Home Sellers Need To Know Home Buyers

Are you  in the market to sell your home? If you want to be  quick and successful about it, it is best to know the traits of today's home buyer. Especially if you live in a neighborhood that has a lot of homes that have not moved, doing a little extra research may give you the edge over comparables in the area.

A good real estate agent will be able to help you in that process. Or home sellers in the Houston, Spring, The Woodlands, Conroe/Lake Conroe Texas market areas, get a free evaluation of your home so you know what you have to work with. Start by completing our free form for initiating a free evaluation.

Ready for a little character sketch of that buyer? Here you go...

5 Traits of Today's Home Buyers

A survey by American Lives, a consumer research firm in California, conducted a study for the trade magazine Builder to answer that question. Here are their conclusions:

· They are young. Most are under 45. Half said they had annual household incomes of $75,000 or less. Two-thirds are married.
· They are frugal. They consistently told surveyors they were eager to live a simple lifestyle.
· They are concerned about their financial future. About 70 percent said the economy is “not so good” with 27 percent saying it was getting worse and 27 percent saying it was getting better, and two-thirds saying it would get better in a year. Some 55 percent said they were concerned that they might lose their jobs.
· They see themselves as energy efficient but not necessarily “green.” About 32 percent said they’d pay extra for energy-efficient features but only 16 percent said they’d pay extra for recycled or renewable construction materials.
· Neighborhood is important. Ninety-five percent said they thought the community was as important as the home itself. Seventy-nine percent wanted the most square footage they could afford, but 69 percent said they’d consider a smaller home in the right neighborhood.

Source: Inman News, Mary Umberger (10/27/2010)

This is just a short list, and does not include all the concerns that may come into play in your area. Here in the Houston  and The Woodlands, it is important to evaluate your school system. I have been finding that most of the buyers out there right now in the Houston area are young and first time buyers.  For home buyers in Spring, The Woodlands, and Lake Conroe markets, I have noticed that the average home buyer's age is around 25-27 years old, and they are looking for a newer home around 1800+ Sq ft. Their typical price range is 120,000-170,000

So how do you translate this information into how you can most successfully sell your Woodlands home or Lake Conroe-area home ? Give me a call and we can evaluate it. Also check out my website for some of the homes and properties of my clients. For higher end properties check out my Lauri's Featured Properties page. For properties that fit nicely into this market's Home Buyers' range, check out my listings on my website called Lauri's Super Affordable Real Estate Finds. No matter what your property type, there is someone out there who will be the perfect owner for it. Let me help you to put you together!

Don't look now, but do I see the housing market stabilizing?

Whether or not you are currently in need of buying or selling a home, it will be a welcome wind that blows stability back into the housing market. Since the housing market brought about the downfall of our national economy a couple of years ago, we have all suffered the consequences of it. The consequences, in turn, resulted in immediate reform of lending practices, and from then to now we have drudged through the valley of darkness, waiting for the redemption of our real estate investments. Waiting for the first glimmer of light to reach our eyes and reveal that a healthy real estate market is in our future.  At long last, is that a light I see up ahead? Let's take a look!

U.S. Commerce Department: Housing Starts Are Up

According to the U.S. Commerce Department, single-family housing starts edged up 0.3% to a seasonally adjusted annual rate of 610,000 units in September.

“Builders are cautiously responding to the small improvement they are seeing in interest among potential home buyers,” noted Bob Jones, chairman of the National Association of Home Builders (NAHB) and a home builder from Bloomfield Hills, Mich. “However, as consumer demand for new homes rises, a major limiting factor for a housing recovery continues to be builders’ inability to access credit for new construction.”

“Today’s numbers are in line with our latest builder surveys, which indicate that stability is slowly returning to the new-homes market following the declines we saw upon expiration of the home buyer tax credits and the slowing of economic growth this summer,” added NAHB Chief Economist David Crowe. “Builders are receiving more inquiries from potential customers and are carefully responding to renewed consumer interest, although their limited access to credit for new housing production is definitely hampering this process.”

