Sonya Sanchez's Blog

"There’s a misunderstanding that winter is quiet," Andrea Webb, an agent with Keller Williams in Montclair, N.J., told The Star-Ledger (New Jersey) in a recent article.

Real estate pros report that the weeks between now and the Super Bowl can be some of the most hectic in getting a head-start on what’s traditionally considered the busy spring buying season.

"Most good associates use the months of November and December as an opportunity to get organized for the coming spring market, which can arrive as early as January," Gary Large, president of the New Jersey Association of REALTORS®, told The Star-Ledger.

More real estate pros reportedly recommend to their sellers to host open houses during the cooler months because they’ll face less competition. Also, they say, more serious buyers often come out during the winter months, such as corporate clients who are needing to relocate within the first quarter of the year.

"We try to encourage the sellers to pretty much get their house on the market early in January to beat the rush, because most people tend to wait until the spring," Marilyn Bailey with Prudential New Jersey Properties in Morristown, N.J., told The Star-Ledger. "It’s a nice time of year to shop — not as many buyers are out there, so you’re not competing with other offers as much."

Real estate pros are also using the winter months to focus on networking (such as through holiday parties that can create plenty of opportunities for meeting new clients or gaining referrals) and taking continuing-education classes to ramp up their skill sets before the spring buying season hits, agents report.

Source: “In a Down Housing Market, Real Estate Agents get a Head Start Now for a Busy Spring Season,” The Star-Ledger (New Jersey) (Dec. 25, 2011)

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Commissioners Court Amends Burn Ban - Harris County

DEC

M.S. Montgomery Fire Marshal

2318 Atascocita, Humble, TX 77396 281-436-8000 • 281-436-8025 (fax) www.hcfmo.net

PRESS RELEASE

HARRIS COUNTY TEXAS

DATE: December 20, 2011 / 1:00 p.m.

Commissioners Court Amends Burn Ban

On Tuesday December 20, Commissioners Court amended the county burn ban to remove all limitations on legal outdoor burning except large ceremonial fires and the burning of certain domestic waste at night.

Effective December 21, residents without regularly scheduled trash pick-up will be allowed to burn "domestic waste" during daylight hours. Small ceremonial or recreational fires are also allowed with Fire Marshal approval.

Regardless of type, outdoor burning must not create a nuisance or traffic hazard. "Any smoke or odor from a fire cannot be allowed to cause a nuisance to your neighbors," says Harris County Pollution Control Services Director Bob Allen. "Additionally, the smoke may not cross a road and cause a traffic hazard or interfere with normal road use."

"Lifting the burn ban does not automatically apply to fires or smoking in county parks," says Fire Marshal Mike Montgomery. "The final decision to allow cooking or fires in designated areas of a county park is up to each County Commissioner."

The Harris County Fire Marshal's Office reminds you that if you conduct an outside burn you must:

? Only burn domestic waste, tree limbs, grass clippings and leaves. No building materials, large brush piles, or other debris.

? Check the weather forecast—

DO NOT burn on "fire weather watch" or "red flag warning" days

? Stay with the fire at all times while it is burning.

? Burn only from sun-up to sun-down—no burning at night.

? Have water available to extinguish the fire.

? Consider your neighbors when burning.

? Be extremely careful.

Outdoor burning can be dangerous. On Sunday, a trash fire claimed the life of an elderly male in east Harris County. "This tragic death indicates why we recommend other means of disposal, such as trash collection or hauling refuse to an authorized waste disposal site," said Fire Marshal Mike Montgomery.

###

For more information, contact:

Tom Petty

Senior Inspector / K-9 Handler

Direct: 281-436-8034

e-mail: tom.petty@fmo.hctx.net
www.hcfmo.net

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Mortgage rates breaking records again!

DEC

'When you feel like giving up, remember why you held on for so long in the first place.' #quote

Mortgage rates breaking records again

Demand for purchase loans still off from last year

By Inman News
Inman News®

Mortgage rates surveyed by Freddie Mac hit new lows this week, but low rates alone may not be enough to spur homebuyer demand, a separate survey by the Mortgage Bankers Association suggests.

