According to CNN News, the homebuyers tax credit has been extended; the bill now goes to President Obama for signature:

“The legislation would extend the $8,000 homebuyer tax credit to contracts signed by April 30, 2010 and closed by June 30, 2010. The controversial credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.

The bill also creates a $6,500 credit for those who buy a home after living in their current house at least five years. That measure would apply to contracts signed by April 30 and closed by June 30. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.

The credit would be available only for the purchase of principal residences priced at $800,000 or less.

The bill would raise the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.”

Grab your pint-sized goblins, princesses and superheroes and head to LaCenterra’s Trick-or-Treat down Main Street this Halloween – Saturday, October 31 from 5:30 p.m. – 7:30 p.m.  A safe alternative to door-to-door trick-or-treating, this free event is open to kids 10 and under accompanied by a parent or guardian.

Who’s treating?  Spot the participation pumpkins for retailers offering tasty treats for the little ones and spooktacular offers for parents.  The first 250 kids will receive treat bags courtesy of LaCenterra retailers. Bags will be available for pick-up in Heritage Square (central courtyard) beginning at 5:30 p.m.

Boo there, or … boo square!

For more information, please visit www.lacenterra.com or call (281) 395-5533.

Let’s look at the last six months of statistics. Below, see pricing. While, it does not show a truly positive change, it is moving upward from its recent low. Today, the average price is approximately $122,000.

Another dominant factor is days on the market, see below. How long does it take a home to sell? What is the average? As plotted below, the average days on the market in 77449 is 155. This is a decline from July’s high of 160. Some of these quicker sales represent foreclosures and short sales that do not remain on the market for long but conventional sales are doing better, too.

What’s the current status of inventory? Increasing or decreasing? Decreasing is far better for sellers. Guess what! The number of houses on the market in 77449 is going down. For a more detailed explanation of how inventory affects the market, read my earlier article on absorption rates. See the details of the inventory decline below.

To obtain detailed data on Zip Code 77450, see OnlyKaty.com.

For information on the value of your home, contact me @ 713-818-2404. I also offer financial incentives for my sellers and buyers.

While at this time it is only available to Fort Bend buyers, there is a new loan program that makes financing a first home much more affordable and easier. It saves the homeowner up to $2000 off their taxes each year for the life of the loan.

The Mortgage Credit Certificate allows the lender to qualify for more home or to get approved if they have been denied in the past. The Mortgage Credit Certificate Program can be used to gross up income or ratios to enable the borrower to qualify for a mortgage loan.

The Mortgage Credit Certificate Program is available to first-time homebuyers, defined as a person who has not owned a home as a primary residence in the last three years.

One of the most exciting features of this program is that it can be combined with the current first-time homebuyer’s $8000 tax credit resulting in a credit savings of $10,000 in 2009! However, the $8,000 tax credit program expires on November 30, 2009 so it is important to buy your home prior to that date. If you act quickly, there is still time to shop for and close on a home.

The Mortgage Credit Certificate allows the homebuyer, if there is a tax liability, the benefit of a dollar-for-dollar reduction of their tax bill. The program enables the homeowner to claim a tax credit of 30% of annual  interest paid, not to exceed $2000 per-year, for the life of the loan.

This program is not for investors but for those who will purchase and occupy a home for at least nine years. If the Mortgage Credit Certificate borrower sells his house within nine years, makes a profit and if his income has greatly increased, the homeowner would have to pay back a % depending on what year he sells. The penalty decreases every year.

With low interest rates and the $8000 tax rebate program, there has never been a better time to become a home owner!

There is also a new loan program aimed at assisting teachers, police officers, firemen, EMS personnel, correction officers, school nurses, teacher’s aides, librarians, school counselors and county jailers to purchase a home. This program is not limited to Fort Bend County! For details, see an article I wrote for Only Katy.com: “Special Mortgage Loan Program Helps Teachers, Police Officers and Public Servants Purchase Homes”.

For more details on both programs and to be referred to a Mortgage Credit Certificate lender, contact me @ 713-818-2404.

For information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404. I have specialized in Katy real estate for over 20 years. Experience does count!

Allan A. Philiba, a local award-winning location photographer, art director and graphic designer is the featured artist at Artists@Work Show and Sale which opens with a reception on October 10, 2009 from 7:00-9:00pm at the Katy Visual & Performing Arts Center (KVPAC).

Allan’s show will hang at KVPAC until November 11, 2009. His artwork is available for purchase.

KVPAC is located in the Great Southwest Equestrian Center, approximately 2.5 miles south of I-10 on Mason Road.

Born in Paris, Philiba studied art and design in New York City. An Army Corps of  engineer veteran, he has specialized training in camouflage and engineering construction. He has designed advertising and promotional campaigns for scores of Fortune 500 corporations.

His “on location” photography, created throughout Western Europe, Eastern Europe, Asia, North America, South and Central America, Mexico, Asia and the Caribbean has appeared in numerous major publications. Philiba has a myriad of major clients including the US and French governments.

Featured in “American Photographers” an illustrated “Who’s Who” among photographers, he recently won first place for a single photo. He was awarded first and second place for his two acrylic paintings entered in the recent Katy Area Artists group’s competition.

Philiba has won awards in Florida for his paintings and photos. He has also been featured twice in the “Orlando Sentinel” Sunday Leisure section as well as in national photography magazines. He has been teaching painting and photography for the past 9 years in Florida and Texas.

For more information visit KVPAC’s website.

