Ever since the “Katy Sun” did an interview with me, and it was picked up by the “Houston Business Journal”, on foreclosures and short sales, my phone has been ringing with investors wanting to buy properties. One thing I have to do, in most occasions, is explain the Freddie Mac First Look Initiative:
Freddie Mac offers homebuyers and select non-profits an exclusive opportunity to purchase HomeSteps homes prior to competition from investors through the Freddie Mac First Look Initiative program. This on-going initiative offers owner occupant homebuyers, Neighborhood Stabilization (NSP) grantees and non-profits engaged in community stabilization efforts the ability to purchase HomeSteps homes during their initial 15 days of listing without competition from investors.
The initiative supports Freddie Mac’s mission to stabilize communities and support housing recovery through the creation of affordable home-ownership opportunities.
How does the initiative work? During the first 15 days a home is listed for sale in the Multiple Listing Service (MLS), HomeSteps will consider purchase Read the rest of this entry »
Spoken by Julie Q. Fuelling |
Foreclosed and foreclosing properties dominate many of today’s U.S. real estate markets–more than four years after the sharpest observers saw the market shift coming, and more than two years after the reality hit home for millions of American home owners.
While Katy is not suffering like other areas of the country, the number of foreclosures in our hometown has grown substantially. (Pictured above are two foreclosures currently on the market.)
First-time home buyers make up almost half of all buyers of bank-owned foreclosures and soon-to-be foreclosed short sale properties. They’re followed closely by investors seeking rental properties, and a third important group—homeowners who find they can move up to a bigger or better home they previously could not afford.
The truth is: These markets demand most of the same things an ordinary Read the rest of this entry »
Spoken by Julie Q. Fuelling |
Today, I am launching a new feature on Katy foreclosures which are also known as HUD (Housing and Urban Development) homes. With an informed Katy Realtor, they are easy to purchase and usually represent substantial savings. They are priced to sell quickly.
Every HUD homes is sold via a 10-day open bid process. It is critically important that the bid be prepared correctly or it will be rejected regardless of the price offered.
If you are looking for a Katy Realtor with whom to explore foreclosure homes, I am certified by the National Association of Realtors as an expert in short sales and foreclosures. I hold the specialized designation of Short Sale and Foreclosure Resource.
This week I am featuring a house in Katy Creek Ranch, see above. It was built in 2007 and has 3 bedrooms and 2 baths. It is listed at a price of $127,000. Unlike some foreclosure properties, this house is described as being in excellent condition.
There are many others on the market; I can help you with any foreclosure.
For a tour of this property, contact me or call me at 713-818-2404. I have sold Katy real estate for over 21 years and would love to share my expertise with you.
Spoken by Julie Q. Fuelling |
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 |
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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