I know…I am biased to this neighborhood.

This briargrove home will make someone very, very happy.

Nestled in the center of this family + dog friendly neighborhood, is a re-done classic.

See for yourself – before its too late!

For more photos or to schedule a showing – Click Here!

Happy Spring everyone!

We are seeing amazing things in the real estate market in Houston this spring.

Homes are flying off the market in a record number of days, and multiple offers on one property are common.

We are thankful to see that our economy continues to shine resulting in happy new homeowners!

Before I could blog about this one, it was gone.

A beautiful custom home in Oak Forest.

Here are a few shots of this gorgeous home – click on each image to enlarge.

Now you can see why it only lasted 3 days on the market!?

The folks at the Houston Association of Realtors are sounding positively giddy about the local home market, which has seen an increase in sales for the eighth consecutive month.

January 2012 “opened with a continued decline in active property listings and growth in pending sales — a combination that signals a healthy market with a balanced supply of housing inventory, and that puts Houston on enviable footing compared to many other markets around the U.S. that are slowly recovering from the housing downturn,” HAR said in a release.

“The January report shows continued strength in the Houston housing market that we began seeing in the latter part of 2011, and it gives us cause for optimism as we look ahead to the typically active spring and summer buying months,” said HAR chairman Wayne Stroman. “We have also seen more jobs being filled locally and you generally don’t experience a strong real estate market without healthy employment.”

Single-family home sales jumped 9.2 percent, although the average price decreased very slightly.

HAR said:

The inventory of single-family homes dropped to its lowest level since December 2009 — 5.7 months, compared to 7.2 months one year earlier. That means it would take 5.7 months to sell all the single-family homes on the market based on sales activity over the past year. The figure is significantly better than the national inventory of single-family homes of 7.2 months reported by the National Association of REALTORS® (NAR).

So happy days are here again?

Houston Press Blog by Richard Connelly

(MONEY Magazine) — Last year the economic forecasting firm Fiserv predicted that home values would sink around 5% in 2011, and that prices in three-quarters of the nation’s major metro areas would fall. The bad news is, the firm wasn’t that far off the mark. The good news: In the coming year, Fiserv thinks 95% of the 384 metro areas it tracks will see prices rise.

Don’t expect the market to move much beyond first gear, though. The median expectation among more than 100 economists and real estate pros surveyed by MacroMarkets is that home values will inch ahead by a mere 0.25%, compared to their 2011 median forecast decline of 2.8%. They also foresee annualized gains through 2015 of just 1.1%, as the real estate market slowly works its way through a mountain of foreclosures.

Those foreclosures will continue to weigh on the market. According to Core- Logic, there are 5.4 million homes that are for sale or part of the market’s “shadow inventory” — which includes bank-owned properties, homes in the foreclosure pipeline that haven’t hit the market yet, or properties where owners are seriously behind on payments.

To put that in perspective, Freddie Mac forecasts that only 4.8 million homes will be purchased in all of 2012. A market with six months of inventory is considered healthy. That there’s more than a year’s worth of housing stock now tells you what a tough slog this will still be. “It’s analogous to a flood,” says Mark Fleming, CoreLogic’s chief economist. “The water is very deep in the living room, but it’s no longer getting deeper and is starting to recede.

Helping that process along will be low-interest-rate mortgages that are expected to remain cheap. Jay Brinkmann, chief economist at the Mortgage Bankers Association, says the 4.2% rate on a 30-year fixed rate in late October might not last long. Still, he expects the 30-year fixed mortgage rate to stay below 5% throughout 2012.

The action plan: It will pay to think small — as in reduce your mortgage bills and focus on modest homes.

Buyers: Downsize the dream. For those gearing up to make a purchase, 2012 could be a great opportunity, what with cheap prices, low borrowing rates, and little competition among prospective bidders.

Before you take the plunge, remember that the price you pay matters, as does your ability to easily resell that home down the road.

This means it’s best to focus on smaller properties in your area near restaurants and retail. McMansions of at least 2,600 square feet, which were the ideal in the boom years, are coveted by a mere 18% of households today, according to a recent survey by Trulia. And that figure could fall even more.

A separate survey by the National Association of Home Builders found that home-construction firms expect U.S. houses to average 2,152 square feet in 2015 — down 10% from last year.

Some of this is attributable to the lingering effects of the past recession, which has eaten into housing budgets. But there’s also a permanent change at play. “Baby boomers are trading down. They don’t need the McMansion, and they don’t want to drive as much,” says Trulia chief economist Jed Kolko.

