Home sales increased by 14% in June compared to last year’s numbers! Inventory for June is down and $1.7 billion worth of pre-owned homes were sold! If these numbers are any indication of what’s to come….July, 2012, is going to be phenomenal!
Our Luxury Division, at Keller Williams Premier Realty, will be hosting our 1st Luxury Tour Luncheon out at Lakes of Bella Terra in Richmond on Wednesday, June 30th! We’ll be showcasing one of the area’s top custom home builders, Homes By David Powers! Lakes of Bella Terra is one of Katy/Richmond’s most sought after communities. If you need more information on this tour please let me know. This is definitely going to be an event to remember!
Bringing Luxury Home to our Richmond, TX, community!
Yee Haw! Texas Exceeds Expectations in Job Growth
This information comes from NewGeography, and the statistics were compiled by their executive editor Joel Kotkin. He was quoted to say, “Even the dullest minds on the East Coast are beginning to realize that Texas is doing something right, as much as they hate to say it.”
Now for the summary of the report:
Once again TEXAS CITES ranks among the strongest in the country when it comes to job growth! And YES, the Houston area is one of those TOP cities!
Did you know that Lakes of Bella Terra is home to some of the best schools in Texas? Not only do they feature award winning schools, but if you look at the statistics you will see their class sizes have smaller student to teacher ratios and more opportunities for students to excel in academic and extracurricular activities! If you have any questions concerning the schools in Lakes of Bella Terra let me know. It’s great to know that we have communities that truly focus on what really matters to families.
Great news for the Houston area again! Property sales rise again for 10 straight months in a row here in Houston…and inventory is at its lowest level in more than three years!
I am pleased to announce our 4th Annual RED Day on May 10, 2012. RED Day is a companywide Keller Williams Realty volunteer effort dedicated to improving our local communities as We Give Where We Live. All across North America and Canada, Keller Williams agents commit to a Day of Service where the focus is Renewing, Energizing and Donating. This year we have challenged ourselves to complete a host of projects at The Brookwood Community in Brookshire, Texas.
Our RED Day Vision (10 on 10) includes 10 Major Projects that we hope to accomplish:
• Project 1 – Power Washing Campus Buildings & Group Home Porches
• Project 2 – Painting (2) Brookwood Transportation Vehicles
• Project 3 – Donating (8) New tires for Brookwood Transportation Vehicles
• Project 4 – Landscaping (8) Brookwood Community Group Homes
• Project 5 – Kitchen/Bathroom Renovations and Interior Makeovers for 2 Brookwood Staff Homes
• Project 6 – Washing and Cleaning 16 Brookwood Vans
• Project 7 – Providing RED Day Goodies and a Special RED Day Celebration for the Brookwood Citizens and Staff
• Project 8 – Providing Personalized Frames for each resident’s room
• Project 9 – Providing (4) New Tables and (24) New Chairs for Group Homes
• Project 10 – Providing 50-100 New Workshop Chairs
The successful completion of our projects is directly related to our fundraising efforts. Our project expenses call for a budget of $10,000 and that’s where you can help. The attached Sponsorship Opportunities Menu outlines the available sponsorship levels. Additionally, we welcome in-kind donations for the renovation projects as we will need paint supplies, interior and exterior paint, major kitchen appliances, flooring, garage door openers, bathroom fixtures, blinds, kitchen countertops, landscaping materials and ceiling fans.
If you’ve never personally experienced Brookwood, please check out the attached brochure and their website at www.brookwoodcommunity.org We are honored to serve this special place on RED Day and we hope you will join us in our efforts. Your assistance goes beyond networking with our agents because RED Day changes lives.
Finally, we need Sponsorship Commitments by April 6th and all monies are due by April 16th. The sooner we confirm our sponsors, the sooner we can finalize our projects and the respective purchases needed to make our RED Day 10 on 10 Vision a Reality. If you have any questions regarding RED Day 2012, please do not hesitate to contact me at 281-682-2555.
