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5 Amazing Texas Real Estate Facts

Texas is a big state with big properties.  We wanted to take a look at some Texas real estate facts that we thought were both entertaining and surprising.  Hopefully this infographic about 5 selected Texas real estate facts will surprise you.  From the largest Texas home to the largest Texas ranch, these facts are amazing.

Without further ado:

1. The largest home in Texas is Champ d’Or in Denton county. At 48,000 square feet the home is currently listed for $35 million.  With this much space it would be easy to get lost.  The average home size in Texas is somewhere around 1700 sq ft.

2. The tiniest home in Texas may just be one designed by a company called Tiny Texas with houses measuring 448 square feet.  Tight quarters if you are living with a family and children.  You can find plans to build your own tiny home online at Tiny Texas.

3. The largest ranch in Texas is King Ranch, founded in 1853 with 825,000 acres in Southern Texas.  You probably recognize their logo as they have been around since 1853.

4. As of the newest census data 7 of the 15 fastest growing cities in the country are in Texas. Those cities include McKinney, Frisco, Odessa, Perland, Cedar Park, Georgetown and San Marcos.  Texas is growing and at an alarming rate.

5. The most expensive home in Texas and the whole country actually is in Dallas. Crespi Hicks Estate is asking $135 million. Sources: Texas Monthly, Census Bureau, Forbes 

While Texas continues to offer big property with big real estate prices and figures, the majority of Texas real estate facts should be focused around smaller agents and attorneys.  By far our clients are made up of smaller operations with smaller group sizes.

Bull Forms offers a simple online solution to generate all of your Texas real estate forms with simplicity.  Learn more about our Texas real estate form software here.

Sources: Census Bureau, Forbes

Image: Christian Meyn / FreeDigitalPhotos.net

Homeowners never get excited at the thought of a property inspection. They’re often costly, and finding something that needs to be repaired or addressed in the home is never fun. However, with the weather and storms that Texans have been experiencing, it’s important to make sure the home is safe. Without the inspection, small problems that aren’t noticed could become much worse, and much more expensive.

Benefits of a Texas Home Inspection

Many times, damage occurs that homeowners know nothing about, and without an expert eye for inspections, wouldn’t notice anyway. An inspector has experience finding damage left behind after storms and bad weather, and could notice something that could easily be fixed now, but if left unrepaired, could end up costing a lot more money. Inspections help prevent worse issues from popping up down the line. Home inspections are particularly important for individuals who are considering or who are in the process of selling their homes.

Before Purchasing a Home

Individuals who are considering purchasing a home inTexaswill benefit greatly by having an inspector check out the home before sealing the deal. Especially with the outbreak of recent storms and bad weather, individuals could be biting off more than they can chew if there’s a small problem with the house that could turn into something very large. Home inspections can reveal little issues that could be addressed by the current homeowner to keep the homebuyer from stepping into a money trap.

Home Inspections for Insurance Purposes

Certain types of storms, like tornadoes, have the power to actually rock the home off its foundation without it being noticeable at all. Individuals with insurance may think they can simply file a claim after huge storms cause damage. That’s a good idea, but when an inspector has been brought out to the property, gives a professional assessment of the damage and documents the damage to the property, homeowners have a powerful ally in their corner for dealing with the insurance company. This can prevent you from receiving lowball offers for damage repair, or from getting rejected all together.

Before Selling a Home

Having a home inspection before selling your home inTexasmay help it sell faster. When you’re able to tell potential buyers that the home has been completely inspected and found safe and in great shape, they’re going to be more willing to make a bid on the home. Buyers are so nervous that they’re going to end up purchasing a home that will need a lot of repair that they can be hesitant to bid sometimes. This is especially true for real estate “flippers.” Having inspection documentation before you can go a long way toward helping them decide to go ahead and purchase the home.

Overall, a home inspection inTexasis a great idea after bad storms and bad weather has passed through. It’s beneficial for everyone in any situation – the homeowner, real estate agent and the potential buyer.

