Parts of Grand Parkway 99 Open February 8 2016

Parts of Grand Parkway 99 Open February 8 2016

Even better news, the tolls are lifted for the first week. Drive on the new section of the Grand Parkway Toll-road for free until February 15, 2016.

Parts of Grand Parkway 99 Open February 8 2016. The two sections that are opening are the section between 290 and I-45.

“Life is about to get a whole lot easier for commuters in northwest Harris County with a huge stretch of the Grand Parkway linking the ‘burbs about to go online.

On Friday the Texas Department of Transportation toured reporters around two massive new segments of the Grand Parkway (officially called “F1” and “F2”), which is set to open for drivers on February 8. And here’s the kinda cool part: You can drive it for free, at least for that first week. Tolls won’t kick in, officials say, until February 15. ”

See the entire article and video by click on http://www.houstonpress.com/news/drive-the-new-grand-parkway-for-free-for-one-week-8113401

Parts of Grand Parkway 99 Open February 8 2016

 

NOV Announces Closing of Houston Manufacturing Plant

NOV Announces Closing of Houston Manufacturing Plant

Several major oil and gas companies have periodically conducted layoffs as oil pricing continue to fall. The QBee Team now several wonderful people who have been directly affected by these layoffs. Now it appears that some a closing facilities here in the Houston area. Until Oil prices start to rise again, we might see more facility closures in our area. While the Houston economy is more diverse than only Oil and Gas, major changes will have an effect on the housing market. Even if it only causes sellers and buyers to be a bit more cautious until every thing stabilizes again.

http://www.bizjournals.com/houston/news/2016/02/01/national-oilwell-varco-to-close-houston-facility.html

NOV Announces Closing of Houston Manufacturing Plant

Considering Residential Real Estate Investing

Considering Residential Real Estate Investing

The QBee Team can help you located potential investment homes based a search criteria that we build with you. Saving you both time and money! And of course, we can put your investment homes on the market and sell them for the highest amount in the shortest time frame.

Contact us today if you are considering residential real estate investing

Considering Residential Real Estate Investing

Luxury Real Estate Market Trends 2016

Luxury Real Estate Market Trends 2016

Do you realize that the Houston Luxury Real Estate Market (and surrounding areas) often drives what features and options that many builders offer in their other home options?

Many of the new trends will not be available in home builders others line for little while, however, if the trend is popular in the Luxury Real Estate Market, it will more than likely will be offered as an option or upgrade in their other lines.

Based on the article from John Leggett on BizJournales.com, here is the newest, Luxury Real Estate Market Trends 2016:

1. Blending of the indoor and outdoor spaces

2. Smart home technology

3. More lifestyle spaces and products

4. Material accent walls

5. New appliance colors

See the entire article by clicking on the link below.

http://www.bizjournals.com/houston/morning_call/2016/02/5-luxury-home-trends-sweeping-houston.html?iana=ind_rre

Luxury Real Estate Market Trends 2016

Oil Slump Hits Houston Home Market

Oil Slump Hits Houston Home Market

The extremely low oil prices is causing a great deal of caution in the Houston housing market. So much so, that it has made national news (see the attached Wall Street Journal link). This is good news for buyers, as home values are not escalating anymore, and home builders are offering more incentives, in hopes that they don’t need to slow down their building inventory.

Does this mean that now is not a good time to sell, of course not. Now is still the right time to sell, but it does mean that you need the right Real Estate agent and team on your side. The QBee Team is that right fit! Contact us today if you considering buying or selling a home.

http://www.wsj.com/articles/oil-slump-hits-houston-home-market-1453163797

8 Home Costs That Take New Buyers by Surprise

8 Home Costs That Take New Buyers by Surprise

It isn’t about just being able to make your mortgage payments and utility bills. Owning a home DOES have it unexpected costs. A good Realtor will help make you aware of some of these, but some just can’t be foreseen. Don’t get us wrong, we are not discouraging anyone from purchasing a home, but you do need to be realistic in what you can afford, and maybe not buy at the top of you can afford, leaving that extra cash for some of the unforeseen expenses that can come with home ownership.

