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Mortgage Rates Ramp Back Up

In Buying a Home, Home Values, Houston Energy Corridor, Houston Real Estate Agent, Real Estate Investment, Selling your home on May 4, 2017 at 6:49 pm

The average 30-year, fixed mortgage rate ramped back up above 4 percent this week after wandering below 4 percent last week, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). The 30-year, fixed mortgage rate averaged 4.03 percent.

“The 10-year Treasury yield rose about 10 basis points this week,” says Sean Becketti, chief economist at Freddie Mac. “The 30-year mortgage rate moved with Treasury yields, rising six basis points to 4.03 percent.”

Per the survey, the 15-year, fixed mortgage rate averaged 3.27 percent, while the 5-year Treasury-indexed hybrid adjustable mortgage rate averaged 3.12 percent.

Last week’s dip below 4 percent was the first time the 30-year, fixed mortgage rate averaged lower than 4 percent since the election in November, when it broke through the mark.

“Despite recent swings in mortgage rates, the housing market continues to show signs of strength—both existing- and new-home sales in March exceeded expectations, and the Case-Shiller Home Price Index posted another solid gain,” Becketti says.

Source: Freddie Mac

Reprinted with permission from RISMedia. ©2017. All rights reserved.

If you are interested in buying or selling real estate in the Energy Corridor, 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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Low Supply Has Homes Selling Fast

In Buying a Home, Home Values, Houston Energy Corridor, Houston Real Estate Agent, Real Estate Investment, Selling your home on August 23, 2016 at 3:38 pm

Homes are selling an average of a week faster than they did a year ago, meaning home shoppers should be prepared to move quickly in a competitive housing market, according to the June Zillow® Real Estate Market Reports.

Tight inventory continues to be a major factor for home shoppers. The supply of homes for sale is nearly 5 percent lower than it was a year ago, and 38 percent lower than its peak level in 2011. With fewer available options, home shoppers are moving quickly to buy homes, with the average U.S. home closing after 78 days on the market.

The 78-day average includes the time it takes to close, which is usually one or two months after the home goes under contract. This means that homes are pending within about a month of being listed.

The length of time homes stay on the market before selling has been steadily decreasing since 2010, when homes took an average of five months to sell. The average time home buyers had in Pittsburgh, Philadelphia and Charlotte, N.C. dropped by at least wo weeks, the biggest change among the largest U.S. metros. 

The low inventory and quick-moving market combine to create a competitive home shopping market, especially for potential buyers looking for less expensive homes. The most expensive third of the market has experienced the smallest drop in available inventory compared to the rest of the market.

“Homes are selling faster than ever as the home shopping season hits its peak,” says Zillow Chief Economist Dr. Svenja Gudell. “If you’re looking for a home, be prepared to move quickly. Adding to this difficult buying environment is low inventory – there simply aren’t many homes to choose from. And while this looks like a good time to be a seller, potential move-up buyers may hesitate to list their homes and become buyers. Until the supply increases, it will remain a tough market to find a home.”

Tips for buyers in a competitive market

  • Meet with your lender early and get pre-approved for a loan – even before you begin seriously shopping for your new home.
  • Work with an agent who has expertise in the local market. Read reviews on local agents and find someone with a successful record in a tough market.
  • Request to pre-inspect a home before submitting an offer. You risk losing a few hundred dollars if you end up not wanting the house; but if you do, you’ll be able to submit an offer not contingent on home inspections.

The limited supply of homes is driving home values higher. The average U.S. home is worth $187,000, a 5.4 percent increase from June 2015. Home values have been increasing at 5 percent or faster on an annual basis for the past eight months.

For more information, visit www.zillow.com/research/. RISMedia Tracking Snippet *** Do Not Remove *** End RISMedia Tracking Snippet

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

If you are interested in buying or selling real estate in the Houston Energy Corridor, please contact Connie Vallone with First Market Realty, Inc at 713 249 4177, connie@knowsrealestate.com   or visit www.houstonenergycorridorhomes.com  or www.vallonehomes.com .

Residential Home Prices Continue to Gain Strength

In Buying a Home, Home Values, Houston Energy Corridor, Houston Real Estate Agent, Selling your home on March 4, 2016 at 4:37 pm

Property values nationwide continued to strengthen going into 2016, according to the recently released FNC December home price report – the last report for 2015.
According to the FNC Residential Price Index (RPI), home prices finished 2015 with the fastest pace of yearly appreciation since October 2014. As of December, average property value rose 6.2 percent from the same period a year ago, compared to 4.7 percent at the start of the year.

Despite reported slowing economic growth in the fourth quarter of 2015, home prices grew 6.0 percent during the same period as activities in the housing sector remain robust, with key indicators all pointing to modest to strong growth.

“Now with the spring home buying season soon upon us and with interest rates hovering at historical lows, as well as favorable credit conditions to support home ownership, the latest price trends give many Americans another piece of important information while considering buying a home,” says Yanling Mayer, housing economist and Director of Research at FNC.

