Shannon Register Real Estate Team » Houston Association of Realtors

Planning your next move?

Shannon Register, Realtor — Mon, 19 Jul 2010 19:48:26 +0000

Moving to the Houston area? I would like to be the first to welcome you and assist you with all of your real estate needs whether you are moving to Houston, The Woodlands, or Spring, Texas. As a relocation specialist, I can help you sell your current property anywhere in the world and find a new one in this area. As a RE/MAX agent, I help relocate families all over the globe. Please call me today and I will be happy to send you a copy of the Houston Newcomer Guide. It will help you narrow your search area and give you a lot of helpful information about the communities in the surrounding area. I would like to help you with all of your relocation needs and my website offers a wealth of information. You can search the entire Houston MLS database on my website and see my featured listings, too. You can read my award winning blog and catch up on all the latest housing news. Please call me today so we can get started. When you talk to your human resources coordinator, please ask for me by name! Shannon Register 832.628.SELL

"Planning your next move?" was originally posted as a blog post at Shannon Register Real Estate Team on July 19, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Is there a move in your future?

Shannon Register, Realtor — Mon, 14 Jun 2010 19:45:34 +0000

"Is there a move in your future?" was originally posted as a blog post at Shannon Register Real Estate Team on June 14, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

TAX CREDIT EXTENDED!!

Shannon Register, Realtor — Mon, 14 Jun 2010 02:29:04 +0000

For Active Duty Military personnel living overseas during any part of the $8,000 First Time Home Buyer Tax Credit or the $6,500 Move Up Tax Credit – you are still eligible to take advantage of the tax credits until April 30, 2011.
The $8,000 First Time Home Buyer Tax Credit will be ending soon. You must be under contract by the end of April to qualify for the tax credit and must close on your home by the end of June. To qualify, the purchaser(s) may not have owned a primary residence in the last three years. It does not have to be a resale home, you may purchase from a builder. You should use a Realtor even when you purchase from a builder. It’s free for buyer’s to use Realtors and your Realtor will be representing you and looking out for your best interest. You can receive the maximum $8,000 tax credit if you are single with an income up to $125,000 or married with an income up to $225,000. The amount of the tax credit decreases as home buyers income approaches the maximum limit. Homebuyers earning more than the maximum qualifying income are not eligible for the credit.

There is an existing home buyer tax credit currently in place for $6,500. To use this tax credit you must sell your current primary residence that you have lived in for atleast five consecutive years and purchase another primary residence. If you don’t want to sell your current home, but have lived there for five years and now want to move to a new primary residence, you can still qualify for the tax credit. There are some income requirements, so check with your accountant to be sure you qualify.

Neither of these credits have to be repaid as long as you live in the new primary residence for at least three years.

"TAX CREDIT EXTENDED!!" was originally posted as a blog post at Shannon Register Real Estate Team on June 13, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

What do you want and need in a home?

Shannon Register, Realtor — Sat, 12 Jun 2010 02:23:02 +0000

Finding a new home can be exciting. But deciding what you truly want and need-and can afford-can be challenging. Making these decisions begins with setting priorities among many different preferences. Most homebuyers invariably face trade-offs. As your buyer’s representative, I can play a key role in helping you sort out your options. My team can also offer important insights specific to our local market. Here are many of the considerations you’ll want to discuss with me or my team members:

Basic Home Features

• Do you prefer a single-family detached home, townhome, condominium, or other type of property?
• Desired number of bedrooms and baths
• Preferences regarding kitchen, dining, family rooms, etc. and preferred home layout
• High-priority home features, such as kitchen appliances, fireplace, etc.
• Other types of rooms needed (e.g., a home office or a hobby space)
• Storage spaces (closets, basement, and outdoor shed, etc.)
• Need for a garage or parking space, and if so, for how many cars?

Other Home Preferences

• Ranch, two story, split level, etc.
• Age and style of home (Victorian, bungalow, modern, etc.)
• How important is energy efficiency or other green home features?

Neighborhoods/Location

• Commuting considerations (to work, shopping, etc.)
• Proximity to desirable features (such as a community center, exercise facility, school, hospital, etc.)
• Views – how important is to find your ideal view (overlooking a park, for example) or avoiding a bad one (busy highway)?

Lot Characteristics

• Size and Shape of yards
• Landscaping Considerations – need for privacy, play areas, decking, etc.
• Home orientation – is it important for your home to face a particular direction?

Life at Home

• If you’ll be sharing your home with kids, pets, or others, how does this impact your housing preferences?
• Proximity to neighbors

Related Costs

• HOA or Homeowner Association Fees
• Property Taxes

Trade-Offs

• How much do you want to invest in a home beyond the purchase price, either financially or in terms of sweat equity, if you can’t find exactly what you want?
• Are you willing to consider other neighborhoods that provide better affordability?
Resale
• How long do you plan to live in this home? How does this impact the type of home you will buy, how much you’ll spend, and your choice of location?

