During the 26.5 years I’ve lived in Katy , there have been reoccurring rumors that the downtown section of Buffalo Bayou will be transformed into a tourist mecca a la San Antonio’s Riverwalk. I’ve seen the plans in the newspaper, even way back when we had two daily papers.
TV stations have touted the “upcoming” developments. Real estate investor/developers have been paraded before the media. Will we ever see the Buffalo Bayou Riverwalk? Fat chance, that’s my take on the project and I’m sticking to it!
Similarly, periodically, there has been talk of an upscale shopping mall to built in the heart of Katy. At the time that Katy Mills Mall was announced so were plans for a Foley’s, now Macy’s, anchored mall. It was to be located directly across I-10 from Katy Mills Mall on the Read the rest of this entry »
Spoken by Julie Q. Fuelling |
The Housing and Economic Recovery Act of 2008, the most sweeping housing legislation since the Depression era, was passed by the U.S. Senate and House of Representatives at the end of last month and was signed into law by President Bush. The new law addresses various aspects of the housing downturn, including assistance for homeowners who are behind on their mortgages, federal oversight of Fannie Mae and Freddie Mac, and funding for cities to buy and fix up foreclosed properties.
Many of the provisions of the new law go into effect October 1, 2008 but for first-time home buyers who bought, or will buy, their home between April 9th of this year and July 1, 2009, there’s an immediate bonus — a tax credit of up to 10 percent of the sales price, up to $7,500. Note that this is a tax credit, not a tax deduction. A deduction is an item that is subtracted from your annual income before income taxes are calculated. A tax credit is Read the rest of this entry »
Spoken by Julie Q. Fuelling |
Katy home owners, it’s about time that the national media predicted some upbeat news about the Houston housing market!
I have always felt that negative produces negative. For instance all this coverage of “short sales”, see my article on July 24, has resulted in an unrealistic mindset for many buyers. If they can’t find a short sale, they are looking to interpret most buyers as “desperate”. This is simply not reality in Katy real estate.
Yes, our Katy real estate market is below the good times of the past but things are not as bleak as they have been portrayed. While most sellers are disappointed to find that their houses are Read the rest of this entry »
Spoken by Julie Q. Fuelling |
During the 1980’s, Houston experienced an economic down spin when oil prices dropped below their staggering high of $35-per-barrel. (Can you believe that this was the high price for oil? I remain confused as to why our economy is not currently booming considering the price of oil; can somebody explain this to me, please!)
Another huge factor was the collapse of the Savings and Loan industry due to inflated loans without collateral; criminal charges, filed against Savings and Loan officers, were not uncommon. This large source of mortgage loans went away over night. One of the first signs of this economic crisis was the appearance Read the rest of this entry »
Spoken by Julie Q. Fuelling |
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