Allen Brothers Houston Real Estate

Hello All-
I am a realtor this is my personal experience. I bought a bank owned home in January for $130,000 FHA 30 year fixed @ $925 per month inc taxes. I was renting a smaller home for $1450 per month. I came out of pocket with all closing costs and money down $$10,500 in 20 months I will have made that money out of pocket break even. over the nnext 28 years I will save $176,400 in rent. It is a great time to buy!

-Ruth Dubach (Zillow)

PRESTIGIOUS RIVER OAKS LOCATION!CONTEMPORARY 4 STORY BEAUTY!Stunning island kitchen: STAINLESS STEEL APPS + unique cabinetry + wonderful views!Soaring high ceilings throughout!Massive family rm w/FP + ceiling fans + RICH HARDWOODS!WOOD STAIRS!Upgraded bath fixtures + flooring!GORGEOUS master suite boasts POSH bath with dual sinks + whirlpool tub & sep shower!Breathtaking views of Downtown!Stunning!

contact Josh Foster 713-822-8407

Follow this link to view a video about Houston, showing its low cost of living, affordable housing and elevated lifestyle:

Houston Texaplex

In a typical FSBO transaction, the owner is selling without an agent to retain the 6% sales commission, and this sum, if applied to the asking price, will make their property the most lucrative deal in the region based on all market comparables. These properties all sold with the 6% commission included, so buyers will gravitate to this new lower $/sq. ft. investment in the same area and negotiations will be practically unnecessary. In fact, a common strategy for a FSBO owner is to split the saved commission with the buyer by cutting 3% from the comparative market value (CMV) of the property. The buyer saves 3%, the seller saves 3%, and everybody wins.

Many earnest investors will never even be aware that the FSBO exists; much less that it is 3% below the CMV of properties in the neighborhood.  The majority of investors who do locate the FSBO and make offers on it will have been deliberately looking for FSBOs. Historically, these buyers are looking for an exceptional deal, and for them this means automatically offering 6-10% less than the posted asking price. If the CMV of the home is $500,000, the owner has taken 3% off this price to save on commission ($485,000). The FSBO buyer then arrives with an automatic low-ball offer of 10% less ($436,500). FSBO sellers may then counter at full price or sometimes raise the asking price to compensate for the buyer’s low-balling. Usually, the FSBO buyer moves on because getting a bargain is more important to them than buying a home.

The irony is that many times FSBO sellers are so caught up in “saving” the commission that they lose thousands of dollars. They are stepping over a quarter to pick up a dime and then think they’ve come out ahead – while simultaneously doing all the work themselves just to get to that point of loss. Perhaps even more ironically these sellers unfortunately hurt the values of the surrounding homes by selling for less than the home was actually worth. All the area homes now have been hurt by that one comparable low FSBO sale. Instead of helping the neighbors, the FSBO seller hurts them all.

$307,500 Foreclosure in Desirable Midtown Houston. Taking Offers Now.

2 bed, 2 bath, 1311 sq. ft

One block from restaurants & bars.

Fabulous recent construction in the heart of the city. Great views. Wonderful urban amenities. Stainless appliances. High ceilings. Breakfast bar. Granite island kitchen. Walk-in closets. Open concept. Hardwood floors. Granite countertops. 14-seat theatre room. Deluxe lounge/party room. Fitness center and spa. Beautiful green view looking West. Walk to Metro Station, walk to work, nearby popular restaurants and bars. Midtown Houston.

call Josh Foster 713-822-8407

A trend in online home marketing (with services such as Zillow.com that began during the real estate crash of 2008) has sparked a passionate debate between the do-it-yourself elitists of this country and the real estate industry, calling for a mass elimination of all real estate professionals - a phenomenon we are as unlikely to witness as the mass elimination of the common grocery store.

Let me explain where I’m coming from. I will gladly admit that I am defending my own profession as I write this, and I’m also happy to admit that the real estate profession as we know it is probably destined to transform into something completely different in the years ahead.

