The Woodlands Rental Market June 2009 Stats

How is the rental market in The Woodlands? A common question asked of me by investors and owners of residential lease property. Let's take a look at Lease Sales Statistics of The Woodlands Rental Market for June 2009.

The charts below focused on single family homes and town homes/condos leased during June 1 to June 30 2009. Properties were grouped by number of bedrooms (2 or more) and sub-grouped by the year the home was built. Data used was provided by the Houston Association of Realtors.

Charts 1a and 1b show the average lease price of properties sold in June 2009.

Chart 1a. Average Single Family Home Lease Price

Chart 1b. Average Town Home Condo Lease Price

Chart 2a and 2b shows the number of leases closed (sold).

Chart 2a. # of Single Family Homes Leased

Chart 2a. # of Town Homes Condos Leased

Chart 3a and 3b shows the Average Days On Market of leases closed.

Chart 3a. Avg. DOM Single Family Homes Leased

Chart 3b. Avg. DOM Town Homes Condos Leased

$8000 Tax Credit and More Down Payment Assistance. What it means to a Buyer

When I bought my first house in 2001, I didn't have a clue on how to go about it.  I sure didn't know of any government funds I could use to help make my down payment or pay closing costs.  Maybe there were, but neither I or my Realtor knew about them.  So I did what any good young adult would do, asked Mom! (jk. but Im sure she would have helped!)

Today the first time home buyer (or buyer who has not owned a primary residence in the last 3 years) has a number of programs and tax credits to take advantage of.  There is the much talked about Federal Tax Credit of up to $8000.  Drawback of this is the funds are not made available to the buyer at closing ... but wait!  The great State of Texas is helping buyers take advantage of the $8000 Federal Tax credit AT CLOSING!  And Here is how:

Qualified Buyer chooses one of the Down Payment Assistance Programs (see below) and receives up to $7000 immediately for down payment or closing costs.  After closing Buyer requests the Federal Tax Credit (up to 10% of the purchase price, maximum of $8000).  Within 8 to 12 weeks the buyer receives the Tax Credit from the Federal Government.  Buyer uses the tax credit to pay back the State of Texas.  Nice huh!

Check out these programs offered by the Texas Dept. of Housing and Community Affairs (TDHCA):

State of Texas Down Payment Assistance Programs

1. 90 Day Down payment Assistance Program
    Borrow 5% (up to $7000) of the purchase price for Down payment or closing costs at 0%!.  (Now that's as good as Mom!).  Unlike some Mom's, the State of TX requires the money be paid back within 90 days OR if you need to take up to 2 years to pay it back, they will charge you 10% interest.  Still not bad and better than most credit cards! (And the interest rate doesn't change)


2.  Mortgage Advantage Program
    Borrow 5% (up to $6000) for down payment and/or closing costs at 0% interest for up to 120 days!  Or take up to 5 years to repay at 7% interest.

Now People these Programs are only available on purchase made BEFORE DEC 1. 2009!!!  If you want to take advantage of this, you need to act now! 

For more information on the programs go to http://www.myfirsttexashome.com

Call your Realtor and go shopping!!!

TGF