If the latest technology and entertainment options are important in your new home, add the following questions to your buyer’s checklist.  This is interesting information I got from the REALTOR Magazine Online and reprinted with permission of the National Association of REALTORS.  Visit the Consumer Electronics Association ( http://www.ce.org/techhomerating ) for a complete Tech Home Rating Checklist.

1.  Are there enough jacks in every room for cable TV and high-speed Internet hookups?  Does it include U-Verse if that’s important to your family?

2.  Are there enough telephone extensions or jacks?  Most people use their cell phones these days, but some still want a phone in every room, including the bathrooms.

3.  Is the home prewired for a home theater or multi-room audio and video?

4.  Does the home have a local area network for linking computers?

5.  Does the home already have wiring for DSL or other high-speed Internet connection?

6.  Does the home have multi-room lighting controls, window-covering controls, or other home automation features?

7.  Does the home have multi-room lighting controls, window-covering controls, or other home automation features?

8.  Is the home wired with multi-purpose in-wall wiring that allows for reconfigurations to update services as technology changes?

"How High Tech Is Your Home?" was originally posted as a blog post at Shannon Register Real Estate Team on July 2, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

When you start looking for a home, you first need a pre-approval for a mortgage.  Below is a list of things your lender is going to need to process your loan.  They may ask for additional items, but this is a list to get you started.  Make sure you get these items to your lender in a timely manner your home purchase moving along.  This way, you will be able to close when you have planned to close on your new home.

10.  Previous addresses where you have lived over the past 5-7 years.

9.  Payments you are currently making; a list of current lenders and revolving creditors with account numbers.

8.  Credit card numbers with amounts you owe on each credit card.

7.  Verification of all income, including child support and part time jobs.

6.  Documentation on all retirement accounts, like a 401K.

5.  Asset list.  Things on this list would include boats, cars, collectibles, RV, etc.  Also include brokerage account statements for stocks and bonds.

4.  Two to three years of tax returns.

3.  Checking and savings account statements for banks and credit unions.

2.  Current pay stubs.

1.  W-2′s.

"Top 10 List of Things Your Lender Will Need" was originally posted as a blog post at Shannon Register Real Estate Team on June 13, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

The following information is reprinted from REALTOR Magazine Online by permission of the National Association of REALTORS – copyright 2005 – all rights reserved.

Condominiums and townhouses offer an affordable option to single-family homes in most areas, but consider these facts before you buy.

1.  Storage.  Some condos have storage lockers, but usually there are no attics or basements to store belongings.

2.  Outdoor space.  Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit.  However, if you hate yard work, this may be the perfect option for you.

3.  Amenities.  Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home. 

4.  Maintenance.  Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in owrkers when you’re not home.

5.  Security.  Many condos have keyed entries and or even door attendants.  Plus, you’ll be closer to other people in case of an emergency.

6.  Reserve funds and association fees.  Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees agreed to by the condo board, whether or not you’re interested in the amenity or not.

7.  Resale.  The ease of selling your unit is more dependent on what else is for sale in your building, since units are usually fairly similar.  Single-family homes usually are more individual.

8.  Freedom.  Although you have a vote, the rules of the condo association can affect your ability to use your property.  For example, some condos prohibit home-based businesses.  Others prohibit pets.  Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer.

9.  Proximity.  You’re much closer to your neighbors, in a condo or town home.  If possible, try to meet your closest prospective neighbors before making a decision.

"The Pros & Cons of Condos" was originally posted as a blog post at Shannon Register Real Estate Team on May 4, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

1.  What are your qualifications?  Are you a member of the American Association of Home Inspectors?

2.  Do you have a current license?  Inspectors are not required to be licensed in every state.

3.  How many inspections of properties such as this do you do each year?

4.  Do you have a list of past clients I can contact?

5.  Do you carry professional errors and omission insurance?  May I have a copy of the policy?

6.  Do you provide any guarantees of your work?

7.  What specifically will the inspection cover?

8.  What type of report will I receive after the inspection?

9.  How long will the inspection take and how long will it take to receive the report?

10.  How much will the inspection cost?

Portions adapted from Real Estate Checklists and Systems and used with permission ( http://www.realestatechecklists.com ).  Reprinted from REALTOR Magazine Online by permission of the National Association of REALTORS.  Copyright 2005.  All rights reserved.

"Top 10 Questions to Ask Your Home Inspector" was originally posted as a blog post at Shannon Register Real Estate Team on April 25, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

Don’t be fooled, take advantage of the $8,000 tax credit before it goes away.  It ends at the end of this month.  It’s the best gift Uncle Sam will ever give you!  If you would like to sell your home and buy another home, you may be eligible for the $6,500 tax credit.  Give me a call today so we can get you qualified for your tax credit.  I am not fooling around, these tax credits are a great deal!

"April Fools Day!" was originally posted as a blog post at Shannon Register Real Estate Team on April 1, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

1.  Get estimates from a reliable repair person on items that need to be replaced soon, such as a roof or worn carpeting, for example.  In this way, buyers will have a better sense of how much these needed repairs will affect their costs.

