Archive for the ‘Market News’ Category

New Home Industry in Houston Shows Signs of Recovery

Monday, October 5th, 2009

The number of new housing permits has slowly increased over the last, several months, indicating a possible bounce back of the new home industry in Houston.

Houston homes

Although new home permits are just one indicator of a rebounding market, they are nonetheless a positive sign in an otherwise struggling industry.

Some industry analysts equate the boost in new home permits to the $8,000 new homebuyer tax credit, which is coming to an end in just a couple months. If this is the case, however, then the industry may experience a drop-off once the tax credit expires.

As of August, Houston builders received 2,428 permits for single-family homes, townhomes and condominiums, which is an increase of 7.5 percent from a year earlier.

This is good news for Houston builders who, for the better part of the year, have had to cut their production schedules as credit was harder to come by and buyer demand fell off.

Make no doubt about it; the market is still a strong buyer’s market, and new home developers are offering plenty of concessions and upgrades for those buyers willing to take the leap into building a home.

Numbers are expected to remain better than last year, however, when the hurricane and the financial crisis caused a swift drop-off in new home sales. However, the lack of jobs may play a large part in the overall picture of the new home industry this year. In fact, Houston lost 95,100 jobs just between August 2008 and August 2009, putting a strain on an already-strained economy.

If you are in the market to build or purchase a new Montrose home, consider that there are many buyer incentives and price reductions to be had. Combine that with low interest rates and the new homebuyer tax credit and you may just be in the perfect position to purchase your first Montrose property.

New Home Developments Continue to Flood the Real Estate Market in Katy

Monday, August 17th, 2009

Katy is certainly a town poised on the verge of record-breaking new home developments in West Houston. In fact, this area is currently home to a handful of new developments and master planned communities which boast plenty of upscale, residential living. Just some of the new developments in Katy include:

  • Cinco Ranch
  • Wood Creek Reserve
  • Grayson Lakes
  • Firethorne
  • Seven Meadows
  • Grand Lakes

Highlight on the Avalon at Seven Meadows

A fine example of the communities of Katy is the Avalon at Seven Meadows, a gorgeous, golf course community which boasts properties with views of picturesque lakes and the Meadowbrooks Farms Golf Club, a Greg Norman designed championship golf course. In fact, 96 percent of homes in the Avalon at Seven Meadows will either have a lake or golf course view.

The gated community of Avalon at Seven Meadows also features quiet, private streets which wind throughout the area’s 860 acres. Other community features include a clubhouse, hiking and biking trails, a swimming pool, children’s playgrounds, picnic areas, tennis courts, 28 acres of lakes, a six-acre, central park and a sweeping greenbelt.

Residential Construction

The homes of Avalon at Seven Meadows all feature outstanding construction and include such design features as insulated interior walls, structurally engineered frames, high-efficiency heating and cooling systems, double-pane, low-E windows, fully sodded lawns with sprinkler systems, cedar garage doors and programmable thermostats.

Interior Features

Homes within Avalon at Seven Meadows feature beautifully designed interiors. Just some of the features of the interiors within Avalon at Seven Meadows include direct-vent fireplaces, maple cabinets, granite countertops, stainless steel appliances, walk-in pantries and oversized master suites with whirlpool tubs and his/her vanities.

Homes in Avalon at Seven Meadows typically feature four to five bedrooms, four to six bathrooms and 4,200 to 5,800 square feet. Home prices typically range between $850,000 and $975,000.

Sugar Land’s Newest Home Communities

Monday, August 10th, 2009

Did you know that Sugar Land was ranked as the fastest growing area of Houston and was recently named “One of the Nation’s Best Places to Live” by Money Magazine?

If fine Houston living is what you’re looking for then Sugar Land is the place for you. This full-service municipality is located just 20 miles southwest of downtown Houston, thereby making it a popular place to call home for many Houston professionals.

Sugar Land boasts some of the best schools in the state, and also features great community services such as libraries and civic organizations. The newest home communities of Sugar Land reflect the quality and superb lifestyle experience that Sugar Land is best known for:

Riverstone

The community of Riverstone is an outstanding, 3,700-acre master-planned community within Sugar Land that boasts more than 6,000 homes and more than 18,000 residents.

