RISMEDIA, July 28, 2010—Coming off an historic low in May, sales of newly built, single-family homes rose 23.6% to a seasonally adjusted annual rate of 330,000 units in June 2010, according to U.S. Commerce Department data.

One of the interesting things to note about Galveston real estate after Hurricane Ike is the listing of homes on an “as-is” basis.  These homes have been gutted, usually to four feet or higher, mold mitigation performed, and the home swept clean.

Because these homes are gutted, buyers cannot get a regular mortgage on them.  Three Galveston bankers have told me that they would look at financing the purchase and renovation of the homes much like they do construction loans (first draw of the loan to purchase the property, subsequent draws for the renovation, and then rolling into some type of mortgage product after the work is complete), but only if the buyer is purchasing the home to be their own homestead,

Buyers purchasing to renovate and then sell will most likely have to pay cash.  And this is exactly what we are seeing happening.  Most of the homes being sold “as-is” are the smaller ranch-style homes in Gulf Village, Driftwood, Golfcrest, and Lindale (popularly known as Fish Village), but there have been a few large homes sold on an “as-is” basis.

If you have an interest in buying these types of homes, then please give me a call at 409/256-1274.

You can see all Galveston listings at my website, www.GalvestonTexasRealEstate.com.

The City of Galveston has issued another Hurricane Ike recovery update:

I am pleased to announce that The Selig Group has moved its operations to Keller Williams Realty Galveston.

The opportunity to be on the ground floor of a new Keller Williams office was just too good to pass up.  We joined Keller Williams because we wanted to be part of something exciting. We noticed may well-respected top producing agents throughout the country making the move to Keller Williams Realty, and that piqued our interest.

Keller Williams Realty’s emphasis on professionalism, ethics, and training is just such a good fit for us.

Our contact phone numbers and email addresses remain the same.

Many thanks for your continued support.

James Selig

]]> http://blog.galvestontexasrealestate.com/2008/04/24/james-selig-and-the-selig-group-move-to-keller-williams-realty-galveston/feed/ 0 http://blog.galvestontexasrealestate.com/2008/03/29/galveston-artwalk-coming-april-12/ http://blog.galvestontexasrealestate.com/2008/03/29/galveston-artwalk-coming-april-12/#comments Sat, 29 Mar 2008 20:52:19 +0000 admin http://selig.realty-buzz.com/2008/03/29/galveston-artwalk-coming-april-12/ Periodic Galveston Event a Favorite of Locals and Visitors

Every six weeks or so, Galvestonians and visitors get treated to Galveston ArtWalk.

It is time again the evening April 12 form 6 until 9.

The following galleries will be open:

Buchanan Gallery

DesignWorks

Galveston Arts Center

Galveston Art League Gallery

Leslie Gallery

Simply Art Gallery

Wagner Sousa Modern Art

The Water’s Edge Studio and Gallery

The following establishments will also be opening exhibits:

The Front Parlor

Jacques at Eiband’s

Mosquito Cafe

Nest

Sealy Artist’s Loft

Tremont House

Tina’s on the Strand

This event is free and it’s fun.  I always see folks that I never get to see otherwise and get caught up.

Think about making restaurant reservations for afterward at one of downtown’s great restaurants.

It will be a fun evening.

]]> http://blog.galvestontexasrealestate.com/2008/03/29/galveston-artwalk-coming-april-12/feed/ 0 http://blog.galvestontexasrealestate.com/2008/03/27/denver-court-galveston-texas-real-estate-spotlight/ http://blog.galvestontexasrealestate.com/2008/03/27/denver-court-galveston-texas-real-estate-spotlight/#comments Fri, 28 Mar 2008 05:28:02 +0000 admin http://selig.realty-buzz.com/2008/03/27/denver-court-galveston-texas-real-estate-spotlight/ Denver Court is a desirable Galveston neighborhood

The Galveston Texas real estate spotlight today belongs to Denver Court.

