May 11, 2013

Wall Street investment firms are feverishly grabbing single-family homes, the Washington Post reports

Filed under: Bellaire Business,General News,Real Estate,Uncategorized — Lucie @ 4:03 pm

Institutional investors are taking advantage of cheap inventory, combined with our low interest rate environment, to make double digit returns from renting or re-selling homes. As a result, markets in some places are recovering rapidly — Phoenix, for example, has seen single-family home prices rise 23% in the past year.

From WaPo:

“Clearly the investors are moving markets in some places,” said Dean Baker, co-director of the Center for Economic and Policy Research and author of a popular housing blog. “In some markets at the bottom end, you are looking at 30 or 40 percent gains year to year. That is frightening to me. At some point the music stops. The investors if they get hurt, that is their problem. But invariably a lot of other people will get caught up in that.”

Here are a few numbers who sells levitra wirral to give you an idea of how dominant institutional investors are in this space.

February 28, 2012

Tax time is coming quicker than you know it!

Visit houselogic.com for more articles like this.

Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®

July 21, 2011

JAWS in Bellaire!

What better sense of creating community than to watch a movie with your neighbors? Join other Bellaire residents on Thursday August 18 at 7:30 PM at the Aquatic Center to watch Jaws (not recommended for kids under 10).  Tickets are $5 and can be purchased in advance at the Rec Center since seating will be limited.  Last fun before school starts, and it will benefit the Patrons for Bellaire Parks.  See ya there!

Dive in Movie

September 29, 2010

Bellaire Taxes to increase by 4%

Ok, here it is.  After enjoying several years of decreasing municipal tax rates, City Council voted for an increase of our residential taxes.  Granted, home values have decreased.  About 4% in the last year, and 11% for the commercial properties in Bellaire.  To compensate for the lost revenues to fund the budget, the city had to increase the tax rate.  It would apparently affect the average household $78 for the year. 

I hope you protested your property values this year because you would have received a significant decrease.  I protested mine (or actually, hired BTA to do it) and saved enough to compensate for this new rate hike.

Should you be curious about the market value of your home, don’t hesitate to sign up for the automated Market Snapshot on my website at www.LucieOgdee.com or give me a call at 713-539-1006.

February 10, 2010

Beautiful New Listing: 1114 Anderson

  Looking for a nice Bellaire family home under $650,000 and zoned to an exemplary school?  Look no further than 1114 Anderson St!  It’s a traditional brick home with a large backyard suited for children’s play and your future pool.  A gated driveway is great for riding a tricycle!  On the first floor, beautiful cherry hardwoods greet you as you walk into this bright and airy home with designer colors and contemporary flair!  The formal living has built in bookshelves and elegant crown molding: the room can also be your study, library or music room.  The formal dining has built-ins with an adjacent butler’s pantry.  The kitchen is open to the family room, and the slate backsplash in the kitchen ties in to the slate surround gaslog fireplace.  Recessed lighting is present all throughout the downstairs.  The master is enormous and shares the second floor with 2 other bedrooms and the vaulted ceiling gameroom.  The third floor features a large fourth bedroom complete with its own bath and closet.  For more pictures, click on this link to the Virtual Tour or give me a call to schedule a private showing at 713-539-1006

February 9, 2010

Dynamo Stadium better off in EaDo?

With all the controversy surrounding the possible development of a soccer stadium North of Bellaire City limits,  I can’t help but think of the reasoning behind the choice of this location.  It seems to me the original 12 acres purchased by the city of Houston East of Downtown (known as EaDo) would make so much more sense!  Being close to the Downtown hotels and other sports venues has a lot of advantages,  especially the access to the major freeways that converge Downtown to begin with.  It would also bring  development to an area of Downtown that was long neglected.  Also, there was the genius plan of having it connected to TSU by rail to allow the University to play its football games there: it tops it off as the better thing to do!  Why pick a location that is as as congested on weekends as it is on weekdays, close to the busiest and deadliest stretch of West Loop 610?  Hopefully this will not come to fruition!  What do you think?

September 14, 2009

Bellaire Home Sales – August 2009

There were 23 properties that sold in Bellaire in August, down from a total of 28 in July.  Sales ranged from $195,000 for a 5,100 SF lot on Holt to $1,675,000 for a 5,689 SF home.  The majority of the sales were in the $600,000 to $799,000 price range (8 sales) followed by the $190,000 to $399,000 range Buy Stendra (7 sales).   Three homes over $1 million were closed on.

