Sticks in the Ground

TEXAS FORECLOSURES UP 22 PERCENT

 

HOUSTON (Houston Business Journal) – Foreclosures in Texas last month were up 22 percent over January 2010, according to a report released yesterday by RealtyTrac.

Texas had a total of 14,897 foreclosure filings last month. That was about 33.5 percent more than in December 2010 and represented about one in every 653 homes.

Harris County had the bulk of filings — about 3,875.

At the national level, foreclosure filings increased 17 percent year-over-year in January to about 261,333, or about one in every 497 housing units.

.....blogging from Kingwood, TX

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Energy Star Guide

Keep your home comfortable year-round, get the ENERGY STAR Guide to Energy Efficient Cooling and Heating at http://bit.ly/anALxj

.....blogging from Kingwood, TX

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Is The Recession Really Over?

There has been a lot of “press” lately suggesting the recession is over, the implication being good times are just around the corner. Common sense and a stroll in the real world confirm that this notion, although perhaps technically accurate, is absolute madness.

Speaking specifically about the real estate industry at a recent conference Dr. Mark Dotzour, the chief economist for The Real Estate Center at Texas A&M University had this to say …..

"The health of the residential and commercial real estate industries depends not on gross domestic product (GDP), but on job growth" He added, "When the economy (i.e. GDP) grows by, say, 3 percent, but productivity also grows by 3 percent, it just means that currently employed workers produced 3 percent more things. Job growth is the essential engine of growth in this country. Until we start producing jobs, it's premature to say we are out of the recession."

We’ll keep working for the kind of change that’s necessary to return to a healthy housing market, but in all honesty, it’s going to be quite a while.

.....blogging from Kingwood, TX

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Important Taxpayer Amendments

UPDATE: Each of the property rights propositions discussed below gained voter approval in statewide voting. The property tax system in Texas will be improved for the taxpayer as a result.

Original Post:

On November 3rd Texans will have an opportunity to approve four significant changes to the state constitution. These amendments have the potential to  dramatically change the property tax structure of  the state in a good way.

Gabriel Lopez, legal council for the Texas Association of Realtors analyzed these four propositions and translated them into common sense English to help each of us make an informed decision.

Here is a summary (excerpted from Mr. Lopez's article) of the bottom line meaning of each of these important propositions:

Proposition 2
The central appraisers are using a practice called “highest and best use,” which is a method that allows a property to be valued on potential use rather than the current use.  Proposition 2 will  mandate that a residence be appraised only as a residence, regardless of what the highest and best use of the property may be.

Proposition 3
Passing this amendment would allow the state to have direct enforcement and oversight over every appraisal district. This would ensure that there is uniformity of the appraisal processes across the state. This is important because state funding for public schools is based on the taxable property in each school district.

Proposition 5
The main responsibility of the board of equalization is to hear appeals of the appraised value to taxable property and to resolve disputes between taxpayers and the appraisal districts. Appraisal districts have had a difficult time appointing boards in rural counties. By allowing appraisal district to pool together their qualified applicants, it would enable those counties to ensure that the appraisal process is handled professionally and in a timely manner.

Proposition 11
This amendment would narrow the scope under which private property could be taken by eminent domain. It essentially would eliminate the taking of private property for either private economic development (e.g., a shopping mall) or to boost tax revenues. Lastly, as of Jan. 1, 2010, the power of eminent domain could be granted only by a two-thirds vote of the Texas Legislature.

The entire article is available on line at Lost in Translation.

Be sure to make your voice heard on November 3rd.

.....blogging from Kingwood, TX

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Rainwater Harvesting – What’s the Benefit

Capturing and reusing rainwater for landscape use is obviously a way to conserve the municipal water supply, but, according to gardening experts, the rainwater is high in nitrogen and trace minerals, a real bonus for plants.

The Community Associations of The Woodlands recently installed a rainwater harvesting tank, the first of its kind at a public building in South Montgomery County. The 2,500-gallon tank collects rainwater from the office roof at the Parks, Recreation and Environmental Services facility in The Woodlands, providing drip-irrigation to more than 1,000 square feet of demonstration gardens at the site.

The public is invited to see the system and learn about rainwater harvesting methods for home and business at Woodlands Landscaping Solutions on Saturday, September 26, from 9 am to 12 noon at 8203 Millennium Forest Drive. The free, annual, how-to event promotes water-wise gardening.  For more information, visit http://www.thewoodlandsassociation.org, click on Environmental Services and then Woodlands Landscaping Solutions or call 281-210-3900.

P>.....blogging from Kingwood, TX

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America's Housing Crisis Can Be Fixed ...

Finally I've heard a voice of reason in a sea of cluttered thought.

