Jack Maxwell

For those not familiar with Northwest Harris County and the area known as Cy-Fair, Bridgeland is one of the most exciting real estate developments in the entire Houston area. It just happens to be located in Northwest Harris County South of US Highway 290 West of Fry Road. It is Texas BIG! When complete, it will be roughly the size of Houston's inner loop area. The amenities are fantastic, making it a great place to raise a family.

In the recent past there was some doubt as to the viability of the project when General Growth Property, the developer, filed for bankruptcy. Fortunately, it seems these troubles are behind them. Development at Bridgeland did not come to a halt and they are moving full speed ahead with their development plans.

The most exciting news right now is that Bridgeland is opening up a new residential single family home section within walking distance of the existing resident activity center. The new section will be known as Lakeland Heights.

David Weekley has been chosen to build the new homes in this section. The new section will feature more traditionally styled homes reminiscent of The Heights or West University. These homes will all have garages at the rear of the homes that are accessed from alley ways. Home sizes will be comparable to other homes currently being built in Bridgeland. Homes will be built on 42 ft. and 50 ft. wide lots. Base prices will range from $170,000 to $270,000. Homes in this section will be built with six inch thicker exterior walls to accommodate R-21 insulation (up from R-15). Over the last decade David Weekley has increased the energy efficiency of their homes by approximately 70%. The improved efficiency will continue to pay for itself long into the future.

The new section is designed to be very "walkable" being placed within close proximity to the community's recreational facilities, schools and future shopping center. There will be more walking trails and park areas per acre than in any other section of Bridgeland.

For more information about this community, to see homes for sale in the community or just to look at pictures of the community, I encourage you to visit: www.bridgeland-cypress-tx.com

Fannie Mae announced that they are offering to pay up to 3.5% of the sales price toward buyer's closing costs on foreclosures they have for sale through May 1, 2010. The buyer must contract to purchase the property and close by May 1, 2010 to take advantage of this offer.

Presently, there are more than 35 homes in Northwest Harris County that would qualify for this program.

Purchasers of these homes can still take advantage of the available federal tax credits as well.

For a list of qualifying homes in Northwest Harris County, call me at 832-969-6699 or e-mail me at jackmaxwell@remax.net.

Perry Homes just announced today that they are opening a new section in Fairfield with oversized lots.

Lots will be 60ft and 70ft wide with one lot at 76ft which can accommodate all of their large one story plans with 3 car garages. Homes in this section will range in size from approximately 2,300 sf. to 3,000 sf. and base prices will range from about $213,000 to $250,000 nicely equipped. Perry is also offering generous incentives for February.

The early birds get first crack at the choice lots. Call me for more information, or to schedule a tour.

For more information about the community and to see what other homes are currently available in Fairfield, visit http://www.lonestarhomes.org/content/article.html/1497850

Urgent! Please let your voice be heard by Governor Rick Perry. If House Bill 3646 is passed the Cy-Fair Independent School District will receive less money per student than other school districts resulting in a major budget short fall which will in turn result in the repeal of Cy-Fair ISDs homestead exemption and a 20% tax hike.

I am told that according to House Bill 3646, Cy-Fair will receive $4,200 per child whereas other districts will receive approximately $5,800 per child even though their districts are contracting and Cy-Fair is expanding. Houston ISD is facing the same problem, but they have a much larger tax base that is largely commercial property. Cy-Fair is primarily residential.

Our low tax rates in Cy-Fair are a big reason why the area is so attractive to young families looking to move into the suburbs. The loss of the homestead exemption could drive property values down if home buyers feel Cy-Fair taxes are out of line with other areas of Houston.

Please tell Governor Perry to veto the bill until this inequality can be remedied. Tell your friends to do the same.

Bridgeland is a very large master planned community located in Northwest Harris County in Cypress, Texas just Northwest of Houston. The development is a very large one covering almost the same land mass as the inside of Houston's 610 inner loop.

Recently, it was learned that General Growth Properties Inc., the developer, was filing for bankruptcy protection. I was curious about what that meant for the development itself. General Growth Properties is one of the largest retail shopping mall developers and owners in the country and residential development was only a small piece of their holdings.

I talked with an employee of Bridgeland who assured me that they were well funded for the next year and although a few of their builders have struggled of late, they still have a strong builder core and are still building in the sections they have already started. No new sections will likely be opened this year. I was also informed that two buyers had made offers to purchase the development from General Growth Properties and that one offer had been accepted. They are now in the due diligence period of the contract.

Although, he didn't give me a name, the employee said the buyer was already a well established developer in the area. It has now been reported by the Houston Business Journal that Caldwell Companies who is the developer of the nearby developments of Towne Lake and Rock Creek. The Houston Business Journal is also reporting that a Japanese firm, Sumitomo Corp., will have a large stake in the project.

For now, Bridgeland is still on track to ultimately build 20,000 homes for an estimated 65,000 residents. The project features many wonderful amenities such as nature trails, a large park with disc golf course, lakes for non-powered boating, and activity centers with pools, splash pads and tennis courts. The project will also ultimately have commercial retail property along the proposed Grand Parkway expansion.

To see pictures of the community, visit: http://www.bridgeland-cypress-tx.com/