The MyHomeHouston Blog

Getting A Loan Just Got Tougher: Fannie Mae Changes Debt To Income Ratio

Friday, December 4th, 2009 at 2:23am. 793 Views, 0 Comments.

So the government is offering an 8k tax credit to help the real estate market recovery. There have been a lot of debates back and forth about whether the government should be spending this much money to help bolster the troubled real estate market. I don't want to get in to those arguments here. Suffice it to say that the 8k tax credit is very expensive but at the same time it is helping the housing market. So why would the government spend all this money and at the same time allow rules to be put in place which would effectively negate some of the positive impact of the tax credit.

Fannie Mae recently announced changes to debt to income rules. The debt to income ratio is basically how much debt payments one can have a month compared to their income.

Houston Real Estate Sales Surge in September

Tuesday, October 27th, 2009 at 8:39pm. 315 Views, 0 Comments.

Seasonally adjusted Houston home sales rose drastically in September. There were 5,315 sales in September 2009. That is up from 4068 in September 2008 (a rise of 31%). In August 2009 there were 5,478 sales this was down 12% from the year before. While the national real estate market seems to be improving Houston seemed to do especially well this month. If we look at the year to year sales in different markets we see

In another encouraging sign active listing were down 16% from a year ago.
The question of course if this will last. Along with the country the Houston real estate market has benefited from a combination of low mortgage rates and a number of local and nation…

Master Planned Communities and Zip Codes

Thursday, August 13th, 2009 at 9:43pm. 1073 Views, 0 Comments.

We added a couple of additions to the site yesterday: a list of all the master planned communities in Houston, and a page dedicated to detailing most of the major zip codes in Houston.

Master Planned Communities

Houston has quite a bit of these types of communities.  They're not too much different than regular communities, except that they're usually planned from the get-go rather than randomly built on like subdivisions used to years ago.

A new town, planned community or planned city is a city, town, or community that was carefully planned from its inception and is typically constructed in a previously undeveloped area. This contrasts with settlements that evolve in a more ad hoc fashion. - Wikipedia

$20,000 Off Lots in Swan Landing

Wednesday, August 12th, 2009 at 12:45pm. 1120 Views, 0 Comments.

Looking to live in Swan Landing off the Gulf Coast?  It's not really our market, but we just received word of a promotion they're offering, and we wanted to pass it along to our readers.

If you're looking to visit Swan Lakes soon, be sure to call us at 281-213-0032 to let us know.  We'll call ahead and let them know you're coming for the lot promotion.

Even Better - Take another 1.5%* off for You

They're offering us higher commissions on these properties as well, so we can afford to pass along even more savings to you.  Not only will you get $20,000* off your lot, but you'll also get a rebate of 1.5%* of the sales price our commissions are based on to use towards closing costs or upgrades.

Contact us online or give a call at 281-213-0032 if you're…

The Nicest Parts of Houston

Wednesday, August 12th, 2009 at 12:09pm. 620 Views, 0 Comments.

We get asked this question a lot.  "Where are the most desirable places to live in Houston?".  It's a really tough question to answer, because I instinctively want to answer that question from my point of view.  However, it's important to remember that what may be nice to me, may not be nice to someone else.

Staying objective is one of the primary concerns for a real estate agent.  I'll provide some numbers, market information, school reports, crime statistics; anything you'd like. Nonetheless, at the end of the day, it's never an answer I can give you because it'll always be my opinion, and not an objective answer you need.

I'm curious of what you think.  What parts of Houston do you consider the nicest places to live?  Which are the most desirable?…

Latest Community Page - Pearland

Wednesday, August 12th, 2009 at 12:00pm. 157 Views, 0 Comments.

We've just released a new page dedicated to Pearland; a suburb South of Downtown Houston.  We've dedicated this community page to showcase homes for sale in the various communities in the area, along with a bit of information on schools and market information.

I think that pretty much covers the major communities in and around Houston.  We're going to start concentrating now on showcasing many of the communities within these suburbs, focusing more on new communities under development now.

The Woodlands Single Family Market - Year to Date Charts

Tuesday, August 11th, 2009 at 11:12pm. 173 Views, 0 Comments.

I'm going to start keeping track of various markets in Houston.  There's one thing I love; charts!  The charts below will update you on The Woodlands real estate market for single family homes.

As you can see, 2008 was a better year than this year so far.  Home prices have fallen, thus resulting in a lower price per square foot across the board.  Fortunately, the demand for homes hasn't changed a bit since you see about the same number of homes selling this year than last.

I plan to do the same charts to analyze the townhome & condo, and rental market in The Woodlands.

The Woodlands July 2009 Market Report

Tuesday, August 11th, 2009 at 8:00pm. 169 Views, 0 Comments.

In the month of July, The Woodlands saw a steep decrease in single family home prices, while townhomes, condos, and rental sales were strong.

Single Family

The number of homes going on the market in July were roughly the same as last year; we saw an increase of 18 more homes listed for sale on the market. 

Unfortunately, the average sales price and days on market both took a turn for the worst.  Average sales price per square foot plummetted by $16.70 down to $122.62/sqft on average for homes sold, while days on market rose just shy of 4 more days to 60 days on the market.

This tells me that single family homes in The Woodlands is seeing a decline in prices from last year, and that market has yet to make a full recovery.  The demand for homes is still…

Housing Market Facts

Monday, August 10th, 2009 at 7:17pm. 247 Views, 0 Comments.

Separating truth from rumors about the housing market can be really difficult to do.  The media has a field day with down markets.  My biggest complain is that they generalize the entire nation when it actually is very different between markets.

A website by the National Association of Realtors aims to help set the facts straight about today's housing market.  At HousingMarketFacts.com, you'll learn some key details about buying a home such as:

• The 2009 First Time Homebuyer Credit
• What this tax credit can be used on and when
• Home ownership benefits
• Detailed market research

You'll also find a archive of videos that is useful to buyers; it helps get the mind on the right track when buying a home.  When you have some spare time today, stop by the site and let me…

Gorgeous Community in Cypress - Lakes on Eldridge

Monday, August 10th, 2009 at 11:23am. 199 Views, 0 Comments.

I'm surprised we haven't dedicated a page to Lakes on Eldridge much, much earlier. This wonderful community is one of the most looked up subdivisions in Houston. It's located in Northwest Houston, in Cypress, and feature gorgeous lakes, plenty of amenities, and a location close to major highways, shopping, dining; you name it.

Homes in this community start in the high 200's, and progress into the Millions for custom estate homes built on premium lots. The community is split into various sections; our map can help you gain your bearings.

If you know someone looking to live in Lakes on Eldridge, we'd love to help them find a new home there. Simply contact us at your next opportunity and let us know how we can help.