tag:blogger.com,1999:blog-56263286713411551002024-02-21T05:58:25.567-05:00Bryan and College Station Real Estate NewsBryan and College Station real estate, luxury homes, advice to Bryan home sellers and College Station Home Sellers. Advice to Bryan home buyers and College Station home buyers.Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.comBlogger57125tag:blogger.com,1999:blog-5626328671341155100.post-49283632112692173042013-05-07T19:12:00.002-04:002013-05-07T19:13:15.953-04:00My Blog Has Moved!Thank you for following my blog! If you have enjoyed these posts, please visit my current blog at <a href="http://www.christesch.com/my-blog/">www.christesch.com/my-blog</a>!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-17534579454617327392008-10-23T13:22:00.002-04:002008-10-23T13:42:31.348-04:00Why A National MLS Would be a MistakeThere has been much discussion lately about eliminating the local MLS (ours is Bryan-College Station MLS) and going with a national MLS. The proponants of this claim that it will eliminate worries about finding properties online and allow agents to show properties beyond their boundries.<br /><br />I for one will stick to selling Bryan and College Station homes (and the surrounding areas). I feel like the pundits have some very solid points and a lot of negative points. I believe that the people that are for this measure (most of them are fellow Realtors) have a very minimal understanding of what a real estate agent truly brings to a transaction. A move to a national MLS will make us simple door openers, nothing more and nothing less.<br /><br />I don't sell in Austin or Houston or Huntsville for one very good reason...I don't know the area. I would hate to sell a property to folks and then find out that it's in an area that's known for foundation failure (Houston and other areas have actual fault lines), or that there is a sewage treatment facility nearby that we didn't happen to smell that day, but that one or two months out of the year it's quite noticable. <br /><br />Real estate is local. I've blogged before about the need to realize that the news in real estate is on the national level and that it looks very different here in Bryan/College Station. The same can be said for what sells here. In Michigan, where I came from originally (but, as they say, got down here as fast as I could...), it was desirable to have the master bedrooms upstairs. Heat, after all, rises and it was a nice way to maximize that and keep your bedroom cozy. Not so here as that feature all but sometimes kills a sale. In Huntsville, just miles from College Station, it is extremely common for slab failures to occur, and it doesn't affect the price that the home sells for. Not so in Bryan or College Station, with those listings even with a corrected issue taking much longer to sell and accepting typically, a much lower price per square foot compared to homes without issues.<br /><br />How would you like a real estate agent to show you a house in College Station and not mention that the upstairs master will be an issue for resale? How about one from Austin that doesn't know that south College Station has traffic issues (currently being resolved) and that it could take double the time to travel to the university from one location compared to another? What about listing a house with a Houston agent, who doesn't understand the impact that proximity to Texas A&M University plays in home pricing and fails to price the house properly costing you thousands of dollars?<br /><br />Real estate is a local venture and keeping it local is the best plan. Now, that isn't to say that a property in Caldwell shouldn't have some presence on the Austin MLS, or a property in Anderson shouldn't be listed in Houston MLS. For this I think a simple plan of cooperative listings would work well.<br /><br />When buying or selling ensure that your real estate dollars work to your advantage! Use a local Realtor!!!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-27166361260522242942008-10-18T10:51:00.004-04:002008-10-18T11:05:25.772-04:00Existing Home Sales UpBoth in our Bryan and College Station market, as well as the national market existing home sales were up in September by a significant 7.5%. This was unexpected as the economists were predicting furthur slowing.<br /><br />Unfortunately this news was almost lost in the landslide of almost apocoliptic news in other fronts. For those of your that are news hounds, however, remember that bad news sells good or average news seldom does.<br /><br />Headlines that splash are "Economy is hitting rock bottom" not "Our economy isn't growing as much as hoped, but is on the rebound". <br /><br />We get many phone calls both from potential buyers and potential sellers asking about the market. We do have many people sitting on the fence but overall its still a very strong market.<br /><br />It is especially important to have an agent that is experienced in Bryan and College Station real estate right now as there are some potentially rough waters to negotiate in the loan, appraisal and closing phases. It is just as important to have an excellent local lender on your side, as they are much more aware of potential issues than your larger, out of area, lenders.<br /><br />In short our market is still moving. Prices are up modestly (that's typical for our market) and loans are still available.<br /><br />Call today to start your own personal search or click on our MLS search and enter your criteria, price range and whether you are looking for Bryan or College Station or one of our outlying areas and we'll keep you up to date with all the new listings. If you're ready to search call and we'll arrange a time when we can meet (yes, weekends are always a possibility with advance notice) and arrange appointments to see the homes that either best suit your needs, or you are most interested in if you would like to pick. My Buyers Agent and I will show you a variety of different homes within your criteria and aren't the type of agents that show you 3 or 4 and encourage you to pick.<br /><br />If you are interested in selling your Bryan or College Station home call today for a free market analysis.Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-48242567235506322682008-09-28T18:45:00.005-04:002008-09-28T19:57:19.877-04:00Must Read! Increase The Value Of Your Home in One Day!So, you've bought the house of your dreams and moved in. What's the next step? Remembering that one day, whether you realize it or not today, you'll be selling. Increasing the value of your home isn't just a blitz right before you list it. Protecting and increasing the value of your home starts the day that you write the offer.<br /><br />So you've closed now. What is the number one thing to do as soon as you've bought the home? <strong>If I could tell you that in one day you could make a change to increase the value of your home by possibly up to 20%, decrease your utility bills, and reduce your stress while helping the entire ecology of our area would you be interested?