I'm often asked "when" is the best time to sell my house?  Although simplistic, the best time is when you are ready to sell it.  First of all, it is rare to sell a house that isn't on the market; thus, getting it on the market lets potential buyers know that it's a possibility to consider when house shopping. Let's face it, in the Greater Houston area there are always people buying and selling houses.  No matter what the media says about the market, there are buyers and sellers in the marketplace.  And when it's time to sell yours, we're not looking for hundreds or thousands of buyers . . . rather, we're looking for just one.  So with our targeted marketing plan, we aim to find the one buyer for your home.  And now we have the impending winter advantage, so now may be the time for you!  Ready to get started?

THE NEW RULES OF REAL ESTATE!   (Part 1)   Have you heard? The news has been ablaze about us crazy real estate agents changing the rules of engagement in the real estate business.  But wait!  We didn't do it this time either.   A major lawsuit claimed that the National Association of REALTORS and its members have colluded for many years to "set" fees in stone. And some home sellers won a class-action lawsuit that upheld this notion that real estate fees are set and fixed by some REALTORS and are not negotiable.   Whaattt???  This is my 49th year as a REALTOR and I've never colluded with anyone about the fees we charge.  In fact, real estate fees have always been negotiable.  But now with this new settlement, everyone must know that REAL ESTATE FEES ARE NEGOTIABLE.  And these homesellers no longer want to pay the buyer agents -- "let the buyers pay their own agents," they say.  Great idea, if the buyers had the money.  Some do, but most don't.  But now, BEFORE YOU LOOK AT HOUSES, you must SIGN an agreement that establishes how your agent will be paid by whom and how much.     So get ready for how this will make it better.  You want to see a house -- you must sign an agreement before an agent can show it to you.     You want to sell your house -- you must negotiate a fee with your agent AND decide whether or not you will offer some type of compensation to an agent who brings you a buyer.     The good news is that you can actually screen your agent better and find one with experience to guide you down the path of buying and selling. Get a proven negotiator who can help you get a great home at a great rate!  And handle the details . . . . just what you want.  But shop around for the best agent who can help YOU!   (. . . to be continued . . .)

Baby Boomers' Wave to Downsize As the first groups of baby boomers gracefully rides the wave of aging, they are setting new trends in the housing market, giving birth to what experts fondly refer to as the "Silver Tsunami." This phenomenon is not merely about a change in address; it's a lifestyle transformation tailored to meet the unique needs of the golden years. With approximately 10,000 people reaching the age of 65 every day, the United States is witnessing an unprecedented demographic shift. By 2030, all baby boomers will have passed this milestone. Among these remarkable statistics, the AARP's estimate stands out: a staggering 74% of total U.S. homeownership belongs to individuals over 50, with more than half of this demographic opting for downsizing their home as a strategic move. The Silver Tsunami is, in essence, a testament to the demographic strength of the baby boomer generation. Born between 1946 and 1964, this generation has played a pivotal role in shaping American society at every stage of life. Now, as they embrace their senior years, they are reshaping the real estate landscape. Downsizing has become a prevailing trend among this generation. One of the fundamental aspects of this is the desire for aging Americans to remain in their homes, a concept known as "aging in place." However, this doesn't necessarily mean staying in the same large family home that has seen decades of memories. Instead, it often involves downsizing to a more manageable, efficient, and accessible living space. The statistics are a testament to the appeal of downsizing among this generation. AARP estimates that a whopping 74% of homeownership in the United States is held by individuals over the age of 50. Additionally, more than 51% of people in this age group have already made the move to downsize. The reasons behind this paradigm shift are as diverse as the individuals making it happen. For some, it's about financial prudence ... reducing the costs and maintenance associated with larger homes. For others, it's the desire for a simpler, more manageable lifestyle that allows them to focus on experiences rather than possessions. Accessibility and health concerns also play a significant role, with many opting for homes that are designed to accommodate mobility challenges. Downsizing is having a profound impact on the housing market. It's not just about the scaling down trend; it's also about the types of homes that are in high demand. Single-story residences, condos, and communities with amenities tailored to an active older population are experiencing increased interest. Builders and real estate developers are adapting to these evolving preferences, creating more accessible, age-friendly housing options. It is not merely a demographic shift; it's a testament to the baby boomer generation's determination to embrace their golden years on their terms. Downsizing is just one facet of this multifaceted trend, and it's changing the way we think about aging and housing. As the silver wave continues to ripple through the real estate market, it's essential for homeowners and industry professionals alike to be aware of these evolving preferences. One way to find out about your options is to determine the value of your current home and its equity to facilitate the change in housing.  Contact us to provide this service at no obligation as well as to inform you what is available to meet your wants and needs.

