Things are Looking Up!

The April numbers are in, and it looks as though Houston's real-estate market has weathered the storm and things are looking up for the first time in two years!
There were 6,200 Houston-area homes sold in April, which is an increase of 26.7% from April 2009. March sales were up as well, meaning the positive trends are sticking. Mortgage rates have dropped to their lowest point at 4.84% so it is definitely still a buyer's market and going strong! Houston's own Royalton has very ambitiously predicted that they'll sell up to 35 units this year alone at $230/SF and be completely sold out by 2011.
It's not just in Houston. The national housing market says existing home sales were up 7.6% in April. Home builder confidence is up as well for the first time since 2007.
But experts are still reluctant to declare a full recovery because of the expiring tax credit at the end of April. There's also the matter of unemployment. It was reported at 9.9% this morning. Skeptics also say the BP Oil Spill will put a damper on Houston's energy businesses.
So although things may be looking up, many are still saying it's not exactly "black and white" yet, but there are still shades of grey - as is life!

May 2010 Housing Market Newsletter

Just leased a 4 bedroom right off Washington for only $2475/month - that is a steal!

Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

Please click on this link to view the MAY-2010 Newsletter Housing Trends eNewsletter:
http://www.jessicabrewer.housingtrendsenewsletter.com?Newsletter_ID=248&Period_ID=185

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.

It also includes press releases with charts and videos, key market indicators and real estate sales and price statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.

If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report:
http://www.jessicabrewer.housingtrendsenewsletter.com?Newsletter_ID=248&Period_ID=185

Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future.

Complexes

I have just come back from a long weekend in New Orleans for the International Jazz and Heritage Festival. It was TOO much fun! I always have a blast in New Orleans and the food is just amazing no matter where you go in the city. I had never attempted to go to the festival before because I had been warned about how crowded it gets, and they were right! It was a Mardi Gras type crowd but with fold up chairs, if you can imagine. But it was all worth it because I finally got to see Pearl Jam. They were awesome live!
Anyways, last week I went all around looking at new high rises and apartment complexes because lately I have been getting a handful of clients that inquire about both these and stand-alones so I wanted to get to know that market a little better. My two favorites were the Gables West in Upper Kirby and the Windsor at Siena.
The tour at the Gables was definitely my favorite of the two. Being right across from Whole Foods and walking distance from Cafe Express and Pesce, I fell in love! I first saw their smallest two bedroom which starts around $2000/month. The two things that stuck out the most for me were the indoor window in the living room and the surround sound with IPod capability near the desk and kitchen areas. Then, I was taken to the smallest one bedroom which starts around $1300/month. There was plenty of storage and it was the perfect size for a young professional or couple in the city. I was amazed to find that all units have the surround sound with IPod hook-ups, a nice sized built-in granite and wood desk, dark hard wood floors, stainless steel appliances and two-tone granite counter tops. Finally, I was taken to the top floor where they had state-of-the-art amenities that blew all the other complexes I had seen out of the water! There was an infinity pool with lounge chairs in the water and a very large BBQ pit surrounded by tables and lounges. Overseeing the pool was a business center and study equipped with computers, printers and faxes. On the other side of the pool was a fabulous kitchen where tenants can host parties and occasionally the building conducts cooking classes for all to come learn and enjoy. Across from the kitchen was a miniature theater. I had never seen this before in a high rise! It had a small popcorn machine in the back with candies to choose from and actual theater seating. On our way out, I was shown around the fitness room which had cardio machines each with its own TV, weights and a studio area for classes. Another unique aspect of this complex was the fact that there was a sky-walk on each level from the main building to it's adjacent second building. I was very impressed to say the least!
I also ventured to the Windsor at Siena last week and it was my second favorite because it was great pricing for the location and the amenities offered, which is probably why it's 97% occupied! I didn't really have to ask for pricing because their website is very accurate. They did mention that the 4th floor is always a little more expensive because of the incredible view of downtown and Bayou Park you will get. The 4th floor also has a gorgeous rooftop terrace with lights, large BBQ pit, chaise lounges and a fire place. Very cozy! The complex is very dog friendly. In fact, you can hop on to a path which leads you directly from the on-site dog-walk trails to the dog park in Bayou Park. During my tour, I got to see each of the floor plans and they all had carpet, tile flooring, granite counter tops, black appliances and transom windows above each doorway. The indoor transom windows really added a southern and elegant feel to each unit not to mention all the natural light allowed in. Aside from the main buildings units, the property also had town homes with their own private garages. There's a waiting list for these, that's how popular they are!
I have now also visited The Ventana Midtown, Midtown Heights, The Lofts at the Ballpark, The Allen House, The Retreat and Bayou on the Bend. All of which are excellent choices if you are looking to live in a community inside the loop and all of which work with realtors so let me know if you're interested in pricing and current deals!

