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HOUSTON REAL ESTATE UPDATE – MAY 2017

May reflects another HOT month for Houston Real Estate!  The Houston Association of Realtors (HAR) reports are in, and Houston real estate sales and rentals continue to outpace last year’s record performance.  The greatest sales gains took place among homes priced from $750,000 and above (categorized as the luxury market), followed by homes in the $150,000 to $249,900 range.

“No one sells more real estate than RE/MAX!”

HOUSTON REAL ESTATE HIGHLIGHTS FOR MAY

  • Single family home sales rose 11.5% year-over-year with 8,156 units sold;
  • Total property sales increased 12.3% with 9,744 units sold;
  • Total dollar volume jumped 17.4% to $2.8 billion;
  • The single family home average price climbed 4.3% to $302,362, which was the second highest level of all time (highest was $302,629 in June 2015);
  • The single family home median price rose 4.4% to a record high of $235,000;
  • Single family homes months of inventory grew to a 4.1 months supply, the highest level since November 2012;
  • Townhome/condo sales surged 16.5%, with the average price up 3.1% to $206,363 and the median price up 0.9% to $163,500;
  • Leases of single family homes soared 31.0% with average rent down 4.2% to $1,779;
  • Volume of townhome/condo leases rocketed 46.2% with average rent down 6.7% to $1,565.

With the Houston housing market showing another strong month for May, there is no doubt that the second half of 2016 and 2017 will reflect record numbers for Houston real estate!

If moving is in your near future, please contact us.  THE HOUSTON REAL ESTATE MARKET IT HOT!

#thevillarrealteam #remaxintegrity #houstonrealestate

The Villarreal Team
713-557-7095 direct
sold@rubenandnancy.com

 

REMAX Integrity Client Appreciation Party

Client Appreciation

Ruben and Nancy Villarreal, owners of RE/MAX Integrity, recently hosted their first client appreciation party. More than 120 people, all past clients and referrals, attended the event at Alicia’s Mexican Grille in Spring, TX.

“Our first annual client appreciation party was quite a success, and we will continue to host one annually,” said Ruben. Nancy added, “In order to get invited, all you have to do is buy or sell a house with our team. You can also refer us to someone who is buying or selling a house. So far we have 22 on our list for next year’s party!”

About the Villarreal Team

The Villarreal Team has been ranked in the Top 20 teams in the City of Houston by the Houston Business Journal  for twelve consecutive years.  Ranking for both for transactions closed and volume closed.  Additionally, Ruben and Nancy have been named Broker/Owners of the Year, are listed in Who’s Who in Real Estate, and are RE/MAX Lifetime Achievement and Hall of Fame recipients.

In addition to Ruben and Nancy, The Villarreal Team consists of Ray Humphrey, Beth Perque, Andree Ward, Robin Webster, Ashley Silvey and Dawnya Simmons. Together, the Villarreal Team has earned numerous awards and recognitions, including being named one of America’s most productive sales teams by REAL Trends – America’s Best Real Estate Agents in the State of Texas.

“If you are looking for a team with an outstanding marketing plan, one that provides excellent communication and immediate follow-up, leaving no question unanswered, then Ruben and Nancy are the team for you,” said client Jack P. “Our home was sold in less than one week.”
Ruben and Nancy Villarreal are the founders of one of Houston’s most award-winning RE/MAX teams. The Villarreal Team has excellent customer service, market knowledge and innovative marketing. In addition we show constant attention to details and genuine care for our clients. We specialize in North/Northwest Houston, The Woodlands, Spring, Klein as well as Montgomery County. For more information, feel free to call (713) 557-7095. You can also visit our office at 19510 Kuykendahl Rd. # B Spring, TX 77379 .

#TheVillarrealTeam #RubenAndNancy #ClientAppreciation

 

 

 

The Houston Real Estate Market

The Houston real estate market continues to win in March 2017. Single-family home sales and pricing rose as housing inventory grew. The strongest sales activity took place among homes in the $250,000 to $499,999 range, followed by the luxury market ($750,000 and above). This is its fifth consecutive month of sales gains. Inventory levels expanded from a 3.5-months supply to 3.8 months.

There was total of 7,013 single-family homes sold in March compared to the 6,278 sold a year prior according to the Houston Association of Realtors (HAR). That shows an increase of 11.7 percent, However, his gain compares to a March 2016 housing market that was facing uncertainty about the possible effects of falling oil prices.

