Rene's Blog

McAllen Residential Market Report

Rene Galvan (RGV Realty) — Sat, 18 Apr 2009 18:25:12 -0500

As with most of the country, real estate transaction volume in the McAllen Texas area has dropped. During the 4th quarter of 2008, sales decreased to 535 homes sold. Some of the factors contributing to the slowdown include the seasonality of real estate, the tightning of credit and buyer hesitation caused by media hype. Many files that were in process of closing were also delayed due to underwriters "overanalyzing" files.

During the 1st quarter of 2009, sales had a slight increase to 544 homes. But volume is down 15% compared to the same period last year.

In 2008, Foreclosures continue to gain market share as a significant component of the local real estate market. During the first quarter, REO / Foreclosure properties accounted for 47% of all closings. They only represent 11% of the inventory (233 of the 2,146 active residential listings) The turnover rate of REO listings is less than 3 months.

Banks are becoming more aggressive to move these foreclosures, which has dropped the average price of sold homes in this market. The banks are pricing their foreclosures so competitively that multiple offers will be presented, especially if the house meets FHA guidelines. The average sold price dropped 14% compared to the 4th qaurter of 2008 to $110,035.

On a positive note, the lending process is improving. As we enter the traditional selling season, many potential buyers are coming off the sidelines and are ready to take advatage of the bargains and claim an IRS tax credit for 1st time buyers.

Sunrise Lane, Sharyland Lot for Sale

Rene Galvan (RGV Realty) — Sat, 18 Apr 2009 14:04:07 -0500

Interested in building your dream home in the Sharyland School Zone of Mission, Texas? Lot #1 of Dublin Estates is currently available. This neighborhood is only two blocks north of Shary Elementary on Glasscock Road. With dimensions of approximately 108 feet by 201 feet, there is plenty of room to build your luxury home on this half acre lot. It is perfect for a single story residence with a pool.

The neighborhood is a single culdesac street to minimize traffic and the west side of the lot has the block community fence along Glasscock Road.

If you are interested in viewing this lot and subdivision, please contact me to coordinate an appointment.

Price & Details

Bentsen Lakes, McAllen Texas Homes

Rene Galvan (RGV Realty) — Sat, 18 Apr 2009 10:18:26 -0500

Bentsen Lakes is a prestigious community located in Southwest McAllen. The neighborhood has controlled access (gated) and includes a private park. The community park has a beautiful pool, tennis court, play equipment, basketball and soccer. Though in the city of McAllen, this subdivision is zoned for the Sharyland School District. The elementary school is only blocks away and is named after Lloyd M. Bentsen Sr. (father of former US Senator) and his wife Dolly.

Elementary school website

The neighborhood is convenient to many new commercial developments along Highway 83, connecting McAllen to Mission. It is only minutes away from the Club at Cimarron, a premier private country club.

For more information about buying or selling a luxury home in Bentsen Lakes, please contact me. Click below to view the homes currently offered.

Bentsen Lakes Homes for Sale

Gas Station for Sale, San Benito TX

Rene Galvan (RGV Realty) — Sat, 11 Apr 2009 14:34:51 -0500

A family-owned and operated business in South Texas is for sale. This independent gas station and convenience store is located in Cameron County in the Lower Rio Grande Valley. The Sellers are interested in retiring soon and have placed this property for sale in the commercial real estate market.

The business has high visibility from one of San Benito's major roads (S. Sam Houston Boulevard) and occupies a corner lot. The property includes two structures, gas pumps and inventory. The second building can be used as a warehouse, office or leased to a third party.

For more information regarding this opportunity, please contact Rene Galvan at RGV Realty.

Price & Details

McAllen Residential Market Report

Rene Galvan (RGV Realty) — Tue, 07 Oct 2008 11:16:31 -0500

Contrary to all the "gloom and doom" presented about the national real estate market, our local market of McAllen, Texas has demonstrated a strong performance in 2008. On a YTD comparison of September 2008 versus September 2007, the McAllen market has dipped only 6.9% for the number of houses sold in the MLS. As of September 30, 2008, the YTD sales for McAllen equals 1956 homes. During the same period last year, 2101 houses were sold.

In addition to sold data, the Greater McAllen Association of REALTORS (GMAR) is also tracking the number of houses under contract. At the end of September, there were 432 sales pending. These contracts should close during the last quarter of 2008. Last year, we had 358 sales pending on 9/30 and sold 612 houses during the fourth quarter. As lenders increase their review time (underwriting) to give final approval on loans, the transaction period is taking longer.

