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BRISK APRIL HOME SALES KEEP THE HOUSTON REAL ESTATE MARKET IN POSITIVE TERRITORY

No Author — Tue, 15 May 2012 11:28:00 EST

Volume of single-family home sales is the highest since last summer as the market achieved its 11th straight month of growth

HOUSTON, TX � The Houston housing market experienced continued growth in April as home buyers helped support an 11th consecutive month of positive sales. The volume of single-family home sales was the greatest for a single month since last August, and average and median pricing achieved the highest levels for an April in Houston.

According to the latest monthly data prepared by the Houston Association of REALTORS® (HAR), April sales of single-family homes climbed 9.6 percent versus one year earlier. That marks the second biggest monthly increase of 2012.

'The Houston real estate market continues to benefit from a healthy economic climate led primarily by the addition of 96,000 new jobs locally in the past 12 months, according to the Texas Workforce Commission,' said Wayne A. Stroman, HAR chairman and CEO of Stroman Realty.

OBAMA ADMINISTRATION RELEASES APRIL HOUSING SCORECARD

No Author — Sat, 05 May 2012 13:58:00 EST

WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury Friday released the April edition of the Obama Administration�s Housing Scorecard � a comprehensive report on the nation�s housing market. Data in the April Housing Scorecard show some promising signs of stability, though the overall outlook remains mixed. Mortgage delinquencies have declined for four consecutive months and remain substantially below year ago levels, while sales of existing homes in the first quarter were 5.3 percent higher than one year ago. Data on home prices were soft in many mortgage markets, though adjusting for the traditionally slow winter months reveals the first uptick in prices since April 2011.

HUD Assistant Secretary Raphael Bostic said, �We�re making important progress in providing relief to homeowners under the Obama Administration�s programs. With fewer borrowers falling behind on their mortgages and almost half a million families taking advantage of our enhanced Home Affordable Refinance Program � standing to save on average $2,500 per year � it�s clear that the Administration�s efforts continue to provide significant positive benefits.�

HOUSTON TO GET HELP FOR HOUSING MARKET WITH WELLS FARGO 'NEIGHBORHOODLIFT' HOMEBUYER EVENT AND HOME PRESERVATION WORKSHOP

No Author — Wed, 02 May 2012 06:21:00 EST

May 11-12 event will provide help for hundreds of potential homebuyers in Houston and May 17 workshop will help mortgage customers facing financial hardships

HOUSTON, TX � Wells Fargo & Company (NYSE: WFC), one of America�s leading community banks and the nation�s largest home mortgage lender, today announced help coming for the Houston housing market with Wells Fargo�s fifth NeighborhoodLIFT^SM market, on May 11 and 12 at the George R. Brown Convention Center, as it collaborates with officials from the City of Houston and non-profit organizations on helping the city overcome the effects of the country�s housing crisis. In addition, Wells Fargo will host its 62nd Home Preservation Workshop, and second in Houston, at the Reliant Center on May 17 to assist customers facing financial hardships with solutions to avoid foreclosure.

The NeighborhoodLIFT^SM program has been designed to help communities attract qualified, prospective homebuyers to neighborhoods struggling with high inventories of unsold homes.

REALTOR NATIONWIDE OPEN HOUSE WEEKEND PROVIDES OPPORTUNITIES FOR BUYERS AND SELLERS

No Author — Sat, 28 Apr 2012 09:58:00 EST

Potential home buyers rely on open houses to help them find the home of their dreams. This weekend buyers can have a greater chance of doing just that during Realtor® Nationwide Open House Weekend, which is organized by state and local Realtor® associations across the country. This Saturday and Sunday, April 28-29, Realtors® from coast to coast will host thousands of open houses while engaging consumers on the benefits of homeownership and bringing buyers and sellers together.

