Julie Q. Fuelling, Real Estate Consultant,

Recently, the Katy Chamber of Commerce visited the David Weekley “Hansboro” model in Firethorne and enjoyed a “Business After Hours” event. A large group of members, approximately 90 people, attended the reception. It was quite the honor for David Weekley as it was the very first time that a Firethorne homebuilder has hosted such a Katy Chamber event.

The 1,400-acre Firethorne master-planned community, where the vibrancy of West Houston meets the small-town charm of Fulshear, is located in the acclaimed Katy Independent School District. It features 150-acres devoted to parks and recreational amenities including a 12-acre lake with surrounding greenbelt. There is also a sports field, hike-and-bike trails, parks and playgrounds. One of the nicest features is a wildlife observation area and a natural bird habitat–unique features for a Katy development.

Guests were complimentary of the David Weekley model and enjoyed the flow between rooms so accommodating for such a large group of party-goers. Sandee Horton, Senior Sales Consultant for David Weekley, is pictured in the accompanying photo. From left-to-right in the photo are Stan Stanley of the Katy Area Economic Development Council, Sandee Horton, Realtor Rick Henderson, and Shawna Radke, another David Weekley Sales Consultant.

In addition to David Weekley, the Firethorne builder team includes Coventry Homes, Highland Homes, Partners in Building, Perry Homes and Plantation Homes.

It is always best to purchase new construction with the help of a Realtor; it will not cost you anything and it will give you the protection of a professional to look out for your best interests. This is very important. Contact me, I have special buyer incentives.

For more information about Katy area homes, you can search the entire Houston MLS from my blog, http://www.fuellingkaty.com. For questions or to tour any area homes, contact me directly at 713-818-2404. I offer financial incentives to my sellers/buyers. I have specialized in Katy real estate for over 19 years. Experience does count!

The youth at St. Peter’s United Methodist Church in Katy are fast approaching the time for their annual youth-sponsored Chili Cook Off and Auction. It will be held this coming Sunday, February 22, at 11:30 a.m. St. Peter’s United Methodist Church is located directly across the street from Taylor High School.

All money earned goes to help the youth seniors travel to Jamaica for a week of fellowship and mission work. Katy neighbors are invited to participate in this fund raising effort by providing the teens with a gift card, themed basket donation or a delicious dessert for this year’s auction.

The Cook Off and Auction will be held in the Fellowship Hall. Katy friends and neighbors are invited to join church members for this fun and worthwhile event.

The youth also ask for your prayers as the graduating seniors prepare for this life-changing mission experience. The teens will travel over Spring Break.

If you would like to learn more about the Chili Cook Off and Auction or to donate to this great cause, please contact Danielle Leinig, Youth Administrative Assistant, at texas1988@live.com or call Danielle at 281-220-2100 ext 191.

For information about Katy area homes, you can search the entire Houston MLS from my blog FuellingKaty. For questions or to tour any area homes, contact me directly at 713-818-2404. I offer financial incentives to my sellers/buyers. I have specialized in Katy real estate for over 19 years. Experience does count!

Please excuse the wordiness of the following post but this is the very best explanation I've read of how the new Stimulus Bill will affect the residential housing market, including here in Katy. It is a letter, published in full, sent to my profession from the President of the National Association of Realtors:

Dear Fellow REALTOR®,

Here's our take on the Stimulus Bill and Treasury announcements made this week. We look at the Stimulus package AND the Treasury's package holistically, in compliment with each other - mostly because that's how the Obama team is looking at it. Your representatives, the NAR Board of Directors, asked us in November to do 4 things (with an unspoken but clearly understood mandate to PRESERVE what we already have). Here they are: 1) get loan limits raised for high cost areas, 2) make the $7,500 tax credit NOT a loan, 3) try to find ways to push interest rates down (which are higher than they should be due to systemic risk right now) by 200 basis points, and 4) help provide solutions to the foreclosure/short sale problem.

So here's what we have achieved: 1) the loan limits will be raised to $727,000 in high cost areas, 2) the tax credit will be raised to $8,000 with NO payback [a true credit], 3) interest rates have come down 125-150 basis points, and 4) the bill has over $50 billion in it for foreclosure mitigation, with Geitners Treasury plan signaling that the second half of TARP and TALF will be used to mitigate foreclosures through a government guarantee, drive down interest rates by buying another $200-300 billion of mortgage paper from the GSES's thereby freeing them up to do the same with new mortgages, and Fannie has just agreed to lift the cap of 4 investment properties eligible for loans and raise it to 10.

In addition, we preserved what we have - which some tend to forget is always on the table when these negotiations start up again - mortgage interest deductability, real estate tax deductability, and the $250,000/$500,000 cap gains exclusion (an overall package worth more than $100 billion and for some a very attractive funding source for their pet projects).