It is taking approximately two months to move transactions from "pending" to "sold". At our current rate, we are on track for Total Sales in 2008 to be within 10% of Total Sales for 2007.

South Padre Island

Rene Galvan (RGV Realty) — Mon, 17 Dec 2007 17:34:49 -0600

The Island has been a popular destination for local residents since the original Queen Isabella Causeway connected Port Isabel with South Padre Island. The new causeway was completed in 1974 and is the longest bridge in Texas. Another bridge is expected to be approved soon to connect South Padre with Laguna Vista.

Today, the island is the perfect place for a vacation. Outdoor activities include deep sea fishing, windsurfing, snorkeling, horseback riding, golf and tennis. Eco-Tourism & Birding also attract visitors from all over the country. The island is popular destination for families from Mexico during "Semana Santa", holy week before Easter, and college students during Spring Break. Many valley residents also own a condo on the island for their weekend getaways, but "the secret is out" and we have visitors from all over the world.

Historic Brownsville

Rene Galvan (RGV Realty) — Mon, 17 Dec 2007 16:59:48 -0600

Brownsville is located on the Texas – Mexico border only twenty minutes from the Gulf of Mexico. The city has played an important part of our history since the mid 1800’s. The first battle of the Mexican-American War was fought nearby. The city was established in 1849 by Charles Stillman. The Confederacy won the last battle of the Civil War nearby five weeks after General Robert E. Lee surrendered in Virginia.

Today, international trade with Mexico contributes to Brownsville’s rapid growth. The area’s retailers draw consumers from the Lower Valley and from Northern Mexico. The city has three international bridges with Matamoros and the cultures of these twin cities are intertwined.

"Make Ready" even more important today!

Rene Galvan (RGV Realty) — Wed, 21 Nov 2007 18:47:35 -0600

In today's competitive market, it is critical that your home is priced correctly and shows well. Inventories are at record levels and qualified buyers have many choices available to them. A good realtor will help you price your home based on current market conditions and should help you identify deficiencies on your property's curb appeal.

My clients and I viewed a home this morning which was not ready to be shown and has been crossed off our list. Listing Agents should work closely with Sellers to ensure that homes are clean and ready to move-in. Though this house was priced at almost $300,000 (twice the median for our market), the carpets were stained, bathrooms were dirty and the shower door was removed.

Fresh paint, clean carpets and bathrooms are a must if you plan on selling your home.

Benefits of Buyer Representation

Rene Galvan (RGV Realty) — Tue, 18 Sep 2007 09:38:22 -0500

Buying a home is a HUGE decision. You'll need the RIGHT person to represent you.

Real estate transactions can be complex with many details to be handled. Depending on your arrangement with a licensed real estate agent, that agent may actually be negotiating for the seller, not you the buyer. After much consumer confusion of "who represented who" in real estate transactions, agency laws were changed to provide for buyer agency in Texas. This ensures that the buyer has representation on their side and the agent has no fiduciary duties to the seller.

The best part about buyer representation is that it is FREE to the buyer.

Commissions are paid through the listing agent by the seller on their agreed upon percentage or fee. Members of the local board of REALTORS® have co-op agreements allowing the listing agent to offer compensation to agents that bring a buyer to the specific property listed. If you choose to buy a new home, the builder pays for your representation, not you. This doesn't increase the price of the home.

To be certain that an agent is working in your best interests, sign a buyer representation agreement with your agent. The Broker/Agent ONLY becomes the Buyer's Agent by entering into an written agreement to represent the buyer. Even if you don't chose RGV-Realty.com to represent you on your next home purchase, get professional buyer representation.

What is a Buyer Representative?

A real estate agent that represents only the buyer in a real estate transaction. A buyer's representative will:

Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.
Assist the buyer in determining the amount that they can afford (pre-qualify), and show properties in that price range and area.
Assist in viewing properties, accompany the buyer on the showings, or preview the properties on behalf of the buyer to ensure that the identified specifications are met.
Research the selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase the property.
Advise the buyer on structuring an appropriate offer to purchase the selected property.
Present the offer to the seller's agent and the seller on the buyer's behalf.
Negotiate on behalf of the buyer to help obtain the identified property -- keeping the buyer's best interests in mind.
Assist in securing appropriate financing for the selected property.
Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, etc.) if these services are needed.
Most importantly, fully-represent the buyer throughout the real estate transaction.

Homes at The Club at Cimarron, Mission TX

Rene Galvan (RGV Realty) — Thu, 06 Sep 2007 23:33:37 -0500

FORE!