To see what is available for sale now, visit www.BellaireBestHomes.com.   To get an idea of your home value, fill out the Market Snapshot request form at the top of the page for a monthly email of MLS generated sales data.  You can also email me at Lucie@MyBellaireBlog.com

August 29, 2009

Bellaire Boulevard Striped in Blue

What is the deal with Metro? I understand the blue line is the expressway to the Medical Center through Bellaire Boulevard but is that a reason to disfigure the road and make it look nothing short of clowny?  It has been over 3 months that the blue line has been painted on the curb, and I still cannot get used to it.  It is aggressive.  Disturbing.  It plays with our mind making us feel as if us drivers had to pay attention to an imminent danger.  Or maybe the intent is to make us think that if we are travelling down this road by car, shouldn’t we rather ride the bus?  Let me know what you think…  As far as I am concerned I keep looking for an eraser to make it go away!

March 23, 2009

February 2009 – Bellaire Sales

Filed under: Bellaire Business,Inner Loop,Real Estate — Lucie @ 9:33 pm

14 single family homes sold in February ’09 in Bellaire.  Of the 14, 3 were homes built before 1960 and ranged in price from $360,000 to $960,000.  New home sales ranged between $860,000 and $2.2 Million. 

Sales of single family homes were down compared to February ’08 (17 sales).  The homes sold at an average of 94% of their last listed price.  The price Online Blackjack per square foot varied from $151 for a home built in 1993 to $257 for a new construction.

As of today, there are 196 homes on the market and 14 pending.  For details about what is happening around your house, sign up for the FREE Market Snapshot on the right of this blog or email us to receive a detailed report.

March 9, 2009

Interest Rates Update from Jennifer Hernandez

Our phones have been ringing nonstop today after the unemployment numbers released worse than expected. Rates normally would go down. But not today. They went up a small bit, as the treasury prices are being pushed down with flooded demand (rates move the opposite…so up). 

 National employment is at 8.1% , the highest level since 1983.  Let’s look at the bright side, it has not yet reached the worst in history, which was 10.8% in 1982.  I don’t mean to make light of a grim situation, but they say psychology is everything. If you tell yourself it is a bad time, it will be. If you tell yourself it is a great time, it will be. Which is it for you?  I say it’s a great time. A great time to be a Houstonian/Texan for sure. We are (finally!) getting the recognition we deserve as having (a) lower unemployment (b) more affordable housing (c) less foreclosures, and (d) having a positive jobs market.  And did I mention we only have 6.5 months of housing inventory? Its a far cry from Florida with 28 months. I just cannot even imagine what that would be like. Again, thankful to be a Houstonian.

 Is Houston experiencing lower pricing and sale levels? Yes, we are. No one is recession proof. Oh wait……Fargo, ND has 3% unemployment, and according to CNN is not in a recession. That’s right. Let’s pick up and move there! (No offense if you are from Fargo). I’m a city girl. We live in the 4th largest city in the US (#1 if you are talking land size)  with lots of people. And that means that we are impacted more by trends. Also, we have to keep in check that the last few years we enjoyed above average returns in real estate. Incredible numbers! What we are seeing now is more ‘normalcy’. That statement is from Mike Inselmann himself , the President of Metro Study.

 SMART BUYERS are buying now with these low rates! With unemployment numbers on the rise, and the recession with no end in sight, will we have a repeat of the 80’s and 17% interest rates? My generation (I was born in the 70’s ) is too young to remember these times. But I have been told that history is starting to repeat itself. So will Obama’s policy making make Jimmy Carter look like a saint? My point here is: get out there and buy while you can, before the rates spiral out of control. You could be one of the lucky few someday with a single digit rate- and in the 4’s at that!

 Have a fabulous weekend, and remember, I am your trusted friend in mortgage lending.

Jennifer Hernandez

Vice President/Mortgage Consultant

Patriot Bank Mortgage

Office:    713-337-8400

Mobile:   713-446-7791

E-mail:    jennifer@patriotbankusa.com

Web:      www.loanwithjennifer.com