Sellers: Price it right. The longer you can wait for prices to stabilize in your area and for demand to pick up, the less likely you’ll need to entertain low-ball offers. If you have to make a move in 2012, though, the trick will be to price your home correctly out of the gate.

According to a recent national survey of real estate agents, 75% of homeowners believe their house is worth more than what agents put the fair market value at, and nearly one in two homeowners still overestimate their home’s value by more than 10%.

Meanwhile, Trulia reports that about one in four homes in its database has gone through at least one price reduction, and the average price cut for those homes is 8%.

Joe Magdziarz, president of the Appraisal Institute, says you and your agent should stick with comparable sales data just within the past 90 days, as that’s what lenders expect appraisers to use.

If you don’t trust your agent’s recommendation, shell out $300 to $400 for an outside appraisal. That will be money well spent if it pushes you to list your home in sync with current market valuations and you sell faster.

Owners: Shorten your loan. Refinancing your old mortgage to a new fixed-rate loan could have you smiling for years to come. If there’s any chance you can refinance into a 15-year loan, go for it; the 3.45% rate in late October was near an all-time low. On a $250,000 mortgage, going from a 30-year mortgage at 4.2% to a 15-year loan charging 3.45% would save you $120,000 in interest over the life of the loan.

What if the added $560 monthly payment is too steep to handle? Shop for a 20-year loan. The rate is likely to be only slightly less than on a 30-year loan, but the faster payback will save you in the long run.

Via: Money Magazine

Its about time for some good news….

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From the Houston Business Journal

August marked the third consecutive month of increased single family home sales in Houston.

Statistics for last month compiled by theHouston Association of Realtors also show single family sales were 30.2 percent higher than the previous August, though last year’s activity was affected by the federal tax credit.

Compared to August 2009, a year with no market influences such as Hurricane Ike in 2008 and the 2010 tax credit, HAR reports single family home sales were up 10.4 percent.

“It is encouraging to see how well the August numbers stack up against August 2009, which was the last ‘normal’ year for our housing market,” Carlos Bujosa, HAR chairman and vice president at Transwestern , said in a statement.

A total of 5,543 single family homes sold through the multiple listing service in August, up 30.2 percent from the 4,257 homes sold in August 2010.

The August number represents the second-highest sales volume month of the year. June was higher with 5,601 homes sold.

Total property sales rose 29 percent August over August, with 6,524 sales last month compared to 5,058 sales last year.

Other highlights in the report:

• At $217,047, the average price of a single family home reached the second highest level for an August in Houston

• Single family home rentals rose 21.8 percent

• Townhouse/condominium rentals increased 23.1 percent

• 7.1 months inventory of single family homes compares favorably to the national average of 9.4 months.

Look no further!

This beautiful lot is home to several live oak and pecan trees – a perfect shaded canopy for your dream home!

Located in the Historic Heights, the sellers are willing to share their engineered plans for the lot.

For more information and to see the survey – Click HERE

This charming Bellaire Home is the perfect place to call home. Nestled near all that Bellaire has to offer, this would be the perfect property for a first time home buyer or for a someone planning to build in the near future – as there is new construction all around.

To view more – click HERE

According to the National Association of Realtors – 90% of realtors do NOT blog.
This is surprising considering most of us have plenty to say
Although I have intentions to be much better – maybe this article will be a good incentive for all of us to continue to do a better job communicating the latest and greatest information to our clients!

Happy Blogging!

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Link to the Agent Genius Article here: NAR Reports 90% of Realtors do not have a blog

Realtors’ websites (and a lack of blogs)

The 2011 NAR Member Guide reports that nearly two thirds of all Realtors have had a website for at least five years, half use social media and 10% blog.

While these numbers are rising over the years, it is only an illusion that every Realtor and their dog are blogging and using social media- 90% of all dues paying members do not blog. Let that sink in… there’s room for success in the real estate blogging world and although many have been blogging for years, most simply rely on a static website.

Static real estate websites

NAR reports that that most common information on Realtor websites is a Realtor’s own listings and that Realtors spend a median of $250 to maintain a website per year.

An annual maintenance of $250 is fairly low given that a quality IDX alone is more than $250 per year. We do not believe that the hours potentially put into maintaining a website are accounted for which of course are not free (yet they are subjective). Based on this statistic, does the industry expect to only pay $250 per year for a quality dedicated website and blog?

