An inside look at the residential real estate market in Southeast Texas including: the hottest neighborhoods, proven home selling strategies, home buying and negotiating tactics, median prices by neighborhood, average days homes are on the market, and professional advice on how to get the best deal when buying or selling a home.

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May 2010
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July 2010

June 2010

Southeast Texas Home Sales Data: May 2010

July is just around the corner! 

Here's one last look at the Southeast Texas residential housing market for the month of May.  Enjoy the Fourth of July weekend and when we all get back to the office Tuesday, check the blog for the Southeast Texas residential home sales data for June.

May Sales1

Its nice to see some movement in the high price points.  Seven homes sold for $400,000 or more.  The entry level price points still rule the market. More than half of the MLS areas had a median sales price of less than $100,000.  Only four areas had a median sales price of over $200,000.  The lucky areas: Fannett, Orangefield, Sour Lake and Tyler County. 

Happy Fourth of July!

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Southeast Texas Farm and Ranch Properties: What's New & What's Selling

If you don't know me, then I'll share something with you.  I live in outside the city of Beaumont, in the country.  My husband and I have seven horses, three dogs and about thirty acres of what we call our "own little piece of paradise".  Living in the country is a way of life for us.  We wouldn't know what to do if we could look out our window and look into our neighbors home.  

So I'm always watching the Southeast Texas farm and ranch properties that are for sale and the ones that have sold.  If you are curious, here's a sneak peak at what's going on right now.

Farm & ranch sales

Like the whole residential housing market, there has been a slow down in the number of farm and ranch properties that have sold in the past twelve months.  All total only eleven properties have changed owners.  That's about  one a month for the mathematically challenged readers.

Farm and Ranch Properties also average about double the length of time on the market (202) compared to approximately (110) for other residential sales.  Typically, they hold their value better than other residential sales and often appreciate faster when the market is going up. 

Why?

One answer is they are harder to finance.  Most lenders want a larger down payment when they are lending on a farm or ranch property.  The more money someone has tied up in a property the less likely they are to walk away in hard times. 

Another why?

When land costs go up, properties with land go up faster than homes in a traditional subdivision. 

What to buy a farm or ranch property?

Its getting harder and harder to find one close to Beaumont.  Most of the properties are in Tyler County but you can still find some treasurers in Fannett, Sour Lake, North Vidor, Mauriceville, Buna, Silsbee, and Winnie.  Occasionally, you can find a farm or ranch property for sale in Lumberton.  If you do be prepared to pay a premium. 

What's the cost of acreage in Southeast Texas?

That's a tricky question.  So much goes into the value of acreage.  Is it premium pasture?  That goes for one price.  Is it low and holds water?  Your price goes down.  Is it a great location surrounded by other upscale country properties?  Price goes up, way up!  A good rule of thumb would be expect to pay $6,000-$8,000/acre for good quality acreage. 

Want to buy a farm or ranch property in Southeast Texas? Contact me. 


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Residential Pool Home Sales: Beaumont, Texas

With the temperature rising outside more of us are probably "dreaming of a pool" these days.  Just imagine cooling off in that refreshing blue water at the end of a hard day. 

Let's see how many Beaumont, Texas home buyers have been out there buying homes with pools so far this year. 

Then let's see if they will invite us over to swim!


Pool Sales

To date twenty-six homes with pools have sold in Beaumont this year.  Don't despair. If you haven't bought one yet there are fifty-seven on the market right now.  To clarify: these are homes in Beaumont with an in-ground swimming pool made of fiberglass or gunite.  We're talking the real deal swimming pools here.

The data is broken down into geographic sections of town and pulled from the Beaumont MLS.

Five other little pool home statistics that you might want to wade your toes in:

  1. $336,564 = The average sold price of a home with pool in Beaumont, Texas
  2. $459,304 = The average list price of a home with pool in Beaumont, Texas
  3. $750,000 = The highest sold price of a home with pool in Beaumont, Texas
  4. $119,000 = The lowest sold price of a home with pool in Beaumont, Texas
  5. Willow Creek Country Club is the neighborhood where the most homes with pools have sold in '10.

Ready to go out and see some of the fabulous pool homes that are for sale in Beaumont, Texas?  Call me before it gets any hotter outside!

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Homes Sales- May 2010- Beaumont, Bridge City, Vidor, Nederland and Other Select Towns

Typically, May starts the prime home seasoning season in Southeast Texas.  This year home sales in Beaumont and other Southeast Texas towns got a early boost from the $8,000 gift from the Federal Government.  Home buyers faced an April deadline to take advantage of the tax credit which is now gone. 

"Home buyers who bought a home in May did it without the help from Uncle Sam spurring them on."

You might think, "Oh no, what now."  But apparently buying a home in Southeast Texas didn't come to a complete halt as some pessimists predicted. 

Here's some data about home sales in Southeast Texas for the month of May.

May Sales

The data comes from the Beaumont MLS recorded home sales between May 1, 2010 and May 31, 2010.  The Southeast Texas residential home sales market as a whole recorded 189 sales in May.  There be more details coming soon.

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