Texas is coming out of the Great Recession and leading the United States in the current U-shaped economic recovery, according to the Real Estate Center's latest monthly review of the Texas economy.
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The oil spill in the Gulf and statewide budget cuts are the two big unknowns making it difficult to project what will happen to the Texas economy in the coming months, according to a recent report made by Real Estate Center Research Economist Dr. Jim Gaines on the center's weekly "Real Estate Red Zone" podcast.
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Anatomy of Temptation: The cravings of the flesh, the lust of our eyes, the pride of self - these are the impulses and temptations that compete with the holiness of our God . . .
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In recent years, the average tax refund has totaled about $2,500. If you were fortunate enough to get back that much from the IRS, then consider investing your tax refund in your home. These five great projects cost around $2,500, and four of them are eligible for a federal energy tax credit.
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You just received a purchase offer from someone who wants to buy your home. You're excited and relieved, until you realize the purchase offer is much lower than your asking price. How should you respond? Set aside your emotions, focus on the facts, and prepare a counteroffer that keeps the buyers involved in the deal.
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Statistics reported mid-June by the Houston Association of Realtors illustrate a healthy level of real estate sales activity for the month of May 2010, buoyed largely by first-time buyers taking advantage of the federal tax credit of $8,000. While sales had to be executed by the end of April to take advantage of the credit, closings continued into May and June, and a small percentage will close thereafter.
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Q: The last time I moved was a stress-related nightmare. How can I make it easier this time?
If you've decided to make the Texas spring and summer months cooler by investing in an under-cabinet ice maker for extra cubes in your summer drinks, don't forget to give it a good annual maintenance before the hot months enter full swing.
In April 2010, the Environmental Protection Agency (EPA) announced that renovations and repairs of pre-1978 housing must now be conducted using safe practices to protect children and pregnant women from exposure to lead-based paint. Almost a million children have elevated blood lead levels as a result of exposure to lead hazards, which can lead to lower intelligence, learning disabilities, and behavior issues. Adults exposed to lead hazards can suffer from high blood pressure and headaches. Children under six years old are most at risk.
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As a buyer is moving toward a closing table, lenders will typically advise the buyer not to make any large purchases or changes to their financial picture that could jeopardize their ability to obtain final approval and funding for the completion of their mortgage and the purchase of their home. Many buyers who rush out to buy furniture or new cars in the days before closing find themselves unable to then close on the home, at all, as a result of the changes to their financial pictures.
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Home sales in Texas saw higher-than-usual activity in March, perhaps signaling that the traditional spring and summer selling season got under way early this year.
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The latest Texas Quarterly Housing Report shows statewide increases in both sales volume and price, fueled by a rare March boost. Texas sales volume for existing single-family homes was 42,682 for the first quarter of this year, up 4 percent from the first quarter of last year. The median home price in Texas jumped from $137,200 in first quarter 2009 to $141,500 in 2010, a 3.13 percent increase.
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According to a report released mid-May by the Houston Association of Realtors, sales of single-family homes across the greater Houston area rose for a second straight month in April, apparently buoyed by transactions incentivized by the federal government's homebuyer tax credit that expired on April 30. Prices of single-family homes also maintained their months-long appreciation.
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•The average price of a single-family home appreciated for a fifth straight month, by 12.3 percent, to $203,271;
•The median price of a single-family home rose for the tenth consecutive month, by 6.5 percent, to $147,000;
•6.3 months inventory of single-family homes compares favorably to the national average of 7.8 months;
•Townhouse/condominium sales rose 8.9 percent;
•Total dollar volume grew 5.1 percent, reaching $747 million.
Mark Fuller is a leading real estate professional specializing in Luxury Homes In Houston Texas.
The number of townhouses and condominiums that sold in February rose 8.9 percent compared to one year earlier.
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February sales of all single-family homes in Houston totaled 3,251, down 5.8 percent from February 2009. This is the Houston market’s third consecutive monthly decline in sales.
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The month of February brought Houston’s overall housing market mixed results when all listing categories are compared to February of 2009. Total property sales declined while total dollar volume and both median and average single-family home sales prices rose on a year-over-year basis.
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HOUSTON — (March 16, 2010) — The Houston real estate market completed the second month of 2010 showing continued vitality in home prices, thanks to robust sales activity in the upper housing segments. Overall February sales of single-family homes across the greater Houston area slid 5.8 percent compared to February 2009, according to the latest monthly data compiled by the Houston Association of REALTORS® (HAR). When broken out by segment, however, sales of single-family homes priced from $250,000 and above recorded double-digit gains. Sales of all property types declined 7.4 percent in February on a year-over-year basis.
Houston and the Dallas-Fort Worth area received the largest influx of residents in the country in 2009, according to the US Census Bureau.
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The Houston real estate market completed the second month of 2010 showing continued strength in home prices, thanks to robust sales activity in the upper housing segments.
Read all of Robust sales in Houston homes over $250k
