Tell Me About Real Estate in 77494
Every day, I’m asked how the real estate market is faring in Katy. Happily, many parts of Katy are doing far better than the majority of the United States. (Unhappily, for current relocation clients of mine, the market is so aggressive that they have had several houses sell out from under them.) In the last few months, assorted national publications have stressed our strong real estate market fueled by our equally strong job market. Read more
Trendmaker Receives 2009 BBB Pinnacle Award
Trendmaker Homes was honored to receive the prestigious 2009 Pinnacle Award at the Houston Better Business Bureau Awards for Excellence luncheon held on Thursday, May 7, 2009. This award was presented to Trendmaker based on their commitment to ethics, overall excellence and quality in the workplace. Will Holder, President of Trendmaker, accepted the award on behalf of the company and its employees.
According to Holder, ‘This is a great honor for all of our employees whose goal is to provide our customers with the highest quality product and service in this industry. Every day is a new day at Trendmaker and we constantly strive to find ways to improve our quality and commitment to our homeowners. ”
Katy Networking Group Multiplies Business Success
Motivated local business owners, who network together, can multiply their success many-fold. When entrepreneurs gather to share business ideas and leads, a powerful force results. This synergy leads to profitable results. Working together, businesses create a singular quest for constant and never ending improvement. They hold each other to superior standards. The most effective networking groups are locally based and limit their membership to one-person-per-profession. Read more
Wonderful Gift for First-Time Homebuyers
As part of the “American Recovery and Reinvestment Act”, Congress has created a new, temporary federal income tax credit to provide an incentive for first-time homebuyers. A first-time homebuyer is defined as an individual who has not owned a primary home at any time during the past three years but who may have done so previously.
The highlights of this federal tax credit:
- The credit is good for qualified home purchases closed after January 1, 2009 and before November 30, 2009.
- The credit can be taken on tax returns filed during 2008 or 2009. Eligible homebuyers may claim the credit on their tax return. No other forms of papers have to be filed. Consumers who have already completed their returns can file amended returns for 2008 in order to claim the credit.
- The amount of the federal tax credit is for 10% of the cost of the home up to a maximum credit of $8,000.
- Unlike a tax deduction, the tax credit is a straight, dollar-for-dollar tax credit that will be paid out to eligible taxpayers, even if they owe no tax, or the credit is more than the tax they owe.
- The only stipulation is that the first-time homebuyer must remain in the house for three years or they will be required to pay back the credit.
- Although certain income limits do apply, the amount of the credit is the same for all taxpayers, married or single.
- Individuals whose Form 1040 filing status is single, (or head of household), are eligible for the tax credit if their income is no more than $75,000.
- Individuals who file a joint return may have not more than $150,000 in income.
- Individuals with incomes between $75,001 and $94,999 (single) or $150,001 and $169,999 (joint returns) are eligible for a partial tax credit.
- Individuals with incomes greater than $95,000 (single) or $170,000 (joint return) are not eligible for this tax credit.
American Recovery and Investment Act
Understanding Short Sales- A Buyer’s Perspective (PART II)
Short Sales seem to be the buzzword of the day for prospective home buyers. Between Short Sales and Foreclosures, I would say about half of the calls I get are about one of the two terms. See part one here.
What Does A Short Sale Mean To A Buyer?
The short sale, from a buyer’s view usually means a property that is being sold below current market value. It CAN mean that you will get a great deal on a home.
On the downside, the short sale for a buyer can be a frustrating experience due to lack of communication and long wait times and possible multiple offer competition. It’s a trade off….patience to save some money. Read more
Katy Resident Sandy Horton Named Top Sales Consultant of the Year
Katy resident Sandee Horton, Senior Sales Consultant for David Weekley Homes in Firethorne, was named Top Sales Consultant of the Year in Houston for David Weekley Homes for the second consecutive year. Firethorne is a 1,400-acre master-designed community in Katy/Fulshear. Read more
Sales Tax on Real Estate = Price Increase to Homeowners
The Texas Association of Realtors, TAR, located in Austin, has issued a statement to inform homeowners of several worrisome proposals making the rounds at the state Capitol. According to Brook Hunt, chairman of TAR, “They include bills that propose implementing a sales tax on (residential) real estate, known as a ‘real estate transfer tax’. These proposals would substantially increase the costs of homeownership at the worst possible time.”
