Are you getting ready to make your next move to the Houston area? I would like to be the first to welcome you and assist you with all of your real estate needs. As a relocation specialist, I can help you sell your current property and find a new one in this area. As a RE/MAX agent, I help relocate families all over the globe. Please call me today to help you with all of your relocation needs. Ask for me by name! 832.628.SELL!
News Release Issued: January 5, 2010 8:01 AM EST
SEATTLE, Jan. 5 /PRNewswire/ — Real estate Web site Zillow.com today announced it broke multiple records for site traffic and user activity in 2009. An average of 8.2 million unique users visited Zillow each month during this period, which is an increase of 57 percent year-over-year (i). Additional milestones include:
(Logo: http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO)
“2009 was a wild year for real estate, with continued home value declines, government intervention, record low mortgage rates, and an enormous amount of consumer uncertainty about what the future holds,” said Spencer Rascoff, Zillow’s chief operating officer. “As a result, people flocked to Zillow for information and advice. Uncertainty always benefits information providers, and 2009 was the year that Zillow solidified its place as a clear leader in providing millions of people with real estate information.”
“It also was the year we saw a real shift change in how people consume and find real estate information. Within just eight months of launching our Zillow iPhone App, it’s been downloaded nearly 900,000 times and over 2 million homes are viewed via the Zillow iPhone App each month. It’s clear to us that more and more people want Zillow’s real estate information on location, while touring neighborhoods and homes, and we expect this trend to magnify in 2010,” Rascoff said.
To learn more about Zillow, visit the Zillow Blog at www.zillow.com/blog. Learn more about Zillow Mobile and the Zillow iPhone App by visiting www.zillow.com/iphone.
About Zillow.com
Zillow.com is an online real estate marketplace where homeowners, buyers, sellers, renters, real estate agents and mortgage professionals find and share vital information about homes and mortgages. Launched in early 2006 with Zestimate® home values and data on millions of U.S. homes, Zillow has since added homes for sale and homes for rent, a directory of real estate and lending professionals, Zillow Advice and Zillow Mortgage Marketplace. One of the most-visited U.S. real estate Web sites, with more than eight million unique visitors per month, Zillow’s goal is to help people become smarter about homes and real estate in every stage of their lives — home buying, selling, renting, remodeling and financing. The company is headquartered in Seattle and has raised $87 million in funding.
Zillow, Zillow.com and Zestimate are registered trademarks of Zillow, Inc.
(i) Source for unique users (monthly unique visitors) and page view data: Omniture.
Photo: http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
SOURCE: Zillow.com
AUSTIN (Austin Business Journal) – Grubb & Ellis Co. ranked Austin the best U.S. city for long-term investment in commercial real estate, while Houston placed sixth.
The California-based company expects commercial real estate to falter at a slower rate in 2010, bottoming out at the end of the year and beginning a slow recovery in 2011.
Grubb & Ellis forecasts the investment market to rebound slightly in 2010, with some assets entering the market. This uptick should prompt increased sales volume of 20 to 30 percent. The forecast also predicts the record-high office vacancy rates to continue, stretching as high as 19 percent by the end of the year.
News Release Issued: January 5, 2010 7:00 AM EST
SEATTLE, Jan. 5 /PRNewswire/ — The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased twelve basis points last week to 5.05 percent, up from 4.93 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®. Rates for 15-year fixed mortgages rose eleven basis points to 4.48 percent from 4.37 percent, and 5-1 adjustable rate mortgages increased seventeen basis points to 4.15 percent, from 3.98 percent the week prior.
Although rates were higher, the volume of mortgage requests last week rose 49 percent from the prior week, when requests were down significantly due to the Christmas holiday. Of last week’s requests, 32 percent were for refinance loans, 65 percent were for purchase loans and 2 percent were for home equity loans. The prior week, 35 percent of requests were for refinance loans, 63 percent were for purchase loans and 2 percent were for home equity loans.
Mortgage Type Average Rate Average Rate Change in
------------- ------------ ------------ ---------
Week ending 1/3/10 Week ending 12/27/09 Basis Points
------------------ -------------------- ------------
30-year fixed 5.05% 4.93% +12
------------- ---- ---- ---
15-year fixed 4.48% 4.37% +11
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5-1 ARM 4.15% 3.98% +17
------- ---- ---- ---
On Monday, rates for 30-year fixed purchase mortgages had fallen slightly, with the average rate on Zillow Mortgage Marketplace at 5.00 percent. For current, up-to-the-minute rates, visit www.zillow.com/Mortgage_Rates/.
Thirty-year fixed mortgage rates varied by state. Minnesota mortgage rates, New York mortgage rates, and Pennsylvania mortgage rates increased the most, from 4.89 percent to 5.04 percent in Minnesota, from 5.12 percent to 5.26 percent in New York and from 4.99 percent to 5.13 percent in Pennsylvania. New York mortgage rates (5.26%) and Connecticut mortgage rates (5.19%) were the highest in the country, while Colorado mortgage rates (4.99%) and California mortgage rates (4.99%) were the lowest. California mortgage rates were the most requested among all states.
