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Mark Brawley's Blog

By Mark Brawley | Agent in Houston, TX
  • Timbergrove/Lazybrook Market Report - May 2013

    Posted Under: Home Buying in Houston, Home Selling in Houston  |  June 13, 2013 12:04 PM  |  985 views  |  No comments
    Home buyers can’t get enough of Timbergrove and the proof is in the prices.  Despite tight inventories, prices had remained relatively steady with only moderate growth in late 2012 and Q1 2013.  With so few homes available and so much demand, it was inevitable that prices would really start to boom.  And they did.  May saw a large number of homes fly off the shelves quickly and for record prices. Check out the details below.

    Read the full post here: Timbergrove Homes
  • Timbergrove / Lazybrook Market Update – July 2012

    Posted Under: Market Conditions in Houston, Home Buying in Houston, Home Selling in Houston  |  August 28, 2012 11:06 AM  |  1,197 views  |  1 comment

    Below you will find the most recent data on home sales and prices for the Timbergrove and Lazybrook neighborhoods in Houston, Texas. If you are interested in receiving monthly Houston and Timbergrove/Lazybrook real estate news updates, then sign up for our RSS feed to receive instant updates. For more information about Timbergrove/Lazybrook and to view past market updates, check out our Timbergrove/Lazybrook neighborhood information page. Or email us at info@norhillrealty.com.

    Sales Activity

    Sales in Timbergrove Manor and Lazybrook continued strong sales activity in the month of July. 16 homes sold in July, which was up from last July’s 13 homes sold. Quality homes in Timbergrove continue to sell very quickly. Half of all homes sold in July sold in less than 31 days.

    Active Listings

    Inventory levels continue to remain low in Timbergrove/Lazybrook, which is great news for potential home sellers. When inventory is low (i.e. supply), and demand is elevated, home sellers usually see higher sales prices (i.e. a seller’s market). At the close of July, there were only 28 total listings on the market and only 17 new listings entered the market. Incredibly, current inventory levels stand at  less than 2 months.

    Home Prices

    The average price for properties sold over the past 12 months (ending in July 2012) was $295,622.  That’s almost unchanged from the previous 12 month period (ending July 2011).  Generally, Timbergrove/Lazybrook, like most other inner loop area neighborhoods, has been increasing at a moderate pace since 2008.

    Read the full post here: Timbergrove Realtor
  • Houston Heights Market Update – July 2012

    Posted Under: Market Conditions in Houston, Home Buying in Houston, Home Selling in Houston  |  August 23, 2012 10:43 AM  |  1,186 views  |  No comments

    Below you will find the most recent data on home sales and prices for the Greater Houston Heights area of Houston, Texas, which includes great neighborhoods such as Houston Heights, Woodland Heights, Norhill Heights, Sunset Heights, Brookesmith, and Shady Acres.  This great neighborhood is the ultimate combination of hip culture and family-oriented, kid-friendly atmosphere.  If you are interested in receiving monthly Houston and Greater Heights real estate news updates, then sign up for our RSS feed to receive instant updates. For more information about Greater Heights and to view past market updates, check out our Greater Heights neighborhood page.  Or email us at info@norhillrealty.com.

    Sales Activity

    112 Homes were sold in Houston Heights in the month of July.  That’s up 38% from the same period in 2011.   Not only were their a good number of homes sold, they sold fast last month.  Half of all listings sold in July sold in less than 35 days. The market in the Heights continues to be one of the strongest in the city.

    Active Listings

    Inventory levels in the Heights currently stands at 311 total homes active on the market and 148 new listings entering the market in July.  Current inventory levels in the Heights stand at 3 months!  That is very low.  This could be very good for home owners and home sellers. Homes are selling very quickly and there are more buyers than sellers.

    Home Prices

    Prices continue to climb in the Heights. The average price for properties sold over the past 12 months (ending in July 2012) was $343,976.  That’s up 5% from the previous 12 month period (ending July 2011).

    Read the full post here: Houston Heights Realtor
  • Washington Corridor Market Update – July 2012

    Posted Under: Market Conditions in Houston, Home Buying in Houston, Home Selling in Houston  |  August 23, 2012 10:38 AM  |  1,207 views  |  No comments

    Below you will find the most recent data on home sales and prices for the neighborhoods near the Washington Avenue Corridor in Houston, Texas, including Rice Military, Sawyer Heights, Cottage Grove, and Hogan’s Landing. If you are interested in receiving monthly Houston and Washington Corridor news updates, then sign up for our RSS feed to receive instant updates.  Or email us at info@norhillrealty.com.