Bridging Wealth Gaps: Homeownership's Stand Against Inflation   When exploring the benefits of homeownership, it's more than just having a place to call your own. Among its many advantages, homeownership stands as a formidable safeguard against inflation and a strong vehicle for long-term wealth accumulation. This article will delve into the dynamics of appreciation and amortization, explaining why owning a home can be one of the most impactful financial decisions you can make. Inflation, the overall upward price movement of goods and services in an economy, erodes the purchasing power of money. In simpler terms, as inflation rises, each dollar you have buys a smaller percentage of a good or service.  The same inflation that is driving rising mortgage rates is putting upward pressure on home prices. Over the past sixty years, homes have appreciated in value at an annual appreciation rate of 5.56% according to the Federal Reserve Economic Data.  As a homeowner, you want to benefit from the appreciation.  Inflation for the same period averaged 3.7% (Bureau of Labor Statistics) making homes an effective hedge against inflation. Real estate, unlike many other assets, is a tangible, real asset. History has shown that over the long term, the value of real assets tends to rise at a rate that at least matches, if not outpaces, inflation. So, as the price of goods and services increases, so does the value of real estate, making homeownership a strategic move against inflationary pressures. With a fixed-rate mortgage, your monthly principal and interest payment remains constant. As a result, while other costs may rise due to inflation, your primary housing cost (if you exclude taxes and maintenance) remains stable, shielding you from the full impact of inflation. Home appreciation refers to the increase in the home's value over time. Given the finite nature of land and the ever-growing demand for housing, especially in thriving areas, real estate often appreciates. This appreciation can result in substantial equity gains for homeowners, creating a form of 'forced savings' and making it a powerful tool for wealth accumulation. Amortization has been considered the silent wealth builder.  Each time you make a mortgage payment, a portion of that payment goes toward the loan's interest, and the rest pays down the principal, thus retiring your debt incrementally. This process means you're gradually building equity in the home with each payment. Over time, a larger portion of your payment goes towards the principal, accelerating your equity buildup. Combined, appreciation and amortization can lead to significant wealth growth for homeowners. As the home's value rises and the mortgage balance decreases, homeowners often find themselves sitting on a substantial asset, which can be leveraged in various ways, from securing loans to planning retirements. While the emotional and social benefits of homeownership are often celebrated, the financial benefits are equally compelling. In a world of economic uncertainties and inflationary pressures, owning a home emerges not just as a source of stability but also as a strategy for long-term financial prosperity. By understanding and leveraging the twin forces of appreciation and amortization, homeowners can pave a path to meaningful wealth accumulation even during periods of relatively high mortgage rates.

Current Market Condition 226 Active Listings 96 Pending Listings $400,000 Median List Price View Properties for Sale Find Out Your Home Value The median sale/list price for 2023 ranged from $335,000 to $399,000, with the highest prices in February and May. The prices fluctuated throughout the year, with a peak in April and a dip in July, but ultimately ended the year slightly higher than they began. Median Sale/List Price List Price Sale Price The median sale price per square foot for the first month of 2023 was $149.562, which increased steadily over the next few months, reaching a peak of $164.773 in August before decreasing slightly towards the end of the year, ending at $156.741 in December. Median Sale Price per Square Foot The median sale price to list price ratio shows a steady increase from January to April, reaching a high of 0.99. There is a slight dip in August and September before rising again in October and November, reaching the highest point of 1.0 in November. The year ends with a ratio of 0.981 in December. Overall, the ratio remains above 0.97 throughout the year, indicating that on average, properties are selling for close to their listed price. Median Sale Price to List Price Ratio In 2023, the number of properties sold/listed increased steadily from January to May, peaking at 189, before gradually decreasing for the rest of the year, reaching a low of 93 in December. The number of properties listed for sale was generally lower than the number of properties sold, with the exception of March and July where the number of listings exceeded the number of sales. Properties Sold/Listed Properties Listed Properties Sold The median days on market for homes decreased from 61.5 in January to 44 in April and remained stable at that level until August before increasing again to 56 in September and averaging around 53 for the rest of the year. Median Days on Market

Which types of showings work A showing is an opportunity for a buyer to determine if a home is right for them. Each of the different types of showing plays a valid and necessary role in marketing the home. Some buyers may start by looking at homes online, which can lead them to drive by the home to see if it still meets their interest before they schedule a showing. Online showing: This is when a buyer looks at a home's listing online, including photos, videos, and a description. This can be a great way for buyers to get a general overview of a home and see if it is worth scheduling a showing. Drive-by showing: This is when a buyer drives by a home to see it in person. This can be a good way for buyers to get a feel for the neighborhood and the surrounding area. It can also be helpful for buyers to see the home's size and layout from the outside. In-person showing: This is when a buyer schedules a time to visit the home with a real estate agent. This is the best way for buyers to get a true sense of the home and see if it is right for them. Buyers can ask the real estate agent questions about the home and the neighborhood. They can also walk through the home and get a feel for the space. Virtual Showing: Virtual Reality (VR) can be used to stage, remodel, or update a home for sale by creating realistic images of what the home could look like with different furniture, appliances, paint colors, countertops, or flooring.  By creating images of the home in different staging scenarios, the agent can show potential buyers the potential of the home and how it could be used. Each one of these types of showings contributes to the marketing of a home.  By offering different types of showings, a seller can reach a wider audience of potential buyers and increase the chances of selling their home quickly.

