SEPTEMBER 2020
RE/MAX Integrity | 19510 Kuykendahl Road Spring, TX 77379 | 281-370-5100
REAL ESTATE
Auburn Lakes www.AuburnLakesLiving.com
MARKET REPORT
713-557-7095
REALTORS® and NEIGHBORS
COMPARING 2020 TO 2008
ARE THEY DIFFERENT?
COVID-19 has had a large effect on the economy – so much so that you might have heard talks of our country entering another recession. Due to the severity of the 2008 financial crisis and the ensuing recession, the term stirs up a lot of emotions for many, especially when it comes to the real estate market.
Inventory and Appreciation
Annual Home Price Appreciation
In the years leading up to the housing market crash, home price appreciation (the increase in value of houses) was out of control. Homes simply became too expensive for buyers to afford, which became a contributing factor to the crash. The price of homes is still high today, but it’s risen at a more stable level. Inventory is at a low in most markets, causing a surge in demand.
Then...
Source: Freddie Mac
Source: Black Knight
11.4%
8.5% 8.7%
8.6% 6.5%
4.4%
The 6 Years Leading up to The Housing Crash 2000
2001
2002 2003
2004
2005
5.2% 5.5%
6.4% 4.8% 4.7%
The Last 6 Years 2014
2015
2016 2017
2018
2019
PREPARED ESPECIALLY FOR
Johnathan and Angela-Marie Williams
Use of Home Equity
Total Home Equity Cashed Out by Refinance in Billions
12.5%
Now...
Year
Dollars
Year
Dollars
2005
$263B
2017
$71B
2006
$321B
2018
$87B
2007
$240B
2019
$89B
Total
$824B
Total
$247B
Prior to the housing crisis, many homeowners were using cash-out refinances to supplement their cash flow, meaning they were tapping into their home’s equity as soon as it built up enough rather than letting it grow and build their overall wealth. This put many homeowners in a negative equity position when the housing bubble burst; they owed more on their home than it was actually worth.
Johnathan and Angela-Marie, Now is a great time to sell your home! Interest rates are still extremely low, and we employ a number of ways to keep the selling process safe. If you’re ready to talk about these unique opportunities, call us today at 713-557-7095. Source: www.watersongmortgage.com
PRESENTED BY
MARKET REPORT
Auburn Lakes | Auburn Lakes estates
Call Us Today: 713-557-7095
REALTORS® and NEIGHBORS Sold@RubenandNancy.com www.AuburnLakesLiving.com
Homes are still being bought and sold in the midst of this pandemic. If you need to sell your house and would like to know the current status in your local market, contact Nancy Villarreal to create a safe and effective plan that works for you and your family. 713-557-7095 | Sold@RubenandNancy.com
Published by REAL Marketing (REM) | www.REALMarketing4You.com | 858.952.4280 | ©2020
Auburn Lakes | Auburn Lakes Estates | Current Market Activity Active
Pending
Sold
A visual representation of the MLS data on the right page.
HOMES CURRENTLY LISTED IN YOUR AREA STATUS
STREET NAME
EST. SQ. FT. *
BEDS
BATHS
LIST PRICE
LIST MONTH
Active Active
Thorton Knolls Drive Green Gable Manor
4,000 5,800
4 4
4.1 4.2
$725,000 $1,195,000
November July
Auburn Lakes Estates Auburn Lakes Estates
SUBDIVISION
Active
Brock Meadow Drive
3,100
4
2.1
$332,500
May
Auburn Lakes Reserve
HOMES CURRENTLY PENDING IN YOUR AREA STATUS
STREET NAME
EST. SQ. FT. *
BEDS
BATHS
LIST PRICE
LIST MONTH
Pending
Auburn Bend Drive
3,200
4
3.1
$345,000
July
Auburn Lakes Estates
SUBDIVISION
Pending
Genesse Valley Drive
4,300
4
3.1
$550,000
July
Auburn Lakes Estates
Pending
Lawson Knoll Drive
3,500
4
3.1
$468,000
May
Auburn Lakes Reserve
HOMES SOLD SINCE JUNE 1ST, 2020 STATUS STREET NAME
© 2020 Google
Do you know your home’s true value? Receive the most accurate assessment of your home’s value, provided to you as a complimentary service by Ruben & Nancy. Visit online today at:
www.AuburnLakesLiving.com
EST. SQ. FT. *
BEDS
BATHS
LIST PRICE
SOLD PRICE
Sold Sold
Antique Cedar Lane Brock Meadow Drive
4,400 3,100
5 4
4.1 3.0
$625,000 $330,000
$627,500 $321,000
SOLD MONTH SUBDIVISION July June
Auburn Lakes Estates Auburn Lakes Reserve
Sold Sold
Nichilo Drive Northcrest Drive
3,600 4,200
4 4
3.1 3.1
$419,900 $489,000
$415,000 $468,000
July July
Auburn Lakes Reserve Auburn Lakes Reserve
Sold Sold
Carrick Bend Drive Carrick Bend Drive
3,100 4,300
4 4
3.0 3.1
$450,000 $460,000
$442,875 $450,000
June June
Auburn Lakes Retreat Auburn Lakes Retreat
Sold Sold
Firebrook Court Firebrook Court
4,200 4,200
5 4
4.0 3.1
$500,000 $540,000
$505,000 $540,000
June July
Auburn Lakes Retreat Auburn Lakes Retreat
Sold Sold
Summer Chase Drive Auburn Mills Drive
4,100 4,600
5 4
3.1 3.1
$550,000 $559,000
$545,000 $545,000
July June
Auburn Lakes Retreat Auburn Lakes Retreat
Ruben & Nancy Villarreal, The Villarreal Team, and RE/MAX Integrity are not in any way affiliated with Auburn Lakes Owners Association, nor is this in any way an official advertisement or publication of Auburn Lakes. © 2020 All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the HARMLS between June 1st, 2020 and August 15th, 2020. Listings and sales may not be those of RE/MAX Integrity. The HARMLS does not guarantee the accuracy of this data, which may not reflect all the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. *Estimated square feet rounded down to nearest hundred.
Auburn Lakes | Auburn Lakes Estates | Current Market Statistics AVG. ACTIVE LIST PRICE
$750,833
AVG. SOLD PRICE
$485,938
10
99%
35
Total Homes Sold
Avg. SP/LP Ratio
Avg. Days on Market