About Conroe's Lake Conroe

A few blogs ago, we discussed what a Buyer's Market is. Basically this means that buyers have an advantage over sellers because of a down market resulting in fewer buyers. Right now this means "qualified" buyers.

If you are in the market to buy right now or in the future, there are some strategies that you can do to set yourself apart from other buyers. Of course you want the best deal out there and so does everyone else. Therefore, you need to be proactive as a buyer.

One of the first things that you can do is to insure that you are a qualified buyer. Check your credit scores and make sure you have the highest scores possible. There are many things that you can do to improve your credit scores. Check out the Internet for some great companies that assist you in watching your credit scores.

If you are thinking about applying for a new loan, now is NOT the time to make any new purchases or open any accounts. Wait until you close on your new home to do these things. You certainly do not want to get to a closing and be unable to complete the transaction because of a credit score going below what you were a few weeks prior.

Only buy what you can afford. Most lenders are requiring 20% down payments. If your credit is good, you can sometimes get away with 10% down. The more you put down, the better the rates will be for you.

You also want to make sure that you choose only a reputable lender. In the wake of all of the bad lending that went on in the past, it is imperative that you check out the mortgage broker carefully. Also, make sure that the loan product that you are purchasing is one that you understand and works for you. Be wary of adjustable mortgages. When the rate increases after your low interest period, many people are unable to keep up with their payments.

Lastly, work with a strong buyer's agent. A buyer's agent works only with buyers and knows the market! They are savvy in negotiating and are working on YOUR behalf! If you find an agent with the designation of Accredited Buyer's Representative or ABR, you know that you are working with a REALTOR who has taken measures to be the best buyer's agent that they can.

It's a great time to buy? Are you ready?

Lake Conroe Real Estate

Remodeling is the buzz word right now for homeowners. Just flip on the TV and you can watch show after show on remodeling tips. So, what is a homeowner to do? Does investing in remodeling really help your overall home value?

Before you take that sledge hammer to your home, consider these facts as reported by the National Association of REALTORS®:

• Consider the area of your home that you would like to remodel. Not all areas are as valuable to the appreciation value of your home.
• Typically the areas of the home that bring the highest return are the kitchen, siding replacement, deck replacement or addition and higher end windows.
• Areas that have shown a low return for remodeling have been adding studies, converting extra bedrooms into master baths or large closets. For one client this might be great but for the majority of buyers out there, you have just cut down on your available bedrooms. This in the long run might hinder your resale value.
• Before deciding to remodel, it is also important to remember what colors you will use. Don't go out on a limb and choose loud or bold colors. Not everyone likes them. The more neutral you go, the safer it will be for resale.
• Another important factor to consider before remodeling is what type of materials you choose. The best rule of thumb is to choose moderately priced materials. Choosing really low-end or extreme top of the line materials are not wise investments.
• Be very careful to use remodeling contractors that have good references and are licensed by the state of Texas. Remember the rule of thumb, you get what you pay for.
• Unless you are highly skilled in doing carpentry work, plumbing, etc. hire a professional. More homes are botched by well intended homeowners trying to save money but in the end, can't finish a project or have a project that really does look like poor workmanship. In these cases, the homeowner ends up spending more money to have someone come in and repair the work.

If you have a local realtor that you work with, give them a call. Real estate agents go into so many homes and can tell you honestly if you need to remodel or not. Additionally, they can help guide you toward honest and trustworthy contractors.

Lake Conroe Real Estate

There is not a day that goes by that someone does not stop and ask me, "Is real estate still a good investment?" I love that question because it allows me to share the really good news about real estate. For those of you who study the economic history of our country, there are common ups and downs in the economy. The market changes and everyone must make a shift.

Historically however, owning land, homes and businesses in the United States has been an overall better investment than many have fared in the stock market. With real estate, especially in our area, this tangible asset has held its own. Of course we have seen prices take a dip but that is a simple market correction. What goes up will go down and also what goes down will come back up.

Real estate ownership has and always will be the American dream. We can never forget the importance of this fact. Now more than ever, I personally am very glad that my assets are in real estate. I am always drawn back to the scene in Gone With the Wind where Scarlett O'Hara is gripping the soil in her hands while her father tells her that owning land is everything.

Because home prices are lower right now, it is the perfect time to purchase. Consider buying a home to lease out. You can get some great deals out there, turn around and lease it and have instant mail box money. In fact, the statistics are very strong towards a leasing market! When the market is up again, you can considering selling the leased property at that time. The options are endless.

I believe that Texas is still the best kept secret! More and more people however, are figuring this out and our school enrollment that keeps increasing every year in Montgomery County is a huge indication of this. Owning property now I believe will be a great bet as the demand for housing continues to increase in Montgomery County.

I recently heard J.R. Moore, our county Tax Assessor speak. I was highly encouraged with the report that he had on Montgomery County. Folks, take a look at this report. You can find the report on the website for Montgomery County. I believe that you too will be as encouraged as I am.

So yes, Scarlett - now is a good time to consider investing in real estate! Don't wait around and think about it tomorrow - take action today!

Lake Conroe Real Estate

Everyone is talking about the market being a "Buyer's Market". So, what does that really mean?

A true Buyer's Market indicates that there are more Seller's than Buyer's which results in Buyer's having an advantage when choosing to buy a new home. With more inventory out there, Buyer's typically have a better choice of homes to choose from.

Even though it is a Buyer's Market, it is still good to be an informed buyer. You need to know the market to truly know if a home is a good buy or not. Also, you need to be a strong buyer. A strong buyer is one with good credit scores, pre-approved by a lender, being able to offer a good closing date and have the ability to present solid earnest money.

Working with a licensed Real Estate Buyer's Agent is always advised. Buyer's Agents work on behalf of THE Buyer, not the seller. As a buyer, you want someone who is looking after your best interests. Licensed Texas Realtors use a form called the Buyer Representation Agreement. This agreement is very important to you the Buyer. The agreement can be made for only one day or for a specific time frame.

A Buyer's Representation Agreement allows an agent to represent you in all areas of your transaction. The Buyer's agent will be able to provide you with comparative market analysis on the areas that you are interested in. Being provided with the latest information will allow you the buyer to make the most informed and competitive offer.

Working with a buyer's agent also gives you the advantage of knowing your contract has been presented properly, inspection reports items to be negotiated and all other areas of the transaction represented on your behalf.

When you are ready to buy a home, make sure and find a qualified buyer's agent who has experience in your local market. Your home buying experience will be much easier when you have an agent on your side that you know you can trust and depend to fully represent you.

Now that the market favors you the Buyer, what are you waiting for? The good deals are out there right now and the best deals will go first. With the great interest rates, now is a key time to get busy and find that new home you have been waiting for!

Lake Conroe Real Estate

Last Thursday, the entire Franke Team supported Marion at the Lone Star College Small Business Awards Dinner at the Waterway Marriott. What an awesome event this was! The Franke Team filled up three tables as we cheered on Marion! We all had a lot of fun being "out of the office" for awhile. Sometimes you just gotta play!

Although Marion did not win the overall award, it was truly an honor being recognized for her efforts as a small business. Marion told us that being in the finals for this award validated all of her hard work over the years as a woman and a Realtor. We are very proud of her and we are proud to be a part of such an awesome team!

Marion and her husband Bruce have always given back to the community in many, many ways. From the Heart Association, Montgomery County Food Bank, local scholarships, Law Enforcement and much more, the Franke's tirelessly give from their hearts!

Next year we will be back and Marion WILL be the winner! She deserves it!

Click Here for a Photo Gallery of the event