MLS Report for September 2014

MLS Report for September 2014

HOUSTON HOME SALES SHOW NO SIGN OF LET-UP IN SEPTEMBER

Inventory shrinks slightly and prices climb as the home buying frenzy continues

HOUSTON — (October 8, 2014) — The fall home buying season began with gusto in Houston as sales and prices did in September what they have done for months – rose. The continued buying frenzy caused housing inventory to shrink very slightly after holding steady for two consecutive months. And in another scenario that has become all too familiar in this market, prices reached record one-month highs.
According to the latest monthly report prepared by the Houston Association of Realtors (HAR), single-family home sales totaled 6,490 units, an increase of 7.0 percent compared to September 2013. Months of inventory, an estimate of the time required to deplete the current active housing inventory based on the previous 12 months of sales activity, dipped to a 2.9-months supply from a 3.2-months supply last September. It remains well below the current national supply of 5.5 months of inventory.
The average price of a single-family home jumped 8.2 percent year-over-year to $269,440. The median price—the figure at which half the homes sold for more and half for less—rose 7.7 percent to $196,000.
September sales of all property types totaled 7,879 units, a 7.0-percent increase compared to the same month last year. Total dollar volume for properties sold soared 15.7 percent to $2 billion versus $1.7 billion a year earlier.
“As long as consumers continue to snap up homes at the current pace, replenishing our housing inventory will be a slow process,” said HAR Chair Chaille Ralph with Heritage Texas Properties. “Rental numbers were strong in September, suggesting that many would-be home buyers are continuing to go the lease route until the market bears the homes they’re looking for at the price point that suits them.”

September Monthly Market Comparison

The Houston housing market experienced across-the-board gains in September, with total property sales, total dollar volume and average and median pricing all up when compared to September 2013.
Month-end pending sales for all property types totaled 4,143. That is up 17.2 percent compared to last year and is considered a bellwether of continued positive sales activity next month. Active listings, or the number of available properties, at the end of September was 28,946 and is 10.8 percent below last year.
Houston’s housing inventory, after holding steady at a 3.0-months supply in July and August, shrank in September to a 2.9-months supply versus 3.2 months a year earlier. That compares to a 5.5-months supply of inventory across the U.S. recently reported by the National Association of Realtors.

CATEGORIES	SEPTEMBER 2013	SEPTEMBER 2014	CHANGE
Total property sales	7,362	7,879	7.0%
Total dollar volume	$1,733,076,889	$2,005,556,946	15.7%
Total active listings	32,457	28,946	-10.8%
Total pending sales	3,536	4,143	17.2%
Single-family home sales	6,064	6,490	7.0%
Single-family average sales price	$248,948	$269,440	8.2%
Single-family median sales price	$182,000	$196,000	7.7%
Single-family months inventory*	3.2	2.9	-10.0%

* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.

Single-Family Homes Update

September single-family home sales totaled 6,490, up 7.0 percent from September 2013.

Home prices reached record highs for a September in Houston. The single-family average price increased 8.2 percent from last year to $269,440 and the median price climbed 7.7 percent year-over-year to $196,000. Transactions continued to close at a near-record pace. The number of days a home took to sell¬, or Days on Market, was 47. In July it reached a record low of 45 days.

Broken out by housing segment, September sales performed as follows:

$1 - $79,999: decreased 20.7 percent

$80,000 - $149,999: decreased 8.8 percent

$150,000 - $249,999: increased 10.2 percent

$250,000 - $499,999: increased 16.5 percent

$500,000 - $1 million and above: increased 26.7 percent

HAR also breaks out the sales figures for existing single-family homes. In September, existing home sales totaled 5,715. That is up 10.2 percent from the same month last year. The average sales price increased 6.8 percent year-over-year to $250,966 while the median sales price jumped 7.5 percent to $182,800.

Townhouse/Condominium Update

After two months of declines, sales of townhouses and condominiums rose 7.4 percent in September versus one year earlier. A total of 625 units sold last month compared to 582 properties in September 2013. The average price increased 7.5 percent to $195,064 and the median price shot up 10.7 percent to $150,500. Inventory reached to a 2.5-months supply versus a 3.1-months supply a year earlier.

Lease Property Update

Lease properties showed strong demand in September as inventory of for-sale properties remained tight. Single-family home rentals soared 13.2 percent compared to September 2013, while year-over-year townhouse/condominium rentals increased 8.8 percent. The average rent for a single-family home was up 2.7 percent to $1,749 and the average rent for a townhouse/condominium was flat at $1,533.