You can click the link HERE to hear form HAR Chair Cindy Hamann with Heritage Texas Properties.

The single-family home median price climbed 5.8 percent to $227,530. This is the highest median price ever for a March. The average price rose 4.6 percent to $284,279, which is also a representation of a March high.

March sales of all property types in Houston totaled 8,495, up 10.5 percent from the last year. Total dollar volume for properties sold in March rocketed 15.6 percent to $2.3 billion.

March Monthly Market Comparison

The Houston real estate market enjoyed across-the-board gains in all statistical indicators during the month of March, with single-family home sales, total property sales, total dollar volume and pricing all up compared to March of 2016.

Month-end pending sales for single-family homes totaled 8,311, an increase of 16.7 percent compared to last year. Total active listings, or the total number of available properties, jumped 9.9 percent from March 2016 to 37,926.

Single-family homes inventory grew from a 3.5-months supply to 3.8 months. For perspective, housing inventory across the U.S. also currently stands at a 3.8-months supply, according to the latest report from the National Association of Realtors (NAR).

* 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

Single Family

Single-family home sales totaled 7,013, up 11.7 percent from 6,278 in March 2016, when the market was on edge about weakness in the energy industry. The median price rose 5.8 percent to a March high of $227,530. The average price climbed 4.6 percent to $284,279, also a record high for a March. Days on Market (DOM), or the number of days it took the average home to sell, rose slightly to 60 days versus 58 last year.

  • Broken out by housing segment, March sales performed as follows:
  • $1 – $99,999: decreased 14.8 percent
  • $100,000 – $149,999: decreased 8.1 percent
  • $150,000 – $249,999: increased 11.8 percent
  • $250,000 – $499,999: increased 23.1 percent
  • $500,000 – $749,999: increased 11.0 percent
  • $750,000 and above: increased 19.0 percent

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 5,839 in March, up 13.3 percent versus the same month last year. The average sales price increased 7.6 percent to $270,122 while the median sales price jumped 8.2 percent to $211,000.Single Family Average Home Price

Townhouse/Condominium Update

Townhome and condominium sales were up again in March, with 652 units selling versus 607 a year earlier. That represents an increase of 7.4 percent. The average price rose 3.4 percent to $200,556, while the median price was flat at $154,250. Inventory grew from a 3.5-months supply to 4.0 months.

Lease Property Update

The lease market exploded in March, with strong consumer demand among both single-family and townhome/condominium properties. Single-family home leases surged 36.6 percent while townhome/condominium leases leapt 37.8 percent. The average rent for single-family homes declined 4.9 percent to $1,647, while the average rent for townhomes/condominiums dropped 5.6 percent to $1,487.

Townhouse/Condominium Sales

 

#TheVillarrealTeam #RubenAndNancy #HoustonRealEstateMarket

 

Grand Parkway Marketplace Opens in Spring

Grand Parkway Marketplace I Image result for grand parkway marketplace 1 stores

Grand Parkway Marketplace is opening in Spring, TX. A 126,000-square-foot Target is the first retailer to open in the much-anticipated  development. The project’s $87-million, 488,000-square-foot phase one is scheduled for completion in the third quarter of this year.

In addition to Target, multiple anchor tenants are scheduled to open at the center in the next few months. Some of these include TJ Maxx, Michaels, DSW, Ulta, Party City, and others.

Grand Parkway Marketplace is located along the newly opened Grand Parkway. This massive highway project surrounds the Greater Houston region. This prime location offers retailers street frontage along Grand Parkway, Spring Stuebner Road and Kuykendahl Road. There is also a direct route to The Woodlands, just a few miles north of the shopping center.

Recent additions to the area include new facilities for Noble Energy, Southwestern Energy, CHI St. Luke’s Health, and the ExxonMobil world headquarters. These facilities together house approximately 10,000 employees. Also, HP recently announced plans for a new campus. As a result, it would bring approximately 2,400 employees to the area. Phase one of Grand Parkway Marketplace will contain national, regional, and local tenants. There will be eight junior anchors, 11 outparcels and ample parking. It will also contain a restaurant village with a man-made lake, a series of fountains, and a boardwalk amenity for the restaurants.

