What most Houstonians forget as they ride along the vast expanse of pavement, is that there are an abundance of green spaces in the ways of parks and trails all over the inner loop.  Just outside of Downtown, which some call "Neartown," is an oasis packed full of interesting activities for all to enjoy, just another example of how Houston has it all, everywhere!

Allen Parkway: A never-ending stretch of Green!

With the Downtown Skyline as a backdrop, Houstonians easily flock to Allen Parkway as an oasis from the hustle and bustle of inner loop living, playing host to a multitude of parks, nature and art for all walks of life.

 

Buffalo Bayou Park

18-3600 Allen Parkway 

This premier greenbelt spans 124 acres, and winds from Shepherd Drive on the west to Bagby Street on the East End. It houses Eleanor Tinsley Park, and is the site of major Houston festivals and events, including the city’s Fourth of July Fireworks.  For more activities including the Dragon Boat Festival, Canoe Tours, and Bayou Bash 2010, visit their website at www.BuffaloBayou.org

Special Features to enjoy along the way:

Jim Mozola Memorial Disc Golf Course

Boat Launch (Eleanor Tinsley)

Children’s Playground

Buffalo Bayou Artpark (temporary public art work is displayed each spring) click here for more information.

Henry Moore Sculpture (south bank east of Taft Street)

Wortham Fountain

Police Memorial (off Memorial Drive)

Fonde Recreation Center (110 Sabine)

Amenities: Benches, Drinking Fountains, Exercise/Biking/Jogging Trails.

 

Spotts Park/Waugh Bat Bridge

Located between Allen Parkway, Memorial, Studemont and Waugh, this 16 acre park boasts an abundance of green space, trees and trails for all to enjoy.  Spotts Park has the winding sidewalks and leafy trees a good dog walk requires. But the real treat is the freedom to play some good, old-fashioned fetch. Beyond the sidewalks and picnic tables is an expanse of green that's rarely populated, so there’s more than enough room to throw the ball or stick; a key reason why it was named “Best Place To Walk Your Dog” by the Houston Press last year. Aside from all the trails and expansive green space for pets and people to stretch out, there is also a covered basketball court, a volleyball court and a playground for the kids!

The park’s fun doesn’t end at sundown, so keep your car parked in Spotts Park’s free parking lot.  Over 250,000 of Houston’s best-kept secrets have been quietly residing within the crevices of Waugh Drive Bridge for a number of years.  “The Waugh Bridge Bat Colony” consists of Mexican free-tailed bats that emerge nightly to stretch their wings and feed on area insects. In 2006 a bat observation deck was installed for your convenience. It’s quite a site for you and the rest of the family!  Visit their website for more information, including bat-watching etiquette.

 

Lee & Joe Jamail Skatepark

The Lee and Joe Jamail Skatepark, designed by the premiere skatepark firm Grindline, is the first world-class, in-ground skatepark in our region. This state-of-the-art, public 30,000 square-foot in-ground facility opened in June of 2008 vaulting Houston into the forefront of American venues for this fast-growing, dynamic sport. The park has areas for skaters of all levels, from the seasoned pro to the beginner. Skaters can work on their kick flip, ollie, fakie big spin...or simply learn to stay balanced!
Don't miss the displays of urban art located along Skater Alley, the winding walkway between Sabine Street and the skatepark entrance. The Houston Parks Board teamed up with the Orange Show Center for Visionary Art to coordinate the display of five large panels showcasing urban art created by local aerosol artists. 
The Lee and Joe Jamail Skatepark sits in the shadow of downtown Houston off of the Sabine Street Bridge in Eleanor Tinsley Park.  Admission is FREE and helmets are required.

Memorial Park - A National Treasure

Memorial Park is one of America’s largest urban park expanses, and is a well-loved getaway for Houstonians.  Located west of downtown, the park offers a variety of outdoor recreation opportunities.  Often referred to as one of the crown jewels in the Parks Department’s inventory, Memorial Park is rich in history as well as greenspace.

 

Much of the Park is located on the grounds of a World War I military facility known as Camp Logan.  The camp served as home and training facility to thousands of soldiers from 1917 to 1919.  In 1925, the City of Houston purchased the land, and would eventually become what is today Memorial Park; now a “memorial” to the soldiers who lost their lives serving in WWI. 

