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23501 Cinco Ranch Blvd # C140, Katy, TX 77494
Phone: (281) 392-0200 Fax: (800) 383-5296
My name is Bob Christian and I am a Realtor® with Better Homes & Gardens Real Estate in the Katy/West Houston area. I truly enjoy being able to help families with what is usually the most important purchase of their lives. If I can help you in any way, please do not hesitate to ask.
In a time when saving money is on everyone’s mind, unfortunately some methods of saving money can be easily overlooked. Take a look at the below article by Stephanie Armour. Those that can take advantage of the extremely low mortgage rates now will be in an amazingly rare position that will probably never happen again in our lifetime.
Shorter-Term Refis Can Save Big Money
Shorter-term loans are gaining favor as rates continue to fall.
On average at today’s rates, a borrower refinancing their 6.5 percent loan would save $70,000 over the life of a $200,000 20-year loan vs. a 30-year loan.
These kinds of refinances are particularly popular among people who are approaching retirement, said Peter Iche, president of Carthage Federal Savings and Loan Association in Carthage, N.Y.
Source: USA Today, Stephanie Armour (08/16/2010)
For anyone who would like more information, I would be happy to refer honest lenders that will give you an sincere and detailed analysis of your current position without any commitment on your part. They can also help explain how a current refinance may be able to help give you the financial stability that you are seeking.
For information like this and more, please email me at Bob@FinerHomesofKaty.com or you can always check out our website at www.FinerHomesofKaty.com.
Please don’t forget that our team can assist you with a multitude of services:
· Corporate relocation
· New construction consultation
· Resale buyer and sellers
· First-time home buyers
Remember…WE LOVE REFERRALS!!!
Bob Christian, e-Pro REALTOR® Consultant
Better Homes & Gardens Real Estate - Anderson Properties
“The Bob Christian Team”
23501 Cinco Ranch Blvd., Suite c-140,
Katy, TX 77494
(281) 392-0200 Main
(281) 769-4420 Direct
(832) 875-8555 Mobile
(800) 383-5296 e-Fax
Bob@FinerHomesofKaty.com
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A 3.8 Percent “Sales Tax” on Your Home?
www.FactCheck.org
April 22, 2010
Q: Does the new health care law impose a 3.8 percent tax on profits from selling your home?
A: No, with very few exceptions. The first $250,000 in profit from the sale of a personal residence won’t be taxed, or the first $500,000 in the case of a married couple. The tax falls on relatively few — those with high incomes from other sources.
FULL QUESTION
I received this e-mail:
This should help stimulate the Real Estate market!
UNDER THE NEW HEALTH CARE BILL - DID YOU KNOW THAT ALL REAL ESTATE TRANSACTIONS ARE SUBJECT TO A 3.8% “SALES TAX”?
YOU CAN THANK NANCY, HARRY & BARACK (AND YOUR LOCAL CONGRESSMAN) FOR THIS ONE.
IF YOU SELL YOUR $400,000 HOME, THIS WILL BE A $15,200 TAX.
Verified
Higher taxes on real estate investments. The 3.8% Medicare surtax would hit average, middle-class investors in real estate. A middle-class taxpayer who happens to sell real estate for a gain in a particular year would be liable for this new tax, regardless of how low her income might be in other, more typical years.
FULL ANSWER
We’ve been flooded with queries about this one ever since the health care bill became law. At the last minute, Democratic lawmakers decided on a new 3.8 percent tax on the net investment income of high-income persons. But the claim that this would amount to a $15,200 tax on the sale of a typical $400,000 home is utterly false.
The truth is that only a tiny percentage of home sellers will pay the tax. First of all, only those with incomes over $200,000 a year ($250,000 for married couples filing jointly) will be subject to it. And even for those who have such high incomes, the tax still won’t apply to the first $250,000 on profits from the sale of a personal residence — or to the first $500,000 in the case of a married couple selling their home.
We can understand how this misconception got started. The law itself is couched in highly technical language that only a qualified tax expert can fully grasp. (This provision begins on page 33 of the reconciliation bill that was passed and signed into law.) And it does say the tax falls on "net gain … attributable to the disposition of property." That would include the sale of a home. But the bill also says the tax falls only on that portion of any gain that is "taken into account in computing taxable income" under the existing tax code. And the fact is, the first $250,000 in profit on the sale of a primary residence (or $500,000 in the case of a married couple) is excluded from taxable income already. (That exclusion doesn’t apply to vacation homes or rental properties.)
