Galveston Texas Real Estate and Community News

Pending Home Sales Rise

jselig — Fri, 03 Sep 2010 14:12:57 +0000

Exceeding Expectations, Pending Home Sales Rise 5.2%

RISMEDIA, September 3, 2010—Following a sharp drop in the months immediately after the expiration of the home buyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors.

The Pending Home Sales Index, a forward-looking indicator, rose 5.2% to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June, but remains 19.1% below July 2009 when it was 98.1. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, cautioned that there would be a long recovery process. “Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” he said. “But the recovery looks to be a long process. Home buyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity.”

Yun added, “Affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates, helped partly by the Fed’s very accommodative monetary policy. The loan underwriting standards are tighter, but home buyers can improve their chances of getting a loan by staying well within their budget.”

The PHSI in the Northeast rose 6.3% to 62.5 in July but is 21.1% below a year ago. In the Midwest the index increased 4.1% to 66.7 but remains 25.7% below July 2009. Pending home sales in the South rose 1.2% to an index of 86.3, but are 15.6% lower than a year ago. In the West the index jumped 11.6% to 95.0 but is 17.6% below July 2009.

The national index had fallen 29.9% in May and another 2.8% in June.

For more information, visit www.realtor.org.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

From RISmedia: “Home Buyers Are Ready to Move from the Sidelines”

jselig — Thu, 02 Sep 2010 03:01:36 +0000

Home Buyers Are Ready to Move from the Sidelines: Survey from RISMedia » Consumer News and Advice by susanne

RISMEDIA, August 30, 2010—Are more Americans positioning themselves for home purchase? Although May’s data showed that home sales were down 26.8% as the home buyer tax credit concluded, a new survey conducted by Relocation.com suggests some families are opting for renting while they research—cash in hand—for deals on a new, more desirable home in their area.

Among the key findings of the survey: Of the 60% of individuals moving into rentals, 24% were previous homeowners who are renting temporarily while they look for a new home to purchase. Underscoring this finding is the fact that for many of these families, foreclosure was not the reason for moving—in fact, the number of consumers who moved due to foreclosure dropped by 70%.

Furthermore, many of these families stayed in the area (one in three made a short distance move of 100 miles or less), opting to remain in a location where they already know their schools, shopping districts and prime neighborhoods.

“While the housing market continues to flux from month to month, we’re seeing strong, continued interest as consumers looking to move start their research with us,” said Relocation.com Chairman and Founder Sharon Asher. “These findings suggest that more Americans may be poised to re-enter the housing market this year.”

The Relocation.com survey was conducted in early June 2010 and is a continuation of consumer surveys conducted since March 2009 to gauge moving and relocation attitudes and behaviors.

For more information, visit www.relocation.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Galveston Real Estate – Price Reduced on Beautiful High-Rise Condo at 500 Seawall Blvd., No. 1203

jselig — Tue, 31 Aug 2010 11:00:54 +0000

Galveston real estate - welcome to Emerald By The Sea, No. 1203, an attractively furnished “Sapphire” unit with a stunning view of the Galveston Harbor and Galveston Bay beyond plus a panoramic beach, bay, and city view from the balcony. The price has just beeen reduced to only $270,000.

This luxury condominium has two bedrooms and two and one-half bathrooms in approximately 1,082 square feet. Relax on the large balcony and enjoy cooking in the large kitchen with loads of cabinet and counter space, granite counters, and all appliances.

The amenities at Emerald By The Sea include an infinity edge pool, three other pools, lobby bar, movie theater, game room, terrific fitness center, and guest suites. Across the street from Galveston’s Stewart Beach and just minutes to downtown Galveston and the University of Texas Medical Branch (UTMB), a great lifestyle, either full or part-time, exists at the Emerald By The Sea.

Click on 500 Seawall Blvd., No. 1203 to see the listing information and photos, and please feel free to contact us if you have any questions about this premier condominium.

See all Galveston condo listings and all Galveston real estate listings.

Galveston real estate – 6102 Seawall Blvd., No. 141

jselig — Mon, 30 Aug 2010 11:00:35 +0000

Galveston real estate - Welcome to 6102 Seawall Blvd., No. 141, a condominium in popular Casa Del Mar with a very affordable Gulf view.

This one bedroom, one bathroom condo has approximately 462 square feet. Efficiently planned , this condo is furnished to sleep six plus has a balcony on which to sit, relax, and watch the water.

No. 141 provides easy access to the pool, and Casa Del Mar is located just steps from the beach and just a few minutes ride to Moody Gardens, Schlitterbahn, and golfing.

Please see the photos and listing information for 6102 Seawall Blvd., No. 141, and please contact us if you have any questions about this condominium.

See all Galveston real estate listings.

Galveston Real Estate – 1924 Back Bay Drive

jselig — Sun, 29 Aug 2010 11:00:54 +0000

Galveston real estate - Welcome to 1924 Back Bay Drive, a spacious townhome being offered at a great price. This lovely four bedroom/two bathroom home has a two car garage and approximately 2,124 square feet.

