The Houston Real Estate Update

The images are heartbreaking, and the thoughts of lives lost are sickening, so how can we help?  If there is one thing I have noticed since living in Houston, is that this city steps up to the plate.   They know how to support each other in tough times, through hurricanes, through supporting our community in financially tough times, to supporting fallen soldiers as well as celebrating their return, Houston responds.

When Houston does it, they do it big. Radio stations, local non-profits, grocery stores, and local businesses all are doing their part, so how can you play a role?  I’m ready to dive in.  I’m ready to go to Haiti.  I know for some they would rather give and that be their contribution, but for one person who has grown up traveling the world with her family and helping meet needs of others, I’m ready to head down there.  As my cousin and her medical team are just landing on the island to help the children of Haiti, I can’t help but be jealous.  My thoughts and prayers are with her and as she is on the front line doing her part, I will stay back (for the time being) and help from afar.  There are going to be plenty of opportunities for me to go to Haiti, so for now I will wait patiently for my turn.  In case you are wondering how you can help out, I have listed below a few websites of organization who have amazing reputations and already have teams in place, and will continue to be down there through the rebuilding and healing of this tormented country.  These organizations not only deal with the rebuilding physically but also the healing of the people of Haiti.  Please take sometime to read about some of these organization and see how you can do your part.

At this time, the immediate needs in Haiti are prayer and donations. Below are organizations that KSBJ recognizes as reputable ministries who are bringing immediate aid to Haiti and who benefit from your support:

• World Vision - Donations
• Compassion International - Donations
• Mission of Mercy - Donations
• Living Water - Donations
• Samaritan’s Purse - Donations

Stay tuned for future developments on how and when local churches will be headed down to Haiti.  I will periodically give updates on teams being put in place, and trust me, I will be apart of one of those teams, even if I do have to wait until the summer.

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It’s a new year and we are constantly hearing about how things are going to be different in 2010 as well as what went wrong in 2009.  The media generalizes the real estate market by saturating us with stats from who knows where.

Recently I read an article about Zillow.  Zillow has slowly become a one-stop shop for real estate information.  This is understandable, it is user-friendly and very interactive, however the site’s main drawback is its sales data.  Consumers should beware when accessing this information.  Nationwide, one third of the price “zestimates” provided by Zillow aren’t within 20% of the actual sales price.  In Texas alonemore than half of all homes’ zestimates fall outside the 20% range.  Unfortunately though, it’s presented so concise it comes across as fact.  Buyers and sellers should beware when reviewing this info.  This makes it even more imparative for buyers and sellers to use the knowledge from a qualified real estate expert.

The internet is a great tool for us now and days, but you also have to know how to filter what is fact and what is fiction.  According to the National Association of Realtors, 80% of consumers did online research before they bought their last home, with Internet consumers spending an average of 5.8 weeks researching online.  This can be dangerous or a great thing. With that being said, consumers must research where their source of information is coming from and recognize whether it is a trustworthy source or not.  I think we are going to continue to see more and more stats, reports, opinions, studies, etc. done on the conditions of our real estate market.  Always remember the source of your information needs to be local.  Your best source of info will be your local real estate information provider, which boils down to a knowledgeable agent or local realtor’s association.  They can provide you with the most accurate and up to date information about your area.

After the winter blues everyone has a tough time bouncing back.  From what I can see as a transaction coordinator is things are looking up.  After entering listing after listing, I am finally seeing showings increase as well as contracts on those listings.  I was receiving an average of two listings a week, with an average of 4-5 contracts a MONTH.  Houston is doing it’s best to keep its head above water in this shifting market.

I know it’s still early but compared to other areas, we have no right to complain.  It’s still a great time to buy no matter what the media says and since interest rates are at an all time low, those making out are the first time buyers.  Especially thanks to the tax break incentives, first time buyers have quite the advantage, with nothing to unload, they are free and clear to take advantage of the deals that are out there.

Now don’t get me wrong, you can’t go into every opportunity expecting a “great deal”  b/c since things are moving, especially in this area, you still have to be smart about “how low you want to go.”  That being said take advantage of the great opportunities out there.  Check out what’s hot in Houston. Click on Houston TX homes to see just what I’m talking about.

Check out this great article posted today.  This really shows that KW has what it takes to “Shift” in this market and provide opportunities for realtors to succeed and learn how to beat the odds.

