Shannon Register Real Estate Team » RE/MAX Integrity

10 Ways to Lower Your Homeowners Insurance Costs

Shannon Register, Realtor — Fri, 23 Jul 2010 19:29:00 +0000

1. Raise your deductible – if you can afford to pay more toward a loss that occurs, your premiums will be lower.
2. Buy your homeowners and auto policies from the same company – you’ll usually qualify for a discount. But make sure that the savings really yields the lowest price.
3. Make your home less susceptible to damage – keep roofs and drains in good repair. Retrofir your house to prtect against natural disasters common to your area.
4. Keep your home safer – install smoke detectors, burglar alarms, and dead-bolt locks. All of these will usually qualify for a discount.
5. Be sure you insure your house for the correct amount – remember, you’re covering replacement, not market value.
6. Ask about other discounts – for example, retirees who are home more than working people may qualify for a discount on theft insurance.
7. Stay with the same insurer – especially in today’s tight insurance market, your current vendor is more likely to give you a good price.
8. See if you belong to any groups – associations, alumni groups – that offer lower insurance rates.
9. Review your policy limits and the value of your home and possessions annually – some items depreciate and may not need as much coverage.
10. See if there’s a government-backed insurance plan – in some high-risk areas, such as the coasts, federal or state governments may back plans to lower rates. Ask your agent.

"10 Ways to Lower Your Homeowners Insurance Costs" was originally posted as a blog post at Shannon Register Real Estate Team on July 23, 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.

Planning your next move?

Shannon Register, Realtor — Mon, 19 Jul 2010 19:48:26 +0000

Moving to the Houston area? I would like to be the first to welcome you and assist you with all of your real estate needs whether you are moving to Houston, The Woodlands, or Spring, Texas. As a relocation specialist, I can help you sell your current property anywhere in the world and find a new one in this area. As a RE/MAX agent, I help relocate families all over the globe. Please call me today and I will be happy to send you a copy of the Houston Newcomer Guide. It will help you narrow your search area and give you a lot of helpful information about the communities in the surrounding area. I would like to help you with all of your relocation needs and my website offers a wealth of information. You can search the entire Houston MLS database on my website and see my featured listings, too. You can read my award winning blog and catch up on all the latest housing news. Please call me today so we can get started. When you talk to your human resources coordinator, please ask for me by name! Shannon Register 832.628.SELL

"Planning your next move?" was originally posted as a blog post at Shannon Register Real Estate Team on July 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.

What Will You Net at Closing?

Shannon Register, Realtor — Mon, 28 Jun 2010 19:13:07 +0000

As a seller, what you want to know is what you will net at the closing table when you sell your home. To find out how much money you’ll net from your house, add up your closing costs and subtract them from the sale price of the house.
Possible Closing Costs for Sellers:

• Mortgage Payoff & Outstanding Interest
• Prorations for Real Estate Taxes
• Prorations for Utility Bills, Condo Dues, & other items paid in arrears
• Closing Fees Charged by Closing Specialist
• Home Inspections
• Attorney’s Fees
• Title Policy Fees
• Survey Charge
• Transfer Tax or other Government Registration Fees
• Brokerage Commission (Realtor Fees)
• Home Warranty for the Buyers

"What Will You Net at Closing?" was originally posted as a blog post at Shannon Register Real Estate Team on June 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.

Top 5 Reasons to Use a RE/MAX Sales Associate

Shannon Register, Realtor — Thu, 24 Jun 2010 02:41:58 +0000

1. An Agent You can Count On
Your home may be your biggest personal investment. One of the most important decisions you’ll make when selling your home is who you will trust to assist you. You should put the sale of your home in the hands of an experienced agent who’ll produce results for you. RE/MAX Sales Associates will put their experience to work for you to improve your odds of getting your home sold for the best price in the shortest time. This requires specialized skills and knowledge:
Knowing the market
Pricing your home correctly
Staging your home, inside and out, for maximum impact
Marketing to deliver maximum exposure of your home
Negotiating the offer to deliver the best deal
Navigating inspections, appraisals and the details
Successfully closing the deals

2. An Expert at Your Side
RE/MAX Sales Associates are professionals who are committed to you and possess the knowledge and experience to help you navigate today’s complex real estate market.
RE/MAX Sales Associates lead the industry in professional designations, which means they have expertise in specialized areas, including foreclosures, short sales, the luxury real estate market, working with Seniors and many others. With access to online, on-demand training in every facet of real estate, they are up to date on emerging trends and issues.

3. Marketing for Maximum Exposure
Looking for more potential buyers to find your property? A RE/MAX Sales Associate can help your home stand out in a very competitive marketplace through trust-generating yard signs, local and national advertising, and Internet and compelling marketing materials.

4. It’s All in the Details
Pricing, staging, and marketing are the first steps in successfully selling your home, but closing the deal requires in-depth knowledge and experience. Once you’ve accepted an offer, a lot of details remain before you get to the closing table. A RE/MAX Sales Associate will help you understand the process, navigate the details and keep the transaction on track.

