Falcon Point

THE ESTATES, THE NEST, FALCON NEST: Currently there are 10 homes on the market ranging from $195,000 to $384,000. Sales totaled 41 (up from 26 in 2010) with 7 under $200,000, 22 between $200,000 and $299,999, 8 between $300,000 and $390,000. The previous year, 2010, recorded 26 sales comprised of 4 under $200,000; 26 between $200,000 and $299,999 and 6 over $300,000. The average price per square foot was $84 in 2011 and $83 in 2010. The Average Cumulative Days on the market increased from approximately 84 in 2010 to approximately 113 in 2011. Our Falcon Point market remains very stable in a market that has become much smaller since 2010 than in prior years. We also experienced only 1 foreclosure early in 2011. It is interesting to note that we actually had more sales in 2011 than in 2010 when buyers were assisted by the Federal Home Stimulus Program that ended in April 2010. Our market has returned to a normal sales cycle of increased sales in the Spring and Summer months. The continuation of low interest rates certainly made it possible for more buyers to purchase a home in 2011. Hopefully, those rates will remain as reasonable for 2012.

FALCON LANDING: In all sections of Falcon Landing, 8 homes are on the market ranging from $154,900 to $300,000. Sales totaled 28 ranging from $138,000 to 262,000. The average price per square foot of approximately $80 remained the same as in 2010. Homes were on the market a cumulative 40 days in 2010 and 84 in 2011. The number of sales rose slightly from the 2010 total of 24 to 28 in 2011 indicating stability for this maturing subdivision. In the early years Falcon Landing enjoyed a large first time homebuyer market that would move up as soon as they were able. Today, while you still see some first time homebuyers, their neighbors are now more likely to be long time residents.

The increase in the 2011 market time over 2010 in both Falcon Point and Falcon Landing can be attributed somewhat to the overhaul of the mortgage industry. Although mortgage rates remained low in comparison to previous years, buyer qualifications for a home mortgage became much more stringent. In addition to upgrading the quality of mortgage candidates, a greater scrutiny of home values was also required before any funds could be released for purchase. As a result, the market time was lengthened by the additional measures taken to weed out some of the marginal and weak practices of the past few years. Contrary to the opinion that the market would suffer , it appears that confidence and stability strengthened and brought increased interest evidenced in the greater number of sales in 2011. Of course, there is no doubt that the Houston area’s strong economy played a bit part in our success.

CHANGES IN TEXAS PROPERTY TAX LAWS AFFECTING RESIDENTIAL HOMESTEAD EXEMPTIONS. The beginning of each year brings an opportunity to claim an exemption for your Homestead (Primary Residence) which will reduce your property taxes. To qualify for this exemption, you must have resided in the home on January 1 of the tax year requested. The exemption for the tax year requested must be filed with your county appraisal district between January 1 and April 30 of the new year. If your exemption was approved for the prior year, no new application is needed unless the chief appraiser requires a new one to confirm your current qualification. For those filing for Disabled Person or Age 65 you must apply for the exemption no later than the first anniversary of the date you actually qualify. In addition, you may file a late application residence and a 100% disabled Veteran after the filing deadline has past if it is filed not later than 1 year after the delinquency date for the taxes on the homestead.

THE CHANGES INCLUDE:

1. Provide the Appraisal District a copy of either your Texas Driver’s License or Texas ID Card.
2. The address on your Driver’s License or state ID card must match the physical address of the residence for which you are applying
3. This address must also be the same as the address on your vehicle registration. Attach a copy of your vehicle registration receipt to your homestead application.
4. If you don’t own a vehicle, you may complete the Non-Ownership of Motor Vehicle Affidavit on Page 4 of the Homestead Exemption. This is a sworn statement signed before a Notary Public. Also attach a copy of your homestead exemption application of a utility bill for the homestead property showing the bill is in your name and the utility address matches the physical address of the homestead property.
   If you have a current Texas Driver’s License and move to a new location in Texas, you have 30 days to change the address on your driver’s license. It is simple To Do It Here! with a valid credit card for the $10 fee. Or you can go to a local DPS location. For a new Texas Driver’s License, go in person to a DPS location with proof of identity (Social Security Card, Birth Certificate or out-of-state Driver’s License) and proof of vehicle registration. Be prepared to be photographed, fingerprinted and personally sign a document and pass a vision test. First time applicants should schedule a time to take a driving test and pass both that test and a written one. You may also apply for a Texas ID card. The current fee is $16 for those under 60 and $6 for those over 60.

   WHOLE FOODS IS COMING……to Grand Lakes Market Place at the corner of the Grand Parkway and Fry Road. Stein Mart is to be the second anchor with a proposed Cost Plus as a third. Other prospective businesses are Carrabbas’s, Menchie’s and Massage Heights. Construction is expected to be completed by late summer 2013. It will be great to have some new and varied choices close by!

   Stay warm!! Or….cool!!! Whatever our delightful climate brings…..

   Of course, for those of you who are considering a move, CALL ME at 281-578-4425  for an enlightening discussion of….PROACTIVE MARKETING, PROFESSIONAL CREATIVITY AND PERSISTANT EXECUTION designed to bring you the PHENOMENAL SUCCESS of a timely sale at the best possible price.

   ANNE

     
   Anne Solcher