Hunt continued, “I don’t think you have to tell any homeowner that now is not the time to increase the costs associated with real estate, so we’re very surprised to see these proposals this legislative session. As a state, we only rank 42nd in homeownership, but have made slow and steady progress in recent years. Legislation that shuts out even more Texas families from the American dream of homeownership would be incredibly short-sighted.” Read more
Foreclosure Crisis Remedy Critical to Financial Recovery
To help stabilize the economy and address the foreclosure crisis, President Obama announced the $75 billion Homeowner Affordability and Stability Plan. An in depth analysis of the plan is available at Bloomberg.com.
The New York Times has a very helpful chart that outlines the plan without going into all the verbiage of the actual announcement. It can be found on the New York Times Business Page.
While this is a controversial approach, the National Association of Realtors has endorsed the plan. In an article analyzing the plan, NAR stated, “It is widely accepted that our economic recovery depends on a stable housing market.” Read more
“Fix Housing First” Bill Moving through Congress
Last week, the Senate verbally approved the Fix Housing First Act, an important amendment to their version of the Economic Stimulus Bill.
The piece of legislation and the Stimulus Bill are still awaiting Senate and House negotiations, but could provide all home buyers of primary residences over the next year with a tax credit of $15,000 or 10 percent of the cost of the home, whichever is less. The credit will not need to be repaid unless the home is sold within two years of purchase. Read more
Understanding Short Sales — A Seller’s Perspective (Part I)
One of the hottest buzzwords in real estate right now is “SHORT SALE” . You can not turn on CNN, FOX News, or CNBC without a real estate story and SHORT SALE coming up. Today we will look at Short Sales from the perspective of the home seller. In a later article I will cover the short sale from the buyer’s perspective!
The term, in a nutshell, means that the property is being sold for less than the current loan amount and must have the banks blessing in order for the sale to occur. The term is not new, but it has become more common as banks attempt to stem the flow of foreclosure properties back on to the market. The foreclosure process is an expensive one for banks to undertake as well as time consuming and this is the main drive behind the concept of a “short sale”. Read more
Active Adult Lifestyle at Cinco Ranch’s Heritage Grand
Heritage Grand, Katy’s active adult community, was developed by Lennar Homes. It’s located south of I-10 and west of the Grand Parkway within the master-planned community of Cinco Ranch. Heritage Grand offers a splendid lifestyle for those over 55.
Sales are and always have been steady. There are a few new construction homes left in Heritage Grand. Resale homes, if they are priced correctly, sell in a reasonable time. Sales in 2008, of which there were 38, ranged from $160,000 to $289,000. Read more
Let’s Get it Sold, Part Four
Okay, you’ve settled down a little bit. You’re hesitatingly willing to work with your Realtor to make changes that will give your house the best chance of selling for the highest price our market will support. It’s not too late!
Following are the rest of the suggestions, intended for houses that have been on the market without selling, from the Read more
Down Payment Assistance Back on the Table!
There has been a lot of talk about how the Down Payment Assistance programs may be coming back in a modified form before too long.
I spoke with a lady last night who is TRULY who the DPA programs were developed to help. This lady has been working and trying to get her credit and debt in line so that she can qualify to buy a home. However, on her income as a teacher, it’s very difficult to save up the amounts of cash needed to put the down payment down and the costs associated with closing. Read more
Katy Sellers: Need a Chuckle? Part 3
House didn’t sell? Listing “expired” during the New Year’s holiday? Bitter taste in your mouth that even champagne wouldn’t dispel? Did you eat too many black-eyed-peas for luck and cabbage for money still hanging on to hope that your house will sell if you get a better, more professional Realtor? You are not alone!
While 500 listings expired, city-wide, 72 of those were in Katy on the south side of I-10. That’s a lot of disgruntled Katy homeowners. Read more
Why Hasn’t My Katy House Sold?, Part Two
Okay, you’re still mad at your Realtor, I understand. Your house hasn’t sold. You are frustrated and don’t know which way to turn. The following list is based on information from the Texas Association of Realtors; it should help as the suggestions are concrete solutions. Read more
Sellers, Do You Resent Your Katy Real Estate Agent?, Part One
Does your Katy Realtor constantly hammer you for a price reduction? Does he/she press, press, press? Do you hate to see her name on your Caller I.D.? Do you want to scream, “Shut up, already!”
Have you decided that all your agent wants is a quick sale at a cheap price? After nearly 20 years as a Katy Realtor, I have, in fact, observed some Realtors that do seem to be motivated by selfish ends but the great majority are honest, hard working professionals. Read more
Kickerillo Plans to Build Custom Homes in Fulshear’s Cross Creek Ranch
Kickerillo Company, Houston’s long-time building and development company, and Trendmaker Development Company jointly announce that Kickerillo Company will be the exclusive custom builder in the new master-planned community of Cross Creek Ranch, a Trendmaker Development located in Fulshear, Texas. Read more
