Posted by Chris Tesch on Sun, May 27, 2012
Stop by and see me at my new office right off Earl Rudder Freeway (Highway 6)! I moved effective May 25th and am proudly associated with the Bryan REMAX office, REMAX Select. Offering a refreshing glass of cold ice tea or cup of coffee anytime, always with a smile and Bryan and College Station Real Estate advice! Who knows, maybe you'll even find your new College Station home for sale!
I'm definately looking forward to a new office with our internet cafe for a pleasant chat, or even seeing some of my previous clients and friends for lunch!
I've stayed at the same phone number so 979-574-1084 is still relevent. Same, if not better, service, and beautiful new office with amenities my last office didn't offer.
The new address here is 161 N. Earl Rudder Freeway, in between Briarcrest exit and University. If coming from College Station exit Briarcrest off highway 6 and at Briarcrest double back around on the feeder. We will be on the right about the same area the University Drive exit is in.
Chris Tesch, RE/MAX Select, 161 N. Earl Rudder Freeway, Bryan, Texas 77802. Cell number 979-574-1084 and fax number 979-393-0344.
Posted by Chris Tesch on Fri, May 18, 2012
Buying homes and renting them are such distinctly separate aspects of College Stations real estate scene that we tend to pay attention only to the sector we are most involved with. We pretty much ignore the other. Renters and real estate investors watch trends in residential rentals, while homeowners and soon-to-be homeowners check on prices and activity in the local home market.
All of which means that it’s easy to overlook how trends in one sector have major impacts on the other. And any sort of residential construction activity – new building or remodeling – has a direct and positive impact on College Stations economy as a whole.
So here’s some good news: this year, rental construction is expected to reach its highest level since 2005. Somehow that may not seem like such a big deal, but despite the way it looks, 2005 is SEVEN years ago (time flies, doesn’t it?)! Those have been seven painful years for most of the construction folks we know, so the change comes as welcome news. It’s also possible that a turnaround could mean that other turnarounds in different areas of the economy may be in the wind.
The apartment experts at NMHC just published something that most of us already suspected. They found that nationally, apartment vacancy rates fell to a decade low of 4.9%. We have already written about how asking rents continue to rise (in March, up .5% from the previous month). The same experts noted that some empty-nesters seem to be increasingly likely to opt for the convenience of apartment living -- even those who could easily afford to buy.
It explains why more College Station investors are stepping up to order the building of new rental homes even as many older apartments and rental homes are being renovated. Add to that recent government moves to encourage lenders to become at least temporary landlords, and the result is real activity. Budgets have been tight for families in recent years, which may have caused them to decide to choose rental homes that were older, hence less expensive. If the economy continues to strengthen, these same families may later be able to afford to look at one of the new rental homes now under construction. It’s likely that many tenants would choose to live in a place that is a product of new construction, or in a complex that has been recently renovated.
All that increased building activity is another sign that the College Station housing market as a whole is waking up. In the longer range, since newer rentals generally cost more money, more would-be tenants will ultimately reconsider the prospect of owning a home – in turn increasing demand for first-time or entry level homes.
Wherever your family falls in the College Station real estate mix, don’t hesitate to call our office when you have a question about the buyer's market and what is available for you. We’re standing by!
Posted by Chris Tesch on Tue, May 15, 2012
There’s nothing like being able to bask in the warm glow of well-being a College Station homeowner gets after finishing a thorough spring cleaning. It's especially true when you realize how important the annual ritual can be in protecting your greatest asset: your College Station property.
That warm glow results from doing more than just cleaning your home's interior, though. It involves maintaining the property in the ways that will prevent having to take more costly steps later. There are three different tasks you can complete to get your home ready for the warm weather that's on the way. If you follow these basic tips, your home will be looking its best – and the resulting beauty will be more than skin deep.
One of the most overlooked areas for most College Station properties is its foundation. It is important to check your foundation for damage, and to patch and seal any cracks as soon as you discover them. The foundation is one of the first areas potential buyers (and their inspectors) examine when they get serious about writing an offer on a home. A sound foundation is essential for the obvious structural reasons -- and it can even have an impact on utility bills.