</strong> You can! Quick, plant trees!<br /><br />In any area this holds true, but in our area it's of prime importance. Bryan and College Station, actually all of Brazos Valley, has traditionally been used as farm land. Trees in fields aren't a great value, as they provide unneeded shade and reduce the area given for crops or livestock. Therefore many were eliminated. The remaining trees in many cases, are Post Oaks. Post Oak trees are beautiful trees and very hardy, when given a natural enviroment. They are, however, very resistant to change and to human intervention. Pouring a slab close to their root system, watering them with clorinated and processed water, putting a tree house in them or driving over or near their root systems are all huge problems for these gorgeous natives. In other words, as homeowners, we don't play nice with them. They tend to die within a year of a new property being built on, leaving you with a big empty space in your yard.<br /><br />Here's some quick statistics on the value of a tree:<br /><br />Dr. Roger S. Ulrich of Texas A&M University stated that "in laboratory research, visual exposure ot settings with trees has produced significant recovery from stress within five minutes, as indicated by changes in blood pressure and muscle tension."<br /><br />The USDA Forest Service states "Trees properly placed around buildings can reduce air conditioning needs by 30 percent and can save 20-50 percent in energy used for heating"<br /><br />The Management Information Services/ICMA states "Landscaping, especially with trees, can increase property values as much as 20 percent."<br /><br />According to the US Department of Agriculture "The net cooling effect of a young, healty tree is equivilant to ten room-size air conditioners operating 20 hours a day."<br /><br />"A mature tree can often have an appraised value of between $1,000 and $10,000," according to the Concil of Tree and Landscape Appraisers.<br /><br />Dr. E. Greg McPherson, Center for Urban Forest Research states "if you plant a tree today on the west side of your home, in 5 years your energy bills should be 3% less. In 15 years the savings will be nearly 12%."<br /><br />These tidbits all come from <a href="http://www.arborday.org/trees/benefits.cfm">The Arbor Day Foundation</a>. Visit them today for inexpensive trees and think about joining. Membership comes with 10 free seedlings and discounts on other trees. For those interested in saving more on their utilities short term visit one of our local tree farms and get more mature trees. Surpisingly affordable, these can provide some shade immediately and increase the value of your property much sooner. A couple of our local tree farms are <a href="http://www.brazosvalleytreefarm.com/">Brazos Valley Tree Farms</a> in South College Station and <a href="http://www.billwilliamsontreefarm.com/">Bill Willamson's Tree Farm</a> in Iola. A recent trip to Brazos Valley Tree Farms found prices as low as $95 for a 30 gallon tree and 45 gallon trees for $265. Delivery is free within the area and planting typically runs half the price of the tree if you don't want to D-I-Y it. Other lower cost options for in between sizes can be found at Lowe's or Home Depot as well.<br /><br />Wow, lower your blood pressure, decrease your utility bills and increase your property value in one fell swoop! Definately a recipe for success!!!!!!!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-79788846120307279412008-09-25T14:53:00.004-04:002008-09-26T17:37:44.659-04:00Get Fit and Feel Great!!!My blog readers know that I typically stay close to the subject of real estate and how to maximize your profits on it. Today, however, I'm going to focus on a local business that has truly made an impact on my life. <a href="http://marethouse.com/">MaretHouse Fitness</a> is housed inside <a href="http://www.aggielandfitness.com/">Aggieland Fitness Dome </a>right off of Highway 6 between Graham Road and Barron Road. David MaretHouse has been a client and a friend for a few years since he moved here from New Orleans where Hurricane Katrina destroyed his neighborhood and home. I always knew that David had to be a great personal trainer...he has a great sense of humor (of paramont importance...for anyone who knows me) and he is DEFINATELY fit! Did I go and see him though? Well, there was always an excuse!<br /><br />Six short weeks ago I went into the Dome to get Davids signatures on his own personal home for sale (see his gorgeous home on 5 acres in featured properties). I walked out with a precious gift. The gift of fitness. I saw the sign up sheets for MaretHouse fitness camps and thought "hmm...I'll ask him about it".<br /><br />My first question, since this is Aggieland, and we have a predominance of young, beautiful people is "<strong>will I be out of place</strong>?" David assured me that he has people of all ages in his fitness camps and that someone on the "wrong side" of 40 wouldn't be out of place.<br /><br />My second question was "<strong>do I have to be a member of the Dome to be in your camp</strong>?" Absolutely not, was the answer. Though Dome membership may be beneficial and they have a free 14 day trial run, it isn't necessary to be a member to be part of the fitness camp. (I still am not a member of the Dome).<br /><br />My third question was "<strong>what if I'm not available during the time when the fitness camp is held?"</strong> Well, with 7 different times of the day and the ability to go to different ones if your schedule gets bogged down that objection was countered.<br /><br />The fourth and most important question was "<strong>OK, Sounds good....but what's the price?"</strong> I was surprised, <strong>for the six week period</strong> the price was only <strong>$180</strong>. That works out to a slim $10 per workout. <br /><br />That was 6 short weeks ago and I'm so happy I signed up! I'm trimmer, more energetic and happier with the way I feel. It's time to renew, and guess what? I did!!!!!!! I can say that, by far, my experience with MaretHouse has been the best fitness experience I've ever had! I've done personal training, group classes, semi private training, circuit training...this takes the cake! It's fun and a great group and you can feel the progress week to week.<br /><br />Here are the details. The 5o minute classes are Monday, Wednesday and Thursday. They begin <strong>September 29th and end November 7th</strong>. The times are 6 am, 8 am 9 am 4 pm, 5 pm 6 pm and 7 pm. They consist of circuit style training, outdoor running and plyometric drills (OK, I don't know what it is but it's fun :) The classes are geared for weight loss, toning and body sculpting.<br /><br />Of course, David and group also offer excellent one on one personal training. The fitness camps get my vote though! Convenient, fun and refreshing this is the best way I've ever found to get fit and stay fit.