Happy Earth Day!

Today and this weekend there are tons of Earth Day events going on all over town! I have been saying for a while now that I want to visit the Zoo again sometime soon, so what better weekend than Earth Day. Other hot spots include the Space Center, Miller Outdoor Theatre, Minute Maid Park and Moody Gardens.
As always I advocate recycling too, so make today the day you start to recycle at home. You'll be amazed at how much of your trash can be recycled! If you are looking for a place to drop off your recycling, there is a huge site right behind Star Pizza on Washington Ave. They accept everything! Glass, aluminum, plastic, cardboard etc.
Have a green thumb?? I do! We definitely cleaned up our yard, planted new flowers and fixed up our garden this past weekend. Why not spend some time on yours? It's definitely a workout and gets you out of the house into this wonderful Spring weather we've been having. If you are in the Heights, I highly recommend going to one of the many local nurseries for your flowers and vegetable plants. Home Depot definitely had some good deals as well.
Just in case some of you did not know there is now a tax credit for bringing in your old appliances and buying energy efficient ones to replace in your home. This will not only save you money, but it will help the environment. To save even more money and to ensure you are being good to the environment year long, I recommend using Green Mountain Energy for your electricity provider. I switched from TXU and have been saving $10-$50/month since the switch. The bill even gives you statistics on what carbon emissions you have reduced because of the green energy you are using.
Switching over to another form of green, this morning on the Early Show they had a segment on Money Matters regarding the state of the Real Estate market and tips for buyers and sellers. For those who have waited to buy, they should know that the "era of rock bottom mortgage rates is over". The 30 year, fixed rate mortgage is at about 1% higher than it was last year at this time. Remember that a small rise in the rates will mean big differences in monthly payments. Their buyer and seller tips were straight forward:
1. Find a GOOD agent!
2. Sellers need to prepare their home and clean it up!
3. Buyers NEED to be pre-qualified
4. Sellers need to choose the right buyer
I was so glad they mentioned #3. Now more than ever, being pre-qualified is essential to the buying process. This is so quick and painless! You literally fill out some paperwork and wait for a letter. This letter tells the Seller you mean business and that you are the right buyer for their home. Buyers who are not pre-qualified right now, are most likely not going to meet the April 30th deadline, which is a possible $8000 in your pocket! Just some food for thought!

April eNewsletter

APRIL-2010 Newsletter Housing Trends eNewsletter

Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.


The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau and Realtor.org reports, videos, key market indicators and real estate sales statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.

Please click here to view the APRIL-2010 Newsletter Housing Trends eNewsletter.



If you are interested in determining the value of your home, click the Home Evaluator link for a free evaluation report.

High-Rise

Opening Day was fun, but we lost and I have a feeling we're about to be swept by the Giants in our first series of the year... I like to go to baseball games, but oh man, it makes me miss football season! Just incase anyone is interested, this Sunday, the 11th, is take your dog to the ball park day - I bet it will be fun to see all the different dogs everywhere!
Speaking of "openings", a much awaited Highland Tower is starting to move in its first tenants this month. The newest high-rise condo in Houston is located just inside the loop, opposite the Galleria and within walking distance to Highland Village Shopping Center. They have one, two and three bedrooms available for sale starting in the $300s. Of course there are penthouses available, and there have been several buyers who have requested walls be taken down to create their own floor plans with the help of prestigous Ziegler-Cooper Architects, who had a hand in helping the developers at Pelican Builders with the design of the tower. They did a fantastic job!
Construction started in 2008 right before the market declined, and the tower has been able to survive with 35% of the building's 93 units already being sold before tenants could move in! I truly believe this high-rise will succeed in comparison to similar projects such as the Mosaic and the Royalton. Both towers have succumbed to leasing after sales decreased, which drove property values of owned units into the ground and caused lawsuits in some cases... Because of the state of the economy, there won't be construction of another condo tower project in town at least for the next couple of years - meaning, the Highland Tower can claim to be Houston's newest condo for a long time. I'd defnitely recommend this new project to anyone looking to buy a city condo!

Happy Opening Day Astros' Fans!

I am so excited for the Opening Day game this afternoon against the Giants at Minutemaid! It is Roy O's eighth consecutive year to start on Opening Day - way to keep the tradition up. He will definitely have his hands full against Cy Young Winner Lincecum, but I think we got this one!

