Steve Castaneda's Blog: All Categories

July was quite an interesting month for Lakewood Forest. While the average sales price fell, the average price per square foot of sold homes rose by nearly $3 from June, while the days on market took a nose dive.

$3 doesn't really seem like a wave of change, however when calculated with a 3,000 square foot home this equates to a whopping $9,000.

In July, the average sales price of homes sold was $199,850 among a 14 homes; down from 20 in June. The average price per square foot was peaking $70.12, which is an increase of $2.93 from last months average.

This weeks popular street was Peach Meadow, accounting for 2 out of the 14 sales in July.

Most Expensive Property

This month's most expensive property sold award gets handed to 12403 Pelican Isle…

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I had the pleasure to meet with a prospective client looking to sell their home in the Windfern subdivision, located in Northwest Houston at Beltway 8 and Highway 249.  The research derived from this meeting has lead me to believe that many homeowners in the Windfern subdivision are going to have a hard time moving out of the area for at least another 5 years.

Foreclosures Run Amok

In the past year, there have been six foreclosures with an average price per square foot of $65 that have either sold, expired, or currently active on the market.  The most popular foreclosure street in the area is a street named "Heron Nest", showing 3 foreclosures in the past year.

Foreclosures are bad for for sellers at the end of the day.  These homes are normally…

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I am pleased to announce a new search tool for locating homes for sale in the Houston real estate market (includes Katy, Cypress, Tomball, Pearland, etc.).  Our visitors may now:

• Save searches and manage those searches so that they don't have to keep entering in "minimum 2 bedrooms" over and over again.
• Save properties to a "favorites" list.
• Email your favorites to friends and family.
• Easily map out all properties using Mapquest.
• Easily contact us if you have any questions about properties.
• Schedule tours for any property you'd like.

If you are looking to buy a home in Houston, either through moving up from an older home or relocating to Houston, be sure to stop by and visit our Houston MLS tool. Read Full Post

The Mosaic at Hermann park just can't keep getting better.  Featuring an acre amenity deck which includes fitness, an infinity edge pool, a theater, billiards, and pretty much anything else you can ponder on enjoying on a relaxed Saturday afternoon, the Mosaic has plenty to offer anyone looking to invest in Houston.

Investors Welcome - Rent Out Your Units

I've received word that the Mosaic will have an on-site property management company to handle any of the units you currently own and are looking to rent out.  Who will you be renting to?  Any professional visiting Houston for an extended business trip, medical professionals, downtown businessmen and women; the target is wide open!  What other piece of Houston…

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When buying a new home, the first usual topic of discussion routinely surrounds a client's credit, the financial decisions that have gotten them to this point so far, and what needs to happen to get them to the next step in their life.

Why is credit so important after all?  Don't they know I'm a hard working person and have learned from my mistakes?  Not necessarily.

It's Not Personal

Your mortgage consultant will do their best to make sure that your file is submitted to your qualifying lender in the best light possible.  Upon approval, the lender will send the file to underwriting to be scrutinized by the underwriter.

An underwriter's main job is to ensure that the decision to lend you money is not putting the company at a large enough risk to… Read Full Post

Have you ever wanted to get information on the income, demographics and crime for particular parts of your city?  One great way to get this information is by using our handy tool at MyHomeHouston.com called the City Profile Reports.

This tool will allow you to see in any particular city and state:

• Demographics
• Income and Jobs
• Ethnicity
• Education
• Climate
• Crime
• Residential Sales History

We use this mostly in the Houston real estate market when viewing area crime statistics compared to a state and national level.  It has helped my team better advise our clients on crime in areas of Houston that are known to be less than safe.

If you are thinking about buying a home, performing research prior to meeting with your… Read Full Post

If you are thinking about buying a home, purchasing a townhome or condominium (condo for short) may have crossed your mind.  There are certain features that will separate these two types of properties that are commonly confused between one another.

Townhomes

When owning a townhome, you will usually be responsible for your yard that is usually fenced in in a small patio area.  These types of properties also will share one or two walls depending on location, and will usually not have neighbors above you.

You are responsible for getting insurance on a townhome like a traditional home, however there are some homeowner's associations (HOA) that will take care of a roof replacement should the need ever arise.  Townhomes have been known to be accompanied… Read Full Post

When buying a home, you've probably gotten advice from relatives and friends about ways to save money.  One of these ways is filing exemptions on your property after you obtain ownership.

There are various types of exemptions in the Houston real estate market, such as the general residential, age over 65,  disability and over 65 surviving spouse.  However the most widely used exemption is the general residential exemption, also known as the Homestead exemption.

Don't get confused; the homestead exemption and claiming homestead on your property are two different things.  When you claim homestead on your property, you are claiming to your local taxing authority that this is your primary residence and it cannot be taken from you nor can it be forced to… Read Full Post