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Real Estate Guide 2008
Buying in
It's a buyers market but should you -- could you -- jump in or wait a little longer?
What $400K will buy
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Property description: This 2001 house has a two-story family room with matching windows, fireplace and wet bar overlooking a tropical backyard with pool, rock waterfall and spa, says David Flory, Realtor with Re/Max Professional Group. The large kitchen features a breakfast bar and nook with a view of the backyard, stainless steel appliances, Corian countertops, custom tile backsplash, walk-in pantry, ceramic tile floors and 42-inch cabinets. The tiled master bath has a corner jetted tub, a separate shower and double sinks. The study features built-ins and a wall of windows.
  • 6 bedrooms/4 baths
  • 4,522 square feet
  • .3 acres with cul-de-sac lot with pool
  • Features: double crown molding with hardwood or ceramic tile floors throughout, formal living room, formal dining room, spiral staircase, game room that opens to balcony and patio wired for speakers.
  • Listed by: Re/Max Professional Group
    Price trend
    Inventory up, prices up. In Houston this year, prices are slightly higher, but oddly, there are more houses on the market and so sales are slower, says Flory. A year ago, there was one sale pending for every four houses on the market, he says. This year, the ratio is closer to one for 10. Buyers can expect bigger homes and small lots. Expect to pay about $90 to $100 per square foot for a new home, and $80 to $95 per square foot for an existing home. In 2007, median home prices in the Houston/Baytown/Sugar Land area rose 2.1 percent, according to the NAR. The median home price during the last quarter of 2007 was $150,300.
    -- Posted: April 14, 2008

    Compare today's rates
    30 yr fixed mtg 3.56%
    15 yr fixed mtg 2.76%
    5/1 ARM 2.94%
    Rates may include points
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