Houston Real Estate Milestones in September

• Single-family home sales rose 7.0 percent versus September 2013;
• Total property sales were up 7.0 percent year-over year;
• Total dollar volume climbed 15.7 percent, increasing from $1.7 billion to $2 billion on a year-over-year basis;
• At $196,000, the single-family home median price achieved a record high for an September;
• At $269,440, the single-family home average price also reached an September high;
• Days on Market for single-family homes was 47, slightly above July’s record low of 45 days;
• Rentals of single-family homes shot up 13.2 percent year-over-year and the cost of renting those homes increased 2.7 percent to $1,749.
• Townhouse/condominium rentals rose 8.8 percent, with rents flat at $1,533.

The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 29,000 REALTORS® throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. Residential home sales statistics as well as listing information for more than 50,000 properties may be found on the Internet at http://www.har.com.

The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All data is preliminary and subject to change. Monthly sales figures reported since November 1998 includes a statistical estimation to account for late entries. Twelve-month totals may vary from actual end-of-year figures. (Single-family detached homes were broken out separately in monthly figures beginning February 1988.)

Founded in 1918, the Houston Association of REALTORS® (HAR) is a 29,000-member organization of real estate professionals engaged in every aspect of the industry, including residential and commercial sales and leasing, appraisal, property management and counseling. It is the largest individual dues-paying membership trade association in Houston as well as the second largest local association/board of REALTORS® in the United States. 

http://www.jaredanthonycox.com

5 Things to Consider About a Neighborhood Before Buying

Buying a home is a long-term, important investment, so take the time to discover what makes your targeted neighborhoods tick. There are a number of ways to check the pulse of a community; talking to neighbors can give you a great snapshot of what it’s like to live there. Here are five other ways to determine whether a neighborhood is the right fit for you.

1. Is it an up-and-coming area or still in transition?
You might start by researching local home values and foreclosure rates. Consider such factors as crime rate, development plans and proposed or new businesses. You can even contact local officials, such as the county property appraiser or the HOA manager (if applicable) for better insights. Sometimes buying a home in a transitional area may prove to be a good investment, but you probably want to make sure you'll feel good about your home in the interim, too.

2. Do the schools make the grade?
Even if you don’t have school-age children, you should be interested in how the schools in your potential neighborhood perform. Homes near high-ranking schools tend to maintain higher resale values. Start your research by visiting GreatSchools.org  or using the SchoolFinder tool at education.com.

3. What’s nearby?
Consider what’s important to you in your future neighborhood, and then explore the surrounding areas near your targeted home. Among things to keep in mind are proximity to stores, schools and green spaces. Aside from being practical, these amenities make it easy to mingle with neighbors, set up kids’ play dates or just play fetch with your pup. WalkScore.com is a great place to search for nearby amenities – all you have to do is plug in an address and mode of transportation.

4. How far is it from work?
Try the new INRIX Drive Time tool on remax.com to determine how long it will take you to drive to work, school or area stores from your new home. You can also time a potential commute by doing a test drive during the time of day you’re most likely to go to and from work. Explore mass transit options. In addition to offering an alternative to driving, good public transportation near your home can have a positive effect on your property value.

5. How safe is it?
A neighborhood watch, well-lit streets, walkways, security systems and little to no signs of vandalism are signs of a safe neighborhood. You can see a picture of the types of crimes that occur in the neighborhood by researching on city-data.com or FBI.gov and the local police department’s website.

A RE/MAX agent is one of the best helpers you could have on your quest to find the right neighborhood – and the right home – for your needs.

For the information you’re looking for, give me a call at 832-570-5726 or visit me online at CallJared.com.

Celebrate a World Cup of Your Own

Scorrrrrrrre!!!!!!
 
Celebrate a World Cup of Your Own
 

Word Cup Wonder!

You may not make it to the FIFA World Cup this year in Brazil, but you can still score big by improving your FICO or Vantage credit score.

There’s no way around it, if you want to buy a home with a mortgage, you’ll get a better rate with a higher credit score. Unfortunately, your credit score takes into account several years of your past financial decisions and missteps in addition to your current situation. While there is no easy “fix” to your credit score, practicing these five suggestions can help you move it in the right direction.

