Giraffe Realty Ramblings

Wow! Sales of Homes Nearly Quadrupled in Bridgeland

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Sat, 17 Dec 2011 18:59:14 -0800

If you are thinking about moving to Bridgeland, you aren’t the only one. Sales of homes in Bridgeland nearly quadrupled from this same month last year. Bridgeland in Cypress, Texas is booming! Bridgeland was voted the #1 Master Planned Community by the National Association of Home Builders. Come see why!

**Click on table to view larger

Please note that the data was gathered from the Houston Association of Realtors (HAR) Multiple Listing Service (MLS). Not all home sales are reported to HAR. New Home sales are typically not reported. If a home buyer bought a lot directly through the builder, this sale is not reported to HAR. Many more homes are sold in Bridgeland each month than is reported to HAR.

In comparison to last year, 15 homes were sold this month over the 4 homes that sold this same month last year. None of the homes that sold this month were distressed sales. None of the home sales were foreclosures or short sales. That is awesome news for Bridgeland residents.

Right now, several of the builders are offering huge incentives to buyers. Please contact Giraffe Realty if you are thinking of buying or selling a home in Bridgeland. Remember, when you walk into those model home parks without a realtor, you have no representation. The Builder’s Representative works for the builder, not you. Read here. I live here, and I know this master planned community well.

Giraffe Realty Sells Homes in Bridgeland Cypress Texas

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Fri, 07 Oct 2011 15:44:48 -0700

Bridgeland is Texas #1 Master Planned Community. Bridgeland is located just 20 miles Northwest of Houston in Cypress. There are homes for sale in Bridgeland to fit everyone’s taste and budget. Bridgeland offers waterfront lots as well as homes with pools. Homeowners can choose from a range of styles from the $180’s on up to the high $700’s.

Why choose Bridgeland?

Residents here enjoy all the world class amenities that Bridgeland has to offer. Residents enjoy making full use of the resort style pool, the splash pad, the tennis courts, and the miles and miles of trails that meander through the community.

Bridgeland is located within the Cypress Fairbanks Independent School District. Our students attend some of the best schools in Texas. There are plans in the near future to build schools within the community.

What is the real estate market like in Bridgeland?

Glad you asked. Each month, Giraffe Realty prepares a real estate market report for Bridgeland. You can see how many homes sold in Bridgeland in each price range. You can also see the average price per square foot of the sold homes in Bridgeland. We have also included the average days it took a home to sell within that price range.

Please look at table below. Click on it to view larger.

If you or anyone you know is looking to buy or sell a home in Bridgeland or any other community in Cypress, please contact Giraffe Realty. We would love to assist you in your next move.

Bridgeland is Building its First Village Center

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Sun, 21 Aug 2011 13:56:44 -0700

Bridgeland is a master planned community in Cypress, Texas. Construction is set to begin in the Fall of 2011 on The Lakeland Village Center. This Center will be a mixed-use center with retail, apartments, and restaurants. Bridgeland’s Lakeland Village Center will be located on the corner of Fry and Bridgeland Lake Parkway. The center will be right across CyRanch High School.

Bridgeland is booming! If you are considering a move to Houston, please consider working with Giraffe Realty. We’d love to help you find your new home. Right now, builders in Bridgeland are offering huge incentives to home buyers. There are homes for sale in Bridgeland to suit everyone’s budget.

The Lakeland Village Center will look like a large house, with the first floor encompassing retail and restaurants. The second and third floors will be apartments. There will also be a private school on the property. All in all, there will be 24 acres devoted to mixed-use development.

This type of development is getting quite popular in the Greater Houston area. If you look at what City Centre has become or the development around Kirby and Westheimer, you can get an idea of what is to come. Woodlands has incorporated some of this type of development as well.

I firmly believe that this center will add to home owner resale values. People want the convenience of living in close proximity to retail shops and restaurants. As far as the apartments go, my guess is that they will be higher end, and these days, some apartment rents are higher than home mortgages.

Giraffe Realty Sells Homes in Bridgeland

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Tue, 19 Jul 2011 12:12:32 -0700

Bridgeland is a master planned community located just outside of Houston, Texas. Bridgeland is located in Cypress, Texas. Bridgeland is 20 miles outside of Houston, Texas off of Highway 290 and North of Fry Road. Bridgeland is in its early stages of development. With over 11,000 acres slated for development, only 10% of Bridgeland has been built to date.

For now, residents enjoy all the world class amenities that Bridgeland has to offer. Residents of Bridgeland are also pleased that our students attend the Cypress Fairbanks Independent School District (CFISD), the largest recognized school district in the state of Texas.

What is the Real Estate Market like in Bridgeland? Glad you asked.

Bridgeland is developing better than expected. Most builders would say that they are selling homes faster than their projected goals. I was at a David Weekley luncheon the other day, and the builder’s representative said that David Weekley surpassed last year’s numbers by 200%.

Below is a chart that I create on a monthly basis. I pull the data from the Houston Association of Realtors (HAR) Multiple Listing Service (MLS) website. Please note that not all sold homes are listed on this chart. Most times, when homeowners buy a lot directly from the builder and later build on it, the home is not reported to HAR. Many times, when a builder sells a home in its early stages of production, the builder may choose not to report this sale to HAR. Because most of the home sales in Bridgeland are from builder to homeowner, most home sales are not reported to HAR. The table only reflects the homes that were reported to HAR.

Blackhorse Ranch in Cypress Texas Real Estate Market Report

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Thu, 13 Jan 2011 22:34:58 -0800

Yawn! Not many Homes Sold in Blackhorse Ranch this past month

Blackhorse Ranch, a Golf Course Community in Cypress, Texas, did not see a whole lot of home sales activity in December. The good news is that there were no distressed sales, meaning none of the homes that sold were foreclosures or short sales.

Take a look at the table below to see the number of homes that sold in Blackhorse Ranch during the last month and even take a look at all the home sales activity that was reported on the MLS throughout 2010.

Click on Table to view larger

If you are interested in buying or selling a home in Blackhorse Ranch, please contact me.