5. Involved Community Citizens
RE/MAX Sales Associates are well-known locally and nationally for their involvement in many community programs. When you use a RE/MAX Sales Associate to sell your home, you contribute to the well-being of your community. RE/MAX is a national sponsor of Children’s Miracle Network, which aids sick children, and Susan G. Komen Race for the Cure, dedicated to finding a cure for breast cancer. Concerned about the environment? So is RE/MAX. Together, you and your agent can take steps to ensure a better environment for future generations.

"Top 5 Reasons to Use a RE/MAX Sales Associate" was originally posted as a blog post at Shannon Register Real Estate Team on June 23, 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.

A Home Inspection is Well Worth the Cost?

Shannon Register, Realtor — Mon, 21 Jun 2010 02:39:34 +0000

When buying a home, how do you know what you’re getting? Most people probably only think of one or two questions to ask a home inspector: “How much is your fee?” and “When can you be there?” But these only scratch the surface.

Below is a list of suggested questions you might want to ask:

• What types of licenses do you hold
• What kind of training do you have
• Do you belong to a professional inspectors’ association
• How long have you been licenses in Texas
• Are you a full-time home inspector
• How much do you charge
• Do you also perform repairs? (If the answer is yes, that may indicate a conflict in interest)
• What will the inspection include? (Get specifics. It should include the electrical, heating, and central air-conditioning systems; interior plumbing; visible insulation; roof; walls; ceilings; floors; windows; doors; foundation; basement; and the visible structure of the house.)
• Do you inspect gas lines, swimming pools, spas, septic systems, and wells? Do you charge extra for these?
• Do you charge extra based on the size of the home? Multiple A/C units? Other items?
• How much would you charge if I ask for a reinspection after repairs are completed?
• Will you supply a written report? (Should!)
• Can I attend the inspection? (If the answer is no, find another inspector. This is the opportunity for you to learn about your new home.)
• Do you go up on the roof to inspect
• How long does a typical inspection take? (Should take atleast two hours.)
• Can I call you with questions that come up later?
• Can you give me names and phone numbers of three people for whom you’ve inspected homes recently

The inspector might not inspect swimming pools, wells, septic tanks, and other systems and items, and many inspectors will not conduct environmental tests or wood-destroying insect inspections. You will likely need to arrange for these inspections separately.

You can find a blank copy of the standard inspector report form at www.trec.state.tx.us to give you an idea of what may or may not be covered in the inspection.

"A Home Inspection is Well Worth the Cost?" was originally posted as a blog post at Shannon Register Real Estate Team on June 20, 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.

22 Indicted in ‘Flipping’ Scheme

Shannon Register, Realtor — Sun, 20 Jun 2010 19:15:25 +0000

SAN ANTONIO (San Antonio Express-News) – A federal grand jury in San Antonio has indicted 22 people on charges that they engaged in a “flipping” scheme intended to bilk lenders out of $50 million.
According to the indictment, between May 17, 2005, and Feb. 21, 2008, Robert Brooks of Dallas bought properties at or around market value and then offered people $10,000 to $25,000 to act as straw buyers who would purchase the homes at inflated prices.
With the help of appraisers, title officers, escrow officers, mortgage processors and others, Brooks then allegedly obtained mortgage loans for those buyers using falsified documents. A year later, he let those mortgages go into default, according to the indictment.
The defendants will serve up to 30 years in prison if convicted of the charges.

Many of the homes listed in the case are condominiums in the Dallas area.
The case is part of a nationwide sweep called Operation Stolen Dreams.

"22 Indicted in ‘Flipping’ Scheme" was originally posted as a blog post at Shannon Register Real Estate Team on June 20, 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.

Credit Reports & Misconseptions

Shannon Register, Realtor — Thu, 17 Jun 2010 03:20:28 +0000

By periodically checking your credit report, you can keep tabs on the factors that influence your credit score. Make sure you know where to get a copy of your reports and how to interpret them. You are entitled to one free credit report per year from all three credit reporting agencies – Equifax, TransUnion, and Experian. For free reports, use the AnnualCreditReport.com site. It will not give you the FICO score, but you will be able to view your credit report. Your credit report will show your creditors and the status of each account, public records like judgements, the requests that have been made to view your credit history, and personal data like your name, address, and social security number. Any negative information, like a missed mortgage payment, will stay on your credit for about four years. If you find a mistake on your credit report, you should file a dispute in writing with the agency that provided the report. If you have old charges that need to be paid off and they have been on your credit for many years, do not pay them if you are trying to get a mortgage. When you pay them it shows activity on the account and will actually lower your credit score. If the mortgage company requires them to be paid in order to give you the loan, usually you can pay them at closing. If you suspect that someone is requesting credit under your name you should file a 90-day fraud alert on your credit file.

