Houston Real Estate

Harris County Texas real estate.

Counties around Houston: Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery, San Jacinto, Waller.

Look at all Houston and the surrounding areas have to offer on the MLS. If you are willing to look at Janet Westlake's all encompassing database of homes in Houston, you will find your new home! If you want to find the most affordable or even the cheapest or the finest most expensive home in Houston, consult Janet's MLS page above. But rest assured, affordable homes are available in Houston, maybe the most affordable real estate in America and Janet Westlake knows where they are. Every home in the Houston area is on Janet Westlake's MLS pages so look for what you want, then give her a jingle. Click on Janet's "View the FULL MLS NOW" page link above. Looking for a foreclosure? They're up a startling 72% in October compared to October last year.

Houston is not feeling the significant slowdown as other large metropolitan areas such as Las Vegas, Miami and so many others, but inventory is down some at 6.1 months supply. It means a BUYERS MARKET is still in place with very low interest rates and a lot of homes for sale.

"The average price of a single-family home appreciated for the sixth straight month, reaching $212,403, up 10.2 percent versus March 2009. That represents the highest pricing level for a March in Houston. At $154,250, the March single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 6.4 percent from one year earlier. That represents the 11th consecutive monthly increase in median price and is the highest dollar figure for a March in Houston."

"Foreclosure property sales reported in the Multiple Listing Service (MLS) fell by 14.1 percent in March compared to one year earlier. The median price of March foreclosure sales rose 4.2 percent to $87,500 on a year-over-year basis."

"Sales of all property types in Houston for March totaled 5,758, up 14.5 percent compared to March 2009. Total dollar volume for properties sold during the month was $1.2 billion versus $938 million one year earlier, representing a 24.2 percent increase."

We thank the HAR for sharing this information with you. Click for more from the HAR."

Michael Reed of the West University Examiner says: "With the April 30 cutoff date for a federal home-buyer tax credit nearing, sales and median prices climbed during March throughout the Examiner areas and the city as a whole."

This is a little dated and we will find out the impact of the cutoff date having expired. The new numbers will be out soon so keep watching. It well may be time to look for your new dream home! "Local mortgage lenders I have spoken with estimate that between 50 to 65 percent of their recent business is related to the first-time homebuyer tax credit," said Margie Dorrance, HAR chair and principal at Keller Williams Realty Metropolitan. So the expiration of the tax credit may have a significant impact according to Ms. Dorrance.

"It was the third month in a row that upper-housing segments in particular showed growth in month-to-month comparisons with the previous year", according to new data from the Houston Association of Realtors.

“We are encouraged by steady home-buying activity in the higher-end, single-family segment,” said HAR Chairwoman Margie Dorrance. “We expect to see consumer interest extend to the other segments as the spring home-buying season heats up.”

Memorial led the continued growth in the Examiner area with the median sales price rising 25.9 percent from $426,250 to $549,250 in comparison with numbers from last year.

Bellaire ($251,500 vs. $285,000) and River Oaks ($477,500 vs. $539,750) recorded growth rates of 13.3 percent and 13 percent, respectively. West University Place remained almost unchanged ($685,000 vs. $672,500) with a decline of 1.8 percent.

Median prices for the entire Houston area rose 6.4 percent from $145,000 to $154,250.

The number of homes sold in the Examiner area increased an encouraging 20.9 percent over March sales from last year, HAR statistics showed.

River Oaks led the way in volume change with a whopping 72.7 percent (22 vs. 38 sales), while Memorial with a 48.7 percent increase recorded triple-digit sales with 110 closing, compared to 74 the previous year.

In West University Place sales rose 8.9 percent (45 vs. 49), while in Bellaire a decrease of 3.2 percent (63 vs. 61) was recorded.

OK ... we watch Houston real estate pretty closely here ... rates too. Last week we noticed in Houston for 30 year conventional mortgages there was a large range ... this week great rates in Houston for a $250,000 loan. Houston real estate is still and remains most affordable because the price of homes are relatively steady and interest rates are ... around 5% or lower! Too late to buy? Of course not ... too early to buy ... of course not. To buy or not depends on your needs and how well you shop around for what you want. Plenty people want to sell you their home at a price you want to pay.

