All posts by Stacy Burgin

Stacy Burgin is a well-respected and requested real estate agent, well-known for her integrity and total dedication to her clients. She has represented both sides of a transaction and she is comfortable dealing with her clients, whether they are the buyer or the seller of a property. She has the knowledge to understand the nuances of each real estate transaction and the personality to make each client feel as though they are the most important client she has. She is very professional and honest and her business acumen is exceptional. • Stacy has been in sales for over 18 years. During that time she has an extraordinary number of closings, both for the rental market and the selling/buying side of the business. One of her main strengths is that she does an excellent job of maintaining the lines of communication so that the client always knows where they stand and what the strategy is for each property. She has an excellent knowledge of all areas of the city and can work and list any property in the Houston and surrounding areas. She will go to where her clients want her to go, and she has represented clients in every single area of the city, from Clear Lake to Spring to Fulshear and Humble.

Homes For Sale In The Fulshear, Simonton, South Brookshire Area

Homes For Sale In The Fulshear, Simonton, South Brookshire Area

Stay Informed about real estate activities with our analysis of homes for sale in the Fulshear Area.  Get a market overview instantly without the worry of being contacted.  No signup needed.

 

See how the number of days a home is actively on the market. 

 Know if home prices are going up or being reducing.

Get the average cost per square foot.

Know your competition before you make any decisions.

Get the average list price for the area.

 

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Stacy Burgin Homes For Sale In the Fulshear Area

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Make sure to get your new home inspection by a licensed home inspector

Inspection For Your Home And When Is It Done

A home inspector job is to look over the home from top to bottom. The buyer has the choice of whether to have an inspection completed or not, but it’s always highly recommended. The home inspector will provide a written statement with results to the buyer. The home inspection process should always take place before the end of the option period. Therefore, if the inspection report shows the house in a different light, you can walk away without losing the earnest money.   

Homes For Sale In Katy

What To Expect During A Home Inspection:

  1. A home inspector will look at interior plumbing, HVAC system, and electrical systems. They will inspect the roof, windows and doors, floors, attic, basement, and structural components.
  2. A home inspection takes typically two to four hours but may take longer depending on the home size.
  3. We advise buyers to attend the home inspection so you can see in detail your new home and ask the inspector any questions. Buyers will get more informative information than just reading a report.

Home Inspection Checklist: 

According to the American Society of Home Inspectors’ (ASHI), the inspector will review the following.

  1. Roof
  2. Attic, including visible insulation
  3. Walls
  4. Heating system
  5. Central air conditioning system (temperature permitting)
  6. Interior plumbing and electrical system
  7. Floors
  8. Ceilings
  9. Windows and doors
  10. Foundation
  11. Basement
  12. Structural components

Paying for an expert 

The buyer normally pays for a house inspection. However, you can negotiate the seller pays for the home inspection.

At times, sellers get a home inspection before they list their home for sale. The seller’s inspection report can provide the owner with an opportunity to fix or replace the issue before the home ever hits the market for sale.

However, we recommend that our buyers obtain their report after we have an excepted contract. We believe in always having an arm-length transaction, having an expert that does not have any ties with the seller or seller’s agent.   

Why Sell With Terra Point Realty

How much is a home inspection  

HomeAdvisor has the national average cost for a home inspection right around $336. In the Greater Houston Area, like Fulshear, Texas, the price comes in about $278 to $399. Low-end start around $200 to the high end of $500. The actual cost also depends on where the home is, as well as the home’s size. Some home inspections have a fixed price for homes up to 2000 square feet and will add $25 for every 500 square feet.

Remember, the cheapest isn’t always the best. Even though Texas requires a license to be a home inspector, ensure the inspector is sufficiently qualified and has the experience. Picking an ASHI member may add some reassurance on who to pick. Your ASHI home inspector holds themselves to a standard of being competent and ethical.  

 

Homes for sale in Fulshear

 

Can there be other types of inspection costs

Buyers are sometimes advised in the inspection report to have other types of home inspections done. There may be a need to obtain other specialty reports concerning the possible presence of:

  • Mold
  • Lead Piping or Paint
  • Termites
  • Asbestos
  • Radon

Asbestos and lead were commonly used in constructing older homes. These construction materials are not legal for use in newer homes. Sometimes buyers will require the inspector to check the sewer pipes with a camera.  

