Bryan/College Station, Texas Real Estate

Market Statistics

Let’s start with the question… What do YOU think about the Bryan College Station real estate market? I’d really like to know. Checkout the charts below.

We are beginning to see that the market may not be holding for our community. I know we all like to think we live in the BCS/TAMU Bubble but the rest of the world is pushing on our bubble.  Hopefully July was just a blip for the market but I don’t think so.  Thankfully Century 21 Beal is still actively selling and we are still ahead of last year’s business – I almost feel sorry for the other agents in town.

We see that sellers who really want/need to sell are listening to us, pricing the property to get it sold and they are selling. Other sellers are trying to “get what the house is worth” or “get what the comps show” or “get what they need”.   As much as I would like to say we have the power to control what buyers should pay – we don’t.  We don’t have any control over what buyers will pay and right now buyers are looking for “the deal” or “the perfect house”. There is so much to choose from – they can be choosy. 

Much to our dismay the number of properties sold in July 2010 versus July 2009 is down 38%  The inventory continues to climb and is at 1646 properties. This is 33% above this time last year. The only good thing we have seen is that the DOM (Days on Market) has decreased. My personal opinion on why this is happening is that real estate agents are taking listings out of MLS if they have been on the market a long time and then adding them back in. Then, when those listings sell the numbers are not real numbers. So, don’t get too excited over a decrease in Days on the Market it probably isn’t real.

Year to date the number of sales are only down about 1% over 2009 but remember YTD Jan – June we were up almost 9% until July’s production.

Since I have no crystal ball I can only provide you with my opinions and market statistics.  Below is what we know has happened.

• The Total Sales Volume in July 2010 was down 38% from July 2009 and down 50.3% from 2008.
• The Number of Homes Sold in July 2010 was down 37.8% from 2009 and down 47.7% from 2008.
• The Available Homes in July 2010 rose 33% from 2009 and was up 35% more than 2008.
• In July there were 189 residential properties sold
  • 119  single family
  • 21  condos
  • 7  manufactured homes with land
  • 8 patio/townhouse
  • 11 houses with acreage
  • 0 recreational
  • 17 new builder homes
  • 1  new builder homes with acreage
  • 5  new builder patio/townhomes

• Total sales were $30,773,396  (Was $61,873,310 in 2008)
• Buyers are in control.
• Inventory is high and sellers should try to work with every offer they receive.
• Buyers have many choices.
• Mortgages are available but nationwide more people have a credit score too low to get financing than last year.
• Interest rates are at historical lows but that is not causing more buyers to get into the market.
• CENTURY 21 Beal has the largest market share in Bryan College Station for properties that actually sell with 16.4% of the market so far this year and 16.9% in July 2010 alone!
• If you are ready to sell let’s get it done now!

Want to know more about what is going on in the Brazos Valley?  Checkout The Century Tree Reader. New posts, photos and community information is posted weekly if not daily!

Have you ever been driving around a neighborhood and wanted to know how much a house is selling for but you didn’t want to “bother” the agent or they weren’t there when you called? WE HAVE THE ANSWER!!!   Call 979-764-2121 and enter the street number and you can HEAR information about that house.

If you are reading this you must be interested in real estate. Think about taking that interest to the next step. Find out  what a career in real estate sales can offer you and your family. Yes a license is required and you will need to take classes to qualify to take the licensing  exam. All the courses can be taken online. Century21 International and Century 21 Beal offers the best success training in this area. Call  me at 979.764.2100 

Be sure to forward this email on to others you know and care about.

Share the knowledge that Bryan/College Station is NOT participating in a real estate recession!

And, we need your help – we need your referrals. CALL ME!

Susan Hilton

CENTURY 21 Beal, Inc.

http://susanhilton.com

404 H University Drive East w College Station, Tx 77840
Phone: 979-764-2100 w Fax:815-328-0575

• Clay Lee
• Farrah Spears
• Jeff Leatherwood
• Jennifer Jennings
• Judy Bradford
• Katherine Massey
• Linda Stribling
• Michelle Taylor
• Raylene Lewis
• Kristi Fox
• AND CENTURY 21 Beal, Inc.

Recognition for your sales achievement from Century 21 International is quite an honor. Century 21 Beal  Realtors continues to have a large number of agents that excel in both real estate sales in Bryan College Station and exceptional customer service.

Susan Hilton

CENTURY 21 Beal, Inc.

979-764-2100

Real Estate for Bryan College Station!

Call 979-764-2121 and hear information on ANY property for sale in the Brazos Valley.