To further inform and help potential home buyers evaluate their decisions, FNC complied a 2015 year-end home price snapshot to provide a measure of not only the strength of the ongoing recovery, but also how far have the nation’s largest housing markets come along since the market crash.

“Nationwide, average property value is up 28 percent since early 2012, although there is considerable variation in the pace of the recovery across the country,” Mayer says. “When benchmarked against the level attained in summer 2007 – when U.S. home prices began a freefall – current price level is about 13 percent below the peak run-up,” Mayer said.

“But again, they varied widely by market, attributable to the extent of market fallout as well as the strength of the recovery in the last four years. A handful of cities – including Denver, San Antonio, Houston, and Dallas – have made significant strides and are seeing property values higher than eight and a half years ago,” continues Mayer.

For more information, visit www.fncinc.com.

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 .

 

Housing Indicator Approaches Peak Level

In Buying a Home, Home Values, Houston Energy Corridor, Houston Real Estate Agent, Selling your home on October 21, 2015 at 2:12 pm

Consumer confidence in the home buying and selling market bounced back from a recent dip, suggesting continued gradual improvement in housing activity. Fannie Mae’s Home Purchase Sentiment Index™ (HPSI) increased to 83.8 in September, and The HPSI Good Time to Sell component increased 13 points on net due likely to a strong home price environment coupled with a slight improvement in consumers’ economic outlook. Additionally, the Good Time to Buy component increased 3 points on net as high rental costs may be encouraging more renters to consider homeownership. Although net home price and mortgage rate expectations dipped in September, consumers’ confidence in their employment and financial situations climbed 2 and 3 points, respectively, further suggesting a possible firmer footing for housing.

Fannie Mae Home Purchase Sentiment Index“The HPSI returned near its record high this month, driven primarily by improvement in attitudes about selling a home and strengthening home prices,” says Doug Duncan, senior vice president and chief economist at Fannie Mae. “With consumers’ expectations for rental price increases continuing to outpace their expectations for home price growth, many consumers may view homeownership as a more attractive option. This should have positive implications for the housing market, which remains well below historical norms in relation to housing starts. We noted last week that, despite a relatively dismal jobs report, the addition of 8,000 construction jobs, the biggest gain in four months, may be a sign of grudging progress for the supply side of housing. The September HPSI data, combined with the recent increase in construction jobs, are consistent with our expectation for a continued upward grind in housing.”

Fannie Mae’s September 2015 Home Purchase Sentiment Index™ (HPSI) increased 3 points to 83.8in September following a two-month drop. Four of the six component questions posted net positive gains, most notably with Good Time to Sell increasing 13 points compared to August. Home Price and Mortgage Rate net expectations continued to fall, dipping 2 and 1 points, respectively. Overall, the HPSI is up 3.6 points since this time last year.

The share of respondents who says that it is a good time to buy a house rose 1 percentage point to 64 percent, continuing a positive trend since July’s survey low. Those who say it is a good time to sell rose 5 percentage points to 52 percent, tying June’s survey high. The percent of respondents who say it is a bad time to sell decreased to 36 percent, setting a new survey low.

The percent of respondents who says that home prices will go up over the next 12 months fell to 45 percent. The percent who says that home prices will go down remained constant at 9 percent. The share who expect mortgage interest rates to go up in the next 12 months rose 1 percentage point to 55 percent. The share who say mortgage rates will go down remained the same at 5 percent.

The share of respondents who say they are not concerned with losing their job rose to 84 percent, while the share of respondents who say they are concerned with losing their job fell to 15 percent. The share of respondents who say their household income is significantly higher than it was 12 months ago rose to 28 percent, while those who say it is significantly lower rose as well to 13 percent.

For more information, visit www.fanniemae.com

Reprinted with permission from RISMedia. ©2015. All rights reserved.

So many ways to contact Connie Vallone:

(713) 249-4177     connie@knowsrealestate.com      www.vallonehomes.com       www.houstonenergycorridorhomes.com

NEW LISTING! 1515 Dodd Lane, Houston, TX 77077 – MLS# 86580901

In Buying a Home, Houston Energy Corridor, Houston Real Estate Agent on September 17, 2014 at 10:16 pm

NEW LISTING! 1515 Dodd Lane, Houston, TX 77077 – MLS# 86580901

1515 Dodd LaneOne story updated four-bedroom beauty in desirable Ashford Forest. Step into the barrel vaulted foyer that leads to living with high vaulted ceilings and fire glass fireplace. Opens to kitchen and breakfast area with tranquil views. Master retreat with French doors that open to your backyard with big covered patio. Impressive curb appeal on oversized corner lot with beautiful mature trees. New Roof. Double paned windows and doors, R-38 attic insulation. Too many updates to list here see online brochure. Move in ready!

HAR Link:  http://search.har.com/engine/1515-Dodd-Lane-Houston-TX-77077_HAR86580901.htm

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 .

