Houston Area Information

April 2011

I’ve got some bad news for you. Home values in Houston were down slightly in March 2011, falling .2% from February 2011. That’s the bad news, and that’s all I can give you that will keep the “glass half empty” persuasion satisfied. Now…how about some good news?

April 2011

April 2011

Changes in the Annual Mortgage Insurance Premiums are set to take affect on April 18th.  While it isn't exactly earth shattering in terms of planning for potential home buyers, it does change a borrower's bottom line and, as you can imagine, it will cost you a little bit more.

March 2011

January brought cold temperatures to the Houston area, but that didn’t stop the Houston housing market from heating up. January saw increases in both sales volume and average prices, with the average price of single-family homes reaching the highest level ever for a January in Houston.

September brought more mixed signals, with home sales declining and inventory rising. One would think that this would indicate that values would also be declining; however that was not the case. The average sales price for single family homes rose to $215,250, a 5% increase over September 2009.

Much of the decline in sales volume can be attributed to the end of the home buyer tax credit. Many buyers that would have normally purchased later in the year made their purchases early in order to qualify for the credit, leaving fewer active buyers in later quarters of the year.

October 6, 2010

The Texas Attorney General Greg Abbott has sent a demand letter to 30 banks asking that these institutions immediately “suspend all foreclosures, all sales of properties previously foreclosed upon, and all evictions of persons residing in previously foreclosed upon properties” until these institutions have reviewed files and taken appropriate steps to rectify possible past errors in documentation. This is in response to certain employees engaging in “robosigning” of documents.

September 25, 2010

There's good news on the flood insurance front...mainly that it looks like we'll continue to have it.  Homeowners everywhere can rest a little easier, knowing that the House of Representatives joined the Senate in passing an extension to the National Flood Insurance Program.  The bill is now going to the President for his signature.

September 20, 2010

These little bugs are becoming quite a problem in Katy. Many Katy homes have been inundated by these pesky little critters. The main problem in your home is that they are just a nuisance. Take a look at this video taken by our trusted pest control professional, Scott McGrath, from McGrath Pest Control.

August 27, 2010

Flood insurance has been a hot topic in real estate this year. I know that most have not heard too much about it. The headlines have all been about the recession, foreclosure rates, plummeting home values, and high unemployment. The National Flood Insurance Program has been allowed to lapse several times this year leaving all Americans in a bind, not just those in a flood zone. We currently are set through September 30, and an extension of the program is likely without a lapse, but there are no guarantees.