2.  Have a termite inspection to prove to buyers that the property is not infested.

3.  Get a pre-sale home inspection so you’ll be able to make repairs before buyers become concerned and cancel a contract.

4.  Gather together warranties and guarantees on teh furnace, appliances, and other items that will remain with the house.

5.  Fill out a disclosure form provided by your sales associate.  Take the time to be sure that you don’t forget problems, however minor, that might create liability for you after the sale.

Reprinted from REALTOR Magazine Online by permission of the National Association of REALTORS.  Copyright 2005.  All right reserved.

"5 Things to Do Before You Sell" was originally posted as a blog post at Shannon Register Real Estate Team on March 28, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

I have written blog posts in the past that address what to look for in an inspection report. However, I have questions about this arise with every buyer. Therefore, I am writing about it again. It’s useful information that buyer’s need to have!

• Siding – look for dents or buckling
• Foundations – look for cracks or water seepage
• Exterior Brick – look for cracked bricks or mortar pulling away from bricks
• Insulation – look for condition, adequate rating for climate
• Doors and windows – look for loose or tight fits, condition of locks, condition of weather stripping
• Roof – look for age, conditions of flashing, pooling water, buckled shingles, or loose gutters and downspouts
• Ceilings, walls, and moldings – look for loose pieces, drywall that is pulling away
• Porch/Deck – loose railings or step, rot
• Electrical – look for condition of fuse box/circuit breakers, number of outlets in each room
• Plumbing – look for poor water pressure, banging pipes, rust spots or corrosion that indicate leaks, sufficient insulation
• Water heater – look for age, size adequate for house, speed of recovery, energy rating
• Furnace/Air Conditioning – look for age, energy rating; Furnaces are rated by annual fuel utilization efficiency; the higher the rating, the lower your fuel costs. However, other factors such as payback period and other operating costs, such as electricity to operated motors.
• Garage – look for exterior in good repair; condition of floor-cracks, stains, etc.; condition of door mechanism
• Basement – look for water leakage, musty smell
• Attic – look for adequate ventilation, water leaks from roof
• Septic Tanks (if applicable) – adequate absorption field capacity for the percolation rate in your area and the size of your family
• Driveways/Sidewalks – look for cracks, heaving pavement, crumbling near edges, stains

Reprinted from Realtor Magazine Online by permission of the National Association of Realtors, Copyright 2005, All rights reserved.

"What Should A Home Inspection Cover?" was originally posted as a blog post at Shannon Register Real Estate Team on March 27, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

March has been rodeo time here in Houston and there has been a great round-up of performers in our big city. Many people don’t know that the rodeo takes a great deal of volunteers to keep it running smoothly. There are people from all walks of life who work to make the process an enjoyable one for all who attend.

Real estate is not a whole lot different. If you are buying or selling a home, you want to make sure that you round-up the best team to work on your behalf. Trusting your agent and your team to provide you with the latest information and tools for your process is key. In this business, we have the opportunity to work with many wonderful professional people from inspectors, to loan officers, to appraisers, to title companies. It must all come together like a well oiled machine so that there are as few glitches as possible.

The Shannon Register Real Estate Team at RE/MAX Integrity is dedicated to rounding up the best possible professionals for your buying and selling process. We care about the smallest details. We refer you to the professional associates in our business who have a proven track record of hard work and the same level of integrity that we maintain. If you are looking to buy or sell, let us do the hard work of rounding up all the right people to work on your behalf! You’ll be so glad you did!!

"Round It Up!" was originally posted as a blog post at Shannon Register Real Estate Team on March 27, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

GALVESTON (Galveston County Daily News) – City council members yesterday released $25 million in federal disaster recover funding to begin the plan to rebuild 569 units of hurricane-damaged public housing.
The Galveston Housing Authority will use the money not only to rebuild the units, but also to leverage support for federal Hope VI grants to revitalize entire neighborhoods on the island.
The housing authority must rebuild 569 rental units of public housing, not homeownership units, according to an agreement with advocacy group Lone Star Legal Aid.
The first round of federal funding must be spent by September 2011, two years after the council approved the plan for spending the money.
Council members also approved conceptual plans for rebuilding three of the four public housing developments. These include Oleander Homes, Cedar Terrace and Magnolia Homes.
The housing authority will begin searching for architects for these developments as it draws up plans, which will then be sent to the planning commission to make a recommendation to the council for final approval.

"Funding Approved for Island’s Damaged Public Housing" was originally posted as a blog post at Shannon Register Real Estate Team on March 1, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

The neighborhood you choose can have a big impact on your lifestyle – safety, available amenities, and convenience all play their part.

1.  Make a list of the activities – movies, health club, church – you engage in regularly and stores you visit frequently.  See how far you would have to travel from each neighborhood you’re considering to engaging in your most common activities.