The Joint Committee on Taxation, the group of nonpartisan tax experts that Congress relies on to analyze tax proposals, underscores this in a footnote on page 139 of its report on the bill. The note states: "Gross income does not include … excluded gain from the sale of a principal residence."
And just to be sure, we checked with William Ahern, director of policy and communications for the nonprofit, pro-business Tax Foundation. "Some home sales would see a tax increase under this bill," Ahern told us, "but it would have to be a second home or a principal residence generating [a gain of] more than $250,000 ($500,000 for a couple)."
So there you have it. The sort of people who would have to pay the tax might include, for example:
- A single executive making $210,000 a year who sells his $300,000 ski condo for a $50,000 profit. His tax on the sale of that vacation home would amount to $1,900, in addition to the capital gains tax he would have paid anyway.
- An "empty nester" couple with combined income of over $250,000 a year who sell their $1 million primary residence to move to smaller quarters. If they cleared $600,000 on the sale, they would be taxed on $100,000 of the profit (the amount over the half-million-dollar exclusion). Their health care tax on the sale would amount to $3,800 over and above the usual capital gains levy.
However, a typical home sale would not incur any tax. In March, for example, half of all existing homes sold for $170,700 or less, according to the National Association of Realtors. Obviously, none of those sales could possibly generate a $250,000 profit, and so none would be subject to the tax.
Thus, for the vast majority, the 3.8 percent tax won’t apply. The Tax Foundation, in a report released April 15, said the new tax on investment income (including real estate) "will hit approximately the top-earning two percent of families" when it takes effect in 2013.
Footnote: Some of the chain e-mails that claim ordinary home sales will be taxed include a copy of an article written by Paul Guppy, a policy analyst with the conservative Washington Policy Institute (that’s Washington state, not Washington, D.C.). The article appeared March 28 as an op-ed in the Spokane, Wash., Spokesman-Review, and Guppy claimed that "[m]iddle-income people must pay the full tax even if they are ‘rich’ for only one day." That brought a quick rebuttal from Sara Orrange, the government affairs director of the local Realtors association. She wrote a letter to the newspaper calling Guppy’s article "inaccurate" and saying, "Most people who sell their homes will not be impacted by these new regulations. This is not a new tax on every seller, and that correction needs to be made." In a news article the next day, business reporter Bert Caldwell confirmed that only "a very few" home sellers would pay the 3.8 percent tax.
The Internal Revenue Service says that to qualify for the $250,000/$500,000 exclusion, a seller must have owned the home and lived there as the seller’s "main home" for at least two years out of the five years prior to the sale.
– Brooks Jackson
Sources
Joint Committee on Taxation. "Technical Explanation of the Revenue Provisions of the ‘Reconciliation Act of 2010,’ As Amended, In Combination with the ‘Patient Protection and Affordable Care Act.’" 21 Mar 2010.
Ahern, William. E-mail to FactCheck.org, 22 Apr 2010.
National Association of Realtors. "Existing-Home Sales Rise on Home Buyer Tax Credit and Favorable Market Conditions." Press release. 22 Apr 2010.
Fleenor, Patrick and Gerald Prante. "Health Care Reform: How Much Does It Redistribute Income?" The Tax Foundation. 15 Apr 2010.
Guppy, Paul. "Health Law’s Heavy Impact." Spokesman-Review. 28 Mar 2010.
Orrange, Sara. "Home sales tax clarified." Letter. Spokesman-Review. 1 Apr 2010.
Caldwell, Bert. "Realtors take aim at health care tax claim." Spokesman-Review. 4 Apr 2010.
It's a Great Time for Housing Deals
Paying off an underwater mortgage and buying a better home could be the best tactic in this troubled market.
"If you are trading up, what better time than when interest rates are at record lows and the cost of the trade-up is much less than it used to be?" says Christopher J. Mayer, a Columbia Business School economist.