May is also prime time for cleaning out all of the gutters on your property. When gutters clog, you can end up with leaks inside walls. For the ladder-shy, the cost of a once-yearly gutter clearing service can be a prudent and cost-conscious choice (as anyone who's experienced the major costs that result from neglecting the gutters will tell you)!
Spring is also a great time to paint the outside of your home. A fresh paint job gives your College Station property the fresh look nothing else can. You don't have to be selling your property to appreciate the 'curb appeal' – the real difference a fresh coat gives to any house. That paint job will also be more than just attractive: it will also prevent premature aging of the whole exterior.
Whether your current plans are to sell, rent or stay put in your College Station property, you'll be rewarded by taking a day or two every spring to focus on these preventative care details. If you need a referral for a handyman or other maintenance service, I'm always happy to recommend some of our reliable College Station vendors. Call me!!!
Posted by Chris Tesch on Sun, May 06, 2012
For those who are just about ready to list their College Station or Bryan house for sale this Mayseveral simple yet cost-effective projects can be sure-fire buyer-pleasers. I am often asked to help my clients identify areas in their home that will benefit from improvements. I like to point to some simple changes that materially help a property’s ability to compete with any other house for sale in our area without breaking the bank.
Here are my three favorite inexpensive equity builders:
1. Painting walls in pale neutral colors. Freshly painted walls erase years of wear from any room. They send prospective buyers two subtle messages: First this is a home that has been well maintained and is in great shape! Secondly, here is a home where your family can create your own memories. Neutral tones are important, too. While you may personally prefer rich or bright colors, potential buyers likely won't. Beyond ensuring that rooms look as big, bright and airy as possible, you want potential buyers to picture spaces where their furnishings will fit in without redecorating. Pale beige or grey rooms work with furnishings of all colors, and wind up appealing to the greatest number of potential buyers. There are some newer nuetrals that aren't out of the spectrum but before you start with the roller please call your College Station real estate agent to find out if it's truly a good shade and if it is what we are seeing in many homes.
2. Clearing clutter. Clear kitchen and bathroom countertops, consign heavy furniture to storage, and stow the teens clutter neatly out of sight. The object is to emphasize the impression of adequate or abundant space. When buyers visit any house for sale, they are most drawn to those where it’s easy to picture all of their furniture fitting in easily – and that takes space.
3. Keeping your cool. You want buyers to be comfortable as they walk through your house for sale, and at the same time want to signal that heating and cooling are in great shape and are not going to be problematic. Have your heating and air conditioning systems serviced so that they are in efficient working order. In our hot summers always be willing to crank up the AC!
Whenever you list a house for sale, it's important that you put yourself in the buyers’ shoes. Ask what are the key factors you would look for, and be sure your home reflects the answers. For any and all other questions you might have about selling your local home, I’m here to help!
Posted by Chris Tesch on Tue, May 01, 2012
Does this month find you looking for a home to call your own? In College Stations current bargain-rich real estate market, you’ll find that you’re not alone! If it’s been a while since you last house-hunted (or if it’s your first time out), it’s important to go over some basics.
A real estate agent or broker who lists a property is usually working for the seller. Since it takes a buyer to make anything happen, there are also buyer’s agents. Although anyone is free to buy or sell on their own, there are good reasons why most buyers decide to enlist a buyer’s agent to represent their interests exclusively.
A Buyer’s Agent Protects You
Let’s say you stop by a weekend open house, and there it is -- your dream home! The listing agent is very nice and wants to help you to write up an offer to purchase through her. This is called a “dual agency,” and is not necessarily a great idea (some brokerages even forbid it). The problem is that the seller's agent rightly wants to get the highest price for the property because she represents the owner. If I were working with you as your buyer’s agent, my job would be to represent your interests, so an offer I wrote could look quite a bit better from your prospective. That’s why it is prudent to find a College Station real estate agent to represent you before even starting your search.
Loose Lips Sink Ships
Whenever you are house hunting, be careful of what you say to the seller's agent. Resist the temptation to discuss financial matters or to mention that you are in a rush to buy: either could damage your chances of getting the home you want on terms you want. Always bear in mind that the agent is working for the seller, not for you.