This information is reprinted from a www.REBAC.net publication.

"What do you want and need in a home?" was originally posted as a blog post at Shannon Register Real Estate Team on June 11, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

10 Steps to Prepare for Homeownership

Shannon Register, Realtor — Sat, 22 May 2010 20:04:55 +0000

1. Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.

2. Develope a wish list of what you’d like your home to have. Then prioritize the features on your list.

3. Select three or four neighborhoods you’d like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety.

4. Determine if you have enough saved to cover your down payment and closing costs. Closing costs, including taxes, attorney’s fee, and transfer fees average between 2% and 7% of the home price.

5. Get your credit in order. Obtain a copy of your credit report.

6. Determine how large a mortgage you can qualify for. Also explore different loan options and decide what’s best for you.

7. Organize all the documentation a lender will need to pre approve you for a loan.

8. Do research to determine if you qualify for any special mortgage or down payment-assistance programs.

9. Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees, if applicable.

10. Find an experienced REALTOR who can help you through the process.

"10 Steps to Prepare for Homeownership" was originally posted as a blog post at Shannon Register Real Estate Team on May 22, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Moving to Houston?

Shannon Register, Realtor — Fri, 21 May 2010 19:43:26 +0000

"Moving to Houston?" was originally posted as a blog post at Shannon Register Real Estate Team on May 21, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Upcoming HAR Article

Shannon Register, Realtor — Sat, 15 May 2010 22:56:17 +0000

Look for my article in the June 2010 Houston Realtor Magazine published by HAR.com. The article addresses blogging and how it has been a benefit to my business. People often ask me how blogging has helped with my success. I hope you enjoy the article that addresses not only blogging, but all types of social media.

"Upcoming HAR Article" was originally posted as a blog post at Shannon Register Real Estate Team on May 15, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

5 Reasons You Need a REALTOR

Shannon Register, Realtor — Sun, 09 May 2010 19:10:36 +0000

1. A real estate transaction is complicated. In most cases, buying or selling a home requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multi-page government-mandated settlement statements. A knowledgeable guide through this complexity can help you avoid delays or costly mistakes.

2. Selling or buying a home is time consuming. Even in a strong market, homes in our area stay on the market for an average of 180 days. And it usually takes another 60 days or so for the transaction to close after an offer is accepted.

3. Real estate has its own language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with someone who speaks that language.

4. REALTORS have done it before. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. And even if you’ve done it before, laws and regulations change. That’s why having an expert on your side is critical.

5. REALTORS provide objectivity. Since a home often symbolizes family, rest, and security, not just four walls and roof, home selling or buying is often a very emotional undertaking. And for most people, a home is the biggest purchase they’ll ever make. Having a concerned, byt objective, third party helps you keep focused on both the business and emotional issues most important to you.

6. REALTORS are members of the National Association of REALTORS, a trade organization of more than 1 million members nationwide. REALTORS subscribe to a stringent code of ethics that helps guarantee the highest level of service and integrity.

"5 Reasons You Need a REALTOR" was originally posted as a blog post at Shannon Register Real Estate Team on May 9, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

3 Open Houses This Weekend!

Shannon Register, Realtor — Fri, 23 Apr 2010 20:12:19 +0000

This weekend I will be holding open three of my listings. I hope you’ll stop by to see them!

Saturday from 1-3pm 25819 Sarah Springs, Spring, 77373, Spring Lakes Subdivision

Saturday from 3-5pm 25714 Serene Springs, Spring, 77373, Spring Lakes Subdivision

Sunday from 2-4pm 25535 Mill Pond, Spring, 77373, Lexington Woods Subdivision

"3 Open Houses This Weekend!" was originally posted as a blog post at Shannon Register Real Estate Team on April 23, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Top 5 February Real Estate Milestones for Houston

Shannon Register, Realtor — Thu, 22 Apr 2010 02:38:53 +0000

Average price for a single-family home appreciated for a fifth straight month, by 12.3%, to $203,271.
The median price of a single-family home rose for the 10^th consecutive month, by 6.5%, to $147,000.
6.3 months inventory of single-family homes compares favorably to the national average of 7.8 months.
Townhouse/condominium sales rose 8.9%
Total dollar volume grew 5.1%, reaching $747 million

Information courtesy of the Houston Association of Realtors, 2010 MLS Chair

"Top 5 February Real Estate Milestones for Houston" was originally posted as a blog post at Shannon Register Real Estate Team on April 21, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Relocating to Houston?

Shannon Register, Realtor — Tue, 13 Apr 2010 19:39:13 +0000

"Relocating to Houston?" was originally posted as a blog post at Shannon Register Real Estate Team on April 13, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Lakewood Church Buys Compaq Arena

Shannon Register, Realtor — Sun, 11 Apr 2010 17:58:54 +0000

HOUSTON (Houston Business Journal) – Lakewood Church has purchased the former Compaq Center from the city for $7.5 million.