Discover how to go from stress to success with your home move Navigating a real estate transaction, which often involves substantial financial investments and emotional considerations, can understandably induce stress. To streamline this process, adopt these effective strategies that promote a smoother journey. Begin by clearly outlining your primary motivations for either buying or selling a property. By eliminating distractions and maintaining a focused perspective, you can mitigate potential anxieties. For instance, if your primary goal is to secure more space for your family, evaluating properties without this essential feature becomes a straightforward decision. Whenever feasible, allocate ample time to prevent hasty decisions or setting unrealistic deadlines. While external factors like a sudden job relocation or a booming market might necessitate swift responses, it's crucial to differentiate between preparedness for action and arbitrarily shortened time frames. Remember, orchestrating a successful transaction requires coordination with other involved parties such as title and mortgage companies, appraisers, surveyors, inspectors and possibly, attorneys. The ability to expedite your actions doesn't necessarily imply that others can adhere to such accelerated timelines. Anticipate encountering a few unexpected things during your home buying or selling journey. Recognizing the potential for sudden surprises can alleviate some of the pressure when they arise. When challenges do surface, counterbalance these concerns by reminding yourself of the favorable aspects associated with relocating, such as a home more conducive to your current lifestyle, a more convenient location, or other opportunities. The ultimate strategy to alleviate stress when engaging in real estate transactions lies in partnering with a seasoned REALTOR� who possesses the expertise to navigate you through each step of the process, thereby facilitating the realization of your real estate aspirations. For more information, download our Buyers Guide.

The Net Worth Advantage: Homeowners vs. Renters The decision to rent or own a home is not just about having a place to live; it also has significant implications for your financial future. One key aspect that often comes into play is net worth ... the value of your assets minus your liabilities. Numerous studies and statistics highlight a compelling trend: homeowners tend to have higher net worth compared to renters. The numbers according to the Federal Reserve's Survey of Consumer Finances confirms the belief that homeownership has long been associated with wealth accumulation.  The median net worth of homeowners is 40 times higher than that of renters. This discrepancy can be attributed to several factors that favor homeowners, including equity buildup, property appreciation, and forced savings through mortgage payments. Homeownership allows individuals to build equity over time, which is the difference between the home's market value and the remaining mortgage balance. Every mortgage payment with amortizing loans contributes to this equity, leading to a gradual increase in homeowners' net worth. On the contrary, renters do not benefit from this form of forced savings, as their monthly rent does not result in any ownership stake. Historically, real estate has proven to be a valuable investment, with properties appreciating in value over the long term. Homeowners enjoy the potential for capital appreciation, which can significantly boost their net worth. In contrast, renters do not participate in the appreciation of the property they live in and miss out on this wealth-building opportunity. Homeownership also comes with tax benefits, such as deductions for mortgage interest and property taxes but with such a high portion of taxpayers electing to take the standard deduction, the more important tax benefit is the capital gains exclusion.  Homeowners can exclude up to $250,000 of the gain on their principal residence if single and up to $500,000 if married filing jointly. During the five-year period ending on the date of the sale, the taxpayer must have owned and lived in the home for at least two of the past five years. These advantages contribute to lowering the overall cost of homeownership and increasing the financial cushion for homeowners. Owning a home can have positive implications for retirement readiness. As homeowners pay down their mortgages, they are essentially building a valuable asset that can be leveraged in retirement. Borrowing against one's home is not a taxable event.  The proceeds could be used for any reason.  Furthermore, owning a home outright eliminates the need for monthly rent payments during retirement, providing greater financial security. Additional sources to support the claim that homeownership has net worth advantages include: The National Association of Realtors regularly releases reports that analyze the financial benefits of homeownership, including equity accumulation and property appreciation. The Case-Shiller Home Price Index tracks changes in the value of residential real estate, offering insights into property appreciation trends over time. U.S. Census Bureau data offers a broader perspective on homeownership rates, wealth distribution, and their impact on net worth. The numbers speak for themselves ... homeowners tend to enjoy a higher net worth compared to renters. The combination of equity building, property appreciation, tax advantages, and retirement preparedness contribute to this financial advantage. While individual circumstances vary, it's clear that homeownership offers a pathway to building wealth and securing a more robust financial future. For more information, download our Homeowners Tax Guide.

Your Referrals Mean the World to Us Referrals are the lifeblood of any business, and real estate is no exception. When someone you trust refers you to a service provider, you're more likely to do business with them because you know that they've been vetted by someone you know and trust. That's why we're so grateful for the referrals we've received from our past clients. It's a wonderful feeling to know that our work has been so appreciated. If you know anyone who's thinking of buying or selling a home, please don't hesitate to refer them to us. We'd be honored to help them. We're a team of experienced real estate agents who are passionate about helping people find their dream homes. We have a proven track record of success, and we're dedicated to providing our clients with the best possible service. If you know anyone who's thinking of buying or selling a home, please refer them to us. We're known for our excellent customer service and willingness to go the extra mile to help our clients achieve their goals. Thank you for your referrals! They mean the world to us.

