Posted on Mon, Mar 08, 2010
RISMedia reports:
"For the second month in a row, home buyers across much of the country negotiated bigger discounts off the last listing price of homes than they had the prior month, according to new data from real estate website Zillow.com.
When asked about Houston home values, 36% of investors believe values have already hit a bottom and will be flat or up in 2010. Fifty percent believe home values will hit a bottom sometime in 2010, and 13% believe home values will decline beyond 2010.
Fifty-six percent of investors surveyed indicated an overall optimistic outlook for the year, with 5% of investors rating themselves as highly optimistic. In comparison, 2% feel highly pessimistic, with an overall 20% indicating a negative view on the market. Twenty-five percent of investors surveyed had a neutral outlook for 2010."
Read the full article at RISMedia.
Posted on Mon, Mar 08, 2010
RISMedia Reports:
"A smaller percentage of mortgages were delinquent and the rate of those entering the foreclosure process slowed in the fourth quarter of 2009, possible signs that the foreclosure crisis that has gripped many of the nation’s housing markets is finally starting to ease, a trade group has reported."
“We are likely seeing the beginning of the end of the unprecedented wave of mortgage delinquencies and foreclosures that started with the subprime defaults in early 2007,” said Jay Brinkmann, chief economist of the Mortgage Bankers Association, in a written statement."
Read the full article at RISMedia.
Posted on Fri, Feb 19, 2010
Check out the new houses in the February Houston Home Showcase. For further information you can look at all of
our listings in the Memorial Town and Country area.Don't forget to also chek out
our home finder!
Posted on Thu, Feb 11, 2010
Just over 40% of available homes for sale had reduced prices in January 2010, compared with 44% in December 2009, according to a monthly survey of home listings in 27 markets.
With fewer reduced price homes available in January, sellers were able to ask for their original list prices, rather than cut them to attract buyers.
"Sellers are taking a realistic look at current market conditions before listing their homes," said Pat Lashinsky. "We have a lot fewer homes for sale right now than we did last year, and we are seeing more sellers sticking to their original list prices, rather than cutting them to try to attract buyers."
Results of the survey include:
- January was the fifth consecutive month of fewer priced reduced homes on the market, with sellers reducing list prices by $21,925 on average across 27 markets
- Homeowners in San Diego reduced prices by the highest dollar amount, cutting an average of $44,901
- Homeowners in Houston reduced prices by the lowest dollar amount, cutting an average of $10,000
- Markets with the lowest percentage of price-reduced MLS-listed homes were Los Angeles and San Diego (both at 32.6%), San Francisco (31.9%), and Denver (29.5%)
- One out of every two home listings in Jacksonville (49.9%) and Phoenix (48.8%) had cut their list prices, the highest percentage in the survey
Source
Posted on Mon, Feb 08, 2010
MyHouseDeals.com surveyed residential real estate investors in the Houston area about the current investing climate and outlook for the real estate market in 2010. According to the survey, Houston investors have a positive overall outlook on the market. Seventy-seven percent of the 122 investors surveyed believe now is a good time to invest in Houston real estate, while 23% of them are neutral. Only 3% of investors surveyed believe now is not a good time to invest.
When asked about Houston home values, 36% of investors believe values have already hit a bottom and will be flat or up in 2010. Fifty percent believe home values will hit a bottom sometime in 2010, and 13% believe home values will decline beyond 2010.
Fifty-six percent of investors surveyed indicated an overall optimistic outlook for the year, with 5% of investors rating themselves as highly optimistic. In comparison, 2% feel highly pessimistic, with an overall 20% indicating a negative view on the market. Twenty-five percent of investors surveyed had a neutral outlook for 2010.
When asked about their feelings regarding the Houston market for the next five years, the percentage of investors who are optimistic jumped to 81% (56% rated themselves optimistic while 25% indicated they feel highly optimistic). Fourteen percent of investors feel neutral and only 5% feel pessimistic.
Investors were also asked if the housing crisis was good or bad for the Houston housing market in the long run. Thirty-eight percent of investors believe the crisis will have an overall positive long-term effect in the housing market, while 28% think the housing crisis was bad for the future of Houston real estate. Thirty-four percent of the surveyed investors were neutral on the subject.