I am here to help you with any real estate question you may have.  Here are a few definitions that I think may be helpful when thinking about buying a home.

• Adjustable-rate Mortgage (ARM) – A mortgage that does not have a fixed interest rate.  Based on market conditions, the rate can increase or decrease, affecting your payment.
• Private Mortgage Insurance (PMI) – This fee protects the lender against a loss if a borrower defaults on the loan and is added to the monthly mortgage payment.  PMI is usually required if the down payment is less than 20% of the purchase price.  VA, FHA, VA Guarenteed loans fall into this catagory.  Payments can be reduced sometimes by over $200 a month if you are able to put 20% down.
• Fixed-rate Loans – A mortgage that has a fixed interest rate throughout the life of the loan.  Repayment terms are generally 15, 20, or 30 years.  Payments stay the same unless refinancing is done.
• Escrow – Monies or documents held by a neutral third party before closing on a property.  It can also be an account held by the lender, usually set up to pay for taxes and insurance on their investment. 
• Loan Origination Fee – A fee charged be the lender for processing a loan.  All lenders charge different amounts so it is always best to shop around, they will compete for your business.
• Points – These fees are paid to the lender for the loan, usually in relation to the interest rate.  One point is equal to 1% of the principal amount of a mortgage loan.  You can “buy down” your interest rate to lower your monthly payment. 
• Lock-in - A written agreement setting a specific interest rate on a home loan.  The lock-in is typically good for a specific time, usually 60 to 90 days.
• Offer – When one person proposes a contract to another; if the other person accepts the offer, a binding contract is formed.

When buying a house in College Station you always need to make sure you are making the right decision when filling out a contract or offer on a house.  Buyer’s remorse is not something you want, I can make sure that doesn’t happen.

Call me with all your Real Estate Contract Questions!

Joey Condon, Realtor

Rock Solid Real Estate!

Be wary of the following:

1. Insuring a home for its real estate value rather than the cost of rebuilding.
2. Selecting an insurance compnay by price alone.
3. Dropping flood insurance if in an area wher it is not required by the lender, but ther is a chance of flooding.
4. For renters, neglecting to purchase renter’s insurance.

In most situations, Homeowner’s Insurance is not an option, it’s mandatory.  Most lenders require insurance to be provided by the owner, and if the owner fails to provide what the lender wants, they can provide coverage but at a premium price for the owner.  Please avoid that at all cost, insurance is expensive enough.

What you can do to lower your insurance premium.

• Policy discounts – check with your agentInstall additional smoke alarms and fire supression systems
• Make sure your agent services your policy annually – they may find deductions that wer not there previously
• Take a higher deductable out just like you would do for your auto insurance
• Have a security company service your house with an alarms systems and break-in notification

Homeowners in Bryan and College Station take a moment, analyse your insurance needs and make the changes where needed.A standard policy covers the structure of the house, your personal belongings (with certain limitations), liability to others, and living expenses in the event your house is unlivable.  Please contact your insurance agent and ask questions about what they offer, what discounts are out there that you may be able to take advantage of, and shop around!!!  Bryan and College Station have a wealth of great insurance agents ready and willing to provide you with any and all the information you need to make an educated decision.   Don’t take a chance on being under-insured or without insurance, the consequenses are enormous. 

I am here to help every homeowner with all their real estate needs.  Call me, I can help!!

Joey Condon, Realtor

Joey Condon

Dear Joey,

I apologize for taking so long in getting to what to me is a priority, and that is to thank you for your assistance and professionalism in helping my wife, Silvia, and I find and purchase a home in Bryan, Texas.

The first person that I contacted simply frustrated me with his delays, expectations, and finally demands. You on the other hand accepted my desire to find someone who would not waste my time, and help us to find our home, not a home you simply desired to sell us. In retrospect it seems like it happened quickly however I am sure it was frustrating, and yet you handled each viewing, showing, offer, etc. as a true professional.

In the past I have purchased homes and sold homes using Realtors in various states, however, you are the only one I have met that I truly feel I can trust, and will be up front and honest with me. You were unbelievably helpful and  very flexible in accommodating our needs and time frames. In today’s economy there are lots of “listing agents, “buyer’s agents”, etc. but I wanted a no-nonsense real estate agent who would help us, and you did. Although I hope that my wife and I live in our home for a long period of time, if we do sell to retire I can only hope that you will still be working in the real estate field.