Freddie Mac's Primary Mortgage Market Survey showed rates on 30-year fixed-rate mortgages averaging 3.91 percent with an average 0.7 point for the week ending Dec. 22, down from 3.94 percent last week and 4.81 percent a year ago.

Rates on 15-year fixed-rate mortgages averaged 3.21 percent with an average 0.8 point, unchanged from last week's record low but down from 4.15 percent a year ago.

For five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans, rates averaged 2.85 percent with an average 0.6 point, down from 2.86 percent last week and 3.75 percent a year ago.

Rates on one-year Treasury-indexed ARM loans averaged 2.77 percent with an average 0.6 point, down from 2.81 percent last week and 3.4 percent a year ago.

Rates on 30-year fixed mortgages have been at or below 4 percent for the last eight weeks and are almost 0.9 percentage points below where they were at the beginning of the year, said Freddie Mac chief economist Frank Nothaft. That translates into $1,200 in annual savings for a homebuyer taking out a $200,000 mortgage.

Looking back a week, the Mortgage Bankers Association's Weekly Mortgage Applications Survey showed demand for purchase loans was down 7.5 percent during the week ending Dec. 16, and off 6.9 percent from a year ago.

"Remarkably low rates are not enough, as many homeowners continue to hold back due to lack of equity in their properties, poor credit and a weak job market," Michael Fratantoni, the MBA's vice president of research and economics, said in a statement.

Looking back a month, the National Association of REALTORS® said Wednesday that existing-home sales increased by 4 percent from October to November, to a seasonally adjusted annual rate of 4.42 million homes. That's a 12.2 percent increase from a year ago, when existing homes were selling at a pace of 3.94 million a year.

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What is Home?

DEC

What is Home?
A roof to keep out the rain.
Four walls to keep out the wind.
Floors to keep out the cold.
Yes, but home is more than that.
It is the laugh of a baby, the song of a mother, the strength of a father.
Warmth of living hearts, light from happy eyes, kindness, loyalty, comradeship.
Home is first school and first church for young ones, where they learn what is right, what is good and what is kind.
Where they go for comfort when they are hurt or sick.
Where joy is shared and sorrow eased.
Where fathers and mothers are respected and loved.
Where children are wanted.
Where the simplest food is good enough for kings because it is earned.
Where money is not so important as loving-kindness.
Where even the teakettle sings from happiness.
That is home.
God bless it.
Ernestine Schumann-Heink

...from our family to yours, we wish you

MERRY CHRISTMAS & HAPPY NEW YEAR!!!

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Americans Eager to Buy, Sellers Aren’t Happy?

DEC

Obstacles are the things we see when we take our eyes off our goals. -Zig Ziglar

Americans Eager to Buy, Sellers Aren’t Happy?

Daily Real Estate News Wednesday, December 21, 2011

Nearly 80 percent of home buyers say now is a great time to buy a home, but sellers say it’s not a great time to sell, according to a new study, “The Great Recession and Attitudes Toward Homebuying,” released this week by the Mortgage Bankers Association. In fact, homeselling sentiment has fallen to record lows.

As for home buyers, they certainly have plenty to be happy about -- housing prices have fallen and interest rates are at record lows, pushing affordability to record levels and allowing buyers to snag great deals on housing.

But sellers, on the other hand, are getting discouraged that they can’t find buyers for their homes at a desirable sales price as well as the large overhang of mortgages past due or in foreclosure, according to the report.

"In economic terms, as market values have fallen, potential sellers have not adjusted their price expectations downward fast enough to bring buyer and seller sentiment in line with one another," Gary Engelhardt, a professor at Syracuse University who authored the study, said in a statement.

Sellers still can’t accept that their home values have fallen and they are no longer able to get the prices from the past, according to the study.

Meanwhile, “despite high unemployment and slow economic growth, the bulk of American households believe that now is a good time to buy a home,” Engelhardt said. The strongest positive sentiments toward buying was found among young, educated, white, and Hispanic households, according to the study.

