Bryan College Station Real Estate with Bill Fallwell

First Impressions From Monkey Grass

Bryan College Station Real Estate — Mon, 15 Mar 2010 16:45:10 +0000

First Impressions are everything. From a buyer’s perspective, first impressions will stay embedded in their memory until the final selection of a home is made. What makes a good first impression when a potential buyer drives up to your home? The care you put into your landscape and lawns and then of course the condition of the exterior of the residence. In discussing and narrowing their selections, they will identify your house as, “the one with the manicured lawns, or the one with all the flowers by the front door; And 9 times out of 10 if the homeowner has a meticulous lawn and garden, the same will hold true for the interior of the home.

Let me introduce myself, I am Bill Fallwell, realtor since 1992, but prior to that life, I owned a lawn maintenance and landscape company for over 20 years; not to mention a BS degree from Texas A & M in Floriculture/Horticulture class of 1976.

Liniope ("Monkey Grass") Picture 1 - Click for a bigger picture

In the following weeks, I want to address different aspects of the landscape that will make a WOW impression to whoever is coming to your house, whether it is a friend, relative, neighbor or a potential buyer. Most of what I recommend will cost little money, mostly your time and labor, but the return will be a quick sale for top dollar.

If you have big blue liriope, or more commonly called monkey grass, its past time to give it it’s “winter haircut” because with the warm weather we are experiencing in Bryan-College Station, new tender vegetation will be appearing shortly. To trim the liriope, there are a couple of ways.

If you have just a few plants, I would recommend trimming with a set of sharp hedge trimmers. Don’t trim to the ground level, but instead trim and leave several inches into a mound.(see picture 1) This way, there will be no jagged edges on the leaf blades and the crown of the plant will stay intact.

However, if you have mass plantings of liriope as my landscape, the above method would be too labor intensive so I resort to a gas string trimmer, but being cautious not to take the plant down to the soil level. This method will leave some jagged edges, but when the new growth sprouts, no one will even notice. Afterward, rake and compost the clippings. (see picture 2)

Liniope ("Monkey Grass") Picture 2 - Click for a bigger picture

I generally apply a light application of all purpose granular fertilizer afterwards to the planting beds . I trimmed our liriope about 3 weeks ago and have notice new spring growth starting to pop out. This is one of my favorite plants as it has hardly any disease or pest problems, likes the shade and it multiplies, it great to use as a border or in mass planting and it has bright blue flower spikes. I will add pictures to the site as it sprouts with its bright green foliage.

Newt week: Lawns

February 2010 Bryan College Station Residential Closings Numbers

Bryan College Station Real Estate — Wed, 10 Mar 2010 15:55:44 +0000

2010 MLS RESIDENTIAL DATA SURVEY

Real Estate Center
Texas A&M University
College Station, Texas

Sales Closed 107
Average sales price $183,979
Sold dollar volume $19,685,773
Average days on market (DOM) 114

Total number of active residential listings 1439
Total number of new listings 441 Pending Listings: 146

Residential

Sales Closed this Month Total Active Listings

Price Class	Single Family A.	Condo Townhse B.	Total Sold (A+B)	Single Family C.	Condo Townhse D.	Total Active (C+D)
$1 – $29,999	2	0	2	5	0	5
$30,000 – $39,999	1	0	1	9	0	9
$40,000 – $49,999	3	0	3	12	6	18
$50,000 – $59,999	3	1	4	15	4	19
$60,000 – $69,999	1	1	2	21	6	27
$70,000-$79,999	2	3	5	32	11	43
$80,000 – $89,999	2	0	2	33	9	42
$90,000 – $99,999	0	0	0	41	5	46
$100,000 – $119,999	9	0	9	70	18	88
$120,000 – $139,999	9	1	10	108	50	158
$140,000 – $159,999	10	1	11	158	57	215
$160,000 – $179,999	17	0	17	150	20	170
$180,000 – $199,999	12	1	13	86	15	101
$200,000 – $249,999	10	1	11	164	8	172
$250,000 – $299,999	4	0	4	78	5	83
$300,000 – $399,999	7	0	7	102	2	104
$400,000 – $499,999	4	0	4	46	5	51
$500,000 or more	2	0	2	86	2	88

