Looking to Buy, Sell or Lease Houses in Houston, Sugar Land, Katy, Cypress, Spring, Pearland & more, and all the valuable resources as neighborhood finder, school finder, free home valuation & more.
Monday, July 16, 2012
Monday, July 9, 2012
Market Analysis of Vicksburg in Missouri city
| MISSOURI CITY MARKET ANALYSIS | ||||
| This is the market activity in Vicksburg Subdivision and Missouri City TX in 2012 as of 7/9/2012 | ||||
| There are two subdivisions in Missouri City, Vicksburg Village of Cumberland and Vicksburg Village of Shiloh. They have a total of 510 homes combined. The median year built is 1990 | ||||
| Vicksburg | Missouri City TX | |||
| Homes for Sale | 14 | 490 | ||
| List Price | $98,500 - 217,500 | $30,000 - 1,799,999 | ||
| Foreclosures or Short Sales | 2 | 68 | ||
| % of Foreclosure of Homes for Sale | 14% | 13.87% | ||
| Houses SOLD | 11 | 608 | ||
| Sale Price | $100,000 - $185,000 | $21,000 - $855,000 | ||
| Average Days on Market | 50 days | 86 days | ||
| Average Price per Sq. Ft. | $46.63 | $68.67 | ||
| This information is about the Homes in Vicksburg and Missouri City TX, the analysis can vary from one neighborhood to another. For more information about the market analysis in your neighborhood, please feel free to contact me any time for FREE consultation. | ||||
| For more information, contact Jimmy
| ||||
Thursday, July 5, 2012
Thursday, June 28, 2012
Are Houses Selling in Houston?
Are Houses Selling in Houston?
With the uncertainty in today's economy, home sellers are wondering if the houses are selling in the Houston area.
I would like to tell you that the Houston Market is strong and not like the east and west coasts. Home prices might have dropped in some areas because of foreclosures and short sales but we are talking about 10-15% of the whole real estate market in Houston.
Here are the homes sold sorted by price range in the Houston Area in 2011 compared to the home sales in 2010
| Price Range | 2010 | 2011 |
|
| Up to $100,000 | 12,073 | 13,462 | 12% |
| $100k to $200k | 21,333 | 20,774 | -3% |
| $200k to $300k | 8,920 | 9,300 | 4% |
| $300k to $400k | 4,015 | 4,415 | 10% |
| $400k to $500k | 2,070 | 2,185 | 6% |
| $500k to $600k | 1,024 | 1,099 | 7% |
| $600k to $700k | 674 | 705 | 5% |
| $700k to $800k | 377 | 433 | 15% |
| $800k to $900k | 274 | 321 | 17% |
| $900 to $1M | 199 | 224 | 13% |
| $1M to 1.5M | 437 | 463 | 6% |
| $1.5M to 2M | 161 | 154 | -4% |
| $2M + | 127 | 143 | 13% |
| Total Homes Sold | 51,684 | 53,678 | 4% |
Currently, the market has a shortage supply which are the houses for sale and good houses can be sold in 10 days.
Would you like to know if houses are selling in your area, please feel free to contact me
What are the benefits of owner financing to buyers and sellers?
BuyersWith the economic conditions in the last couple of years in the country, many people went through some hard times and resulted in loss of credit points. In the same time, banks have been adding more and more requirements and restrictions regarding credit score. People still want to live in a house but don't want to rent and don't have the credit to qualify for a mortgage. So here comes the owner financing as an option. Owner financing or seller financing is a process by which the seller offers to be your mortgage provider. Here are some of the benefits to buyers who are interested in owner financing homes in the Houston area. QualificationThe buyer may have poor credit due to any reason like job loss for a while that made the buyer default on bills, student loans, bankruptcy, divorce, transferred to a new job after a period of unemployment or self-employed who is not reporting the income and cannot meet mortgage requirements. Seller's requirements are less restricted than regular lenders. Improving Your CreditWith the assistance of some escrow agencies, they can report to credit bureaus that the buyer is making payment on the current owner financing loan which should help the buyer improve the credit score in a reasonable period of time. Loan CostsAn additional benefit for the owner financing transaction, the buyer doesn't have to pay all the fees charged by lenders to get a loan. Terms Owner financing terms vary from one house to the other as each house is individually owned and each owner might have different requirements. In general, most of sellers require at least 10% down payment, interest rate can be 7-9% and a balloon payment in 3-5 years. Balloon means that the buyer will need to refinance with regular mortgage in 3-5 years. ClosingGoing through a mortgage company, it can easily take 40 days to close on a house. With owner financing, the whole process can be done in a week. SellersFor Home sellers, they are also been affected by the restrictions imposed by lenders and waiting for 2-3 weeks hoping that the underwriter will approve the loan but unfortunately when the loan process goes south, the seller has to restart the whole process again with a new buyer. That being said, so sellers have to consider some creative ways like owner financing to sell their house. PriceWith owner financing, the seller is offering a lot easier qualifications than a lender which gives the seller the privilege of asking for the full market price for the house. DownpaymentSeller may ask for a downpayment that covers the broker fees, the closing costs, and some extra cash in hand. Also, with the use of the escrow agency company, they can service the loan for the seller with some small fees (usually charged to the buyer) they will collect the monthly installment from the buyer and pay the original mortgage of the seller which provides peace of mind for both the buyer and seller. ClosingAs discussed under the buyers section, closing can be done in a matter of one week. | ||
| For more information, contact Jimmy
|
Market Analysis for Coles Crossing neighborhood in cypress, tx
| CYPRESS MARKET ANALYSIS | ||||
| This is the market activity in Coles Crossing Subdivision and Cypress TX in 2012 as of 6/13/2012 | ||||
| Coles Crossing | Cypress, TX | |||
| Homes for Sale | 38 | 1003 | ||
| List Price | $169,900 - $440,000 | $54,900 - 1,437,000 | ||
| Foreclosures or Short Sales | 7 | 90 | ||
| % of Foreclosure of Homes for Sale | 18% | 8.97% | ||
| Houses SOLD | 46 | 243 | ||
| Sale Price | $152,000 - $875,000 | $39,000 - $870,000 | ||
| Average Days on Market | 53 days | 59 days | ||
| Average Price per Sq. Ft. | $85.56 | $54..67 | ||
| This information is about the Homes in Coles Crossing and Cypress TX, the analysis can vary from one neighborhood to another. For more information about the market analysis in your neighborhood, please feel free to contact me any time for FREE consultation. | ||||
| For more information, contact Jimmy
| ||||
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