"Credit Reports & Misconseptions" was originally posted as a blog post at Shannon Register Real Estate Team on June 16, 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.

Is there a move in your future?

Shannon Register, Realtor — Mon, 14 Jun 2010 19:45:34 +0000

"Is there a move in your future?" was originally posted as a blog post at Shannon Register Real Estate Team on June 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.

What do you want and need in a home?

Shannon Register, Realtor — Sat, 12 Jun 2010 02:23:02 +0000

Finding a new home can be exciting. But deciding what you truly want and need-and can afford-can be challenging. Making these decisions begins with setting priorities among many different preferences. Most homebuyers invariably face trade-offs. As your buyer’s representative, I can play a key role in helping you sort out your options. My team can also offer important insights specific to our local market. Here are many of the considerations you’ll want to discuss with me or my team members:

Basic Home Features

• Do you prefer a single-family detached home, townhome, condominium, or other type of property?
• Desired number of bedrooms and baths
• Preferences regarding kitchen, dining, family rooms, etc. and preferred home layout
• High-priority home features, such as kitchen appliances, fireplace, etc.
• Other types of rooms needed (e.g., a home office or a hobby space)
• Storage spaces (closets, basement, and outdoor shed, etc.)
• Need for a garage or parking space, and if so, for how many cars?

Other Home Preferences

• Ranch, two story, split level, etc.
• Age and style of home (Victorian, bungalow, modern, etc.)
• How important is energy efficiency or other green home features?

Neighborhoods/Location

• Commuting considerations (to work, shopping, etc.)
• Proximity to desirable features (such as a community center, exercise facility, school, hospital, etc.)
• Views – how important is to find your ideal view (overlooking a park, for example) or avoiding a bad one (busy highway)?

Lot Characteristics

• Size and Shape of yards
• Landscaping Considerations – need for privacy, play areas, decking, etc.
• Home orientation – is it important for your home to face a particular direction?

Life at Home

• If you’ll be sharing your home with kids, pets, or others, how does this impact your housing preferences?
• Proximity to neighbors

Related Costs

• HOA or Homeowner Association Fees
• Property Taxes

Trade-Offs

• How much do you want to invest in a home beyond the purchase price, either financially or in terms of sweat equity, if you can’t find exactly what you want?
• Are you willing to consider other neighborhoods that provide better affordability?
Resale
• How long do you plan to live in this home? How does this impact the type of home you will buy, how much you’ll spend, and your choice of location?

This information is reprinted from a www.REBAC.net publication.

"What do you want and need in a home?" was originally posted as a blog post at Shannon Register Real Estate Team on June 11, 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.

Bank of America Settles Federal Charges

Shannon Register, Realtor — Thu, 10 Jun 2010 22:16:45 +0000

WASHINGTON, D.C. (Yahoo News) – Bank of America will pay $108 million to settle charges against Countrywide Financial Corp., which Bank of America purchased in July 2008.
The Securities and Exchange Commission charged three top executives, including CEO Angelo Mozilo, with civil fraud and insider trading last year.
Federal Trade Commission Chairman Job Leibowitz accused Countrywide of “callous conduct, which took advantage of consumers already at the end of their financial rope.”
Settlement agreements include refunding money to approximately 200,000 borrowers and notifying bankrupt borrowers monthly about what they owe, including fees.
The bank did not deny or admit to charges; however, they agreed to pay the settlement “to avoid the expense and distraction associated with litigating the case.”

"Bank of America Settles Federal Charges" was originally posted as a blog post at Shannon Register Real Estate Team on June 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.

May Brings 2010′s Lowest Mortgage Rates

Shannon Register, Realtor — Sat, 22 May 2010 02:53:02 +0000

McLEAN, Va. (The Wall Street Journal) – Home mortgage rates reached their lowest level of the year, according to Freddie Mac’s weekly survey of mortgage rates.

The 30-year fixed-rate mortgage averaged 4.93 percent, down from 5 percent a week ago.

The 15-year fixed-rate mortgage fell from 4.36 percent to 4.3 percent while the five-year Treasury-indexed hybrid adjustable-rate mortgage showed to be 3.95 percent.

One-year Treasury-indexed ARMs averaged 4.02 percent.

"May Brings 2010′s Lowest Mortgage Rates" was originally posted as a blog post at Shannon Register Real Estate Team on May 21, 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.

Moving to Houston?

Shannon Register, Realtor — Fri, 21 May 2010 19:43:26 +0000

"Moving to Houston?" was originally posted as a blog post at Shannon Register Real Estate Team on May 21, 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.

Grassland Protection Funds Available

Shannon Register, Realtor — Fri, 21 May 2010 02:49:42 +0000

TEMPLE (USDA) – The USDA Natural Resources Conservation Service (NRCS) has announced an additional $14.3 million in conservation financial assistance for working lands through the Grassland Reserve Program (GRP).

