DEAL OR NO DEAL? It appears a deal has indeed been struck, as Congressional leaders and the Bush administration announced they had come to an agreement to spend up to $700 Billion on the historic Bailout Plan.
But first - a look back at the past week, leading up to the weekend announcements.
There were several major developments, beginning with the announcement that Japan's Mitsubishi Financial Bank will purchase 10% to 20% of Morgan Stanley, saving the company from the same bankruptcy fate as Lehman Brothers. On Wednesday, the financial markets received another vote of confidence with word that billionaire investor Warren Buffett's Berkshire Hathaway is investing $5 Billion into Goldman Sachs. But then on Thursday, Washington Mutual was seized by the federal government, and its assets were sold to JP Morgan Chase for $1.9 Billion. The fall of Washington Mutual represents the biggest US bank failure in history.
But perhaps the biggest news of the week began on Tuesday, as Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson began their testimony in front of the Senate Banking Committee on the $700 Billion rescue plan proposed by President Bush.
The plan calls for taking illiquid mortgage backed securities off the hands of lending institutions, and through the week several elements of the plan were intensely debated, including the amount of the plan, the government's role, the absence of oversight, and limits on pay for executives of bailed-out financial institutions. And while full details are still pending, it appears that an agreement has been reached, with the intent to revive our financial system and avoid negative far reaching effects to the rest of our economy.
Despite all the historic events of the week, home loan rates ended the week only around .125 percent worse than where they began. I will continue to monitor this situation closely in the days and weeks ahead, and keep you informed.
IN THE MIDST OF ALL THE HISTORIC HAPPENINGS...DON'T FORGET THAT FLU SEASON IS STEADILY APPROACHING. CHECK OUT THIS WEEK'S MORTGAGE MARKET VIEW FOR PRACTICAL TIPS YOU CAN USE TO AVOID COLDS AND THE FLU!
Forecast for the Week
Besides the details that will be coming on the financial rescue plan, several important reports bookend this week. We begin the week with the Fed's favorite gauge of inflation as the Core PCE (Personal Consumption Expenditure) data will be released on Monday.
Then, definitely stay tuned for the Department of Labor's big Jobs Report scheduled for Friday, which will show the number of jobs lost or gained in September.
The Department of Labor averages their numbers, and part of each month's report includes "revisions" to the several prior months' numbers.
A positive report could be good news for Stocks, but bad news for Bonds and home loan rates.
It will be important to see how much of an impact the recent turmoil has had on the job market.
Remember when Bond prices move higher, home loan rates move lower...and vice versa.
Bonds and home loan rates have not worsened substantially, despite the uncertainty surrounding the Bailout Plan and the financial markets in general. I will be watching closely to see how Bonds and home loan rates respond to all the historic news that will be coming in the week ahead.
Fannie Mae 5.5%% Mortgage Bond (Friday Sep 26, 2008)
Autumn Ushers in the Good and the Not So Pleasant...
The Mortgage Market View...
Fall is in full swing. And that means it's time to celebrate the things we love, like kids returning to school, football season, baseball playoffs, and even the beautiful colors of autumn. But it also means the return of something less fun... the dreaded cold and flu season. And the cost of the season is nothing to sneeze at! Did you know that Americans spend approximately $4 Billion on over the counter cold and flu remedies? That's not even factoring in how much time and productivity is lost on sick-time in the workplace, or co-pays for doctor visits and prescriptions.
To Help Stay Healthy, Start Following These Quick Tips Now:Determine how susceptible you are. Start by asking yourself a few simple questions: Were you ill several times last year? Do you frequently feel fatigued? Do you sleep less than seven hours per night? If you answer yes to several of those questions, it may be a good idea to consult your doctor for a pre-flu season check-up.
Build up your immune system. Take the time now to catch up on sleep and get a flu shot. In addition, make sure you're getting enough Vitamin C and Zinc. Taking these supplements has been shown to markedly reduce cold symptoms.
Wash your hands frequently. Hand-to-mouth contact is the most common way that people get sick, so keep those hands clean and encourage your family to do the same. You can also carry a hand sanitizer with you to keep your hands germ free when you can't wash.
Wash your nose? Here's a little known--yet effective--tip for combating the cold and flu season. By using a simple saline nasal wash or nasal irrigation, you can actually help rid yourself of colds and allergies. Although it doesn't look pretty in action, it's effective in washing away germs and particulates, as well as healing and protecting your nasal passages. The fact is, when dry winter air makes the tissues inside your sinuses dry and cracked, germs have a perfect place to live and breed, which makes you sick more easily. But a saline nasal wash, available at most drugstores, can lubricate, protect and clean those nasal tissues to help keep healthy. And it may help reduce snoring!
By taking a little time to protect yourself from illness, you can help make sure that you are able to enjoy the things that are important to you... like spending time with family and friends, working hard at your career, and remaining healthy and active during the fall and winter seasons!
Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.
****The material contained in this newsletter has been prepared by an independent third-party provider. The content is provided for use by real estate, financial services and other professionals only and is not intended for consumer distribution. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is not without errors.
As your trusted advisor, I am sending you the Castle Financial newsletter because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.
In the unlikely event that you no longer wish to receive these valuable market updates, please email: SLRIVERA@METLIFEHOMELOANS.COM
The Mortgage Market Guide, LLC is the copyright owner or licensee of the content and/or information in this letter unless otherwise indicated.
MetLife Home Loans is a division of MetLife Bank, N.A.****
Monday, September 29, 2008
Tuesday, September 23, 2008
Keller man gets national honor for service at children's grief camp
Keller man gets national honor for service at children's grief camp
By ALEX BRANCHabranch@star-telegram.com
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Denis Cranford of Keller volunteered at Camp El Tesoro de la Vida, a children’s grief camp, 16 years ago, and the first few days weren’t perfect. It was scorching hot, and he was in charge of third-grade boys.
One day, the boys asked whether any of his loved ones had died.
No, Cranford said, but one day they probably would.
If he had any second thoughts about volunteering again, what the boys did next ended them.
"They huddled around a camp T-shirt and wrote their names and phone numbers on it," Cranford said. "So one day, when I lost somebody, I could call them and not have to go through the experience alone."
Cranford hasn’t missed a camp since. This week, he received the President’s Volunteer Service Award for his work at the weeklong camp, held at Camp El Tesoro on the Brazos River in Granbury.
President Bush planned to present the award to Cranford during a stop in Fort Worth, but Hurricane Ike interrupted his plans. So first lady Laura Bush presented it to him Tuesday.
