|
|
-
Is it a Buyers Market or a Sellers Market??? It is all about Supply and Demand. The number of homes currently on the market compared to how many homes sold last month or year in your market. If there are currently 10 homes for sale in your neighborhood and last year 20 sold, then you could say you expect to sell your home in 6 months. Of course if it is staged and priced well. We all know around here that the Houston market has definitely weathered the storm better than the rest of the United States but the US is turing things around. Lets look at new home sales... Last year there were roughly 428,000 new homes sold. Currently there are 239,000 for sale. At current sales pace that is only a supply of 6.7 months! 239,000 new homes for sale is the lowest number in nearly 4 decades! This is great news for those who currently are looking to sell as well. Fewer new homes in inventory increases the value of existing homes! So what does this mean? It means people are either going to stop living in houses, or new home builders have to start building again to equalize supply and demand!
|
-
Recently, the U.S. Senate and House passed legislation that included an extension and expansion of the tax credit for homebuyers. President Obama signed the bill into law. Here are some of the key points... - The $8,000 first-time homebuyer tax credit will continue until April 30, 2010, and the income limits have been increased to $125,000 for single filers and $225,000 for join filers.
- Additionally, current homeowners who have lived in their home for five of the previous eight years are eligible for a $6,500 tax credit.
- There is a purchase price limit of $800,000 for the home, and it must be maintained as the purchaser’s primary residence for three years or the tax credit will be due back to the IRS.
- Unlike the current tax credit program, the extended program allows any purchaser who has a binding contract in place by April 30, 2010 to close by June 30, 2010 and still qualify.
If moving is in your future then hopefully this tax credit will help! Feel free to call Lisa or Nick with any further questions you might have at 281-814-1294.
|
-
Houston Real Estate Market Enjoys Second Consecutive Month of Positive Sales Volume and Pricing in October | Comparison to hurricane-battered market and 2009 homebuyer tax credit are factors | | | HOUSTON — (November 19, 2009) — The lingering effects of Hurricane Ike back in October 2008 combined with recent homebuying activity spurred by the federal government’s $8,000 first-time homebuyer tax credit produced positive numbers for the Houston real estate market in October.
For the second month in a row, both property sales volume and pricing recorded gains. According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), October volume of single-family home sales across the greater Houston area rose 13.8 percent compared to October 2008. Total property sales climbed 14.1 percent in October on a year-over-year basis.
At $149,000, the October single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 5.0 percent from one year earlier, representing the sixth straight monthly increase in median price. The average price of a single-family home in Houston was $198,639, up 3.2 percent last month versus October 2008. Both figures reached the highest levels ever for a month of October in Houston.
Foreclosure property sales were flat month-over-month in October, making up 18.6 percent of all single-family home sales in the Houston area, but down compared to 25.8 percent in October 2008 and the 12-month peak of 34.0 percent in January of this year. The median price of October foreclosure sales reported in the Multiple Listing Service (MLS) rose 3.8 percent to $88,293 on a year-over-year basis.
Sales of all property types in Houston for August totaled 5,716, up 14.1 percent compared to October 2008. Total dollar volume for properties sold during the month was $1.0 billion versus $942 million one year earlier, representing an increase of 15.9 percent.
“Hurricane Ike had a lasting effect on the greater Houston real estate market last fall, so it’s no surprise to have the kind of year-over-year improvement we’ve now seen for two months in a row,” said Vicki Fullerton, HAR chair and broker of record at RE/MAX of The Woodlands & Spring. “Many Houston REALTORS® have reported that the first-time homebuyer tax credit was extremely effective at drawing consumers to the marketplace, and we believe momentum will build with the federal government’s extended and expanded incentive program.”
October Monthly Market Comparison
The month of October brought Houston’s overall housing market positive results when all listing categories are compared to October of 2008. Total property sales, total dollar volume and both median and average single-family home sales prices were all up on a year-over-year basis.
The number of available properties, or active listings, at the end of October fell 7.3 percent from October 2008 to 45,424. That housing inventory represents 96 fewer active listings than one month earlier, in September 2009.
October’s month-end pending sales—those listings expected to close within the next 30 days—totaled 3,673, which was 2.6 percent higher than last year. An increase typically signals that the next month’s sales will improve further, however because this data compares to a period in which Hurricane Ike interrupted many local real estate transactions, that signal is unclear. The months inventory of single-family homes for October came in at 6.1 months, down from 6.3 months one year earlier, and remains healthier than the national months inventory of single-family homes of 7.8 months, reported by the National Association of REALTORS® (NAR).
