Does Moving up make sense in our Current Real Estate Market?

 

Does moving up make sense in our current Houston real estate market?

Yes! If you are thinking that you have grown out of your current Houston home and you plan to move up in the next 2 or 3 years but are waiting to sell until the market improves – You need to – Think AGAIN!

The percentage in gain you may get from your current lower priced home in the next few years will be outpaced by any gain you will enjoy in your new higher priced home. If the market only increase 3-4% in the next year or two and your current home is worth $250,000 you will earn much less than if you buy that new home you want for $300,000. 4% of $250k is $10,000. 4% of $350K $14,000.

Right now is the time to find good deals in the Houston real estate market and while you might be thinking you need to wait for prices to come back before you sell don’t forget the house you want to move up to is also going to be higher in price.

For first time home buyers and those looking to move up now is the time to take advantage of a great market.

For more information about buying or selling your Houston home contact

Connie Vallone – Broker Associate First Market Realty    713 249 4177 or connie@knowsrealestate.com

http://members.har.com/Realtor-Agent-Rating/process/dispagentrating.cfm?member_number=579645  or http://www.houstonenergycorridorhomes.com

Why take a risk when you move out of your home?

Over the years I have worked with several clients that decided to buy a new home and then lease out the home they currently live in or they leave their home vacant while it sells.  Many times those folks will tell me that they are not going to notify their insurance agent of these events because it may or will cause the homeowners insurance to increase.   BAD IDEA !  The article below was written by my good friend and personal insurance agent Rhonda Runge with Serna Insurance.  With her permission I am republishing this article.

If you rent out your current home or vacate it for a long period of time, would your homeowner policy still cover you in the event of a loss?

 The answer would most likely be a resounding NO!  As a homeowner living in your property, the insurance carrier typically would determine that you would have less risk.  Why?  It is because you or some other family member is constantly going in and out of the home.  Thieves are less likely to bother a home where there is a lot of activity.  Also, just be being in your place of residence, you are more likely to fix things more quickly such as water leaks, fires, etc which would reduce the cost of a possible claim.

 

When your property is occupied by renters (someone who is paying you money to live there), there is less risk for suspicious activity such as theft because there are people coming in and out of the dwelling. However, a renter may not be as quick to notify you of a leaky pipe or other issue that could result in a large claim.  Thus the carriers build in this additional type of risk into what is called a “rental dwelling policy”.

 If you move out of your home and leave it vacant for more than 30 to 60 days, a carrier can consider the property to be “vacant” and you would need to have a “vacant dwelling policy”.  This is because the home has a higher risk of being vandalized and/or having critical maintenance items that may not be addressed in a timely manner resulting in a larger claim amount due to no one being aware. 

 Recently, there were two claims situations where the homeowners neglected to inform their agent and/or carrier of a change in residence status for the property.  (One where the home was converted to rental property and the other where the buyer never moved in to the property at all).  In both cases, a fire was the culprit completely destroying the property.  When the “homeowners” went to file a claim, both claims were denied based on improper disclosure of occupancy.  

 Remember that individual policy and carrier guidelines do vary so it is always important to discuss any changes like this with your agent and/or carrier prior to making them.  Unfortunately, you do not want to find out after the fact that you may not be covered.

 Rhonda Runge – Serna Insurance 713 515 8928  or rhonda@sernainsurance.com     http://rhondainsuresme.com/

For more information on leasing or selling your home call Connie Vallone at 713 249 4177 or connie@knowsrealestate.com

www.vallonehomes.com  www.houstonenergycorridorhomes.com  

New Listing! 13815 Menasco Court – MLS# 47267974

Updated beauty in desirable Energy Corridor within walking distance of Terry Hershey Park and bike trails! Great open floor plan with huge island kitchen open to living and dining rooms with gorgeous golden oak paneling, soaring ceilings and wet bar. Light and bright! Every room features big picture windows and/or French doors leading to your own private oasis with covered patio and lush mature landscaping! Game room upstairs. Two large walk in closets in Master Retreat! Premium location on cul-de-sac street. Recent carpet, new fixtures, new ceramic cooktop, designer paint colors throughout and new exterior paint. AC has new compressor!

