Icon Realty has come across another outstanding investment opportunity for one of our investors. The subject property has a 3-year lease backed by Chevron Oil, with 2 1/2 years remaining on the lease. The home is located in the North Houston suburb of The Woodlands. Read more info about The Woodlands here and also you can view a map of the different Woodlands villages here.
The current owner of this home is marrying into money and wants to unload this property. Her loss will be your gain!
We here at Icon Realty helped the current owner put a tenant in this house when she decided to move in with her fiancé. We are also managing this property for her. We were able to find a qualified tenant for this house in 6 days at $1850 per month. We should be able to re-rent at this rate or higher once this lease expires in Oct. 2011. It is hard to dictate what the market will be like 2 1/2 years from now, but it certainly wouldn’t lease for any less than it’s current rate.
The numbers are absolutely beautiful for this property! Continue Reading »
I was out showing a client some high end homes in a local Lake Conroe subdivision named Bentwater by Lake Conroe a week ago and came across an interesting opportunity for a lucky investor client of Icon Realty….
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According to Houston Association of REALTORS® (HAR) For the full-year 2008 Houston housing market, the numbers showed mixed results. There was a 17.3 percent decline in volume of total property sales and total dollar volume tumbled 15.9 percent, which matched the market’s 2005 full-year total dollar volume. However the average sales price for a single family home in 2008 was $208,266, or a 1.0 percent increase on a year-over-year basis, with the median single-family home price of $152,000 flat compared to 2007.
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Property sales throughout the greater Houston area ended 2008 as they began, with lower volume following two consecutive record years. Overall property sales fell 16.0 percent last month when compared to December 2007, and sales of single-family homes were down 13.5 percent, according to new monthly data compiled by the Houston Association of REALTORS® (HAR). However, the figures show dramatic improvement from November, when both total property and single-family sales volume declined by more than 30 percent.
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Location: 11425 Dans Place Montgomery, TX 77316
Subdivision: Grand Lake Estates
List Price: $59,995
Estimated Future Value: 80k-90k+
Lot Size: 1.25 Acres
Risk Level: Low
Subdivision plat and pictures are on file
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I have stumbled upon a unique opportunity for our investors. If you have ever wondered how a foreclosure auction works read on and if possible join us at the Hilton Houston Westchase, Saturday December 20th, 1pm. The auction is being hosted by Hudson & Marshall. From what I can tell there will be approximately 100-125+ properties of all property types up for auction. Read on for more details of how this works and a list of available properties that will be up for auction.
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The Houston housing market continued to feel the effects of the troubled national economy in October and residual business interruptions caused by Hurricane Ike. New monthly data released by the Houston Association of REALTORS® (HAR) reflects improvement from market performance in September, when Ike derailed thousands of real estate transactions. However, the number of property sales across the greater Houston area declined last month when compared to October 2007, with sales of single-family homes down 20.1 percent.
“Houston remains the envy of real estate professionals around the country, who discussed their sales and pricing concerns with us at this month’s National Association of REALTORS® conference in Orlando,” said Michael Levitin, HAR chairman and principal of HTownRealty.com. “Month’s inventory in Houston is about half the national average, and on a year-to-date basis, prices here are up about three percent from 2007. Nonetheless, we must watch closely to see what further action the federal government may take to stimulate the economy, particularly on behalf of homeowners.”
Wondering what your home is worth? Find out here.
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Choosing an Agent
Buying and selling a home is one of the most important decisions of your life. The first thing to do is to find a REALTOR® you can trust.
Icon Realty agents are all full time, experienced agents that have made a decision to align themselves with a growing, innovative real estate company. Our family of agents are well educated and well versed in the workings of a real estate transaction. Icon agents have the technical expertise to market and sell your home to today’s ever evolving consumer. Icon agents will position your home Continue Reading »
For the thirteenth consecutive month, the Houston Real Estate Market shows a rise in home prices despite a decline in the number of homes sold.
Despite Hurricane Ike’s rampage, the month of September brought Houston’s overall housing market mixed results when considering all listing categories. Total property sales and total dollar volume fell, however average and median single-family home sales prices continued their steady increase on a year-over-year basis.
“Hurricane Ike effectively shut Houston’s real estate business down for half of September,” said Michael Levitin, HAR chairman and principal of HTownRealty.com. “Like other businesses, real estate agencies lost anywhere from a couple of days to a couple of weeks due to power outages and damage caused by the storm, and thousands of property transactions were postponed so that sellers could make repairs. Ike did, however, help accelerate transactions involving rental properties as many people sought short-term housing.”
Wondering what your home is worth? Find out here.
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I’ve had discussions with a few investors here recently who are looking to sink their money into something a little more lucrative then our weakening stock market. I’ve decided to write a post to inform others who may be thinking of investing here locally in the Houston area real estate market. If you are looking for good investments in the Houston area right now I would suggest investigating foreclosed properties, new construction, and/or lease option deals. I’ll tell you why I like each of these options.
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