Homes are selling like Hot Cakes in Bridgeland, Cypress Texas

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Thu, 13 Jan 2011 22:32:21 -0800

Homes are selling like Hot Cakes in Bridgeland, Cypress Texas

December was a phenomenal month for home sales in Bridgeland, a master planned community in Cypress, Texas. The Luxury Market, meaning homes priced between $300,000-350,000, did exceptionally well this past month. Homebuyers are definitely taking advantage of some of the lowest interest rates we have seen in a while.

Adding to this good news, only one home that sold in Bridgeland this past month was a distressed sale; it was a foreclosure. This helps keep the value of the homes in this community strong.

Click image below to view larger version

If you are interested in buying or selling a home in Bridgeland, please contact me.

Bridgeland in Cypress, Texas focus on Community Involvement

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Mon, 20 Dec 2010 23:55:22 -0800

If you are looking for a community to raise your family, that offers a superb school system, outstanding amenities, and plenty of opportunities for you to get involved, I encourage you to check out Bridgeland in Cypress, Texas.

For Moms and Dads:

Bunco

Scrapbooking Night

Bridgeland Book Club

First Ladies of Bridgeland

Volunteer for Section and Block Liaisons

Tennis, Pilates, and Yoga, Zumba Classes

Bridgeland Garden Club

Bridgeland Bible Study

The Empty Nesters

Men's Poker Night

Boat Dock and Fishing Pier

Disc Golf League

Kayaking

Neighborhood Watch Program

Informed Citizens Group

Parents Night Out

For Kids:

Swim Team: Barracudas

Tennis and Swim Lessons

Classes held at Lakeland Activity Center: Art, Science, Self Defense

Oak Meadow Park: free equipment check out

Catch and release fishing

For the Family:

Concerts in the Park Summer Series

"Get to Know your Neighbor" Bingo Night

Family Outdoor Skill Series (archery/ kayaking)

Outdoor Nature Classes

Community wide events all year long!

www.GiraffeRE.com

~Helping You Live the Good Life!

Bridgeland in Cypress, Texas experienced a Robust Month of Activity in November 2010

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Mon, 20 Dec 2010 23:50:11 -0800

Bridgeland is a master planned community located in a suburb of Houston, in Cypress, Texas. Please refer to the table below to see the homes that sold in Bridgeland during the last year. Keep in mind that since Bridgeland is in its early development as a community, not all homes that sold were reported to the MLS. Many times, when people buy a home directly from a builder, these homes are not listed on MLS. Far more homes have sold in Bridgeland than have been reported.

Click on Chart to View Larger

Bridgeland saw a splurge of homes that sold in November 2010. Twice as many homes sold in November this year compared to the month before. Likewise, twice as many homes sold in November 2010 from the previous year. The real estate market is definitely picking up in Bridgeland.

In November 2010, 8 homes sold overall. 6 of the homes were new home sales, and 2 of the homes were resales. None of the sold listings were distressed sales (foreclosures or short sales). Yay!

The strongest market for home sales in Bridgeland remains in the $200,000- $250,000 price range.

Bridgeland is experiencing robust growth. Bridgeland has received many accolades, including "Developer of the Year", "Best Planned Community", and "Best Master Planned Community". As a resident of Bridgeland, I can attest to how wonderful it is to live here. From the amenities, to the plentiful community events, to the outstanding schools, I am proud to call Bridgeland home!

If you are interested in further analysis of this community or any other, please contact me at your earliest convenience.

www.GiraffeRE.com

~Helping you Live the Good Life

Blackhorse Ranch in Cypress Texas Real Estate Market Report Looks Great!

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Mon, 20 Dec 2010 23:47:24 -0800

Blackhorse Ranch is a golf course community located in a suburb of Houston, in Cypress, Texas. Because of the recent, lowest mortgage interest rates in history, Blackhorse Ranch saw some rigorous activity for home sales during the month of November 2010.

Click on Chart to view Larger

Compared to last November, one more house sold this year in Blackhorse Ranch, and the average days on market of the sold listings is significantly lower this year as well. This is good news for the real estate market in Blackhorse Ranch. Homes for sale in the $200,000-$250,000 price range did best overall. Of the 5 homes that sold in November, 3 were new home sales, and 2 were re-sales. None of the homes that sold were distressed sales (foreclosures or short sales).

Keep in mind that sales last November were most likely spurred by the First Go Round of the Homebuyer Tax Credit. This November, although there was no homebuyer tax credit, people took advantage of the lower interest rates. By now, everyone should realize the enormous amount of savings when buying a home in today's market because of the lower interest rates. It is more economically advantageous to purchase a home today, even without the Homebuyer Tax Credit.

As of today in Blackhorse Ranch, there are 23 active listings. On average, about 5 houses sell per month in Blackhorse Ranch, so right now, there is technically a sellers market in Blackhorse Ranch. (Please check out my previous blog for more information on "absorption rates").

If you would like further analysis regarding Blackhorse Ranch or a free market analysis for your neighborhood, please contact me at your earliest convenience. I would be happy to provide you with more detailed information on this or any neighborhood.

www.kathyjonesrealty.com

~Helping you Live the Good Life

May 2010 Real Estate Market Report for Rice Military, Houston, Texas 77007

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Thu, 10 Jun 2010 18:24:55 -0700

May 2010 Real Estate Market Report for Rice Military, Houston, Texas 77007

Rice Military is defined as the area in Houston that is East of Wescott St., North of Memorial Drive, West of Shepherd, and South of I10. Rice Military lies in the 77007 zip code.

For the month of May, there were 104 active single family/townhome/condo listings. 22 listings are in pending status (meaning there is a contract in escrow), and there were 18 sold listings.

Of the 18 sold listings, 5 were distressed sales, a slight increase from last year this time. Distressed sales are foreclosures or short sales.

Of the sold listings, $139 is the average sold price per square foot. However, when you remove the distressed sales from the sold listings, the average price per sq ft jumps to $150 sq ft.

Sellers, the biggest challenge you have in selling your home in Rice Military is the large number of inventory on the market today. Trying to beat out 104 other homes is hard to do! It would take at least 6 months just to sell the current inventory of homes. Even more challenging is the competition from the distressed sales. Granted, distressed homes sometimes aren't move-in ready, but for the right price, many homebuyers are willing to put in some elbow grease. If you would like to discuss the best marketing strategy to get your home sold in the quickest time possible, please feel free to contact me at your earliest convenience. If you are behind on your mortgage payments, we can discuss that, too. Email me at kathy@kathyjonesrealty.com.