�Realtor® Nationwide Open House is a fantastic opportunity for those interested in homeownership to connect with a Realtor® who can offer expert guidance and advice on the home buying process,� said National Association of Realtors® President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami. �During the weekend Realtors® will be on hand to answer questions about the local housing market and provide insights into the social and financial benefits of homeownership. Open houses are also a great way for potential buyers to get a feel for what is available in their local market.�

U.S. HOMEOWNERSHIP HITS DECADE LOW

No Author — Thu, 26 Apr 2012 06:26:00 EST

Still, 70% think now is a good time to buy a house

BRIDGELAND�S LAKELAND HEIGHTS WINS HBJ�S LANDMARK AWARD FOR RESIDENTIAL DEVELOPMENT

No Author — Wed, 25 Apr 2012 06:14:00 EST

CYPRESS, TX - Bridgeland�s traditional neighborhood development of Lakeland Heights has won a 2012 Landmark Award for Residential Development.

Awarded by the Houston Business Journal and announced at an April 19 gala, the Landmark Awards recognizes real estate projects that have made a significant impression on the Houston landscape.

Opened in 2010, Lakeland Heights blends visually diverse residences with plans for shopping and amenities to create a walkable, Main Street-style neighborhood. Extensive research of traditional Houston neighborhoods such as The Heights, West University Place, Southampton and Southside Place was conducted during development of design standards for Lakeland Heights, which is planned for 350 homes and features a mix of Craftsman, English Tudor, Classical and French architecture.

HOUSTON PROPERTY SALES RISE FOR A TENTH STRAIGHT MONTH

No Author — Tue, 17 Apr 2012 13:51:00 EST

Average and median prices reach the highest levels for a March in Houston while inventory maintains its lowest level in more than three years

HOUSTON � The Houston real estate market enjoyed a tenth consecutive month of rising sales in March, with homes continuing to sell quickly enough to keep housing inventory at its lowest level since December 2008. Average and median prices achieved the highest levels for a March in Houston, with the average price coming just a few dollars shy of the all-time high set in June 2008.

According to the latest monthly data prepared by the Houston Association of REALTORS® (HAR), March sales of single-family homes rose 7.8 percent versus one year earlier. That follows February's 15.6 percent jump which was the biggest sales boost since last September. Declining sales of homes priced below $80,000 combined with increased activity in the luxury housing segment fueled the pricing gains.

'March was an excellent month for home sales in Houston and the healthy appreciation in pricing is welcome news as well,' said Wayne A. Stroman, HAR chairman and CEO of Stroman Realty. 'Inventory remains at its lowest level in more than three years and is outpacing the national real estate market. The moderation in pending sales in March could possibly translate to a leveling off of sales before we enter the summer buying season, but we will know for sure next month.'

The March single-family home average price rose 5.7 percent year-over-year to $227,270, the highest level for a March in Houston and only $70 below the all-time high reached in June 2008. The median price�the figure at which half of the homes sold for more and half sold for less�climbed 7.8 percent to $161,750, also a record high for a March in Houston.

Foreclosure property sales reported in the Multiple Listing Service (MLS) fell 12.8 percent year-over-year in March. Foreclosures comprised 19.6 percent of all property sales, which is down from the 21.1 percent level observed over the past 12 months. The median price of foreclosures in February was flat at $81,500.

March sales of all property types in Houston totaled 5,908, an increase of 7.4 percent compared to March 2011. Total dollar volume for properties sold during the month soared 15.2 percent to $1.3 billion versus $1.1 billion a year earlier.

March Monthly Market Comparison

The month of March brought Houston's overall housing market positive results when all sales categories are compared to March 2011. Total property sales, total dollar volume and average and median pricing rose on a year-over-year basis.

Month-end pending sales for March totaled 4,162. That is down a fractional 0.7 percent from last year and may suggest a slight tapering of sales when the April housing data are compiled. The number of available properties, or active listings, at the end of March declined 17.8 percent from March 2011 to 41,997. For the second month in a row, the inventory of single-family homes held to the lowest level since December 2008-5.6 months. That compares to 7.5 months one year earlier and means that selling the entire inventory single-family homes currently on the market would take 5.6 months to complete based on the past year's sales activity. The figure is superior to the national inventory of single-family homes of 6.4 months recently reported by the National Association of REALTORS® (NAR). These indicators continue to demonstrate that Houston has a balanced real estate marketplace.