If you are interested in buying or selling real estate in West Houston please contact Connie Vallone First Market Realty 713 249 4177  or visit

www.houstonenergycorridorhomes.com  or www.vallonehomes.com

Seminar for Home Sellers in Houston

Looking into selling your home ?       

Find out how to prepare for the successful sales of your home in today’s competitive market.  If you’re a seasoned seller or first time seller come to this informative seminar created specifically for home sellers.

Topics include: 

 

 

 

   

Marketing and advertising –

How does today’s buyer shop for a home.

• Pricing strategies –

Pricing your home to sell fast for top dollar.

• Understanding contract terms.

• Property Inspections –

What to expect.

• Appraisals –

How will the buyer’s mortgage company determine the value of your home?

• Mortgage and credit in today’s market –

How does this affect your sale?

• Home Insurance –

How past claims may affect your sale.

• Staging –

What is it and why does it work?

• Home improvement and repairs

What is important?

• Home Warranties –

Why they are important.

• Completing the seller’s disclosure.

Monday March 14h, 2011 5:30 PM  – Houston Pubic Library Kendall Neighborhood Branch -2nd floor conference room

Seminar is Free but Registration is Required.  Go to http://www.houstonenergycorridorhomes.com/contact.php 

or email Connie@knowsrealestate.com 

 

 

free

 

 

 

 

2011 Cost Vs Value Home Report

The 2011 Cost Vs Value report is now available.   The report is published  by the National Association of Realtors  in cooperation with Remodeling Magazine.  

The report includes detailed city reports and list the Top 5 projects that will bring homeowners the most return on investment.  

If you are thinking of selling your home this Spring or Summer contact Connie Vallone – First Market Realty 713 249 4177 or visit www.HoustonEnergyCorridorHomes.com  to get a free market snapshot report for your home. 

Related Articles

• Owners Recoup More with Exterior Home Projects (pinkbananaworld.com)

West Houston Home Values – Find out what your home is worth!

Find out what your West Houston home

Find out what your home is worth Baby

could sell for based on homes on the market plus recent sales on or near your street!

www.HoustonEnergyCorridorHomes.com

and click on

Get Your Homes Value

to see a personalized Houston real estate report.

A Thought on Staging Your Home

Staging Before and After

Builders - let’s face it they are not known for throwing around extra money.  Most builders are not going to just do “something extra” for the heck of it – right ?  But most all of them stage their models – the reason it sells houses!   

Connie Vallone, Broker Associate – First Market Realty in West Houston

713 249 4177 or connie@knowsrealestate.com 

www.vallonehomes.com  or www.houstonenergycorridorhomes.com

Some Real Estate Agents are scary!

A friend of mine called me today and wanted advice on how a friend of theirs should deal with their agent.

Their agent does not return their calls and gives them no feedback at all.  She has their home “listed”. I put that in quotes because it’s on our Houston MLS but in our conversation on the phone I found out this agent never even got a listing agreement signed!   OK never mind the legal issues here. 

Really? !  I don’t understand why people will give such an important transaction such as listing their home for sale to an agent that is not smart enough to even get a written agreement?  Because it’s Aunt Sue’s niece? ! Really ?

So now they are confused why the agent is having a hard time negociating the offer they have. 

Call a real estate professional!

Connie Vallone – Broker Associate First Market Realty  connie@knowsrealestate.com or 713 249 4177

 www.vallonehomes.com  or www.houstonenergycorridorhomes.com

Top 11 Reasons a Seller Should List During the Holidays!

Happy Holidays

Top 11 Reasons a Seller Should List During the Holidays! 

1.   People who look for homes during the Holidays are more serious buyers!

2.   Serious buyers have fewer houses to choose from during the Holidays   and less competition means more money for you!

3.   Since the supply of listings will dramatically increase in January, there will be less demand for your home!  Less demand means less money for you!

4.   Houses show better during the Holidays!

5.   Buyers are more emotional during the Holidays, so they are more likely to pay your   price!

6.   Buyers have more time to look for a home during the holidays than they do  during a   working week!

7.   Some people must buy before the end of the year for tax reasons.

8.    January is traditionally the month for employees to begin new jobs.  Since transferees cannot wait until spring to buy, you need to be on the market during the Holidays to capture that market!