Here is an article on MSN Real Estate that covers some of the top 8 Home Costs That Take New Buyers by Surprise

http://www.msn.com/en-us/money/realestate/8-home-costs-that-take-new-buyers-by-surprise/ss-CCraTK#image=1

Home Costs That Take New Buyers by Surprise

HAR MLS Report for December 2015

MLS Report for December 2015

 

THE HOUSTON REAL ESTATE MARKET ENDS 2015 WITH THE SECOND-HIGHEST SALES VOLUME OF ALL TIME

Slumping oil prices and limited inventory slow home buying for a third straight month in December

HAR MLS Report for December 2015

HOUSTON (January 13, 2016) Houston real estate faced a stiff challenge in 2015. It followed the best year on record for home sales. Add plunging oil prices and the resulting layoffs into the mix along with persistently low levels of housing inventory, and the result was the drop in sales that economists had forecast. While there were single-digit declines in sales volume at different times throughout the year, more substantial ones struck during the fourth quarter, including December. Nonetheless, the total number of 2015 single-family home sales as well as sales of all property types achieved the second-highest levels of all time, behind 2014.

December single-family home sales slid 9.7 percent versus December 2014 while total property sales dropped 9.9 percent. The latest monthly report prepared by the Houston Association of Realtors (HAR) shows a total of 5,879 single-family home sales compared to 6,507 a year earlier. The sales slowdown did allow inventory to grow from a 2.5-months supply, the lowest level of all time, to 3.2 months. Homes priced between $150,000 and $500,000 saw flat year-over-year sales, while homes below $150,000 and above $500,000 experienced declines.

“With oil dropping to levels around $30 a barrel, I think it’s fair to say that the Houston housing market is going to remain cooler for at least a little while,” said HAR Chairman Mario Arriaga with First Group. “The good news is the local economy is vastly more diversified than it was during the oil bust of the 80s and other industries are continuing to hire, so it really is going to come down to consumer confidence.”

A year ago, Houstonians were hailing a surge in employment that drew home buyers and renters from across the U.S. and around the world. By contrast, the latest Texas Workforce Commission report states that the Houston metro area added just 4,800 jobs in November, making it the third weakest November in 25 years, according to the Greater Houston Partnership, which notes that the region typically adds 10,000 to 12,000 jobs in the month.

In December, the single-family home average price dipped a fractional 0.6 percent year-over-year to $280,201 while the median price—the figure at which half of the homes sold for more and half sold for less—rose 2.9 percent to $216,000. The median figure represents an all-time high for a December in Houston.

December sales of all property types in Houston totaled 6,988, a 9.9-percent decrease from the same month last year. Total dollar volume for properties sold in December slid 10.9 percent to $1.8 billion versus $2.0 billion a year earlier.

 

2015 Annual Market Comparison

While 2015 began at levels comparable to the record-setting 2014, home sales began to falter as plummeting oil prices and energy industry layoffs sparked jitters throughout the Houston market. Even so, there were 73,724 single-family home sales and 88,764 total property sales, with both numbers representing the second most transactions in the history of Houston real estate, behind 2014.

Single-family home sales fell 2.4 percent for the year and sales of all property types dropped 2.9 percent. On a year-to-date basis, the average price climbed 3.7 percent to $280,290 while the median price increased 6.5 percent to $212,000. Total dollar volume for full-year 2015 matched last year’s record high of $23.5 billion.

The greatest one-month sales volume of 2015 was recorded in July with 7,895 single-family home sold. By contrast, the lightest one-month sales volume took place in January with 4,109 sales.

Months inventory began the year at a 2.5-months supply, and while it grew to a 3.5-months supply over the summer, it ended 2015 at a 3.2-months supply. Months of inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity.

CATEGORIES FULL-YEAR 2014 FULL-YEAR 2015 CHANGE
Single-family home sales 75,535 73,724 -2.4%
Total property sales 91,439 88,764 -2.9%
Total dollar volume $23,553,542,859 $23,559,111,514 1.0%
Single-family average sales price $270,182 $280,290 3.7%
Single-family median sales price $199,000 $212,000 6.5%

* 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.

 

December Monthly Market Comparison

December delivered largely negative results compared to home sales readings for December 2014. On a year-over-year basis, total property sales, total dollar volume and average sales price declined while the median price rose.

Month-end pending sales for all property types totaled 4,761. That is down 1.5 percent compared to last year and suggests the possibility of another sales decline when the January numbers are tallied. Active listings, or the number of available properties, at the end of December rose 18.7 percent from December 2014 to 30,661.

Houston’s housing inventory has held above a 3.1-months supply since May 2015, getting as high as a 3.5-months supply during the summer months and settling at a 3.2-months supply in December. That compares to a 2.5-months supply in December 2014. The national supply of homes reported by the National Association of Realtors (NAR) currently stands at 5.1 months.

