Do you have clients who are pondering whether or not they should list now?
You're not alone. 
Here's an excerpt:
I received a call yesterday from someone who said, "Laura, I know it's not a great time to sell. Should I put my properties up now or wait until spring?"
The first part of the answer depends on a seller's personal goals. If a seller has no place to go, plans on purchasing in the future or has other external factors that push their time line out, it may make sense to wait until those answers are figured out and there's less uncertainty. This can be the case for any seller at any time of the year.
But my seller has several properties to sell - one is her primary occupancy and two are investment properties. She already plans on renting a place temporarily if her property sells before she relocates to California. So what should she do? List now or wait until spring?
To me, the answer is obvious: List now.
There are six main advantages for a seller to list now (in the winter) instead of waiting until spring:
1. Inventory - In the spring, how many other sellers will end up using the same strategy? They may have been waiting a year or so until the market got better, or just figured it was the best time to list their property. So come March, April and May, there will be that much more competition to potentially compete with. By listing now, you avoid all that potential competition.
2. Motivated buyers - Often, many buyers will just wait until spring to start their search. They will just be starting the process. Believe me - the buyers who are house hunting during the holidays and in the winter are serious and motivated. By listing now, you'll potentially get one of these buyers to write a deal on your property.
3. Mortgage rates - "Rates, rates, rates". The mortgage rates right now are at three-year lows. The average 30-year mortgage is in the low five-percent range. This is actually causing an uptick in buyer traffic and activity. I think November, December and January will end up being busier months for many agents than July through October 2008, which is an anomaly. By listing now, you'll catch this wave of buyers shopping for houses since mortgage rates are so low.
4. Buyer confidence- Buyer confidence is starting to shift, which is also increasing buyer traffic. Another cause for increased traffic is the $7,500 first-time home buyer tax credit, which expires in mid-2009. A buyer has to settle on their property before that time-frame. By listing now, you're taking advantage of this trend of increased buyer traffic.
5. Accomplish your goals now - When it's all said and done, wouldn't you rather have your house sold by March or April, and move on with your life rather than just listing your house then? I love it when we accomplish our goals ahead of schedule - it's a great feeling. By listing now, you're positioning yourself to accomplish your goals sooner rather than later.
6. Reverse fear - Not to buy into the media's doom and gloom, but there's always a risk that the housing market could deteriorate more instead of picking up by mid-2009. In addition, the reality of the market getting that much better in a short period of time is remote. I doubt that waiting until spring will yield a sales price that could be higher by 10 percent. In fact, it could even be a little worse if you think the economy is going to deteriorate as the unemployment rate continues to skyrocket. By listing now, you avoid that extra layer of uncertainty.
If you or some one you know is considering selling their home and would like to speak with a professional about value and the best time to sell give me a call at 281-797-3941 or visit one of our sites below.
Brought to you by!
The Watson Group Realty
Re/Max Galleria Associates
4703 Richmond Ave Ste. B2
Houston, TX 77027
Office: 281-797-3841
Direct: 281-797-3941
E-mail: thewatsongorup.remax@gmail.com
www.cincoranchkatytexasnewhomesforsale.com
http://www.houstongalleriahomesforsale.com/Galleria_Home_Evaluation/page_2167302.html
http://www.houstoninnerloophomesforsale.com/Home_Evaluation/page_163208.html
http://www.houstonmedicalcenterhomesforsale.com/Home_Evaluation/page_163208.html
CLEAN. Your home must shine! Do it yourself or hire a professional cleaning crew. While you home is for sale it's probably a pretty good investment to have a cleaner come in every week. Most cleaners do not do windows, so have them professionally cleansed inside and out and be prepared to redo the windows after major storms.
The two most important areas are the kitchen and the bathrooms. Deep cleaned all counter and tile surfaces to a spotless condition. Another critical area is the floors - all carpets and rugs, either have them replaced or steam cleaned.
REPAIR OR REPLACE. Staging is not to hide defects or items in need of repair. Everything must be in inspection ready condition. If the buyer does not initially see the problem, a trained and thorough inspector will.