Lakewood signed a 30-year lease on the 16,000-seat facility in 2002 and spent over $80 million renovating it before beginning worship services there in July 2005.

The sale of the seven-acre property at 3700 Southwest Fwy. is a move by the Houston City Council to reduce the city’s budget deficit. A Lakewood spokesman said the church will use debt to fund the transaction, which is expected to close in 45 days.

For more on mega churches, read “Good Heavens! Texas Churches Grow to Biblical Proportions” in the April 2007 issue of Tierra Grande magazine.

"Lakewood Church Buys Compaq Arena" was originally posted as a blog post at Shannon Register Real Estate Team on April 11, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

NAR Reports Sales Agreement Increase

Shannon Register, Realtor — Fri, 09 Apr 2010 17:53:50 +0000

WASHINGTON, D.C. (Associated Press) – The National Association of Realtors announced Monday that its seasonally adjusted index of home sales agreements rose 8.2 percent from January to February.

January’s reading was revised slightly downward to 90.2, and the February reading was 97.6.

The index is considered a barometer for future sales activity because there is typically a one- to two-month lag between a signed sales contract and a completed deal.

Sales increased 9 percent in the South and Northeast from January to February, fell nearly 5 percent in the West and rose nearly 22 percent in the Midwest.

"NAR Reports Sales Agreement Increase" was originally posted as a blog post at Shannon Register Real Estate Team on April 9, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

What Should You Look for in a Final Walk Through?

Shannon Register, Realtor — Wed, 07 Apr 2010 17:08:40 +0000

1. Any repairs you’ve requested should be completed. You’ll need to obtain copies of paid bills and warranties at closing.
2. Make sure all items remain in the home – drapes, blinds, light fixtures, etc.
3. Make sure screens and storm windows are intact.
4. Intercom, doorbell, and alarm are operational.
5. Hot water is working and water pressure is good.
6. No plants or shrubs have been removed from the yard.
7. Make sure you have garage door openers, gate openers, and mail box keys.
8. Manuals for appliances should be in the home.
9. All personal belongings from the seller should be removed.
10. If the home was to be professionally cleaned before closing it should appear to be clean.

"What Should You Look for in a Final Walk Through?" was originally posted as a blog post at Shannon Register Real Estate Team on April 7, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

5 Things to Do Before You Sell

Shannon Register, Realtor — Mon, 29 Mar 2010 04:27:00 +0000

1. Get estimates from a reliable repair person on items that need to be replaced soon, such as a roof or worn carpeting, for example. In this way, buyers will have a better sense of how much these needed repairs will affect their costs.

2. Have a termite inspection to prove to buyers that the property is not infested.

3. Get a pre-sale home inspection so you’ll be able to make repairs before buyers become concerned and cancel a contract.

4. Gather together warranties and guarantees on teh furnace, appliances, and other items that will remain with the house.

5. Fill out a disclosure form provided by your sales associate. Take the time to be sure that you don’t forget problems, however minor, that might create liability for you after the sale.

"5 Things to Do Before You Sell" was originally posted as a blog post at Shannon Register Real Estate Team on March 28, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Houston, Dallas on the Grow

Shannon Register, Realtor — Sun, 28 Mar 2010 21:30:11 +0000

HOUSTON (Houston Business Journal) – Houston and Dallas–Fort Worth received the largest influx of residents in the country in 2009, according to the U.S. Census Bureau.
The 6.45 million people living in DFW as of July 1, 2009, marked a 2.3 percent increase from 2008. The area’s raw influx of 146,530 people was more than any other region in the nation.
Houston had the second-highest population growth last year, with 140,784 people pouring into the metro area, a 2.5 percent increase that pushed the region’s total population to 5.86 million.
DFW now houses the nation’s fourth-highest population, and Houston the sixth-highest, according to the U.S. Census Bureau.

"Houston, Dallas on the Grow" was originally posted as a blog post at Shannon Register Real Estate Team on March 28, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

What Should A Home Inspection Cover?

Shannon Register, Realtor — Sun, 28 Mar 2010 04:13:44 +0000

I have written blog posts in the past that address what to look for in an inspection report. However, I have questions about this arise with every buyer. Therefore, I am writing about it again. It’s useful information that buyer’s need to have!

