Tiffany Dalton

Okay...here are the numbers for the first two weeks in November in Montgomery County Texas. With the holidays approaching the real estate market is doing what it normally does, which is decline the last 2 months of the year. However, this year, pending and solds are down an average of 25% from last year. Take a look

10/1-10/15/2008 - 163 Sold, 216 Pending Contracts

11/1-11/15/2008 - 131 Sold, 201 Pending Contracts

10/1-10/15/2007 - 216 Sold, 259 Pending Contracts

11/1-11/15/2007 - 220 Sold, 246 Pending Contracts

Sorry this information is behind, I have another blog that I post to and I forgot to post this message to this blog last month. Updated market stats coming in the next couple of days.

These numbers are only for Montgomery County

Previous Year - Sold 6,171 Average Price $244,653

This Year - Active 3,485 Average Price $338,799

We currently have 6.8 months of inventory

• Months of Inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity

If you have been in the market for a home in the last few months waiting for the bottom...you are here. Unfortunately for the average home buyer, they are paying too much attention to the media and the stock market and have put off buying a home until things turn around...and home prices rise. Home sales have declined slightly this month from September by 18%. HOWEVER, home pending status has jumped from 121 pending contracts in September to a whopping 553 pending contracts in October! Buyers are taking advantage of the good deals out there right now while we are in this financial crisis. This is great news for future home sellers in Montgomery County areas like Conroe, Montgomery, The Woodlands and Willis that are thinking of selling in the Spring. Interest rates are low, buyers are buying and by early next year, we should see a turnaround in the market, a lower saturation of foreclosures and short sales, and HIGHER home prices.

Ike has come and gone, now it's time to sit and wait. I am very concerned with our neighbors south of us in Galveston, Clear Lake and Houston. I hope they all stay safe and dry. Although, some of us have experienced damage to our homes in one way or another, thankfully, we do not feel the drastic affects here in The Woodlands, Lake Conroe and North Houston areas as our neighbors do. The city of Conroe has been very helpful in cleaning up our streets. Branches and trees had were picked up by the city early Saturday and everyone has been quick to respond to our needs in our area. Power is not up yet, but thankfully we are not powered by Houston's large, Centerpoint Energy. Our power company is Entergy, and is located here in Conroe. They power only 350,000 residents in and around The Woodlands, Magnolia, Montgomery and Conroe, so power is expected to be on much sooner than others. Although the 20,000 acre Lake Conroe is in our backyard, we are on higher ground than other parts of the Houston area and are fortunately not seeing flooding or standing water. Magnolia TX is a little lower to sea level and may experience some standing water, however, no boats are needed here to get to their homes. I will keep you updated on what is happening here in the Montgomery County for those of you outside the area.

Be safe...my prayers are with you all!

BuisnessWeek named Houston, TX as one of the most robust zip codes in today's market. Saying that Texas economy is booming due to high energy prices. Not to mention all the jobs available in the Houston area. It's no wonder homes are selling faster than other parts of the country. For months now, the media has put a negative impact on the real estate market across the country, driving it down...WHY? TO SELL MORE NEWSPAPERS, MAGAZINES, etc.! More news sells when it is negative. Yes the market is down here due to foreclosures driving prices down, but homes are selling because of the Texas economy. Unfortunately the bad markets are those with declining prices and a bad economy, hand in hand means bad real estate markets. The home sellers and home buyers not listening to the media are doing very well here in Texas. Prices here are slightly down from last year with a number of foreclosures and investors are getting great property, dirt cheap and move up buyers are selling for a bit less than they would last year, but are getting great deals on a larger or more expensive home that they couldn't otherwise afford before now.

Investors do not want the public to know about the market here in the North Houston areas. They just hope that the majority will continue to listen to the negative media so they can take advantage of the good deals without the competition. I have notified my buyer prospects/investors to buy in the Houston area RIGHT NOW, primarily Lake Conroe and The Woodlands areas north of Houston Metroplotian. Some will take advantage and others won't react at all because they think prices will drop even further...or worse, they feel it is too risky because of what they hear on TV rather than basing a decision on the facts. The ones that won't react will be the ones who "Miss the Boat", because usually those folks are the ones that wait and wait for the bottom of the market, just to find that it was missed. You just won't ever know when you are at the bottom of the market...you just pull the trigger and "buy up" when it's down and there's some money to be made!