CATEGORIES	MARCH 2011	MARCH 2012	PERCENT CHANGE
Total property sales	5,499	5,908	7.4%
Total dollar volume	$1,122,788,737	$1,293,042,237	15.2%
Total active listings	51,091	41,997	-17.8%
Total pending sales	4,190	4,162	-0.7%
Single-family home sales	4,634	4,996	7.8%
Single-family average sales price	$214,980	$227,270	5.7%
Single-family median sales price	$150,000	$161,750	7.8%
Months inventory*	7.5	5.6	-25.9%

* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.
Single-Family Homes Update

March sales of single-family homes in Houston totaled 4,996, up 7.8 percent from March 2011. This marks the tenth consecutive monthly increase.

Broken out by housing segment, March sales performed as follows:

$1 - $79,999: declined 8.4 percent,

$80,000 - $149,999: increased 3.5 percent

$150,000 - $249,999: increased 19.7 percent

$250,000 - $499,999: increased 12.1 percent

$500,000 - $1million and above: increased 12.5 percent

At $227,270, the average price of single-family homes rose 5.7 percent from last March, resulting from a combination of increased sales activity among luxury homes and a decline in the sales of homes priced below $80,000. The average price achieved a March high but fell just shy of the historic level of $227,340 reached in June 2008. At $161,750, the median sales price for single-family homes climbed 7.8 percent year-over-year, also achieving a high-point for a March in Houston.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In March 2012, existing home sales totaled 4,088, a 6.3 percent increase from March 2011. The average sales price rose 6.5 percent from last year to $212,524 and the median sales price increased 7.4 percent to $145,000.

Townhouse/Condominium Update

The number of townhouses and condominiums that sold in March declined 3.6 percent compared to one year earlier. In the greater Houston area, 374 units were sold last month versus 388 properties in March 2011.

The average price jumped 15.2 percent to $166,228 compared to March 2012. The median price of a townhouse/condominium rose 17.4 percent to $135,000.

Lease Property Update

Demand for lease properties persisted throughout the Houston market in March. Single-family home rentals rose 10.3 percent compared to one year earlier and year-over-year townhouse/condominium rentals increased 3.8 percent.

Houston Real Estate Milestones in March

Volume of single-family home sales rose 7.8 percent, accounting for the tenth consecutive monthly increase;

At $227,270, the single-family home average price reached the highest level for a March in Houston and came just $70 short of the all-time high achieved in June 2008.

At $161,750, the single-family home median price also hit the highest level for a March in Houston;

Single-family home rentals rose 10.3 percent;

Townhouse/condominium rentals increased 3.8 percent;

5.6 months inventory of single-family homes remains at the lowest level since December 2008 and compares favorably to the national average of 6.4 months.

NEW PREMIER SENIOR LIVING COMMUNITY BREAKS GROUND LAKE HOUSTON AREA

No Author — Fri, 13 Apr 2012 09:38:00 EST

Emeritus at Kingwood Hosting Informational Luncheon for Public April 27

HOUSTON, TX � Emeritus at Kingwood, a premier new senior living community, will open its doors this Fall in the beautiful Lake Houston area of Texas. This newly constructed community has been specifically designed for seniors whose needs range from assisted living and memory care, to short-term rehabilitation and long-term skilled nursing. This means that Kingwood residents will have a constant community of friends and staff, even though their health-care needs may change.

Emeritus at Kingwood is now taking reservations and is hosting a free informational luncheon for the public on Friday, April 27, from Noon-1 p.m., at the Kingwood Country Club, located at 1700 Lake Kingwood Trail, Kingwood Clubhouse, Kingwood, TX 77339. Space is limited, so guests should RSVP for the luncheon by calling 281-312-4400 or emailing kingwood-ed@emeritus.com.