Grand Parkway Marketplace II

Image result for grand parkway marketplace phase 2 stores

 

Also underway is Grand Parkway Marketplace II. The second phase, located across the street, has three anchor boxes, two of which have been leased by Hobby Lobby and Academy Sports + Outdoors, with the third under lease negotiation. In addition, the planned $52-million phase two development will include a number of multi-tenant retail buildings, and several outparcels for restaurants, banks, or other retail uses. As a result, the two phases will encompass over 110 acres. This will create a retail hub of approximately 750,000 square feet.

#RubenAndNancy #TheVillarrealTeam #GrandParkwayMarketplace

THE REFUGE OPENS IN CREEKSIDE

THE REFUGE AT THE WATERWAY

The Refuge Bar & Bistro now open!

24 WATERWAY AVENUE #110, THE WOODLANDS, TEXAS 77380 713-389-5674

   The Refuge Bar & Bistro is a go-to destination for residents and visitors in The Woodlands, TX area. Delectable menu options, creative décor and ingenious twists on classic drinks. This bar and bistro become one of the top social spots in town. Due to the romantic setting and the old fashioned décor, it almost immediately takes you back in time! It is the perfect mix of a modern upscale dining and classic saloon experience.

The Refuge Bar and Bistro host all kinds of events, from wedding receptions to rehearsal dinners, engagement parties, birthdays, anniversaries –They do it all. A beautiful venue for brides-to-be or the perfect date night with the one you love. With menu items such as the signature Lump Crab Cakes and Baked Mac & Cheese Pot Pie, you are sure to come back for more.

THE NEWEST STEAKHOUSE AND BOURBON BAR IN TOWN

8540 CREEKSIDE FOREST DR., SUITE C800, THE WOODLANDS, TEXAS 77375  (832) 559-8541

The Refuge Steakhouse and Bourbon Bar is the newest addition to the Refuge establishments. The Refuge Steakhouse and Bourbon Bar offers its guests a casually-elegant dining experience. In the heart of The Woodlands, TX. It is conveniently located at the intersection of Kuykendahl and Creekside Forest Drive. The refuge offers a selection of premium wood-fired steaks, seafood and pastas. It also has the largest bourbon selection in North Houston. With the friendly service you just can’t find anywhere else in town. This spot is the go-to destination for intimate dinners, great brunches and special occasions!

For more information regarding Real Estate in and around The Woodlands, feel free to contact The Villarreal Team at REMAX Integrity, 713557-7095 direct or 281-370-5100 office ; 19510 Kuykendahl Rd. #B Spring, Tx 77379 or 10766 FM 1097 Rd. Willis, Tx 77318 – 2 locations to better serve you!

#TheVillarrealTeam #RubenandNancy #WoodlandsSteakHouse

Get Organized For Taxes

www.turbotax.com

It’s time to get organized for taxes!  They say the two of the most stressful things in life are taxes and real estate!  As one of the Top real estate teams in Houston, it is our goal to provide our customers with a network of business advocates, a concierge service to our clients and their referrals.  We continuously post information that we believe you will find useful.

There are a number of ways that we can be a valuable resource to you, such a providing updates and referring other reputable professionals when you need them.  We make a constant effort to provide you with excellent service, because in our business, the most profound assets we possess is your respect and trust.

Hopefully this post will provide helpful information for getting organized for your taxes…

Whether you’ll prepare taxes on your own or have a tax preparer do it for you, it helps to start gathering your documents now.  The following list includes some of the most common documents you’ll need to complete your taxes.  What you need will vary depending on your situation and whether or not you plan to itemize.     Remember, laws may have changed since last year, so be sure to consult your tax professional to discuss any questions you may have.

 

REMEMBER when you are looking to buy or sell, contact us at 713-557-7095 or email sold@rubenandnancy.com, we would love to assist you with all your real estate needs.

Oh, by the way… if you know of someone who would appreciate the level of service we provide, please call us with their name and number.  We will be happy to follow up and take great care of them.

Be sure to follow us on Facebook https://www.facebook.com/VillarrealTeam/ and Twitter https://twitter.com/villarrealteam

Is It A Good Time to Buy or Sell? Housing Market Predictions for 2017

What’s in store for the Housing Market in 2017?

We’re a few months into the year and many potential buyers and sellers are wondering, is this a good year to get into the market?  Many current homeowners are thinking about the value of their homes, even if they are not thinking of listing anytime soon.

The below information provides an overview of what’s in store for the American real estate market this year based on expert predictions and current price and sales data.  These forecasts provide inside into current trends and paint a picture of what may happen this year.  However, while our market may appear similar to the national market, local and regional factors may play a role in specific forecasts for our market.

