Houston Association of Realtors recently released their market statistics for April 2012. Home sales increased by over 9.6% from last year. This is huge for Houston, not only was this the second biggest monthly increase for 2012, in marked the eleventh consecutive month of positive sales.

One of the biggest factors that play a role in such incredible market activity, is the strength of the job market in Houston. Houston has added over 96.000 jobs locally over the past year. Foreclosure property sales are down, and the average sale price of homes here in Houston rose 11.2% from last year.

Check out this video and more information about April real estate sales in Houston real estate market, courtesy of Houston Association of Realtors

Houston MLS Report for April 2012

The second quarter in the Houston real estate market, has historically been the busiest and best quarter of the year. If you are thinking about selling now is the time to take advantage of such a healthy market. Demand is high, and supply is low. Also if you are thinking about buying, interest rates continue to be at an all time low, and there are no guarantees this will continue. Give me a call today, so that we can assist you in your next Houston real estate endeavor.

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May

12

Celebrate Moms with local Houston flare, fun, and festivities!

Posted by marywassef under Uncategorized

Happy Mother’s Day! In honor of Mother’s Day we at Circa are spending the day with our Mom’s and families. There are lots of fun things to do this weekend with Mom.

Here are a few:

The 25th Annual Art Car Parade is Saturday from 1:00 to 3:00 on Allen Parkway

This weekend and next is the Bellaire New Home Show. This is a great place to go see the latest and greatest in kitchens , baths and finishes.

The weather is great and there are a whole bevy of activities at Discovery Green this weekend

Have a wonderful weekend!

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Take a look at the Houston Chronicle’s latest article regarding home sales in Houston. In reality, for most of us inside, or near the 610 loop, it is already here. The city is at 5.6 months of inventory of homes for sale. In reality, that is a Seller’s market. Anything below six months is considered a market that favors the Seller. The city averages are certainly more telling than the national averages, which are about as meaningful as a national weather forecast. We all know it can be raining in Miami while the sun shines in Houston. I am amazed at how the media seems to think that same logic does not apply to real estate. Even these averages for the city do not tell the entire story. There are some of our suburban areas that are still struggling and may have seven or eight months of inventory. There are areas like the Heights that are running as low as one month of inventory for certain price points. Yes, one month! If you have looked for a new home in the $700,000 in the Heights recently, you know of what I speak. Many of Houston’s most sought after markets, such as the Heights, Memorial and West University, are unquestionably in a Seller’s market.

I think the news is good whether you are buying or selling. If you are selling and you prepare your home properly and you price it right, there is an excellent chance that the sales process will be swift and profitable. If you are buying, it is a bit more challenging, but the good news is that interest rates are low and prices are on the rise. So, the sooner you buy, the more apt you are to gain in this fast-paced market. You will want to be working with a Realtor who can set realistic expectations for you and who can help you focus on the right properties so that when a great home comes on the market, you are ready to see it and make an offer quickly. Another important factor, and this is where experience comes in, is crafting the offer in such a way that you maximize your chances of winning in a multiple bid situation. I am seeing far more of these than I have for the past several years. An experienced Realtor can help you with the terms of your offer in order to make sure that your offer looks good on many levels, not just price. It is not always the highest bid that wins, there are sometimes other factors at play, such as closing date, that can sweeten the deal for the Seller. It is important that the Seller recognize that you are fair and will be reasonable to work with through the process, and simply offering reasonable terms will carry that message. Sometimes a personal letter stating why the home is perfect for you can clinch the deal. For instance, if the Seller has raised a family in the home and it is your intention to do the same, the Seller may feel compelled to work with you because they feel good about you having the home.

The Realtors at Circa are adept at competitive markets because we work in the neighborhoods that are frequently competitive even when most of the city is not. We would love to help you navigate these waters and find that perfect home. Give us a call today!

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This years home tour is guaranteed to be top notch. With some unbelievable homes open for tour, spectators will be in awe of the craftsmanship and detail. Saturday and Sunday, April 14-15 from noon to six, there will be six homes and gardens on tour. Five historic homes, and one newly constructed home will be featured, focusing on their unique character and architecture of the homes and highlighting the Heights neighborhood in general.

