Results Realty Buzz: Texas

I have been trying to get a decent moon shot for a couple years now.  I guess I never thought of getting the dusk shot until it appeared during a sail boat race at Lake Conroe.

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If you are buying or relocating to Spring Texas or Tomball TXand 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.

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.

Click the button to the left to search our local MLS.

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Copyright © 2010 Marchel Peterson, All Rights Reserved. *Friday Photo - Clouds to sail with at Lake Conroe!!*

 

Gary Maler the Director of the Texas A&M real estate center recently talked to a group of real estate agents in Tomball about the state of our economy. Much of the talk was about the state of our national economy but he also went in to specifics for us here in Texas. Some of the daunting challenges we face.

1. Business uncertainties from Washington policies
2. The great credit contraction
3. Budget cuts for states, cities and school districts.

One of the things that I came away with is that as a state Texas is weathering fairly good. A few years ago I would have told you that we had not been hit as we really did not have a bubble to burst. That is not the case any longer. He explained it about the best that I have heard. Here in Texas we did not experience a home price bubble we experienced a home sales bubble. The majority of our problems stem from the loans that were given since 2003. He explained that prior to that we had 17 homes sold per 1000 houses. During the no income/no assets loans that increased to 30 home sales per 1000 households. As he explained that was unsustainable and it is what we are dealing with now.

He was honest in that it took us sometime to get in this mess and it will take some time to get out of it. He said in all truthfulness this has been going on for a long time going clear back to LBJ’s administration. We have been living beyond our means for a long time. We will have some pain as we reel in from the excesses.

Future home sales are going to be dependent on job growth, mortgage rates/credit terms and home price affordability. Up to this point the American way has been to buy high and hope for higher. That said he said that NOW is probably the opportunity of a lifetime to a buy a house. Who would have thought we would see interest rates of 4.5% or less. He talked about the interest rates of the 1970’s when 12% was considered a good rate.

In the excerpt below he talks about the characteristics of a recession. The graph that shows the difference in unemployment between those who have a college degree and those who do not is an eye opener. As he said if there was ever an advertisement to get a degree this is it. If you have a son or daughter who is deciding whether they want to go to college this is a clip you might want to show them.

In his closing thoughts he said we will get through this. The other thing we have going here in Texas is a huge influx of people moving to our state. There are many places in our state where the market has stayed relatively flat and in my mind with this economy; flat is good.

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If you are buying or relocating to Spring Texas or Tomball TXand 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.

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.

Click the button to the left to search our local MLS.

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Copyright © 2010 Marchel Peterson, All Rights Reserved. *Characteristics of a Recession - Texas specific!!*

In Texas we have a "termination option" clause in our real estate contract that you will want to understand.  This clause allows buyers and sellers to negotiate a specified time during which the buyer can fully evaluate the house. For this right, they buyer pays the seller a nonrefundable "option fee". Your option period is typically that period of time where you do your home inspections however you can back out for any reason during this option period. 

Everything is negotiable but usually you will have put $100 (plus or minus) down for a 5 to 10 day option period. (These are not business days so time is of the essence.) This option period gives you the time to do your home inspections however  as I said you can opt out for any reason during this period and you will only lose your option fee; your earnest money will be refunded. Typically a seller will allow you 10 days but that time can vary.

This option period starts once you have finished negotiations and all parties have signed the contract; you now have a fully executed contract. Prior to this it was called an offer but you are now under a legally binding contract.  The option period starts counting the day after the contract is fully executed by all parties.

Foreclosures typically don not ask for an option fee but give you 5 to 10 days to inspect the property.  For foreclosures only this is often written in special provisions and it is usually addressed in the foreclosure addendum's.  I have found that many foreclosures only allow 5 to 7 days. These are not business days; time is of the essence and strict compliance with the time for performance is required.  I know that does not sound like many days but inspector's are use to being on this short notice and I have never had a problem with getting inspections done during that period.