Awareness is Key to Safeguarding Against Scams When it comes to safeguarding against scams, awareness is key. By being vigilant and recognizing consistent red flags, you can effectively thwart scammers in their tracks. Stay one step ahead and keep an eye out for these warning signs to protect yourself from falling victim to fraudulent schemes. Unexpected contact - You receive unanticipated contact by phone, text, or email from an individual or organization regarding an invoice, order, delivery, or charge that you don't know about. Sense of Urgency - Scammers employ tactics to manipulate and create a fabricated sense of urgency, resorting to rude or aggressive language to pressure you into taking immediate action. Unusual Payment Requests - Be cautious if someone asks you to make payments or send money through unconventional methods such as gift cards, cryptocurrency, payment apps, or online wire transfers to deceive you into paying for something, resolving a fabricated issue, claiming fake sweepstakes winnings, or promising unrealistically high returns on investments. . Coercive Communication - threatening language, claiming that you owe money and using scare tactics like threatening to involve the police if immediate payment is not made. Love Scam Trap - Watch out for a potential online love interest who showers you with romantic words but avoids meeting face-to-face. Be cautious of these "romantic emergencies" and avoid sending money to someone you haven't met in person. Homebuyers Specific ... Particularly during the closing process, scammers employ deceptive tactics by sending fraudulent emails to homebuyers, impersonating trusted individuals such as the real estate agent, settlement agent, or legal representative. These spoofed emails contain fictitious instructions for wiring closing funds, putting unsuspecting homebuyers at risk of financial loss. Always verify with your agent and another trusted individual like a settlement or mortgage officer that the request for funds is legitimate before transferring money. If you feel that you have become a victim of such a scam, contact your bank or wire-transfer company immediately to ask for a wire recall.  Responding as soon as possible may increase the likelihood you'll be able to stop the transfer and/or recover your funds. For more information, see Mortgage Closing Scams on the Consumer Financial Protection Bureau website. If you want to report a suspected crime, contact the Internet Crime Complaint Center or IC3.  The nation's central hub for reporting cyber crime is run by the FBI, the leading federal agency for investigating cybercrime.  Go to their website for more information and to file a complaint.

How to Buy Your First Home as an Investment and Retire Rich As young people enter the full-time workforce and begin to think about living on their own, it may not seem practical or wise to consider buying a home.  However, it may be a pivotal decision for your financial security and future retirement. Rents are going to increase based on the shortage of rental units needed for the demand of the market.  Buying a home is a way to control those costs and even provide income by converting it to a rental as you decide to move up into another home. There is an advantage to buying a home before a person gets married, starts a family, and has their standard of living at a higher pace.  Their expenses are lower, and it is easier to not only qualify for a loan but possibly, take advantage of programs for down payment assistance, grants, or other options like gift funds or co-signers. Purchasing a home is a significant financial decision, particularly for first-time homebuyers. However, there are several benefits to buying a home early in your career, even if it is not your dream home. One of the most significant benefits of buying a home as an investment is that it can help you build equity. Equity is the difference between the value of your home and the amount you owe on your mortgage. As your home's value increases, so does your equity. This can be a valuable asset in the future, as you can use it to finance other investments or retirement expenses. Another benefit of buying a home as an investment is that it can generate passive income. If you rent out a room or two in your home, you can use the rent to help cover your mortgage payments and other expenses. This can free up your disposable income to invest in other areas, such as your retirement savings. Of course, there are some risks associated with buying a home as an investment. The value of your home may not always increase, and you may have to deal with unexpected expenses, such as repairs or maintenance. However, the potential benefits of homeownership can outweigh the risks, particularly if you are strategic about your investment. When choosing a home to purchase as an investment, it is important to consider the location. A home in a desirable area that is likely to appreciate in value over time is a wise investment. It is also important to consider the size of the home. A home with three or four bedrooms will be easier to rent than a property with less. The strategy can be as simple as: Buy a house when you enter the workforce and take on paying roommates.  Declare the income on your income tax. It doesn't have to be the perfect home, but it does need to be a good home in a good area. Never sell the home; instead, convert it to a rental when you move up in the near future as your income goes up. If you have young adult children who would benefit from this advice, please share it with them along with our Buyer's Guide.  If they would like to learn more specifics, we would love the opportunity to meet with them.