It is not doomed to the same fate as the printed newspaper or the travel agent, however. It is not headed for some sort of extinction. Why? Because the core service provided by a good real estate agent is not something you can simply bypass with the use of online databases and pricing algorithms, as the do-it-yourselfers would have us believe.

The DIY cynic believes that realtors came into existence by monopolizing data – nothing more, nothing less. If this kind of data had been available to us 100 years ago, there would be no such thing as a real estate brokerage today; a home purchase would simply be a two-way transaction involving the buyer and seller haggling over the sales price like two people at a garage sale haggling over used jeans. What a utopian vision! How could it have ever been otherwise? Now that the floodgates of information have exploded into the public domain, we can all make this vision a reality in no time, saying goodbye to the obsolete real estate agent and instead buying software that will do it for us.

Or can we? A vital service cannot be monopolized in this country. Sure you can cook your own dinner, but your freedom to cook has not threatened the dining industry. Restaurants have probably been selling you expensive meals ever since you started getting an allowance. An argument could be made that in this analogy, “doing the cooking yourself” in a real estate transaction will probably save you many thousands of dollars; much more than the fifty dollars you blew eating out. By this reasoning, why isn’t everybody bypassing the realtor and “cooking their own” real estate closings?

There is no need to explain all the vital skills a good Realtor brings to the transaction. If our industry didn’t come into being by monopolizing data in the first place, then our industry will not perish now that online databases rival the Multiple Listing Service (which they don’t, by the way). Another blog can explore this popular myth.

FABULOUS BUILT MASTERPIECE!THREE STORY CONTEMPORARY HOME WITH STUCCO EXTERIOR!! DREAM kitchen with gas apps + windows galore + hard surface counters!SOARING HIGH CEILINGS!! UPGRADES GALORE:Low E pane windows + hardwood flooring + crown moulding & more! Master suite boasts POSH master bath with dual sinks + separate tub + shower!PRIVATE BALCONY OFF MASTER BEDROOM!! Convenient location to Allen Parkway + WONDERFUL downtown Houston + I-45 & MORE!! Don't miss an amazing opportunity! H-U-R-R-Y!!

Call Allen Brothers Realtors

713-524-2292 office

713-822-8407 cell

**SHORT SALE**! HUGE PRICE REDUCTION! LOWEST PRICE PER SF IN RIVER OAKS, ROYDEN OAKS AND OAK ESTATES Soaring ceilings with antique wood beams,furniture quality cabinetry,top o'line appliances,lighting fixtures w/low voltage controls, prewired for automation,granite and stone countertops,Loggia with Summer Kitchen, outdoor fireplace. Master Suite has separate baths and private balcony. Room for pool.

Call Allen Brothers Realtors 713-524-2292

Josh Foster 713-822-8407

Seven consecutive months of falling housing prices were reported in the Case-Chiller index report, through February. A bottom may finally be approaching - the second since 2009. That was when a long slide that began in 2007 finally bottomed out, rose again, and then began to go down again.

This 20-city index is down 32.6 percent from its peak. 10 metro areas reported new lows on the index for the third month in a row: Atlanta, Charlotte, Chicago, Las Vegas, Miami, New York, Phoenix, Portland (Oregon), Seattle and Tampa. Only Detroit saw prices rise, but saw a bottom the previous month. These prices were below 2000 levels.

Some houses could be overvalued in some markets, but enormous oversupply and ensuing foreclosures will continue to put pressure on housing prices for some time to come, according to Joshua Shapiro, chief US economist for MFR Inc.

$750,000 FORECLOSURE IN OLD BRAESWOOD

HUGE DEAL!!

BANK FORECLOSURE; TRADITIONAL RESIDENCE WITH SPACIOUS LAYOUT IN OLD BRAESWOOD. FEATURES INCLUDE POOL, LARGE ISLAND KITCHEN W/ WALK-IN PANTRY, HARDWOOD FLOORS IN FORMAL LIVING AREAS, SHARED OFFICE/LIBRARY WITH BUILT-INS, CIRCULAR DRIVE WAY AND GARAGE APARTMENT. CLOSE TO EVERYTHING WITH MEDICAL CENTER NEARBY.

