Aaron Layman's Katy Texas Real Estate Forum

Ray's Grill Brings Gourmet Dining Option To Fulshear Texas

Ray's Grill, located in downtown Fulshear Texas, has brought a new dining option to residents of the area.  The neighborhood bar and grill describes itself as "Gourmet Country", offering high quality seasonal and organic dishes.  The menu changes four times a year, adjusting with availability of local ingredients.  In addition to offering tasty gourmet dishes, Chef Soren Pedersen offers cooking classes, wine tastings, and catered events.  Happy hour at the bar is from 5-7 every Tuesday through Saturday.  For more information on menu items or upcoming events visit Ray's Grill online.

Ray's Grill is yet another sign of the changing landscape in the Fulshear Texas area.  Upscale neighborhoods such as Fulbrook, Weston Lakes, Fulshear Creek Crossing and Trendmaker's Cross Creek Ranch have transformed the sleepy town of Fulshear into a growing suburban landscape.  The development has spurred Fulshear area residents to proactively manage the town's growth to facilitate an orderly transition of the area which will maintain Fulshear's small-town charm.  Ray's Grill isjust one piece of the puzzle in what will eventually be a new and improved downtown Fulshear.

Katy Texas & West Houston Real Estate Market - August 2009

Strong summer sales continued through the month of August in the Katy area.  While total sales volume was down some 10-20% in the area compared to August 2008, average price per square foot was little changed.  South Katy (area 36) saw an average price per square foot near $100, while area 25 was just under $60 per square foot.

Sales of newer homes continued to garner more attention than older, resale properties.  Sellers of existing homes have been forced to clean up and follow through on some of those deferred maintenance projects.  Those who have fallen behind on maintenance or failed to make important updates have been forced to make price adjustments to satisfy finicky buyers.

As the summer came to a close, one thing was certain.  The government stimulus had a noticeable affect on area housing.  Builders and other real estate trade groups have been calling for an extension of the program which is currently set to expire November 30th.  We won't get a true picture of the health of the real estate market (local or otherwise) until the home buyer tax credit comes to a close.

Grand Lakes Home Owners Association HOA Gets New Website For 2009

The Grand Lakes Home Owners Assocation (HOA) implemented an improved website this year.  Grand Lakes home owners can now go on-line and get answers to more of their questions.  GrandLakesLife is now the official address of the Grand Lakes Home Owners Association.  It contains general information about the community, as well as documents like budgets, deed restrictions and architectural review applications.  The site is still growing, so expect it to become a more informative portal going forward as more Grand Lakes residents make use of their new communications tool.

Cinco Ranch Model Home Village Sees Higher Summer Traffic, Sales In 2009

Buyers were flocking to the Cinco Ranch model home park this summer.  New home sales increased by some 13% according to MLS statistics, and average price per square foot climbed by nearly 3% compared to the summer of 2008.  With a wide range of prices available and some 28 model homes to look at, home buyers were eager to take the plunge.  Record low mortgage rates and the soon-expiring home buyer tax credit no doubt contributed to those strong numbers.

That begs the question of what will happen once the tax credit expires?  Don't get me wrong; I am excited that Cinco Ranch has fared so well this year, but I would expect the numbers to trend slightly lower as we head in to the last quarter of the year.  I have seen some recently closed sales that simply do not make sense in our current economic environment, and the artificial stimulus (tax credit) is a likely cause.

This recent CNN Money article points to a Housing Recovery Mirage and more volatility once the tax credits run out.  An article in today's Houston Chronicle points out that Houston is not immune to the economic fallout, as the city faces some tough choices about how to cover a rather large budget shortfall in 2009. Katy has continued to buck national trends, and will likely continue to do so for the foreseeable future; however, new home buyers would be wise to look at what they are actually paying for if they hope to keep their equity in their pocket.