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Home Sales Real Estate Report for The Woodlands TX – February 2012

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on February 7, 2012

Here’s a collection of home sales reports that includes:

What’s the Average Sold Price of a home in The Woodlands TX?

What the Median Sold Price for homes in The Woodlands TX?

How long does it take to sell a home in The Woodlands TX?

What’s the Months Supply Of  Residential Real Estate Inventory in The Woodlands TX?

What’s the Average Sold Price To Listed Price Percentage in The Woodlands TX?

What’s the Average Price Per Square Foot for homes sold in The Woodlands TX?

The Woodlands Texas Real Estate Market Report / January 2012 / Prudential Gary Greene Realtors Research Forest Office

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The Woodlands Texas Real Estate Market Report Collection – January 2012

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on January 3, 2012

Can’t see the video – Click Here

The Woodlands Real Estate Market Reports / December 2011

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Months Supply of Residential Real Estate “For Sale” Inventory in The Woodlands TX, January 2012

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on January 3, 2012

The Woodlands Texas Real Estate Report

Months Supply Of “For Sale” Listing Inventory – January 2nd, 2012

 While mulling over these inventory numbers, keep in mind these figures represent big averages across The Woodlands.  Real estate is hyper local in nature and market conditions for your specific property, in your specific neighborhood may be different that the big average you see below.  To find out what’s happening in your neighborhood, contact us (281-367-353) and we can provide you with an up to the minute, on-target, Months Supply Of Inventory report. We don’t charge for this service, so give us a call and we’ll send you your free report – pronto.

January 2nd, 2012 – Months Supply Of For Sale Listing Inventory – The Woodlands TX PRICE RANGE.  .  .  .  .  .  MONTHS SUPPLY OF LISTING INVENTORY

$000,000 – $200,000 . . . . . . . . . . . . . . . . . . . .   2.2

$200,001 – $300,000 . . . . . . . . . . . . . . . . . . . .   3.8

$300,001 – $400,000 . . . . . . . . . . . . . . . . . . . .   3.7

$400,001 – $500,000 . . . . . . . . . . . . . . . . . . . .   3.3

$500,001 – $600,000 . . . . . . . . . . . . . . . . . . . .   3.4

$600,001 – $700,000 . . . . . . . . . . . . . . . . . . . .   4.6

$700,001 – $800,000 . . . . . . . . . . . . . . . . . . . .   9.2

$800,001 – $900,000 . . . . . . . . . . . . . . . . . . . .   7.7

$900,001 – $1,000,000 . . . . . . . . . . . . . . . . . . .  8.9

$1,000,001+ . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.5

Is it a Buyer’s Market or a Seller’s Market? According to real estate economists, 6 months supply of For Sale Inventory represents a balanced market.  A higher number means it’s leaning towards a buyer’s market, less than six months, would indicate a seller’s market. During the winter selling season (November to January), listing inventory ebbs to its lowest point.  Mid January, inventory and selection begin to swell, beginning in February buyer activity and sales begin to heat up.  If you’re thinking of selling, keep in mind the key to salability and competitive positioning is merchandising (staging), marketing and pricing.  Correctly tweak and amplify these three factors and you’ll be one of the successful sellers attracting a qualified buyer.  Ignore one, two, or three of these salability factors and the property will languish, even in a strong market. Keep in mind, this snapshot provides a broad and general overview, what is happening in your neighborhood could very well be different.  As I shared earlier, if you’d like a free and up to the minute Market Analysis for your property and neighborhood just let me know – Ken Brand 832-797-1779.

Here’s a report month by month. . .

Thanks.

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How Mortgage Rates in the Awesome-LOW 4% Range Makes Your Purchase Power More Muscular Than EVER!

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on August 16, 2011

When you hear and read about LOWER Than Low Mortgage Interest Rates, this is what the experts are talking about.

This is a 5 year chart for 15 Year Mortgages looks like.

How does an Awesome-LOW mortgage rate effect your monthly mortgage payment?

It’s one thing to read about historically low mortgage rates.  It’s a breath taking to understand how an Awesome-Low mortgage rate impacts a monthly payment.  Let’s take a look at some examples.

30 Year Fixed Rate @ 4.25% = $4.92 per $1,000 dollars borrowed OR $492 per $100,000 borrowed. *

Think about how muscular your purchase power is with today’s Awesome-LOW mortgage rates:

$100,00 is $492 per month.

$200,00 is $984 per month.

$400,000 is only $1,968 per month.

In The Woodlands market area you’d pay (depending on location, square footage and condition) around $1,000 to rent a home valued at $100,000.  You’d pay around $2,000 for a property valued at $200,000 and over $3,000 for a home valued above $400,000.