January 2010 Bryan College Station Residential Closings Numbers

Bryan College Station Real Estate — Tue, 09 Feb 2010 20:14:48 +0000

2010 MLS RESIDENTIAL DATA SURVEY

Real Estate Center
Texas A&M University
College Station, Texas

Sales Closed 89
Average sales price $170,237
Sold dollar volume $15,151,050
Average days on market (DOM) 126

Total number of active residential listings 1298

Total number of new listings 344 Pending Listings: 97

Residential

Sales Closed this Month Total Active Listings

Price Class	Single Family A.	Condo Townhse B.	Total Sold (A+B)	Single Family C.	Condo Townhse D.	Total Active (C+D)
$1 – $29,999	0	0	0	6	14	20
$30,000 – $39,999	2	0	2	6	0	6
$40,000 – $49,999	1	2	3	18	6	24
$50,000 – $59,999	2	0	2	17	2	19
$60,000 – $69,999	1	3	4	17	6	23
$70,000-$79,999	0	2	2	29	9	38
$80,000 – $89,999	4	0	4	26	3	29
$90,000 – $99,999	1	0	1	31	7	38
$100,000 – $119,999	6	2	8	68	12	80
$120,000 – $139,999	9	0	9	82	36	118
$140,000 – $159,999	13	3	16	150	38	188
$160,000 – $179,999	11	0	11	141	16	157
$180,000 – $199,999	2	0	2	85	16	101
$200,000 – $249,999	12	0	12	155	8	163
$250,000 – $299,999	5	0	5	64	2	66
$300,000 – $399,999	5	0	5	93	2	95
$400,000 – $499,999	1	0	1	43	5	48
$500,000 or more	2	0	2	83	2	85

Note: Residential data includes single-family, townhouses and condominiums.

December 2009 Bryan College Station Residential Closings Numbers

Bryan College Station Real Estate — Thu, 21 Jan 2010 18:02:39 +0000

2010 MLS RESIDENTIAL DATA SURVEY

Real Estate Center
Texas A&M University
College Station, Texas

Residential

Sales Closed 133
Average sales price $176,831
Sold dollar volume $23,518,518
Average days on market (DOM) 125
Total number of active residential listings 1114
Total number of new listings 179

	Sales Closed this Month			Total Active Listings
Price Class	Single Family A.	Condo Townhse B.	Total Sold (A+B)	Single Family C.	Condo Townhse D.	Total Active (C+D)
$1 – $29,999	2	0	2	5	14	19
$30,000 – $39,999	0	0	0	6	1	7
$40,000 – $49,999	3	0	3	13	6	19
$50,000 – $59,999	6	2	8	12	2	14
$60,000 – $69,999	2	0	2	17	4	21
$70,000-$79,999	1	2	3	27	10	37
$80,000 – $89,999	4	1	5	24	3	27
$90,000 – $99,999	7	0	7	29	5	34
$100,000 – $119,999	6	0	6	47	9	56
$120,000 – $139,999	14	1	15	69	30	99
$140,000 – $159,999	16	2	18	136	33	169
$160,000 – $179,999	14	0	14	117	13	130
$180,000 – $199,999	6	0	6	72	9	81
$200,000 – $249,999	19	1	20	121	8	129
$250,000 – $299,999	7	0	7	60	2	62
$300,000 – $399,999	11	1	12	88	1	89
$400,000 – $499,999	4	0	4	42	5	47
$500,000 or more	1	0	1	72	2	74

Note: Residential data includes single-family, townhouses and condominiums.

Credit Score Myths

Bryan College Station Real Estate — Mon, 18 Jan 2010 23:02:46 +0000

Eileen Ambrose of The Baltimore Sun has some good advice on credit scores. She may not be in Bryan, Texas, but in Real Estate everywhere, things are not always be what they seem…

I often have new home buyers express concern about their credit scores and share what they think will be good, bad and ugly. Reviewing this article should be helpful to you and perhaps ease some anxiety if you are looking at purchasing a home for the first time.

Contingencies in a Purchase Offer

Bryan College Station Real Estate — Fri, 08 Jan 2010 17:07:43 +0000

In most purchase transactions there may be a slight challenge or two, but most things will go quite smoothly. However, you want to anticipate potential problems so that if something does go wrong, you can cancel the contract without penalty. These are called “contingencies” and you must be sure to include them when you offer to buy a home.