The large living/dining room overlooks the lovely patio and is separated from the kitchen by only a large breakfast bar. The downstairs has been beautifully remodeled with all ceramic tile floors and granite kitchen counters. The downstairs bedroom could also serve as a study or a formal dining room.

Upstairs are three bedrooms including the very large master with its two large closets and its own balcony.

This townhome is located just a few moments from Moody Gardens and Schlitterbahn.

Please see the photos and listing information for 1924 Back Bay Drive, and please do contact us if you have any questions about this premier townhome.

See all Galveston real estate listings.

Galveston Real Estate – 8002 Pruitt Drive

jselig — Sat, 28 Aug 2010 11:00:24 +0000

Galveston real estate - Welcome to 8022 Pruitt Drive, a lovely dream home with bay views in two directions and easy access to the Gulf Freeway, historic downtown Galveston, and UTMB. This home, built in 2006, has four bedrooms and two bathrooms in approximately 1,740 square feet.

The terrifically efficient floor plan provides a spacious open living/dining/kitchen area with a wood burning fireplace, new stainless appliances, beautiful cabinets with dentil molding, ceramic tile floors, and a raised tray ceiling. The large master bedroom comes with a large beautiful master bath with twin sinks, whirlpool tub, and separate shower. There is new carpet in the bedrooms, excellent closet space, and crown molding throughout .

Relax outside on the spacious deck, part of which is covered. Downstairs you will find the large garage and covered parking for vehicles and boats or for use as a covered patio.

See the listing information and photos for 8022 Pruitt Drive, and please contact us if you have any questions about this premier home.

See all Galveston real estate listings.

Galveston Real Estate – My August Newsletter Now Published

jselig — Fri, 27 Aug 2010 22:17:41 +0000

The August issue of my newlsetter, Realty eZine, has been published.

Click here to view the newsletter.

See all Galveston real estate listings.

Keller Williams Realty Presents “This Month in Real Estate”

jselig — Thu, 26 Aug 2010 16:39:38 +0000

Keller Williams Realty presents the August 2010 version of “This Month in Real Estate.”

The video this month emphasizes that, with interest rates being as low as they are, now is the time to buy.

Please see all Galveston real estate listings.

Galveston Real Estate – 1114 Broadway in Galveston’s Famed East End Historic District

jselig — Fri, 20 Aug 2010 17:31:38 +0000

Galveston real estate - Welcome to the 1880 Capt. Joseph Boddecker Home at 1114 Broadway. This Victorian home has been in the family for generations but can now be yours.

As you enter you realize that this home is bigger than it appears from the front. All rooms open onto the wide center hall providing a feeling of spaciousness as do the high ceilings throughout the home. The living and dining areas are open to each other, and there is a separate breakfast room as well. The beautiful kitchen is light and airy and includes lighted cabinets and under cabinet lighting. The kitchen was designed to take advantage of the space.

Off of the kitchen is a large deck with built-in seating and steps leading down to the garden area with its vine-covered pergola. The garage building includes a large bonus room, an oversized two car garage, and a spacious upstairs storage room that has the potential to be turned into an apartment.

1114 Broadway has in the past been featured on the GHF Historic Homes Tour and the East End Christmas tour, and this home is just a few minutes from historic downtown Galveston and The University of Texas Medical Branch (UTMB).

See the listing information and photos for 1114 Broadway, and please feel free to contact us with any questions.

See all Galveston real estate listings.

Galveston Real Estate – Modern Waterfront Masterpiece Designed By Howard Barnstone

jselig — Thu, 19 Aug 2010 15:40:15 +0000

Galveston real estate - Your clients have the rare opportunity to own the Howard Barnstone/Eugene Aubry designed home at 1301 Harbor View Drive at a reduced price of $650,000. Even rarer still is that this modern masterpiece is located on the water with excellent deep sea access. With three bedrooms and three and one-half bathrooms, this home has approximately 4,143 square feet.

Situated on a large lot with about 100 feet of prime water frontage at 1301 Harbor View Drive, this home offers views of the Galveston Harbor, the most interesting views on the island, from all major rooms. You can literally watch the ships and boats sail past. In addition, this neighborhood is the closest on the island to deep water access.

Designed for the family now selling it, the home was made for entertaining with its large living area, adjacent dining area and the numerous access points to the backyard.

1301 Harbor View features skylights, a study with its own bathroom, an abundance of storage and built-ins, and the most interesting design.

According to architectural historians Ellen Beasley and Stephen Fox in their book, Galveston Architecture Guidebook, “Although the street front of this flat-roofed house, faced with panels of pink St. Joe brick and solar glass, is unassuming, it cloaks what is one of the great houses of Galveston. The house is tailored in plan to its parallelogram-shaped lot in order to orient major rooms to the harbor view. This results in internal eccentricities, which Barnstone and Aubry cleverly resolved in the house’s lofty, proportioned, glass-walled spaces.”

This masterpiece is now ready for your clients’ post-storm renovation.

The listing information and additional photos can be obtained for 1301 Harbor View Drive. Please feel free to contact us if you have any questions or would like to schedule a showing of this premier home.

See all Galveston real estate listings.