Of those surveyed, 74% were experienced investors who have owned or wholesaled at least two investment properties. The majority of respondents, 66%, invest part time.
Source
Posted on Thu, Feb 04, 2010
This past November Congress extended the benefits for first time buyers, all you have to do is buy your house before April 30th and you could be eligible for up to $8,000 back from the government.
If you're a current homeowner who is looking to trade up or down you could be eligible for up to $6,500 back.
Below are the monthly housing trends update that includes national and regional real estate trends.
Posted on Mon, Jan 25, 2010
RISMedia reports:
"Americans want smaller houses and they are willing to strip some of yesterday's most popular rooms-such as home theaters-from them in order to accommodate changing lifestyles, consumer experts told audiences at the International Builders Show."
So, here are the top 10 must-have features in today's new homes:
1. Large kitchens, with an island.
2. Granite countertops
3. Energy-efficient appliances
4. Home office/study.
5. Main-floor master suite.
6. Outdoor living room.
7. Master suite soaker tubs.
8. Stone and brick exteriors.
9. Community landscaping
10. Two-car garages.
Read the full article at RISMedia.
Posted on Mon, Jan 25, 2010
Residents at a southwest Houston apartment complex are alarmed about mold that appears to be growing inside their units.
"We've got mold coming out of our vents and it's making us sick," said Arthur Tillman, a resident at the Sovereign Townhomes in the 9800 block of United Drive.
Tillman pointed to what looked like mold on his bedroom carpet and part of the ceiling. He said his wife has had trouble breathing.
"Nobody should have to live like this," he said.
One of Tillman's neighbors has actually been hospitalized due to breathing problems that she also blames on mold.
Read the full article at KHOU.com. If you're concerned about the quality of your apartment living, you may want to consider buying a home. Contact the Home Coach Team for help with your new home search..
Posted on Sun, Jan 24, 2010
RISMedia reports:
MyHouseDeals.com surveyed residential real estate investors in the Houston area about the current investing climate and outlook for the real estate market in 2010. According to the survey, Houston investors have a positive overall outlook on the market. Seventy-seven percent of the 122 investors surveyed believe now is a good time to invest in Houston real estate, while 23% of them are neutral. Only 3% of investors surveyed believe now is not a good time to invest.
When asked about Houston home values, 36% of investors believe values have already hit a bottom and will be flat or up in 2010. Fifty percent believe home values will hit a bottom sometime in 2010, and 13% believe home values will decline beyond 2010.
Fifty-six percent of investors surveyed indicated an overall optimistic outlook for the year, with 5% of investors rating themselves as highly optimistic. In comparison, 2% feel highly pessimistic, with an overall 20% indicating a negative view on the market. Twenty-five percent of investors surveyed had a neutral outlook for 2010.
Read the full article on RISMedia.com.
Posted on Thu, Jan 14, 2010
Allison Wollam at the Houston Business Journal reports:
The extension of the home-buyer tax credit and housing affordability is expected to improve the local housing market this year, but one local expert predicts that 2010 will be a holding-pattern year rather than a rebound year in the Houston market.
Mike Inselmann, president of Houston-based research firm Metrostudy, spoke at the Greater Houston Builders Association Forecast Luncheon on Monday and told the group that although credit is still tough to obtain, there are reasons to be optimistic about the housing market in 2010.
Inselmann said that publicly-held builders exhibit the most optimism as the year begins and are beginning the year aggressively.
He added that most industry observers expect the current low mortgage interest rates to rise later in the year because the Federal Reserve has stated its intent to cease buying mortgages in April.
Inselmann predicted an increase in additivity in the first half of 2010 as big builders are expected to test the market to see if it will support their strategy of putting speculative inventory into the market and betting on the continued success of the home-buyer credit.
He said Houston likely passed the low point in the housing cycle in the early months of 2009.
Builders started roughly 18,000 homes in 2009 and will close 21,000 sales and reduce inventory once again by 3,000 homes. Builder inventory of homes under construction has dropped from 18,000 to below 6,000 since mid-2006.
Read the full article here.