Register Real Estate Advisors

HOUSTON (Metrostudy) – Houston’s housing market appears to be building up steam, according to a recent report by housing data and consulting firm Metrostudy.

Area homebuilders started 18,417 new homes in 2011, a 2 percent decline from the 2010 total. But the 4,387 homes started in fourth quarter 2011 represent a 24 percent increase over last year’s tax credit-depressed quarterly starts count. Just over 4,890 new homes were closed last quarter, 388 more than the year before.

At the end of 2011, the city’s new home market had an inventory of fewer than 10,000 homes, a first since 1997. A 10 percent decline in new home closings in 2011 caused new home inventory to rise from 5.9 last year to 6.4 months.

But the city’s job growth should mean more work for builders this year.

“Based on the job growth of the last 12 months, the tight housing supply and the building confidence of the Houston market should lead to an increase in new home starts through the end of 2012,” said David Jarvis, director of Metrostudy’s Houston division.

Metrostudy said the city’s unemployment rate dropped to 7.6 percent in fourth quarter 2011, a full percentage point less than the previous quarter’s reading. Employment also grew by 3.3 percent annually.

HOUSTON (Houston Business Journal) – Houston is home to two of the country’s five top-selling master-planned communities, according to John Burns Real Estate Consulting LLC.

The Woodlands ranked second based on 945 home sales last year, up from 786 sales in 2010. Cinco Ranch came in third with 862 home sales, up from 823 sales in 2010.

Also cracking the top five was Alamo Ranch in San Antonio, with 500 home sales last year.

The top spot went to The Villages in Orlando, Fla., which had 2,307 sales.

Twelve of the top 50 master-planned communities in the survey are in Houston. A list is posted on the Houston Business Journal‘s website.

A total of 133 master-planned communities were surveyed by Irvine, Calif.-based John Burns Real Estate Consulting for the second annual ranking.

Ever wonder how to find the right builder to build your family a home?  Below are my Top 10 recommendations for finding the builder that is right for you!  If you would like to purchase a home, RREA has many experienced and seasoned Realtors that can help you and there is no cost to you.  Your builder will pay our commission!  Call RREA today to find the Realtor that best meets your real estate needs – 281.288.3500.

10.  Use a Realtor!  Realtor’s comply to a strict Code of Ethics and are licensed by the state.  They have a fiduciary responsibility to protect your best interest in a transaction.  Builders do not fall under this Code of Ethics.  They are looking out for their best interest, and many times have their attorneys write their contracts for them.

9.  Find the areas of town you want to live in and interview the builders that will build in those areas.

8.  Get Pre-Approved for your Financing or have a letter from your financial institution stating how much home you can afford to buy.

7.  Figure out the type of home you want – ranch style, basement, two story, patio home, etc.

6.   If your Realtor is a member of the Greater Houston Home Builders Association they have access to the list of builders who construct homes in the area.  All of the Realtors at Register Real Estate Advisors has access to this membership list.

5.  Once you have narrowed down a list of builders, see some of the homes they have under construction and some that have been completed.  Ask for testimonials from their clients or references.

4.  Before picking a floorplan, walk through as many new homes as you can.  You can do this by attending open houses or visiting new communities.  This way you can see the differences between builders and find ideas you want to incorporate in your new home.  Check out the quality of the homes and see what building trends they use (bay windows, art niches, etc.)

3.  Remember that you will be picking your tiles, carpet, countertops, paint, appliances, and much more.  When touring homes and looking at magazines, inspect these items to find out what you like best.  Take lots of notes to share with your builder and photos if possible.  Ask lots of questions!

2.  Your goal should be to find a builder you trust and feel comfortable talking to.  You will have a close relationship during the months that your home is being built.

1.  When you finally pick your builder, ask about his company history, experience, philosophy, and building and payment process.  Talk with the builder at length about what your expectations are for the new home.

November 2011 real estate search results are in and Houston, TX was the #27 most searched market in the country in November 2011, based on data released today by Realtor.com, the #1 homes for sale real estate web site.  The Median list prices for homes in Houston, TX hit $174,500 in November 2011, a 2.79% increase from one year ago this month, and -0.20% decrease from October 2011.  The national median list price in November 2011 was $189,900, a 4.05% increase compared to November 2010.  Active for sale inventory of homes in Houston, TX in November 2011 leveled out at 24,561, a -21.68% decrease compared to November 2010. National inventory counts for November 2011 were 2,014,352, a -21.30% decrease as compared to a year ago.  The median age of inventory in Houston, TX in November was 91 days, a 2.25% increase compared to October 2011.  Nationally, the median age of inventory was 114 days, a 3.64% increase compared to October.

HOUSTON (Houston Business Journal) – Metrostudy President Mike Inselmann predicts 2012 will bring about a 10 percent increase in both single-family home starts and existing home sales in Houston.

Speaking Wednesday at the 2012 Houston Housing Forecast, Inselmann predicted the number of home starts will rise from 18,000 in 2011 to as much as 20,500 this year.