Average 30-yr. Fixed Average 30-yr. Fixed
State Rate Rate Change in
----- -------------------- -------------------- ---------
Week ending 1/3/10 Week ending 12/27/09 Basis Points
------------------ -------------------- ------------
Arizona 5.15% 5.08% +7
------- ---- ---- ---
California 4.99% 4.88% +11
---------- ---- ---- ---
Colorado 4.99% 4.86% +13
-------- ---- ---- ---
Connecticut 5.19% 5.06% +13
----------- ---- ---- ---
Florida 5.02% 4.90% +12
------- ---- ---- ---
Georgia 5.11% 5.01% +10
------- ---- ---- ---
Illinois 5.15% 5.10% +5
-------- ---- ---- ---
Maryland 5.11% 5.04% +7
-------- ---- ---- ---
Massachusetts 5.11% 4.99% +12
------------- ---- ---- ---
Minnesota 5.04% 4.89% +15
--------- ---- ---- ---
New Jersey 5.11% 4.98% +13
---------- ---- ---- ---
New York 5.26% 5.12% +14
-------- ---- ---- ---
North Carolina 5.15% 5.03% +12
-------------- ---- ---- ---
Oregon 5.00% 4.89% +11
------ ---- ---- ---
Pennsylvania 5.13% 4.99% +14
------------ ---- ---- ---
Tennessee 5.06% 4.94% +12
--------- ---- ---- ---
Texas 5.03% 4.93% +10
----- ---- ---- ---
Utah 5.03% 4.91% +12
---- ---- ---- ---
Virginia 5.13% 5.01% +12
-------- ---- ---- ---
Washington 5.06% 4.93% +13
---------- ---- ---- ---
The Zillow Mortgage Rate Monitor is compiled each week using thousands of mortgage rates for conforming loans quoted on Zillow Mortgage Marketplace by mortgage lenders to borrowers who have submitted loan requests. State-level data is gathered for the top 20 states with the highest quote volume on Zillow. Learn more about our rates.
About Zillow Mortgage Marketplace
Zillow Mortgage Marketplace is a free, open, and transparent lending marketplace, where borrowers connect with lenders to find loans and get the best mortgage rates. Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders. Zillow Mortgage Marketplace also provides mortgage calculators, mortgage advice, mortgage widgets, and lender directories.
Zillow.com and Zillow are registered trademarks of Zillow, Inc.
SOURCE: Zillow.com
The appraised value of a property is a professional estimate of a property’s market value. It’s based on the recent sales of similar properties, square footage, location, construction quality, and more. An appraisal varies in cost depending on the price and size of the home. Most lenders require appraisals as part of the loan application process.
But don’t confuse the appraisal with market value. The appraised value is a certified appraiser’s opinion of the worth of a home at a given point in time. And it should give you a pretty good idea what your home will sell for. Ultimately, though, your home’s market value is the price a buyer is willing to pay for it. Having your home professionally appraised before putting it on the market will help you and your Texas REALTOR® determine a fair asking price. There are other methods of determining the value of your home, including a comparative market analysis (CMA). A CMA compiles information and sales prices from homes similar to yours from your neighborhood that have sold recently. Many Realtors perform CMAs for clients and potential buyers.
Whether you rely on a CMA, an appraisal, or both, you will be able to price your home according to objective measures rather than a gut feeling or a number plucked from the air.
This information is provided by the Texas Association of Realtors® website.
HOUSTON (Houston Business Journal) – Area home prices hit a seven-month high in April amid the area’s 20th consecutive monthly fall in the number of single-family home sales.
The average sale price of a single-family home slipped 5.8 percent in April to $194,222 from $206,239 in April 2008, according to the Houston Association of Realtors. However, the figure is at its highest level since September.
Additionally, demand for single-family rentals increased again last month.
HOUSTON — (July 15, 2008) — Despite a tenth consecutive monthly decline in sales, the average and median prices of a single-family home in the greater Houston area soared to record highs in June, according to statistics released by the Houston Association of REALTORS® (HAR). Single-family home sales slid 14.7 percent on a year over year basis. However, the number of closed sales was the highest since last August.
The average price of a single-family home rose by 4.5 percent last month to $228,448, surpassing the previous high of $218,583 in June 2007. The median price of a single-family home rose 1.3 percent last month to $162,000, surpassing its previous high of $160,000, also from last June.
Sales of all property types for June 2008 totaled 7,237, reflecting a 15.1 percent drop compared to June 2007. Total dollar volume for properties sold during the month was recorded at $1.6 billion versus $1.8 billion one year earlier, a 10.7 percent decline.
“We’re not out of the woods, however the Houston real estate market continues to show positive indicators that others around the country consider enviable,” said Michael Levitin, HAR chairman and principal of HTownRealty.com. “Single-family and townhome pricing now exceeds levels seen even during the 2007 record year and the Days on Market figure has improved steadily each month this year. A number of brokers, particularly those specializing in Inner-Loop listings, have recently announced record months for sales performance, underscoring the point that real estate is local.
June Monthly Market Comparison
All listing categories combined, Houston’s overall housing market saw a continuation of mixed results in June. While both average and median single-family home sales price rose on a year-over-year basis, total property sales and total dollar volume tumbled.
The number of available homes, or active listings, at the end of June was 53,792 properties, a 2.0 percent increase over June 2007. The figure was up 487 properties from May 2008.
Month-end pending sales – those listings expected to close within the next 30 days – totaled 4,456, which was 20.6 percent lower than last year and strongly suggests the likelihood of another sales decline next month. The month’s inventory of single-family homes for June came in at 6.7 months, a slight increase from May’s 6.6-month figure. This compares to the June 2007 single-family homes inventory of 6.2 months.
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