For information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404. I have specialized in Katy real estate for over 20 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 this blog. For questions or to tour any area homes, contact me directly at 713-818-2404. I have specialized in Katy real estate for over 20 years. Experience does count!

A new Houston homebuilding company is looking to the city’s past for inspiration, starting out with a new series of designs influenced by homes in historic Houston neighborhoods such as West University and the Heights.

Now building in Park Place at Cinco Ranch, a neo-traditional styled neighborhood in the 7,600-acre west Houston community, J. Kyle Homes has been started by Jason Hammonds, who is serving as president of the new homebuilding company.

J. Kyle Homes has started construction of its Cinco Ranch model home, with plans to open the model in November. J. Kyle is now pre-selling in Park Place at Cinco Ranch, where Highland Homes already has a vintage-inspired model open.

J. Kyle Homes are priced from the $280,000s to $400,000s in Park Place at Cinco Ranch.  Ten one- and two-story plans are offered, ranging from 2,500 to 3,800 square feet.

Called the University Series, the J. Kyle floor plans have nostalgic features such as sprawling front porches, high-pitched gabled rooflines, and shingled siding combined with brick and stone. Most plans also have detached garages, another nod to retro style.

Designed by Austin’s Kipp Flores Architects, the plans are decidedly modern inside, with open, flowing spaces accented by crown molding, columns and arches.

Planned for 120 homes, Park Place at Cinco Ranch offers an appropriately old-fashioned setting for the vintage designs by J. Kyle and Highland. The main street is a wide, esplanade-lined boulevard inspired by Houston’s historic Heights Boulevard. The Cinco Ranch version has a winding walking trail, a white gazebo, benches and flowering trees.

Homesites located along the boulevard are bordered by brick and stone retaining walls. The homesites are raised, with steps leading up the sidewalk, and some of the retaining walls have built-in benches facing the street.

“At Park Place, we wanted to offer home buyers the type of neighborhood and home they grew up in, or always dreamed about living in,” said Heather Gould, marketing director for Newland Communities, the developer of Cinco Ranch.

Gould said variety is one reason why Cinco Ranch ranked as the number one community in Houston for new-home sales last year, and also ranked number two in the nation, according to a report from RCLCO, a national real estate advisory firm.

For information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404. I have specialized in Katy real estate for over 20 years. Experience does count!

The third largest co-ed triathlon in Texas, the Annual Katy Triathlon, has announced plans to move to Firethorne this fall. Renamed the “Katy Triathlon at Firethorne”, the USA Triathlon-sanctioned race will be held Sunday, October 25, 7:30 a.m. to 11 a.m., in and around the 1,400 Katy/Fulshear community.

“Hosting the Katy Triathlon is such a natural for us because of our involvement in competitive sports and fitness in Katy,” said Firethorne General Manager Wayne Meyer. Firethorne built the Houston area’s first regulation lacrosse fields. Hike/bike trails are sponsored by the SpinCycles cycling team and Tortoise and Hare  5K/1M Run/Walk.  There is also an on-site fully-equipped Fitness Center featuring certified trainer Peggy Skaggs.

Individual athletes as well as relay teams will compete in a 1/3-mile swim around the 12-acre Lake Firethorne, as well as a 15-mile bike race and a 3-mile run through Firethorne. The cycling route will include sections of FM 1463, US Highway 90, Pederson Road and the I-10 West corridor, Westpark Tollway and the Grand Parkway.

“Firethorne’s lake and proximity to wide spaces of rural areas is conducive to having a successful 3,000 person triathlon,” said veteran Race Director Dave Rainey. As a Houston City Triathlon Championship venue, more than 1,000 athletes and 2,000 spectators, (including many from out-of-town), are estimated to participate.

The competition was previously called the Cinco Ranch Triathlon.

The registration fee is $60 per person and $85 per relay team through October 2. From October 3-18, the fees are $70 and $95, respectively. Registration is available online.

The Rotary Club of Katy, race sponsor, donates event proceeds to the Katy Rotary Fund, which supports local charities for their work in providing essential health, recreation and educational services to children in the Katy ISD attendance area. Cinco Ranch High School FBLA, Rotary Interact Club and Boy Scouts provide volunteer support for the race. Race sponsorships, underwriters and in-kind underwriters are available. For information, call 1-800-852-8228.

Firethorne is located 15 miles west of Houston’s Energy Corridor. It blends the best nature has to offer: 150 acres devoted to parks and recreational amenities, a 12-acre lake with surrounding greenbelt, hike/bike trails, parks and playgrounds, discovery-rich wildlife observation area and a natural bird habitat. Served by the award-winning Katy ISD, Firethorne combines the vibrancy of West Houston with the small-town charm of Katy/Fulshear.

To reach Firethorne, take I-10 West and exit Pin Oak to FM 1463. Call 281-395-1440 or visit Firethorne online.

For information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404. I have specialized in Katy real estate for over 20 years. Experience does count!

Local conditions are currently quite strongly in the Buyer’s Market zone with several months of inventory available at the current sales rate, buyers should find ample choice. However, inventory is no where near it’s early summer high.  For an in-depth explanation, see my earlier article on absorption rates.

Days on the market is another vital statistic when evaluating market conditions. While time for sale has steadily gone up from the low dip in June, market time has not returned to the high in early April. There is another downward turn a the beginning of this week. This bodes well for Zip Code 77494.

For information about Katy area homes, you can search the entire Houston MLS from this blog. 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 20 years. Experience does count!

Hard to believe but these are actual photos found on HAR. com. Unedited.  No fooling. Enjoy!

For information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404.  I have specialized in Katy real estate for over 20 years. Experience does count!