Buyers, if you are looking to live in Rice Military, you have quite the selection of homes to choose. Please check out this blog. If you would like me to show you around Rice Military, please email me at kathy@kathyjonesrealty.com.

Rice Military is a great place to live, especially if you are young and single, and you want to be where the action is!

www.kathyjonesrealty.com

15th Annual Festival of Greece in Houston, Texas

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Wed, 12 May 2010 18:29:27 -0700

Come and enjoy the The 15^th Annual Festival of Greece from May 13-May 16, 2010 in Houston, Texas. The festival is held at St. Basil the Great Orthodox Church at 1100 Eldridge Parkway.

Tantalize your taste buds with homemade Greek foods, traditional pastries and wine. Be entertained by watching and participating with the Greek folk dancers while listening to Greek music. You can also shop for those Greek specialty items in the Gift Shop.

This is a family friendly event, and there will be fun activities for children as well.

Be sure not to miss out on all the fun that will be going on this weekend at the festival! There will be plenty of food, dancing and good times. Opa! Hope to see you there.

Admission is $3; Kids 12 and under are FREE. Free admission on Thursday, May 13 for the entire family.

For more information, please visit www.festivalofgreece.com.

www.kathyjonesrealty.com

Home Improvement is On the Rise in America

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Mon, 05 Apr 2010 11:54:19 -0700

Americans have historically been nomadic by nature, on average moving our place of residence every 5-7 years. Our mobility rate has slowed down tremendously these last few years. The aging population, dual income families, and the fact that many Americans are feeling the pinch of the recession are all precursors to this recent trend.

Americans are choosing to remain in their homes. Homeowners would rather update the look and feel of their home, than to sell in today's down market. Many retailers, such as Home Depot and Lowe's have reported higher than expected earnings this year, and they have projected this trend to continue for the remainder of 2010.

Every year, I look forward to Remodeling's Cost vs. Value Report. It outlines which home improvement projects will give homeowners the most bang for your buck. This report analyzes the average cost of a home improvement project and the amount of return you can expect on it. The report also breaks down the data by geographic region and provides the information in an easy to read format. Check it out here.

Surprisingly, this year's cost vs. value report shows the exterior of the home bringing greater returns on your money. Improving curb appeal ranks high on homeowner's to do list, as well as replacing old and outdated systems with energy efficient ones. Homeowners are also more focused on improving their outdoor living spaces.

The furniture industry is also expecting some gains this year. Homeowners are embracing their own individual styles, making their homes as unique as they are. Eclectic designs are all the rage. Contemporary traditional is the favored style of today. Mixing things up, and juxtaposing various styles together in one room is the trend of tomorrow. People are choosing bright colors and metallics to freshen up a room. Eco-friendly furniture as well as modular furniture are favored among designers today.

www.kathyjonesrealty.com

Understanding the Title Commitment in Texas

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Mon, 05 Apr 2010 11:01:15 -0700

The purpose of the title commitment is to provide the terms and conditions on which the title company will be issuing a title policy. It is a commitment for title insurance.

Title insurance protects you, the buyer, from any lawsuit which may arise while you or your heirs have an interest in the property. The title company will either clear up the title problems for you, or it will pay for your losses.

The title commitment is delivered by the title company to the buyer, lender, seller, and real estate agents of the transactions, within 20 days after the Title Company receives a copy of the effective contract.

There are 4 parts, or Schedules, to the title commitment.

Schedule A (Actual Facts) contains specific information about the proposed transaction:

•· effective date of the commitment

•· proposed amount of insurance

•· type of policy(ies) to be issued

•· the name of the proposed insured(s)

•· the person(s) in whom title is currently vested

•· the estate or interest in land to be covered

•· the legal description of the property to be insured

It is important to check this information and be sure that the information here matches the information in the contract.

Schedule B (Buyer Notification) contains a list of standard and specific exceptions that the title policy will not cover. This is the section of the title commitment that addresses where other parties have any interest or control of the use of the property. The standard list of exceptions is found on the Promulgated TREC and TAR contracts, and they include things like, restrictive covenants and Ad Valorem Taxes which are never covered in a title policy. The specific exceptions are items such as Easements, Building Lines, and Encroachments which vary according to the particulars of the property.

Schedule C (Clear in order to Close) is where the title company outlines which requirements must be met in order for the title policy to be issued, or you may not be able to close. Schedule C will include any defects to the title, ie. impending judgments and liens.

Schedule D is the Disclosure portion of the title commitment.

The title company will disclose the ownership and offices of the Underwriter and Agent, as well as disclosure of any party receiving a portion of the premium for furnishing title evidence, examination, and/or closing the transaction.

You and your agent should review your title commitment as soon as you receive it. It is especially important to immediately review Schedule C, as any stated issues must be cleared up before closing is possible. It is also imperative that you look at Schedule A to be sure that all names and legal descriptions match the information on the contract.

Once the title commitment is issued and addressed, you will be cleared for closing. Now, it is up to your lender to take care of getting your loan processed and funded.

www.kathyjonesrealty.com

Another One Bites The Dust: The Builder's Rep Works for the Builder, Not YOU!

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Tue, 30 Mar 2010 15:29:10 -0700

I met some potential clients at one of my open houses. They came back later that week for a second showing on my listing, and when I called them to get some feedback, they told me that they had signed a contract on another house in a nearby developing community.

Unrepresented.

I thought, great, another one bites the dust. :(

I shared some prices of sold homes in that community,and it didn't take long before they felt just like I did about their "deal". Of course, if it were up to me, I would rip up that contract, and start all over, but that was not my decision to make. They were too worried they would lose the house even though market conditions indicated that the home would probably still be sitting there next summer.

Ok...maybe not this bad.......

They were told that they got "this awesome deal because they did not use a realtor"...when in actuality, if they had used a realtor, they would have gotten a much sweeter deal.... They also would have signed a TREC contract, not a builder's contract, where the builder is the only one who is protected. They did not get an option period either. Is that a good deal? They will pay over 10% of the market value of that home, and over the lifetime of the loan, who knows how many thousands of dollars this will equate. They were also told they had to close in less than 4 weeks to get "the great deal".