<br /><br />For more details call David at (979)574-3124 or visit <a href="http://www.marethouse.com/">http://www.Marethouse.com</a>. You'll be glad you did. See you there!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com1tag:blogger.com,1999:blog-5626328671341155100.post-50827392169663354622008-09-24T22:39:00.003-04:002008-09-24T22:57:46.630-04:00What Does Your House And A Widget Have in Common?It's time to put your house on the market. You've cleaned, you've staged, you've contacted several agents to come out and talk with you. The agents seem to agree that, though your house is in great shape, and looks nice, your wall color is a bit unique. It's not going to suit everyone. What's your inclination? Do you paint, or let the buyer?<br /><br />As real estate agents we often see people get a little emotionally involved when selling their home. It's hard not too! You've invested years of your life there. The kids may have grown up there. Johnny's height still is marked on the utility room door...I understand. I also caution you to try very hard to divorce your emotions from the process.<br /><br />Imagine this...you are the head of the leading widget maker in Texas. You've done studies that show that College Station people like maroon widgets (what else would they like here in Aggieland?) Instead of going with maroon widgets though you decide that blue widgets are the way to go. They go with your office furniture better. Guess what? The widgets don't sell. You've spent alot of money on fancy boxes and marketing widgets that just sit on the shelves.<br /><br />Now let's talk about your house. Yes, that purple in Suzy's room might have been her color, but for right now it's not about Suzy. For the moment it's about equity and maximizing it. Suzy's new room at the new house can be purple and pink, if she'd like. Paint the walls and you'll see green!<br /><br />Your house when on the real estate market is, first and foremost, a product. You need to present it as a product. It needs to be clean and look nice. It needs to be staged properly. If at all possible it needs to be as neutral as possible. Accent with your furniture and accessories, not the wall color when preparing to sell your home. <br /><br />For more advice on how to sell your home faster and for more money call today. Please let me talk with you about our professional marketing services. I would love to apply for the job of selling your home!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-46184485212836781492008-09-23T16:06:00.004-04:002008-09-23T16:26:45.752-04:00What Marketing Sells a Bryan or College Station Home?"Everyone has 30 seconds of fame", remember the old adage? Well, expand that to every marketed property and you'll have the fate of a property that is marketed by an agent that is, shall we say, not "net savvy"?<br /><br />The old stick it on the MLS and forget it was enhanced by newspaper coverage, magazine coverage and Cable Mart coverage. In its time this was good! Newspapers used to make my phone ring reliably on Monday mornings. I remember the day when I would study all the listings in the paper, in case someone called and the property they called about was sold, I could refer them to a different property and set up a showing....That was several years ago. Enter the internet age...and a whole different way of showcasing your property.<br /><br />Your property has the potential to be extremely "famous" this way! Web sites with real estate listings abound and getting your house on to these web sites is as easy as hiring a "net savvy" agent. Getting an agent that places well on the search terms typically used is one of the ways that your house will get maximum exposure. "College Station real estate", and "Bryan Texas real estate" are two of the top terms for Google in B/CS real estate. If you Google "College Station real estate" currently you'll find my listing coming up at number 4, you'll find my featured properties coming up easily and quickly when you open the page. Excellent exposure! If you Google "Bryan Texas real estate" you'll find my listing at #9 on the first page as well. This requires work to keep my web site up there at the tops of these searches, but doing it gives my marketed homes more exposure than 95% of the other homes out there. This is better than most of the more public portals because the traffic is typically the very interested home buyer for our area. The public portals many times have people just shopping different areas to find out how real estate compares. <br /><br />Our marketing doesn't stop there though! There are other more public portals that won't attract such a targeted market, but still perform very well. Trulia, Craigs List, Realtor.com, Oodles, and other general portals will showcase your home well when someone searches in our area. We carefully insure coverage on the best of these with some 300 or more web sites getting the information as well.<br /><br />In general print advertising whether it be newspaper, magazine, or flyers, underperforms in comparison with targeted web site marketing.<br /><br />Make sure your agent has a large internet presence and can get things done with Web 2.0!!!! Call today to speak to us for our marketing package!!!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-79185602671708139912008-09-18T08:17:00.003-04:002008-09-18T08:33:21.840-04:00Bryan and College Station real estate Slowdown?Both Bryan and College Station posted home sales down in August from previous years and the past very strong months. Remember that July of this year was a record breaking year with sales surpassing previous years strongly. This could be an indication that the market is softening slightly here, though it could be that many people that traditionally would have bought in August instead jump started their plans and bought in July.<br /><br />Overall there were 411 new listings in August. 292 sales occurred with a total number of active listings sitting at 1,139. The average sales price stayed strong at $179,870. Average days on the market stood steady at 105.<br /><br />In the lower end market up to 99K there were 44 sold and 216 total listings. in the 100-180K market there were 149 sold with 446 total listed. In the 180-299K price range 57 sold with 257 total listed. Over 300K saw 30 sold with 220 total listed.<br /><br />Again remember that in July we saw an almost equal number of sales and listings in the more popular price categories up to 200K. This could be the beginning of a slight softening or it could be a minor fluctuation.<br /><br />Stay tuned for more details!