• Siding – look for dents or buckling
• Foundations – look for cracks or water seepage
• Exterior Brick – look for cracked bricks or mortar pulling away from bricks
• Insulation – look for condition, adequate rating for climate
• Doors and windows – look for loose or tight fits, condition of locks, condition of weather stripping
• Roof – look for age, conditions of flashing, pooling water, buckled shingles, or loose gutters and downspouts
• Ceilings, walls, and moldings – look for loose pieces, drywall that is pulling away
• Porch/Deck – loose railings or step, rot
• Electrical – look for condition of fuse box/circuit breakers, number of outlets in each room
• Plumbing – look for poor water pressure, banging pipes, rust spots or corrosion that indicate leaks, sufficient insulation
• Water heater – look for age, size adequate for house, speed of recovery, energy rating
• Furnace/Air Conditioning – look for age, energy rating; Furnaces are rated by annual fuel utilization efficiency; the higher the rating, the lower your fuel costs. However, other factors such as payback period and other operating costs, such as electricity to operated motors.
• Garage – look for exterior in good repair; condition of floor-cracks, stains, etc.; condition of door mechanism
• Basement – look for water leakage, musty smell
• Attic – look for adequate ventilation, water leaks from roof
• Septic Tanks (if applicable) – adequate absorption field capacity for the percolation rate in your area and the size of your family
• Driveways/Sidewalks – look for cracks, heaving pavement, crumbling near edges, stains

"What Should A Home Inspection Cover?" was originally posted as a blog post at Shannon Register Real Estate Team on March 27, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Mortgage Rates Remain Flat

Shannon Register, Realtor — Fri, 26 Mar 2010 04:18:42 +0000

Current 30-Year Fixed Rate is 4.80%, According to Zillow® Mortgage Rate Ticker
SEATTLE, March 23 /PRNewswire/ — The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.80 percent, up two basis points from 4.78 percent compared to this same time last week. The 30-year fixed mortgage rate rose over the weekend, with a Sunday spike at 4.88 percent, before coming down on Monday.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO)
Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers through the site, and reflect the most recent changes in the market. These are not marketing rates, or a weekly survey.
The rate for 15-year fixed home loans is currently 4.19 percent, while the rate for 5-1 adjustable-rate mortgages (ARM) is 3.66 percent.
The total volume of mortgage requests in the past week was down 4.4 percent from the prior week. Of last week’s requests, 31 percent were for refinance loans, 67 percent were for purchase loans and 2 percent were for home equity loans. The prior week, 32.2 percent of requests were for refinance loans, 65.8 percent were for purchase loans and 2 percent were for home equity loans.
Below are current rates for 30-year fixed mortgages by state. Additional states’ rates are available at: www.zillow.com/Mortgage_Rates.

State Current 30-Year Fixed Rate (3/23/10) Last week’s 30-Year Fixed Rate (3/16/10) Change in Basis Points
California Mortgage Rates
4.76% 4.71% +5
Colorado Mortgage Rates
4.82% 4.81% +1
Florida Mortgage Rates
4.72% 4.80% -8
Illinois Mortgage Rates
4.76% 4.82% -6
Massachusetts Mortgage Rates
4.96% 4.85% +11
New Jersey Mortgage Rates
4.75% 4.79% -4
New York Mortgage Rates
4.85% 4.80% +5
Pennsylvania Mortgage Rates
4.85% 4.86% -1
Texas Mortgage Rates
4.88% 5.02% -14
Washington Mortgage Rates
4.75% 4.81% -6

About Zillow Mortgage Marketplace
Zillow Mortgage Marketplace is a free, open, and transparent lending marketplace, where borrowers connect with lenders to find loans and get the best mortgage rates. Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders. Zillow Mortgage Marketplace also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories.
Zillow is a registered trademark of Zillow, Inc.

"Mortgage Rates Remain Flat" was originally posted as a blog post at Shannon Register Real Estate Team on March 25, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Top 10 Ways to Make Your Home Irresistable at an Open House

Shannon Register, Realtor — Sun, 21 Mar 2010 03:35:54 +0000

1. Put fresh or silk flowers in principal rooms for a touch of color.

2. Add a new shower curtain, fresh towels, and new guest soaps to every bath.

3. Set out potpourri or fresh baked goods for a homey smell.

4. Set the table with pretty dishes and candles.

5. Buy a fresh doormat with a clever saying.

6. Take one or two major pieces of furniture out of every room to create a sense of spaciousness.

7. Put away kitchen appliances and personal bathroom items to give the illusion of more counter space.

8. Lay a fire in the fireplace. Or put a basket of flowers there if it’s not in use.

9. Depersonalize the rooms by putting away family photos, mementos, and distinctive artwork.

10. Turn on the sprinklers for 30 minutes to make the lawn sparkle.

"Top 10 Ways to Make Your Home Irresistable at an Open House" was originally posted as a blog post at Shannon Register Real Estate Team on March 20, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

5 Common First-Time Homebuyer Mistakes

Shannon Register, Realtor — Sun, 21 Mar 2010 03:01:30 +0000

1. They don’t ask enough questions of their lender and miss out on the best deal.

2. THey don’t act quickly enough to make a decision and someone else buys the house.

3. They don’t find the right real estate professional who is willing to help you through the homebuying process.

4. They don’t do enough to make their offer look good to a seller.

5. They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years.

REPRINTED WITH PERMISSION FROM REAL ESTATE CHECKLIST AND SYSTEMS ( http://www.realestatechecklists.com ) REPRINTED FROM REALTOR MAGAZINE ONLINE BY PERMISSION OF THE NATIONAL ASSOCIATION OF REALTORS, COPYRIGHT 2005, ALL RIGHTS RESERVED.

