Homes for Sale in Sugarland TX: homes for sale in sugarland tx

Thursday, June 28, 2012

Are Houses Selling in Houston?

Are Houses Selling in Houston?

With the uncertainty in today's economy, home sellers are wondering if the houses are selling in the Houston area.

I would like to tell you that the Houston Market is strong and not like the east and west coasts. Home prices might have dropped in some areas because of foreclosures and short sales but we are talking about 10-15% of the whole real estate market in Houston.

Here are the homes sold sorted by price range in the Houston Area in 2011 compared to the home sales in 2010

Price Range	2010	2011
Up to $100,000	12,073	13,462	12%
$100k to $200k	21,333	20,774	-3%
$200k to $300k	8,920	9,300	4%
$300k to $400k	4,015	4,415	10%
$400k to $500k	2,070	2,185	6%
$500k to $600k	1,024	1,099	7%
$600k to $700k	674	705	5%
$700k to $800k	377	433	15%
$800k to $900k	274	321	17%
$900 to $1M	199	224	13%
$1M to 1.5M	437	463	6%
$1.5M to 2M	161	154	-4%
$2M +	127	143	13%
Total Homes Sold	51,684	53,678	4%

Currently, the market has a shortage supply which are the houses for sale and good houses can be sold in 10 days.

Would you like to know if houses are selling in your area, please feel free to contact me

See All Homes for Sale in the Houston Area

Wednesday, June 15, 2011

What is Earnest Money?

In buying or selling a home, buyers and sellers might be confused because of all the different new terminology used. Sellers don’t remember the terminologies and need refreshment and a first time buyer might need a dictionary to help them.

What is Earnest Money?

When a buyer offers to purchase a home, the offer usually includes Earnest Money.

Earnest Money is to demonstrates to the seller that you are serious and interested in buying the home.

Many agents would say that “Earnest Money is one percent of the offer price of the home”, I would say that it is negotiable and depends on how interested you are in the house. I had a buyer who offered 25% earnest money to show how interested he is in the property. In Texas, earnest money is usually paid to the title company within 2 days of the executed contract. (Executed contract is when buyer and seller have the contract signed by both parties)

Buyers are always wondering what will happen to the money in case they decided to buy or not to buy.

In case, buyers decided to continue with the contract and buy the house, the earnest money will be used as paid amount towards the price of the house (as it is part of the downpayment) and you will be able to see it on the HUD statement at closing.

In case, buyers decided to terminate the contract, it will depend on the terms of the contract. For example, when you make the offer, you request an option period of 10 days (A negotiable period of time that can be 7 to 10 days of the execution date). If you terminate the contract in day 5, you can get your money back. If you terminate the contract in day 11, you will lose your money.

It is very important to have a Realtor helping you in the process to explain the details in the contract and do the negotiation part for you and make your real estate transaction as smooth as possible.

I am a real estate professional representing buyers and sellers, my job is to do the best of your interest.

For more information, contact Jimmy

Jimmy Farag, REALTOR

Realm Real Estate Professionals

Phone: (832) 303-5000

Cell: (832) 744-7424

Fax: (281) 598-5402

Tuesday, June 14, 2011

Missouri City Home Prices & Sales in 2011

MISSOURI CITY MARKET ANALYSIS

This is the market activity in Missouri City in 2011 as of 6/14/2011

Homes for Sale

667

Foreclosures or Short Sales

102

% of Foreclosure of Homes for Sale

15.29%

New Construction Homes

List Price

$40,000 - $1,800,000

Houses SOLD in 2011

437

Sale Price

$32,500 - $1,200,000

Average Days on Market

87 days

Average Price per Sq. Ft.

$89.45 *

* This information is about all the Homes in Missouri City TX, the analysis can vary from one neighborhood to another. For more information about the market analysis in your neighborhood, please feel free to contact me any time for FREE consultation.

For more information, contact Jimmy

Jimmy Farag, REALTOR

Realm Real Estate Professionals

Phone: (832) 303-5000

Cell: (832) 744-7424

Fax: (281) 598-5402

Tuesday, May 17, 2011

Sugar Land Market Analysis

SUGARLAND MARKET ANALYSIS

Homes for Sale

860

List Price

$43,000 - 3,495,000

Houses Sold

306

Sale Price

$45,000 - 2,950,000

Average Days on Market

72 days

Average Price per Sq. Ft.

$81.13

This information is about all the Homes in Sugarland TX, the analysis can vary from one neighborhood to another. For more information about the market analysis in your neighborhood, please feel free to contact me any time for FREE consultation.

You can also see all the Homes for Sale in Sugarland

Search by

Zip Code: 77478 - 77479 - 77498

Neighborhood: Avalon, Barrington Place, Greatwood, New Territory, Sugar Creek, Sugarmill, Sweetwater, Telfair

For more information, contact Jimmy

Jimmy Farag, REALTOR

Realm Real Estate Professionals

Phone: (832) 303-5000

Cell: (832) 744-7424

Fax: (281) 598-5402

Why My House didn’t sell?

Why My House didn’t sell?

If you are asking this question that means that your house was either listed with a realtor or listed as For Sale By Owner (FSBO) didn’t sell. Getting phone calls from realtors the day the listing of your house expired telling you “we know why your house didn’t sell”? Others calling telling you “A house like this can be sold for $20,000 more”? OR Your asking price is way too high?

Honestly, I can’t tell you why your house didn’t sell without seeing it. There are many conditions that can be the reason for not selling. It can be the location, the condition of the house, the age, the upgrades, the floorplan, size of the yard, even a pole in the backyard can affect the price.

Location: Most of the buyers prefer houses that are in a cul-de-sac or a quiet neighborhood that is safe for the kids. If you are on a busy street or a busy street passing behind your house, that a negative point that has to be considered in the price.

Condition: When we are talking about condition, we are talking about the outside and the inside. Most homeowners maintain the inside and forget about the outside. The outside appearance is the first impression about the house. Many buyers drive around to see the area and how it looks from the outside before calling their agent for showing. Do you do regular treatment for termites and insects? Do you check the condition of the roof and foundation?

Upgrades: There is a difference between upgrades and maintenance. If your water heater is old and you change it, that a maintenance and is not a reason for a higher house price. Let’s think about it the other way, if you don’t replace the water heater, you will have to drop the price or give the buyer credit for it, but if you replace it, that will keep your house at the market price. Upgrade is changing the carpet with hardwood floors or laminate countertops with granite.

Foreclosures: Is there any foreclosed homes for sale or sold in the last 6 months in your neighborhood? Sold foreclosures can affect the market value of your house even if your house is in a better condition. Current foreclosures are your competitors in the market because banks price them to sell fast and noticed that many of them now drop their price every month, it can be an aggressive drop, $10,000 for couple of month and then starting dropping it by $5000.

These are just some reasons, it can be different from one house to another. So before you ask yourself why your house didn’t sell, check the competition, the condition, the location and if the price is matching accordingly. The price has to be the market price not just the price you want to get.

I hope that this blog is an eye opener for you and has some AHAs for you.

Please feel free to contact me any time.

Thanks,

Jimmy Farag, REALTOR

Realm Real Estate Professionals

Phone: (832) 303-5000

Cell: (832) 744-7424

Fax: (281) 598-5402