Register Real Estate Advisors

COLLEGE STATION (Real Estate Center) – Sales of existing single-family Texas homes in December were up 4 percent from a year ago, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.

More than 16,500 homes were sold, data showed. The median home price was $150,700, about the same as a year ago, and the state’s overall inventory was at six months.

December 2011 MLS data for many Texas cities are available on the Center’s website. Here is a sampling (data current as of Jan. 30, 2012):

HOUSTON (GlobeSt.com) – Apache Corporation has not only renewed its lease of 365,000 sf at the Post Oak Central office building in Houston’s uptown submarket, it has tacked on an additional 132,000 sf.

The oil company signed the lease renewal for five years beyond the expiration of its current lease, which originally was to end later this year.

This is another in a string of large commercial leases that have occurred in Houston over the last couple of months.

Last month, Noble Energy leased the 497,000-sf former Compaq headquarters in northwest Houston. In December, Shell Oil renewed its 1.2-million-sf lease at its downtown One Shell Plaza and Two Shell Plaza.

Cushman & Wakefield represented Apache in the lease negotiations. Crescent Real Estate Holdings represented the building owner.

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.

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!

HOUSTON (Houston Chronicle) – Real estate experts are optimistic about the Houston market’s prospects in 2012. Several recently shared their forecasts with Nancy Sarnoff of the Houston Chronicle.   Here’s what they had to say.

Housing
Houston is going to see somewhere around a 5 percent increase in home sales and maybe as much 2 or 2.5 percent increase in median price, according to Real Estate Center Research Economist Dr. Jim Gaines. He said that’s still lower than the historical norm, but those are better numbers than the last two or three years.

Housing Permits
Bohlke Consulting Group Vice President Gary Latz predicts that the annual 2011 number will be 21,500 permits. This momentum will carry forward into 2012 due to strong job growth and low interest rates. The firm projects a minimum of 5 percent growth in new-home permits for calendar year 2012 over calendar year 2011. This translates to nearly 22,600 permits.

Foreclosures
Both foreclosure postings and actual foreclosures in Harris County declined year-over-year from 2011 compared with 2010. Amanda LeCureux, managing partner with Foreclosure Information & Listing Service, expects these declines to modestly accelerate in 2012.

Apartments
Apartment Data Services President Bruce McClenny said available high-end units are scarce, and it will take up to 18 months before any significant number of new units become available. He said to expect around 9,000 units to be delivered in 2012 and approximately 10,000 units in 2013.

Office Space
Transwestern Executive Vice President J. David Baker expects continued strong job growth to generate four to six million sf of positive absorption. He said the only thing that might hold it to the low end is energy and energy engineering companies not finding enough qualified people.

Retail
Wulfe & Co. President Ed Wulfe expects to see at least a 25 percent increase, or approximately 1.5 million square feet, in new retail construction in 2012. This will exceed the total amounts built and opened in each of the previous two years. Active growth within Loop 610, particularly of supermarkets, will prevail.

The September 2011 real estate search results are in and Houston, TX was the #31 most searched market in the country in September 2011, based on data released today by Realtor.com, the #1 homes for sale real estate web site.  Median list prices for homes in Houston, TX hit $174,000 in September 2011, a 2.35% increase from one year ago this month, and -0.51% decrease from August 2011.  The national median list price in September 2011 was $190,000, a 1.60% increase compared to September 2010.  The median age of inventory in Houston, TX in September was 85 days, a 2.41% increase compared to August 2011.  Nationally, the median age of inventory was 107 days, a 3.88% increase compared to August.

Are you planning to buy a home near the new Exxon Mobile Houston Campus?  Exxon Mobile has been planning to consolidate many of its Houston offices into a new campus which will relocate many of the employees.  The new campus will be located on a 385 acre site between Spring and The Woodlands in Harris County.  Move in is slated for early 2014, so if you will be moving to this campus you will want to relocate your family soon.  Register Real Estate Advisors is located within five miles of the new campus.  Our agents are well trained and specialize in the surrounding communities.  If you are planning to relocate to this area, move your family with the security of an agent that knows the area well and can help you find the best property to meet your family’s needs.  Call us today to find the agent that will best meet your needs at 281.288.3500.

The economic impact of this new campus has been estimated to create 44,000 jobs.  That will mean a lot of people moving to the Spring and Woodlands area.  This project will provide significant economic benefits for Texas and the local economy even while under construction.  It is estimated that housing prices will rise as we approach 2014.  So I encourage you to begin planning your move now so that you can get the best interest rate, location, and price for your new home.

