Tuesday, August 22, 2017

Why Do So Many People Who Sell Their Homes Themselves Decide Not To Do It Again?

Have you ever taken on a project that looked easy until you actually did the work? It seems selling your home without a real estate agent fits that description. Ten percent of homesellers in the U.S. were FSBOs (for sale by owner) in 2012, according to a National Association of REALTORS® survey. Approximately half of those selling on their own already knew the person buying their home. Of sellers who knew the buyer, only 23% said they would sell their next home without an agent, too. Less than half of the sellers who didn’t know the buyer plan to sell on their own in the future. The survey does not get into the reasons why, but I have a few theories: Figuring out the right price takes research and experience. Overpriced homes can remain on the market a long time, often selling for less than if they had been correctly priced in the first place. And underpricing? You don’t need an explanation why that’s a problem. Showing a home to every interested buyer is time-consuming. And you don’t want to show the home to people who can’t afford it or, worse, have criminal intentions. Real estate transactions are complex. You must negotiate stacks of legal documents and take care of details with many different service providers. Making a mistake in a home sale can lead to delays, unsuccessful transactions, and legal trouble. Many people find negotiating difficult and/or uncomfortable. If you’re thinking of selling your home without a Texas REALTOR®, make sure you understand what’s involved. You may decide you want to proceed. Or, you might decide that hiring a professional will save you time, reduce your stress, and help you avoid hassles.

Monday, August 21, 2017

12th Annual DHR “Fishing For Hope” Tournament

Doctors Hospital at Renaissance is pleased to announce its 12th Annual “Fishing for Hope” Tournament, which will be held Saturday, August 26, 2017 at Louie’s Backyard on South Padre Island, Texas. Now the largest non-profit fishing tournament on the Texas coast, “Fishing for Hope” is a family-friendly and fun event for people of all ages. This year’s tournament will feature a live concert, dinner, the legendary stars auction, and much more! All proceeds from “Fishing for Hope” will once again benefit the Hope Family Health Center. Hope Family Health Center (HFHC) is located in McAllen and is run by local volunteer physicians and staff, all of which provide their time and services without charge. HFHC provides free health services in an open and accepting atmosphere to all persons living in the Rio Grande Valley who are without access to health care or medical insurance. Through its partnership with Doctors Hospital at Renaissance, the Hope Family Health Center was able to provide medical and mental health services for over 9,202 unfunded patients in 2016. To learn more about the “Fishing for Hope” Tournament or to register your team, call (956) 362-3140 or click the link below REGISTRATION

Sunday, August 20, 2017

A Cautionary Tale for Sellers Who Don’t Disclose

My friends recently surprised me when they found a home they loved within days of beginning their home search. They live in a hot market, so they didn’t waste any time putting in an offer. This house has an addition my friends like, but their inspector pointed out some serious flaws with it that a structural engineer would need to address. Pushing further, my friends found out that the sellers knew about these problems and hadn’t disclosed them. At this point, my friends had potential recourse against the sellers. If a seller fails to make proper disclosures in a transaction, a buyer might be able to stop the transaction, or even sue the seller for damages. It’s serious stuff that the sellers could’ve avoided if they’d just disclosed the facts. You may be wondering what I mean when I say “disclose the facts.” As a seller, you’re legally obligated under the Texas Deceptive Trade Practices Act to disclose known material problems with your property to potential buyers, like structurally flawed additions. Additionally, for residential real property of not more than one dwelling unit, a seller is required to fill out a seller’s disclosure form, which your Texas REALTOR® can provide to you. Disclosure is an important step in your home-selling process that can save—or cost you—thousands of dollars. Make sure you talk to your Texas REALTOR® about this important legal obligation.

What Is an Exclusive Agency Listing?

Becoming exclusive with a real estate agent is similar to going steady—you make an agreement to stick with the same person. When you sign an agreement with one sole real estate agent to sell your house, your property is considered an exclusive agency listing. Your broker will have the right to sell the home for a specific, mutually agreed-upon amount of time and compensation. “The word 'exclusive' makes it seem limited, but it is actually the opposite,” says Ashlie Roberson, a real estate agent at TripleMint, a New York City brokerage. “Exclusives can get you more exposure, thus more possible offers." Exclusive agreements can say anything, and time and compensation are not set in stone. Many agents will ask for a six-month exclusive, but if you're in a seller’s market with low housing inventory, agents might be more willing to take a shorter exclusive. That said, there are two different primary types of exclusive listing agreements: the exclusive right-to-sell agreement and the exclusive agency agreement. Exclusive right-to-sell agreement By signing an exclusive right-to-sell agreement, a seller agrees to compensate the listing agent who finds a buyer, "regardless of whether the property is sold through the efforts of the listing broker, the seller, or anyone else," according to the National Association of Realtors®. The only exception to the seller having to pay commission? If an individual is named as an exemption in the listing agreement and if the house is sold to this person, the seller does not have to pay commission to the listing broker. For example, let's say the seller lists a niece as an exemption and this niece ends up buying the house, the seller is not obligated to pay the listing agent commission. “The exclusive right-to-sell was intended to provide compensation to the listing firm if ‘anyone’ produces a ready, willing, and able buyer,” says Nana Smith, a Fairfield County, CT, real estate agent. “This anyone could include the seller finding his own buyer for the property.” Exclusive agency agreement In this type of agreement, the seller agrees to pay the listing agent if the house is sold through the efforts of any real estate broker. However, if the home sells solely through the efforts of the seller, then the seller is not on the hook to pay commission to the listing broker. Should your home be an exclusive listing? At face value, signing any type of exclusive agreement might sound limiting to a seller. But agents will tell you that signing an exclusive can sometimes be akin to letting a racehorse run free. When agents know a listing is exclusively theirs, they will give it everything they've got to sell the property. That could mean syndicating the listing to the entire broker community, spending money on marketing, or hosting a wine-and-cheese broker open house. Before signing, read your exclusive agreement to make sure it has a cancellation or termination clause that lets you end the agreement if you take the property off the market or just aren’t satisfied with the job your agent is doing. Some agreements require the seller to pay a “buy-out” fee or compensate the broker for out-of-pocket marketing expenses. Bottom line: Make sure you understand the exclusive contract you sign, and don’t sign an agreement that doesn’t suit your needs.

Thursday, June 22, 2017

1390 Harbor Island Port Isabel, TX 78578

1390 Harbor Island Dr. is a beautiful, one of a kind home located on a large, double lot in The Fingers of Port Isabel. This fishing paradise has 4 boat slips and is located on the channel with views of the Bay and South Padre Island. It even has a pool, which is a rare find in the fingers. Click HERE for more information

Tuesday, June 20, 2017

Coastal Nature Camp

Come learn about the birds, fish and plants of South Padre Island with crafts, games, prizes and classroom time. Ages 7 to 12. Space is limited. Call to make your reservation today! Camp dates are from June 26-29 from 9 AM to 1 PM.