All of the increase in housing production in September was due to improvement on the single-family side, which posted a 4.4% gain to a seasonally adjusted annual rate of 452,000 units—the strongest level since May of this year. Multifamily starts, which tend to exhibit greater volatility on a month-to-month basis, recorded a 9.7% decline to a 158,000-unit rate following a big increase in August.

On a regional basis, starts activity was mixed, with two regions posting gains and two posting declines for September. The Northeast and South registered gains of 2.9% and 4.8%, respectively, while the Midwest and West registered declines of 8.2% and 3.6%, respectively.

Permit issuance, which can be an indicator of future building activity, declined 5.5% to a seasonally adjusted annual rate of 539,000 units in September. This dip was due entirely to a 20.2% decline to a 134,000-unit rate on the more volatile multifamily side, while single-family permits remained virtually unchanged, edging up 0.5% to a 405,000-unit rate.

Regionally, permits fell across the board in September, with the Northeast posting a 1.5% decline, the Midwest a 4.3% decline, the South a 4.7% decline, and the West a 10.6% decline.

by RISMEDIA, October 27, 2010

I like this video: 5 Tips for a Successful Home Inspection

A good real estate agent works with a professional and reliable home inspector. If you are in need of a home inspection for any home in the North Houston, Spring, The Woodlands, or Lake Conroe area, and would like a reference, please call us and we will direct you to an inspector you can trust. Call 936.447.6000 or contact us through our website the Lake Conroe Realty Now Contact Form.

"If only this room were bigger..."

When sizing up the spaces in our home, which one do you have that needs to be bigger? Most of us can answer that question immediately. There is that one room - that difficult space - where things do not quite fit. If only there were just a few more inches this way or that way... that would make all the difference in its usability, its comfort level, its wow factor!

Before you spend the big bucks knocking down walls, to create more room, consider that the space might not need those added inches after all, with the help of some inexpensive fixes. Get more room in your room, AND increase the value of your home, by first reviewing these ten considerations on how to cure the case of your cramped room.

10 Ways to Make a Small Room Look Larger

 
RISMEDIA, October 25, 2010--Most people have one: that room in the house that they wish was just a little larger. What many don't realize is that with a little work and some TLC, they could have exactly what they're looking for.

Here, Lowe's offers 10 designer tricks to help you make any room look larger:

1. For the illusion of a larger room, use a color scheme that is light rather than bright or dark. Pastels, neutrals and white are all color possibilities.

2. Use a monochromatic color scheme on the furniture, rugs and walls. Select different shades and textures of your single color.

3. Lighting is a key element in opening up a space. Recessed spot lighting is visually appealing and is perfect for a small space. A torchiere light is great for bouncing light off of the ceiling and back down on the room.Skylights and solar tubes are natural alternatives for adding light to a room.

4. Limit the number of accessories to avoid the cluttered feeling.

5. The floor and the ceiling are the fifth and sixth walls of every room. A light-colored flooring such as light oak or a light-colored carpet will make the room appear brighter and more open. The same applies to the ceiling—use a light color or white to "open up" the space above.

6. Increase the appearance of the size of the room by adding wall mirrors. They not only reflect images, they reflect light and color. Be a little daring! Use mirror tiles to mirror an entire wall. Your room will appear to double in size.

7. Don't place too many pieces of furniture in a small space. A love seat may work better than a full-size sofa depending on the size and shape of the room. Add two medium-sized chairs or two small wood chairs. Place the chairs closer to the wall and then pull them into the area when additional seating is needed.

8. Add paintings or prints to the walls. One large painting works better than a group of small paintings.

9. The visual balance of a room is also important. A large, brightly colored element can overwhelm a room and decrease the appearance of space.

10. A glass table, whether it is a dining, coffee or end table, will keep the appearance of an open and free space.

Try out these pointers, and see your difficult space be transformed to a more useful and more appealing area of your home. Certainly, if your motivation for altering your "problem room" is because you are putting your home on the market and want to make the space more appealing to potential buyers  then be sure to have a real estate agent that works with an efficient and professional home stager so that all of your rooms can be evaluated. Call the Lauri Kent real estate team at 936.447.6000 for professional and reliable assistance. Also visit our website for information on this and much more at LakeConroeRealtyNow.com.