 

NEW LISTING! 14115 Briarhills Parkway, Houston, TX 77077 – MLS# 64153494

In Buying a Home, Employers in West Houston, Houston Energy Corridor, Houston Real Estate Agent, Parks & Recreation, Terry Hershey Park, West Houston on June 27, 2013 at 9:10 pm

NEW LISTING! 14115 Briarhills Parkway, Houston, TX 77077 – MLS# 64153494

briarhills-parkway-14115-001-SmallBeautiful updated home in Energy Corridor – too many updates to list see upgrade sheet. Hardwoods, tile, granite tops, new fixtures, new hardiplank, gutters, driveway, recent zoned Air Conditioner and heater, double pane french doors in dining area and master retreat lead to nice shady covered patio. Huge master retreat with Brazilian wood floors.  Master bathroom totally remodeled with huge shower and jetted tub. Gameroom upstairs looks over to large family room with wet bar that leads to dining area and kitchen. Nice and bright with tons of windows and skylights.

HAR Link:  http://search.har.com/engine/14115-Briarhills-Parkway-Houston-TX-77077_HAR64153494.htm

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

 

NEW LISTING! 14131 Stokesmount Drive, Houston, TX 77077 – MLS# 21424934

In Houston Energy Corridor, Houston Real Estate Agent, Parks & Recreation, Terry Hershey Park, West Houston on March 20, 2013 at 4:18 pm

NEW LISTING! 14131 Stokesmount Drive, Houston, TX 77077 – MLS# 21424934

14131 Stokesmount Drive

Beautifully updated one story home in desirable Briar Hills. High end Brazilian Teak hardwoods in living and dining areas that lead to the updated kitchen with mosaic travertine tile flooring, backsplash and granite counter tops. Living area with wet/wine bar leads to a nice big yard with covered decking. Huge master bedroom and tons of closet space. Gorgeous Low E Double Paned windows and doors throughout. Expensive tile roofing. New Pex plumbing. Curb appeal galore with a nice new driveway.

HAR Link: http://search.har.com/engine/14131-Stokesmount-Drive-Houston-TX-77077_HAR21424934.htm

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 .

 

NEW LISTING! 14211 Sandfield Drive, Houston, TX 77077 – MLS# 90041714

In Houston Energy Corridor, Houston Parks, Houston Real Estate Agent, Parks & Recreation, Terry Hershey Park, West Houston on January 11, 2013 at 10:11 pm

NEW LISTING! 14211 Sandfield Drive, Houston, TX 77077 – MLS# 90041714

14211SandfieldGreat one story waiting for new owners personal touches located in the Heart of the Energy Corridor. Huge living area with wet bar perfect for your own wine cellar opens to dining area that leads kitchen with views to private courtyard. Master retreat with picture windows offers views to quiet garden oasis with covered patio. Don’t miss the huge side yard plenty of room to play! Tons of storage. Walking distance to Terry Hershey Park, Briar Hills pool and tennis courts, Energy Corridor shops and restaurants.

HAR Link: http://search.har.com/engine/14211-Sandfield-Drive-Houston-TX-77077_HAR90041714.htm

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 .

 

 

NEW LISTING and OPEN HOUSE! 1003 Coachlight Drive, Houston, TX 77077 – MLS# 44972423

In Houston Energy Corridor, Houston Real Estate Agent, Terry Hershey Park, West Houston on December 5, 2012 at 8:28 pm

NEW LISTING and OPEN HOUSE! 1003 Coachlight Drive, Houston, TX 77077 – MLS# 44972423

1003 Coachlight Drive

OPEN HOUSE Friday, December 7th from 11:30am to 2pm

Stunning updated home in the heart of the Energy Corridor -walking distance to Terry Hershey. Thousands of dollars spent in upgrades – see brochure. Huge Living and Dining areas that are bright and light with gorgeous walnut wood floors and high ceilings. Huge landscaped yard with mature trees. Kitchen with granite counter tops, tile backsplash, double ovens and breakfast area with sliding doors leading to second outdoor sitting area. Designer paint, crown molding, oil rubbed and Stainless Steel fixtures, double paned windows and doors. New roof in 2008 with radiant barrier.

HAR Link: http://search.har.com/engine/1003-Coachlight-Drive-Houston-TX-77077_HAR44972423.htm

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 .

 

NEW LISTING! 14026 Pinerock Lane, Houston, TX 77079 – MLS# 55862084

In Home Values, Houston Energy Corridor, Houston Real Estate Agent, Uncategorized on November 30, 2012 at 6:35 pm

NEW LISTING! 14026 Pinerock Lane, Houston, TX 77079 – MLS# 55862084

14026 Pinerock LaneWonderful one story lovingly maintained home ready for your personal touches. This is your chance to live in desirable Nottingham West zoned to Spring Branch School District. Quiet street. Four bedrooms, 2 living areas, 2 bathrooms, beautiful HUGE lot with mature trees. Nice and bright! New Air Conditioner in May 2011, Iron driveway gate and sprinklers front and backyards.

HAR Link: http://search.har.com/engine/14026-Pinerock-Lane-Houston-TX-77079_HAR55862084.htm

If you are interested in buying or selling real estate in the Houston Energy Corridor, please contact Connie Vallone with First Market Realty at 713 249 4177  or visit

www.houstonenergycorridorhomes.com  or www.vallonehomes.com