Hogwash.

Readers, a realtor will represent your best interest and negotiate the offer so that it is highly in your favor. The realtor knows the marketplace and is aware of what the other homes in that neighborhood were sold for. Maybe that community is giving away a free outdoor kitchen to the buyers, but how would you know? Many times these incentives are not advertised. The realtor will also provide due diligence when evaluating a particular property. There are a whole host of things that can go wrong after you sign a contract, and without the expertise of a realtor guiding you along, you could lose a lot more than your money, time, and sanity. Builders have already factored in commissions to their bottom line, and when you don't use a realtor that "extra money" will go into their pocket, not yours. The builder's representative works for the builder, not you!

Never, ever walk into a new home community unrepresented. It will be the biggest mistake you will make should you decide to make an offer on a home. You need a realtor who knows the business and is on your side, looking out for you and you only. That is what we are paid to do. Not by you, either, but by the seller. So, call one of us. We would love to help you!

Hugs and handshakes, Kathy Jones

www.kathyjonesrealty.com

Blackhorse Ranch Easter Egg Hunt, March 2010

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Sun, 21 Mar 2010 14:46:27 -0700

The Ladies of Blackhorse Ranch proudly invite you to the 2010 BHR EGGstravaganza!! We have so many wonderful activities planned this year.

Visit from the Easter Bunny
Age designated Easter egg hunt
"DJ Jay" will provide the entertainment
Face painter
Balloon artist
Train rides
Crafts
Games (including: Hula hoop contest, jump rope contest, potato sack races and more)
Snacks and beverages will be provided
Photo opportunity for family Easter shots

This is our largest event of the year and the Ladies of Blackhorse have worked extremely hard to deliver a fantastic, memorable event for the entire family.

Please contact kathy@kathyjonesrealty.com for more information. Hope to see you there!

Memorial Villages, Houston, Texas: A Great Place to Invest and Call Home!

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Tue, 09 Mar 2010 16:13:44 -0800

Memorial Villages, Houston, Texas: A Great Place to Invest and Call Home!

As many homeowners and future move up buyers contemplate the state of the housing industry, I wanted to let everyone know that there are sound real estate investments to be made, even in today's economy.

Today, I will blog about the Memorial Villages in Houston, Texas. The Memorial Villages include the cities of Hedwig Village , Piney Point Village ,Hunters Creek Village, and Bunker Hill Village which are South of I10 and Spring Valley Village and Hilshire Village which are North of I10. For the sake of today's blog, I will focus on the villages South of I 10.

Once occupied primarily by German farmers, today the residents of The Memorial Villages comprise one of the wealthiest communities in all of Texas. In 2008, Forbes.com selected Bunker Hill and Hunters Creek Village as one of the top three areas to live well in Houston. People flocked here in the 60's looking for an escape from the bustling Inner City. Homeowners today enjoy the luxuriousness of their sprawling estates and the hometown feel of a community they govern themselves.

Key Reasons Why Buying in the Memorial Villages makes good economic sense:

1. Bunker Hill Village, Hunters Creek Village, and Piney Point Village jointly operate the Memorial Villages Police Department. Hedwig Village operates its own Police Dept. The Village Fire Department serves all of the Memorial villages. These villages have their own mayor and council members. Safety, security, and local government give the residents the peace of mind and stability that all homeowners crave.

2. Students who live in this area attend the Spring Branch Independent School District, where I had the pleasure of teaching for 7 years. The feeder schools that the children attend are: Memorial Drive Elementary, or Bunker Hill Elementary, or Frostwood Elementary which are all are Exemplary Schools. Memorial Middle School is an Exemplary School as well, which is quite an honor for a middle school population. Remember, Middle School? Was anyone THAT interested in school??? Well, these kids are! Spring Branch Middle School is Recognized. Memorial High School is also Recognized. These students are highly motivated individuals both in the classroom and in their extra curricular activities. Unlike many other "wealthy" neighborhoods in Houston, it is not paramount that you send your child to a private school. When you live in the Villages, you can be comfortable in the fact that your children will get a good education. This is a big selling point for this area.

3. The Villages are very conveniently located to Central Houston. Surrounded by excellent shopping, fine dining, and hospitals, the residents do not have to travel far for these luxuries. The entire area is booming with new construction. I 10 is now 10 lanes, and getting to and from any part of Houston is so much easier.

4. Let's talk numbers! I pulled the sold listings from previous years. My parameters were: 77024 zip code, 4 bedrooms+, 4 baths+, New construction, No pool, 15000-35000 sq ft lot, 5000-6500 sq ft home. This is what I uncovered:

Year		Price per sq ft.

2004		270
2005		262
2006		284
2007		313
2008		347
2009		295
2010		305

We all know how challenging of a year 2009 was for all of us in the housing industry. The stock market took a huge plunge, and the value of homes also took a nosedive. Builders had the worst year they have had in years. BUT, the plunge of 2009 still had homeowners who may have bought in 2004 holding onto some equity. How many other housing markets in Houston can say that? Less than 2. Maybe.

2010 is already showing some gains. I thought this story about the Memorial Villages in the Chronicle was worth reading.

I sell homes and lots in the Memorial Villages, and if you are interested in listing your home or purchasing a new home in this part of town, please contact me at kathy@kathyjonesrealty.com.

(I apologize in advance for my website. I am overhauling it this year, and it is under construction).

www.kathyjonesrealty.com

"Helping my clients build wealth through real estate"

Memorial Villages, Houston, Texas: A Great Place to Invest and Call Home!