HOMEOWNERSHIP MAKES TAX TIME LESS TAXING

No Author — Wed, 11 Apr 2012 15:17:00 EST

How to Deduct Your Mortgage Interest & Equity Loan Costs

Deducting mortgage interest is a great tax benefit that can make home ownership more affordable. Your first mortgage isn�t the only loan that qualifies, either. In many cases, you can also deduct interest on home equity loans, second mortgages, and home equity lines of credit, or HELOCs.

If you want to deduct all of your mortgage interest, there are limits on both how much money you can borrow and on what you do with the money you get. You also need to itemize your return to reap the benefits of these deductions. Calculations can be complicated, so consult a tax adviser.

MERITAGE HOMES OPENS NEW MODEL IN BRIDGELAND

No Author — Tue, 03 Apr 2012 15:07:00 EST

CYPRESS, TX - Meritage Homes has opened a second model home in Bridgeland to showcase designs in the community�s Water Haven neighborhood.

Meritage chose its Longhorn design for its newest model, which opened earlier in March at 12427 Cove Springs. The home has five bedrooms, 3.5 baths, a game room and media room. The home also showcases several decorator options, such as cedar-beamed ceilings, wood flooring in the study and exotic granite in the kitchen.

�This product line offers maximum square footage for the price,� said Carey Bennett, sales representative with Meritage Homes. �The flexible floor plans give buyers a lot of latitude in creating spaces specific to their family�s needs, including multi-generational situations.�

REALTORS RAISE FAIR HOUSING AWARENESS IN LOCAL COMMUNITIES

No Author — Tue, 03 Apr 2012 06:34:00 EST

As the leading advocate for homeownership and housing issues, the National Association of Realtors® will join the nation in honoring Fair Housing Month this April.

This year marks the 44th anniversary of the 1968 landmark Fair Housing Act, which prohibits discrimination based on race, color, national origin, religion, sex, familial status or handicap. NAR also supports equal opportunity on the basis of sexual orientation, incorporating that support into the Realtor® Code of Ethics.

�Realtors® embrace our country�s racial and ethnic diversity and strive every day to make the benefits of homeownership accessible to everyone,� said NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami.

INVESTMENT AND VACATION HOME SALES SURGE IN 2011

No Author — Fri, 30 Mar 2012 13:27:00 EST

WASHINGTON � Sales of investment and vacation homes* jumped in 2011, with the combined market share rising to the highest level since 2005, according to the National Association of Realtors®.

NAR�s 2012 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2011, shows investment-home sales surged an extraordinary 64.5 percent to 1.23 million last year from 749,000 in 2010. Vacation-home sales rose 7.0 percent to 502,000 in 2011 from 469,000 in 2010. Owner-occupied purchases fell 15.5 percent to 2.78 million.

Vacation-home sales accounted for 11 percent of all transactions last year, up from 10 percent in 2010, while the portion of investment sales jumped to 27 percent in 2011 from 17 percent in 2010.

ASSOCIATION MANAGEMENT, INC. TO HOST FREE "COLLECTIONS AND FORECLOSURES" SEMINAR FOR COMMUNITY ASSOCIATIONS ON APRIL 18

No Author — Wed, 28 Mar 2012 09:52:00 EST

HOUSTON, TX - Community associations across the U.S. continue to struggle with major financial challenges stemming from the mortgage foreclosure crisis and economic downturn. To help associations effectively manage these important issues, Association Management, Inc. (AMI), a FirstService Residential Management company, will host �Collections and Foreclosures: How to Comply with the New Texas Legislative Requirement� on April 18, 2012 in Houston, TX.

The free educational seminar will be presented by Attorney Brady Ortego of RobertsMarkel, a law firm which specializes in assisting and representing property owners associations and developers.

NATIONAL FEBRUARY EXISTING-HOME SALES SLIP BUT UP STRONGLY FROM A YEAR AGO

No Author — Sun, 25 Mar 2012 07:38:00 EST

February existing-home sales declined from an upwardly revised January pace but are well above a year ago, while the median price posted a slight gain, according to the National Association of Realtors®. Sales were up in the Midwest and South, offset by declines in the Northeast and West.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, slipped 0.9 percent to a seasonally adjusted annual rate of 4.59 million in February from an upwardly revised 4.63 million in January, but are 8.8 percent higher than the 4.22 million-unit level in February 2011.

