Ask The Michelle Cannon Team

Top Five Healthiest Housing Markets For 2013

The New Year is barely upon us, but already real estate professionals and investors up and down the country will be wondering aloud what the next twelve months of our tumultuous housing markets will bring.

Luckily for us, Trulia has our backs, rounding up a list of what it reckons to be the healthiest real estate markets in the country going in to 2013. Today we take a look at the top five markets, showing how essential factors such as home prices, home sales, employment, and foreclosure stats are affecting each one.

1: Houston, Texas

Pretty much the entire state of Texas is riding a wave of steady growth at the moment, with several of its cities showing up on Trulia’s list of improving markets. Chief among them all though is Houston, whose market has been given a huge boost by one factor above all else – jobs, and lots of them.

Job growth has helped to propel the demand for housing in Houston, resulting in the city’s inventory falling to a ten-year low last October, whilst condo and townhouse sales jumped by almost 41.6% compared to one year ago. Even better, according to RealtyPin.com, the fact that Houston has plenty of job opportunities and foreclosures have all but dried up means that the city is unlikely to be hampered much by the fiscal cliff.

2. San Francisco, California

The healthy state of San Francisco’s real estate market was confirmed recently by a report from the Urban Land Institute, which forethe Californian city would be number one in the country for investment, development and house building in the New Year. Supposing we do see more investment and development as the experts predict, San Francisco is likely to see further demand for housing and yet more price increases.

Other statistics backing up San Francisco’s positive outlook include rental prices, which have jumped by more than 15% over the last year, according to the SF Examiner, and housing inventory falling by more than 40%. Finally, an explosion in the number of tech-related jobs won’t hurt things either.

3. Bethesda-Rockville-Frederick, Maryland

The driving force behind the Bethesda area’s notable 3^rd place is foreclosures – or rather, the complete lack of them. Its market currently has one of the lowest foreclosure inventories of any city in the nation, which, coupled with strong growth in its jobs market means that it’s one of the most promising areas around as far as real estate is concerned.

Bethesda currently boasts an extremely low foreclosure rate of just 2.7 homes per 1,000, while its vacancy rate has fallen to just 1.2%, as of November 2012. Nearby, Washington DC is also seeing a strong recovery, further bolstering Bethesda’s own prospects for 2013.

4. San Antonio, Texas

The fact that San Antonio’s housing recovery is outpacing that of pretty much every other metro area in Texas shouldn’t come as a surprise, not when you consider that the city actually fared much better during the real estate crash than most others. In fact, San Antonio seemed to be in a league of its own during the recession with average home prices actually increasing while cities all around it crashed and burned. Now that things are picking up across the state, it looks like San Antonio could be the one to lead the charge.

5. Austin, Texas

Austin has seen huge gains in the number of home sales over the last year and a half. In fact, last November saw the city score an impressive 18 months of gains in its overall home sales volume. Also helping Austin is that it remains one of the best seller’s markets in the country, with homes valued at $200,000 or less typically selling in three months or less – much faster than most other parts of the country.

Holiday Safety for Homeowners

For many homeowners, decorating is one of the most exciting and tradition-driven parts of the holiday season. Lights, candles and other bright decorations can all be great ways to make your home look festive for the holidays, but faulty wires and open flames can quickly lead to disaster if precautions aren’t taken. There are several steps you can take to holiday-proof your house in order to prevent accidents and ensure that your family and home remain safe—and festive—all season long.

Lights and Electricity

Purchase lights and equipment from a reputable vendor and check labels for safety certification. If you’re taking old décor out of storage, inspect all lights and cords for damage before plugging them in. If a string of lights has broken bulbs or exposed wires, throw it out. Invest in a light timer or set a schedule to ensure you never leave lights on too long, and make sure to unplug everything before leaving the house or going to bed. Avoid overloading outlets or extension cords with too many plugs. Not only is this a potential fire hazard, it can cause electrical damage that could leave you with a hefty repair bill.