GRP helps landowners and operators protect working grasslands, including hay land, pastureland, native grasslands and certain other lands through rental contracts or conservation easements.

NRCS and USDA’s Farm Service Agency jointly administer the program.

For more information visit NRCS online.

"Grassland Protection Funds Available" was originally posted as a blog post at Shannon Register Real Estate Team on May 20, 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.

7 Terms to Watch for in a Purchase Contract

Shannon Register, Realtor — Thu, 13 May 2010 18:53:07 +0000

1. The closing date – see if the date the buyer wants to take title is reasonable for you.
2. Date of possession – see if the date the buyer wants to move in is reasonable for you.
3. The earnest money – look for the largest earnest-money deposit possible; since it is forfeited if the buyer backs out, a large deposit is usually a good indication of a sincere buyer.
4. Fixtures and personal property – check the list of items that the buyer expects to remain with the property and be sure it’s acceptable.
5. Repairs – determine what the requested repairs will cost and whether you’re willing to do the work or would rather lower the price by that amount.
6. Contingencies – see what other factors the buyer wants met before the contract is final – inspections, selling a home, obtaining a mortgage, review of the contract by an attorney. Set time limits on contingencies so that they won’t drag on and keep your sale from becoming final.
7. The contract expiration date – see how long you have to make a decision on the offer.

"7 Terms to Watch for in a Purchase Contract" was originally posted as a blog post at Shannon Register Real Estate Team on May 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.

Under Contract – $135,000 – 838 Cypresswood Bend Spring TX 77373

Shannon Register, Realtor — Mon, 10 May 2010 12:32:15 +0000

Beautiful three bedroom open floor plan home in the Cypresswood Lake Subdivision. This community offers a lake, miles of walking trails, parks, volleyball, & a community swimming pool. This one story home includes professional landscaping and sprinkler, tile upgrades, a flex gameroom, patio, and much more. The home has programmable thermostats, whirlpool tub in master with double sinks and separate shower, fans in living areas, raised breakfast bar, island kitchen, built in microwave, lead glass front door, and much more. It is a must see short sale. (more…)

"Under Contract – $135,000 – 838 Cypresswood Bend Spring TX 77373" was originally posted as a blog post at Shannon Register Real Estate Team on May 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.

Foreclosed July 7, 2010 – 927 Adowa Spring Loop – Spring TX 77373

Shannon Register, Realtor — Sun, 09 May 2010 21:02:36 +0000

Three year old Perry Built home in quiet, gated community of Spring Lakes that is convenient to I45, Hardy Toll Rd, The Woodlands, & shopping in Old Town Spring. This community offers lakes with fountains, ducks, miles of walking trails, parks, volleyball & lighted tennis courts, & community pools. The home has an open floor plan that boasts of high ceilings, tile floors, a master down, three bedrooms up, large walk in closets, upstairs game room, tile backsplash in kitchen with granite island & stainless steel appliances. This large lot has plenty of room for a pool or entertaining. It is a short sale and an excellent value! (more…)

"Foreclosed July 7, 2010 – 927 Adowa Spring Loop – Spring TX 77373" was originally posted as a blog post at Shannon Register Real Estate Team on May 9, 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.

Homebuyer Tax Credit Comes to an End

Shannon Register, Realtor — Fri, 30 Apr 2010 02:52:45 +0000

The homebuyers tax credit has now come to an end but don’t let that stop you from purchasing a home right now. The market has really turned around and is on the upswing in the Houston, Texas area and there has never been a better time to purchase. Home prices are low and so are interest rates. What a great time to purchase your home for a great price and when the market really gains its strength back, you will have made a great investment!! Our team is standing by, ready to assist you in your purchase. If you are looking to sell your home, our recent sales tell us now is the time. We are coming into the busiest season of the entire year and buyers are out looking. Let our strengths work for you. You won’t be sorry you trusted us to help you with one of the biggest decisions of your life. We look forward to serving you!

"Homebuyer Tax Credit Comes to an End" was originally posted as a blog post at Shannon Register Real Estate Team on April 29, 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.

US New Home Sales Surge

Shannon Register, Realtor — Wed, 28 Apr 2010 19:21:38 +0000

HOUSTON (Houston Business Journal) – New home sales surged 26.9 percent from February to March, according to the Department of Commerce.

The nationwide increase, which was the largest one-month gain in five decades, was accompanied by a 23.8 percent increase in new home sales year over year.

There were 228,000 new homes on the market at the end of March, a 6.7-month inventory at the current sales rate.

Last month’s sales increase was credited partially to fairer weather and buyers hurrying to beat the expiration of the government’s homebuyer tax credit.

"US New Home Sales Surge" was originally posted as a blog post at Shannon Register Real Estate Team on April 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.

