Friday, March 11, 2011



* Closing Costs and Pre-Paids CAN be financed!!!
* Conforming loan limit to $417,000 so we’re not talking about distressed homes!
* 30-Year FIXED and Loan is assumable so re-sales are more marketable.

* Minimum Credit Score = 620 (Subject to Credit Report)
* Income Limits: $74,050 for a family of 1-4; $97,750 for a family of 5-9
* You have to be a US citizen OR eligible to work in the US and have a SS number.
* Eligible property must be your permanent residence and ALL buyers must occupy the property so this is not a program suited for investors.

Example of FHA versus USDA Monthly Payments including Principle, Interest, Taxes & Insurance:
FHA: $150,000 Sales Price = $1249.32 Monthly Payment
USDA: $150,000 Sales Price = $1186.63 Monthly Payment

If this perks your interest and you are in the market to make a move, give me a call or send an email for additional info on this valuable program.

Wednesday, January 26, 2011

Wednesday, January 5, 2011

‎3rd Annual Arbor Day

The ‎3rd Annual Arbor Day, a FREE celebration, is set for Saturday, January 22 from 10a.m. until 2 p.m. at Rob Fleming Park in The Woodlands' Village of Creekside!

Approx. 31,000 tree seedlings in eight different varieties will be distributed. The selections of trees include Bald Cypress, Flowering Dogwood, Laurel Oak, Loblolly Pine, Red Maple, Southern Crabapple, Southern Wax Myrtle and Wild Common Apple. In addition to receiving free tree seedlings, guests may register at the event to win one of five, seven-gallon native trees. The drawings will take place hourly. You must be present to win.

Tuesday, January 4, 2011

Houston's Calm Before the Storm

It was rather calm here in the last quarter of 2010 but future growth predictions for Houston indicate it’s a calm before a storm.

The Institute for Regional Forecasting (IRF) predicts that 3.7 million people and 1.5million jobs will be added to the eight-county Houston MSA over the next 25 years.

Houston will experience a growth at 2.5 percent per year between now and 2020. The population is predicted to grow to 7.4 million. At the same time, about 700,000 jobs will be created in the area, according to the IRF annual long-term forecast.

According to a new report by Veros Real Estate Solutions, Houston is expected to post the nation’s strongest home price appreciation over the next year. Houston will help Texas lead the nation in terms of home price appreciation over the next 12 months.

As forecasters often say, demography is destiny and Houston is home to 38 top-ranked companies according to Forbes. What you currently have in demography tends to grow stronger over time.

Despite these lack luster months, the region seems to possess remarkable resilience in retaining median sales price and raising the average sales price. The statistics aren’t pretty but we forget how lucky we are to be in Houston, where it doesn’t get much better than this.

Info provided by PGG


If you are contemplating a renovation, you'll want "YOUR RENOVATION HOMEBUYER'S GUIDE" put out by Gibralter Mortgage Services. As a service, they are allowing me to pass it along to anyone interested.

Included in the info is:
1. Recognizing a "Diamond in the Rough"
2. How To Get Started (i.e. lenders, inspections, etc.)
3. Others you may need to get involved such as Realtors, Appraisers, etc.
4. Do it yourself or hire a professional
5. Contracts when dealing with professionals
6. Keeping your renovation legal (i.e. permits & building laws)
7. Renovation Timeline
8. Saving money
And much more....

This is absolutely FREE OF CHARGE & OBLIGATION and I can mail you a hard copy or attach it to an email. Just let me know by either calling or sending me an email.

Wednesday, December 15, 2010

In the Market for a Little Blue Box?

TIFFANY & COMPANY is coming to The Woodlands!!!!

