By Heidi Dugan Dear Heidi, My husband and I keep reading about the declining stock market, inflation, and rising interest rates. Do you think we should wait because he feels prices will go down with all this negative press? Thanks, Waiting in the Wings Dear Waiting, In my 30 years of selling homes in Houston, the last time we saw a drastic decline in home prices was … [Read more...] about Ask the Professional: Should we wait for a price drop to buy a home?
Bellaire Real Estate
The feverish local housing markets continued to cool to pre-pandemic levels in October, with year-over-year sales down 56 percent in Bellaire and 30.8 percent in West University. Only 29 homes changed hands in the two cities that month, compared with 51 the previous October. Still, prices soared by nearly 30 percent in West University, up to a whopping $1.74 million average, … [Read more...] about November report: Temperatures and West U/Bellaire housing markets cool
By Heidi Dugan Dear Heidi, With interest rates rising would you recommend buying now or waiting until the spring to see if rates will come back down? Thank you for the great question! I am being asked this almost daily by both buyers and sellers. Mortgage rates have doubled this year from 3 percent to the 6 percent range, and our lenders are telling us they do not see … [Read more...] about Ask the Professional: When is the right time to buy a house?
Bellaire’s year-over-year home sales in August and September continued to be far off their pace during 2021, while West U’s held steady — but both saw robust sales prices, with West U’s average price of a home in September soaring to $1.7 million. During the two-month period this year, 33 properties sold in Bellaire, compared to 61 in the same period last year. Overall, the … [Read more...] about October report: Homes sales way off pandemic pace in Bellaire, steady in West U
By Heidi Dugan When considering buying and selling your home, always hire a professional. The real estate market is not constant. It is crucial for a professional to follow the trends and stay on top of new information when listing your home. With mortgage rates increasing, rising home prices and the inventory of homes for sale growing, today’s housing market can be hard to … [Read more...] about Ask the Professional: Complicated real estate dealings aren’t a time to go it alone