He also also predicted sales of existing single-family homes will increase by at least 10 percent, rising from 2011′s 54,000 to as much as 59,400 this year.

First of all, home ownership is the American Dream.  It’s creating a home for your family with potential finacial rewards in the future.  How can you benefit in the future from home ownership?  Appreciation.  Usually land and homes appreciate in value over time.  Historically, your home will be worth more in the future than when you purchased it, but you can’t sell it the year after you purchase it.  It’s considered a long term investment.  As your home appreciates and you have been paying down the mortgage, you can use the equity in your home to move to a more expensive or nicer home.  Or move to a smaller home and use that equity to pay off bills, pay for a child’s college, or fund your retirement.  It gives you some flexibility for your future.  If you don’t want to sell the home, you can still tap into the equity by refinancing or getting a home equity loan to remodel or make a large purchase.  Basically, you can leverage your property.  This is just another benefit of home ownership.  Lastly, you get tax breaks when you own a home.  You can deduct property taxes and mortgage interest.  Owning a home has always been a wise investment.  If you would like to know more about the benefits of home ownership, please call Register Real Estate Advisors at 281.288.3500 where we can advise you on purchasing land, a home, or any residential or commercial property.  Our Realtors fall under a strict code of ethics and can help you make the best financial decision for your family!

WASHINGTON, D.C. (Urban Land Institute) – The U.S. Chamber of Commerce has released its ”Enterprising States 2011″ report, and it enhances Texas’ reputation for being a business-friendly state.

The Lone Star State ranked sixth on the list of top ten states for low business taxes and regulations. The report said “the Lone Star State is a low-tax state that offers a low cost of living and has an enterprise-friendly climate that’s paying off with high job growth rates. Recent state initiatives include a business tax reform that raises the revenue exemption.”

Ahead of Texas were Tennessee, South Dakota, Wyoming, Alaska and Indiana.

According to the Urban Land Institute, “states were ranked in a variety of performance metrics, including their tax and regulatory environments. Those environments were compared in five ways: overall state and local tax burdens, corporate taxes, small-business costs, state government budget gaps, and cost-of-living indices.”

The U.S. Chamber of Commerce noted that states making the top ten were mostly inland locales, saying desirable coastal states don’t always need incentives to attract business investment and expansion.

HOUSTON (Houston Business Journal) – A new report from Clear Capital provides further evidence that Texas housing markets are faring better than the nation’s.

According to the real estate data provider, the average home price in Houston dropped .8 percent in 2011. Nationally, prices dropped 2.1 percent.

In fourth quarter 2011, the city’s home prices increased by 1.8 percent compared with the national decrease of .4 percent.

Clear Capital expects Houston home prices to increase by 3 percent this year, compared with the nation’s .2 percent.

PLANO (HousingWire.com) – Many jobless homeowners unable to make their monthly mortgage payments will soon get a little help from Fannie Mae and Freddie Mac.

The government-sponsored housing finance companies have announced plans to allow such borrowers to defer part or all of their mortgage payments for up to 12 months while they are out of work.

Fannie Mae will require mortgage servicers to install a new program providing forbearance relief to unemployed borrowers beginning March 1.

Servicers will be able to provide up to six months of relief without getting approval from the government-sponsored enterprise. Special consideration can be given to borrowers who require up to 12 months of forbearance.

Freddie Mac will begin offering 12-month forbearance plans on Feb. 1.

Delinquent borrowers and others on the verge of default are eligible for the program. Second homes and investment properties will not be considered.

Servicers must determine that a borrower has less than 12 months worth of mortgage payments in reserves and has monthly housing expenses above 31 percent of their income before extending a forbearance plan.

COLLEGE STATION (Real Estate Center) – Texas gained 227,800 nonfarm jobs from November 2010 to November 2011 according to the Center’s latest Monthly Review of the Texas Economy. That represents an annual growth rate of 2.2 percent compared with 1.2 percent for the United States.

The state’s nongovernment sector grew at an even faster rate, adding 292,700 jobs (3.4 percent) compared with 1.7 percent for the nation’s private sector.

Texas’ seasonally adjusted unemployment rate fell to 8.1 percent in November 2011 from 8.3 percent the year before. The nation’s rate decreased from 9.8 to 8.6 percent.

All Texas industries except the information industry and the state’s government sector had more jobs than the same time a year ago. The state’s mining and logging industry ranked first in job creation, followed by the professional and business services industry and the leisure and hospitality industry.

Abilene, Wichita Falls, Killeen-Temple-Fort Hood and College Station-Bryan were the only metro areas that had fewer jobs in November 2011 than in November 2010. Victoria ranked first in job creation followed by Corpus Christi, McAllen-Edinburg-Mission, Lubbock and Laredo.

The state’s actual unemployment rate in November 2011 was 7.5 percent. Midland had the lowest unemployment rate followed by Amarillo, Odessa, Lubbock and San Angelo.