Real Estate Market Trends In Houston: What Do They Say To The Sellers?

The trend reports for the real estate market have been out for a while. Each page shows a diverse range of facts, figures, and numbers -all calculated and depicted on graphs, charts, and what not. The information is there. Yet the following conversation will touch upon the concerns of most sellers out there in Houston.

The Difference between "Communicating" And "Using" Trends
After having read the trend reports...

SELLER #1:
"Oh Houston! How good it was to always see you amongst the top five in every real estate marketing category. The Urban Land Institute ranked you 2nd for being the real estate market to watch for; for being the best spot for investment real estate; for being the hot spot for home building prospects and high returns on investment; and for being ranked third on development projects because you've done a great job over the past years. I know I can definitely sell my house as is by confidently asserting my home for sale by owner."

SELLER #2:
"Congratulations, Houston! For breaking your pre-recession records of the house sales last year. I hear that your local housing inventory steeped to 2.6 months. It's great isn't it? Less than half the standard 6 month where the market is considered as balanced. Goes to show how easily I can sell my home fast."

HOUSTON: Thanks very much. How do you plan to use these ranks and figures to leverage better prices or to sell your home fast?

The Trend Excited Sellers

SELLER #1: The trend shows that your (Houston's) market will be a seller's market. I think it means that buyers will be hunting for every property they can get their investments onto. Hence, I'll be able to easily direct potential buyers towards my property and sell my home as is easily.

SELLER #2: I'll wait on the listings so that more buyers can approach me. A bidding war is possible because the buyers have a need to invest in the booming market. Hence, by waiting longer I'll be able to gain a more profitable pricing.

The Leverage Houston's Real Estate Market Is Giving to Sellers - and How They Mess Up

HOUSTON: Dear reader, great market trends have the capacity to excite potential sellers. This in turn causes them to become over-confident and lose focus. Though it is true that a seller's market is more favorable to you, it in no way means that your buyers cannot be picky. A buyer also wants to make a profitable investment and their best bet will to take your price down by being just that -picky.

The current market trends allow you to increase your profit through small changes. It's not necessary to re paint the whole house or re-furnish the kitchen to get a profitable price. But what you must do is to come out clean during house inspections. Have the house inspected before listing it. Repair major systems like plumbing, heating system and air conditioning, the roof, creaking floor boards etc.

In a seller's market, like the current one, you have an upper hand. The buyers are short on property and yours is a good future investment for them. Given that they cannot press you with "so many other opportunities available to them", they will use the small repairs that they might need to make after closing the deal to reduce prices. The price of making small repairs will easily be overshadowed by the returns on closing the deal!



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America's Real Estate Market Trends

Real Estate Market Trends

The median home price hit $506,000 in Los Angeles County in March 2006, climbing above the half million dollar mark for the first time in history. That figure is double what the median price for the area was just four years ago.

The good news for prospective homebuyers in other areas of the country is that a half million dollars can still buy quite a bit of home in much of the rest of the United States. For instance, even though Central Oregon is experiencing a considerable rise in both population and home prices, the median price is lower than LA County, although still higher than a significant number of other areas of the country. For instance, the median price for a home in Bend rose more than 30% in 2005, to $327,500. Another Central Oregon town, Madras, saw a 187% increase in the number of home sales in the first quarter of 2006.

The major force driving the boom in Oregon home prices, as well in Southwestern states and the Pacific Northwest, is an influx of Californians who are selling their more expensive homes and moving to areas where they can typically purchase more house for less money. Another factor is that with increasing values, many local homeowners are cashing in the equity of their homes and trading up to more expensive ones.

Another area that is growing significantly is San Antonio, Texas, where the median price of a home rose more than 9% over the past year to $131,900. San Antonio's real estate market mirrored that of LA County, however, with few sales, even though prices were higher overall. There is also a considerable amount of new home construction taking place in that area, as well.

Some areas of California are booming as a result of skyrocketing prices in Southern California. One of the busiest is the area that includes Riverside, Ontario, and San Bernardino, which has seen an unprecedented increase of new residents from 2000 to 2004, of which and estimated 46,000 were transplants from the Los Angeles metro area.

In the southeastern United States, Florida also continues to grow at a brisk pace, fueled in large part by an influx of former residents of the greater New York City area. In fact, an estimated 41,500 people moved from that area to Orlando, Miami, and Tampa in 2004. One reason the area is experiencing such rapid growth is employment opportunities. The area's employment scene was once dominated by Disney World, but that's no longer the case.



