HoustonSERVICE.org

HOUSTON (KTRK) -- Houston Mayor Annise Parker announced today the launch of a local volunteer program and an accompanying website.

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MORE: HoustonSERVICE.org website

Houston SERVICE was developed to address three areas of need in Houston: youth development, veterans' affairs, and CPR readiness. The organization is also launching www.HoustonSERVICE.org to provide details on the service plan, its initiatives, and other ways for Houstonians to become involved in volunteer activities.

"This grant enables the city of Houston to help both Houstonians with big hearts and organizations in great need of volunteers, especially those that focus on at-risk youth, veteran outreach and heart health," said Mayor Annise Parker. "I thank both Bloomberg Philanthropies and the Rockefeller Foundation for funding the city of Houston as a Cities of Service Leadership Grant recipient, and look forward to seeing the impact of Houston SERVICE."

After assessing Houston's existing service efforts in top-priority categories and collaborating closely with community partners, three volunteer impact initiatives were developed:

• After-School Zones: This initiative seeks to increase both the number of mentors engaged with the city's at-risk youth and the number of young people who are able to participate in academically rich after-school programming
• Houston Veterans Continuing Service: The veterans' initiative will offer peer-to-peer mentoring support to help 250-500 newly returning combat veterans reintegrate successfully into civilian life over two years
• Everyone Can be a Lifesaver: Recognizing heart disease and stroke as the nation's leading causes of death, this initiative will train citizens how to perform effective bystander CPR using compressions only. These volunteer trainers pledge to teach compression-only CPR to five others, which will impact the entire Houston population by having more residents ready to respond to instances of cardiac arrest.

Houston SERVICE is the product of a six-month assessment and consultation process that brought many diverse groups to the table, including non-profit organizations, schools, colleges, private sector partners, public agencies, faith-based groups and citizens.

(Copyright ©2011 KTRK-TV/DT. All Rights Reserved.)

RE/MAX is a company built on the promise of exceptional customer service. Whether you are selling your home or searching for that special place to call your own, you deserve to work with someone who has your best interests in mind. I realize that something as valuable as your trust must be earned.

I strive daily to live on the basis of Honesty, Integrity, and Trust.

Whatever your particular real estate need, I'll work hard to make sure that you are completely satisfied. I have the knowledge, experience, and dedication that it takes to get results.

I am NEVER too busy for your referrals...

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Commericial Real Estate In Houston

Commercial Real Estate in Houston

Houston commercial real estate activity is measured by including outright purchase of a property; owner to buyer, property leasing and property subleasing. Sublease space figures are generally not included in statistics that evaluate commercial space vacancy rates, but nevertheless can substantially impact the commercial real estate marketplace.

Houston’s commercial real estate includes office space, warehouse, manufacturing, distribution, research and development space. Although some five million square feet of additional industrial space has been added to Houston’s commercial real estate sector this past year (2009,) and an additional one million square feet is under construction or scheduled for construction so far this year, vacancy rates continue to rise, and many new projects are on hold.

This year could be a perfect time for companies now in a position to purchase or lease commercial space to take advantage of the many concessions sellers and landlords are willing to offer, particularly before demand eventually begins to equal supply. Tenants looking to sublease space are another source of supply that expanding companies can look to for discount rental agreements.

With nearly 1,000 office buildings in Houston offering concessions for leasing or subleasing office space, many young companies with limited budgets now have the opportunity to establish an office presence in prime locations they might ordinarily have been priced out of. Now is a particularly opportune time to negotiate a lease, since projections appear to be favorable for a strong revitalization of the Houston commercial marketplace towards year end. And don’t overlook the fact that in many cases landlords are competing with their own tenants who could be subleasing their space at substantially lower rates

Compliments of VIP Realty

Houston Luxury Home Sales Surge, Overall Market Dips

According to Houston Biz Journal,

Luxury home sales in the Houston area surged last month in comparison with February 2010.

The sale of luxury homes also elevated the average and median single-family home price to the highest level ever for a February, according to findings released Tuesday by the Houston Association of Realtors based on monthly multiple listing service data.

A total of 208 homes priced at $500,000 and above traded last month in the Houston area, up 28.4 percent from 162 homes sold in February 2010 in the same price range.