 

Memorial Park is located at 6501 Memorial Drive, near the I-10 & I-610 West Loop intersection.  Facilities for jogging, tennis, hiking, biking, picnicking, and wildlife- and people-watching are all readily available, and one of the city’s premiere golf courses is in Memorial Park.

 

If you dream of living in the loop, making that dream a reality has never been better.  There is great inventory available in the Houston, Texas Real Estate market!  But time is running out for home buyers to take advantage of the government tax credit, and it's not just for first-time buyers.  The credit has been expanded and extended until April 30th.  If you have any questions about real estate or the process of buying or selling real estate, please do not hesitate to contact us, we'll be happy to help!

 

Not ready to buy?  No problem, we have helped many people find high value rental properties as well - we are a full service real estate company!

 

 

 

 

 

 

 

 

The Puryear Team wants to be sure we are all aware of every aspect of recovery, even the shaky parts.  An educated buyer or seller is the best kind - they are the ones that will get the most out of this market.  What happens in Washington will affect the Houston, Texas Real Estate Market, and this article in Sunday's Chronicle makes us more aware than ever, we are not there yet.

---

Written by Alan Zibel - Associated Press

WASHINGTON — The recovery in the housing market is at risk of collapsing.

Home sales are sliding, prices are stalling, and foreclosures are rising. And mortgage rates are likely to go up after next week when the Federal Reserve ends a program that has driven them down.

The trend could threaten the broader economy, economists warn. People whose home equity is stagnant or shrinking are less likely to spend freely.

In a move that will help at least some homeowners avoid foreclosure, Bank of America unveiled a $3 billion plan Wednesday to help some of its most troubled borrowers. It said it will forgive up to 30  percent of their total mortgage balance. About 45,000 borrowers are expected to qualify, the bank said.

The plan is part of an agreement the bank reached in 2008 with state attorneys general involving high-risk loans made by Countrywide Financial Corp. before Bank of America acquired it.

It's the first time a lender has announced a broad plan to reduce the principal when home values drop well below the amount owed. Bank of America collects more Americans' home loan payments than any other company.

As the housing market sputters, manufacturing remains a source of strength for the economic recovery. Orders for big-ticket manufactured goods rose for a third straight month in February, bolstered by demand for commercial aircraft and machinery. The Commerce Department said Wednesday that orders for durable goods rose 0.5 percent last month.

Only a few months ago, the housing market had been showing signs of strength as it recovered from the most painful downturn in decades. Much of the improvement, though, came from government programs that held down mortgage rates and provided breaks for buyers.

The latest sour news came Wednesday, when the Commerce Department said sales of new homes fell last month to their lowest point on record. It was the fourth straight drop.

“While bad weather could well have suppressed the February result, it was dismal no matter how one tries to slice and dice it,” Joshua Shapiro, an economist at MFR, wrote.

To cope with falling demand, the industry has slashed the pace of construction. But thousands of foreclosed homes have been dumped on the market at bargain prices. That glut makes it hard for builders to compete.

On Wall Street, major stock indexes fell from their 2010 highs as the weakness in the housing market and rising European debt loads revived investors' pessimistic view of the economy.

February Brings Robust Sales Activity to Upper Segments of the Houston Real Estate Market

Sales of homes from $250K and above give pricing another boost

HOUSTON — (March 16, 2010) — The Houston real estate market completed the second month of 2010 showing continued vitality in home prices, thanks to robust sales activity in the upper housing segments.

Overall February sales of single-family homes across the greater Houston area slid 5.8 percent compared to February 2009, according to the latest monthly data compiled by the Houston Association of REALTORS® (HAR). When broken out by segment, however, sales of single-family homes priced from $250,000 and above recorded double-digit gains. Sales of all property types declined 7.4 percent in February on a year-over-year basis.

The average price of a single-family home appreciated for the fifth straight month, reaching $203,271, up 12.3 percent versus February 2009. At $147,000, the February single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 6.5 percent from one year earlier. That represents the tenth consecutive monthly increase in median price.

Foreclosure property sales reported in the Multiple Listing Service (MLS) fell by 18.7 percent in February compared to one year earlier. The median price of February foreclosure sales rose 7.5 percent to $86,000 on a year-over-year basis.

Sales of all property types in Houston for February totaled 3,843, down 4.6 percent compared to February 2009. Total dollar volume for properties sold during the month was $747 million versus $711 million one year earlier, representing a 5.1 percent increase.

