As much as any time in recent memory, the mortgage industry, as we’ve known it, has experienced significant changes: guidelines have been amended, documentation requirements have increased, MI companies have expanded their influence on approvals, FHA has integrated adjustments to upfront & annual MI premiums, based on LTV and credit scores, and Fannie Mae & Freddie Mac have instituted price adjustments, also affected by LTV and credit scores.

My managing broker has said countless times this year – jokingly or not – that we’re working 3 times as hard to close the same number of loans just two years ago. The sub-prime market has vanished, for better or worse, and most of the 100% conventional financing programs no longer exist. Sounds like the death knell for the mortgage industry, right? Not so fast – as an FHA-approved broker for the past 8 years, we’re strategically positioned to make homeowners out of renters, even in today’s struggling economy.

Recently, we uncovered a little-known government program, sponsored by USDA, to assist low- to moderate-income families finance homes at 100% of the sales price – in select areas. Note: this is NOT a bond program, it is NOT affiliated with down-payment assistance programs (which are slated to be eliminated October 1st), and there are NO ADDITIONAL COSTS to the seller.

This is straight 100% financing with no MI to the buyer. Further, the seller may pay up to 6% of the sales price towards closing costs and pre-paid charges. Plus, if the property appraises for more than the sales price, closing costs may be financed into the mortgage. For the right buyer, and the right home, this is a tremendous product to take advantage of!

Amazingly enough, over the past month, we’ve encountered resistance: THE LISTING AGENTS AREN’T INTERESTED IN THE PROGRAM! Now, in some cases, they'll allow a brief conversation regarding one of their eligible properties, but more often than not, they won’t make the time to listen. Incredible!

What can we do to get more people excited about this program? Why the hesitation?

Credit to Jeff Anderson for program research.

I recently had to have my HVAC replaced because the old one was 10 years old, causing high energy bills and kept breaking down.

I called out everyone from Trane to Carrier to American Standard to Goodman. The quotes I got were for 13 seer to 15 seer units.

I got quotes that ranged from $3300 to $16,500.

Yeah, that is a big difference.

I hope you don't have your system go out in these tough economic times but if you do I highly recommend you give Neal a call at 936-372-3416.

He was prompt, polite and best of all he got us a new system for under $4000.

The system we got was a Ruud, 5 ton, 13 seer. Yes I know that isn't the highest seer rating but when you go 3 days with no HVAC, are on a budget and are paying cash....the 13 seer was much better than the 10 year old unit we had and should be more energy efficient and best of all you don't have to sweat to death!!

So if you find yourself in my shoes....give Neal a call.

2nd Saturday at the Historic Tomball Train Depot – movies and a band!

 FREE to you this summer the City of Tomball and The Regional Arts Council are presenting 2^nd Saturday at the Tomball Depot.  Please keep in mind this is not the Home Depot or the new Office Depot; this is at the historic Train Depot.  The Tomball Depot is located at 201 S. Elm just south of Main Street.  There are two dates left July 12^th and August 19^th. 

  The July 12^th date is just around the corner.  The entertainment begins at 6:00 and the movie will start when it gets dark.  For the children there will be face painting, a bounce house, wading pool and a coloring contest. 

Artist Bette Gibson from the Tomball art league will be putting on an art demonstration. 

The historic Tomball depot will be open for tours; which includes a model railroad.  Did I mention that all of this is FREE!!! 

There will be concessions available to buy drinks, popcorn, pizza and snow cones.  You won't want to miss the water balloon throwing contest.

 The band will be Atonement from The Living Stones Church.  For a preview of the Atonement band click here.  

The things you will want to bring along are the entire family, lawn chairs and picnic baskets.  They request you bring no glass containers.

The movie will be the Bee with the voice of Jerry Seinfield.  For a preview of the movie please click below.

2nd Saturday will happen again on August 9^th with the band BRAID and the movie Madagascar. 

A few weeks ago we had a rainy Monday and our daughter was in town visiting so I took the afternoon off and we went to the new Silverado 19 screen Theatre in Tomballto see Iron Man.  This was my first time to visit the new Silverado Theater and I LOVED IT.  The screen was huge and the picture and sound were phenomenal. 

We were going to lunch first and checked show-times before we went and Iron Man was running every 15 minutes.  I guess with 19 Theatres it gives them a lot of options for a popular movie.  We arrived just a few minutes before the show was to start and my daughter thought we should see the one that started 15 minutes later as she always wants a good seat.  The gentleman at the ticket office checked and saw that we had 260 seats still available so we didn't even have to wait.  As it turned out when we walked in the theatre there were only two other people in there.  A few more did show up before the show started but not many.  I guess a rainy Monday isn't a very popular time to go to the movie.

I don't go to many movies and only went to this one because my daughter wanted to.   It was a REALLY fun super hero movie!!  I sometimes have problems with a movie that is just so far out it couldn't be real.  Even though this one was far out it wasn't so far out that it didn't seem feasible; not in today's world anyway.   It was your fun good against evil movie.  Robert Downey Jr. was a great Iron Man and Gwyneth Paltrow was his able assistant (with a little chemistry going on).  I did not recognize a bald Jeff Bridges until my daughter whispered to me who it was. 

 It is rated PG-13 for some intense sequences of sci-fi action, violence and a sexual scene. There was really only one sexual scene and no total nudity.  To be quite honest they could have left that scene out of the movie and not have changed the plot a bit but that's the movies for you. It was a fun movie and I would highly recommend going to see it.

My daughter is back in town again and we are off to the Silverado again to see the New Chronicles of Narnia movie.  I have read the Chronicles of Narnia 4 times so I will know if they stay true to the story.  I am excited about seeing it at the Siverado Theatre as WE LOVE THAT THEATRE!!

I am attaching the trailer for Iron Man.  Like I said it was a REALLY fun movie.

Sherwood Forest in Tomball TX Market Report May 2008

Sherwood Forest is a small subdivision located in the city limits of Tomball Texas, off of Baker Road and SH 249. There are about 150 homes in the subdivision.

If you are looking for a subdivision with light restrictions and a low HOA fee this might be just what you are looking for. You may have your travel trailer in the yard but no permanent mobile homes are allowed in the subdivision. By low HOA fees the fees at the present time are $10 per year.

The subdivision was developed in the mid 1960's with homes being built through 2003. The majority of the homes were built in the late 1970's and early 1980's. Square footage ranges from a low of about 1200 square feet to 2600 square feet.

Current sales ranged from $135,000 to $202,000. The lots are all on over-sized lots; especially by today's standards. The entire subdivision has towering pine and oak trees.

The subdivision is in the highly acclaimed Tomball ISD. If you are looking for an affordable subdivison in the Tomball school district this might be the answer.

Closed Sales

These statistics were compiled from the Houston Association of REALTORS® data on 5/2/2008 at 2:00 p.m. This data is reflective of homes which were listed on the MLS; private sales are not included. Information was obtained from sources deemed reliable but not guaranteed. This information should not be used to determine the value of any property. Photos are for illustration