Real Estate Market News for January – Leslie Lerner Properties – Houston Realtor

[wpcol_2third id=”” class=”” style=””]JANUARY NEWS YOU CAN USE
Housing Stats ∙ Homestead Exemption ∙ Prevent Burst Pipes During a Freeze

HOUSTON HOUSING MARKET HELD STEADY THROUGHOUT 2016

The Houston area housing market was stable throughout 2016 despite fears of falling oil prices and layoffs. After a decline in 2015, single-family home sales increased 3.0 percent and is 1.3 percent above the homes sold in 2014.

Inventory levels grew during the first half of 2016, hitting a 4.0-months supply in July. Levels were down to a 3.3-months supply, at the end of the year, which is the same level as the beginning of 2016.

The Houston housing market had gains in December 2016 with single-family home sales and total property sales all up compared to December 2015.

Single-family homes inventory grew from a 3.2-months supply to 3.3 months. Inventory across the U.S. currently is at a 4.0-months supply.

According to the latest monthly report prepared by the Houston Association of REALTORS® (HAR):

  • Single-family home sales climbed 5.3 percent compared to December 2015 with 6,628 units sold;
  • Single-family home sales broken out by price range:
    • $1 – $79,999: decreased 16.6 percent
    • $80,000 – $149,999: decreased 8.0 percent
    • $150,000 – $249,999: increased 19.5 percent
    • $250,000 – $499,999: increased 17.5 percent
    • $500,000 and above: increased 22.7 percent
  • 2016 single-family home sales were up 3.0 percent from 2015;
  • Total December property sales increased 5.1 percent to 7,868 units;
  • Total dollar volume for December increased 10.1 percent to $2.2 billion;
  • Single-family homes months of inventory edged up to a 3.3-months supply;
  • Days on Market for single-family homes edged up to 62 days versus 60 last year;
  • Townhome/condominium sales fell 8.1 percent;
  • Leases of single-family homes rose 5.2 percent with average rent down slightly to $1,690;
  • Leases of townhomes/condominiums climbed 9.5 percent with average rent up slightly to $1,497.

>>>Read the entire release.

Remember to File For A Homestead Exemption Before April 30, 2017

If you purchased a property prior to January 1, 2017; (2) you occupied it as your principal residence on January 1st; and (3) you and your spouse do not claim a residence homestead exemption on any other property, you could be eligible for a property tax exemption. Make sure you file by April 30, 2017.

Harris County:
Application for Residence Homestead Exemption (Fillable)

Application for Residence Homestead Exemption (Print)

Harris County Appraisal District iPhone App

Fort Bend and Brazoria Counties:
Application for Residence Homestead Exemption

Waller County:
Application for Residence Homestead Exemption


Prevent Burst Pipes During a Freeze

Last week many of us were reminded that Houston can get cold and reap havoc on our homes. We are so accustomed to our warm climate; we forget that water pipes have the potential to freeze and burst when the outside temperature reaches 20 °F or below. Numerous homes have pipes that are uninsulated or under insulated. It is very important to protect these pipes for the occasional freeze. Leaving pipes unprotected can cause them to burst, which can result in a tremendous amount of damage to the home and the contents inside.

Pipes that are most susceptible to freeze are usual exposed to the cold, such as:

  • water sprinkler lines
  • outdoor hose bibs
  • swimming pools supply lines
  • water pipes in attics or crawl spaces
  • water pipes in garages
  • water pipes that run against exterior walls that have little or no insulation

When water freezes, it expands, causing pipes to burst. Homeowners can greatly reduce their chances of property damage by preparing water pipes before the temperature drops. Below are a few tips to get you started.

Prepare Prior to Winter

  • Many times, water remains in your garden hose even after you have turned off the water. This water can expand, damage your hose bib and possibly cause the pipes to burst. To prevent this possibility, remove and drain all outdoor hoses and store in a safe place. Close inside valves supplying outdoor hose bibs and protect the bibs with insulated covers. Covers come in a variety of styles. Make sure they’re snug so air can’t reach the tap or pipe. It’s a good idea to leave them on all winter since our weather can change so fast. If you use towels or blankets to cover hose bibs or valves, make sure they’re dry. A wet blanket is like no blanket at all. Tighten them down with zip ties or duct tape and keep them dry with a secure plastic covering.
  • The most common location of burst pipes in Houston are backflow preventers on sprinkler systems. First turn off the supply valve, then the feed valve. Then, turn the relief valves a half turn. Start with the top, then the bottom one, allowing all the water bleed out.
  • Check around the home for other areas where water supply lines are located and are in unheated areas. Hot and cold water supply lines can freeze if the water is not running through the pipe and the water temperature in the pipe is cold. Install products made to insulate water pipes like a “pipe sleeve” or installing UL-listed “heat tape,” “heat cable,” or similar materials on exposed water pipes. When wrapping foam around pipes, make sure there is no air space; air at freezing temperatures leads to burst pipes. After covering pipes with foam, tighten the fit with duct tape and be sure to cover any gaps.

Be Proactive During Cold Weather

  • Keep the garage door closed if there are water lines inside.
  • Open kitchen and bathroom cabinet doors to allow warm air to circulate around the plumbing.
  • Keep the heater at a consistent temperature all day.

Thawing Frozen Pipes

  • If the pipe is frozen, keep the faucet open.
  • Make sure you know where the main water valve is located outside of your home. If a pipe breaks, it will leak when the water thaws. You will need to turn off the main water valve until the leak is repaired.
  • Apply heat to the frozen portion of the pipe. You can use a heating pad, electric hair dryer, portable space heater or wrap pipes with towels soaked in hot water.
  • Apply heat until full water pressure is restored.

Adapted from Texas A&M Agrilife Extention Preventing and Thawing Frozen Pipes.

[/wpcol_2third][wpcol_1third_end id=”” class=”” style=””]All of the service, for less money!


 

 

 

 

LESLIE LERNER PROPERTIES WILL:

  • List Homes $300,000 – $799,999 for $4,500
  • List Homes $800,000 – $1,499,999 for $12,000
  • List Homes $1,500,000 – $1,999,999 for $25,000
  • List Homes above $2,000,000 for $30,000
  • $200,000 – $299,999 for $1.5%
    >>Read More
  • We will rebate 1.5% of the Buyer’s Agent’s Commission if we show you 1 – 3 homes.
  • We will rebate 1% if we show you 4 – 6 homes.
    >>Read More

>>>SEE WHAT PEOPLE ARE SAYING ABOUT LESLIE LERNER PROPERTIES

If you think it is time to buy or sell a home, remember to call Leslie Lerner Properties at 713.489.9900.  Leslie Lerner Properties is the Home of Flat Fee Listings and Rebated Commissions.  A great amount of information can be found at www.LeslieLernerProperties.com.  Leslie Lerner Properties offers all of the service for less money, when buying or selling a home.

 

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