The single-family median sales price rose to $151,900, 3.9 percent higher than the $146,200 median price in February 2010.

Sales in the high-end and low-end portion of the market rose last month, but overall home sales dropped again last month following an increase in January that was the first uptick in seven months.

A total of 3,257 single-family homes sold last month, a 2.2 percent decrease from the February 2010 results. The average price for a single-family home was $214,039 last month, 6.6 percent higher than the $200,867 average recorded in February 2010.

A total of 21.5 percent of all property sales last month were foreclosures with a median price of $79,000.

The percentage of foreclosure sales dropped from January, when they made up 24.7 percent of all property sales.

Read more: Houston luxury home sales surge, overall market dips | Houston Business Journal 

RE/MAX is a company built on the promise of exceptional customer service. Whether you are selling your home or searching for that special place to call your own, you deserve to work with someone who has your best interests in mind. I realize that something as valuable as your trust must be earned.

I strive daily to live on the basis of Honesty, Integrity, and Trust.

Whatever your particular real estate need, I'll work hard to make sure that you are completely satisfied. I have the knowledge, experience, and dedication that it takes to get results.

I am NEVER too busy for your referrals...

Brian Mitchell, 713-447-0963, brianamitchell@remax.net

What's the status of Houston's housing market?

Erik Barajas
More: Bio, E-mail, Facebook, News Team

HOUSTON (KTRK) -- A new report shows that median home prices in Houston rose to the highest levels ever recorded in the month of February. So why is Houston bucking the national trend?

It's sort of a mixed bag when you look at the new numbers. The single family median sales price is 3.9 percent, but sales were slightly down. And as we head in to peak buying season, experts wonder how high gas prices factor in.

The signs are in the yards and realtors are making showings, but the greater Houston area housing market is still waiting to take off.
Comparing February of 2010 to February of this year, prices are up but fewer homes were sold. However, real estate brokers say last year's federal tax credit -- offered from February to April -- helped provide an artificial boost.

"We see those numbers returning to more of a normal market. Losing the tax credit had a huge impact on those numbers to date," said Kenya Burrell with Burell Holtzapple Neal Properties.
Home sales are down 4.2 percent, but the average prices jumped 6.6 percent. However, a new wildcard is entering the market as the peak home buying season begins. Gas prices are nearing $4.
Serious buyers will keep searching amid high gas prices, but first time home buyers stretching their budgets may hold off.

"Is it going to hit four dollars again? Probably. Is that going to affect what people are going to looking for? It probably will," H.A.R Vice Chairman Danny Frank said.

Yet, real estate experts see another bright spot in the greater Houston area.
According to the Texas Work Force Commission's latest numbers, people are finding work in the Houston- Sugarland-Baytown area.

From January of 2010 to January of 2011, 56,600 jobs were added.
"At this time with the strong economy in Houston, we are definitely seeing transfers from out of state, as well as from out of the country coming into Houston with employment," Burell said.
Brokers also lament, in terms of pricing and low interest rates, it's a buyers' market.
"You might not make as much today as you made three or four years ago. That's true. But you can now buy more house for that same dollar," Frank said.
Experts say another strong sign was that homes ranging from $250,000-500,000 rose more than 10 percent.

(Copyright ©2011 KTRK-TV/DT. All Rights Reserved.)

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RE/MAX is a company built on the promise of exceptional customer service. Whether you are selling your home or searching for that special place to call your own, you deserve to work with someone who has your best interests in mind. I realize that something as valuable as your trust must be earned.

I strive daily to live on the basis of Honesty, Integrity, and Trust.

Whatever your particular real estate need, I'll work hard to make sure that you are completely satisfied. I have the knowledge, experience, and dedication that it takes to get results.

I am NEVER too busy for your referrals...

Brian Mitchell, 713-447-0963, brianamitchell@remax.net

HAR MLS Market Update for February 2011

HOUSTON HOME SALES TAPER SLIGHTLY IN FEBRUARY AFTER AN ENTHUSIASTIC LAUNCH TO THE NEW YEAR

Strong sales among luxury homes push prices to February highs

HOUSTON — (March 15, 2011) — February marked a slight slowdown in the Houston real estate market following a galloping start to the new year in January when home sales rose for the first time in seven months. Despite last month's decline in sales volume, average and median home prices rose to the highest levels ever recorded for a February in Houston.