Trees

If you buy a real tree, be sure to keep it watered at all times. A dry tree will catch fire much faster than a well-hydrated one, and in heated rooms, trees lose water rapidly. For those who prefer artificial trees, make sure to choose one labeled “fire-resistant.” In addition, use non-flammable ornaments and tree trimmings for maximum protection.

Candles

Never leave candles unattended. Keep open flames out of the way, where small children and pets can’t knock them over. Be sure to extinguish candles before leaving the house or going to bed, and take care to ensure that wax drippings don’t damage flooring or furniture.

Outdoors

Test your home’s ground fault circuit interrupters (GFCIs) to make sure they are working properly—they are the first line of defense against electrocution. Ensure that all decorations and extension cords are designed for outdoor use and keep electric objects away from snow and water. Inspect all equipment for damage before use, and take proper safety precautions when using ladders and power tools.

Everything Else

Test all fire and carbon monoxide alarms to make sure they work correctly. If a rogue candle or faulty wiring leads to a fire, you want to be alerted as soon as possible. On a similar note, prepare an emergency plan for fires or other disasters, and make sure your family and house-guests know what to do in the event that something does happen. Keep fabrics and other flammable materials a safe distance (three feet is a good rule of thumb) away from heaters and vents, and consider childproofing electrical outlets.

By following these tips and sharing them with your clients, you can ensure a happy, healthy and safe holiday for all.

Dan Steward is the President of Pillar to Post Home Inspections.

For more information, visit www.pillartopost.com ^[1].

Activity around the new Springwoods Village master planned community is picking up with the development’s initial infrastructure built and the new ExxonMobil campus taking shape.

And for Keith D. Simon, executive vice president and director of development for CDC Houston, seeing the progress is a welcome sight.

“It has been a long time in the making for this Springwoods Village project,” Simon said. “We purchased this land in 1961.”

Simon said the $35 million Phase I infrastructure development is complete and represents the foundation of the community.

“It took five separate contracts to build all that, including a water treatment facility,” he said.

Contracts for the Phase II infrastructure, totaling about $35 million to $40 million, are expected to be awarded over the next three to four months. That construction, Simon said, will run through the first part of 2013. The first project of the Phase II infrastructure development is the construction of Holzworth Road and was awarded to Texas Sterling.

“All of this represents the first phase of Springwoods Village, which includes the ExxonMobil campus,” Simon said. “It also includes the newly announced Southwest Energy corporate headquarters project.”

Bordered by Spring Creek on the north and Spring Stuebner Road on the south, the 1,800-acre Springwoods Village will be nestled near Interstate 45 and the new Grand Parkway.

Earlier this year, CDC Houston announced developers Taylor Morrison, Sullivan Brothers Builders and Martin Fein Interests would develop the initial residential areas from large, single-family luxury homes to luxury multifamily properties.

A place to call home

Simon said by November 2013, the first residents of Springwoods Village are expected to be moved in. The residential population is planned to grow to about 15,000 people.”

Jason Schlager, with Martin Fein Interests, said his company will build about 342 high-end multifamily housing units in their project called The Belvedere. Ranging from about 539-square-foot studio apartments to 950-square-foot three-bedroom units, the average price will be about $1,500 a month.

“We like the high-density projects,” he said of the four-story unit. “We expect them to be very high end, luxury units.”

Construction on the project will start by the end of the year, Schlager said, with the first units available in April 2014.

Along with multifamily housing, Springwoods Village will offer residents options in single-family housing.

Billy Sullivan, with Sullivan Brothers Builders, said his company’s development, Harper Woods, will showcase “very traditional” homes that range from 1,800 to 3,000 square feet. The project will include three-story town homes designed as work/live units.

“All the homes will have alley access and have large front porches,” he said. “We are very much trying to encourage the residents to interact with their neighbors.”

The homes will cost between $200,000 and $500,000.

Lastly, Taylor Morrison will construct 51 luxury homes in the Audubon Grove development. According to Teresa Shannon, with Taylor Morrison, the homes will be interactive and allow residents to control certain aspects of the homes from their mobile devices. The model home is expected to be complete in fall 2013.