  • If you’re renting and you have the ability to buy, and you don’t, you’re throwing your money away.  Don’t rent and enrich your landlord, enrich yourself – own.
  • If you have a mortgage above 5.5%, you might save yourself hundreds of dollars a month by refinancing at todays crazy low mortgage rates.  Refinance now.
  • If you’re thinking of moving UP, now is the time take advantage of the muscular purchase power these Awesome-Low mortgage rates provide you. Move now.
  • If you’re thinking of downsizing and you wait, as mortgage rates rise, you’ll only pay more for a smaller place. Move now.
  • If you’re have more than 16 years left on your current mortgage, refinancing with a 15 -Year mortgage might save you money every month and over $100,000 in the long run. Consider a 15-year mortgage refinance.
  • If you’re a seller, today’s mortgage rates makes the pool of qualified buyers larger than it will be when mortgage rates are higher.  Which means a faster sale and Top Dollar.
  • Don’t regret inaction and paying more – act now.

We’re all feeling the glarmy about the anemic economic, whipsaw stock market and sea-saw savings and 401K plans.  The one bright light opportunity that delivers long-term and locked in financial benefit is locking in and taking advantage of Awesome-LOW mortgage rates.

If you’ve been waiting, now’s the time.  Give me a call at 832-797-1779 if I can be helpful.  If you’d like a no-obligation and supremely confidential conversation about a variety of mortgage plans, current rates, loan qualifications, purchase power analysis, Dana Snider, our Gibraltar Mortgage Service Home Mortgage Counselor would be happy to answer your questions.  You can reach her at 832-217-4087.

*Mortgage rates can fluctuate daily, they could dip lower or float higher as you read this.  The figures above reflect Principal and Interest only.  When buying home your total monthly payment would include Principal, Interest, Property Taxes and Insurance.

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Thanks for reading.

 

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Feet On The Street Real Estate Report for The Woodlands TX – May 5th, 2011

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on May 5, 2011

What it feels like.

We have a lot to be thankful for.  The Woodlands real estate market is unique and strong.  I imagine you’re noticing fresh For Sales signs in the neighborhoods.  Even better, you’re seeing SOLD signs too.

Agents are walking faster and smiling.  This means they are busy and activity is brisk.  Last year the first quarter of 2010 was booming because of the Federal Tax Credit. This year, without the free money Tax Credit stimulation, sales in The Woodlands have been slightly less fizz, but very strong none the less.

Last year, after the Tax Credit expired (April 15th, 2010) sales and real estate activity swooned.  For example, written sales in April of 2010 totaled 269.  After the Tax Credit went bye-bye May 2010 sales plunged to 188.  Gulp a 30% drop. That won’t happen this year.  We expect that sales in May will rise above this years April total of 232 sales.  Historically, except when we have real estate depressions, sales activity will rise each month through August.  2011 will be better than 2010 when all is said and done.  Amen.

If you’re thinking of making a move, now would be the time to take advantage of very low mortgage rates.  All the experts agree that mortgage rates will go higher before they go lower.  Most likely we won’t see these low levels again.

Current indicators

I understand that the average person might be a bit skeptical about a real estate salesman’s (me) positive outlook.  I can’t blame you.  So here’s some empirical data to help support my view of things.

We use a Centralized Showing System to manage the coordination of  Showing Appointment.  One of the cool features about the system is the ability to track showing appointments (aka – buyer activity) across zip codes and price ranges.  What we know is that when Showing Appointments grow, sales follow.  As you can see from the picture below, Showing Appointments are growing.  Sales will surely follow.

Another indicator is Months Supply of For Sale Inventory.  Real estate economists believe that six months of For Sale Inventory represents a balanced market.  Less that six months represents a Seller’s Market.  More equals a Buyer’s Market.  Take a look at this picture and draw your own conclusions.  If you want a break down by Price Range – CLICK HERE.

How long it takes to sell a home is another real estate market strength indicator.  If properties are well marketed, merchandised and priced, they’ll sell.  Here’s what the trend in Average Days On Market looks like in The Woodlands TX.

And last but not least, we can get a feel for the future by looking at past Average and Median Sold Prices.

I know we’re bombarded by national media reports of worst case real estate markets, but thankfully, we don’t live in those places, we live in The Woodlands.  In fact, there is no such thing as a National Real Estate Market, any more than there is a National Weather Report.  Why would we care what homes are selling for or what what the weather is going to be like in Las Vegas, Miami or Detroit? The only thing that is relevant to you and I is the weather report (unless we’re traveling) and real estate market where we live, work and play.  In fact, these numbers I’m sharing here only represent an average of a broad market – The Woodlands TX.   If you’re thinking of making a move, you’ll want to ask your Realtor to run these kinds of reports for your specific neighborhood.

Take a look at the trend for the past two years.  That trend line looks pretty sweet to me.  How’s it looking to you?

In conclusion. . .