I am so tired of all the “talk” of customer service and so few live up to the meaning of the words, but you do. I hope that Century 21 truly realizes what an asset you are to their company. It is easy to talk the talk, but takes someone of special skills to walk the walk. Again, I treasure you as a friend, and a professional.

If I can ever return the favors please let me know. I intend to send a copy of this letter to the local Century 21 office as well as any national office I can locate online.

Sincerely,

Michael and Silvia O’Neil

You can reach Joey Condon at 979-764-2100 or joeyc@century21bcs.com

Susan Hilton

Sales Manager

CENTURY 21 Beal, Inc.

979-764-2100

            The Vet Open House will start at 9:00 Saturday Morning and is absolutely free to everybody. You can start off with tours through the small and large animal hospitals, going behind the swinging doors. After the tours you can visit various exhibits for organizations, demonstrations by agility dogs, trick horses, etc., and educational exhibits. And of course, you can’t have an open house at a Vet without a petting zoo, reptile room, and fistulated cows.

Has all this inspired your little ones to someday become vets? There will be a Q&A panel with vet students and representatives from the CVM admissions committee who can push them in the right direction. But this open house isn’t just for small children. It’s for people of all ages who have a passion for animals. The Vet is located on University Dr. right outside of the campus. For more information be sure to visit the website for this event at http://www.cvm.tamu.edu/openhouse/. For information on the Texas A&M Vet go to http://www.cvm.tamu.edu.

Had enough of furry little animals? Head on over to the new George P. Mitchell ’40 Physics Buildings on Campus for the 2010 Physics and Engineering Festival which starts at 10:00 in the morning is also free. Love science, or just like it? Be sure to check out the homemade hovercraft or try to generate electricity and all of the other experiments and displays. Accompanying all this is the world-famous physics showman Tom Noddy and the popular Bubble Magic presentation. The Festival will conclude with a lecture given by internationally recognized cosmologist Dr. Chris Impey on some of the most surprising and extreme places that life can be found in the Universe. So if your group likes science or you’re looking to spark some inspiration stop by and enjoy. For more information go to http://physicsfestival.tamu.edu or contact the Texas A&M Department of Physics at (979) 845-7717.

Put your Saturday to good use and spend some quality family time on the Texas A&M Campus.

Susan Hilton

CENTURY 21 Beal, Inc.

979-764-2100

Real Estate for Bryan College Station!

Call 979-764-2121 and hear information on ANY property for sale in the Brazos Valley.

Not everyone is a fan of spring cleaning. That is unless you’re an Aggie. While some are dreading the idea of a daylong cleaning session, Aggie Organizations across campus are gearing up for the “biggest” event of the year: The Big Event. The Big Event is the largest, one day, student run service project in the nation. All students, whether with an organization or a group of buddies, gather together to serve residents from the Bryan/ College Station community as a thank you.

For many Aggies the Bryan/College Station area has become a second home and are more than willing to offer a hand (multiple hands) to helping out the locals. Projects usually just consist of doing chores around the house such as raking, mowing, picking up trash, but can get as intense as pruning trees. This is also a great day because Aggies aren’t the only ones working. Residents pitch in as well, working side by side with students. Stories are told, pictures are shared, and memories are made. The Big Event gives students the chance to learn more about this great community, and the people who have lived here all their lives. Many of those being helped are former students, or have relatives going to school here. Residents benefit, not just from getting help, but for some having someone to talk to for a little bit. It’s a great day for both the students and residents.  

If you’re looking for a little help this spring cleaning contact Mallory Myers at 979-845-9618 or email her at bigevent@stuact.tamu.edu. The Big Event will take place Saturday, March 27^th from 8 in the morning to 4 in the afternoon with projects going on all over the area.

Susan Hilton

CENTURY 21 Beal, Inc.

979-764-2100

Real Estate for Bryan College Station!

Call 979-764-2121 and hear information on ANY property for sale in the Brazos Valley.

    Some of the nature reserves in the Bryan/College Station area are not very well known, even among residents– like the Texas A&M Horticulture gardens. Off South College Road, is a small street called Hensel; here you’ll find a small school and a garden tended by Texas A&M students and faculty. It’s a really lovely place, covered with flowers, trees, vines weaving lattices, and spring is the perfect time of year to see it.

    The city of College Station website alone lists 53 different parks, some as many as 500 acres, like Lick Creek Park. The city of Bryan has its own slew of parks and recreational activities, including water parks and imported snow slides at certain times of year.

    The Wolf Pen Creek Park is a huge network of trails and nature reserves that even has an amphitheater for festivals and music performances. In fact, Willie Nelson and .38 Special are schedule to perform April 23^rd and 24^th. It promises to be a really memorable performance and tons of fun for anyone.

