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Apr
28

Katy Real Estate: Signs of a Real Estate Recovery

April 28, 2012 By 2 Comments

April 28, 2012 By 2 Comments

Recovery

Over the last six months, nearly every facet of the U.S. economy has shown improvement and the real estate market is no exception. Here is the proof: Recovery Sign #1: Housing Starts. In February, housing starts checked-in at an annual rate of 698,000 units. That’s up 14.7% from the 608,800 starts in 2011… up 18.9% from the 586,900 starts in 2010… and up 25.9% from the record-low 554,000 starts in 2009. Recovery Sign #2: Building Permits. In February, building permits – a proxy for future construction – climbed to an annual rate of 717,000 units. That was ahead of … [Read more...]

Oct
28

Home Affordable Refinance Program: HARP

October 28, 2011 By Leave a Comment

October 28, 2011 By Leave a Comment

Refinance

There are new HARP changes to be announced in the next 2 weeks. Below is an excerpt of an article that was found that might help shed some light on the "new" plan to assist people who are either upside down or need help with a refinance. Some mortgage lenders say that since the Federal Housing Finance Agency announced changes to the Home Affordable Refinance Program, or HARP, this week, they have been swamped with phone calls from underwater borrowers who want to use the program to take advantage of today's low rates. "My phone has been ringing off the hook with the people wanting to … [Read more...]

Apr
19

March Real Estate Market Report Is In!

April 19, 2011 By Leave a Comment

April 19, 2011 By Leave a Comment

Market report

March Real Estate Sales Fall Slightly In what reads like a carbon copy of the February housing report, local home sales fell slightly in March while the average price of those homes rose. The lower sales volume compares to sales activity in March 2010 that was driven, in part, by the federal government's first-time home buyer tax credit incentive. According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), March sales of single-family homes fell 4.4 percent versus one year earlier. As in February, the popular middle segments of the Houston housing … [Read more...]

Jan
10

Firethorne, Katy, Texas: 2010 Record High New Home Sales

January 10, 2011 By Leave a Comment

January 10, 2011 By Leave a Comment

Record High Sales In Firethorne

Firethorne continued its record-breaking ways in 2010, selling 254 new homes, an all-time high for the five-year-old Katy/Fulshear residential development. This represents a 6.7 percent increase in new home sales over 2009, when the 1,400-acre master-designed community marked its previous record-breaking 238 homes sold. “The continued growth of the Katy/Fulshear/West Houston economy, the Federal tax credits for first-time homebuyers (offered earlier in the year), our outstanding public schools and ongoing support from the local Realtor ® community have fueled the success we achieved in … [Read more...]

Jan
07

2011 Katy Real Estate Expectations

January 7, 2011 By Leave a Comment

January 7, 2011 By Leave a Comment

Katy Real Estate Expectations

The year of 2010 comes to an end: There was never a better time to buy a home. For most of the past 12 months, home prices tumbled, mortgage rates ticked downward, and the inventory of available homes was at an all-time high. Would-be buyers, even if they were able to overcome job insecurities, found that the hurdles to obtain a loan were formidable. They remained on the sidelines, and housing analysts opined that if the broader economy improved and unemployment fell, pent-up demand would be unleashed, credit guidelines would ease and home sales would improve. As the New Year begins, … [Read more...]

Jan
06

Katy, Texas Number One!

January 6, 2011 By Leave a Comment

January 6, 2011 By Leave a Comment

Katy Texas by Angela Kraushaar

There are four Texas area suburbs on a list of the top 10 growth areas in the country. These areas are ranked by a demographics research firm, and Katy, Texas tops them all as the Number 1 “Most notable high-growth area.” The Arkansas based Gadberry Group released the “10 from 2010” this week, and Katy came out ahead of two Fort Worth suburbs, Haslet ranked #2 and Keller ranked #3. The Dallas suburb of Frisco came in at #6. The same list was compiled in 2009, and Katy, Texas ranked #5. This year Katy recorded an 8.7 percent increase in households. Since 2000, Katy’s growth rate … [Read more...]

Jan
05

FHA: Guidance for Borrowers and Lenders

January 5, 2011 By Leave a Comment

January 5, 2011 By Leave a Comment

fha guidance for buyers

The Federal Housing Administration (FHA) released guidance to homeowners and lenders that use the reverse mortgage or Home Equity Conversion Mortgage (HECM) program and are dealing with outstanding property taxes and unpaid hazard insurance premiums. FHA’s guidance is intended to assist elderly borrowers who have neglected to pay these expenses and may face foreclosure. HUD regulations allow lenders to make tax and insurance payments on behalf of their elderly clients from the borrower’s available mortgage funds. However, once those resources are exhausted, the lender must advance funds … [Read more...]

Dec
08

Real Estate October Market Report In!

December 8, 2010 By Leave a Comment

December 8, 2010 By Leave a Comment

Katy Texas October Market Report

    The Houston real estate market staged an encore of its post-tax credit performance in October with a decline in sales volume but continued stability in pricing. Despite the fourth month of down sales, the market enjoyed another boost in the average price and a nudge in the median price of single-family homes. According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), October sales of single-family homes throughout the Houston market fell 23.3 percent compared to October 2009. However, on a year-to-date basis, single-family home sales are … [Read more...]

Sep
25

August Market Report Is In!

September 25, 2010 By Leave a Comment

September 25, 2010 By Leave a Comment

single family home sales

Post-homebuyer tax credit calm prevailed across the greater Houston area for the second straight month in August, with property sales volume down, though not as dramatically as it was in July.  Despite the decline, the average price of a single-family home continued to climb. According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), August sales of single-family homes throughout the Houston market fell 16.7 percent compared to August 2009.  Declines were recorded in all pricing segments. The average price of a single-family home rose 2.2 percent from … [Read more...]