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Housing Real Estate Market Predictions 2012

CBS Money Watch featured an article on housing market predictions for 2012 and it’s clear that the nation’s real estate balance sheet is slowly turning around.

The official unemployment rate dropped to 8.6 percent while the U-6, which is the broadest measure of unemployment, fell below 16 percent for the first time since the Great Recession started. 

Fannie Mae’s November National Housing Survey also found that homeowners now believe that their home values will rise 0.2 percent over the next year.  That’s the first time in six months that price expectations moved from negative to positive terrain.

Another boost to the housing market is that mortgage interest rates still remain at historic lows with the 30-year fixed-rate mortgage at under 4 percent.  The 15-year fixed-rate mortgage averages close to 3 percent. 

Looking forward to 2012, the biggest indication that the housing market might begin to stabilize is that the number of delinquent homeowners facing foreclosure is shrinking.

Find out what’s happening in your local market through our Housing Trends Newsletter with market reports for 150 metropolitan areas.  As always, Texas Capital Properties is your online source for real estate in Austin, TX and Houston, TX.

 

Happy Holidays 2011

Find out what’s happened this year in your local real estate market.  Our Housing Trends Newsletter has the latest real estate market reports for 150 Metropolitan Housing Markets in the Country.  And as always, we are your online source for Austin real estate and Houston real estate!

Texas Capital Properties wishes everyone a home filled with the joy of family and friends this holiday season.

Holiday Events in Houston

Here are some wonderful Holiday Events taking place around Houston this season.  Happy Holidays!

Through Dec. 27: A Christmas Carol – A Ghost Story of Christmas
Alley Theatre
A Christmas Carol – A Ghost Story of Christmas returns this year with a re-telling of Charles Dickens’ classic story that follows Ebenezer Scrooge’s journey with the three ghostly spirits that visit him on Christmas Eve.

Through Dec. 31: The Santaland Diaries by David Sedaris
Alley Theatre
Company Actor Todd Waite will reprise his role as “Crumpet the Elf” in the outlandish, and true, chronicles of David Sedaris’ experience as a worker in Macy’s SantaLand display.  The Santaland Diaries is an hilarious cult classic, featuring comic encounters during the height of the holiday crunch. 

Through Dec. 27: Houston Ballet’s The Nutcracker
Wortham Theater Center
Set in nineteenth century Germany, the ballet opens at a charming Christmas party at which the mysterious Dr. Drosselmeyer gives his little niece Clara a magical toy that takes her on an unforgettable journey.  From the Christmas tree that grows to a towering forty feet in the first act to the cooks who fly magically through the air in the second act, The Nutcracker is sure to enchant audiences of all ages.

Through Jan. 22: Ice at Discovery Green
Discovery Green
Discovery Green will be transformed into a Winter Wonderland with the Ice at Discovery Green, a 7,200-sq ft. outdoor ice skating rink constructed on a portion Kinder Lake. Park-goers will enjoy a variety of family-friendly programming throughout the holidays, including concerts, movies and more.

Through Jan. 8: Seasons of Sharing
Children’s Museum of Houston
Holidays celebrated throughout the world will burst under one roof when the Seasons of Sharing exhibit is unveiled at the Children’s Museum of Houston. And there couldn’t be a beter place to showcase such an exhibit, with more than 80 different languages spoken in Houston and any number of cultural traditions celebrated. Everything from Ramadan to the Lunar New Year will be represented in Houston’s only multicultural holiday exhibit for children.

Is Buying a Home Cheaper than Renting?

According to real estate website Trulia, in many areas of the country it is cheaper to BUY than RENT.   But what’s right for you?  With near record-low mortgage interest rates and tax perks of home ownership, buying makes sense. 

Ask yourself a few questions as part of the decision-making process. 

How long do  you plan on staying in the home?  If you plan on staying several years, buying will make sense considering the traditional costs of buying and selling.

Do you have money for a down payment and closing?  In some cases you will need to put down 10% to 20% but if you qualify for FHA financing, you will only need 3.5% down plus closing costs.

Are you ready for home ownership?  It’s not always about the mortgage payment.  You will also be responsible for repairs and regular maintenance, insurance, utilities, home owner association dues, and property taxes.  It’s a big responsibility but can be very fulfilling for most home owners.

Even when it is cheaper to rent, it doesn’t always mean that’s the best choice.  Consider a monthly mortgage payment as a forced savings plan.  You will be building equity into a home and hopefully creating a nice nest egg for yourself in the long run.

Contact us today with any questions or for a FREE VIP Buyer Search of homes in your area sent directly to your email.