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Tue, 09 Mar 2010 15:52:21 -0800

Key Reasons Why Buying in the Memorial Villages makes good economic sense:

Bunker Hill Village, Hunters Creek Village, and Piney Point Village jointly operate the Memorial Villages Police Department. Hedwig Village operates its own Police Dept. The Village Fire Department serves all of the Memorial villages. These villages have their own mayor and council members. Safety, security, and local government give the residents the peace of mind and stability that all homeowners crave.
Students who live in this area attend the Spring Branch Independent School District, where I had the pleasure of teaching for 7 years. The feeder schools that the children attend are: Memorial Drive Elementary, or Bunker Hill Elementary, or Frostwood Elementary which are all are Exemplary Schools. Memorial Middle School is an Exemplary School as well, which is quite an honor for a middle school population. Remember, Middle School? Was anyone THAT interested in school??? Well, these kids are! Spring Branch Middle School is Recognized. Memorial High School is also Recognized. These students are highly motivated individuals both in the classroom and in their extra curricular activities. Unlike many other "wealthy" neighborhoods in Houston, it is not paramount that you send your child to a private school. When you live in the Villages, you can be comfortable in the fact that your children will get a good education. This is a big selling point for this area.
The Villages are very conveniently located to Central Houston. Surrounded by excellent shopping, fine dining, and hospitals, the residents do not have to travel far for these luxuries. The entire area is booming with new construction. I 10 is now 10 lanes, and getting to and from any part of Houston is so much easier.
Let's talk numbers! I pulled the sold listings from previous years. My parameters were: 77024 zip code, 4 bedrooms+, 4 baths+, New construction, No pool, 15000-35000 sq ft lot, 5000-6500 sq ft home. This is what I uncovered:

Year		Price per sq ft.

2004		270
2005		262
2006		284
2007		313
2008		347
2009		295
2010		305

We all know how bad of a year 2009 was for all of us in the housing industry. The stock market took a huge plunge, and the value of homes also took a nosedive. Builders had the worst year they have had in years. BUT, the plunge of 2009 still had homeowners who may have bought in 2004 holding onto some equity. How many other housing markets in Houston can say that? Less than 2. Maybe.

2010 is already showing some gains. I thought this story in the Chronicle was worth reading:

I sell homes and lots in the Memorial Villages, and if you are interested in listing your home or purchasing a new home in this part of town, please contact me at kathy@kathyjonesrealty.com.

(I apologize in advance for my website. I am overhauling it this year, and it is under construction).

www.kathyjonesrealty.com

"Helping my clients build wealth through real estate"

12 steps to Buying Property in Greece

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Mon, 22 Feb 2010 19:54:36 -0800

12 Steps to Buying Property In Greece

Greece is famous for its hot summers, beautiful beaches, low cost of living and wealth of historic, cultural and scenic attractions. If you have seen a property in Greece that you wish to purchase, please read on.....

Generally speaking, there are no restrictions to foreign nationals acquiring real estate in Greece. Once you have purchased your property, you become the freehold owner in perpetuity. The good news is that once you have found your new home and secured financing, completion of the process should not require more than 6-8 weeks. The bad news is you need to add about 20% to the purchase price to cover costs such as taxes, fees, and the hiring of attorneys and notary publics.

•1. Work with a real estate agent. This will help insure a smooth transaction with a professional who knows the market and the laws. In Greece, less than half of all real estate transactions involve a real estate professional, but that number is on the rise. Be advised that whoever hires an agent, pays the agent. So, if you as buyer, decide to hire an agent, you will pay their fee. If the seller hires an agent to market their property, then they will pay the agent their fee. The typical fee is 2-4% of purchase price.

•2. A preliminary contract is drafted between the seller and buyer which is signed by all parties involved. This preliminary contract outlines the description of the property, boundaries, the negotiated purchase price, commissions paid to real estate agents, etc.

•3. A deposit of 5-10% is needed to secure property. If you back out of deal, you will lose your deposit, and if the seller backs out of deal, you are entitled to receive double the deposit in damages.

•4. Obtain a local tax roll number (AFM) which gives foreign nationals permission to buy property. This number is very important, so keep it handy. You will need it to open a bank account, turn on utilities, or propose planning/development. To get this number, you need to fill out an M1 and M7 tax form. Non Greek residents have to designate a Greek resident to receive all communication while you are out of the country. The easiest way to do this is to issue a power-of-attorney to someone in Greece you trust.

•5. Open a bank account in Greece since all monies to fund transaction must come from a Greek bank. A person from another country interested in buying property in Greece will need to obtain what is known as a "pink slip" for wire transfers of money from abroad. Greek authorities are very concerned with where the money to purchase a property came from. If you cannot provide a "pink slip", be prepared to pay an income tax on the money wired in to fund the transaction.

•6. Hire a civil engineer to inspect and analyze the property, both structurally and to ensure the boundaries of the property are not encroaching on the neighbor's. Obtain a Topographic Survey.

•7. Hire a bilingual attorney to represent you in Greece for the purchase of the property. The Buyer must appoint an attorney to assist him with and represent him in the process.

•8. Your attorney will draw up the final contract with seller insuring the seller has the right to sell and that there are no outstanding debts. (S)he will also determine that the construction was completed in accordance to all planning and building permissions, and the property does not encroach on another's land. Attorney's negotiated fees are typically 1-2% of sales price.

•9. You or your attorney will hire a Public Notary, a State Official who is a neutral party in the transaction, who will prepare all the other documents needed to purchase property. In Greece, this person is called the Symvoulografo. In order for any purchase agreements to be valid, they must be done in the presence of a Public Notary. You will pay the Public Notary a fee that is usually about 1-2% of the amount listed in the deed of the sale.

•10. You will also need to pay the transfer tax that is payable to the local tax authority and amounts to 9% for the value up to 15,000 Euros plus 11 % for the value above 15,000 Euros. In areas that are not covered by a fire department these figures drop to 7% and 9% respectively.

•11. Once all the necessary legwork has been completed and both the attorney and the Public Notary give their approval to convey property, the formal transaction takes place at the Office of the Public Notary. The balance of the purchase agreement is paid at this time. Once the contract is signed and agreed upon by all parties and the Public Notary insures that the documents comply with Greek law, the property is conveyed and sent to the Land Registry for Registration of title. This fee amounts to 0.45 % of the property value.

•12. Congratulations! You now own property in Greece! Giamas! Cheers!

** Be sure to also speak with your tax advisor both in the US and in Greece for taxation requirements.

If you are interested in purchasing a property in Greece, please contact me. I know of several properties that may be of interest.

www.kathyjonesrealty.com

Lower your Home Energy Bill and Get a Tax Credit!

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Tue, 09 Feb 2010 15:57:50 -0800

Lower Your Home Energy Bill and Get a Tax Credit!