DE-CLUTTER BOTH OUTSIDE AND IN. This can be the biggest challenge for a homeowner. Potential buyers must be able to see your home and be able to imagine themselves living in your home. De-Cluttering helps accomplish this.
DE-PERSONALIZE. Remove objects that your potential buyers won't be able to identify with and styles that are not neutral. For example, political and religious items may turn off whole groups of buyers. Special color and themes need to be removed as well. Buying a home is an emotional decision, and you want potential buyers to make an emotional connection with your home by being able to "see" themselves in it.
If you or someone you know is considering selling their home give, The Watson Group a call at 281-797-3941 or visit www.freekatyhomevaluation.com to recieve a free home evaluation and sellers warranty.
Brought to you by!
The Watson Group Realty
Re/Max Galleria Associates
4703 Richmond Ave Ste. B2
Houston, TX 77027
Office: 281-797-3841
Direct: 281-797-3941
E-mail: thewatsongorup.remax@gmail.com
www.cincoranchkatytexasnewhomesforsale.com
City revises ordinance after 2008 incident
City of Katy residents are no longer allowed to keep livestock, including cattle and chickens, on property smaller than 1 acre, according to a revised city ordinance.
Katy City Council adopted the amended ordinance to prevent livestock from becoming a nuisance in the city after an incident last year in which goats had been found freed from their property during a flooding incident.
Late last year, the city enacted a moratorium on all livestock permits until the revised ordinance went into effect in December. The previous ordinance allowed residents to keep livestock on property smaller than 5 acres if they obtained a permit.
The new ordinance prohibits residents from keeping, maintaining or breeding livestock on land less than an acre. However, residents who wish to keep cattle or other livestock on property larger than 1 acre must obtain an annual permit from the city.
City officials will inspect residents' property and area where animals will be kept before a permit is issued.
Residents have spoken out against the ordinance at recent City Council meetings, asking Council to not proceed with the revisions.
But Council members supported the ordinance, saying it's necessary to prevent livestock from becoming a problem as the city of Katy grows and expands.
Katy Mayor Don Elder Jr. said the ordinance has been revised to benefit all Katy residents. He said he doesn't expect any additional major changes to the law but added there may be minor tweaks made in the future.
"We want it to be usable for our citizens without them having to make major changes to their property," Elder said. "But we want to ensure that the animals aren't a nuisance."
The only exceptions indicated in the ordinance include students who are raising livestock as part of 4-H or Future Farmers of America projects. Those students can keep livestock on property less than 1 acre as long as a waiver has been signed by all landowners within 300 feet of the property.
Council members want to make sure the FFA kids get to keep their animals.
In addition, the revised ordinance does not apply to livestock projects and activities that take place on property owned by the Katy Independent School District.
Any resident found in violation of the ordinance will face a fine of up to $500 per day. So far, city staff are not aware of any violations.
For more information about the revised ordinance or to discuss obtaining a permit, call 281-391-4800.
Brought to you by!
The Watson Group Realty
Re/Max Galleria Associates
4703 Richmond Ave Ste. B2
Houston, TX 77027
Office: 281-797-3841
Direct: 281-797-3941
E-mail: thewatsongorup.remax@gmail.com
www.cincoranchkatytexasnewhomesforsale.com
As an active full time Galleria/Inner Loop/Medical Center RE Agent, I want to point out a buy now or later decision effects some but not all. Many people are moving in to the area, marrying/divorcing/expanding their family, etc and they may need to buy now regardless of what may be happening in the market. For those that are contemplating but don't have a specific requirement, it's a question of trying to time the market similar to the stock market. The problem with that is, the general public info lags behind on both up and down swings. For example, this report references October, fully 6 weeks behind us. It was slower than average as was Sept but Nov & early Dec have picked up steam again in the Inner Loop. Builders have burned off some of the new home inventory that was building up and permits for new construction are down so it should keep supply and demand in check for most price points in most Inner Loop markets. Many articles being published now are looking at national trends in RE. Even local articles can be deceiving as they are lumping Houston and surrounding area statistics together. Most Inner Loop markets, with few exceptions, are still very strong and not expected to have the fall out that is being seen currently in some outlying suburbs. The downturn in these markets may never materialize or be inconsequential and trying to time the market where info lags behind may only force a buyer to pay more if they are betting on a downturn. Rates continue to be great for qualified buyers and the Inner Loop in general appears to be stable and steady. Get with a qualified Realtor you trust to get further in depth questions answered or I'm happy to help and provide specific area statistics and answer questions. laurawatson@remax.net
Brought to you by!
