Results Realty Buzz: Texas

Informing you on the Real Estate Market in Spring Texas and the surrounding areas and other interesting tid bits!

Texas Real Estate - Looking back to 2009 and forward to 2010!

At our last Montgomery County REALTOR® brunch the speaker was Jim Gaines who is a research economist with Texas A&M Real Estate Research Center.  He spent some time looking at last years housing market and then brought his crystal ball out and looked at what is in store for us this year. 

Here's what he had to say about housing in Texas in 2009:Jim Gaines from Recon gives his Texas real estate forecast

  • Texas lagged in the recession; in 2008 we took a pass.  In January 2009 we joined in.  Typically Texas lags going in and lags going out.  We didn't fall as far and have as many problems.
  • Tax Credit did help - 10 to 12% increased sales volume - Sales that happened that would not have.
  • Foreclosures and home builder concessions kept home values down.
  • Appraisal issues became a major issue in purchases.
  • Lenders have made purchasing mortgages difficult to get. Jumbo loans were almost non-existent.
  • Texas as a whole was down about 8% in 2009.  The median and averages prices didn't change which is good.
  • On a whole 2009 was relatively flat.
  • There was not much recovery for home builders but it shouldn't get much worse.
  • Parallel to what happened in the 1980's. 

Here's what he said about Houston in particular:

  • Houston ended the year with a 6 month inventory.  We were down about 8%.  The median price was flat.
  • #1 home building area in the country even though we are down 50%.
  • We are poised for a boom for the 21st century; both population and business growth.

 Then he brought his crystal ball out and tried to give us some ideas for 2010. (Just kidding he didn't have a crystal ball and told us so!)

  • Bill Gaines research economist at Texas Real Estate Center gives his forcast for 2010We will probably have low interest rates for first half of the year. For the second half of the year it is possible that interest rates may increase from 5% to 6.5%.
  • Job losses will go flat but we won't see much gain.  2010 is likely to be a year of damage control.
  • Flat to Low growth in the housing market.
  • In-migration should pick up.
  • Home prices decline MUCH less than the last 2 years.
  • Government stimulus should be over.  He didn't see politicians voting for it again but have $ left over.
  • State & Local Governments & school districts are going to have to restructure.
  • Foreclosures continue through 2011.  5 year arms that were given in 2005 are going to come due. (They were sometimes called liar loans.) They had negative amortization, strategic defaults. So far upside down that even if they could meet it they will probably walk. Which means we are looking at having quite a few additional foreclosures.

It wasn't a totally rosy forecast but if you are looking to buy a house it sounds like this is the time to find a deal. On the flip side when you are selling you may not get as much as you want but on the positive side if you are looking to buy another home you will get a deal on the house you buy. 

I also think in the big scheme of things a flat market is good!

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If you are buying or relocating to Spring Texas or Tomball TX and need help from a professional REALTOR®, Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332. 

If you would like information about Spring-Tomball TX please visit my websites at www.AgentwithResults.com and at www.ResultsRealtytx.com. The AgentwithResults site is rich in Content about Spring and the surrounding areas of Tomball, The Woodlands and Magnolia.  If you prefer pictures with your content then visit my ResultsRealtyTX site.

Want to find out about new Spring-Tomball TX properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Search for home in The Woodlands Creekside VillageClick the button to the left to search our local MLS.

Subscribe to Results Realty BuzzSubcribe in a reader

Copyright © 2010 Marchel Peterson, All Rights Reserved.*Texas Real Estate - Looking back to 2009 and forward to 2010!!*

TX specific real estate websites - Foreclosures & Housing Programs!

Texas specific real estate websites!The Texas Association of REALTORS® along with NAR and a few additional organizations have launched two websites to help consumers with real estate issues.

www.KeepMyTexasHome.org is a resource for Texas homeowners who have become or may become behind on their mortgages.  The site outlines the foreclosure process in Texas.  It is an ideal site for a consumer who may be facing foreclosure to get some answers.  It has a section on "what you can do" and another section on "what if you can't stay in your home".  It also has a section on "renters and foreclosure". 

www.TxHomePrograms.com  is part of an NAR pilot program.  This program offers a continuously updated database of state-wide affordable-housing programs.  It allows the consumer to search for specific types of programs.  It also has a real estate glossary and provides helpful consumer information.  A good example would be issues on predatory lending. 

I hope these sites help.  If you have any additional questions please don't hesitate email me or give me a call at 832-721-8332.

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If you are buying or relocating to Spring Texas or Tomball TX and need help from a professional REALTOR®, Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332. 

