months and we have just found “the ONE” house for you. Now its time to get preapproved for the loan. You talk to your lender and he tells you because of a recent car loan you can not qualify to borrow the amount needed to purchase the house.
2. Saves you time. If we do not know the loan amount the lender will approve, we may be looking in the wrong price range of homes. Why waste months of your time viewing homes in a $200,000 - $225,000 price range only to find out later that according to the lender you need to be considering homes priced from $130,000 to $160,000. Read More »
June 20th, 2008
Quite frequently I get asked “Is now a good time to buy a home in Spring Texas?” Its a good question. We all work hard and want to make the best financial decisions possible. Nobody wants to buy a home today for $200,000 and find out tomorrow or next year that its only worth $140,000.
We have been lucky because the Spring Texas real estate market has not experienced the volality that has been felt in the California and Florida markets. Yes, our sales activity is down over previous years but the bottom line is how are prices holding up and is now a better time to buy than it may be in the future.
In my opinion, now is a great time to buy and I say that not just because I am a Realtor. But because I see some very compelling reasons to do so.
3 Reasons why now is a good time to buy a Spring Texas home:
1. BUY before home prices increase - Home prices are poised to increase especially new home prices. One reason is the cost of transportation. As reported in the Houston Chronicle, the increased cost to transport goods to the job site coupled with the higher prices of concrete, steel, and plastic pipe have local builders feeling the pinch. Its just a matter of time before the new home builders have no choice but to raise prices. Read More »
June 12th, 2008
The real estate industry like other industries has its fair share of abbreviations. And I would have to say that I am just as guilty as the next Spring Texas Realtor in using real estate abbreviations in my correspondence. I throw them around assuming that everyone knows exactly what they mean.
So what does MLS, CMA, LP, SP, DOM, A, OP, P, PS mean?
MLS - Multiple Listing Service: A database that contains information on property listings. In the listing agreement it will identify whether the broker will or will NOT file the listing with a MLS. The local MLS for an area typically has the most comprehensive database of listings.
CMA - Comparative Market Analysis: An impartial evaluation of market activity and is used to estimate the potential selling price of a Spring Texas home.
LP - List Price: The dollar figure at which the property is listed for sale. Read More »
June 6th, 2008
The purpose of this article is NOT to tell you how to prepare for a hurricane because a weather site would offer far better advice than I could. But the purpose is to tell you how hurricane season can delay the closing of your Spring Texas real estate transaction.
Did you know that insurance carriers will not write homeowners / hazard insurance policies on Spring Texas homes when a named storm is in the Gulf? Why? Because insurance carriers do not want to take the risk that they insure your home on Tuesday and on Wednesday you submit a claim.
If a Spring Texas home buyer can not secure hazard insurance due to a named storm, the closing of the home will be delayed until the potential for damage has passed.
May 30th, 2008
In the Spring Texas real estate market, buyers and sellers alike are often confused about the differences 
between market value, appraised value, and tax appraised value.
So let’s first start by tackling market value. The market value of a home is how much a ready, willing, and able buyer is willing to pay for the home.
The appraised value of a home is the value determined by an appraiser. If you are a buyer financing the purchase of a Spring Texas home, your lender may require the property to be appraised by an appraiser. The appraiser works for the lender and his job is to determine if the value of the home is equal to or greater than the amount that you are financing.
Read More »
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