For all your Spring/Tomball/Magnolia TX Real Estate needs, contact me today!
Marchel Peterson
Results Realty
Cell: 832-721-8332

We lived in Denver for 15 years and I still have family there so fly back several times a year.  From now on in my mind I will always see those swing dancers at Jeppesen Terminal.  I thought it was so much fun to see these young people dancing to swing music.  I hope you enjoy it as much as I did!!

Lake Conroe Sailing Associations Thursday night races are continuing despite the hot temperatures and the drought. Typically in the summer our winds die down and lots of races get canceled due to lack of wind. Not so this year!

At this point most people can still get their boats out for the Thursday night races but if this drought continues that might not be the case.  Lake Conroe is alternate water supply for Houston and I hear that Lake Houston is so dry they are going to have to start taking water from Lake Conroe.

Again trying to find a positive out of our drought we do have a lot of wind so consider coming out to join us on Thursday nights. You don’t have to own a boat to participate people are always looking for crew. I help on the committee boat and my husband crews. For more information visit Lake Conroe Sailing Associations website.

PRAY FOR RAIN!!

For all your Spring/Tomball/Magnolia TX Real Estate needs, contact me today!
Marchel Peterson
Results Realty
Cell: 832-721-8332

Everything is negotiable but usually you will have put $100 (plus or minus) down for a 5 to 10 day option period. (These are not business days so time is of the essence.) This option period gives you the time to do your home inspections however  as I said you can opt out for any reason during this period and you will only lose your option fee; your earnest money will be refunded. Typically a seller will allow you 10 days but that time can vary.

This option period starts once you have finished negotiations and all parties have signed the contract; you now have a fully executed contract. Prior to this it was called an offer but you are now under a legally binding contract.  The option period starts counting the day after the contract is fully executed by all parties.

Foreclosures typically don not ask for an option fee but give you 5 to 10 days to inspect the property.  For foreclosures only this is often written in special provisions and it is usually addressed in the foreclosure addendum’s.  I have found that many foreclosures only allow 5 to 7 days. These are not business days; time is of the essence and strict compliance with the time for performance is required.  I know that does not sound like many days but inspector’s are use to being on this short notice and I have never had a problem with getting inspections done during that period.

If the inspections uncover more than you bargained for this is the time to back out.  Actually you can back out for any reason during this option period and the only money you will lose is the money you put down for the option and the cost of your inspections. The earnest money will be returned to you in full as long as you provide the owner a  termination letter in the agreed upon days. Again time is of the essence!

I have heard from clients that there are states where the only ramification of backing out at any time during the process  is losing your earnest money but that is not the case in Texas.   In Texas you will usually  lose your earnest money and you also may be sued for specific performance.  In my experience most seller’s will just move on but they do have the option of suing.  Long story short the time to back out if you are so inclined is during the option period.

I have lived in four states and each state has handled the home inspection process in a different manner. Personally I like this process the best of those I have come across.

For all your Spring/Tomball TX Real Estate needs, contact me today!
Marchel Peterson
Results Realty
Cell: 832-721-8332

Westwood, Magnolia TX

Westwoodis located on both sides of FM 1488.  The two sides of Westwood are caddy corner to each other.  Westwood is south of FM 1488, west of FM 2978 and to the east of Tamina. Westwood is also to the north of FM 1488 and to the east of FM 2978 going east to Westwood North. Westwood is actually closer to The Woodlands than it is to the actual town of Magnolia.  The actual town of Magnolia TX is about 10 miles west on FM 1488.

Westwood has been a subdivision since the late 1970′s. You will find homes in Westwood built from as early as 1978 to the present.  This is one of the many subdivisions that were affected by Houston’s oil bust of the late 1980′s. We moved here in 1996 and I remember driving around in Westwood shortly after that and being amazed at how many lots were still available. That is no longer the case as much of the subdivision has been built out by small custom builders.  If you are looking to build you can still find lots but they are going quick.

One of the beauties of Westwood is the low taxes. There is NO MUD DISTRICT! The subdivision enjoys community water and each home has their own septic. The older homes may have a traditional septic but homes built since 1996 will have aerobic septic.  This makes for a low property tax rate of $2.17 per 100 value.

Westwood does have a home owners association but the deed restrictions are lighter than most subdivisions. For instance you may keep a travel trailer, boat or RV in your front yard.  Westwood is one of the rare subdivisions that will allow this.  The HOA fees are also quite reasonable at $150 per year. This fee includes two swimming pools; one located on both sides of FM 1488. There is also a community park, tennis courts and a picnic area. This is truly a bargain when you consider that most subdivisions with this kind of amenities have much higher home owner dues.

Home prices in Westwood in the last year have varied from a low of $67,000 (a foreclosure) to a high of $310,000. The average sales price for the year was $193,000.  Square footage ranged from 1400 square feet to 3200 square feet. The average square footage was 2250 square feet.

Westwood is located in the highly acclaimed Magnolia ISD.  The grade school is Ellisor, the intermediate is Bear Branch and the High school is Magnolia High School.