"The whole thing has been quite a surprise," said Cranford, 46.
A few years after he first volunteered, Cranford became volunteer director of the grief camp, which is run by the Camp Fire USA First Texas Council. Every August, it provides activities and specialized programs for about 100 children ages 6 to 16 who have lost family members, usually a parent or sibling.
As director, Cranford personally recruited more than 60 volunteers, raised money and mentored more than 1,000 children, said Angela Downes, Camp Fire’s vice president of marketing.
Planning the camp is a year-round project. Cranford helps do it around his full-time job as a vice president and performance manager at JP Morgan Chase.
"There is Professional Denis who wears a suit and tie," said Sheri Willis, the camp’s lead therapist for 11 years. "And there is Camp Denis who clowns around with the kids and challenges the older boys to see who can eat the most Salisbury steaks.
"The camp is very near and dear to his heart."
Toni Hooten, director of the campsite, which hosts activities year-round, said, "The kids love him. He strikes the perfect balance between work and play. He knows when to have fun and when to be serious with them."
This year’s camp ended a few weeks ago. Cranford is already setting up planning meetings for next year’s.
The kids make the time and energy worth it, he said.
"One of my favorite things is that once they enter camp, social status is left behind," he said. "The kids’ experiences bind them, and they share things they don’t share at school. They are all buddies.
"That’s what I think is amazing every time."
Camp El Tesoro Camp El Tesoro is owned and operated by the Camp Fire USA First Texas Council. CampElTesoro.org or 817-831-2111.
ALEX BRANCH, 817-390-7689
By ALEX BRANCHabranch@star-telegram.com
Related Content
U.S. NAVY/D. KEITH SIMMONS
First lady Laura Bush presents the President’s Volunteer Service Award to Denis Cranford. U.S. NAVY/D. KEITH SIMMONS Most-read stories
Local residents are giving much more to McCain than to Obama
Miles Austin might be receiver the Dallas Cowboys were looking for
Chesapeake Energy is scaling back
Firefighter, a former Cowboy, hospitalized
QB Jerrod Johnson’s injury more bad news for Texas A&M
Most e-mailed stories
Chesapeake Energy is scaling back
Man killed in home invasion may have been watching couple
Vinyl records making a comeback
GOLDBERG: Wall Street fat cats aren't at fault this time
Former Arlington mayor pro tem may run for county commissioner
Denis Cranford of Keller volunteered at Camp El Tesoro de la Vida, a children’s grief camp, 16 years ago, and the first few days weren’t perfect. It was scorching hot, and he was in charge of third-grade boys.
One day, the boys asked whether any of his loved ones had died.
No, Cranford said, but one day they probably would.
If he had any second thoughts about volunteering again, what the boys did next ended them.
"They huddled around a camp T-shirt and wrote their names and phone numbers on it," Cranford said. "So one day, when I lost somebody, I could call them and not have to go through the experience alone."
Cranford hasn’t missed a camp since. This week, he received the President’s Volunteer Service Award for his work at the weeklong camp, held at Camp El Tesoro on the Brazos River in Granbury.
President Bush planned to present the award to Cranford during a stop in Fort Worth, but Hurricane Ike interrupted his plans. So first lady Laura Bush presented it to him Tuesday.
"The whole thing has been quite a surprise," said Cranford, 46.
A few years after he first volunteered, Cranford became volunteer director of the grief camp, which is run by the Camp Fire USA First Texas Council. Every August, it provides activities and specialized programs for about 100 children ages 6 to 16 who have lost family members, usually a parent or sibling.
As director, Cranford personally recruited more than 60 volunteers, raised money and mentored more than 1,000 children, said Angela Downes, Camp Fire’s vice president of marketing.
Planning the camp is a year-round project. Cranford helps do it around his full-time job as a vice president and performance manager at JP Morgan Chase.
"There is Professional Denis who wears a suit and tie," said Sheri Willis, the camp’s lead therapist for 11 years. "And there is Camp Denis who clowns around with the kids and challenges the older boys to see who can eat the most Salisbury steaks.
"The camp is very near and dear to his heart."
Toni Hooten, director of the campsite, which hosts activities year-round, said, "The kids love him. He strikes the perfect balance between work and play. He knows when to have fun and when to be serious with them."
This year’s camp ended a few weeks ago. Cranford is already setting up planning meetings for next year’s.
The kids make the time and energy worth it, he said.
"One of my favorite things is that once they enter camp, social status is left behind," he said. "The kids’ experiences bind them, and they share things they don’t share at school. They are all buddies.
"That’s what I think is amazing every time."
Camp El Tesoro Camp El Tesoro is owned and operated by the Camp Fire USA First Texas Council. CampElTesoro.org or 817-831-2111.
ALEX BRANCH, 817-390-7689
Monday, September 22, 2008
Keller ISD - Mock Election
Dear Keller ISD Families and Friends,
Welcome to Keller ISD E-News for September 19, 2008!
DISTRICT NEWS
STUDENTS TO PARTICIPATE IN A MOCK ELECTION
With the excitement of the 2008 Presidential Election building, the Education Center is facilitating a district wide mock election for KISD students. Kindergarten through 12th grade students will get a chance to participate in a history-making election via the internet through the Youth Leadership Initiative. Students will complete voter registration cards in their social studies classrooms in the coming weeks and the mock election will run October 27-30th. Internet voting will take place at a designated polling location on each campus. After the results have been tabulated, they will be posted on the KISD homepage for the parents and community to view. Stay tuned!
KELLER EATS!
It's the annual tailgate party at the First United Methodist Church of Keller. FUMC is hosting two tailgate events this year. The first event will be Friday, September 19th for the Keller High School Homecoming and the second event is Friday, October 10th for the Fossil Ridge vs. Central High School game. Both events will happen from 5:00 pm - 7:00 pm and will feature live music and food from local restaurant vendors for $4.00. Fifty cents of each meal sold will be donated to Habitat for Humanity.
"I know that hundreds of families coming to the game will enjoy some fantastic pre-game meals and snacks, myself included!" said Bob DeJonge, Athletic Director of Keller ISD.
All football fans are invited to stop by KELLER EATS! Free Parking is located just north of the football stadium at the First United Methodist Church of Keller, which is located at 1025 Johnson Road.
DESTINATION IMAGINATION PARENT INFORMATION MEETING
Destination ImagiNation is a place where kids take what they know and what they are good at and learn to apply it to solve challenges, working together and cooperatively with a team and pushing the limits of imagination to best not their competition, but themselves. Destination ImagiNation is a community- based, school-friendly program that builds participants' creativity, problem solving, and teamwork in enjoyable and meaningful ways.