“We are tailoring our designs just for Springwoods Village,” said Shannon, adding the floor plans and designs are still in the works.

The homes are expected to start around $400,000 and will range from 3,300 square feet to 5,500 square feet.

Other amenities

Simon said Springwoods Village will have three or four hotels, likely including a full-service hotel, select hotels and extended-stay hotels, near the community’s Town Center.

“We will be making those announcements early next year as to what brands those are,” he said. “We want to have several hotel offerings in Springwoods Village.”

Springwoods Village will include medical facilities, and Simon said his company has been in discussions with several of the leading health care providers in the Houston area.

“There are two we are working with on some initial facilities,” he said.

The first probably will be emergency facilities.

“It probably won’t start out as full-service facilities, but we hope it will evolve to that over time,” he said.

The community will have a grocery center, although Simon did not say what company would likely build.

A public safety facility is also planned for Springwoods Village to house law enforcement officers and fire services.

Additionally, Centerpoint Energy will construct a substation near the community and will provide buried power lines to ensure better-quality service, Simon said.

Build-out of Springwoods Village is expected to take about 15 years.

The ExxonMobil factor

In 2008, CDC Houston started discussions with ExxonMobil about its property just south of the Montgomery County line in Spring. According to Simon, ExxonMobil wanted to relocate its campus to the area.

“We talked with them about where they wanted to be located on our land and then created our mixed-used development around it,” Simon said. “By December 2008, we were able to close on the sale of that land.”

According to information from ExxonMobil, the company is consolidating its Houston offices at the new site. Initial occupancy is planned for early 2014 with full occupancy by 2015. An economic impact study shows the campus will create about 44,000 permanent jobs during its ongoing operations.

8 Tips for Holiday Shopping

Here are 8 tips to keep your holiday shopping season a little more jolly and a lot less jarring on the wallet.

1. Makin’ a list: One of the best ways to avoid overspending is to write down a list of everyone you want to give to, from your kids to your haircutter. Decide what you can comfortably spend for each person.

2. Embrace technology: A number of new tech tools make it easier than ever to snag holiday bargains.

Passbook is an iPhone application through which you gather all your gift cards, boarding passes, digital tickets, rewards cards and coupons on your smartphone. It’s a pop-up notification on your phone… If you walk into Sears or Old Navy, it’ll alert you that coupons are available.

Another bit of shopper tech, is Target’s mobile shopping tool for top-selling kids’ toys. In a Target store, you scan the toy’s QR code and it can be purchased and shipped via your mobile phone.

3. Credit, cash or debit? We all know that credit card spending can spiral out of control, which is why many experts recommend using cash or a debit card.

But the holidays can be different, says John Ulzheimer, consumer education president with SmartCredit.com. With identity thieves “working overtime” during the holidays, he said credit cards offer more ID theft protection, especially if you dispute fraudulent charges.

“If you have the self-control to not spend more than planned, credit cards are a safer option.”

4. Be card wise: “If you can’t afford to pay off your credit card in November, then you can’t afford to add a lot more to it in December,” says Bill Hardekopf, CEO of LowCards.com, a credit card comparison site. “If you must use a credit card to pay for Christmas, make sure you can pay it off by Easter.”

If you have more than one card, use the one with the highest limit, so holiday purchases don’t push you into debt ratios that can hurt your credit score.

5. Skip the store cards: Avoid those tempting store credit cards offered when you’re standing at the cash register. Their discounts — 10 percent to 20 percent off everything you’re buying — are enticing. But the cards often carry some of the worst terms out there, says Ulzheimer, with interest rates as high as 24.99 percent and low credit limits of $1,000 or less.

6. Shop thrifty: Be creative and check out local thrift shops that sell “gently used” goods to benefit various charities. It’s a very “green” way to pick up bargain gifts, many of which are new and unused, from sports equipment to fine china to appliances.

