Highlights
Buying a house, condo or other real estate the largest and most complex purchase most Americans will ever make -- remains a huge part of the economy. In 2007, a dismal time for the business, about 6.3 million housing transactions occurred in the United States, according to the Realtor's trade group. But the market has taken a serious body blow in recent years. The National Association of Realtors predicted the sales of existing homes in 2007 would be 10.8 percent below 2006. Sales of new homes were expected to be at the lowest level in a decade. The Internet has made it much easier for a layperson to locate properties that fit their needs and budget. As a result, while about 90 percent of tr...
Buying a house, condo or other real estate the largest and most complex purchase most Americans will ever make -- remains a huge part of the economy. In 2007, a dismal time for the business, about 6.3 million housing transactions occurred in the United States, according to the Realtor's trade group. But the market has taken a serious body blow in recent years. The National Association of Realtors predicted the sales of existing homes in 2007 would be 10.8 percent below 2006. Sales of new homes were expected to be at the lowest level in a decade. The Internet has made it much easier for a layperson to locate properties that fit their needs and budget. As a result, while about 90 percent of transactions involve a real estate agent, the rest were simply buyers and sellers hooking up independently. By-owner sales are popular among many people, in part because it saves on commissions. But even more buyers favor using a real estate agent who has the expertise and time to negotiate the complex processes. It may be obvious that no purchase in your life will ever be as crucial, but the good news is that it does not have to be as intimidating as you think. The single best piece of advice is not to let the big numbers and the jargon unnerve you. Simple, easy-to-understand step-by-step advice and instructions are available in literally hundreds of books in the library, on-line articles and websites (enter the words "real estate tips" and "selling" or "buying" in any search engine). Most give the exact same information although each may have a bit of a bias such as favoring by-owner or using a Realtor. Other significant advice: have patience; this can often be a long process and time usually is on your side. Trust your instincts; if a deal seems too good to be true, there's often a reason. Believe in options; just like buying a used car, there is always another house out there. Buying a home is essentially a lengthy parade of complex decisions, starting with whether this is the right time to be making a transaction. But the websites and books lay out the specific criteria you can use to make an informed judgment call rather than just making a blind guess. For buyers, the process includes finding out precisely how much you can spend on a house without destroying your standard of living; locating financing; identifying a large array of potential homes so you are not focused on one choice; visiting, inspecting and evaluating properties; negotiating a deal, and closing the deal.
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Katy ranks 65 out of 100 in foreclosures
KIAHIn this troubling economy, it's no surprise that home foreclosures are on the rise. RealtyTrac, a realty trend tracking firm, released a list of the worst zip codes in the country for home foreclosures. Katy placed 65th on that list. Experts say that...Tags: Services and Shopping, Real Estate
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Renting or Buying A Home: What Works Best For You?
KIAHFor newlyweds, a house is usually their first big purchase. But what's your best option - buying or renting? New research shows home owners are returning to the rental market. Diane Tate, a Houston realtor and broker that works for Prudential, has been...Tags: Houston, Event Planning, Condos and Houses, Rentals, Texas
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Westbury Square faces sale and demolition
KIAHOne more Houston landmark is most likely biting the dust, but this one is not getting the protestors out so far. Westbury Square, once a popular outdoor mall in southwest Houston, is 50 years old and what's left is not in prime condition. Now the property...Tags: Starbucks Corp., Real Estate Agents, The Home Depot, Property
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Pending Home Sales On the Rise
KIAHGood news in the housing market. According to the National Association of Realtors pending home sales have risen for three consecutive months. Realtors credits the expiring home buyer tax credit that requires homes to close by the end of the month. "It's...Tags: Lifestyle and Leisure, Credit and Debt, Clubs and Associations
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Plan to Close Pools Not Making a Splash
KIAHA plan to close several community pools is making a big splash in Sugar Land's First Colony community. The idea has residents feeling a wave of anger. Five swimming pools are set for demolition by the First Colony Community Association. Residents met...Tags: Lifestyle and Leisure, Labor Day, Clubs and Associations, Property
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How To Avoid Foreclosure: What You Need To Know
KIAHWith the economy still making a recovery, times are tough financially for many families in the Houston-metro area. For some, that could mean losing their homes. 39 News discovered ways to avoid foreclosure and lower your mortgage rates at the same time....Tags: Financial and Business Services, Mortgages, Foreclosures, Texas, Politics
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Loan Options
Since the real estate meltdown, banks are a lot more cautious when they give out home loans. Liberty Bank President Joseph Stephens says, "the 100% financing programs and the adjustable rate programs have pretty much gone away." Many home buyers are...Tags: Liberty Bank, Credit and Debt, Homes
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Home Buying
In Houston, there are more houses for sale than there are buyers. Folks who are selling homes are competing for your business. When that happens, they will lower the price. Many home buyers looking for a deal are turning to foreclosures. The cost of a...Tags: Liberty Bank, Credit and Debt, Foreclosures, Homes
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Foreclosure Bus to Tour Fort Bend Neighborhood
Foreclosures are so plentiful in Houston that you can take a bus tour to find the best deal possible. Kevin Riles of TourHoustonForeclosures.com says "We jump on the bus and as we move we look at each property and as we look at it and we tell them about...Tags: Money and Monetary Policy, Foreclosures
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Tax Time Tips
KIAHThe days are getting longer for tax pro, Marian Clarke. "Oh yeah, it's been busy," Clarke said. "There are a lot of people who are still needing to file their taxes." Clarke is counseling dozens of clients a day on all the tax credits and deductions....Tags: Corporate Crime, Credit and Debt, Corruption, Politics, State Budgets
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Homebuyers Rushing to Beat Tax Credit
KIAHLocal realtors and mortgage brokers say they're seeing an influx of potential homebuyers looking to take advantage of the $8000 first time homebuyer tax credit. "I think it's good for first time home buyer," said Andre Russell who is buying a home in...Tags: Credit and Debt, Homes, Politics, State Budgets
Jan 24, 2012
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Oct 28, 2008
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