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Texas real estate agents will typically utilize the standard methods to draw people to their open house; flyers, newspaper advertisements, and signs. However, when you really want to draw the people out to an open house, you might have to use more creative ways to get the message out. This might include using unique incentives to make people want to visit. Thinking of creative ways to draw people to aTexasopen house can help increase your potential of realizing your ultimate goal of selling the home.

Advertising in Unique Ways

To draw a large crowd out to the open house, you’re going to want to advertise in unique ways in order to reach individuals that you wouldn’t reach through traditional methods. This might include advertising the open house online, using sites like Craigslist.com. You can even use social networking sites like Twitter and Facebook to advertise the house as well as the incentives you’re going to use during the open house to draw individuals out. In addition to hanging flyers, leave them in strategic places such as the post office, the library, home renovation stores, and similar areas.

Incentives

Often times, people need a little extra incentive to get motivated. Some Texas real estate agents will have raffles during their open houses, providing that extra incentive. You could offer to give away big ticket items, like televisions or electronic gadgets. One real estate agent had a raffle for a $1000 prize during his massive 53 hour open house. He even had brand new Mercedes Benz vehicles for visitors to test drive during their visit to the open house. Incentives like this are a great way to get individuals out to the Texas open house.

Sponsors

Many real estate agents can’t afford to offer expensive items like televisions, electronic gadgets or similar items. However, one great way to be able to offer these things at Texas open houses is to gain sponsors. Local businesses and organizations in the community may wish to contribute items for giveaways for media mentions, and mentions on websites or advertising literature. Real estate agents will need to contact and network with business owners and individuals in the community in order to garner support for important open houses.

Make it a Celebration

In order to draw individuals out to the open house, make it a celebration rather than a simple open house. You can specifically invite individuals via email and postcards, and can serve refreshments like champagne and hors d’oeurves. A great idea is to make up party favor packets for each individual, with advertising literature (including literature from sponsors) and small promotional gifts. By making the open house into a celebration, those who are interested in purchasing a house will have even more incentive to visit your open house.

By using these creative ways to draw individuals to an open house, you can increase the number of visitors as well as increase the chances that someone will want to purchase the home.

University of Texas Real Estate Expo

On March 28, 2012, The University of Texas will once again put on their annual Real Estate Expo. This is a wonderful chance for UTSA students and real estate professionals to mingle and to potentially discuss internships or other real estate related topics and news. Currently, more than 20 companies and organizations are participating, including REEL (Real Estate Entrepreneurs and Leaders) and CCIM (Certified Commercial Investment Members).

What to Expect

During the expo, which will be held in the University Center Ballroom, professionals will discuss real estate internships and career opportunities. This gives bright young students a unique opportunity to look into their future and begin planning appropriately. During the 2011 Expo, more than 100 students were present to discuss internship opportunities with nearly 30 real estate companies and organizations. All real estate professionals and companies are invited to attend, and will be given a free table to display banners and other promotional materials.

The Benefits of an Internship

There are numerous internship benefits to both students and real estate professionals and companies. UTSA students get the chance to learn their industry hands on; gaining valuable experience and knowledge that will help them throughout their real estate career. Real estate companies get the benefit of an extra pair of helpful hands or eyes, and making the difference in a student’s life. Internships are often no pay or little pay, because the greatest compensation is the experience the student gains.

How Real Estate Professionals Should Prepare

Attending theUniversityofTexas Real Estate Expois very similar to a job interview for the students. They will be dressed to impress and most will have a copy of their resume handy. Companies should be prepared to provide students with an overview of their company as well as the benefits of doing an internship with the company. This might include things they will learn during an internship, what types of hands-on activities they will participate in, and more. If an internship could potentially lead into a job opportunity, companies and professionals should be sure to mention that to students as well.