“We are encouraged by steady homebuying activity in the higher-end single-family segment, which has strengthened Houston’s already enviable real estate pricing,” said Margie Dorrance, HAR chair and principal at Keller Williams Realty Metropolitan. “We expect to see consumer interest extend to the other segments as the spring homebuying season heats up.”

February Monthly Market Comparison
The month of February brought Houston’s overall housing market mixed results when all listing categories are compared to February of 2009. Total property sales declined while total dollar volume and both median and average single-family home sales prices rose on a year-over-year basis.

The number of available properties, or active listings, at the end of February rose 4.3 percent from February 2009 to 46,658. That represents 1,448 more active listings than one month earlier, in January 2010, and may reflect increased activity stemming from the federal homebuyer tax credit that expires on April 30.

February’s month-end pending sales—those listings expected to close within the next 30 days—totaled 3,168, down 1.8 percent from last year. The months inventory of single-family homes for February grew to 6.3 months compared to 5.9 months one year earlier, but remains better than the national months inventory of single-family homes of 7.8 months, reported by the National Association of REALTORS® (NAR).

 

CATEGORIES	FEBRUARY 2009	FEBRUARY 2010	PERCENT CHANGE
Total property sales	4,030	3,843	-4.6%
Total dollar volume	$710,696,861	$747,032,015	5.1%
Total active listings	44,747	46,658	4.3%
Total pending sales	3,227	3,168	-1.8%
Single-family home sales	3,450	3,251	-5.8%
Average single-family sales price	$180,966	$203,271	12.3%
Median single-family sales price	$138,000	$147,000	6.5%
Months inventory*	5.9	6.3	7.5%

* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.  

Single-Family Homes Update

February sales of all single-family homes in Houston totaled 3,251, down 5.8 percent from February 2009. This is the Houston market’s third consecutive monthly decline in sales. However, broken out by segment, sales of single-family homes priced between $250,000 and $500,000 rose 15.8 percent in February while sales of luxury homes—those priced from $500,000 to the millions—climbed 14.9 percent. By contrast, sales of homes in the below-$80,000 segment fell 27.5 percent and those priced between $80,000 and $150,000 were unchanged.

Heightened sales activity in the higher end of the housing market drove pricing up in February. At $147,000, the median sales price for single-family homes rose for the tenth consecutive month, up 6.5 percent from February 2009. The national single-family median price reported by NAR is $163,600, illustrating the continued higher value and lower cost of living that consumers enjoy in the Houston market. The average price of single-family homes in February was $203,271, an increase of 12.3 percent from one year earlier. That represents the fifth straight monthly jump in the average price.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In February 2010, existing home sales totaled 2,681, a 5.1 percent drop from February 2009. The median sales price rose 7.5 percent to $136,000 compared to last year. The average sales price of $189,998 increased 15.7 percent from its February 2009 level.

Townhouse/Condominium Update

The number of townhouses and condominiums that sold in February rose 8.9 percent compared to one year earlier. In the greater Houston area, 330 units were sold last month versus 303 properties in February 2009.

The median price of a townhouse/condominium edged up 2.5 percent year-over-year to $128,000. The average price was up 3.9 percent to $158,648 from February 2009 to February 2010.

Lease Property Update

Demand for single-family home rentals rose 9.9 percent in February compared to a year earlier. Year-over-year townhouse/condominium rentals shot up 20.1 percent.

Houston Real Estate Milestones in February

The average price of a single-family home appreciated for a fifth straight month, by 12.3 percent, to $203,271;

The median price of a single-family home rose for the tenth consecutive month, by 6.5 percent, to $147,000;

6.3 months inventory of single-family homes compares favorably to the national average of 7.8 months;

Townhouse/condominium sales rose 8.9 percent;

Total dollar volume grew 5.1 percent, reaching $747 million.

 

The computerized Multiple Listing Service of the Houston Association of Realtors® includes residential properties and new homes listed by 25,000 Realtors® throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. Residential home sales statistics as well as listing information for more than 50,000 properties may be found on the Internet at http://www.har.com.

The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All data is preliminary and subject to change. Monthly sales figures reported since

Congratulations are in order for Joe Lyssy!  With help from the Puryear Team, he recently sold this charming home in Deer Park!  We were happy to help, and here's what Joe had to say about us:

"Top notch - I couldn't ask for a better experience."