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-2997275484258330492008-09-17T09:42:00.003-04:002008-09-17T09:53:46.224-04:00Is It Your Offer, Or Your Agent's Reputation?I have a beautiful, older house in one of our charming historic districts for sale currently. It is listed at $229,900, a "quick sale" price since the clients are moving out of the country. When we first put it on the market we had three offers and chose the best one. The buyers were represented by a new agent in town but had their prequalification letter and were fairly good to go. They decided since then not to use the local lender they were prequalified through, but instead an out of town lender, DiTech Funding. DiTech sent an appraiser out that isn't familiar with the neighborhood, just did a drive by and didn't use the correct square feet. It ended up appraising for around 20k less than what we had multiple offers on it for. Unfortunately, long story short, though another appraisal was done and it came out at $242K DiTech wouldn't accept that. During this fiasco, however, the new agent was never heard from. We would get the occasional phone call from her manager, or another agent that was helping, but repeatedly this agent wouldn't call back. <br /><br />Fast forward and the house is back on the market. This same agent, along with two others brought us another very attractive offer. The seller, at this point, doesn't want to consider her offer because of her track record. Fair to her client? Absolutely not, but understandable to anyone. <br /><br />When choosing an agent the only qualification isn't whether they can get you into the properties. Their reputation with other agents, and the general public, their experience, their knowledge are all necessary to get the job done. When choosing a buyers agent ensure that your agent is very familiar with lending practices and has been an agent for several years, or is a buyers agent for someone with an excellent reputation that will guide the buyers agent.<br /><br />Don't loose out on the perfect house because of your agent!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-69955663120353005362008-09-11T18:43:00.003-04:002008-09-11T18:48:12.959-04:00College Station Best Buy Alert!!!Looking for a secure place for your student? Wow, I ran across this listing today and I'm very impressed with the price. I am not the listing agent on this one, and it is a corporate owned unit in a student community off Wellborn Road. This 4 bedroom/3 bath with granite countertops and 1504 square feet is selling for $124,000!<br /><br />Rentals in the area have been between 1400-1600/per month. Sales show the latest two units sold fo $141K and $142,200. <br /><br />Other units available are listed at $169,900 and $165K. Please note there are several floorplans and these might be quite different.<br /><br />These are two story units about seven miles away from campus.<br /><br />Go into search the MLS and type the reference number 51395 to see the pictures and/or call me today to see the property!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-39521610510765343182008-09-11T18:21:00.002-04:002008-09-11T18:35:07.813-04:00Storm Preparation for College Station and BryanWant to know the latest about Hurricane Ike, or any major storm that might roll into town? Go <a href="http://www.weather.com"> </a> for all the latest information.<br /><br />Looking for information on what to stock up on for a storm? <a href="http://www.click2houston.com/food/2487083/detail.html">Here</a> is the place you need to be! <br /><br />Information currently coming in states that <br /><br />Due to inclement weather predicted in the wake of Hurricane Ike, the following closures and cancellations have been announced from the City of Bryan:<br /><br /> <br /><br />· Bryan and College Station independent school districts will be closed Friday. <br /><br />· Texas A&M University and Blinn College will be closed Friday.<br /><br />· All branches of the Bryan and College Station public library system will be closed Saturday and Sunday. The due dates on library materials are extended to Monday so patrons won’t have late charges. Patrons are asked to not use book drops. <br /><br />· The Bryan Aquatic Center and Neal Recreation Center will be closed Friday through Sunday. <br /><br />· College Night in Downtown Bryan on Friday night is canceled. It will be up to the discretion of individual restaurants and entertainment venues whether they stay open, but city-sponsored giveaways will not be effective. The event will be postponed to a later date. <br /><br />· The Patriot Day 9/11 event originally planned for Veterans Park at 6 p.m. Thursday night has been moved to Southwood Park, 1600 Rock Prairie Road. <br /><br /> <br /><br />Other pertinent information:<br /><br />· Evacuees are being asked to go directly to Veterans Park on Harvey Road. They should call 211 for more information. <br /><br />· The George Bush Presidential Library and Museum is extending free admission to all hurricane evacuees. Visitors simply need to identify themselves to staff as evacuees. <br /><br />· 507 evacuees are currently being sheltered locally. Twenty-eight small animals and 46 large animals are being sheltered locally.<br /><br />The local shelter capacity is about 2,500. <br /><br />For the latest about Hurricane Ike go to the <a href="http://www.bryantx.gov/departments/?name=hurricane_center">City of Bryan </a>hurricane center website.<br /><br />The weather is fine currently, with the sun up and just a few clouds in the sky. Probably will be changing rapidly tomorrow.<br /><br />Keep Safe!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-23075631149547526952008-09-11T13:44:00.004-04:002008-09-11T14:09:02.901-04:00Bryan and College Station Schools Closed For Hurricane Ike on 9/12/08Both Bryan and College Station School Districts have called school off for 9/12/08 because of Hurricane Ike. Reports are out that the City of College Station is also offering the employees extra time off today to prepare for the storm. Here in Bryan and College Station we will be relatively immune to the devestation of the storm, expected to make landfall somewhere between Galveston and Corpus Cristi. High winds, however, will be likely if the storm moves right through, along with flash floods. The roadways will be clogged with evacuuees and gas will be difficult at best to buy. All residents should prepare by filling gas tanks, picking up debris in their yard and securing loose outdoor items. Stock up on water, non-pershible items such as canned foods (make sure you have a manual can opener!) and ready to eat items that require no refrigeration. Please make sure you prepare and BE SAFE!!!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-4409811512620780112008-09-09T21:40:00.002-04:002008-09-09T21:51:11.970-04:00Fannie Mae/Freddie Mac Bailouts Yield Lower Interest RatesInterest rates plunged nearly 1/2 a point on the news of the Federal bailout for the mortgage powerhouses of Fannie Mae and Freddie Mac. Interest rates that were 6.26 have suddenly fallen to 5.88%, the best deal in the last eight months. Mortgage lenders are warning that this is temporary, and they are bound to go up soon. In the meantime <strong>take advantage</strong>! On a 200K loan for 30 years the difference would be $49 a month. Almost $600 a year. The average homeowner owns a house for seven years before moving, so that is an average savings of $4,200!