We’re blessed.  If you’re thinking of making a move, now appears to be a safe time.  If you’d like to preview the entire Real Estate Report you can CLICK HERE. If we can be helpful let me know – Ken Brand 832-797-1779.

PS.  If you are thinking of making a move and you’re wondering who to choose, we’ve had some pretty good success helping our sellers net more money at closing.  Check this out. . .

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Are Home-Sellers Selling and Home-Buyers Buying in The Woodlands, TX.? April 16th, 2011

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on April 16, 2011

Don't Misstep. Know The Woodlands Real Estate Market.

Dancing with the real estate market.

There are two kinds of real estate reports.  I share both.

The first kind of reporting is What-Happened-Reporting.

This is where we report active listing inventory, how many contracts were written, how many sales closed and what  average price per square foot paid and months supply of inventory.
Here’s an example of the latest What Happened in The Woodlands TX report.

The Woodlands TX: Real Estate Market Reports for March and April 2011

By analyzing past buyer and seller behavior/activity we can draw conclusions about what future buyer and seller behavior/activity might be.  Pretty standard stuff.

The second kind of reporting is What-Is-Happening-Now-Reporting.

This kind of report is less standard and in my opinion the best indicator of what to expect in the present and immediate future.

What-Is-Happening-Now information includes things like:

Internet web activity and property views – People view and research web listings, photos and property information before they buy and while they are looking.  When web traffic is high, higher sales numbers are around the corner – it never fails.

For example, the picture below shows increased web traffic for Prudential Gary Greene, Realtors listing inventory on Trulia.com  This is good news for our sellers.

 

Web Traffic for buyers viewing online listing is rising.

Another leading indicator is Showing Appointments.  These days, Showing Appointments are recorded online.  That means we can track the number of Showing Appointments by price range and zip code.  Below is snap shot of zip codes 77380, 77381, 77382, 77384  in The Woodlands, in the price range $200,000 – $450,000.  If you take a look at the totals at the bottom of the picture, you’ll see the UP TREND.

Showing appointments are rising - higher sales are next.

Other less empirical, but equally accurate, are indicators like Open House Traffic, inbound phone calls and how busy the real estate agents are – all of these are UP.  Also, no doubt you’re seeing more Sold and Pending signs in all neighborhoods.

What’s it all mean?

The odds of well selling summer are very high.  All What Happened and What-Is-Happening-Now indicators are positive.  If you’re thinking of making a move, now may be the time.  What-Happened and What-Is-Happening-Now indicators are on the rise and I predict home prices, along with mortgage rates will rise.

Then theres’ this. . .

I’m not sure what the impact of the rumored Exxon/Mobil HQ announcement will be, what do you think? If it happens will it boost the market?  What do you think?

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Thanks for reading, if we can be helpful – Ken Brand 832-797-1779

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Viva 2011. Is it time to “Make Your Move”.

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on March 28, 2011

This is a snippet from my Monday Morning share at AgentGenius.com.  To read the whole thing you can click HERE. Thanks.

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It’s 2011.  Not 2010 or 2009.  Viva 2011

What’s your real estate market like this week?  Is it better than it was a year or two ago?

Back then we had the difficult task of sharing mostly bad news.  A rational Fear Of Loss kept buyers who wanted to move from making a move.  It was simple logic, buy too soon and home values might fall, resulting in a financial loss.

Last year the Federal Homebuyer Tax Credit artificially stimulated 1st Quarter home sales.  The free-money party ended in April of 2010 and real estate sales activity went from gangbusters to bust.  It pretty much stayed crappy until January 2011.

From what I can see across the inter-webs and personal experience, the unstimulated 1st Quarter of 2011 is equal to or better than the artificially stimulated 1st Quarter of 2010.  Which means that most likely, the balance of 2011 will be way better than 2010.  Not a month to soon, amen.

But I’m worried.  Real worried.

I’m Worried About Shell Shock

It’s been so crappy for so long, some us may be suffering from Shell Shock.  When someone asks if now would be a good time to buy, we start mumbling, our shoulders slump and the light in our eyes dim. We hem and haw.  Because we’ve been so beat up for so long, our answer limps from our mouth to their ears.  On occasion we allow past emotional scaring to over ride currentintellect and logic. This is normal human behavior, but we’re not paid to be normal.  We’re paid to perform.

People are counting on us for unbiased and expert real estate opinion and analysis.   When they ask the question, “Is now a safe time to make a move?” they expect a thoughtful and intellectual answer.  Not an emotional reaction steeped in Shell Shock.

It’s Time To Bury The Past and Rise UP

Maya Angelou – Still I Rise

The Fear Of Loss is perpetually valid.  Yesterday, the likely hood of suffering a financial loss by buying in falling market was high.  Today’s and tomorrow’s market is 180 degrees different.  If our buyer clients want to make a move and they don’t, waiting may cause them financial loss.