Additional Information

The Expo will take place between the hours of 3pm and 6pm, and attendance is completely free. Companies or professionals who are interested in taking part in the Expo should contact Laura Gilliland at (210) 458-7333 or at [email protected]. Companies are encouraged to bring signs and banners to attract the students’ attention to their particular booth, as well as other promotional or educational tools as needed.

Overall, it’s a great opportunity for companies to gain hard working, dedicated individuals to intern and develop essential job skills that will serve them for years to come.

While the overall appreciation forecast for all 50 states is -1.79%, the forecast in each state varies greatly. While Texas real estate prices are on track to fall closely in line with those of the rest of the country, it’s important for real estate professionals to take a closer look.

Dallas/Plano/Irving

In the last quarter of 2011, the prices of homes in Dallas were ranked about 145, with an appreciation of 1.22%. This is in comparison to the best market, located in Lewiston,Idaho, with an appreciation of 7.64%.Dallas performed much better than the bottom slot on the list, which is home to Sumter,South Carolina and its appreciation of -5.30%. It’s predicted that the house prices in Dallas will be dropping even further, all the way through to the end of 2014.

Austin/Round Rock/San Marcos

The Austin area in Texas performed similarly to Dallas, and the future forecasts are expected to be similar as well.Austin’s home prices were ranked at 176, with an overall appreciation of 0.89%. To illustrate the long-term appreciation in the Austin area, they were ranked 13 within the last 5 years and carried an appreciation of 9.9%. The long-term forecast for the Austin area is that the prices will be going even further down.

Houston/Sugar Land/Bay Town

In the last quarter of 2011, the home prices in Houston were ranked 133, with an appreciation of 1.33%. Using these numbers, the forecast through 2014 is that the prices are going to fall even lower, just like the areas of Austin and Dallas. This is good news for those who plan on buying a house in the near future, but can be tricky for those who plan to sell their homes.

San Antonio/New Braunfels

During the last quarter of 2011,San Antonio home prices were ranked about 315, with an appreciation of -0.68%. In the last 5 years,San Antonio has been ranked as far up as 40, with an appreciation of 6.5%. However, the future forecast for the next several years is that the home prices in San Antonio will drop even further.

Economic Forecasts Nationwide

The drop in housing prices is due in part to several different factors, and the forecasts are created by looking at each of those factors. The values of homes in the past 12 months as well as the changes in the 30 and 15 year mortgage rate interest are factored in. So are the national crude oil prices and natural gas prices, as well as the value of the dollar and the unemployment rate.

In any case, within the next several years, the house prices in Texas will be falling. Individuals who are considering purchasing a home should attempt to do it within that time to take advantage of the low prices all over the state of Texas.

Looking for  Texas Real Estate Form Software? Look no further.

List Your Home in Texas for Sale

Before listing your home for sale in Texas, it’s important to consider the best way to present it to potential homebuyers. By creating a game plan and following these 10 steps, you can set yourself up for the best possible results.

1. Agent or No Agent

The first thing you’ll want to consider is whether to hire an agent to help you sell your Texas home. An agent can bring experience and knowledge of the local housing market and trends to the table, helping offer advice and suggestions that might make it a lot easier to sell your home.

2. What is the Asking Price?

One of the most important things you’ll want to consider is how to price your home for sale. The best way to do this is to look at similar homes for sale in the area and their asking prices. Keep within a similar range and slightly below the appraised value. This lets individuals know they’re getting a great deal on the home. Also, pricing above what you really want is key, since people will try to negotiate down.

3. How Will You Market It?

When trying to sell a home in Texas, one of the most important things you need is a marketing plan. Consider your budget as well as the best ways to advertise for your specific Texas region. Some ideas to consider include the newspaper, trade ads, and online methods like Craigslist.com.

4. Does Your Home Have Curb Appeal?

Stand out by the street and look at your home from a stranger’s point of view. Is the paint fresh and are the bushes and trees trimmed? Is the grass cut and leaves removed? Is the home attractive from the street? This is the first impression others will receive, so it’s important that it’s a good one.