With 15-year fixed-rate mortgages at about 4.5 percent, it also makes sense to pay off the mortgage and keep the house. "At this point," says Jay Brinkmann, chief economist of the Mortgage Bankers Association in Washington, D.C., "if they don't have anything else that is bringing a tremendous return, then they are buying themselves an annuity by paying their house off sooner than they needed to."
Source: The Wall Street Journal, M.P. McQueen (07/24/2010)
Paying off an underwater mortgage and buying a better home could be the best tactic in this troubled market.
"If you are trading up, what better time than when interest rates are at record lows and the cost of the trade-up is much less than it used to be?" says Christopher J. Mayer, a Columbia Business School economist.
With 15-year fixed-rate mortgages at about 4.5 percent, it also makes sense to pay off the mortgage and keep the house. "At this point," says Jay Brinkmann, chief economist of the Mortgage Bankers Association in Washington, D.C., "if they don't have anything else that is bringing a tremendous return, then they are buying themselves an annuity by paying their house off sooner than they needed to."
Source: The Wall Street Journal, M.P. McQueen (07/24/2010)
Mortgage Applications Rise as Rates Stay Low
Applications to purchase homes rose 3.4 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, the purchase index rose 15.3 percent compared with the previous week, but was down 35.7 percent compared to the same week a year ago.
This is only the second time in 10 weeks that purchase mortgage applications have increased.
“The strength in purchase applications comes from government loans, likely indicating that prospective buyers are drawn by the lower down payment requirements,” says Michael Fratantoni, MBA’s vice president of research and economics.
Mortgage rates remained low:
• 30-year fixed-rate mortgages decreased to 4.59 percent from 4.69 percent.
• 15-year fixed-rate mortgages decreased to 4.05 percent from 4.12 percent.
• 1-year ARMs decreased to 7.17 percent from 7.20 percent.
Source: Mortgage Bankers Association (07/21/2010)
Applications to purchase homes rose 3.4 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, the purchase index rose 15.3 percent compared with the previous week, but was down 35.7 percent compared to the same week a year ago.
This is only the second time in 10 weeks that purchase mortgage applications have increased.
“The strength in purchase applications comes from government loans, likely indicating that prospective buyers are drawn by the lower down payment requirements,” says Michael Fratantoni, MBA’s vice president of research and economics.
Mortgage rates remained low:
• 30-year fixed-rate mortgages decreased to 4.59 percent from 4.69 percent.
• 15-year fixed-rate mortgages decreased to 4.05 percent from 4.12 percent.
• 1-year ARMs decreased to 7.17 percent from 7.20 percent.
Source: Mortgage Bankers Association (07/21/2010)
30-Year Rates Dip Back Below 5 Percent
Freddie Mac documented a decline in mortgage rates during the week ended March 4, with 30-year fixed home loans slipping to 4.97 percent from 5.05 percent and 15-year interest averaging 4.33 percent.
Also, the Mortgage Bankers Association reported that its index of home loan applications jumped 15 percent during the week ended Feb. 26. Refinancing activity was up 17 percent, and purchase demand rose 9 percent.
Source: Kansas City Star (03/05/10)
© Copyright 2010 Information Inc.
Freddie Mac documented a decline in mortgage rates during the week ended March 4, with 30-year fixed home loans slipping to 4.97 percent from 5.05 percent and 15-year interest averaging 4.33 percent.
Also, the Mortgage Bankers Association reported that its index of home loan applications jumped 15 percent during the week ended Feb. 26. Refinancing activity was up 17 percent, and purchase demand rose 9 percent.
Source: Kansas City Star (03/05/10)
© Copyright 2010 Information Inc.
Citigroup to Ease Foreclosure Process
Citigroup announced Thursday that it will let delinquent home owners who don’t qualify for any federal relief program stay in their homes for six months as long as they turn over the keys and leave the property in good condition when the grace period expires.
The bank estimates that more than 20,000 borrowers in hard-hit states like Michigan, Ohio, Florida, Illinois, Texas, and New Jersey could be eligible.
Citigroup is hoping its plan will prevent borrowers from damaging their homes before they depart, which will save the bank significant repair dollars. The program also allows the company to bypass the slow-moving foreclosure process and gives the bank more control over when it puts properties on the market.
Source: The Washington Post, Renae Merle (02/11/2010)
Citigroup announced Thursday that it will let delinquent home owners who don’t qualify for any federal relief program stay in their homes for six months as long as they turn over the keys and leave the property in good condition when the grace period expires.
