Archive for September, 2010

Our List of Downtown Houston’s Hottest Condos

Wednesday, September 29th, 2010

Houston is not short on fantastic condos. In fact, for the ultimate in chic, urban living, Houston is the place to be. From trendy lofts to outstanding condominium homes with top-notch amenities and services, the downtown Houston condo market is jam-packed with options for nearly every buyer.

Here is our list of some of the best condos that downtown Houston has to offer:

  • Bayou Lofts – We love the Bayou Lofts, and not just for their reasonable home prices! These hip condos, which are priced from $159,000 to more than $600,000, are ideally located just steps from the light rail service and the Houston Theater District. If you want the ultimate condos with the ultimate location, then you owe it to yourself to check out the Bayou Lofts!
  • The Beaconsfield – If you want the convenience of downtown Houston and the history to go along with it, take a look at the Beaconsfield. Registered with the National Register of Historic Places, the Beaconsfield offers beautiful surroundings with gorgeous, architectural details and all the charm that goes along with it.
  • The Capitol Lofts – The upgrades to downtown Houston’s Capitol Lofts are quite impressive, from the new windows to the stunning, granite and glass façade. A great location, combined with fantastic building amenities and services, make the Capitol Lofts a popular choice when it comes to the downtown Houston condo market.
  • Commerce Towers – The Commerce Towers Condominiums offer mid-priced condo living in the heart of downtown Houston, as these condos are priced from $300,000. The beautiful design and elegant surroundings allow residents to live the urban life without the urban feel.
  • Four Seasons – If you want hotel amenities and services with a fantastic, downtown Houston location, then you must check out the Four Seasons! Priced from $270,000 to over $1 million, the Four Seasons offers top-notch services for its residents and makes them feel as if they are living as a hotel guest!
  • Franklin Lofts – If you’re looking for downtown Houston living without the associated prices, then the Franklin Lofts are for you! Located in the beautiful Historic District of Houston, these beautiful condos are priced from just $200,000.

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Commercial Real Estate Terms you must Know

Tuesday, September 28th, 2010

If you are interested in purchasing Houston commercial real estate, now may be the best time. From loads of available real estate to low interest rates, Houston commercial rate has never been more attractive for buyers and investors.

There are many terms used when discussing Houston commercial real estate, so it is important that you understand these terms and how they can affect your real estate deal.

  1. Appraisal – An appraisal in an important first step when purchasing Houston commercial real estate, and is required for the sale of any type of property, commercial or otherwise. An appraisal will include a written report by a state-licensed professional and will include a detailed analysis of the property in question. The appraisal will include a value, as determined by the appraiser, and the reasoning behind the analysis.
  2. Broker – A broker is usually always necessary when dealing with a commercial property and during a real estate transaction. All brokers must be licensed by the state, and most brokers work on a commission basis, which is usually paid by the seller.
  3. Concessions – Concessions is usually the term used by brokers when speaking of benefits given to the seller to close a lease deal. As a seller, you may offer to remodel or upgrade the commercial space, or offer the tenant a reduced rent for a period of time.
  4. Lien – A lien is a legal claim against a property that is made by a creditor. A property owner may have a lien on their property if they fail to pay a debt. As a buyer, your ability to purchase a property can be compromised if the property has liens against it.
  5. Sale-leaseback – A sale-leaseback is the term used when an owner of a property sells the property to an investor, who then leases back the property to the original owner. Many times, this allows the owner of the property to free up capital, while allowing the investor to receive tax breaks and a guaranteed return.

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Feeling at Home in Smaller Spaces

Friday, September 24th, 2010

Condos in the Inner Loop can be quite fabulous. From incredible views and location to superb amenities and features, the Houston Inner Loop has plenty to offer in terms of condos.

If you are one of the many Houstonians making the switch from a home to a Houston Inner Loop condo, you may be worried about making do in a smaller space. However, don’t let smaller spaces stress you out! There are many ways to make your Houston Inner Loop condo feel warm and welcoming in no time!

  1. A move to a Houston Inner Loop condo from a home may prove tricky, particularly if you have accumulated a lot of “stuff” over the years. So, the first thing you will need to do is conquer your clutter. Begin by going through your belonging well ahead of your move so that you can start throwing away or donating items that you no longer need or want. If you are an empty nester flying the coop, this may also be the time to pass down certain items to your children, as they will likely be starting their lives. This is also a great time to have a yard sale!
  2. Before moving, get measurements of the rooms of your new Houston Inner Loop condo so that you can be sure that your current furniture will fit into your new space. Think about the scale of the furniture you currently have, as well as the size of the space into which it will go; then you can decide whether to keep it or sell/donate it.
  3. Think about your new spaces, and plan accordingly. For example, is a dining room really necessary, or can you turn it into a home office. You may want to think outside the box when it comes to designing your new living space in your Houston Inner Loop condo, as the same rules may not apply to condo living.
  4. Keep what you love and get rid of the rest. Think of your move to your fabulous Inner Loop condo as a rebirth, of sorts, and keep only those items that you really love. Everything else can be sold, discarded or donated. Make your Houston Inner Loop condo all about the things you love and the things that make you happy!

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How to Approach the Home Buying process with a Level Head

Sunday, September 19th, 2010

You know you want to buy a house. But what’s next?

If you’re like most homebuyers, the process of purchasing a Galleria property can be downright frightening. You may be asking yourself a wide array of questions: How much house can I afford? Is my credit good enough to secure a loan? Where do I want to live? How much will I get for my current house? Should I hire a real estate agent to help me through the process?

Although you have many options when it comes to purchasing a house, and each house buying experience is decidedly different, there are a few things that every homebuyer can do to ensure that they keep a level head throughout the entire process:

  • Make it your mission to learn everything you can about the home buying process – before you begin! Simply put, there is no substitute for education and knowledge when it comes to purchasing a new Galleria home. The home buying process is a long –and often complicated – process, and if you don’t understand the process you could find yourself even more confused than you thought. And, if you’re confused, chances are that you are not making the best decisions regarding your home purchase. From reading books and online articles to hiring a qualified real estate agent who can guide you through the process, you simply must make it a priority to learn all you can about the home buying process.
  • Your credit IS important. Don’t assume that your past credit indiscretions are going to be forgotten when it comes to obtaining a home loan. Now, more than ever, lenders are scrutinizing the credit reports of their applicants and turning down more people than they are approving. Therefore, the best thing you can to do ensure that your credit is in good shape is to order a copy of your credit report from all three credit reporting agencies and repair your credit before you head to the lender for a home loan.
  • Don’t underestimate the power of a qualified real estate agent. Sure, you can purchase a home without using a buyer’s agent, but is it really in your best interest? A qualified, educated real estate can be your best advocate when it comes to buying a home, and can be there to guide you throughout the home buying process and answer any of your questions or concerns. In addition, a buyer’s agent will help you negotiate the deal and guide you through the closing process.

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