Real Estate Market Information

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FHA Changes Set to Take Effect October 4, 2010

September 7, 2010

Since the original post below, the Federal Housing Administration has decided to postpone the changes until October 4, 2010.  Premium fee changes will apply to all new case numbers as of that date.  This postponment will give lenders time to implement and test their systems prior to the changes taking effect.  Stay tuned for more updates and call if you have any questions.  We're always here to help.

 

August 9, 2010

 

It Is No Wonder Katy Is Doing Well

While we have seen better days, the economy in Katy, and the entire Houston area, has done fairly well compared to the rest of the nation. There are plenty of reasons for our resilience, and one of those is our stable home market. Home construction and home ownership contribute a significant amount to the overall growth and prosperity of the community.

Good News for Katy and West Houston Homebuyers and Homeowners

We have great news for homebuyers and current homeowners. Congress has passed the extension for the Homebuyer Tax Credit, allowing those who had met the previous deadline of April 30 to have more time to close on their home and still qualify for the tax credit. Nothing like waiting until the last minute! Homebuyers will now have until September 30 to close. The flood of contracts near the end of April, coupled with a wave of refinances has swamped an industry that was already working on a skeleton crew.

Washington Almost Gives Homebuyers Another Helping Hand

The House has approved a plan to give homebuyers an additional three months to finish qualifying for the Homebuyer Tax Incentive. This extension should not be confused with the extension granted to members of the military who may not have been able to take advantage of the credit before the deadline because of their duty. Those who qualify for that extension have until April 30, 2011 to place a contract on a home and must close the transaction before June 30, 2011.

A Look at the Real Estate Market in June 2010

The Houston real estate market continues to remain strong, thanks in large part to the homebuyer tax credit. While this tax credit has come and gone, we expect the Houston/Katy market to remain strong. There are several factors that lead us to believe that we will continue to see modest growth over the next few months.

No Flood Insurance Yet Again

Our trusted lawmakers have done it again.  As a matter of fact, this is the third time they've done it to us in recent months.  The National Flood Insurance Program (NFIP) was allowed to once again expire.  This happened on May 31st and has not yet been renewed.  While lawmakers agree that it should be extended, they seem to be having a hard time agreeing on how this should happen.

The Latest Facts and Figures From Your Katy and West Houston REALTOR May 2010

We are committed to providing you with the latest information to keep you informed on the housing market and sales trends. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

Please click on this link to view the MAY-2010 Newsletter Housing Trends eNewsletter:

Finding the Right Location is Important

There are so many things to consider when you are thinking about buying a home. Finding a home with the right layout, plenty of space in the living area or kitchen, an open kitchen that’s easy to work in, and plenty of storage space…the list of needs versus wants can, at times, seem endless. While all of these are certainly important, there is one thing that should be at the top of everyone’s list. Location, location, location!

Home Sales Jump

Chalk up one more point on the economic recovery side.  Housing statistics released late last week gave us the strongest reason to date to believe that the worst is definitely behind us.  New home sales jumped 27% last month, which was good news coming off a record low month.  Better weather and the tax incentive are largely responsible for this huge gain, the biggest month in 47 years.

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All information in this site is deemed reliable but is not guaranteed and is subject to change.

The information herein is furnished by the owner to the best of his knowledge, but is subject to verification by the purchaser, and agent assumes no responsibility for correctness thereof. The offering is made subject to errors, omissions, change of price, prior sale or withdrawal without notice. In accordance with the law, this property is offered without regard to race, creed, national origin, disability or gender.