Expert says Texas economy stabilizing
At the recent Bryan-College Station Chamber of Commerce 2010 Economic Outlook Conference, state Commissioner of Agriculture Todd Staples reported that that the state's economy is stabilizing.Read all of Expert says Texas economy stabilizing
Houston housing market sees strong price appreciation in December
The Houston real estate market closed out 2009 with a more realistic snapshot of local conditions, ending three months of sales readings that appeared high when compared to the fall of 2008 due to Hurricane Ike's crippling effects on housing back then.Read all of Houston housing market sees strong price appreciation in December
Lease Property Update and Houston Real Estate Milestones in December
Demand for single-family home rentals rose 3.1 percent in December compared to a year earlier. Year-over-year townhouse/condominium rentals climbed 4.7 percent.
To reach Mark Fuller and the Fuller Team and find out about the market in Houston click here and for A great website to view Luxury Homes in Houston Texas !!
See below for the milestones reached in December:
The median price of a single-family home rose for the eighth consecutive month, by 5.2 percent, to $152,550;
The average price of a single-family home appreciated for a third straight month, by 15.1 percent, to $219,214, the second highest level of 2009 and the highest for a December in Houston;
5.8 months inventory of single-family homes compares favorably to the national average of 6.5 months;
Townhouse/condominium sales rose 11.7 percent;
Total dollar volume grew 12.9 percent, reaching $1.1 billion.
Mark Fuller is a leading real estate professional specializing in Luxury Homes In Houston Texas.
Townhouse/Condo Update
The number of townhouses and condominiums that sold in December rose 11.7 percent compared to one year earlier. In the greater Houston area, 429 units were sold last month versus 384 properties in December 2008.Read all of Townhouse/Condo Update
Single-Family Homes Update
At $152,550, the median sales price for single-family homes rose for the eighth consecutive month, up 5.2 percent from December 2008. The national single-family median price reported by NAR is $171,900, illustrating the continued higher value and lower cost of living that consumers enjoy in the Houston market.Read all of Single-Family Homes Update
December Monthly Market Comparison
The month of December brought Houston’s overall housing market mixed results when all listing categories are compared to December of 2008. Total property sales were flat while total dollar volume and both median and average single-family home sales prices climbed on a year-over-year basis.Read all of December Monthly Market Comparison
2009 Annual Market Comparison
The Houston housing market concluded calendar year 2009 on sturdier ground than 2008, with only a slight decline in property sales and pricing that was generally flat.Read all of 2009 Annual Market Comparison
Houston Housing Market Sees Strong Price Appreciation in December
The Houston real estate market closed out 2009 with a more realistic snapshot of local conditions, ending three months of sales readings that appeared high when compared to the fall of 2008 due to Hurricane Ike’s crippling effects on housing back then. According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), December volume of single-family home sales across the greater Houston area dipped 2.1 percent compared to December 2008. That represents the first decline since last August. Total December property sales were flat on a year-over-year basis.Read all of Houston Housing Market Sees Strong Price Appreciation in December
Protecting Your Investment - Homestead exemption scams
All Texas homeowners qualify for a homestead exemption on their principal residence. This exemption reduces the taxable value of a home—meaning a lower annual bill to local taxing entities. You must apply for the exemption, but there is no fee associated with applying for a homestead exemption.Read all of Protecting Your Investment - Homestead exemption scams
$6,500 Tax Credit If You Change Homes by April 30 (or $8K if First Time)
As part of its plan to stimulate the US housing market and address the economic challenges facing our nation, Congress has passed new legislation that: • Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010. • Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010. Details about the Extended Home Buyer Tax Credit are listed below. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.Read all of $6,500 Tax Credit If You Change Homes by April 30 (or $8K if First Time)
Top six trends in new home building