<br /><br />If you are looking to buy, now is the time! Both Bryan and College Station real estate have consistantly been good investments.<br /><br />Call today! (979)575-7765 for Coti or (979)574-1084 for ChrisChris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-78259067288780130652008-09-06T10:17:00.002-04:002008-09-06T10:46:12.040-04:00Down Payment Assistance in Bryan or College StationMany first time homebuyers ask about downpayment assistance or special lending programs. For the first time in years there are some new lending programs specifically targeted towards first time buyers and we will focus on those at a later time.<br /><br /><strong>What you must know about downpayment assistance in Bryan or College Station</strong><br /><br />Both Bryan and College Station have downpayment assistance programs directly through the city. These programs apply to income qualified buyers who have good credit and can qualify for a loan. They are based on the number of people in the family and will loan up to $7,500 in downpayment assistance. The income guidelines are quite strict and are related to the poverty level. <br /><br /><strong>These programs fund in October, so it is especially important that you be one of the first to apply.</strong> It's also important to use an agent, such as my team, that is fully qualified to participate in these programs, as there are special provisions to the contract that must be completed. For more information on this program contact us at (979)574-1084 or go to our website www.ChrisTesch.com (for those of you finding this blog independantly). <br /><br />Federal help is available! For first time homebuyers the federal government will give you a tax refund that to help you buy your first home (you must repay it however!), or a primary residence if you haven't owned a home for 3 years or more. Later I'll do a complete article on the ins and outs of this program. In the meantime contact us for more information. <em><strong>Important</strong></em>You can amend your return to get your money NOW, before the interest rates rise!!!!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-71157478712303528532008-09-01T19:38:00.002-04:002008-09-01T20:06:56.069-04:00What You Must Know About Lenders!Can your lender make or break your real estate transaction in Bryan or College Station? ABSOLUTELY!!!! Imagine that you have chosen a home, put down around $1000 earnest money, done inspections (cost of about $500), had an appraisal (cost of $450), and paid various application fees. You're confidentally waiting for the final approval and ready to move in. Can something go wrong? Absolutely! In the past I've had several properties where the closings didn't happen on time. Once the lender doesn't get their paperwork on time there is a chance that it will get sold out from under you and you will be left having done inspections, an appraisal and forfeiting your earnes money because the lender didn't perform. <br /><br />Recently I had an in demand home listed with me. This house is in an amazing area, with over an acre, built in 1939 with beautiful wood floors. The house was on the market for four days before we got several offers. We accepted one with a preapproval letter from an in-town lender. The buyers then decided to go with an internet lender.<br /><br />The transaction was going along smoothly until it was time for the appraisal. The appraiser that the lender hired didn't bother to enter the house to verify information. Our tax assessors have the house at a smaller square footage than recent appraisals have so I carefully documented this in the listing. Apparently the appraiser didn't look at the listing either. The result? An appraisal that didn't come up with a value that clearly (considering the interest) the house had. The buyers wanted a second appraisal, which ended up costing them another $350. Then the lender didn't process the paperwork fast enough ending up with the property not closing on time.<br /><br />The property is back on the market currently and may, or may not, get sold to the people that are "almost there". At this point, if another offer comes in that will work, my sellers will almost certainly accept giving the buyer in this transaction a loss of around $2000. For what? If the transaction took place the buyers might have gotten a 1/8 point decrease in the interest rate. If they were financing 200K and if the interest rate was 6.5 with an in town lender and 6.375 with an internet lender the difference in the payments would be about $16 per month. If they were to live in the house the typical 7 years then the total difference in payment would have been $1344, or less than they lost in having a lender that couldn't deliver what they promised. <br /><br />Many times what you see with the internet lenders is a "teaser" rate that no one qualifies for. Have you seen the internet commercials with people dancing saying that the interest rate is down to "an amazing 3% rate". That truly is amazing. I can tell you that none of my mortgage brokers has a rate that low on their own home....<br /><br />Conider your lender a part of the team. Find someone that you can physically meet with if things go wrong. They are much more likely to fix the issue. We have many good local lenders! If you would like the names of some of them please give me a call!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com1tag:blogger.com,1999:blog-5626328671341155100.post-5913677078659038562008-08-30T16:38:00.003-04:002008-08-30T16:45:59.700-04:00Waterwood Townhomes College StationWe've had some great questions about Waterwood Townhomes lately and I wanted to, in addition to addressing them in private emails, post about the availability currently.<br /><br />Currently there are two Waterwood Townhomes available on the market. One is a three bedroom/three bath offered at $146,500. The other is a four bedroom/four bath priced at $159,900. This, of course, is subject to change, and you should always check to see current availability. Right now is a great time to buy. Most of the parent investors have, of course, already bought and the students are back to school. If you are not going to carry a mortgage on the property it can be an excellent time to buy because it's a great time to negotiate those prices down! If you were going to carry a mortgage it's probably not a good time to buy because you will have on going expenses and no rental income until someone moves in, probably either in December or next July or August.<br /><br />These townhomes have shown great appreciation in the last few years and are likely to show good gains in the future as well. To view these townhomes call Chris or Coti today at (979)574-1084.<br /><br />Gig 'Em Aggies!!!!