Retirement Dreams to Reality with Rental Properties Planning for a comfortable and secure retirement is a priority for many individuals. While traditional investment options like stocks and bonds play a crucial role, there's another avenue that holds great potential, rental real estate. Let's explore the 12 key benefits of investing in rental real estate for retirement, shedding light on why it is a smart strategy to consider. Steady Passive Income - Rental real estate offers a consistent stream of passive income, providing a reliable source of cash flow during your retirement years. This income can serve as a supplement to other retirement funds, ensuring financial stability and peace of mind. Inflation Hedge - Rental income has the unique advantage of increasing with inflation. As living costs rise, rental prices can be adjusted accordingly, safeguarding your purchasing power, and allowing you to maintain your desired lifestyle. Potential for Appreciation - Investing in rental properties allows you to benefit from potential long-term capital appreciation. Over time, your properties can increase in value, presenting the opportunity for substantial gains and a higher return on investment. Tax Benefits - One of the significant advantages of rental real estate is the array of tax benefits available to investors. Deductions for property expenses, mortgage interest, and depreciation can help lower your annual tax liability, effectively maximizing your income in retirement.  Tax deferred exchanges and favorable long-term capital gains rates are also significant advantages. Diversification - Including rental properties in your investment portfolio provides diversification, reducing the risk associated with relying solely on traditional investments. Real estate often performs independently of the stock market, adding a valuable layer of stability to your retirement plan. Tangible Asset - Unlike intangible investments, rental real estate is a tangible asset that you can see and touch. Owning physical properties provides a sense of security, especially during turbulent economic times, and serves as a valuable asset that can be refinanced without triggering tax on the mortgage proceeds. Equity Buildup - As tenants pay down the mortgage on your rental property, your equity in the property increases. By the time you retire, you can have a significant amount of equity built up, offering a potential source of additional retirement income through refinancing, selling, or leveraging that equity. Control Over Investment - Investing in rental real estate grants you control over your investment. You can make decisions regarding property management, rental rates, and property improvements, allowing you to align your investment strategy with your retirement goals and preferences. Downsizing Options - Rental property investments provide flexibility and options for downsizing in retirement. If you own multiple properties, you have the choice to sell some and generate income while simplifying your responsibilities as a landlord.  Another option could be to sell your personal home, take the capital gain exclusion, reinvest the proceeds for more retirement income, and move into one of your current, smaller rentals. Legacy Building - Rental real estate offers a unique opportunity to create a lasting legacy. You can pass down your property to your heirs, with the tax advantage of a step up in basis, providing them with a valuable inheritance and potentially securing their financial future. Ability to Leverage - Investing in rental properties allows you to leverage your investment. By utilizing financing options, you can multiply your returns, potentially amplifying your wealth accumulation and retirement income. Flexibility - Rental real estate offers flexibility throughout retirement. You have the freedom to adapt your investment strategy to match your changing lifestyle and financial goals. Whether it's adjusting rental rates, exploring different property types, or exploring new markets, you can customize your approach to maximize your returns. Investing in rental real estate for retirement can unlock a range of benefits that contribute to financial security, steady income, and a comfortable lifestyle. From passive income to potential appreciation, tax advantages to legacy building, rental properties offer a path to a blissful retirement. By carefully considering the advantages discussed, you can make informed decisions investing in real estate for your retirement. Download our Rental Income Properties guide.  If you want more information, and your agent is not familiar with rental investments, we would love to work with you to better understand the opportunities.

Shopping Mortgage Rates Nobel Prize recipient, Richard Thaler, in his research into seemingly irrational economic behaviors, "found that consumers generally search too little, get confused while evaluating complex alternatives, and are slow to switch from past choices, even if it costs them." "Why are consumers leaving money on the table?" Based on this behavior, a borrower securing a mortgage might depend on their existing banking relationship or a single referral from a friend or agent rather than shopping multiple lenders. When shopping for a lower mortgage rate, consider that not all lenders share the same business practices.  Some may lure unsuspecting borrowers to a rate, knowing full well that they cannot deliver on it.  After making a loan application and supplying information necessary for approval, they reveal that the rate is not available for "whatever" reason. They're counting on the borrower wanting to get into the home because the closing date is near and they'll compromise by accepting the higher than quoted rate. Shopping for a mortgage rate can result in savings because rates are set by individual lenders.  To get an apples-to-apples comparison, the terms of the mortgage being shopped should be consistent among the lender candidates. Consumers can make additional savings by not only shopping for better rates but for better terms and fees, which can vary widely among lenders. The amount of savings can be affected not only by the difference in rates, but the size of the mortgage and the length of time borrowers expect to keep it without refinancing or selling. Advertised rates are generally for A++ borrowers and the determination is the lender's based on many factors.  It may be unlikely those rates are offered to you.  A recommendation for the best lender from a friend or family member will not necessarily be the best for you. Instead of accepting the first offer received, shop for at least three to five offers. Your personal bank may be convenient but it may not offer you the best rate, terms, and fees. Ask if there is room to negotiate the rate or fees. Ask your Top Agent at #TheSamTeam for recommendations of several trusted lenders for you to shop a rate, terms, and fees. 