Being built-out in the previous spot held by Z-Gallery in Market Street, we are going to have an alternative location to lay down some heavy-duty cash. Anybody know how much one of their little boxes is? Probably can't afford what goes in it but maybe I can just buy one of the pretty little blue boxes with it's tidy little bow. I could set it on the counter and each time I looked at it, I could imagine something special inside. Of course I would never open it....why spoil the fun. As long as it stayed closed, I could imagine it held a perfect, precisely cut diamond rind, or perhaps a stunning tennis bracelet. Maybe it could hold a gorgeous necklace absolutely dripping in diamonds. Heck....why not all 3 while I'm at it?!?!?!

HAPPY SHOPPING! Let me know what you got.

Thursday, November 18, 2010

TDHCA reduces rates to first-time homebuyers - YEA!

State housing agency offers lowest homebuyer interest rates in program history
Rates at 4.20% for unassisted loans, 4.95% for assisted loans with up to 5% of mortgage amount for down payment, closing cost assistance

(AUSTIN) — The Texas Department of Housing and Community Affairs (TDHCA) today announced that it has reduced interest rates on mortgage loans offered through its Texas First Time Homebuyer Program to historically low levels, further opening the door to safe and responsible homeownership for qualifying low to moderate income Texans.

Interest rates on these 30-year, fixed rate mortgage loans have been set at either 4.20 percent or 4.95 percent, depending on which of two types of loans the borrower selects. Rates had previously been set at 4.99 percent or 5.74 percent, respectively. The assisted rate of 4.95 percent is available with funds for down payment and closing cost assistance, helping families overcome what are often the biggest obstacles to buying a home.

“TDHCA is extremely excited to be making what has always been a terrific offer for potential homebuyers even better,” said TDHCA Executive Director Michael Gerber. “Our partners in the Texas real estate and mortgage finance industries are a critical part of our success, helping raise awareness of this safe, reliable lending product. It is our hope that these historically low interest rates will allow more Texans to achieve the American Dream of homeownership.”

“Texas Realtors and the real estate community are extremely proud to work together with TDHCA and help market this truly wonderful program,” said Bill Jones, Chairman of the Board for the Texas Association of Realtors. “These low interest rates are sure to help thousands of families across the state buy their first home, and I urge all Texans ready to take this important step to contact a Texas Realtor and take advantage of this opportunity.”

Available funds are part of an unprecedented $500 million in mortgage revenue bond authority TDHCA announced last May, the single largest financing initiative for state homebuyer funds in the 27-year history of the program. Approximately $100 million in mortgage loan reservations have been made to date, and interest rates are typically reset on a monthly basis as market rates adjust.

Gerber explained that Texas First Time Homebuyer Program offers two types of loans at two different interest rates: assisted loans, which will feature the higher 4.95 percent rate but also offer down payment and closing cost assistance up to 5 percent of the mortgage amount in the form of a 30-year repayable second lien; and unassisted loans, at the lower 4.20 percent rate but with no additional assistance.

No monthly payments are due on the down payment portion of the assisted loan, he noted, and therefore will not be required to be included in the borrower’s debt-to-income-ratios. However, the loan is due and payable upon sale, refinance, or payoff of the original mortgage loan.

TDHCA’s First Time Homebuyer Program offers qualifying households who have not owned a home in the previous three years an opportunity to obtain reliable mortgage loans.

Eligible households can earn up to 115 percent of the area median family income, depending on the number of individuals living in the home, as long as all other program requirements are met.

Loans are available through the program’s network of over 55 participating lending institutions with more than 300 branches located throughout the state. Applicants must qualify under FHA, RHS, VA, Fannie Mae, or Freddie Mac guidelines.

Texans wanting additional information are encouraged to visit the Texas First Time Homebuyer Program Web site at or call 1-(800) 792-1119 to learn more about income and eligibility requirements, loan guidelines, or to find the nearest participating lender.

About The Texas Department of Housing and Community Affairs
The Texas Department of Housing and Community Affairs is the state agency responsible for affordable housing, community and energy assistance programs, and colonia activities. The Department currently administers $2 billion through for-profit, nonprofit, and local government partnerships to deliver local housing and community-based opportunities and assistance to Texans in need.