Moving to Houston Area and have a few ?’s

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  • black_ice

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    So I’ve been here for 6 months and still haven’t found a place. I’m in a month to month rental in Wrights Landing currently.


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    Tnhawk

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    So I’ve been here for 6 months and still haven’t found a place. I’m in a month to month rental in Wrights Landing currently.


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    My wife and I spent over a year before finding our current home in Savannah. The location was a few miles from where we had originally desired to locate. Driving times and distances were an easy adjustment to make in retirement. Unfortunately interest rates changed during the time we were searching for a place.
     
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    TipBledsoe

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    Seems to be time to reconsider your options.
    1) Enlist the assistance of a Realtor.
    2) If you’re already doing #1, either the Realtor is not doing their job properly, or you’re not properly communicating your requirements.
    3) Look elsewhere in the Houston area.
    4) Relax your requirements.
    5) Build what you want.
    6) Move back to LA.
     

    Polkwright

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    My son is a real estate agent and the market is pretty tough right now. Not a lot of inventory. A lot of his clients end up in new construction. But it takes work.
     

    Eli

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    My son is a real estate agent and the market is pretty tough right now. Not a lot of inventory. A lot of his clients end up in new construction. But it takes work.
    I've been in RE for years, it's a nightmare right now - and about to get a lot worse due to a couple of class action suits and the NAR settlement. You're going to have to pay your own agent, and you're going to need one more than ever!

    Eli
     

    Polkwright

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    Cliff notes please.
    There was a class-action suit against the NAR and others over the way commissions for buyer agents are controlled. It was deemed unfair to sellers by fixing the buyer's agent commission which the seller pays.

    So now, the buyer agent's commission is no longer part of the deal. If you want a real estate agent as a buyer you negotiate their commission directly with that agent. He no longer just automatically gets x%.

    Now of course a buyer can include that in his calculations when making offers. Buyers can still ask for cash from the seller at closing to cover it. It just now becomes part of the deal. I suspect there will be some workarounds. Good for sellers. Bad for buyers.

    It hasn't really been implemented yet, but they are working on it pretty fast.

    That's my basic understanding of it.
     

    smittyb

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    Cut N Shoot
    Well at least two more considering I have one of each


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    Seems to be time to reconsider your options.
    1) Enlist the assistance of a Realtor.
    2) If you’re already doing #1, either the Realtor is not doing their job properly, or you’re not properly communicating your requirements.
    3) Look elsewhere in the Houston area.
    4) Relax your requirements.
    5) Build what you want.
    6) Move back to LA.
    I believe #6 is the best option for everyone.
     

    Eli

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    Dec 28, 2008
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    Ghettohood - SW Houston
    Cliff notes please.
    Nationally, the National Association of Realtors has had a longstanding policy that the sellers pays both their agent and the buyer's agent. This was for a variety of reasons, but most importantly it helped buyers have their own advocate in a transaction and lenders historically refused to finance (and sometimes prohibited the buyer paying) the commission.
    Here in Texas, it was structured that the seller paid their agent the full commission (typically 6% but negotiable), and the seller's broker would 'split' the commission with the buyer's broker.
    Unfortunately, in certain other states, the Listing Agreement stated the seller (not the seller's broker) would pay the buyer's broker, and a bunch of dirtbag lawyers saw the opportunity line their pockets at the expense of consumer protection and advocacy, and sued.
    There was a class-action suit against the NAR and others over the way commissions for buyer agents are controlled. It was deemed unfair to sellers by fixing the buyer's agent commission which the seller pays.

    So now, the buyer agent's commission is no longer part of the deal. If you want a real estate agent as a buyer you negotiate their commission directly with that agent. He no longer just automatically gets x%.

    Now of course a buyer can include that in his calculations when making offers. Buyers can still ask for cash from the seller at closing to cover it. It just now becomes part of the deal. I suspect there will be some workarounds. Good for sellers. Bad for buyers.

    It hasn't really been implemented yet, but they are working on it pretty fast.

    That's my basic understanding of it.
    Buyer's agent commission has always been negotiable, and oftentimes increased to entice buyer's agents to sell properties - which is problematic.
    Sellers can still pay a buyer's agent commission, but it is prohibited to say so in the Multiple Listing Service (MLS)!
    One of the biggest changes is a Buyer's Representation Agreement is going to be required before a buyer's agent shows a property.

    This is ultimately going to hurt consumers, listing agents (which have a smaller workload) are going to keep getting what they've been getting in many markets but buyers are going to want to 'save 3%' by either not having their own agent or using a cheap agent. Problem is, in Real Estate Agency, you get what you pay for! Those of us that are competent and do good work will continue on - although I'm already doing ag land and commercial instead of single-family - and hopefully make a good living.

    Eli
     

    Brains

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    Apr 9, 2013
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    Spring
    So I’ve been here for 6 months and still haven’t found a place. I’m in a month to month rental in Wrights Landing currently.
    There's a few houses for sale up near me (across the bridge to your North), but they typically get scooped up pretty quickly. I see houses in Benders pop up all the time, but most need updating and don't really warrant the asking price in my opinion. You mentioned early in the thread you're working out near Cypress, you making that commute each day?
     

    black_ice

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    There's a few houses for sale up near me (across the bridge to your North), but they typically get scooped up pretty quickly. I see houses in Benders pop up all the time, but most need updating and don't really warrant the asking price in my opinion. You mentioned early in the thread you're working out near Cypress, you making that commute each day?

    I’m in outside sales and have to go to Conroe once a week on Monday. Rest of the week I’m in my territory or working from home.

    Yeah everything in Benders is also big as shit. The lot prices in Benders at 450k have it out of my price range to build so I’m looking in River Walk in Porter for $200k for an acre.

    There’s been a couple in Bender’s but my house hadn’t sold yet. Now that it’s sold I’ve got the equity sitting in a HYS just waiting.

    I think I’m going to be in this house for a long time and will want a hidden gun room like I had in my last house so I may be better off building.



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    black_ice

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    Well I’ve looked all over and I just keep coming back to Bender’s Landing and having an acre vs having someone on top of me.

    Looking to sign a contract on a house in the am so wish me luck


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    leVieux

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    Mar 28, 2013
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    The Trans-Sabine
    Well I’ve looked all over and I just keep coming back to Bender’s Landing and having an acre vs having someone on top of me.

    Looking to sign a contract on a house in the am so wish me luck


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    <>

    Before buying a suburban home check your commute times, length & duration, plus the actual times of day you’ll be commuting.

    The commute difficulty may vary tremendously depending to the precise time of day one is enroute.

    A story: Years back a colleague lived out South of Richmond and worked in the Med Center. He learned that he could leave home an entire hour later, but get to work just a few minutes later.

    I went to a dentist out Katy who worked evenings. At 5:00PM, it would tame me 90 minutes to get there. Going back around 9:00PM, the same trip was 15”.

    <>
     

    black_ice

    Active Member
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    Jan 14, 2017
    216
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    <>

    Before buying a suburban home check your commute times, length & duration, plus the actual times of day you’ll be commuting.

    The commute difficulty may vary tremendously depending to the precise time of day one is enroute.

    A story: Years back a colleague lived out South of Richmond and worked in the Med Center. He learned that he could leave home an entire hour later, but get to work just a few minutes later.

    I went to a dentist out Katy who worked evenings. At 5:00PM, it would tame me 90 minutes to get there. Going back around 9:00PM, the same trip was 15”.

    <>

    Appreciate the info but I’ve been here since December. Rayford and 99 works the best for our commute. My office is in Conroe and my wife’s office is of Airtex.


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