Who Benefits from Selling a Home "As Is"? A person's decision to sell their home comes with a lot of other decisions causing an owner to stress or procrastinate.  Early in the process, the owner will consider selling the home "As Is" to avoid the looming issues that accompany selling a home. From a seller's standpoint, "as is" means the buyer will purchase the home in its current condition without asking for any repairs.  While it is convenient for the seller to take this approach, the normal trade out is the property will not result in the highest possible sales price. Regardless of how the home is sold, the seller is required to disclose all defects which include repair history, condition of systems and appliances, water damage, pest infestation, radon, and other things that affect the value and livability of the home. From a buyer's point of view, they may think there is something wrong with the home which could result in them avoiding the home completely or making a substantially lower offer to cover not only the known issues but also the unknown ones. It would be reasonable for a seller to allow a buyer to make inspections to determine what the condition of the home and what kind of expenses they might be faced with.  In some situations, based on provisions in the sales contract, the buyer, after making inspections, may decide not to continue with the contract which could extend the marketing time for the seller by having to find another buyer. Selling a home "as is" is like wholesaling the property.  A comparison could be trading your car to a dealer when buying a new one.  The dealer will usually give you the best price for the new car but won't offer you a retail price for the trade-in.  If the dealer were to give you a "retail" price for the trade-in, they would probably expect a "retail" price for the new purchase. Even if the seller doesn't want to go through the effort to make major improvements, they still need to consider things that will ease the buyers' concerns about the home.  These include a thorough cleaning, decluttering, yard cleanup, and repairs on known issues like leaking faucets, lighting, doors, and appliances to name a few examples. If this path is taken, the cost to the seller will be not realizing the maximum sales price compared to comparable homes that have sold recently in the area that have been updated. Sellers Pros & Cons Buyer Pros & Cons Not spend money to prepare the home Lower purchase price Won't maximize proceeds from the sale Less competition from other buyers Could sell quickly if priced properly Financing could be challenging May take longer to sell Looking for an opportunity to build sweat equity Effort finding/negotiating with contractors Improve the property to your preferences Investors looking to make a profit There may be hidden problems Making decisions on what the public wants   There are companies who will buy your home for cash.  Their ads are very appealing to sellers because it solves their concerns about putting the home on the market.  Realize these companies are not charities but "for profit" who expect to be able to recoup the money paid to you, pay all repairs, renovations, and sales expenses plus make a profit for the risk taken. As a homeowner, you will always realize more of your equity by approaching it with a risk/reward analysis to determine how to sell it for the highest price with the least expenses.  Your real estate professional will act as a fiduciary to put your best interests ahead of their own.  It is worth the effort before embarking on an "as is" scenario.  As always, contact The Sam Team at Houston Top Realty for excellent assistance when buying and/or selling.  

Make Your Home Offer the Most Appealing Sales in February 2023 were up 14.5% month over month and still down 22.6% year over year according to the NAR Housing Snapshot.  The median sales price dipped 0.2% to $363,000 and there are 2.6 months supply of homes on the market compared to 1.7 months a year ago. "Inventory levels are still at historic lows, and consequently, multiple offers are returning on a good number of properties." According to Lawrence Yun, Chief Economist for the National Association of REALTORS�. It is still important to have a strategy for potentially competing with other buyers on the house you want to buy.  The plan should include several available provisions and options, so that at the time of drafting the sales offer, you can consider exactly what to include based on the situation. Unless a person is paying cash, you need to be pre-approved by a trusted mortgage professional long before you start looking at homes.  Include the written pre-approval letter along with the offer.  When you are making an offer on a home, have the mortgage professional available to reassure the listing agent by phone who will convey that to the seller. If you're concerned about multiple offers, make your best offer first because you may not get to counter and simply lose out to another buyer.  Starting with a low offer and gradually coming up doesn't work in highly competitive situations.  In some cases, a low-ball offer could cast a pall on any consideration of your purchase contract altogether. The listing agent will calculate the expenses on the different offers for the seller to show them what their net proceeds will be on each contract.  Some types of financing have more costs incurred to the seller.  Asking the seller to make repairs or other financial concessions could lower their net even though your offer may be higher. From a buyer's standpoint, contingencies provide options for things that may be uncertain like qualifying for a mortgage, discovery of major impediments to the condition of the home, and other things.  To the seller, they are obstacles that may invalidate the contract causing the home back on the market.  If the contingencies are necessary, try to make them as palatable to the seller as possible. Instead of waiving your rights to make inspections, consider a very short inspection period to minimize the time the property is in limbo.  Instead of asking for repairs, provide a simple "accept or reject" once the inspections have been made. Try to accommodate the seller's desired closing and possession dates.  Sometimes an earlier date may be more desirable for a seller and other times, it might be a later date based on the home they'll be moving into.  Your agent can do some research and find a flexible alternative that may appeal to the seller. Increase your earnest money deposit more than the minimum.  It is a pecuniary indication that you are serious.  Your agent can tell you what that amount should be and alternatives like increasing the earnest money after certain contingencies have been met. Escalation clauses state that you are willing to increase your offer by a certain amount up to a specified maximum, subject to another bona fide offer being received before yours is accepted.  Your agent will be able to further explain how these might work in your situation as well as share their experience with them in other similar negotiations. You as a buyer and your offer to purchase need to be seen as the solution to the seller's situation in price, terms, and reliability to close.  Working with an experienced agent with seasoned negotiation skills is key to your success in buying a home in a competitive environment.   Download our Buyers Guide.   The Sam Team at Houston Top Realty

