Aaron Layman's Katy Texas Real Estate Forum

23-Story High Rise On Bissonnet Ignites Controversy in Houston Museum District

Residents in the neighborhoods of Southampton, Boulevard Oaks, or Broadacres are all to familiar with Houston's lack of zoning.  The planned 23-story development on Bissonnet at Ashby is a testament to what can go wrong when growth goes unchecked.  While the mayor and Houston City Council are investigating possible solutions, the long-time citizens of the area will continue to make their displeasure known.

Houston is one of only major cities in the U.S. without zoning laws, but the eyesore that is being proposed on Bissonnet will surely bring the issue back into the public eye.  A lack of zoning in the area is a major reason that the real estate market here is so healthy.  Developers have fewer regulations to navigate when zoning is not a factor.  The downside, all too apparent in this case, is that charming, peaceful neighborhoods can be turned upside down when developers fail to consider the ramifications of other their actions and how they will affect existing residents.

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

Silvestri Investments Buys Jordan Ranch West of Firethorne

Silvestri Investments has purchased the Jordan Ranch, 1375 acres just west of Firethorne in the Katy prairie.  The property is bounded by Woods Road to the West and will have access to I-10 from Pederson and Igloo roads.   The purchase of the Jordan Ranch is one more piece of confirmation of the development going up along F.M 1463.  Firethorne continues to grow, and Cross Creek Ranch will continue the growth further South starting in 2008.

As Nancy Sarnoff noted in the weekend Chronicle, commercial development is alive and well in the Houston Area.  Katy in particular has been quite active with multiple land developments this year.  Sarnoff noted that recent interviews with commercial brokers the area point to a relatively healthy picture for the commercial real estate market here in Houston.  While some, more highly leveraged deals have fallen through, most big investors and developers are still buying properties.

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.

McKinsey Documents Expose Insurance Companies' Greed

As Loren Steffy noted in this weekend's Houston Chronicle, most home owners know what the insurance companies are up to.  What most people may not know is that there is written proof of insurance companies' strategic plans to cheat consumers out of money by denying claims and decreasing coverage.

McKinsey & Company Consulting apparently drafted the master plan on behalf of Allstate Insurance during the early 1990's.  According to the article posted by Loren Steffy, Allstate is now trying to prevent the McKinsey documents from becoming public knowledge.  The issue of whether the documents are to be released is now a matter pending before the New Mexico Supreme Court.  David Berardinelli, the Sante Fe attorney who discovered the documents, is hoping for a favorable decision by the court.  The documents could prove to be a smoking gun for consumer advocacy groups and regulatory bodies seeking to put a halt to rising insurance rates.

For the complete article posted by Loren Steffy visit http://blogs.chron.com/lorensteffy.

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.

Houston Area Home Builders Cautiously Optimistic

A recent Metrostudy report noted that building permits for new homes were down 12 percent for the first 8 months of the year in the Houston area.  Most of the slowdown has been in the bottom end of the market.  The report actually showed an increase of 15% in homes priced at $225,000 or more.

Builders are expecting a turnaround sometime in 2008 for the overall market, but they are being cautious with their predictions noting that credit markets and job growth are two of the main wild cards affecting those predictions.

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.

Houston Poised For Real Estate Growth

As home prices fall in many of the major metropolitan areas of the U.S., Houston is poised for further future growth in the real estate market.  A recent Business 2.0 study included Houston as one of the 10 cities ready to bounce back from the recent downtrend.

The study noted the strong employment picture in the area as well as the major expansion of Houston's medical center as reasons for the optimism.  The study projects increasing demand inside the loop as more professionals look to take up residence in new houses that are replacing older, smaller dwellings.

While the pace of job growth has slowed in recent months, the economy as a whole still looks positive in the Houston area.  The strong energy industry and increased diversification overall has enabled the Houston economy to outpace national growth.  That's good news for the Houston real estate market!

To view the complete article and all 10 listed, visit this link:

http://money.cnn.com/galleries/2007/biz2/0709/gallery.boom_towns.biz2/index.html

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.

Independent Insurance Agents Offer Lower Rates In Houston Texas

If you are tired of the big insurance carriers raising their rates and deductibles, you should pick up the phone and call a local independent agent.  As Loren Steffy reported in the Sunday Chronicle, homeowners insurance rates start to look a lot more competitive once you look outside the big three (Allstate, State Farm, Farmers).  While the big three are going to court to try to raise rates, there are plenty of other carriers that are willing to write policies and offer you a better deal.

The insurance industry is predicting a drop in U.S coverage costs due to the past two years of mild hurricane activity.  Reinsurance rates for the big carriers are also dropping.  So why are the big three requesting higher rates?  That's a very interesting question.  It's a question that should prompt a lot of Houston area homeowners to pick up a phone and explore their options with a more competitive carrier.

Here are a few sites to help you start shopping for a better rate:

www.insweb.com

www.netquote.com

www.allquotesinsurance.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.

Mortgage Issues Put The Brakes On Lower End of Houston Market

Mortgage issues continue to put a damper on the lower end of the Houston Area real estate market.  As reported by Nancy Sarnoff of the Houston Chronicle, the bottom end of market ($80,000 - $150,000) saw a 13% drop in August sales compared to last year.  The number of listings also increased by 16%.

The higher end of the Houston market continues to show strong sales.  Sarnoff reports that sales of homes costing more than $500,000 saw a 26% increase in August.  This is similar to activity in the South Katy area where we have a higher average sales price.

The fact that the Houston Area is still producing new jobs should act as a buffer in the current market.  It will be some time, however, before the mortgage problems fully correct themselves.  The lower end of the market will continue to be challenging.

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 Chamber of Commerce Moves to La Centerra

The Katy Chamber of Commerce is now located in La Centerra.  The new space is located at 23501 Cinco Ranch Blvd Ste B206, Katy, TX 77494.  You can call the office at 281-391-5289.  You can also visit them on the web at www.katychamber.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.

Cinco Ranch Information Center Moving To La Centerra

The Cinco Ranch Information Center will be relocating to a new space in La Centerra.  The move should happen sometime in December.  Buyers looking for homes in the new Cinco Ranch Southwest section will want to stop by the new location when it opens.  Cinco Ranch still has about 5 to 6 years remaining before the neighborhood is built out.

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.

Seven Meadows Information Center Closing

The Seven Meadows Information Center will be closing effective the end of September.  The news may not come as a big surprise to some as sales in the neighborhood have been quite strong.  As the community nears completion, there is simply no longer a need for the center to remain open.

There is still a good selection of home sites available in Seven Meadows, but time is running out.  Avalon, the gated water-front and golf section of Seven Meadows, has only a few homes remaining.

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.