Developed in several different sections throughout the years, the area, though comprising several different legal descriptions, is known popularly as Denver Court. 

With development beginning on Caduceus Place in the 1920’s with impressive homes on almost 1/2 acre lots, development continued from there with the two newer homes having been built earlier this decade.

Different sections of the neighborhood have different sized lots and different sized homes. 

While Caduceus Place has large homes on large lots, the section in which I live has small bungalows on small lots. 

Next up in size are the 4800 to 5000 blocks of Woodrow on which the lots grow considerably and most of the homes are 1500 square feet and up.

Then comes Denver Dr. which also has some impressive homes on large lots. 

Sherman Blvd. is more of a mixed bag with a mixture of smaller and large homes.  Sherman is where my grandparents built the home in which my mother and uncle grew up.

The architecture is mostly 1920’s. 1930’s and 1940’s traditional Georgian or Colonial Revival styles as well as the Tudor style brick bungalows.  The prices have recently ranged from $120,000 to over $700,000, and there is one large home on acreage priced at well over $1,000,000.

Just a block from the Seawall, it is not uncommon to see the Denver Court residents walking or riding their bikes up to and from the Seawall.

If you have any interest in homes in this neighborhood, please feel free to contact us.

Galveston Texas Real Estate Definition of the Day:

Prequalification – An informal estimate of the financing potential of a prospective borrower.

]]> http://blog.galvestontexasrealestate.com/2008/03/25/galveston-texas-real-estate-definition-of-the-day-10/feed/ 0 http://blog.galvestontexasrealestate.com/2008/03/22/12914-concho-spanish-grant-galveston-texas-real-estate/ http://blog.galvestontexasrealestate.com/2008/03/22/12914-concho-spanish-grant-galveston-texas-real-estate/#comments Sun, 23 Mar 2008 01:18:27 +0000 admin http://selig.realty-buzz.com/2008/03/22/12914-concho-spanish-grant-galveston-texas-real-estate/ Quiet Retreat at 12914 Concho in Spanish Grant

12914 Concho – $199,900

This Spanish Grant beauty comes with a great view of West Bay.  Built by the builder/owner for his family’s personal use, this approximately 1,598 square foot home is absolutely immaculate.

The living room, dining room, and kitchen are all open to each other which makes this home a wonderful place to gather with family and friends.  All will enjoy relaxing on the covered deck.

You’ll enjoy the living room with its focus on the fireplace at one end and the view out back on the other.  This room is truly the heart of this home.

The master bedroom and bath are separate from the other two bedrooms and their bathroom, giving more privacy to the owners.  There is a half bath as well.

The lot on the corner next door is also for sale.

A link to the listing data is attached.  Please feel free to contact us if you have any questions about this premier home.

The Galveston Historical Foundation (GHF) will host the Featherfest opening reception at 7:00 pm, Saturday, March 15 at the Galveston County Historical Museum in historic downtown Galveston.

"The Golden Age of Ornithology and Printmaking" will feature depictions of birds by Mark Catesby, Alexander Wilson, and John James Audubon.

Featherfest is in its sixth year and is hosted by the Galveston Island Nature Tourism Council. Featherfest will run from April 3 until April 6.

]]> http://blog.galvestontexasrealestate.com/2008/03/14/galveston-historical-foundation-hosts-opening-reception-for-featherfest/feed/ 0 http://blog.galvestontexasrealestate.com/2008/03/08/galveston-texas-real-estate-definition-of-the-day-9/ http://blog.galvestontexasrealestate.com/2008/03/08/galveston-texas-real-estate-definition-of-the-day-9/#comments Sat, 08 Mar 2008 19:41:07 +0000 admin http://selig.realty-buzz.com/2008/03/08/galveston-texas-real-estate-definition-of-the-day-9/ Common Terms Used in Galveston Texas Real Estate

Galveston Texas Real Estate Definition of the Day:

Prepayment – When a borrower pays off a mortgage before the scheduled payoff date.