Katy real estate is greatly affected by the oil and gas business particularly since petroleum tends to be a mobile industry. Compared to to other fields of employment, there are an inordinate amount of oil employees transferred in and out of our area at any time. This is the primary reason why there are always a lot of homes on the market in Katy, particularly on the south-side of I-10.
According to Ron Hanlen of Network Funding, there is another factor currently driving Katy real estate inventory levels: Mortgage interest rates. Despite dire predictions about the impending rise of mortgage interest rates, rates have held onto historic lows, in the 4’s.
Ron said, “Once the tax credit expired, everyone expected that listings would go down. But they haven’t…they have gone up. With all of the negative media attention on housing it would be easy to consider that it is because the sellers are distressed in some way. Maybe they lost their job or they are trying to sell the home before it goes into foreclosure.
But here is the real reason why listings are up: Interest rates are at an all-time low. Despite the constant bombardment of negative media coverage, the vast majority of existing Read the rest of this entry »
Spoken by Julie Q. Fuelling |
According to CNN News, the homebuyers tax credit has been extended; the bill now goes to President Obama for signature:
“The legislation would extend the $8,000 homebuyer tax credit to contracts signed by April 30, 2010 and closed by June 30, 2010. The controversial credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.
The bill also creates a $6,500 credit for those who buy a home after living in their current house at least five years. That measure would apply to contracts signed by April 30 and closed by June 30. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.
The credit would be available only for the purchase of principal residences priced at $800,000 or less.
The bill would raise the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.”
I am a Katy Specialist having sold many houses in Katy over the last 20 years, both new construction and resale. This includes both working as a listing and selling agent. Call me for more information and for outstanding professional representation.
Spoken by Julie Q. Fuelling |
Want an extra $8,000? If you’re a first-time homebuyer, you’re in for a nice gift.
Last fall, the Federal Government introduced a financial incentive to prospective first-time homebuyers, an income tax credit of up to $7,500. The rules were simple: You must have been a first-time homebuyer, (as defined by not owning a home in the previous three years), and you met certain income restrictions.
The new $8,000 tax credit is available to those who buy between January 1, 2009 and December 1, 2009. It’s not a deduction, it’s an actual credit. Unlike Read the rest of this entry »
Spoken by Julie Q. Fuelling |
Later this week, I will be at the closing table with a young couple who are purchasing their very first home. They have been delightful clients to work with and it will be an honor to sit with them as their dream comes true and the keys are turned over. Although I have sold real estate for 19 years, there is always something so special about helping first-time buyers.
Despite economic bleakness and the panic mode that has ensued, it is a buyers market and a great time to buy! My clients steadfastly proceeded in their pursuit of this most basic and universal American dream, a home of their own. Confident in their job security, with a sound down payment saved, good credit and the desire to change their lifestyle from apartment dwellers to home owners, we set out on our shared journey to find the right home.
It was not without pitfalls. There was a time of frustration when a house they bid on, a beautiful resale home, was swept out from under their offer by a higher bid. Read the rest of this entry »
Spoken by Julie Q. Fuelling |
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