“The pattern of home-buying sentiment during the current recession looks very similar to that of past recessions,” Engelhardt notes. “Home buyer sentiment falls as the unemployment rate increases, and improves as job growth returns and housing becomes more affordable. What distinguishes the current recession, though, is the dramatic decline in home-selling sentiment. From 1992 through 2005, positive home-selling sentiment fluctuated between 40 and 60 percent. Since 2005, sentiment has dropped precipitously, to around 7 percent currently, even while home-buying sentiment remains high.”

Source: “The Great Recession and Attitudes Toward Homebuying,” Mortgage Bankers Association (December 2011)

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New-Home Construction Bounces Back, Soars 9.3%

DEC

“Owning a home is a keystone of wealth.. both financial affluence and emotional security”. –Suze Orman

New-Home Construction Bounces Back, Soars 9.3%

DAILY REAL ESTATE NEWS TUESDAY, DECEMBER 20, 2011

New-home construction and building permits — a future gauge of construction — surged last month, slowly helping to pull the new-home market out of one of its worst years for home building.

Builders broke ground on more homes in November, a 9.3 percent increase over October, reaching the highest level since April 2010, the Commerce Department reported Tuesday. Year-over-year, new-home starts were up 24.3 percent in November.

Home construction increased to a seasonally adjusted annual rate of 685,000 homes in November. However, while it’s an improvement, the rate is still below the 1.2 million home pace that economists consider healthy for the new-home sector.

November’s increase was mostly driven by construction of multi-family homes with at least two units, which soared 25.3 percent in November. Construction of single-family homes increased 2.3 percent for the month.

Building permits jumped 5.7 percent in November, the highest increase since March 2010, with the increase mostly driven by apartment construction permits.

Builders Feeling More Confident

Meanwhile, for the third consecutive month, builder confidence in the new-home market continued to edge up, according to the National Association of Home Builders/Wells Fargo Housing Market Index for December. The index is at its highest point since May 2010.

While the index reached 21 in December, it is still far below 50, a reading which indicates more builders view conditions as good rather than poor. The index hasn’t reached that point since the housing boom in April 2006.

“While builder confidence remains low, the consistent gains registered over the past several months are an indication that pockets of recovery are slowly starting to emerge in scattered housing markets," Bob Nielsen, chairman of the National Association of Home Builders, said in a statement. "However, the difficulties that both builders and buyers continue to experience in accessing credit for new homes are holding back potential sales even in areas where economic conditions are improving."

Source: “Apartment Construction Spurs 9.3% Jump in Housing Starts, But Level Remains Low,” Associated Press (Dec. 20, 2011); “U.S. Nov. Housing Starts +9.3% to 685K; Consensus +0.3%,” Dow Jones International News (Dec. 20, 2011); and National Association of Home Builders

Weighing an Offer: 3 Seller Tips

MAR

Giving is better than receiving because giving starts the receiving process. Jim Rohn

Weighing an Offer: 3 Seller Tips

Sellers can feel pressure when trying to decide whether to accept a buyer offer on their home. While real estate professionals can advise clients on whether to accept an offer, the final decision is up to the seller--and it can be an agonizing one.

In the current buyer’s market, buyers aren’t shy about making lowball offers to sellers either. So when should you accept or decline an offer?

Realty Times recently offered the following questions for sellers to consider.

1. Is the buyer pre-qualified/approved?You may not want to risk a deal falling through because the buyer wasn’t pre-qualified for a loan.

2. Do you need to move quickly?If you need to move quickly--due to a job relocation or to avoid foreclosure--you may need to accept an offer that is less than what you want.

3. Can you accept a loss?Be sure to take closing costs into consideration too as you weigh whether you can even afford to agree to the buyer's offer.

Realty Timesalso suggests sellers take into account how long their home has been on the market and the number of showings. Such considerations also can help sellers determine whether getting a better offer soon is realistic and would be worth the wait.