Thank you for those remarks, Joe!  We strive to give all of our clients the kind of efficient and knowledgeable service Joe speaks of.  Check out our testimonials page for more comments from our clients.  The Houston, TX real estate market is full of amazing Houston homes for sale from Downtown Lofts to Woodlands Mansions, from West University mid-rises to Clear Lake traditionals  - let Don Puryear, Houston Inner Loop Real Estate agent help you find what you are looking for!

National Chip and Dip Day is pays homage to one of our favorite snack-food combinations.  Chips and dip are definitely a staple on holidays and at parties.

According to HolidayInsights.com, National Chip and Dip Day is always March 23. The creator of the day is not known, but several calendar sites and personal Web sites mention the holiday.

To mark the day, mypunchbowl.com, suggests throwing a potluck-style chip-and-dip party. "The possibilities are endless for the various combinations of chips and dip you can enjoy, so use your imagination," the Web site pitches.

Cdkitchen.com and cheapfamilymeals.info include a variety of recipes dedicated to this holiday.

According to library.thinkquest.org, other holidays and observances paying homage to the snack food industry include National Snack Food Month, observed in February, and National Pretzel Month in October. National Cheeseball Day is coming up on April 17 and National Pretzel Day is April 26, so stock up!

We at the Puryear Team think nothing is better than chips and dip, especially during March Madness, so here are a few combinations you might want to try:

Tortilla Chips with Salsa, 7 Layer Dip or Queso

Potatoe Chips with Sour Cream and Onion Dip or Ranch Dip

Fritos with Chili or Bean Deap

Dorito's with Velveeta/Rotel Queso Dip

For those who want something new, here's a new dip recipe to try!  Let us know what you think:

Chicken Dip Recipe

(also called Buffalo Chicken Dip)

Meal Preparation Ingredients:
1.  2 cans (10oz.) chicken chunks
2.  2 pkg. cream cheese
3.  1 cup ranch dressing
4.  1/4 pepper sauce
5.  1 1/2 cup of cheddar cheese
Meal Preparation Directions:
1.   Place cream cheese in shallow casserole dish and microwave on medium power for 2-3 minutes.
2.   Stir in drained chicken, ranch dressing, pepper sauce and 1 cup of the cheese.
3.   Sprinkle top with remaining cheese.
4.   Microwave on high 2-4 minutes, until hot and bubbly.

Makes 6 cups – serves 20 to 24. Serve with crackers, tortilla chips or celery sticks.

Not only do we care about the providing the best service for the Houston Texas Real Estate Market, but we love to support the local art scene, from Gallery Style Open Houses to performing on stage!  Two of Don Puryear's team members will be opening shows in April!  Come support the local art scene and your hard working Real Estate team!

Don Puryear's "Service for Life!" newsletter is available.  If you are not apart of our normal email list to receive a PDF version of it, contact us, and we will be happy to add you to our list.  Don's newsletter is not only full of interesting tips about the Houston real estate market or how to go about improving the value of your home, or advice about certain aspects of being an active part of the real estate market; be it buying or selling, but he also has fun trivia, contests, local events, decorating or entertaining tips, and useful information about healthy living.  Check out our latest issue and see for yourself!

In an effort to reduce our use of paper, we are relying more on our email version and less on our standard mail version of the newsletter.  We will begin sending a paper version of the newsletter on alternating months, as opposed to every month.  Don Puryear is going a little greener each day, so this seems to be the logical starting point!

Interested in seeing past issues?  Go to "Our Newsletter" tab and click on the "Past Issues" tab.

If you are like many Americans in the unfortunate circumstance of having a mortgage without a job to support it, there might be relief in sight.  There is a new mortgage forbearance program being proposed by the Mortgage Bankers Association that would allow unemployed borrowers to remain in their homes while they seek new employment.  The loan servicers would reduce the borrower’s mortgage payment to an affordable amount for up to nine months, while the homeowner looks for a new job.  Loan servicers that participate would reduce monthly payments based on household income and would evaluate these borrowers based on a model the unemployed borrower would find a job within nine months at 75% of their previous salary.

Once re-employed, the borrower’s mortgage payments would be modified under the Obama Administration’s Home Affordable Modification Program (HAMP).  This program was designed to help stimulate a recovery in the United State’s shaky real estate market.  Even though the recovery is happening, we are far from being in any normal state of well-being.  If you feel you could benefit from learning more about Obama’s Home Affordable Refinance Program (HARP) or modified mortgage loans through HAMP, read our recent BLOG!  You can also visit their website.