Consider Signing a Contract
As soon as you sign a contract with a local buyer’s agent or broker, you put a real estate professional to work for you. It is a legally binding agreement in writing that obligates the agent to work to get you the best deal possible. You may also sign an exclusive contract with your buyer’s agent, which gives the agent an extra assurance that his or her work is likely to accomplish what you both want -- a deal that puts you in your new home. Worth noting: except in extremely rare cases, you as a buyer should never have to pay a commission. If an agent asks you for a fee upfront, that’s your signal to run the other way! It’s part of the MLS listing agreement that fees and commissions belong on the seller's side.
Finding an experienced College Station buyer’s agent for your side – one you feel comfortable with, who listens to your needs and who offers expert suggestions and advice – will be well worth the time it takes. But it doesn’t even have to take much time: I’m right here!
Posted by Chris Tesch on Thu, Apr 26, 2012
This is usually the time of year when College Station and Bryan residents have gotten through tax season, heaved a sign of relief, and gone back to working on more important matters – like earning enough to make reducing taxes a goal worth pursuing.
This year, the latter part of April may be a little different. Because this is an election year, tax matters are already being widely debated, and changes that could affect everyone are more possible than usual. I am bringing these topics up for discussion with the firm caveat that your own planning (including College Station home buying decisions) should always be made after consultation with the financial experts you trust. Currently, federal and state rules carry tax benefits that can greatly reduce a homeowner’s tax liability. They are very unlikely to be eliminated, but you may want to keep your ear tuned whenever you hear these topics under discussion, because seemingly minor changes can have major impacts.
Mortgage Interest and Points
Many renters found that they were able to use the standard deduction tables to simplify their federal filings. Homeowners, on the other hand, were usually better off using itemized deductions because of the welcome mortgage interest deduction. Qualifying points paid to obtain a mortgage can also generally be deducted in the year they are paid.
IRA Penalties
Everyone with a standard Individual Retirement Account has heard about the penalties for withdrawing funds before retirement age. But currently there is an exception in some home buying situations. Generally, some IRA funds can be applied to home buying (or building) a first home without those tax penalties. The catch is that you can only withdraw up to $10,000 over your entire lifetime (not annually). Those with Roth IRAs may find additional tax advantages, too.
Real Estate Taxes
Qualifying Bryan and College Station property taxes can amount to sizeable deductions. If, in the home buying process, you reimbursed a seller for prepaid property taxes, that amount can qualify, too.
As in all financial planning, you should consult your accountant or other tax professional before making any important decisions. And whenever buying or selling a College Station property makes sense for your family, I’m standing by to answer all of your College Station real estate questions.
Posted by Chris Tesch on Mon, Apr 23, 2012
Interest rates are at historic lows. The economy is looking up and jobs are up within Bryan and College Station. We still, however, get the questions about whether it is wise to buy. Let's start with what the experts are saying.
With more than 1,000,000 members the National Association of Realtors® is the nation’s largest trade association. It’s no wonder that what it says carries a lot of weight. When a gargantuan outfit like NAR makes a prediction, its words may not always make headlines, but they do influence everyone whose job it is to forecast the future of the nation’s economic activity.
That’s why their most recent report dealing with pending home sales put smiles on many of those one million members’ faces.
“The spring home buying season looks bright,” according to Chief Economist Lawrence Yun. “If activity is sustained near present levels, existing-home sales will see their best performance in five years.”
Like all statistics, those he was describing can be looked at in more than one way. We know that some numbers are more reliable than others. This particular index is based on an unusually large sample: about 20% of all transactions for existing home sales. It’s a forward-looking indicator: in the past, it has signaled coming trends before they materialize. This index seldom produces a straight line of activity because of seasonal and monthly ups and downs, but this time a trend is evident that is “notably above the pattern from a year ago.”
Our Bryan and College Station home sales patterns are not invariably tied to national trends -- but they aren’t impervious to them, either. So we are pleased when our own impression that the spring market is looking up is borne out by the experts who deal in the broader picture. “Based on all of the factors in the current market,” Yun went on, he expects to see “sales rising 7 to 10 percent in 2012.”
Real estate is a famously local phenomenon, and although we keep an eye on the national and state markets, our real attention is always centered right here in Bryan and College Station . If you have questions about your own real estate outlook, call me anytime for a consultation focused on your neighborhood.