If the inspections uncover more than you bargained for this is the time to back out.  Actually you can back out for any reason during this option period and the only money you will lose is the money you put down for the option and the cost of your inspections. The earnest money will be returned to you in full as long as you provide the owner a  termination letter in the agreed upon days. Again time is of the essence!

I have heard from clients that there are states where the only ramification of backing out at any time during the process  is losing your earnest money but that is not the case in Texas.   In Texas you will usually  lose your earnest money and you also may be sued for specific performance.  In my experience most seller's will just move on but they do have the option of suing.  Long story short the time to back out if you are so inclined is during the option period.

I have lived in four states and each state has handled the home inspection process in a different manner. Personally I like this process the best of those I have come across.

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If you are buying or relocating to Spring Texas or Tomball TXand 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.

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.

Click the button to the left to search our local MLS.

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Copyright © 2010 Marchel Peterson, All Rights Reserved. *The Texas "termination option" clause!!*

 

This picture was taken a few weeks ago at one of Lake Conroe Sailing Association's Thursday night races.  My husband crews and I help on the committee boat.  We never know what the weather is going to be like and it can change in the flick of an eye.  We ended the race early because of those weird clouds you see (I did not photo-shop this picture).  As it turned out this time the clouds turned to nothing but you do have to be careful when you are on the water.

One of the many things we love about Spring is the accessiblity to Lake Conroe.  You don't have to live on the lake to sail on the lake.

________________________________________________________________________________________________

If you are buying or relocating to Spring Texas or Tomball TXand 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.

Click the button to the left to search our local MLS.

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Copyright © 2010 Marchel Peterson, All Rights Reserved. *Friday Foto- Storms A-Brewin at Lake Conroe!!!*

Please join us for the 3rd Annual Spring-Klein Chamber Christmas in July Gala and Live Auction at Savannah's at the Augusta Pines Club House.  This years event will take place on Saturday July 31st.  It will have all the ambiance and feeling of Christmas along with dinner, dancing holiday décor, live music and a live auction.  The festivities will start at 6:30 and go until 10:00. 

From 6:30 to 7:00 there will be a cash bar and Jennifer Grassman will be singing some Christmas songs.

After our Christmas in July Christmas dinner we are thrilled to have Congressman Ted Poe as our guest speaker. He will be sharing some of his experiences from when he was a judge and he will also be talking with us about issues that affect our border.

A live auction isn't your normal Christmas theme but it is for the Spring Klein Chamber Christmas in July.  The live auction will feature a number of items from sports memorabilia, Gift Certificates (photography, restaurants), home décor etc. etc. etc.  Shawn Mazyn with Cheray Auctioneers, License # 16626is volunteering her time in support of the chamber.  If you have something you would like to donate please contact Marchel Peterson the banquet chair via email at marchel@agentwithresults.com or phone Marchel Peterson at 832-721-8332.

After the live auction we will be having a disc jockey who will be providing us with music to dance by.  This will also be the time to pay for your auction items.

Tickets are on sale now.  The prices are $55 for non-members and $50 for members.  The Spring-Klein Chamber is soliciting donations for door prizes and auction items as well as underwriters and advertisers for the event program.  Click here to go to the form you need to order your tickets. 

"The Spring Klein Chamber of Commerce (SKCC) is a premier business and community support organization dedicated to bringing the primary resource for area economic development, business expansion and overall quality of life in Spring-Klein http://www.springkleinchamber.org/".  I have been involved with the Spring Klein Chamber since their inception two years ago in May. I just finished my term on the Spring Klein board of directors and it was an honor to serve my community.

The Chamber has had a successful couple of years. This event will help them to raise funds to continue to grow and support their community.  This is a grass roots effort and all help from the community is appreciated.

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If you are buying or relocating to Spring Texas or Tomball TXand 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.

Click the button to the left to search our local MLS.

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Copyright © 2010 Marchel Peterson, All Rights Reserved. *Christmas in July with the Spring-Klein Chamber of Commerce; at Augusta Pines Golf Club!!!*

 

The crepe myrtles in Spring TX have been absolutely BEAUTIFUL this summer!  (Maybe they like a hard winter.) I tried getting the vibrant colors while the sun was out but I found a dusk picture brought the colors out.  We are enjoying the color in our back yard.