Tips for Packing Like a Pro

Shannon Register, Realtor — Tue, 27 Apr 2010 18:22:25 +0000

1. Develop a master “to do” list so you won’t forget something critical.
2. Sort and get rid of things you no longer want or need. Have a garage sale, donate to a charity, or recycle.
3. Don’t throw out everything. If your inclination is to just toss it, ask yourself how frequently you use an item and how you’d feel if you no longer had it.
4. Pack like items together. Put toys with toys, kitchen utensils with kitchen utencils, etc.
5. Decide what if anything you plan to move yourself. Precious items, such as family photos, valuable breakables, or must-haves during the move, should probably stay with you.
6. Use the right box for the item. Loose items encourage breakage.
7. Put heavy items in small boxes so they’re easier to lift. Keep weight under 50lbs. if possible.
8. Don’t over-pack boxes and increase the chances they will break.
9. Wrap every fragile item separately and pad bottom and sides of boxes.
10. Label every box on all sides. You never know how they’ll be stacked and you don’t want to have to move other boxes aside to find out what’s there.
11. Use color-coded labels to indicate which room each item should go in. Color-code a floor plan for your new house to help movers.
12. Keep your moving documents together, including phone numbers, driver’s name, and van numbers. Also keep your address book handy.
13. Back up your computer files before moving your computer.
14. Inspect each box and all furniture for damage as soon as it arrives.
15. Remember, most movers won’t take plants.

"Tips for Packing Like a Pro" was originally posted as a blog post at Shannon Register Real Estate Team on April 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.

HOA Trade Homes for Late Payments

Shannon Register, Realtor — Fri, 23 Apr 2010 20:22:07 +0000

DALLAS (Dallas Morning News) – About 350 Dallas–Fort Worth homes are currently facing foreclosure not because the owners are behind on mortgage payments, but because they owe money to their homeowners associations or equity loan holders.

This number accounts for less than 10 percent of the total foreclosure postings for May in the four-county area, but the number of filings is increasing, said George Roddy, president of Addison-based Foreclosure Listing Service.

Homeowners associations (HOAs) debts typically include unpaid dues, fines or special assessments. Each HOA is governed independently and the HOA foreclosure filings do not have to specify how much is owed, which varies widely.

Because foreclosures by HOAs do not include the original debt on the properties, the buyers of those properties have to negotiate to pay the original mortgage. Owners have six months after the sale to redeem their ownership by paying the HOA debt, according to Roddy.

Additionally, nearly 250 foreclosure filings were made in DFW this month that were the result of defaults on home equity loans.

"HOA Trade Homes for Late Payments" was originally posted as a blog post at Shannon Register Real Estate Team on April 23, 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.

3 Open Houses This Weekend!

Shannon Register, Realtor — Fri, 23 Apr 2010 20:12:19 +0000

This weekend I will be holding open three of my listings. I hope you’ll stop by to see them!

Saturday from 1-3pm 25819 Sarah Springs, Spring, 77373, Spring Lakes Subdivision

Saturday from 3-5pm 25714 Serene Springs, Spring, 77373, Spring Lakes Subdivision

Sunday from 2-4pm 25535 Mill Pond, Spring, 77373, Lexington Woods Subdivision

"3 Open Houses This Weekend!" was originally posted as a blog post at Shannon Register Real Estate Team on April 23, 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.

Top 5 February Real Estate Milestones for Houston

Shannon Register, Realtor — Thu, 22 Apr 2010 02:38:53 +0000

Average price for a single-family home appreciated for a fifth straight month, by 12.3%, to $203,271.
The median price of a single-family home rose for the 10^th consecutive month, by 6.5%, to $147,000.
6.3 months inventory of single-family homes compares favorably to the national average of 7.8 months.
Townhouse/condominium sales rose 8.9%
Total dollar volume grew 5.1%, reaching $747 million

Information courtesy of the Houston Association of Realtors, 2010 MLS Chair

"Top 5 February Real Estate Milestones for Houston" was originally posted as a blog post at Shannon Register Real Estate Team on April 21, 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.

Top Listing Agent Award

Shannon Register, Realtor — Wed, 21 Apr 2010 18:29:35 +0000

At today’s quarterly office meeting our team was awarded with the 1st Quarter 2010 Top Listing Agent Award. Business is a booming! If you need to buy, sell, or lease a home I hope you’ll call on our professional real estate team for help. We are determined to be the best, most professional, and most knowledgeable team in the business!

"Top Listing Agent Award" was originally posted as a blog post at Shannon Register Real Estate Team on April 21, 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.

What Documents Should You Keep After Closing?

Shannon Register, Realtor — Sun, 18 Apr 2010 17:12:09 +0000

You will walk away from the closing table with a packet full of documents and some of them are very important to keep. Hopefully the following guidelines will help you know what to put in the safety deposit box and what you can toss.