The setting of Riverstone is exceptional, as it is designed around 250 acres of open land with lakes, water features and resort-style amenities. In fact, there is over 500 acres of green space in Riverstone, thereby making this new community a top spot for Houston families.

Just some of the community amenities of Riverstone include a fishing pier, tennis courts, playgrounds and more than 24 miles of walking and jogging trails. The location of Riverstone is also ideal, as it is located near Houston’s major, medical centers, as well as the excitement and opportunity of a big city.

Telfaira

Telfaira is Sugar Land’s newest community that will feature the best in Texas charm and sophistication. The homes of Telfaira are superb, and the surroundings are equally as impressive. Beautiful, flowering landscapes, water features and architecturally detailed bridges and iron work throughout the community will make Telfaira a truly picturesque place to call home.

Just some of the community amenities of Telfaira will include three recreation parks, 70-acres of stocked lakes, swimming pools, a splash park, tennis courts and playgrounds.

The Conroe Real Estate Market: Poised for Tremendous Growth

Tuesday, August 4th, 2009

Known as the Northern gateway to Houston’s metro area, Conroe is a dynamic town that was, not too long ago, known for its wooded lands and open prairies. As the county seat of Montgomery County, Conroe is a town poised for substantial growth; yet all the while maintaining its quiet, small-town feel.

Residential Real Estate Sector

From its revitalized downtown area to its substantial growth in the commercial sector, Conroe is a community to watch, as real estate can only soar upward as impressive growth begins to take hold.

As of June 2009, the average price per square foot for a residential home in Conroe was $75, an increase of almost 38 percent from just three months earlier. The median sales price for a home as of June 2009 was $100,000 and the average listing price was $280,758.

The historic town square of Conroe, coupled with its many downtown attractions, such as the Conroe Symphony Orchestra, Lampros Gallery and Wilson’s Performing Arts, has encouraged residential development. The result: an influx of new, residential home developments, which have attracted a wide array of homeowners. Conroe, in addition to its new home communities, also boasts some pretty impressive ranch estates near Lake Conroe.

The Perks of Living in and Visiting Conroe

Conroe is conveniently situated just 40 miles north of Houston, and is a popular weekend getaway for many Houstonians. It is home to a nice variety of resorts, such as the La Torretta Del Lago Resort. Just some of the activities enjoyed in Conroe include live theater and entertainment, golfing, dining at one of the many upscale restaurants and nightclubs, museums and, of course, partaking in the fun and excitement along Lake Conroe.

In fact, the 22,000-acre Lake Conroe is a prime spot at which to fish, swim, canoe and kayak.

Combined with a low cost of living and low taxes and it’s easy to see why so many Houstonians have flocked to Conroe to get in on a piece of the suburban pie.

The Future of the Houston Real Estate Market

Tuesday, May 26th, 2009

The nationwide recession and credit crisis has left many cities around the US struggling to keep their heads above water, and Houston is no exception.

Industry analysts have seen Houston-area home sales continue to drop and the housing market slip further into the hole of the recession. In fact, sales of Houston-area homes have dropped for 21 straight months, and it looks as if this trend will continue for the second half of 2009.

A bright spot, however, is the fact that home prices are holding their own. For example, the median price for a single-family home in Houston this year is $149,050, compared with $150,000 from a year ago.

It is with this knowledge that industry analysts are positive when speaking of the future of Houston’s housing market. Where other cities in the country have seen home prices tumble, Houston has remained strong and steady, thanks in part to the fact that the housing boom and inflated housing prices never took over.

In addition, foreclosure sales continue to decline, indicating an improvement in the market. For example, foreclosure sales made up about 25 percent of all single-family home sales in April, which is a decline from 34 percent in January.

Houston’s Struggles

Houston is having a tough year. As the demand for oil decreases due to the nation’s financial crisis, the energy capital of the US is certainly going to be hit hard.

In fact, Houston expects to lose about 60,000 jobs over the next two years as a direct result of the lack of demand for oil.

This news, of course, doesn’t bode well for the economy of Houston or home sales, for that matter. A beacon of light for Houston are the historically low interest rates and first-time home buyer tax credits which are luring buyers off the sidelines and into the market.