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-81984160339622863642008-08-25T23:55:00.003-04:002008-08-26T00:12:50.888-04:00Bryan & College Station ForeclosuresMany returning Ags, or even first time homebuyers believe that getting a foreclosure deal will give them instant equity in their Bryan or College Station home, condo or duplex. Unfortunately this isn't always, or even generally, the case. Unless you are buying a home that is significantly more pricey than the average home, or significantly less, then the Bryan or College Station house would have sold before foreclosure with no problem. With our average market time of less than 100 days for homes within the popular 120-180K market, only the truly stubborn homeowner, or the truly negligent, will get foreclosed on. These properties, placed on the open market and priced reasonably will likely receive multiple offers as long as they are reasonably cared for, in the metropolitan areas of Bryan or College Station (as opposed to the smaller towns of Franklin, Caldwell, Snook, Hearne, Navasota), and priced right.<br /><br />The rare decent College Station real estate properties that do go to foreclosure will likely face intense scrutiny and garner multiple offers when finally put up for sale. A typical scenario is the home in Westfield Village that sold in a HUD foreclosure. A HUD foreclosure is a foreclosure for a FHA insured property and notably well priced typically. This home was priced about $10 a square foot under market (about 10% less than market) and was in a great area. The floors needed to be replaced, the house was built with substandard materials and the lot placement left something to be desired with the backyard backing up to a major road. Showing this house was an exercize in frustration with only the rare agent NOT having a client that was interested in it. Multiple offers were gained while other buyers lost out on homes much better suited to their experience waiting to hear how they had fared in the bidding process. When it was all said and done the property sold for over list price and dozens of prospective buyers were disappointed.<br /><br />A better strategy for securing a great buy on a Bryan or College Station real estate purchase is to look for a property that is vacant and costing the owner each and every day that it's on the market. Other possibilities are purchasing in the off season and finding a house that needs work and has been on the market quite some time. An experienced agent can help you, either with a foreclosure or identifying excellent buys on the market. Sometimes a Bryan or College Station foreclosure is not what it's cracked up to be. However, there is almost always a great property out there at a good price for each person. Call Chris or Coti today to find the right property for you!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-61987922577258440472008-08-25T00:43:00.004-04:002008-08-25T00:58:51.057-04:00Picking The Perfect Bryan or College Station Home for SalePicking the right house in Bryan or College Station is, of course, a matter of personal opinion. There are as many distincive homes as there are types of people, and the "right" home for some would be a disaster for others. However, it is important to keep a few things in mind when choosing your next Bryan, Texas or College Station, Texas home.<br /><br />1. <strong>Pick your Realtor carefully</strong>. A good Realtor can make the difference between a successful search and a flop. Finding the right agent can be the first step in finding the right home, and negotiating the right price. Look for an agent with experience. Not necessarily a lifetime...sometimes too much can harm the transaction (do you really want your agent to not be in touch with todays prices?), but enough to help you in evaluating homes and negotiating the price. You also want an active agent. Last month was an extraordinarily busy month in real estate in both College Station and Bryan. Despite that only over <strong>350 units were sold in July</strong>, 08', the busiest month in the last seven years. We have over <strong>640 agents on the books in our BCS MLS!</strong> In July I closed 9 transactions...our srongest 25-50 agents are the ones doing most of the business and are the ones most in touch with the market. Pick your agent amongst those that are actually in the business full time with experience. It will make a better experience all around!<br /><br />2. <strong>Search for your new home with resale in mind</strong>! It may seem strange you right now, but money is made on real estate when it's bought, not when it's sold! You need to negotiate the best possible price on the best possible property for it to be a successful transaction!<br /><br />3. <strong>Stay within the market averages</strong>! Though it goes against many peoples grain, staying within the average purchase price of homes in the area is a smart move. You may be able to afford much more house that the 120-200K that our market pulls, but you will maximize your resale if you stay within a margin of plus or minus 50 percent when buying. Buying a home for over 300K can be a good investment if your are going to stay in place for quite some time. If, however, you are planning on moving (or would like to be able to entertain the idea) within the next 3-5 years stay at under 300K to maximize your return.<br /><br />These are just a few of the tips I can give you to maximize your real estate investment. Call today to set up a complimentary meeting to find out how we can work together to maximize your real estate experience! Call Coti or Chris today at (979)575-7765 or (979)574-1084!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-38462363539622573782008-08-24T14:38:00.002-04:002008-08-24T14:43:03.572-04:00Bryan and College Station Real Estate Soars in July!!!Wow, big gains were had in the final analysis of July 2008 numbers! According to <a href="http://www.theeagle.com/local/B-CS-housing-market-sees-big-July">The Eagle</a> July showed a hotter market for both Bryan and College Station than we have seen in the last seven years.<br /><br />Sales are up and inventory is down. A very promising sign here for the Brazos Valley! Investors, buyers and sellers should look at these numbers and know that now is the time to get off the fence. If numbers stay this strong there is relatively no doubt that housing prices will appreciate better than average.<br /><br />If your looking for an investment, a Bryan home or a College Station home call Coti or Chris today! (979)574-1084Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-49301543056702783912008-08-21T17:19:00.005-04:002008-08-21T17:46:47.391-04:00Bryan and College Station Real Estate MarketMany prospective buyers in our market are looking for information on the state of the Bryan and College Station real estate market. It's been a different year, there is no doubt about it! We have seen some issues pop up that haven't been at the forefront of our concerns in previous years. <strong>For the most part, however, both Bryan and College Station are having great market years!