With it being tax season, I wanted to pass along a great tax credit for homeowners. By making cost effective, energy efficient home improvements, you can qualify for a tax credit of $1500.

Here are the requirements and rules:

1. You must make the improvements in 2009 and/or 2010 for the tax credit.

2. The tax credit is 30% of the cost of the improvements or up to $1500.

3. It is a one time tax credit and can be claimed on 2009 or 2010, or partly on each year's tax return.

4. If you used the $500 tax credit in 2006-2007, you can only use the remaining $1000 now.

5. The improvements can be for heating, cooling equipment (not window ac units) or "building envelope" products. This includes, replacement windows, storm windows, storm doors, insulation, etc. Installation costs for these "building envelope" products are not covered, but the cost for heating and cooling are.

Please keep in mind I am not a tax expert, so for any questions go to www.energytaxincentives.org. , or ask your tax advisor.

www.kathyjonesrealty.com

Texas Home Builders- What you need to know!

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Tue, 02 Feb 2010 15:58:29 -0800

Texas Home Builders- What you need to know!

Well, we've looked and looked, and there is no place to call home. You've shown your client just about every possible home within their desirable geographical location/price range, but nothing sings, "Buy me!" Your client begins to envision a home that combines 3 or 4 of the floor plans you've shown, and that home just does not exist on the market.....

So you suggest that perhaps they should build that vision....

Who's going to build "My" Dream?

Back in 2003, the Texas Legislature established the TRCC (Texas Residential Construction Commission). The TRCC was supposed to register home builders and remodelers and their projects, as well as oversee the state's formal home inspection process. Through the TRCC, you could research a builder's credentials and have some recourse if the builder acted unscrupulously.

The Commission was comprised of nine members appointed by the Governor: four registered builders, three members of the general public, one engineer who practices in the area of residential construction and one either architect or inspector who practices in the area of residential construction. The commission members serve six-year staggered terms. The commission was committed to ensuring quality construction for all Texans. The commission could issue fines and take a number of disciplinary actions against builders or remodelers that did not do what the law requires of them.

After 6 years, the TRCC is no longer in effect, The TRCC has "sunsetted" its agency... read here. http://www.homeownersoftexas.org./TRCC-Eulogy.html or here http://trcc.state.tx.us/Publications/NewsReleases/09_20_09_Sunset_FAQs.asp

Many Texans believed the TRCC did more to protect homebuilders from lawsuits than it did to protect homeowners. The TRCC was created to help the consumer, but many felt that all it did was help the builder, and it got completely out of control. Based on TRCC's own records, reports from two state agencies, and overwhelming public testimony, Texans were worse off with the TRCC than with previous laws (RCLA & DTPA).

So, now what? How do you check out your builder's credentials? Texas is the only major homebuilding state in the nation that does not license homebuilders. Registered builders are automatically granted a license. There's nothing to get rid of bad builders or prevent unqualified persons from entering the field. Homeowners unwittingly think the State is regulating the industry and protecting them, and now the only recourse you have against a builder is filing a complaint with the BBB or the Texas Attorney General's office.

Here is what you can do to make sure your builder won't leave you hanging:

•1. Check and ask for references from the builder. Have prospective builders "bid" on your project, and make sure they provide as much detail as possible when it comes to the plans/specifications (ie. Foundation, insulation, appliances, fixtures, millwork, flooring). Make sure you are comparing apples to apples.

•2. Check out the www.bbb.org website. You can get the builder's BBB rating as well as significant information on the builder, like how long they have been in business and if any complaints have been filed against them.

•3. Google them, of course! That goes without saying...

If you need help locating a lot or finding a reputable builder, please feel free to contact me at www.kathyjonesrealty.com

First Time Home Buyer/ Move Up Buyer Tax Credit Deadline and Details

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Mon, 01 Feb 2010 15:51:57 -0800

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010. This means that you must have a fully executed contract signed by all parties in effect no later than April 30, 2010.
Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.
Armed services members, as well as intelligence service and foreign service personnel, who are on active duty and out of the U.S. for 90 days during any part of 2009, get an additional year to buy their homes, to May 1, 20ll.

Who Qualifies for the Extended Credit?

First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a "first-time home buyer" the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see: 2009 First-Time Home Buyer Tax Credit.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops. Vacation homes and second homes do not apply for the credit.

The home you purchase with the tax credit must become your main residence. There is no requirement to sell your previous home. You can rent it out, use it as a second home, or list it for sale at any time.

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000. The credit is equal to 10% of purchase price of the home, up to $8,000. So, if you purchase a home for $55,000, then you will receive a credit of $5,500.

The maximum allowable credit for current homeowners is $6,500.

Taxpayers are required to submit copies of their settlement statement (HUD-1 forms), along with their request for the credit using IRS Form 5405, (http://www.irs.gov/pub/irs-pdf/f5405.pdf).. Individuals who are under 18 or who are counted as dependents on another taxpayers filings are prohibited from claiming the credit. If a married couple is claiming the credit, at least one of them must be 18 at closing.

How is a Buyer's Credit Amount Determined?

Each home buyer's tax credit is determined by two additional factors:

1. The price of the home.

2. The buyer's income.

Price

Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income

Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000-may receive the maximum tax credit.

These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit.

If the Buyer(s)' Income Exceeds These Limits, Can He/She Still Get a Credit? Please read this since many realtors are not reporting the income requirements.....

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income-over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close. (Again, read this carefully. Many blogs have June 30, 2010 as the final closing date.)

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.

www.kathyjonesrealty.com

Rice Military, Houston, Texas: A Great Place For Gen X and Gen Y to call home!

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Mon, 25 Jan 2010 13:17:38 -0800

Rice Military, Houston, Texas: Ideal For Gen X and Gen Y

A sold listing of mine in Rice Military

Location, Location, Location!

The boundaries of the Rice Military neighborhood are Washington Avenue on the north, Memorial Drive on the South, Shepherd Drive on the east, and Westcott Street on the west. Rice Military, located inside the prestigious inner loop of 610, is ideal for the young (at heart) and upwardly mobile crowd who like to be where the action is.

Demographics:

Rice Military is fairly equally split between the number of men and women who live there, and equally split between the number of single and married couples. The median age of the residents is 32. Rice Military is considered an upper middle class neighborhood, where the average income of a resident is $70K. About 10% of the residents are renters.