9.   Even though your house will be on the market, you still have the option to restrict showings during the six or seven days around the Holidays!

10. You can sell now for more money and we will provide for a delayed closing   or extended occupancy until early next year!  – Secure the sale for a buyer not ready to close until early next year.

11. By selling now, you may have an opportunity to be a non- contingent buyer  the spring, when many more houses are on the market for less money! This will allow you to sell high and buy low!

If you are thinking of selling real estate in Houston please call me!  I would love to share with you all the things I do the sell my listings FAST and for TOP $$$! 

Connie Vallone 713 249 4177  or connie@knowsrealestate.com

Related Articles

• Some Home Selling Tips for 2011 (dougfrancis.com)

Home Sellers Workshop in West Houston

Looking into selling your Houston home?

Looking into selling your home? Home Sellers Workshop.  Learn how to prepare your home for sale, what to expect during the home selling process and how to avoid costly mistakes.  Topics include marketing and advertising,pricing strategies, understanding contract terms, property inspections, your homes appraisal, staging and home improvements that pay off the closing table, home warranties and completing the sellers disclosure.  

This seminar is packed with useful information every home seller should know before putting their home on the market.  The Workshop is free but registration is required there is limited seating.

Houston Public Library – Kendall Branch -609 N. Eldridge Parkway, 77077. Friday, Dec.10th at 10:30AM – 12:00 PM.

 For reservations, go to www.houstonenergycorridorhomes.com or email connie@knowsrealestate.com.   

Connie Vallone is a liscesed Real Estate Broker with First Market Realty

Related Articles

• Home Seller and Buyer Liability for a Home Inspection (brighthub.com)
• Selling a home on your own: 5 things to consider (moneyville.ca)
• Ups and Downs of Homes for Sale by Owners (flipping-real-estate.suite101.com)
• So, You Have An Accepted Offer… All Is Good, Right? (lanebailey.com)

Offer and Contract Terms – After price what’s important?

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Offer and Contract Terms – After the price what’s important?  

This is first in a series of blogs I will be writing over the next few weeks to explain contract terms and what they mean to both buyers and sellers.   I find in many transactions whether I am representing a buyer or seller there is always an all consuming fixation on the price.  And yes the price is very important.   

With good reason it is probably in most cases the most important contract term there is.  BUT there are several other very important factors that can affect your sale and/ or your cost to close so my goal over the next few blog posts will be to address each of these important terms.   

First let us begin with the basics.  The actual offer and the contract.  I find many people do not know that an offer is presented in the form of a contract or more specifically it is presented ON the actual contract form.  An offer does not become a contract until after all parties agree and sign off on all the terms of the offer.   After both buyer and seller have agreed and initialed or signed each page of the offer accepting all terms it is only then that the contract is executed and the offer becomes a contract.      

So it is important from the beginning when you as a buyer are making an offer or you as a seller are receiving an offer that after considering the price you then review the rest of all the contract terms.  And that you understand that the entire offer terms are being negotiated not just the price.    

Over the next several posts I plan to address each of the most important contract terms.   If you have any questions or just can’t wait for my next post please feel free to contact me directly at 713 249 4177 or email connie@knowsrealestate.com I will be happy to address your specific questions.  

You may also visit www.vallonehomes.com or www.houstonenergycorridorhomes.com   

Connie Vallone – Broker Associate First Market Realty 

Related Articles

• Seven must-have real estate contract conditions (theglobeandmail.com)
• Can you have a “contingent” offer without a bump clause? (raincityguide.com)
• What is a Purchase Agreement? (brainz.org)

Are your neighbors nosey?

Are your neighbors nosey?

Yes your neighbors are probably nosey!

 You put  your home on the market  for sale and  people that have never knocked on your door in all the years you have lived there suddenly have a great deal of interest in what your home looks like and how much you are selling it for.   

Every day you walk to the little flyer box in your front yard and all the flyers are gone!   How can it be that at 8 AM in the morning the flyers are all gone when you filled it last night at 6 PM?  You guessed right your neighbors are taking them.

 They might be nosey but they also live in your neighborhood and they probably like living there and they have FRIENDS and FAMILY.   So let your neighbors take the flyers and then go one step further! 