Tickets can be purchased at the Heights Fire Station on 107 W 12th Street and Comerica Bank on 414 W 19th Street, as well as each home. Enjoy a shuttle ride or consider alternate transportation by way of your bike. Tickets are $20 instead of $25, and what a time of year to be riding in Houston. The spring flowers in bloom and the weather is going to be perfect. A special route has been mapped out just for bicyclers and there will be bike racks with a “bike valet” at every stop. Take your time and stroll through each home, knowing your bike will be safe outside.

Then I recommend taking a stroll down 19th Street for some lunch and shopping. Merchants in the historic shopping area are very supportive of their neighborhoods and community events. You can’t go wrong with your restaurant of choice, no matter what you have the taste for. Plan to spend the entire afternoon in awe. Houston Heights neighborhood is one of Houston’s oldest but most desired neighborhoods. For more information on the homes on tour, as well as ticket information, click here.

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Is it true? Could this housing crisis be coming to an end? Recently reports are indicating the banks are finally loosening up on credit criteria. Although the report notes the average credit score required to attain a mortgage loan is 700, other factors that play into getting approved are “loosening up”. While this credit score of 700 is higher than scores required prior to the crisis, it is hasn’t changed from a year ago. The survey also showed the credit score requirement was consistent over all four quarters last year.

However, there are other market indicators pointing toward the loosening of credit availability. Banks are now lending amounts up to 3.5 times borrower earnings. This is up from 3.2, which is what it was at its lowest during the crisis. Banks are also loosening their loan to value ratios(LTV). This is said to be the clearest indicator of a sign of improvement in the mortgage credit conditions. While banks were lending at low of 74%, banks are now lending at 82% LTV.

While credit conditions may have loosened slightly, potential home buyers are still struggling with credit requirements. With the influx of bankruptcies, short sales, and foreclosures, maintaining good credit seems to be much more difficult these days. In fact, economists point out that in November alone, 8% of contracts that “fell-out” were a result of a potential buyer not qualifying for a loan.

Additionally, economists say “any improvement in credit conditions won’t be significant enough to generate actual house price gains,” and potential ramifications from the euro-zone pose a threat to future credit availability.

Make sure you are in the know when it comes to your credit rating. Stay educated. Your credit report reveals many aspects of your borrowing activities and abilities.

Here are some tips for fine tuning your credit score

- maintain consistency in identifying yourself on credit applications
- contact your creditors directly with any disputes
- avoid opening new accounts if you’ve applied for a mortgage
- pay down revolving balances to 50% of credit limit
-Remember authorized user accounts are always treated as joint accounts by the scoring system even if they technically are not
-Avoid the use of credit-repair companies
-Banking experts recommend you pull your credit report once a year to make sure all information is accurate and current

