Aaron Layman's Katy Texas Real Estate Forum

New Floor Plan Option For Avalon at Seven Meadows Estates, Katy Texas

If you have visited the new Cinco Ranch Southwest model home village lately, you probably noticed the Taylor Morrison Florence model, loaded with extra features.  For those looking to build in Avalon, this floor plan offers an excellent opportunity for customization into an Estates home.  While not originally included in the Avalon Estates lineup, Taylor Morrison will consider customizing the Florence and building it in Avalon.  If you would like to look at some preliminary sketches and ideas, feel free to give me a call.  I would be happy to assist you with building your new water front or golf course home.

For more information about Avalon at Seven Meadows contact a neighborhood specialist!  Aaron Layman is an Avalon resident  He is also a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190, or visit him on the web at www.AaronLayman.com.

National Power Co Pulls Fixed Rate Pricing, In Katy, Houston Texas

National Power Co. customers who saw their fixed rate pricing plans canceled by the company have good reason to complain to the public utility commission.  The fact that National Power would have the audacity to cancel rate plans on customers only underscores the flaws in the deregulated electricity market.  After numerous ads touting the guarantees and of peace of mind in fixed rate plans, consumers were likely shocked to see that National Power was using the "material change" clause in their contracts to nullify price guarantees and hike rates.

National Power's rates have already been pulled from the powertochoose site, but more needs to be done to punish the company and/or limit their ability to do business in the state.  National Power has changed its mind and decided to honor the existing plans for now, but it will be interesting to see how the PUC handles the situation as it unfolds.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

Cinco Ranch Southwest Homeowners Association (Cinco II HOA) Now Serviced by CIA Services

Residents of Cinco Ranch Southwest received a new management company this month.  CIA Services located at 9800 Centre Parkway, Suite 625, Houston TX 77036 is now servicing Cinco II.  Cinco Southwest residents can ask for Karen Cooper, the new community manager.  The phone number is 713-981-9000 and you can reach her via email at cooper@ciaservices.com.

Residents of Cinco I will continue to be served from the Mason Road office ( Phone number 281-599-0408)

For more information about Cinco Ranch you can visit CincoRanchConnects.com

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

Fire Sale! - Huge Incentive on 4 Bedroom 3.5 Bath Home For Sale in Firethorne, Katy Texas, 28022 Gadwall

The seller for 28022 Gadwall has just authorized a huge incentive for this great 4 bedroom home in Firethorne.  At $299,900 and almost 3750 square feet, this home was already one of the best deals available.  With this new incentive it is a steal!  Call me today at 281-935-2889 to see if you qualify for this great deal in the master planned community of Firethorne.

Real Estate Symposium Highlights Strengths, Weakness In Katy, Houston Texas Housing Market

Yesterday's real estate symposium offered a glimpse of the Houston area housing market.  While some of the news was sobering, there were also positive signs for Houston real estate.

As Barton Smith noted in his presentation, more than a third of current pending home sales are foreclosures.  The weight of this statistic can be attributed to the large number of starter homes.  Sales on the lower end are expected to struggle into 2009, as more foreclosures work through the system.  Smith noted that a third of area sales during 2007 were made with 100 financing and he expects a lot of those to come back on the market as foreclosures.

While prices have declined on the lower end, the higher end of the market has experienced price gains.  Price gains on more expensive homes may slow as the foreclosures on the lower end trickle up.  When owners have a difficult time selling smaller existing homes that results in fewer available move-up buyers.

Katy is a prime example of the tale of two markets.  North Katy (North of I-10) has seen a large number of foreclosures, with an oversupply of starter homes.  Zip code 77449 has been hit particularly hard.  By contrast, South Katy has relatively few foreclosures and a much higher average sales price.

One positive sign for the market is that builders have been proactive in tightening their supply of homes.  Sales of new homes outpaced starts for the first quarter of 2008.  Moderate building activity should keep inventory in check and provide pricing support.

Smith also noted that Houston is likely to remain the fastest growing urban market in the country for the next few years.  This can be attributed to the surging energy market and the large number of jobs being added to the economy.

For more information about the Institute for Regional Forecasting and the annual real estate symposium you can visit www.uh.edu/irf.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

Solid April Sales Numbers For Cinco Ranch, Seven Meadows & Grand Lakes, Katy Texas

These master planned communities in South Katy continued to post good sales numbers for April 2008.  Cinco Ranch rebounded from a slow March, while Grand Lakes and Seven Meadows showed modest price gains.  Prices for the three communities averaged approximately $100 per square foot for the month of April.