"5 Common First-Time Homebuyer Mistakes" was originally posted as a blog post at Shannon Register Real Estate Team on March 20, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Video Market Update – Feb. Brings Robust Sales Activity to Houston Real Estate Market

Shannon Register, Realtor — Sat, 20 Mar 2010 02:01:30 +0000

February Brings Robust Sales Activity to Upper Segments of the Houston Real Estate Market

Sales of homes from $250K and above give pricing another boost

HOUSTON — (March 16, 2010) — The Houston real estate market completed the second month of 2010 showing continued vitality in home prices, thanks to robust sales activity in the upper housing segments.

Overall February sales of single-family homes across the greater Houston area slid 5.8 percent compared to February 2009, according to the latest monthly data compiled by the Houston Association of REALTORS® (HAR). When broken out by segment, however, sales of single-family homes priced from $250,000 and above recorded double-digit gains. Sales of all property types declined 7.4 percent in February on a year-over-year basis.

The average price of a single-family home appreciated for the fifth straight month, reaching $203,271, up 12.3 percent versus February 2009. At $147,000, the February single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 6.5 percent from one year earlier. That represents the tenth consecutive monthly increase in median price.

Foreclosure property sales reported in the Multiple Listing Service (MLS) fell by 18.7 percent in February compared to one year earlier. The median price of February foreclosure sales rose 7.5 percent to $86,000 on a year-over-year basis.

Sales of all property types in Houston for February totaled 3,843, down 4.6 percent compared to February 2009. Total dollar volume for properties sold during the month was $747 million versus $711 million one year earlier, representing a 5.1 percent increase.

“We are encouraged by steady homebuying activity in the higher-end single-family segment, which has strengthened Houston’s already enviable real estate pricing,” said Margie Dorrance, HAR chair and principal at Keller Williams Realty Metropolitan. “We expect to see consumer interest extend to the other segments as the spring homebuying season heats up.”

February Monthly Market Comparison
The month of February brought Houston’s overall housing market mixed results when all listing categories are compared to February of 2009. Total property sales declined while total dollar volume and both median and average single-family home sales prices rose on a year-over-year basis.

The number of available properties, or active listings, at the end of February rose 4.3 percent from February 2009 to 46,658. That represents 1,448 more active listings than one month earlier, in January 2010, and may reflect increased activity stemming from the federal homebuyer tax credit that expires on April 30.

February’s month-end pending sales—those listings expected to close within the next 30 days—totaled 3,168, down 1.8 percent from last year. The months inventory of single-family homes for February grew to 6.3 months compared to 5.9 months one year earlier, but remains better than the national months inventory of single-family homes of 7.8 months, reported by the National Association of REALTORS® (NAR).

CATEGORIES FEBRUARY 2009 FEBRUARY 2010 PERCENT CHANGE
Total property sales 4,030 3,843 -4.6%
Total dollar volume $710,696,861 $747,032,015 5.1%
Total active listings 44,747 46,658 4.3%
Total pending sales 3,227 3,168 -1.8%
Single-family home sales 3,450 3,251 -5.8%
Average single-family sales price $180,966 $203,271 12.3%
Median single-family sales price $138,000 $147,000 6.5%
Months inventory* 5.9 6.3 7.5%

* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.

Single-Family Homes Update

February sales of all single-family homes in Houston totaled 3,251, down 5.8 percent from February 2009. This is the Houston market’s third consecutive monthly decline in sales. However, broken out by segment, sales of single-family homes priced between $250,000 and $500,000 rose 15.8 percent in February while sales of luxury homes—those priced from $500,000 to the millions—climbed 14.9 percent. By contrast, sales of homes in the below-$80,000 segment fell 27.5 percent and those priced between $80,000 and $150,000 were unchanged.

Heightened sales activity in the higher end of the housing market drove pricing up in February. At $147,000, the median sales price for single-family homes rose for the tenth consecutive month, up 6.5 percent from February 2009. The national single-family median price reported by NAR is $163,600, illustrating the continued higher value and lower cost of living that consumers enjoy in the Houston market. The average price of single-family homes in February was $203,271, an increase of 12.3 percent from one year earlier. That represents the fifth straight monthly jump in the average price.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In February 2010, existing home sales totaled 2,681, a 5.1 percent drop from February 2009. The median sales price rose 7.5 percent to $136,000 compared to last year. The average sales price of $189,998 increased 15.7 percent from its February 2009 level.

