I love this photo and immediately thought it would be a great analogy for the recovering real estate market. Steadily and most assuredly the Katy real estate market is making great strides.

Certain areas of Katy, especially those houses south of I-10, are experiencing a very competitive market. In most sections of Cinco Ranch, it is not a buyers market.

Public perception seems to lag behind the current market movement. Sometimes a buyer has to lose several houses when they make low-ball offers before they enter into competitive negotiations.

To tour Katy homes and work with a Realtor who can assist you in selecting a home, navigate repairs and negotiations, call me at 713-818-2404. I have sold Katy real estate for over 21 years. Experience does count!

Beazer Homes, an Atlanta based builder, recently closed on 209 acres on FM 1463 for a development to be called Churchhill Farms. According to The Houston Chronicle,  ”Named after the founder of Fulshear, Churchill Fulshear, Churchill Farms will have 550 lots, more than 40 acres of open space, a 10-acre lake and a community pool and clubhouse.” The first model homes are scheduled to open in January 2012.

The Cardiff family, one of Katy’s oldest families, retained this last tract of the old family homestead. The land was purchased by the Cardiff family in 1924 and recently sold to Beazer.

The Chronicle went on to say, “Homes will range from $150,000 to $250,000, depending on the lot sizes. The smaller lots are targeting single professionals working in the Energy Corridor in west Houston or medical professionals working in the hospitals along I-10. The larger lots will likely house move-ups.”

Beazer has announced that preliminary plans include 16 acres of retail and commercial development.

To tour Katy or Fulshear homes and work with a Realtor who can assist you in negotiations, call me at 713-818-2404. I have sold Katy real estate for over 21 years. Experience does count!

About today’s real estate market:

Courtesy of federalhousingtaxcredit.com

It seems like every time we turn on the evening news or read a newspaper headline, the bad news deepens our fear and concerns about the economy. With the news media in full throttle, using terms like “meltdown” and “crises”, it’s easy to see why you might lack confidence in buying and selling a home.

We have to remind ourselves that the media reports negative news, not positive. Their key objective is to pull in an audience and advertisers, not to make you feel good about yourself. They announce the unemployment rate rising despite the fact that millions of people are still working, making money, eating at restaurants and even buying and selling homes.

Are we really spinning out of control? Let’s look at the facts remembering that Katy is far ahead in financial recovery than other parts of the nation. The following data in based on national averages:

• The U.S. Gross Domestic Product is greater than Japan’s, Germany’s and China’s combined.
• Approximately 30% of American homes are owned free and clear and do not have a mortgage.
• Of the 70% that do have a mortgage, a full 96.7% are not in foreclosure.
• When mortgage rates fall to a record low, housing affordability surges to a record high.
• The Housing Affordability Index is at the highest level of affordability in history.
• First time home-buyers have more flexibility when entering into the real estate market because they aren’t concerned about selling another house. Given the low home prices, plentiful supply and low interest rates, its an optimal time for first-time buyers with a long-term view.
• First time home-buyers can get a tax credit for as much as 10% of a primary residence purchase up to $8000.
• If you own a home that doesn’t meet your current needs or you prefer to be in a different neighborhood, it’s the time to take advantage of so many homes in inventory. It’s a perfect time to find a home you love!
• If you are an investor, in certain areas, houses are on “sale”. If you are looking for a long-term investment in real estate, than you should be looking now. With the built in discount on interest rates and housing prices, smart investors can hold onto the property to build equity and long-term wealth.

  For information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404.I have specialized in Katy real estate for over 20 years. Experience does count!

PathFinder Energy Services, Inc., a Houston based company, has announced it has begun work on their new corporate location in Katy.  The 34-acre site is located near the northwest corner of Colonial Parkway and the Grand Parkway on the north side of I-10. The site is adjacent to the 800,000 square-foot 99-Cents-Only warehouse.

This influx of PathFinder employees to the Katy area will be a boon to Katy real estate particularly to homes on the market.

According to The Houston Chronicle, “The firm anticipates spending more than $20 million on the technology center. Plans are to build a two-story facility and other buildings for a total of 225,000 square feet of space.”

Quoting PathFinder’s website, PathFinder is “one of a few companies worldwide that currently has the technological capability to offer a full complement of logging-while-drilling products and services.”

The Houston Chronicle continues, “PathFinder specializes in logging-while-drilling tools <that> provide real-time data about the physical properties of down-hole formations. In addition to indicating the possible presence of hydrocarbons, this data also assists in improving drilling performance.”

The new corporate location is anticipated to open in mid-2010. It will consolidate staff from several existing Houston-area PathFinder offices bringing real estate buyers to Katy.

For information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404.I have specialized in Katy real estate for over 20 years. Experience does count!