2.  Check out the school district.  The Department of Education in your town can probably provide information on test scores, class size, percentage of students, who attend college, and special enrichment programs.  If you have school-age children, also consider paying a visit to schools in the neighborhoods you’re considering.  ven if you don’t have children, a house in a good school district will be easier to sell in the future.

3.  Find out if the neighborhood is safe.  Ask the police department for neighborhood crime statistics.  Consider not only the number of crimes but also the type-burglaries, armed robberies-and the trend of increasing or  decreasing crime.  Also, is crime centered in only one part of the neighborhood, such as near a retail area?

4.  Determine if the neighborhood is economically stable.  Check with your local city economic development office to see if income and property values in teh neighborhood are stable or rising.  What is the percentage of homes to apartments?  Apartments don’t necessarily diminish value, buyt they do mean a more transient population.  Do you see vacant businesses or homes that have been for sale for months?

5.  See if you’ll make money.  Ask a local REALOR or call the local REALTOR association to get information about price appreciation trends in the neighborhood.  Although past performance is no guarantee of future results, this information may give you a sense of how good an investment your home will be.  A REALOTR or the goveernment planning agency also may be able to tell you about planned developments or other changes in the neighborhood – like a new school or highway – wthat might affect value.

6.  See for yourself.  Once you’ve narrowed your focus on tow or three neighborhoods, go there, and walk around.  Are homes tify and well maintained?  Are streets quiet?  Pick a warm day if you can and chat with people working or playing outside.  Are they friendly?  Are their children to play with your family?

Reprinted from REALTOR Magazine Online by permission of the National association of REALTORS.  Copyright 2005.  All rights reserved.  http://www.REALTOR,org/realtormag.

"Tips for Finding the Perfect Neighborhood" was originally posted as a blog post at Shannon Register Real Estate Team on February 25, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

NEW YORK (McGraw-Hill) – The value of Texas construction starts will advance 16 percent to $52.5 billion this year, according to the 2010 Texas Construction Outlook from McGraw-Hill Construction.

Growth is expected for each of Texas’ major metropolitan areas: Austin is expected to climb 30 percent, Houston 17 percent, Dallas 16 percent, El Paso 8 percent, and San Antonio 6 percent.

Other highlights from the report:

• Housing starts in Texas are expected to advance 31 percent to $21.8 billion in 2010, with single-family housing growing 31 percent and multifamily housing gaining 34 percent.
• Nonresidential construction starts will slip 1 percent to $17.6 billion, suffering from declines in commercial and industrial starts.
• Federal stimulus funding will assist public works and utilities construction as starts rebound 21 percent to $13.1 billion in 2010.

"2010 Texas Construction Outlook Upbeat" was originally posted as a blog post at Shannon Register Real Estate Team on February 14, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

HOUSTON (Houston Chronicle) – The Architecture Building Index remained negative in December as developers continued to struggle to attain financing.  The national index, an economic indicator of construction activity, rose slightly from 42.8 in November to 43.4 in December.  The index reflects the approximate nine- to 12-month time between architecture billings and construction spending.  Any score above 50 signifies an increase in billings.

"Construction Outlook Negative" was originally posted as a blog post at Shannon Register Real Estate Team on February 12, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

So you’ve accepted your new job and have moved on to your new life in a different city.

The only problem is that your previous house hasn’t sold yet and now you’re faced with the prospect of selling a vacant house—a sure way to look desperate, lose money, and ensure the place languishes on the market, right? Not necessarily. There are steps you can take to make your house more appealing and marketable, even though it’s—gasp—unoccupied.

Vacant or not, the curb appeal of your house is important. Since your house is uninhabited, it’s important to make sure that the lawn is mowed, the newspaper has been cancelled, and your mail has been forwarded. Invest in some motion-activated lights for the outside. Also you may want to have a neighbor park in the driveway, if possible.

When talking about the inside of the home, keep some furniture and lamps. It seems counter-intuitive, but an empty house looks smaller than a home with a few pieces about. Additionally, when a house is totally vacant, minor defects, like a stain on the carpet or a scratch on the wood floor, tend to stick out a bit more.

Also, remember that it’s very important to keep the utilities turned on—buyers don’t like walking into a sauna in the summer or an icebox in the winter. Plus, frequent dramatic temperature and moisture changes are not good for the structure’s integrity.

Unfortunately, sometimes vacant houses can attract vandals and thieves. If you’ve got a security system, make sure it’s set, but leave your code with your Texas REALTOR®. You also want to make sure the house has the appearance of occupancy—some timers for lamps you’ve left behind are a good idea.

Some folks will even hire professional home sitters, who will rent your home for a nominal fee, furnish it with their own stuff, pay utilities, and are obligated to maintain the home in showing condition.

Finally, realize that it may be hard to insure a vacant house, so review your policy and speak with your agent to evaluate your coverage needs.

This information was provided on the Texas Association of Realtors® website.

"Selling a Vacant House" was originally posted as a blog post at Shannon Register Real Estate Team on February 10, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

  DALLAS (Dallas Morning News) – Area home prices were positive in November for the first time since September 2007, according to Standard & Poor’s Case-Shiller Home Price Index, released today.