• The HUD-1 Statement, usually printed on legal size paper, is the Real Estate Settlement Procedures Act (RESPA) Statement. This statement itemizes all the costs associated with the closing. You’ll need this for income tax purposes and when you sell the home.
• The Truth in Lending Statement summarizes the terms of your mortgage loan.
• The mortgage and the note (two pieces of paper) spell out the legal terms of your mortgage obligation and the agreed-upon repayment terms.
• The deed transfers ownership of the property to you.
• Affidavits swearing to various statements by either party. For example, the sellers will often sign an affidavit stating that they have not incurred any liens on the property.
• Riders are amendments to the sales contract that affect your rights. For example, if you buy a condominium, you may have a rider outline the condo association’s rules and restrictions.
• Insurance policies provide a record and proof of your coverage.

"What Documents Should You Keep After Closing?" was originally posted as a blog post at Shannon Register Real Estate Team on April 18, 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.

Houston Homes Retain Value in 2009

Shannon Register, Realtor — Thu, 15 Apr 2010 03:38:04 +0000

HOUSTON (Houston Chronicle) – Area single-family home prices weathered the economy well in 2009, remaining essentially flat with a median price of $72.58 per sf, according to an annual home price analysis commissioned by the Houston Chronicle.

The study analyzed the median price per sf of 52,100 homes sold through the Multiple Listings Service last year in Harris, Fort Bend, Montgomery, Galveston and Brazoria Counties. To be included, neighborhoods must have had at least five home sales. In 2009, 1,890 were listed, down from over 2,000 in 2008. Of all homes surveyed, 18 percent were new.

Some of the survey’s findings were:

homes priced between $80,000 and $150,000 made up the largest segment sold in the market;
81 percent of the sales were outside Beltway 8;
Fort Bend was the only county to post a noticeable increase in median value;
values in more than 120 of the area’s largest neighborhoods, with at least 1,000 homes, declined or were flat last year, while about 80 registered increases;
the most expensive home sale was $6.3 million, down from almost $10 million in 2008; and
values in more than half of the neighborhoods surveyed were down — some by as much as 50 percent.

While overall prices remained stable, sales fell 25 percent from their peak in 2006.

The percentage of foreclosure sales dipped slightly to 20.5 percent of total sales.

"Houston Homes Retain Value in 2009" was originally posted as a blog post at Shannon Register Real Estate Team on April 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.

Relocating to Houston?

Shannon Register, Realtor — Tue, 13 Apr 2010 19:39:13 +0000

"Relocating to Houston?" was originally posted as a blog post at Shannon Register Real Estate Team on April 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.

What Do Today’s Homebuyers Want?

Shannon Register, Realtor — Tue, 13 Apr 2010 18:02:29 +0000

COLLEGE STATION (Real Estate Center) – In today’s economy, home builders must pay close attention to what buyers say they prefer in a new home. The Real Estate Center’s latest video, “What Homebuyers Want in 2010,” features two experts with perspectives on buyer preferences.

Rose Quint is assistant vice president with the Survey Research Economics and Housing Policy Group for the National Association of Home Builders. Eliot Nusbaum is executive editor of Better Homes and Gardens.

This 14-minute video was taped at the 2010 International Builders’ Show in Las Vegas.

"What Do Today’s Homebuyers Want?" was originally posted as a blog post at Shannon Register Real Estate Team on April 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.

Texas’ Job Loss Rate Decreasing

Shannon Register, Realtor — Mon, 12 Apr 2010 18:00:37 +0000

COLLEGE STATION (Real Estate Center) – Both the U.S and the Texas labor markets hit bottom in August 2009 and since then have been losing jobs at decreasing rates. Texas’ job loss rate has decreased from 4 percent in August 2009 to 2.3 percent in February 2010. Over the same period, the U.S. job loss rate has decreased from 5 percent to 2.5 percent.

The state’s seasonally adjusted unemployment rate rose from 6.8 percent in February 2009 to 8.2 percent in February 2010, while the U.S. rate rose from 8.2 percent to 9.7 percent during the same period.

Only one Texas industry, education and health services, and the government sector had more jobs in February 2010 than in February 2009. Ten other industries experienced net job losses over the same period.

Four Texas metro areas had positive employment growth rates from February 2009 to February 2010. They were College Station–Bryan, Killeen–Temple–Fort Hood, Waco and McAllen-Edinburg-Mission. Twenty-two metro areas had net job losses.

The state’s actual unemployment rate in February 2010 was 8.3 percent. Amarillo had the lowest unemployment rate followed by Midland, College Station–Bryan and Lubbock.

The Real Estate Center’s complete monthly Texas economic review is available online.

"Texas’ Job Loss Rate Decreasing" was originally posted as a blog post at Shannon Register Real Estate Team on April 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.

What You Need to Know About Phasing Out R-22 Refrigerant

Shannon Register, Realtor — Sat, 10 Apr 2010 13:20:18 +0000

Frequently asked questions about the phasing out of R-22 refrigerant, as mandated by the Clean Air Act and regulated by the U.S. Environmental Protection Agency (EPA).

