The Jones Team Blog
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
August 2, 2010
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.
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.
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.
Jackie and I have been REALTORS® for many years now, and we pride ourselves in our service before, during, and after the sale. Part of that service after the sale includes educating you on the potential hazards lurking in your home.
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.
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.
While the beginning of summer doesn’t officially start until June 21, 2010, it feels like it started a couple of weeks ago. The hot temperatures made for a fantastic Memorial Day holiday, but if you take a short drive through some Katy neighborhoods you’ll see some lawns starting to brown and some plants beginning to wilt already. I think it’s safe to say that this summer will be a hot and dry one.
Jackie and I like to eat fresh, so we tend to make a stop at the grocery store almost every day. Shopping for fresh fruits and vegetables around town is starting to feel a lot like a treasure hunt. It just seems like finding fresh produce at a reasonable price requires hours of research and plenty of luck. Grocers are using the term fresh loosely, items are pricey until they are put on sale, and the produce that is put on sale has been housed to the point that it is sad looking at best.
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.