Brad & Jennifer Corekin

Keep Your A/C Strong For The Houston Summer!

Brad & Jennifer Corekin — Tue, 12 Jul 2011 02:37:00 GMT

Summer is here and it is HOT in Houston.

The summer can be the most challenging season for cooling systems. With Houston’s high temperatures, combined with our humidity, it is vital that we take the necessary precautions to make sure our A/C units are running well and efficiently!

Summer has just begun and yet many of our air conditioners are already working overtime to keep our homes cool. That extra work can wreak havoc on the many moving parts inside your air conditioning system – especially if they aren’t running at peak efficiency. So take the time to do some preventive maintenance. This can be the difference between enjoying cool comfort and sweating a costly service call.

Check and Change the Air Filters – This should be done at least once a month in the summer

Keep Outdoor Unit(s) Clean and Clear – Remove any plant growth, grass clippings, or debris caught in the coil walls. The coil can be cleaned using a soft-bristle brush to gently sweep the fins. Always brush in line with the fins, and be gentle because the fins can bend easily.

Check Drain for Clogs – Another important thing to check for is a clogged condensate drain. This is the drain that comes from the cooling coil drain opening on the furnace and runs to the floor drain. Clogs are usually caused by bacterial slime that grows in the water. With the A/C running, check where the line drains into the floor drain to see if water is draining. If no water is present, you most likely have a clog. If there is water visible on the furnace and/or pooling at its base, you definitely have a clog. Turn off the A/C right away to avoid water damaging any furnace components, and have a licensed mechanical contractor inspect and unclog the drain.

Now Is a Good Time to Buy a Home

Brad & Jennifer Corekin — Fri, 18 Jun 2010 18:13:00 GMT

Now Is a Good Time to Buy a Home

Today, with the real estate market slowing in many parts of the country, all the market fundamentals show that buyers are now in the driver's seat. Consider the facts: prices are competitive, interest rates are very affordable, there are plenty of homes in all price ranges to choose from and sellers are ready to bargain.

So why are many prospective home buyers having second thoughts?

It appears they are letting emotions overtake common sense. For instance, many home owners who are looking to sell and trade up to a better house are hesitating because they have seen the value of their current home drop from peak levels.

"If my neighbor sold his house for $250,000 six months ago, why should I have to settle for $225,000 today?" But waiting out the market to recoup a $25,000 "loss" could prove to be a poor decision.

While the value of the buyer's house may have fallen, that so-called loss has probably already been more than offset by a reduction in the price of the home he is thinking about buying. Furthermore, if he waits too long, he may lose out on the price advantage that currently exists.

First-time home buyers who are choosing to "play it safe" and keep renting are essentially postponing the opportunity to build household wealth. Also, in the current marketplace, with rental vacancy rates tightening, they can probably expect to see a healthy increase in the rent they pay. No one can accurately predict the peaks and valleys of the housing market. If you sit on the fence and wait for the absolute best deal, you could end up literally waiting for years, and in the meantime miss out on the opportunity to become a homeowner while prices are moderating.

Not to be overlooked are the tremendous tax benefits received by homeowners as they accumulate equity in their homes. History shows that buying a home is one of the very best financial investments available to a typical household, and a relatively small downpayment enables the buyer to see appreciation on the entire value of the property.

Though local housing markets periodically adjust according to overall economic conditions, over the long term real estate has consistently appreciated. On a national level, home appreciation has historically risen 5-6 percent annually. At that rate the value of a home doubles every 13 years. Not only is homeownership a stepping stone to a future of financial security, it provides a permanent place to call home and enormous personal satisfaction.

In today's housing market, the real risk is in waiting to buy a home. We know that interest rates are low today. We know that home prices are leveling off and even declining in some markets. We know that there are plenty of homes on the market to choose from. We know that sellers are willing to bargain. And we know that builders are willing to offer attractive incentives to get your business.

Spring TX Real Estate: Market Report January 2009

Brad & Jennifer Corekin — Fri, 13 Feb 2009 20:32:00 GMT

Spring TX Real Estate: Market Report January 2009

If you think you are seeing fewer “For Sale” signs, you are right. In comparison to a year ago, the Spring, TX Real Estate Market has seen a 30% drop in homes on the market and a 28% drop in new listings taken. Our real estate market now has the lowest level of single-family homes on the market since 2007.