    Anyone looking to escape street lights and paved roads for a change of scenery would not have to travel far. No matter where you are in the Bryan/College Station area, there is likely a park or nature trail within 15 minutes. Many of the parks are close enough to walk to, and many are larger and more remote; Bryan/College Station values both, depending on what sort of experience you’re looking for.

Susan Hilton

CENTURY 21 Beal, Inc.

979-764-2100

Real Estate for Bryan College Station!

Call 979-764-2121 and hear information on ANY property for sale in the Brazos Valley.

    Luckily, Bryan/College Station is far enough inland that storms and hurricanes don’t usually force us to evacuate. However, Bryan/College Station is in a perfect position to accommodate people who do have to evacuate– it’s far enough inland, making it safe, but it’s also not too far, making it accessible.

    When hurricane Rita hit in September, 2005, a lot of people from Galveston and Houston ended up in College Station. The roads were almost completely clogged, many stores were wiped clean of merchandise, and a lot of people ended up stranded on the roadside.

    Another thing that makes weather coastal weather emergencies relevant to Bryan/College Station is the fact that the sister cities is right on FEMA’s evacuation route. The Federal Emergency Management Agency (FEMA) is in charge of determining the evacuation route, and they have made a few changes that are important to Bryan/College Station residents.

    Most recently, FEMA is digitizing their Flood Insurance Rate Maps (or FIRM). A FIRM is a map of floodplains, the flatland areas surrounding lakes and rivers– it’s like an elevation map that focuses on flood prone areas. Most people don’t have these maps laying around their home, and in an emergency situation, it’d be much easier to find a computer. Communication is extremely important in emergency situations, and by digitizing their maps, they can make them accessible to anyone with a connection to the internet.

    What is important to Bryan/College Station residents is that on March 17^th, FEMA will open the maps to a public forum, meaning that the map is tentative. The public can comment, agree or disagree, and submit an appeal to try to get the evacuation route changed. If the new digitized map has critical faults, like cuts off an area from assistance, or isolates a hospital, you have the ability to tell the government how bad of an idea it is. The residents of Bryan/College Station are the best qualified to determine the best way of getting a massive amount of people through the city without disabling it.

    FEMA may not have a perfect track record of success, but emergencies are really difficult to accommodate. They are attempting to iron out the kinks and be more efficient, but public participation would help tremendously. Trying to organize and lead the general public is not easy, even for the government. Efficient communication is paramount, and to be successful, FEMA is turning to the internet.

Susan Hilton

CENTURY 21 Beal, Inc.

979-764-2100

Real Estate for Bryan College Station!

Call 979-764-2121 and hear information on ANY property for sale in the Brazos Valley.

    On the first Friday of every month, the city of Bryan becomes more open and festive. Restaurants stay open later and musicians set up on the street curbs, serenading strangers– once a month the city reveals its neighborly culture.

    Regardless of what type of person you are, outgoing or introverted, conventional or a complete oddball, you can find something fun to do with friendly people.

    A lot happens on First Fridays, and you have plenty of options. For parents, the Children’s Museum of the Brazos Valley has a a sort of baby-sitting event. If you’d like to get an evening out alone, or as a couple, the museum has a safe, fun environment for children to learn, do crafts, and eat a big, healthy dinner. After that you have lots of options: there’s wine tasting at the Downtown Uncorked Wine Bar, the Frame Gallery has a special art activity, and The Village café puts up a new art display in its gallery.

    It can really be a ton of fun; there are lots of friendly local people of all sorts simply trying to get out of the house once in a while. For the more reserved bookworm, the Carnegie Library has a book sale right outside it’s front doors, or if you’re a mingling single, the Revolution Café & Bar is a great place to meet people.

    Downtown Bryan is also a great place to see live music. The Casa Rodriguez has a great mariachi band playing every First Friday, but The Revolution also has a small stage, as does many of the local bars in the area, and they’re always occupied by very talented people.

    It doesn’t matter if you’re a long time resident, brand new to the area, or even just visiting, you would not be disappointed by going out on a First Friday. You could play your evening by ear, or plan a First Friday itinerary with the downtown Bryan website; no matter what you do, you’ll be surprised by the fun-loving culture found right in your own back yard.

Susan Hilton

CENTURY 21 Beal, Inc.

979-764-2100

Real Estate for Bryan College Station!

Call 979-764-2121 and hear information on ANY property for sale in the Brazos Valley.