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Midland, TX Real Estate News

By Virginia Elizondo, Broker Owner, Midland Tx 432-349-7782
(Elizondo Real Estate Brokerage Midland TX )
The Real Estate Center at Texas A&M,http://recenter.tamu.edu/recon/, recently wrote and article about Midland, Texas and it's low inventory of houses for sale.  This morning's inventory count 187 active listings for Midland County.  We have not seen this type of shortage in many years.  Last year around this time we had about 360 properties listed. I remember this time last year 360 listings was considered a shortage. The city has issued more building permits for new homes than any other year. Buyers who are aggressively looking have to act quickly. As Realtors it is like a race to see who gets to show the house first and who can submit their offer the fastest. There are hardly any rentals available. Sellers are getting at least 97% of market value and the the average day on the market ...
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By Virginia Elizondo, Broker Owner, Midland Tx 432-349-7782
(Elizondo Real Estate Brokerage Midland TX )
You hear that the ‘market is good’ in Midland, but what does that really mean? These statistics show how many houses were sold on a monthly basis for 2011. It also illustrates two key indicators of the real estate market, Days on Market and Sold vs. Listing Price Ratio.  Over the course of 2011, listings decreased and the average days on the market ended with 54 days. The Listing vs. Sell Price Ratio illustrates that houses are selling for an average 97% of asking price.  In December, over 50% of the inventory sold. More houses are needed as inventory continues to decrease. Market knowledge is key when you are selling your property. If you have ever thought about upgrading or downsizing and still owe on your current mortgage, the process to sell and buy is not as difficult as you may th...
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By Virginia Elizondo, Broker Owner, Midland Tx 432-349-7782
(Elizondo Real Estate Brokerage Midland TX )
It seems almost everday I turn on the TV and there is news about the unemployment being high everywhere and foreclosures are driving real estate inventory.  Well hold up, not in Midland, Texas that is not at all what is going on right now.  Our economy is strong, unemployment is low,  and the housing market is,  well let me just tell you.  We have a shortage of inventory. with just under 400 active listings, and only a handful of those are foreclosures. For a city of of over 103,000 this is not much inventory.  Currently we have just over two month of inventory on the market. Houses are selling quickly and are in demand. I am sharing this information because I feel blessed to live in a city that is thriving. I remember when I was first told of the possibility of moving to Midland. I tho...
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By Bill Underwood
(Midland 1st Choice - The Underwood Group, LLC)
Midland Texas - Things To Do Did you know that Midland, Texas has a farmers market? Our downtown market has more than heart; it is also slathered in homemade, local honey.  Every Saturday morning our neighbors congregate downtown Midland with their freshest (and sustainable) produce, locally raised meats, baked goods, honey and etcetera in tow to promote our local businesses, producers and artisans; but most of all, to celebrate our community.  For Matthew Hanson, organizer of this community market, Midland Downtown Farmers Market is his child and feels like we all play a part in its fruition.  After a first time visit, I already feel a part of a community I left back in California and that kind of camaraderie is something our youth should experience.  Their goal is to establish a sense...
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By Lisa Buescher, Homes for Sale - Midland Texas
(The Doss Team @ REMAX 1st Choice)
Home Buying Guide - Step by Step1. BUYER AGENT - Hire a Buyer's Agent to assist you and oversee all of the tasks below: 2. THE MORTGAGE LOAN - If you are getting a loan to buy your new home, it is imperative that you PRE-QUALIFY with a Mortgage Company BEFORE you look for a home. Some seller and some markets require that a buyer have a pre-qualification or a pre-approval letter from a reputable mortgage company. Being pre-qualified or pre-approved also gives YOU an estimate of how much money you will be required to pay at closing. Once you make an offer on a home, you may pay an option fee, deposit earnest money, and start paying for your inspections. You may risk losing your option fee and inspection fees if you do not get your loan. PRE-QUALIFY before you BUY! Your Buyer's Agent shoul...
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By Lisa Buescher, Homes for Sale - Midland Texas
(The Doss Team @ REMAX 1st Choice)
MIDLAND CITY/COUNTY HOUSING OVERVIEW Midland Texas, population approx 100,000.  Currently a "seller's market", demand exceeds supply, housing prices have increased approx 20-30% from 2 years ago.HOMES FOR SALE:  Currently 364 residences for sale.1-2 bdr - 17 available, prices range from $30,000 - $225,000.  Avg $106,000.  Avg DOM 283-4 bdr - 330 available, prices range from $25,000 - $975,000.  Avg $223,000.  Avg DOM 475+ bdr - 17 available, prices range from $209,900 - $1,250,000.  Avg $483,000.  Avg DOM 57TH's/Condos - 19 available, prices range from $128,900 - $428,000.  Avg $239,000.  Avg DOM 46Suburban/Country - 30 available, prices range from $79,900 - $975,000.  Avg $295,000.  Avg DOM 81New Construction - 62 available, price range from $128,000 - $489,000.  Avg $264,000.   Avg DO...
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