7. Gift card trading: Want to buy or sell your gift cards? Sites like Cardpool.com, GiftCardRescue.com or PlasticJungle.com let you sell unwanted gift cards for cash or buy other people’s cards at a discount. The gift cards are from hundreds of well-known brands: from Sears to Victoria’s Secret, from Macy’s to Home Depot.

8. Play it safe: One of the worst ways to lose money during the holidays is theft. When out shopping, follow these common-sense reminders:

Don’t carry more than one credit card, in case your wallet or purse is lost or stolen. Don’t leave packages, laptops or cellphones visible in your back or front seat; if you don’t have a trunk, bring a blanket to throw over valuables. Keep your purse tucked under an arm and strapped across your torso; stick your wallet in a front pocket. Don’t pull out a wad of cash at the register. Always be aware of your surroundings and park in well-lit areas.

Shopping Online? Use These Tips to Stay Safe

Shopping online can be easy and convenient, especially during the holiday season when stores are packed with shoppers and it’s harder to find what you want. However, scammers are always looking for ways to get your money or personal information, so it’s worth taking a few moments to learn how you can protect yourself when shopping online.

Consider these tips:

How to Avoid Scams
Minimize risks by shopping at well-established online stores with a good reputation. You can often learn a lot about the store by looking at comments and feedback from other shoppers.

Also, when shopping online:

• Use credit cards instead of debit cards. Credit cards offer better protection against unauthorized purchases, as you are typically only responsible for $50 worth of unauthorized purchases, if that. Debit cards generally don’t offer this level of protection.

• Calculate the total price of your purchase. Before clicking on “buy,” make sure the price includes shipping and handling, insurance, taxes and anything else that you expect from the purchase, such as discounts or coupons.

• Read the return policy. Returns are part of the experience of shopping online, and each store has its own return and exchange policy. Some might charge fees for restocking products or for resending merchandise. By reading the return policies you will know what to expect.

• Avoid shopping in stores outside the United States. This can help you avoid problems if you need to return or exchange items or resolve other disputes. Online retailers in the U.S. are subject to U.S. consumer laws and therefore offer protection to the buyer.

How to Protect Your Personal Information
Your personal information can be as valuable as money to a scammer. Scammers can use personal information like your credit card number or Social Security number to shop or steal your identity. To protect your personal information:

• Shop at secure sites. When paying, make sure the website address begins with https (the “s” at the end means it’s secure). It also means the website encrypts the information it sends.

• Be careful when sharing your personal information. Don’t provide your personal information in exchange for prizes or special offers. It might be a trick to get you to give away sensitive information. Also, avoid sharing your Social Security number and don’t send your personal information via e-mail. It’s not safe.

• Be careful when using public Wi-Fi networks. The safest public networks are those where you have to type in a password. Even so, you should always use secure sites (with the address beginning with https) when shopping online.

• Monitor your statements. Read your monthly statements to make sure there are no unauthorized purchases on your bank or credit cards. If you find unauthorized charges, contact your bank or financial institution as soon as possible.

Tips for Establishing a Credit History

Establishing a credit history is harder than it used to be — lenders are being extra cautious with new applicants. If you’re applying for credit for the first time, here are some tips from the National Foundation for Credit Counseling:

Start slowly. “Applying for too much credit at once can send the wrong signal to the lender, making it appear that you are desperate for credit,” said the NFCC. Also, too many applications for credit cards can hurt your credit score.

Co-signer. If you have been denied credit, see if a parent or other relative will come aboard as a co-signer. Just remember, if you don’t make payments on time, you can damage the co-signer’s credit as well as your own.

Three. “You’ll need at least three lines of credit, or else your file will be considered too thin for the all-important credit score to evaluate,” said the NFCC. But avoid using more than 30 percent of your available credit.

Variety. The credit score algorithm likes to see different kinds of accounts. So don’t apply just for credit cards — when appropriate, also obtain a closed-end account, such as a car loan.

Secured credit card. To get this kind of card, you put money in an account with an issuing bank and get a credit line for the same amount. “Handling this type of credit responsibly will likely lead to being offered an unsecured card,” said the NFCC.