    Homes Sold

    100 homes sold in the Washington Corridor in the month of July, 55 detached homes and 45 townhomes/condos. This is way up from the 74 units sold in July of last year.  26 of the properties sold in July were new construction.  This is up slightly from July 2011′s 23 new construction units sold. Activity in the Washington Corridor and Rice Military continue to be strong.  Long mortgage rates and a strong Houston economy have had a positive impact on home sales.

    Active Listings

    There are 331 properties currently on the market, 206 detached homes and 125 townhomes/condos.  In July, 127 new listings came on the market and the prices were reduced on 52 homes.  With only 4 months of inventory in the Washington Corridor, this neighborhood is leaning on the side of the sellers and home owners.  Low inventory levels typically lead to higher prices in the long run.

    Home Prices

    Over the past 12 months (ending July 2012), the median sales price has actually fallen about 2% to $293,500 from the same period last year (12 month period ending July 2011).  Townhouses/Condominiums median prices rose 3% to $284,750, and detached homes have fallen 1% to $315,350.

    Read the full post here: Washington Corridor Realtor
  • Montrose Houston Market Update – July 2012

    Posted Under: Market Conditions in Houston, Home Buying in Houston, Home Selling in Houston  |  August 22, 2012 11:25 AM  |  1,174 views  |  1 comment

    Below you will find the most recent data on home sales and prices for the Montrose/Neartown section of Houston, Texas.  If you are interested in receiving monthly Houston and Montrose/Neartown real estate news updates, then sign up for our RSS feed to receive instant updates. For more information aboutMontrose/Neartown or to view past market updates, click here.  Or email us at info@norhillrealty.com

    Homes Sold

    In the month of July, 34 homes sold in Montrose Houston.  Of the total home sales, 9 were detached homes and 25 were townhomes/condos.  This number is up from July of 2011, which only had 23 total sales.  Historically low interest rates and an improving Houston economy have surely helped move these numbers.

    Active Listings

    50 new listings came on the market in July, and there are 123 properties currently on the market, 66 detached homes and 57 townhomes/condos.  Inventory levels in Montrose continue to remain low.  With only 4 months of inventory, this is a great market for home sellers and home owners.  Low inventories typically lead to rising prices.

    Home Prices

    Montrose/Neartown home prices continue to perform very well.  Average home prices for July were up 2% from the same period last year to $391,364.  Detached homes performed particularly well over the past 12 months.  With average home prices rising 7% to $460,730 over the past year.

    Read the full post here: Montrose Realtor
  • Navigating Home Buying in Houston

    Posted Under: Home Buying in Houston  |  August 16, 2012 8:51 AM  |  1,119 views  |  No comments

    Buying a home in Houston is not like any other place in the country, so be prepared. The truly great homes in Houston don’t last long.

    At Norhill Realty, we focus on preparing you to find your dream home and making sure you have the information you need to make the process fun and stress-free.  Our knowledgeable, experienced agents will help you navigate the home buying process from the discovery of your dream home and through closing and beyond.

    STEP 1 – FIND A GREAT AGENT

    Well, the search is over. You have come to the right place. Norhill Realty has a dedicated team of real estate professionals that are ready to assist you. Our agents know this town street-by-street and they armed with the tools and technology to find a great home and negotiation a great price.  Leverage our Meet the Team page to learn more about our experienced consultants.

    STEP 2 – GET PRE-APPROVED

    Great homes typically sell very quickly in Houston, and most home sellers will not even consider your offer unless you have documented proof from a reputable lender that pre-approves you for mortgage financing. Getting pre-approved for financing is a really easy process. Find a great lender, answer some quick questions, and send them a few documents. Once you have your pre-approval letter in hand, you will be ready to put an offer on a home in a matter of minutes. Your Norhill agent can assist you in finding a great mortgage lender that can assist you with this process. If you would like us to send you a list of reputable mortgage lenders in Houston, feel free to shoot us an email at mortgage@norhillrealty.com.

