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 

See All Homes for Sale in the Houston Area

Luxury Homes for Sale in the Houston Area and the Surroundings

Luxury Homes for Sale in the Houston Area and the Surroundings

What are the benefits of owner financing to buyers and sellers?

Buyers With 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. Qualification The 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 Credit With 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 Costs An 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. Closing Going 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. Sellers For 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. Price With 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. Downpayment Seller 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. Closing As discussed under the buyers section, closing can be done in a matter of one week. See Owner Financing homes for sale in Houston, Sugarland, Missouri City, Spring, Katy, Pearland and surrounding areas

For more information, contact Jimmy Jimmy Farag, REALTOR Realm Real Estate Professionals Phone: (832) 303-5000 Cell: (832) 744-7424 Fax: (281) 598-5402 Homes for Sale in Sugarland TX www.SellMyHouseJimmy.com www.HoustonHomesforSale-Here.com www.HoustonForeclosureHomesFree.com

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   Jimmy Farag, REALTOR Realm Real Estate Professionals Phone: (832) 303-5000 Cell: (832) 744-7424 Fax: (281) 598-5402 Homes for Sale in Sugarland TX www.SellMyHouseJimmy.com www.HoustonHomesforSale-Here.com www.HoustonForeclosureHomesFree.com