 Dallas area residential values increased 1.4 percent in November from one year earlier, which was the best performance of the 20 cities tracked in the monthly survey.

 However, Dallas home prices fell 0.6 percent in November 2009 from October, according to Case-Shiller. Home values bottomed out in the index in March 2009 when prices were down 5.6 percent.

 Prices declined 5.3 percent for all cities from a year ago.

 Case-Shiller tracks the prices of typical single-family homes, excluding condominiums and townhouses, comparing sales of specific properties over time.

"DALLAS HOME VALUES INCREASE" was originally posted as a blog post at Shannon Register Real Estate Team on January 30, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

By:  Joanne O’Donnell

Today’s market requires a more sophisticated approach to preparing a home to sell.  Staging broadens the appeal of a home by accentuating selling features, promoting flow, maximizing space, and neutralizing color and decor.  All of these staging efforts should be done with the goal of quickly securing favorable offers from a greater pool of buyers.

A big difference

Don’t confuse staging with decorating or interior design.  There are similarities, of course: all of these specialties use color, design, scale, and other elements.  However, where interior design caters to likes and dislikes, life choices, and personal style, staging is about neutralizing a home and accentuating the selling features so a wide variety of would be owners can emotionally connect with it. 

In other words, staging is essentially a marketing tool for selling a house. 

Style that is too personal or specific to a particular homeowner or type of homeowner can limit the pool of potential buyers.  When the home remains too personal, buyers often can feel like they are intruding.  They may even have difficulty separating the property from the personality of the owners or decor of the property. 

Here are some practical staging tips to consider.

Cool statements – make them safe, not boring

Neutral colors come to mind, and rightly so.  But, remember, you can go too far with beige.  Sophisticated taupes, rich tans, soft moss greens, and warm creamy yellows can create a welcoming ambiance without making a strong design statement that may eliminate prospective buyers.

Gender neutral – aim for the middle of the road

Homes and rooms should not be so gender-specific as to make half the population uncomfortable.  For instance, if it’s obvious your seller loves pink, recommend she minimize it; combine it with charcoal grey or black and limit to a bathroom or a child’s room.  Relegate lace to the baby’s or little girl’s room, and replace flowery fabric with leaves or geometric or abstract patterns. 

And it’s not just the feminine touches that need to be addressed.  This works both ways.  Re-purpose trophy  rooms, take down the motorcycle and car calendars from the garage, and turn that poker palace back into the wholesome family room the builder intended (and most buyers want.)

Religion – this isn’t the time to display faith

Religion is very personal and, for that reason, should remain out of a home on the market.  This can be a touchy subject, so handle with care; you don’t want to offend.  It can be especially awkward if you don’t share the same belief system as the homeowners. 

Encourage your sellers to remove anything that strongly conveys their specific beliefs.  Remember, it is about selling the home, and the decor needs to be something of a blank slate on which the buyer can superimpose his own life.

Culture and ethnicity – play it down, but not out

Given the multicultural, muti-ethnic nature of our society, styles from around the world have been incorporated into home decor.  Diverse elements don’t have to be eliminated, but they should be used sparingly so that the home doesn’t feel specific to any one ethnicity or culture.

Politics – keep away

Remove anything that projects political convictions.  Buyers who have different beliefs may find themselves thinking about the owners and their politics instead of the features of the house.  They may also wonder if the rest of the neighborhood is of the same political persuasion as the homeowners and whether they would fit in.

Generational Style – avoid extremes, stereotypes

Stage for the targeted buyer while remembering that style spans generations, cultures, geography, etc. Someone over 50 doesn’t necessarily want heavy, ornate furniture any more than everyone under 30 wants glass and chrome.  They rule of thumb is to bring it to the middle with contemporary style; that way, a few accessory changes could satisfy the modern as well as the classic.

There are types of properties where it’s OK to go more in one direction than the other- an urban loft, for instance- but in general, move generational the toward the center.

Collections – pick it up, pack it away

Ah, the bane of stagers’ existences.  People love their collections and want to display them.  To many homeowners, these collections are status symbols and elicit strong emotions.  The classic example is a doll collection that covers every surface of a formal living room; note that this type of collection also holds an esteemed place in the gender-specific category hall of fame. 

Regardless of what the collection is, even if it is the most valuable, beautiful collection imaginable, it will take the buyer’s attention from the selling features of the home.  Combine that with the possibility of theft and breakage, and you should have your sellers getting out the bubble wrap in no time flat.

Stage Right

Here’s an industry truism: Almost every home, regardless of piece or location, can benefit from from some professional staging.  Effective staging is a marketing tool and a learned skill-one well-worth having in your arsenal.

"Don’t Confuse Staging with Decorating or Interior Design" was originally posted as a blog post at Shannon Register Real Estate Team on January 28, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

I am always on the go, but need access to the Houston Database of homes for sale.  So I created an iPhone App that allows my clients and I to search the Houston MLS from our iPhones.  In it you can see the latest available listings, news, and information right on your iPhone. This app features several useful tools including mortgage calculators, house locators, and ways to communicate real time with me as you see a home for sale you like. 

