Great Opportunity for Buyers in Fall Creek | Large Price Reduction for a Quick Sale

Take Advantage of the Great Price on This Home and Today's Low Interest Rates

14602 Wood Thorn CT
Humble TX 77396

Directions: US 59 North Exit Beltway 8 East, (R) Mesa Dr, (R) Fall Creek Bend, (L) Haven Meadows, (L) Bearden Falls, (R) Wood Thorn Ct, home is in the heart of the cul-de-sac.

List Price: $322,500 (Price Reduction of $43,500)
Click for more information.

See 14602 Wood Thorn CT Humble TX 77396 at www.williams4yourhome.com.

Description: 5 or 6 Bedrooms, 4/1 baths, large upstairs game room, full 3 car garage home located in the heart of the cul-de-sac in the master planned golf community (home of the PGA's Shell Houston Open) of Fall Creek located in northeast Houston (Humble TX) at Hwy. 59 N and Beltway 8 East.  The master retreat is located to the back of the home on the 1st floor providing maximum privacy and views of the over-sized back yard (1/4 size lot).  A 2nd bedroom down with a full-bath can also be used as an executive study.  High ceilings throughout and a great open floor plan. Granite, S/S appliances, custom cherry cabinets, and 18 in. neutral tile add elegance to the gourmet kitchen.  Enjoy the benefits of having your own DuPre water softner.  Extensive 18 in. ceramic tile throughout the high traffic areas, fashionable window coverings, upgraded ceiling fans, spacious secondary bedrooms, pest control system, energy star rated construction, tech shield, 14 seer A/C, expanded covered porches, gas connections, and more await the buyer of this home.  Home located in an exceptional location within walking distance of the elementary school, club house, park, and pool.  Great location for commuters.

Reasons to Live in Fall Creek

1. Redstone Golf Club
2. Two Recreation Centers
3. Swimming Pools
4. Tennis Courts
5. Miles of Hike and Bike Trails
6. Numerous Parks
7. 15 Miles from Downtown
8. Home of the Shell Houston Open
9. Fall Creek Elementary School (may be subject to change contact Humble ISD for more info)
10. Summer Creek High School (may be subject to change contact Humble ISD for more info)

Jeremy Williams of Keller Williams Realty NE specializes in residential real estate in the northeast Houston area including Kingwood TX, Atascocita TX, Humble TX, Fall Creek, Summerwood, and Eagle Springs. Whether buying or selling a home, see why clients have chosen to trust Jeremy with their real estate needs. To learn more about the real estate services Jeremy Williams of Keller Williams offers his clients and customers, visit http://www.williams4yourhome.com/ or read more at Jeremy's Active Rain blog. Utilize the searches below to see what is happening in your neigborhood, or search for your next dream home.

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What makes Jeremy Williams different from other Realtors in Kingwood TX?

We are proud to host the PGA Shell Houston Open in Humble, Texas at Redstone Golf Club. This year the event will take place from March 30 to April 5, 2009. Just a week before the awarding of the green jacket at the Masters. The field continues to develop daily, with many of the top golfers making a stop in our town. The pro-am on Wednesday, April 1 is an excellent opportunity to bring your camera and get some photos of your favorite golfers on the course. You can purchase tickets online, as well as find out about parking and hotels.

Fall Creek is always a gracious and welcoming community to the myriad of people that converge to watch the golfers make their magic at Redstone. Fall Creek has a lot to offer a potential buyer looking for a great place to live. They are a master-planned community with homes ready for immediate move-in. Live on the golf course or lake, choose from Houston's top builders and get ready to play lots of golf when you join the Redstone Golf Club. Commuting is easy due to the proximity to the Sam Houston Tollway and/or Highway 59. Plus you are only 5.8 miles to Bush Intercontinental Airport. No wonder the PGA selected Humble's Redstone Golf Club for their tour.