The Watson Group Realty
Re/Max Galleria Associates
4703 Richmond Ave Ste. B2
Houston, TX 77027
Office: 281-797-3841
Direct: 281-797-3941
E-mail: thewatsongorup.remax@gmail.com
www.houstongalleriahomesforsale.com
Here are a few facts about the process of purchasing HUD homes in today's market. As our economy and real estate market continue to erode, more and more homes are going into foreclosure. There is an estimated 750,000.00 foreclosed properties on the market and another 5-7million home owners behined or in default on their mortgages. An estimated 2.2 million of them will be foreclosed on in 2009. This type pf market proposes great opportunities for investors and new home buyers if they understand the facts and risk that come with purchasing foreclosed properties.
FHA loans are made by private lending agency's. Theses lending agency's are insured by HUD. The premiums for the insurance is paid for by the homeowners who borrow money for this program. Like Any other loan, if the note is not paid monthly, the homeowner "Defaults" on the loan and the lending agency starts foreclosure proceedings. Once started, it is normally inevitable that the lending agency will take the property. The lender in this type of foreclosure does not get stuck with the property. The agency will deed the property and house back to HUD. HUD, being 100% vested in the property, begins preparing it for sale through a network of "management and marketing" contractors. These contractors immediately start the process of marketing the home for resale. However, they have a process before it goes on the market. the marketing contractors will fix it up prior to sale. They will fix and change out many things. However, you will find that the market contractors don't fix everything and this is what makes it advantageous for you.
The great news about a HUD home is that anyone can buy them. You don't need to hold any special license or have a special qualification. The only thing you have to do is to pay for the property. You can use any type of financing that you want, so the rate you pick for the mortgage on the home will depend solely on you.
The bad new is that buying a HUD home is that they are often in bad disrepair and are in the need of a great deal of work. Remember, I told you that the market contractors don't fix everything. As a matter of fact, they fix a little as possible so they can get paid quickly and move on to another home. A lot of times the repair of a HUD home means that you will have to bring the house up to code. If the home is over 50 years old, most homeowner insurance policy's will required a number of inspections by qualified contractors prior to them issuing insurance on the home. I know this article is about the opportunity of purchasing a HUD, but I want you to be informed prior to taking control of the property.
HUD normally resells the property and it will be "as is". They make no warranty on the property as to the condition. This means a bargain for you. Anyone who can make the repairs themselves or hire a contractor for little money can expect to earn anywhere from $10,000 to $25,000 profit on each home. The more expensive homes should be able to receive a net profit of $20,000 to $40,000 per house after all the repairs have been made.
Right now is a great time to consider purchasing a pre-foreclosure or foreclosed home. However, I recommend that you work with an agent or someone that is experienced with handling foreclosure transactions to insure you are getting the right information and counsel. Keep in mind not all foreclosures are a great deal! If you ever have any questions or would like us to assist you with finding the right foreclosed propert,y send us an e-mail at thewatsongroup.remax@gmail.com or click on the sign up link below. We are HUD approved and can provide you with a wealth of information on how to find the best deals on the market! http://www.thewatsongrouprealty.com/remaxtx/modules/global/forms/consumerrequest.asp?AccountID=128831
Brought to you by!
Laura & Rod Watson
The Watson Group Realty
Re/Max Galleria Associates
4703 Richmond Ave Ste. B2
Houston, TX 77027
Office: 281-797-3841
Direct: 281-797-3941
E-mail: thewatsongorup.remax@gmail.com
www.katytexasforeclosuresforsale.com
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The Watson Group Realty specializes in: Residential Listings, Foreclosure Prevention, Short Sale Listings, REO Properties, and New Home Sales in Katy, Cypress, Galleria, Medical Center, and Inner Loop
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