We’ve just sold a lovely 2 story family home in Glenn Loch Farms ~ 19703 Woodberry Manor Drive. If you are interested in looking for or selling your home, please Contact Us.

We’ve just sold a beautiful custom home ~ 331 South Silvershire Circle in The Woodlands on the Palmer Deacon Golf Course, . Come and visit our site to see other properties available for purchase.  If you are interested in looking for or selling your home, please Contact Us.

We’ve just sold a single family home in Timber Lakes located at 3223 Kentwood Drive. Come and visit our site to see other properties in The Woodlands, Spring, and surrounding areas. If you are interested in looking for or selling your home, please Contact Us.

How Purchase Loans Are Made

A Step-By-Step Walkthrough, courtesy Jason Higham, Cherry Creek Mortgage

1. Loan Search - Buyers should seek the advice of an experienced mortgage professional, someone who will help determine which financing options best suit their needs today and in the future.

2. Loan Application - It’s crucial that consumers supply the lender with as much information as possible, as accurately as possible. All outstanding debts as well as assets and income should be included.

3. Documentation - Buyers must submit paperwork supporting the application as well. Information commonly sought includes pay stubs, two years’ tax returns, and account statements verifying the source of the down payment, funds to close and reserves.

4. Pre-approval - Getting pre-approved for a mortgage allows borrowers to know exactly how much house they can afford. Viewed as “cash buyers”, pre-approved borrowers have greater negotiating power as well.

5. The Hunt - The buyer begins shopping for a house. When the right one is found, the terms of the sale will be negotiated, including the price and potential terms of the loan being sought.

6. Appraisal- Lenders require an appraisal on all home sales. By knowing the true value of the home, the borrower is protected from overpaying.

7. Title Search - This is the time when any liens against the property are discovered. A lien may have been placed on a property to ensure payment of outstanding debts by the owner. All liens must be cleared before a transaction can be completed.

8. Termite Inspection - While most purchase loans do not require a formal inspection for termite and water damage, some loans (especially government loans) allow for the possibility. If problems are found, repairs may be necessary.

9. Processor’s Review - The mortgage professional packages all pertinent information and sends it to the lending underwriter, including any explanations that may be needed, such as reasons for derogatory credit.

10. Underwriter’s Review - Based on the information put together by both the loan executive and the processor, the underwriter makes the final decision regarding whether or not a loan is approved.

11. Mortgage Insurance - Many lenders require private mortgage insurance when borrowers put down less than 20 percent on a loan.

12. Approval, denial or counter offer - In order to approve a loan, the lender may ask the borrowers to put more money down to improve the debt-to-income ratio. The borrower may also need a bigger down payment if the property appraises for less than the purchase price.

13. Insurance - Lenders require fire and hazard insurance on the replacement value of the structure. Flood insurance will also be required if the property is located in a flood zone. In California, some lenders require earthquake insurance on condominiums.

14. Signing - During this step, final loan and closing documents are signed.

15. Funding - At this point, the lender sends a wire or check for the amount of the loan to the closing company.

16. Close of Transaction - Documents transferring title will now be recorded with the County Recorder.

17. Buyer Begins Making Mortgage Payments

Jason Higham is the Branch Manager at Cherry Creek Mortgage in The Woodlands/Spring and he can be reached by phone (832) 631-6212 or by email, jason@ccmclending.com.  

Jason Higham
Branch Manager- Woodlands/Spring
Cherry Creek Mortgage Company
Phone: (832) 631-6212
Fax: (713) 456-2550
jason@ccmclending.com
www.cherrycreektexas.com 

I read the article below on Yahoo this morning and wanted to share it with you! 

Courtesy Yahoo and written by Prashant Gopal – Fri Oct 23, 8:08 am ET

America’s strongest economies have one thing in common — home prices that never got too hot or too cold.

Home prices in metros such as San Antonio, Oklahoma City, Pittsburgh, Rochester, Little Rock, Ark., and Baton Rouge, La., remained steady through boom and bust. Although no metropolitan area entirely avoided the economic downturn, the most resilient metros were protected by a potent mix of recession-resistant jobs.

