Welcome to The Woodlands Real Estate Voice
"The Woodlands" by Lubomira Soroko posted on Google Earth
The Woodlands Real Estate Voice is a collaboration of voices from the The Woodlands real estate market. Please subscribe by email and read daily posts about local real estate matters and experiences. We invite you to join the conversation by making comments on posts and sharing your voice.
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(all the homes listed in The Woodlands and nearby areas)
And The Winner of the Keller Williams Toy Drive is…..
The Chappell Team would like to congratulate Stephanie Jarrell of the Village of Sterling Ridge on winning the Flip video camera! Stephanie was generous enough to donate a toy for the Salvation Army’s annual Christmas Toy Drive which is supported by Keller Williams Realty, KHOU 11 and Randalls. We would also like to send a big Thank You to Wal-Mart in Sterling Ridge for being so gracious in letting us set up camp in front of the store. Read the rest of this entry »
Read what Sue Izard had to say about what’s happening with homebuilder incentives in The Woodlands and United States???
Developers/Builders Beware: New RESPA Limitations on Homebuilder Incentives will Require Changes to Procedures and Contracts
(Effective 1/16/2009)
For many years, it has been common for homebuilders and developers of condos and other residential real property to offer incentives to buyers to induce them to use preferred or affiliated title agencies and affiliated mortgage companies. Sometimes, these incentives were substantial, exceeding $10,000 or more. However, developers that offer those incentives after January 16, 2009 will violate the federal Real Estate Settlement Procedures Act (12 U.S.C. �� 2601 et seq.), commonly known as RESPA. These RESPA violations can result in civil penalties as well as criminal prosecution.
The final rule including these amendments is available online at http://www.hud.gov/offices/hsg/sfh/res/finalrule.pdf. Most of the amended rule applies to changes in the forms of the Good Faith Estimate and the HUD-1/HUD-1A settlement statements that become effective January 1, 2010. As a result, the changes to the required use provisions affecting homebuilder incentives have not received much public attention.
Keller Williams Toy Drive at Wal-Mart in Village of Sterling Ridge
Okay, Tis the season to be jolly and it’s also the season to be giving! The Salvation Army needs our help people! Let’s pull together as the strong and wonderful community that we are and give back to those in need! The Woodlands is known for it’s family- loving environment and what better way to show that our reputation is just that than by donating to families in need at Christmas time! I encourage you…no, I DARE you all to come out on Monday, December the 22nd from 12-5pm and donate an upwrapped toy at the Wal-Mart in Sterling Ridge located off of Woodlands Parkway and FM 2978! The Chappell Team of Keller Williams Realty will be holding the toy drive and will be giving away a small “Thank You” gift to each person who donates a toy. You don’t even have to wrap it! How easy it that! No excuses….come and see us this coming Monday! Please! Help us make someone’s Christmas a Merry Little Christmas!
Just look for our table with the large KHOU 11, Salvation Army box!
I look forward to seeing you there!
Interfaith of The Woodlands- The Chappell Team needs your help!
This Christmas let’s pull together as a community and help make Christmas special for those who are in need! The Chappell Team will be taking donations to the Interfaith Food Pantry again this year and we need your help! If you would like to make a donation, please stop by our office at 8111 Ashlane Way in Sterling Ridge, ask the receptionist for The Chappell Team, and you will receive a “Thank You” gift from us.
If you can’t amke it to our office, please give us a call at 281-863-9134 and we’ll be more than happy to come pick up your items and bring you your “Thank You” gift. Your donations will help families in need in our are to have a Happy Holiday this year. Last year, more than 8,500 individuals received food from Interfaith.
Together we can make a big difference in alleviating hunger in the South Montgomery County area!
Happy Holidays & Best Wishes for a wonderful 2009!
The Chappell Team
Elizabeth Chappell, Teresa Kennedy, Ann Dee Brahms, Kim Kindred and Lisa Steck
The Mortgage Market Guide by Sue Izard of Woodforest Mortgage- The Woodlands TX
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Last Week in Review |
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“What happens in Washington doesn’t stay in Washington.” And that was especially true last week, as the effect of Congress’ actions regarding the U.S. automakers rippled out into the markets. Bonds and home loan rates spent last week testing their previous best levels of 2008, and finally rallied on Friday to reach their best levels not just of 2008 but of the last five years. Stocks, meanwhile, were under pressure throughout the week waiting to see whether Congress would approve emergency loans for GM and Chrysler. While the House of Representatives approved the measure Wednesday evening, the Senate rejected the $14 billion bailout for the US automakers on Thursday evening, citing a lack of wage concessions by the United Auto Workers (UAW). Friday, the White House announced that the government may be willing to use Troubled Assets Relief Program (TARP) funds to prevent an immediate collapse of the auto industry. One thing we can be sure of in this matter is that the volatility for both Stocks and Bonds will continue while this issue remains unresolved. |
Buyers and Sellers…who is insured and why by Scott Jones with First American Title
Title insurance has become an important necessity do to the high risk involved in buying, selling or financing real property. The policy is insured at the date of transfer of the property from one party to the other for the cost of a one time premium charge set by the Texas Department of Insurance (TDI). It is valid from that point until the property again changes ownership.
While there should be no risks in transferring property, risks do exist. Many “hidden” hazards to property ownership may show up unexpectedly in connection with the property. Any one of them could mean a costly loss or require time consuming hours to clear. Title insurance protects the buyer from damages and expenses incurred because of these possible defects. The policy also protects the seller as to warranties and representation make at the conveyance of the property. The following are a few examples of hidden problems:
So What’s The Deal With The 4.5% interest rate?