Enjoy easy access to one of the premier golf communities in the McAllen / Mission area. Many homes have wonderful views of the fairways and ponds. The community is located near the intersection of Hwy 83 & Shary Road. Many new retail and entertainment centers are opening in the area to enhance the lifestyle. The neighborhood is in the Sharyland School District. For listings of available homes, please click:

Cimarron Country Club Homes For Sale

The Crossings - McAllen's Master Planned Community

Rene Galvan (RGV Realty) — Thu, 06 Sep 2007 21:58:44 -0500

This residential community developed by Brush Country Investments is one of the best in McAllen, Texas. The community has three sections, Falcon's Crossing, Dove Crossing and Quail Crossing. This neighborhood is within McAllen city limits with Edinburg schools. The elementary, Cavazos Elementary, was rated as Exemplary by the Texas Education Agency for 2007. The community is beautifully landscaped and will include a six acre City Park.

Home prices range from the $180's in Dove and Falcon's Crossings to the high $800's in Quail Crossing. Quail Crossing has a gated entrance with half-acre lots. Lots are still available to build your custom home. Lot prices start from the mid $90's.

To browse listings, click here: The Crossings Homes for Sale

Edinburg Homes for Sale with Exemplary Elementary School

Rene Galvan (RGV Realty) — Thu, 30 Aug 2007 21:35:46 -0500

A child's education is important. The Texas Education Agency administers an annual exam to rate individual school performance. The highest rating is "Exemplary". Congratulations to Edinburg for having eight campuses achieve the highest rating. Below are homes for sale in Edinburg, Texas that are within the school zones for a 2007 TEA Exemplary Elementary School.

McAllen Homes for Sale with Exemplary Elementary School

Rene Galvan (RGV Realty) — Thu, 30 Aug 2007 21:14:30 -0500

A child's education is always important. The Texas Education Agency administers an annual exam to rate individual school performance. The highest rating is "Exemplary". Congratulations to McAllen for having three campuses achieve the highest rating. Below are homes for sale in McAllen Texas that are within the school zones for a 2007 TEA Exemplary Elementary School.

Los Lagos Golf Club - Edinburg's Unofficial Country Club

Rene Galvan (RGV Realty) — Tue, 28 Aug 2007 20:39:03 -0500

Los Lagos Golf Club is a public 18-hole course operated by the City of Edinburg. The course opened in late 2000 and has become one of the best golfing communities in the Rio Grande Valley. The course was designed by the architectural firm of Hagge, Smelek, & Baril. Michael Smelek was elected to the American Society of Golf Course Architects (ASGCA) in 2005.

Los Lagos gets its name from the 11-acres of lakes in the course. The par 72 course features 7,188 yards of golf from the long tees. The clubhouse has 10,000 square feet and an open air pavilion that seats over 300. The facilities have hosted several local tournaments.

Surrounding the course is a variety of residential development including fairway lots. Los Lagos provides a Country Club environment without the Country Club price. The newest phase (IV) includes a private pool and community center. The primary builder has reduced their construction pace, which should help the resale market.

Builders continue to offer excellent deals on existing inventory. Many homes have unobstructed views of the course and lakes. For a complete list of available homes, please click here Los Lagos Homes for Sale.

Mission Texas - Citrus Fiesta / Sharyland

Rene Galvan (RGV Realty) — Mon, 27 Aug 2007 22:18:58 -0500

Mission earns its name from La Lomita Mission (The Little Hill), originally built in 1865 along the Brownsville - Roma Trail. (detailed history) The city is west of McAllen with a population of 54,619 (estimate 2003). The city is home to the Ruby Red grapefruit and a significant citrus industry. The city holds an annual celebration called the Texas Citrus Fiesta in January. Activities include the "Parade of Oranges", a pageant, a fun run and a fair in Market Square in Downtown Mission. It is great fun for the entire family.

Sharyland Plantation, one of the premier master-planned communities of South Texas is located in South Mission and encompasses thousands of acres. The community began in 1998 and now includes more than 1,300 homes ranging from $150,000 to over $1 million. The city has a second school district, Sharyland ISD, that serves portions of Mission, McAllen, Edinburg, Alton, and Palmhurst communities

Edinburg - Educational Leader

Rene Galvan (RGV Realty) — Mon, 27 Aug 2007 22:08:46 -0500

Edinburg is the county seat of Hidalgo County. The city is the home of the University of Texas Pan American, the state's 10th largest public university. Edinburg has been recognized three times as an "All America City" by the National Civic League, placing it among a handful of outstanding communities in the nation. As the educational leader of the region, the Edinburg school district ranked 2nd in the state with eight TEA exemplary elementary schools for 2007.