Great Article!

http://www.dsnews.com/index.php/home/news_story/2477

It’s the weirdest feeling.  We’ve been preparing all day for it.  We’ve watched the tv, listened to the stories, and now it’s finally here, only it’s late, it’s dark, and it makes it much more scary.  I hear the wind and rain outside my house and we have power but now cable so I’m watching click2houston.com live streaming on the web.  Of course my husband can sleep and one of my dogs can too.  The other one laying with me on the couch is a little more restless, probably my fault.  I really would LOVE if we could just keep our power on and I could be a safe haven for our area, neighborhood.  How awesome would it be if we didn’t lose power and I could reach out to our area through hot meals, etc.  I promise I would really make sure I used this house to be a “shelter.”  As a real estate agent, you worry about your home, your listings, your buyers and it’s scary.  I have closings next week, but most of all you worry about that sphere of influence and how they are holding up.  You begin to look at things through the eyes of a contractor/insurance agent/appraiser/city official.  I don’t know how else to explain it.  I will keep you posted.  Just pray for our area.  We have a huge task ahead of us!

 christysellshomes.com

No matter what market you are in, no matter where you are nationwide, your real estate market has seen a shift.  Call it what you want, define it how you may, but it is what it is.  Mega Agents and Top Producers nationwide will tell their business has suffered.  Everyone is getting back to the basics, working their database and figuring out where they can cut.

In order to build your business and maintain the support needed to be successful it’s hard to figure out where to cut, without paying “the price.”  That is where a transaction coordinator has come in.  Agents are having to cut staff, and figure out a way to make up for that loss. A transaction coordinator can offer you personalized service with no overhead.  A TC is defined by many in different ways.  It’s a great idea, and a great investment.  With no worries as to how you are going to give them the hours, and how you are going to pay them, a TC can provide the same service with little cost.  It would be to your advantage to find a TC in your area to benefit from this personalized virtual assistance, giving you the time and opportunity to do what you do best….sell houses.  Please take a look at our website to see if we can assist you in any way.  We are in the Houston area, and specialize in assisting agents with website optimization, listing/marketing coordination, and transaction coordination.  Houston real estate is still hot.  Recently winning, best city to live, work, and play, Houston has proven itself to be a great investment, with a great future. For inquiries about transaction coordination, visit our site at teamtransact.com you can view homes at christysellshomes.com

Single family homes sales across Houston fell again in May while the average sale price of those properties rose for the fourth consecutive month.  May sales slid 15.3% from this time last year, and May marked the ninth straight month in a row of decline. 

The average price of SFH (single-family homes) rose by .6% last month to $214,732. $155,000 is the median price of SFH for May, representing the highest point for 2008.  Closed sales of all property types for May 2008 dropped 17.1% compared to that of May 2007.

According to Michael Levitin, HAR Chairman, “Buyers are benefiting from an attractive selection of housing inventory from which to choose along with historically low interest rates.  We continue to look forward to start of a turnaround in overall sales performance later this year.” 

The bright spot is the appreciation of home prices, these continue to rise, according to monthly HAR reports.  This information was provided by Houston Association of Realtors.

How cool is it that Kirby John officiated the ceremony for Jenna Bush’s wedding?  Houston’s own from Windsor Village was all smiles at the event.

This was great exposure for the Houston Community as well as the Windsor Village family.  Houston has proven itself to be quite the church going community.

Since we’ve moved here I’ve been shocked at how big churches are here.  I’m not complaining I think it’s awesome.  This also brings me to the real estate market.  I just moved here from Cleveland, OH and was very happy to hear the real estate market in Houston hasn’t hit the slump alot of other places have. 

Please visit my website so you can see all the great things going on in the Houston area!  christyconnects.com

Yesterday we had our homeowner’s association meeting.  It was very interesting.  This was our first time attending, so it was neat to see the turnout.  For a neighborhood of 286 homes, it wasn’t a great turnout.  They discussed the Ashton Village Swimteam and the need for support from the neighborhood.  One of the bigger issues discussed was our trash service and security.  This will be an ongoing discussion I’m assuming.  VanMor Properties will be assisting homeowner’s in receiving their new access cards to enter the pool, as well as the tennis courts.  If you are interested in more information on our neighborhood, feel free to email me.

Welcome to Christy Bacon’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in the Cleveland area.