Are you heading to Lake Conroe this weekend?  Here are some facts that you might find interesting:  Highway 105 crosses at the southern edge of the lake, FM 1375 on the northern edge, and FM1097 slices through the middle.  The length of Lake Conroe is 19 miles, while the width is 5 miles.  Planning for the water reservoir came about after a 7 year drought in the 1950′s.  Building the dam started in 1968 and the project was completed in 1973.  The project was a joint venture with the City of Houston, which has rights to 2/3 of the water supply in the reservoir.  This explains why, during the drought of 2011, the City of Houston was permitted to drain off water from an already low lake because they needed the water supply.  November 20, 2011 the Mayor’s office announced that the City of Houston would suspend the release of water.  Now we watch and wait for the water to rise.

Can projections be made to adequately give us a time frame of how long it will take our parched lake to return to normal?  No!  January 10th, 2012 the San Jacinto River Authority posted a report titled, “Lake Conroe’s Level Rebounds.”  Blake Kellum, the Lake Conroe Division Manager, reports that 2-4 inches of rainfall that week had risen Lake Conroe’s level approximately 3/4 of a foot to an elevation of 193.79 mean sea level (normal pool is 201msl).  This report can be found at www.SJRA.net under “Quick Links” select “Lake Conroe – Lake Report”  The San Jacinto River Authority holds fast to any predictions of what length of time for us to see a normal lake level will be false.  It all depends on how much rain, how often we have rain, and how fast the rain falls. As a matter of fact, simply while writing this blog the website has reported a rise of the lake to 194.07msl!  This is good news, check the website often for up to date information and reports.

If you are planning on bringing your boat be sure to check the San Jacinto River Authority website www.SJRA.net  for the list of Public Boat Ramps Open.  Currently they are listing Kagle Recreation Area, Lakeview, and Stow-A-Way Marina as Open boat ramps.  There is also a google map tab on the website to help you locate the open and also the closed ramps.  You will find phone numbers for many of the ramp sites.  I suggest calling before you arrive to confirm information.

Now that we have covered the facts of Lake Conroe let’s take a moment to review some of the facts of Real Estate in the Conroe, Montgomery and Willis market areas that have communities on the lake front.  After reviewing Sold statistics from the summer 0f 2006  and the last 6 months I am finding that property on the lakefront is lowered by approximately $15 – $20 per square foot.  Those statistics were gathered from a prestige golf course community, with properties situated on Lake Conroe.  Does this mean that Buyers can automatically think all Sellers will reduce their asking prices?  No!  A Buyer needs an experienced Buyer’s Representative to help them compare Sold statistics in the neighborhood in order to place a reasonable offer and negotiate a purchase.  Many of the Luxury home sites are reducing the selling price by thousands of dollars.  While more modestly price homes, that are priced correctly on MLS are selling right on the money of the list price in MLS.  Do not assume that you can automatically place a low offer and have it accepted by the seller.  This is where the knowledge from your Realtor® becomes very important.

I would love to be your Realtor® for the Lake Conroe area in Conroe, Montgomery or Willis.  Let’s talk about whether you are looking for a second home with characteristic and extreme get away quietness from the hustle and bustle of city life … maybe a log home community tucked away in the tall pines of the Sam Houston National  Forest (Wildwood Shores), or perhaps you telecommute and would like the views of the forest while not being quite as far away (Corinthian Point).  Are you looking for a maned gated community off 1097 (Point Aquarius)?  Do you want golf course, social clubs and lake amenities (April Sound or Bentwater)?  Perhaps some where you could live year round with reasonable commuting drives into the City of Houston (White Oak Landing or Longmire on the Lake),  These are just a few of my suggestions.  We need to sit down and talk about your Dream Home on Lake Conroe so that I can help you shop for that special location!

Standing by to be your Realtor® …Call now Judy Reynolds at 936-203-7761!

