Katy City Limits

 

Has The Market Stabilized?

METROSTUDY: HOUSTON POINTING TOWARD ECONOMIC RECOVERY

HOUSTON (Metrostudy, Houston Business Journal) – Houston’s economy is showing signs of recovery, according to a recent Metrostudy report.

The annual 2009 Census Household survey showed that the Houston-Sugar Land-Baytown area added over 140,000 to its total population, a 2.5 percent increase over one year.

“The continued arrival of people in Texas fuels demand for housing markets,” said David Jarvis, director of Metrostudy’s Houston division. “This, coupled with a more optimistic employment outlook, signals continued stability in the Houston housing market.”

For the 12 months ending in June 2010, the Houston region lost 17,100 jobs. As recently as December, the 12-month loss exceeded 100,000 jobs. By year’s end, year-over-year comparisons are expected to show moderate gains.

Houston ranked tenth among major U.S. metros for high-salary jobs, according to employment website TheLadders.com.

“We’re seeing hiring in the energy (oil and gas) sector,” said TheLadders.com Editor-in-Chief Matthew Rothenberg. “Considering the makeup of the local economy, it is not a surprise that there are a large number of engineering and consulting positions opening in Houston as well."

The Houston housing market has continued to show stability through 2nd quarter 2010. Home starts for the quarter were at 5,942, a more than 12 percent increase over the first quarter. And home closings have outpaced new supply, indicating a higher housing demand and reducing total inventories of homes. At current absorption rates, the level of housing supply stands at 6.1 months.

But, all Real Estate is local.....Order a Market Report for your neighborhood.....

Good News

News Flash!!

Prudential Real Estate Ranks Highest for Seller Satisfaction in J.D. Power and Associates' 2010 Home Buyer/Seller Study

J.D. Power and Associates today announced that the Prudential Real Estate Network ranked "Highest Overall Satisfaction for Home Sellers Among National Full Service Real Estate Firms" in J.D. Power and Associates' 2010 Home Buyer/Seller Study. This marks the second time in three years that the Network ranked highest in seller satisfaction.

 

The annual study measures customer satisfaction of home sellers and buyers with major national real estate companies. Overall satisfaction is determined by examining four factors for the home-selling experience: agent (44%); marketing (30%); office (15%); and services (11%). Among home sellers, Prudential Real Estate achieved a score of 760 on a 1,000-point scale and received particularly high ratings from customers in the marketing and agent factors.

 

PRERS Chairman Jim Mallozzi said the award speaks for the quality and consistency of the Prudential Real Estate Network. "Affiliate to affiliate, our sales professionals are the local-market experts who market and price homes right, while providing attentive service," Mallozzi said.

 

PRERS has secured complete marketing rights for the study and for the Network's favorable ranking. The company will promote this distinction through national advertising and other media, including a J.D. Power and Associates' micro-site with exclusive marketing materials and comparative analysis showing its position in relation to competitors. Marketing guidelines, eCards and other marketing materials are on PREA Center in the J.D. Power and Associates ToolKit. You can access this from the Quick Link on the home page. 

 

J.D. Power and Associates maintains strict standards regarding the use of its name, the trophy and survey results, as detailed in the marketing guidelines. Contact Jill Aronson,
jill.aronson@prudential.com, with any questions.

 

Read J.D. Power and Associates' press release.

Leftovers

 What do you fix for dinner the night after you have prepared and served a gourmet (it's subjective) meal?  Left overs of course.  That's exactly what we had for dinner last night.

How does that relate to Real Estate you ask.....

Recently, we were working with an out of town buyer relocating to Katy.  We had been showing house over a period of several months. The buyer was specific about what they wanted and we were concentrating on homes that had recently come on the market. Why would we do this....unfortunately some buyers and many agents assume that if a house has been on the market for a long time, there is something wrong.  We found a house and as we looked at comparable homes to determine pricing, we found the perfect house. It had been on the market over 300 days....what was wrong?  We checked it out, there was nothing wrong.  It had just been shoved to the back of the refrigerator and forgotten.  There's nothing wrong with leftovers and sometimes they even end up better than the original..... Don't ignore a possibility just because it's been around awhile.

 

I Wasn't Born In Texas But I Got Here As Fast As I Could

  It's the thing we all know but, few (not currently in Texas) will admit.....we all want to be Texans.  Now we have the proof.

According to Movers.com, an online relocation service, people in the following eight states love to move: whether it's to another state or within the same:
1. California
2. Florida
3. Texas
4. New York
5. Georgia

6. Illinois
7. Virginia
8. Arizona

California had the most total moves, but the population remained flat because about the same number of people moved in as moved out. Texas saw the largest population increase - nearly 50 percent more people moved in than left. New York had the most significant decrease, losing 33 percent more people than it gained.

Source: Movers.com (05/24/2010)

New Listing In Heritage Park West - Katy City Limits

Small Town Living

New Listing In Firethorne - Katy TX

Move In Ready - Enjoy Tropical Living

The Smith Family Team in Firethorne

Check out this great home in Firethorne.

MLS#61676994 $324,000

The Truth About Flood Insurance

   Do you need it...or, do you not?  You need it!  As Realtors specializing in the Katy, West Houston area, we advise our clients to purchase flood insurance.

According to Michael Talbott, director of the Harris County Flood Control District, 'Everyone in Harris Couhty is at risk for flooding to varying degrees'.  He futher states that the reason more homeowners do not protectect themselves with flood insurance boils down to three common misconceptions: The belief that flood insurance is too expensive, that not all people are eligible and a false sense of security.

For an interesting Chron.com editorial on the subject click here. If you are interested in information on Flood Insurance email us at: Flood@SmithFamilyTeam.com.  

West Katy Real Estate Market Report - 01/2010

What's happened in the West Katy real estate market for the first month of 2010?

Here’s the market update from the Houston Association of Realtors year to date as of the end of January, 2010. This information is for Area 25 - Far West Houston which includes 'Katy City Limits'.

There were 153 sales YTD in 2010 vs. 140 in 2009, this represents an increase in sales of 9.29%.  The average sales price YTD is $134,450 which is an increase of 6.93% over 2009.

The median price home is up 4.98% - from $109,500 in 2009 to $114,950 in 2010. Sales price per square foot has gone from $57 in 2009 to $62 in 2010 – an increase of 8.77%. There have been 407 new listings YTD - vs. 335 for the same period in 2009.  That's an increase of 21.49% on the market this year.   As a result there are 7 fewer pending sales this year or 4.40% less.  The days on market for home sales has decreased from 102 in 2009 to 66 in 2010.  There is currently 4.7 months inventory on the market - which means that if no additional homes go on the market all the homes listed would be sold in 4.7 months.

Keep in mind that there are variations in the market within the area - to see what is happening in your neighborhood go to SmithFamilyTeam.com and order your personalized Market Report.

Data compiled by the Houston Association of Realtors Multiple Listing Service.