An Early Look a February Numbers The Woodlands, Texas

Posted on February 26, 2019 by Scott Culberson

As February winds down we can start to look at how the numbers are shaking out here in The Woodlands, Texas. Listing inventory is up this year with 281 listings versus last year’s 253 listings. Contracts written in January were 65 this year with 68 last year. So what type of market is The Woodlands, Texas in right now? First let’s set the stage based off what real estate economist believe:

Less than six-month of For Sale Inventory= Seller’s market

Six Month Supply of For Sale Inventory=Balanced market

More than six-month of For Sale Inventory= Buyer’s market

Looking at all of The Woodlands the months of inventory is sitting at 4.5, so a seller’s market. If you look at the price range $0-$500,000 you are looking at a seller’s market. $501,000 and up is a buyer’s market. Now that changes if we look at individual areas of The Woodlands or we look at it by sales price. Real estate is local so while looking at these numbers can give some insight it is best to look specifically in your price range in your neighborhood.

Where can you get that information? I’m glad you asked. Shoot me an email at Scott@ScottCulberson.com. I would love the opportunity to help you to…

Live Life to the Fullest!!!

I am Scott Culberson, Broker Associate with Better Homes and Gardens Gary Greene

How credit scores are calculated

Posted on September 10, 2018 by Scott Culberson

home on a stack of cash

Today we have guest content provided Michael Timmons, NMLS# 894265, Mortgage Officer with Gibraltar Mortgage Services.

When you check your credit score, you get a number, usually between 500 and 800. But what does that number mean? What is weighed to come up with that number? Here are some facts about how your credit score is calculated.

There are 5 factors that are used to come up with the number you know as your credit score. 35%-Payment History, 30%-How Much you Owe, 15%-Length of Credit History, 10%-New Credit, 10%- Credit Mix.
Payment history is a heavy hitter here! Demonstrating on time payments is critical for good and above average credit scores. Multiple late payments especially in reference to a mortgage loan, can be extremely hard to fix down the line. That is why on time payments are so important.
The amount you owe is also a heavy hitter. Did you know: when it comes to revolving credit (aka credit cards), your balance to limit ratio shouldn’t be more than 30%. When you allow the balance to go over that 30%, your score will be affected! Low balances=better credit scores.
Length of credit history is sometimes something you cannot help, so it is weighed less than the first two. Young credit isn’t necessarily bad, it’s just young! Someone who is older and has lots of history can be approved quickly. Whereas younger credit, may require a co-signer or guarantor.
When it comes to new credit, the amount of new accounts opened is being referenced. Sometimes, multiple new accounts in a short period of time could be viewed as a risk! That is why it comes into play here.
Credit mix means just that. Having a well-rounded credit report means having a bit of everything. Revolving credit, installment loans, a mortgage, line of credit, all of these would be a part of a well-rounded credit report. Showing creditors that you are able to handle all kinds of credit is important to proving that you will present minimal risk.

In conclusion, your credit score is important in 2018! And building good credit is a lot easier and faster than fixing bad credit. Understanding why this number matters and what goes into creating your credit score is the key to making sure you are able to borrow what you want (and sometimes need) without issue.

A big thank you to our guest contributor Michael Timmons, NMLS# 894265 Mortgage Officer, Gibraltar Mortgage Services. Give Michael a call if you have Mortgage questions at 281-364-7879 or email him at MTimmons@Gibraltarlending.com.

I look forward to helping you to… LIVE LIFE TO THE FULLEST, Scott Culberson, Broker Associate, Better Homes and Gardens Real Estate Gary Greene, SCOTT@SCOTTCULBERSON.com, 281-467-4691

July 2018 The Woodlands, TX Recap

Posted on August 8, 2018 by Scott Culberson

Speaking of real estate in The Woodlands, Texas 213 homes went under contract in July which was down 17.4% against last year. Listing inventory for July was 870 which was down 13.6% against last year. Here are some more notes as of May 6^th:

There are 830 active listings to choose from. $169,00 to $7,000,000.
There are only four properties for sale below $200,000.
For Sale listing inventory is down 13% compared to last year’s selection at this time. This is positive news for sellers, less inventory means less competition between sellers.
For buyers, less inventory means less selection and more competition between home buyers for prime properties.
Average Days on Market for August active listings is 73 Days on Market. Up 5 days compared to July Days on Market.
The Average Active List Price = $775,150
The Median Active List Price = $489,000
The Average List Price of properties placed Under Contract in July = $479,600
The Median List Price of properties placed Under Contract in July = $400,000
Important! Of the 213 sales in June 52.6% sold in 31 days or less. 112/213
Average Days on Market for listings placed Under Contract in April = 44 Days on Market.
Overall in The Woodlands across all price ranges there is 5.3 Months of supply which is a seller’s market.
We expect steady showing appointment activity and Open House traffic through August.

If you would like more information about buying, selling or renting real estate Email me at: SCOTT@SCOTTCULBERSON.com. I look forward to helping you to… LIVE LIFE TO THE FULLEST Scott Culberson, Broker Associate, Better Homes and Gardens Real Estate Gary Greene

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