The bank estimates that more than 20,000 borrowers in hard-hit states like Michigan, Ohio, Florida, Illinois, Texas, and New Jersey could be eligible.
Citigroup is hoping its plan will prevent borrowers from damaging their homes before they depart, which will save the bank significant repair dollars. The program also allows the company to bypass the slow-moving foreclosure process and gives the bank more control over when it puts properties on the market.
Source: The Washington Post, Renae Merle (02/11/2010)
Fourth Quarter Home Sales Surge 13.9%
Strong gains in existing-home sales were the predominant pattern in most states during the fourth quarter, with many more metro areas seeing prices rise from a year earlier, according to the latest surveyby the NATIONAL ASSOCIATION of REALTORS®.
Sales increased from the third quarter in 48 states and the District of Columbia; 32 states even saw double-digit gains.
Year-over-year sales were higher in 49 states and D.C.; all but three states had double-digit annual increases.
Total state existing-home sales, including single-family and condo, jumped 13.9 percent to a seasonally adjusted annual rateof 6.03 million in the fourth quarter from 5.29 million in the third quarter, and are 27.2 percent above the 4.74 million-unit level in the fourth quarter of 2008.
Distressed property accounted for 32 percent of fourth quarter transactions, down from 37 percent a year earlier.
The Tax Credit Affect
Lawrence Yun, NAR chief economist, said the first-time home buyer tax credit was the dominant factor.
"The surge in home sales was driven by buyers responding strongly to the tax credit combined with record low mortgage interest rates,” he said. “With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by late spring with more areas showing higher prices.”
According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage fell to a record low 4.92 percent in the fourth quarter from 5.16 percent in the third quarter. It was 5.86 percent in the fourth quarter of 2008.
NAR President Vicki Cox Goldersaid near-term market conditions will remain favorable.
“Mortgage interest rates are expected to trend up later this year, but right now we have very good conditions with steadying home prices and favorable inventory in most areas, especially in the higher price ranges,” she said.
Golder said one of the biggest issues now is for repeat buyer who will have to accelerate their buying plans if they want the expanded tax credit. They have to have a contract by the end of April.
Repeat buyers do not have to sell their existing home, but all buyers must occupy the property they purchase as a primary residence to qualify for the tax credit. Buyers who have a contract in place by April 30, 2010, have until June 30, 2010, to finalize the transaction to get a credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.
Single-Family Home Prices
In the fourth quarter, 67 out of 151 metropolitan statistical areas reported higher median existing single-family home prices in comparison with the fourth quarter of 2008, including 16 with double-digit increases; one was unchanged and 84 metros had price declines. In the third quarter, only 30 MSAs showed annual price increases and 123 areas were down.
The national median existing single-family price was $172,900, which is 4.1 percent below the fourth quarter of 2008; the median is where half sold for more and half sold for less.
“This is the smallest price decline in over two years, with the most recent monthly data showing a broad stabilization in home prices,” Yun said. “Because buyers are taking on long-term fixed rate mortgages, avoiding adjustable-rate products, and trying to stay well within their budgets, the price recovery process appears durable."
Markets by Region
Northwest: Regionally, existing-home sales in the Northeast rose 11.1 percent in the fourth quarter to a pace of 1.03 million and are 33.6 percent higher than a year ago. The median existing single-family home price in the Northeast declined 5.6 percent to $234,900 in the fourth quarter from the same quarter in 2008, but with widely varying conditions.
“In the Northeast, markets with lower median prices that have avoided wide swings, such as Buffalo, are generally showing consistent price gains,” Yun said. “Even so, some of the higher cost areas are showing signs of stabilization, such as Nassau-Suffolk, N.Y., and Boston.”
Midwest:In the Midwest, existing-home sales jumped 14.5 percent in the fourth quarter to a pace of 1.38 million and are 29.9 percent above a year ago. The median existing single-family home price in the Midwest rose 1.1 percent to $141,100 in the fourth quarter from the same period in 2008, with the region accounting for the majority of metro areas experiencing double-digit gains.
Yun said markets with high unemployment rates in Ohio and Michigan experienced large price swings. “Big price gains in many Midwestern areas are due to a more normal range of home sales in contrast with predominately foreclosed sales a year ago,” he said.