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To Know Real Estate Market Trends Is To Move Ahead In The Game

What is the average number of weeks that a buyer looking for a home puts into the search before finding a suitable new place to live? And, how many homes does he generally look at before a final decision is made about which property to buy?

Real estate industry statistics answer both of these questions with the following home buying information: folks who are in the market to purchase a home will typically conduct their search for around twelve weeks, walking through approximately fifteen houses in the effort to choose the right one.

Meanwhile according to residential real estate trends, 50% of the home buying population is comprised of first time buyers while the other 50% consists of those who have already gone through the process at least once.

What is the age that a majority of people become first time home buyers?

Real estate sales data shows that those who are in their early thirties are generally the clients venturing into the world of buying a home for the first time - an age range that provides plenty of opportunity for these young people to first get settled in a career with a steady salary that will increase with the progression of time, thus making it a much easier task to reach the mortgage payments each month.

Many also choose to marry and start a family as well at this decade in life, thus making it a necessity to purchase a home.

The latest real estate market trend points to the world wide web as the number one resource for seeking out a new home, with 74% of prospective buyers claiming to have sought out the educational content found on real estate information websites prior to beginning the search.

The internet serves the agents in the field in many helpful ways as well.

It is not uncommon for a realtor to own a website for the purpose of advertising his services to the general public in his designated area - which is one of the numerous functions that the internet provides to those in the business.

Social media comes into play here as well for the 84% of realtors using the internet for assistance in furthering their trade.

Sending out Twitter "tweets" about current homes on the market is one way a realtor uses social media to spread the word. Setting up a company page via Facebook, keeping a network of friends on a site such as LinkedIn, and posting industry-related blogs are some of the social media techniques a real estate agent uses when it comes to maintaining his business.

What are some of the real estate agent statistics that describe the people who are responsible for seeing the transaction through from beginning to end for their clients?

To start, the average real estate agent is a female individual working between forty and fifty hours on a weekly basis.

But regardless of gender, real estate agents as a whole share the following characteristics: 29% have attained a Bachelor's degree, 11% have an Associate's degree, and 32% have completed at least a few years of their collegiate educations though no degree was earned.

Although a great number of realtors are members of a real estate firm, 81% of these people still fall into that firm's "independent contractor" employment category.

Many who have made their careers in this field are good at their jobs, as is evidenced by the fact that 65% of past clients say they would re-hire the real estate agent they previously used.

Sometimes a person doesn't want to retain the services of a realtor and would rather try his own luck at attracting potential buyers to his home.

Choosing the "For Sale By Owner" route presents its own set of statistics to the real estate owner.

For example, the most common problem that the person selling his home sans a realtor will run into is not knowing how to arrive at an appropriate asking price. As a matter of fact, 23% of the for-sale-by-owner crowd experiences this obstacle, which leads to being unsuccessful in the overall selling process.

A lack of effort to fix and prepare the house to selling standards is another problem, one that is encountered by 18% of the group. And when a piece of property is not up to par for its showing dates, an owner can expect nothing less than a sub-par offer or in the worst case scenario, no offers at all.

There are not too many people without the benefit of a paralegal or attorney education who can make sense of the jargon that comprises real estate documents. Yet some do make the attempt, which can be more detrimental than helpful in the grand scheme of things.

As a result, 10% of for-sale-by-owner properties do not wind up making it through to the escrow phase right away because the paperwork was incorrectly filled in, specific forms were left out of the package, or signatures were not obtained where needed.

As trends in the real estate market continue to evolve, so too will more statistics be created to illustrate those particular buying and selling patterns.



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Real Estate Market Trends - How To Understand Them

The Market In Your Immediate Area

Most homeowners know what is going on in their general neighborhood. They know about the houses for sale, lease, or when the next door neighbor is remodeling the home. It is pretty rare that you don't know what is going on in your neighborhood but you might not know what is going on in the city as a whole.

These are real estate market trends and they vary from state to state and even neighborhood to neighborhood so trying to keep up with them is a full time job. Real estate investors make sure they know what is going on with the markets and how to best use the trends in their favor. As a current homeowner you can benefit from their knowledge when it comes to the sale of your home. If you are in the market for a home a real estates investor can be a great first step.

Your Home And The Current Trends

You may understand what real estate market trends are and why they are important for selling your home but you may not understand the huge impact that they can have on what to expect for your property. The current market is heavily tilted to supply right at the moment. There is still demand for the homes but it is not enough to keep up with the supply of homes on the market. This can create issues for you and your property. The increased competition can make it harder to sell even a house in great shape. Most people that own a home take care of it but when it comes time to sell it can still be very difficult with all of the other homes that are also in great shape on the market. Buyers have the ability to be picky and demand repairs and concessions which you may have to consider in order to have a successful sale.