For example, some “move-up” buyers often agree to purchase a home before selling their previous home. Even if the home is already sold, it is probably a “pending sale” and has not closed. Therefore, you should make closing your own sale a condition of your offer. If you do not include this as a contingency, you may find yourself making two mortgage payments instead of one.

There are other common contingencies you should include in your offer. Since you probably need a mortgage to buy the home, a condition of your offer should be that you successfully obtain suitable financing. Another condition should be that the property appraises for at least what you agreed to pay for it. During the escrow period you are likely to require certain inspections, and another contingency should be that it passes those inspections.

Basically, contingencies protect you in case you cannot perform or choose not to perform on a promise to buy a home. If you cancel a contract without having built-in conditions and contingencies, you could find yourself forfeiting your earnest money deposit or worse.

Earnest Money Deposit

Bryan College Station Real Estate — Fri, 08 Jan 2010 13:07:14 +0000

After you have come up with an offer price, the next step is to determine how large a deposit you want to make with your offer. You want the “earnest money deposit” to be large enough to show the seller you are serious, but not so large you are placing significant funds at risk.

One recommendation is to make sure your deposit is less than two percent of your offered price. The reason for this is that if your deposit is larger than that, the lender will pay particular attention to how you came up with the funds. You might have to provide a copy of a canceled check along with a bank statement showing you had the money to begin with. Normally, this is not a problem, but if you have a short escrow period or are barely coming up with your down payment, it could pose an inconvenience.

Another reason to limit your deposit is “just in case.” Although significant problems are the exception and not the rule, they do occur. “Just in case” there is a nasty or prolonged dispute between you and the seller, the less money you have tied up in a deposit, the fewer funds you have placed at risk.

As with practically everything in real estate, there are exceptions to this rule, too. During a hot market there may be multiple offers on the property that interests you. A large deposit may impress a seller enough so they will accept your offer instead of someone else’s, even when your unknown competitor is offering the same price or slightly higher.

Since large deposits do impress sellers, you may also find that by making a large deposit you can convince the seller to accept a lower offer. More money up front may save you money later.

here are also times when closing can be delayed by weeks, through no fault of your own. Have back-up plans prepared for such a contingency.

The Closing Date

Bryan College Station Real Estate — Fri, 08 Jan 2010 09:06:51 +0000

It is absolutely essential that you include a closing date as part of your offer. This way both you and the seller can make plans for moving, and the seller can make plans for buying his or her next home. Though most transactions actually do close on the right date, do not be so inflexible that a delay creates insurmountable problems.

For example, if you are renting and need to give the landlord notice that you are moving out, you may want to allow a little flexibility. Otherwise, if your purchase closes a few days late you could find yourself staying in a motel with your belongings packed in a moving van somewhere while you pay storage costs.

There are also times when closing can be delayed by weeks, through no fault of your own. Have back-up plans prepared for such a contingency.

Transfer of Possession

Bryan College Station Real Estate — Fri, 08 Jan 2010 05:06:31 +0000

A transaction is considered “closed” once the deeds have been recorded. Then you own the home. However, it is not always possible for you to occupy it immediately. This can happen for several reasons, but the most common is that the seller may be purchasing a home, too. Usually, it is scheduled to close simultaneously with your purchase of their home.

It is sort of like being at a red light when it turns green. Although all the cars see the light change at the same time, the guy at the back of the line doesn’t begin moving until all the cars ahead of him have started.

As a result, it has become customary to allow the seller up to a maximum of three days to turn over actual possession and keys to the home. When transfer of possession actually occurs should be clearly laid out in your offer to prevent confusion later.

Disclosures From The Seller

Bryan College Station Real Estate — Fri, 08 Jan 2010 01:06:09 +0000

Although you have toured the property, looked at the walls and ceiling, turned on the faucets and played with the light switches, you have not lived in it. The seller has years of knowledge about his or her home and there may be some things you want to find out about as quickly as possible. For this reason, you will require certain disclosures as part of your offer.

Basically, you want the seller to disclose any adverse conditions that may have a substantial impact on your decision to purchase the home. This would include any problems with the house, whether the property is in a flood zone, a noise zone, or any other kind of hazardous area.

If you have an agent representing you, this is almost automatic, but many states do not require individuals selling their own home to provide you with this information. Often they do not require banks selling foreclosed property to provide these disclosures, either. Obtaining these types of disclosures should always be a part of your offer, and time is of the essence.