Recently, the Katy Area Chamber of Commerce visited the David Weekley “Hansboro” model in Firethorne and enjoyed a “Business After Hours” event. A large group of members, approximately 90 people, attended the reception. It was quite the honor for David Weekley as it was the very first time that a Firethorne homebuilder has hosted such a Katy  Chamber event.

The 1,400-acre Firethorne master-planned community,  where the vibrancy of West Houston meets the small-town charm of Fulshear, is located in the acclaimed Katy Independent School District. It features 150-acres devoted to parks and recreational amenities including a 12-acre lake with surrounding greenbelt. There is also a sports field, hike-and-bike trails, parks and playgrounds. One of the nicest features is a wildlife observation area and a natural bird habitat–unique features for a Katy development.

Guests were complimentary of the David Weekley model and enjoyed the flow between rooms so accommodating for such a large group of party-goers. Sandee Horton, Senior Sales Consultant for David Weekley,  is pictured in the accompanying photo. From left-to-right in the photo are Stan Stanley of the Katy Area Economic Development Council, Sandee Horton, Realtor Rick Henderson, and Shawna Radke, another David Weekley Sales Consultant.

In addition to David Weekley, the Firethorne builder team includes Coventry Homes, Highland Homes, Partners in Building, Perry Homes and Plantation Homes.

It is always best to purchase new construction with the help of a Realtor; it will not cost you anything and it will give you the protection of a professional to look out for your best interests. This is very important. Contact me, I have special buyer incentives.

For more information about Firethorne homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404. I have specialized in Katy real estate for over 20 years. Experience does count!

Don’t believe everything you read or hear. Yes, the national economy seems to be in the toilet but, happily, Katy continues to defy dire predictions!

Although many Houston commercial developments have been canceled, Katy will soon be home to a major real estate project, Katy Main Street. The mixed-use project will occupy 86-acres located at the southwest corner of Interstate 10 and Pin Oak Road in Katy. Plans for Katy Main Street were unveiled by Katy’s Economic Development Council.

Occupants will include  entertainment, retail and office space. Specifically, there will be speculative retail space as well as several pad sites for a bank and restaurants.

The anchor store is a high-end grocery store, the name of which is still being kept under wraps. I am thinking maybe Central Grocery or Rice Emporium but keeping my fingers crossed for Whole Foods! What would you like to see?

Commenting on the grocery store, “It’s a very nice, high-end, well-known brand,” says J. Troy Maxwell, a principal with Woodcreek Development Co. Woodcreek and BPI Realty Services Inc. are developing Katy Main Street in a 50-50 partnership.

There will also be a full-service hotel and a convention center. Walgreen’s Co. has leased a space in the first phase of Katy Main Street; this initial portion of the real estate development is being built across the street from Katy Mills Mall.

Infrastructure for all of Katy Main Street is under development. Phase One is currently being built. Phase Two is projected for 2010.

For information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404. I have specialized in Katy real estate for over 20 years. Experience does count!

Despite doomsday media reports, Katy home sales, particularly those south of I-10, are occurring at a healthy economic rate. Let’s look at the facts and figures by comparing December 2007 sales to December 2008. As you will see there is a negligible difference in the numbers.

• In December 2007, there were 133 pending sales; this is the exact same number as in December 2008.
• There were 212 actual sales in the month of December 2007 and 199 in December 2008.
• In December 2007, there were 810 houses on the market. Last month, there were 891 houses for sale.
• Monthly inventory describes how long it would take to sell the current inventory if not another house was put on the market. In December 2007 there was a 3.3 month inventory. The most current figures are 3.9 months to sell all the existing inventory.

For more information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404.  I have specialized in Katy real estate for over 20 years. Experience does count!

After the indefinite postponement of KBR’s Katy campus, Katy business leaders have looked to the new medical developments as the major vehicles to bring new jobs to the Katy area and help Katy property values recover. Thank goodness, it’s all happy news concerning the construction of Katy’s Texas Children’s Hospital, Methodist Hospital and St. Luke’s Hospital. Construction proceeds “full speed ahead”!

Despite the economic downturn, all three major Houston hospitals are committed to their ongoing construction. Texas Children’s and Methodist are already under construction and St. Luke’s is in the final phase of architectural planning. According to The Houston Chronicle, “Officials at these hospitals say a shaky economy hasn’t halted plans to proceed with the facilities, which all will serve a rapidly expanding population and community.”

Located at the northwest corner of Barker Cypress and I-10, Texas Children’s Hospital is building a $220-million medical facility on 55 acres. It will include a 220,000-square-foot outpatient care center and 295,000-square-foot inpatient hospital. It is scheduled to open in the winter of 2010.

