Here is some summer fun for the kiddos. Perfect for a rainy afternoon or road trip! Enjoy!
GET THE LUKE ACTIVITY PAGELuke Activity Page
GET THE LUKE ACTIVITY PAGELuke Activity Page
Given how we have seen more unemployment claims than ever before over the past several weeks, fear is spreading widely. Some good news, however, shows that more than 4 million initial unemployment filers have likely already found a new job, especially as industries such as health care, food and grocery stores, retail, delivery, and more increase their employment opportunities. Breaking down what unemployment means for homeownership, and understanding the significant equity Americans hold today, are important parts of seeing the picture clearly when sorting through this uncertainty.
One of the biggest questions right now is whether this historic unemployment rate will initiate a new surge of foreclosures in the market. It’s a very real fear. Despite the staggering number of claims, there are actually many reasons why we won’t see a significant number of foreclosures like we did during the housing crash twelve years ago. The amount of equity homeowners have today is a leading differentiator in the current market.
Today, according to John Burns Consulting, 58.7% of homes in the U.S. have at least 60% equity. That number is drastically different than it was in 2008 when the housing bubble burst. The last recession was painful, and when prices dipped, many found themselves owing more on their mortgage than what their homes were worth. Homeowners simply walked away at that point. Now, 42.1% of all homes in this country are mortgage-free, meaning they’re owned free and clear. Those homes are not at risk for foreclosure (see graph below):In addition, CoreLogic notes the average equity mortgaged homes have today is $177,000. That’s a significant amount that homeowners won’t be stepping away from, even in today’s economy (see chart below):
In essence, the amount of equity homeowners have today positions them to be in a much better place than they were in 2008.
The fear and uncertainty we feel right now are very real, and this is not going to be easy. We can, however, see strength in our current market through homeowner equity that was not been there in the past. That may be a bright spark to help us make it through.
We’ve got a super new place to wine and dine in Brdgleand – Local Table has arrived. Yummy quesadillas are a family favorite so far… Locally sourced produce on your table and a lively suburban family vibe! – Check it out and let me know your favorites! ⠀ Lakeland Village Center at 10535 Fry Road in Cypress.⠀ ⠀ ⠀
#CypressTX #CypressTexas #PlacestoEat #Bridgeland⠀ #BlackhorseRanch #CypressCreekLakes #TowneLake ⠀ #CypressFood #Restaurants #CypressLife #LocalProduce #CypressLifestyle #CypressFoodie #CypressHomes ⠀ #CypressLifestyle #NextHome #NextHomeRealtyCenter #globalcuisine⠀
While it may be your own backyard – Houstonia Magazine says these are the tops when it comes to steak – the Harless family loves Pappas Bros Steakhouse!⠀
Pappas Bros. Steakhouse – Perry’s Steakhouse & Grille -⠀
Mastro’s Steakhouse – Doris Metropolitan -⠀
Killen’s Steakhouse – Taste of Texas – Steak 48 -⠀
B&B Butchers & Restaurant – Killen’s STQ⠀
Mastro’s Steakhouse – Doris Metropolitan -⠀
Killen’s Steakhouse – what’s your favorite?
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Landlords and Tenants and floods. I have been talking to a lot of people in the last few days and thought I’d put something here because the questions are flying now. As an FYI, I am a long time property manager, run a residential property management office, teach leasing and property management to REALTORS, and I AM NOT AN ATTORNEY. These comments are just from my experience and knowledge.
First of all, agents getting contacted. Please know that your responsibility and fiduciary duty ended when the lease was signed, but we are all helpful people and like to do so, just don’t get yourself sued. There will be lots of tense times ahead on both sides, some bad information going around, and it should be cleared up somewhat. I have lived through more disasters than I can remember and the first thing I will say is that everyone needs to be reasonable. We are dealing with maybe the Landlord’s entire retirement fund, and the tenant’s home with all their possessions.
Tenants – please contact your Landlord, even if just to tell them that you are OK and the property is fine.
