Aaron Layman's Katy Texas Real Estate Forum

Seven Meadows Swim Team SMST Registration Ends April 6th

The Seven Meadows Swim Team SMST will kick off their 4th season this spring.  Interested participants can register through April 6th.  Volunteer positions are still available.  For more information visit the SMST website.

Spring Is In The Air In Katy Texas

After what seems like an unusually long winter this year, the plants are finally starting to bloom again.  Unfortunately for many Katy home owners, not everything has come back to life.  Some of our favorite tropical plants didn't fare too well in the twenty degree temperatures this winter.

That means its time to get out the gardening tools and get to work replacing dead landscaping, and sprucing up the landscape.  New plants, and fertilizer for the lawn should have most Katy area yards looking green again.  Local nurseries are likely to be very busy this spring break with so many homeowners working on their yards.  Many lawn service companies have been piling on the mulch again in what has become an annual ritual.  Remember to be kind to your trees and take it easy on the mulch volcanoes.

If you're planning on selling a home, a little attention to detail will go a long way when it comes to your bottom line.  Good landscaping will certainly add value to your home, and bad landscaping can prevent some potential buyers from even looking beyond the front door.

Katy Texas & West Houston Real Estate Market Update - February 2010

Katy home prices saw a surprising jump for the month of February compared to year-ago levels. Both South Katy and North Katy experienced year-over-year gains during the month although actual sales were off by a significant margin in area 25.

The jump in average prices is likely a direct reflection of the tight  inventory levels in the area.  Inventory in area 25 currently stands at 4.9 months, while South Katy currently stands at 3.5 months, one of Houston's tightest markets in terms of supply.

With the tight inventory levels, it's no surprise that sales of distressed property showed little change for February.  The foreclosures that do hit the market are selling quickly, and short-sale listings are still taking time to move as banks drag their feet.

Houston MLS numbers showed that the upper end of the market posted strong numbers, with homes priced at $250,000 or more increasing by double digits while overall sales slid by 5.8 percent.

CATEGORIES FEBRUARY 2009 FEBRUARY 2010 PERCENT CHANGE Total property sales 4,030 3,843 -4.6% Total dollar volume $710,696,861 $747,032,015 5.1% Total active listings 44,747 46,658 4.3% Total pending sales 3,227 3,168 -1.8% Single-family home sales 3,450 3,251 -5.8% Average single-family sales price $180,966 $203,271 12.3% Median single-family sales price $138,000 $147,000 6.5% Months inventory* 5.9 6.3 7.5%

Shopping For Elecricity in Katy, Houston Texas

It's time for this Realtor/blogger to shop out the electricity plan for our Katy home.  Our fixed rate plan is set to expire in the next month, so I thought I would check current rates in the Houston area.  The big name carriers continue to be some 20 to 25 percent above the competition.  I've been hearing ads from TXU lately about their fabulous fixed rate plans (no variable rate plans from TXU), but their fixed rates are all high.  Centerpoint, our local transmission provider, is even higher.

Electric Provider	KWh Price For 12 Month Fixed Rate
Mega Energy	10.6
Spark	10.8
Gexa	10.9
Reliant	13.4
TXU	12.7
Green Mountain	13.4

While shopping for a plan, I was looking for a provider with a good 12 month fixed rate and reasonable complaint statistics.  It looks like this year's winner is going to be Mega Energy.  They are one of the newer companies in the area, but they seem to be offering some of the best rates and also have one of the lowest levels of complaints.

Prices for solar panel modules continued to fall in the first quarter of 2010.  I recently priced out a 4.8 kW grid-tie system for only $3.54 per watt.  The cost of the system was under $12,000 after the 30 percent federal rebate.  If we see similar price reductions in the market going forward, the argument for going solar will be too compelling to resist.  Things are shaping up such that I hope to pull the trigger by fall and make a sizable dent in my electric bills.

Home Affordable Refinance Program (HARP) Extended Through June 30 2011

After evaluating the state of the nation's current housing market, Federal Housing Finance Agency director Ed Demarco said, "FHFA has reviewed the current market situation and the state of mortgage insurance availability and has determined that the market conditions that necessitated the actions taken last year have not materially changed."

With these comments, FHFA is authorizing the extension of HARP through June 30 2011.  They are also signaling that the mortgage market is still performing poorly and many more borrowers are at or beyond their walkaway threshold.  With LTV's as high as 125%, HARP allows moderately underwater borrowers the opportunity refinance into a better fixed rate loan with a lower monthly payment.  The HARP refinance program has been more successful than the much-maligned Home Affordable Modification program.  The extension of HARP could be a carrot to keep more borrowers paying on their mortgages.  It may also be a trade-off for the soon-to-be-expiring home buyer tax credits.