richmond: The Rick Martinez Weekly Report
- 03/12/10 09:20 AM
In real estate news the number of short sales has been going up. Short sale just means when an owner owes more on the home than it’s worth and the lender is willing to accept the difference between the sales price and the loan balance, thus allowing the homeowner and the lender to avoid the costly foreclosure process. INMAN news reported that nearly 16% of all sales last month were short sales. The unemployment numbers remain at 9.7% and the number of people filing for unemployment was down. The Fed Chairman Ben S. Bernanke told Congress that the Central … (0 comments)
richmond: Rick’s Weekly Real Estate Report
- 03/05/10 08:11 AM
The report that came out for January 2010 figures by Realty Trac indicates that overall foreclosure activity was down by about 10% from the previous month. Overall it is still above the 15% from that reported in January 2009. According to James Saccacio, CEO of Realty Trac, he indicated that he expects a similar pattern like last year where there will be a surge of foreclosures over the next few months as delinquent loans, modification programs and short sales continue to rise. The New York Times reports that the Obama Administration is under intense pressure to help millions of people in … (0 comments)
richmond: Could the Tax Credit be Extended Again?
- 02/22/10 07:47 AM
The pressure is increasing on Congress to renew the homebuyer tax credits for a third time. The first $7,500 tax credit was passed in 2008 and required first-time buyers to repay the credit over 15 years. A few months later in 2009, Congress expanded the credit to a maximum of $8,000 that didn’t have to be paid back. At the end of last year, Congress extended the benefit again until April 30 with an extra two months on top of that to close. A new credit of $6,500 was added for move-up buyers, too. Now representatives of the housing industry are … (6 comments)
richmond: Houston 2010 Forecast
- 02/19/10 07:15 AM
The Greater Houston Builders Association (GHBA) held its annual forecast luncheon last month. 2010 HAR Board Chair Margie Dorrance made introductory remarks at the January 11 event, saying that there’s reason to be optimistic about the Houston real estate market in 2010.The keynote speaker, housing analyst Mike Inselmann, president of Houston-based research firm Metrostudy, said Houston likely passed the low point in the housing cycle in the early months of 2009. Inselmann expects the industry to build 18,000 new homes in the Houston area in 2010, on par with 2009, but down from the market’s 2006 peak. Here are additional highlights of … (0 comments)
I just wanted to update everyone with some of the things we are doing to get increased exposure in the market place. We have been updating our websites and tweaking our exposure through the various networks and home property websites. With the introduction of Mari to our team, she has been painstakingly making changes and renovations to our sites and we are beginning to see positive results.
For example, our traffic on the popular real estate web site, Trulia, has increased over 500%. Our real estate traffic on Facebook … (1 comments)
richmond: Social Networking - A Whole New Market!
- 02/09/10 08:21 AM
If you happened to be one of the 106 million people who tuned into Super Bowl 44 this past Sunday, you might have noticed a bit of a difference in the commercial ads you saw between plays. Some of the usual giants, such as Pepsi, scaled back this year on their Super Bowl media campaigns, chosing to focus instead on a two-way social media campaign, promoting it's Pepsi Refresh initiative. Now, if you are like most Americans that live in houses, instead of under rocks, you would have noticed that these social network sites have been flooding into the lives of ordinary hard working … (0 comments)
richmond: Texas, Still the lowest affordable state for homeownership
- 01/12/10 01:21 AM
Texas continues to beat the rest of the U.S. in housing affordability, according to first-quarter statistics from the Real Estate Center at Texas A&M. The Center uses a Texas Housing Affordability Index (HAI) to compare the ability of a Texas median-income family to purchase a median-priced existing home in their area vs. consumers in other states. Where higher numbers are better, Texas had a ratio of 1.95 in first quarter 2009 compared with 1.55 nationwide. "Texas continues to maintain its place as the most affordable high-growth state in the country," says Jim Gaines, Ph.D., research economist. … (0 comments)
richmond: Recieve money for a home if your a first time buyer or a qualified repeat buyer
- 01/04/10 03:29 AM
In its efforts to stimulate the economy, Congress has enacted legislation extending a tax credit of up to $8,000 for first-time home buyers and offering up to $6,500 for qualified repeat buyers.Tax Credit at a Glance $8,000 First-time Home Buyer Tax Credit at a Glance The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase. The tax credit does not have to be repaid. The tax credit is equal to 10 percent of … (0 comments)
richmond: Choosing your Inspectors wisely!!
