About Conroe's Lake Conroe

Marion and I have discovered what is at the end of the rainbow...Hawaii!

Last week we returned from our cruise around the Hawaiian Islands. It was so beautiful I can't even begin to describe it. I'm not going to go into too much detail as I know it will make ya'll green with envy. I just want to say that it was absolutely the most relaxing and enjoyable trip I have had in quite a while. Cruising with a group is a great way to travel. You can have as much together time or alone time as you want. We would take our excursions during the day and share our experiences at dinner. Travelling with enjoyable people to a fantastic destination is the best medicine for the winter doldrums.

But for now it is back to work...

While we were away it seems that nothing monumental happened. Our business seems to keep moving along, while at a slower pace, it is still moving forward. We have been so fortunate in our little bubble down here, while there are lay-offs and businesses closing, it doesn't seem as bad as other parts of the country. While in Hawaii (oops, there I go bragging again) we visited with cab drivers, tour leaders, etc. who shared with us that their business is off by about 40%. We debated long and hard about going on this trip as we, along with millions of people, aren't sure what tomorrow will bring financially. But after talking with people in the tourist industry I am glad that we followed through and went on our wonderful trip. While we may not have contributed greatly to the economy in Hawaii, I feel that we did a small part to help them out. I guess the saying "inch by inch" is true. If we all do small things they soon grow into noticeable events. Take a minute out today to do something small for someone else --- pay their toll, give them a compliment, hold open the door --- any one of a million little things will make someone's day better and maybe take their minds off the economy for a few minutes.

Have a wonderful week and enjoy the spring flowers.

Article by: Carol Hawkins

It is no secret that both the residential and commercial real estate communities across the country are bracing for challenging times in 2009. All of us need to be thankful that the Montgomery County and Houston area have been somewhat insulated, but certainly not immune to the challenges affecting the rest of the nation.

Charles Gibson of ABC News was in Houston on Monday & Tuesday (March 23^rd & 24^th) reporting that Houston is one of the last regions in our country to feel the painful effects of the recession. He also reported that the overall unemployment rate in the nation is 8.5%, whereas the Houston area is 6.5% - the lowest in the nation.

In my opinion and backed up by market data, the reason that Montgomery County and the Houston area are the last regions in the country to feel the affects of the downturn of an economy gripping so much of our nation, is because we never really had a "bubble" to burst. The Houston area and surrounding counties held steady in their real property values. There were no 50% to 100% increases; just steady 5%, 10%, 15%, 20%, etc.

Certainly, I feel a strong sense of confidence in words of wisdom from Realtors® who survived the 80's. Mario Arriaga, a long-time commercial broker in the Montgomery County area, indicated that his firm has had lots of inquiries to buy commercial land and/or buildings; however, the biggest part of the equation is the financing. As a result of the credit crisis sweeping all financial markets, purchasers of real estate have seen dramatic adjustments in lending principles over the last several months. When lenders loosen their purse strings, the market will definitely make a rotation in the right direction. Right now clients are looking into rental space and to purchase buildings. Transactions are ongoing but the negotiations are just more challenging.

Typically, banks are more willing to lend money on owner occupied properties. If you are thinking of moving your business, you might consider a building that you could both occupy and lease out in order to offset the payments. Many business owners are able to secure acceptable financing for real estate purchases, if they find the ideal property and if they can meet the financial requirements; this is an excellent business transaction. Lately, we have seen a few all "cash" transactions which show that real estate is still a safe investment if the price is right. Even at 10% annual appreciation, where can you go to invest at a comparable rate?

Speaking for myself, my associates and long time Realtor® compadres (in business for 30 years or longer), I feel that we are in for a steady ride through the end of 2009, but 2010 will come in with a roar!!

Article by: Dixie Estep

Montgomery County Texas Real Estate

Things in the real estate industry continue to change on a daily basis to help balance the problems that the economy has created. Also because other areas of the country are facing big hurdles in their markets, the trickle down effect is very much in play.

Thankfully for those of us in Montgomery County, the market here is not as foreboding as many states. We are fortunate that although we have felt the result of the negative information out there, our market is still strong and steady.

What has resulted in our area however, are homes not moving as quickly as they did a year ago. With the mortgage fraud, tighter guidelines have been set in place and lending standards are tougher. This is good overall for our industry in the long run.

