Pearland Housing Market
The other day I was reading an article, "Economic Armegeddon Weighs on Area Property Sales,"put out by the Houston Association of Realtors (HAR). It stated that property sales in February fell "a whopping 26 percent compared to the same period last year." The article also stated that the sales of foreclosed properties, which usually sell well below market value, made up 28 percent of all sales and dragged down both average and median prices.
Furthermore, the article grimly forcated that we would see more of the same in March with pending sales and active listings way down from months prior: "Though there are bargains to be had, with 401ks diminishing and more layoffs looming, potential home buyers are content to sit back and wait for the smoke to clear."
While I understand this market analysis was taking into consideration the entire Houston area housing market, I am happy to say that this doesn't apply to Pearland real estate. In fact, I have seen an increase of buyers entering the Pearland housing market since January.
I can contribute this increase in part to the New Homebuyer Tax Credit. If you are not familiar with it, the tax credit, it stipulates that if you are a first time homebuyer and you place a contract on a house by April 30th and close by June 30th, you will receive an $8,000 tax credit. Likewise, if you have bought your first house within the last five years and buy a second house by the above deadlines, you will receive up to $6,500 tax credit.
From my personal experience over the last couple of months, Pearland Housing Market is strong right now!! Myself and other agents in my office have been extremely busy showing houses to potential buyers. As of today there are 270 pending sales on homes in Pearland! There have been 291 homes that have SOLD and closed since January 1st 2010!
If you are considering entering the Pearland housing marketand take advantage of the tax credit, its not too late! Please contact me for a personalized Pearland real estate search to suit your needs!
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Whether you are buying or selling Real Estate in Pearland Texas it just makes sense to use a Realtor® that knows the area! I live here, work here and play here - I call Pearland Texas home! For more information regarding Pearland Texas be sure to visit my website:
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