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Spring cleaning is one of the traditions that always sounds so good. It is spring after all. Who doesn’t want to have their home spring time fresh? After winter, throw open the windows and let the spring air and sunlight refresh your home. What can be more appealing?
Yet there is the other side of Spring cleaning, the actual cleaning part. While cleaning is actual work, it is one of those activities that when done well and with enthusiasm, can bring a great sense of fulfillment. It is even more fulfilling when you know that the cleaning products you use are safe for you, your family and your pets. While sometimes modern cleaning products are a must, many times there are great natural products that can accomplish much without harming the environment or causing people and pets harm. Here are just few.
Sunshine One of the best natural freshening and cleaning agents is good ole Sunshine. Many times what those musty pillows, drapes or feather mattresses need are just an afternoon in the sunshine to wipe away that left over stale winter smell. Not only does a good dose of sun take away the stale and put in the fresh, it often can brighten light colors.
Baking Soda This inexpensive additive is often a forgotten treasure. Add it to laundry, your mop bucket or even your bath every once in a while and you will be amazed at how it cleans, deodorizes, and softens water.
Cornstarch With just the right touch of elbow grease, cornstarch in a little water, is a super alternative that can be used to clean windows, polish furniture, shampoo carpets and rugs.
Soap This is the very definition of natural clean. You can find unscented soap in liquid form, flakes, powders or bars. It is biodegradable and will clean just about anything. Be sure to avoid using soaps which contain petroleum distillates.
White Vinegar Clean the windows, wipe down the cabinets, and mix in a bucket for just about anything. This kitchen ingredient cuts grease, removes mildew, odors, some stains and wax build-up.
Borax (sodium borate) This gem of an additive will do so much: it cleans, deodorizes, disinfects, softens water, cleans wallpaper, painted walls and floors, with ease. As a bonus, roaches hate the stuff.
Citrus Solvent Got something that really needs a kick behind it to clean paint brushes, remove oil grease and some stains? With just a little bit of effort you can find great cleaners that have things like orange oil or other citrus solvents. (Citrus solvent can cause skin, lung or eye irritations. Be careful if you are very sensitive as even natural products can be irritating.)
Lemon A lesser version of Citrus Solvent is this little secret ingredient that Grandma used. Since it is one of the strongest food-acids, it is effective against most household bacteria. Just be sure not to let it sit so long as to pit what you are cleaning.
So take care of your greatest investment, your home, with these easy to use eco-friendly work horses of the cleaning world.

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Feb

29

Creative Ideas for Curb Appeal in Early Spring

Posted by marywassef under Uncategorized

In a normal year, this is the time that I might suggest removing plants that have frozen and start working in some greenery that will work going into the spring and summer. Well, not this year. My air-conditioning is running as I write this. Spring flowers are coming sooner this year, and it seems likely that we are in for another scorcher this summer. Luckily we have gotten much needed rain to make the flowers bloom, but if your yard looks like mine, there are more than a few weeds that have also been revived.

Whether you are getting ready to market your home in our robust Seller’s market or if you just want to enjoy a lush yard going into this summer, here are some tips:

1. February marks the end of any chance of a freeze in Houston. Try not to laugh at the mere idea of a freeze, but there are years that we have those. Now is a good time to cut back roses and other plants that are over grown or perhaps unhealthy after the last growing season.

2. Now is a good time to thoroughly weed and add mulch to your beds. Mulch is always a key step before adding new seasonal color. A good layer of mulch both freshens the look of your garden and it will also help to protect your plants as the weather heats up.

3. Our grass took a real beating last summer. It is going to be very important to add new sod to large areas that where it scorched in the summer. It is also time to start fertilizing, mowing and edging. If you have been considering adding a sprinkler system, now is a great time. If you have to replace sod anyway, there is not a better time. An irrigation system in Houston is a terrific selling point for your home.

4. It is not too early for spring color and the first round of vegetables and herbs. There are many herbs that are not only great to cook with, but also make lovely additions to your landscape.

5. As you add color, consider native plants. Keep in mind that many plants that are listed as “Texas Natives” are really native to West Texas and may not work particularly well here in Houston. A good locally owned nursery should be able to help you to know the difference.

6. Large pots with greenery or color are always inviting. As we get into warmer weather they can be a challenge to keep sufficiently watered. You might consider tying in the planters with your watering system so you don’t need to hand water daily. Another option is to add succulents to those pots. Succulents add color and texture and they are terrific in Houston heat. They work year round in Houston and only need to be brought in on the rare occasions that we have a freeze.

7. Light it up. Just as lighting on the interior of your home is key, it is also a great way to highlight the outside of your home. Lighting can highlight an architectural feature, intricate landscaping or a wonderful tree. If this is a particularly strong aspect of your home, be sure to let your Realtor know so she can include dusk shots of your home in the marketing material.

8. Now is the time to dust off your outdoor furniture. Outdoor seating areas are an extension of indoor space and are inviting for potential buyers. Now is a comfortable time of year to spend outdoors, so it is especially important to let a potential buyer know how they might use the outdoor space.

