What’s going on with the Spring TX Real Estate Market?
• Decrease in closed sales. The 2008 YTD closed sales for MLS area 13 was 1,629 which is a decrease of 14.6%.
• Decrease in single-family median homes price of 1.8%. Even though the Spring Texas Real Estate market is experiencing a decrease in closed sales the GOOD NEWS is that our home prices are still remaining stable with only a small decrease over 2007.
There is no denying that our real estate taxes in Spring Texas are higher than in other states. But you shouldn’t ONLY take into consideration real estate taxes when considering whether its affordable to live in Spring Texas.
For 18 consecutive years the nonpartisan Tax Foundation has published an estimate of the combined state-local burden of each of the 50 states. And they have just released the State and Local tax burden estimates for 2008 and our big state of Texas came in as the 8th lowest state in state-local tax burden. And this rating of being in the top 10 lowest states in state-local tax burden is not a flux. We have enjoyed this ranking for the last four years.
We, Texans, pay 8.4 percent of our income in state and local taxes, compared to New Jersey at 11.8 percent, New York at 11.7 percent, Connecticut at 11.1 percent and Maryland at 10.8 percent. What’s the national average? Read More »
If you have been counting your pennies and saving for the down payment on your Spring Texas home you will want to consider purchasing before October 1, 2008. Because on October 1, the minimum down payment requirement for FHA loans increases from 3% to 3.5% of the sales price.
You may think an extra .5% does not sound like a lot but let’s put it into perspective. On a $150,000 home, the minimum down payment increases from $4,500 to $5,250. A net increase of $750 which is the equivalent of about the cost of a washer and dryer. On a $200,000 home, the minimum down payment increases from $6,000 to $7,000. A net increase of $1,000 which is the equivalent of about the cost of a refrigerator.
Its August and in about another week its time for Spring Texas schools to start up again. If you are like me, you are thinking …… already? Where did the summer go? Its still HOT enough to be summer but the calendar says its time for the kids to go back to school.
The kids living in Spring Texas attend schools in either the Conroe School District, Klein School District, or Spring School District. All of these schools have web sites that are packed with the information you need including school hours, location and phone numbers, and bus schedules.
After that first time you wait in the horrendously long line to drop your kids off at school, you might all of sudden decide having your kids ride the bus to school sounds like a pretty good idea. No joke about the horrendously long lines. Maybe one of these days I will take a picture to share with you.
If you are a first time homebuyer looking to purchase in the Spring Texas area, you need to be aware of the latest housing bill and its potential benefits to YOU. The housing bill which was signed into law is the Housing and Economic Recovery Act of 2008. Amongst other things the Housing and Economic Recovery Act of 2008 was designed to give the housing industry a shot in the arm and an incentive to get buyers off the fence and purchase a home.
WHAT IS THE FIRST-TIME HOMEBUYER TAX CREDIT?:
A $7,500 tax credit for eligible first-time homebuyers who purchase either a resale or new home. An eligible first-time homebuyer is a buyer who has not owned a principle residence during the last three years.
The full tax credit is available for individual taxpayers with a modified adjusted gross income up to $75,000 and for married taxpayers with adjusted gross income up to $150,000. It is completely phased out for individual taxpayers and married taxpayers with a modified adjusted gross income of $95,000 and $170,000 or higher, respectively. Read More »
In its latest issue, Money Magazine, announced the “Top 25″ cities where homes are affordable. And coming in at #14 on the list of affordability is Spring Texas homes. With an annual median family income of $74,298 and a 2007 median home price of $131,005, its easy to understand why the residents of Spring Texas enjoy a comfortable lifestyle.
Often I receive calls from potential Spring Texas homebuyers asking “What’s wrong with the house that you have on the market for $155,000?” The answer is nothing’s wrong with the house. Its just our market prices.
Or the other question is “Why are all the houses so cheap?” The answer is a two-part answer. First, the Spring Texas real estate market has not experienced the huge price appreciation that other parts of the U.S. has keeping our housing very affordable. Second part, the reason why we have not experienced large price appreciation is because of land. We still have plenty of land and the developers are building lots of new construction homes on it. The fresh and plentiful supply of homes coupled with a balanced demand has kept our home prices affordable.
If you are thinking about relocating to Spring Texas and have a few questions give us a call at 281.300.3141 or 281.804.8626. We would be happy to tell you about why we call Spring Texas “home” and help you find your own house in Spring Texas to call “home”.
The release of the latest TEA (Texas Education Agency) school ratings have left some Spring Texas school teachers and principals beaming with joy and some down right crowing from their accomplishments. The TEA rates schools and districts primarily based upon the test results of the Texas Assessment of Knowledge and Skills (TAKS). A standardized test that is administered to students in grades 3 - 11.
The ratings given by the TEA to the schools and districts are (E) - Exemplary, (R) - Recognized, (A) - Academically Acceptable, and (U) - Unacceptable. The ratings are one of the ways parents evaluate Spring Texas schools in determining the quality of education provided to their children. Read More »
If your vision of the perfect home comes with its own private pool, then you will love all the numerous options available for you on the Spring Texas real estate market. As of today, there are 286 Spring Texas homes for sale with a private pool in the $100,000 - $600,000 price range. That equals to 14% of the homes on the market have their own private pool which gives you plenty of choices.
But how do you know if you are a private pool person? To find out you need to ask yourself a series of questions.
1. Are you willing and able to pay for the upkeep of a pool? Some of the expenses associated with owning a pool include the following:
chemicals to keep the water clean and in balance
electricity for the pool’s lights, to run the spa’s pump, and to heat the pool
liability insurance which is even higher if the pool has a diving board
Vintage Park, an upscale town center shopping center, announces its first Summer Events schedule. On the following Saturdays, August 2 and 16, September 13 and 20 from 4 - 6 pm enjoy live music plus additional entertainment for the kids at Vintage Park.
The recently opened Vintage Park is located at the HWY 249 and Louetta intersection in Northwest Houston. Careful attention to detail has been paid in the construction of the Mediterranean architecture structure including hand-laid pavers, stone columns, clay tile roofs, and hand painted murals. Read More »
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