NEW TERRITORY MARKET ANALYSIS

New Territory is a master planned community in Fort Bend county in Sugar Land, TX. New Territory built on 3200 acres including 450 acres of parks, lakes and recreation centers.

There is 4600 homes and minutes away from shopping centers and restaurants. Here is the market analysis as of 2/6/2013

Homes for Sale: 28
Asking Price: $148,000 - $675,000
Homes under contract: 15
Foreclosures or Short Sales: 3
Homes SOLD in the last 6 month: 115
Average Sale Price to Asking Price: 97%
Average Days on Market: 55 days
Average Price per Sq.Ft.: $88.89

Click here to see all the homes for sale in New Territory and Sugar Land TX. For more information about the market analysis in your neighborhood, please feel free to contact me any time for FREE consultation.

Jimmy Farag, Realtor
Realm Real Estate Professionals
Phone: 832-303-5000
Cell: 832-744-7424
Fax: 281-598-5402
Homes for sale in Sugar Land
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Housing Market Analysis in Riverstone and Sugar Land

Riverstone & Sugar Land  MARKET ANALYSIS
This is the market activity in Riverstone Subdivision and Sugar Land TX in 2012 as of 1/14/2013
	Riverstone	Sugar Land
Homes for Sale	62	355
List Price	$259,500 - $1,699,000	$59,900 - $6,500,000
Houses Under contract (As of 1/14/2013)	98	284
Houses SOLD in 2012	124	1937
Sale Price to List Price	94%	95%
Average Days on Market	90 days	(Varies from one neighborhood to another)
Average Price per Sq. Ft.	$106.72	(Varies from one neighborhood to another)
Foreclosures or Short Sales	None	34
% of Foreclosure of Homes for Sale	N/A	5.68%
This information is about the Homes in Riverstone and Sugar Land, 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.   Riverstone is a master planned community located in Fort Bend county. The community is very large it covers two cities, Missouri City and Sugar Land. Riverstone has over 200 acres for lakes and over 500 acres just for open space, parks and other amenities. Riverstone is planned to have 6,000 houses being built by a dozen of well known builders and the homes are priced from the $200s range to over a million.
For more information, contact Jimmy   Jimmy Farag, REALTOR Realm Real Estate Professionals Phone: (832) 303-5000 Cell: (832) 744-7424 Fax: (281) 598-5402 Homes for Sale in Sugarland Sell Your House Fast Foreclosed Homes

Selling Your House during the Holidays?

Got a question from a homeowner asking "Is it a good idea to sell my house during the holidays?"
I believe it is a great idea to sell your home during the holidays season and here is why

• People who are looking at houses during this period are more serious buyers.
• Most home sellers take their homes off the market thinking that people are spending their money elsewhere which means there is less competition for the sellers and fewer homes for the buyer to choose from. In turn, higher chances to get a good offer on your house.
• After the holidays, many home sellers will put their houses back on the market and the inventory of homes will increase which means buyers will have more homes to choose from and most probably you might get less money for your house because you might need to drop the price to compete with the other houses in the market.
• People take lots of days off during the holidays and serious home buyers have more time to look at houses.
• Houses always feel more warm and show good with the Christmas decorations.
• Many people have their lease over by the end of the year and would like to move and spend the Christmas in their new home.

These are just some of the reasons I believe it is a good idea to sell your house during the holidays.
For more information, contact Jimmy
Jimmy Farag, REALTOR
Realm Real Estate Professionals
Phone: (832) 303-5000
Cell: (832) 744-7424
Fax: (281) 598-5402
Homes for Sale in Sugarland TX
www.SellMyHouseJimmy.com
www.HoustonHomesforSale-Here.com
www.HoustonForeclosureHomesFree.com

Americans Get More Confident About Home Buying

Americans Get More Confident About Home Buying

Want to make an offer, How low can I offer?

