Real estate in Houston, Texas
Time is running out for you first time homebuyers or anyone who hasn’t owned a home is three years. The $8,000 that does not have to be paid back will expire on December 1, 2009. Now as I understand it, you have to close on the sale of your home before Dec. 1 [...]
Filed under: Buying, Home Sales by Dwight's Real Estate Update
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The second quarter of 2009 shows the market adjusting with declines in the number of sales and active listings from the same time in 2008, presenting a balanced supply of housing. With a balanced supply, comes stable pricing. In June the mediam price for a single-family home reached a record high of $164,500. [...]
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The sales from the first quarter of 2009 still show a decline from the first quarter of 2008. Closed sales totaled 3240 in January, 3995 in February and 5022 in March. Compared to the total sales for the first quarter of 2008, the 2009 figures are off 23.3 percent. As [...]
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This past week, rates for a 30 year fixed rate mortgage fell below 5 percent. This was mainly caused by the Federal Reserve putting more funds into mortgage backed securities held by Fannie Mae and Freddie Mac.
There are still some problems in home financing these days, but this definitely helps. If rates will stay low, [...]
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In the American Recovery and Reinvestment Act of 2009 (aka Stimulus Plan), the Federal Government amended the first time homebuyer tax credit given by the Bush Administration in 2008. The new act increases the $7,500 tax credit to $8,000 and will be eligible on home purchases after December 31, 2008 and before December 1, 2009.
The [...]
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Sales data from the Houston Assn of Realtors shows that sales of single-family homes dropped to a total of around 2,800 for January 2009 and the average price also dropped to around $164,000. The highest total for single-family sales in the month of January was in 2007 when the total was 4,017. That was up [...]
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According to the recent press release from the Houston Assn of Realtors, property sales in the Houston area declined further in September, due largely to the widespred devastation caused by Hurricane Ike and the resulting interruption to many real estate transactions.
As in previous months, the average price of a single-family home held its ground. In fact the [...]
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A little bit of good news. New home sales across the country increased 2.7% in september. It’s too early to say if this is a trend, but it is good to see positive news. Overall new home sales had been down 33% for the year. Builders have been making some progress in moving out the [...]
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Just a quick note here to remind you that it’s a great buyer’s market in many places and now may be the best chance to buy low and sell high later on.
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With another decline in total sales, it appears that many home buyers are sitting on the sideline waiting to see what happens in the economy, mortgage rates and maybe even the election in November.
The results for August 2008 from the Houston Assn of Realtors show the month’s total sales as 6,641 of all property types. [...]
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