Fourth Quarter Housing Stats - Up From Last Year

December Closed Sales Bring Numbers Up For the Last Quarter of 2009


For the year, our sales figues are definitely down, but it is certainly positive that we ended 2009 with an improvement in the 4th quarter over the 4th quarter of 2008. Below are the year end Housing stats compareds.

Where to Go For Tax Info...Square Footage and Assessed Value

News from CCAR - Monday Memo: "Tax information, Square Footage and Assessed Values - Where and How to Find It

Did you know that there are several ways to find Tax Information from the five most used County Appraisal Districts?
Here is how to look for Square Footage Source and correct Tax ID to use when listing is entered in MLS:

Nueces County
Call: 36...
On location they have computers you can access: 201 N. Chaparral, Corpus Christi, Texas 78401
Website: http://www.ncadistrict.com/


San Patricio County
Call: 361-364- 5402
On location: 1146 E. Market St - PO Box 938, Sinton, TX 78387-0938
Website: http://www.sanpatriciocad.org/

Jim Wells County
Call: (361... ext.12
On location: 1600 East Main Street, Suite #100, Alice, Texas 78332
For a Copy of an Appraisal Card they charge 10¢ per page. The card needs to be picked up in person by the agent because their office does not take credit card payments.

Live Oak County
Call: 36...On location: 205 Bowie, Texas 78022-9998
For a copy of an Appraisal Card they charge $1 per page. They can fax it or email it to agent per request.

Kleberg County
Call: (3...On location: 502 E. Kleberg St., P. O. Box 1027, Kingsville, TX 78364-1027
Website: http://www.klebergcad.org/search_appr.php"

U.S. Treasury Dept. Revises Short Sale Guidelines to Assist Homeowners

SHORT SALE GUIDELINES REVISED

WASHINGTON (Associated Press) - Guidelines for short sales to help homeowners who need to sell their houses but cannot secure contracts at a high enough price to pay off their mortgages have been revised by the Treasury Department.

The plan was created to aid homeowners whose income or debt is too low to qualify them for a loan modification under the Making Home Affordable program. The plan establishes timetables, a standard process and documents, and cash incentives for participation.

The new guidelines require the following:

Property be the homeowner's primary residence;

homeowner be delinquent on the mortgage or likely to default; loan was made before Jan.1 this year and is less than $729,750 and borrowers' total monthly mortgage payment exceeds 31 percent of their before-tax income.

The guidelines are expected to reduce paperwork by requiring mortgage companies to use the financial and hardship documents submitted by borrowers seeking a loan modification. To speed up the approval process, mortgage companies will have to approve short-sale terms, including the minimum listing price, before the house is put on the market. Mortgage companies will be required to offer the program as of April 5, 2010.

Sharing Fees With Attorneys - Is It Permissible?

News from CCAR - Monday Memo: "An attorney told me that her client attended an open house for one of my listings and wanted to make an offer on the property. The attorney told me she was preparing an offer for her client and insisted that I pay her the same fees I had offered to cooperating brokers in the MLS. The attorney does not have a broker's license. Can I pay the attorney the coop fee if this offer is accepted by my client?

The answer is NO. The following explains why.

The Texas Real Estate License Act (Texas Occupations Code, Section 1101.652(b)(11)) provides that a broker can lose his license for paying a fee to anyone not licensed as a real estate broker or salesperson in Texas or any other state for compensation for services as a real estate agent. While the attorney is exempt from regulation under the Texas Real Estate License Act, you are not; you would face disciplinary action for violating the act.

Certainly, the attorney is permitted to represent clients in real estate transactions by virtue of her license to practice law. It does not follow that you can pay that attorney the coop fee for her representation of her client. The attorney can and should seek compensation for her services from her client."

Third Quarter Statistics Reflect Market Status Quo

In Corpus Christi, we have recently seen our market reflect some of what has been seen across the country. But keep in mind, we in Corpus Christi are in a much better position than most other cities nationwide, and Texas as a whole is faring much better that almost every other state in the nation.

That means although our housing sales have not rebounded as of yet, we expect to see that taking place in the near future. And with the recent expansion and extension of the tax credit, we should continue to be adding new buyers and sellers to the market.

The following are our third quarter MLS Statistics. You can also find them on our web site www.ccaronline.com. When you get there, click on blogger and put the word Stats in the search box.

Due to family issues, Michael Reyna who had been hired as the new CCAR AE will not be taking the job. A new search will begin immediately!

CCAR hires Michael Reyna as New Association Executive, Membership Invited to Reception Friday, Nov. 20 @ 4:00 pm at the association office.