The upstate New York areas of Syracuse, Rochester, Albany, and Buffalo suffered from declining jobs in manufacturing, but got significant boosts from sizable health-care, education, and government sectors. Construction is booming in Baton Rouge, Louisiana’s capital, as firms take advantage of financing for post-Katrina hurricane recovery work and service-related companies expand to meet the needs of a growing population. Omaha and the state of Iowa have relatively strong insurance sectors.

Texas, the last state to enter recession, has been bolstered by its oil and gas industries — which have also helped Oklahoma, North Dakota, and Louisiana. Texas also has many other things going for it, including affordable home prices and relatively low wages, which attract corporations.

BusinessWeek.com used data and analysis from the Brookings Institution’s new MetroMonitor to come up with the nation’s 40 strongest economies. The MetroMonitor, which measures the nation’s health on a quarterly basis, ranks the top 100 metros based on job growth, unemployment, gross metropolitan product, and home prices.

A relative boom in Baton Rouge

“No place has been untouched by this recession. This is a change from previous recessions,” said Alan Berube, a senior fellow and research director of the Brookings Metropolitan Policy Program. “But there’s a big difference in losing one-tenth of a percentage and losing 15% of jobs.”

Baton Rouge, which was ranked No. 6, “grew jobs every month until August 2009 and in August it only lost nine-tenths of a percent, compared to 5.1% nationally,” said Lauren C. Scott, professor emeritus of economics at Louisiana State University.

Scott said $5.1 billion of construction projects have been announced or are under construction in the Baton Rouge metro, including a new plant for French chemical company SNF and the expansion of an ExxonMobil (NYSE:XOM - News) chemical plant.

“One nice thing after another thing happened that has countered what’s happening in the rest of the country,” Scott said.

Ernie Goss, an economist at Creighton University in Omaha, who studies much of the nation’s energy and farm belts, said the strong dollar early this year hurt farm exports. “But the dollar has now weakened significantly and that will be good for the farm sector and energy commodities,” Goss said. “I think 2010 is going to be much better than 2009. But we are still not going to have a lot of job gains.

A 22-year unemployment high in Texas

Although the metros in the ranking are strong by relative standards, their unemployment rates in many cases are now peaking because they entered the recession late. Texas, which had 5 metros in our top 10, including No. 1 San Antonio, is a good example.

The unemployment rate in Texas hit 8.2% in September, rising above 8% for the first time in 22 years. But that’s a very low unemployment rate, compared to the national rate of 9.8% or to Nevada’s 13.3% rate.

Texas is unlikely to face a prolonged downturn, said Terry Clower, an economist at the University of North Texas. The state’s affordable cost of living make it attractive to new residents and corporations, the largest of which tend to be based near Houston and Dallas.

“It’s perceived as a low-cost place to do business,” Clower said. “Because housing is affordable, the wage rates reflect that.”

Marisa Di Natale, a director at Moody’s Economy.com, said late arrivals to the recession will generally face mild downturns.

These metros “haven’t had a big erosion in housing wealth, which has kept consumer spending stronger than it would otherwise be,” Di Natale said.

Click here to see the 40 strongest metros in the U.S.

America’s Recession-Proof Cities to Retire In

Sponsored by

by Zack O’Malley Greenburg
Saturday, October 17, 2009provided by

These affordable metro areas offer sunny weather, jobs and rosy economic outlooks.

The Miami-Ft. Lauderdale, Fla., metro area–which includes Broward, Miami-Dade and Palm Beach counties–has gained a reputation as a mecca for retirees. The south Florida sun shines on scores of condos that jut like vertical cruise ships from the emerald-tinged shoreline. Near the most luxurious of these residences, golf courses dot the landscape, poolside sunbathers enjoy the company of other seniors and gourmet meals are available via room service.

Yet Miami isn’t quite the paradise it’s thought to be. Thanks in part to a battered real estate market and high housing costs, it ranks 29th on our list of America’s recession-proof places to retire, well behind top-ranked Atlanta. Our list, compiled by crunching seven sets of statistics from sunny days to median home price, reveals that Atlanta has many trends working in its favor–low cost of living, plenty of sun and housing that is affordable and projected to rise in value over the next five years.