</strong><br /><br />Listings priced between 120-160K are going fast! Average days on the market are around 30 with many buyers being beaten out before we can get back to the office from viewing. Inventory is extremely low. Currently College Station has 50 single family homes between the price point of 120K and 160K on the market. <strong>Last month, at the height of the "housing crisis" we saw 47 homes like this go under contract. </strong>Bryan currently has 57 single family homes listed between the price points of 120K and 160K on the market. Last month Bryan saw 36 homes sold in this range. <strong>Still less than a two month supply!</strong>This is what constitutes a seller's market. The definition of a sellers market is one in which inventory is at a less than 5 month supply of what is selling. <br /><br />Moderate price points of 170K-299K are still relatively balanced in both Bryan and College Station real estate markets. Currently indications of a three month supply is seen in both cities. This is still a seller's market but certainly a less strong one.<br /><br />Higher end price points of 300K and up in both Bryan and College Station single family homes are taking longer and longer to market and move. Currently we are seeing over a six month supply in these price points with much improvement to be had. This is where the hit the seller's market!<br /><br />One of the biggest real estate issues we have had this year revolves around appraisals. Now, more than ever, it is extremely important to use an in town lender as they will use appraisers who know this market. Many times the appraisal comes back too low for the scenario, even with multiple offers. Case in point is a home that I have listed currently in a Bryan non-traditional neighborhood. This is an older neighborhood with mature trees, very centrally located, and has a definate prestige factor. The appraisal from the buyer's out of town lender came back at a much lower price (24K less) than my client originally bought the house for 3 years ago, but we had 4 offers on the property, 3 at full price. Obviously, with that much interest in the home it is improbable at best that we had listed the property for a value too high. In examining the appraisal two things stuck out. The first was that the appraiser didn't bother going into the property and doing their own measurements. We have documented in two different appraisals that the square footage that BCAD (Brazos County Appraisal District) have and the actual square footage are different. The second item is that the appraiser would only take comparables within a mile of the property sold within the last year. For a property in a College Station neighborhood, or Bryan neighborhood that is large, such as Pebble Creek, Edelweiss, Copperfield, Austin's Colony...that would be an easy task. Not so easy with this beautiful Bryan home!<br /><br />Negotiating the waters of a real estate transaction can be difficult! Call today for your very best representation! (979)574-1084Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com2tag:blogger.com,1999:blog-5626328671341155100.post-75238171893068572122008-08-17T12:23:00.001-04:002008-08-17T12:25:12.629-04:00College Station Condos<strong><em>College Station Condos </em><br /> </strong> <br /> <br /> <br />Condos are one of the hottest segments of our market. Though we have some that serve small families and singles nicely, our primary condo market is student living. These can be one of the best investments a parents can make. Condos have many advantages over rentals during a students four to six years here at Texas A&M University.<br /><br /><strong>Apprecation is king!</strong><br /><br />Though some of the scenarios for condos will have you paying just as much for your share as rentals you will walk away with appreciation of, typically 4-7% per year. A typical scenario (with your student paying no rent) is seen in Waterwood Condos. The first year offering for these wonderful 3 and 4 bedroom condos in a gated community was approximately $142,000 for a 4 bedroom, 4 bath condo in 2003. If you had financed this property with 20% down your payment would be $1039 plus the HOA fee of $120 per month (covers exterior maintenance, pool maintenance and lawncare) for a grand total of $1159. Divide this among the 3 other roommates and their rent payment would be under $400 per month. In this scenario if you sold this year you would sell for approximatly $160,000 or an increase of $18,000. <br /><br /><strong>Avoiding the Moving Day Hassles</strong><br /><br />Students living in apartments and other rental situations often find themselves in the situation of having to move. If the owner of the condo that they are living in, in a rental scenario, has to move then they find themselves having to move as well. Moving is costly and takes time for you, and subsequently them. Buying a condo puts you in control of this potentially frustrating situation.<br /><br /><strong>No Lawn Care Worries</strong>Let's face it. When the kids were home they could do the lawn, but not without a bit of gentle reminding! Avoid this hassle by buying a condo as opposed to a single family home (though I do sell single family homes for students as well and we can go over the pros and cons). Relatively maintenance free you won't be receiving voilation notices from the city of College Station when you go with one of these beautiful properties.<br /><br /><strong>Wide Variety of Options</strong><br /><br />College Station offers a wide variety of condo options ranging from one bedroom/one bath (typically older with a bit of remodeling needed) for as little as $40K up to a luxury property featuring 4 bedrooms and 4 baths for between $100K and $200K plus.<br /><br />For your overview of the condo options and a free tour give me a call to set up your complimentary appointment at (979)574-1084, or my Buyers Agent, Coti at (979)575-7765.Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-59560990889496748352008-04-10T22:43:00.003-04:002008-04-10T22:58:34.314-04:00Condos or Townhomes? What's Your Choice?Most of the time people in our area think of condos and townhomes as interchangable terms. They actually are not and can have strict implications when finding financing for your student housing needs.<br /><br />Condos in Bryan or College Station have a shared association that maintains the exterior of the buildings and common areas. With ownership of a condo you own the airspace, but not the land, around your condo. You, as part of the association, do have a share of the land. With the purchase of a condo you do not need to have insurance with most finance companies. Despite their nonstringent requirements please <strong>get insurance</strong>. You still retain ownership of the sheetrock in. If a disaster occurs the association will be responsible for rebuilding the exterior of the structure. You will be responsible for the sheetrock, cabinets, fixtures and finish out of your property.