________________________________________________________________________________________________

If you are buying or relocating to Spring Texas or Tomball TXand 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.

Click the button to the left to search our local MLS.

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Copyright © 2010 Marchel Peterson, All Rights Reserved. *Crepe Myrtles in Spring TX!!*

 

One of the many things that I love about living in Spring TX is the easy access to Lake Conroe. We are members of Lake Conroe Sailing Association and these pictures are from their recent Spinnaker Run. It was a busy day at the lake.  If you look to the very top you will see a row of helicopters (they almost look like bugs in the sky). Below that was a plane that was taking pictures of the sailboats flying their spinnakers.  Then of course below that are the sail boats with their spinnakers.

It was a windy day at the lake the day of the Spinnaker Run so the spinnakers were only up for a short time. 

If you would like more information about joining Lake Conroe Sailing Association visit the Lake Conroe Sailing Association's website.  Membership is a deal at $35 a year. You don't have to own a sailboat to join. Every Thursday evening (weather permitting) we have a sailboat race starting at the lighthouse. Come join us (like I said you don't have to own a sailboat); someone is always looking for crew.

________________________________________________________________________________________________

If you are buying or relocating to Spring Texas or Tomball TXand 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.

Click the button to the left to search our local MLS.

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Copyright © 2010 Marchel Peterson, All Rights Reserved. *Lake Conroe Sailing Association's Spinnaker Run!!*

The Cassowary is a very large flightless bird; native to New Guinea. Cassowaries are very shy, but when disturbed, they are capable of inflicting serious injuries to dogs and children.  The 2007 edition of the Guiness World Record list them as the most dangerous bird in the world. In other words give them a wide berth. Our daughter took the picture on a recent trip to the Houston Zoo.  I'm not sure how she got the picture without the fence in front but I guarantee you there was a fence.

Houston has a wonderful zoo.  It makes a great day trip if you have never visited it!

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If you are buying or relocating to Spring Texas or Tomball TXand 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.

Click the button to the left to search our local MLS.

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Copyright © 2010 Marchel Peterson, All Rights Reserved. *Speechless Sunday - Cassowary at the Houston Zoo!! *  Picture taken by Tarina Peterson all rights reserved

One of the many things that I love about Tomball TX are the trees. It has amazed me at the imaginative ways the trees have been preserved. 

For instance if you notice the picture with the two large trees and the picnic tables.  This is in the Wal-mart parking lot.  This park is not built to the side of the parking lot it is in the middle of the parking lot.  There is parking on either side and you can drive in front also. 

If you also notice the tree with the building built around it.  That is the local Wood Forest Bank in Tomball.  They built their bank around this tree. I am in Tomball Business and Professional Women and when I was on the board we would have our board meeting in their Conference Room.  The Conference Room looks out at this tree.

The cougar tree was a casualty from Hurricane Ike.   I wrote an entire post around the Cougar tree if you would like more information. The artist who carved the tree is Master Wood Carver Nathan Smith, a local Tomball artist.  He carved two cougars in a rocky cliff setting out of this fallen oak tree.  Yes, the cougars are in recognition of The Tomball Cougars.

The local Tomball ball park was also built around a tree.  The tree of course provides a lot of shade to stand under and watch the game. 

You can also see how the utility company preserves the trees by cutting the branches around the line instead of chopping the tree down. 

Please realize this is just normal people doing this.  There are not any town restrictions that say you must keep your trees.  These pictures were all taken in the City Limits of Tomball.  Tomball the hometown with a heart was going green before it was popular to go green.

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If you are buying or relocating to Spring Texas or Tomball TXand 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.

Click the button to the left to search our local MLS.

Subcribe in a reader

Copyright © 2010 Marchel Peterson, All Rights Reserved. *Preserving Trees in Tomball TX!!!!*