Like all over the country, there are some of those in need of extra help in the Houston, TX real estate market.  If you don’t already know, the Puryear Team wants to spread the word about The Making Home Affordable Program (MHA).  This Program is part of the Obama Administration's broad strategy to get the economy and the housing market back on track.

The Making Home Affordable Program offers strong options for homeowners: (1) refinancing mortgage loans through the Home Affordable Refinance Program (HARP), (2) modifying first and second mortgage loans through the Home Affordable Modification Program (HAMP) and the Second Lien Modification Program (2MP) and (3) offering other alternatives to foreclosure through the Home Affordable Foreclosure Alternatives Program (HAFA).

Here are twenty common questions one might have when considering HARP and HAMP.

1. How do I apply for a refinance under HARP?
Call your mortgage lender, or any lender approved to do business with Fannie Mae or Freddie Mac, and ask for a Home Affordable Refinance application. The number is on your monthly mortgage bill or coupon book. Please be patient yet persistent. Your lender could be handling a large volume of inquiries about the program and it may take some time before they are ready to process your application. In the meantime, it will help your lender and speed up the application process if you gather some information and documents before you call. It will help your lender if you gather some information and documents before you call. Generally, you will need the following:

Information about the monthly gross (before tax) income of all the homeowners on your loan, including recent pay stubs if you receive them, or documentation of income you receive from other sources

Your most recent income tax return

Information about any junior lien mortgage on the house

Account balances and minimum monthly payments due on all of your credit cards

Account balances and monthly payments on all your other debts such as student loans and car loans

2. Is my servicer participating in MHA?
All servicers for loans owned or guaranteed by Fannie Mae and Freddie Mac are required to participate. Additional servicers are strongly encouraged to participate. The list of servicer participants will be updated at www.MakingHomeAffordable.com/contact_servicer.html.

3. I'm current on my mortgage. Will a refinance under the Home Affordable Refinance Program (HARP) help me?
Eligible homeowners who are current on their mortgages but have been unable to take advantage of today's lower interest rates because their homes have decreased in value, may now have the opportunity to refinance. Through a refinance under HARP, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that they own or that they guaranteed in mortgage backed securities.

4. How do I know if I am eligible for a refinance under HARP?
You may be eligible if:

You are the owner-occupant of a one- to four-unit home.

The loan on your property is owned or guaranteed by Fannie Mae or Freddie Mac.

At the time you apply, you are current on your mortgage payments

The amount you owe on your first lien mortgage does not exceed 125% of the current market value of your property.

You have a reasonable ability to pay the new mortgage payments.

The refinance improves the long term affordability or stability of your loan.

5. What are the interest rate and other terms of a refinance under HARP?
The rate will be based on market rates in effect at the time of the refinance and the homeowner will be subject to any associated points and fees quoted by your lender. Interest rates may vary across lenders and over time as market rates adjust. The refinanced loans must have no prepayment penalties or balloon payments.

6. How long will refinances under HARP be available?
The program expires on June 10, 2010. Your refinance under HARP must have a mortgage note date on or before that date.

7. I am delinquent on my mortgage. Will I qualify for a refinance under HARP?
No. Homeowners who are currently delinquent or have been more than 30 days overdue during the past 12 months generally will not qualify. Contact your servicer to see if a modification under the Home Affordable Modification Program is an option for you.

Home Affordable Modification Program (HAMP)

8. How do I know if I am eligible for a modification under the Home Affordable Modification Program (HAMP)?
To apply for a modification under HAMP, you must:

Be the owner-occupant of a one- to four-unit home.

Have an unpaid principal balance that is equal to or less than:

1 Unit: $729,750

2 Units: $934,200

3 Units: $1,129,250

4 Units: $1,403,400

Have a first lien mortgage that was originated on or before January 1, 2009.

Have a monthly mortgage payment (including taxes, insurance, and home owners association dues) greater than 31% of your monthly gross (pre-tax) income.

Have a mortgage payment that is not affordable due to a financial hardship that can be documented.

If you answered YES to all of these questions, you may be eligible for a modification under HAMP. Only your servicer will be able to tell you if you qualify.

9. What if I am facing foreclosure?
Participating servicers may not proceed with a foreclosure sale on an eligible loan until the homeowner has been evaluated for HAMP and, if eligible, a trial modification offer has been made. Participating servicers must use reasonable efforts to contact homeowners facing foreclosure to determine their eligibility, including in-person contacts at the servicer’s discretion. Foreclosure sales may not be conducted while the loan is being considered for a modification or during the trial period. Additionally, once a homeowner has entered into a trial period plan by submitting the first trial period payment, the servicer may not take the first legal action to initiate a new foreclosure.

