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The Woodlands : Real Estate Advice

  • All128
  • Local Info16
  • Home Buying40
  • Home Selling8
  • Market Conditions10

Activity 48
Fri Apr 30, 2010
Joseph Domino answered:
Actually this is good. It substantiates the value of your property and validates the sales price all in one fell swoop.

Now just think, if the appraisal had come in higher you would be thinking you "are leaving money on the table". If it came in low you would be lowering the price. Both situations would have caused a lot of grief for somebody.

In this case the appraiser did you a favor. I do not always agree with appraisers "rubber stamping" the appraisal to meet a contract price but if it is a fair deal for both parties then you are all better off in the long run.
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Wed Apr 14, 2010
Barbara Robin answered:
Typically due the master planned community aspect of The Woodlands, yes it is usually easier to sell a home in The Woodlands. Let me know if you have any other questions!
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Tue Jan 26, 2010
Julie Young answered:
I just did a quick report of the homes sold in 77381 in the past 6 months and my result was $301,688. I would need more information about the home to find similar comps for a more accurate answer. The homes ranged from $99,000 to over one million. So just and average price is not going to be helpful. Please let me know if I can be of assistance.

Julie Young
281-734-4846
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Fri Apr 30, 2010
Lydia Player answered:
Sorry, but I don't think you will find anyone willing to enter into a lease or a purchase contract with no credit check unless you are willing to put down a huge sum as a security deposit / earnest money. Be prepared to pay over market value if your credit is poor. ... more
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Tue Jan 5, 2010
Tommy Burris answered:
No one can answer that.
Real Estate is local.... You need a realtor to guide you.

X% doesn't mean anything..... Depends on the neighborhood.
0 votes 11 answers Share Flag
Wed Feb 2, 2011
Robyn Brand answered:
We have several homes available with a seconday bedroom down as well as a couple with "casitas" . 19 Loftwood has a section of the downstairs that could easily be "separated" for a mother in law to include a living, bedroom and bathroom space! This home is on the golf course and listed at 998,900 ... more
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Wed Nov 4, 2009
J R answered:
There are probably 3 houses for sale on the same street because there are a lot of houses for sale everywhere. I once listed a house, there were 7 on the street, 4 were for sale. Mine was the only one that sold, two took their home off the market and the last one is still for sale (has been for 3 years). Mine was the only motivated buyer. So 3 houses for sale on the same street probably means nothing in this market, but why not strike up a conversation with the neighbors who are not selling and find out what the story is, if there is one. ... more
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Wed Sep 9, 2009
Martina Lothert answered:
Dear Mette,
It is The Woodlands or Shenandoah. There are so many neighborhoods to name and it is also depending on the price range you are looking in.
If you are not already working with a Real Estate Agent I would like to help you find your new home.
You can contact me by email: mlothert@kw.com or just call me at 936-525-0144 so we can talk about the requirements for your new home. I would be happy to assist you with this big decision of a home purchase. If you are a first time home buyer you might even be eligible for the Federal First Time Home Buyers Tax Credit of up to $ 8,000.

Best Regards
Martina Lothert
REALTOR®
936-525-0144
mlothert@kw.com
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Mon May 23, 2016
Dana Schuster answered:
I seriously doubt that any property owner would enter into an arrangement like this without a credit check.
0 votes 14 answers Share Flag
Thu Oct 21, 2010
Keith Sorem answered:
Allison
I am sure you are going to receive some responses from Realtors that work in that area. I do not, however I would like you to be aware of this:
In almost all cases, homes that sell in the first month will sell closest to asking price. Why is that important? Because if you are trying to sell for the highest price possible, your goal should be to sell within the first 30 days. As a property sits on the market, it loses value.

In my MLS, homes that sell within 30 days sell for 98.5% of asking price. At 120 it goes down to 93.6% of asking...and that would be AFTER a price reduction or two. However, the AVERAGE Days On Market (DOM) in my area is 110 days. So that means that about 25% of the properties are listed and sold within 30 days (I would call them the properties offering buyers the best value). That means that the OTHER 75% of the listings have LONGER DOM, some up to a year!