Now that you've looked at a home you want to buy, (assume you looked on Janet's MLS, and you wrote down the address of that property!), you'll want to have a good idea of what the value of that home is, not just what the seller is asking. Is it worth the asking price? Well ... here's the way to find out ... A clever website to value that property!. This is a very cool tool that will help you get that warm and fuzzy feeling before plunking down megabucks for a dream. Is it perfect? NO! Is it a good way to give ballpark expectations? Absolutely!

Houses for sale, new homes, townhouses, condominium, patio, high-rise apartment, lofts and townhomes are being purchased, driving value up and inventory down. Houston real estate prices are higher than last year, primarily due to current interest rates, inventory, population changes and popularity. Since late February 2005, rates have fallen from 5.01% to about 4.875% today depending on your credit rating ... very affordable! That's a long time for rates to be so low. The rates are at near historic lows and they help us buy real estate. Why? Because if the home is bought at the right price, the notes can be low --- really low made by low interest rates. Low interest rates are not always the perfect answer to a good investment however. Price is very important to the point even a low interest rate can't help buy a home. If you're in a higher tax bracket, and given you have a set amount as a monthly payment, you'd rather have a low cost and high interest rate so you can write more off of your income taxes. Don't get the idea to shop for higher rates, you will find those. But if you are forced into higher rates, this is when the rate is going to help you write down some of those expenses on your taxes ... not everyone can do that! The write offs (tax deductions) will be good for more years than the average home is owned. Watch here to see how changes in interest rates affect Houston real estate prices. Look at the Chronicle for updates on local lenders too ... most still in the 5% range -- some have points to add to that. Check with these local lenders for current information.

Lots of new areas in Houston are being developed ... all the way out to Katy on the West side and nearly up to Conroe on the North. The NW is also being built out. The major builders, KB Homes, Beazer, Horton, Lennar are all building new subdivisions with sizes and prices that will likely please you. Give Janet Westlake a call. Janet reports today that the area around Conroe continues to be undervalued "and with fall upon us, there is no better place to be, whether it be a permanent home or somewhere to relax for the weekend and holidays".

Attention Houston First Time Buyers and Renters. Janet Westlake can help!

If you are renting, you realize you could pay the same or less for purchasing a house. It's everyone's dream - owing your own home and paying no more rent. But if you're like many renters, you may be trapped inside the apartment or rent house you call home. Changing anything in that dwelling is a hassle too, just one nail is a contract problem. You're stuck in renter rut with no way out; no way to own your own home. Don't be fooled, there is a way out! Lots of them. It doesn't matter how long you've been renting, or how bad your financial circumstances may or seem to be, here are some helpful hints that will assist you in getting over the hump, and transform your position as a renter to that of a homeowner. With information, you will begin to see how you really can:

• Save for a down payment,
• Stop lining your landlord's pockets, and
• Stop wasting thousands needlessly.

There are many federally funded programs that can help young buyers or buyers with credit problems -- like the First Time Buyers Program or the HUD programs that can grant you the down payment. GRANT -- that's no money payback. Many lenders have other programs that will assist you in getting the down payment too. Any agent can get that information to you so you can cut the chains that bind you to renting.

Buy a Home.

The ability to meet a monthly payment isn't generally the problem most renters face. You meet that every 30 days already! The problem is accumulating enough capital, "in pocket funds", to make a down payment on a real home. Maybe you've found that home for sale, then saving for these "pocket funds" isn't as difficult as you think. You have a goal and challenge that gives you reason to work at it.

Recently, lenders announced new and less stringent requirements to obtain a loan up to a million dollars. It applies specifically to borrowers with high credit scores. Lastly, the Feds just a few days ago indicated that Freddie Mac and Fannie Mae may be overloaded with mortgages and legislation might be used to reduce their participation. What does this mean to you? Mortgages may be more difficult to get in the future.

Houston Neighborhoods and Communities.

Thank you for your search in TheRealEstateOfAmerica.com for Houston Texas real estate. Contact one of the real estate agents above for access to the local MLS to find your dream home for sale.

---

Common Related Misspellings: Realestate, reel estate, Caldwell Banker, Weichart, Reichart, Century21, relator, Spacecity, Huoston