Today I am making a post on Fall Creek because of the nice emails that I recieved, from a couple of out of town buyers, following my Eagle Springs post with video and a Google interactive map search plotted with homes for sale. Fall Creek is a master planned community that can be found off the Beltway 8 East. I would say that it has the shortest commute times to downtown during rush hour of any master planned community in the Houston metro area. I strongly suggest that you check it out when you get a chance. Below you will find video and a Google interactive map search plotted with all the current MLS listings in this development.

For a more detailed post about Fall Creek go check out Fall Creek.

Happy New Year! As millions of Americans salute the beginning of 2009 with expectations of a return to a more traditional economic and investing structure, experts agree things are likely to get worse before they get better a consideration for every short sale buyer but one that should also encourage potential investors to seek returns in areas outside of the financial markets; areas like short sale real estate. Even as hopes for a brighter financial future are likely to be conservative for most Americans the future never fails to bring change and change offers opportunity to those that understand how to take advantage of it. Let's examine several changes of both direct and indirect interest to short sale investors beginning with the minimum wage laws slated to go into effect for 2009.

While many small business owners rue every small increase in minimum wage law, it is actually good news for most short sale investors. An increase in minimum wage translates into slightly higher eligibility requirements especially for first-time homeowners and others seeking affordable housing. Let's take a few minutes to examine the basic eligibility requirements and sales prices to go into effect for 2009.

Federal Minimum Wages will increase on July 24, 2009 to $7.25 per hour but many states have already enacted higher minimum wage laws as of January 1, 2009. California, Illinois, Massachusetts and Vermont are each $8 per hour while Oregon is at $8.40 and Washington at $8.55.Using the Federal rate of $7.25 results in $290 per week earnings or $15,080 annually. A single person making minimum wage at a 30 percent income ratio would only be able to afford $377 per month toward mortgage and interest payments or roughly a $65,000 home financed for 30 years at a fixed 5.5 percent interest rate. With interest rates projected to drop to 4.5 percent fixed later this year, the same individual would have a mortgage payment of just $380 per month on a $75,000 mortgage....well within the reach of a short sale starter home in many areas of the nation.

Let's take a look at affordability levels for a two income household with both partners only making the new federal minimum wage of $7.25. The combined annual household income of $30,160 at a 30 percent debt to income ratio would allow monthly mortgage payments of $754 per month. At today's 5.5 percent fixed 30 year rates that equates to a selling price of roughly $135,000 or $150,000 at a 4.5 percent fixed 30 year rate.

Short sale investors need not fear an increase in minimum wage laws. It is downright good news since it allows marginal buyers to qualify for more house than ever. Combined with historically low interest rates, nearly any household in America can afford an entry level starter home even on a minimum wage household income.

With interest rates expected to bottom out around 4.5 percent fixed during 2009, many short sale investors are considering the option of acting like the bank by holding a note when reselling a property. If history provides an example, this could be a potentially lucrative move for those inclined toward longer term profits. For example, let's assume you purchased a $150,000 home via short sale and finance it for 30 years at a fixed rate of 4.5 percent. Monthly payments would be $760 per month. If you held the home until interest rates resumed their upward momentum then took a note at a higher rate the monthly difference would be yours to keep without the hassle of taxes, insurance, maintenance or other out of pocket expenses even if you sold the home for exactly $150,000 - taking NO profit on the sales price of the home!

Assume you sold the home for the exact same price but financed it at 9.5 percent fixed you would enjoy $500 per month profit for 30 years a total of $180,000 without making a penny more on the original purchase price of the home. As an added benefit, the buyer would be responsible for property taxes, insurance premiums, maintenance and other upkeep on the home. The home would act as collateral in the event of a default. Of course, as inflation moves upward and prices of real estate resume their normal trajectory, it would be reasonable to expect to make a tidy profit in addition to the interest rate premium. There is a downside to holding a note, you remain responsible for your portion of the mortgage (unless it is paid in full) and not every lender allows this type of arrangement.

Since the home itself acts as collateral for the loan the potential upside remains viable if the terms of your original loan allow for this situation. Oddly enough, one of the biggest threats to long term profitability is early payment of the loan by the buyer. Should the buyer refinance or pay the loan in full earlier than anticipated then it could severely impact your long term earnings.