“Atlanta is the financial and industrial center of the South,” says Eduardo Martinez, senior economist at Moody’s Economy.com. “With companies like Delta and Home Depot, it’s home to more and more international business.”

Four cities in the Lone Star State make the list. The Dallas-Ft. Worth metro area; Houston, just two spots behind it; Austin at No. 6; and San Antonio in the No. 10 spot. All three cities are benefiting from some positive Texan trends.

“In Texas, it was a relatively mild recession,” says Martinez. “All our projections are for quite a bit of growth. In terms of job creation, more people are moving out there, and families are getting bigger. The fundamentals for Texas are a lot stronger than those of other peer large states.”

Behind the Numbers

To form our list, we looked at the country’s 40 largest metropolitan statistical areas and applied seven metrics.

Americans are living longer–the average life span has been increasing for a decade, rising from an average 76.5 years in 1997 to 77.9 in 2007, according a Centers for Disease Control and Prevention report released in August. As a result, retirees should be looking for reasonably priced homes that will appreciate in value. With this in mind, we looked at current median home price and five-year projected home price via data from Moody’s Economy.com. We also included two important cost measures: median monthly housing expense from the Census Bureau and a cost of living index–for expenses unrelated to housing–from the Council for Community and Economic Research.

Since the U.S. economy is still in flux and some retirees may have to return the workforce in order to maintain their standard of living, we included two sets of employment statistics: median income for households over age 65, from the Census Bureau, and five-year job growth outlook from Moody’s Economy.com.

Finally, since every retiree should get some sunshine in their golden years, we included sunny day statistics from the National Oceanic and Atmospheric Administration (NOAA).

Back to the Big City

Given the increase in American life expectancy, places like Atlanta should appeal to retirees who may have to rejoin the workforce or take out a home equity loan in order to finance unforeseen health care costs. The city boasts strong job outlooks–Moody’s Economy.com predicts that Atlanta’s job market will grow by 13.5% over the next five years, while home prices will expand by 13.4%. Buying low is easy: Atlanta’s current median home price of $118,000 is seventh lowest among the 40 cities we considered.

Third-ranked Tampa-St. Pete also offers double-digit projected growth in both median price and employment. With a median monthly living cost of $975, 10th best among the country’s 40 largest metros and a current median home price of $133,000, Tampa is also very affordable.

Metros like Tampa and Atlanta are more attractive retirement destinations than they used to be. It used to be that retirees sought to move far away from the large urban areas they once worked in, hoping to ditch the city grind in favor of more bucolic pursuits. Lately, the trend has been working in the reverse.

“Empty nesters are definitely taking advantage of the cheap condo prices in big cities,” says Ken Shuman, spokesman for real estate site Trulia.com. Indeed, both Tampa and Atlanta offer a median home price below $140,000, and there are many downtown condo bargains among them. “Baby boomers never had that city-living experience. It’s a great opportunity for them to have that chance as they get older and enjoy the things cities have to offer. It’s definitely a trend that we’re seeing.”

Shuman notes that retirees are interested in the ease of downtown living–being able to walk to a nice restaurant, having the chance to go out to see a play without having to get into a car and enjoying full-service life in doorman buildings.

In today’s economy, city living also makes more financial sense for those looking to downsize from sprawling suburban mansions–especially for those who plan on working for a few more years.

“If you’re approaching 50 and the kids have moved out, you don’t need the square footage,” says Martinez. “In terms of saving money, there’s a benefit there. If you live in the city and your job is there, you don’t need to keep up on car payments anymore.”

Top 5 Recession-Proof Cities to Retire In

© Gennady Stetsenko /iStockphoto

1. Atlanta, Ga.
(Atlanta-Sandy Springs-Marietta, Ga., metro area)

Sunny Days: 17 of 40
Income 65 And Over: 17 of 40
Median Home Price: 7 of 40
Projected Home Price Growth ‘09-’14: 17 of 40
Projected Job Growth ‘09-’14: 5 of 40
Cost of Living: 11 of 40
Median Monthly Housing Cost: 23 of 40

