HAR’S Latest Report….

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 monthly data prepared by the Houston Association of REALTORS® (HAR), October sales of single-family homes rose 9.1 percent versus one year earlier. All segments of the housing market, from the sub-$80,000 to the $500,000 and above, experienced growth. On a year-to-date basis, sales were up 3.4 percent.
“The further we distance ourselves from last year’s tax credit as we analyze the local housing data, the clearer an indication we get of market performance, and the latest numbers show a healthy sales climate for an autumn in Houston,” said Carlos P. Bujosa, HAR chairman and VP at Transwestern. “As long as the Houston economy continues to strengthen with additional job growth, we can be cautiously optimistic about the state of the housing market going into the new year.”
The average price of a single-family home rose 1.1 percent from October 2010 to $208,506, the highest level for an October in Houston. The October single-family home median price—the figure at which half of the homes sold for more and half sold for less—was unchanged from the October high of $150,000 it reached in 2010.
Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 6.0 percent year-over-year in October. Foreclosures comprised 22.0 percent of all property sales, up slightly from the 19 to 20 percent range they have maintained since May of this year. The median price of foreclosures in October was flat at $80,600.
October sales of all property types in Houston totaled 4,815, up 8.9 percent compared to October 2010. Total dollar volume for properties sold during the month rose 10.9 percent to $962 million versus $867 million one year earlier.

First Time Home Buyers, Baby Boomers and All of the Rest!

If you’re an avid reader of my blog, you know that I’m all about statistics. Did you know that over the past year the amount of first-time buyers have dropped significantly? In fact, 4 in 10 of all home sales over the past year made up the first time buyer population, which brings them to 37%. If you look at this statistic from a regional standpoint, the South and Midwest had the smallest amount of first-time buyers with 34% as compared to the Northeast with 43% and the Western Region of the U.S. coming in at 42%.

How Do You Help Buyers Buy in Such a Bad Real Estate Market?

Below is an article that I had the honor of writing for the Houston Chronicle.

I can answer that question in three words: Educate…Educate…Educate
My buyers always start out a little apprehensive, but once they see past the gloom and doom of what is being reported in today’s economy, they realize very quickly that they have an incredible opportunity they can take advantage of.
In Houston and in surrounding areas, including Katy and Richmond, you can find one of the most inclusive price spectrums imaginable when looking at residential real estate. Buyers can find homes from under $100K all the way up to multi-million dollar residences. The surrounding areas of Houston showcase gorgeous neighborhoods including Cinco Ranch, Lakes of Bella Terra, Firethorne, and the list goes on and on.
Today’s buyers are shocked when I take them out to see what is really going on in our real estate market. Homes today have all of the latest luxury and energy saving features as well as huge incentives. The financing options are discussed with my experienced team of lenders. We all sit down and talk about the loan process and which loan product will work for them and their life style. It’s unbelievable that we are seeing loan products, at fixed rates under 4%.
My job as a Realtor is to educate my buyers about the home buying process and make their home buying experience as seamless as possible. The Houston real estate market is booming. Buyers are out there and they are taking advantage of unbelievable opportunities before it’s too late.
Candice Skoby is a Realtor at Keller Williams Premier Realty in Katy and can be contacted at 281-682-2555 or www.candiceskoby.com.

Thank you to all of our Veterans!

On Veteran’s Day, we pay tribute to the men and women who have worn the uniform of the United States Armed Forces. We are grateful for their acts of bravery; serving selflessly and preserving our freedom.
They have truly shown the heights to which Americans can rise when asked and inspired to do so and we can all learn something from their courage.
I hope you will take a moment today to commemorate the patriots who have risked their lives to preserve our Nation, the families who support them, and the heroes who are no longer with us – especially those who are members of our precious Keller Williams family.

23631 Certosa, Richmond, Texas 77406

LOCATION….LOCATION….LOCATION

This gorgeous home must be sold by the end of the year! We have just reduced the price and if you are interested, I can help you save thousands more. This elegant custom property is located in the gated section of The Lakes of Bella Terra and is loaded with over $64,000 dollars of Luxury Upgrades! Call Candice at 281-682-2555 for your private tour or go to www.candiceskoby.com for additional information, pictures and a virtual tour.

AWARD WINNING SCHOOLS! OUTSTANDING LOCATION! ONE OF THE HOUSTON AREAS MOST SOUGHT AFTER NEIGHBORHOODS!

ARE YOU THINKING OF GETTING A LOAN TO PAY OFF YOUR PROPERTY TAXES?

HERE IS THE LATEST RECOMMENDATIONS FROM THE BETTER BUSINESS BUREAU BEFORE YOU TAKE OUT THAT PROPERTY TAX LOAN!

•Call the taxing agency first. Most government agencies are willing to create payment plans and make other arrangements with those behind on tax payments. Certain individuals may even qualify for a property tax deferral. The homeowner should make sure every means of assistance available through the agency has been exhausted before considering a loan.

•Understand the process. A property tax loan provider will pay off the taxing entity, but that doesn’t mean taxes are paid. The tax lien simply transfers to the private lender.

•Pay attention to the terms. Find out how much, in total, the private lender will charge in interest and fees. The homeowner could end up paying more than he would have paid the taxing entity.

•Check other avenues. A property tax loan provider is not the only option. Check with banks for a lower-interest loan, or see if the balance can be paid with a credit card. The interest rate may be higher with a credit card, but the homeowner will keep the home should he default or file bankruptcy.

•Consult an attorney. A lawyer can help the homeowner negotiate with a taxing entity and understand the terms of a property tax loan, or help the homeowner decide whether or not to file bankruptcy. Texaslawhelp.org provides information to help those who cannot afford legal counsel, and can help find low-cost representation.

•Check out a lender’s BBB business review at bbb.org to see how many complaints have been filed against it before doing business. Also ensure the lender is licensed by the State of Texas.

Sale’s Dropped in June

The Real Estate Center at Texas A&M, is reporting that existing single-family home sales in Texas dropped 2% from a year ago, based on MLS statistics.     In the month of June, there were   21,570 single-family homes that were sold.  

When you analyse last years numbers with this years, it’s important to remember that last year prices catapulted due to the first time home buyer tax credit.   In my opinion, this summer’s statistics are much more realistic. There is nothing to cause a false increase in the value of homes, like we saw last summer.   Our economy is still weak, but now we are starting to stabilize and have moved away from using credits/bailouts/stimulus’s to create a false sense of security in our real estate market.

New Listing: 6526 Evening Rose

Check out this new Single-family property that I just posted on my Web site. It is at 6526 Evening Rose in Katy. This Single-family property has 3 bedrooms and 2 baths. Ready to move in! Beautiful 3 bedroom 2 bathroom home. Huge fenced in backyard with no neighbors backing to the property!.

Under Contract

Check out this new property that I just posted on my Web site. It is in Katy. WoodCreek Reserve is a 500 acre master planned community in the city of Katy, Texas. The neighborhood has quickly become one of the most sought after addresses in the West Houston area and includes an outstanding residential amenity package, exceptional Katy ISD schools and a convenient location. Amenties in WoodCreek Reserve include pool, splash park, baseball park, basketball court, tennis courts, lakes, walking trails and more!.

Open House on June 12, 2011 at 2226 Arrowwood Trl

On June 12, 2011 at 14:00 PM, you are invited to an Open House at 2226 Arrowwood Trl in Katy. If you are looking for a Resale – single family property in this area, don™t miss this rare opportunity to visit this magnificent property. For a preview of this Resale – single family property, check out my site at http://www.candiceskoby.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

Open House on June 11, 2011 at 24319 Condors Nest

On June 11, 2011 at 14:00 PM, you are invited to an Open House at 24319 Condors Nest in Katy. If you are looking for a Single-family property in this area, don™t miss this rare opportunity to visit this magnificent property. For a preview of this Single-family property, check out my site at http://www.candiceskoby.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.