See the 10 tips for sellers in the Mortgage Advice section.
Real Estate Market Conditions Video Update 01/16/2012
Real Estate Outlook: More Markets Show Measurable Improvement
City Report: Forbearance
Green Living: Tips for the New Year
Real Estate Outlook: Mortgage Applications Down
City Report: Remodeling Pays
10 Tips for Sellers
Buyers: Making the Right Choice
Ready to Buy?
How to Sidestep the Spread of Mortgage Fraud
The Joys of Home Ownership
GET YOUR HOME SOLD!
Why Show / Why Buy Webcast
Check out this month’s local markets and trends update. Try out the neighborhood reports.
One Minute Housing Market Update
This is good advice for the first-time homebuyer, and it is a good review for seasoned buyers.
“A house is probably the biggest purchase you’ll ever make. And, if you can avoid these missteps, chances are you’ll be happy with the home you choose. Are you gearing up to buy your first place? Shopping for a home is exciting, exhausting and a little scary, especially in this market. In the end, your aim is to end up with a home you love at a price you can afford. Sounds simple enough, right? Unfortunately, many people make mistakes that prevent them from achieving that simple dream. Arm yourself with these tips to get the most out of your purchase and avoid making 10 of the most costly mistakes that could put a hold on that sold sign.
1. Not knowing what you can afford.
We learned from the subprime mortgage mess, what the bank says you can afford and what you know you can afford or are comfortable with paying are not necessarily the same. .”
via HOUSTON – KATY AREA REAL ESTATE BLOG.
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.
Tara-Nicholle Nelson, a Broker in San Francisco, is one of my favorite real estate/mortgage bloggers. Here is what her article in Trulia.com has to say about minimizing the risk in home ownership.
“Not so long ago, in a not-so-distant land, owning a home was thought of as the safest ‘investment’ around. Fast forward to the present day, and home ownership seems super scary to many people who can afford homes, and would like to own them, but are paralyzed by the fear of buying a lemon, or having a mortgage catastrophe.
Here are 4 simple steps to minimize the risk that you’ll become the main character in a homeownership horror story.
1. Stick with a fixed-rate mortgage. Recent data shows that adjustable rate mortgages, or ARMs, are increasingly popular, rising from 9 percent of the mortgage market in the fourth quarter of 2010 to 12 percent in the first quarter of this year. This might seem crazy to some, but in financially aggressive crowds, the lure of low, 3 percent#ish# interest rates on ARMs is enough to overcome any qualms. As well, today’s ARMs tend to have lower lifetime interest rate caps and require payment of principal, so they don’t adjust as violently as the subprime interest-only and option ARMs that contributed to the foreclosure crisis.”
Continue: 4 Steps to Minimize the Risk of Owning a Home:
via Katy Real Estate and Events 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.