Ever wonder how to find the right builder to build your family a home?  Below are my Top 10 recommendations for finding the builder that is right for you!  If you would like to purchase a home, RREA has many experienced and seasoned Realtors that can help you and there is no cost to you.  Your builder will pay our commission!  Call RREA today to find the Realtor that best meets your real estate needs – 281.288.3500.

10.  Use a Realtor!  Realtor’s comply to a strict Code of Ethics and are licensed by the state.  They have a fiduciary responsibility to protect your best interest in a transaction.  Builders do not fall under this Code of Ethics.  They are looking out for their best interest, and many times have their attorneys write their contracts for them.

9.  Find the areas of town you want to live in and interview the builders that will build in those areas.

8.  Get Pre-Approved for your Financing or have a letter from your financial institution stating how much home you can afford to buy.

7.  Figure out the type of home you want – ranch style, basement, two story, patio home, etc.

6.   If your Realtor is a member of the Greater Houston Home Builders Association they have access to the list of builders who construct homes in the area.  All of the Realtors at Register Real Estate Advisors has access to this membership list.

5.  Once you have narrowed down a list of builders, see some of the homes they have under construction and some that have been completed.  Ask for testimonials from their clients or references.

4.  Before picking a floorplan, walk through as many new homes as you can.  You can do this by attending open houses or visiting new communities.  This way you can see the differences between builders and find ideas you want to incorporate in your new home.  Check out the quality of the homes and see what building trends they use (bay windows, art niches, etc.)

3.  Remember that you will be picking your tiles, carpet, countertops, paint, appliances, and much more.  When touring homes and looking at magazines, inspect these items to find out what you like best.  Take lots of notes to share with your builder and photos if possible.  Ask lots of questions!

2.  Your goal should be to find a builder you trust and feel comfortable talking to.  You will have a close relationship during the months that your home is being built.

1.  When you finally pick your builder, ask about his company history, experience, philosophy, and building and payment process.  Talk with the builder at length about what your expectations are for the new home.

November 2011 real estate search results are in and Houston, TX was the #27 most searched market in the country in November 2011, based on data released today by Realtor.com, the #1 homes for sale real estate web site.  The Median list prices for homes in Houston, TX hit $174,500 in November 2011, a 2.79% increase from one year ago this month, and -0.20% decrease from October 2011.  The national median list price in November 2011 was $189,900, a 4.05% increase compared to November 2010.  Active for sale inventory of homes in Houston, TX in November 2011 leveled out at 24,561, a -21.68% decrease compared to November 2010. National inventory counts for November 2011 were 2,014,352, a -21.30% decrease as compared to a year ago.  The median age of inventory in Houston, TX in November was 91 days, a 2.25% increase compared to October 2011.  Nationally, the median age of inventory was 114 days, a 3.64% increase compared to October.

Hey guys! It’s White Board Monday again. This week is the 10 reasons why your short sale was not improved. Hope you find it informative.

You can find the original article at Market Watch.

By Ronald D. Orol

WASHINGTON (MarketWatch) – Freddie Mac on Friday announced that it was moving to help unemployed homeowners by expanding its forbearance options so unemployed borrowers with Freddie Mac owned or guaranteed mortgages can have their loan payments suspended or reduced for as much as 12 months. Specifically, the government-seized mortgage giant said it was giving mortgage servicers the option of providing six months of suspended or reduced payments to unemployed borrowers without Freddie Mac’s prior approval and as much as an additional six months with the firm’s approval. Previously Freddie Mac allowed servicers to grant up to three months of forbearance with no payment and without prior approval, or six months at a reduced payment with written prior approval. “These expanded forbearance periods will provide families facing prolonged periods of unemployment with a greater measure of security by giving them more time to find new employment and resolve their delinquencies,” said Tracy Mooney, a senior vice president at Freddie Mac. The expanded options will take effect on Feb. 1.

Good information for those with youngsters. You can see the original article at Ultimate Spring.

Young Einsteins Math and Science Academy has opened a location at 26420 Lexington Road in Spring and is enrolling full-time students.

