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.

Previous month:
January 2011
Next month:
March 2011

February 2011

Front Door Friday, Great Chance to View 7475 Pebble Beach, Beaumont, TX

P1030103-1 

Coldwell Banker Southern Homes is hosting a Front Door Friday Open House Event this Friday, March 4th from 3pm-6pm.  After work, stop by and take a look at some of the great homes that are featured in this monthly event. 

For a complete list of homes involved, check out Coldwell Banker Southern Homes Website.  You'll find me at 7475 Pebble Beach, an awesome property in Willow Creek County Club.  Would you ever imagine you could buy a home on the golf course for $187,750?  Well, you can if you don't wait too long.  Someone in Beaumont is bound to see what a fantastic price this is. 

What to see the video preview? 

 

Price is now $187,750 not $205,000.  Stop by Friday afternoon and see for yourself what a great buy this Willow Creek Golf Front Home really is. 

Search MLS for Homes
Email Diane

Average Home Sales Prices in Beaumont, Texas

Okay, for those of you who are new to Southeast Texas Real Estate Talk, here's something you should know.  The best source - in my opinion- for residential real estate data for the whole state of Texas is The Real Estate Center at Texas A&M. 

When it comes to real estate data, they rock.  Take a look at this chart.

Beaumont sales&price 
You can find it on The Real Estate Center's website under Beaumont Market Data.  Here's five trends to consider:

  1. 2010 had approximately the same number of home sales and the same average price as 2001.
  2. 2003-2009 had higher sales and a higher average price than we had in 2010.
  3. The market peaked in 2007.
  4. Sales are off approximately 24% since the peak in 2007.
  5. *The average home price is down about 30% since 2007.

Don't be confused.  That doesn't mean the average home has lost 30% of its value.  It means more homes under $100,000 are being sold today which brings the overall average price down. 

Want to learn more about the Beaumont, Texas housing market.  You can log on to The Real Estate Center's Website and study up or you can contact me and let me do the work for you. 

 

Search MLS for Homes
Email Diane

Buying a Home in Southeast Texas Don't Wait

REALTOR® Magazine-Daily News-30-Year Rates Back Below 5%.

This may be your last chance this year to buy a home with an interest rate below 5%.  As the economic recovery takes hold this summer, all predictions are that rates will rise.  Its been a historic opportunity to buy a home and lock in a 30 year interest rate below 5%.

Southeast Texas home buyers this may be the best time to buy a home this year.  Call me for more strategies on finding the right home at the right price.

Search MLS for Homes
Email Diane

Selecting the Best Broker to Represent You in a Residential Home Sale or Purchase Transaction

Southeast Texas offers home buyers and sellers a lot of choices when it comes to working with a professional real estate company.  So how do you know which real estate broker is the right one to represent you in a home purchase or sale?  Well, one place to start is with the market leader.  Take a look at the pie chart.

Broker market share 

Coldwell Banker Southern Homes had the highest percent of market share in January 2011 for all homes sales recorded in the Beaumont MLS.  The pie chart shows the percent market share of the Northern sector of the Southeast Texas residential housing market. 

Here's something else you will want to know.  Right now there is a 16 month supply of homes in the Northern sector.   If you are serious about getting a good deal when buying a home in Southeast Texas you are going to want to work with the best real estate broker and agent you can find.  

If you want to make sure you choose the best agent for you, contact me.   My service guarantee is in writing and you don't pay a real estate fee until you close on a home. 

 

Search MLS for Homes
Email Diane

Beaumont and Mid-County Residential Home Sales Data for Jan. 2011

Old man winter sure knows how to put a damper on home sales.  Not that January is know as a hot month for residential sales activity here in Southeast Texas, but this winter has started off on icy ground.  Here's what the data looks like:

Jan_data 

What jumps out at you?  Take a look at days on the market.  Beaumont home sellers are now averaging over five months of marketing time prior to a home sale.  In Mid-County home sellers are averaging over six months prior to sale. 

The market is heavily weighed on the entry level properties.  33% of home sales were under $100,000 in Beaumont's housing market and 51% were under a $100,000 in Mid-County. 

The upper end of the housing market in Southeast Texas is still lagging the normal pace.  Just 14% of the home sales recorded in the Beaumont MLS were homes priced at $250,000 and above.  In Mid-County it was 7%.

So after reading this you may deem me a pessimist.  That would be wrong.  I'm a optimist.  When a market slows this much it is getting ready for a rebound.  Spring time is just around the corner. 

Search MLS for Homes
Email Diane

Beaumont, Port Arthur and Lumberton Fair Better Than Most in Foreclosure Filings

I'm sure you've heard all the news talk about the problems "foreclosures" are causing in towns across the country.  People call the office daily requesting information on foreclosures.  Interesting thing in Southeast Texas, there really aren't that many homes in foreclosure.  Certainly not like parts of the United States.  Take a look at this chart. 

2010 foreclosures 

Now, don't be confused.  The longer the line the better shape a town is in.  Take the Lumberton, Texas housing market for example- one out of 6,333 homes had a foreclosure notice filed in 2010.  Orange County, Texas was not far behind with only one out of 4,338 homes receiving a foreclosure notice in 20io.  Beaumont, Texas had one out of every 940 homes receive a foreclosure notice but receiving a notice is different than having an actual foreclosure occur. 

Each month in Jefferson County somewhere around a hundred foreclosures notices are filed by lien holders but each month at the foreclosure auction less than 20% of those homes end up being sold at a foreclosure sale. 

Its not to say you can't find some good deals on foreclosed homes in Southeast Texas, but there aren't as many as one might think.  Its important to know what to look for in a foreclosure and how to negotiate with the lien holders.

A professional REALTOR can save you from making a big mistake.  Many of these homes are in need of repair.  If you are interested in finding out more about homes for sale in Beaumont, Lumberton or any part of Southeast Texas contact me.  My experience can save you money and help you find the best home for your family at the best price.

Search MLS for Homes
Email Diane

Home Builders In Southeast Texas Don't Negotiate

2-4-2011 3-53-45 PM 
This smart chart shows the number of homes currently listed as new construction in the Beaumont multiple listing service (MLS), the median price and the average number of days those homes have been on the market.  It also shows the total number of homes listed as complete new construction that sold in 2010. 

But back to the headline, in Southeast Texas home builders don't negotiate.  At least not much it seems.  In 2010, there were 154 homes listed as new construction in the Beaumont multiple listing service (MLS) that closed.   Here's how much the home builders negotiated off the asking price in specific ares on average:

  1. Groves                      7%
  2. Lumberton              1%
  3. Orange County      1%
  4. Orangefield             4%
  5. Port Arthur             5%
  6. Port Neches            2%
  7. Beaumont W4        1%
  8. Beaumont N6         2%
  9. Nederland                1%

That's not a lot of negotiating.  Consider it was a slower than normal year for home sales and one has to be impressed that the home builders were able to stick to their asking prices the way they did.  There's something to be said for not over building a residential housing market with too much inventory.  (Just ask a lot of people in South Florida about that.) 

But don't be fooled, there are ways to negotiate with a home builder.  You can get a good deal on a new home in this real estate market.  Want to know more?  Just contact me.  I'll help you find the best deal out there. 

 

 

 

Search MLS for Homes
Email Diane