Townhouse/Condominium Update

The number of townhouses and condominiums that sold in February rose 8.9 percent compared to one year earlier. In the greater Houston area, 330 units were sold last month versus 303 properties in February 2009.

The median price of a townhouse/condominium edged up 2.5 percent year-over-year to $128,000. The average price was up 3.9 percent to $158,648 from February 2009 to February 2010.

Lease Property Update

Demand for single-family home rentals rose 9.9 percent in February compared to a year earlier. Year-over-year townhouse/condominium rentals shot up 20.1 percent.

Houston Real Estate Milestones in February

•The average price of a single-family home appreciated for a fifth straight month, by 12.3 percent, to $203,271;

•The median price of a single-family home rose for the tenth consecutive month, by 6.5 percent, to $147,000;

•6.3 months inventory of single-family homes compares favorably to the national average of 7.8 months;

•Townhouse/condominium sales rose 8.9 percent;

•Total dollar volume grew 5.1 percent, reaching $747 million.

The computerized Multiple Listing Service of the Houston Association of Realtors® includes residential properties and new homes listed by 25,000 Realtors® throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. Residential home sales statistics as well as listing information for more than 50,000 properties may be found on the Internet at http://www.har.com.

The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All data is preliminary and subject to change. Monthly sales figures reported since November 1998 includes a statistical estimation to account for late entries. Twelve-month totals may vary from actual end-of-year figures. (Single-family detached homes were broken out separately in monthly figures beginning February 1988.)

Founded in 1918, the Houston Association of Realtors® (HAR) is a 25,000-member organization of real estate professionals engaged in every aspect of the industry, including residential and commercial sales and leasing, appraisal, property management and counseling. It is the largest local association/board of Realtors® in the United States as well as the largest individual membership trade association in Houston.

"Video Market Update – Feb. Brings Robust Sales Activity to Houston Real Estate Market" was originally posted as a blog post at Shannon Register Real Estate Team on March 19, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Making Your Next Move?

Shannon Register, Realtor — Sat, 06 Mar 2010 19:35:04 +0000

Are you getting ready to make your next move to the Houston area? I would like to be the first to welcome you and assist you with all of your real estate needs whether you are moving to Houston, The Woodlands, or Spring, Texas. As a relocation specialist, I can help you sell your current property and find a new one in this area. As a RE/MAX agent, I help relocate families all over the globe. Please call me today and I will be happy to send you a copy of the Houston Newcomer Guide. It will help you narrow your search area and give you a lot of helpful information about the communities in this area. I would like to help you with all of your relocation needs. Please call me today so we can get started. When you talk to your human resources coordinator, please ask for me by name! Shannon Register 832.628.SELL

"Making Your Next Move?" was originally posted as a blog post at Shannon Register Real Estate Team on March 6, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Seven Tips for Buying in a Tight Market

Shannon Register, Realtor — Tue, 02 Mar 2010 03:45:42 +0000

Increase your chances of getting your dream house instead of losing it to another buyer, with these easy steps.

1. Get prequalified for a mortgage. You’ll be able to make a firm commitment to buy and make your offer more desirable to the seller.

2. Stay in close touch with your real estate sales associate to find out first about new listings that come on the market. And be ready to go see a house as soon as it goes on the market.

3. Scout out new listings yourself. Look at Internet sites, newspaper ads, and drive by the neighborhood frequently. Maybe you’ll see a brand-new “for sale” sign before anyone else.

4. Be ready to make a decision. Spend lots of time in advance deciding what you must have so you won’t be unsure when you have the chance to make an offer.

5. Bid competitively. You may not want to start out offering the absolute highest price you can afford, but don’t try to go too low to get a deal. In a tight market, you’ll lose out.

6. Keep contingencies to a minimum. Restrcitions such as needing to sell your home before you move or wanting to delay the closing until a certain date can make your offer unappealing. In a tight market, you’ll probably be able to sell your house rapidly. Or talk to your lender about getting a bridge loan to cover both mortgages for a short period.

7. Don’t get caught in a buying frenzy. Just because there’s competition doesn’t mean you should just buy anything. And even though you want to make your offer attractive, don’t neglect inspections that help ensure that your house is sound.

"Seven Tips for Buying in a Tight Market" was originally posted as a blog post at Shannon Register Real Estate Team on March 1, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Government Creating Uncertainty, Dotzour Says

Shannon Register, Realtor — Sun, 28 Feb 2010 16:41:09 +0000

AUSTIN (National Real Estate Investor) – U.S. businesses are hoarding cash instead of helping revitalize the down economy through spending and hiring, says Dr. Mark Dotzour.
The Real Estate Center’s chief economist shared his thoughts on why at CCIM Central Texas’ symposium in Austin Tuesday.
“We are used to thinking of the federal government as the solution to these problems for economic growth and they have rapidly become the source of the problem because of the uncertainty that they have created for business people,” Dotzour said.
Take taxes, for instance.
Although proposals to raise the capital gains tax from the current 15 percent to 24 percent have been scaled back to 20 percent, Dotzour said even that hike would reduce initial returns on investments in commercial real estate. That threat of a bigger tax hit will influence many potential buyers to postpone acquisitions until a definite rate is set and can be factored into purchase prices.
Dotzour also said worries about higher income tax rates, increasing energy costs as a result of cap and trade legislation, and the potential impact of health-care reform proposals are weighing on the minds of business owners and would-be entrepreneurs.
For more on what Dotzour had to say, read the National Real Estate Investor article.