Please attend the Destination ImagiNation® Information Meeting on Thursday, September 25 at 7:00 pm at the KISD Ed Center inTexas Rooms II & III.
Check out the Destination ImagiNation website: www.IDODI.org 2008 BOND ELECTION
On Aug. 26, 2008, the Keller ISD Board of Trustees officially called for a bond election for Tuesday, Nov. 4. The bond package, which totals a little less than $168 million, will include two separate propositions.
Proposition One is dedicated to creating new facilities, improving existing assets and other infrastructure to address the school district's growth, security and safety concerns. It calls for the construction of an intermediate-middle school hybrid campus; an elementary campus; the purchase of land for a future elementary campus; the renovation of a current complex to create a multipurpose instructional facility, enabling the district to offer full-day kindgergarten; addition to the KISD Natatorium; and 10 new tennis courts.
Proposition Two will provide funding for a second district multipurpose athletic stadium to accommodate the addition of a fourth high school varsity program. The new stadium would be located on the site of Timber Creek High School which opens in the fall of 2009 and will begin varsity competition the following school year.
For more information, please visit our Web site at www.kellerisd.net. To ask questions relating to the upcoming bond election, please email BondQuestions@kellerisd.net.
FOOTBALL PLAY-BY-PLAY TO BE BROADCAST ONLINE
We are excited to announce that Champion Sports Radio is going to broadcast several of our football games this year. Most of the broadcasts will be via the internet. This means that anyone with a computer can listen live or even access a game from the archives anytime they choose. This will be great for local fans who can't attend the game and even better for friends and family who live out of town.
Go to www.championsportsradio.com. Select archives and select the game you want to listen to.
CAMPUS NEWS
PINWHEELS FOR PEACE
In observance of International Peace Day, Willis Lane Elementary School will be joining thousands of other children around the world in voicing their support of World Peace through a project called "Pinwheels For Peace." Kindergarten through 4th grade students designed and created the pinwheels based on their feelings about peace, tolerance and living in harmony. The pinwheels will be "planted" outside of Willis Lane in the courtyard on Monday, September 22 at 8:15 am. A special thanks to Home Depot for donating 600 paint sticks for the construction of the pinwheels.
CENTRAL CHARGER BRIGADE MARCH-A- THON and GARAGE SALE
The annual Central Charger Brigade March-A-Thon will be held on Saturday, September 27 from 8:00 am - 1:00 pm.
The March-a-Thon route will be as follows:
Central High School, 8:30 - 9:00am
Friendship Elementary, 9:15 - 9:45am
Jets Pizza Parking Lot, 10:15 - 10:45am
Park Glen Elementary, 11:15 - 11:45am
Hillwood Middle School, 12:15 - 12:45pm
During the March-A-Thon, Central High School is also hosting a garage sale in the parking lot. The community is welcomed to stop by for some great deals!
STUDENTS TAKE PART IN BREAST CANCER AWARENESS
On Friday, October 3, Central and Keller High Schools will put aside their rivalry and come together to raise awareness and funds for breast cancer research. During half time of the district game to be held at the Keller ISD Athletic Complex, a representative from Susan G. Komen for the Cure will accept a check from the Central and Keller High cheerleaders. Prior to the game, cheerleaders from both schools will be selling pink t-shirts and other pink items to raise money and to "Pink Out" the stands for the game. Pep rallies will be held at both schools at the end of the day on Friday to get pumped up for the game and for this great cause!
BLUEBONNET ELEMENTARY SCHOOL WINS PRESTIGIOUS AWARD
We are excited to announce that Bluebonnet Elementary School has been selected to the Texas Business and Education Coalition Honor Roll. This award recognizes schools that have demonstrated three years of consistent, high performance in all subjects compared to other schools serving similar student populations. Of the over 8,000 Texas public schools, less than 4% are selected to receive this prestigious award. Bluebonnet will be honored at an TBEC awards banquet on November 10th in San Antonio.
Congratulations to Principal, Ken McGuire, and the outstanding Bluebonnet Elementary staff.
UPCOMING EVENTS
2ND ANNUAL GOLF TOURNAMENT BENEFITING THE KELLER HIGH SCHOOL MEN'S SOCCER PROGRAM
Keller High School is proud to present the 2nd Annual Four Man Best Ball Golf Tournament benefiting the Keller High School Men's Soccer Program. This year's goal is to raise $5,000.
The Golf Tournament will be held at Sky Creek Ranch on Sunday, September 21, 2008. The cost is $80/person. Registration begins at noon with a 1:30pm Shotgun Start.
For more information, please contact Rick Hinojosa at 817-431-8325 or enrique.hinojosa@baesystems.com.
LONE STAR ELEMENTARY SCHOOL BOOK FAIR
Lone Star Elementary School is having their first book fair of the year. Book lovers of all ages are welcome to visit the Lone Star Library and buy some great books!
The book fair will be held September Monday, Sept. 22 - Friday, Sept. 26 and is open to everyone. Family night is Thursday, September 25, from 3:30 pm - 7:00 pm. The book fair will be open: Monday-Thursday, 7:40 am - 3:30 pm and Friday, 7:40 am - 11:00 am.
FLORENCE ELEMENTARY SCHOOL SCIENCE EXPLORATION FAIR
Florence Elementary School is hosting a Science Exploration Fair Monday, September 22 - Friday, September 26. Come and support the FES Science Lab. They will have educational products with items ranging from prisms to science kits and also live animals in their habitats available for purchase (Please note that a parent must be present in order to purchase animals).
The science fair will be held in the library from 8:00 am - 3:30 pm daily. There will be a special evening session on Monday, September 22, from 6:00 pm - 8:00 pm. All FES parents, students and community members are welcome to attend!
BOARD OF TRUSTEES MEETING SEPT. 22
The Keller ISD Board of Trustees will convene for a regular meeting on Monday, September 22. The meeting will begin at 6:30 pm in the Rock Gym.
KELLER ISD GOLD CLASSIC GOLF TOURNAMENT
The Keller ISD Gold Classic marks its 10th year of celebrating excellence in student athletics, recognizing the outstanding accomplishments of players and coaches from Central, Fossil Ridge and Keller high schools. During the past nine years, the Classic has provided $72,000 in scholarships and equipment for Keller ISD Athletes. This year's tournament will be held on Monday, October 20 at Sky Creek Ranch Golf Course. The deadline to register for this event is Friday, October 10. Applications are available on the KISD Web site, under Athletics. Please contact the Athletics Department at 817-744- 1066 for more information.
