Equivalent of about 186 football fields. More than 600 TxDOT employees working weekly rotations have been brought in from around the state to assist local employees in the hardest-hit areas from Corpus Christi to Beaumont. All roads are now open, except one in Bastrop County. Of the 4,300 bridges inspected following the storm, only 13 required repairs.
The Panama Canal has been widened to handle larger cruise ships, tankers & barges, so the locally based Contanda Terminals had acquired 339 acres with deep-water access for a shipping terminal. Will be build in phases. It will provide access to onsite processing, multiple ship and barge docks, and tank truck and rail car accessibility. This will help to accommodate the larger vessels coming to Houston.
(1) Make one extra payment each year. Shaves off about 4 years of a loan. (2) Add a little extra to each monthly payment. Probably better to simply make an extra payment when you can (less confusion). (3) Refinance to a shorter-term loan. Often to do this, much have 20% cash into the loan already. Be SURE YOUR LENDER DOES THIS CORRECTLY. (4) Create your own amortization schedule. Like refinancing minus the fees & paperwork. JUST CHECK WITH YOUR LENDER BEFORE YOU DO ANY OF THIS!
(4) Repairing a flooded home will cost you. Drying up a 2,000 sf house in normal conditions may cost over $2,500. (5) Homeowner insurance doesn’t cover all floods. Make sure you know what the insurance covers. Most do NOT cover rising water, but will if comes thru the roof. Have to ask for it specifically. Many in the Houston, Beaumont & other areas have a lot to learn about this.
(1) A flooded home can be fixed. Removing the moisture is the key. Get in there and clean up quickly. Closer to the 3 to 5 day mark, then becomes questionable. (2) You’d be amazed what can be saved. Use truck-mounted vacuums with 2,000 horsepower and dehumidifiers. Maybe even sheetrock & TVs and laptops. (3) Mold, not water is the real problem, particularly in the Houston hot weather. Treat with anti-mold agents. MORE TO COME
Home sales declined 25% in August as Hurricane Harvey knocked out hundreds of deals at the end of the month. Insurance companies restrict the initiation of new policies for homeowners & this delays many closings. Then homes have to be re-inspected for flood damage & may not close till the damage is repaired. Houston is still ahead of closing more than 2016 by 1.8%.
Downtown has become a major draw for millennials as a place to work, play and live. The downtown area contains one of the highest population concentrations. Housing outside the downtown area is robust. ZIP code 75703, south of downtown is the 2nd most active with over 600 homes sold each of the past two years. AGAIN QUITE A TYLER RENAISSANCE. CALL THE BAINS at BAIN REAL ESTATE, 903-571-2101.
Communities in between, such as Flint and Whitehouse have seen lots of activity. Residential sales in ZIP codes 75701, 75703 and 75762 have been most active as well as 75757. In 2016 the 249 home sales through the MLS were a 25% jump over 2015. Second quarter 2017 is showing the same growth. MORE TO COME
Tyler has been a busy area for real estate development in recent years. South on Broadway Ave. there is plenty of new commercial development. Formerly wooded areas are new major shopping venues and the housing market is booming with single and multifamily permits on the rise. Much of the housing activity has been in the south half of Smith County between SH 31, which splits Tyler nor and south to the county line at Bullard. MORE TO COME
Lower-than-national-average mortgage costs enabled Texas households to allocate smaller shares of their incomes for housing costs. On average, Texas households with a mortgage allocated 22.6% of their income for housing costs compared with a national average of 24.1% for the U. S. from 2005 to 2015. WE ARE IN A RARE STATE – TX – TO ACCOMPLISH ALL THIS!!