Feb. 26, 2007 - How long does it take to sell a home?

How long does it take to sell a home?

There is no easy answer – some homes sell in a few days, others may take several months. 

Recognizing the key factors influencing a sale can give you significant control over market time.

The proper balance of these factors will expedite your sale:

LOCATION…

n        Location is the single greatest factor affecting value.

n        Neighborhood desirability is fundamental to a property’s fair market value.

COMPETITION…

n        Buyers compare your property against competing properties.

n        Buyers interpret value based on available properties.

TIMING…

n        The real estate market may reflect a seller’s market or a buyer’s market.

n        Market conditions cannot be manipulated; an individually tailored marketing plan must be developed accordingly.

CONDITION…

n        Property condition affects price and speed of sale.

n        Optimizing physical appearances and advance preparation for marketing maximizes value.

TERMS…

n        The more flexible the financing, the broader the market, the quicker the sale and the higher the price.

n        Terms structured to meet your objectives are important to successful marketing.

PRICE…

n        If the property is not properly priced, a sale may be delayed or even prevented.

Feb. 11, 2007 - Glossary of Real Estate Brokerage Relationships

IN TEXAS,

Real Estate brokers and their salespersons are required to disclose the type of working relationship they have with the buyers in a real estate transaction. There are several types of relationships that are available to you. You should understand these at the time a broker provides specific assistance to you in buying real estate. Buyer’s Agent and Seller’s Agent relationships are commonly referred to as “agency” relationships and carry with them legal duties and responsibilities for the broker as well as for the buyer and seller.

BUYER’S AGENT

A Buyer’s Agent acts solely on behalf of the buyer and owes duties to the buyer, which includes the utmost good faith, loyalty, and fidelity. The agent will negotiate on behalf of, and act as an advocate for; the buyer. The buyer is legally responsible for the actions of the agent when that agent is acting within the scope of the agency. The agent must disclose to sellers all adverse material facts concerning the buyer’s financial ability to perform the terms of the transaction and whether the buyer intends to occupy the property. A separate written buyer’s agreement is required which sets forth the duties and obligations of the parties.

SELLER’S AGENTA

Seller’s Agent acts solely on behalf of the seller and owes duties to the seller, which includes the utmost good faith, loyalty, and fidelity. The agent will negotiate on behalf of, and act as an advocate for; the seller. The seller is legally responsible for the actions of the agent when that agent is acting within the scope of the agency. The agent must disclose to buyers or tenants all adverse material facts about the property known by the broker. A separate written listing agreement is required which sets forth the duties and obligations of the parties.

Feb. 7, 2007 - Municipal Utility Districts (MUD)

When we moved here 10 years ago from another state we had never heard of a MUD district.  If you live in the Houston area long it doesn’t take long to get acquainted with municipal utility districts.  A Municipal Utility District (MUD) is a political entity created under Texas State law, specifically, Chapter 54 of the Texas Water Code.  Since most of our subdivisions in Northwest Harris County and Southeast Montgomery County are in an unincorporated part of the county we typically get our water through MUD districts.  A MUD is similar to a small town however the MUD is limited to providing water, sewage, drainage and a few other services within the MUD boundaries. 

How does a MUD work? 

The Board of Directors is publicly elected and they control all the affairs of the MUD.  The MUD is subject to the Texas Commission of Environmental Quality.  As a public servant the board establishes policies in the interest of its constituents.  A MUD may adopt and enforce all charges, fees and taxes to provide the district facilities and services.

How will I be taxed?

MUD tax rates vary according to property values and debt requirements.  MUD rates generally decline as the MUD area is built out.  I have found a large difference in MUD rates.  I have seen them as low as .25 per 100 house value and as high as $2.00 per 100 house value.  Typically the newer subdivisions are going to have a little higher MUD tax as they have not had the time to build out.  As the subdivision gets more established the tax starts coming down.  I have come to the conclusion that having a little higher MUD tax is part of the cost associated with being in a newer area.

Is there any way around being in a MUD?

You could buy out in the country and be on your own well and septic.  Another option would be to buy in a country subdivision that has community water and then have your own septic.  However then you have to deal with well and septic issues.  I have also learned recently that the community water fee is usually higher than the water charge in a MUD but the good news is there is no MUD tax with this option.  The other option is to buy in a town but then you have an extra city tax.  I guess long story short you have to pay for your water somehow, whether through a MUD, community water or well & septic.

Feb. 4, 2007 - FREE 411 INFORMATION CALLS