According to Sue Izard of Woodforest Mortgage:
“The Fed has indicated that they would like to be a buyer of Mortgage Bonds, which has resulted in attractive, lower rates right now. But as stated above, the trading environment is extremely volatile, and opportunities to capitalize on lower rates that make sense should be taken advantage of. There have been recent rumors of interest rates being brought down towards 4.5% by the Treasury. This irresponsible release included no definitive plan, no indication of who might qualify, or what the restrictions would be. Like many other recent legislative “solutions”, the restrictions might be very tight, with income limits set very low, and as a result, helping very few people. Remember, it may make sense for you to act now, and take advantage of current historically low rates…with the possibility of refinancing should rates decline further.”
It seems as though the government is trying to help things bounce back by either starting some really good rumors or by really lowering the interest rates for first time home buyers!
KHOU 11 and Keller Williams Toy Drive in The Woodlands, TX
Tis the season to be jolly…and giving! There are hundreds of families this Christmas that need our help in making their Christmas a joyous one. This season Keller Williams The Woodlands and Magnolia, Salvation Army, Randalls and KHOU 11 are joining forces and hosting a Toy Drive. Please drop off any unwrapped toy at any Keller Williams office and make a difference in a child’s life! Keller Williams has 2 locations in The Woodlands and 1 in Magnolia. The Woodlands locations are 1401 Woodlands Parkway and 8111 Ashlane Way in Village of Sterling Ridge. If you stop by the Sterling Ridge office please be sure to let The Chappell Team know and we’ll give you a special “Thank You” gift!
The Ice Rink at The Woodlands Town Center
It’s been 10 years since The Ice Rink at The Woodlands Town Center first opened it’s winter wonderland to our beautiful community! One of the largest outdoor ice skating rinks in the southwest nothing has changed about this fun family filled adventure except for the location. Formally located right on the corner of Six Pines and Lake Robbins it has now moved to Six Pines and The Woodlands Waterway!
Breakfast with Santa in The Woodlands
Ah, there’s nothing like Jack Frost nipping at your nose or the fa la la la la of a Christmas caroler at your front door….unless you’ve been to Market Street in The Woodlands, Texas! With Christmas decorations on every street lamp and a 70 foot Christmas tree that is decorated with thousands of Christmas lights one feels as though they’re just on the out skirts of Santa’s home town! And although we are in the south and not the North Pole we do have a very special visitor coming next week! Santa Claus! Read the rest of this entry »
Closing your Real Estate transactions-The Woodlands, TX
Prior to the actual closing day, there are several things you should do to be certain that your real estate transaction will close on time, and that everything will go smoothly. When you receive the final closing statement or HUD, you should go over all the calculations to be certain that your clients are given credit for all there deposits and any other credits due to them. Go over the entire lender and title fees to be sure they are what you have been quoted and that you agreed to. Check the math calculations on the closing statement. Errors do occur.
Carefully review the guarantee of title insurance, to verify the exact legal description of the property and any liens, encumbrances or other items, which may have been discovered on the property. Verify that title has the correct vesting, or the way your clients want to take title on the property. This is important because to correct a vesting on a deed later on is time consuming and can be avoided if care is taken prior to closing.
Wamu Cares – Apparently Not Anymore
Who is answering the Wamu Cares number at 3 in the afternoon? Nobody.
A couple of weeks ago, I wrote a post about the Wamu Cares program launched by Washington Mutual to engage with their borrowers who are either in trouble or facing trouble. I was impressed by their new website at www.wamucares.com that spoke in simple language about their commitment to working with their borrowers who are in trouble.
Well, that didn’t last very long. www.wamucares.com is gone and now forwards to minor page off of their contact us page. This page has dropped all of the sincere language about wanting to help and now lists different options for the various levels of pain that their borrowers are in. OK, so less fluff and more substance? Unfortunately not. Read the rest of this entry »
Trick or Treat from theVillage of Alden Bridge in The Woodlands, TX
I just have to share this wonderful photo of my two boys with their friends from Halloween! The mom’s of my street in Linton Ridge got together and we had a Trick or Treating caravan. It was wonderful! What a great place to live….the street was filled with mom’s and dad’s and their children each dressed up as either their favorite super hero (mine were batman), movie character or a scary monster of some type! My neighbor’s daughter was even dressed as the gameboard, Twister!
Politics and The Woodlands Real Estate Market
Tax and Politics and The Woodlands Real Estate
With the changing of the party of in power will come a change in tax policy so how will his affect The Woodlands real estate market? Please understand that there’s no judgment coming from this real estate guy, only curiosity.
President Elect Obama has campaigned on raising the capital gains tax rate so we can expect that this will happen shortly after his election. I think this will have a direct impact on Woodlands real estate market and it will be a good thing.
Real Estate Foreclosures in The Woodlands area
Can you create wealth by purchasing foreclosures in this market?
My answer is an unequivocal “YES”!
I watched investors snatch up foreclosure bargains in the 1980’s that resulted in millions of dollars in profit within 20 years…all while their tenants were paying down their mortgages.
Today, things are quite different – both in the underwriting of investor mortgages and in the availability of good cash-flow properties. But with the collaboration of an agent experienced in the needs of an investor, there is still a lot of money to be made by investing in foreclosures.
Brian Wilson
Kathi Frank
jonkristy
kevin Cornwell
Elizabeth Chappell
mlbroadcast
Teresa Kennedy
sueizard2
drclouthier
scottjones2