CATEGORIES DECEMBER 2014 DECEMBER 2015 CHANGE
Total property sales 7,753 6,988 -9.9%
Total dollar volume $2,091,529,181 $1,863,139,044 -10.9%
Total active listings 25,821 30,661 18.7%
Total pending sales 6,507 5,879 -9.7%
Single-family home sales $281,973 $280,201 -0.6%
Single-family average sales price $210,000 $216,000 2.9%
Single-family months inventory* 2.5 3.2 28.5%
Single-family pending sales** 4,834 4,761 -1.5%

* 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.
** Effective May 2015, in an effort to be consistent with industry standards, the Houston MLS is now including all categories of pending sales in its reporting. Previously, the Houston MLS did not include “option pending” and “pending continue to show” listings in its reporting of pending sales. The new methodology is now all-inclusive for listings that went under contract during the month.

 

Single-Family Homes Update

 

Single Family

Single-family home sales totaled 5,879 in December, down 9.7 percent from December 2014. That marks the third consecutive monthly decline.

The average price declined a fractional 0.6 percent to $280,201. However, the median price achieved the highest level ever for a December in Houston, rising 2.9 percent year-over-year to $216,000. Days on Market (DOM), or the number of days it took the average home to sell, edged up to 57 days versus 56 in 2014.

Broken out by housing segment, December sales performed as follows:

 

  • $1 – $79,999: decreased 25.6 percent
  • $80,000 – $149,999: decreased 25.5 percent
  • $150,000 – $249,999: unchanged
  • $250,000 – $499,999: unchanged
  • $500,000 – $1 million and above: decreased 17.2 percent

 

Single Family Average Home Price

 

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 4,858 in December, down 7.9 percent versus the same month last year. The average sales price rose 2.5 percent year-over-year to $257,399 while the median sales price climbed 3.7 percent to $196,000.

Townhouse/Condominium Update

Sales of townhouses and condominiums declined 2.9 percent in December. A total of 536 units sold compared to 552 properties in December 2014. The average price dropped 14.6 percent to $197,904 and the median price edged up 1.2 percent to $159,900. Inventory grew from a 2.3-months supply to 2.9 months.

Townhouse/Condominium Sales

 

Lease Property Update

Demand for single-family lease homes rose 2.9 percent in December while townhomes/condominiums saw demand tumble 3.6 percent. The average rent for single-family homes was unchanged at $1,710 while the average rent for townhomes/condominiums dropped 3.1 percent to $1,459.

Houston Real Estate Milestones in December
  • Single-family home sales fell 9.4 percent compared to December 2014, marking the third consecutive monthly decline;
  • Total property sales dropped 9.9 percent (6,988 units);
  • Total dollar volume decreased 10.9 percent to $1.8 billion;
  • At $216,000, the single-family home median price achieved a December high;
  • Single-family homes months of inventory climbed to a 3.2-months supply versus 2.5 months a year earlier;
  • Townhomes/condominium sales dropped 2.9 percent with the average price down 14.6 percent to $197,904 and the median price up 1.2 percent to $159,900;
  • Leases of single-family homes rose 2.9 percent with rents flat at $1,710;
  • Leases of townhomes/condominiums declined 3.6 percent with rents down 3.1 percent at $1,459.

The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 31,000 REALTORS® throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. Residential home sales statistics as well as listing information for more than 50,000 properties may be found on the Internet at http://www.har.com.

The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All data is preliminary and subject to change. Monthly sales figures reported since November 1998 includes a statistical estimation to account for late entries. Twelve-month totals may vary from actual end-of-year figures. (Single-family detached homes were broken out separately in monthly figures beginning February 1988.)

Founded in 1918, the Houston Association of REALTORS® (HAR) is a 31,000-member organization of real estate professionals engaged in every aspect of the industry, including residential and commercial sales and leasing, appraisal, property management and counseling. It is the largest individual dues-paying membership trade association in Houston as well as the second largest local association/board of REALTORS® in the United States.

HAR Client Rating 5 out of 5 for 32711 Morrison

Another HAR Client Rating 5 out of 5 for 32711 Morrison

We love it when our clients are 100% satisfied with their experience with the QBee Team. It isn’t just our wish, but our Goal for every transaction we are involved in.

My Team, the QBee Team, and I, Jodie Collins aka Queen Bee, have done it again! We received a perfect HAR Client Rating.

Contact us today and let us proof the QBee Team difference!

http://members.har.com/Realtor-Agent-Rating/process/dispInquiryUpdate.cfm?id=2728&rnd=E06F39D0814F7B415B76DC2DCE371EB0

HAR Client Experience Rating 5 out of 5 for 32711 Morrison

HAR Client Experience Rating 5 out of 5 for 32711 Morrison