If you would like to know more about our local market, want to know how much your home is worth, or are thinking of buying or selling, give us a call.  We’d love to discuss the market with you and assist you with all your real estate needs.  Feel free to contact us directly at 713-557-7095 or email sold@rubenandnancy.com

Looking forward to hearing from you soon. #TheVillarrealTeam #remaxintegrity

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What does the future hold for the housing market in 2017?

Experts have weighed in and one thing is for sure; The housing market is set to heat up this year!

Home sales are expected to increase.

Existing homes sales are expected to reach 6 million, up from 5.8 million in 2016.

Projections for total single family home sales for 2017

  • National Association of Realtors – 6 million
  • Fannie Mae – 6.2 million
  • Freddie Mac – 6.2 million
  • Mortgage Bankers Association – 6.5 million

Housing Appreciation is up.

Most markets report an increase in home appreciations, with the increases hitting near 10% in the hottest markets, which have growing populations and tight supply.

Top 3 markets for Home Appreciation are:

  1. Seattle, WA
  2. Portland, OR
  3. Denver, CO

Make way for First-Time buyers.

Millennials are expected to strengthen home and condo sales into 2020.  Sales by first-time buyers reached a four-year high in September at 34%.

Rental affordability is one of the biggest factors for first-time home buyers deciding to buy.  Rent prices will keep getting higher.

Sources:
The Mortgage Reports
Dun & Bradstreet
NAR
Keeping Current Matters
REALTOR Magazine
BusinessWire

 

January 2017 RE/MAX National Housing Report

U.S. Home Sales Finish Strong in 2016
January 17, 2017

Capped off by a strong December, 2016. According to January 2017 RE/MAX National Housing Report, it was the best year for U.S. home sales since the recession. Home sales in 2016 were the highest in the housing report’s eight-year history. Thus, topping the sales of 2015, which was previously the strongest year. Nine months of 2016 posted sales that were greater than those of 2015.

According to the 53-market report, the trend of rising prices and shrinking inventory continued in December, though it was one of the three months that trailed 2015, with sales 1.8% below December 2015. Even so, nearly half of the markets reported increased sales over December 2015, and almost two-thirds saw sales higher than November 2016. The median increase over November 2016 was 1.7%.

The median sales price of $216,000 was 4.9% above one year ago and only 1.8% below November’s.

Inventory declined 17.9% year-over-year in December, continuing a year-long streak of double-digit declines. Months Supply of Inventory was 4.2, with 47 markets below the 6 months normally considered a balanced market.

62 days on the market was the lowest average in history.

“Much like 2015, we saw a mostly healthy housing market in 2016 that posted steady growth in sales and prices,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “We’re back to pre-recession levels in many markets, with 2017 forecast to be another solid year. We’ll have to wait and see what impact rising interest rates will have.”

Closed Transactions
Of 53 metro areas surveyed in December, the overall average number of home sales fell 1.8% compared to December 2015. But nearly half of the 53 metro areas experienced an increase in sales year-over-year, with three experiencing double-digit increases.  The markets with the largest increase in sales included Wilmington/Dover, DE +21.4%, Honolulu, HI +19.7%, Augusta, ME +16.1%, Las Vegas, NV +7.9% and Providence, RI +7.3%.

Median Sales Price – Median of 53 metro median prices
In December, the median of all 53 metro Median Sales Prices was $216,000, down 1.8% from November but up 4.9% from December 2015. Of the 53 metro areas surveyed, all but two saw year-over-year increases or remained unchanged with nine rising by double-digit percentages. The largest double-digit increases were seen in Birmingham +17.1%, Tampa +16.8%, Charlotte +13.2%, Seattle 12.9%, and Orlando +12.3%.

Days on Market – Average of 53 metro areas
The average number of days a house was on the market before it sold last December, was 62. This number is up three days from the average in November 2016, but down five days from the December 2015 average. The two areas with the lowest Days on Market were Omaha, NE and Denver, CO at 36. The highest Days on Market averages continued to be in Augusta, ME at 141. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed.

