Declining property sales tempered by strong single-family home average and median pricing prevailed across the greater Houston area for the eleventh consecutive month in July, according to statistics released mid-August by the Houston Association of Realtors. Sales of single-family homes slid 12.0 percent on a year over year basis – a smaller decline than the market has experienced in the past two months.

The average price of a single-family home rose by 8.0 percent in July to $226,072, second only to last month's all-time record high of $227,274. The figure represents the biggest jump in average price since June 2006. The median price of a single-family home rose 3.4 percent last month to $161,370, surpassing its previous high of $160,000 in June 2007. Last month HAR reported a record median single-family home sale price of $162,000 for June 2008, however the revised figure for that month is $160,800. The median price is the figure at which half of the homes sold for more and half sold for less.

Sales of all property types for July 2008 totaled 7,052, reflecting a 12.7 percent drop compared to July 2007. Total dollar volume for properties sold during the month was $1.5 billion versus $1.6 billion one year earlier, a 6.7 percent decline.

"As we approach the one-year mark from when property sales began to slow, we continue to note positive signs in the form of strong pricing and stabilizing inventory," said Michael Levitin, HAR chairman. "Consumers from across the country and around the world are setting their sights on Houston, Texas as an extremely desirable place to buy a home during these challenging economic times."

Source: Houston Association of Realtors Multiple Listing Service

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1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you'll be able to make repairs before open houses begin.

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don't plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Spruce up the curb appeal. Pretend you're a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?

Source: National Association of Realtors

A new approach to home design is taking root across the country, emphasizing quality over quantity in home construction and remodeling. It calls for homes to be constructed in an environmentally responsible way, slowly and thoughtfully.

The "slow home" movement takes its name from the "slow food" movement, a response and alternative to "fast food" trends. While fast food restaurants generally offer unhealthy and short-sighted dietary options, the "slow food" movement seeks to offer more thoughtfully prepared alternatives. Similarly, "slow home" advocates emphasize careful consideration of environmental impacts, energy requirements, and other long-term implications in home building, as opposed to fast-paced, cookie-cutter home design and building.

John Brown, founder of the year-old "slow home" movement and a registered architect, real estate broker, and professor of architecture, launched its site, www.theslowhome.com, to provide information on and exposure for the movement. By September, he plans to have a slow home guide to buying real estate on the site.

Brown's guide will include a checklist that will look at organic materials, heating and cooling, and sustainability issues. The guide also will offer ways to adapt an existing home to incorporate slow home principles by remodeling kitchens and bathrooms, opening up small closets, adding handmade artisan touches, using local, independent contractors, and reducing the environmental footprint.

"It's the ultimate recycling — to take a house and be able to redesign and rework it," Brown says.

Using existing structures and rebuilding on sites are also principles of the slow home movement. As gas prices rise and signs of global warming multiply, building miles away from urban centers no longer makes sense, contends Brown.

The "slow home" philosophy is "not a product you can buy; it's a process," says Brown.

Source: National Association of Realtors

If you are thinking about buying an older property, be sure to take into consideration any potentially required upgrades to the electrical system. Depending on the age of a property, the electrical system in a home can vary widely.

For example, homes that have been built recently almost always have 220 volt service. Most houses today have two 110 volt wires and one neutral wire running into the house, for 220 volt service and appliances, such as dryers and air conditioners. Older houses, on the other hand, were built with 110 volt service. This can be important to know as some models of appliances simply won't work in a home with 110 volt service. The cost to upgrade will depend on a number of factors, and can only be determined by a local electrician.

Most properties built after the 1960s, or upgraded since then, will have circuit breakers instead of fuses. Both fuses and circuit breakers are found in the electrical panel of a house, and exist to cut the flow of electricity when a circuit gets overloaded. Fuses have a thin strip of metal that literally blows when there's too much electricity flowing through it. When this happens, the fuse needs to be taken out and replaced. Circuit breakers are more convenient, as they just need to be flipped back on if they are tripped. Unlike a fuse, they don't need to be replaced.

In addition to volt service ratings, homes have amp service ratings. The amp service rating is tied to the main electrical panel in a property and how much electrical current can flow through it before the main circuit breaker shuts the system down. Most moderately sized older houses have 100 amp service, though a smaller house might only have 60 amp service. Larger new houses are often built with 200 amp service to accommodate modern electronics. It's possible to upgrade the main panel to handle more amps, and an electrician can give a buyer an idea of how much work this will be in a particular house.

These days most electrical outlets include a grounding wire connected to a third round hole, to protect against accidents and electrical shock. Older houses might lack grounding protection (easily visible with outlets that have only two prongs). Upgrading an electrical system to include grounding wires involves opening the walls and can be a significant amount of work. How much work it is depends on the size, construction and layout of the house.

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