In JUNE, home sales were only down 7.2% compared to the year before, and inventory was up 5.6%.
We project a strengthening real estate market in The Woodlands as this year progresses.
There are some big changes in the Appraisal World.
(With all of the above in mind, it seems strange that the new code does allow the fully executed purchase agreement to be provided to the appraiser as part of the appraisal assignment!)
What does this mean to you? No longer can a seller "test the market" to get a better price than a neighbor got 6 months ago. Even if you were to have multiple offers at that price, your buyer might not be able to get a loan, because the appraisal would be strictly based on very recent past sales.
The appraiser CAN still confer with your Realtor, however, so if you are planning to sell your home, be certain that you use a Realtor who has an excellent understanding of the local market, particularly in complex areas like The Woodlands, and who is able to provide the appraiser with the information to confirm your home's value.
Hiring a knowledgable Realtor has always been important. Now it is vital!!
If you like a superlative dinner and great musical entertainment,
this is THE place!!
* Gary Clark writes the weekly nature column for the Houston Chronicle and the San Antonio Express News. Be sure to look for his article every Saturday in those newspapers!!
BUT easier than that, you can just log onto www.thewoodlands.net to register for all the discounts! (Look for the large icon on the right.) Once you register, you will receive an e-mail each week with a surprise discount offer. Print out the e-mail and take it with you to participating Waterway Square restaurants. This is a fabulous place to live, work ...... and dine!!
How will you recognize the Western Ribbon Snake? It's a very thin snake, although it can be as long as 30 inches. It has a yellow or orange stripe down the center of its back, and two creamy light-yellow stripes on the sides (separated by two wide, black stripes along the back). The head is black with a yellow or orange spot on the top, and it's belly is cream-colored or very pale green. Beautiful!! As with most snakes, this gardener's friend is completely harmless, and will happily slither away!
It's getting a little rough out there!! Lenders are reviewing credit scores more closely, asking for more and more information (sometimes right up to the closing!), and appraisers are following much tighter guidelines. Forewarned is forearmed, as you know, so our blog will give you information as it happens, or tips about stuff that's already changed!
Brand new! If you are getting a "conventional" loan (less than $417,000, and not VA or FHA), and you are putting less than 20% down, you will be required to have Private Mortgage Insurance (PMI). That is not new. What IS new is that one PMI company (and others will follow soon) is requiring a minimum credit score of 680 on all applications received after July 6th. In addition, most PMI companies are limiting the debt-to-income ratio to 41% to 45% (i.e., all of your debts, including your mortgage payment, cannot exceed more than 41-45% of your gross income.) (Information provided by Sue Izard, Woodforest Mortgage Company)
It's important that you know what your credit score is! You can do this for FREE once a year by clicking onto the link provided to the right. Happy House Hunting!!So grab your picnic basket and your camera (with azaleas, irises, lantana, Mexican bush sage and more, there are great flower opportunities here), and enjoy! (Information from The Woodlands Development Co.)
It's no wonder that they are endangered -- how fussy can you be?! The Red-cockaded Woodpecker makes its home in mature pine forests, preferably longleaf pines. While other woodpeckers bore out cavities in dead trees where the wood is rotten and soft, the Red-cockaded Woodpecker is the only one which excavates cavities exclusively in living pine trees. The older pines often suffer from a red heart rot which attacks the center of the trunk, causing the inner wood, the heartwood, to become soft. Cavities generally take from 1 to 3 years to excavate! The woodpecker drills a number of small holes around the nest, allowing sap to run as a protection against snakes. (The tree can look like a dripping candle! - a great way to spot their nest). These cavities provide homes later for a number of other birds and wildlife.