Apr. 30, 2007 - Slight adjustment in Houston housing market

Apr. 20, 2007 - Tarren home after his year in Iraq

He is back in Germany now.  Before he left for Iraq he wasn’t that thrilled with Germany but it looks pretty darn good now. 

He will be coming back to the states May 28^th and will be stationed at Fort Hood starting June 7^th.  We will be thrilled to have him back in the states but it is a double edged sword.  He very well could get with a group heading straight back to Iraq.  We won’t know that until he actually gets to Fort Hood.  He told us he doesn’t think it will be if he goes back but when.  His attitude is good about it though. 

Our neighbor’s boy Shawn Green will be coming home for his 2 week leave from Iraq in May.  I will let you know when that happens.  The scary part for us Moms is the getting them in and out of Iraq.

Apr. 16, 2007 - Do's and Don't when planning on purchasing a home!!

Do's

• Do make all your payments on time. Your credit will be checked again right before you close.
• Do continue saving money. There are always additional expenses once you move and you will be glad for that savings.
• Do make deposits into your bank account on a regular basis.  If you have any unusual deposits for large sums of money document them as the lender may need to verify the source.

Don’ts

• Do not co-sign for any loans for friends or family. That debt would be held against you.
• Do not decide this is the time to change banks; you can do that after you move in.
• Do not open ANY new accounts. Even though the new account has a $0 balance it may still affect your debt to income ratio.
• Do not buy a new car!!! Wait until after you are in your new house then go car shopping otherwise the debt could affect your debt to income ratio.
• Do not lender shop over the internet. Each lender pulls a credit score and multiple hits on your credit report can cause your score to drop dramatically.
• Do not pull your own score and then decide you will check why accounts are still open or have balances. I did this myself and then had to write a note at closing to explain why I had all these hits on my credit.

Apr. 7, 2007 - Houston still safe from national downturns

The greater Houston area real estate market continued to outpace most of the nation and experience growth, although the rate of increase slowed from recent years, according to statistics released late March by the Houston Association of Realtors. Housing in the Houston region has withstood the more pronounced drops experienced by most other major US metropolitan markets.

Total property sales for the month registered 5,991, which was a 2.6 percent increase over February 2006. Properties sold during the month reached a total of more than $1.1 billion, a 5.7 percent increase compared to last year’s nearly $1.0 billion in February sales. Additionally, the median home price for a single-family home reached a monthly record for February of $146,000, and the average single-family home price came in at $195,561, increases from last year of 2.5 and 2.6 percent, respectively.

“With the reports across the country of rising foreclosures and concern about the impact of subprime lending, we in Houston must watch for any indication of a weakening market,” said Rob Cook, HAR Chairman. “Houston is still one of the most solid real estate markets in the country, and we do not anticipate any dramatic downturn locally.”

Source: Houston Association of Realtors

Apr. 4, 2007 - Property Taxes in Northwest Harris and Southwest Montgomery Counties

When people move to the Houston area from other states they are often surprised by our high taxes. Texas is one of five states without an individual or corporate income tax. Most states derive about 40% of their revenue from income taxes, a third from sales tax and the rest from taxes on items such as business licenses and gasoline. Because of this Texas has a fairly high sales tax and significantly higher property taxes.

In Northwest Harris and Southern Montgomery Counties there are typically three different taxing authorities. There is a county tax; which covers such things as county, hospital, emergency services, port authority, flood control, community college etc. The second tax is a school tax. The amount of this tax will depend on which school district you live in. I have found the different school districts have a similar tax rate; they usually only vary by pennies. It doesn’t matter where you live you are going to have these two taxing authorities.

The third taxing authority is the MUD or Municipal Utility District. Basically this is your water. This is the taxing authority that is going to vary subdivision by subdivision. There are a few older subdivisions in the area that have paid their bonds and don’t have this tax. The rate will vary from .25 to over $2.00 per 100 value of your house. If you live in a country subdivision and are on a septic you will not have this tax.  Typically the country subdivisons are on septic and have community water.

Fortunately, Texas also has lower prices for homes than most other states. Because our taxes are so high this is something you need to consider when you are looking for your home. To get information for Harris County you can go to the Harris County Appraisal District HCAD. For Montgomery County you can get information at the Montgomery County Appraisal Tax Office.

Even with the higher property tax Texas ranks 14th in the lowest overall taxes paid among all 50 states.  What a great place to live!!

Apr. 1, 2007 - Dump Cake

I know that we all lead hectic lives.  Below is the dessert I make when I need a dessert in a hurry.  It is so easy to make and so yummy.  It is my son's favorite dessert.  This was the dessert I had waiting for him when he got back from Iraq.

ENJOY!!

1 Package Yellow Cake Mix

1 can 20 oz. Crushed pineapple

21 oz. Cherry pie filling

1 cup chopped pecans

½ cup butter

Grease pan.  Drain pineapple and spread on bottom, dump pie filling, dump dry cake mix. Sprinkle with pecans dot butter all over the top.  Bake at 350 for 48 to 52 minutes.