BROWN BAG LUNCH
Keller Middle School PTA will host a brown bag lunch with Keller ISD Superintendent James R. Veitenheimer, giving parents and community members the chance to discuss district events and hot topics. Guests are invited to ask questions and share information. The Brown Bag Lunch will be held at Keller Middle School on Thursday, October 16th at noon.
KISD PARENT UNIVERSITY
A joint effort between Keller ISD and the Parenting Center, KISD Parent University is a new program designed to bring ideas, insight, and strategies to parents in the Keller ISD community. Parenting University courses are held once every month, are free and open to the public.
The next session is on Bullying and will be held on Thursday, October 16 from 6:30 pm - 8:30 pm at the Education Center in Texas Room II (350 Keller Parkway). Interested parents can RSVP to 817-744- 6011.
Please encourage your friends to visit the Keller ISD web site, www.kellerisd.net, to sign up for the e-news group. We're looking forward to sharing our students' successes with you in 2008-09.
Sincerely,
The Keller ISD Department of Communications
e-news@kellerisd.net
Welcome to Keller ISD E-News for September 19, 2008!
DISTRICT NEWS
STUDENTS TO PARTICIPATE IN A MOCK ELECTION
With the excitement of the 2008 Presidential Election building, the Education Center is facilitating a district wide mock election for KISD students. Kindergarten through 12th grade students will get a chance to participate in a history-making election via the internet through the Youth Leadership Initiative. Students will complete voter registration cards in their social studies classrooms in the coming weeks and the mock election will run October 27-30th. Internet voting will take place at a designated polling location on each campus. After the results have been tabulated, they will be posted on the KISD homepage for the parents and community to view. Stay tuned!
KELLER EATS!
It's the annual tailgate party at the First United Methodist Church of Keller. FUMC is hosting two tailgate events this year. The first event will be Friday, September 19th for the Keller High School Homecoming and the second event is Friday, October 10th for the Fossil Ridge vs. Central High School game. Both events will happen from 5:00 pm - 7:00 pm and will feature live music and food from local restaurant vendors for $4.00. Fifty cents of each meal sold will be donated to Habitat for Humanity.
"I know that hundreds of families coming to the game will enjoy some fantastic pre-game meals and snacks, myself included!" said Bob DeJonge, Athletic Director of Keller ISD.
All football fans are invited to stop by KELLER EATS! Free Parking is located just north of the football stadium at the First United Methodist Church of Keller, which is located at 1025 Johnson Road.
DESTINATION IMAGINATION PARENT INFORMATION MEETING
Destination ImagiNation is a place where kids take what they know and what they are good at and learn to apply it to solve challenges, working together and cooperatively with a team and pushing the limits of imagination to best not their competition, but themselves. Destination ImagiNation is a community- based, school-friendly program that builds participants' creativity, problem solving, and teamwork in enjoyable and meaningful ways.
Please attend the Destination ImagiNation® Information Meeting on Thursday, September 25 at 7:00 pm at the KISD Ed Center inTexas Rooms II & III.
Check out the Destination ImagiNation website: www.IDODI.org 2008 BOND ELECTION
On Aug. 26, 2008, the Keller ISD Board of Trustees officially called for a bond election for Tuesday, Nov. 4. The bond package, which totals a little less than $168 million, will include two separate propositions.
Proposition One is dedicated to creating new facilities, improving existing assets and other infrastructure to address the school district's growth, security and safety concerns. It calls for the construction of an intermediate-middle school hybrid campus; an elementary campus; the purchase of land for a future elementary campus; the renovation of a current complex to create a multipurpose instructional facility, enabling the district to offer full-day kindgergarten; addition to the KISD Natatorium; and 10 new tennis courts.
Proposition Two will provide funding for a second district multipurpose athletic stadium to accommodate the addition of a fourth high school varsity program. The new stadium would be located on the site of Timber Creek High School which opens in the fall of 2009 and will begin varsity competition the following school year.
For more information, please visit our Web site at www.kellerisd.net. To ask questions relating to the upcoming bond election, please email BondQuestions@kellerisd.net.
FOOTBALL PLAY-BY-PLAY TO BE BROADCAST ONLINE
We are excited to announce that Champion Sports Radio is going to broadcast several of our football games this year. Most of the broadcasts will be via the internet. This means that anyone with a computer can listen live or even access a game from the archives anytime they choose. This will be great for local fans who can't attend the game and even better for friends and family who live out of town.
Go to www.championsportsradio.com. Select archives and select the game you want to listen to.
CAMPUS NEWS
PINWHEELS FOR PEACE
In observance of International Peace Day, Willis Lane Elementary School will be joining thousands of other children around the world in voicing their support of World Peace through a project called "Pinwheels For Peace." Kindergarten through 4th grade students designed and created the pinwheels based on their feelings about peace, tolerance and living in harmony. The pinwheels will be "planted" outside of Willis Lane in the courtyard on Monday, September 22 at 8:15 am. A special thanks to Home Depot for donating 600 paint sticks for the construction of the pinwheels.
CENTRAL CHARGER BRIGADE MARCH-A- THON and GARAGE SALE
The annual Central Charger Brigade March-A-Thon will be held on Saturday, September 27 from 8:00 am - 1:00 pm.
The March-a-Thon route will be as follows:
Central High School, 8:30 - 9:00am
Friendship Elementary, 9:15 - 9:45am
Jets Pizza Parking Lot, 10:15 - 10:45am
Park Glen Elementary, 11:15 - 11:45am
Hillwood Middle School, 12:15 - 12:45pm
During the March-A-Thon, Central High School is also hosting a garage sale in the parking lot. The community is welcomed to stop by for some great deals!
STUDENTS TAKE PART IN BREAST CANCER AWARENESS
On Friday, October 3, Central and Keller High Schools will put aside their rivalry and come together to raise awareness and funds for breast cancer research. During half time of the district game to be held at the Keller ISD Athletic Complex, a representative from Susan G. Komen for the Cure will accept a check from the Central and Keller High cheerleaders. Prior to the game, cheerleaders from both schools will be selling pink t-shirts and other pink items to raise money and to "Pink Out" the stands for the game. Pep rallies will be held at both schools at the end of the day on Friday to get pumped up for the game and for this great cause!