Landlords – same, contact the tenant to see if they are OK and if the property is OK. If not, there are rules and options.
Tenants – if you don’t have renters insurance for your stuff – you are out of luck. The Landlord is not responsible for your possessions. That is what renters insurance is for and only if it covers floods.
Landlords – if the property is flooded and it is serious, then both parties have rights, options, etc. to properly terminate the lease and allow the tenant to move and get their deposit back. However, they can’t abandon everything because the roof leaked in a closet.
Landlords, be reasonable – you can’t make a tenant stay in a house no longer habitable.
The issues and the lawsuits come up when the 2 parties can’t agree on how bad or how long the repairs might take. Tenants, understand that the Landlord may not have flood insurance, most won’t in this storm, and even if they do, most that I have ever seen do not pay lost rents, meaning if you move out, the Landlord has no rent coming in while repairs are being made. So be reasonable and have the conversation soon. Also, repairs won’t be made overnight. This is the worst disaster in Houston history, and the worst I have experienced before took months and months to have claims filed estimates done, even qualified contractors to show up. The 2 winter storms we had in the 90’s that caused massive frozen pipe breaks had plumbers from around the country descending on Houston and they still took months to get around to all the homes flooded with water from broken pipes. (Hint: In these cases, with the time frames involved, until those pipes are fixed, the water was off, the sheetrock could have been growing mold, and those homes were uninhabitable). Hurricane Ike took us 6 months to get some roofs replaced as there simply weren’t enough tarps and adjusters and roofers to fix it all timely. So everyone please be reasonable and try to get through this disaster without suing everyone.
One last thing – Tenants – you owe rent until you move. Withholding rent while you are arguing can get you evicted. I have seen a lot of well meaning and troubled tenants evicted from slumlords when they didn’t follow the rules. Follow the rules. Get assistance if needed. But don’t bully.
RESIDENTIAL DEBRIS AND DAMAGE ASSESSMENT
For Immediate Release
HARRIS COUNTY, TEXAS—The Harris County Residential Debris and Damage Assessment Hotline is now open to assist Harris County residents living in unincorporated areas of the County with recovery and rebuilding after Hurricane Harvey.
Harris County Residential Debris and Damage Assessment Hotline – 713-274-3880
The Harris County Residential Debris and Damage Assessment Hotline staff is available to help residents answer questions about the following list of services:
Debris separation and removal from public roads and residential subdivisions.
Residential/Commercial Permits for repairing or replacing a damaged structure.
Phone numbers for other general recovery resources related to other basic needs.
The major goal of the Harris County Residential Debris and Damage Assessment Hotline is to ensure that public roads and other infrastructure do not pose an immediate threat to public safety. Harris County Residential Debris and Damage Assessment teams are currently working to conduct safety and damage assessments while clearing debris from public roads in areas where flood waters have receded. If you are in the process of clean-up and debris removal from your property, please take precautions to prevent disaster-related casualties and fatalities.
Be aware of damaged water, gas, and electric lines.
Be aware of damaged building and construction materials.
Do not attempt to conduct major tree work or reconstruction without proper equipment, permits, and training.
Be aware of household hazardous waste and contaminants.
Report any hazardous materials spills to: Harris County Pollution Control Services Department at 713-920-2831.
By the Energy Policy Act of 2005, daylight saving time (DST) was extended in the United States beginning in 2007. As of that year, DST begins on the second Sunday of March and ends on the first Sunday of November. These changes result in a DST period that is five weeks longer than previously in years where April 1st falls on Monday through Wednesday and four weeks longer than previously in years where April 1st falls on Thursday through Sunday. In 2008 daylight saving time ended at 2:00 a.m. DST (0200) (1:00 a.m. ST) on Sunday, November 2, and in 2009 it began at 2:00 a.m. (3:00 a.m. DST) on Sunday, March 8. Wyoming Senator Michael Enzi and Michigan RepresentativeFred Upton advocated the extension from October into November especially to allow children to go trick-or-treating in more daylight.
Source: Wikipedia