To borrow a line from Eleanor Roosevelt, these clearly are “no ordinary times.”
It’s been an interesting fall season, to say the least. First, Hurricane Ike hit, which either left most of you without power for some time or sent you on a hurrication. Then, we looked up into a $700B government bail-out bill, which after one failed attempt, was signed into effect on October 3rd. And then, there’s the upcoming election, to boot!
So, what does all of this mean for the Houston Real Estate Market?
If your house was in the path of Ike & you haven’t had your house checked by a professional, you might want to consider calling Fox Inspection Group to come out & do a post-hurricane assessment of your house.
They’re offering a $250 inspection that covers exterior walls, roof, attic/roof structure, interior walls, ceilings, floors, windows & exterior doors. For more information on this, visit
Fox Inspection.
And then, there’s the bailout.
After one failed attempt to pass an economic relief package, the Congress sent the final version to the President for signature early this month.
Aimed at buying up the bad debts of failing institutions, the bill also included extending bank deposit insurance and expired tax breaks, among several other “pork” packages.
Despite the added pork, the core of the package remains intact. The Treasury Department will have $700 billion at its disposal to purchase bad mortgage-related securities that are weighing down the balance sheets of the institutions that hold them.
The purchases should help improve the flow of credit, which has impacted everything from consumer’s abilities to make purchases to companies’ abilities to make payroll.
In the midst of that news, PMI Group, in their recent study, announced that Houston is in the top 3 of major metro areas across the country that is least likely to experience home-price depreciation in the next year.
At last, some good news – and a reminder that Houston remains a strong market in which to own a home.
To Read The Summary Click Here.
To read the actual study by PMI Group, Inc., click here
And finally, it’s election time.
Regardless of your views, it’s important to be a part of the process – and with early voting, there’s no excuse not to be! Early voting begins October 20th – 31st & Election Day is November 4th.
For more information on voting, go to www.harrisvotes.com. For your convenience, I’ve included the voting location map for Harris County below.
See the Voting Map Here