Keep Paid-Off Debt on Your Report
While negative debt on your report is bad, paid-off debt is a positive contributor to your credit score. Most of your negative debt falls off after seven years, but keeping positive debt in place can help. If you’ve paid off that line of credit, keep it open (just don’t use it) and when you switch to a different credit card because it has a lower interest rate, keep the old one (again, just don’t use it) so that your “available credit” is higher.

Revolving Credit
Your score reflects how much credit you have versus how much you are using at any given time. The lower the credit usage to credit available, the higher your score. To increase your credit available, pay down your balances. Even if you pay your entire balance off every month, you may appear to have a higher usage to available ratio. Since it is your statement balance that many card issuers report to the credit bureaus, consider paying ahead of the statement date.

Small Balances on Several Cards
When you have several cards in use at once, even if they have small balances, your score reflects the number of credit accounts in addition to the total balance. Pay off the small balances. Use your lowest interest-rate card for most of your purchases.

Avoid Unnecessary Credit Report Dings
When you apply for credit, it may cause a slight dip in your credit. When shopping for the best rate, you may apply for several loans in a short amount of time. According to Bankrate, the FICO scoring system ignores multiple requests for the same type of loan, treating them as one request within a scoring timeframe (typically 30 to 45 days), but with other systems you have only 14 days. In very old systems, student loans in particular may not appear as one request, so avoid applying for student loans when also applying for a mortgage. The Vantage Score model uses a rolling 14-day window for duplicate loan inquiries, so shorten up your shopping time accordingly.

Nuisance Bills
When trying to pull together a down payment for a big-ticket item (car, home, etc.), take care to pay smaller bills that can hurt you later. For example, that library fine or leftover medical bill that ended up in collection and remains unpaid can hurt either your FICO or your Vantage Score, but if you’ve paid them, your Vantage Score does not factor them into your score.

Credit scores move up slowly over time. Start working to improve your credit score immediately so that when you’re ready to shop for that home loan, you’ll already have a great credit score.

Compliments of Virtual Results

Jaredanthonycox.com

#Houston #Realestate #Condos #Galveston #Homes #CreditRepair

New technology provides discreet hearing aid options

(BPT) - If you suffer from hearing loss, you're not alone. Nearly 20 percent of American adults suffer from hearing loss. And as you age, the possibility of hearing loss increases. Thirty percent of Americans older than 65 suffer from hearing loss and that number reaches 50 percent for people older than 75.

Despite the fact that many people have hearing loss, they often wait years to get help. Only one in five people who would benefit from a hearing aid actually wear one. Many people still think of hearing aids as the big, bulky models of the past. That couldn't be further from the truth. In fact, many of today's top hearing aids reside inside the ear and are invisible to the naked eye.

If you're experiencing symptoms of hearing loss and could benefit from wearing a hearing aid, here's an overview of some of the latest discreet technology that can greatly improve the quality of your life.

AMP. AMP from Starkey Hearing Technologies is designed specifically for first-time hearing aid users. About the size of a fingernail, AMP sits invisibly in a person's ear canal and amplifies sound.

Invisible-in-the-canal (IIC). The IIC is the most advanced invisible technology on the market today. These aids - similar in size to a jelly bean - are custom fit to your ear canal and hearing loss. An IIC is placed deep in your ear, usually making it completely invisible to anyone else. The highest quality IICs are custom, digital and fully programmable.

Mini receiver-in-canal (RIC). People who want the benefits of an invisible hearing aid but can't wear an aid that fits in their ear canal can choose a mini RIC. This aid resembles the shape of a more traditional hearing aid but it is nearly half the size. The mini RIC hides behind a person's ear, making it nearly invisible. Despite its size, this hearing aid still offers the highest performance, power and features available.

The latest advancements in hearing aid technology mean you no longer have to be self-conscious about combating your hearing loss. To read more about each of these types of hearing aids and to learn how a hearing aid can improve your quality of life, visit www.invisiblehearingaid.com.

Courtesy of BPT

JaredAnthonycox.com

Create an outdoor sanctuary in your backyard

(BPT) - Coming home from a long work day to a place of peace, quiet, relaxation and even harmony is a dream for many homeowners. And by creating an outdoor sanctuary in the backyard, this private place of solace will become the first destination for all members of the family when they need a break.

Backyard sanctuaries incorporate peace of mind with a spa-like atmosphere. Some do this with plant features, others with water. Here are some tips to build an outdoor sanctuary in your own backyard.