A New Perspective on the Housing Market The housing market in 2021 and part of 2022 was anything but normal.  Mortgage rates were at all time lows and may never reach those levels again.  Double-digit appreciation drove prices to new heights.  Low inventories fueled by high buyer demand made multiple offers a normal expectation. As we look at the market snapshots provided by MLS in the various markets across the U.S., it appears that things may be returning to normal, but not necessarily in all areas.  While there are more homes on the market now than a year ago, there are less sales due primarily to the doubling of mortgage rates in 2022. Time on the market is lengthening but that can be explained by the removal of approximately 15 million homebuyers who now have affordability issues.  When the market shifted, sellers expectations for what they thought their home is worth are not keeping pace with current conditions. Some sellers who didn't put their home on the market in 2021 and 2022 for whatever reason, remember the peak of the prices they could have sold their home for and now that they are ready, instead of looking at today's prices, still expect to get the higher value. Every experienced agent knows that all real estate is local and while you can look at trends on a national basis, it takes a knowledgeable professional to assess the local market, even on a neighborhood basis, to determine what a property will reasonably sell for currently. A seller who has owned their home for several years is going to realize a good profit and return on their investment.  If they are ready to sell in today's market, that should be their focus and not on what might have been, had they sold at the recent high. There is no way to predict when prices will achieve their high whether it is in stocks, bonds, commodities, or housing prices.  It is only after it has hit the pinnacle and started retreating, that It can be identified. Don't be concerned about the market you missed regardless of whether you are a buyer or a seller.  When real estate is viewed as a long-term investment, time takes care of things that can be incredibly stressful in the short term. The average 30-year fixed-rate mortgage for the last 50 years is 7.76% according to the Freddie Mac PMMS survey.  The current 6.60% is considerably below that benchmark and it appears to be trending lower.  The current rate is what today's buyer must pay to borrow. Home prices have experienced 7.16% appreciation for the last fifty-five years according to the Federal Reserve Economic Data of the St. Louis Fed.  Compared to the average inflation rate of 4.3% for the same period, homes provide a hedge against inflation and a significant contribution to personal net worth. If you're in the market to buy or sell, contact The Sam Team at Houston Top Realty (832-200-5656)  to find out what your market is doing and what options you have available.

Choose The Sam Team when Selling Your Pearland Home If you are looking to sell your Pearland home, it's crucial to have a team of experienced and knowledgeable Pearland Realtors who understand the local real estate market. The Sam Team at Houston Top Realty is the best team to handle your real estate needs in Pearland. Here's why. Firstly, the Pearland real estate market can be complex and fast-moving. The Sam Team is well-versed in this market, having worked with countless sellers and buyers in the area. They have the skills and knowledge needed to navigate the complexities of the market, ensuring that you get the best possible price for your home. Secondly, selling a home can be a stressful and time-consuming process, especially if you're doing it on your own. The Sam Team will take the burden off your shoulders, handling everything from listing your property to negotiating with potential buyers. They have the resources and expertise to make the process as smooth and stress-free as possible. Thirdly, marketing your Pearland home effectively is key to getting it sold quickly and for the right price. The Sam Team has a proven track record of marketing properties effectively, using a range of channels to reach potential buyers. They will work tirelessly to ensure that your property gets the exposure it deserves, and that you get the best possible return on your investment. Finally, The Sam Team at Houston Top Realty is committed to providing exceptional service to their clients. They pride themselves on their honesty, integrity, and professionalism, and they will work tirelessly to ensure that your needs are met every step of the way. In conclusion, if you're looking to sell your Pearland home, The Sam Team at Houston Top Realty is the best team for the job. With their knowledge of the local market, expertise in real estate, and commitment to exceptional service, you can rest assured that you're in good hands. So why wait? Contact The Sam Team today and take the first step towards selling your Pearland home.  Call 281-710-3010 or visit TheSamTeam.com,       

Playing Monopoly is Good Home Work If you've ever been in a Monopoly game after most of the properties have been purchased and developed, it can be a relief to land on Free Parking, knowing the dice must rotate to the next player giving you a respite from paying rent.  Like the game, in real life, it would be nice to avoid paying rent and even better to have people paying you rent for property you own. Winning in the game of Monopoly is all about investing.  If you travel around the board, trying to buy the ultimate property and pass Go to get another $200, you're missing the opportunity to purchase good properties along the way that could lead to upgrading into your dream home. Starting early to buy your first home gives a buyer a chance to acquire a property with a minimum down payment, and inevitably, have a lower payment than paying rent for a similar home.  As the home appreciates and the loan amortizes, the equity grows.  Within a few years of average appreciation, the down payment can double or triple based on the leverage of using other people's money. They could use the equity to stair-step their way into a larger home and finally, their dream home.  Or, if that homeowner's goal is to acquire rental properties, they could convert that home to a rental and buy another home on a low-down payment, owner-occupied mortgage to allow that property's equity to grow in the same way. Multi-unit properties could be another option.  Finance it with the same type of owner-occupied, low down payment mortgage to achieve leverage that isn't available to non-owner-occupied investors; live in one unit and rent the others.  FHA, VA, and conventional mortgages allow for owner occupants to purchase up to a four-unit building with minimum down payments. It is very impressive to see the portfolios of properties that some young people have built by focusing on their goals, living within their means, and not getting distracted along the way.  You can learn a lot from them but be careful about getting into a game of Monopoly with them; they know how to play the game. Let's connect and talk about some of the specifics.  info@TheSamTeam.com 832-200-5656

