Mike Wong Realtor, GRI

Santa Claus and the Sugar Land Mayor James Thompson will officially light the Town Center Christmas tree to kick off the holiday season today from 5-8 pm tonight at Sugar Land Town Square. All activities are free, with the tree lighting tentatively set for 7:30 p.m.

The sixth annual Christmas Tree-Lighting event will include family festivities and a few surprises from Santa as he makes his grand entrance. Local businesses will offer children's activities, including face painting, free holiday photo stations and festive giveaways before the lighting ceremony.

Performers will include Sugar Land Super Star winner Melanie Finley, local church choirs and orchestras, and the Austin High School drum line. Stilt walkers and jugglers, sponsored by Sugar Creek Baptist Church, will add to the entertainment.

The highlight will be the arrival of Santa, who makes a point of arriving a different way each year. In the past, for example, he came in a gift box that was unwrapped and another year he arrived via a cable. Santa will be available for photos in Town Square beginning at 5 p.m.

To help Santa make his grand entrance and to avoid traffic congestion, a free shuttle service will run from Mercer Stadium, 16403 Lexington Blvd. and Austin Parkway, to Town Square.

Parking will also be available in the Texas and Lone Star garages in the Town Square.

I was asked to be interviewed on camera about events happening in Chelsea Harbor in Sugar Land recently. Here is the story from the local news station Fox 26 News Houston:

What the story fails to mention is crime can happen anywhere. In retail centers, in homes, in driveways all over Houston from River Oaks, Memorial, or West U. It does not matter the neighborhood, demographics, or area. Crime does not discrimate. This was cut out of my interview and not shown.

As the reporter mentioned looking at the history of Chelsea Harbor, crime happens. According to her report and statistics one crime happens per year. Pretty good statistics for a subdivision of over 300 homes and residents. Remember Sugar Land was rated as one of the safest places to live in the country. Chelsea Harbor is not a target because of the people living there. Anybody can be a target anywhere.

Stay tuned for my safety checklist and awareness tips for this holiday season.

During the Nov. 4 election, Sugar Land voters approved propositions allowing the city to use existing sales-tax revenues and establish venue taxes to fund development of a sports stadium and live entertainment venue. Sugar Land officials are now seeking private partners to make the city's proposed Cultural and Entertainment District a reality.

Sugar Land officials envision a sports stadium being a minor league baseball park. An affiliated minor league team would require a partnership with the Houston Astros.

The city has been working with AEG, a Los Angeles-based sports and entertainment presentation firm, to conduct market feasibility studies for the indoor concert venue and expects to build 6,500-seat facility with a flexible design. The study confirmed that there are opportunities for success in the growing Fort Bend market. Discussions are continuing but no details of any deals have been established.

The conceptual plan for the Cultural and Entertainment District also proposes a cultural and performing arts venue and hotel and convention center. The sports stadium and concert venue were prioritized to maintain a competitive edge regionally.

Included in the $700 Billion Bailout package are some new tax breaks, and many of the tax breaks set to expire in 2008 are being extended in this bill.

New tax breaks for disaster victims in presidentially declared disaster areas in the Midwest that were hit by major floods, storms and tornadoes in 2008. Disaster victims whose primary residence was damaged between May 20, 2008, and Aug. 1, 2008, will be able to withdraw money from IRAs, 401k's, 403b's and other retirement plans without the normal 10% early withdrawal penalty and can spread the tax bill over three years.

New laws extend tuition and fees deduction through the end of 2009. This is a great way to write off college costs if you earn too much to qualify for the Hope and Lifetime Learning credits. You can deduct up to $4,000 if your adjusted gross income is $65,000 or less $130,000 for joint returns or $2,000 if your AGI is $80,000 or less $160,000 for joint returns.

New deductions for teachers. Teachers can continue to deduct up to $250 of their personal expenses for books and classroom supplies, regardless of whether they itemize.

Charitable contributions from an individual retirement account. People over age 70.5 can continue to give up to $100,000 directly from their IRA to a charity and avoid paying income taxes on the money in 2008 and 2009. You can't take double-dip tax breaks and write off the charitable contribution, but you don't need to itemize to benefit from this tax break.

The new law makes a few changes to the alternative minimum tax. The AMT exemption is raised, which is basically a standard deduction for AMT taxpayers. For 2008, the exemptions are set at $46,200 for single people and $69,950 for married folks filing joint returns.

Taxpayers will continue to have the option to deduct state and local sales taxes instead of state and local income taxes. This provision has been particularly valuable for people in states without income taxes. You can deduct whichever kind of taxes -- income or sales -- that cost you the most. This tax break had expired at the end of 2007 but now runs through 2009.

Be warned Farmers home insurance policyholders, you may see your rates climb an average 9.9% in February 2009.

The new rates don't account for losses related to Ike, rather Farmers needed the hike to cover rising labor and materials costs. Farmers has not calculated the hurricane damage costs into thier rates, which means there could be another planned increase on the horizon ready to hit your pocketbook like a hurricane.

The company, which sells home insurance through its Texas companies Farmers Insurance Exchange, Fire Insurance Exchange and Texas Farmers Insurance Co., notified state regulators of the bump in rates earlier this week.

Farmers has 760,000 home policyholders in Texas. But only half - those under its "HOA" policies - will see a rate increase, Levy said. Customers with Texas Farmers Insurance Co., which sells the "Texas Family Home Policy," will not be affected by this increase. Those customers saw their rates jump an average 7.9% in May. In a move to compete in the condominium market, Farmers will cut rates an average 10% for condo policies, Levy said.

Farmers is the second company to raise rates in Texas following Hurricane Ike.

USAA told state regulators last month that it will raise Texas home insurance rates an average of 7.9% because of growing construction costs and the increase in the frequency of catastrophic weather. In Harris County, the average increase was 20.9 %.

We should also expect the other major insurance carriers to follow with rate increases as well.