Nov. ’08 Newsletter: Houston Dwell Market Update/ Foreclosure List

In this issue:
-Houston ranked 4th by Forbes for the “Best Bang for the Buck Cities” in the nation.

-Texas Employment Still Healthy

-Thrifty Solutions to Update an Outdated Kitchen

INVESTOR’S CORNER

.By Popular Demand…
Houston Innerloop Foreclosure List (Updated Daily). 

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More Bang for the Buck (Houston ranks 4th)

.The economic downturn is blowing through the country, but some cities are predicted to fare much better than others, and Forbes say six of those are in Texas. 

Forbes has compiled its list of “Best Bang-for-the-Buck Cities,” ranking Austin first, San Antonio second, Houston fourth and Dallas seventh. 
 
The article also lists the cities where you get the least for your money. See above link for more.

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Why this winter is a great time to buy …
 
Prices are probably as low as they are going to go as the market stabilizes, due to the government bailout of Freddie Mac and Fannie Mae, experts say. Read More…

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Texas Employment Still Rising
 
Texas’ economy continues to gain jobs while the nation’s is still losing them. The state’s nonfarm employment rose 2.3 percent from September 2007 to September 2008. Over the same period, U.S. nonfarm employment decreased by 0.4 percent.

The seasonally adjusted unemployment rate for Texas rose from 4.3 percent in September 2007 to 5.1 percent in September 2008. The U.S. rate rose from 4.7 percent to 6.1 percent. The state’s mining industry, still helped by higher oil prices (as of September), ranked first in job creation, followed by professional and business services, leisure and hospitality, construction and education and health services.
All Texas metros experienced positive employment growth rates for the year ending September 2008. To read a detailed report, go to the Real Estate Center’s website.  http://recenter.tamu.edu/

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Where Homes are Selling the Fastest

Altos Research, which tracks real estate data all over the country, identified ZIP codes where homes have the fewest days on the market.  Three Texas cities in top 10.  See the ranking here…

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Winners come in last in this study
 
Four major Texas metros were ranked among the least likely in the country to experience home-price depreciation in the next two years, all with less than a 1 percent chance.

On the list of 50 major U.S. metro areas, San Antonio placed fifth from the bottom with a 3.95 volatility rate and a 4.02 price appreciation in second quarter 2008.

Ranking third from last was Houston-Sugar Land-Baytown, which had a 1.74 volatility rate and a 4.44 price appreciation.

Dallas-Plano-Irving came in second to last, showing a 0.93 volatility rate and a price appreciation of 2.06.  Fort Worth-Arlington came out best with a 0.89 volatility rate and a 3.07 price appreciation.

All Texas MSAs had less than a 10 percent chance of prices decreasing in the next two years.  For full details on the study, see PMI Group Inc.’s Fall 2008 Economic and Real Estate Trends Report.

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HOME OWNER’S CORNER

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8 Ways to Sell your Home Faster

Dripping faucets, burned-out light bulbs, and squeaking hinges can detract from a home’s appeal. See rest of the list here…

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Thrifty Solutions to Update an Outdated Kitchen

Sellers don’t have to spend a bundle to turn their old kitchen into a showplace buyers will clamor to call their own. Removing a wall is an economical way to add space and light to a small area.  Read more money saving tips here…

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QUICK LINKS:

Cities to Avoid Home Purchase: Cities with most Exposure to Financial Crisis
NAR Home Sales Forecast
Houston Current Housing Market Report (Updated Monthly)
New Home Design Tips: 5 ways your new home can stand out from the crowd 

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TECH. TIPS

The internet is brimming with free services that will boost your productivity…

• Jott.com allows you to call a number and speak into your phone to record your thoughts. It automatically transcribes what you say and sends it to your e-mail address.
• At WalkScore.com you plug in the address of a Home-For-Sale to find out the home’s “walkability” to local parks, restaurants, and schools.
• Want to meet a client halfway? Meetways.com will pinpoint the exact location for you.

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Please join our Mailing List.

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Happy Thanksgiving!
 
Ruby Thomas Wadhwa, Founder. 
www.HoustonDwell.com