About Humble's Summerwood

Summerwood, in the Humble area, is a 1500-acre community with easy access to Beltway 8. Miles of greenbelt trails, more than 200 acres of recreation & nature reserves - there is something to offer every resident of Summerwood. This market report will give you an idea of what is current in the home market in Summerwood.

• There are 98 current listings. Of those listings, 2 are foreclosures and 5 are short sales. The average listing price per square foot is $83.83. The average days on market is 106.
• There are 15 pending sales currently. Of those pending sales, 1 is a foreclosure. The average days on market is 127. When these homes change status to sold, we'll be able to incorporate solid comparison numbers.
• There were 20 homes sold in October 09. Of these sales, 3 were foreclosures. The average sales price per square foot was $79.76. That is 95.1% of listing price of those homes. The average days on market was 101.

Susan Brown, Your Texas Connection sells real estate in Walden on Lake Houston, Eagle Springs, Summerwood, Atascocita, TX, Kingwood Greens, Royal Shores & Kingwood, TX - just to name a few! Susan's the team leader for Your Texas Connection at Keller Williams Realty NE. Visit their website for more in depth info about the team and what they can do for you. Or call Susan direct (281) 415-1454 if you'd like her to start working on your behalf today!

Summerwood, in the Humble area, is a 1500-acre community with easy access to Beltway 8. Miles of greenbelt trails, more than 200 acres of recreation & nature reserves - there is something to offer every resident of Summerwood. This market report will give you an overview of the home market in Summerwood.

This Market Report for Summerwood includes the past ten years, as well as approximately 10 months of 2009. I've included the number of sales, both the average & median sales prices, and the percentage of change in these figures. The average sales price per square foot is also available for those who like to get a ball park idea of their home's value - keeping in mind a lot of factors go into determining the actual listing price of a home. Call (281) 415-1454 or email Susan@YourTexasConnection.com anytime for a free custom Market Analysis of your property.

Susan Brown, Your Texas Connection sells real estate in Walden on Lake Houston, Eagle Springs, Summerwood, Atascocita, TX, Kingwood Greens, Royal Shores & Kingwood, TX - just to name a few! Susan's the team leader for Your Texas Connection at Keller Williams Realty NE. Visit their website for more in depth info about the team and what they can do for you. Or call Susan direct (281) 415-1454 if you'd like her to start working on your behalf today!

Summerwood, in the Humble area, is a 1500-acre community with easy access to Beltway 8. Miles of greenbelt trails, more than 200 acres of recreation & nature reserves - there is something to offer every resident of Summerwood. This market report will give you an idea of what is current in the home market in Summerwood.

• There are 101 current listings. Of those listings, 3 are foreclosures and 4 are short sales. The average listing price per square foot is $84.29. The average days on market is 110.
• There are 22 pending sales currently. Of those pending sales, 2 are foreclosures and 1 is a short sale. The average days on market is 109. When these homes change status to sold, we'll be able to incorporate solid comparison numbers.
• There were 11 homes sold in September 09. None of these sales were foreclosures or short sales. The average sales price per square foot was $76.06. That is 95.5% of listing price of those homes. The average days on market was 113.

Susan Brown, Your Texas Connection sells real estate in Walden on Lake Houston, Eagle Springs, Summerwood, Atascocita, TX, Kingwood Greens, Royal Shores & Kingwood, TX - just to name a few! Susan's the team leader for Your Texas Connection at Keller Williams Realty NE. Visit their website for more in depth info about the team and what they can do for you. Or call Susan direct (281) 415-1454 if you'd like her to start working on your behalf today!

Summerwood in the Humble area, is a 1500-acre community with easy access to Beltway 8. Miles of greenbelt trails, more than 200 acres of recreation & nature reserves - there is something to offer every resident of Summerwood. This market report will give you an idea of what is current in the home market in Summerwood.

• There are 98 current listings. Of those listings, 2 are foreclosures and 1 is a short sale. The average listing price per square foot is $84.36. The average days on market is 111.
• There are 24 pending sales currently. Of those pending sales, 2 are foreclosures and 1 is a short sale. The average days on market is 87. When these homes change status to sold, we'll be able to incorporate solid comparison numbers.
• There were 17 homes sold in August 09. Of these sales, 4 were foreclosures. The average sales price per square foot was $76.58. That is 96.7% of listing price of those homes. The average days on market was 83.

Susan Brown, Your Texas Connection sells real estate in Walden on Lake Houston, Eagle Springs, Summerwood, Atascocita, TX, Kingwood Greens, Royal Shores & Kingwood, TX - just to name a few! Susan's the team leader for Your Texas Connection at Keller Williams Realty NE. Visit their website for more in depth info about the team and what they can do for you. Or call Susan direct (281) 415-1454 if you'd like her to start working on your behalf today!

Do you think it's time for the real estate investor to help?? Have you read "How to Overcome the Top 5 Traps in Short Sales"?

Ouch! The Government Accountability Office, along with the Congressional Oversight Panel for Economic Stabilization, blasted the Treasury Department's management of the $700 billion TARP program. The 38 page document noted that "Treasury cannot simply trust that the financial institutions will act in the desired ways; it must verify." The report further commented that the Treasury had "administrated the TARP without seeking to monitor the use of funds provided to specific financial institutions."

And other eyes were on Capitol Hill today as the Big 3 Automakers got a lot closer to sealing a $15 billion bailout package. The package will lead to the creation of a "Car Czar" to oversee the loan grant, in order to avoid the "take the money and hoard it" approach that many banks have taken after receiving their bailout.

But several Senate Republicans were outraged, with Sen. David Vittner of Louisiana called the approach "ass backwards" and promising to filibuster it.

More money is headed out the window to the morons at AIG, the folks who 'partied' it up at the St. Regis and seem to have no ability to control their spending. The Wall Street Journal reported that the insurance conglomerate owes other Wall Street firms about $10 billion for because of speculative investments that didn't pan out.

Gross Income Multiplier

Short sale investors are a different set; they take action when others are too cowardly to act. They remain informed while others rely upon others for information and perhaps most telling of all...they crunch numbers. Last week we examined how to calculate the Cap rate of a property in order to determine the price of an income producing property. Although the Cap rate is a favorite among many bankers and brokers alike, another widely used formula is the Gross Income Multiplier.

To calculate the Gross Income Multiplier you will need to divide the asking price or market value of the property by the current gross rental income (or potential rental). For example, let's assume a home is listed for $150,000 with an annual rental income of $10,000. The Gross Income Multiplier would = 15. The higher the better. To provide some perspective, it may be useful to draw examples from other industries and areas. For example, if you were purchasing a publishing concern then you (and the banker) would expect to see earnings worth

5 to 10 time the pre-tax earnings on an annualized basis whereas insurance agencies sell for 150 percent of annual commissions.

Using the GIM provides an excellent method to compare the asking price with industry norms or as a potential negotiation tool when making an offer for a short sale property. It is a good idea to use conservative numbers when calculating the GIM since it does not take extraneous expenses or future tax and insurance rate hikes into account. Repairs, utilities and other considerations may wreck havoc on even the most robust calculations so it isn't a good idea to use the GIM when dealing with older properties or those in need of extensive renovations and/or repairs.

To continue to find out about what's going on at Capital Hill and how it may affect you as a realtor or investor sign up for our free ebook and receive constant daily updates. The ebook: How to Overcome the Top 5 Traps in Short Sales Investing is FREE!! http://humblehomz-re-solutions.com/shortsale.aspx