The luxury marketing in League City is moving but not as fast as it did last year and at a much slower pace than in 2007. Looking at the table above when you compare the number of luxury home sales over $1,000,000 in 2009 to 2008 they are down by 42%.  As you can see the higher the sales price the larger the drop off in sales activity. This is a trend I am seeing in all price ranges. With the current recession homes that are selling and selling quickly are under $250,000 which is being driven by the $8,000 tax credit.  Like in any recession prices are contracting because of decreased demand and an increase in foreclosures. To get a detailed report about the luxury home market contact me here.

This is short video about the many new so called real estate agent “Foreclosure Specialist” out there. I don’t normally post humorous items but this speaks directly to a real problem we have. The listing agent gate keepers for bank owned foreclosures are not your typical extrovert agent who is eager to help. Some are great but the vast majority of them are demanding, rude and their rules change as the wind blows. They don’t need buyers agents or buyers for that matter because banks typically price their homes so far below market they know no matter how bad or rude they are it will sell. And if you don’t play by the rules (most unwritten) your offer will not get submitted. Just another reason why it so important to have an experienced buyers agent when your looking for a foreclosure.

Wondering what’s going on in the Clear Lake home market? Curious what the average sales prices is for your city?  How long  is it taking for homes to sell? Below is a link to the “Clear Lake Market Report” for  3rd quarter of 2009. The report provides detailed market information about homes in League City, Clear Lake City, Friendswood, Kemah, Seabrook, El Lago and Clear Lake Shores.  I provided stats on how long it takes for a home to sale, the average sales price, how many homes sold in that area and the sales combined value of those sales (sales volume). When opening up the report you will see that values throughout the Clear Lake area have fallen when compared to the 3rdQ of 2008 except in League City. Sales volume has fallen slightly in almost every area. The good news is that there are fewer homes for sale and demand has increased slightly. The Supply of Homes on the market shows a stable or even a sellers market in all areas of Clear Lake except Kemah and El Lago. If you know of someone selling their home please feel free to send this to them.

Click ——-> to download the Clear Lake Market Report – 3Q.

2107 Laughing Gull is a foreclosure located in Brittany Lakes a subdivision in League City.  Brittany Lakes is located off League City Parkway close to I-45.  This four bedroom two and a half bath home has laminate wood flooring and a fireplace. Homes is Brittany Lakes range from $150’s to over $300. This property is priced well below the average price per square foot for Brittany Lakes at $179,000. If you would like to view this home contact me.

Its Foreclosure Monday… This 5 Bedroom 4 and a 1/2 bath two story home is offered at $429,300. The home is located in Friendswood Oaks a subdivision off of Bay Area Blvd in Friendswood.  Homes in Friendswood Oaks are priced  from the $300’s to $500’s. The subdivision is unique because the developer kept many of the trees when developing the subdivision and it offers large lots.

Tax Records show the home was built by Newmark one of three builders in Friendswood Oaks. The home is over 5,000 square feet and has a three car garage.  I highlighted this home to show that not all “foreclosures” are deals. This property was reduced down by the owner to [...]

This 4,911 square foot 5 bedroom 4 bath Dan Wallrath Custom home is a bank foreclosure located in  the gated section of Tuscan Lakes in League City. The property listed at high as $925,000 is now being offered for $615,000. Never lived the home has been on the market since August of 2007.  The Galveston County Appraisal District gave the home a market value of $708,800.  If you would like to find out more about the property

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Homes are moving fast in Rustic Oaks, a great subdivision located between League City Parkway and Main Street in League City.  There is only a 4.5 month inventory of homes which indicates a strong sellers market. Over the past 6 months on average homes have sold in 35 days with an average sales price. Currently there are only 4 homes on the market not under contract. To learn more about

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