Register Real Estate Advisors

HOUSTON (realtynewsreport.com) – Sales of existing homes in Houston were 4 percent higher in 2011 than 2010, according to the Houston Association of Realtors.

In fact, December marked the seventh consecutive month of sales increases for the city.

Realtynewsreport.com reported that:

• Single-family      home sales rose 4 percent for the year while sales of all property types      increased 4.3 percent.
• On      a year-to-date basis, the average price rose 0.9 percent to $213,723 while      the median price ticked up 0.7 percent to $155,000. Total dollar volume      for 2011 climbed 5.2 percent to $13 billion compared with 2010.
• Month-end      pending sales for December totaled 2,907, up 3 percent from last year.
• The      number of active listings at the end of December fell 14.1 percent      compared with a year ago.

The following information is reprinted from REALTOR Magazine Online by permission of the National Association of REALTORS – copyright 2005 – all rights reserved.

Condominiums and townhouses offer an affordable option to single-family homes in most areas, but consider these facts before you buy.

1.  Storage.  Some condos have storage lockers, but usually there are no attics or basements to store belongings.

2.  Outdoor space.  Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit.  However, if you hate yard work, this may be the perfect option for you.

3.  Amenities.  Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home. 

4.  Maintenance.  Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in owrkers when you’re not home.

5.  Security.  Many condos have keyed entries and or even door attendants.  Plus, you’ll be closer to other people in case of an emergency.

6.  Reserve funds and association fees.  Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees agreed to by the condo board, whether or not you’re interested in the amenity or not.

7.  Resale.  The ease of selling your unit is more dependent on what else is for sale in your building, since units are usually fairly similar.  Single-family homes usually are more individual.

8.  Freedom.  Although you have a vote, the rules of the condo association can affect your ability to use your property.  For example, some condos prohibit home-based businesses.  Others prohibit pets.  Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer.

9.  Proximity.  You’re much closer to your neighbors, in a condo or town home.  If possible, try to meet your closest prospective neighbors before making a decision.

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 (Houston Chronicle) – The Harris County Housing Authority (HCHA) has purchased 91 waterfront acres on West Lake Houston Pkwy. to develop Patriots by the Lake, a master-planned community to serve as a living monument to America’s veterans.

The community will provide housing, employment, medical and ancillary support and recreation in and around its 44 parks and programmed open spaces.

Residences will consist of townhouses, condominiums and custom single-family homes ranging from 2,877 to 8,000 sf.

A marina district will also be developed and include a boardwalk, amphitheater, hotel, shopping and restaurants.

A “Wall of Heroes” memorial to honor fallen servicemen and women of the Iraq and Afghanistan conflicts will be accompanied by several monumental tributes throughout the community.