NEW LISTINGS
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15407 Old Stone Trail
Listing Price: $6,500
Subdivision: Memorial Thicket
Bedrooms: 6 Bedroom(s)
Baths: 5 Full & 1 Half Bath(s)
Garage: 3 Car Attached
Stories: 2 Story
2022 W Main St.
Listing Price: $534,900
Subdivision: Dearborn Place
Bedrooms: 3 Bedroom(s)
Baths: 3 Full & 1 Half Bath(s)
Garage: 2 Car Attached
Stories: 3 Story
830 Plainwood
Listing Price: $5,500
Subdivision: Memorial Thicket
Bedrooms: 5 Bedroom(s)
Baths: 3 Full & 1 Half Bath(s)
Garage: 2 Car Attached
Stories: 2 Story |
Houston Happenings
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Houston Shakespeare Festival
(1st Two Weeks of August)
A tribute to the famous playwright, the festival attracts more than 475,000 people to its free performances at Miller Outdoor Theatre throughout the month. (713) 743-2929.
Theater District Day
(Last Sunday of August)
Enjoy backstage tours, ongoing live performances, set and costume displays and sneak previews of the upcoming seasons. The Theater District is home to eight performing arts organizations, which offer this free look behind the scenes each summer. (713) 658-8938.
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| Real Views With Sherry Campbell |
With the start of school looming ahead in August, traffic will start to increase as people return home from vacation and there is a mad dash for school shopping. Tax Free Weekend is August 8-10, and buyers will crowd the shops and pick through the leftovers on the shelves to save 8.5%. I will probably avoid the crowds and wait until the shelves are replenished.
If August is like most years, we should see a slow down in home sales because the focus will turn towards getting kids back in school. However, I won’t be surprised if this year is different. Our typically strong summer season seems to have cooled towards the end of May, just as our typical steamy summer temperatures cooled in Houston this year.
Of course, I am comparing June & July to the Buyer’s frenzy we experienced earlier this year, and it was CRAZY! I suspect that buyers decided to back off from the multiple offers situations and to stop paying above market for homes. Meanwhile, in Katy, 30-50 homes started going on the market daily, as Sellers decided to take advantage of the Seller’s market. As inventory increases in these areas, the seller’s advantage goes away.
I’m not sure what is going on in the rest of Houston, but there is a definite cool down. Problems with visas being issued to oil company employees could be contributing to fewer arrivals in Houston this summer, and it is definitely impacting the rental market. We are seeing larger inventories of rental homes sitting on the market than we have in 5 years.
Please note that my views are based on talking to other agents and watching the market, and no real proof or data.
I hope everyone enjoyed the summer and you are ready to get back to a routine. The International Women’s Association will start activities again in September.
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| Mortgage Market News |
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Volatility is the name of the game right now in the mortgage market. With the Federal Reserve continuing to lower contributions to the bond market with a plan to discontinue the stimulus still in place by October, the market has reacted to this news and will continue to do so. Having said that, economic indicators are such that the economy does not appear to be growing as rapidly as expected. Today’s unemployment numbers are still higher than what was predicted, easing the bond market slightly. Foreign investors are cautious and watching what the Fed will do, which also creates volatility in the bond market. All indications have been that the Fed would discontinue the stimulus into the bond and mortgage markets by October of this year, but some market predictors feel this may not be the case as the economic recovery is not moving at the rapid pace previously predicted. While we may not see the previously expected increase in interest rates before the end of 2014, all indications are we will certainly see them rise by first quarter 2015. One can only watch and see what the Fed will do.
One thing most market predictors and financial analysts agree on: lock into your interest rate. The general consensus is that unless you have the ability to gamble on a higher rate and higher fees, It just isn’t worth the risk in this market to float your rate.
Carla Sowden Landrum
Sr. Account Representative
Preferred Home Lending
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| Texas Tax Free Weekend 2014: Houston Shopping |
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Whether you're shopping online or in stores, block out your calendar to save on Back-to-School items!
The 2014 Texas Sales Tax Holiday is coming soon: Friday, August 8, Saturday, August 9 and Sunday, August 10, 2014. Some malls and stores are extending their business hours during Tax-Free Weekend, so check with your favorite shopping spots. During the three days, most clothing, footwear, school supplies and backpacks priced under $100 are exempt from sales and use taxes. That equals to an approximately $8 savings for every $100 you spend. The Texas State Government says subject to some criteria, "all sales of qualifying items made during the holiday period qualify for the exemption, including items sold online, or by telephone or mail."
What items are exempt and what are taxable? It gets a little complicated. For example, some sports gear like golf cleats and track shoes are taxable, but tennis shoes and swimsuits are exempt. Headbands and helmets are taxable, but baseball caps are exempt.
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Sincerest regards,
Your Energy Realty Team
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