South:In the South, existing-home sales rose 13.8 percent in the fourth quarter to an annual rate of 2.23 million and are 28.2 percent higher than the fourth quarter of 2008. The median existing single-family home price in the South was $153,000 in the fourth quarter, down 2.4 percent from a year earlier.
“Affordable markets in the South that have relatively better local economies are seeing healthy price gains, such as Houston, Oklahoma City and Shreveport, La.,” Yun said.
West:Existing-home sales in the West jumped 16.2 percent in the fourth quarter to an annual rate of 1.38 million and are 18.2 percent above a year ago. The median existing single-family home price in the West was $227,200 in the fourth quarter, which is 8.9 percent below the fourth quarter of 2008, but with many areas showing notable gains.
“Markets in the West such as San Francisco, San Jose, and Denver are showing double-digit price increases, and other markets like San Diego and Anaheim have begun to firm up,” Yun said.
A Closer Look at the Condo Market
Metro area condominium and cooperative prices – covering changes in 54 metro areas – showed the national median existing-condo price was $177,300 in the fourth quarter, down 4.8 percent from the fourth quarter of 2008.
Eleven metros showed increases in the median condo price from a year earlier and 43 areas had declines. In the third quarter, only four metros experienced annual price gains.
Source: NAR
Strong gains in existing-home sales were the predominant pattern in most states during the fourth quarter, with many more metro areas seeing prices rise from a year earlier, according to the latest surveyby the NATIONAL ASSOCIATION of REALTORS®.
Sales increased from the third quarter in 48 states and the District of Columbia; 32 states even saw double-digit gains.
Year-over-year sales were higher in 49 states and D.C.; all but three states had double-digit annual increases.
Total state existing-home sales, including single-family and condo, jumped 13.9 percent to a seasonally adjusted annual rateof 6.03 million in the fourth quarter from 5.29 million in the third quarter, and are 27.2 percent above the 4.74 million-unit level in the fourth quarter of 2008.
Distressed property accounted for 32 percent of fourth quarter transactions, down from 37 percent a year earlier.
The Tax Credit Affect
Lawrence Yun, NAR chief economist, said the first-time home buyer tax credit was the dominant factor.
"The surge in home sales was driven by buyers responding strongly to the tax credit combined with record low mortgage interest rates,” he said. “With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by late spring with more areas showing higher prices.”
According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage fell to a record low 4.92 percent in the fourth quarter from 5.16 percent in the third quarter. It was 5.86 percent in the fourth quarter of 2008.
NAR President Vicki Cox Goldersaid near-term market conditions will remain favorable.
“Mortgage interest rates are expected to trend up later this year, but right now we have very good conditions with steadying home prices and favorable inventory in most areas, especially in the higher price ranges,” she said.
Golder said one of the biggest issues now is for repeat buyer who will have to accelerate their buying plans if they want the expanded tax credit. They have to have a contract by the end of April.
Repeat buyers do not have to sell their existing home, but all buyers must occupy the property they purchase as a primary residence to qualify for the tax credit. Buyers who have a contract in place by April 30, 2010, have until June 30, 2010, to finalize the transaction to get a credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.
Single-Family Home Prices
In the fourth quarter, 67 out of 151 metropolitan statistical areas reported higher median existing single-family home prices in comparison with the fourth quarter of 2008, including 16 with double-digit increases; one was unchanged and 84 metros had price declines. In the third quarter, only 30 MSAs showed annual price increases and 123 areas were down.
The national median existing single-family price was $172,900, which is 4.1 percent below the fourth quarter of 2008; the median is where half sold for more and half sold for less.
“This is the smallest price decline in over two years, with the most recent monthly data showing a broad stabilization in home prices,” Yun said. “Because buyers are taking on long-term fixed rate mortgages, avoiding adjustable-rate products, and trying to stay well within their budgets, the price recovery process appears durable."
Markets by Region
Northwest: Regionally, existing-home sales in the Northeast rose 11.1 percent in the fourth quarter to a pace of 1.03 million and are 33.6 percent higher than a year ago. The median existing single-family home price in the Northeast declined 5.6 percent to $234,900 in the fourth quarter from the same quarter in 2008, but with widely varying conditions.
