|
|
-
From the Houston Association of Realtors, in which I am a proud member of. The October numbers are in. In summary: Houston Real Estate Milestones in October Single-family homes sales increased for a second consecutive month, by 13.8 percent; Existing single-family home sales increased for a second consecutive month, by 15.6 percent; Total property sales increased for a second consecutive month, by 14.1 percent; The median price of a single-family home was up for the sixth straight month, reaching the highest level ever recorded in an October ($149,000); The average price of a single-family home reached the highest level ever recorded in an October ($198,639); Month’s inventory of single-family homes dropped from 6.3 to 6.1 months compared to the national average of 7.8 months.
|
-
|
The National Association of Realtors, in which I am a proud member of, reported that October home sales rose by 10.1 percent in October. NAR also reported that home inventory is at a 2.5 year low. If you must sell now, it is a good time while there is little competition on the market.
|
-
|
When a home owner is behind on payments and owes more on their property than the property is worth, the seller can ask the bank or lender for approval to do a short sale. The home owner should then hire a realtor who is experienced with short sales to represent them and to communicate with the lender through the process. Once a contract offer from a buyer is accepted by the seller, then the contract must be sent to the lender for final approval. Getting the final answer from the bank can take from 60 days to a year. To sum it up, short sales can take a long time to close. Buyers should also have a realtor exprerienced in short sales to represent them and to educate them on the process. It can become a stressful event for the buyer if they become anxious or are in a hurry to close. Buyers who are in a hurry to buy should not consider a property that is under short sale.
|
-
From the National Association of Realtors: "Total state existing-home sales, including single-family and condo, increased 11.4% to a seasonally adjusted annual rate of 5.30 million units in the third quarter from 4.76 million units in the second quarter, and are now 5.9% above the 5.01 million-unit pace in the third quarter of 2008. Sales increased from the second quarter in 45 states and the District of Columbia; 28 states and D.C. saw double-digit gains. Year-over-year sales were higher in 32 states and D.C."
|
-
|
If you are thinking of selling in the next 12 months, now is the time. Current inventory is low. But this will change. We are already seeing signs that seller confidence is increasing due to the recent new tax incentives to home buyers. Buyers have more more incentives than ever to buy due to low interest rates, the $8000 tax credit extension, and the new $6500 tax credit to present homeowners who choose to buy. You, as the seller, are now in good position to get the most for your home because of the low inventory. But as inventories increase, as expected over the next few months, the competition from homes on the market will increase. And builders are building as we speak. All this will likely keep home prices in check. In other words, to get the most for your home, sell now!
|
-
|
The Senate is considering extending the first time home buyers $8000 tax credit to the end of April of 2010. The proposal from the Senate also includes a $6500 tax credit to present homeowners who purchase a home, and have owned and lived in their present home for the last 5 years. REMEMBER, the tax credit is equal to 10% of the purchase price. Stay tuned.......
|
-
|
With the DOW back in 5 digit territory, the question remiains, can it sustain its upward trend? Right now it is a psychological lift for investors who are in the market and may send a signal for those on the sidelines to join. Two forces that drive the US ecomony, housing and employment are the key. The real estate market is a local market. Texas is in pretty good shape now and all indications point to a strong year ahead. As far unemployment, the key will be if businesses start to make consistent profits, then hiring will begin again.
|
-
There are some great deals out there for the smart, savy buyer. Maybe you never hear about these bargains because these properties sell as soon as they hit the market. The reason these properties go so quickly is that Realtors have "pre-approved, ready to buy clients" on standby. So when a bargain hits the market, they are on it ...sold!. Some of our listings don't even make it to MLS because our best deals are sent to our preferred customers first. If you would like to become a preferred customer and receive these notifications, just give us a call. All are welcomed!
|
-
Tanglewood, Houston - Announcing a price reduction on 700 Chimney Rock Rd, a 2,911 sq. ft., 3 bath, 4 bdrm single story. Now  MLS® $550,000 - . Property information
|
-
|
It's October, (as if you didn't know). Due to more government regulations, typical closings are taking from 30 to 45 days. So if you want to to take advantage of Uncle Sam's tax credit, you better hurry! Transactions must close and fund by the 30th of November. Let's get started now! Give us a call. We work with lenders who are aware of this timeline. We will guide you through each step of the way.....
