Ok- get your mind out of the gutter! Of course the "F" stands for "foreclosures" and in the Houston real estate market, foreclosure properties are becoming more common place. Not to the extent seen in the major foreclosure markets of Nevada, California, Arizona or Florida but pretty widespread all the same. Even in the popular Houston neighborhood of Bellaire there are over a dozen foreclosure and REO properties on the market.
We all recognize the challenges faced by homeowners at risk of foreclosure, and those already involved this gut-wrenching experience. Many homeowners too embarrassed never attempt to call or even talk to their lender, choosing to watch their mailbox fill with notice after notice. If they only knew to pick up the phone and make that call to see just what options are available. And then there is the seedy side of this business where the vultures are circling these individuals looking to swoop down and pretend to offer a solution. As a representative of the real estate industry, I somehow believe we should be doing a far better job protecting the consumer from these low life's. The first step in this solution is to be open, transparent and offer sound education. 
In addition to those homeowners either in the midst of a foreclosure or those teetering on the edge, you find the buyers. Some are equally oportunistic, ready to "low-ball" the equity-starved seller who is trying to avoid foreclosure. Look at the impact of foreclosures on any hyper-local market - its snowball effect can slowly begin to rob a neighborhood of its property values.
Our Houston REALTOR team here at the Zoller Group has decided to meet this challenging and growing reality of foreclosures and short sales head on. As a veteran Houston REALTOR, I was recently reminded of my responsibility to our Houston real estate website visitors, our Houston real estate blog visitors, our customers, and our clients:
Our creditability as real estate professionals demands we skillfully fullfill these responsibilities. To do otherwise places those we work for at legal peril and financial risk.
With a fresh perspective, we launched a new post yesterday at the Fine Homes Houston Community blog on educating consumers about the terms we so flippantly use when talking about foreclosure. You are welcome to visit our Houston Real Estate Blog for a closer look.
Meg and Jim Zoller - The Zoller Group of Keller Williams Realty, The Metropolitan
Please view our Houston Real Estate website
Also, feel free to contact us at:
Direct: 713-661-0884
Toll Free: 800-808-6153
E-mail: Meg@FineHomesHouston.com or Jim@FineHomesHouston.com
Cells: Meg - 713-875-4844
Jim - 713-545-6338
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Posting market reports not only helps home buyers, sellers and other interested parties . . . it also helps me to stay on top of what the market is doing. People want good reliable information from their real estate professionals. I want to do everything I can to provide easily understood information in Houston neighborhoods that I'm most familiar.
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Six Bellaire, Texas homeowners have graciously offered to allow the public to view their individually interesting and unique homes this weekend . . . Saturday and Sunday, April 5th and 6th, 2008, from 1:00 P.M. to 5:00 P.M.each day. The 26th annual Bellaire Home Tour benefits the Nature Discovery Center at Russ Pittman Park.
The homes vary from traditional to contemporary architecture and from older construction to newer construction. The uniqueness of each home will be enjoyed by everyone who takes the opportunity to view these homes.
TICKETS :
$12.00 in advance- picked up at Nature Discovery Center, Magpies, Teas Nursery and Whole Foods.
$15.00 on day of tour - available at each house
For pictures, descriptions and addresses of each of the homes please click here.
There are many events and activities offered throughout the year in Bellaire, Texas. One of my favorites, though, is the Friends of the Library Book Sale. Ever since our daughters were little, Jim and I would take them to the sale and we would all stock up on books to read. It has always been a lot of fun to go through the piles of books and the boxes while we each selected those special books. Since the cost was very low for the books, we could each buy quite a few more books than we would if we went to the book store.
Well, it's that time of year again. The Friends of the Library Book Sale in Bellaire, Texas is this Saturday, March 29, 2008 from 9:00 A.M. to 4:00 P.M. It will be held in the parking lot at 5111 Jessamine in Bellaire.
Great bargains are always found. Paperback books are 50 cents each and hardback books are $1.00 each.
I hope that you can make the sale and stock up with all the books you desire.
Maybe we'll see you there!!!!
Meg and Jim Zoller - The Zoller Group of Keller Williams Realty, The Metropolitan
Please view our website, http://www.finehomeshouston.com/ . Also, feel free to contact us at:
Direct: 713-661-0884
Toll Free: 800-808-6153
E-mail: Meg@FineHomesHouston.com or Jim@FineHomesHouston.com
Cells: Meg - 713-875-4844 Jim - 713-545-6338
According to information provided by The Houston Association of Realtors, there are currently 120 single family homes available for sale in West University Place, a city within Houston, Texas, with asking prices ranging from $257,900 to $3,650,000. While the majority of these luxury homes are of newer construction with a minimum of 4 bedrooms and 3000 sq. ft., there are also smaller homes available with 2 bedrooms that were originally constructed in the 1920's, 30's and 40's, and some properties being sold for lot value.
Sellers sold 14 properties in February of 2008 with prices ranging from $365,000 up to $1,899,000 for an average price of $884,642 or $277.06 per square foot. The average days on market for these properties were 66 days. There were 33 properties in various stages of pending at the close of February as well.
For the month of January 2008 buyers bought 8 properties in West University Place averaging $615,812 or $217.37 per square foot.
ZIP Code: 77005
Approximate Location Boundaries:Kirby Drive to the East, Union Pacific Railway railroad track to the West, Bellaire Boulevard/West Holcombe Boulevard to the South, and Bissonnet and Law Streets to the North.
Location Characteristics: Commonly referred to as West University or West U for short, West University Place was developed by former Tennessee Gov. Ben Hooper. His idea for a community of country homes was conceived in 1910 when Governor Hooper bought a tract of land southwest of Houston out of an old Spanish land grant. The Houston West End Realty Company developed today's West University Place First Addition and put the first lots up for sale on April 1, 1917. The name "West University Place" originated from its proximity to Rice Institute (now known as Rice University). The city of West University Place incorporated in 1924 and adopted a formal city charter in 1940.
There are approximately 26 subdivisions in West University Place to include Rice Court, Pemberton, Colonial Terrace, Sunset Terrace, Cunningham Terrace, Evanston, Matthews Place, Kent Place, Monticello, Virginia Court, Belle Court, College Court Place, Collegeview, Preston Place, Pershing Place, Academy, Quenby Court, Bissonnet Place, Fairhaven, College Park, and Krenzler Courts and some sections simply known as West University Place.
Students who live in West University Place are zoned to West University Elementary, Pershing Middle Schoolin the Braeswood Place neighborhood of Houston, and Lamar High School, in the Upper Kirby district of Houston.
Meg and Jim Zoller - The Zoller Group of Keller Williams Realty, The Metropolitan
Please view our website, http://www.finehomeshouston.com/ . Also, feel free to contact us at:
Direct: 713-661-0884
Toll Free: 800-808-6153
E-mail: Meg@FineHomesHouston.com or Jim@FineHomesHouston.com
Cells: Meg - 713-875-4844 Jim - 713-545-6338
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Providing the ultimate Houston, Texas real estate home buying and selling experience, Meg and Jim Zoller and The Zoller Group love educating buyers and sellers in the fine art of Houston real estate.
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