The market continues to remain more challenging for sellers with ample supply and generous incentives from builders for new construction.  The Cinco Ranch Model park is now open, and Cross Creek Ranch will begin selling in a matter of days.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

5 Bedroom 3.5 Bath Home For Sale In Cinco Ranch West, Woodhaven, Katy Texas

5 Bedroom Perry home in Cinco Ranch West, Woodhaven.  Open floor plan includes formal living, game room, and study.  Green Belt behind home provides extra privacy, and walking trail is right outside the front door.  Great Cinco Ranch location close to water park, outstanding Katy ISD schools, and La Centerra shopping.

2822 Nicks Run     $349,900      MLS # 6400181     Status: Active

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

Trendmaker Opening For Home Sales In Cross Creek Ranch, Katy, Fulshear Texas

Trendmaker Homes (Trendmaker Development) is slated to begin home sales in Cross Creek Ranch beginning May 10th, 2008.  They hope to have a temporary information center later in June, and model homes should arrive sometime in August.

Builders within Cross Creek Ranch will included:

Trendmaker Homes - 60', 70', 80', and 1/2 Acre home sites

Village Builders - 80' home sites

David Weekley Homes - 70' home sites

Perry Homes & Ashton Woods Homes - 55' home sites

The total tax rate for Cross Creek Ranch will be 3.62% before homestead, with a MUD rate of 1.29%.  The HOA fee for Cross Creek Ranch is set at $800 per year.  There will also be a 0.25% transaction fee to fund educational development.

If you are thinking about a move to this wonderful new master-planned community, give me a call today!  I would be happy to assist you with your relocation to Cross Creek Ranch.  Cross Creek will encompass 3200 total acres, including generous open space, lakes, and trails for walking or biking.  The Amenity Center should also provide ample family entertainment and enjoyment.  Cross Creek will also be home to a high school, middle school and elementary school when completed.

Visit www.CrossCreekTexas.com for website updates.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

Katy ISD Approves Contract For Elementary 32 In Pine Mill Ranch

The Katy Independent School District will open elementary 32 in 2009.  The new school will be located within the Pine Mill Ranch subdivision at the intersection of Cinco Terrace Drive and Fiona Sky Lane.  The board officially approved the contract this week at a base price of $14.6 million, with a final cost of no more than $18.6 million.

For more information about Katy schools visit www.katyisd.org.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

Election Year Politics And Mortgage Bailout Schemes Bad For Katy, Houston Area Homeowners

The pending mortgage bailout proposed by Rep. Barney Frank and Sen. Chris Dodd is just one more political fix that is doomed to failure.  Government has a poor record of correcting economic imbalances that would be better left to correct on their own.  When Congress starts tinkering with financial markets to compensate for previous mismanagement and oversight, all mortgage borrowers will pay the price.  The sub-prime pain that has already claimed millions of foreclosure victims has now spread throughout the capital markets, inflating the cost of borrowing for all homeowners.

Housing markets in many parts of the country are correcting for a reason; They need to come down to affordable levels.  Market bubbles do not last forever, and the borrowers, speculators and banks that made those risky loans should bear the brunt of the losses.  Giving mortgages to borrowers with FICO scores that were low enough to disqualify even most renters was a recipe for disaster.  The same can be said for mortgages made to investors who put down little if any of their own money.

Adding more bad loans to the FHA's already burdened portfolio will not help the problem.  The financial markets are already taxed.  Additional backing by the government will just mean more taxpayer expense.

William Wheaton, a professor with the MIT Center for Real Estate, advocates letting the housing crisis run its course.  He has also noted that many homeowners facing foreclosure would actually be better off renting in the current market than trying to refinance a bad mortgage.  This is an excellent point that few, if any, politicians are addressing because it is politically unpopular.  When MIT professors and Yale economists are telling you that the market needs to run its course, I would be inclined to listen.

The housing market is adjusting, and it will be painful for a lot of families, particularly those who had their hopes set on the dream of home ownership.  I'm a huge fan of home ownership, I just don't want to be forced to subsidize someone else's high-risk mortgage.  Sentiment appears to be growing against the housing bailout.  Sites like www.AngryRenter.com and www.NationalBubble.com are seeing plenty of traffic.  It will be interesting to see if anyone in Congress is listening.   

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.