If you are looking for a country subdivision that is a decent drive to Houston or IAH then this may be the place for you.  There’s a Signature Kroger on the corner of FM 1488 & FM 2878; along with a Ross, Office Max, Petsmart etc. etc. As an added benefit you can be shopping or eating in The Woodlands within 15 to 20 minutes.

Come home to Westwood, Magnolia TX!

Photos are for illustration purposes only and do not necessarily represent current or past listings.

It has been incredibly dry in Spring TX this spring so we have been making a concerted effort to keep our bird bath full as the birds are quite thirsty.  The other morning I noticed a beautiful blue bird land on the bird bath and ran for my camera.  It was the right place at the right time as before I knew it my beautiful blue bird had been joined by 4 friends.

____________________________________________________________________________________________

If you are buying or relocating to Spring TX, Magnolia TX or Tomball TXand need help from a professional REALTOR®, Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332.

If you would like information about Spring-Tomball TX please visit my websites at www.AgentwithResults.com and at www.ResultsRealtytx.com.

Want to find out about new Spring-Magnolia-Tomball TX properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Click the button to the left to search our local MLS.

In the homes built prior to around 1998 you will probably find the conventional septic systems.  After 1998 most of the septic systems are going to be Aerobic septic.  In both Harris and Montgomery Counties I think the only septic that is available is now the aerobic septic.  As these conventional septic tanks get older many of them don’t pass inspections.  When they don’t pass inspections the remedy usually ends up being with the owner having to put in a new aerobic septic.  You are probably looking at a cost of $6000 to $8000 depending on how big of a system that you get. This is something that is regulated by the state and counties so you will need to get your permits.

The Aerobic septic acts like a small scale sewage treatment system.  It is similar to a tank system but produces a high quality secondary effluent which is sterilized and then used for surface irrigation.  This means that at someplace on your property there will be a sprinkler system that will go off at night watering the yard so to speak with the discharge.  You will want to mark the sprinkler head so you don’t run over it with the mower.  Should you have any problem with the sprinkler heads you can find replacement parts at your local hardware store.

You MUST have a maintenance contract with an aerobic septic system company.  This is a requirement and if you don’t chances are the county will find out and ask you to see them in court.

There’s not a lot of maintenance involved but you will have to put chlorine tablets in (believe me you will know if you forget to put them in).  These are not the same tables as you use for a pool.  Typically you can put in two tablets at a time and then check every 2 weeks to see if it needs more.

Basically the difference between the aerobic system and the old tank system is that the fluids are moved to the end of the line and then they are disbursed onto your lawn by a sprinkler system.  I know that sounds gross but it does not smell and you will probably find that to be the greenest part of your yard.

______________________________________________________________________________________________

If you are buying or relocating to Spring TX, Magnolia TX or Tomball TXand need help from a professional REALTOR®, Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332.

If you would like information about Spring-Tomball TX please visit my websites at www.AgentwithResults.com and at www.ResultsRealtytx.com.

Want to find out about new Spring-Magnolia-Tomball TX properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Click the button to the left to search our local MLS.

Some of the daunting challenges we face.

1. Business uncertainties from Washington policies
2. The great credit contraction
3. Budget cuts for states, cities and school districts.

One of the things that I came away with is that as a state Texas is weathering fairly good.  A few years ago I would have told you that we had not been hit as we really did not have a bubble to burst.  That is not the case any longer.  He explained it about the best that I have heard.  Here in Texas we did not experience a home price bubble we experienced a home sales bubble.  The majority of our problems stem from the loans that were given since 2003.  He explained that prior to that we had 17 homes sold per 1000 houses.  During the no income/no assets loans that increased to 30 home sales per 1000 households.  As he explained that was unsustainable and it is what we are dealing with now.

He was honest in that it took us sometime to get in this mess and it will take some time to get out of it.  He said in all truthfulness this has been going on for a long time going clear back to LBJ’s administration.  We have been living beyond our means for a long time. We will have some pain as we reel in from the excesses.  

Future home sales are going to be dependent on job growth, mortgage rates/credit terms and home price affordability.  Up to this point the American way has been to buy high and hope for higher.  That said he said that NOW is probably the opportunity of a lifetime to a buy a house.  Who would have thought we would see interest rates of 4.5% or less.  He talked about the interest rates of the 1970’s when 12% was considered a good rate.

In the excerpt below he talks about the characteristics of a recession.  The graph that shows the difference between unemployment between those who have a college degree and those who do not is an eye opener.  As he said if there was ever an advertisement to get a degree this is it.  If you have a son or daughter who is deciding whether they want to go to college this is a clip you might want to show them.

In his closing thoughts he said we will get through this.  The other thing we have going here in Texas is a huge influx of people moving to our state.  There are many places in our state where the market has stayed relatively flat and in my mind with this economy; flat is good.