You can download this app HERE or search for “Shannon Register” or “Houston real estate” in the iPhone App Store.

"FREE Realtor iPhone App" was originally posted as a blog post at Shannon Register Real Estate Team on January 27, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

How important is it that you have a good lender when you are buying a home?  Very important!  Why?  Because if you do not close on the date that has been written in as the closing date on the contract, you could lose the home of your dreams.  So what happens if you don’t close on time?  Well, usually the seller will agree to extend the closing, but in return you must release atleast part of your earnest money to them.  So if your lender falls through, you won’t get all your earnest money back.  What else could happen?  Your seller could take a backup offer and you’d lose the property.  Your seller might require more option money to keep the property off the market for you.  But needless to say, your seller is not going to be happy about extending the closing.  That is why it is so important to get a good mortgage lender.  I know several that I work with on a regular basis and can refer you to.  Don’t get stuck on closing day, get closed!  Work with a reputable lender who will close you on time to avoid head aches.

"What happens if you don’t close on time?" was originally posted as a blog post at Shannon Register Real Estate Team on January 19, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2010 | Shannon Register Real Estate Team

Did you know you may be entitled to a homestead exemption (discount) on your property taxes?  There are several types of exemptions in Texas.  The homestead exemption is the most common.  After purchasing a home, you should contact the County Appraisal District and ask for the forms to complete for the homestead exemption.  If I represented you on a real estate purchase in the last year, then I will send you a form to remind you to file for your homestead exemption.  Most title companies give you the forms you will need at closing, but you have to remember to file for the exemption.  The “over 65″ exemption is good if one of the recorded owners of the property is 65 years old or older.  The disability exemption is based upon a legal disability and typically corresponds to the percentage of the declared disability .  Exemptions are granted using specific guidelines establised in the law.  To qualify for an exemption, it is the homeowner’s responsibility to file for the exemption through the Appraisal District.

"Did you file your Homestead Exemption?" was originally posted as a blog post at Shannon Register Real Estate Team on December 29, 2009.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2009 | Shannon Register Real Estate Team

If you have been wondering about the value of your home, I have a great tool for you on my website.  It’s a market snapshot.  If you would like to see what your neighbor’s home sold for, look no further.  From the front page of my website you can use the market value widget.  Type in your name, home address, and email and some information about your home and it will send the market snapshot directly to your inbox.  This is a great tool to use when you are wondering about the tax value of your home, too.  Many of my clients use this tool during tax season to get comparables to their own homes.  I am always trying to help my clients conveniently access information for their housing needs at their finger tips.  I hope this widget helps you!

"What is my home value?" was originally posted as a blog post at Shannon Register Real Estate Team on December 15, 2009.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2009 | Shannon Register Real Estate Team

1.  In general, a foreclosure property should be at least 20% lower than similar homes in the area.   

2.  Buying a foreclosure at auction is risky.  The home could have liens, be in poor condition, or have other legal headaches attached.  Buying bank-held or HUD foreclosure properties is safer. 

3.  Do your homework!  Rumors of bargain prices have attracted buyers to the foreclosure market, but it’s not always a good deal.  Sometimes multiple bids on a property drive up the price making it less of a bargain. 

4.  There are a lot of un-reputable websites that promote foreclosures.  A good website to use is RealtyTrac.com.  You can also search the entire Houston MLS Database at BuyandSellwithShannon.com/Buy

5.  Work with an experienced Realtor (like me!) that has access to foreclosure data through the Multiple Listing Service.  Impulsive or uneducated buyers can get taken advantage of and acquire a home with many problems.

6.  Make sure you have the home inspected during your option period.  If the bank will not allow an option period, get it inspected before putting in an offer.  Your inspector will be able to spot water, pest, and structural problems.  If the inspector recommends it, hire an HVAC professional to check out the heating and air conditioning system. 

7.  If there are repairs that need to be made you should get estimates for repair costs before getting locked into a contract on the home.

8.  Get a Pre-Approval before house hunting, as the bank will require that with your offer.

"8 Tips for Buying Foreclosure Properties" was originally posted as a blog post at Shannon Register Real Estate Team on December 9, 2009.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2009 | Shannon Register Real Estate Team

NEW YORK (Forbes.com) – Texas’ four major metros are in the top ten fastest-recovering cities nationwide, according to Forbes magazine.

Forbes ranked San Antonio the second fastest recovering city in the country, Austin the third, Dallas–Fort Worth–Arlington the sixth and Houston–Sugar Land–Baytown the eighth.

The magazine attributed their relatively quick recovery to San Antonio’s and Austin’s high number of municipal jobs, Dallas’ thriving technology industry and Houston’s energy sector, as well as the state housing market’s ability to remain stable while other states’ markets crashed.

“Texas didn’t have as big of a boom,” said Dr. Jim Gaines, research economist at the Real Estate Center at Texas A&M University. “So we’re not having anywhere near the kind of bust.”