"Government Creating Uncertainty, Dotzour Says" was originally posted as a blog post at Shannon Register Real Estate Team on February 28, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Open House this Sunday

Shannon Register, Realtor — Wed, 24 Feb 2010 06:58:50 +0000

This Sunday, Feb. 28th, I will be holding open 20223 Cypresswood Glen in the Cypresswood Lake Subdivision in Spring, TX from 1-3pm. The gate code to the subdivision is 1057. You can get directions, see photos of the home, watch a video, and get more information by visiting http://buyandsellwithshannon.com/blog/134900-20223-cypresswood-glen-spring-tx-77373/ . I hope you’ll stop in on Sunday!

"Open House this Sunday" was originally posted as a blog post at Shannon Register Real Estate Team on February 24, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Help with Short Sales and Foreclosures

Shannon Register, Realtor — Thu, 18 Feb 2010 23:07:00 +0000

Due to the massive amount of short sales and foreclosures in the Houston area I have acquired my CDPE – Certified Distressed Property Expert Designation. This new designation has taught me the short sale process and how to get the deal closed. It is the designation that banks require for Realtors to work on their distressed and foreclosure properties. If you or someone you know is behind on their mortgage please choose a Realtor that holds this designation. I enjoy helping homeowners learn how to avoid foreclosure and helping them sale their properties before they are foreclosed on.

"Help with Short Sales and Foreclosures" was originally posted as a blog post at Shannon Register Real Estate Team on February 18, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Houston’s Luxury Home Market Gets a Boost in January

Shannon Register, Realtor — Wed, 17 Feb 2010 23:19:25 +0000

Surge in sales of homes priced $500K and above promotes double-digit price appreciation

HOUSTON — (February 16, 2010) — The Houston real estate market opened 2010 with a mixed bag of readings, making it difficult to determine a clear direction for the months ahead.
January sales of single-family homes across the greater Houston area slid 12.3 percent compared to January 2009, according to the latest monthly data compiled by the Houston Association of REALTORS® (HAR). When broken out by segment, sales of single-family homes priced from $500,000 and above showed dramatic gains in January while sales of homes on the opposite end of the spectrum, those priced from $80,000 and below, fell. Sales of all property types declined 7.4 percent in January on a year-over-year basis.

At $144,500, the January single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 11.9 percent from one year earlier. That represents the ninth consecutive monthly increase in median price as well as the highest Houston median recorded in a January. The average price of a single-family home appreciated for the fourth straight month, reaching $194,154, up 18.4 percent versus January 2009. That figure also represents the highest for a January in Houston.

Foreclosure property sales reported in the Multiple Listing Service (MLS) fell by 30.1 percent in January compared to one year earlier. The median price of January foreclosure sales rose 4.6 percent to $84,750 on a year-over-year basis.

Sales of all property types in Houston for January totaled 3,049, down 7.4 percent compared to January 2009. Total dollar volume for properties sold during the month was $565 million versus $535 million one year earlier, representing a 5.6 percent increase.

“Several overlapping factors influenced the Houston housing market as the new year began,” said Margie Dorrance, HAR chair and principal at Keller Williams Realty Metropolitan. “These include both the first-time homebuyer tax credit and the expanded credit for existing homeowners, which may have prompted more listing activity. Strong sales activity in the higher-end single-family home segment also contributed to an overall higher average sales price for the Houston market. We hope to see both sales and pricing continue to reflect a robust real estate market as the April 30 tax credit deadline approaches and we enter the traditionally busy spring homebuying season.”

January Monthly Market Comparison
The month of January brought Houston’s overall housing market mixed results when all listing categories are compared to January of 2009. Total property sales declined while total dollar volume and both median and average single-family home sales prices rose on a year-over-year basis.

The number of available properties, or active listings, at the end of January edged up 2.3 percent from January 2009 to 45,210. That represents 2,025 more active listings than one month earlier, in December 2009, and is thought to reflect increased activity stemming from the homebuyer tax credit that expires on April 30

January’s month-end pending sales—those listings expected to close within the next 30 days—totaled 2,783, down 13.5 percent from last year. That suggests there will likely be another sales decline when the February numbers are tallied. The months inventory of single-family homes for January inched upward to 6.1 months compared to 5.7 months one year earlier, but remains better than the national months inventory of single-family homes of 7.2 months, reported by the National Association of REALTORS® (NAR).