CALL ALLEN BROTHERS 713-822-8407 TO MAKE AN OFFER

Taking offers on this foreclosure today! Allen Brothers Realtors 713-524-2292

Wonderful opportunity in Southampton! Updated in 2005. 2 or 3 bedroom, 3 full bath, family home on large 8,375+/- sq. ft. lot. Gourmet kitchen with granite counters, stainless steel appliances, sub-zero, and two wine coolers. Formal living and dining rooms. Sun or family room. Master bath with double sinks, tub and separate shower. Features include: Hardwood flooring, french doors, recessed, art & under cabinet lighting. Patio overlooks large back yard. Two car garge and more!

Taking offers now!

Call Allen Brothers Realtors - 713-524-2292

$740,000 AFTON OAKS FORECLOSURE - ONLY 19 DAYS ON MARKET

CONTACT JOSH FOSTER - (713) 822-8407

BANK OWNED - OFFERS BEING ACCEPTED - MULTIPLY YOUR EQUITY

INCREDIBLE OPPORTUNITY !!! Gorgeous Mediterranean Home built in 2007-Wonderful floor plan-gourmet island kitchen w/Balian ceramic tilework,large living and dining, fireplace, master down, elegant spiral staircase, elevator working, gameroom, 2nd floor bedroom suite with kitchen plus 2 other bedrooms w/full baths, 3rd floor bedroom w/full bath. New construction is planned next door and new fence at the end of the block is planned.

OFFERS BEING ACCEPTED - CONTACT JOSH FOSTER (713) 822-8407 

$789,000 BELLAIRE FORECLOSURE - ONLY 25 DAYS ON MARKET

CONTACT JOSH FOSTER (713) 822-8407

OFFERS BEING ACCEPTED

Spectacular new construction is now bank owned at a great price. Large entertaining spaces and great flow. Hardwood on first floor; kitchen with upgraded appliance package is open to breakfast and family room. Dining room with adjacent wine area; all bedrooms have private bath and walkin closets - large rooms! Master with fireplace, private covered porch, huge master closet and bath. This is a big opportunity!

Bellaire - never lived in and now bank owned. The house sparkles with hardwood floors throughout first floor; large entertaining spaces; open kitchen with large breakfast and full wall of windows to the big back yard; study with built-ins; all bedrooms have private baths. This is a real opportunity.

CONTACT JOSH FOSTER - (713) 822-8407

OFFERS BEING ACCEPTED

Summary of a January 2011 Tierra Grande article

Texas' property tax is one of the highest in the country, often discouraging people from moving here from other states. But overall tax burden in Texas often ranks below national averages, after state and national sales and income taxes are factored in. Texas is even in the bottom ten, according to DC's chief financial officer.

Every year in DC a report comparing taxation in each state's largest city is compiled. It factors in numerous variables. A family of three is assumed. Even homestead exemptions are taken into consideration.

The report contains effective tax rates for every city in the study; this amounts to the percentage of actual market value that must be paid to both state and local governments.

After tax rates are adjusted for percentage of assessed market value (some states set the value at 50% of this value), Houston ranks 4th in the nation at $2.52 per $100 of value. Indianapolis ranks first at $2.92 per $100.

Rates are only part of what determines overall tax burden, however. Exemptions, "circuit breakers" and other things factor in. After a homestead exemption of $25,000 is factored into a $100,000 home's property taxes, the effective rate becomes $1.13 per $100 as opposed to $1.50 per $100.

The DC study factors in all the exemptions and credits a family of three could possibly claim before estimating the amount of tax paid. In Houston, a family of three earning $100,000 per year is shown to pay $5,357 in 2008, ranking Texas 44th; a tax burden of 5.4 percent.

Houston consistently ranks in the bottom ten for total taxation except for the lowest paid income level, which still ranks 36th out of 50. Texas property tax rates may be steep, but overall tax burdens are generally low by comparison.