2013 Record Year for Houston Area Home Sales

By |2017-03-13T15:54:53-05:00January 26th, 2014|News|

It is no secret that Houston’s economy just keeps pumping, throughout the region both transplants and locals are discovering that buying a home makes sense. Understandably, housing supply has been extremely tight throughout the year. All this growth has driven single-family home sales in the Houston area to the lowest recorded inventory levels. Ever. According to the latest Houston Association of Realtors monthly report, single-family home sales hit a record 73,232 closings in 2013, up an astounding 17.4% over 2012 (itself a very active year). Here’s a look at some statistical highlights from 2013:

  • The Houston Area recorded 86,000 new jobs created, plenty of those new workers seem to have bought houses.
  • The Houston Area median home price was $180,000 in 2013, up 9.4% over the previous year.
  • The Houston Area average home price was a record-setting $265,017, up 10.3% from the previous average of $240,326 a year ago.
  • Single-family home inventory hit a record low of 2.6 months, meaning that’s how long it would take for the Houston Area to sell every home listed given the current rate of sales. That’s less than the 3.7 months from 2012 and 5.8 months from 2011. A more “balanced” or “typical” market would usually hover around 6 months. This is absolutely a seller’s market.
  • Total volume of home sales jumped 30.2% to $20.89 billion dollars.
Comments Off on 2013 Record Year for Houston Area Home Sales

Clear to Close: 5 Steps to Streamline the Path to CTC

By |2017-03-13T15:54:53-05:00December 1st, 2013|Advice|

“Clear to Close!”  Those words are great news for buyers (and their agents)!  Clear to Close (CTC) means all conditions of your loan have been met and the loan underwriter has given his blessing to release instructions to the title company for the closing.  If you’re buying a home and you’re purchasing the home through financing, this is your goal: clear to close.    Sometimes, these three words come in advance and everyone just coasts through the process.  More typical though, you may be waiting for the CTC until the 11th hour.  This can be a high stress time for you as a buyer.

To help streamline the path to your CTC, follow these 5 easy steps.

  1. Choose a lender who is a good communicator.  How fast does your potential lender respond to your questions?  Do you understand the answers that they provide?

  2. Ask your lender to provide a step-by-step accounting of the loan approval process in addition to the required disclosures and good faith estimates.   (If they cannot provide a list, be wary!)

  3. Provide your lender all documents he or she requests as quickly as possible.   Any time spent waiting on you will slow down the approval process.  Don’t open any new accounts, close any existing accounts, or make any large purchases without consulting with your lender first.

  4. Make a quick electronic copy of your documents before you send them to the lender.  A paper copy is ok:  a scanned copy is better.  There […]

Comments Off on Clear to Close: 5 Steps to Streamline the Path to CTC

End of Summer Market Update: Montgomery County

By |2017-03-13T15:54:53-05:00September 6th, 2013|News|

See how the market is doing with our latest Montgomery County Residential Market Update. Click the link above to see a short video outlining the key market trends at the end of the summer. In case you are wondering, it’s been another white hot summer buying season here in Texas. Many buyers who waited have found fewer homes on the market and higher prices, despite mortgage rates creeping upwards after historic lows. If you would like a market video regarding your city or zip code, contact us and we will be glad to provide one.

Comments Off on End of Summer Market Update: Montgomery County

Why Choosing The Right Agent is Important

By |2017-03-13T15:54:53-05:00March 4th, 2013|Advice|

Choosing an agent is crucial. Here are some things to consider when selecting a real estate professional. Choosing an agent is crucial. Here are some things to consider when selecting a real estate professional.

Are you planning to buy or sell a home in the near future?  Choosing your agent is critical. Whether you’re a first time buyer or seller or a seasoned veteran, you want to make sure your agent is a professional.   When considering your agent selection, ask yourself if he or she is:

  1. Available. When you reach out to a potential agent, is he or she available to answer the phone or call you back within a reasonable time?  If you’re selling you want to know that potential buyers can reach your agent.

  2. Visible. What marketing plan does your agent provide?  Does your agent have the ability to properly promote your property and attract potential buyers?   If you are buying, does your agent have insight into homes that are available and meet your criteria?

  3. Knowledgeable. If you’re buying, how much knowledge does your agent have about the area?  Is he or she willing to do the homework to provide you with any answers for your concerns?  Will your agent advise and guide you throughout the process?  Will he or she provide you with a list of helpful references such as inspectors and handymen?

  4. Experienced. Working with an agent who understands negotiating and performs on […]

Comments Off on Why Choosing The Right Agent is Important
Go to Top