Simplify Your Bathroom

Living with a small bathroom can be a daily nuisance. There’s only room for one person to realistically get ready at a time, there’s nowhere to put anything, and it makes your morning routine feel like playing a chess match. Fortunately there are plenty of ways to simplify your bathroom no matter what the size.

Think Up!

We often get discouraged when we look at a small space in terms of its length or width. You begin looking around the room trying to figure out where you could stuff one more basket or storage container. An easy solution to small bathroom storage is tower organizers and shelving that can be hung on the wall. By utilizing not just your floor space but also your walls and the backs of doors you can easily organize all of your supplies without fear of tripping and breaking your neck every morning.

Going Under

Even the smallest vanities can be transformed into an oasis for hair care products and other supplies. A simple under-vanity two drawer unit can completely change your storage possibilities. And as long as you’re storing items under the vanity don’t forget to use the interior of the cabinet doors. There are a number of over-the-door racks that can be utilized beneath a vanity to offer an easy hiding place for straighteners, blow dryers, curling irons and other supplies that would normally wreak havoc on the top of your vanity. This will offer a neater solution for storing these items that keeps them off of the vanity top and out of your way when they’re not in use.

With just a few storage units and the right supplies you can quickly and with relatively little expense enjoy a much neater and better organized bathroom.

Treating Pet Stains and Smells

If you have a cat or dog at home, you know pet smells and stains are just a fact of life. Before you reach for a product filled with unwanted chemicals to clean up after them, Do Your Part and consider a few safer options for your pet and your family.

One of the most effective and economical options is to use baking soda. Sprinkle the powder in litter boxes to prevent smells. For stains, a paste made with baking soda and water can be used on carpets and many fabrics to remove the evidence and to deodorize.

Club soda is another easy and economical carpet saver. Its bubbly action will help bring the stain up to the surface so you’ll be able to simply blot the residue away with a rag. Go further to neutralize the smell by sprinkling baking soda on the area after it dries. Simply vacuum after an hour or two.

Vinegar is another favorite when it comes to cleaning up from pets. White vinegar will help you not only kill bacteria; it will also deodorize the area. Spray it on, let it set for several minutes, and then scrub the spot until the stain releases. Lemon juice can also be used to neutralize offending odors.

Then there are some safer store-bought options. Clean and Green offers pet specific cleaning products that work wonders on tough spots including leather. They also have non-toxic fabric deodorizers that are good for places where your pets like to hang out.

If you need a large area rug or carpets cleaned, look for eco-friendly carpet cleaning companies. There are more green carpet cleaners now than ever. Ask specifically what process the company uses and what is in the solutions being applied to your carpets.

Experts recommend staying away from cleaners containing perchloroethylene or naphthalene. These are known carcinogens. Instead, use plant-based carpet cleaners, which are safer for people, pets and the planet.

Using unnecessary chemicals in our homes isn’t good for our families or our pets. So the next time you have to clean up after your four-legged friend, Do Your Part and make a healthier choice.

Hey! Can your mortgage lender really ask that?

Mortgage applicants expect to be asked to prove their income, verify their employment and provide permission for their tax returns to be reviewed, but these days, lenders frequently demand more and more answers to questions that may seem out of bounds to borrowers. Questions about exactly where every dollar comes from in your bank account may seem excessive, but lenders must document everything about an applicant's finances in order to prove to underwriters that the borrowers will repay the loan.

Questions You Should Expect From a Lender

Job History. Most lenders want to see a two-year history of employment and will need a contact where your job can be verified. In some cases, according to a recent article in MarketWatch, lenders can ask to see your diploma or college training order to verify that you were in school when you said you were.

Income. Typically, two recent paystubs are required, but some lenders will also require tax returns, particularly if you were self-employed. Discrepancies in income can trigger extra questions, especially if your income has declined for some reason such as a reduced bonus or commission. If you receive child support, Social Security or some other payments other than wages, you'll need to provide documentation that the income will continue.