Our months of inventory stands at 5.4 months which is almost a full month less than the 6.3 months of inventory in January 2008. In comparison to South Florida’s 28 months of inventory or Chicago Illinois’s 15 months of inventory, the Spring Texas real estate market has an extremely low level of inventory.

The battles currently taking place in the House and the Senate over the National Economic Stimulus Package will hopefully reduce the swelling housing inventory and depreciating home prices in cities throughout the U.S. But with only 5.4 months of inventory in Spring Texas, we do not need an economic stimulus package to reduce inventory levels.

Our real estate market will benefit from the national stimulus package because it will provide home buyers with an additional incentive beyond historically low interest rates to purchase a home. What we need now is the return of consumer confidence.

If you are thinking about selling your home, now is the time. Home buyers will be back out in force with the passing of the national economic stimulus package. Low inventory levels means less competition making it easier for your home to out shine the other homes on the market.

Five reasons to buy a home this year

Brad & Jennifer Corekin — Tue, 10 Feb 2009 18:13:00 GMT

Affordability returns to housing, and buyers have loads of negotiating power People are afraid to buy a home in times like these, with the economy tanking and home prices continuing to fall. But if you're brave enough to stray from the herd, you might be in for the home-buying opportunity of a lifetime. Ask for price reductions, improvements, closing costs -- whatever -- and the seller, desperately trying to get a contract, is very likely to work with you, said Jay Papasan, one of the authors...(read more)

Should I List My Home Now or Wait Until Spring?

Brad & Jennifer Corekin — Mon, 02 Feb 2009 17:48:00 GMT

Should I List My Home Now or Wait Until Spring?

I received a call yesterday from a consumer who said "Jennifer, I know it is not a great time to sell. Should I put my properties up now or wait until spring?" . What is interesting is that I have found myself answering this question frequently and I have been seeing the same question on Trulia Voices and Zillow discussions. So, I figured it made sense to write about it as it relates to the Houston real estate market.

The first part of the answer depends on a seller's personal goals. If a seller has no place to go or plans on purchasing in the future or there are other external factors that pushes their timeline out it might make sense to wait until those answers are figured out and there is less uncertainty. This is the case for any seller at any time of the year. For the seller that called me yesterday, she has several properties to sell, one of which is her primary occupancy, two that are investment properties. She already plans on renting a place temporarily if her property sells before she relocates to Florida. So what should she do? List now or wait until spring?

Well, to me the answer is obvious. List now !!! There are six main advantages for a seller to list now in February instead of waiting until spring:

1. Inventory - In the spring, how many other sellers will have ended up doing the same strategy? They may have been waiting a year or so until the market got better or perhaps just figured it was the best time to list their property. So come March, April and May, there will be that much more competition to potentially compete with! By listing now, you avoid all that potential competition.

2. Motivated Buyers- Often many buyers will just wait until spring to start their search as well. They will just be beginning the procoess. Believe me the buyers that are out house hunting during the first quarter of the year are serious and motivated. By listing now, you will potentially get one of these buyers to write a deal on your property!

3. Mortgage Rates - The mortgage rates right now are at 3 year lows ! The average 30 year mortgage is in the mid 5s ! This is actually causing an uptick in buyer traffic and activity. If you list now, you will catch this wave of increased buyers shopping for houses since mortgage rates are so low.

4. Buyers confidence - Further, buyer confidence is starting to shift which is also increasing buyer traffic. Another cause for increase traffic is for a buyer to take advantage of the $7,500 first time homebuyer tax credit which expires in the middle of 2009. A buyer has to settle on their property before that timeframe. By listing now, you are taking advantage of this trend of increased buyer traffic.

5. Accomplish your goals now - When it is all said and done, wouldn't you rather have your house sold by March and April and moving on with your life than potentially just listing your house at that point in time. I love it when we accomplish our goals ahead of schedule - it is a great feeling. By listing now, you are positioning yourself to accomplish your goals sooner than later.

6. Reverse Fear - Lastly, not to buy into the media's doom and gloom, but there is always risk that the housing markets could deteriorate more instead of picking up by the middle of 2009. In addition, the reality of the market getting that much better in a short period of time is remote. I doubt that just by waiting until spring, a sales price could be higher by 10 percent. In fact, it could even be a little worse if you think the economy is going to deteriorate as the unemployment rate continues to skyrocket. By listing now, you avoid that extra layer of uncertainty.

What is your opinion ?

As a consumer, will you list now or wait until spring? As an agent, what will your answer be when asked this question? Also what additional benefits are there to list now versus waiting until spring?