What do you get when you compare seasonal summer home buying in a single month to the same month a year earlier shortly after a home buyer tax credit expired? If it's July 2011 in Houston, Texas, it's a nearly 17 percent increase in home sales. Last year's third quarter slowdown in home sales continues to make this year's generally "typical" real estate activity appear slightly more positive than it otherwise would be considered. July marked the third time in 2011 that sales volume entered positive territory. It also saw the average price of a single-family home reach its highest level for a July in Houston. Continue reading ...

As you know the three rules of real estate are location, location, location - right? Well this is especially true in Houston. Because we are such a sprawling city with plenty of land to build on as you go outside the city. Many developers have done just that. The problem is, not all of these neighborhoods end up being a big success. What I mean by that is that there is not a sustained history of the re-sale homes appreciating in price and selling fairly quickly(liquidity) - these are the two main factors that indicate whether the public views an area as desirable or not. Continue reading ...

With the 82nd Texas Legislature coming to a close, the Texas Association of Realtors confirms the recent regular session was a legislative success for Texas homeowners. Continue reading ...

According to CNN.com's analysis of 2010 Census data, nine of the top 10 counties that closely mirror the racial and ethnic makeup of the US population are in Texas. Brazos County claimed the top spot out of every county in the country, followed by Lee County, Galveston County, Colorado County, Wilbarger County, Austin County, Ellis County, Milam County, and Williamson County. Continue reading ...

Houston home sales rose for the second time this year in June, with the average price reaching an all-time high and the median price achieving the highest level in nearly two years. The sales increase reflects the slowdown in home purchases that set in a year ago following expiration of the home buyer tax credit. The credit triggered a surge in home buying during the spring of 2010 that resulted in slower sales volume during the remainder of that year. Continue reading ...

Insurance experts are warning people in areas burned by wildfires to prepare for the second disaster — flows of black water full of ash and debris that will flood these areas when the summer rains come. There is an urgency for buying flood insurance. There is a 30-day waiting period before a new flood insurance policy takes effect, and the summer rains typically begin in the first week of July. Continue reading ...

The 2010 home buyer tax credit continues to obscure an accurate gauge of how the Houston real estate market is performing. The 2010 federal incentive triggered a short-term surge in local home sales last spring that has skewed the year-over-year analysis most of this year. Continue reading ...

The boost that the federal home buyer tax credit gave the Houston housing market in April 2010 continues to overshadow local home sales one year later. Sales of homes declined in April 2011 along with average and median prices, however volume rose among rental properties. Continue reading ...

Q: In a down economy, can't we all save money by renting instead of buying property Continue reading ...

An increasing number of Americans are opting to buy smaller homes or even rent, experts say, as uncertainty about the struggling housing market, energy prices, and a lackluster domestic economy persists. Continue reading ...

The Texas seasonally adjusted unemployment rate for February is 8.2 percent, down from 8.3 percent in January, and well below the United States unemployment rate for February of 8.9 percent. Texas total nonfarm employment jumped 22,700 jobs in February, for a total gain of 254,200 jobs from a year ago. Continue reading ...

Note: the following is an excerpt from an opinion piece printed by the Wall Street Journal in February 2011 It's enough to make you believe in miracles: The Obama Administration is now on record as saying that Fannie Mae and Freddie Mac should go out of business. It took a global financial panic and $140 billion in taxpayer losses, but on Friday there it was in black-and-white in the US Treasury's report to Congress on reforming the mortgage market: The Administration will "ultimately . . . wind down both institutions." Continue reading ...

Texas' property tax burden is legendary. Citizens from other states often point to the crushing levy as a deal killer when considering a move here. Continue reading ...

Data released late September by the Texas Multiple Listing Services (MLS) show existing home sales and dollar volume up while average and median prices fell for the month. Continue reading ...

Texas economy gained 133,100 jobs from August 2009 to August 2010, an annual growth rate of 1.3 percent. During the same period, the U.S. economy added 278,000 jobs, an annual growth rate of 0.2 percent. The state's private sector posted an annual employment growth rate of 1.4 compared with 0.3 percent for the United States. Continue reading ...

Texas' economic recovery is strengthening, according to the latest monthly economic review from the Real Estate Center at Texas A&M University. Continue reading ...

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. Continue reading ...

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. Continue reading ...

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. Continue reading ...

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. Continue reading ...

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. Continue reading ...

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. Continue reading ...

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. Continue reading ...

Houston and the Dallas-Fort Worth area received the largest influx of residents in the country in 2009, according to the US Census Bureau. Continue reading ...

Under the Extended Home Buyer Tax Credit, which became effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000 — are able to receive the maximum tax credits of $8,000 for first time buyers and $6,500 for repeat buyers. Continue reading ...

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. Continue reading ...

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. Continue reading ...

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. Continue reading ...

Seasonal summer home buying and continued activity among first-time homebuyers translated to a significant improvement in single-family home sales across greater Houston in July, with the highest volume since July 2008 and the second highest median price in history. Continue reading ...

Declines in the sales and pricing of homes throughout the greater Houston area eased in March, according to new monthly data released late April by the Houston Association of Realtors. Overall March property sales fell 18.9 percent and sales of single-family homes dropped 16.1 percent versus March 2008. From February to March of this year, however, overall property sales volume increased 26.1 percent while sales of single-family home rose 27.8 percent as the spring began, a period that traditionally produces higher sales volume than the fall and winter months. At $145,000, the March single-family home median price – the figure at which half of the homes sold for more and half sold for less – fell 4.4 percent year-over-year, but still attained its highest level of 2009. When foreclosures are removed from the analysis, the median price of traditional single-family homes was flat at $168,000. The average price of a single-family home in Houston dropped 6.0 percent last month to $193,880 compared to March 2008. The median and average price declines mark the smallest drop since levels first turned negative last October. Continue reading ...