How long does a home inspection take

In the Greater Houston Texas area, the home inspection varies, depending on several factors:

  1. Number of defects
  2. The size of the house
  3. How the homeowner has prepared the home for inspection
  4. The attention to detail of the inspector

Expect two to four hours for your home inspection unless there are unusual circumstances.

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What Does An Option Period Mean?

Option Pending

What Does An Option Period Mean?

The option period is the specified number of days when the buyer has the right to have the property inspected. It’s the buyer’s unrestricted right to terminate the contract for any reason. The option period can be bought for a fee known as the option fee.

How long is the Option Period?

It’s negotiated between the buyer and seller. Typically, the option period is 7-10 calendar days.

How do you count the Option Period?

Paragraph 23, the Termination Option Paragraph uses the word within when describing the period, Day One of the option period is the day after the contract’s effective date. For example, if your client’s effective date is January 22 with a 10-day option period, the option period will end on February 1.  

What Time Does The Option Period End? 

The Texas Real Estate Commission (‘TREC”) clarified that a buyer must give notice to the seller by 5:00 p.m. (local time from where the property’s location) by the date specified Paragraph 23. 

How much is Option Fee?

It’s negotiated between the buyer and seller. Typically, it depends on how many days the buyer will need for property inspections.

Is Option Fee refundable?

Option Fee(s) is paid directly to the seller and is only refundable at closing if agreed. In the 1-4 Contract, “The Option Fee ___ Will ___ will not be credited to the sales price at closing.”

Can The Buyer Lose The Right To Back Out During The Option Period?

All option fee(s) MUST be delivered to the seller within three (3) days after the contract’s effective date, or the buyer will lose the right to back out of the contract during the option period. For example, if your client’s effective date is March 1, the option fee must be delivered by 11:59 p.m. on March 4.

Can Option Money Be Delivered To Seller by Via Electronic Payment (i.e., Venmo, Paypal, Etc.)

Yes, only if the option payment is made unconditional and if you can provide proof. If you are out of town, this may be a good option. 

What If My Option Fee Was Left, Blank?

If the dollar amount is left blank, this paragraph will not be considered part of the contract. The buyer loses the ability to have the unrestricted right to cancel.

Can Option Fee Money Be Delivered To The Title Company? 

Option Fee Money delivered to the title company is a complicated question. Suppose the question is “can” I deliver the option money to the title company. In that case, the answer is “yes” — but that answer is not one without some liability for the buyer. The contract language does not provide for option money to be delivered to the title company. It requires delivery to the seller. Suppose a title company accepts option money from the buyer or agent. Then the title company sends it to the seller. This action may not complete the delivery of the option fee under the contract. 

Texas National Title put this scenario to the legal test, delivery of option to the title company is not “strict compliance” with the contract. This scenario could be creating liability for themselves. Both TREC and the Texas Association of Realtors have highlighted that buyer’s agents are expected to deliver the option money to the seller or seller’s agent. 

If you are considering giving option money to the title company. In this case, we suggest talking this over with your agent or broker before taking that action.  

What Could Happen If I Do Not Deliver The Option Fee Correctly? 

It is our opinion that if the option fee is not properly delivered as the terms of the contract state. Could wind up causing the buyer not having an option period under the contract. 

Disclaimer
**Terra Point Realty, LLC is not giving legal advice.  The views are strictly an opinion.  Please speak with an attorney for any legal advice.**

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Is For Sale By Owner A Good Idea or Not?

Does For Sale By Owner Really Save Money

ingatlantanácsadás 1Many people who are ready to sell their homes think that For Sale By Owner (FSBO) is the way to go. After all, you get to cut out the real estate commission, so technically you can sell the home yourself cheaper and keep all the profits.