Schools:

Residents are zoned to the Houston Independent School District. Elementary students will attend the "Recognized" Memorial Elementary School. Middle School students will attend the "Academically Acceptable" Hogg Middle School and High School students will attend the "Recognized" Lamar High School. (For more information on how schools determine its TEA status, check out my blog) Of course, there are also private school options available as well.

Pros and Cons of Living in Rice Military:

PROS: Rice Military offers affordable living for young professionals who want to be close to the action. Minutes from Downtown, The Galleria, the Theater District, Memorial Park, countless top rated restaurants and bars, residents of Rice Military love the lifestyle that it affords. To be this close to this much and not have to pay over $500K for your home is what draws the young and ambitious to Rice Military. Finally, Rice Military is an area of transition... Many residents who bought early on are seeing tremendous equity in their property today. In my opinion, it still remains a sound investment for home buyers who are looking to live there for a few years, and later sell for a substantial profit.

CONS: Rice Miltary is not the best place to raise a family. Rice Military is densely built, and Houston ISD is not the best school system in or around Houston. Residents may complain of noise, cramped streets, and late night "shenanigans" created by the aftermath of neighboring bars releasing their intoxicated and wandering inhabitants into the neighborhood (or this may be your cup of tea). For some, a drawback may be the size of the home/lot is about half the size of what you could get out in the suburbs, minus the attractions, though. Most homes in Rice Military do not have yards, either, and this could be a drawback for some as well.

Depending on your lifestyle, age, and preferences, Rice Military may be the perfect place for you to call home. Please give me a call if you are interested in shopping around for a home in Rice Military. I would love to show you around.

Stay tuned for my market report of Rice Military for the month of January 2010.

www.kathyjonesrealty.com

Generation Z: A Generation Full of Promise

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Sun, 24 Jan 2010 11:05:27 -0800

Generation Z: A Generation Full of Promise

Generation Z was born after 1995, so not much can be said yet about its character and composition. Generation Z has also been referred to as "The New Silent Generation, Generation Next, Internet Generation, Net Generation, and Digital Natives". Generation Z is highly connected, and they have been active users of the internet and cell phones practically since the day they were born.

Since not much has been written about this generational cohort, I thought it would a great opportunity to blog about one of my fav subjects, my children, who just happen to be Generation Z.

Is it too early to buy my 2 year old son an ITouch?

I have an amazing 2 year old son. My Iphone is a constant source of stress these days. He can play with my Iphone longer than any other toy in his arsenal. Saying the iPhone is "user friendly" is an understatement! First thing he does in the morning is ask for my Iphone. He is able to look at pictures, take videos, play them back, and even begin the process of emailing them. He is also adept at playing several preschool video games. ALREADY. There is a lego app that involves several complicated steps for a two year old: you have take a picture, then go back to the home screen while the app loads the picture, then press another button, and a "lego pic" is made....He mastered this in minutes. Piece of cake.

He can barely talk, but "Phone, phone, Video, Video, Games, Games.... " are words that I hear repeatedly, and parents... you know what I mean when I say repeatedly.... It's amazing the stamina they have to repeat a word over and over... If I don't give in, then I will not be able to get any work done when I am at home. He runs off with my phone, and I just pray that he does not delete any relevant information. When my phone jingles, he runs it back to me like a well trained scout. This is a constant battle, so I have decided to buy him his own Itouch, at the ripe old age of TWO! I can't imagine this obsession with video games going away, if anything, it has gotten more intense.

After talking with many of my friends, this early onset of video game obsession is not uncommon. Will this make our kids more imaginative, or will the extrasensory overload make them immune to feel anything in the years ahead? Will he choose playing video games and surfing the net over the "human touch"? Aren't kids already doing this today? Are we robbing our children of their childhood/ innocence? Will living in virtual worlds become the status quo? That is a scary thought.

Multitasking at the age of 5

Then, there's my 5 year old (going on 15) daughter. We were all sitting at the dinner table enjoying some much needed family time. Out of nowhere, my daughter blurts out, "Can I color now?" "No, of course not, we are eating". Then she says, "Mom, I have a great idea. Why don't you turn on the TV? I can watch SpongeBob, while we talk and eat at the same time". Multitasking at the age of 5?

The Generation Full of Promise

We can bet that this generation will be even more tech savvy, even more educated, even more impatient, even more distractible than any other generation before.

It is hard to predict what life will be like in 5 years, much less 10 or 20. I am sure we will find a way to adjust to the new way of doing things in our profession. I could never have imagined the life we lead today, and the future is even more inconceivable to me. I wait in awe and wonderment. Our kids are full of promise, and all I can do is hope and pray for the best.

Thank you to all who took the time to read my four blogs on Generational Selling: Hug A Baby Boomer Today, Make sure your Generation X Prospect Diggs You, Or Else!, Why Ask Y? The Generation of Innovation, and Generation Z: Full of Promise.

I hope you all have a wonderful 2010. I wish you much success, however you define it! J

www.kathyjonesrealty.com

Why ask Y? The Generation of Innovation

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Sat, 23 Jan 2010 20:03:01 -0800

Generation Y, also referred to as "Gen Y, The Millenials, or The Echo Boomers", comprises the largest generation since the Baby Boomers. They were born between 1980-1994. They are 80 million strong, coming of age, and they are already making an unmistakable mark on society.

"Smile, Honey, Look at Mommy!"

Gen Y was raised in the glow and glare of their parents' omnipresent cameras. Although it's natural for humans to seek attention, these young people revel in it. They're accustomed to being noticed, having been showered with awards and accolades.

I can remember when I was in school, and we had tryouts for sports. You either made THE team, or you didn't. Today, kids are growing up definitely making A team. I taught middle school for 13 years, and I believe we had an A,B,C, and D team for all sports, in order to make certain "no child was left behind". To top it all off, everyone also got a "trophy" no matter how well you performed. Regardless, they were given the opportunity to play on a team, which does wonders to building character. They are loyal, committed, and strive to be included and involved.

"Now, Now, Now!"

It goes without saying that Gen Y is extremely tech-savvy. Since Gen Y grew up during the Internet boom and mobile communication revolution, technology is like their third arm.

