The Katy Freeway will be closed for construction at highway 6 from Friday night at 10pm until Monday morning at 5AM.
The Katy Freeway is undergoing a lot of construction changes and this one is to build the overpass at I-10 and SHW 6 during the expansion. This overpass is expected to be completed by August so a few more closings are likely to occur.
As is usually the case, when the crews are closing the areas, you're best to avoid the area as delays will be HUGE in that area!
I get asked a lot of times about investment properties in Katy Texas. A lot of "investors" have not done their research though and do not understand that there are different types of investment properties and believe or not we have them all in Katy.
1. RENTAL PROPERTY These are properties that you are going to buy to hold long term and have people pay you rent to live there. I had someone ask me if there was a difference between a lease home and a rental home one time and of course, they are the same. A rental home SHOULD always have a lease in place on it when occupied. The lease outlines the terms of the agreement between the tenants and the landlord/landlady. A common term associated with RENTAL PROPERTIES is "CASH FLOW". Commonly you hear, "how much will it cashflow?" Cash flow is quite simply the difference between what it costs you as an investor to hold the property and what the tenants are paying. There are much more complicated formulas but that is a simple explanation. So if you pay out 700.00 a month on a home between mortgage, taxes, insurance and repairs and you have tenants in place paying 1000.00 a month, then you are cash flowing $300.00 a month.
2. FIX AND FLIP- The dreaded four letter "F" word! FLIP. This type of investment property can cause a lot of heartache! It can also end the owner in a RENTAL PROPERTY situation because they miscalculated the cost to FIX and there is nothing left to FLIP! There are two common main problems I see with investors that fix and flip: They either buy wrong or the fix wrong! Understanding your market is essential to fix and flip. It also takes a certain level of expertise in evaluating a property. While you might not want to be a licensed inspector, you might at least want to take the inspector classes so that you know what to look for. You make your money on the buy, not the sell!
3. COMMERCIAL PROPERTY- Commercial property takes many forms. You can be a land developer and build buildings. You can own commercial buildings. But it all comes back to selling the structure or renting the structure. For instance, our Keller Williams office recently was hired to find businesses to rent Villagio in Katy Texas. Now there are restaurants, clothing stores, book stores and even a dentist in there all paying rent for their space to the owner/developer of the center!
The Katy Agent Team works with a lot of investors, primarily in residential but also in commercial. We have helped many investors with their plan to use real estate to build their wealth.
Call Ron-- 281-935-7152 Direct or our Toll Free information line
Call (877)472-5390 and use the code to hear about the guarantee:
Easy Exit Listing Guarantee Code: 7003
$5000 Buyer Guarantee, Code: 7004
Your Home Sold in 29 Days GUARANTEED, Code: 7005
Grand Lakes, in Katy Texas is located South of I-10. Off of the Grand Parkway, Highway 99 Exit, it is located just East and West at Fry road exit.
Grand Lakes had 12 homes sold in March of 2008. Those homes varied in price from $155,000 to $639,000.
Grand Lakes saw an additional 13 homes showing as having gone under contract, meaning they had not closed but had accepted offers and were now pending closing. That is a total of 25 homes under contract or closed in March 2008 for Grand Lakes.
To see all homes for sale in Grand Lakes, Katy Texas, Please click the Grand Lakes Image:
Call Ron-- 281-935-7152 Direct or our Toll Free information line
Call (877)472-5390 and use the code to hear about the guarantee:
Easy Exit Listing Guarantee Code: 7003
$5000 Buyer Guarantee, Code: 7004
Your Home Sold in 29 Days GUARANTEED, Code: 7005
The most expensive sale closed in March 2008, reported to the Houston multiple listing service was located in Cinco Ranch Bayou Oaks.
The home was listed at $868,000 and was closed, reporting a sales price of $820,000. This home was a new construction from Partners In Building.
This gorgeous home was almost 5000 square feet (4964) and has 5 bedrooms with 4 full and one half bath. It also has a three car attached garage. That put the home's final sale price at about $165/square foot.
The most expensive resale home (not new construction) was not that far behind in total price at $780,000 for the 5006 square foot home located in Lake Forest of Kelliwood . This was a custom Kickerillo home with 5 bedrooms and 4 and a half baths. A three car attached garage was on this home as well.
Short Sales in Katy Texas...
A short sale is when the bank or lender holding the note on a home allows the seller, who has gotten behind on their payments, to sell their house for less than they owe on the note. Not all banks or lenders will participate in a short sale and certainly not ever real estate agent in capable of conducting a short sale. It takes a lot of work on the part of your agent to successfully market, sell and close a short sale, but if the agent knows what they are doing, it can be done, thus saving the home seller from a foreclosure on their record. This helps the homeowner to again, someday down the road when things have turned around for the homeowner to buy another home.
Because of recent legislation, most homeowners may also be exempt from paying taxes on the difference between what they owe and what they sell for. Before the legislation, the bank or lender issued a form 1099 to the homeowner and the IRS counted that at INCOME for the seller. However, with the Mortgage Forgiveness Debt Relief Act of 2007, that is not the case anymore. The seller can actually get out from the loan they have gotten behind on and start over.
If you are having trouble with your home loan either because of an adjustable rate mortgage that has adjusted or you are falling behind on your mortgage payments, PLEASE do not sit and do nothing. Please give us a call and allow us to meet with you, talk with your note holder and see if we can qualify you for a short sale so that you do not have to go through the foreclosure process that wreaks havok on your credit scores for 10 years!
Only an agent who understands the short sale process should be hired to do this for you as it is very demanding work and not every agent understands HOW to do these processes properly. We have successfully helped homeowners through these situations in the past, and we may be able to help you too...but we can not help if you do not call us and as us to help!
We look forward to helping you with your home sale, regardless of the situation!
Please give us a call if you are looking to buy or sell a home in the West Houston and Katy Texas area! We are area specialists who guarantee our results!
Call Ron-- 281-935-7152 Direct or our Toll Free information line
Call (877)472-5390 and use the code to hear about the guarantee:
Easy Exit Listing Guarantee Code: 7003
$5000 Buyer Guarantee, Code: 7004
Your Home Sold in 29 Days GUARANTEED, Code: 7005
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