If you would like information about Spring-Tomball TX please visit my websites at www.AgentwithResults.com and at www.ResultsRealtytx.com. The AgentwithResults site is rich in Content about Spring and the surrounding areas of Tomball, The Woodlands and Magnolia.  If you prefer pictures with your content then visit my ResultsRealtyTX site.

Want to find out about new Spring-Tomball TX properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Search for home in The Woodlands Creekside VillageClick the button to the left to search our local MLS.

Subscribe to Results Realty BuzzSubcribe in a reader

Copyright © 2010 Marchel Peterson, All Rights Reserved.*TX specific real estate websites - Foreclosures & Housing Programs!!!*

 

The Ravages of Winter in Spring TX!!

Ravages of Winter in Spring TX

We have had a rough winter here in Spring TX.  The picture above says it all.  This story is repeated at home after home in our area.  It is so sad to see all these dead palm trees.  We are now starting to see trucks filled with dead trees.  Look below and you will see this same home in a winter picture just a few years ago.

Winter in Spring TX

You can see that the palm trees were smaller but very green.  We have heard so much about global warming in the last number of years and now that it is no longer warming we are hearing climate change.  I decided to go back in history and found that in 1940 it actually got down to 5 degrees here in Spring TX.  This is my personal opinion but I think it is just cyclical changes.  So what do you think?

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If you are buying or relocating to Spring Texas or Tomball TX and need help from a professional REALTOR®, Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332. 

If you would like information about Spring-Tomball TX please visit my websites at www.AgentwithResults.com and at www.ResultsRealtytx.com. The AgentwithResults site is rich in Content about Spring and the surrounding areas of Tomball, The Woodlands and Magnolia.  If you prefer pictures with your content then visit my ResultsRealtyTX site.

Want to find out about new Spring-Tomball TX properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Search for home in The Woodlands Creekside VillageClick the button to the left to search our local MLS.

Subscribe to Results Realty BuzzSubcribe in a reader

Copyright © 2010 Marchel Peterson, All Rights Reserved.*The Ravages of Winter in Spring TX!!*

7711 Post Bridge in Coventry, Spring TX!!

This beautiful home is located in Coventry in Spring TX, within walking distance of Augusta Pines Golf Club. 7711 Post Bridge listed at $149,000 by Marchel Peterson Results Realty.

    7711 Post Bridge in Spring TX

Near THE WOODLANDS' diverse shopping and entertainment venues, this home says, "Welcome Home!" Augusta Pines Golf Club is around the corner; kids thrive in nearby Klein ISD excellent schools. From the Leaded glass door to the large foyer ''WELCOME HOME'' Is what this home says to you! The roomy kitchen has bisque cabinets! Blinds throughout with faux blinds in the oversized den! Large dining room with a lovely bay window! Recent A/C, range, hot water heater!! Downstairs has no carpet with tile in kitchen and laminate in living areas. A side door at the front of the house makes access easy! Large oversized lot with lots of trees!

Step through the leaded glass door and come home! Large Den at 7611 Post Bridge Dining Room at 771 Post Bridge

Island Kitchen at 7711 Post Bridge in Spring TX Large Den at 7711 Post Bridge Large back yard at 7711 Post Bridge in Coventry

This beautiful home is located in the community of Coventry. Coventry has their own clubhouse a swimming pool and a playground for the children. Coventry is also within walking distance to Augusta Pines Golf Club. The subdivision is very serene and quiet. COME HOME!!!

Coventry in Spring TX Coventry Club house and pavillion Coventry playground located in Spring TX

This home is located in the acclaimed Klein ISD.The grade school is Metzler Elementary, the Intermediate is Hildebrandt and the High School is Klein Oak.

Click the link to see the slide show video of 7711 Post Bridge!

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If you would like more information about this beautiful Coventry home please contact Marchel Marchel@AgentwithResults.com or by phone at 832-721-8332.

If you would like information about Spring-Tomball TX please visit my websites at www.AgentwithResults.com and at www.ResultsRealtytx.com. The AgentwithResults site is rich in Content about Spring and the surrounding areas of Tomball, The Woodlands and Magnolia.  If you prefer pictures with your content then visit my ResultsRealtyTX site.

Want to find out about new Spring-Tomball TX properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Search for home in The Woodlands Creekside VillageClick the button to the left to search our local MLS.

Subscribe to Results Realty BuzzSubcribe in a reader

Copyright © 2010 Marchel Peterson, All Rights Reserved.*7711 Post Bridge in Coventry, Spring TX!!*

Speechless Sunday - Just Wishing in Spring TX!!

