Shawn Russell

It's been a while since I aired the lastest dish on the real estate scene in Houston ...

Needless to say business has picked up now that first time home buyers (if you havent purchased a home within the last 3 years) $8,000 tax credit can be used at closing for closing costs ... using the FHA loan and a seller's contribution at closing ... first time home buyers are able to take advantage of the low prices on homes in the Houston market ...

There seems to be a really big need for more homes to sell ... I am literally asking people if they could sell their home so my buyers can purchase them ...

It's a good time for both buyers and sellers because sellers can move up to a bigger yard for the kids, dogs, and pool if needed ...

Stay tuned for more good real estate in Houston to come!

Yours,

Shawn

Why are seller's pricing their properties well above the average sold's for their neighborhoods.

Could it be that they are not getting the information that they need? I see so many homes listed that are over priced and not selling. I can only imagine that the seller(s) are wondering why they are not getting any contracts. The pressure for a listing agent to sell an over-priced home becomes unbearable. Is it worth it to take on an over-priced listing in hopes that the seller(s) will eventually lower it.

I think that an over-priced listing is hurtful to everyone involved. Unless, of course the seller really doesn't want to sell and is just "fishing" in the market. I receive calls all of the time from would be seller(s) who want to know what their property might fetch in today's market. I have to be honest with them. It does no one any good to pump up the price so that potential buyers are left wondering why the price is so far above everyone else in a comparable market.

Homes that are priced right sell fast. A 5 - 10% above market pricing is more enticing than a price point that is clearly out in left field. Unless, the seller is willing to work in the "right" price point ... frustration is bound to rear it's ugly head.

If you have talked to any of your realtor friends, just ask them ... how's business?

Business is booming! All of the agents in my office have contracts in title and more are on the way. With interest rates falling and with spring in full force home buyers are anxious to find their dream home.

If this weekend is any indication for what is to come in the next several months ... get ready because Houston is poised for yet another banner season.

Do real estate agents make a lot of money?

You bet they do. What on earth do they spend all of that money on? Let's talk about advertising. My first year I made 42K however, I spent 14K on flyers, Sunday News Ads, Lunches for clients, Broker Open Houses, Signs, Helium & Balloons, lots of gas for driving myself and clients around, dues, classes and fees, broker fees and commission splits, other agent commission splits, taxes to uncle sam, design and media fees, and plenty of books and tapes to educate myself in the art and science of real estate.

I went through a change in my way of thinking too. Working for 100% commission is a new mental concept not for the faint of heart however, through time I learned to rely on myself to make things work out. You have to be an optimistic person at heart and love real estate to help people find the home of their dreams.

I make a lot of money in real estate and I want to give some it back to my community. Therefore, I have made a pledge to give 10% of my proceeds to CAP (Citizens for Animal Protection). This organization is top-notch and I suggest that friends and family become a contributor also.

If you are an agent and you know that you make a lot of money, set some money aside to go to your favorite charity. Charities need our support now more than ever before.

Good luck and good giving!

I've been watching the Royden Oaks market for the last year and a half to see if there has been a huge drop in average prices sold in that area. And guess what, I hardly think a drop of $4 / sqft is cause for alarm.

In fact, the Royden Oaks area is going to get a big boost from the trickle down effect from the two large multi-million dollar mixed-use projects popping up right in that area.

From Nov. 06 to Nov. 07 there was a property value increase of 17.48%. Will we see that again between now and the end of 09? We have only seen a 1% drop in property values over the last 6 months on the average, so really is there cause for alarm?

With all the building going on in this town watch how Houston will be a magnet for investors nationwide.