Just a few weeks after the Hurricane Harvey, September sees Houston homes sales rebound and an outpouring of rentals .

Torn up by Hurricane Harvey during the final week of August, the Houston real estate market, shows its ‘Houston Strong’ resiliency during the 4 weeks that followed with a rebound in homes sales and the strongest rental activity of all time.

According to the latest monthly report produced by the Houston Association of Realtors (HAR), single-family home sales climbed 4.2% compared to last September, climbing back from a nearly 24% plunge in August. All areas of the housing market produced gains except for homes priced under $150,000, with the greatest sales volume among homes between $500,000 to $750,000 range. On a year-to-date basis, homes sales remain 2.3% ahead of the 2016 volume despite Harvey’s devastation.

Lease Update

Fueled primarily by consumers displaced from housing as a result of Harvey’s widespread destruction, demand for lease homes across Houston and cities on the outskirts, soared to record levels in September. Single-family rentals rose to a staggering 83.6% while townhouses/condos skyrocketed 92.2%. Average rent has gone up by 7.9% to $1,886 while the average rent for townhouses/condos climbed 5.4% to $1601.

Housing segment, September sales preformed as follows:

• $1 – $99,999; decreased 20.7%
• $100,000 – $149,999; decreased 23.2%
• $150,000 – $249,999; increased 6%
• $250,000 – $499,999; increased 14.8%
• $500,000 – $749,999; increased 20.4%
• $750,000 and above: increased 4.2%

HAR also breaks out the sales figures for existing single-family homes. Existing homes sales totaled 5,783 in September, up 3.8% versus the same months last year. The average price increased 8.1% to #282,528 while the median sales price rose 6.8% to $219,000.

September Highlights on Houston Real Estate Market

Single-family home sales grew with a post-Hurricane Harvey rebound, rising 4.2% year-over-year with 6,913 units sold; total property sales rose 3.2% with 8,150 units sold; total dollar jumped 10.2% to $2.3 billion. And leases of single-family homes shot up an unprecedented 83.6% with average rent up 7.9% to $1,886; and so on…

HAR continues to prompt anyone who has housing available for temporary occupancy (up to 12 weeks) to please post it on Harvey Housing page as soon as possible at http://www.har.com/temporaryhousing to provide housing to those in need.

#thevillarrealteam #remaxintegrity #houstonstrong

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If you are thinking of selling your home, it may be a stressful experience, especially for first-time sellers. One of the best ways to ease anxiety and reduce stress is to know what to expect and talk to a qualified real estate agent. Moreover here is a general overview of the selling process. While everyone’s experience may be different, these steps tend to be universal. Once you’ve decided to sell your home, give your professional real estate agents, Ruben and Nancy Villarreal with RE/MAX Integrity a call and we’ll help you every step of the way.

STEPS TO GETTING YOUR HOME READY TO SELL:

• Start packing.
• Get your home move-in ready.
• Have a home inspection.
• Boost curb appeal, ask your agent for suggestions.
• Cleaning your home is equally important.
• Agent help stage home.

MARKETING IT RIGHT.

Marketing helps find the right qualified buyer to purchase your home. It all begins with pricing, we can help you with that. Homes that are priced right are often picked by buyers in a short amount of time. To price your home we will review comparable homes in your area that are currently on the market or have sold in the last few months. We will also take in account your homes location, square footage, amenities and condition, as well as local market conditions. All of this information is included in the Comparative Market Analysis (CMA).

AVOID THESE COMMON MISTAKES SELLERS MAKE WHEN THEY LIST:

• Getting caught up in emotions.
• Overpricing the home.
• Expecting buyers to pay the asking price.
• Not allowing the agent to take listing photos.
• Hiding issues.

SHOWING YOUR HOME.

-Identify and remove potential hazards ahead of time.

-Open curtains and blinds to let light in.

-Keep your home in show-ready condition, as well as accepting showings.

HANDLING OFFERS.

When you get an offer, we’ll present it to you and negotiate on your behave. The offer may include the amount the buyer is proposing to pay, how much they plan to mortgage, their ideal closing date, any contingencies, in addition, personal property they want included or extended.

CLOSING.

#rubenandnancy #thevillarrealteam #homeselling101

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By: Ruben and Nancy Villarreal

When you buy a home, the mortgage payment isn’t the only regular expense you will have to consider.  You will also be responsible for paying for your homeowner’s insurance policy as well as the property taxes on your new home.  There are two ways to go about this.  One is to roll them both into your mortgage payment, and pay them monthly along with your mortgage.  The other is to pay them on your own. 

Larger Monthly Payments 

Adding your insurance and property taxes to that monthly mortgage payment bill means that you will have a higher monthly payment.  If you are already cutting it close on your monthly budget with the mortgage alone, this could make it tougher.  You should keep these two payments in mind when you make up your home buying budget so that you know what you can really afford after paying both of these monthly expenses. 

Lump Sum Payments 

Both property taxes and homeowner’s insurance can be paid on their own directly.  This is usually either a yearly payment of a large lump sum or a different sort of payment plan set up by the insurance company or the county.  Coming up with all of that money at once can be tough, so many people opt for payment plans instead. 

Simplifying Your Life 

Most people choose to roll the payments into the mortgage because it is much simpler.  You have fewer monthly payments to think about and don’t have to come up with any large lump sums.  Even if you pay them on your own, in most cases it still winds up being a monthly payment, so it generally makes sense to combine it with the mortgage payment and have a lot less to think about each month. 

The person handling your mortgage can help you decide what to do about insurance and property taxes.  Usually, the first year’s insurance will be part of the closing costs on your home, since you have to have insurance in place in order to get funding for a mortgage.  Whether or not property taxes are due will likely depend on when they were last paid on that home.  After the initial payment, you can add them to the mortgage payment and not have to think about it again.

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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

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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

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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 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.

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.

#TheVillarrealTeam #RubenAndNancy #HoustonRealEstateMarket

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Grand Parkway Marketplace I 

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

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

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THE REFUGE AT THE WATERWAY

The Refuge Bar & Bistro now open!

   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

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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

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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

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