Spring in Spring TX

Typically Valentines Day in Spring TX is the day to prune your crepe myrtles.  Not so this year.  We are looking at having temperatures below freezing the next three days.  We have lived here 14 years and I have NEVER seen a winter like this one.  Where's the Global warming? This is not what we signed up for.  I'm ready for Spring (lol).

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If you are buying or relocating to Spring Texas or Tomball TX and need help from a professional REALTOR®, Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332. 

If you would like information about Spring-Tomball TX please visit my websites at www.AgentwithResults.com and at www.ResultsRealtytx.com. The AgentwithResults site is rich in Content about Spring and the surrounding areas of Tomball, The Woodlands and Magnolia.  If you prefer pictures with your content then visit my ResultsRealtyTX site.

Want to find out about new Spring-Tomball TX properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Search for home in The Woodlands Creekside VillageClick the button to the left to search our local MLS.

Subscribe to Results Realty BuzzSubcribe in a reader

Copyright © 2010 Marchel Peterson, All Rights Reserved.*Speechless Sunday - Just Wishing in Spring TX!!*

Houston Museum of Natural Science - A Spring TX day trip!

Houston Musuem of Natural History post gets the award of merit

 

 

One of the many things that I LOVE about living in Spring TX is the accessibility to all that Houston has to offer. If you are looking for something to do when YUCKY weather arrives visiting our many museums may be the answer.  Recently when our daughter was in town we re-visited the Houston Museum of Natural Science. We had tickets to see Bugs in 3 D at the IMAX but went early so we could also tour the museum.

Spring TX day trip - Houston Museum of Natural Science

We have visited a lot of Natural History museume across the country and have loved them all.  Houston's museum is not just Natural History but also Natural Science.  You won't want to miss the Weiss Energy Exhibit and there's also a wonderful collection of gems.  It is only appropriate that Houston's Science Museum would have a HUGE focus on energy. 

Houston Museum of Natural Science - A Spring TX day trip

I don't have pictures from our Imax experience (Bugs in 3D) but I can tell you it is well worth the investment.  It was a little pricey as the tickets were $11 apiece but we totally enjoyed it.  Bugs in 3D follows the life cycle of a preying mantis and a butterfly from their birth to their encounter in the rain-forests of Southeast Asia, where predator meets its prey.

I was not the only one there with my daughter; I saw lots of children there.  I was probably the only one there with my 28 year old daughter though (lol). Our daughter has always had a HUGE fascination with bugs.  While in college she had a Tarantula (Creepy Carla) and a millipede as pets.

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If you are buying or relocating to Spring Texas or Tomball TX and need help from a professional REALTOR®, Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332. 

If you would like information about Spring-Tomball TX please visit my websites at www.AgentwithResults.com and at www.ResultsRealtytx.com. The AgentwithResults site is rich in Content about Spring and the surrounding areas of Tomball, The Woodlands and Magnolia.  If you prefer pictures with your content then visit my ResultsRealtyTX site.

Want to find out about new Spring-Tomball TX properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Search for home in The Woodlands Creekside VillageClick the button to the left to search our local MLS.

Subscribe to Results Realty BuzzSubcribe in a reader

Copyright © 2010 Marchel Peterson, All Rights Reserved.*Houston Museum of Natural Science - A Spring TX day trip!* Picture taken by Tarina Peterson all rights reserved

Lifeline Screening at Heritage Retirement Community - Tomball TX!!

4 Facts you Need to know about Stroke Prevention

  1. 80% of stroke victims had no apparent warning signs.
  2. Ultrasound screening can help you avoid a stroke.
  3. Stroke is a leading cause of death and permaent disability.
  4. Screening are fast, painless, affordable and convenient.

Lifeline Screening is coming to your neighborhood!

  • Where:  Tomball Heritage Retirement Community
  • Sponsored By: Tomball Regional Medical Center
  • When: Wednesday, February 24th, 2010 from 8:00AM to 4:00PM
  • Pre-registration is required.  Call: 1-800-779-6353

4 test for only $139 - Add an Osteoporosis screening for $10 more.

  1. Stoke/Carotid Artery Screening
  2. Heart Rhtyth Screening (Atrial Fibrillation)
  3. Abdominal Aortic Aneurysm Screening
  4. Peripheral Arterial Screening
  5. Osteoporosis Screening

Please watch the short video. Jackie the director of the Heritage Retirement Community gives some additional information about the screening.

 

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If you are buying or relocating to Spring Texas or Tomball TX and need help from a professional REALTOR®, Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332. 

If you would like information about Spring-Tomball TX please visit my websites at www.AgentwithResults.com and at www.ResultsRealtytx.com. The AgentwithResults site is rich in Content about Spring and the surrounding areas of Tomball, The Woodlands and Magnolia.  If you prefer pictures with your content then visit my ResultsRealtyTX site.

