Today’s Houston real estate asking prices are derived from local market conditions based on comparable sales prices paid by home buyers in a particular neighborhood. Despite recent sales volume declines, prices are holding steady across Houston. While that may not be true for all Houston area neighborhoods, there hasn’t been an overall 15% drop in Houston home values. The housing supply is growing — tending to favor home buyers — but it hasn’t increased enough to force home sellers into large double-digit price reductions.

A Houston Chronicle Real Estate discussion posted a few weeks ago asked if Realtors share blame for the mortgage crisis unwinding across the country. Citing dual-licensed Realtors (those holding real estate and mortgage brokers licenses) as part of the problem, some forum participants pointed to the potential conflict of interest between real estate and mortgage brokerage as a reason for the mortgage crisis, while others stated that dual-licensed Realtors couldn’t adequately perform both jobs as agent and mortgage broker. Both could be valid points — yet, the number of Realtors holding a both a real estate and mortgage license isn’t large enough to have contributed to the mortgage crisis in a significant way.

If you’re considering an online lender, be aware that online mortgage mills lower rates through volume processing — so you’re unlikely to get timely assistance if your loan runs into a problem. When a large online mortgage lender’s “quality control review” didn’t catch a loan processor’s missed employment verification until a few days before closing — something the borrower was assured was completed weeks earlier — it necessitated a last minute change in loans (with its higher rate, fees, and down payment) to get loan approval before losing the deal. Fortunately, the borrower had the additional resources necessary to make it happen.

Short sales make up a small percentage of current sales transactions, but that number is growing. Homeowners who are “upside down” (owing more on the home than its current value) and can no longer make the monthly payments are using “short sales” to avoid a threatened foreclosure. Short sales are often a complex and lengthy process approved by the mortgage holder or mortgage servicer in agreement with the homeowner. With the lender or “third party” approval, the home is sold “short” for less than the outstanding mortgage balance to a new buyer prior to foreclosure.

Home price appreciation in Harris County for the past decade has kept high property taxes a Hot Button topic for Texas homeowners. Texas consistently ranks among the top ten states for the highest property taxes in the nation, and many county home owners experienced a 50% increase in property taxes between 2000 and 2004. It’s not uncommon to stand in line at your local grocery store and overhear your neighbors’ conversation about the hurtful pinch of skyrocketing HCAD appraisal values. They’re not just talking in the grocery store; record numbers of property owners are making their voices heard in HCAD’s office. Paul Bettencourt, Harris County’s tax collector, reports that Harris County processed 350,000 property tax protests last year. As the deadline for filing your 2008 tax protest approaches, here are some tips to smooth your way through the tax protest process. Complete instructions are available at the HCAD website.

The 2008 Atlantic Hurricane season starts June 1 and runs until November 30. Storms develop quickly in warm gulf waters, so start preparations early. While the 2006 & 2007 seasons were relatively quiet, it’s difficult to predict when the coastal area may see its next active season. Gulf Coast residents know from experience that storm devastation happens both with a highly organized Category 3 storm, and the stalled, disorganized tropical storm.

Humble Independent School District, covering a large part of the NE quadrant of the Houston metropolitan area, has grown from an early 1900’s one-teacher, one-room schoolhouse to membership in the 25 fastest-growing Texas school districts in the state. Over 2,000 teachers and 35 schools offer a 14.4 pupil-to-teacher ratio. It’s projected budget of over $222 million for 2007-08 rivals that of many small Texas towns.

Since Texas deregulated utilities several years ago, consumers have elected to shop for competitive electricity rates in growing numbers. As competitors have entered the market, several websites have come along with tools for comparing their rates and plans.

HoustonConsumerChoice.com and ElectricityTexas.com allow consumers to learn about renewable energy, compare plans and rates, order new services, transfer existing services, switch providers, or choose from other value-added services. These tools can help you lower your electric bills in just a few easy steps — and several providers include exclusive web offers for additional savings.