“In the Northeast, markets with lower median prices that have avoided wide swings, such as Buffalo, are generally showing consistent price gains,” Yun said. “Even so, some of the higher cost areas are showing signs of stabilization, such as Nassau-Suffolk, N.Y., and Boston.”
Midwest:In the Midwest, existing-home sales jumped 14.5 percent in the fourth quarter to a pace of 1.38 million and are 29.9 percent above a year ago. The median existing single-family home price in the Midwest rose 1.1 percent to $141,100 in the fourth quarter from the same period in 2008, with the region accounting for the majority of metro areas experiencing double-digit gains.
Yun said markets with high unemployment rates in Ohio and Michigan experienced large price swings. “Big price gains in many Midwestern areas are due to a more normal range of home sales in contrast with predominately foreclosed sales a year ago,” he said.
South:In the South, existing-home sales rose 13.8 percent in the fourth quarter to an annual rate of 2.23 million and are 28.2 percent higher than the fourth quarter of 2008. The median existing single-family home price in the South was $153,000 in the fourth quarter, down 2.4 percent from a year earlier.
“Affordable markets in the South that have relatively better local economies are seeing healthy price gains, such as Houston, Oklahoma City and Shreveport, La.,” Yun said.
West:Existing-home sales in the West jumped 16.2 percent in the fourth quarter to an annual rate of 1.38 million and are 18.2 percent above a year ago. The median existing single-family home price in the West was $227,200 in the fourth quarter, which is 8.9 percent below the fourth quarter of 2008, but with many areas showing notable gains.
“Markets in the West such as San Francisco, San Jose, and Denver are showing double-digit price increases, and other markets like San Diego and Anaheim have begun to firm up,” Yun said.
A Closer Look at the Condo Market
Metro area condominium and cooperative prices – covering changes in 54 metro areas – showed the national median existing-condo price was $177,300 in the fourth quarter, down 4.8 percent from the fourth quarter of 2008.
Eleven metros showed increases in the median condo price from a year earlier and 43 areas had declines. In the third quarter, only four metros experienced annual price gains.
Source: NAR
We have received feedback that many of you are not able to make out your subdivision on the map that was provided in the e-mail that was sent out earlier today. We do not have a map with street names at this time; however, below is a listing of neighborhoods that are under consideration for Attendance Boundary Modification.
If your neighborhood is NOT listed below, then you are NOT under consideration for Attendance Boundary Modification.
- LUZ 66 Highland Trails
- LUZ 66 Kelliwood Enclave
- LUZ 66 Kelliwood Gardens
- LUZ 66 Kelliwood Lakes
- LUZ 66 Kelliwood Place
- LUZ 66 Kelliwood Trails
- LUZ 66 Lake Forest
- LUZ 66 Lakes of Buckingham
- LUZ 71A Alexan Downs Apart.
- LUZ 71A Kelliwood Pointe
- LUZ 71A Kelliwood Terrace
- LUZ 71A Willow Park Greens
- LUZ 71B Meadow Ridge
- LUZ 71C Park Hollow
- LUZ 71C Park View
- LUZ 76C Bayou Crossing
- LUZ 77A Fairways at Kelliwood
- LUZ 77A Greens at Willowfork
- LUZ 77A Kelliwood Greens
- LUZ 77B Arbor at Willow Fork
- LUZ 79B Canterbury Village
- LUZ 79B Meadow Glen
- LUZ 79B Residences at Cinco Ranch
- LUZ 79B South Park
- LUZ 79B Summer Point
- LUZ 79C Canyon Gate
- LUZ 79D Estates at Willowfork Greens
- LUZ 79D Kelliwood Greens
- LUZ 79D Kelliwood Park
- LUZ 79F Saddlebrook Crossing
- LUZ 79G Park Trace
Attendance Boundary Modification
It has come to our attention that there are several rumors running rampant through the community regarding the ABM. These rumors are inaccurate and we regret the unnecessary stress these rumors are causing some of our district families. Modifying attendance boundaries is a sensitive issue and accurate information is essential. We would like to take this time to address some of these rumors:
Rumor 1) An e-mail is currently circulating in the community stating that all of the neighborhoods under consideration for ABM will be attending Taylor High School next year.