10. Do I need to be behind on my mortgage payments to be eligible for a modification under HAMP?
No. Responsible homeowners who are struggling to remain current on their mortgage payments are eligible if they reasonably believe they are very likely to default on their mortgage soon (often referred to by loan servicers as "imminent default"). This might be because a homeowner has had (or will have) a significant increase in the mortgage payment (due to a payment adjustment or rate adjustment upwards); unemployment or some other significant reduction in income; or some other financial hardship that will make the mortgage unaffordable. If you are facing a similar situation, contact your servicer. You will be required to document your income and expenses and provide evidence of the hardship or change in your circumstances

11. Why does my loan servicer have to ask the lender or investor if they can do a loan modification?
If the organization that services your loan does not own it, your servicer may need to get permission from the owner or investor before they can change any of the terms of your loan. Generally, there is a contract between the servicer and the investor that states what kind of actions the servicer is allowed to take. Most of these contracts, usually called servicing agreements or pooling and servicing agreements (PSAs), give the servicer flexibility to make modification decisions as long as the modification provides a better financial outcome for the lender or investor than not modifying the loan.

12. What will my servicer do to determine if I qualify for HAMP?

Determine whether your loan meets the minimum eligibility criteria (i.e., owner- occupied; originated on or before January 1, 2009; unpaid principal balance equal to or less the loan limit for the number of units involved, mortgage payment greater than 31% of gross income; and financial hardship).

If your loan meets the minimum eligibility criteria, the servicer will ask about current income, assets and expenses, as well as any specific hardship circumstances to determine if you are unable to make your mortgage payment. Your servicer may initially accept verbal income and expense information; however, you will need to provide verifying documentation before a final modification is approved.

Determine if your monthly first lien mortgage payment is greater than 31% of your gross or pre-tax monthly income.

Apply a Net Present Value (NPV) test to determine whether the value of the loan to the investor will be greater if the loan is modified (factoring in the government's incentive payments). If the modified loan is not of greater value, the investor and servicer may still modify the loan. However, modification in such cases is not required. Please note: Your servicer may re-run the NPV test before the modification becomes official if they receive new information that could affect your NPV score.

If the modified loan is of greater value, the servicer must offer you a modification under HAMP, and, if you accept the offer, will put you on a trial modification (typically three months) at the new payment level.

If you successfully make all of the required trial payments during the trial period and the income and expense information you provided is determined to be accurate, your servicer will execute an official modification agreement.

You will be required to sign the modification agreement and other documents and attest that all of the information you provided to your servicer was true and accurate. Misrepresenting any information required for the Home Affordable Modification is a violation of Federal law and has serious legal consequences.

13. How much will a modification cost me?
Homeowners who qualify for a modification under HAMP will never be required to pay a modification fee or pay past-due late fees. If there are costs associated with the modification, such as payment of back taxes, your servicer will give you the option of adding them to the amount you owe on your mortgage or paying some or all of the expenses in advance. Paying these expenses in advance will reduce your new monthly payment and save interest costs over the life of your loan.

Beware of anyone asking you to pay a fee for this help…they are most likely scammers.

14. How do I apply for a modification under HAMP?
If you meet the general eligibility criteria for a modification under HAMP, you should gather the financial documentation that your servicer will need to determine if you qualify. Once you have this information, you should contact your servicer and ask to be considered for a modification under HAMP. The servicer's phone number and email address is on your monthly mortgage bill or coupon book. Please be patient yet persistent. Your servicer may be handling a large volume of inquiries about the program and it may take some time before your servicer is able to process your application.

If you would like to speak to a housing counselor, call 888-995-HOPE (4673). HUD-approved housing counselors can help you evaluate your income and expenses and understand your options, and apply to your servicer for HAMP. This counseling is FREE.

If you have already missed one or more mortgage payments and have not yet spoken to your servicer, call your servicer immediately.

15. What information and forms will I need in order to be considered for HAMP?
Recently, Treasury announced a more streamlined homeowner evaluation process. Now, in order to apply for a Home Affordable Modification, homeowners can submit proof of income (Be prepared to submit a copy of your two most recent pay stubs that show year-to-date earnings. If you are self-employed, you must provide your most recent quarterly or year-to-date profit/loss statement) plus the following two forms:

The MHA Request for Modification and Affidavit Form (RMA). This Form captures information on borrower income, expenses, subordinate liens on the property, and liquid assets. It includes a Hardship Affidavit, fraud notice, and information about the Trial Period Plan.

