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Archive for October, 2016|Monthly archive page

NEW LISTING! 1315 Briar Bayou Drive, Houston, TX 77077 – MLS# 80656703

In Buying a Home, Houston Energy Corridor, Houston Parks, Real Estate Investment, Selling your home, Terry Hershey Park on October 26, 2016 at 8:00 pm

NEW LISTING! 1315 Briar Bayou Drive, Houston, TX 77077 – MLS# 80656703

1315 Briar Bayou DriveRare find this beautiful custom home sits on a half-acre lot in the heart of the Energy Corridor. Huge living area opens to chef’s kitchen with spacious master retreat downstairs all with French doors that lead to massive private backyard with pool. Executive study plus 5 bedrooms and 4/1 bathrooms. Don’t miss the private study/loft area with private entrance from the pool. Estate living in the city on quiet peaceful street minutes from excellent schools and Energy Corridor amenities and employers. See photos and brochure for more details.

HAR Link: http://www.har.com/1315-briar-bayou-drive/sale_80656703

If you are interested in buying or selling real estate in West Houston, please contact Connie Vallone with First Market Realty at 713 249 4177  or visit www.houstonenergycorridorhomes.com  or www.vallonehomes.com .

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Mortgage Rates Hover in Place

In Buying a Home, Home Values, Houston Real Estate Agent, Real Estate Investment, Selling your home on October 19, 2016 at 3:47 pm

Average fixed mortgage rates remain largely unchanged ahead of this week’s employment report, according to Freddie Mac’s recently released Primary Mortgage Market Survey.

The 30-year fixed-rate mortgage (FRM) averaged 3.42 percent with an average 0.5 point for the week ending October 6, 2016, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.76 percent.

“The 10-year Treasury yield leaped to a two-week high following reports of the European Central Bank retreating from its bond-buying program ahead of its initial March deadline,” says Sean Becketti, chief economist, Freddie Mac. “In contrast, the 30-year fixed-rate mortgage remained unchanged. Over the past two weeks, mortgage rates have remained fairly flat while Treasury yields have fallen and risen.”

The 15-year FRM this week averaged 2.72 percent with an average 0.5 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 2.99 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.80 percent this week with an average 0.4 point, down from last week when it averaged 2.81 percent. A year ago, the 5-year ARM averaged 2.88 percent.

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Reprinted with permission from RISMedia. ©2016. All rights reserved.

Do you have real estate questions?   Contact Connie Vallone at (713) 249-4177 or connie@knowsrealestate.com or visit www.houstonenergycorridorhomes.com  or  www.vallonehomes.com.

New Home Price Report Shows Prices Up 6.2 Percent

In Buying a Home, Home Values, Houston Energy Corridor, Houston Real Estate Agent, new homes houston energy corridor, Real Estate Investment, Selling your home on October 13, 2016 at 2:53 pm

Home prices are up both year over year and month over month, according to the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for August 2016.

Home prices nationwide, including distressed sales, increased year over year by 6.2 percent in August 2016 compared with August 2015 and increased month over month by 1.1 percent in August 2016 compared with July 2016, according to the CoreLogic HPI.

The CoreLogic HPI Forecast indicates that home prices will increase by 5.3 percent on a year-over-year basis from August 2016 to August 2017, and on a month-over-month basis home prices are expected to increase by 0.4 percent from August 2016 to September 2016. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

“Home prices are now just 6 percent below the nominal peak reached in April 2006,” says Dr. Frank Nothaft, chief economist for CoreLogic. “With prices forecasted to increase by 5 percent over the next year, prices will be back to their peak level in 2017.”

“Housing values continue to rise briskly on stronger fundamental and investor-fueled demand, as well as lack of adequate supply,” says Anand Nallathambi, president and CEO of CoreLogic. “This continued price appreciation is contributing to a growing affordability crisis in many markets around the country.”

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Reprinted with permission from RISMedia. ©2016. All rights reserved.

If you are looking for Classic Real Estate Services from concept to closing, please contact Connie Vallone by phone (713) 249-4177, email connie@knowsrealestate.com or visit my website at www.houstonenergycorridorhomes.com or www.vallonehomes.com .

Single Buyers Entering the Housing Market in Full Force

In Buying a Home, Home Upgrades, Home Values, Houston Energy Corridor, Houston Real Estate Agent, Real Estate Investment, Selling your home on October 4, 2016 at 2:26 pm

According to the National Association of REALTORS® 2016 Home Buyer and Seller Generational Trends study, 15 percent of homebuyers were single women and nine percent were single men. This equates to almost a quarter of all homes being purchased by single people—the largest percentage ever.

If you’ve never entertained the idea of marketing your home to a single buyer because it has too many rooms or is located in a neighborhood full of families, you may want to think twice. In fact, selling to a single buyer may be easier than you think because comps in your area are thinking the same thing. By making a few adjustments to the home and/or listing, the single buyer is a segment that sellers can easily appeal to.

While the days when unmarried people—especially women—were thought to be giving up on the prospect of marriage if they bought a home on their own are gone, savvy singles understand that real estate is an investment, and more likely than not, they can probably get a price that won’t stop them from enjoying their single lifestyle.

Even with millennials flocking to apartments in live/work/play areas, this type of lifestyle isn’t for everyone, causing many to decide that it’s time to leave these apartments behind and find a home of their own.

Plus, many single buyers are concentrating on their careers and still envision getting married and having kids at some point in the future. Others may be divorced and looking to start fresh.

In her book “Buying a Home When you’re Single,” Donna Albrecht walks readers through all the steps associated with searching for a home, getting pre-qualified, finding an agent and going through the escrow process. “Before anyone buys a home—single or not—they need to consider what they want their future to look like,” says Albrecht. “If kids are a big hope, buying a studio condo could be a mistake. Going the other route and buying a five-bedroom place may not be the best idea either.”

When you’re single, buying a smaller home with two bedrooms or less has a number of advantages. The lower purchase price will likely net you a mortgage payment that’s lower than rent, and you’ll also save on utilities, maintenance and cleaning costs. In addition, you’ll have fewer rooms to furnish and decorate.

And last but not least, a smaller home will be easier to sell when you’re ready to move. Single buyers know that their circumstances may change, so they should be prepared. Making sure the home can be easily sold or rented out is often of utmost importance to this group. With the growing number of single people taking advantage of today’s low mortgage rates and the current housing market, making sure your space appeals to single buyers can make all the difference.

To learn more about what you can do to help your home stand out to single buyers, contact our office today. RISMedia Tracking Snippet *** Do Not Remove *** End RISMedia Tracking Snippet

Reprinted with permission from RISMedia. ©2016. All rights reserved.

If you are looking for Classic Real Estate Services from concept to closing, please contact Connie Vallone by phone (713) 249-4177, email connie@knowsrealestate.com or visit my website at www.houstonenergycorridorhomes.com or www.vallonehomes.com .