In the 1970's interest rates peaked at nearly 14 percent fixed after a period of rapid inflationary pressures. Most experts agree, despite a temporary decline in prices of goods and services, the long term outlook for inflation remains high due to the unprecedented degree of stimulus currently being injected into the economy. How long it takes the economic stimulus to reach the average consumer is entirely up to debate but for those interested in holding a note for all or part of the purchase price of a home serious consideration should be given to the prospect. It is one more option to short sale investors interested in building a long term wealth solution.

Charles Gardner

Short Sales Investor

2009 is Mine

Listen up folks. You need to start calling your investors ...calling those fence sitters that have been sitting too long. I'm sure you have heard this. The Federal Reserve just said they are going to start buying Treasury notes and bonds. Let's review some of what Fed Chairman Ben Bernanke said recently in Austin, Texas:

"The second arrow in the Federal Reserve's quiver - the provision of liquidity - remains effective," he said. "The Fed could purchase longer-term Treasury or agency securities on the open market in substantial quantities. This approach might influence the yields on these securities, thus helping to spur aggregate demand."

Did you catch that? Folks mortgage rates are going EVEN LOWER. Why? Mortgage rate are directly tied to the 10 year treasury. As the Fed comes in and buys them up, that will send the yield on the treasury even lower, therefore reducing the overall rate on the 30 year mortgage.

And there's more good news. Just last week the Fed announced that it would be buying $100 billion in debt from Fannie and Freddie, and around $500 billion in mortgage backed securities. Now what do markets do? They anticipate action and price it into the equation ... so if you're a Realtor, a loan officer, or a real estate investor, this is our version of a Bailout. Look for the 30 year fixed to stay well below 6%!

Are you ready for this new statistic, reported by the Wall Street Journal? TransUnion LLC, the Chicago-based credit bureau, predicts that 7.17% of consumers will be at least 60 days past due on their mortgages by the fourth quarter of 2009. That's nearly double where it is today.

There are a lot more loans that will be resetting throughout 2009 through 2011. If you think that REOs and short sales are slowing you need to get your head on straight! They will EXPLODE in 2009. Loan modifications can only have so much impact...

Bank of America announced that it would be eliminating at least 10,000 investment banking jobs as it soaks up Merrill Lynch. The combined companies will have about 260,000 employees, with 50,000 representing the investment banking division.

And finally ... someone got a brain in the public relations department at the Big 3 Automakers. General Motors announced today that its CEO, Rick Wagoner, would drive to Washington instead of flying. The CEO who flew by private jet in for his last appearance will drive a Chevy Malibu hybrid from Detroit to DC. Ford's CEO, Alan Mullaly will also be driving from Detroit.

Check this out!! All Pain and No Gain?

While the most recent data released by the Federal Housing Finance Agency (FHFA) may initially seem to indicate "all pain and no gain" taking time to delve a little deeper into the numbers shows a few clear-cut nuggets in an otherwise pan of silt.

The pain..U.S. home prices fell 1.8 percent in Q3 as compared to the previousquarter...the largest in the purchase only index 17 year history.

Four states continue to see double-digit declines including Nevada (-20.9%), California (-20.8%), Florida (-16%) and Arizona (-13.5%).

Some gains...Some states actually managed to exhibit price increases even while most of the nation continued to show declining sales figures; North Dakota (4.0%), South Dakota (3.9%), Texas(3.2%), Alabama (2.8%), and Oklahoma (2.8%). Some cities also showed price appreciation including Austin-Round Rock, TX (5.6%), Augusta-Richmond County, GA-SC (5.5%) and Rapid City, SD (5.4%).

So what does this mean to us...Tell Your investor friends and neighbors NOW is the time to get into Real Estate. Use Voice Broadcasting to spread the word. Word of mouth is good also. Texas is alive and ready. So are other states. Get out and find those properties and locate those end buyers. Do those short sales and get those REO's. Have we got a deal for them. May this be a great way to end the old year and begin a New Year.