Dr. Mark G. Dotzour, the Chief Economist at the Real Estate Center at Texas A&M University, has published a thought provoking White Paper in which he characterizes the current housing crisis as a basic imbalance of supply and demand. He suggests decisive action by our federal government is required to deal effectively with the problem. His four pronged attack focuses on

• slowing down the rate of new construction - stop issuing building permits in depressed markets.
  
• reducing the number of foreclosures - listen to FDIC Chair Sheila Bair - simply "helping people stay in their homes" is a dangerous basis for new policy.
  
• increasing housing demand - provide incentives to investors  - adjust the capital gains rate to 0% for properties held 5+ years, reduce the depreciation schedule for purchased foreclosed homes, utilize solid mortgage underwriting standards.
  
• reducing the 30 year mortgage fixed rate  - reflect a 1.5% premium over the 10 year Treasury note rate (somewhere well below 5%) - make explicit the government guarantee of Fannie and Freddie instruments. Refinancing at these rates would provide economic stimulus for millions of American households.

Balance supply and demand, this must happen before we can expect to see normalcy in the housing market. We need to put public policy in place that gives the private sector incentives to be the solution. Allowing the government print more money WON'T WORK. 

Please read or download Dr. Dotzour's complete paper. Bold Government Can Solve America's Housing Crisis .

Visit us on the web at KingwoodTxHomesForSale.com

.....blogging from Kingwood, TX

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Fingerprints & Background Checks

With the new year comes new requirements for Texas real estate brokers and salespeople. Now, before a person can apply for or renew their real estate license, they must be fingerprinted and submit to an FBI background check. Although fingerprinting is a one time requirement, effective January 2008, the FBI background check will be performed EVERY time the real estate license is renewed, typically every two years. The process is administered by the Texas Department of Public Safety.

This requirement is a positive step in an ongoing effort to safeguard the public and monitor the integrity of the real estate practitioner. As a consumer of real estate services YOU deserve the best representation possible.

Visit us on the web at KingwoodTxHomesForSale.com

... blogging from Kingwood, TX

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Clubs of Kingwood adds features

A master redevelopment plan, aimed at meeting the needs of its members for decades, is being developed for the Clubs of Kingwood. Several projects are already underway.

Construction of a private WATER PARK has begun with hopes of being operational by June 2006. The water park will include a Lazy River, a children's splash pad, tubular slides, putt-putt golf and cool decking surfaces.

Soon, children age 6 to 11 will be able to "drive" specially constructed golf carts, with a supervising adult sitting next to them. The adult isn't just along for the ride, they will have their own set of controls to use, if necessary.

The Clubs of Kingwood will also be offering a "family friendly" golf course, designed to help children and their parents/grandparents  learn more about the game while enjoying each others company. Nine holes of play will typically take about 1 1/2 hours on this course. Fun and education will be the focus of this facility.


Visit us on the web at KingwoodTxHomesForSale.com

... blogging from Kingwood, TX

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Technorati Tags: Clubs of Kingwood, golf, family values

Raffa's Opens in Kings Harbor

If you love Italian cuisine as we do, dining at Amedeo's, located on Loop 494, just south of Kingwood Drive, is a treasured experience. For more years than I can remember, Tony Raffa and his great staff have been serving our family fine food, fine wine and pleasant memories. For lunch, dinner or a very special party Amedeo's always has a great selection of quality entrees available. The experience is always superb!

So it was great to hear that Tony had signed a lease to open a new restaurant in the Kings Harbor project which is currently under construction at West Lake Houston Parkway. The new restaurant is named Raffa's American Bistro. The setting is spectacular, with picturesque water views. Kingwood is growing in a very positive way.

Visit us on the web at KingwoodTxHomesForSale.com

... blogging from Kingwood, TX

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Tech Tags: Italian+cuisine Kingwood Kings+Harbor Amedeo's

Houston Land to be Acquired by TxDOT

The Texas Department of Transportation will acquire approximately 700 parcels of land in Northwest Houston along Hwy. 290 and Hempstead Rd. The state will use the power of eminent domain to acquire the parcels. This road-widening project will utilize land along the dual corridors from I-10 to the Grand Parkway.

“This effort by TxDOT will represent one of the most extensive land acquisition programs in Houston in years. The acreage that will be taken by the state is mostly prime commercial property,” said Mark Sikes, principal with Lewis Realty Advisors. “This will have a real impact on the Hwy. 290 real estate market and property owners should begin now to map out their strategies for dealing with it.”

For more information, see Realty News Report

Visit us on the web at KingwoodTxHomesForSale.com

... blogging from Kingwood, TX

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Tech Tags: TxDOT eminent+domain Grand+Parkway real+estate