1. Create a walkway - A beautiful walkway around your backyard, through different scenic zones, can help you to clear your mind of troubled thoughts. This walkway can be a paved path, or composed of stepping stones or gravel and woodchips. Consider planting different gardens close to the walkway, inviting walkers to immerse themselves within the blooms and scents wafting from the flowers.

2. Incorporate a seating area - This space doesn't have to be large, but give it a sense of ambiance with an arbor made of cedar to allow plants to grow taller, or a pergola to provide shade and that wonderful natural aroma that cedar gives off. Natural materials like Western Red Cedar weather naturally, and are rot-resistant, giving homeowners a durable and long-lasting material to enjoy for years to come.

"Using Western Red Cedar for backyard sanctuary seating areas gives homeowners a variety of design options to work around," says Mark Clement, a building expert and co-host of "My Fix It Up Life" which airs nationally on iTunes, Blog Talk Radio and myfixituplife.com. "This wood is sustainable, environmentally friendly, easy to work with, ages beautifully, and, when incorporated into an arbor or pergola design, makes a stunning visual element to the space."

In this seating space, place a bench, outdoor patio furniture or even comfortable lawn chairs to encourage family members to stop for a rest and settle their thoughts for the day. If the family is into yoga or meditation, consider keeping mats in a nearby storage container for quick and easy access.

3. Design for both night and day - Sometimes a sanctuary space is most needed when the moon is shining brightly. Plan for this with a lighting design in the backyard. Provide illumination to pathways, the deck area, and in garden clusters to give a new sense of beauty to the plants. When designing your lighting scheme, be careful to avoid creating any scary shadows. If you notice this occurring, adjust the lighting to come from a different direction, or try using a different light. Also consider what form of light you would like. Would you prefer low watt electric lights, or candlelight, which would require a person to spend time preparing?

Once your backyard sanctuary is built, your family will have a place handy where they can escape for some peace of mind.

Courtesy of BPT

jaredanthonycox.com

Crown molding - Adding a touch of glamor to your home decor

Crown molding is a great way to beautify an ordinary looking home into one that exudes class and style. Crown moldings are typically decorative strips made up of wood, plastic, or fiberboard. These are introduced to any room décor in an effort to camouflage the existing flaws and ugly blotches on the walls or ceilings. The crown molding is therefore similar to a wall decoration which adds a touch of elegance to a room, making it appear more grand and unique.

Crown molding ideas can be retraced to the Roman and Grecian culture where it became vastly popular. Wooden crown molding gained popularity later when craftsmen mastered the art of cutting, sanding, and carving wooden blocks to create masterpieces. Crown molding is affordable and can be implemented in almost any type of room. You can buy the raw materials yourself and get it made professionally by customizing it. What materials you choose for crown molding will largely determine how durable and beautiful it is going to be. Superior quality materials for home furnishing are likely to be far more expensive but are less likely to be damaged.

Home furnishing experts choose crown molding these days because it helps heighten a property's real estate standing. When a property appears visually stunning, chances are buyers will be willing to pay more for it. Simply demolishing walls to give your rooms a spacious look is not enough; instead, this is more expensive and impractical. An easier and economical alternative is using decorative columns and ceiling medallions for your home décor. These home décor ideas are easy to implement and will not cost you dearly.

Buying crown molding online can give you many advantages. This is because you can purchase your decorative columns or door casings or ceiling medallions directly from the maker without having to handle the wholesalers and retailers. They offer you the luxury of customizing your home furnishing ideas and guarantee you good quality materials. Unlike furniture, such decorative columns or ceiling medallions will not occupy unnecessary space, nor will they clutter the room. Besides, they are fire-resistant and help keep away harmful UV rays. Crown molding can be easily maintained and these products seldom rot. Installing them is never a problem and most of the products can be set up by following simple instructions, except ceiling medallions where professional assistance is recommended.

Crown molding can come in various designs like the traditionally classic designs which help add elegance and class to your home décor. Crown molding in the kitchen is similar to ceiling and wall decorations, but the installation process is different. Although challenging, using crown molding is a sure way of giving your rooms that much-needed makeover. It helps give every room a distinct flavor, an aesthetic appeal, a unique personality, and a sophisticated touch.

When choosing the crown molding for your rooms, make sure to choose the right molding depending on the room dimensions and ceiling height. Select the materials that are sturdy, dependable, and weather-proof. The world of home furnishing has undergone a revolutionary change with the advent of crown molding.

by: Walter Mitchell
http://www.articlecity.com/articles/home_improvement/article_7226.shtml

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