I almost always mention that it is definitely a buyer's market because I can not stress the importance of taking advantage of this limited time enough. But now reports from this year's first quarter are starting to come in and you can take comfort in the fact that they are proof of my statements NOT just a sales pitch! =) I came across a report from the NAR which says pending sales are on an uprise. The pending sales index is considered to be an indicator for sales in the future. With this, NAR expects existing-home sales to rise 6.5% this year with new, single-family home sales rising only .6% and 56.9% in 2011 - that's a huge leap! Those thinking about buying a home in the next year or so need to know that as it changes from a buyer's market to a seller's, obviously the prices of homes will increase. NAR already says that this year the median purchase price of an existing-home will rise to $177,200 and even reach $184,800 next year. The median sales price for a new, single-family home is predicted to be $221,700 this year and $233,100 next. That's ten grand you could save on a brand new home just by making sure you purchase it in 2010 and not 2011. Just a little food for thought!

Tweet Tweet

I finally joined Twitter. Now you can follow me at www.twitter.com/brewersrealty.com
I was in Atlanta for the first time this past weekend to visit my best friend. We had an amazing time! That city is beautiful! I didn't expect the hills or the gorgeous architecture. It had a small coastal town feel, but it was 250 miles away from the coast, and Atlanta is anything BUT small. She moved there for work this past December, but I bet she'll be back in Texas before too long!
Now that I'm home, it's back to work again. I was checking all my emails this morning and saw that Titan Homes on fbook asked me to become a fan. Their Mediterranean style homes are stunning. Most are located in the Rice Military areas of town and offered at exceptional prices for the Inner Loop (starting in the 300's). It's speculated that 52% of homebuyers this year will be first-timers, meaning great deals in the Loop, such as this, won't last long especially since some predict a housing shortage starting in the next 18 months and lasting over the next ten years. The shortage is caused by a decrease in homes being built. Inventory will slowly become scarce for America's increasing population. Houston is among the cities expected to see a shortage, which is why I can't say enough that it is definitely the time to buy! On a good note, Houston is expected to be on the employment upswing by the end of next year...

To the Rescue

My renters were approved and chosen over the other application last night like I knew they would! The leasing market is really starting to pick up here in Houston especially in the Inner Loop. Personally, I prefer to live in a stand-alone town home or condo as opposed to a complex or high rise just because I have a dog, but the new Gables at West Ave. in Upper Kirby is so chic! Everything you need is within walking distance and they're so cozy you instantly feel at home. With similar developments in the area and the new idea of mixed-use residences, I definitely think innerloop leasing will be hot over the summer!
As for the housing market, it's definitely going well for those looking to buy... Mortgage rates are still at a low and there's still time to get the $8,000 tax credit for first-time homebuyers, which by the way, ends at the end of next month. Although sales prices were on the rise again since this past spring, they are now steadily falling due to all the foreclosures hitting the market nation-wide. There's definitely going to be a decline, but in order to prevent a sharp decline in purchase prices, banks (of all people) are attempting to come to the rescue. The nation's largest recipient of mortgage payments, Bank of America, was first to start assisting homeowners when they unveiled a $3 billion plan yesterday to help some of its most troubled borrowers. Some will be forgiven up to 30% of their mortgage! This plan is really only for those who have underwater mortgages, but I'd say it's definitely a step in the right direction since Bank of America is the first lender ever to attempt to reduce mortgage principal for its borrowers. Guess who jumped on the band wagon today? Citigroup!

New at Bloggin'!

This is my first time Bloggin' (LOL) but everything seems to be all about the social networking scene now. Who knows maybe this will be therapeutic??
Facebook is already a big networking site for me, has been for six years now?! I wonder how much procrastination that amounts to? I just added myself to Yelp and I'm contemplating a Twitter account... I always said I wouldn't get sucked into it but I almost think it's impossible not to especially when it can give you an edge to your business.
As far as business goes, I had 2 showings this past week and one of them already put in an offer. I am waiting for approval on a very nice town home in the Heights for a great couple who just moved to Houston this past year. I couldn't believe the deal they got! Compared to my own rental in Shady Acres, they got a steal!
I also read an article my Broker posted entitled: Best Cities for Borrowers. Houston was on there! This means all our homebuyers get better average mortgage rates. The city never really saw "cascading" real estate prices which would have led to late payments and eventually more foreclosures. Instead we had less foreclosures, meaning more people could refinance their home and not drown in significant home debt. Keep up the good work!
Today's Lesson:
1. Social networking is taking over
2. There really are great deals out there!
3. And if you know someone thinking about moving, let them know now is the time to do so especially if they're thinking of relocating - I couldn't think of a better city!