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
Check out this month’s local markets and trends update. Try out the neighborhood reports.
One Minute Housing Market Update
MLS Press Release: “HOUSTON HOME SALES RISE AGAIN IN JULY
The second consecutive monthly increase is still attributed to slower than usual home sales in 2010 following expiration of the tax credit HOUSTON — August 16, 2011 — 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 its July 2011 in Houston, Texas, its a nearly 17 percent increase in home sales. Last years third quarter slowdown in home sales continues to make this years 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.”
via HOUSTON – KATY AREA REAL ESTATE BLOG.
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.
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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:”
Affordability Reaches Highest Level in 20 Years
Homes are more affordable to more families, according to the latest index for the first quarter of 2011 that shows affordability reaching its highest level in more than 20 years.
Nearly 75 percent of all new and existing homes sold in the first quarter of 2011 were affordable to families earning the national median income of $64,400, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. The previous high was set in the fourth quarter of 2010 with 73.9 percent.
“With interest rates remaining at historically low levels, today’s report indicates that home ownership is within reach of more households than it has been for more than two decades,” says Bob Nielsen, chairman of the National Association of Home Builders.
Prudential Gary Greene, Realtors – Katy office has a drop-off point for donations for the Tornado Victims. Our address is 23922 Cinco Village Center, Suite 123, Katy TX. We are located on Commerical Blvd, between Cinco Ranch Blvd and Westheimer Parkway on the west side of Commerical. Call our office for directions if you cannot find us 281-646-1136. Help us spread the word!
Items needed: Bottled water, sun screen, snacks, can food, baby food, diapers, clothing, shoes, underwear, household items, chairs, tents, tarps, toiletries, boxes, batteries, etc. Really when you get down to it, these people need it all. Help us help them!