 Host an open house and invite them all to come and bring friends!!!  Send each and every one of them a personal invitation to come.  Give them permission to be nosey and come see your home.  Now they can come over and check out your home ask questions and then go back and report to their friends and family how great your house is!!  People like to have family and friends live near them so they will help you sell your house by encouraging their family and friends to come see your home. 

When I list a home for sale I send each neighbor a personal hand written note announcing the new listing in their neighborhood and I invite them to call me with questions.  I also host an open house and create flyers that I put on each and every front door inviting the neighbors to come and to bring everyone they know.   Your neighbors know a lot of people and some of those people will be excited to find a home near their favorite people.

 If you would like help or need more great ideas to help you market your home for sale call or email.  Connie Vallone 713 249 4177  connie@knowsrealestate.com  Broker Associate of First Market Realty in West Houston.   You may also visit www.houstonenergycorridorhomes.com  or www.vallonehomes.com

Is my Real Estate Agent Lazy? My agent never shows my home!

So you hired a real estate agent to list and sell your home.  You agreed to pay the commission ; which is no small sum!  So now why is every other real estate  agent in town showing your home more often than the agent your paying big bucks to?  Did you hire a lazy agent ? Can you get out of this contract?  Maybe you should hire one of those showing agents instead?   Your getting plenty of showings on your home, lots of traffic people are coming everyday but your agent has only showed it once!   The answer is no your agent is not lazy and now you did not make a mistake in hiring the wrong real estate agent.  

The key is are you getting enough showings?  Is the traffic good? You see a good listing agent one should be spending their time and money on marketing your property to as many people and other real estate agents as possible.  Including all the hundreds of agents that do not work for the same real estate brokerage company as your real estate agent.    A good listing agent is an expert at presenting your property in it’s very best light and making sure that every agent that has buyers looking in your neighborhoods knows your home is for sale.  A good agent is hiring professionals to photograph your property and promoting your property in every real estate website and publication and every other place where people are searching for homes.  They are creating a special website for your home, holding open houses, sending out announcements via email and snail mail, calling and emailing every agent they know that have buyers looking in your neighborhood and many more marketing activities.  

When you are interviewing real estate agents to sell your home ask them what will they be doing to market and sell your home?  Ask them how much of their business includes working with listings versus buyers because you need an agent that works with sellers on a consistent and regular basis and knows how to market your home.  YOu need a professional listing agent that brings traffic into your home. 

If you would like to discuss selling your West Houston  home please call Connie Vallone  713 249 4177 or connie@knowsrealestate.com   or http://www.vallonehomes.com

Who’s the best person to show your home?

You know your home better than anyone else.  Right?  You know exactly why it’s the best house in the neighborhood and you know exactly everything that has been upgraded or improved.   So who better to show your home to potential buyers? 

You also know too much!  You are emotional attached to your home and so you are not objective. 

But more importantly it’s intimidating for buyers to be in the presence of sellers.  They are in your home they are invading your space and they know this but when you are there it makes them feel even more uneasy.  Buyers want  and need to be able to openly discuss everything they like or dislike about your home with their agent or spouse. When you are present they will not feel free to have these open conversations.

       They will think that if you hear them say something good you will know too much and it will hurt them during the negotiations.   So they won’t say anything good at all –too bad.  What if you have a husband and wife and each of them is afraid to tell the other how much they love your home.  They are not allowed to discuss the details they each love so much about your home.  They are not going to able to get excited talking about your home  because they are afraid you will hear them.  They will not be able to get really emotionally excited about your home.

What about what they don’t like?  Well they can’t talk about that either. So now they can’t help each other rationalize why even though the game room is upstairs and they really only wanted a one story this house is perfect in all other ways so they could live with the game room upstairs.  They cannot discuss this and decide they can live with this one thing because you are there listening and they don’t want to hurt your feelings. 

So no you are not the best person to show your home.   When you have a showing on your home leave and let your agent or the buyer’s agent show your home.  Let the buyers feel at home and feel free to become comfortable in their new home so you can move on to your new home!

If you are thinking of selling your West Houston Memorial home and want more advice call Houston Real Estate Agent Connie Vallone, First Market Realty Broker Associate at 713 249 4177 or connie@knowsrealestate.com    Website www.houstonenerycorridorhomes.com or www.vallonehomes.com

Should you have your home inspected before putting it your home for sale?

