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

[wpcol_2third id=”” class=”” style=””]MAY NEWS YOU CAN USE
Housing Stats ∙ Memorial Day Sales Tax Holiday

HOUSTON REAL ESTATE MARKET IS HEALTHY DESPITE ENERGY INDUSTRY

The Houston housing market is not as strong as it was a year ago, but market conditions are considered to be more sustainable.

On a year-over-year basis, single-family homes sales, average price and total dollar volume were down slightly in April, while inventory levels grew. Single-famly home sales declined 0.6 percent versus April 2015. On a year-to-year basis, home sales are 1.6 percent ahead of last year’s pace, which could be due to to increasing from a 2.9 months supply of inventory to 3.6 months.

April sales of all property types in Houston was down 2.0 percent from the same month last year.

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

  • Single-family home sales declined a fractional 0.6 percent compared to last April;
  • Single-family home sales broken out by price range:
    • $1 – $79,999: decreased 12.8 percent
    • $80,000 – $149,999: decreased 19.3 percent
    • $150,000 – $249,999: increased 7.8 percent
    • $250,000 – $499,999: decreased 2.1 percent
    • $500,000 and above: decreased 15.7 percent
  • On a year-to-date basis, single-family home sales are up 1.6 percent;
  • Total property sales declined 2.0 percent to 7,583 units;
  • Total dollar volume fell 1.6 percent to $2.01 billion;
  • Single-family homes months of inventory climbed to a 3.6-months supply versus 2.9 months a year earlier;
  • Days on Market for single-family homes edged up to 55 days versus 51 in 2015;
  • Townhome/condominium sales fell 12.6 percent with the average price up 4.1 percent;
  • Leases of single-family homes leapt 18.1 percent with rents up 2.6 percent to $1,811;
  • Leases of townhomes/condominiums soared 26.0 percent with rents down 1.7 percent to $1,574.

>>>Read the entire release.

Energy Star Sales Tax Holiday Memorial Day Weekend

Are you looking to buy a new refrigerator, dishwasher or items for your home? If you wait a couple of weeks you can take advantage of the Energy Star Sales Tax Holiday during Memorial Day weekend. Many retailers also have sales during this time.

During Memorial Day weekend, Saturday, May 28th – Monday, May 30th, Texas shoppers get to avoid paying state and local sales and use taxes on purchases of certain energy efficient products.

The 2016 Energy Star sales tax holiday begins at 12:01 AM Saturday, May 28th (just after midnight) and ends at 11:59 PM on Memorial Day, May 30th.

The products that qualify for the tax exemption are:

  • Air conditioners priced at $6,000 or less
  • Refrigerators priced at $2,000 or less
  • Ceiling fans
  • Incandescent and fluorescent light bulbs
  • Clothes washers
  • Dishwashers
  • Dehumidifiers

Qualifying products will display the ENERGY STAR logo, which may appear on the appliance, the packaging or the Energy Guide label. There is no limit on the number of qualifying items one can purchase during this sales tax holiday, and an exemption certificate is not required.

Internet and Catalog Sales
The tax free holiday also applies to internet and catalog sales of eligible products, provided that the item is paid for and delivered to the purchaser during the exemption period; or the purchaser orders and pays for the item and the retailer accepts the order during the exemption period for immediate shipment, even if delivery is made after the exemption period. An order is considered “for immediate shipment” even if delivery or shipment is delayed because of a backlog of orders or because an item is temporarily out of stock or on back order by the seller.

Delivery Charges

Delivery, shipping, handling or transportation charges connected to the sale of a qualifying item purchased tax free during the sales tax holiday also qualify for the exemption. Such charges are included as part of the sales price of qualifying products sold during the holiday whether separately stated or not.

Installation Charges

Charges for installation of qualifying items purchased during the sales tax holiday may qualify for exemption depending on whether the items are permanently attached to or installed in real property and whether the realty is residential or nonresidential.

Items that are free-standing or mobile, such as clothes washers, dehumidifiers, refrigerators, portable dishwashers and window or room air conditioning units are tangible personal property. If an item retains its identity as tangible personal property after installation, then installation charges billed by the seller of the item also qualify for the sales tax holiday exemption – even if the installation is performed after the holiday period is concluded.

Items such as central air conditioning units, ceiling fans and built-in refrigerators and dishwashers that are plumbed, wired or otherwise permanently attached to a building structure are improvements to real property. For items that are incorporated into realty, the taxability of the installation labor is determined by the type of jobsite.

For more information visit the Texas Comptroller’s website.
 

[/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 – $1,999,999 for $12,000
  • List Homes above $2,000,000 for $25,000
  • $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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