Voters approve $2.7 billion in bond propositions – By Ericka Mellon November 7, 2012
Houstonians can look forward to a transformed city with new and improved parks, school buildings, fire stations, libraries and job training sites as voters approved a historic $2.7 billion package of bonds Tuesday.
The money will fund construction projects in the city, the Houston Independent School District and Houston Community College.
Despite early predictions of sticker shock, the bond measures drew strong support from voters. The upgrades for HISD and HCC come with property tax increases, expected to start in 2014.
“All of these bond issues sought money to build Houston’s infrastructure,” HCC trustee Richard Schechter said. “By passing these bonds, Houstonians have sent a message that Houston is going to be a competitor in the global economy.”
Voters approved HISD’s $1.9 billion measure – the largest bond for a Texas school district in at least a quarter of a century – by an overwhelming majority, according to incomplete results.
“We’ll be the only urban school district in the country that all our high schools will be rebuilt from top to bottom since 2000,” HISD Superintendent Terry Grier said. “For the kids, it’s going to change their lives.”
Continue: Voters approve $2.7 billion in bond propositions
Prudential Gary Greene Blog: “It has been so refreshing for the last few months to review the overall Houston market activity and see all the metrics in a good position and getting better. October single-family home sales were up 9% which helped strengthen an upward trend.
Year-to-date, home sales are up 3% [as was the case in September] with 45,096 MLS recorded home sales. Homes are showing a resiliency in value – the median price of a home in Houston year-to-date is $154,890 and that’s 1% above the median price last year. Probably the most encouraging market stat at the conclusion of October 2011 is pending sales. Pending sales are contracts written that are scheduled to close in the near future.”
Continue here. See a snapshot view of statistics on the Houston housing market through October 2011:
via Katy Real Estate and Events Blog.
Check out this month’s local markets and trends update. Try out the neighborhood reports.
One Minute Housing Market Update
Houston Home Prices Reach a Record High in June – Home sales increase for the second time this year
HOUSTON — (July 19, 2011) — 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.
According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), June sales of single-family homes edged up 0.6 percent versus one year earlier. That represents the first increase since January when sales volume rose 8.4 percent. The under-$80,000 segment of the market as well as homes priced from $250,000 and above experienced increased sales while the popular middle range, consisting of homes priced between $80,000 and $250,000, saw declines. Compared to June of 2009, a year with no unusual market factors such as Hurricane Ike in 2008 and the 2010 tax credit, single-family home sales were up 2.7 percent.
Continue: via Katy Real Estate and Events Blog.
This area has held onto positive equity growth despite the national market decline.
“Local Market Report for the Houston-Baytown-Sugar Land Area ”
Drought conditions in the area have forced some municipal utility districts in Cinco Ranch to implement water conservation measures.
“While some homeowners have been asked to comply with voluntary water conservation measures, other MUDs are under mandatory conservation measures, punishable for violations. Residents should take careful note of which MUD their property falls under, so as to avoid confusion.
Cinco Southwest districts are under mandatory restrictions; residents and business owners should have received a direct notice via mail from Severn Trent Services shortly after June 2. Properties in the Cinco Ranch master district #MUDs Nos. 1, 2, 3, 5, 6, 7, 8, 9, 10, 12 and 14#, however, are only asked to voluntarily restrict water usage, as urged by public signs posted throughout the area.”
Continue: via Katy Real Estate and Events Blog.
Houston Area Figures & Facts by AEDO
“Economic Facts & Figures for Houston – AEDO / Economic Development / Facts & Figures
The Houston-Sugar Land-Baytown Metropolitan Statistical Area (Houston MSA) consists of 10 counties: Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery, San Jacinto and Waller. The Houston metro area:
- Ranks sixth among U.S. metropolitan statistical areas with a population of 5,867,489 as of mid-2009.
Covers more than 10,000 square miles.
- Has a gross product of $403.8 billion, according to The Perryman Group.
- Recorded 2.54 million payroll jobs in November 2010, more than the job counts of 31U.S. states, including Arizona, Colorado and Alabama.See Demographics, Business Climate and more:
Economic Facts & Figures for Houston – AEDO“
Housing Market Predictions 2011: Home Prices May Still Be Too High “by Ilyce R. Glink
What’s the forecast for the housing market for the rest of 2011? My prediction is that the market will continue to suffer for the balance of this year and well into next year. Why aren’t home buyers buying? Maybe they’ve heard the recent spate of bad housing news:”