|
|
-
Bay Colony Pointe, Dickinson - Announcing a price reduction on 3102 Colony Drive, a 2,328 sq. ft., 3 bath, 4 bdrm single story. Now  MLS® $144,900 - Under Market Value !. Property information
|
-
So you have heard about the $8,000 First time homebuyer credit, well now senators have agreed to extend the $8,000 credit originally set to end on November 30! Once the Official vote on the bill takes place, it will go to the House of Representatives, which strongly supports the extension. There has been signals of strong support from the Obama administration as well. Here is the good news for those who do not qualify as first time home buyers, the new plan would offer a $6,500 credit for repeat or move-up homebuyers who have lived in their primary residence for five years or more! The tax credits would be available to buyers who sign purchase agreements on a new or existing primary residence between December 1, 2009 and April 30, 2010. Buyers would have until June 30 to close on their new homes. There are some stipulations though, there is a $800,000 Home Purchase Limit, and income limits for all buyers would rise to $125,000 per year for individuals and $225,000 for married couples. Under the current program, the limits are $75,000 and $150,000. The first-time homebuyer credit is also available to those who have not owned a home in the previous three years. The credit does not have to be repaid unless the home is sold or ceases to be the primary residence within three years. Per the Treasury Department, 13.6 Billion dollars have been allocated for this program and more than 1.2 million buyers have already taken advantage by using 8.5 billion so far. THIS LEGISLATION HAS NOT YET PASSED, and please do not take this as tax or legal advice, but I will be sure to keep you informed as it moves through Congress toward approval. We are here for all your real estate needs, call Lisa or Nick today should a buy or sale be in your future!
|
-
Houston Property Sales Show Expected Strength in September Compared to the Month of Hurricane Ike | Year-over-year single-family home sales soar 32 percent and median price edges up further | | | HOUSTON — (October 20, 2009) — Hurricane Ike sidelined Houston’s real estate business for several weeks after tearing through the region in September 2008, so it comes as no surprise that property sales one year later surged into positive territory.
According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), September volume of single-family home sales across the greater Houston area rose 32.0 percent compared to September 2008. Total property sales climbed 30.4 percent in September on a year-over-year basis. The increases come on the heels of gradual improvements to the local housing market resulting from an influx of first-time home buyers who have taken advantage of the federal government’s $8,000 tax credit that expires at midnight on November 30.
At $156,200, the September single-family home median price—the figure at which half of the homes sold for more and half sold for less—edged up 0.2 percent from one year earlier, representing the fifth straight monthly increase in median price. The average price of a single-family home in Houston dipped 1.6 percent last month to $205,925 compared to September 2008.
Foreclosure property sales continued to slow in September, making up 18.6 percent of all single-family home sales in the Houston area compared to 19.3 percent in September 2008 and the 12-month peak of 34.0 percent in January of this year. The median price of September foreclosure sales reported in the Multiple Listing Service (MLS) declined 1.0 percent from $88,950 to $88,000 on a year-over-year basis.
Sales of all property types in Houston for August totaled 5,654, up 30.4 percent compared to September 2008. Total dollar volume for properties sold during the month was $1.1 billion versus $877 million one year earlier, representing an increase of 25.7 percent.
“It is wonderful to see such a positive monthly report for the Houston real estate market, but stacking these numbers up against a month in which Hurricane Ike devastated the local real estate industry and many other businesses is a bit unfair,” said Vicki Fullerton, HAR chair and broker of record at RE/MAX of The Woodlands & Spring. “Nonetheless, we had recently begun to see indicators suggesting that we are working our way out of the market downturn and we expect to see continued improvement.”
September Monthly Market Comparison
The month of September brought Houston’s overall housing market positive results when all listing categories are compared to September of 2008. Total property sales, total dollar volume and median single-family home sales prices were all up on a year-over-year basis while average single-family home sales prices dipped.
The number of available properties, or active listings, at the end of September fell 9.2 percent from September 2008 to 45,520. That is 503 less active listings than one month earlier, in August 2009, and considered an indicator of balanced housing inventory levels.
September’s month-end pending sales—those listings expected to close within the next 30 days—totaled 3,650, which was 41.3 percent higher than last year. Because this compares to the month in which Hurricane Ike interrupted many Houston real estate transactions, it’s hard to determine if this figure portends improving sales for October. The months inventory of single-family homes for September came in at 6.2 months, down from 6.4 months one year earlier, and remains healthier than the national months inventory of single-family homes of 8.5 months, reported by the National Association of REALTORS®.
|
|
-
Better than New !
• 2,504 sq. ft., 3 bath, 4 bdrm 2 story - $151,000 Bay Colony Pointe, Dickinson - Better than new Lennar Del-Sol built in 2006! This 4 bedroom and 2 1/2 bath home appears to be brand new! This open floorplan has the master suite downstairs with a huge master bath and enormous closet!
This home features over 2500 sq feet of space on a great cul-de-sac lot! Located in bay colony, this home is close to dining, shopping, entertainment and I-45!
