Katy Texas

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New Home Sales Tumbled In April, Unchanged Year-Over-Year

So much for the Trump bump euphoria. New home sales tumbled in April, posting at a seasonally adjusted annual rate of 569,000. This was 73,000 below the revised March figure and far below analysts expectations. Then again analysts haven't been paying attention to the real economy, so this latest data is not a surprise to anyone who doesn't have their head in the sand. Year-over-year, new home sales for April are back to unchanged according to the latest Census figures. And just like that, the "pent up demand" that pundits have been talking about has [...]

City Of Katy Lands Amazon Fulfillment Center, But At What Cost?

"A tree falls the way it leans. Be careful which way you lean." As residents of Katy Texas are busy making their daily slog down the congestion of the Grand Parkway or the soon-to-be traffic debacle around what is arguably the most expensive high school football stadium on the planet, perhaps it is time to question the pursuit of endless growth and the "more is better" mentality that seems to be the mantra of local, state and federal officials.  As we learned this past week, Katy Texas is going to be the home of a [...]

NAR Finally Gets Real About Home Affordability Issues

The National Association of Realtors is out with a new method of gauging home affordability. As part of NAR's look at the the growing rift between housing availability and home affordability, NAR has developed a new affordability distribution curve and a home affordability score. The new monthly research is designed to look at home affordability conditions among different income percentiles, gauging how many homes on the market are actually affordable to various buyer income groups. The new affordability distribution curve and score show that many U.S. homes are no longer affordable to typical prospective buyers. [...]

Texas Renewable Energy Capacity Continues To Grow

Texas renewable energy growth is making important strides. Texas has been a leader in wind generation capacity for some time, but it appears solar energy is receiving long-overdue attention as well. A look at ERCOT's recent Monthly Operational Overview shows significant growth in renewable energy power capacity in Texas. In the November ERCOT report, Texas was tracking 247 active generation interconnection requests totaling 59,527 MW which included 26,643 MW of wind generation. As a leader in wind energy production, Texas already had 17 GW of wind-generated power production installed at the end of 2016. That's [...]

New Home Sales Rise In November To 592,000 (SAAR)

New home sales rose to a seasonally adjusted annual rate of 592,000 in November. Census Bureau numbers showed the average price of a new home contracted in November was $359,900, down from the average price of $376,800 seen last year. The median price of $305,400 was also lower than last year's median of $317,000. New home sales have been surprisingly strong for most of the year, posting double-digit increases compared to last year. Census revised previous months sales slightly lower, but all things considered new home sales have been fairly strong prior to the interest [...]

Mortgage Purchase Applications Stall With Higher Rates

Mortgage purchase applications took a nose dive in the latest MBA weekly survey. According to the Mortgage Bankers Association total mortgage applications decreased 9.4 percent for the week ended November 25, 2016. The mortgage refinance index fell 16 percent from the previous week. The unadjusted purchase index fell 34 percent from the previous week. The unadjusted purchase index is now 3 percent higher than a year ago. That's a significant decline from the double digit year-over-year increases we were seeing earlier in the year. The recent rise in bond yields and mortgage rates is going [...]

By | 2016-12-01T16:03:47+00:00 November 30th, 2016|Economy, Mortgage Rates, New Home Sales|0 Comments

New Home Sales Decline From Summer Peak, Median Price Lowest Of 2016

The Census Bureau reported a 7.6 percent decline for new home sales compared the election-year surprise we saw for July. Compared to August of last year, new home sales were still 20.6 percent higher than last year. It appears super low mortgage rates continued to provide some lift to the new home market. What did not rise in the latest Census report is the median price of a new home contracted in August. The median price of a new home fell to $284,000, down from $300,200 last year. The average price of a new home [...]

An Open Letter To Fort Bend County Commissioner Andy Meyers On Schlumberger Abatement

(Updated 9-22-2016) Thank you Mr. Meyers for responding to the concerns of our property tax protest group here in Fort Bend County. Unfortunately, I think you have missed the point entirely as to why the recent 10-year property tax abatement granted to Schlumberger is such a bad deal for area homeowners. I must say that I am amazed at the depth and breadth of crony capitalism as it currently exists in Fort Bend County. I find it interesting to see that Schlumberger has been granted a property tax abatement in our current environment of escalating [...]

2015 Fort Bend ARB Data Shows Preferential Treatment Of Commercial Property Owners

It is no secret that local property owners fed up with the operational corruption at the Fort Bend Central Appraisal District. Of course the real question is whether local and state representatives have the backbone to actually do something about it? I have detailed a number of the disgraceful behaviors taking place at the Fort Bend CAD, and how we are essentially wasting millions of dollars every year to support a rigged system. Each passing month seems to provide another data point that our local property tax system is nothing more than a giant sham [...]

Fort Bend County Wasting $10 Million Per Year To Maintain Operationally Corrupt “Appraisal” System

A look at the 2015-2016 budget for the Fort Bend County Appraisal District highlights how much money local taxpayers are wasting to support an operationally corrupt appraisal system here in Katy and throughout Fort Bend County. As I have detailed before, local appraisal districts have steamrolled local homeowners with skyrocketing residential property taxes and disparate treatment of different types of property owners, creating a two-tiered system where wealthy and commercial property owners have the resources and justification to pursue an expensive trial in district court. As I noted in my testimony in before the Senate [...]