The city parks system includes the World Birding Center and a 90 acre municipal park with 6 softball/baseball fields, 3 soccer fields, numerous picnic tables and nature trails (including equestrian). Edinburg owns and operates three golf courses, including the Los Lagos Golf Club, a luxury 18-hole course with 11-acres of beautiful lakes.

McAllen - Great Place to Live!

Rene Galvan (RGV Realty) — Mon, 27 Aug 2007 21:53:06 -0500

McAllen is located at the very southern tip of Texas in an area known as the Rio Grande Valley. It is only five miles from the U.S.-Mexico border and is one of the fastest growing cities in the country. It has become the Valley's business, commerce and government leader. Numerous hospitals were constructed over the last few years resulting in McAllen also becoming the medical leader in the Valley. Retail is very strong in McAllen with a consumer base that reaches to Monterrey, Mexico. Many national retailers are located in McAllen at La Plaza Mall and in area shopping centers.

McAllen is also a town of tropical landscapes, numerous palms and vibrant cultural energy. Once you visit here, you'll know what all of the excitement is about. It's a beautiful place to live with friendly people to match.

It's no longer a secret that the Rio Grande Valley is a Great Place to Live. Relocation of both people and money are prevalent in almost every city in the Rio Grande Valley. About an hour from the Gulf Coast and only minutes to Mexico, there are many choices for fun.

Investors see the McAllen real estate market as undervalued. People realize that the Rio Grande Valley is an excellent place for relocation and to raise a family. Fortune ranked McAllen as the Best Place to Own Real Estate and Business 2.0 ranked it as No. 5 of the Top 10 cities: Where to Buy Now.

Plant a native tree!

Rene Galvan (RGV Realty) — Tue, 21 Aug 2007 16:36:02 -0500

When listing homes in older neighborhoods, every agent is quick to inform buyers that the property includes "mature shade trees". The shade provided creates a comfortable environment for outdoor activities especially in the South Texas heat. This extra outdoor "room" is a great selling point and may help the home sell faster.

These trees don't magically appear, they must be planted. Many new home builders clear the entire subdivision of all trees and only provide one small tree. It is important for the first homeowner to plant shade trees, preferably a native tree. The native trees can better handle the weather conditions and require less watering.

Some native trees for the Rio Grande Valley include Anaquas, Ebonies and of course Sabal Palms. Before ranching and agricultural development in South Texas, this entire region was a forest with these three predominant trees.

When it is time to sell your home, your curb appeal has improved and you'll have "mature shade trees".

Valley's Exemplary Schools

Rene Galvan (RGV Realty) — Mon, 20 Aug 2007 21:05:16 -0500

Congratulations to the Valley school districts for having fourteen campuses rated as Exemplary by the Texas Education Agency for 2007! Edinburg had more exemplary campuses than any other district in the valley with eight and was 2nd for the entire state. Exemplary is the highest rating assigned by the state agency. Of the fourteen elementary schools in the area, eight were in Edinburg, three in McAllen and three in Mission. This level of achievement demonstrates the commitment to education in South Texas.

The fourteen elementary schools and their websites are listed below. Thirty-nine other area schools also achieved "Recognized" status. "Exemplary" rating means that the campus had 90% or more of their students pass each subject of the TAKS. "Recognized" schools had greater than 75% of their students pass. For the complete 2007 rankings by district, click the district below:

Edinburg CISD, McAllen ISD, Mission CISD, and Sharyland ISD

Edinburg Schools

Austin Elementary	1023 E Kuhn St, Edinburg, TX 78540
Cavazos Elementary	1501 Freddy Gonzalez, McAllen, TX 78504
De la Vina Elementary	1001 South Jackson Road, Edinburg, TX 78539
Escandon Elementary	1100 E. Trenton Road, Edinburg, TX 78539
Hargill Elementary	4th & Wilson, Hargill, TX 78549
Jefferson Elementary	904 South 12th, Edinburg, TX 78539
Lincoln Elementary	1319 E. Lovett, Edinburg, TX 78541
Trevino Elementary	909 South MonMack, Edinburg, TX 78539

McAllen Schools

Houston Elementary	3221 Olga, McAllen, TX 78503
Milam Elementary	3800 N. Main, McAllen, TX 78501
Gonzalez Elementary	201 E. Martin Ave, McAllen, TX 78504

Mission Schools

Midkiff Elementary	4201 N Mayberry St., Palmhurst TX 78574
Mims Elementary	200 East Two Mile Rd, Mission TX 78574
Waitz Elementary	1201 Bryce Dr, Mission TX 78572