El Paso and McAllen-Edinburg-Mission were also placed within the 100 fastest-growing MSAs, ranking 43rd and 48th, respectively.

Forbes ranked the country’s 100 largest MSAs according to each area’s September unemployment rate and foreclosures, gross metropolitan product, home prices and sales rates.

"Texas Bound for Fast Recovery?" was originally posted as a blog post at Shannon Register Real Estate Team on December 6, 2009.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2009 | Shannon Register Real Estate Team

There is a formula to selling in this market:  Passion + Technology = SOLD.  It is working for my sellers.  Allow me to elaborate.

First, the house must be findable and appealing online because that is where 87% of the buyers start their home search.  This is essential to maximizing the value of your home in a timely manner.  It is not enough to simply add your home into the Multiple Listing Service. It is no longer enough to simply have “curb appeal,”  it must have “google appeal” as well and be search engine optimized and key word search-able for the scarce qualified buyer to find your home.  Professional quality pictures and video tours help turn visitors on the web pages into offers on your home.  As a Social Media Pro and ePro Realtor, I have geared my training to help me improve my web marketing and website to showcase listings with photos, videos, and information about the property that is trickled out to over 40 websites.  Social networking sites like Facebook, Twitter, YouTube, and LinkedIn also add to the listing’s “web footprint” and increase the odds of the right qualified buyer finding it.  I don’t leave the sale of your home to chance, I put it in front of buyers as well as the Realtors in the North West Houston area via e-fliers. 

Bottom line – my online marketing is proven to sell houses. I offer online home tours via videos and comprehensive real estate news and data and distribute this information through multiple channels. I am committed to cutting edge technology that improves your bottom line in real estate transactions.

Relocating to the area? With the tools for your research on my website, you can make a decision on a home without traveling or with a few days visit. I have recognized and responded to today’s consumer by staying on top of the market and the internet technology that ensures their home stands out from the crowd in any market. That’s why I can honestly tell my clients that Passion + Technology = SOLD.

Second, Passionate about Real Estate.  One of the ways I chose to drive traffic to my website is by writing my blog.  I have been awarded “The Best Real Estate Blog in Texas” according to The Mays Business School and Real Estate Research Center at Texas A&M University. 

To sell in this market, you must have a Realtor that knows the market and knows that in a down market, marketing and packaging matters.  Don’t let my use of technology intimidate you if you’re not a social media bug, just use it to sell your home.  I continue to use the traditional Realtor marketing techniques as well.  My marketing plan is proven to work even in a down market.  If you need to sell your home, call me for the help it is going to require to sell in this economy.  I’d love to help you and since I am a relocation specialist, I can help you relocate to anywhere in the world.  Of course, I think Texas is the best place to live.

"Passion + Technology = SOLD" was originally posted as a blog post at Shannon Register Real Estate Team on December 1, 2009.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2009 | Shannon Register Real Estate Team

1. More Time to Pay Monthly Bills – Card Companies will be required to mail monthly bills at least 21 days before the payment’s due.
2. Same Due Date Each Month – The payment due date will have to be the same on every monthly statement.
3. More Information about Minimum Payments – Credit Card Bills will have to show how long it will take to pay off the balance if you are making only minimum monthly payments and options for paying off the balance in 36 months.
4. More Restrictions for Exceeding Credit Limits -  Before you can be charged an over-the-limit fee, you’ll need to “opt-in” or give your card issuer permission to complete transactions that will exceed your credit limit. If you sign up, you can still be charged for exceeding your limit. If you don’t sign up and make a charge that puts you over your limit, the card issuer may or may not decline the transaction. But either way, you can’t be charged an over-the-limit fee if you don’t sign up.

5. More Favorable Terms For Paying Off Balances with Higher Interest Rates – Currently, for accounts with different interest rates, such as cash advances and balance transfers, your payments typically go toward paying off balances iwth the lowest interest rates first.  In the future, payments in excess of the minimum amount will be required to pay off balances with the highest interest rate first.
6. Prohibition on Increasing the Interest Rates on Existing Balances – Under most circumstances card issuers won’t be allowed to increase rates on existing balances but will be allowed to increase rates for future purchases after the first year. A penalty rate can’t go into effect unless you don’t make a required payment within 60 days of its due date. In that case, you’ll need to be given a 45-day notice that tells you why your rate was increased. The penalty rate must be decreased to the original rate after six months in a row of timely payments.

7. More Notice Before Rates Can Be Increased on Future Balances – Rates can’t be increased during the first year after your account is opened. After the first year, you’ll have to be given at least 45 days’ notice before your rate can be increased. Plus, you’ll have the ability to close your account and maintain your current rate.

"7 Ways the New Credit Card Law Will Affect You" was originally posted as a blog post at Shannon Register Real Estate Team on November 28, 2009.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2009 | Shannon Register Real Estate Team

7Published in The Houston Chronicle, Sunday, November 22, 2009

It’s official, President Obama has signed a bill that extends the tax credit for first-time home buyers (FTHBs) into the first half of 2010.  In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure opens up opportunities for others who are not buying a home for the first time.