The school, for students ages two-and-a-half to 6, has a curriculum that focuses on learning through discovery and inquiry, designed to give children a strong foundation in the subjects of language arts, reading, writing, math, and science, according to a press release.

The school’s director is Carol Hamilton, who was an educator in Texas for 33 years and retired from Aldine ISD.

For more information, call 281-288-3900 or visit www.youngeinsteinsacademy.org.

The time is now to File your Homestead Exemption. You may apply for homestead exemptions on your principal residence. Homestead exemptions remove part of your home’s value from taxation, so they lower your taxes. Additional information for rules governing the Homestead Exemptions can be found on the Texas Comptrollers website. For those of us in Montgomery County, Texas who need the forms they can be found here. There are some changes this year if you are new to filing so pay special attention to the documents that must be copied and sent with the form. If you are ready to search for property in Conroe, Willis, The Woodlands, or Spring let me know. Let’s get you moving this year while interest rates are low!

Here is some great information about short sales and the Mortgage Forgiveness Debt Relief Act written by Bryan Ellis.

Short sales are becoming more and more common, but that could change if the tax break that currently does not force homeowners who do short sales to claim the forgiven debt on their tax returns is not extended. At the end of this year, the Mortgage Debt Relief Act, also called the Mortgage Forgiveness Debt Relief Act, will expire if changes are not made to the legislation. When this happens, the amount a short sale falls short of the amount owed on a property will, once again, be viewed as income to the former homeowner and will likely make short sales far less attractive to nearly every distressed property owner.

Additional fallout could take the form of more strategic defaults once short sales are no longer an option, warn analysts. If homeowners stand to lose money in the form of additional taxes on the “forgiven” debts on their homes, they may simply opt to walk away from the property all together and hope that the lender ultimately recoups the bulk of the debt when the property is auctioned off or otherwise sold. Of course, in the case of strategic defaults – or other forms of foreclosure as well – lenders can pursue the delinquent borrowers for the difference between the amount that they owed on the property when they stopped paying and the amount the lender was able to make when the property was sold.

These debts are often difficult to collect, but some lenders opt to wait years before pursuing them in order to allow former homeowners to get back on their feet. Others sell the debts to third-party collections companies. Even if this part of the debt is ultimately written off, it can create tax problems years down the road for homeowners because when the debt is written off it may be considered income to the homeowner.

For the most part, real estate professionals are hoping that the Mortgage Debt Relief Act will be extended before it expires on December 31 of this year. If not, “it will be a shock to many taxpayers after 2012,” warns Mark Steber, a tax officer for Jackson Hewitt Tax Service. If the legislation is not extended, more homeowners may opt to declare bankruptcy in order to avoid paying income taxes on their “forgiven” debts.

Do you think that the Mortgage Debt Relief Act should be extended through 2013? Article Compliments of: Bryan Ellis

a great time and a great turn out for Champions School of Real Estate’s career fair yesterday at their FM1960 location. Many new agents looking for the perfect brokerage.

When you purchase a new home or a resale home, you will want to make sure your home has sufficient insurance coverage.  You want a homeowner’s insurance policy that will cover your new house and all of your family’s items inside.  To determine how much insurance you need, figure our how much it would cost you to rebuild your house today on your existing lot.  Your personal property coverage should then be anywhere from 55-75% of that amount, according to most insurance salesman.

If you live in Texas, you know there are natural disasters that take place.  Along the coast, we have to be prepared for hurricanes.  In other areas, there are wildfires.  Damage caused by natural disasters such as flooding, earthquakes and hurricanes are not covered by regular homeowner’s policies, so depending on where you live, you may want to consider additional coverage.  Your insurance agent can help you figure out the right amount of coverage and suggest upgrades or additional policies that would be appropriate for your specific situation.  In the Spring and Woodlands area I recommend LaVon da Fletcher at State Farm Insurance.  She and her team are experts at helping homeowners figure out how much insurance they need.