Want to find out about new Spring-Tomball TX properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Search for home in The Woodlands Creekside VillageClick the button to the left to search our local MLS.

Subscribe to Results Realty BuzzSubcribe in a reader

Copyright © 2010 Marchel Peterson, All Rights Reserved.*Lifeline Screening at Heritage Retirement Community - Tomball TX!!*

New RESPA Rules - How they affect Spring-Tomball TX buyers and sellers!!

How new RESPA rules affect Spring-Tomball TX buyers and sellersThis morning I went to a training that Charter Title offered on the new RESPA rules and how they are going to affect our Spring-Tomball buyers and sellers.  Chuck Jacobus SVP of Charter Title and a real estate attorney with law offices in Bellaire was the guest speaker.

RESPA came in to affect in 1973 and to begin with Chuck said the restrictions were difficult to comply with. According to Chuck it is déjà vu 1973. We are going through the adaptation phase of the new RESPA rules and most don't understand them (which includes title companies, lenders etc.).

LONG story short both the seller and the buyer are going to have to be patient while we go through the process.  He felt that the days of having a loan done in 30 days or shorter are gone.  He recommended allowing 60 days for the loan process.  He said some lenders will be able to go through the process in a shorter time and he felt the smaller lenders and banks had a better handle on the changes than the big banks did.

The buyer is going to have to be proactive on their loan.  I have had buyers who started the loan process and then took a 2 week vacation. He said if the buyer goes on vacation you can just about be assured that the loan will not close on time. He also said the buyer is going to have to realize that they cannot switch loans a week before closing.

As of January 1st2010 lenders are required to use a new good faith estimate (GFE). The new HUD 1 form and the GFE must look exactly alike. All charges must show on the HUD.  Chuck was joking and said if you throw a quarter across the closing table it will need to be on the closing statement.

If there are any changed circumstances that will affect the mortgage amount that is on the GFE the lender will have to make changes which will take time. The lender basically has to live with the GFE that they give you when you start the process. However the quoted terms and prices in the GFE are only good for 10 days. The buyer will need to give the go ahead during that 10 day period or the terms may no longer be available. Please note if you don't contact your lender to say go ahead during that 10 day period; the terms can change on the 11th day.

Changed circumstances include:RESPA changes will affect Spring-Tomball TX

  1.  Acts of God, war, disaster or other emergency. For those of us in the Spring-Tomball area this would be something like Hurricane Ike.
  2. Information particular to the borrower or transaction that was relied on in providing the GFE; which may include; information about the credit quality of the borrower (you lost your job), the amount of the loan, the estimated value of the property.
  3.  New information particular to the borrower or transaction that was not relied on in providing the GFE.
  4. Other circumstances that's particular to the borrower or transaction, including boundary disputes, the need for flood insurance or environmental problems.

When there is a "changed circumstance" the loan originator must issue a revised GFE within three business days of receiving the information to establish the changed circumstance.  This goes back to the buyer not going on vacation as then it will be hard for them to deal with the changed circumstance.

All of this came about to keep consumers better informed in response to the predatory lending that happened in the last few years. As always when the government gets involved it can get a bit more complex so both buyers and sellers are going to need to be patient with the process.  More than ever it is going to be important that a buyer go to a reputable lender who can get the loan done.  If you need the phone number of a good lender please give me a call.

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If you are buying or relocating to Spring Texas or Tomball TX and need help from a professional REALTOR®, Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332. 

If you would like information about Spring-Tomball TX please visit my websites at www.AgentwithResults.com and at www.ResultsRealtytx.com. The AgentwithResults site is rich in Content about Spring and the surrounding areas of Tomball, The Woodlands and Magnolia.  If you prefer pictures with your content then visit my ResultsRealtyTX site.

Want to find out about new Spring-Tomball TX properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Search for home in The Woodlands Creekside VillageClick the button to the left to search our local MLS.

Subscribe to Results Realty BuzzSubcribe in a reader

Copyright © 2010 Marchel Peterson, All Rights Reserved. *New RESPA Rules - How they affect Spring-Tomball TX buyers and sellers!!*

Litter in Spring TX, I still don't get it!!!

Litter in Spring TXThis is the second time that I have written a post about litter in Spring TX and I still don't get it .  We had a heavy rain overnight and as I was driving down Hufsmith-Kuykendahl this morning the ditches were full of water.  These are big ditches so when I mean full I mean full.  I was almost overwhelmed looking at the trash that was floating in the ditches.