Lawrence Yun, NAR chief economist, said underlying factors are much better compared to one year ago.

MARIPOSA AT ELLA BOULEVARD CELEBRATES GRAND OPENING

No Author — Wed, 21 Mar 2012 14:53:00 EST

New affordable senior community�s steady leasing answers demand for affordable living 55+

HOUSTON, TX� Mariposa Apartment Homes at Ella Boulevard, Northwest Houston�s newest 180-unit affordable apartment home community for seniors 55+, is already more than 50% pre-leased at the time of grand opening. Just off 45 North at 16354 Ella Boulevard, Mariposa is celebrating with the Northwest, Greater Tomball and Lake Houston Area Chambers of Commerce in a ribbon cutting ceremony with keynote representation from Texas Department of Housing and Community Affairs, JP Morgan Chase, RBC Capital Markets and Harris County Housing Finance Corporation.

HOUSTON HOME SALES SHOW CONTINUED VITALITY IN FEBRUARY

No Author — Tue, 20 Mar 2012 11:52:00 EST

Home sales climb for a ninth straight month with inventory at its lowest level in more than three years

HOUSTON, TX � February marked the ninth consecutive month of positive home sales across the greater Houston area, and properties sold at a brisk enough pace to drive housing inventory to its lowest level since December 2008. The month also saw the trademarks of a healthy real estate market continue to prevail�a decline in active property listings and rise in pending sales.

February sales of single-family homes soared 16.9 percent versus one year earlier, according to the latest monthly data prepared by the Houston Association of REALTORS® (HAR). That is the biggest sales boost since August 2011.

WALLER TEAM SERVES CITY DWELLERS LOOKING FOR SMALL TOWN EXPERIENCE

No Author — Mon, 19 Mar 2012 14:31:00 EST

HOUSTON, TX - Rich Guderyon, manager of Prudential Gary Greene, Realtors Cypress office, has announced the expansion and restructuring of its Waller office. Guderyon said an experienced team of agents, known as Gary Greene Country Properties, is in place to serve city dwellers looking for a small town experience.

He is excited about the team and their mission. 'I came from a small town and miss the simple laid-back atmosphere that towns like Hempstead, Waller, Bellville, Prairie View and Chappell Hill offer. Many people are moving out of the city and suburbs, opting to raise their families, retire, or purchase a second home as a weekend getaway.'

In addition to Guderyon, the team includes Robbie Brinkley, Jim Carter, Ginger Hurley, Alyssa King, Todd Rhein, Ava Sempe, Mary Anne Szymanski and Brenda Willie.

SENIORS AND YOUNG ADULTS WILL INFLUENCE U.S. HOUSING MARKETS, NEW REPORT SAYS

No Author — Thu, 15 Mar 2012 17:24:00 EST

Aging baby boomers and their echo boomer children will significantly impact trends in the nation�s housing market over the next 20 years. In a new report released by the Bipartisan Policy Center, �Demographic Challenges and Opportunities for U.S. Housing Markets,� researchers at the National Association of Realtors®, The Urban Institute, and the University of Southern California analyze key demographic trends and their likely influence on housing and homeownership in the U.S.

Over the next two decades, the aging baby boomer generation will swell the nation�s senior population by 30 million. That demographic shift will likely help increase the supply of housing, since people over age 65 typically release much more housing than they absorb.

HOMEBUILDER CONFIDENCE INCREASES TO HIGHEST LEVEL SINCE 2007

No Author — Mon, 12 Mar 2012 08:00:00 EST

By Bill Lasar, Champions Real Estate Group

The recent housing market news shows that construction spending is up, and lending should shortly follow�a good sign for potential home buyers.

According to the U.S. Census Bureau of the Department of Commerce, residential construction spending rose 0.8 percent above the revised November estimate, to a seasonally adjusted annual rate of $241.2 billion�4.3 percent above the December 2010 estimate. In an ideal market, an increase in residential construction spending will lead to an increase in new-home sales. More builders believe that an increase in sales isn't far off; according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), builders of single-family homes have more confidence in their segment of the real estate market. The HMI climbed for the fourth consecutive month to a score of 25, the highest level seen since June 2007.