Should you have your home inspected before putting it on the market for sale.  Of course you know the buyers will have your home inspected before they close. 

Are you aware that most buyers will want 7 – 10 days to inspect your home before they will finalize the contract.  It’s called an option period and you will be VERY lucky if you get an offer that does not include an option period.  So after you have negotiated your price and think you are settled and ready to close the buyers are going to order an independent property inspector.  When you purchase a home in Texas  the inspector will be licensed by the Texas Real Estate Commission and will be following a list of specific check items. 

Now what do you think happens when the buyers get this 25 page report on your home?  Right they want you to fix things or give consideration in lieu of those repair items.  So wouldn’t it be better if you found out before you negotiated your price what the inspector will find.  You can then provide the report to your potential purchasers during the negotiations and address right up front what you are willing to repair or compensate for.  You may also decide to repair certain items so that you can present to the buyers your list of repairs thus proving the home is in good condition and worth your asking price.

Even if you are not planning to sell your home for a  year or two why not order an inspection now and start working on a few repair items?   Call a local real estate agent they can give you a list of good inspectors and may also give you advice on what items on the report will be important to repair as you make preparations to sell your home.

If you are thinking of selling your West Houston home call Connie Vallone Houston Real Estate agent serving West Houston, Memorial and the Energy Corridor 713 249 4177 or connie@knowsrealestate.com   You may also visit my website for a list of vendors at http://www.houstonenergycorridorhomes.com

Lights on or off? Is now the time to save money on your electric bill?

Lights on or off?  Is now the time to save money on your electric bill?

Do you want to save maybe a couple of hundred dollars maybe less on your electric bill? Or do you want to sell your home?

 I have never had a prospective buyer tell me they want to purchase a dark house.  However, many homes are eliminated because they are too dark.  

Your home is listed for sale and you have spent a lot of time and some money to get it ready and now you’re worried about a few extra dollars on your light bill?

 Don’t assume that the real estate agents that are bringing buyers are going to walk through your house turning on lights and opening blinds.   For one thing there is usually not enough time for the agent to do all that because the buyer’s first impression is made the minute the they walk into your home.  They may or may not be following their agent around the home but they certainly are not waiting by the front door until the agent is finished getting the house ready to show.

 So make a good first impression and when you leave each day remember lights on and blinds open you’re never know when you will have a last minute appointment to show.  Make sure your potential buyers will see your house in its best light.

See more home selling tips from Connie Vallone – Broker Associate with First Market Realty serving real estate home buyers and home sellers in West Houston at http://www.houstonenergycorridorhomes.com

Connie Vallone 713 249 4177 or connie@knowsrealestate.com

Professional Photo’s are critical in selling your home

Think about it!  How do most buyers shop for their next home?   They start on the internet.   Most every   buyer today starts by going online and searching for homes.  They put in a few criteria like location, number of bedrooms, price range and then up come all the homes that fit their criteria.  The first thing they do is click on the photos if they like what they see then they start reading the details.  If your home listing does not have good photos it is very likely they will just click on to the next one.   It’s like an online dating service most people look at the photo first to see if they like what they see and then they go read the details and decide if they want to make contact.   When buyers are searching through the hundreds of homes available for sale they look first to see if it is something that appeals visually to them and then they look at the details to see if it will fit their needs.   If you want to sell your home – the first step is getting them in the door!   When you hire and Real Estate Professional to sell your home make sure they are going to invest the money to hire a Professional photographer that specializes in home photography.   Don’t let your home be the one on the internet with the toilet sit up!     Connie Vallone  - connie@knowsrealestate.com or 713 249 4177.

Selling you home is a competition! Prepare for it!

 

 VV76NWUJQS7E Selling your home is a competition!  Your house is competing against other homes for the top position to be sold.  Your house needs to be in tip top shape if you want to be in the running to sell your home fast. When you finally make the decision to put your house up for sale it is important to get it properly prepared before the first buyer ever steps foot in the door. It’s better to wait a week longer to put in on the market than to rush and put it up before it is ready.   The first month on the market is your honeymoon period.   It is when all the buyers that have been looking but cannot find what they want are going to come – these are usually your most serious buyers so put your best foot forward for them.