February sales of single-family homes dipped 2.2 percent versus one year earlier. The popular middle segments of the Houston housing market, consisting of homes priced between $80,000 and $250,000, experienced declining sales while the low and high ends saw increases—the most dramatic among the $500,000-plus luxury segment.

For the second straight month, luxury home sales helped boost the average price of a single-family home, which climbed 6.6 percent from February 2010 to $214,039. The February single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 3.9 percent year-over-year to $151,900.

Foreclosure property sales reported in the Multiple Listing Service (MLS) declined 16.5 percent in February compared to one year earlier. Foreclosures comprised 21.5 percent of all property sales in February, down from the 24.7 percent share they claimed in January. The median price of February foreclosures fell 8.1 percent to $79,000 on a year-over-year basis.

February sales of all property types in Houston totaled 3,906, down 0.4 percent compared to February 2010. Total dollar volume for properties sold during the month rose 4.7 percent to $790 million versus $755 million one year earlier.

"The February housing report is encouraging if you recall that a year ago the federal government was rolling out the first-time home buyer tax credit, and consider the fact that home buyers today face more stringent lending guidelines than ever before," said Carlos P. Bujosa, HAR chairman and VP at Transwestern. "While we anticipate growth in the Houston real estate market this year, we do not expect it to come all at once," Bujosa said. "Factors that give us cause for at least cautious optimism in the months ahead are that local employment figures have been strong and that we are about to enter the spring home buying season."

February Monthly Market Comparison

The month of February brought Houston's overall housing market largely positive results when all listing categories are compared to February of 2010. Total property sales declined fractionally while total dollar volume, average price and median price all rose on a year-over-year basis.

Month-end pending sales for February totaled 3,034, down 4.2 percent from last year. That suggests the probability of lower demand when the March figures are tallied. The number of available properties, or active listings, at the end of February rose 6.8 percent from February 2010 to 49,839. The growth in available housing pushed the February inventory of single-family homes to 7.3 months compared to 6.3 months one year earlier. That means that it would take 7.3 months to sell all the single-family homes on the market based on sales activity over the past year. The figure still compares favorably to the national inventory of single-family homes of 7.6 months reported by the National Association of REALTORS? (NAR) and is unchanged from Houston's January months inventory.

CATEGORIES	FEBRUARY 2010	FEBRUARY 2011	PERCENT CHANGE
Total property sales	3,923	3,906	-0.4%
Total dollar volume	$754,836,514	$790,104,672	4.7%
Total active listings	46,658	49,839	6.8%
Total pending sales	3,168	3,034	-4.2%
Single-family home sales	3,329	3,257	-2.2%
Single-family average sales price	$200,867	$214,039	6.6%
Single-family median sales price	$146,200	$151,900	3.9%
Months inventory*	6.3	7.3	15.6%

* 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

February sales of single-family homes in Houston totaled 3,257, down 2.2 percent from February 2010. This follows January's 7.8 percent (corrected) increase in single-family home sales—the first increase in seven months.

Broken out by segment, February sales of homes priced below $80,000 climbed 19.7 percent; sales of homes in the $80,000-$150,000 range dropped 16.0 percent; sales of homes between $150,000 and $250,000 declined 3.4 percent; sales of homes ranging from $250,000-$500,000 rose 10.7 percent; and sales of homes that make up the luxury market—priced from $500,000 and up—surged 28.4 percent.

Both the average and median prices of single-family homes achieved the highest levels ever for a February in Houston. The average price of single-family homes in February was $214,039, up 6.6 percent compared to one year earlier. At $151,900, the median sales price for single-family homes rose 3.9 percent versus February 2010. The national single-family median price reported by NAR is $159,400, illustrating the continued higher value and lower cost of living available to consumers in Houston.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In February 2011, existing home sales totaled 2,734, a 2.0 percent increase from February 2010. The average sales price rose 5.3 percent to $197,838 compared to last year and the median sales price of $139,700 increased 3.5 percent.

