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Estate News
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.
Equity skimming is a type of scam
In this type of scam, a "buyer" approaches you, offering to get you out of financial trouble by promising to pay off your mortgage or give you a sum of money when the property is sold. The "buyer" may suggest that you move out quickly and deed the property to him or her. The "buyer" then collects rent for a time, does not make any mortgage payments, and allows the lender to foreclose.
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An estimate of all closing fees including pre-paid and escrow items as well as lender charges; must be given to the borrower within three days after submission of a loan application.
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A legal decision; when requiring debt repayment, a judgment may include a property lien that secures the creditor's claim by providing a collateral source.
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This is a notice that may be given to a person who will be required to move a residence, business or personal property as a result of your agency's project.
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