Picking 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.
1. Pick your Realtor carefully. 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 350 units were sold in July, 08', the busiest month in the last seven years. We have over 640 agents on the books in our BCS MLS! 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!
2. Search for your new home with resale in mind! 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!
3. Stay within the market averages! 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.
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!
Monday, August 25, 2008
Sunday, August 24, 2008
Bryan and College Station Real Estate Soars in July!!!
Wow, big gains were had in the final analysis of July 2008 numbers! According to The Eagle July showed a hotter market for both Bryan and College Station than we have seen in the last seven years.
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.
If your looking for an investment, a Bryan home or a College Station home call Coti or Chris today! (979)574-1084
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.
If your looking for an investment, a Bryan home or a College Station home call Coti or Chris today! (979)574-1084
Thursday, August 21, 2008
Bryan and College Station Real Estate Market
Many 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. For the most part, however, both Bryan and College Station are having great market years!
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. Last month, at the height of the "housing crisis" we saw 47 homes like this go under contract. 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. Still less than a two month supply!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.
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.
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!
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!
Negotiating the waters of a real estate transaction can be difficult! Call today for your very best representation! (979)574-1084
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. Last month, at the height of the "housing crisis" we saw 47 homes like this go under contract. 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. Still less than a two month supply!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.
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.
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!
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!
Negotiating the waters of a real estate transaction can be difficult! Call today for your very best representation! (979)574-1084
Sunday, August 17, 2008
College Station Condos
College Station Condos
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.
Apprecation is king!
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.
Avoiding the Moving Day Hassles
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.
No Lawn Care WorriesLet'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.
Wide Variety of Options
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.
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.
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.
Apprecation is king!
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.
Avoiding the Moving Day Hassles
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.
No Lawn Care WorriesLet'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.
Wide Variety of Options
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.
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.
Thursday, April 10, 2008
Condos 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.
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 get insurance. 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.
Financing a condo can have special implications, 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.
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.
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!
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 get insurance. 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.
Financing a condo can have special implications, 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.
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.
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!
Saturday, April 5, 2008
College 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. Waterwood, at this time, only has one condo on the market active and it is a three bedroom, three bath. The Woodlandsrecently sold it's last four bedroom, four bath condo. Fox Run still has many three bedroom, three baths, but only one two bedroom, two bathroom unit available. Canyon Creek has only experienced modest sales this year. Deacon Condos on Fraternity Row are completely sold out currently also.
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.
If you are looking to sell student housing give us a call and find out about our progressive marketing program.
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.
If you are looking to sell student housing give us a call and find out about our progressive marketing program.
Wednesday, January 16, 2008
College Station Home on Acreage
Bryan 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!
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 showing
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 showing
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