In a different time, different market, the seller could refuse these negotiations because they knew their property was in excellent condition. The demand was present for their neighborhood and size of home. This is no longer the case. The market trends are creating a new balance in the current real estate market and if you are the homeowner, you may want to consider obliging these trends. In the past, if you had a stellar property, you could get away with little things but that is not the case anymore.

Being Able To Sell In Any Market

Even though the trends might be working against you it doesn't mean that they have to beat you. With the right strategy you will be able to have a fast home sale and your real estate agent should know the trends and be able to work with you on the best ways to advertise your property. If the trends have a certain look to them you may have to change your color scheme or offer some type of concession for that item. If the current market trend has to do with outdoor entertaining areas you might have to add a fire pit and some outdoor furniture to make the sale. These types of things are not that expensive and if it means selling your home it is probably something that is worth a serious consideration at least. By knowing your market you can help to create the right type of environment for having a successful sale.

While it may seem the trends are constantly changing, you can understand the common trends fairly easily with research. The research can help you determine which of the trends you should adhere to and how to create success for your sale. The science behind trends is merely what people want at any given time and when you are able to understand it, act on it.



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Chicago Real Estate Market Trends for 2012

Real Estate Market Trends

The real estate business in Chicago has always been known for rising and falling as seen in the past few years. Each year has a unique market trend that characterizes it. Several issues do come up in the business. Several factors also determine the market trend for each passing year.

In the current 2012, the Chicago real estate market trends have been on the declining side. According to current reports on Trulia, the entire market trend for 2012 has been declining all over Chicago. There's a decline in the Median Sales for Chicago homes as from January 12 to March 12, 2012. The price stands at $160,750. This shows a 13.1% decline compared to the decrease of 10% seen in 2011.

The Trulia report also says that sales prices in the market have also depreciated since the last 5 years up to this present 2012. Actually, there's a little bit of increase in the average listing price within April 2012. The report holds that the average listing price for homes earmarked for sales stood at $388,423 as at April 25, 2012. This shows a little increase of $2,854 or 0.7% compared to the previews week.

Again, there's also a decline in the price per square foot in Chicago. The average price per square foot stands at $124 as at April 2012. This, shows a decrease of 12.1% compare to what was obtainable on April 2011.

The 2012 market trend for Chicago real estate also shows a concentration of sales on specific neighborhoods. The most popular neighborhoods that are attracting real estate sales include Lincoln Park, North Side, Wicker Park, Loop, Bucktown, and De Paul. The housing market is quite hot in these areas. Investors are busy buying and selling in the mentioned areas.

Meanwhile, there are current trends and news on the Chicago Real estate market conditions. For instance, the US Treasury Department reports that 35% of home sales in Chicago are distressed compared to the 34% seen nationwide. The current May Issue of the "Chicago Tribune" also reports that the current Chicago home sales market is fragile. This is as a result of large number of lengthy foreclosures process times, vacant homes, and low mortgages.

In any case, the year 2012 is still on course. We're yet to hit the middle of the year. Although the current Chicago market trends seem to be on the decrease, experts still hope the conditions will change. The housing market tends to be unstable, while financial uncertainty. The pendulum can swing to any side depending on the prevailing economic situations. There's hope for more investors into the Chicago real estate market. Prices for homes and other properties are expected to appreciate. The future still holds a lot a for the real estate market in the Chicago city.



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Rule Real Estate Technology Or It Will Rule You

Do you ever feel a bit overwhelmed with all of the technology stuff that is out there
to help you grow your real estate business?

Websites, GPS, PDAs, laptops, desktops, bluetooth, automated 800 numbers,
contact management software... The list is endless.

Ever feel like technology actually keeps you from getting things done?

In my travels helping real estate professionals use technology to make more money,
I have found that there are basically two types of people: those who rule technology
and those who are ruled by technology.

The difference doesn't have so much to do with what a person knows about
gadgets, gizmos, websites and the like. That is a difference of knowledge, and
knowledge is something everyone has access to. The important distinction here is
intention - the deliberate decision that you must make about how technology fits
into your business.

Just like a business has no value without a customer, technology is worthless until it
is used for a specific purpose - to reach some goal.

Using technology for a specific, well thought out purpose will help get you to your
goal more quickly and with less effort.

Now I know (as I am sure you do) real estate pros who have built multimillion dollar
businesses without even turning on a computer, but I am not writing for them.