We did make a run at the $15,000 credit -- and we would have loved to have gotten that or the Homebuilders $22,000 credit idea as well as their 5 year loss carryback deal, but they were considered too rich for this program. What it did do though is totally take the debate off of whether a tax credit should be reinstated at all (it expired last year) and whether it was a true credit or a repayable loan, and kept the conversation on how much it should be. It also kept the debate off of 'what we are willing to give up to get a $15,000 tax credit' and kept the debate again, on how much it should be. It's pretty hard to complain when they give you what you ask for and you lose something you never had.

While we study the Treasury specifics on their major role in providing the rest of the housing solution--there is much more to come and we are working diligently with the Administration to help 'unclog the pipeline" and get capital flowing into housing again.

Sincerely,

Charles McMillan, CIPS, GRI
2009 NAR President

For more information about Katy area homes, you can search the entire Houston MLS from my blog FuellingKaty. For questions or to tour any area homes, contact me directly at 713-818-2404. I offer financial incentives to my sellers/buyers. I have specialized in Katy real estate for over 19 years. Experience does count!

A few? None? Way too many? How many blind dates have you gone on? Since my parents, happily married for their lifetimes, met on a blind date my heart always erred toward hope.

One of my blind dates actually peeled shrimp and put the shells directly on a linen table cloth. Another brought his brother who "just got in from out-of-town"! Still another, took me to the most depressing movie I have ever seen and I go to a lot of movies. I couldn't make these things up.

When I list a house, I always tell my sellers that the first impression their house makes is identical to a blind date. Open the door. Take a long look and one of two things comes into your mind:

• What was my girlfriend thinking? How long must I give this before it's rude to bail?
• This could have potential!

A potential buyer sizes up a house from the porch into the foyer. Dirty porch, nasty front door, smelly foyer, it's over! They have made the decision not to buy your house. What was my Realtor thinking?

Pot of bright flowers, swept porch and sparkling door, you have caught their attention in a great way. Walk through the door and it smells delightful! Their first interior view is neat and inviting. While a buyer won't immediately decide to purchase your home, they will definitely decide not to eliminate it! Your house has absolute "potential".

Who knows, you might even enjoy a good night kiss!

For information about Katy area homes, you can search the entire Houston MLS from my blog FuellingKaty. For questions or to tour any area homes, contact me directly at 713-818-2404. I offer financial incentives to my sellers/buyers. I have specialized in Katy real estate for over 19 years. Experience does count!

For the second year in a row, Realtor Magazine reports that exterior remodeling projects, i.e., maintenance that enhances the value of your property not things like a sunroom, return the most money, as a percentage of cost. This is detailed in the annual Remodeling Cost vs Value Report-2008. Texas was a region that consistently returned a higher percentage of remodeling costs upon resale.

“Because today’s buyers have much more to choose from in the way of inventory, any home for sale must make a positive first impression,” said National Association of Realtors President Charles McMillan. He continued, "As a trusted source for real estate information, Realtors understand what attracts and motivates their buyer clients, which is why the results of this year’s Cost vs. Value report underscore the importance of curb appeal in the buyer’s eye.”

The 2008 Remodeling Cost vs. Value Report compares construction costs with resale values for 30 mid-range and upscale remodeling projects. This is the 11th consecutive year that the report, which is produced by Hanley Wood, LLC, was completed in cooperation with REALTOR Magazine. Realtors provided their insight into local markets and buyer home preferences within those markets.

According to Realtor Magazine, "In addition to wood decks and siding, window replacements and kitchen remodels also returned a relatively high percentage of remodeling costs on a national basis. All types of window replacements - upscale and midrange wood and upscale and midscale vinyl - returned more than 76% of costs. A major midrange kitchen remodel returned 76.0% of project costs, while a minor midrange kitchen remodel returned 79.5% of costs."

The discussion continued, "On a national level, bathroom remodels, while still a relatively good investment, do not return as high a percentage as in previous years. A midrange bathroom remodel was estimated to return 74.4% on resale, comparable to a midrange attic-to-bedroom conversion, at 73.6% of costs recouped, and a midrange basement remodel, at 72.7% of costs recouped."

Just like last year, home offices, sunroom additions and back-up power generators returned the very least of their cost, all close to only 50%.

McMillan explained that the resale value of any given remodeling project depends on a variety of factors. “A home’s overall condition, availability and condition of surrounding properties, location, and regional economic climate are all factors that will influence the value of any remodeling project,” he said.

McMillan continued, “That’s why it’s important to consult with professionals like Realtors in your area when you want to enhance the value of your home. Realtors see hundreds, if not thousands, of homes every year with their buyer clients and can provide valuable insight into what projects and improvements will make a difference with buyers in your area.”

For more information about Katy area homes, you can search the entire Houston MLS from my blog Fuelling Katy. For questions or to tour any area homes, contact me directly at 713-818-2404. I offer financial incentives to my sellers/buyers. I have specialized in Katy real estate for over 19 years. Experience does count!