Assets. Lenders want to know where your assets have come from in order to ensure that you are not borrowing money from someone for the down payment. Gift letters are required and must meet lender restrictions if you are getting help for your home purchase.

Debts. Your debts will show up on your credit report and will be calculated as part of your debt-to-income ratio. It's a good idea to review your credit history before applying for a mortgage because any disputed debts or debts that you believe have already been repaid will require proof and may need to be erased from your credit report before you can qualify for a loan.

Credit History. Your credit score is an important part of your loan application, but lenders will also look at your report to check for credit inquiries and past credit problems. If you have a number of recent credit inquiries, lenders may ask if you have taken out other loans or new credit cards that have yet to show up on your report.

Unexpected Lender Questions That Are Still Legal

Ethnicity. In order to avoid discrimination based on someone's ethnic background, the Department of Housing and Urban Development (HUD) actually requires lenders to ask about borrowers' race. HUD can then review lender records to make sure they aren't routinely turning down minorities or charging them higher fees.

Lawsuits. While it may seem as if a lawsuit (especially if you are the plaintiff) should not impact your home financing, lenders always require applicants to ask if they are involved in a lawsuit because of the potential cost and the possibility of a judgment that goes against the borrower.

Divorce. Lenders are particularly concerned about the financial details of a divorce because of the possibility that a borrower could be held responsible for an ex-spouse's debt. In addition, if you are trying to include child support or alimony as income on your loan application, a lender will need some hard proof that the income will continue.

Questions You Can't Be Asked

While it may seem that a lender can ask a borrower anything, there are two topics that are forbidden for lenders to investigate: family planning and health issues. According to HSH.com, under the Equal Credit Opportunity Act, lenders are not allowed to ask if you are planning a family. In the past, this question was used to discriminate against female borrowers because lenders assumed women would quit work when they became pregnant. You can, however, be asked about how many dependents you have and about your marital status, because that is information that can be used to qualify you as a first-time homebuyer and for special loan programs that have income limitations.

Under the Fair Housing Act and the Americans With Disabilities Act, lenders are prohibited from discriminating against borrowers who are ill or disabled, so they are not allowed to ask you any questions related to your physical condition.

The Bottom Line

Every borrower today needs to be prepared to answer almost anything a mortgage lender asks, but if you feel you are being asked inappropriate questions you should ask your lender some questions in return and perhaps find another lender.

6 Types of Moving Companies for Easy Relocation

Moving is stressful, especially packing and unpacking your belongings. When you have been staying at a place for even a few months, the amount of goods that you acquire take a long time to pack. 

Well, say goodbye to your stress and let a reliable moving company handle your relocation. But first, what kind of moving company do your require? Are you even aware of the types of moving services available? 

1. Local Moving Company – This Company takes care of all short distance moves within a state involving a trip that is less than 100 miles. As long as you do not cross the borders of your state, your move will be local. When you are hiring this service, ensure that the company is insured and licensed. Ask them about their charges. Local moving companies charge by the hour but you have to check with the State DOT for the legal rates.

2. Long Distance Moving Company – Long distance move need not be necessary inter-state move. It can also be intrastate but exceeding the distance of 100 miles. These companies will charge you according to the volume of your goods, their weight and the distance of the destination.

3. Self Moving Company – In this type of service, you will have to pack your goods yourself but the moving company will load it in the truck and deliver it. On reaching the destination, the shipment will be unloaded but you will have to unpack it. This kind of moving company charges lesser than the above companies, as you will be doing some of the work.

4. Auto Transport Moving Company – You may need the services of a moving company to transport your car. You can either drive it or use the services of an auto transporter.

5. Boxing Services – These moving companies provide packing materials so that you can pack your goods and belongings properly and prevent any damage.

6. Self Storage Company – Hire the services of a self-storage company to store those belongings that you do not need immediately. Or, if your new place of residence does not have enough space, you can store your goods with a self-storage company and move them later on when you have more space.

Apart from these, you also have International movers and corporate movers. Whenever you hire any type of moving company, ensure that they have the proper licensing and insurance. This is essential for the safety of your goods.