The program gives those who own a residence some additional reasons to move to a new home.  This incentive is a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a Primary Residence for 5 consecutive years during the last 8 years.

Deadlines for all contracts need to be in effect no later than April 30, 2010 and close no later than June 20, 2010. 

Single tax filers who earn up to $125,000 are eligible for the total credit amount.  Those who earn up to $145,000 can receive a partial credit.  Joint filers who earn up to $225,000 are eligible for the total credit amount.  Those who earn up to $245,000 can receive a partial credit.  Maximum purchase price:  $800,000.

What is a tax credit?  A tax credit is a direct reduction in tax liability owed to the IRS.

What is the tax credit for  first-time home buyers?  An eligible buyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home.  If the amount of the home purchased is $75,000, the  maximum amount the credit can be is $7,500.

Who is eligible for  the tax credit?  Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible.  This applies both to single taxpayers and married couples.  If either spouse has owned a primary residence in the last 36 months, neither would qualify.  In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.  As mentioned, the tax credit has been expanded so existing homeowners who have owned and occupied a primary residence for a period of 5 consecutive years during the last 8 years are eligible for a tax credit of up to $6,500. 

How do I claim the credit?  For those taking advantages of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405.

Other Restrictions?

If any of these apply, a credit would not be due.

• You buy your home from a spouse, parent, grandparent, child, or grandchild.
• You do not use the home as your principal residence.
• You sell your home before the end of the year.
• You area nonresident alien.
• Your home financing comes from tax-exempt mortgage revenue bonds.
• You owned a principal residence at any time during the 3 years prior to the date of purchase of your new home.

"Government Extends First-Time Home Buyer Tax Credit, Adds Another" was originally posted as a blog post at Shannon Register Real Estate Team on November 24, 2009.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2009 | Shannon Register Real Estate Team

HOUSTON (Houston Chronicle <http://blogs.chron.com/primeproperty/2009/11/good_news_for_general_growth_1.html> ) – Mortgage restructuring worth $8.9 billion could save two area malls owned by General Growth Properties from bankruptcy.

 Deerbrook Mall and The Woodlands Mall were two of 158 regional General Growth-owned properties that filed for Chapter 11 bankruptcy in April.

 The agreements, covering loans for more than 70 malls, could enable some centers to escape bankruptcy by the end of the year and extend loan due dates to January 2014 or as far back as 2018.

"Malls Could be Saved" was originally posted as a blog post at Shannon Register Real Estate Team on November 24, 2009.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2009 | Shannon Register Real Estate Team

Are you thinking about new floors this holiday season?  Changing your floors can add value to your home and there are so many options available. 

Carpet gets worn and dirty over the years and usually needs stretching after just a couple of years, so replacing carpet is always a great incentive for buyers when choosing a home to purchase.  Tile is durable because there is no maintenance for tile unless you are concerned about grout stains.  If it does it get chipped, it can usually be repaired.  Hardwood floors are nice because they are seemless and easy to clean.  I do not recommend them for wet areas, though, as water will cause them to buckle. 

If you’re looking for something new, check out bamboo, cork, or corboo which is a mixture of cork and bamboo.   

By changing the color, pattern, or material of your flooring, you can drastically change and update any room in your home.

"Flooring Options" was originally posted as a blog post at Shannon Register Real Estate Team on November 22, 2009.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2009 | Shannon Register Real Estate Team

By:  Vicki Fullerton, 2009 Chair of the Houston Association of Realtors, previously printed in the Houston Chronicle

While working with a Realtor to buy or sell a home, you may have seen “GRI”, “CRB”, or “CRE” after a Realtor’s name and wondered what those letters meant.  Like most industries that constantly are changing, real estate demands continuing education throughout a Realtor’s career.

A successful agent must keep up to date with current issues, evolving technology, changing laws and regulations, and other important aspects of the business.  After all, it’s that comprehensive knowledge that gives Realtors the ability to help consumers buy and sell houses successfully. 

The National Association of Realtor (NAR) offers advanced education designation and certification programs through its institutes, societies and councils for Realtors.  Though there are other designations, these programs carry an official endorsement from NAR.

Just as an MBA carries with it a certain distinction in the business world, so do the letters after a Realtor’s name in the world of real estate.  These designations and certification programs are tailored to every real estate specialty you’ve heard of, and probably some you haven’t, so if there’s an area of specialty you need, you almost certainly can find a Realtor who has it.

For example, your Realtor might have extra training as a buyer’s representative, land consultant, commercial investment expert, property manager, appraiser or brokerage manager.  Many Realtors earn several designations to keep as current as possible in multiple areas of the real estate industry.  You may want to work with someone who knows the ins and outs of a particular area.  After all, buying property is pretty complicated.  New technology, laws, procedures, and the increasing sophistication of buyers and sellers require real estate practitioners to perform at top professional levels, and consumers are demanding it.