Per The Houston Chronicle, “The Katy-area is expected to grow by 50,000 people in the next five years, according to Katy-area economic development studies, and a large percentage of those residents will be children. No pediatric hospital exists in the area.“

Methodist Hospital is being built adjacent to Texas Children’s Hospital on a 70 acres. The 192-bed hospital will include an imaging center, labor and delivery facilities and 14 operating rooms. The hospital will have open-heart capability and an emergency room. The hospital can treat 30,000 patients annually. It has a budget of $300 million. Also being constructed is a medical office building that includes cancer radiation therapy. Methodist is slated to open fall 2010.

On 28 acres at the intersection of Grand Parkway and Kingsland, the new St. Luke’s Episcopal Hospital will be built. The planned facility will be a 90-bed, four-story hospital. “The hospital will include room for expansion and growth to meet the community’s needs”, said David Koontz, senior vice president of St. Luke’s Episcopal Health Systems. Plans are being made for a spring 2011 opening.

According to The Houston Chronicle, “Over the past year, crews have laid the infrastructure and utilities, developed the roadways and prepared the land for construction, Koontz said. A general contractor will be chosen sometime in January.

“The site is ready to build and we’re looking forward to some of the landscape architecture going in in the next couple of months,” Kootz said, adding that the entire facility will cost more than $100 million to build.

The new hospitals join Memorial Hermann Katy, the first Medical Center facility to make a committment to Katy and Katy residents. Memorial Hermann Katy, which has been fully operative for quite some time, is located just northwest of The Grand Parkway and I-10.

For information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404. I have specialized in Katy real estate for over 20 years. Experience does count!

I like to joke that Katy development will grow all the way to San Antonio! Well…we are on our way. Trendmaker Development’s Cross Creek Ranch will be a huge master-planned community in Fulshear and Ryland Homes has just announced a new development, Willow Creek Farms, in Brookshire, five miles west of Katy Mills Mall.

Cross Creek Ranch will be one of the most phenomenal developments in the Katy area and will have a huge impact on area real estate. Cross Creek Ranch is unlike anything that has come to far-west Katy, technically Fulshear. I remember when Fulshear was a real country town and the only high-end development was Weston Lakes, a guard-gated development built around a natural waterway and a golf course/club house. There was a tiny grocery store and a famous bar-barbecue café that attracted Houstonians.

Cross Creek Ranch will incorporate 3,200 acres. There will be a southeastern Texas ranch architectural design in the common areas. With over 25 miles of trails along open space corridors, residents will be able to meander along the water’s edge of several hundred acres of lakes. Beautifully restored Flewellen Creek will be one of the centerpieces of the community.

Current home prices range from the $200,000′s to the $600,000′s. The first house recently sold and the owners moved in!

Directions from the Grand Parkway (Hwy 99) or Westpark Tollway: Take the FM 1093 exit and continue west approximately 5.6 miles to the entrance of Cross Creek Ranch. The community is located just west of FM 1463 on the north side of 1093.

Rumor has it that a mall will be coming to the Fulshear area, too. We need to wait and see how that one develops.

Information is still limited on Willow Creek Farm, the Brookshire development. Willow Creek Farms is Ryland’s newest community located in the highly acclaimed Katy ISD! Children in this community will attend Woodcreek Elementary/Junior High and Katy High School.

Houses range in price from $170,000′s to the $230,000′s.

The community is in close proximity to shopping, I-10, and easy access to the Grand Parkway. Willow Creek Farms will feature over 600 home sites with walking trails, a full Olympic style pool, recreational center, splash pad, and a park. The HOA dues will only be $450 annually.

Directions from I-10: Take I-10 past Hwy 99. Exit Pederson Road off I-10. Go left on Pederson. Community is off Pederson Road at 10023 Willowmoor Lane.

For information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404.I have specialized in Katy real estate for over 19 years. Experience does count!

Despite what the national media says, the real estate market, at least here in Katy, is not belly-up. Granted, there is more inventory and it usually takes several months to sell even the nicest, priced-correctly house, houses are selling and prices are stable if not what they were several years ago when we were in a frenzied seller’s market. This is a buyer’s market but not a bottom-less pit where sellers are lucky to get even the most paltry offer.

We are in a safe zone, meaning we don’t know if the market has bottomed out but it is certainly less expensive than it was a year ago. Waiting to hit the very bottom is a dangerous proposition, just ask anyone who has rolled that dice in the stock market. Wait and wait and wait to buy and prices can go up without a warning. Once the market bottoms out, there is swift upward turn.

In these volatile economic times, almost anything can spur an adjustment in the housing market. Today, interest rates were lowered; this should be favorable for sellers. As the stringent credit qualifications of the last several months relax, there will be more buyers competing for the existing inventory.

The market will adjust itself; it always does. Professional prediction is that we are looking at an even market that doesn’t favor either sellers or buyers. Nobody can calculate when this change will occur. It is certainly one of the goals of the economic bailout. The housing market is a prime indicator of our nation’s economy.

For information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404.  I have specialized in Katy real estate for over 19 years. Experience does count!