My Bellaire Blog

 Moved by the unfairness of the matter, I contacted Marc Carter, the City’s Aquatics director the following day to find out where this policy came from.  Well, if you were used to getting a rain check and coming back with it the next day to swim: those days are forever gone!  The new policy established this year affects both the Bellaire and Evergreen pools.  You can get a raincheck before 4:00PM and you have to use it to come back the same day.  After 4:00PM, you’re out of luck, although the pool doesn’t officially close until 8:00PM.  The explanation I received was that the Head Lifeguard needs to have the freedom to shut down the pool and send everyone home -including pool employees- if he thinks the weather won’t clear up fast.  Costwise, it is beneficial to just shut down and not worry about people wanting to redeem their rain checks 30 minutes after the storm has passed.  

Looking at it from this perspective, it sort of makes sense,  although it still feels unfair for the ones who show up after 4:00 and a few minutes before the storm.  At least give them a refund… or allow for a rain check that can be used the next day… 

My advice: triple-check the sky before you head to the pool and don’t worry about weather reports: ”scattered thunderstorms” does not give you an idea where they will fall!  Or better yet, make going to the pool a whole day affair to make sure you get your money’s worth!  What do you think?

Five year data from the OFHEO (Office of Federal Housing Enterprise Oversight) shows that houses in Naples FL lost 18.7% equity last year, but are still up 61% over the last five years. Riverside , CA lost 13.8% last year, but over five years they are still up a net of 71.5% Bottom line: national numbers get all this attention, but maybe things really are not that bleak. Or are they? 

Two Bear Stearns hedge fund managers surrendered to the FBI two weeks ago. Apparently they misled investors in two funds, when they knew the funds were on the brink of collapsing. Their sneaky actions  are only the icing on the cake. Has anyone really traced this back to the beginning? How did we get here? Why did lenders and investors start turning a blind eye? Could it have been the fact that Fannie Mae and Freddie Mac were mandated by HUD to have at least 47% of their portfolio in ‘low to moderate’ income loans in 2007? Just how do you accomplish that without laxing on credit and income requirements? How else were they supposed to lend to the average American that is overextended and undersaved? Hmmm…..I don’t hear any of that in the news. 

To date, more than 400 people have been charged in the mortgage fraud probe, and just 60 of those last Wednesday.  Mortgage fraud losses have totaled at least 1 billion so far. The FBI has labeled it’s investigation ‘Operation Malicious Mortgage’.  There are 42 mortgage fraud task forces in operation throughout the US.

Houston was named by Kiplinger’s Personal Finance to be one of the top places to live. We have reclaimed the status of the energy capital, adding aerospace, technology and medicine. Our cost of living is 12% below the national average, and we added 100,000 jobs in 2007. How could you not love Houston? We do! That is why we are here! 

Jennifer Hernandez

Vice President/Mortgage Consultant

Patriot Bank Mortgage

Office:    713-337-8400

Mobile:   713-446-7791

E-mail:    jennifer@patriotbankusa.com

I  really enjoyed the 4th of July Bellaire Centennial Parade and Festival.  The City outdid itself and we could tell that a LOTof work had been put into preparing this event.  The parade was the best ever, including the first 2 Smart cars to show up in  the parade and 7 DeLoreans among the many neat classical cars and wagons.  The Barracudas (Bellaire’s Swim Team) float won again first place this year and their theme was “Swimwear through the years” which was a very creative way to celebrate the different eras of the Centennial!  Three trolleys started off the parade and stayed afterwards to  give free 20 minutes guided tours of the City.

The Festival had lots of activities for the kids and many food choices thanks to all the sponsors.  It felt strange to be standing on the ground in front of the jamming band:  A year and a half ago, you would have been swimming in water, the spot of the long gone old pool!  So many changes in such a short time…

Today is the day to be proud of and thankful for our City and the new Town Center and Aquatic Park as well as to be proud of and thankful for our Nation.  Be safe, and Happy 4th! 

Let us hear from you:  What did you like the most about this 4th?  

The first one is 4911 Elm: 5,700 sq. ft. home on a 12,626 sq. ft. lot for $894,000.  The second one is 3 Azalea Trail: 3,648 sq. ft. home on a 8,970 sq ft lot for $580,000.

At $157 and $159 per square foot respectively, these are the best deals in Bellaire right now, compared to an average of $238 for all active properties as of 7/2/2008.  If you are interested in looking at these homes or finding out about our other areas list of good deals,  please contact us at 713-539-1006.

For properties built after 1980, 16 homes were sold during the month. As of July 2nd, 32 homes are option pending or pending, leaving 131 homes for sale between $535,000 and $2,899,000.  Plenty of choices for buyers, and the properties that sold in June did so at 96% of list price, for an average of $205 per square foot. 

For older homes, 11 sold in June at 93% of list price but stayed a mere 56 days on the market.  There are 8 homes waiting to close (pending) and 34 available for purchase.  They range between $230,000 and $830,000.  Demand is still high for premium location and premium size lots, so if you are considering selling your older property, give us a call at 713-539-1006 and we’ll arrange a no commission sale with interested buyers.

If you need additional information or have any questions on Bellaire Real Estate, you can email Lucie@kw.com or call us anytime at 713-539-1006!