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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July 2010
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September 2010

August 2010

New Construction in Southeast Texas: What can you buy for less than $200k

Front door 1 You don't have to have a mega budget to buy a brand new home in Southeast Texas.  Here's a quick list of communities where you can find a brand new home for under $200,000.

  • Dominion Court  See Map of Location  Here you will find a selection of homes already complete in sizes from 1700-1900 square feet of living space.
  • Westwood Heights in Lumberton is too new for google maps.  On Marble Falls Drive you will find a new 4 bedroom, 2 bath with 1877 square feet of living space for $176,900.
  • In Bridge City you can find new homes on Cypresswood.  Prices starting at $179,900.
  • In Vidor, Corbett Homes is building an 1800 square foot 3 bedroom, 2 bath home for the 180's
  • In Beaumont, Springwood see google map  and Windemere click here for google map  are the neighborhoods to go to.  You'll find a high quality home about 1700 square feet with a lot of bells and whistles that you find in the much more expensive custom homes priced under $200,000.

If you are looking for more information on new construction in Southeast Texas just contact me I'll be glad to help.

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Texas Ranks Number 2 in Highest Closing Costs

Closing costs by state

Texas may be known for great home prices but we are also know for higher than normal closing costs.  Bankrate.com researched all fifty states and determined home buyers in Texas pay more in closing costs than buyers in any other state- except New York. 

The chart above shows average closing costs on a $200,000 home purchase.  The total fees don't include your prepaid items such as escrow accounts for taxes and insurance. 

For more details on closing costs in each state link on the link below "New York Number 1..."

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Slow Construction Zone in Beaumont, Texas

Slow constructionIts hard to be a home builder in Southeast Texas these days.  Since May 1, 2010 a grand total of eleven brand new, builder owned homes have closed in Beaumont, Texas.  Data comes from the Beaumont MLS. 

Those that did close averaged 183 days on the market.  That's six months for the mathematically challenged.  What to know how many brand new homes are available and waiting for a home buyer to come along?  Right now there are fifty one listed in Beaumont alone. 

You might be thinking the builders must be wheelin' and dealin' with home buyers about now.  That's where you'd be wrong.  Of the eleven sales that have occurred since May 1st all have been full price except for four. 

The average asking price of the homes that sold is $256,009.

The average sold price is $252,490.

Southeast Texas home builders seem content to hold on to their inventory rather than sell it at reduced prices in a difficult real estate market.  That's a good thing for other home sellers.  When the builders starting cutting prices, resale values also fall.  Buyers will buy new over resale when the prices are equal as a general rule of thumb. 

What are you going to pay for new construction in Beaumont, Texas?

In the Westend neighborhoods of Barrington Heights, Cottage Grove, The Meadows and Fairfield expect to pay from $110-130 per square foot of interior living space.  Out in Windemere you'll find a better price.  Just Construction is building a new home with granite, crown molding, and a lot of bells and whistles for about $105 per square foot. 

Now don't get me wrong there are good deals to be found but if you have your heart set on a brand new home be prepared to pay close to the builders price.  Even though its a slow time for residential construction - at least in Beaumont, Texas- the home builders seem prepared to wait on the right price instead of the fast sale.

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Beaumont Texas Home Sales in July

Who says the home buyer tax credit didn't increase sales this spring?  Not me!  Just look at the numbers.  Home sales were higher in April and May that they were in June or July.  In normal times you would find just the opposite.  More home sales in the months of June and July instead of April and May.

2010 continues to surprise...

July_5yr

July 2010 had fewer sales than any July of the past five years.  Oh no, say it ain't so.  The housing market seems to be sputtering. 

But if you can buy, oh what a time it is!  Rates are the lowest ever.  No really, the lowest ever.  Sellers are motivated.  In many cases really motivated.  Home values have come down.  It's the perfect storm for home buyers.  When will the market return to normal?  Oh, if only I had a crystal ball.  All I can say for sure is if you are thinking about buying a house, it doesn't get any better than this. 

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