Months Supply of Inventory – Average of 53 metro areas
The number of homes for sale in December was down 14.0% from November, and down 17.9% from December 2015. Based on the rate of home sales in December, the Months Supply of Inventory was 4.2, compared to November at 4.0 and December 2015 at 4.9. A 6.0-month supply indicates a market balanced equally between buyers and sellers. In December, 47 of the 53 metro areas surveyed reported a months supply of less than 6.0, which is typically considered a seller’s market. One reported a balanced market at 6.0, while the remaining five saw a months supply above 6.0, which is typically considered a buyer’s market. The markets with the lowest Months Supply of Inventory continued to be in the West, in California, Washington, and Colorado.

Contact
For more information or to find out what your home is worth, please feel free to contact the Villarreal Team at 713-557-7095.

RE/MAX CELEBRATES THEIR 44TH ANNIVERSARY!

RE/MAX celebrates their 44th anniversary! Due to the incredible network and brand, RE/MAX has become the gold standard in our industry.

RImage result for REMAX NUMBER ONEecognition over the past year includes:

• Two prestigious industry surveys named RE/MAX the No. 1 real estate franchise.

•  Agent productivity was sky high, with our U.S. agents doubling the competition in the industry’s two premier big broker rankings.

• 110,000-agents and still growing.

• The redesigned, enhanced remax.com continued to be the most-visited real estate franchise website.

• The new national ad campaign (“The Sign of a RE/MAX Agent”) was a major success.

• The luxury and commercial brands expanded significantly.

• Global presence in over 100 countries and territories.

We have a lot of competitors, some large, some small, but based on residential transaction sides, nobody in the world sells more real estate than RE/MAX. Nobody. Period.

THE VILLARREAL TEAM is very proud to be a part of this outstanding organization.  We would like to thank our clients for allowing The Villarreal Team to represent them with their real estate transactions.  We look forward to assisting you and your referrals in the near future!  To contact The Villarreal Team directly, call 713-557-7095 or email sold@rubenandnancy.com

THANK YOU AGAIN FOR YOUR BUSINESS AND REFERRALS!

Image result for Villarreal Team spring tx

The Villarreal Team

Ruben & Nancy Villarreal, Ray Humphrey, Beth Perque,
Andree Ward, Robin Webster, Blanca Maeso and Ashley Silvey.

The Villarreal Team Helping Soles4Souls

Ruben and Nancy Villarreal, founders of the Villarreal Team and RE/MAX Integrity, are proud to announce their office is now an official drop-off location for Soles4Souls where they will be collecting donations of shoes. “I highly encourage each individual in the community to drop by our office, located at 19510 Kuykendahl, #B, in Spring, TX, and drop off a new or gently worn pair of shoes to help Soles4Souls fight poverty,” said Ruben.

Soles4Souls aims is to eradicate extreme poverty by 2050. Children every day are prevented from attending school and adults are unable to work as walking becomes unbearable, which perpetuates the cycle of poverty. To date, Soles4Souls has collected and distributed more than 26 million pairs of shoes to those in need in 127 countries around the world and all 50 states in the U.S.

“Every pair of donated shoes counts, can provide relief today so thousands can succeed tomorrow and helps Soles4Souls fulfill its mission,” concluded Nancy. “Every person on Earth needs at least one good pair of shoes.”

For more information about getting involved with Soles4Souls or to become an official drop-off location, visit https://soles4souls.org/get-involved/.

About Ruben and Nancy Villarreal, the Villarreal Team
Ruben and Nancy Villarreal are the founders of one of Houston’s most award-winning RE/MAX teams. The Villarreal Team is synonymous with customer service, market knowledge, innovative marketing, constant attention to details and genuine care for its clients. They specialize in North/Northwest Houston, The Woodlands, Spring, Klein as well as Montgomery County. For more information, please call (713) 557-7095, or visit http://www.rubenandnancy.com.

    “Every pair of donated shoes counts, can provide relief today so thousands can succeed tomorrow and helps Soles4Souls fulfill its mission,” stated Nancy Villarreal.

About Soles4Souls

Soles4Souls is a not-for-profit global social enterprise committed to fighting poverty through the collection and distribution of shoes and clothing. The organization advances its anti-poverty mission by collecting new and used shoes and clothes from individuals, schools, faith-based institutions, civic organizations and corporate partners, then distributing those shoes and clothes both via direct donations to people in need and by provisioning qualified micro-enterprise programs designed to create jobs in poor and disadvantaged communities. Based in Nashville, TN, Soles4Souls is committed to the highest standards of operating and governance and holds a four-star rating with Charity Navigator.