BLUEBONNET ELEMENTARY SCHOOL WINS PRESTIGIOUS AWARD
We are excited to announce that Bluebonnet Elementary School has been selected to the Texas Business and Education Coalition Honor Roll. This award recognizes schools that have demonstrated three years of consistent, high performance in all subjects compared to other schools serving similar student populations. Of the over 8,000 Texas public schools, less than 4% are selected to receive this prestigious award. Bluebonnet will be honored at an TBEC awards banquet on November 10th in San Antonio.
Congratulations to Principal, Ken McGuire, and the outstanding Bluebonnet Elementary staff.
UPCOMING EVENTS
2ND ANNUAL GOLF TOURNAMENT BENEFITING THE KELLER HIGH SCHOOL MEN'S SOCCER PROGRAM
Keller High School is proud to present the 2nd Annual Four Man Best Ball Golf Tournament benefiting the Keller High School Men's Soccer Program. This year's goal is to raise $5,000.
The Golf Tournament will be held at Sky Creek Ranch on Sunday, September 21, 2008. The cost is $80/person. Registration begins at noon with a 1:30pm Shotgun Start.
For more information, please contact Rick Hinojosa at 817-431-8325 or enrique.hinojosa@baesystems.com.
LONE STAR ELEMENTARY SCHOOL BOOK FAIR
Lone Star Elementary School is having their first book fair of the year. Book lovers of all ages are welcome to visit the Lone Star Library and buy some great books!
The book fair will be held September Monday, Sept. 22 - Friday, Sept. 26 and is open to everyone. Family night is Thursday, September 25, from 3:30 pm - 7:00 pm. The book fair will be open: Monday-Thursday, 7:40 am - 3:30 pm and Friday, 7:40 am - 11:00 am.
FLORENCE ELEMENTARY SCHOOL SCIENCE EXPLORATION FAIR
Florence Elementary School is hosting a Science Exploration Fair Monday, September 22 - Friday, September 26. Come and support the FES Science Lab. They will have educational products with items ranging from prisms to science kits and also live animals in their habitats available for purchase (Please note that a parent must be present in order to purchase animals).
The science fair will be held in the library from 8:00 am - 3:30 pm daily. There will be a special evening session on Monday, September 22, from 6:00 pm - 8:00 pm. All FES parents, students and community members are welcome to attend!
BOARD OF TRUSTEES MEETING SEPT. 22
The Keller ISD Board of Trustees will convene for a regular meeting on Monday, September 22. The meeting will begin at 6:30 pm in the Rock Gym.
KELLER ISD GOLD CLASSIC GOLF TOURNAMENT
The Keller ISD Gold Classic marks its 10th year of celebrating excellence in student athletics, recognizing the outstanding accomplishments of players and coaches from Central, Fossil Ridge and Keller high schools. During the past nine years, the Classic has provided $72,000 in scholarships and equipment for Keller ISD Athletes. This year's tournament will be held on Monday, October 20 at Sky Creek Ranch Golf Course. The deadline to register for this event is Friday, October 10. Applications are available on the KISD Web site, under Athletics. Please contact the Athletics Department at 817-744- 1066 for more information.
BROWN BAG LUNCH
Keller Middle School PTA will host a brown bag lunch with Keller ISD Superintendent James R. Veitenheimer, giving parents and community members the chance to discuss district events and hot topics. Guests are invited to ask questions and share information. The Brown Bag Lunch will be held at Keller Middle School on Thursday, October 16th at noon.
KISD PARENT UNIVERSITY
A joint effort between Keller ISD and the Parenting Center, KISD Parent University is a new program designed to bring ideas, insight, and strategies to parents in the Keller ISD community. Parenting University courses are held once every month, are free and open to the public.
The next session is on Bullying and will be held on Thursday, October 16 from 6:30 pm - 8:30 pm at the Education Center in Texas Room II (350 Keller Parkway). Interested parents can RSVP to 817-744- 6011.
Please encourage your friends to visit the Keller ISD web site, www.kellerisd.net, to sign up for the e-news group. We're looking forward to sharing our students' successes with you in 2008-09.
Sincerely,
The Keller ISD Department of Communications
e-news@kellerisd.net
Monday, September 15, 2008
Post A Comment : A More Attractive Welcome To Keller
Friday, Sep. 12, 2008
A more attractive welcome to Keller
POST A COMMENT
By SARAH JUNEK
Construction workers and equipment, utility poles, billboards and brightly colored buildings litter the visual landscape for motorists entering Keller on southbound U.S. 377. – photo by Ray Carlin
Keller’s northern main entrance along U.S. 377 is more a picture of chaos than coordinated development – and not just because of road construction.
Workers and bulldozers leave at each day’s end. But the hodgepodge of brightly colored billboards and buildings lining railroad tracks adjacent to the highway still dominates the landscape for southbound motorists entering the city.
Keller officials aim to change that landscape in hopes of making the city’s gateway along its main commercial corridor more attractive to developers. The city has no authority over the billboards and buildings, as they are in unincorporated Tarrant County.
"First we need a vision as to what would be a good fit for that area along with the neighborhood up there," Mayor Pat McGrail said.
The neighborhood, Marshall Ridge, is under construction. When finished, it will contain about 1,000 homes, priced from $250,000 to $400,000, in an area roughly between Johnson Road and the city’s northern boundary. Officials expect more interest in that stretch of U.S. 377 once those homes are built.
To prepare, officials have met with landowners there and hired consultants to draft a development plan.
Developer’s proposal
To screen future homeowners and businesses from the eyesore, one such landowner, Hanover Property Company, a Dallas developer planning to build shopping centers around the neighborhood’s two main entrances, is exploring landscaping, such as tall trees and bushes, in the small strip of land between the highway and railway.
That may help Hanover’s mile-long stretch, but consultants are addressing options for the larger area.
The consultants, engineers with the Fort Worth firm Freese and Nichols, are exploring zoning options, driveway configurations, streetscape options and an gateway design to give the area a cohesive look.
"You can almost look at any kind of corridor that doesn’t have a plan, and there’s not a consistent sidewalk, not a consistent signage or landscape," said Wendy Shabay, lead project planner.
Snag in the plans
Engineers hit a snag during a recent public meeting when some stakeholders, who seemed to lack enough information to provide feedback and were frustrated with the technical presentation, voiced more criticism about current issues than suggestions.
"We didn’t get all that we had really hoped for ... but at the same time I think people had a different idea of what the meeting was all about," Shabay said. "What we’re trying to get is what they want it to be in the future – not today, and not necessarily tomorrow."