Source: “Should I Accept This Offer?” Realty Times (March 15, 2011)

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What Buyers Want in Homes Today

MAR

"There's always a way - if you're committed." - Tony Robbins"

What Buyers Want in Homes Today

Buyers have a long list of what they want when home shopping, but one of their biggest desires: A good deal.

"And no matter where a seller prices their property, they're looking to negotiate," says Patricia Szot, president of the MetroTex Association of REALTORS®.

But that’s not all they want. Bankrate.com recently asked real estate professionals to chime in on the top desires of their buyers when home shopping. Here are four things that made the list of top home buyer preferences:

1. Homes that are in good condition."There's not a lot of flexibility in that," says Ron Phipps, president of the National Association of REALTORS®. Many buyers now take the attitude: "I'd rather spend the money getting into the house" and not have to spend more money later, Phipps says. One of the major reasons is that "buyers have limited amounts of cash," he adds. "Even if they want to do a fixer-upper, they don't have the money to do it."

2. A bargain with incentives. Buyers are looking for a good deal, even when considering bank-owned properties, says Joan Pratt, real estate broker with RE/MAX Professionals in Castle Pines, Colo. "They want the short sales and the foreclosures and they want them to look like they're owner-occupied," she says. "They don't want to paint. They don't want to put carpet in. They don't want to clean."

And they aren’t only asking for a low price but they also want incentives to buy too. As such, sellers are offering everything from gift cards for new furniture to paint to financial assistance at closing.

3. Outdoor living areas. Homes with screen porches, outdoor kitchens, two-way fireplaces are becoming increasingly competitive in the marketplace as more buyers say they want more outdoor living space.

4. Open kitchens. "The wall between the kitchen and the family room is evaporating," Phipps says. "The kitchen is becoming part of the gathering space.” (See Buyers Want Cozy, Connected Kitchens)

Source: “9 Items Homebuyers Desire in 2011,”Bankrate.com (March 2011)

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Many Buyers Lack Credit Score Knowledge

MAR

"To succeed in business, to reach the top, an individual must know all it is possible to know about that business." - J. Paul Getty

Many Buyers Lack Credit Score Knowledge

Some consumers lack the knowledge about credit scores, and most importantly, how you can boost it to get better deals on home loans or other type of loans.

A survey of 1,000 consumers conducted by Opinion Research asked consumers 22 questions about credit scores. On average, consumers got 60 percent of the questions right, revealing several gaps in credit score knowledge.

"They did not understand the financial cost of a low score," says Stephen Brobeck, executive director of the Consumer Federation of America, an association of nonprofit consumer organizations. For example, a person with bad credit trying to take a $20,000, 60-month car loan, might have to pay about $5,000 or more in interest than someone with a good credit score, according to a survey by the Consumer Federation of America and VantageScore Solutions.

Many consumers also didn’t know how to boost credit scores. One common myth, for example, is that paying cash is the only way to build a good credit score. However, the amount of available credit you have isn’t what hurts your credit score and borrowers are usually better served at keeping two or three credit cards open. A credit score factors in the amount of debt you carry in relation to that available credit — and how well you pay your bills on time that matters more to lenders, the Detroit Free Post reports.

Credit scores have been dropping nationwide due to economic hardship. About a quarter of customers — nearly 43.4 million — had a credit score of 599 or below, which is considered poor risk, and likely won’t qualify them for loans. Or, they’ll have to pay dearly for mortgages or car loans, according to FICO.

Consumers are entitled to a free copy of their credit reports once a year from each of the three nationwide credit-reporting companies. Visitwww.annualcreditreport.com.

Source: “Knowledge Lacking on Credit Scores,” Detroit Free Press (March 10, 2011)

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Kady and Andrea: A Free Spring Break Concert - Kings Harbor, Kingwood

FEB

“If you go to work on your plan, your plan will go to work on you.” Jim Rohn

We are looking forward to seeing you on Friday, March 18th from 7-10pm at Kings Harbor. If you need directions or have questions, please call me 281-780-3797. See you there!

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