The Internal Revenue Service (IRS) Form 4506T-EZ (Short Form Request for Individual Tax Return Transcript). This form gives permission for your mortgage servicer to request a copy of the most recent tax return you have filed with the IRS. After you have completed the form, print two copies—one for your records and one to send to your mortgage servicer.

16. How long will modifications under HAMP be available?
HAMP expires on December 31, 2012. Your trial modification must be in place by that date.

17. My loan is scheduled for foreclosure soon. What should I do?
Contact your servicer immediately and ask to be considered for HAMP. Servicers participating in the HAMP program are not allowed to proceed with a foreclosure sale until you have been evaluated for a modification under HAMP, and, if eligible, offer you a trial modification. You may also contact a HUD-approved housing counselor for help by calling the Homeowner’s HOPETM Hotline at 888-995-HOPE (4673).

18. What other alternatives to foreclosure exist within the Making Home Affordable Program?
The Making Home Affordable Program will include additional foreclosure avoidance options through the Home Affordable Foreclosure Alternatives (HAFA) Program. While the HAFA Program becomes effective April 2010, servicers may participate immediately, or as soon as is practical. The primary options available through HAFA include Short Sale and Deed-in-Lieu of Foreclosure.

Beware of Foreclosure Rescue Scams - Help Is Free!

19. What are some of the warning signs of scams or fraud?

There should never be a fee for assistance with or information about the Making Home Affordable Program.

Beware of any person or organization that asks you to pay an upfront fee in exchange for a counseling service or modification of a delinquent loan. Do not pay – walk away!

Beware of anyone who says they can "save" your home if you sign or transfer over the deed to your house. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.

Never make your mortgage payments to anyone other than your mortgage company without their approval.

The Obama Administration has launched a coordinated effort across federal and state government and the private sector to target mortgage loan modification fraud and foreclosure rescue scams that threaten to hurt American homeowners and prevent them from getting the help they need during these challenging times.

20. What should I do if I’ve been scammed?

First, get the help you need to avoid foreclosure. Contact your servicer immediately.

Contact a HUD-approved housing counselor through the Homeowner’s HOPETM Hotline at 888-995-HOPE (4673).

To learn about foreclosure rescue scams, go to www.MakingHomeAffordable.gov/beware. To file a complaint or to get free information on fraud and other consumer issues, contact the Federal Trade Commission at www.ftc.gov/consumerprotection or 877-FTC-HELP (4357).

There are over 50 questions and answers pertaining to these government programs on their website to answer more specifics.  However, if you have any more questions, don't hesitate to contact a HUD-approved counselor.

It’s that time of year again, spring cleaning.  Instead of just tackling dust bunnies under your dresser, how about the bigger projects?  Perhaps you are thinking now is the time to participate in the Houston, Texas Real Estate market.  Why not?  With the tax credit creeping towards its April 30th deadline, buyers are ready to seriously shop.  A fresh home to add to the inventory is always a big selling feature.  A common seller pitfall is that your home is perfect and move-in ready, but you might want to think again.

Try to evaluate your home from a buyer’s perspective, and let’s face it, buyers are more sophisticated than ever in this market!  Their expectations are high in any price range.  They compare it all, space, price, location and condition, so make sure you follow these tips to assure your home gets on top of the buyers’ lists. 

Raise the appearance and condition bar on your property to its highest level on the inside and out.  Buyers will see multiple properties in the same price range – make sure the curb appeal and finishes stand out.

Purchase a one-year home warranty for the buyer that covers certain systems and appliances.  This will keep you on the same playing field with new or recent constructions.

Consider having a pre-inspection performed as a preventative measure.  Keeping those repair surprises will insure a secure buyer as opposed to a scared one.  And repairs done now will be cheaper than last minute ones.

Stage the property, either yourself or hire a professional stager.  This will help create a warm homey atmosphere, accentuated positive features, and neutral décor choices.

Light, bright, open airy spaces look bigger, so open the windows and blinds to let all the natural light in!

Windows should be clean on the inside and outside.

At night, make sure the house is well-lit.  Porch lights and well-lit rooms make all the difference.