Many do not realize the headaches and costs of selling by owner. Certainly, you cut out the commission, but usually, the realtor just adds this 5-6% to your asking price so that the buyer actually pays the commission.  According to NAR, “a typical FSBO home sells for $200,000, while a typical home sold by an agent sells for $280,000.”   That adds up to homes sold by agents getting an average of 28.6% more than FSBO sales. This number reflects the expert knowledge real estate agents bring to a sale.

Sale By Owner Advertising Cost

By selling yourself, you assume all the costs related to advertising. A simple sign in the front yard just will not get the job done. Whatever prospects you get are usually bargain hunters who see the sign and immediately think it is a distressed sale. Many of the prospects are not qualified and are merely lookers who also have a house to sell before buying yours.

Sale By Owner Home Showings

You also are the one to show your house to prospects. It is true that this way you can set your own time for viewing, but you may find that it really interferes with things that you really want to do.

Pricing Your Home For Sale

Another thing to consider is that unless you are well versed in housing values in your neighborhood, you may overprice or underprice your house. An overprice will result in your house is up for sale for an extended period of time. An under price may result in a fairly quick sale, but you will have lost money that was left on the table so to speak. You will have also devalued your neighbors’ properties, as real estate values are often set by comparable sales within a neighborhood.

Sale By Owner disclosures

If you do make a sale, you then have to worry about what information must be disclosed to keep you within the law. There are certain disclosures, such as a leaky roof, foundation settlement repairs made after storms, and others. Many of these will come out during an inspection of the house, but if not disclosed or discovered before closing you may leave yourself open to a lawsuit.

Using A Real Estate Agent

With a realtor, you do not have to worry about advertising costs, showing the house, or entering negotiations until the end. A realtor will be able to show and negotiate on your home without an emotional attachment. Your Agent will want to sell it for the best possible price, as this is the way he makes his living. He or she will do the best to get the figure that you are expecting to the net. Your agent will prequalify prospects, get them signed, and point them in the right direction for financing. He will see your sale all the way through closing. All of this is included in the commission that you did not want to pay. When you consider all of this, a realtor’s commission may well be worthwhile.

Bottom Line

Is For Sale By Owner really saving you any money and is it really worth the time you spend?  Our experts in real estate will be able to advise you from start to finish.  Your real estate agent will also know exactly what information needs to be divulged to keep you legal.  The statistics show selling by owner is like throwing away $63,200.00 after paying out commissions.  So in the end, is it worthwhile to post an FSBO sign in your yard? You may still want to if you enjoy the rigors of selling a home. But for most people, the sale of a home is better left to trained real estate professionals.

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Does Your Home Have What Buyers Are Looking For?

Does Your Home Have What Buyers Are Looking For?

20200716 KCM Share

There’s a great opportunity for today’s homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market. According to Javier Vivas, Director of Economic Research at realtor.com:

“Sellers continue returning to the market at a cautious pace and further improvement could be constrained by lingering coronavirus concerns, economic uncertainty, and civil unrest.”

For homeowners who need a little nudge of motivation to get back in the game, it’s good to know that buyers are ready to purchase this season. After spending several months at home and re-evaluating what they truly want and need in their space, buyers are ready and they’re in the market now. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR) explains:

“A number of potential buyers noted stalled plans due to the pandemic and that has led to more urgency and a pent-up demand to buy…After being home for months on end – in a home they already wanted to leave – buyers are reminded how much their current home may lack certain desired features or amenities.”

The latest Market Recovery Survey from NAR shares some of the features and amenities buyers are looking for, especially since the health crisis has shifted many buyer priorities. The most common home features cited as increasingly important are home offices and space to accommodate family members new to the residence (See graph below):20200716 MEM ENGThe survey results also show that among buyers who indicate they would now like to live in a different area due to COVID-19, 47% have an interest in purchasing in the suburbs, 39% cite rural areas, and 25% indicate a desire to be in small towns.

As we can see, buyers are eager to find a new home, but there’s a big challenge in the market: a lack of homes available to purchase. Danielle Hale, Chief Economist at realtor.com explains:

“The realtor.com June Housing Trends Report showed that buyers still outnumber sellers which is causing the gap in time on market to shrink, prices to grow at a faster pace than pre-COVID, and the number of homes available for sale to decrease by more than last month. These trends play out similarly in the most recent week’s data with the change in time on market being most notable. In the most recent week homes sat on the market just 7 days longer than last year whereas the rest of June saw homes sit 2 weeks or more longer than last year.”