Townhouse/Condominium Update

The number of townhouses and condominiums that sold in February slid 5.3 percent compared to one year earlier. In the greater Houston area, 306 units were sold last month versus 323 properties in February 2010.

The average price was flat at $158,795 from February 2010 to February 2011. The median price of a townhouse/condominium declined 7.8 percent to $118,000.

Lease Property Update

Demand for single-family home rentals soared 20.0 percent in February compared to one year earlier. Year-over-year townhouse/condominium rentals increased 15.9 percent.

Houston Real Estate Milestones in February

Sales of existing single-family homes increased 2.0 percent;

At $214,039, the average price of a single-family home reached the highest level ever recorded for a February in Houston;

At $151,900, the median price of a single-family home reached the highest level ever recorded for a February in Houston;

Single-family home rentals rose 20.0 percent;

Townhouse/condominium rentals increased 15.9 percent;

7.3 months inventory of single-family homes compares favorably to the national average of 7.6 months.

RE/MAX is a company built on the promise of exceptional customer service. Whether you are selling your home or searching for that special place to call your own, you deserve to work with someone who has your best interests in mind. I realize that something as valuable as your trust must be earned.

I strive daily to live on the basis of Honesty, Integrity, and Trust.

Whatever your particular real estate need, I'll work hard to make sure that you are completely satisfied. I have the knowledge, experience, and dedication that it takes to get results.

I am NEVER too busy for your referrals...

Brian Mitchell, 713-447-0963, brianamitchell@remax.net

Mortgage Rates Improve

Mortgage Rates Improve

Concerns about the pace of global economic growth and continued violence in the Middle East helped mortgage rates improve this week. Very strong demand for this week's longer-term Treasury auctions was also favorable. As a result, mortgage rates moved lower during the week.

The fighting in Libya continued this week, and violence spread to Saudi Arabia. Geopolitical tensions generally benefit bonds as investors seek out relatively safer assets. Unrest in oil-producing nations has the added impact of pushing oil prices higher. When consumers and businesses must spend more for energy, they have less money to spend on other items. This slows economic growth and can reduce expectations for future inflation, allowing investors to accept lower yields.

Extremely strong demand for this week's 10-year and 30-year Treasury auctions reinforced the view that many investors are seeking to reduce the risk in their portfolios. Despite budget deficit concerns, US government-guaranteed securities remain one of the primary "safe" assets for global investors. Demand for the longer-term auctions was well above average from both foreign and domestic investors. Increased demand drives bond prices higher and yields lower.

Compliments of Chris Phan: Patriot Bank

RE/MAX is a company built on the promise of exceptional customer service. Whether you are selling your home or searching for that special place to call your own, you deserve to work with someone who has your best interests in mind. I realize that something as valuable as your trust must be earned.

I strive daily to live on the basis of Honesty, Integrity, and Trust.

Whatever your particular real estate need, I'll work hard to make sure that you are completely satisfied. I have the knowledge, experience, and dedication that it takes to get results.

I am NEVER too busy for your referrals...

Brian Mitchell, 713-447-0963, brianamitchell@remax.net

Houston Real Estate Investors Forecast the Investing Market for 2010

Survey conducted with residential real estate investors in Houston, TX reveals a positive outlook for the real estate investing market in 2010

HOUSTON, Jan. 21 /PRNewswire/ -- MyHouseDeals.com surveyed residential real estate investors in the Houston area about the current investing climate and outlook for the real estate market in 2010. According to the survey, Houston investors have a positive overall outlook on the market. 77% of the 122 investors surveyed believe now is a good time to invest in Houston real estate, while 23% of them are neutral. Only 3% of investors surveyed believe now is not a good time to invest.

When asked about Houston home values, 36% of investors believe values have already hit a bottom and will be flat or up in 2010. 50% believe home values will hit a bottom sometime in 2010, and 13% believe home values will decline beyond 2010.

56% of investors surveyed indicated an overall optimistic outlook for the year, with 5% of investors rating themselves as highly optimistic. In comparison, 2% feel highly pessimistic, with an overall 20% indicating a negative view on the market. 25% of investors surveyed had a neutral outlook for 2010.

When asked about their feelings regarding the Houston market for the next five years, the percentage of investors who are optimistic jumped to 81% (56% rated themselves optimistic while 25% indicated they feel highly optimistic). 14% of investors feel neutral and only 5% feel pessimistic.