CATEGORIES	JANUARY 2009	JANUARY 2010	PERCENT CHANGE
Total property sales	3,292	3,049	-7.4%
Total dollar volume	$535,131,442	$565,091,875	5.6%
Total active listings	44,178	45,210	2.3%
Total pending sales	3,216	2,783	-13.5%
Average single-family sales price	$163,983	$194,154	18.4%
Median single-family sales price	$129,110	$144,500	11.9%
Months inventory*	5.7	6.1	6.4%

Single-Family Homes Update

January sales of all single-family homes in Houston totaled 2,514, down 12.3 percent from January 2009. This is the Houston market’s second consecutive monthly decline in sales. However, broken out by segment, sales of single-family homes priced between $250,000 and $500,000 jumped 21.6 percent in January while sales of luxury homes—those priced from $500,000 to the millions—surged 40.0 percent. By contrast, sales of homes in the below-$80,000 segment fell 28.9 percent and those priced between $80,000 and $150,000 slid 19.3 percent.

Heightened sales activity in the higher end of the housing market drove pricing up in January. At $144,500, the median sales price for single-family homes rose for the ninth consecutive month, up 11.9 percent from January 2009. That’s its highest median for a month of January in Houston. The national single-family median price reported by NAR is $177,500, illustrating the continued higher value and lower cost of living that consumers enjoy in the Houston market. The average price of single-family homes in January was $194,154, an increase of 18.4 percent from one year earlier. That represents the fourth straight monthly jump in the average price and the highest for a January in Houston.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In January 2010, existing home sales totaled 2,071, an 11.9 percent drop from January 2009. The median sales price rose 13.7 percent to $133,000 compared to last year. The average sales price of $180,159 shot up 23.0 percent from its January 2009 level.
Townhouse/Condo Update

The number of townhouses and condominiums that sold in January rose 14.8 percent compared to one year earlier. In the greater Houston area, 241 units were sold last month versus 210 properties in January 2009.
The median price of a townhouse/condominium fell 11.3 percent year-over-year to $111,500. The average price slipped 4.3 percent to $147,501 from January 2009 to January 2010.

Lease Property Update

Demand for single-family home rentals rose 4.7 percent in January compared to a year earlier. Year-over-year townhouse/condominium rentals climbed 5.1 percent.
Houston Real Estate Milestones in January

The average price of a single-family home appreciated for a fourth straight month, by 18.4 percent, to $194,154, the highest level for a January in Houston;

The median price of a single-family home rose for the ninth consecutive month, by 11.9 percent, to $144,500, the highest level for a January in Houston;

6.1 months inventory of single-family homes compares favorably to the national average of 7.2 months;

Townhouse/condominium sales rose 14.8 percent;

Total dollar volume grew 5.6 percent, reaching $565 million.

The computerized Multiple Listing Service of the Houston Association of Realtors® includes residential properties and new homes listed by 25,000 Realtors® throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. Residential home sales statistics as well as listing information for more than 50,000 properties may be found on the Internet at http://www.har.com.

The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All data is preliminary and subject to change. Monthly sales figures reported since November 1998 includes a statistical estimation to account for late entries. Twelve-month totals may vary from actual end-of-year figures. (Single-family detached homes were broken out separately in monthly figures beginning February 1988.)

"Houston’s Luxury Home Market Gets a Boost in January" was originally posted as a blog post at Shannon Register Real Estate Team on February 17, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Moving to Houston?

Shannon Register, Realtor — Tue, 16 Feb 2010 19:30:14 +0000

"Moving to Houston?" was originally posted as a blog post at Shannon Register Real Estate Team on February 16, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

Houston Loses 25,500 Construction Jobs in 2009

Shannon Register, Realtor — Mon, 15 Feb 2010 05:19:16 +0000

HOUSTON (Houston Business Journal) – Houston lost 25,500 construction jobs between December 2008 and December 2009, more than any other metropolitan area in the country, according to the Associated General Contractors of America (AGCA).

AGCA’s analysis of the latest Bureau of Labor Statistics figures revealed that Houston–Sugar Land–Baytown construction jobs decreased 13 percent from 203,900 jobs in December 2008 to 178,400 jobs at the end of 2009.

Although Houston had the largest total job loss in the construction sector, other metros had higher percentage decreases year over year.

Only four of 337 cities nationwide added construction jobs last year.

AGCA also reports that construction spending fell $100 billion in December to a six-year low of $903 billion.

"Houston Loses 25,500 Construction Jobs in 2009" was originally posted as a blog post at Shannon Register Real Estate Team on February 15, 2010.

Shannon Register Real Estate Team named "Best Real Estate Blog in Texas by the Mays Business School Real Estate Research Center at Texas A&M University.

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