5. Are All Personal Items Removed?

Individuals want to imagine their own belongings in a home they’re considering on buying, and it’s very difficult to do that with other personal belongings already there. Make sure all photographs and personal items are removed and that the home is staged so that it acts as a blank canvas for the mind of a potential homebuyer.

6. Has Your Home Been Inspected?

Many homeowners have their homes inspected before listing them, in order to ensure that everything is in a functioning state and that the home is in general good shape. This can prevent future problems and potential buyer issues.

7. Market to Retirees

One of the ways individuals have successfully sold their Texas homes is by marketing them to retirees. Individuals who are retiring are looking for warm, gorgeous weather, which Texas is famous for. To reach this target market, consider advertising online, especially on social networking sites.

8. Handyman Special?

One great way to sell a Texas home without having to do much repair work is to advertise it as a handyman special. Individuals in Texas are often known for their ability to fix things up and repair small problems easily.

9. Consider Unique Benefits

Each house has something about it that is unique and will appeal to individuals. If the home is a mile from the nearest neighbors, it can be advertised as “in the country” and “peaceful.” If a home is in the middle of town, adding something like, “An eight of a mile from the local Starbucks” will appeal to individuals who are looking for that kind of home.

10. Open House?

An open house can be a great way to reach out to individuals who might be interested in your home. Advertise the open house and make sure the home is staged and clean before entertaining potential homeowners.

Overall, these 10 things to consider when selling a Texas home will help tip the odds in your favor for a quick closing.

The Lone Star State has a lot of homes and a lot of land, and finding a good real estate agent is extremely important for any property purchase. The differences in Texas real estate are as big as the state itself: landscape, climate, and housing styles change from city to city. Having some help and navigation in this large terrain is ideal to finding the right home.

1. Knowledge

A real estate agent has studied and understands the business of property buying and selling. They understand the Texas real estate in which they work because they live there themselves. Agents are knowledgeable about property searching, price range, home value, inspections, negotiations, market activity, and every single piece of paper that needs to be signed before and after owning or selling a home. A good real estate agent will take all of this knowledge and apply it to their buyer’s needs, helping to make the confusing and sometimes difficult process just a little bit easier.

2. Resources

A Texas real estate agent will have many more resources available to them than simply what can be found in the newspaper or on the Internet. While these are excellent places to look or advertise for homes and property, knowing other real estate agents in the area, information on Texas real estate land value, or certain permit restrictions in a given area is an invaluable asset that will save buyers and sellers time, research, and headaches. Agents are usually able to make showing appointments on their client’s behalf and attend these viewings with them. Having an agent means quicker access to lockboxes, and absent homeowners tend to feel better letting strangers in their home with an agent present.

3. Finances

Real estate agents are also good for helping buyers and sellers work within the price range that they can afford. Working within a reasonable price range will narrow down the housing search for buyers and keep the selling cost competitive for sellers. A real estate agent will be able to explain and advise the client in safer purchasing options. They will also make clients aware of all the costs, not just the numbers that appear next to the paper listing. There are closing costs, inspection costs and fees, potential repair costs, gated community costs if applicable, and escrow costs. Financial guidance in Texas real estate is an important part of an agent’s service to their client.

4. Negotiation

Once that house or property has been found, it is time for the real estate agent to begin the negotiations in your favor. Agents will negotiate everything from termite inspection payments to closing costs, and they will do it with their client’s best interests in mind. If problems with the buyer or seller arise, the agent is there to step in on the client’s behalf and attempt to work out the problem. Many times this can happen between two real estate agents over the phone, and the homeowners and homebuyers never have to speak a word to each other. A good real estate agent will keep their client well informed as these occur and progress.

…

It is important to have a real estate agent when buying or selling in Texas because they can help the process go smoother and catch any problems that the client might otherwise miss. A real estate agent is a friend in the world of real estate, someone who understands the lingo, numbers, and negotiations that will get the best deal.