Why the Housing Market is Experiencing "Buy Shy" And Its Implications On Home Value

If you are looking to buy a home, it is important to keep up with the current trends of buyers currently in the market -- it can help you find incredible deals. If you are trying to sell your home and wondering where all the buyers have gone to, you certainly need to equip yourself with knowing the economic landscape potential buyers have to navigate these days, and how you can best position yourself in front of them. Here is an article that pinpoints a lot of factors that explain the current level of wariness experienced by so may hopeful homeowners.

If you are a hopeful homeowner looking in the Houston area that needs some questions answered about how to have a successful home buying experience, give us Lauri Kent a call or email Lauri Kent at Lake Conroe Realty Now. Lauri also searches for incredible homebuying values in the Greater Houston market, and showcases some great value homes on Lauri's Super Affordable Real Estate Finds.

RISMEDIA, October 12, 2010--Nearly two-thirds of Americans say the current economic situation is making them less likely to buy a house, according to a new national survey by FindLaw.com (http://www.findlaw.com), a popular legal information website.

Sixty-three percent of American adults say they are less likely to buy a house because of the current state of the economy. Despite record-low mortgage rates and an abundance of houses available on the market, only 8 percent of people say the current economic situation makes them more likely to buy a house. About a quarter of people – 28 percent – say they are neither more likely nor less likely to buy a house because of the economy.

In particular, the current economy is driving lower-income individuals and families out of the market. People with annual incomes less than $50,000 were significantly more likely to say they are less inclined to buy a house than people with higher incomes.

"The current economic situation has greatly changed the dynamics of the housing market," said Stephanie Rahlfs, an attorney and editor with FindLaw.com. "Although mortgage rates are near record lows, stricter lending requirements are often making it more difficult for many people to obtain mortgages. High unemployment rates are raising concerns about housing appreciation, affordability and foreclosures. Together, these factors are causing many people to shy away from the idea of buying a house. Buying a home, selling a home and owning a home are all becoming more complicated, and it's important to know the ins and outs of contracts, finances and your rights as a buyer, seller or owner."

Free Internet resources such as the FindLaw Real Estate center (http://realestate.findlaw.com/) can provide helpful information on buying, selling and owning a home, including obtaining a loan, borrowers' rights, finding the best mortgage, homeowners' rights, avoiding foreclosure and more. It also has useful information for renters, including negotiating a lease, tenants' rights, and fair housing and discrimination laws.

The FindLaw.com survey was conducted using a demographically balanced telephone survey of 1,000 American adults and has a margin of error of plus-or-minus 3 percent.

The Latest Information On National Flood Insurance: Extended to 2011

It lapsed. 

It lapsed again.

And just when in September it seemed duty-bound to be a three-time lapse dog,  those elected representatives in DC surprised us all and finally did something about it. They extended National Flood Insurance for a year.

During lapses, existing flood policies remained in force for those who have them, but new policies could not be written or renewed. But now that President Barack Obama signed S. 3814 into law Thursday, we now have a federal flood insurance program that is in force through Sept. 30, 2011.

As a real estate professional, I always caution home owners that one of the only things a homeowner can absolutely control is the maintenance of their home -- and ensuring that they have thorough home insurance coverage in the event of a disaster.  IF you are in need of some direction on who to call to evaluate what kind of coverage you have, call me at 936-447-6000 and browse the information available on my website at Lake  Conroe Realty Now.

Here is the official word from the National Association of REALTORS® about it:

National Flood Insurance Extended Through 2011
The National Association of REALTORS® is pleased to report that Congress has unanimously approved a one-year extension, until Sept. 30, 2011, for the National Flood Insurance Program (NFIP). A long-term extension has been a top legislative priority for NAR. Earlier in 2010 the NFIP lapsed, causing major disruptions for REALTORS®, and with the Sept. 30 deadline fast approaching, NAR redoubled its efforts to extend the program.