What is R-22?
R-22 (also known as HCFC-22) is a refrigerant commonly used in air conditioning equipment and other applications. It is a type of manmade chemical known as hydrochlorofluorocarbons (HCFCs).

Why is it being phased out?
The release of HCFCs and other manmade chemicals into the atmosphere have depleted the Earth’s protective ozone layer and created an “ozone hole” over the South Pole. Restricting and eventually banning the production and use of HCFCs and other ozone-depleting chemicals will allow the ozone layer to eventually return to its normal level. Scientists estimate that with a worldwide phaseout of ozone-depleting substances, the ozone layer will recover by about 2075.

The phaseout of R-22 is part of a worldwide initiative, the Montreal Protocol on Substances that Deplete the Ozone Layer, to end the use of all ozone-depleting chemicals.

Why is the ozone layer important?
The Earth’s ozone layer protects the planet from the sun’s harmful ultraviolet radiation. Depletion of this shield means more radiation reaches the Earth’s surface where it can harm people and ecosystems.

What will replace R-22?
The most common non-ozone-depleting refrigerant in use today is R-410A, known by trade names PURON, SUVA 410A and GENTRONAZ-20.

When does the phaseout of R-22 begin?
In the United States, the phaseout begins on January 1, 2010, when the U.S. bans production and import of R-22 for new equipment only. This means that all new air conditioning equipment produced in or imported to the U.S. must use R-410Aor another alternative refrigerant. R-22 can still be produced or imported for servicing of existing equipment.

How is the phaseout structured?
There are four major steps to the phaseout of R-22:

2010 – Ban on production, import and use of R-22 and HCFC-142b, except for continuing servicing needs of existing equipment.
2015 – Ban on production, import and use all HCFCs, except for continuing servicing needs of refrigeration equipment.
2020 – Ban on remaining production and import of R-22 and HCFC-142b. After 2020, the servicing of systems with R-22 will rely on recycled or stockpiled quantities.
2030 – Ban on remaining production and import of all HCFCs.

Why is the phaseout over such a long period?
The phaseout has been designed to allow adequate time to switch to ozone-friendly refrigerants as part of normal equipment replacement, so consumers and businesses can avoid having to replace equipment that still has useful life.

R-22 is used in numerous commercial and industrial applications, but for homeowners the most direct impact of this phaseout is in home air conditioners and heat pumps.

Can I still use my R-22 equipment?
Yes. There is no ban on the use of R-22 equipment made before January 1, 2010. You are not required to replace existing equipment.

Can I still repair existing R-22 equipment?
Air conditioners, heat pumps and other systems that use R-22 may still be serviced, maintained and repaired, and R-22 will still be available for use in equipment made before 2010.

Can R-22 be mixed with R-410A in a system?
No. R-410Acan only be used in a system designed for the higher pressures and unique characteristics of this refrigerant.

Can R-22 equipment be modified to use R-410A?
It is possible to switch to R-410A or another alternative refrigerant in an existing R-22 system, but this requires significant modifications of the equipment.

Can I still purchase an R-22 system?
There is no ban against purchasing systems using R-22, but after December 31, 2009 manufacturers are no longer permitted to produce or import R-22 systems.

How do costs compare between R-22 and R-410A equipment?
Currently, a new R-410Asystem is slightly more expensive than a comparable R-22 system. Other factors should be considered, including the long-term cost and availability of R-22 refrigerant and parts, energy efficiency, performance and reliability.

How does the energy efficiency compare between R-22 and R-410A equipment?
There are both R-410Aand R-22 systems that qualify for the ENERGYSTAR

H rating, which means the system is at least 14% more efficient than a standard new system. However, R-410Asystems offer the additional advantage of using a non-ozone-depleting refrigerant. How will the phaseout affect R-22 equipment repairin the future? As the phaseout continues, R-22 refrigerant will become more scarce and parts will be less common. This means service and maintenance of these systems is likely to be increasingly more expensive and less convenient in years to come.

How can I minimize the impact on the ozone layer with my existing R-22 system?
The most important thing you can do is maintain your equipment. Major leaks rarely develop in properly installed and maintained equipment. However, it is necessary to service your system properly to minimize environmental damage and maintenance costs. Be sure to select a reliable service contractor who is EPA-certified to service equipment containing R-22.

How will the phaseout affect R-22 equipment replacement in the future?
Since R-22 equipment cannot be manufactured or imported after January 1, 2010, the availability of new R-22 systems will decrease each subsequent year. Of course, R-410Asystems will be available as replacements.

Are R-410Asystems available now?
Yes. Systems that use R-410Aor other non-ozone-depleting alternative refrigerants are available now and will become increasingly common.

Are service contractors trained to work on R-410A systems?
Yes. Service contractors repairing and installing R-22 systems today should be technically capable of R-410Arepair and installation as well. As the new systems become more common, more contractors will be familiar with them. However, it is a good idea to make sure that the dealer or contractor you use is trained in the installation and service procedures required for R-410Aequipment.