ROI of real estate websites

NAR members average three inquiries (or 3% of their business) from their website. This number is drastically low given the amount of effort and money potentially put into this marketing vertical and also unveils the blunder of templated websites coded in 1997 that are being sold in red, white, or blue in 2011.

There is a lot of room for improvement here and given that almost all real estate searches start online, if Realtors don’t invest more (time or money) into their websites, they will not be the first point of contact, rather a media company syndicating listings will.

The silver lining is that Realtors using smartphones is up to 75% of membership, a rise of 34% since 2009 and what we believe to be a positive step for an industry whose average age is 56.

The takeaways

Although use of smartphones, websites and social networking are on the rise, the lack of return appears to be extremely low. Many will likely either give up leaving room for those who are serious and others will make the investment to turn it over to a professional given the coverage of modern tech tools and a rising understanding of the potential of web tools.

Recently I have had issues with homes being appraised for less than what they were under contract for.

This is a frustrating process that involves protesting the original appraisal, or paying for a second.

In one specific case, the second appraisal came back 16% higher than the first.

Here is summary of why this is occurring, and according the this article – its happening all over the country:

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If you are trying to sell your home or are in the real estate business you know one things is true these days.

Finding a buyer is just the first step. Getting an appraisal to work with the offer is often a deal breaker.

According to a report in the Free Press, 40 percent of deals in Detroit are blowing up because the appraisal is coming in too low.

Appraisals, many of them inflated during the market boom, have fallen to Earth. While appraisers argue that guidelines passed in 2009 protect home buyers and lenders by giving them a realistic value for the home, Realtors and homeowners say the appraisals are too conservative.

This further depresses the housing market because most buyers are not able to put up the extra cash if there is a huge gap between what they offer for the house and what it’s appraised for — and sellers don’t want to lower the asking price if the appraisal comes in low. via FreeP

Now don’t blame the appraiser. They are the ones caught in the crossfire.

The story goes back to the mid 2000’s when appraisers were pressured by the real estate agents and the lenders to make the numbers work. If they gave an honest appraisal and blew up a deal, odds are they would not find any work again. The banks wanted to lend on anything and the agents wanted to sell anything.

So what if the homes were overvalued, it really did not matter.

So when it all blew up regulators changed the rules for appraisers.

No longer could the lender hire an appraiser directly, he had to do so through a 3^rd party.

The 3^rd party appraisal companies wanted to make money so they are hiring the lowest cost appraisers who may not know the local market as well as they did before the bubble popped. And they know for a fact if they come in too high they will never get work again from the 3^rd party referral company.

So they are coming in low. They want to work too.

And that is why getting an appraisal is so tricky these days.

We made it that way.

Read More Here: The Real Estate Bloggers

Chicago Realtor Yuval Degani observes that humans are sensory creatures, and says you should pay attention to the judgments potential home buyers might pass as they walk through your home during a showing or an open house.

Here’s how to appeal to the most buyers by staging according to the five senses:

Staging By Sight Rooms should be neat and free of clutter, and personal items should be removed. From artwork to photos, trophies to knickknacks, any item that reflects your family’s interests should be replaced with simple, classic décor. The buyer needs to imagine their own life in this house.

Staging by Smell Not only should each room be neat and clean, but you want it to smell fresh as well. Fresh, however, doesn’t mean the overpowering scent of harsh chemical smells such as bleach should be present. A simple air freshener with a light scent will suffice. If you’re a pet owner or smoker, you’ll have to do your due diligence to clear the air by sending your pet to a neighbor’s and cleaning the carpets and furniture to get the odor out.

Staging by Touch Is something broken or chipped, such as tile, wobbly handrails or missing or lose handles from a kitchen drawer? Make sure to do any of these so-called minor repairs before showing your home, as they can be a red flag to buyers that if even small things have issues, there might be major structural defects as well.

Staging by Hearing Make sure that all potentially distracting noises, whether that’s a barking pet, radio or a television, are off. Again, you want buyers to focus on their experience in the home and not on deciphering what a noise is and where it is coming from.

Staging by Taste If you have an open house, you should have some food and drinks on hand. Keep it simple, however. While you want there to be a festive atmosphere in your home, you don’t want to serve something that’s too difficult or messy for guests to handle

Read more: Use All Senses to Stage Your Home | REALTOR.com® Blogs