Townhomes needed in Sugar Land, Richmond, Rosenberg area

There is a critical shortage of townhomes in Southwest Fort Bend County, especially one-story units.  As the baby boomers continue to retire, stay active, and live longer; many are looking to for a lifestyle change from their older & larger suburban or inner loop homes.  They want smaller homes to maintain with smaller yards, and less headaches.  They are still very active and  want to be involved in their grandchildren’s activities, but don’t want to drive to far to attend baseball games, swimming & gymnastics meets, tennis matches, football games, etc.  And although they don’t want to admit it, they also need to be closer to their adult children in the event of a medical emergency.

Greatwood has a few of these ideal townhomes, as well as Sugar Land off of Grants Lake and in the Sweetwater & Riverstone areas.  However, there are several problems with these developments, mainly the lack of one-stories and the lack of inventory.

The ideal buyer for a townhome in the suburban areas is typically empty nesters who have no desire to walk up and down stairs, any longer.  Hence the reason one-stories are in high demand.  The ideal buyer I have encountered recently wants at least 2 bedrooms and 2 full baths, a Study, Formal Dining, updated kitchen with a breakfast area, and a Master Suite with a large walk-in closet.  They prefer a small yard with a covered patio that backs to some type of natural habitat that presents a nice view of nature.  And of course, they are willing to pay for some optional luxuries, but would prefer a nice livable unit that comes standard with granite, tile, updated appliances, and nice light fixtures; with a base price below $200K.

Currently, I have three clients waiting for a one-story townhome to become available; and I’m almost certain I’m not alone.  I have talked to several Realtors that are in the same position with clients who have been waiting months for something to become available in the areas I mentioned above.

Maybe we can convince a builder to purchase a few acres in the area and develop a 55-older one-story townhome community in our immediate area that fits the criteria for the typical buyer mentioned above.

For more commentary from Julius, pick up a copy of his book entitled “The Truths and Myths of Real Estate” – available at LuLu.com at:  http://www.lulu.com/shop/julius-zatopek/the-truths-myths-of-real-estate/paperback/product-21118216.html

Lease Procedures - Initial Payments

Did you recently lease a property and were asked to make one check (typically the security deposit or first month's rent) payable to the listing broker?  If so, you may want to consult an attorney.

 

All lease payments made by a tenant should be made payable to the landlord (or Property Manager) – then landlord should pay the listing broker, per the lease listing agreement – and then the listing broker should pay the other broker, per the Agreement between Brokers form. See the flow chart below for further understanding.

Some real estate offices have the tenant make a check payable to the listing broker, in lieu of a security deposit or rent. Nothing could be more incorrect. If this is done, there is no record of a security deposit or rent ever being made to the landlord –there is no contractual agreement stating that a tenant pays the listing broker –and the listing broker could be accused of commingling of funds.

 

The only exception would be if the property is being managed  by a property management company.  In this case, it may be acceptable to make all payments payable to the property management company - but you would definitely want to verify to make sure.  And, you should request a copy of the property management's companies declaration page of their Errors & Omissions Insurance to ensure they are insured to manage property.

Please feel free to share this information and the flow chart below with real estate brokers who do not understand the incorrectness of having tenants pay them directly. I have reviewed the correct procedure stated above in italics and outlined in the flow chart with the Texas Association of Realtors attorneys, and they agreed.

 
For more commentary from Julius, pick up a copy of his book entitled “The Truths and Myths of Real Estate” – available at LuLu.com at:  http://www.lulu.com/shop/julius-zatopek/the-truths-myths-of-real-estate/paperback/product-21118216.html

Proposed Mobility Plans for our Area

By: Julius F Zatopek III – Broker/Owner – Zatopek Properties

Mobility has always been a hot topic in our area, and it always will be.  This is just one of the things counties must deal with when they are one of the fastest growing counties in Texas, and in the nation.  In the November 2013 elections, we will most likely be asked to vote on a bond for approximately $185 Million, which will help fund the completion of the proposed projects – projects that are estimated to cost well over $300 Million, according to our County Commissioner, Richard Morrison.  However, with the assistance of businesses, cities, counties, etc. – the cost will be offset to help cover the overall expense, without having to raise taxes!

Some of the projects in our immediate area on the proposal are:

·         the extension of Sansbury Blvd to FM 762

·         the extension of Williams Way Blvd from I-69 (Hwy 59) to FM 762

·         the extension of AJ Meyers (Bridlewood area) to Royal Lakes Blvd

Below are a few links regarding the projects.  I really like to Major Thoroughfare Map – it gives a very detailed plan of future proposed mobility projects – some are quite eye opening, and exciting!

Press Release: http://www.fortbendcountynews.info/go/doc/1529/1864721/Updated-list-with-Precinct-information-FORT-BEND-COUNTY-COMMISSIONERS-COURT-TO-CONSIDER-MOBILITY-BOND-AUGUST-13

Fort Bend County Proposed Mobility Projects (list): http://www.fortbendcountynews.info/external/content/document/1529/1864805/1/2013%20Fort%20Bend%20County%20Mobility%20Project%20List%20with%20precinct.pdf

Fort Bend County Major Thoroughfares 2007 Approved Plan Map: http://www.fortbendcountytx.gov/modules/showdocument.aspx?documentid=1337

Questions regarding the proposed projects may be directed to the Commissioner in whose precinct a project is located, or to the County Engineering office.

 For more commentary from Julius, pick up a copy of his book entitled “The Truths and Myths of Real Estate” – available at LuLu.com at:  http://www.lulu.com/shop/julius-zatopek/the-truths-myths-of-real-estate/paperback/product-21118216.html