Specific feedback sought includes whether certain businesses, such as gas stations, should be allowed and special aesthetic standards. In addition, Shabay said, "commercial development is somewhat hindered by the lack of sewer. It is an issue, so we’re going to look at how we can make some recommendations to that end."
"There are issues up north that the majority of the people are just unaware of," City Councilman John Baker said.
Land being developed by Hanover and Meritage Homes Corporation, the Arizona-based builder of the Marshall Ridge subdivision, had multiple owners, Shabay said, adding that the meeting was intended to be an "opportunity to get together and work together as land owners."
Road construction
The plan, which focuses on about 150 acres, was begun this summer, when the city contracted the firm for $57,323. A recommendation is expected in February.
It was spurred, in part, by the Texas Department of Transportation’s $13 million project to widen U.S. 377 from two lanes to four just north of the downtown district Old Town Keller to the city limits. A stretch between Keller-Hicks and Johnson roads was finished this summer. Work on the remaining portion is expected to be completed this fall.
"All of [the owners] are interested in what they can expect as far as the finished product on the TxDOT construction," city planning director Richard Luedke said. "Once we give them that information, the longer-term things can be talked about."
A more attractive welcome to Keller
POST A COMMENT
By SARAH JUNEK
Construction workers and equipment, utility poles, billboards and brightly colored buildings litter the visual landscape for motorists entering Keller on southbound U.S. 377. – photo by Ray Carlin
Keller’s northern main entrance along U.S. 377 is more a picture of chaos than coordinated development – and not just because of road construction.
Workers and bulldozers leave at each day’s end. But the hodgepodge of brightly colored billboards and buildings lining railroad tracks adjacent to the highway still dominates the landscape for southbound motorists entering the city.
Keller officials aim to change that landscape in hopes of making the city’s gateway along its main commercial corridor more attractive to developers. The city has no authority over the billboards and buildings, as they are in unincorporated Tarrant County.
"First we need a vision as to what would be a good fit for that area along with the neighborhood up there," Mayor Pat McGrail said.
The neighborhood, Marshall Ridge, is under construction. When finished, it will contain about 1,000 homes, priced from $250,000 to $400,000, in an area roughly between Johnson Road and the city’s northern boundary. Officials expect more interest in that stretch of U.S. 377 once those homes are built.
To prepare, officials have met with landowners there and hired consultants to draft a development plan.
Developer’s proposal
To screen future homeowners and businesses from the eyesore, one such landowner, Hanover Property Company, a Dallas developer planning to build shopping centers around the neighborhood’s two main entrances, is exploring landscaping, such as tall trees and bushes, in the small strip of land between the highway and railway.
That may help Hanover’s mile-long stretch, but consultants are addressing options for the larger area.
The consultants, engineers with the Fort Worth firm Freese and Nichols, are exploring zoning options, driveway configurations, streetscape options and an gateway design to give the area a cohesive look.
"You can almost look at any kind of corridor that doesn’t have a plan, and there’s not a consistent sidewalk, not a consistent signage or landscape," said Wendy Shabay, lead project planner.
Snag in the plans
Engineers hit a snag during a recent public meeting when some stakeholders, who seemed to lack enough information to provide feedback and were frustrated with the technical presentation, voiced more criticism about current issues than suggestions.
"We didn’t get all that we had really hoped for ... but at the same time I think people had a different idea of what the meeting was all about," Shabay said. "What we’re trying to get is what they want it to be in the future – not today, and not necessarily tomorrow."
Specific feedback sought includes whether certain businesses, such as gas stations, should be allowed and special aesthetic standards. In addition, Shabay said, "commercial development is somewhat hindered by the lack of sewer. It is an issue, so we’re going to look at how we can make some recommendations to that end."
"There are issues up north that the majority of the people are just unaware of," City Councilman John Baker said.
Land being developed by Hanover and Meritage Homes Corporation, the Arizona-based builder of the Marshall Ridge subdivision, had multiple owners, Shabay said, adding that the meeting was intended to be an "opportunity to get together and work together as land owners."
Road construction
The plan, which focuses on about 150 acres, was begun this summer, when the city contracted the firm for $57,323. A recommendation is expected in February.
It was spurred, in part, by the Texas Department of Transportation’s $13 million project to widen U.S. 377 from two lanes to four just north of the downtown district Old Town Keller to the city limits. A stretch between Keller-Hicks and Johnson roads was finished this summer. Work on the remaining portion is expected to be completed this fall.
"All of [the owners] are interested in what they can expect as far as the finished product on the TxDOT construction," city planning director Richard Luedke said. "Once we give them that information, the longer-term things can be talked about."
Thursday, September 11, 2008
Tip Of The Week
Some Scents and their reactions:
Chamomile: Calming and soothing. Eases anger and anxiety.
Clary Sage: Relaxing, euphoric. Eases anxiety, tension and stress.
Eucalyptus: Fresh cooling and invigorating. Promotes alertness.
Jasmine: Alleviates anxiety and depression.
Lavender: Calming
Lemon: Refreshing and energizing. Eases tension. Heightens mental clarity.
Mandarin: Relaxing and calming. Relieves insomnia.
Neroli/ Orange Blossom: Relieves stress, anxiety and insomnia.
Peppermint: Refreshing and stimulating. Increases alertness.
Rosemary: A stimulant that promotes mental clarity and alertness.
Sandalwood: Warm, sensual aroma. Euphoric and seductive.
Chamomile: Calming and soothing. Eases anger and anxiety.
Clary Sage: Relaxing, euphoric. Eases anxiety, tension and stress.
Eucalyptus: Fresh cooling and invigorating. Promotes alertness.
Jasmine: Alleviates anxiety and depression.
Lavender: Calming
Lemon: Refreshing and energizing. Eases tension. Heightens mental clarity.
Mandarin: Relaxing and calming. Relieves insomnia.
Neroli/ Orange Blossom: Relieves stress, anxiety and insomnia.
Peppermint: Refreshing and stimulating. Increases alertness.
Rosemary: A stimulant that promotes mental clarity and alertness.
Sandalwood: Warm, sensual aroma. Euphoric and seductive.
Tuesday, September 9, 2008
Keep Up With What Is Happening In Keller
Check This Link Out!! http://www.americantowns.com/tx/keller
Tuesday, September 2, 2008
Info For Buyer's
A buyer's primer
Downpayment assistance:
There’s lots of help for buyers
In any economy, one of the best investments has always been real estate. You just can’t beat the value of your own chunk of land and a nice house to go on it. But for many potential buyers, the problem is coming up with a downpayment to make this defining purchase. The fact is that very few homebuyers have the cash available to buy a home outright. Most of us will rely on a financial institution for a mortgage, but buyers still need to raise the cash for a downpayment.