Using technology to boost your real estate business is smart business. So here are
some guidelines to help you make sure that YOU are the one that is stays in control.

====================

#1 Set your goals FIRST. Then use the tools you need to reach those goals and
forget the rest. Who cares what everyone else is doing?

====================

Take for example the cell phone. Everyone needs one right? No. Do you want to be
accessible to your clients at a moment's notice?

Maybe, maybe not. There are plenty of successful real estate professionals on both
sides of that argument.

Set your business goals FIRST, before you let your mind go onto finding the tools
(technology) you will need to reach those goals.

====================

#2 Don't jump in the deep end

====================

If you've never turned on a computer or have little interest in them for your
business, then don't run out and buy the latest one with every bell and whistle
under the sun.

The goal isn't to be tech savvy. The goal is to be productive and make more money
in less time.

Start slow and take small steps. And make sure that your productivity is increasing
with each technology "step" you take.

====================

#3 Learn... and keep learning

====================

Do you read books about real estate? About business? About marketing? Throw
one in every now and then about technology. Or better yet, dedicate some time
each month to get on the internet and read some articles that will teach you how to
use technology in your business.

Never stop learning. Learning is one of your greatest strategic assets.

====================

#4 Get a schedule and stick to it

====================

Do you check your email or voicemail 20 times a day? 10 times a day? Do you need
to? Does it make you more productive or just busier?

Make a schedule for how you relate to technology. For example, you could return
voice messages before lunch and check your email 2 times a day.

The details of the schedule don't matter. Make it however you want. The important
thing is that you have a schedule and stick to it. Your schedule will keep technology
from spilling over into the time you want to be productive.

====================

#5 Understand that most technology is far less than perfect

====================

I really mean this. The next time your computer freezes or your email goes haywire,
don't blame yourself. There is a 95% chance it wasn't anything you did.

For the most part, technology is mediocre. It has bugs, quirks and other problems
that appear at the worst times.

Just accept the good along with the bad and learn as you go.

Stop blaming yourself. You're a whole lot more intelligent than the pile of wire and
plastic that is your computer.

Jason Leister, the Real Estate Technology Guru (tm), is owner of Computer Super Guy, LLC, a Chicago-based technology firm that helps real estate professionals profit with technology.



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5 Minutes to Maximizing Real Estate Technology, A Desk Reference for Top-Selling Agents by John D.

John Mayfield's latest title in his "5 minutes to" real estate agent-broker series is technology. Offering both new and experienced practitioners a functional overview of how technology and real estate consumers have merged to create a new and required skill-set for those looking to grow in the marketplace.

 Mayfield, a proficient techie, pens articles's for the Hewlett Packard's Web site. An added bonus is a ROM that offers sample information from the text version, to illustrate in a technology format, how top producing agents have embraced their clients call for them to be pro-active in blog-sphere, podasts, e-mail, virtual tours and computers.

5 Minutes to Maximizing Real Estate Technology, A Desk Reference for Top-Selling Agents, By John D. Mayfield. Thomson/ South-Western, 2006, ISBN 139780324539271, 0324539274, Paperback, 184 Pages, $29.95 is written and designed to be results-driven.and as a textbook for brokerages to offer as a real estate technology course.


Each chapter offers learning objectives, review exercises and web resources. Photos help both the reader or an educator see the actual computer or web graphic to illustrate one of Mayfield's excellent points. But never does the text get bogged down in tech-speak, something many readers and students will appreciate.

Chapters in this book feature: Which computer is right for you?, Developing a Technology Budget for Your Real Estate Career, Software Applications, New Technology Tools for Today's Tech-Savvy Real Estate Agent, Printing Options, Cellular Phones and Smartphones, Digital Cameras and Other Multimedia Resources, New Marketing Trends in Real Estate, Web Site Tips for Real Estate Professionals, Creating a Paperless Filing System, Folders, Files, and Backing Up, Building the Perfect Database, E-Mail, Using Microsoft PowerPoint, Tips, Tricks and Shortcuts, Technical Help, How to Become a Mobile Real Estate Professional,and Broker Technology Issues. Also included are acknowledgements, a forward, an introduction, a summary and conclusion.

This book is an excellent resource for any agent or broker looking to ramp-up their business technology, without being over-whelmed by geek-speak. Perfect for new or experienced agents, real estate educators, trainers and a must-have for every real estate brokerage's professional development library.



Tag:-market analysis real estate, how to find real estate investors, real estate forecasts, market research real estate, real estate growth, real estate technology, real estate market trends,leading economic indicators