What all of this means to Seller's right now is the fact that lenders are tightening their lending guidelines, the appraisal of your home is paramount. If you price your home way above market value, the appraisal will come in lower and you will be faced with either losing a sale or asking a potential Buyer to come to the table with more money.

To circumvent an off-balance appraisal, effective pricing is key. If your goal is to truly sell your home now, you will need to be aggressive on your asking price. A good REALTOR can guide you by providing you with the latest market analysis for your neighborhood.

Do not rely on what your neighbor got a year ago when they sold their home. The market is different now and we have to look at sales that are much more current. Lenders are sometimes asking Appraisers to send many reviews to the table before they will approve a loan.

Fortunately for us, here in Texas we have not allowed our appreciation values to soar out of sight as some parts of the country did. We have maintained a steady increase while keeping our appreciation rate in line with the economy.

If you are thinking about putting your home on the market, things are still selling and closing daily. It is a good time to sell, the key however, is to price your home per the market standards. A market savvy REALTOR can guide you on just the right price to sell your home!

Lake Conroe Real Estate

You've made the big decision to sell your home! The all important question then begins - how do I price my home effectively?

This is one of the most important decisions that Seller's must consider when making the decision to put their home on the market. Because of the changes in the mortgage industry affecting the tightening of the appraisals on homes, pricing becomes even more important.

Choosing a Realtor with experience and a proven track record is key. A Realtor who has been through many different markets will know the keys to success in correctly pricing a home. The challenge for realtors however, are the many Seller's that are still viewing their home with too much emotion.

A very important aspect for every Seller to understand prior to putting their home on the market is looking at their home in a completely different way. It is imperative for the Seller to look at their home as a product that now needs to be packaged to be sold. The advertising industry spends millions of dollars packaging products to sell! It is no different for selling your home.

• Price your home to be "in the market not on the market". Basically, price your home competitively, objectively and with an open mind.
• Narrow the dates of the comps that have sold on the market. Rather than look at what sold a year ago, focus on the sold properties in the last 3 - 6 months.
• Study your competition. Really take a close look at what is for sell in your neighborhood and ask yourself what it would take to make your home stand out!
• Choose a realtor with a keen knowledge of the market and who is an expert at marketing a property!

Are you ready to sell? It's still a great time to put your home on the market! Spring is here, interest rates are good, people are continuing to move into the area and Montgomery County continues to see real estate moving very well compared to other areas!

Lake Conroe Real Estate for Sale

In our current economic climate, it is more important than ever to have good credit scores. Conditions always favor those with better credit scores along with more equity when lending money. Lenders are now looking much harder at proof of income and employment than they were a year ago.

A local mortgage broker states that, "A credit score of 620 and up for an FHA loan and a score of 720 and up for a conventional score, are the new standards." What this means is anything less than those standard scores will result in taking a higher hit on your rates. If you want the best rates, you will need to meet the minimum standards set for the credit score.

So what can you do if your credit scores are not where you want them to be? Your first step is finding out what they are and then keeping up with them and looking at ways to lower them. There are some excellent online services that help you monitor your credit scores. For a minimal monthly fee, you can see all three of your credit reports and be alerted if something changes on them. This is also a good thing because of identify theft and fraud.

1. If you are in the market to purchase a new home, there are many things that you can do to be proactive in increasing your credit scores.

• Know your scores! Look at all three credit reports from TransUnion, Equifax and Experian. Be aware of:
• Wrong mailing addresses
• Incorrect Social Security numbers
• Old employers
• Signs of identity theft - unusual charges, etc.
• Errors in your accounts
• Late payments
• Unauthorized inquiries

2. Make corrections when needed! Send letters of disputes to your creditors if you find any inaccuracies.

3. Make an improvement plan. Sign up for automatic payments and most importantly, get your balances below 45% of the credit limits.

4. Never close old accounts. Either keep a low balance or a zero balance. Actually closing the account can lower scores.

5. Monitor your credit. Being educated on your scores will keep you abreast of any changes that are made to your scores.

The bottom line is, it is your credit! You need to keep an eagle eye on it and know your scores. A few little things here and there can make a big difference for you.

Lake Conroe Real Estate and Homes for Sale