The downpayment is that portion of the purchase price you furnish yourself. The balance is your mortgage. The amount of your downpayment (which represents your financial stake, or the equity in your new home) should be determined well before you start house hunting, but in basic terms, the larger the downpayment, the less your home costs in the long run.
No matter which type of mortgage you choose, in most cases you’ll still need to come up with a downpayment of at least 5%, plus some amount on closing costs.
Programs to help
The good news is that options abound for those who want to own a home, but who might be strapped for cash when it comes to the downpayment. One is the Texas Cares program, which provides downpayment assistance gift funds up to 6% to qualified homebuyers who purchase homes using an eligible loan program, such as a Federal Housing Administration-insured (FHA) loan.
Brought to Texans by the Texas Association of REALTORS® Housing Opportunity Foundation, Texas Cares not only assists buyers with the downpayment, it asks the seller to contribute to a charitable organization that’s committed to ensuring affordable housing for all. Now that’s housing with a conscience. For more information, visit www.TexasCaresProgram.org.
Believe it or not, it’s also possible to buy a home with nothing down. Here are several methods that help eligible homebuyers minimize – or even eliminate – the dreaded downpayment. They include VA loans; owner financing; house trading; job-related federal programs; and state and local government programs
VA loans
Active and retired members of the military service, veterans, and the un-remarried widows of prisoners of war and those missing in action can buy homes with little or no money down under VA programs. All branches of the service including the Coast Guard are eligible. And members of Selected Reserves or National Guard who have completed six years may also be eligible, along with many with World War II servicemen from the merchant marines, military academies and others pulled into service for the war effort. Contact the VA for more information.
Owner financing and lease-purchase
If there’s a glut of unsold homes in a market, some sellers – especially those in a hurry – are more willing to help potential buyers – and more agree to finance a loan themselves. Owner financing, many times, eliminates the need for a larger downpayment.
House trading
Don’t like your house? Then trade it! Many professional investors acquire homes with no money down by trading one property for another. In some cases, they trade one large property for several smaller rental properties. Or they trade houses in different cities to acquire a vacation or retirement home.
HUD and job-related federal programs
The Office of Housing and Urban Development (HUD) offers special financing for first-time homebuyers that’s based on need and is designed to help low-income families buy their first home without significant downpayment or closing costs. And, if you happen to buy a HUD foreclosure home, a downpayment may not be required.
The federal government also has programs to help farmers and police personnel acquire homes with nothing down. For those with limited income who wish to live in rural areas, the Rural Economic and Community Development Administration offers farmers home loans with nothing down. Monthly payments may be subsidized and the interest can be as low as 1%. And, to encourage police to occupy homes in crime-targeted areas, special federal programs permit police officers to purchase homes in selected areas with nothing down. Information is available to law enforcement officers through their places of employment.
Fannie Mae (the Federal National Mortgage Association) also offers special options for first-time homebuyers, including lower cash requirements for downpayment and closing costs and reduced income requirements to qualify for a loan.
And in Texas, the Texas Department of Housing and Community Affairs offers its First Time Homebuyer program for very low to moderate income Texas families, as well as the Downpayment Assistance Program. Call 800-792-1119 for more information.
With so many options available, the dream of homeownership can become a reality for all Texans. Without the hurdle of a big downpayment, anything’s possible.
Sources: Texas Cares; Bankrate.com
Downpayment assistance:
There’s lots of help for buyers
In any economy, one of the best investments has always been real estate. You just can’t beat the value of your own chunk of land and a nice house to go on it. But for many potential buyers, the problem is coming up with a downpayment to make this defining purchase. The fact is that very few homebuyers have the cash available to buy a home outright. Most of us will rely on a financial institution for a mortgage, but buyers still need to raise the cash for a downpayment.
The downpayment is that portion of the purchase price you furnish yourself. The balance is your mortgage. The amount of your downpayment (which represents your financial stake, or the equity in your new home) should be determined well before you start house hunting, but in basic terms, the larger the downpayment, the less your home costs in the long run.
No matter which type of mortgage you choose, in most cases you’ll still need to come up with a downpayment of at least 5%, plus some amount on closing costs.
Programs to help
The good news is that options abound for those who want to own a home, but who might be strapped for cash when it comes to the downpayment. One is the Texas Cares program, which provides downpayment assistance gift funds up to 6% to qualified homebuyers who purchase homes using an eligible loan program, such as a Federal Housing Administration-insured (FHA) loan.
Brought to Texans by the Texas Association of REALTORS® Housing Opportunity Foundation, Texas Cares not only assists buyers with the downpayment, it asks the seller to contribute to a charitable organization that’s committed to ensuring affordable housing for all. Now that’s housing with a conscience. For more information, visit www.TexasCaresProgram.org.
Believe it or not, it’s also possible to buy a home with nothing down. Here are several methods that help eligible homebuyers minimize – or even eliminate – the dreaded downpayment. They include VA loans; owner financing; house trading; job-related federal programs; and state and local government programs
VA loans
Active and retired members of the military service, veterans, and the un-remarried widows of prisoners of war and those missing in action can buy homes with little or no money down under VA programs. All branches of the service including the Coast Guard are eligible. And members of Selected Reserves or National Guard who have completed six years may also be eligible, along with many with World War II servicemen from the merchant marines, military academies and others pulled into service for the war effort. Contact the VA for more information.
Owner financing and lease-purchase
If there’s a glut of unsold homes in a market, some sellers – especially those in a hurry – are more willing to help potential buyers – and more agree to finance a loan themselves. Owner financing, many times, eliminates the need for a larger downpayment.
House trading
Don’t like your house? Then trade it! Many professional investors acquire homes with no money down by trading one property for another. In some cases, they trade one large property for several smaller rental properties. Or they trade houses in different cities to acquire a vacation or retirement home.
HUD and job-related federal programs
The Office of Housing and Urban Development (HUD) offers special financing for first-time homebuyers that’s based on need and is designed to help low-income families buy their first home without significant downpayment or closing costs. And, if you happen to buy a HUD foreclosure home, a downpayment may not be required.
