Inner Loop Newsletter November 2014 Edition

What’s the buzz on the Washington Corridor?

The Houston Chronicle selected Tiffanie Purvis as their premier agent of the week in last Sunday’s edition. The topic Ms. Purvis chose to discuss is her involvement in the current Real Estate Market as it relates to her work with Builders. She works diligently to locate suitable land for their new construction development sites and then sells the finished product. Ms. Purvis’s topic is supported by the referenced article below. Ms. Purvis said, “I am looking forward to staying busy”.

Premier Agent Spotlight: Tiffanie Purvis loves working with clients -and it shows.

By Rebecca Maitland, homes correspondent | October 31, 2014

tiffaniechronTiffanie Purvis, owner/broker, Texas Real Estate & Co, is warm, friendly, hardworking, and an aggressive Realtor who has created her own niche in the real estate market.

And at 36, she has accomplished much in the 16 years she has been in real estate.

Many people ask how she has over 150 listings, especially in this fast-moving market.

“The majority of listings are from builders that are upcoming listings, just being planned and will be rolling out throughout the rest of 2014 and into 2015,” Purvis said.

Purvis works with many builders in new construction, and provides an important service to them.

“One of the hardest things to find in Houston today is land to build on. So I find the land for builders, and they build and I list the homes as they are being built,” Purvis said.

She also helps builders and architects on the design of the homes.

Purvis lists the homes, sometimes before they begin being built or when they are under construction.

Helping clients see a home in pre-construction is definitely a skill, which Purvis has honed successfully.

builderhousesPurvis’ firm is a full-service company. When builders have an investment opportunity, she is there to help put the dollars together, helps find the land, provides the study on the planning, attends meetings, walks them through the purchasing process as a Realtor, and assists in the design.

Purvis obtained her real estate license at age 19, while she was still in college earning her business degree at the University of Houston.

After graduation, she was employed by a boutique construction firm, and served as the in-house real estate broker.

“When I was working with this firm, I learned everything about construction, it was hands-on learning. This knowledge allows me to work successfully with builders today,” Purvis said.

Purvis’ clients appreciate all of her experience, especially those considering an older home and renovations, as well as those looking for new construction.

“I love what I do. I enjoy working with my clients every day, and my clients say it shows,” Purvis said.

Houston real estate to remain hot in 2015, report shows

Posted on November 3, 2014 | By Nancy Sarnoff

houseforsaleBuyers should expect the competitive market for housing to continue into 2015, an economist said Monday in a quarterly real estate report.

“Developers are building homes about as fast as they can, but continued shortages in labor and vacant developed lots are keeping homebuilders from increasing production even further,” Jim Gaines, an economist with the Texas A&M Real Estate Center, said in a statement. “Combined with higher home prices and tougher lending standards, the Texas housing market will remain very competitive for homebuyers into 2015.”

Houston-area home prices shot up 7.4 percent in the third quarter as housing inventory remained at historic lows, according to the Texas Quarterly Housing Report, which is compiled by the Real Estate Center using statistics from multiple listing services in nearly 50 markets throughout Texas. The report includes data for single-family home sales.

From July through September, 23,645 homes sold throughout this area, an increase of 1.35 percent over the same period in 2013. The median price during that time was $198,700. Housing inventory fell to 2.9 months.

Across Texas, 80,851 single-family homes traded hands during the quarter, up just slightly over a year earlier.

Inventory across the state was up to 3.7 months from the previous quarter, but down from 2013. The statewide median price was $188,900, up 6.8 percent.

“The third quarter of the year is typically a much slower sales period — summer is over, school has started and families are staying put for the upcoming holiday season. That was not the case this year,” Dan Hatfield, chairman of the Texas Association of Realtors, said in a statement “Texas home sales continue to slightly exceed last year’s levels. If this trend continues, 2014 will surpass 2013 to become the second-best year ever for Texas real estate.”

The report below details housing activity across Texas markets.

TX Housing

– YOUR Inner Loop Real Estate Team FEATURED LISTING!!!!
1540 – 1542 W 23RD
6625 – 6627 LETEIN ST
Five stunning, traditional freestanding homes in Shady Acres! Great heights area location.
Freestanding 2 Story, 3/2.5, 2-car garage home designed to be architectural & exquisite, inside & out. This intelligently designed floor plan boasts high ceilings and custom finishes.
For Sale: $410,000
MLS# 81352941
MLS# 83490421
For Sale: $414,900
MLS# 68694310
$375,000 – $390,000
MLS# 17884559
MLS# 90632453
MLS# 17263046
– Real Estate News

Mortgage News

Mortgage rates in the U.S. declined, remaining at a 16-month low as more affordable borrowing costs fuel an increase in refinancing.

The average rate for a 30-year fixed mortgage was 3.92 percent, down from 3.97 percent last week, Freddie Mac said in a statement today. The average 15-year rate dropped to 3.08 percent from 3.18 percent, the McLean, Virginia-based mortgage-finance company said.

Homeowners are rushing to cut their monthly payments as rates hover at the lowest levels since June 2013. Refinancing applications jumped 23 percent in the week ended Oct. 17 to an 11-month high, the Mortgage Bankers Association said yesterday. The refinance share rose to 65 percent of home-loan applications from 59 percent.

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Brian Striegold is the Branch Manager of NRL Mortgage in the Galleria area. He and his team are excited to roll out a 580+ credit score FHA, USDA and VA program for his Real Estate partners. They specialize in Conventional and Jumbo loans going straight off of Fannie Mae’s guidelines as well as FHA with no crazy overlays like many other banks. Brian has been in the business for over 13+ years and is a preferred lender for many top builders and Real Estate firms serving all of Houston. Brian is also a host on Real Estate U on KPRC AM 950 talk radio every Sunday from 10 am to 11 am. Give him a call today to see why he has been ranked among the highest in customer service helping many people attain their goal of home ownership; he can be reached at 281-833-9424.