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Homeowner Tax Deductions that May Help You Out 

Let’s face it, taxes are here to stay and will only increase as time goes on.  We all need to pay our fair share but you shouldn’t pay more than you have to.  As a homeowner, you’re paying not only income tax but also property tax.  Here are some ways you can boost your tax savings by taking advantage of Homeowner Tax Deductions.

Mortgage Interest and Refinancing

For most of us, a large portion of our monthly income goes directly toward the house payment.  Thankfully, you can deduct the following on your on your taxes:

Interest Paid on the Mortgage

• Points and Origination
• PMI (Private Mortgage Insurance)
• Interest on a Home Improvement Loan
• Interest on a Home Equity Loan (up…

Our Houston area real estate market is hot and has been for some time now.  With limited inventory and an influx of home buyers into our market, the average sales price of a single family home is up 22% over the same time last year.  The total number of active listings is down 15.9%, and the months of inventory is just 2.6%.  Wow!!!  New home starts are on the rise but had previously been so lagging that it will take some time for them to impact the demand in the housing market.  

With all of that being said, now is the time when you really need an experienced Realtor - whether you're buying or selling a home.  

For Buyers - If you're a buyer, you will want to:

• Have your pre approval letter ready to submit with any offer you make.  Home…

This just out - May home sales in the greater Houston area marked the 24th straight month of positive home sales and accounted for the largest one-month sales volume of all time and record-high pricing.  Needless to say, this is causing a further shrinkage in the short supply of Houston area homes on the market.

According to HAR's latest monthly report home sales jumped 28% compared to May of last year, with contracts closing on 7,794 single-family homes during the month of May. Both the median price and average price of single-family homes saw increases. The median price rose 11.9% over last year to $188,000.  The average price increased 9% year over year to an all time high of $256,790.

Homes selling between $150,000 - $500,000 saw the greatest…

The latest monthly data prepared by the Houston Association of Realtors, home sales are up 17% compared to the same time last year.  March housing inventory was down slightly from January and February to just 3,5 months!

The lower supply of homes and high demand has caused prices to rise.  The median price of a single-family home rose 6.5% to $172,000, setting an all time record high for Houston.  The average price rose 4.6% compared to the same time last year, reaching $236,195.  This is the second highest price level ever.

5,779 Single-family homes closed in March, setting the largest on month sales volume since August 2012.  All housing segments saw gains except those priced below $80,000.  The greatest sales volume increase were in homes selling…

With the Houston market as hot as it is and inventory at near record lows, pocket listings are becoming more an more common. So, you might be wondering just what is a Pocket Listing?  A Pocket Listing is a listing that doesn't show up on the MLS. 

The homes are sold by real estate agents in private, off-market transactions and are never seen by the buying public.    It's not a new term, the practise has been around for years and is usually requested by the sellers for privacy reasons.  The listing agent enters into a listing agreement with the seller and then the agent tells other Realtors about the listing.  The home gets shown and a contract is offered without ever being offered publicly.  Once the home is under contract, the agent posts it for…

Homes in The Woodlands are selling at an incredibly fast pace.  The average months of inventory is just 1.7 months, based on the past 12 months of sales activity.  With just 219 homes currently listed for sale, The Woodlands housing market has reached what many consider to be a housing shortage. 

Visit The Woodlands Home Finder Center and you'll see steady stream of people coming in to find out more about the area.  It seems like everyone moving to the Montgomery County area wants to live in The Woodlands.

I'm finding that the buyer's attitude has changed somewhat over the years.  In the past, buyers were looking for a home that needed a little work or minor cosmetic changes.  They wanted to put in "sweat equity" to add value to their investment. …

Yes, Houston is hot and I don't mean the temperature.  The Houston Real Estate Market is muy claiente!  Prices are up, inventory down and to top it all off, Forbes Magazine just recently voted Houston "The Coolest City" in America.  Wow!  Let's take a look at what's happening...

Houston has something that other major US cities do not have - jobs.  We saw a 2.6% increase in job growth last year, and nearly 50,000 people moved to the area.  Houston has an unemployment rate of 7%.  The national unemployment rate is 8.3%.  Houston's entertainment options, recreational opportunities, as well as the city's cultural composition has helped shape our city, making it a great place to live, work, and play.

With an increase in the job market and more people…

Don't be fooled by all the rumors swirling around the Internet and among friends about Obama health care legislation and the 3.8 percent property tax.  Here's what really happened:

The Health Care and Education Reconciliation Act of 2010 and Patient Protection and Affordable Care Act were signed into law in March 2010.  The acts impose a 3.8  percent investment tax on unearned income above  certain levels to help fund Medicare.  Numerous state attorneys general have filed lawsuits challenging the Acts, and the Supreme Court has heard oral arguments on these Acts.  A decision should be reached sometime this summer.  IF they are to be ruled legal and constitutional, then the following will go into effect on January 1, 2013.

First of all, only…

The San Antonio Business Journal is reporting that only two U.S. metro areas have seen increases in home values since 2007 - (the year in which home values peaked) and they're both in Texas!  Houston and San Antonio.  I feel so blessed to be located in the greater Houston Area!

According to FNC Inc., a mortgage technology company based in Oxford, Mississippi, Houston reported a 4.8% increase in home values and San Antonio saw a 2% increase.

Nationally, home prices were down 3.5% at the end of 2011, compared to prices reported in 2010.

In other real estate economic news today, The Houston Business Journal is reporting that Houston is expected to add 91,000,(yes, that's 91,000) jobs in 2012, according to a new report out from Marcus & Millichap. …