Make obvious repairs to your home before you start accepting showings.  Any minor flaw connotes bigger ones down the road.

Fix dripping faucets and toilets, worn caulking, missing or loose tiles and knobs, or torn screens.

Repair and paint water spots and cracks on ceilings and walls.

Make sure the doorbell works.

Clean and repair exterior gutters and drain pipes.

Be ready with warranties, repair history for A/C and heating units and other appliances.

Thorough buyers (and good realtors) will perform a home inspection prior to the finalized purchase of the home, so make sure there are as little negatives on it as possible.  A long or poor inspection report can cause the buyer to back out of a contract.

Following these simple steps before putting your home on the market can improve your chances of getting your home sold quickly and for top dollar.  Having a reliable and honest REALTOR is always the best tool in your tool belt, and they can recommend or provide some services to make this process go smoothly.  Let Don Puryear and his team of agents and support staff, including a Certified Staging Expert, help!  We will be happy to answer any questions you may have, so contact us today!  

The Puryear Team is hosting a Gallery-Style Open House this Sunday, March 7^th from 2:00pm - 4:00pm, showcasing a River Oaks luxury townhome at 1417 West Clay, and featuring several pieces of original artwork by a local artist Andrés Rodríguez. 


Born in Cali, Colombia in 1975, Rodríguez graduated from the Universidad de Valle with a Bachelor’s degree in Architecture in 1998.  Two years later, he moved to Houston, where he paints and works as a school teacher. 

The artist’s mixed-media style on canvas incorporates watercolor, ink, crayon, marker, charcoal, airbrush and acrylic.  Rodriguez also uses layers of Plexiglas and acetate in white boxes, generating a three-dimensional sense of spatiality in his pieces.




Andrés Rodríguez reflects, reacts to and collects emotions and situations, and is inspired by poems, writings, images, storytelling and improvisation.  His latest series of paintings depict surreal human figures in ambiguous settings where line, color, and form come to life.  Andrés Rodrígues will be in attendance during the Open House at 1417 West Clay.

You can download a brochure featuring Andres' artwork here, or simply view his webpage here!

The information superhighway seems to be the highway we would rather travel.  Let’s face it, we would rather conduct our business online than stand in line.  But now, more than ever, crooks are going cyber as well, because of the recession.  About 1.7 million households fell victim to internet identity theft last year.  Although these numbers seem overwhelmingly against you, here are some tips to follow when you work or play on the internet.

Secure your computer:  Install and regularly update your computer’s security software, including its firewall, and antivirus and antispyware protection.  Keep your operating system up to date and use the latest version of your browser.

Email is the main culprit: Identity thieves love email, so filter for “spam” and avoid scam emails (rule of thumb: if it looks to go to be true, it probably is).  Do not respond to requests for personal information, click on links, or download files in emails sent by unknown contacts.  Never respond to a spammer, even if it is to say “leave me alone.”  Any response will let the crook know someone else is on the other end of your email address.

Create full-proof passwords: Come up with a password that is complicated and make them unique to every website.  This might be tough, but have a cheat sheet somewhere safe next to your computer so you can insure remembering them.  A good password should have at least eight characters or more.  Most websites allow you to have special characters, i.e. #, @, $.  If they only allow letters and numbers, be sure to use both and add an upper case letters.

Read Privacy and Security Policies: When a website or software has one of these, read them!  Understand how organizations collect and use your personal information before sharing it.

Be wary of online vendors: Don’t just consider the price when shopping.  Consider the company’s reputation.  Avoid vendors who pop up overnight; instead pick a retailer you would use if you were in the mall shopping for something, or who have are a top provider on the internet (i.e. Amazon.com).  Good rule: look for web addresses with “https” or the lock icon on the bottom right hand corner of your screen when making a transaction – these normally mean you are in a secured session.

Make sure your “Wifi” is secured at the highest level.

Social Networking “Friends”: When you friend someone, be certain you actually know them.  Even so, make sure you limit the amount of personal information you put on the site.  True friends already know that information!

Share the wealth:  Forward this to family and friends; we will all surf better if we feel safe!

Remember, it is our responsibility to ensure we are safe when surfing the net!  Stay vigilant and take these important safety precautions seriously.  But you can take it one step further.  To make sure your credit is indeed your credit, be sure you check you report at least once a year.  The FTC allows you to check you report for free, no gimmicks, no hidden contracts at www.AnnualCreditReport.com.