<br /><br /><strong>Financing a condo can have special implications</strong>, but typically only if you are using an FHA loan. FHA will want to ensure two things about the condo association. The first is that it is at least 51% owner occupied. You will not be able to get an FHA loan on a property that is primarily owned by investors. The second is that no more than 10% of the units are encumbered by FHA loans. It is an unusual case where there are more than 10% of a condo project that has FHA insured loans, but ensuring that your project isn't one of them can be difficult at best.<br /><br />Townhomes are considered conjoined (typically) single family structures and have no strict guidelines. You may or may not have a home owner association that will provide common maintenance and maintenance of the exterior. You own the land under your unit and have no FHA guidelines specific to townhomes.<br /><br />Why would you want to go FHA? That's for a different discussion! For more information about different aspects of the Bryan/College Station market go to my blog site at http:/www.BCSRealEstateNews.com. Please give Coti or I a call for all your buying or selling needs here in Bryan-College Station, whether it be a condo or a luxury home!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-70752681223582143172008-04-05T20:07:00.002-04:002008-04-05T20:15:09.539-04:00College Station Condos Going Fast!Condos in College Station have been going fast this year. Sales are brisk in both the condo market and the 150K and below housing market. <strong>Waterwood</strong>, at this time, only has one condo on the market active and it is a three bedroom, three bath. <strong>The Woodlands</strong>recently sold it's last four bedroom, four bath condo. <strong>Fox Run </strong>still has many three bedroom, three baths, but only one two bedroom, two bathroom unit available. <strong>Canyon Creek </strong>has only experienced modest sales this year. <strong>Deacon Condos </strong>on Fraternity Row are completely sold out currently also. <br /><br />If you are looking for student housing call or email! We can set you up on a search and call you or email you when anything comes available on the market for sale. We are full service Buyer's Agents and can show you anything on the market as well as negotiate the best price for you.<br /><br />If you are looking to sell student housing give us a call and find out about our progressive marketing program.Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com0tag:blogger.com,1999:blog-5626328671341155100.post-69986183865692061602008-01-16T03:53:00.000-05:002008-01-16T03:54:30.477-05:00College Station Home on AcreageBryan and College Station are filled with both city lots and wide open spaces. Moving here you will need to make a decision about how you want to live. Is a small city lot for you? Would an acre or more be right? What about a property you can have horses on? Easily found in certain price ranges here (typically 250K and up, but sometimes lower, pricing will go up to over 1 million). Things to consider are land upkeep, and costs associated as well as garbage pickup, septic system costs (a contract with a reputable maintenance company is required by Brazos County). Some of the pleasures are wide open spaces and the ability to see the stars brilliantly at night!<br /><br />If you’re in the category of the acreage lover, are you looking for the perfect spot to call home? Consider this gorgeous 3 bedroom/2 bath on five rolling acres near the Brazos River! Zoned to the newest College Station elementary school, Forest Ridge, this fantastic property is sure to please! A three stall barn and tack room, fenced corral and beautiful stone firepit are all designed to make your outdoor living more enjoyable! Remodeled interior features new granite tile countertops, a more open floorplan and beautiful new tile and carpet. Call for your private showingChris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com2tag:blogger.com,1999:blog-5626328671341155100.post-24895613548563526382007-12-30T06:25:00.000-05:002007-12-30T06:46:17.644-05:00College Station Real Estate in 2008, Meca, or Disaster?The news has been bombarding us with information about how low new housing starts are; as well as how "prices are plummeting" on existing homes. In many cases what the reporter is doing is taking statistics from one area and applying them to the nation. No matter how you slice it, Bryan and College Station real estate is very different from San Francisco real estate, or New York real estate or, as as matter of fact, any other real estate market in the United States.<br /><br />Nationally there has been a downturn in sales. Most of the areas affected by this are in places where double digit increases in value previously were the norm. Bryan College Station, in contrast, has had steady, but slow appreciation with rates ranging from 3% to 7% per year. We have actually had some of our highest appreciation while some markets have suffered.<br /><br />Our market is a dynamic market. We constantly have professors, college students and administration moving in and out. Bryan-College Station also has many non-university jobs that are just moving into town. This doesn't guarantee that we will never have a slump, but plummeting prices are highly unlikely.<br /><br />A couple of years ago a very nice reporter for the Wall Street Journal came to College Station to interview me and several other top agents in the area. His first question to me when we were face to face is "show me the houses that haven't been selling in the area". He truly didn't want to hear that the market was robust and that we were, overall, in very good shape. He neglected the fact that our average sales price home (at the time right around 150K) was showing days on the market of less than 90, and in certain segments hardly 30. Some of the other agents cooperated with him by showing him homes that were priced twice our market average that were suffering from market lag. College Station luxury homes do tend to sit on the market a bit longer than the average home. Sales, however, in this segment have recently been picking up. Just goes to show you, if you look hard enough you can always find the black lining in the silver cloud!<br /><br />Overall we are expecting 2008 to be a great real estate year. It will be slower than the boom times that we were experiencing in the 2002-2005 time frames, but still a very healthy market.<br /><br />For more information about College Station real estate or our market overall don't hesitate to email me or call me at (979)574-1084. Have a Happy New Year!Chris Tesch, RE/MAX Bryan-College Stationhttp://www.blogger.com/profile/03875229335847488122noreply@blogger.com1