Investors were also asked if the housing crisis was good or bad for the Houston housing market in the long run. 38% of investors believe the crisis will have an overall positive long-term effect in the housing market, while 28% think the housing crisis was bad for the future of Houston real estate. 34% of the surveyed investors were neutral on the subject.

Of those surveyed, 74% were experienced investors who have owned or wholesaled at least two investment properties. The majority of respondents, 66%, invest part time.

For full survey report, visit http://www.myhousedeals.com/reports/2010/01/2010-Houston-Investing-Survey.pdf

The data for this report was collected by MyHouseDeals.com during the first week of January, 2010. For more information about this survey, please contact MyHouseDeals.com.

If you know someone looking to buy, sell, or lease - Please feel free to send them my way.

I AM NEVER TOO BUSY FOR YOUR REFERRALS!

Brian Mitchell, 713-447-0963

Keep Your Credit Scores From Costing You

Did you know that you could get hit with an extra $5,000 in interest payments on a $20,000, five-year car loan because you didn't treat your credit score with the utmost of care?

That ups the total cost of the car by 25% because you didn't pay your bills on time or you charged up a credit card to the limit. And, that lost $5,000 could have been money you put toward that maxed-out card that would have helped your credit score to begin with.

"A bad score can be costly," said Stephen Brobeck, executive director of the Consumer Federal of America, a nonprofit association of consumer groups.

A growing number of people you do business with -- landlords, mortgage brokers, insurance agents, cell-phone providers -- all look to your credit score to determine if you're a credit risk worth taking on, how much credit they might extend and at what price, meaning what rate of interest they will charge you.

[Click here to check current credit card offers, including rates and terms.]

"These credit scores can significantly influence the financial lives of consumers," Brobeck said.

And the sad truth is that many consumers still don't understand the machinations of their credit scores, according to a survey CFA conducted in partnership with VantageScore Solutions, a credit-scoring company that uses scores from all three major credit-reporting companies, Experian, Equifax and TransUnion, in its calculations.

On average, those polled only scored a 60 on the survey, what Brobeck points out is "a low passing grade" on a school level. (You can take the quiz yourself at www.creditscorequiz.org.)

 

Here are a few other things that most respondents didn't seem to know:

Credit scores aren't about your ability to pay the loan but about the risk of you not paying the loan. Your income could be high and outstanding debt more than manageable to easily assume that $20,000 car loan, but if your track record of paying bills on time is far from stellar, that makes you a credit risk that most lenders won't take on without just rewards, or a high interest rate, for doing so.

The strength of your credit score depends on the scale used. A FICO score of 700 is great because FICO scores from a low of 300 to 850. But a 700 on a VantageScore, which starts at 501 to a high end of 990, wouldn't be so good. Know what credit field you're playing in to understand your rank. Age and marital status aren't calculated into your credit score but the length of time you've had a score does. If you're 30 and you've spent a few years accumulating an excellent score, then you're as good as the golden 45-year-old who has done the same.

Your credit is not just one tidy score, but many different scores that are either generic or lender-based. To make matters worse, different lenders look at different scores when making their decisions. Your scores are available through FICO and the three credit-reporting companies, as well as websites such as www.annualcreditreport.com, where you can get a free credit report every year. Most scores at other websites are based on information that the three bureaus use and tend to give you an idea of what your score is, not an absolute rank.

Accuracy is key to your score. Sometimes information is wrong on your report. Check it frequently and request updates or corrections if needed.

Liens, foreclosures, short sales and bankruptcies can wreak havoc on your credit score, wiping out 100 to 300 points. But you can recover from a lien or even poor on-time payments in about nine months of good performance. Foreclosures, short sales or bankruptcies, however, will haunt you for years.

Finally there are three important ways for you to get and keep your scores glistening:

1. Pay your bills on time every month. Lenders are unforgiving of late payments and will probably charge you for it, too.

2. Never max out credit cards. And that applies to all of them, not just one or two. Keep your debt level at about 25% to 30% of available credit, per card, not the total of all cards.

3. Never open up multiple cards at the same time. Each time a card issuer takes a look at your credit score, you get nicked.