According to the Greater Houston Builders' Association, six specific trends are emerging in the latest new homes:Read all of Top six trends in new home building
Houston's housing market activity back on par with fall 2007
The effects of Hurricane Ike and simultaneous economic downturn affecting Houston's real estate market in November 2008 continue to distort year-over-year comparisons which reflect yet another month of double-digit increases. However, longer-term analysis aimed at gleaning a more realistic view of market conditions shows November 2009 real estate activity to be comparable to that seen at the cusp of the recession, in the fall of 2007.Read all of Houston's housing market activity back on par with fall 2007
Forbes names Texas metros among fastest recovering cities
Texas' four major metros are in the top ten fastest-recovering cities nationwide, according to Forbes magazine. Forbes ranked San Antonio the second fastest recovering city in the country, Austin the third, Dallas–Fort Worth–Arlington the sixth and Houston–Sugar Land–Baytown the eighth.Read all of Forbes names Texas metros among fastest recovering cities
Texas cities among best places to retire
In a study by Forbes Magazine, four cities in Texas were among the top recession-proof cities in the nation to retire (America's Recession-Proof Cities to Retire In, by Zack O'Malley Greenburg, Forbes Magazine, Oct. 15, 2009).Read all of Texas cities among best places to retire
$6500 repeat buyer IRS credit added, $8000 first time buyer credit extended
In recent weeks, the federal government moved to extend the deadline for the $8,000 credit to first-time homebuyers, and simultaneously introduced a new $6,500 credit for repeat homebuyers. Both credits have cash value and represent checks made payable to consumers from the IRS in the form of a tax return. Here are the details:Read all of $6500 repeat buyer IRS credit added, $8000 first time buyer credit extended
Interest Rates have Hit an All Time Low - Houston Luxury Home Expert Speaks out on Interest Rates
In case you haven't caught the news, home loan rates have done it again, dropping to their lowest level...ever. Not only has the 30 Year Fixed rate returned to its lowest all time level, rates across the board are at their lowest levels. Yes, that means, go ahead and choose your flavor – 30 Fixed, 15 Fixed, 5/1 ARM or 1/1 ARM – all loan types hit their lowest levels of the year! For the weekly Freddie Mac survey of all lenders, this is the first time that all have been at their lowest level. You must understand, though, that rates are artificially low! Last November, Ben Bernanke and the Fed put into place a program to lower rates. That program though is nearing its end, as the Federal Reserve has purchased over $1 Trillion of mortgage backed securities this year and with less than 20% of allocated funds left in the program, rates are sure to increase. The only questions remaining are by how much and when.Houston Real Estate Milestones in July
1. At $163,000, the median price of a single-family home was the second highest of all time;
2. Sales of single-family homes priced between $150,000 and $250,000—the second busiest segment of the housing market—rose 1.2 percent;
3. Volume of single-family home sales reached the highest level since July 2008;
4. Volume of single-family home sales reached the highest level since August 2008;
5. Month’s inventory of single-family homes dipped from 6.7 to 6.5 months compared to the national average of 9.4 months;
6. Active listings fell 13.4 percent, representing a generally balanced supply of housing inventory.
Townhouse/Condo Update
The number of townhouses and condominiums sold in July fell compared to one year earlier. In the greater Houston area, 550 units were sold last month over 586 properties in July 2008, giving to a 6.1 percent decrease in year-over-year sales. However, that still depicts the highest sales volume since August 2008.Read all of Townhouse/Condo Update
Single-Family Homes Update
At $163,000, the median sales price for single-family homes reached the second highest level ever, up 1.5 percent from July 2008, when it was $160,550. The national single-family median price reported by NAR is $181,600, representing the continued higher value and lower cost of living that the Houston market offers consumers. The average price of single-family homes in July was $220,030, sliding 1.8 percent from one year earlier.Read all of Single-Family Homes Update
July Monthly Market Comparison
The month of July brought Houston’s overall housing market mixed results when all listing categories are compared to July 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 to the second highest level ever.Read all of July Monthly Market Comparison