© Andrew Dean / iStockphoto

2. Dallas, Texas
(Dallas-Fort Worth-Arlington, Texas, metro area)

Sunny Days: 16 of 40
Income 65 And Over: 10 of 40
Median Home Price: 17 of 40
Projected Home Price Growth ‘09-’14: 35 of 40
Projected Job Growth ‘09-’14: 3 of 40
Cost of Living: 6 of 40
Median Monthly Housing Cost: 16 of 40

© Marek Gahura/ iStockphoto

3. Tampa, Fla.
(Tampa-St. Petersburg-Clearwater, Fl., metro area)

Sunny Days: 9 of 40
Income 65 And Over: 35 of 40
Median Home Price: 10 of 40
Projected Home Price Growth ‘09-’14: 22 of 40
Projected Job Growth ‘09-’14: 11 of 40
Cost of Living: 10 of 40
Median Monthly Housing Cost: 10 of 40

© VanHart / Shutterstock

4. Houston, Texas
(Houston-Sugar Land-Baytown, Texas, metro area)

Sunny Days: 21 of 40
Income 65 And Over: 18 of 40
Median Home Price: 15 of 40
Projected Home Price Growth ‘09-’14: 33 of 40
Projected Job Growth ‘09-’14: 4 of 40
Cost of Living: 4 of 40
Median Monthly Housing Cost: 13 of 40

© David Sucsy / iStockphoto

5. St. Louis, Mo. (tie)
(St. Louis, Mo.-Ill.)

Sunny Days: 26 of 40
Income 65 And Over: 27 of 40
Median Home Price: 6 of 40
Projected Home Price Growth ‘09-’14: 29 of 40
Projected Job Growth ‘09-’14: 17 of 40
Cost of Living: 3 of 40
Median Monthly Housing Cost: 4 of 40

© Mike Liu / iStockphoto

5. Austin, Texas (tie)
(Austin-Round Rock, Texas, metro area)

Sunny Days: 17 of 40
Income 65 And Over: 4 of 40
Median Home Price: 24 of 40
Projected Home Price Growth ‘09-’14: 34 of 40
Projected Job Growth ‘09-’14: 1 of 40
Cost of Living: 14 of 40
Median Monthly Housing Cost: 18 of 40

Click here for the full list of Top 10 America’s Recession-Proof Cities to Retire In

Copyrighted, Forbes.com. All rights reserved.

On October 11, 2009 at 2:00 PM, you are invited to an Open House at 166 North Berryline Circle in The Woodlands.

This property is a custom 5 bedroom home featuring a pool and spa, centrally located in the heart of The Woodlands adjacent to Northshore Park and within walking distance to Market Street. 

If you are looking for a great family home at an incredibly reduced price, don’t miss this opportunity! For a preview of this property,  visit our site at YWTTEAM.com - listings.

For more information or a private showing, please do not hesitate to Contact Us.

On October 11, 2009 at 2:00 PM, you are invited to an Open House at 331 South Silvershire Circle in The Woodlands.

Beautifully sited on the Palmer Deacon golf course, this custom Hallmark home has wonderful views of the course throughout and features 2 bedrooms down! 5 bedrooms, 3 full and 2 half baths, open floor plan, both formals, large kitchen with breakfast area, game room and 2 guest bedrooms up each, with private access to the 2nd story balcony, and rich wood paneled study located off of the master suite.  

For a preview of this property, check out our site at YWTTEAM.com - listings. Please do not hesitate to Contact Us if you have any questions or wish to schedule a private showing.

On October 24, 2009 at 2:00 PM, you are invited to an Open House at 19703 Woodberry Manor Drive in Gleannloch Farms, a Golf Course community in Spring, Texas.

This 5 bedroom David Weekly home features both formals, custom faux finishes, an abundance of storage and is situated on an over-sized lot offering privacy and extensive landscaping.

For a preview of this property, check out our site at YWTTEAM.com, listings. Please do not hesitate to Contact Us if you have any questions or wish to schedule a private showing.

The 9th Annual Market Street Fine Arts Festival is tomorrow, Saturday, October 3rd at 10am to 7pm. 

Professional and amateur artists will have items on display and for sale including sculptures, photography, metal-works, paintings, media art, and more!

Live music, demonstrations and art activities, and free admission makes this the perfect outing for the entire family!