Wednesday, December 20, 2006

DR Horton Headed Out of College Station?

Early this year DR Horton headed into College Station with a splash. Signs went up and promotions abounded. Their first subdivision they built in was called Dove Crossing. On December 19th KBTX, one of our local TV stations ran a story about DR Horton and how they have attempted, largely unsuccessfully, to compete in the Bryan/College Station market. Out of the 78 lots they purchased in Dove Crossing, only 35 have been built on, and many of those 35 are still for sale. Currently they are offering steep cobroker fees and paying closing costs for consumers.

What went wrong? Randall Pitcock, our local Homebuilders Association President, asserted that he believes they weren't able to offer the personal service that many of the homebuilders around this area do. He went on to state that the builders here see the consumers at community functions and that builds trust. Interestingly enough the article also stated that we have more builders here, per capita, than anywhere else in Texas.

I hate to disagree with the estimed Mr. Pitcock (who by the way does offer a fine house and good follow through!), but these same builders who go to church with the consumers and see them at the grocery store, in many cases don't seem to think that follow through, or warranty issues are of great importance and cause grief to their clients in the end. I don't feel that it has anything to do with building trust, after all one of the nations largest homebuilders is likely to stand by their product.

DR Horton, in my opinion, entered the market without studying it enough first. Dove Crossing is a neighborhood with homes priced in the middle of our range, 140-155K. One problem with that is their is competition galore in that price range. The homes that they built had a minimum of amenities, lacking common features such as bull-nose corners, crown moulding and ceramic tile. The next subdivision down is obviously a low cost subdivision with only one side brick to each home and extremely small yards. To add insult to injury the subdivision is located across from a heavily student oriented neighborhood with duplexes galore. In fact, in one of the homes I showed the master bath features a large window (with no frosted glass, or glass blocks) that faces these duplexes across the street. DR Horton, apparently had another subdivision in mind when they moved here, and that one was right next to the highway. We are small town America here. In Houston, Dallas, Austin, or other extremely populated areas buyers may be accustomed to living near a freeway or duplexes, but not in our area.

I believe that DR Horton could have made it given an intense study of the area and talking to clients as well as agents to see what is needed in the area. Too bad they didn't.


-->

Aggieland First Time Buyers Make 2007 Your Year!

Real estate for me is more like a calling rather than just a profession. The pleasure I get by handing first time buyers their keys is one of the biggest thrills of my life. I've had the pleasure this year of working with three families, who, through different circumstances never grew up in a home of their own. Either it was apartment living, mobile homes, or relatives homes that their families stayed in. There is no satisfaction greater than finding these people, and working with them to help their dreams become a reality.

First time homebuyers are often nervous or afraid of rejection when it comes to buying a home. Nervous because they might make a mistake and afraid of rejection because they are concerned no lender would want to touch them. I've had people with perfect credit walk into my office worried that they would never get approved for a loan.

The way to calm your nerves about making a mistake is simple. Choose a Realtor that you believe will work hard for you, not just the commission that the seller pays. Find one that will go out of their way to educate you about the process and negotiate hard for you. Go ahead and interview agents. Many years ago when I got into real estate a very wise person told me that you don't make money when you sell a home, but rather, when you buy it. This is how I would want your agent to negotiate for you, as if every penny counts.

The way to calm your fear of rejection on credit issues is to talk to your Realtor or financing source. I have a team of people that can help. Anything from credit cleansing to advising you how long to wait to avoid negative items on your credit and some unique programs that can lower the interest rate. Don't worry about no money down or any issues. Talk to a good financing source or a Realtor first and let them tell you what can be done. Saving for the perfect downpayment can set you back. If you save $2000 a year, but the average home price is rising 3% per year and you look at a $150K home, the next year that same house is worth $154,500 and you've saved $2000 towards the down payment. At that rate you can't afford to save.

Make 2007 the year you get into a house of your own!!!!

Sunday, December 3, 2006

Join the College Station's "Citizen Congress" Monday, Dec. 4th, at 6 pm.

Residents of College Station can voice their opinions about College Station growth, traffic and restrictions Monday, December 4th, 2006 at 6 pm, in the Oakwood Room of the College Station Hilton. Residents will be broken into focus groups, transportation, economic development and community character. There has been quite a bit of interest in this, as citizens want, and need, to be a part of the comprehensive plan. Sugar Land consulting firm Kendig Keast Collaborative is in charge of rewriting the city plan documents, complete with citizen feedback.

The city received over 100 applications for its earlier advisory committee. Forty people actually serve.

Earlier analysis showed some of College Station's strenghts and weaknesses. Strengths included our airport, arts, culture and university amenities, and an adequate cost of living. Weaknesses included lack of economic diversity, sprawl, failure to plan thoroughfares for growth and neighborhood degradation.