Everybody wants to get a good deal which is normal and understandable. BUT there is a difference between making an offer and insulting the seller.
The market in Houston is different than the rest of the country and it is way better than the national averages that they talk about on the news. We don’t have the 30-40 cents on the dollar type of deals. Let me rephrase that, we have them but very very very few and most probably will be in horrible condition to sell for that amount and will not even qualify for finance. AND the market is improving. So it will be harder and harder to negotiate.
So what is a reasonable offer?
You will have to check the average price in the neighborhood to see if the house is overpriced, within range or already below the average. If it is:
· Overpriced: I would say don’t bother to make an offer, it is either a seller who loves his house too much or not motivated. Either way, don’t bother, 99% of the time, it doesn’t sell
· Within range: The average negotiation in Houston is 3-5% and can be a little higher if the house is not in a good condition.
· Below average: Usually foreclosures and short sales, if it is already in a good condition, I would recommend offering the full price. It is already a good deal so making low offer might not be the smartest move because most probably you will not get it.
In the Houston market, if you are looking to offer 20-30% less than the asking price under the impression that the sellers or banks are desperate and should be happy to get an offer. Sorry to tell you that you are so wrong and you will be very frustrated getting rejected on each offer after the other.
Houses that are priced right or below the average are getting multiple offers in their first week on the market. Last week, a client wanted to see a house on its 2^nd day on the market and turned out that they already had 3 offers …….3 offers in 2 days and many of these houses sell for higher than the asking price.
I have tons of examples but will share them later. I am writing this for all the buyers who started looking for houses to know what to expect so they wouldn’t be frustrated and in some situation, people gave up because it didn’t the way they were expecting.
Jimmy Farag, REALTOR
Realm Real Estate Professionals
Phone: (832) 303-5000
Cell: (832) 744-7424
Fax: (281) 598-54
Homes for Sale in Sugarland TX
www.SellMyHouseJimmy.com
www.HoustonHomesforSale-Here.com
www.HoustonForeclosureHomesFree.com

Why My House Didn’t Sell??

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

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

See All Homes for Sale in the Houston Area

Thanks,
Jimmy Farag, REALTOR
Realm Real Estate Professionals
Phone: (832) 303-5000
Cell: (832) 744-7424
Fax: (281) 598-5402
Homes for Sale in Sugarland TX
www.SellMyHouseJimmy.com
www.HoustonHomesforSale-Here.com
www.HoustonForeclosureHomesFree.com

I Want to Sell My House, How do I Start?

I will not talk about curb appeal, paint, staging, etc..because that is given that you have to keep your house in tip-top shape to sell, there is a very important critical point that hold your house from selling.

DO NOT OVERPRICE YOUR HOUSE!!
DO NOT OVERPRICE YOUR HOUSE!!
DO NOT OVERPRICE  YOUR HOUSE!!

You can paint the whole house with beautiful neutral color, upgrade the kitchen's counter tops, cabinets, new carpet or hardwood floors and spend a lot of money, BUT if the price is too high, it will not sell. Would you pay $40,000 for a car that is selling everywhere for $25,000?

I will share with you just one example from real life, not just bunch of yada yada :)

A seller had his house in a great shape, regular maintenance, has upgrades which is perfect and was listed for $205,000. Similar homes in the same subdivision were listed in the 180s. Can you look at it from the buyer's point of view just by looking at the houses info on the MLS. Oh! both are 3 bedrooms 2 baths, hmmm same square footage and all of them been more than 5 months on the market. Buyers will pass on your house and will not see it. That is reason ONE not to overprice.

Reason TWO, still about the same house in the example above, the last house sold in the neighborhood for the same size was appraised for $172,000 (No wonder all of them been on the market for more than 5 months). Do you know what does that mean that it's been appraised for that amount??

Let's look at the buyer' side again and his mortgage:

Assuming the buyer will pay 10% down payment.
The Bank will lend him 90% of the lesser of the appraised price or the contract price: which means in this case that the bank will lend the buyer 90% of the $172,000 not the $205,000 because the bank said that is the real value of the house. Do you think the buyer will pay an extra $30,000?

After they had their house listed for 7 months with very few showings and no offers, they listed the house with me, we got offers in less than 2 months and it was sold in 70 days!! Yay :) 

We can't blame the market being bad or that there are no buyers in this economy or the realtor didn't market the house right. There was more than 53000 single family homes (not including townhomes & condos) sold in the Houston Area in 2011 and around 46000 sold in the first 9 months of 2012. These are big strong numbers!!

Feel free to contact me any time for your home market analysis or any other questions you have

Jimmy Farag, REALTOR Realm Real Estate Professionals Phone: (832) 303-5000 Cell: (832) 744-7424 Fax: (281) 598-5402 Homes for Sale in Sugarland TX and Missouri City Homes for sale in Katy TX See All Foreclosure Homes