Spring is here early this year, so enjoy the weather while you can. You can get some great advice at any of our local nurseries that specialize in landscape plants that work in Houston’s heat. You might stop by Buchanan’s or Joshua’s Native Plants for great advice and great plants. This also makes for a great time to show your home in the best possible light. The early spring has brought both flowers and buyers earlier than is typical. If you would like more information on today’s market or on listing your home, please contact one of the Realtors at Circa Real Estate.

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After listing and selling homes for the past 10 years I’ve realized times they are a changing. I think it’s important for sellers to remember these key tips when getting ready to put your house on the market.

* Strangers will be walking through your home during showings and/or open houses. Hide your valuables in a safe place. For security’s sake, remember to remove keys, credit cards, jewelry, and any other valuables from the home during the listing period or at least during showings. Also consider removing or hiding prescription drugs. Some seemingly honest people wouldn’t think twice about getting their hands on any of these items.

* Don’t leave personal information like mail or bills out in the open where anyone can see it. Be sure to lockdown your computer, laptop, IPAD and/or any other expensive electronic devices, prior to your showings.

* Do not show your home by yourself. If someone comes to your door claiming to be an agent and you have no scheduled appointment, ask them to call your agent to confirm an appointment. Predators come in all shapes and sizes. They can refer all inquiries to your agent.

* You are responsible for your pets. If possible, your animals should be removed during showings. If that isn’t possible make sure they are locked up. Fido may be the most friendly dog in the neighborhood, but when it comes to a stranger, you just can’t be sure. You don’t want to be held liable for any attacks or incidents related your pets.

* When leaving your home so that it can be shown, make sure all doors are locked. Other agents will be able to access the property through the lockbox. You don’t want any unwanted visitors entering the property without proper accessiblity.

I have done enough open houses to know to be aware of visitor’s patterns. I am aware of how important it is to protect your home and everything in it. Open houses are a big part of our marketing strategies. If you would like to discuss this information more or you are interested in listing your home please do not hesitate to call us. Successful listing and marketing of your home is our number one priority!

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Houston Real Estate update for the year 2011

December marks the seventh consecutive month of increased home sales; 2011 bests 2010 in sales volume and pricing

HOUSTON — (January 17, 2012) — After several months in which home sales figures were skewed by the effects of the 2010 homebuyer tax credit, the Houston real estate market concluded 2011 solidly in the black. December marked the seventh straight month of increased home sales and the month contained a host of indicators suggesting a healthy start to the new year. Prices of single-family homes across Greater Houston for full-year 2011 were up slightly from 2010. The median price reached an all-time high for a December in Houston and months inventory hit its lowest level in two years.

According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), December sales of single-family homes throughout the Houston market climbed 7.2 percent when compared to December 2010. Positive sales activity was recorded in every segment of the housing market except the luxury segment—those homes priced from $500,000 and above—which was unchanged year-over-year.

The average price of a single-family home was statistically flat at $219,791 compared to December 2010 while the December single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 1.9 percent from one year earlier to $160,000.

Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 6.1 percent in December compared to December 2010. Foreclosures comprised 20.5 percent of all property sales, remaining consistent with the levels they maintained for much of 2011. December’s median price of foreclosures held steady on a year-over-year basis at $82,550.

December sales of all property types in Houston totaled 5,460, up 6.6 percent compared to December 2010. Total dollar volume for properties sold during the month increased 7.5 percent year-over-year to $1.16 billion. On an annualized basis, sales of all property types were up 4.3 percent compared to 2010 levels while total dollar volume rose 5.2 percent to $13 billion.

“2011 ended on a very promising note,” said Wayne A. Stroman, HAR chairman and President/CEO of Stroman Realty.”"We spent a good part of the year struggling to accurately gauge the market because we were comparing to accelerated sales in 2010 that resulted from the homebuyer tax credit. Once we distanced ourselves from that period, we saw clear indications of a healthy market with a balanced supply of housing inventory and strong pricing—conditions that put Houston in an enviable position compared to many housing markets around the country. The key to sustaining that positive momentum in 2012 will be continued improvement in Houston’s employment numbers.”

Read more….

This information was posted by the Houston Association of Realtors

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