GRI designation

One of the most comprehensive designations for Realtors is the GRI  (Graduate, Realtor Institute).  It’s a curriculum that requires Realtors to complete an advanced course series that includes 90 hours of classroom instruction.  There’s an emphases on technology, business development, sales and marketing, and critical legal and regulatory issues such as fair housing, brokerage relationships and environmental concerns.  State and local Realtor associations offer these classes, giving Realtors ample opportunity to stay on top of the real estate profession.

The GRI program gives Realtors an understanding of the industry’s finer points and that can only benefit folks who rely on that expertise to find the house of their dreams or sell their longtime residence.  And there’s more.

The following are NAR-endorsed designation and certification programs.  Look for these next time you need a Realtor with a specific area of expertise:

ABR:   Accredited Buyer Representative

ABRM:   Accredited Buyer Representative Manager

ALC:   Accredited Land Consultant

CCIM:  Certified Commercial Investment Member

CIPS:  Certified International Property Specialist

CPM:   Certified Property Manager

CRB:  Certified Real Estate Brokerage Manager

CRS:  Certified Residential Specialist

CRE:   Counselor of Real Estate

GAA:   General Accredited Appraiser

GRI:  Gradate, Realtor Institute

Green:  Sustainable Property Designation

PMN:  Performance Management Network

RCE:  Realtor Association Certified Executive

RAA:  Residential Accredited Appraiser

SRES:  Seniors Real Estate Specialist

SIOR:  Society of Industrial and Office Realtors

Certification Programs:

AHWD:  At Home with Diversity Certification

e-Pro:  Certification program for online professionalism

RSPS:   Resort and Second-home Property Specialist

REPA:  Real Estate Professional Assistant

TNC:  Transnational Referral Certification

"Realtor Designations: Those little letters can mean a lot" was originally posted as a blog post at Shannon Register Real Estate Team on November 22, 2009.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2009 | Shannon Register Real Estate Team

LOS ANGELES (Milken Institute) – Texas metros, led by number one Austin–Round Rock, claimed four of the top five spots and nine of the top 16 in the 2009 Milken Institute/Greenstreet Real Estate Partners Best-Performing Cities Index.

Also making the list were Killeen–Temple–Fort Hood (2), McAllen-Edinburg-Mission (4), Houston–Sugar Land–Baytown (5), San Antonio (11), Fort Worth–Arlington (12), Dallas-Plano-Irving (13), El Paso (14) and Corpus Christi (16).

Austin–Round Rock was the first metro to ever be ranked number one twice on the index, the last time being in 2000.

But it doesn’t stop there. Nine other Texas metros made the top 25 out of the 124 smallest metros that were studied.

Those were Midland (1), Longview (2), Tyler (4), Odessa (5), College Station–Bryan (14), Texarkana (17), Waco (18), Laredo (20) and Abilene (21).

Leaders in this year’s index, which ranks U.S. metros based on their ability to create and sustain jobs, are all metros that succeeded in avoiding the worst of economic declines driven by falling housing markets and job losses in manufacturing and global trade.

Regional economic factors also strongly influenced the rankings this year, with the oil and gas sector, technology and alternative energy providing stability among metros in Texas, North Carolina, Washington and Louisiana.

Another factor helping Texas metros move up in the rankings is the state’s favorable business climate and its ability to attract jobs and corporations away from higher-cost states.

"Texas Cities Dominate List of Top Performers" was originally posted as a blog post at Shannon Register Real Estate Team on November 16, 2009.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2009 | Shannon Register Real Estate Team

WASHINGTON, D.C. (National Association of Realtors) – The National Association of Realtors is launching a new website with information for homeowners and more tools for Realtors.

The site, called HouseLogic, is intended to help homeowners protect, maintain and enhance the value of their homes, and to provide business-building tools for Realtors. The site will also allow homeowners to speak together with Realtors to federal legislators on public policy issues where homeowners and the real estate industry have a common interest.

HouseLogic will be promoted to consumers in earnest starting in February. Until then, the site is in beta and is being promoted primarily to Realtors, giving them a chance to explore the site and provide feedback.

"NAR Launching Consumer Website" was originally posted as a blog post at Shannon Register Real Estate Team on November 14, 2009.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2009 | Shannon Register Real Estate Team

WASHINGTON (U.S. EPA) – Houston and Dallas top the list of 20 U.S. markets with the most Energy Star homes, according to an announcement released today by the U.S. Environmental Protection Agency (EPA).

San Antonio and Austin also made the list.

The EPA also announced that it reached a milestone for the Energy Star program by passing the one millionth Energy Star–qualified–home mark.

According to the EPA, families living in Energy Star–qualified homes will save more than $270 million on their utility bills this year while avoiding greenhouse gas emissions equivalent to those from about 370,000 vehicles.

"Texas Energy Star Homes Shine" was originally posted as a blog post at Shannon Register Real Estate Team on November 13, 2009.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

© 2008-2009 | Shannon Register Real Estate Team