So when you talk with your Realtor, ask them what their plan is to sell your home, and pay attention to the time frame. In real estate, homes have a short shelf-life.
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Mon Jan 21, 2008
C. Carroll asked:
Thu Apr 24, 2008
LS answered:
Thu Jul 24, 2008
Ron Wickes answered:
Under the National Association of Realtors ethics rules an agent is required to present all offers to sellers even if there is a contract in place. Where you represented by your own agent in this transaction? If you were not and used the listing agent without signing a buyers rep agreement please know that under Texas law all agents loyalties must go to the seller. It is imperative that all buyers have their own agent and sign a buyers rep agreement. ... more
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Wed Jan 23, 2008
LS answered:
I think this solely depends on what time of sale it is. (HUD, foreclosure, for sale by owner etc) In many cases, the 1st who offers has the opportunity to offer more. When bidding on HUD properties- they treat all offers as though they were received at the same time. In short, I think the bottom line price is what the seller looks at. (what they get after fees, closing etc. is deducted) ... more
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Wed May 5, 2010
Amanda Nicodemus answered:
My aologies for answering your question so late! But it just showed up on my list today. The Woodlands is an upscale area north of Houston and is a very sought after community because of its integration of forest like environment not to mention, the Cynthia Woods Mitchell Pavillion, the Woodlands Mall, Miles of walking/jogging/biking trails! It like being surrounded by nature & yet close enough to the city of Houston! Personally, I would not recommend buying an investment property here because of the higher prices compared to properties in Houston. If you're looking for immediate cash flow, the Northwest Houston, or North Houston area will yield a better cash flow, but of course that depends on the particular property. Rental rates in the area start at $900 up to $1,500. It really doesn't matter if you live in a different state. You can always hire a management company to manage your property. They will charge a small fee & take care of any issues that may come up. Feel free to contact me for more information. ... more
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Tue Sep 25, 2012
Stephanie Edwards-Musa answered:
Hi Lee, The Home finder center will allow you to put Full Color flyers in their building with directions. They are located on Woodlands Pkwy right before Grogan's Mill. However, there is speculation that they use those flyers to pick up signs. Who knows.

The flyers seem to work best for my office. I will be anxious to see what other agents in the area say.
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Fri Aug 28, 2009
Keith Sorem answered:
Tim, are you referring to the Woodlands in Texas? Or the Verdugo Woodlands in Glendale, CA?

Your questions in general are exactly on track. Although not a Woodlands, TX agent (I'm in Glendale, CA) I would like to offer a few investing tips that might help you.

If you don't own any investment property (let's say only your own home), one option is to purchase a new home where you live (upsize or downsize). Your basis -taxwise is low and if you have owned the property for a few years, you know about its maintenance, issues, etc. Plus, being local, you could manage it yourself. I see quite a few pluses to owning a rental near your area.

Let's look at purchasing rental property (regardless of area). I first suggest doing research. "The Millionaire Real Estate Investor" is a very good book that would be helpful. There is also a website called millionairesystems dot com that has some very helpful (and free) downloads referred to in the books, such as cost analysis spreadsheets, things like that.

I will summarize a few basic principles:
1. You will want to purchase in an area that has good, long term potential. Buying in a market that is down now is usually a good long-term strategy.
2. The specific purchase goes from city, to area, to neighborhood, to block, to property. One rule of thumb is that you will regret more purchases that you have made, than purchases you have not made...you don't need to buy.
3. Buy at least 20% below market. You'll make money even if you need to sell it earlier than you thought.
4. I strongly recommend purchasing property you can manage. Paying a management company a 5% -10% fee to manage the property (plus have Q/A issues) is a dicey proposition.
4. Your question about current rents is right on. Also, look at future planned development. Is the area built out? What is the current inventory of SFRs?

5. Talk with a REALTOR in that area and get a handle on where the market is in the housing cycle. Every market is in a cycle.
6. Plan on long term. If you could purchase one home a year, buy leveraging the equity in those homes you should be able to create a nice retirement cash flow relatively easily...just know that markets go up and down.
6. Look at your personal tax picture. How will the properties' income and expense affect your tax base.

Lastly, your 20% down, cash flow question. I recommend running prospective properties through the spreadsheets I referenced earlier. Look also at pre-tax versus post-tax when assessing cash flow.
Also, look at expansion potential: Purchasing a run-down two bedroom in a nice neighborhood, then adding a third bed room and second bath, then fixing it up overall, will net you a handsome profit almost anywhere. The cost of construction is almost always less than the cost of purchase...again, do your homework.

Hope this is helpful.
Good luck
Keith
.
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Thu Sep 27, 2007
Joy Otrey answered:
The villages of The Woodlands were designed with quality of life in mind. Each village is complete with shopping centers, schools and recreational facilities. It's convenient and comfortable. Home choices range from affordable condominiums to country club estates. ... more
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Sat Nov 14, 2009
Joy Otrey answered:
We live in secure and caring environment. People are outdoors, working in their yards, walking their dogs, and enjoying the many parks. The Woodlands has local law enforcement and we even have mounted patrol in Town Center. ... more
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Sun Jul 15, 2007
Joy Otrey answered:
The Woodlands is a haven for families. Superior schools, family entertainment, community events and organizations, and sport opportunities make this choice the right choice for families. ... more
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