The federal government also has programs to help farmers and police personnel acquire homes with nothing down. For those with limited income who wish to live in rural areas, the Rural Economic and Community Development Administration offers farmers home loans with nothing down. Monthly payments may be subsidized and the interest can be as low as 1%. And, to encourage police to occupy homes in crime-targeted areas, special federal programs permit police officers to purchase homes in selected areas with nothing down. Information is available to law enforcement officers through their places of employment.
Fannie Mae (the Federal National Mortgage Association) also offers special options for first-time homebuyers, including lower cash requirements for downpayment and closing costs and reduced income requirements to qualify for a loan.
And in Texas, the Texas Department of Housing and Community Affairs offers its First Time Homebuyer program for very low to moderate income Texas families, as well as the Downpayment Assistance Program. Call 800-792-1119 for more information.
With so many options available, the dream of homeownership can become a reality for all Texans. Without the hurdle of a big downpayment, anything’s possible.
Sources: Texas Cares; Bankrate.com
Texas Real Estate Market
Real Estate in Texas
JUL 17, 2008
Texas’ Real Estate Markets Healthier Than Most
By David S. Jones
Texas’ real estate markets never caught the housing bust bug that spread like the flu across most of the United States. But now the doctors tell me that the Lone Star State is showing some of the symptoms that flattened residential sales nationwide.
Jim Gaines, Ph.D., an economist for the Real Estate Center at Texas A&M University, keeps his finger on the pulse of the state’s major housing markets. If one market misses a beat, he knows it.
First, the bad news. Because Texas housing markets were at a peak in 2007, it should come as no surprise that Gaines’ latest housing market checkup shows widespread weak home sales.
Statewide, existing home sales in May 2008 were down 15.4% from a year ago. Again, that was to be expected as the Texas building and sales bubbles had to subside eventually.
Lubbock and McAllen received the best reports. Home sales in the High Plains market declined only 0.5%, the least of any examined. McAllen’s fell 1.7%.
By comparison, sales of existing homes were down 20.6% in Austin, 14% in Dallas, 33% in El Paso, 13.8% in Fort Worth, 15.7% in Houston, and 23% in San Antonio.
Texas home prices holding steady
The good news for Texas homesellers is that prices are holding. That’s in stark contrast to what’s happening in other parts of the country. The national median home price fell by 1.8% in 2007, which was the first time a negative change had been recorded since the 1960s. By May 2008, U.S. home prices were already down another 6.8%.
In contrast, the statewide median price for an existing home in Texas is $151,300, up 1.4% from May 2007.
Lubbock had the state’s highest price increase during the year – up 11.1% – with a median of $113,100. Amarillo’s median of $122,200 was 7.4% higher than a year ago. Austin’s 6.1% increase pushed its median to $194,700. El Paso’s median was $137,800, up 5.8% in 12 months.
Home prices in some areas of Texas did fall in the last year. Beaumont’s median of $127,600 is 7% lower. McAllen is down 5.5% to $100,400.
Statewide inventory higher than normal
One of the vital signs Gaines keeps an eye on is months of inventory on the market. That is, how many months would it take to sell all the existing homes in an area at the current sales pace? About six months is considered normal. In general, the bigger the inventory, the sicker the patient.
Texas has an overall inventory of 6.9 months. Nationally, the existing home inventory is 10.4 months (and the new home inventory is 11 months).
El Paso and McAllen are two Texas cities with bulging inventories. McAllen has the biggest stock of unsold homes – 15.2 months. El Paso is close behind at 12.1 months.
Cities with notably small inventories include Amarillo (5.5 months), Austin (5.7 months), and Lubbock (5.5 months).
“Getting back to normal” is how many real estate people describe today’s Texas market. The doctors at the Real Estate Center agree with that diagnosis.
For more information, see Gaines’ most recent “x-rays” of the Texas market.
From:Real Estate Center
JUL 17, 2008
Texas’ Real Estate Markets Healthier Than Most
By David S. Jones
Texas’ real estate markets never caught the housing bust bug that spread like the flu across most of the United States. But now the doctors tell me that the Lone Star State is showing some of the symptoms that flattened residential sales nationwide.
Jim Gaines, Ph.D., an economist for the Real Estate Center at Texas A&M University, keeps his finger on the pulse of the state’s major housing markets. If one market misses a beat, he knows it.
First, the bad news. Because Texas housing markets were at a peak in 2007, it should come as no surprise that Gaines’ latest housing market checkup shows widespread weak home sales.
Statewide, existing home sales in May 2008 were down 15.4% from a year ago. Again, that was to be expected as the Texas building and sales bubbles had to subside eventually.
Lubbock and McAllen received the best reports. Home sales in the High Plains market declined only 0.5%, the least of any examined. McAllen’s fell 1.7%.
By comparison, sales of existing homes were down 20.6% in Austin, 14% in Dallas, 33% in El Paso, 13.8% in Fort Worth, 15.7% in Houston, and 23% in San Antonio.
Texas home prices holding steady
The good news for Texas homesellers is that prices are holding. That’s in stark contrast to what’s happening in other parts of the country. The national median home price fell by 1.8% in 2007, which was the first time a negative change had been recorded since the 1960s. By May 2008, U.S. home prices were already down another 6.8%.
In contrast, the statewide median price for an existing home in Texas is $151,300, up 1.4% from May 2007.
Lubbock had the state’s highest price increase during the year – up 11.1% – with a median of $113,100. Amarillo’s median of $122,200 was 7.4% higher than a year ago. Austin’s 6.1% increase pushed its median to $194,700. El Paso’s median was $137,800, up 5.8% in 12 months.
Home prices in some areas of Texas did fall in the last year. Beaumont’s median of $127,600 is 7% lower. McAllen is down 5.5% to $100,400.
Statewide inventory higher than normal
One of the vital signs Gaines keeps an eye on is months of inventory on the market. That is, how many months would it take to sell all the existing homes in an area at the current sales pace? About six months is considered normal. In general, the bigger the inventory, the sicker the patient.
Texas has an overall inventory of 6.9 months. Nationally, the existing home inventory is 10.4 months (and the new home inventory is 11 months).
El Paso and McAllen are two Texas cities with bulging inventories. McAllen has the biggest stock of unsold homes – 15.2 months. El Paso is close behind at 12.1 months.
Cities with notably small inventories include Amarillo (5.5 months), Austin (5.7 months), and Lubbock (5.5 months).
“Getting back to normal” is how many real estate people describe today’s Texas market. The doctors at the Real Estate Center agree with that diagnosis.
For more information, see Gaines’ most recent “x-rays” of the Texas market.
From:Real Estate Center
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