|
-
Article from cnnmoney.com "Texas had the highest net migration in the country in 2008, according to the U.S. Census Bureau. As other states suffered through a falling economy last year, the Lone Star State experienced an influx of residents, thanks to relatively stable housing and employment markets. The population grew by 140,000 in 2008, after subtracting those leaving the state from those moving into it. The Census Bureau also reported that fewer residents were moving within their home states. The percentage of people who lived in different homes within the same state dropped to 12.6 percent during 2008. It was 12.8 percent in 2007 and 13 percent in 2005, when housing markets were hopping.
|
-
Local Market Monitor, which forecast the real estate market in the US, released its latest Home Price Forecast, covering well over 300 US local markets. The forecast, which predicts local market behavior over the next 12 months, identifies markets where home prices will continue to drop as well as stable markets with opportunities for growth. The Houston area is looking pretty good according to the press release. Texas has 4 areas that made the top 10 list for the best outlook. Dallas is #1, while Houston is actually #2 for the best performance outlook in the country. California and Florida dominate the top 10 list for the worst expected performance. Here is a copy of an excert of the press release: "According to the forecast, among the largest US markets—identified as those with populations greater than 600,000—the 10 markets with the best expected performance in home price are: Baton Rouge, LA
Buffalo-Niagara Falls, NY
Columbia, SC
Dallas-Plano-Irving, TX
Fort Worth-Arlington, TX
Houston-Sugar Land-Baytown, TX
Little Rock-North Little Rock-Conway, AR
Omaha-Council Bluffs, NE-IA
Pittsburgh, PA
San Antonio, TX
Syracuse, NY These top markets, where home values are expected to remain level, are among those markets that did not have a big housing boom and have had relatively small job losses over the past year. Home prices in these areas are generally below the US average and reflect where the recession has so far had a relatively mild impact. Dallas, San Antonio and Omaha have all experienced a 1.6 percent job loss over the past year, and jobs have actually increased in Baton Rouge. "While home building activity nationally is down 35 percent from last year, some of our top markets are doing relatively better,” said Ingo Winzer, president of Local Market Monitor. “Building permits were off only 20 percent in San Antonio and Omaha, and they were up 10 percent in Buffalo." The 10 largest markets with the worst expected performance in home price are: Fresno, CA
Las Vegas-Paradise, NV
Miami-Miami Beach-Kendall, FL
Orlando-Kissimmee, FL
Phoenix-Mesa-Scottsdale, AZ
Portland-Vancouver-Beaverton, OR-WA
Bakersfield, CA
Stockton, CA
Bradenton-Sarasota-Venice, FL
West Palm Beach-Boca Raton-Boynton Beach, FL and Fort Lauderdale-Pompano Beach-Deerfield Beach, FL These markets, which are expected to have the largest declines in home values over the next year, are also among those that previously had the biggest price booms. This was attributed in large part to speculative buying, including the repercussions of inflated housing construction on the local job market and investor portfolios. "Right now, a good market is still one where home prices aren't going down,” said Ingo Winzer. “However, this will change as the recession eases. Next year we'll see good price increases in many markets."
|
-
I like the way move.com puts it: "Pre-approval means you have met with a loan officer, your credit files have been reviewed and the loan officer believes you can readily qualify for a given loan amount with one or more specific mortgage programs. Based on this information, the lender will provide a pre approval letter, which shows your borrowing power. You can visit as many lenders as you like and get several pre-approvals, but keep in mind that each one carries with it a new credit check, which will show up on future credit reports. Although not a final loan commitment, the pre approval letter can be shown to listing brokers when bidding on a home. It demonstrates your financial strength and shows that you have the ability to go through with a purchase. This information is important to owners since they do not want to accept an offer that is likely to fail because financing cannot be obtained". We are very familiar with the process. When you are ready to buy, call us.
|
-
Picture this- a $1 dollar bill that is clean and one that is dirty, old and wrinkled. They are both worth exactly the same. Which one would you rather have? The clean, crisp $1 dollar bill, right? Same goes for your house when listing it. People want the staged house because it is presented well, it shows well, and it is much more appealing. We understand just how important home staging is. That's why we are accredited home stagers. We offer FREE home staging with all our listings.
|
-
|
Negotiating the sale. In Texas, buyers who have signed a Buyer Representative Agreement with a real estate agent, are represented by that agent. That agreement obligates the agent to work and negotiate in the buyer's best interest. When a seller has a signed listing agreement with a real estate agent, that particular agent works and negotiates in the seller's best interest. So if a buyer does not have an agent, the buyer is left to negotiate against the seller's agent, who is highly trained in negotiating skills. Typically, when a buyer is represented by an agent by way of a signed Buyer Representative Agreement, there is no fee to the buyer, unless stipulated differently in the agreement. I do not charge a fee to the buyers that I represent.
|
|
|
|