ASSOCIATION MANAGEMENT, INC. TO HOST FREE "COLLECTIONS AND FORECLOSURES" SEMINAR FOR COMMUNITY ASSOCIATIONS ON APRIL 12

No Author — Wed, 07 Mar 2012 07:40:00 EST

The free educational seminar will be presented by Attorneys Roy Hailey and Brad Kitchens of Butler | Hailey, which specializes in assisting and representing property owners associations and developers.

OBAMA ADMINISTRATION RELEASES FEBRUARY HOUSING SCORECARD

No Author — Sat, 03 Mar 2012 15:32:00 EST

Quarterly Servicer Assessments Show Mortgage Servicers Demonstrate Considerable Improvement in Implementation of the Making Home Affordable Program; Administration Will Continue to Hold Servicers Accountable for their Progress as Additional Efforts to Reach Struggling Homeowners Get Underway

WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury Friday day released the February edition of the Obama Administration's Housing Scorecard � a comprehensive report on the nation's housing market. Data continues to show signs that the housing market is strengthening, although the recovery remains fragile. The supply of new and existing homes on the market continued to decline last month. However, home prices dipped again as seasonal lows continued for the fourth month in a row.

GOVERNMENT FORECLOSURE TO RENTAL PILOT PROGRAMS NOT NEEDED IN MOST MARKETS, SAY REALTORS

No Author — Fri, 02 Mar 2012 17:57:00 EST

Housing markets are complex and varied, and a government pilot program to turn bank-owned properties into rentals could be disruptive and counterproductive in some markets, according to the National Association of Realtors®.

NAR urges the Federal Housing Finance Agency (FHFA) to proceed cautiously with its Real Estate-Owned (REO) Initiative pilot program to sell homes repossessed by government agencies to private investors to convert into rental units.

�As the nation�s leading advocate for homeownership and housing issues, Realtors® support efforts to reduce the high inventories of foreclosures, but all real estate is local and we are concerned that REO-to-rental programs are not necessary in some areas and could even hinder the recovery,� said NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami.

THE DINERSTEIN COMPANIES ANNOUNCES EXCLUSIVE RESTAURANT TENANT FOR HIGH STREET PROJECT

No Author — Wed, 29 Feb 2012 07:26:00 EST

Inner Loop Community Welcomes Seasons 52 � a first for Houston

HOUSTON, TX - The Dinerstein Companies is pleased to announce the first tenant for the High Street Project � Seasons 52. The highly-acclaimed fresh grill and upscale wine bar restaurant is expected to open their first Houston location in the spring of 2013.

Seasons 52 is recognized as a forward-thinking restaurant company with proven consumer appeal. The award-winning concept has successfully capitalized on meeting the demands of today�s culinary-savvy diners. Seasons 52 changes the menu four times a year with weekly fresh features to truly capture the flavors of the season. Each valued patron can be guaranteed the highest quality fresh food prepared without compromising great taste or a rich and complete dining experience.

NAR COLLABORATES WITH U.S. TREASURY ON SHORT SALE "HELP FOR HOMEOWNERS"

No Author — Sat, 25 Feb 2012 17:16:00 EST

WASHINGTON - A new National Association of Realtors® collaboration with the U.S. Department of the Treasury will help Realtors® better assist homeowners who are struggling to sell their homes in a short sale.

Realtors® who attend upcoming Making Home Affordable �Help for Homeowners� outreach events, sponsored by the Treasury Department, will learn insights to help them navigate the short sale process and have the opportunity to meet directly with loan servicers on their clients� behalf for assistance with difficult transactions.

�As the nation�s leading advocate for homeownership and housing issues, Realtors® are working hard to keep more people in their homes, and when a family is absolutely unable keep their home, Realtors® are there to help homeowners by facilitating a loan modification or short sale,� said NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami.