Archive for May, 2008
Houston Is The Place To Be
May 29th, 2008 categories: Houston, Houston Real Estate
While many of us were born and raised here in the Houston area and understand all that this great city has to offer, newer residents may still be in the learning phase. After all, this is a huge city and it can be somewhat overwhelming for a fledgling Houstonite. Last year, MSNBC actually rated Houston to be #3 on its list of the Top Underrated U.S. Cities. I agree and therefore feel compelled to help the newbies along in their research and explain why this city is such a wonderful place to live!
After a 6 year stint in the city of Austin, TX, I decided to make my way back home to the Bayou City. To this day I still get the comment, “Why on earth would you move from Austin to Houston??” I’ll tell you why. The first factor in my decision was the job market. The job market here in Houston is phenomenal. Consider the following… Houston is the number one US city for job growth, the lowest cost of living, and the fastest growing companies. It is number two for the best business climates in the nation and number three for Fortune 500 headquarters. I would say that the statistics speak for themselves but I’ll keep going anyway.
Due to the job and population growth here, the housing market has continued to hold strong here in Houston. With so many companies relocating employees and the oil industry being what it is today, the housing market here has been able to withstand the stresses of the national mortgage “crisis”. Property values are holding steady or increasing, interest rates are down and this is just one more reason living here is living smart!
Another little known fact about Houston is that it has a booming young professionals community. While Austin is known to cater to the freshly graduated, I would rank Houston even higher on the list for those who are looking to embrace life beyond campus. There is something here for everyone (any age) and there is always something to do whether you want to learn a little something (try the Museum District), watch a little something (check out the Theater District), do a little something (check out Memorial Park, Terry Hershey Park or the new Discovery Park downtown) or drink a little something (pick one of thousands of fabulous little watering holes). While I could have added “eat a little something” to that list, the restaurants in this city deserve their own sentence. We have the best food in this city than any other city I have ever visited. Also, I consider myself to be an experienced shopper and this city has it all in the way of shopping. Everything from fashion to antiques! The point is that Houston has so much to offer for entertainment’s sake I have never heard anyone in this city say they were bored. Now that’s saying something.
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Houston Real Estate - April 2008 Market Review
May 26th, 2008 categories: Houston Real Estate, Market Stats
Houston’s Real Estate Market Shows Continued Pricing Strength In April Despite A Lingering Sales Slowdown
The average single-family home sales price increases for a third straight month to the highest level ever for the month of April
HOUSTON — (May 20, 2008) — Sales of single-family homes across greater Houston slid in April, but the average price of those homes increased for a third straight month to the highest level ever for the month of April and 2008, according to statistics released by the Houston Association of REALTORS® (HAR). The average price surpassed its level in April of 2007, the second best year on record. Single-family home sales fell 11.0 percent on a year over year basis.
The average price of a single-family home rose by 0.9 percent last month to $207,270 from $205,490 in April 2007. The median price of a single-family home was stable at $150,000. Sales of all property types for April 2008 totaled 6,432, which represents a 12.8 percent drop compared to April 2007. Total dollar volume for properties sold during the month was recorded at $1.3 billion versus $1.4 billion one year earlier, a 9.9 percent decline.
“Coming off of two consecutive record years, the Houston real estate market is demonstrating relative stability while other cities continue to suffer dramatic declines in both sales and pricing,” said Michael Levitin, HAR chairman and principal of HTownRealty.com. “We avoided a bubble thanks to Houston’s history of moderate growth in home values. The healthy local job market and diverse economy have created dynamics that are conducive to a faster recovery and we anticipate conditions to improve in the second half of the year.”
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Houston Home Sellers take note…. Five COSTLY Mistakes You Need to Avoid!
May 25th, 2008 categories: The Art of the Transaction
Today’s real estate market doesn’t mean it’s impossible to sell your home. Sellers just need to be savvy and not fall prey to common mistakes. The tips below were intended for a national audience but they are applicable, in many instances, right here in the Houston area as well. Here are five missteps Houston home sellers should avoid:
1. Asking Too Much
The single biggest mistake folks make is setting their asking price too high. In today’s down market homeowners need to price conservatively or they risk turning off potential buyers, says Michael Corbett, author of “Ready, Set, Sold.”
Figuring out how to set the price is tricky. Gone are the days when you can expect to sell your home for as much as your neighbor did just six months ago. Existing home prices have fallen 7.7% over the past year, according to the National Association of Realtors. So rather than looking at how much homes in your area sold for six to 12 months ago, compare prices for similar properties currently on the market. If you see a listing for a house that’s sitting unsold for a few months, chances are the owners are asking too much and you’ll want to set your price lower, says Corbett.
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University of Houston Sugar Land Expansion = Exciting Opportunities
May 21st, 2008 categories: Off Beat, Sugar Land
It used to be that earning a college degree meant: a) commuting across town, b) commuting across (or outside!) the state, c) paying exhorbitant costs to do either, or, more likely, d) all or most of the above. And until the University of Houston expanded to include a major offsite teaching center, it used to be that Sugar Land/ Fort Bend County residents had no alternative but travel to earn their degrees.
But in today’s increasingly fast-paced world, higher education no longer means wasted commuter hours! Now, Sugar Land locals can study at a renowned public institution just minutes from home or work! And with a new 145,000 square foot academic building currently under construction, it’s a given that even more higher education and employment opportunities for Sugar Land residents are sure to follow … a sure sign that, despite what you may hear about other parts of the country, some cities in Texas are thriving!
Click here to learn more about UH-Sugar Land and to watch streaming live video of the expansion project. Click here to find out more about Sugar Land and more of its exciting opportunities!
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Downhome Charm in Sugar Land’s Town Square
May 14th, 2008 categories: Off Beat, Sugar Land
Ranked America’s fifth safest city in 2007, it’s little wonder that Sugar Land, TX boasts a small town feel … despite its 30-mile proximity to Houston, America’s fourth largest metropolis.
Nowhere is that small town feel more evident than in Sugar Land’s Town Square, a nostalgic, family-oriented throwback to the village plaza. A modern yet quaint take on this traditional hub, Sugar Land’s newest epicenter houses several stores and is host every weekend to alternating concerts, dances, festivals, and even public talent shows! And judging by its record attendance, the most popular event is arguably the Movie Under the Moon, where families from all over town gather to enjoy first-run features under a starlit sky. Blankets and picnics festoon the plaza during these outdoor broadcasts as neighbors — and, ultimately, new friends– pack the park here in Sugar Land, the picture of downhome Americana.
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