We are now in the midst of a strong real estate buyers market. There is a large inventory of homes available and buyers have become very selective in their choices. A properly staged home can help give your home the edge in a strong buyers market. Buyers do not want to negotiate for a carpet or painting allowance they want something that is “move in” ready.  They don’t need to buy your house and do a lot of work and updates when they can buy the one down the street and move in.   

“Home staging” is not a new term, but for many homeowners and real estate agents the concept of “professional home staging” is shedding new light on how to promote a home in the real estate marketplace.  In past years, homeowners were left to their own discretion as far as preparing for home showings. Though they could occasionally rely on an agent for instructions, more often than not real estate agents were just as perplexed at working out the details as the homeowner.

While agents are experts in the field of selling and closing, many are not design savvy.  Agents usually know exactly what factors can help sell a home. It’s just not always easy to get a home into selling condition in a timely manner without some sort of experienced assistance.   This a good article from the Atlanta BizJournal http://atlanta.bizjournals.com/atlanta/stories/2005/10/31/focus9.html  

Consider paying for the services of a professional stager.  Ask your real estate agent for a referral for a good stager –  any good real estate professional will have one on their team. 

Connie Vallone  Broker Associate,   First Market Realty Houston Texas 713 249 4177

http://www.houstonenergycorridorhomes.com

http://www.vallonehomes.com

Home Warranty Avoiding Lawsuits

 VV76NWUJQS7E Anyone can sue anyone, even when it is not fair. 

When you sell your home the buyer expects major household appliances to work even if they are not buying a new home.  So if the home is sold during the heat of summer, next winter when the thermostat is switched over to heat and nothing comes out of the vent but cold air……you can imagine the reaction.      It is the seller’s fault. Or the agent’s fault.  Or somebody’s fault.   Even if the buyer had inspections!

So the buyer tracks down the seller   ”The heater is broken and the buyer is demanding you replace it,” says the agent.

Of course, the heater worked perfectly well last winter, so the you the  seller replies that it will be a cold day in… (well, in the house) before you pay for something that isn’t your problem any more.

This is where it gets fun!   The buyer has a brother-in-law who is an attorney and now lawyers are involved.  Obviously, the heater didn’t work last year and the seller did not disclose it

This actually happens!

Since it costs money to defend against lawsuits you as the seller will probably end up buying a new dishwasher or what ever !

All of this can be easily avoided through the purchase of a Homeowners Warranty or Home Protection Plan, which is basically a different kind of insurance.

If the electricity, plumbing, heating, air conditioning, water heater or major appliances break down, the insurance company fixes it. No muss, no fuss, no lawyers, no wasted time on repetitive phone calls filled with mutual distrust, flaring tempers and bruised egos.

The cost?

For houses under 5000 square feet (which covers most houses) the cost is usually less than $350.

Sellers should price this insurance into their cost expectations when pricing their home. It is not much to pay for peace of mind and the knowledge that when your house is sold, you really will be done with it. Even when the buyer doesn’t ask for the warranty, sellers should provide it.

The key ingredient in all this is that the seller must warrant that everything is in good working order when the house is sold. So if the buyers insist on a Home Warranty and the seller refuses…

…the buyer is going to wonder, “What’s broken?”

Why you should invest money in staging your home for sale.

Why should you spend the extra money to stage your home before you list your home for sale?   Builders do it because they know staging homes is sells homes.   When was the last time you toured a new home subdivision and did not see the model home staged to perfection?  If you have not toured a new home subdivisions lately get in the car and go see a few!  Even in this market with new home housing starts at all time lows and builders cutting expenses and tighten their belts you will be hard pressed to find a new model home that is not professionally staged.   The model home in a subdivision is usually the model that the builder sells out of first.  When they sell as many they can of the staged model home they change and build a new model home to stage because they know the staged plan will sell.  Builders are not known for spending extra unnecessary dollars but they know – Staging sells houses!   It is proven that a professionally staged home sells faster and for more money!    Call Connie Vallone in for West Houston Real Estate sales advice at 713 249 4177.  connie@knowsrealestate.com