I feel it is very important and necessary to advise Consumers to be aware of an alarming issue in the real estate community.  Right now the market is down and has been since 2007.  As a result, many long time agents are getting full time employment jobs and leaving their real estate careers for the weekends.  As a consumer with a real estate need, you will want a full time Realtor that can help you anytime, not just after business hours.  The same can be true for your lender and inspector.  You want someone you can not only get in contact with, but someone with a focus on their real estate career.  Someone who has the experience, training, and dedication for every real estate market.  We all know the re market swings up and down, but if you are an agent that’s not in it for the long haul, I would not want you helping me with one of the biggest and most important decisions in my life.  Please choose wisely when you pick a Realtor.  

Ask your Realtor questions about their dedication to the industry and what alternate income streams they have.  You may find your Realtor really isn’t a real estate agent at all, they may be a flight attendant, a lender, insurance salesman, or waiter.  Ask the questions and consumers beware of part time realtors who want to make money off of you in real estate without having to commit to the industry. 

Choose someone who keeps up with industry news and is ready to help you any day of the week!  Someone who works in real estate daily! 

At RREA, you will find dedicated Realtors that are experienced and in business for the long haul, no matter what the market is doing!

With housing interest rates still at historic lows, now is a great time to apply for a mortgage.  At Register Real Estate Advisors, we have an in house lender that can get you pre-approved for a mortgage.  You can complete our secure online application at RREA.com by following the “mortgage” links.

Currently, 30-year, fixed-rate mortgage rates are below 5%, according to Freddie Mac—among the lowest rates recorded in 40 years.  As recently as June 2007, those rates were almost 7%, and they were in the double-digits a little over 20 years ago.

Why are interest rates so low?  Much of it is due to the recent recession and its aftermath.  With the economy in the dumps, demand for loans went down.  At the same time, investors were looking for safe places to put their money.  Many investors moved away from stocks and towards fixed-return investments such as U.S. treasury securities and mortgages.  The Federal Reserve increased funds in the financial system to keep interest rates low and to support the mortgage market.  The combination of weak loan demand and the influx of funds translated into low interest rates on mortgages and other loans.  This is a great advantage for home buyers that have good credit.

Since the middle of 2009, the economy in the United States has gotten better, but the recession did not end quickly and continues to drag on.  The economy is still in the early stages of recovery.  The interest rates will probably go up over the next two years, so homeowners should take advantage now.  Why aren’t more taking advantage now?  Some don’t have good enough credit to get a loan, while others have lost their jobs and no longer have the stability of income to purchase.  Others are afraid of how long the recovery of the economy will take, so they don’t want to commit to a new mortgage.  If you have a good income and good credit, this might be the best time to purchase a home.  This opportunity will not last forever because as the U.S. economy rebounds, demand for loans will rise.  When the Federal Reserve sees that the economy is in better shape, it will probably take away the additional liquidity it has injected into the financial markets and interest rates will rise in the not too distant future.  Most consumers do not realize that when interest rates go up, the effect on monthly payments can be dramatic.  A $200,000, 30-year, fixed-rate mortgage with a 5% interest rate has a monthly payment of around $1,000.  At 6% the monthly payments increase to about $1,200—an increase of nearly $200 a month.  Total interest payments over the life of the loan increase by thousands of dollars.

Home prices have stabilized or even started to inch upwards in many markets, so it is unlikely prices will drop any more.  Not could be the best time to purchase a home in American History.  To find your dream home anywhere in the Houston area, call RREA today.  We have highly educated, experienced agents, that can help you find the home of your dreams and protect you in the purchase of one of your largest investments.  Call us to day to get started – 281.288.3500.

Moving to the Houston area?  I would like to be the first to welcome you and assist you with all of your real estate needs whether you are moving to Houston, The Woodlands, or Spring, Texas.  As a relocation specialist, I can help you sell your current property anywhere in the world and find a new one in this area.  As a Realtor with Register Real Estate Advisors, I help relocate families all over the globe.  Please call me today and I will be happy to send you a copy of the Houston Newcomer Guide.  It will help you narrow your search area and give you a lot of helpful information about the communities in the surrounding area.  I would like to help you with all of your relocation needs and my website offers a wealth of information.  You can search the entire Houston MLS database on my website and see my featured listings, too.  You can read my award winning blog and catch up on all the latest housing news.  Please call me today so we can get started.  When you talk to your human resources coordinator, please ask for me by name!  Shannon Register 832.628.SELL