Posted by Chris Tesch on Fri, Mar 09, 2012
Preparing your home for sale BAH HUMBUG!!! That's what some of todays seller's think. It is vitally important for your College Station home to be prepared and staged correctly to sell quickly and get the best price.
Landscaping Counts: Very few improvements will give you dollar for dollar for your College Station home for sale in what you have spent. This, however, according to many studies, will. Your beds need to be weeded, mulched and have fresh blooming flowers to add color. Ensure that your yard looks good with water hoses neatly rolled up and grass neat and mowed. The front door needs to be freshly painted or stained and ensure that the doorbell works. Call me if you need the name of a good, reliable landscaper or painter.
Clean the house. Of course the house needs to be decluttered and have clean floors, made beds, and smell fresh. There are many things that people overlook that are vitally important. Light switches are areas that are forgotten about. Dirt clings to the on/off lettering and most people don't even realize it. Someone showing your home certainly will though! Make sure that baseboards have been cleaned, bookshelves dusted and toilets and sinks scrubbed. Yes, it's a lot of work but I can refer a realiable housekeeper to help. These tips help ensure that you are selling your College Station home for the most money.
When selling your College Station home please give me a call. I would be pleased to give you a complementary market analysis and interview for the job! 
Posted by Chris Tesch on Tue, Mar 22, 2011
Is buying a College Station duplex a good investment? I have that question quite frequently through the year. It can be an excellent investment. Especially considering what you get for your money and what's comparable in College Station Real Estate.
Let's take a look at what's sold throughout the year. In the last 12 months we have had 57 duplexes sold in College Station. These ranged from a simple duplex on Pine Ridge that was a 2 bedroom 1 bath on each side listed for $114,900 (especially low price as most will sell for around 140K) and sold for $113,000 after 156 days on the market. The top price returned on duplexes in the last year was at Oldenburg. These 2007 built 3 bedroom 3 bath College Station duplexes list for around $250K. In this case the property listed for $245K and sold for $242,015 after only 49 days on the market.
Consider what you will pay for College Station homes that are comparable in size. Inexpensive homes that are just over 1000 square feet typically sell for at least 100K. A 3 bedroom, 3 bath with around 1300 square feet will sell for at least 140K. With these purchases you get the benefit of the extra bedrooms without the attendant prices.
Available now are 36 College Station duplexes. Fourteen of these are primarily investment properties located on one street in College Station. Take those out and we have 22 properties active. These range from another Pine Ridge duplex listed at $109,977 since 5/18/10 to a new 3 bedroom 3 bath brand new duplex listed for $235K.
If you are looking for an affordable investment we currently have a rare 2 bedroom, 2 bath located on San Benito priced at $139,900. This duplex offers close shuttle routes and park and ride as well as being close to restaurants and other amenities. Call today for your private showing.
Posted by Chris Tesch on Mon, Mar 07, 2011
The new development, Lakeridge Townhomes of College Station, is in development just off 2818 currently. These 2,3 and 4 bedroom properties are spacious, ranging from 1127 square feet for their small 2 bedroom up to 1857 square feet for their large 4 bedroom and come with a host of amenities that many of our student properties don't offer.
Lakeridge is the 3rd development for Starfish Development. Waterwood Townhomes, developed in 2003 took four years to build out and offers 170 units. Currently the 4 bedrooms are going for the 160's and the 3 bedrooms are running in the low 150's. Still one of my favorite developments, this offers investors an excellent return and has a hot tub, pool and a sports court as well as a fountain out front. Currently 6 are on the market split evenly between 3 bedroom and 4 bedroom. Homeowners Association Dues run an affordable $120 per month and provide landscaping and lawn care as well as insurance on the exterior of the buildings.
River Oaks Townhomes, their second development, was only finished out in 2009. The floorplans are the same as Lakeridge with the 3 and 4 bedrooms being three stories tall. The ground floor is where the living room, dining room, kitchen and half bath are. You climb up one set of stairs for 2 of the bedrooms, each with their own private bath and continue up another flight of stairs for the other bedrooms. Since it was developed so recently there is only one property currently on the market. It is a 2/2.5 that is 1172 square feet and offered for 158K.
Lakeridge Townhomes are only townhomes by name, but are actually condos. Thankfully Starfish has had them FHA certified for easier financing for now. These College Station Luxury Townhomes are available for a tour with their beautifully staged models.