- 12/18/09 02:16 AM
Buying a home is one of the largest investments you will make, so you should be sure of its condition. A home inspection is an evaluation of a home's current condition by a trained expert. As a homebuyer, it is your responsibility to carefully select and pay for a qualified inspector. A home inspection is not an appraisal of the property's market value. During a home inspection, a qualified inspector takes an in-depth and impartial look at the property you plan to buy. The inspector will evaluate the current condition of the: Structural Systems (foundation, grading/drainage, roof covering, roof structure/attic, interior/exterior … (0 comments)
Prepare your home- you always want to have your house well prepared before even thingking of putting it on the market. If your home is not prepared than you will probably attract many buyers to your home. Set your home at the "Right Price"- you want to do research in your neighborhood and street to see how the other houses for sale are doing. You dont want to set a very high price in neighborhood with other homes for sale at a very low price. Good Advertisment- You want to … (0 comments)
richmond: Tips on getting your house READY TO SELL
- 12/11/09 02:46 AM
Disconnect your emotions make you house "Anonymous" The First Step- Remove all clutter The most important room in the house- make it attractive The rest of the house- keep it neutral Fixing up the house interior- make sure everything is changeable Cost of repairs- its all worth the money you'll make selling the house Plumbing and fixtures- make sure they all work Carpets and flooring-the cleaner the better Windows and doors-make sure they all shut Fixing up the outside of the house- once again must be eye catching Landscaping- nice clean cut grass keeps people interested Is painting required?- If … (0 comments)
richmond: Tips on getting your house READY TO SELL
- 12/11/09 02:46 AM
Disconnect your emotions make you house "Anonymous" The First Step- Remove all clutter The most important room in the house- make it attractive The rest of the house- keep it neutral Fixing up the house interior- make sure everything is changeable Cost of repairs- its all worth the money you'll make selling the house Plumbing and fixtures- make sure they all work Carpets and flooring-the cleaner the better Windows and doors-make sure they all shut Fixing up the outside of the house- once again must be eye catching Landscaping- nice clean cut grass keeps people interested Is painting required?- If … (1 comments)
richmond: Avoid Bankruptcy & Find "The Right Place"
- 12/08/09 01:04 AM
As reports of economic recovery increase, financial experts are quick to discount rising bankruptcies as expected delayed reactions and expected casualties. To those directly and indirectly involved in a bankruptcy, "How did this happen?" is a common reaction to the unexpected nightmare of financial collapse. Bankruptcy is not an automatic sign of poor business judgement or weak money-management skills although both can contribute to financial problems. Factory shutdowns, shifting consumer trends, fraud, unscrupulous marketing tactics and client insolvency are just a few of the ‘wrong time' or ‘wrong place' happenings that can drive a business or a family into a financial … (0 comments)
richmond: Tips for Selling Your Home
- 12/03/09 03:33 AM
Set your price carefully Too high and buyers may not consider it, too low and you're selling yourself short. Realtors often give a free home market analysis if you ask. This gives you an idea of how your home compares financially with similar, recently sold homes in your area. The analysis may also include how much you might expect to earn after closing.
Don't do major remodeling Don't break the bank preparing your home for sale. Pricey items such as a new roof may be big hits with buyers, but rarely does the buying price end up covering the payout … (2 comments)
richmond: Market Trends
- 07/21/09 05:13 AM
According to Realty Trac, we hit another record high in foreclosure in the first quarter of 2009. The figures are up 24% from the same quarter of 2008. In addition, notes of default, sales and bank repossessions were over 800,000 in the first quarter. This means that one in every 159 U.S. housing units received a notice of foreclosure filling. These reports are at the highest levels since Realty Trac started first reporting figures in January 2005. The upside of the bad news is that demand is up in some hard-hit areas where investors and first-time buyers are seeing bargains. The … (0 comments)
richmond: Update on the Real Estate Market in Katy and West Houston Texas
- 05/08/09 07:10 AM
Well school is almost over and the Real Estate activity has been a little more active. The economic forecast for Houston is that it is not starting to see more job losses. Currently it is expected that Houston and surrounding areas will lose over 60,000 jobs by the end of this year. Among this bad news, Bernake the Fed chair is being optimistic in his forecast. He believes the economy could be slowly turning around, but also warns that still more people will lose jobs. At the annual Real Estate symposium given by local economist, Barton Smith, he states that he … (0 comments)
richmond: Single-family home prices reach highest levels of 2009
- 05/08/09 06:58 AM
Declines in the sales and pricing of homes throughout the greater Houston area eased in March, matching a trend that the Federal Reserve noted in several markets around the country in its Beige Book survey released last week. Overall March property sales fell 18.9 percent and sales of single-family homes dropped 16.1 percent versus March 2008, according to new monthly data prepared by the Houston Association of REALTOR® (HAR). However, from February to March of this year, overall property sales volume increased 26.1 percent while sales of single-family home rose 27.8 percent as we enter the spring and summer seasons, a … (0 comments)
richmond: This is just a different kind of market...
- 04/07/09 05:58 AM
We have noticed that many sellers are being picky with their buyers. As agents and homeowners, we understand that you want to get the best price possible for your home. But if you NEED to sell right now, this is a buyer's market. I've seen many sellers lose offers on their homes over small amounts of money for closing costs or repairs. Although I try to explain to my sellers that at this point $2,000 for repairs is really not a big loss, they are a bit stubborn in sticking with their preferred selling price. I understand sticking with your … (0 comments)
richmond: Tips to improve the value of your home
- 04/03/09 07:41 AM
You've decided to move, but the housing market is more competitive than ever. To get an edge on your competition, it's important to make your home as appealing as possible so that you can sell it quickly and at its maximum value. One of the leading manufacturers and distributors of premium residential and commercial siding, provides the following tips to increase the resale value of your home:* Give it curb appeal. A home's exterior is one of the most important selling points. During the warmer seasons, have colorful flowers and potted plants adorn your yard and entryways. Repaint your front door … (0 comments)
richmond: Tips to Prepare Your Home for Sale
- 04/02/09 09:01 AM
Prepping and staging a house. Every seller wants her home to sell fast and bring top dollar. Does that sound good to you? Well, it's not luck that makes that happen. It's careful planning and knowing how to professionally spruce up your home that will send home buyers scurrying for their checkbooks. Here is how to prep a house and turn it into an irresistible and marketable home. Here's How: Disassociate Yourself With Your Home. Say to yourself, "This is not my home; it is a house -- a product to be sold much like a box of cereal on … (0 comments)
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