Aaron Layman's Katy Texas Real Estate Forum

4 Bedroom 3.5 Bath Home For Sale In Firethorne, Katy Texas, Fort Bend County

Energy Efficient 4 Bedroom 3.5 bath home in Firethorne, Katy Texas.  Features formal dining, study and game room.  Beautiful hardwoods in study and dining area.  Large kitchen opens to two story family room.  Master suite features sitting area and huge closet.  Other features include 3 car tandem garage, plantation shutters, water softener system, TechShield roof decking, insulated windows, Low-E window film and full sprinkler system.

28022 Gadwall     $295,000      MLS # 7205660     Status: Available

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 Housing Market Softens, But Cinco Ranch, Seven Meadows & Grand Lakes Home Sales Defy Trend

If you saw today's Houston Chronicle report detailing the softening area housing market, you noticed one important fact; All housing is local, and not all neighborhoods are alike.  This is an important factor because the Houston area MLS covers such a large geographic area.

Sales figures for the start of 2008 reflect a softening market.  Prices have also weakened in certain areas.  That is to be expected in a slowing market.  It is also important to look at those areas which are not falling, but rather showing healthy demand and price stability.  Areas inside the loop have shown surprising price gains this year, and many other areas continue to hold up well.

The master planned communities of Cinco Ranch, Seven Meadows and Grand Lakes have seen falling sales figures this year, but prices are still showing small gains.  Based on current data, February could even be stronger for sales in the area than last year.  You can check back in a few weeks for final numbers.

To see the complete article in the Houston Chronicle you can visit www.chron.com/realestate

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.

4 Bedroom 2.5 Bath Home For Sale in Cinco Ranch Meadow Place, Katy Texas, Fort Bend County

Pride of ownership shows in this well maintained Newmark Bellaire in Cinco Ranch.  Hard to find floor plan with all bedrooms up.  This spacoius home features an open kitchen/den area, plus a study and game room.  Quiet back yard with a fabulous covered patio featuring custom slate floor.  Walking distance to Cinco Ranch recreation center and swimming pool, as well as Beck Junior High. 

5211 Summerside Drive     $229,900      MLS # 6225159     Status: Pending

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.

TxDot Brings I-69 TTC (Trans Texas Corridor) Sales Pitch To Katy Texas

Katy residents are invited to a public hearing on February 26th at 6:30 PM to discuss the I-69 draft environmental impact statement.  The meeting will be held at the Katy High School Performing Arts Center.  An open house is scheduled at 5:00 PM prior to the public hearing.

I-69 is part of the state's proposed 4000 mile, multi-use future transportation system being touted by Governor Perry and TxDot.  The controversial and complex system would have numerous lanes for cars, trucks, and rail lines.  The mega project would take an estimated 50 years to develop but is supposed to meet our future needs according to Governor Perry.

The public private venture calls for investment by outside parties who would help pay for the infrastructure.  Those private sector investors would then recoup their investment by collecting revenues from tolls.  If you are wondering about the possibility of increased foreign ownership of American assets and double taxation, you are not alone!  It appears that TxDot has created yet another way to empty Texans pockets.  This time, however, the reach will extend much further.  The land grab that would be associated with the TTC monster would dwarf any previous eminent domain usage.

Since we as taxpayers are footing the bill for TxDot to come speak with us, I encourage you to take advantage of the opportunity to provide your input.  If you want to get a decent parking spot, I suggest you arrive early!

For more information about the TTC, I-69, and the issues surrounding the attempted TxDot land grab visit www.corridorwatch.org.

You can also visit the Texas Department of Transportation at: http://www.dot.state.tx.us/

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.

President Signs Economic Stimulus Package and Higher Conforming Loan Limits In High Cost Areas

President Bush today signed the economic stimulus package, H.R 5140, with the provision for higher conforming loan limits intact.  The legislation provides for a temporary increase in the conforming loan limit up to $729,750.  Fannie Mae and Freddie Mac will be allowed to buy loans up to $729,750 that were originated between July 31st, 2007 and December 31st, 2008.  This is an increase from the previous limit of $417,000.  The move will also allow FHA to insure loans as high as $729,750 in more expensive markets.  The temporary Houston area FHA loan limit will be 271,050.

The bad news for Texas residents is that the new conforming limits won't be available based on MSA (Metropolitan Statistical Area) averages.  Texas still has some of the most affordable housing in the nation.  Houston area residents will be able to take advantage of the FHA increase of $271,050 through January 2009.

Click here to view recent MSA home price data in the U.S.  Download msa_home_prices.pdf

For the official press release in print or video you can visit www.whitehouse.gov

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 Debt Relief Act of 2007 Making It Easier For Strapped Borrowers To Walk Away

More and more home owners in bubble states like Nevada, California and Florida are choosing to walk away from their mortgages.  Faced with the reality of falling home prices and ballooning mortgage payments, owners are choosing to pay credit cards and car payments and wait for the foreclosure notice.

The Mortgage debt relief act of 2007 has created a 3 year window in which home owners can walk away from the mortgage without any fear of being taxed on the deficiency that might otherwise be owed to the bank if the property sells for less than the original mortgage amount.  With all the no-down and interest only mortgages that were originated in the last few years it's not surprising that we are seeing a surge in defaults, particularly with investor-owned properties.

While the mortgage default will likely be a black mark on the credit score for two years or more, it's not as bad as a bankruptcy.  Missing payments on multiple accounts is a bigger blow to a borrower's credit score than a single foreclosure.  If you had little or no money invested in the first place, it doesn't make sense to keep pouring money into a depreciating asset.

For more information about the Mortgage Forgiveness Debt Relief Act of 2007 you can visit this link:

http://www.whitehouse.gov/news/releases/2007/12/20071220-6.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.

Cinco Ranch, Seven Meadows, Grand Lakes & Avalon See Price Gains in January 2008

Prices in the master planned communities of Cinco Ranch, Seven Meadows, Grand Lakes and Avalon continued their upward trend in January.  The average price of a home in this area of South Katy was well above the $300,000 mark for January 2008.  Unit sales were off about 18% compared to January 2007, but price per square foot was relatively unchanged.  South Katy as a whole saw a 30 % drop in unit sales in January 2008 but a healthy 5.7% gain in price per square foot compared to year ago January numbers.

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.

160 Acres, Ranch, Land For Sale in Pattison Texas, Waller County, FM 359, Clapp Road

160 Acres +/- of multi use property in the heart of Pattison Texas.  Rolling to flat pasture includes two ponds, native grasses and scattered trees.  Clapp Road side of property is a beautiful location for home site or leisure ranch retreat with 1700' of frontage.  225' of frontage on FM 359 next to fire department is an ideal location for a commercial pad site.

Clapp Road & FM 359     $2,400,000      MLS # 3899746     Status: Available

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.

Metro Adds Park & Ride At 222 W. Grand Parkway In Katy Texas

The Metropolitan Transit Authority has expanded its service in Katy with the addition of a new Park & Ride.  Direct service between Grand Parkway and downtown will be offered for $3.50.  Buses will depart every 15 minutes between 5:30 and 8:15 AM and return every 15 minutes between 3:30 and 6:30 PM.  Parking is free when using a Metro Q card.

For more information visit www.ridemetro.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.