They hunger for instant gratification and tangible outcomes. Gen Y has come of age with almost instantaneous access to just about everything and everyone -- from instant meals to instant messages. This constant immediacy has taught them to have little patience, short attention spans, and to seek ongoing progress in every aspect of their life. They can process information at lightning speed. They have also been involved with social media at a very young age. Many would argue that this sense of connectedness has impacted this generation in a positive way by encouraging a sense of belonging/importance, which we all crave.

Gen Y is also heavily focused on becoming rich and famous. They've watched celebrities, rock stars, and athletes "living the good life", and they envision all this fame and fortune for themselves. On the other hand, they have also seen Common Joes making it big just by being himself. They can be celebrities in their own worlds by posting videos on YouTube, posing like a supermodel on Facebook, or creating an online reality show featuring themselves.

Gen Y is demanding and strong-willed, and they love innovation. Highly "educated" and armed with an incredible sense of optimism, many Gen Yers have already made a profound mark on society.... Think, Facebook Founder, Mark Zuckerberg. They are a force to be reckoned with, and they are sure to change the face of our society in the years to come.

What does this mean to Realtors?

1. Like Gen Xers, Gen Y'ers consider the Internet to be their primary tool when searching for homes. Your internet presence is highly likely to impress them and you will gain 24/7 access to this segment of the market. Get your brand out there, online and offline, to build recognition for a market that will pay attention - especially if you "think outside the box" to set yourself apart from other brands. "Perception is Reality".

2. Gen Y views the real estate agent as their source of advice for helping them make a proper choice and planning a purchase strategy. Like Gen X, realtors must constantly prove their value. Gen Y wants a balanced view of home ownership--both the pros and cons. They'll often enlist the help of their parents, and then they'll charge full speed ahead once they've decided to buy. The agent's conversations about homeownership and the specific properties viewed must be sincere, direct and creative to make a favorable impression. Finally, when working with Gen Y, be sure to speak to them like an adult.

3. Gen Y is environmentally and socially conscious. This generation prefers homes that have incorporated green building features. This could have a positive influence on the green home market and is indicative of future trends that have considerable growth potential for green housing.

4. Gen Y buyers tend to want a home that's close to work; near a park (to walk the dog); and within walking distance to shopping, the gym, and local bars and restaurants. Easy home maintenance is also high on their list. They tend to prefer urban living over the suburban lifestyle. They also don't need to be married before considering purchasing their first home.

The world is changing, and Gen Y has their finger on the pulse of innovation, global social challenges, the environment and how to navigate through all aspects of life using the power of social networks. Better get on board.

www.kathyjonesrealty.com

Make sure your Generation X Prospect Diggs You, Or Else!

Kathy Jones Giraffe Realty, Broker, ABR (www.GiraffeRE.com) — Fri, 22 Jan 2010 15:31:41 -0800

Make sure your Generation X Prospect Diggs You, Or Else!

Generation X, or Gen X, encompasses the 44 million Americans born between 1965 and 1980. They are almost half the size of the generation before (Baby Boomers) and the one after (Gen Y). On the whole, they are more ethnically diverse and better educated than the Baby Boomers. Unlike previous generations, Gen Xers are not doing better financially than their (Boomer) parents.

Generation X came of age in an era of two-income families, rising divorce rates and a faltering economy. Women were joining the workforce in large numbers, spawning an age of "latch-key" children.

As a result, Generation Xers are independent, resourceful and self-sufficient. In the workplace, Generation X values freedom and responsibility. Many in this generation display a casual disdain for authority and structured work hours. They dislike being micro-managed and embrace a hands-off management philosophy. They espouse a "work hard/play hard mentality". They are the first generation to grow up with computers, and technology is woven into their lives.

What does this mean to realtors?

According to NAR, the Gen X demographic comprises approximately 25% of Realtors® while Gen Xers make up over 55% of homebuyers. What can you do to make sure your Gen X prospects "digg" you?

Since most home searches start online these days, Gen Xers will gravitate towards agents whose websites give value, not a sales pitch. Gen Xers grew up on commercials and blatant consumerism, and they recognize it when they see it. They need to be convinced that their agent is reliable, competent, and HAS VALUE! Loyalty in business settings is not paramount to Gen Xers, so do what you can to show your value. By the same token, incorporate your online presence into social media outlets like Facebook, Twitter, and LinkedIN. Keep in mind Gen Xers want information fast, and they want it easy!
When working with them, they will question everything and expect you to be as computer savvy as they are. Let them do their homework (because they want to), but make sure when it comes time to show your value, you have the answers they need. They expect a real estate agent to "chill-out" and just be there when they are ready. They definitely do not want to be involved in any form of "hard selling". Provide information swiftly and without fluff.
Many Gen Xers are struggling financially due to outstanding credit card debt. Be sure to offer good advice and direction when it comes to buying a home, especially their first home. I remember when I first got my real estate license, I met a wonderful young couple in their late 20s who had just had a baby. They owned two brand new luxury cars, a Mercedes and a Range Rover, living in an apartment. They had good jobs, and their future looked promising. They told me they had been approved for a $400K loan. I thought, "Wow, these kids are doing very well for themselves". We found the home that they both wanted, and then it came time to draw up the contract. I asked how much they were going to put down, and they said, "Zero". I immediately knew that this was not the right home for them. We had a long conversation afterwards, and I basically talked them out of buying the house....Wouldn't you know it.... 2 months later, they were transferred to Italy? They could have been stuck with a huge mortgage payment, and no way out. Point is.....this generation may need direction, and it is our job to provide it.
Gen Xers tend to buy their homes with an eye on appreciation value. They understand the value of owning real estate. They are less likely than other generations to be swept up emotionally with the purchase of a home. Gen Xers tend to be skeptical people, so be well prepared in advance of the market conditions when showing homes.

I'm a Gen-Xer. I was one of the millions of people who was seen by society as self-absorbed, lazy, confused young people that didn't care about much. Well, we all grew up and proved them wrong!

Generation X is the quintessential worker, full of entrepreneurial spirit and a willingness to bring goals to the finish line. We are well educated, technologically savvy, resilient, and collaborative; and as a realtor, I see myself more as a trusted professional advisor, than just a salesperson.