Did you know that there’s only two Metro Areas in the United States that home values showed an increase from 2007? If you are keeping track of yearly home value statistics, 2007 marked the peak of the housing market. Both HOUSTON AND SAN ANTONIO received this honor with Houston reporting a 4.8% increase and San Antonio reporting and increase in home values of 2.7%
The statistics are out! January marked the 8th consecutive month of increased existing home sales in our area. When you compare the statistics from January, 2011 and then look at our numbers for this January, sales of single-family homes have increased 9.2 % according to the Houston Association of Realtors.
Wishing you and your loved ones a very happy Valentine’s Day. I’m so grateful to work with clients like you. If you have any questions or need anything at all, call or email me anytime.
There’s general maintenance that a homeowner should do every year to keep their home in the best condition possible. Here is a checklist that we give to our buyers.
1. Caulk windows and trim.
2. If your home is built with Pier and Beam Foundation inspect your crawl space for water.
3. Check Wooden Decks for Moisture.
4. Inspect and Touch Up Paint.
5. Service and Clean the HVAC System.
6. Get the Chimney Swept and Inspected.
7. Check Bathtub Caulk.
8. Periodically Run Water through Drains of Plumbing that is not Used Regularly.
9. Check the Toilet Seal.
10. Clean out the Gutters.
11. Clean Your Roof’s Valleys.
12. Switch Ceiling Fans to Run Clockwise in the Winter and Counterclockwise in the Summer.
13. Make sure to maintain the Finish on your Front Door.
14. Two or Three Times a Year put some Vinegar Ice Cubes down the Disposal.
15. Check A/C Filters
16. Clean Dryer Vent Duct
17. Clean Glass Shower Doors
If you would like more information on how to maintain your home after you buy it, just let me know. I work with a great home inspector, Blake Salcetti, the head of Texas Certified Inspections, who makes it a point to make sure our buyers and sellers have the best possible information when it comes to keeping your home in top condition.
Firethorne is Booming!
Today it was announced that Section 22 in Firethorne is opening up to buyers! This section will have lots that back to one of two lakes. Let me know if you are interested and how I can help you to recieve $20,000 worth of free upgrades!
If you are a buyer, have you ever given a thought to which title company you are planning to use? Probablly not, you might even be planning on on the seller choosing the Title company and letting the seller pay for the policy. It will save you some money….Right?
You might want to reconsider.
Below are some top reasons a Buyer Should Choose their Title Company:
1. The Buyer is the Covered Party.
2. The Buyers Lender is Covered.
3. The policy costs the same, no matter which company you choose.
4. The Buyer’s heirs are covered.
5. What if the Seller’s company fails or goes out of business?
6. What do you do if your claim is denied?
7. It can avoid lawsuits……
Last Wednesday, at the 2012 Houston Housing Forecast, Metrostudy President, Mike Inselmann predicted home sales and home starts to increase 10% for this year. That would mean home starts for 2011 will increase from 18,000 to 20,500 in 2012. When you look at existing homes that number would increase from 2011’s 54,000 to approximately 59,400 for 2012.
According to a new survey that has been conducted by Jones Lang La Salle, investors will be focusing on multifamily properties. Home ownership rates are still declining and rental rates are still rising….When investors were asked where in the US would they invest their money next year, Dallas, was a top choice. Top investors included in this survey also said they would focus on selling their Houston properties in 2012.
I don’t know if I entirely agree with this survey. We are seeing a tremendous amount of investor traffic here in the Houston area. They don’t necessarily want to sell…..they are looking to buy and take advantage of the low prices of our housing market.
If you are looking for addition information on how the Homestead Exemption can help lower your property tax bill you might be interested in reading this article from Texas Real Estate Magazine.
If you live in Texas and own a home, there are a lot of opportunities to reduce your property tax bill. From deducting mortgage interest to writing off home improvements, you can save a lot of green when it really counts – income tax time. One of those money-saving goldmines is the homestead exemption. No, you don’t have to own a ranch to qualify for one. Any homeowner can apply for a homestead exemption on their principal residence in Texas.
It’s a great way to lower your overall property taxes. Why? An exemption removes part of the value of your property from taxation and lowers your taxes. For example, if your home is valued at $125,000 and you qualify for a $15,000 exemption, you pay taxes on your home as if it was worth $110,000. This exemption only applies to your principal residence, not to any other property you own.