Schedule your private tour today! Property information
|
-
Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5. Lawrence Yun, NAR chief economist, said not all contracts are turning into closed sales within an expected timeframe. “The rise in pending home sales shows buyers are returning to the market and signing contracts, but deals are not necessarily closing because of long delays related to short sales, and issues regarding complex new appraisal rules,” he said. “No doubt many first-time buyers are rushing to beat the deadline for the $8,000 tax credit, which expires at the end of next month
|
-
-
Come and Join Us at Bay Colony Elementary School on Tuesday October 6th from 6-9 pm. Food, Games, Moonwalks, and door prizes! Fun for the whole family! What a great time to meet some of your neighbors! Have a question about buying, selling, or any of the homes currently for sale? Stop by and see Lisa and Nick Boland! Hope to see you there!
|
-
Seasonal Summer Home Shopping, First-Time Home Buyers Buoy Houston Real Estate Market in August |
| | | The Houston real estate market showed continued signs in August of attempting to break free from the downward trend in property sales that first began in September 2007.
Boosted by seasonal summer home buying, including an influx of first-time home buyers taking advantage of the federal government’s soon-to-expire $8,000 tax credit, the August volume of single-family home sales across the greater Houston area slid 10.1 percent compared to August 2008, according to new monthly data compiled by the Houston Association of REALTORS® (HAR). That follows July’s 6.1 percent (corrected) drop, which was the smallest decline since the market downturn began in September 2007. Total property sales tumbled 11.0 percent in August on a year-over-year basis following last month’s 5.1 percent drop, which was the smallest rate of decline since November 2007 when it was off by 10.2 percent.
At $160,880, the August single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 0.6 percent from one year earlier to the third highest level of 2009. That’s the fourth straight monthly increase in the median price. The average price of a single-family home in Houston dipped 4.2 percent last month to $213,396 compared to August 2008. That represents the third highest average price of the year.
Foreclosure property sales slowed again in August, making up 16.7 percent of all single-family home sales in the Houston area compared to 18.3 percent in August 2008 and the 12-month peak of 34.0 percent in January of this year. The median price of August foreclosure sales reported in the Multiple Listing Service (MLS) declined 7.5 percent from $93,000 to $86,000 on a year-over-year basis.
Sales of all property types in Houston for August totaled 5,904, off 11.0 percent compared to August 2008. Total dollar volume for properties sold during the month was $1.0 billion versus $1.2 billion one year earlier, representing a decline of 13.9 percent.
“We knew going in that recovery would be a gradual process, however overall indications continue to show the Houston real estate market on strong footing, particularly when it comes to price appreciation,” said Vicki Fullerton, HAR chair and broker of record at RE/MAX of The Woodlands & Spring. “Our REALTOR® members report that many first-time homebuyers have been taking advantage of the $8,000 tax credit, but time is running out with that incentive set to expire on November 30.”
August Monthly Market Comparison
The month of August brought Houston’s overall housing mostly negative results when all listing categories are compared to August of 2008. Total property sales, total dollar volume and average single-family home sales prices were down on a year-over-year basis while median single-family home sales prices rose slightly.
The number of available properties, or active listings, at the end of August fell 12.9 percent from August 2008 to 46,023. That is 575 less active listings than one month earlier, in July 2009, and considered an indicator of balanced housing inventory levels.
Month-end pending sales—those listings expected to close within the next 30 days—totaled 3,901, which was 9.3 percent lower than last year. While that most likely means sales will be down again in September, the effects of Hurricane Ike on the local real estate business one year ago make it difficult to forecast. The month’s inventory of single-family homes for August came in at 6.5 months, down from 6.7 months one year earlier, and remains much healthier than the national month’s inventory of single-family homes of 9.4 months, reported by the National Association of REALTORS® (NAR).
|
|
-
• 2,013 sq. ft., 2 bath, 3 bdrm single story - MLS® $153,900 - Stunning ! Bay Colony Pointe, Dickinson - There is plenty of room to stretch in this awesome 3 bedroom with study. This floor plan is bright and very open.The home features 3 spacious bedrooms with plenty of closet space, a large study, stately dining rm, oversized living rm and spectacular lush backyard space with a paver patio & arbor.Enjoy the convenience of 6 Ethernet connections in the home and spice up your entertaining in the huge kitchen with ceramic tile flooring & backsplash. Call today to view! Property information
|
-
Bay Colony Pointe, Dickinson - Announcing a price reduction on 317 Grand Isle Lane, a 2,013 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $153,900 - Stunning !. Property information
|
-
Bay Colony Pointe, Dickinson - Announcing a rent/lease reduction on 6717 hidden colony, a 1,723 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $1,400 Monthly - . Property information
|
-
• 2,197 sq. ft., 3 bath, 4 bdrm 2 story -  MLS® $162,900 Bay Colony Pointe, Dickinson - SEE THIS ONE FIRST! This is a Favorite floorplan by Lennar The Hartford,which is both open and spacious. The home features 4 bedrooms with the master on the first floor, 2.5 baths and upstairs game room. The home also features a large open tiled kitchen complete with breakfast room and breakfast bar, an inviting whirlpool tub in the master,a pool sized yard with a wonderful covered patio perfect for BBQs and much more. Don't forget your rocking chair for the front porch.
Located in Bay Colony this home is close to it all! Dining, shopping, entertainment and I-45 are just moments away! Schedule your showing today! Property information
|
|
|
|