REALTOR® advocacy efforts helped make the long-term extension a reality. When Congress returned to Washington, D.C. in mid-September, NAR was waiting with its federal political coordinators who came to D.C. to meet with key senators and urge the long-term extension. Additionally, on Sept. 22 NAR was ably represented by Maryland REALTOR® Nick D’Ambrosia. He stressed to the Senate Committee on Banking NAR’s commitment to extend and strengthening the program beyond 2011 for the long-term. While the one-year extension brings a level of certainty to the NFIP, there needs to be comprehensive reform measures to place the NFIP on more sound financial footing for at least another five years.

Flood Insurance Timeline

Sept. 21, 2010 S. 3814 Approved by Unanimous Consent in the Senate

Sept. 23, 2010 S. 3814 Approved by Voice Vote in House of Representatives

The bill now heads to President Obama for his signature as soon as next week. With program authority now extended for a year, it is expected that attention will turn to proposals to reform and ensure the financial soundness of the NFIP. While the House passed its reform bill (H.R. 5114) earlier this year, it is unlikely that a comprehensive reform bill will move until the 112th Congress goes into session next year.

Source: NAR

I would be honored to help you with real estate needs in the North Houston area. Feel free to give me a call at 936-447-6000 to set up a one-on-one consultation or a showing of the real estate properties that I have available.  You can also reach me with any real estate questions that you may have through my Contact Us page.

What You Can Learn From My Home Inspection Professional

As you might expect, even in the world of real estate each professional is only as good as the team of professionals that contribute to the objective of the successfully bought or sold home. I am delighted to have such a team. Integrity is a Lauri Kent Lake Conroe Realty Core Value, and integrity covers not just a general work ethic, but also involves evaluating and protecting that structure and quality of your home. A Total Inspection is my home inspection company, and they have offered a few tips that could help you!

Inspection Trivia

What contributes to some of the biggest problems with houses today?

A Total Inspection Answer: Water
From plumbing leaks to clogged gutters and poor grading. Plumbing leaks need to be repaired and outside rain water needs to be controlled. Water is the silent killer; mold, mildew, foundation failure and termites can be attributed to failure to control water.

Is high water pressure good or bad for a house?

A Total Inspection Answer: Bad
Water pressure should range between 40 and 80 PSI. Water pressure over 80 PSI can cause problems. High water pressure can find a weak link in the plumbing system and can burst. The weak link might be a plastic part in a dishwasher, toilet, or the black hoses on the washing machine. When the part burst, water will run until it is shut off. Running water can do a lot of damage in a very short period of time. The good news is water pressure can be corrected with a pressure relief valve for a very little amount of cost.

What are some of the causes of heat loss in a home?

A Total Inspection Answer: Un-insulated attic access hatches and fireplace dampers.
The attic access hatch should be covered with a piece of insulation. Fireplace dampers left open is like keeping a 48 inch window wide open during the winter; it allows warm air to go up the chimney. Also exterior doors that are not weather stripped and sealed properly.

Can you have too much insulation in your attic?

A Total Inspection Answer: Yes
It is recommended that you have 12 to 14 inches of insulation in your attic. The first 6 inches is most important as it retards 70% of heat loss. Over 14 inches of insulation isn't

necessary.

What is the biggest problem with Electric?

A Total Inspection Answer: Corroded and improperly sized circuit breakers.
Electric is very dangerous and is often ignored. Dampness in an electric box can corrode circuit breakers in the on position preventing them from tripping when overheated. Wires can be improperly sized to circuit breakers.  Also outlets that are within 6' of a sink or outlets in the garage and on the exterior part of the house should be protected By GFCI circuits to prevent possible electrical shock, (Remember safety, safety, safety)

So is your house ready to pass inspection?  Make sure that if you are selling your home, make sure you have a team of real estate experts that will make sure you don't have any last minute complications to the selling or the price point of your home. If you are in the market to buy a home, trust Lauri Kent with Lake Conroe Realty Now to help you find a house of high integrity!