When will R-22 no longer be available for purchase?
R-22 will continue to be manufactured and imported until 2020 for service of existing equipment. After 2020, only recycled or reclaimed R-22 will be available. It is difficult to predict when supplies will run out, but the EPA anticipates that supplies should be available until most R-22 equipment is retired.

Will R-22 equipment parts continue to be available?
No manufacturers have announced plans to stop producing R-22 repair parts. However, availability of parts in the future will be determined by normal market conditions.Can R-410Abe used in an R-22 system? R-410Acannot be used in an unmodified R-22 system, because it requires equipment designed for the higher pressures and unique characteristics of R-410A. Although it is possible to update an R-22 system for R-410Arefrigerant, the modifications are significant and often cost-prohibitive.

Can recovered R-22 be used again?
Yes. Under special circumstances, EPA regulations allow equipment to be recharged with recovered refrigerant – meaning refrigerant removed from the appliance and stored in an external container without testing or processing.

If the refrigerant is to be used in equipment with different ownership, it must be reclaimed or recycled. Reclaiming means reprocessing the refrigerant to meet industry standards with specialized machinery not generally available at a job site or repair shop. Recycling means extracting it and cleaning it for reuse without meeting the requirements for reclamation.

What is the proper way to dispose of R-22?
Recovered HCFC refrigerants including R-22 should be sent to an EPA-certified refrigerant reclaimer. Only EPA-certified reclaimers may reclaim and sell used refrigerants to a new owner. Contractors may also send HCFC refrigerants to be destroyed. They must be completely destroyed at a destruction efficiency of 98% or greater, using one of the approved destruction technologies. In the United States, incineration technologies are most commonly used for this purpose.

If I am an AHS Home Warranty customer, what will the R-22 Phase Out mean to me?
Since the R-22 refrigerant will be phased out gradually, AHS will continue to repair and replace with R-22 systems until the parts and systems are no longer available, within the EPA’s mandated guidelines. When the supply inventory of R-22 related parts and systems have depleted and it is necessary to replace with R-410Arefrigerant systems, American Home Shield will cover the cost to replace the air conditioner and its modifications necessary by the transition from R-22 to R-410A refrigerants. (Refer to the air conditioning section of the warranty contract for coverage details.)

This information is courtesy of American Home Shield Warranty.

"What You Need to Know About Phasing Out R-22 Refrigerant" was originally posted as a blog post at Shannon Register Real Estate Team on April 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.

National and State Mortgage Rates Rise Over Past Week

Shannon Register, Realtor — Thu, 08 Apr 2010 19:04:03 +0000

National and State Mortgage Rates Rise Over Past Week; Current 30-Year Fixed Rate Is 5.08%, According to Zillow® Mortgage Rate Ticker

SEATTLE, April 6 /PRNewswire/ — The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 5.08 percent, up fifteen basis points from 4.93 percent compared to this same time last week. The 30-year fixed mortgage rate rose last week, spiking Sunday at 5.14 percent before falling to 5.05 percent Monday.

(Logo: http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO)

Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.

The rate for 15-year fixed home loans is currently 4.37 percent, while the rate for 5-1 adjustable-rate mortgages (ARM) is 3.68 percent.

The total volume of mortgage requests in the past week was down 11 percent from the prior week. Of last week’s requests, 25 percent were for refinance loans, 73 percent were for purchase loans and 2 percent were for home equity loans. The prior week, 29 percent of requests were for refinance loans, 69 percent were for purchase loans and 2 percent were for home equity loans.

Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: www.zillow.com/Mortgage_Rates.



State	Current 30-Year Fixed Rate (4/06/10)	Last week’s 30-Year Fixed Rate (3/30/10)	Change in Basis Points
California Mortgage Rates	5.03%	4.91%	+12
Colorado Mortgage Rates	5.02%	4.91%	+11
Florida Mortgage Rates	5.11%	5.06%	+5
Illinois Mortgage Rates	5.16%	4.95%	+21
Massachusetts Mortgage Rates	5.21%	5.14%	+7
New Jersey Mortgage Rates	5.07%	4.90%	+17
New York Mortgage Rates	5.06%	4.92%	+14
Pennsylvania Mortgage Rates	5.05%	4.98%	+7
Texas Mortgage Rates	5.09%	4.97%	+12
Washington Mortgage Rates	5.13%	4.93%	+20

About Zillow Mortgage Marketplace

Zillow Mortgage Marketplace is a free, open, and transparent lending marketplace, where borrowers connect with lenders to find loans and get the best mortgage rates. Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders. Zillow Mortgage Marketplace also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories.

Zillow is a registered trademark of Zillow, Inc.

"National and State Mortgage Rates Rise Over Past Week" was originally posted as a blog post at Shannon Register Real Estate Team on April 8, 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.