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Houston Housing Sales Heat Up With Pre-Summer Temperatures
March Brings in Record-Breaking Home Sales and Out-Performs the U.S.
HOUSTON — (April 25, 2006) — March home sales in the greater Houston area reached near all-time record levels. Sales reported set a new record for the month and were the third highest level ever. Houston’s uniquely balanced market shows continued strength in homes sales and prices, while still providing an affordable market for home buyers.
As we enter the traditional peak home buying and selling season this summer, Houston stats are climbing along with our temperatures.
“You never want to claim good weather as the reason for anything—that is just tempting fate in Houston—but the early heat up in temperatures and the relatively few number of days with rain have definitely contributed to the early heat up in housing sales,” said Lorraine Abercrombie, HAR Chair and Marketing Director for Greenwood King Properties. “Almost all of the analysts and industry experts predicted that 2006 would be a very strong year but would not match last year’s amazing sales. So far, Houston is exceeding those expectations, and, if all the factors continue to line up, 2006 will be the best year ever for real estate in the region.”
Total property sales for the month totaled 8,015, which was a 22.4 percent increase over March 2005. Properties sold during the month reached a total of nearly $1.5 billion, a 32.4 percent increase compared to last year’s more than $1.1 billion in March sales. Additionally, the median home price for a single-family home reached $143,310, and the average home price rose to $193,640, both increases from last year of 5.4 and 8.5 percent, respectively.
Stopping foreclosure with Deed-in-lieu of foreclosure can be done
This won't save your house, but it is not as damaging to your credit rating as a foreclosure. You can qualify if: you are in default and don't qualify for any of the other options,your attempts at selling the house before foreclosure were unsuccessful, and you don't have another FHA mortgage in default.
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News about real estate cases in Albuquerque and nationwide:
Farm Real Estate Values Continue Upward
WASHINGTON, Aug. 2, 2002 - U.S. farm real estate values, including land in buildings, averaged $1,210 per acre as of January 1, 2002, up 5.2 percen... Read more >
Definition:
Insurance that protects homeowners against losses from a flood; if a home is located in a flood plain, the lender will require flood insurance before approving a loan.
Deed-in-lieu
Definition:
To avoid foreclosure ("in lieu" of foreclosure), a deed is given to the lender to fulfill the obligation to repay the debt; this process doesn't allow the borrower to remain in the house but helps avoid the costs, time, and effort associated with foreclosure.
Federally Assisted Projects
Definition:
A federally assisted project is one which receives Federal reimbursement or payment of some project expenses such as planning, construction, right-of-way acquisition, and property management.
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