I have been asked by many Spring TX first time home buyers what they will need to bring to closing. The first item that comes to mind is of course funds to close. I have had a few Veterans who did not have to bring funds to the closing table but not many. With the changes in the loan industry most 100% loans are gone so you will need some cash.

The money to pay all your fees and closing cost will need to be in the form of “guaranteed funds” such as a Cashier’s Check. Your agent or escrow officer will notify you of the exact amount. You will receive a closing document required by HUD that outlines the settlement cost. The Title Company prepares this document. The HUD statement is a little difficult to read as you read it backwards. You start with page two and then go back to page 1. Page 1 is the page that shows the funds you need to bring for your real estate closing. For additional information on HUD statements go here.

In a perfect real estate world a Tomball TX first time home buyer  would receive the HUD statement the day before closing so you would have time to go over it before closing. Unfortunately real estate is not perfect; I can’t tell you how many times we get the HUD from the Title Company at the closing table. I honestly don’t know why it takes so long but it is a very complex process. Should that happen you can bring a check using the figures your lender have come up with from your good faith statement. Should you not bring enough money you can write a personal check to the title company for up to $1500. On the flip side if you bring too much money the Title Company will cut you a check for the overage.

The other item you will need to bring is a picture ID such as your driver’s license or a passport. A number of years ago I had a client who was moving to another state. He came back  for the closing and to get his furniture. A few days before closing I found out that he had turned in his driver’s license to the other state and only had a piece of paper for a drivers license. He did not have another picture ID. Back then I talked the title company in to letting us get a membership at Sam’s Club and using it as a picture ID. As I told you this was quite a few years ago I’m not sure if that would fly today.  Long story short I highly recommend not turning in your driver’s license if you are planning on buying a house unless you have another type of picuter ID.

________________________________________________________________________

If you are buying or relocating to  Tomball Texas and need help from a professional REALTOR®,  Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332. 

If you would like information about Tomball please visit my websites at http://agentwithresults.com and at http://www.resultsrealtytx.com/.  The AgentwithResults site is rich in Content about the area.  If you prefer pictures with your content then visit my ResultsRealtyTX site.

Want to find out about new Tomball TX properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Click the button to the left to search our local MLS

I am going to tell you why I don’t think that is a good idea living in the Tomball area.The problem with not buying in a subdivision in Tomball TX is that WE DO NOT HAVE ZONING IN Tomball TX.  Since we don’t have zoning it is a free for all.  People can build whatever they want wherever they want it. It is not uncommon to see a nice home next to a trailer on cinder blocks in unrestricted areas. You do have protection in the City of Tomball but much of the Tomball market area is not actually in the city of Tomball.   

I will never forget when I found out that the Houston area did not have zoning.  We moved to the area in 1996 and as I was taking the classes to get my real estate license one of the instructors nonchalantly said “well you know we don’t have zoning in the Houston area”.  I almost fell off my chair. I had thought every area was zoned. Well that is not the case the Houston area is one of the few large cities if not the only large city that does not have zoning.

I have lived in three different states besides Texas.  Those states being Kansas, Colorado and North Carolina.  All of the areas I lived in had zoning so it was no big deal not living in a home owners association (HOA). I was a little apprehensive about living in a HOA and having someone telling me what I could and couldn’t do with my own house. The longer I have lived here I have realized the value of living in a HOA.  By having deed restrictions it helps me to maintain my property values.  To give you an example a few years ago my husband worked with someone who bought out in the country in a non-restricted area.  The guy loved it until the house next door was sold and the new owner decided to make it in to a salvage yard.  His property values took a nose dive when the salvage yard opened.

The good news is that there is just about something for everyone as far as homeowner’s associations go. There are associations with all kinds of restrictions such as in master planned communities and there are HOA’s that allow you to have mobile homes.  In Tomball you can find subdivisions all the way between the two extremes.  There are not many country subdivisions left in Tomball.  There are a few scattered around but if you want country living you might want to look at Magnolia.

The HOA’s fees also vary greatly. I have seen fees as low as $10 a year and as high as $1500.  There are even a few subdivisions that have deed restrictions but no fees.  Most of the suburb HOA’s have similar restrictions.  If there is something in particular you are interested in doing it is a good idea to look the deed restrictions over before you ever put an offer on a house. It is a fairly easy process to get the deed restrictions; usually you can get them from a local title company. It is important to decide what kind of restrictions you are looking for and find your home in a HOA that meets your needs.

________________________________________________________________________

If you are buying or relocating to  Tomball Texas and need help from a professional REALTOR®,  Marchel can be reached at Marchel@AgentwithResults.com or by phone at 832-721-8332. 

If you would like information about Tomball please visit my websites at http://agentwithresults.com and at http://www.resultsrealtytx.com/.  The AgentwithResults site is rich in Content about the area.  If you prefer pictures with your content then visit my ResultsRealtyTX site.

Want to find out about new Tomball TX properties immediately as they come on the market, then click here to sign up for a free automatic notification of new listings.

Click the button to the left to search our local MLS