Getting Comfortable with the New Normal Mortgage Rates The biggest shock to homebuyers is the soaring mortgage rates of 2022 that doubled in one year resulting in approximately 15 million mortgage ready buyers displaced from the market due to affordability issues. As of February 23, 2023, the 30-year fixed rate mortgage was at 6.5%.  While that is twice as high as it was on January 6, 2022, it is still lower than the 7.75% average rate since April 2, 1971, according to the Freddie Mac Primary Mortgage Market Survey. When rates increase at a rapid pace like this, it takes time for the public to adjust and begin to accept it as the new normal. Prior to the housing bust that led to the Great Recession, the normal for mortgage rates was in the 6% range and existing home sales were over 6.5 million for three years.  From 2007 to 2014, home sales were closer to 5 million with 2008-2011 at just above 4 million annually. From January 17, 2008 to March 5, 2020, mortgage rates averaged 4.32%.  In this 12-year period, buyers experienced some of the lowest mortgage rates ever and became to expect that rates would always be that low.  Then, during the hardest part of the pandemic, the government took unprecedented actions to influence rates even lower to where they averaged 3.06% between March 5, 2020 and March 17, 2022. It appears that mortgage rates have peaked in this latest cycle.  In December 2022, the rates came down for four straight weeks following two weeks of slightly higher rates.  The question is what to anticipate for 2023. The National Association of REALTORS� is expecting mortgage rates to be below 6% in the last half of 2023 possibly, 5.5% to 5.7%.  Zillow's chief economist believes rates will drop to around 5.5% for 2023.  The Mortgage Bankers Association expects that "30-year mortgage rates will end 2023 at 5.3%."  Fannie Mae forecasts rates will end 2023 at 5.7%. Relying on the experts, rates are not going to return to the unusual levels during the pandemic or even in the past 12-14 years.  The new normal may well indeed be at the mid-5% level and when the public gets use to it, sales will begin to rise again. Some buyers may need to adjust their price points because higher payments are directly impacted by the higher rates.  Even if they could have afforded more with the lower rates, that was a missed opportunity.  When the Fed gets inflation under control and the market rebounds from the pent-up demand, another window could be lost. David Stevens, CEO of Mountain Lake Consulting, and former Assistant Secretary of Housing recently said in a LinkedIn post talking about the housing market in 2023 "So be advised...this may be the one and only window for the next few years to get into a buyers' market. And remember...as the Federal Reserve data shows...home prices only go up and always recover from recessions no matter how mild or severe.  Long term homeowners should view this market...right now...as a unique buying opportunity."

  Houston, Texas, is a bustling and growing city with a diverse economy and a thriving real estate market. In this blog, we'll take a look at the current state of the real estate market in Houston and what buyers and sellers can expect in the coming months. Home prices in Houston have continued to rise steadily over the past year, driven by strong demand and low inventory. According to the Houston Association of Realtors, the median sales price for a single-family home in Houston increased by 13.2% in January 2022 compared to the same month the previous year. The average sales price also rose by 13.1% during the same period. This trend is expected to continue in the coming months, as more people move to the city and look to purchase a home. Despite the rising prices, Houston remains an affordable market compared to other major cities in the country. This has led to an influx of buyers, particularly from California and other expensive coastal cities, who are looking for a more affordable and spacious lifestyle. This has put even more pressure on the already limited inventory of homes for sale in Houston. For sellers, this is an ideal time to put their homes on the market. With low inventory and high demand, sellers can expect to receive multiple offers and potentially even sell their home above asking price. However, it's important to work with an experienced and knowledgeable real estate agent who can help navigate the complexities of the market and ensure a successful sale. For buyers, it's important to be prepared and act quickly when a desirable property comes on the market. This means having a pre-approval letter from a lender and working closely with a real estate agent who can provide insights and guidance on the current market conditions. Buyers may also want to consider expanding their search to include surrounding areas outside of the city, where they may find more inventory and potentially more affordable prices. Overall, the real estate market in Houston is strong and shows no signs of slowing down. With high demand and low inventory, sellers can expect to receive top dollar for their homes, while buyers need to act quickly and be prepared to make competitive offers. The key to success in this market is to work with an experienced and knowledgeable real estate agent who can help navigate the complexities and maximize the opportunities. To find your place in the market -- buying or selling -- Call 281-710-3090.  TheSamTeam.com at Houston Top Realty.