Beware of homestead exemption scams
There is no fee for making the application for a homestead exemption. Again, there is no fee. However, certain companies offer to “process” your application for a fee, notifying homeowners by sending you a letter in the mail. These letters usually will start appearing in your mailbox around the first few weeks of the new year.
The Texas attorney general’s office reports that companies in the past have styled their advertising to make it appear that they are an “official” taxing authority, or that their fee must be paid for the homeowner to get the exemption. Other companies will act as “tax processing centers” – when in fact they’re doing no such thing.
These companies will often mail a very official-looking solicitation letter, saying that for a fee (usually $50 or more) they’ll take care of your homestead exemption application. But the fact is that Texas law requires all these companies to make it clear that they are not a governmental agency. Still, many people are confused by these letters and send in the fees.
Once again, filing for a homestead exemption is free. You just fill out a simple application and mail it in – no fee required. There’s absolutely no reason to get scammed out of $50 in the process.
Qualifying for a homestead exemption is easy. Here’s what you need to qualify:
You must own your home. To qualify for a general exemption, you must own your home on Jan. 1. If you are 65 years of age or older or disabled, you need not own your home on Jan. 1. You may apply for the homestead exemption as soon as you qualify and will receive the exemption as of the previous Jan. 1.
Your homestead can be a separate structure, condominium or a mobile home located on leased land, as long as you own it. And, for all you ranch owners, your homestead can include up to 20 acres if the land is used as your yard. A residence can also be owned by an individual through an interest in a qualifying beneficial trust and can be occupied by a trustee of a qualifying trust.
If you are not the sole owner of the home, you will receive only a portion of any qualified exemption, based on your percent of ownership. For example, you own a 25-percent interest in your homestead valued at $100,000, for a total value of $25,000. You will receive 25% of a $15,000 homestead exemption, or $3,750.
You must use the home as your principal residence on Jan. 1. If you have more than one house, you can get an exemption only for your main or principal residence. You must live in this home on Jan. 1.
If you temporarily move away from your home, you can still get an exemption if you don’t establish another principal residence and you intend to return. For instance, if you enter a nursing home, your home still qualifies as your homestead if you intend to return. Renting part of your home or using part of it for a business does not disqualify the rest of your home for the exemption.
Types of exemptions
The Texas Tax Code offers homeowners a way to apply for homestead exemptions to reduce local property taxes. The Texas Property Code allows homeowners to designate their homesteads to protect them from a forced sale to satisfy creditors. That means there are several types of exemptions:
School taxes (all homeowners). You will qualify for a $15,000 homestead exemption on your home’s value for school taxes.
County taxes (all homeowners). If your county collects a special tax for farm-to-market roads or flood control, you will receive a $3,000 exemption for this tax.
Optional exemptions (all homeowners). Any taxing unit, including a school district, city, county or special district, may offer an exemption for up to 20% of your home’s value. The amount of an optional exemption can’t be less than $5,000, no matter what the percentage is. For example, if your home is valued at $20,000 and your city offers a 20-percent exemption, your exemption is $5,000, even though 20% of $20,000 is just $4,000. Each taxing unit decides whether it will offer the exemption and at what percentage. This percentage exemption is added to any other homestead exemption for which you qualify. The taxing unit must decide before July 1 of the tax year to offer this exemption.
Age 65 or older homeowners. Taxing units are allowed to offer additional homestead exemptions to homeowners who are age 65 or older or disabled.
Disabled veterans/survivors. You may qualify for a property tax exemption if you are a Texas resident and are either (1) a veteran who was disabled while serving with the U.S. armed forces or (2) the surviving spouse or child (under 18 years of age and unmarried) of a disabled veteran or of a member of the armed forces who was killed while on active duty.
There’s a lot to consider when filing and applying for an exemption, but as long as you avoid the scams, it’s a great way to save money on your annual property taxes. For more information on exemptions, contact the Texas state comptroller’s office or the Texas attorney general’s office.