It’s a new day and a new market. Let’s think, advise and act like it.

Let’s start by reviewing and sharing a few important factors with our homebuyer clients.

Price & Value and Cost & Expense Factors

Advising our buyer clients to Not-Buy-Now because home values may go down, and they will have lost money by overpaying, is an example making a decision based on the Value & Price factor. Last year in many micro-markets this was smart, simple and logical.

Today, if we’re sincere about helping our clients avoid financial loss, we’ll want to include Cost & Expense factors in our advisory analysis.

To Read The Rest – CLICK HERE

 

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Are There Any Foreclosure Deals In The Woodlands TX?

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on December 24, 2010

No Sky Rocket = No Free Fall

In the great state of Texas in general and The Woodlands specifically, we’re fortunate.  When real estate markets across the nation were rock n’ roll’n with 20% or more appreciation per year, our local appreciate rates here were stuck in the puny low single digit range – we were bummed, no free money for us.

Fast forward to now.  Because our home values didn’t sky-rocket, they didn’t free-fall.  Take a look at this Average Price Per Square Foot graph.  Rock steady for the past two years. (You can check out other market report graphs HERE.)

One of the primary factors dragging home price into the dungeons is foreclosures. The more foreclosure activity, the lower the prices go. While we have foreclosures in The Woodlands, there aren’t enough of them to drag our home prices down, in fact they’re sorta uncommon.   Take a look at this property foreclosure Google Map for The Woodlands.  The bigger RED markers are foreclosed properties currently listed for sale.  The other dots represent properties that are some stage of foreclosure.  If you Click On The Map you will launch the live and interactive map, then you can dink around for yourself.  Each of the little red dots has a link to additional property information and properties.

Click on this picture to launch the interactive "Foreclosure properties in The Woodlands TX" Google map.

Click on this picture to launch the interactive "Foreclosure properties in The Woodlands TX" Google map.

Deal or No Deal

As you might imagine, all the news and broadcast hype about super-duper deals on foreclosures has homebuyers licking they chops in anticipation of getting a once in a lifetime steal. The reality is this; because property values in The Woodlands are stable, banks can sell their foreclosure properties at or very near current values.  This means they don’t have slash and burn their prices.  Which means that it’s rare to find a steal.   There are a few good values every-now and then though.  And keep in mind that the current amazing-low-low and soon-to-rise mortgage rates (4% range) make every buyer’s purchase-power stronger than ever – this means you can buy more than ever before.  I guess you could say that low-low-mortgage-rates are a steal themselves.

But here’s the thing.  Because there aren’t tons or dozens of foreclosure properties in The Woodlands, there isn’t a wide range of styles, designs, floor plans and other desirable amenities to choose from.  If you’re keen on buying a dream home, have your agent include foreclosure properties in your search if they match, but understand that finding your dream home (with the amenities you want) and a steal/deal foreclosure wrapped into one is rare.  If you’re dream home search begins and ends with finding that rare deal or even rarer steal and you can compromise on the list of matching amenities,  then have your real estate agent set you up on an auto-notification program.  When a new foreclosure property that meets your criteria tumbles onto the market and is listed in the Multiple Listing Service, you’ll know about it the day it happens and before everyone else.

Here’s another thing to consider, how do you know a deal or steal when you find one?  The way you nail down and scientifically determine if its is a real deal, a fair deal or a steal, is to have your real estate agent run an up to the minute market analysis for the neighborhood your interested in.  By looking at homes with similar amenities, average prices per square foot for recently sold, current active listings and some other data, you can determine if the property you’re interested is priced to sell.  You’d want to have your real estate agent do the same thing for any property your interested in buying; foreclosure or not.

What Next

It’s been a rocky two years for the economy and our real estate markets.  Oddly for this time of year, there is unusual activity and interest.  People are doing more than thinking about pulling the real estate trigger.   Formerly fence-sitting buyers are talking about buying and getting pre qualified and sellers are sprucing up their properties in preparation for selling.   I think this is due to two primary factors; people feel the economy is back on track, which means their confidence in the future is stronger, and most people feel that mortgage rates, along with gasoline (everywhere) and home prices (here), are going to rise soon.  The combination of rising consumer confidence and taking advantage of lower home prices and ridiculously-once-in-a-lifetime-low mortgage rates before they rise, is creating growing activity and inquiry from both buyers and sellers alike.

We’re excited about 2011.  If we can be helpful, give me a call at 832-797-1779

Cheers and Merry Christmas.

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What Is The Real Estate Market Like In The Woodlands TX – November 2010

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 November 9, 2010 Read the full article →

What The Real Estate Market Look Like In The Woodlands TX – November 2010

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 November 9, 2010 Read the full article →

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