    STEP 3 – FIND YOUR NEIGHBORHOOD

    It doesn’t take a very long drive through Houston’s Inner Loop before you discover that the neighborhoods in Houston are very unique. For years, Houston has maintained a firm commitment to a no zoning policy. In fact, Houston is the only large city in the United States that does not have zoning. This policy has served this city very well. According to the numbers, Houston’s the #1 city where paychecks stretches the farthest. Although these libertarian leanings make our homes much more affordable, this policy makes it all the more important that you are investing in the right neighborhood and more importantly the right street. Your Norhill agent can assist you with find the neighborhood that is the best fit for you, and more importantly, help you find the most sought after locations within that neighborhood.  Check out our Where to live in Houston series to learn more about our favorite neighborhoods in Houston.

    STEP 4 – FIND YOUR PROPERTY

    Once you and your agent have narrowed down the neighborhood or neighborhoods that are right for you, you can then begin the process of touring neighborhoods and touring properties. Whether its 3 or 30, we are ready to show you as many properties as it takes to find your home. It may be that you find a home that fits perfectly with your needs from that initial tour. If you don’t, our agents are armed with the technology to help you find great homes as the come on the market so you are ready to pounce a your dream home as soon as you are ready. If you would like to start your search online, visit our property search page.

    STEP 5 – MAKE AN OFFER

    Your Norhill Realty agent can assist you with putting together an aggressive offer to get the best deal possible your favorite property.  They will walk you through all of the finer points of the contract, such as price, closing costs, closing date, title/closing fees, etc.  Your agent will help you develop an offer with a well thought out negotiation strategy.  After we submit your offer, your Norhill agent will work diligently to make your case to the seller and leverage their professional experience to help you secure a great all around deal on the home of your choice. 

    After the terms are agreed upon by both parties, the executed contract will be delivered to an agreed upon title company to begin the transfer of ownership.  The contract will also be delivered to your mortgage company so they can begin the process of fully approving your mortgage financing.  Your Norhill agent will help to herd all of these parties as well as the seller along so everyone gets to closing on time and on schedule.

    STEP 6 – HOME INSPECTION

    Norhill Realty recommends to all of our clients that a detail home inspection be performed in the early stage of the contract.  The home inspection report will look at the condition of the home and its systems.  Your Norhill agent will review this document with you so you have a clear picture of all of the issues that might be covered in this document.  After review of the inspection report, your Norhill agent will help to get questions and concerns outlined in the report remedied by the seller.

    STEP 7 – GET TO CLOSING

    The Title company will be responsible for facilitating the actual closing. They will act as a disinterested third-party and prepare the final closing statement and disburse funds after all relevant documents have been approved and signed by the buyer, seller, and your mortgage lender.  The mortgage lender (if applicable) will be responsible for delivering all relevant closing documents to the title company after they have received a clear to close from their underwriting department.

    Once we arrive at the actual closing table, it will typically take 1 to 3 hours to complete the tranasction.  The buyer and the seller will review and sign all necessary documentation, and the title company will submit  those documents to the mortgage lender for final funding approval.  After funding is approved, Voila, the transaction is closed and the home is yours.

    STEP 8 – GET THE KEYS AND MOVE-IN

    After funding, the seller or the title company will present you with the keys to your new home and you are free to move-in. Your Norhill agent can assist you with finding a mover as well as helping you coordinate your utility hook-ups.  We will be happy to assist you well after the sell and look forward to long-term relationship.

    Read the full post here: Lazybrook Realtor
  • Mortgage Rates near all-time lows in July

    Posted Under: Home Buying in Houston, Financing in Houston  |  August 16, 2012 8:43 AM  |  269 views  |  No comments

    According to Mortgage News Daily (a really great site to monitor mortgage rate activity), mortgage rates neared all-time lows today.  Mortgage rates have had some ups and downs this year, but generally they have trended downward.  Here are some excerpts from MND’s Mortgage Rate Watch:

    Mortgage Rates continued their bounce back from abrupt weakness on Friday.  The two days of gains so far this week bring rates back within striking distance of all-time lows ahead of several key events in the coming days.  Markets have essentially shifted their focus to these events: the FOMC Announcement tomorrow and perhaps an even more important announcement from Europe’s Central Bank on Thursday, followed by the important Employment Situation Report on Friday.

    Today’s BEST-EXECUTION Rates 

    • 30YR FIXED –  3.5%, Some Approaching 3.375%
    • FHA/VA - 3.25-3.5% (varies more between lenders than conventional 30yr Fixed)
    • 15 YEAR FIXED –  2.75 – 2.875%
    • 5 YEAR ARMS -  2.625-3. 25% depending on the lender
    Read the full post here: Timbergrove Properties
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