West End Realty - Houston Real Estate Blog

December marks the seventh consecutive month of increased home sales; 2011 bests 2010 in sales volume and pricing

HOUSTON — (January 17, 2012) — After several months in which home sales figures were skewed by the effects of the 2010 homebuyer tax credit, the Houston real estate market concluded 2011 solidly in the black. December marked the seventh straight month of increased home sales and the month contained a host of indicators suggesting a healthy start to the new year. Prices of single-family homes across Greater Houston for full-year 2011 were up slightly from 2010. The median price reached an all-time high for a December in Houston and months inventory hit its…

HOUSTON HOME SALES REMAIN IN POSITIVE TERRITORY FOR A SIXTH STRAIGHT MONTH

November prices are mixed as indicators reflect a healthy year-end market

HOUSTON — (December 20, 2011) — Consumers kept the Houston real estate market humming in November, accounting for the sixth consecutive month of positive home sales this year. The year-over-year increase in single-family homes sales, along with another rise in pending sales and further decline in months inventory, reflects a market that continues to benefit from a healthy absorption of housing inventory as 2011 winds down.

November sales of single-family homes rose 11.4 percent versus one year earlier, according to the latest monthly data prepared by the Houston Association of REALTORS® (HAR).…

OCTOBER MARKS THE HOUSTON AREA'S FIFTH CONSECUTIVE MONTH OF POSITIVE HOME SALES

Average price hits an October high as increased pending sales and declining months inventory signal ongoing market stability

HOUSTON — (November 16, 2011) — The Houston real estate market has added reason to be grateful this Thanksgiving season after logging a fifth straight month of positive home sales in October. The year-over-year increase in single-family homes sales, coupled with a rise in pending sales and continued decline in months inventory, signals a market that is benefitting from a healthy absorption of housing inventory. Adding to the positive report is an average price that achieved an all-time high for an October in Houston.

According to the latest…

If you have ever been involved in a “he said, she said” dispute with a landlord or tenant about the condition of a rental property, then you know how costly and frustrating it can become if there is a dispute about the return of the deposit.  One of the best ways to ensure the return of your security deposit in case there is a dispute at the time of move-out is to document everything when you move-in in writing and by photographs.  Some states have forms called move-in condition forms which the tenant and landlord fill out at the beginning of the lease to document the condition of the property.  Both the landlord and tenant must sign it.

In March 2009, Jax Kneppers founded Imfuna which has developed a great solution to the landlord/tenant…

When you buy a home these days, it is more important to protect yourself from those pesky unexpected surprises.  When you put an offer on the table for a home you should include an inspection contingency, the wording should be broad enough to allow for you to inspect whatever you think may be necessary so that you are confident in the home’s condition that you are buying.  If you do find issues with the home that can’t be corrected or ones for which the seller refuses to find a solution, you should have the option to withdraw your offer and have the escrow funds returned.  Ask your realtor how you have this option in your contract.

Generally, a home buyer should have the home inspected by a pest control inspector (for termite damage) as well as…

Average and median prices reach September highs; market on "strong footing"

HOUSTON — (October 18, 2011) — Houston temperatures finally cooled a bit in September, but home sales remained hot. Sales of single-family homes climbed nearly 17 percent when compared to one year earlier and accounted for the fourth consecutive month of increased sales volume. The prices of those homes achieved all-time highs for a September in Houston. In addition, months inventory fell to the lowest level since May 2010 while pending sales rose and active listings declined. All are considered signs of a healthy and balanced housing market as the fall season gets underway.

According to the latest…

According to Houston Association of Realtors (HAR,) there is a revised version of the Seller’s Disclosure Notice (form 1406) that will be mandatory to use as of September 1, 2011. This new version has added entries for “a single blockable main drain in pool/hot tub/spa” as well as the definition of this condition, “any rainwater harvesting system connected to the property’s public water supply”, and a place to designate whether any liquid propane gas is “on property” or if it is “community (captive)”.

According to a report by the Houston Association of Realtors (HAR) in September 2011, the homestead exemption application process in Texas will become a little bit more complex. As of September 1, 2011 the new rules that the Texas Legislature approved in regards to mandatory disclosure of homestead exemptions will go into effect.

Homestead exemption applicants before September 1 had to simply fill out an application but now the new rules require them to provide a copy of their Texas driver’s license or Texas issues identification card as well as a copy of their vehicle registration receipt.

According to the Harris County Appraisal District the addresses shown on all of the newly required documents must also be the same…

Washington, DC, July 20, 2011

Existing-home sales eased in June as contract cancellations spiked unexpectedly, although prices were up slightly, according to the National Association of Realtors®.

Sales gains in the Midwest and South were offset by declines in the Northeast and West. Single-family home sales were stable while the condo sector weakened.

Total existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, declined 0.8 percent to a seasonally adjusted annual rate of 4.77 million in June from 4.81 million in May, and remain 8.8 percent below the 5.23 million unit level in June 2010, which was the scheduled closing deadline for the home buyer tax credit.

Lawrence Yun, NAR…