I just DON'T GET IT.  I love our country and I'm proud to live here.  I can't imagine throwing trash out the window.  Precinct 4 here in Spring TX maintaine our roads using prisoners to clean the roads.  I see them once or twice a month picking up trash but it is NEVER ending process!! 

I don't know what the answer is.  I know there are suppose to be fines for littering but I don't think it is something that is enforced.  Maybe a little more enforcement needs to happen.  What do you think?

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If you are buying or relocating to Spring Texas and need help from a professional REALTOR®, Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332. 

If you would like information about Spring TX please visit my websites at www.AgentwithResults.com and at www.ResultsRealtytx.com. The AgentwithResults site is rich in Content about Spring and the surrounding areas of Tomball, The Woodlands and Magnolia.  If you prefer pictures with your content then visit my ResultsRealtyTX site.

Want to find out about new Spring TX properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Search for home in The Woodlands Creekside VillageClick the button to the left to search our local MLS.

Subscribe to Results Realty BuzzSubcribe in a reader

Copyright © 2010 Marchel Peterson, All Rights Reserved. *Litter in Spring TX, I still don't get it!!!*

Westwood, Magnolia TX!!

Westwood located in Magnolia TXWestwood, Magnolia TXis located at the intersection of FM 1488 and FM 2978.  If you are looking for a country subdivision that is decently priced but close to amenities then look no farther.  Westwood is a beautiful suddivision with plenty of towering pines and hardwoods. Most of the homes are located on lots that are just less than 1/2 acre at 20,000 square feet.  There are a few lots at 40,000 square feet or beyond but they would be in the minority.

Westwoodis located on both sides of FM 1488.  The two sides of Westwood are caddy corner to each other.  Westwood is south of FM 1488, west of FM 2978 and to the east of Tamina. Westwood is also to the north of FM 1488 and to the east of FM 2978 going east to Westwood North. Westwood is actually closer to The Woodlands than it is to the actual town of Magnolia.  The actual town of Magnolia TX is about 10 miles west on FM 1488.

Westwood has been a subdivision since the late 1970's. You will find homes in Westwood built from as early as 1978 to the present.  This is one of the many subdivisions that were affected by Houston's oil bust of the late 1980's. We moved here in 1996 and I remember driving around in Westwood shortly after that and being amazed at how many lots were still available. That is no longer the case as much of the subdivision has been built out by sWestwood allows travel trailers, RV's and boatsmall custom builders.  If you are looking to build you can still find lots but they are going quick.

One of the beauties of Westwood is the low taxes. There is NO MUD DISTRICT! The subdivision enjoys community water and each home has their own septic. The older homes may have a traditional septic but homes built since 1996 will have aerobic septic.  This makes for a low property tax rate of $2.17 per 100 value. 

Westwood does have a home owners association but the deed restrictions are lighter than most subdivisions. For instance you may keep a travel trailer, boat or RV in your front yard.  Westwood is one of the rare subdivisions that will allow this.  The HOA fees are also quite reasonable at $150 per year. This fee includes two swimming pools; one located on both sides of FM 1488. There is also a community park, tennis courts and a picnic area. This is truly a bargain when you consider that most subdivisions with this kind of amenities have much higher home owner dues.

Westwood has two swimming pools, a park and tennis courts

 

 Home prices in Westwood in the last year have varied from a low of $67,000 (a foreclosure) to a high of $310,000. The average sales price for the year was $193,000.  Square footage ranged from 1400 square feet to 3200 square feet. The average square footage was 2250 square feet.

Westwood is located in the highly acclaimed Magnolia ISD.  The grade school is Ellisor, the intermediate is Bear Branch and the High school is Magnolia High School.

If you are looking for a country subdivision that is a decent drive to Houston or IAH then this may be the place for you.  There's a Signature Kroger on the corner of FM 1488 & FM 2878; along with a Ross, Office Max, Petsmart etc. etc. As an added benefit you can be shopping or eating in The Woodlands within 15 to 20 minutes.

Come home to Westwood, Magnolia TX!

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If you are buying or relocating to Magnolia Texas and need help from a professional REALTOR®,  Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332. 

If you would like information about Spring please visit my websites at AgentwithResults and at Results Realty.  The AgentwithResults site is rich in Content about The Woodlands.  If you prefer pictures with your content then visit my ResultsRealtyTX site.

Want to find out about new Woodlands properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Search for home in The Woodlands Creekside VillageClick the button to the left to search our local MLS.

Subscribe to Results Realty BuzzSubcribe in a reader

Copyright © 2010 Marchel Peterson, All Rights Reserved. *Westwood, Magnolia TX!!*