In essence, home sales are picking up speed and buyers are purchasing them at a faster rate than they’re coming to the market. Hale continues to say:

“The housing market has plenty of buyers who would benefit from a few more sellers. If the virus can be contained and home prices continue to grow, this may help bring sellers back to the housing market.”

Bottom Line

If you’re considering selling and your current house has some of the features today’s buyers are looking for, let’s connect. You’ll likely be able to sell at the best price, in the least amount of time, and will be able to take advantage of the low interest rates available right now when buying your new home.

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Mortgage Rates Hit Record Lows for Three Consecutive Weeks

Mortgage Rates Hit Record Lows for Three Consecutive Weeks

20200715 KCM Share

Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below):20200715 MEM Eng 1

What does this mean for the buyers?

This is huge for homebuyers. Those currently taking advantage of the increasing affordability that comes with historically low-interest rates are winning big. According to Sam Khater, Chief Economist at Freddie Mac:

“The summer is heating up as record low mortgage rates continue to spur homebuyer demand.”

In addition, move.com notes:

“Summer home buying season is off to a roaring start. As buyers flooded into the market, realtor.com® monthly traffic hit an all-time high of 86 million unique users in June 2020. Breaking May’s record of 85 million unique users.  Realtor.com® daily traffic also hit its highest level ever of 7 million unique users on June 25.  Signaling that despite the global pandemic buyers are ready to make a purchase.”

Clearly, buyers are capitalizing on today’s low rates. As shown in the chart below, the average monthly mortgage payment decreases significantly when rates are as low as they are today.20200715 MEM Eng 2A lower monthly payment means savings that can add up significantly over the life of a home loan. It also means that qualified buyers may be able to purchase more home for their money. Maybe that’s a bigger home than what they’d be able to afford at a higher rate, an increasingly desirable option considering the amount of time families are now spending at home given today’s health crisis.

Bottom Line

If you’re in a position to buy a home this year, let’s connect to initiate the process while mortgage rates are historically low.

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25 Tips For Buying Your Dream Home in 2019 – Series

Tip 23 For Buying Your Dream Home in 2019

 

Pay for a Home Appraisalapproved

A home appraisal is a critical component of getting a mortgage. It provides the lender with the current market value of the property. The home’s maximum financial cost is the collateral for your loan, and it determines how much money a lender is willing to loan you. The lender often arranges for the appraisal, but in most cases, the buyer pays the bill.

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Tip 22 of 25 For Buying Your Dream Home in 2019 – Series

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Tip 22. Arrange for a Full Home Inspection

Tip 22, Once the sellers accept your offer, you should arrange for an inspection of the entire home. Don’t take anything for granted. Even if you flushed the toilet and ran the shower, a plumbing problem could still exist. The inspector can evaluate the property’s structure, utilities, and safety issues. The inspection report is going to list any visible problems that have been discovered, giving you the information you need to move forward with your home purchase.

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25 Tips For Buying Your Dream Home in 2019 – Series

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25 Tips For Buying Your Dream Home in 2019 – Series

 

tips for buying your dream home in 2019 – series continued…

20. Start Looking at Homes

Once you are ready to begin your search, let your agent know what your availability is. It is essential to look at as many homes as you can. Doing so allows you to avoid the regret that often follows when buyers purchase the first or second home that they see.

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Tip 19 For Buying Your Dream Home in 2019 – Series

Tip 19 For Buying Your Dream Home in 2019 – Series

 

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19. Figure Out the Type of Home You Want

It is important to let your real estate agent know if there are any styles of homes you don’t want to consider. For example, if you don’t want to live in a rancher, then you shouldn’t go to a showing for one. Figure out the different styles of construction that you are willing to consider and let your agent know.

You may also want to consider whether or not this is going to be a starter home or if it is going to be the forever home. If you are planning to live there for just a few years.  Then you can be more flexible with your choices.

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