Welcome 2021!

We are happy to see 2020 in the rear-view mirror and fully acknowledge that families in our community are still navigating through the changes dropped on our doorsteps.  Last year, for many of us, was a mix of learning something new, letting something go, finding our strengths, building relationships, holding those we love a little closer, and balancing all the emotions that come with change. And, there was a lot to celebrate too.

So what will the future look like in this strange new world? Maybe Abraham Lincoln said it best:
 

“The best thing about the future
is that it comes only one day at a time.”

Let’s get started…

Search Homes Here

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We have buyers looking for homes to buy..
Call today and find out what your house is worth in the current market so you can decide if 2021 is your year to make a move!

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“Economic growth is guaranteed from the stimulus package and from vaccine distribution, but high government borrowing will put modest upward pressure on interest rates”

Lawrence Yun, NAR’s chief economist

The National Association of Realtors recently reported: 

“Lawrence Yun, NAR’s chief economist, predicts a favorable outlook for the housing market in the coming year. According to his 2021 projections, there will be a slight upward rise in mortgage rates to around 3% from the current 2.7% rate. Existing-home sales are expected to increase roughly 10% and new home sales by 20% next year.”

That prediction compiles national data from all states; Texas numbers may be different.

Real estate is hyper-local. We see differences from city to city, neighborhood to neighborhood, and even among price points. For example, single-family homes in the $325,000 – $350,000 price range might sell quicker than homes priced at $750,000 and higher. A single-family home in Spring, Texas, may fetch a different price than a similar home in Houston or Katy. We also see different amenities and lifestyle options, depending on the location. 

Real estate is hyper-personal. You may prefer the suburbs with more square footage and a larger lot size, or you might choose city life in the heart of downtown Houston or something in between. 

Real estate is a tool for wealth. You may consider real estate a stable way to build wealth and wonder if now is still a good time to buy. 

Each family we work with has their own goals and needs when it comes to where they will live, work, play, shelter, and learn (and we hope to experience less sheltering and more playing in 2021!).

This is why we pay attention. First, we pay close attention during our consultation, and we will continue to ask questions as we work together so you will be successful. We also pay close attention to the national market and the local market, so we can help you spot the best homes and investments and  be aware of trends.

Next, let’s look at our local market…

Click here to set up your 2021 Home Strategy Call

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Let’s look a little closer at zip code 77494, which covers Katy and Cinco Ranch.
 
You can see from the following graphics:
  • The number of home sales in 2020 outpaced all prior years (2015-2020).
  • Home prices are trending up, even with all the non-housing challenges we experienced in 2020.
  • The number of homes available for sale is down.

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What does this mean for you?

Homes Sales are Up: This tells us people want to buy, invest, and live in Texas. I can’t blame them! Not only is the greater Houston area a perfect place to live, work, and play, but historically low interest rates are as close to “free money” that we’ve seen in a long time, perhaps ever!

Here’s what I mean. A loan amortization schedule shows how much interest you pay over the life of a loan. Consider the following scenario for a home purchased for $350,000 with 5% down. The resulting loan amount is $332,500 and how much you ultimately invest in that home is dependent on your interest rate.

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Resource: https://www.bankrate.com/calculators/mortgages/amortization-calculator.aspx

An eye-opener is the jump you see in total interest paid when your rate increases by just a point or two. Then, and this is where it gets exciting, no matter what your interest rate is, you can control your long-term investment by making even small additional payments to principal each month. 

You are in control! It may be possible for you to make a move, get into the home of your dreams, or begin investing because today’s interest rates allow you to make a more significant impact with your dollars. In some cases, my clients are paying equal to, slightly higher than, and even a little less than their current housing/rent payments once they purchase.

Plus, we have buying resources that may allow you to save on closing costs too. Just ask, and we’ll see if you qualify.

Home Prices are Trending Up: This is important. If you are concerned that the market is too hot, our long-term price trends for Katy and Cinco Ranch show where prices are heading. Couple that with favorable interest rates, and we have a win.

Also, you may remember from a previous update that we talked about rental rates. NAR predicts an increase. Keep this in mind if you are currently renting and want to lock down your monthly housing payments. Investors benefit too. You can fix your costs while enjoying rising rents.

Inventory is Low: Rock bottom low inventory is what we are looking at right now. If you are curious about selling your house, let’s talk about your options. We have buyers looking at all price points, and homes priced at $500,000 and above saw the largest sales price increases when comparing 2019 to 2020.

We are here to help you navigate 2021 and beyond. Set up your private consultation and let’s get started.

Click here to set up your 2021 Home Strategy Call

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27011 Cliff Pointe Lane, Katy, TX
Single story home with a community pool
$395,000

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Click here to see more pictures and home details

3802 Nottingham Bluff Lane, Katy, Texas
Luxury home in Avalon at Pine Mill
$875,000

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Click here to see more pictures and home details

25307 Terrain Park Drive, Spring, TX
Four bedroom home in Breckenridge Forest North
$279,500 or Lease for $2500/month

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Click here to see more pictures and home details

LAND: 0 Marcella Drive, Houston, TX
Residential / Commercial with no restrictions
$385,000

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Click to Inquire

LAND: 0 Janisch Road, Houston, TX
Great location between Yale & N. Shepherd, just south of Tidwell
$365,000

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Click to Inquire

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1631 Maryvale Drive, Katy, TX
CLOSED in December: Represented Buyer

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6606 Toledo Street, Houston, TX
CLOSED in December: Represented Buyer

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1310 Maple Ace Drive, Katy, TX
CLOSED in December: Represented Buyer

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Tracy Gremillion Property Group
Top 1% in Greater Houston Area
Tracy leads a team of dedicated professionals who help buyers, sellers and investors in the Greater Houston area. They are local experts with extensive training to ensure their clients get the absolute best results in negotiations.  How can we assist you? Let’s chat!

Tracy Gremillion
Direct: 281-723-9890
Email: TracyGremillion@kw.com

Click Here to download my app

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The Gremillion Group
Keller Williams Houston Premier
22762 Westheimer Parkway, Ste 420
Katy, TX  77450

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Email: TracyGremillion@KW.com

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