FACT: The map below indicates in yellow which neighborhoods are under consideration for ABM at this time. While the ABM recommendation to be discussed has some neighborhoods currently attending Cinco Ranch High moving to Taylor High School next year, the district has not considered moving any neighborhoods from Seven Lakes to Taylor. The district is, however, considering moving some neighborhoods from Seven Lakes to Cinco Ranch.
Rumor 2) It has also been circulating in the community that high school students who may be moved from their current high school to another and participate in athletics may need to sit out one year for eligibility per UIL rules.
FACT: UIL eligibility will not be an issue. In fact, the district has been studying scenarios resulting in the least disruption to students. It is anticipated that current high school students will remain unaffected by the ABM. In other words, students currently in the 9th - 11th grades will stay at their current high school until graduation. In addition, families with younger siblings will have the opportunity to attend the same high school as the older sibling, as long as they both attend at the same time.
Living in a fast growth district comes with many opportunities, and some challenges as well. We understand that with an issue as emotionally charged as ABM, there are those who will take advantage of the situation and use it as an opportunity to spread misinformation. Unfortunately, this does nothing but cause anxiety in the community. Thank you for looking to us for accurate information and please continue to send e-mails to communications@katyisd.org so that we can have the opportunity to address these rumors and help separate fact from fiction.
Texas Department of Insurance
FOR IMMEDIATE RELEASE
January 6, 2010
News Release
Avoid Home Damage from Frozen Pipes
Texas weather can change quickly, especially in the winter. A fast-moving cold front can cause temperatures to drop below freezing within hours. Outdoor pipes, pipes in unheated areas, and pipes that run along uninsulated exterior walls can burst if the water in them freezes and expands. This can shatter pipe seals or the pipes themselves, sending water pouring through your house. You can avoid thousands of dollars of damage to your walls, ceilings, carpets, and furniture by taking a few simple measures to protect your home.
Before the Freeze
· Protect faucets, outdoor pipes, and exposed pipes in unheated areas by wrapping them with rags, newspaper, trash bags, or plastic foam.
· Insulate your outdoor water meter box and be sure its lid is on tight.
· Cover any vents around your home’s foundation.
· Drain and store water hoses indoors.
· Protect outdoor electrical pumps.
· Drain swimming pool circulation systems or keep the pump motor running. (Run the pump motor only in a short freeze. Running the motor for long periods could damage it.)
· Drain water sprinkler supply lines.
· Open the cabinets under sinks in your kitchen and bathrooms to allow heated indoor air to circulate around the water pipes.
· Set your thermostat at a minimum temperature of 55 degrees, especially when you’re gone for the day or away for an extended period.
· Let indoor faucets drip; it isn't necessary to run a stream of water.
· Make sure you know where your home’s shut-off valve is and how to turn it on and off.
· If you leave town, consider turning off your water at the shut-off valve while faucets are running to drain your pipes. Make sure you turn the faucets off before you turn the shut-off valve back on.
· If you drain your pipes, contact your electric or gas utility company for instructions on protecting your water heater.
If Your Pipes Freeze
· If a pipe bursts and floods your home, turn the water off at the shut-off valve. Call a plumber for help if you can’t find the broken pipe or if it’s inaccessible. Don’t turn the water back on until the pipe has been repaired.
· If the pipe hasn’t burst, thaw it out with an electric heating pad, hair dryer, portable space heater, or towel soaked with hot water. Apply heat by slowly moving the heat source toward the coldest spot on the pipe. Never concentrate heat in one spot because cracking ice can shatter a pipe. Turn the faucet on and let it run until the pipe is thawed and water pressure returns to normal.
· Don’t use a blowtorch or other open-flame device. They are fire risks and carbon monoxide exposure risks.
If You Have a Loss
· Contact your insurance agent or company promptly. Follow up as soon as possible with a written claim to protect your rights under Texas’ prompt-payment law.
· Review your coverage. Most homeowners and renters policies pay for property repair. In addition, most policies pay for debris removal and for additional living expenses if you have to move temporarily because of damage to your home. If you can’t find your policy, ask your agent or company for a copy.
· Homeowners policies may require you to make temporary repairs to protect your property from further damage. Your policy covers the cost of these repairs. Keep all receipts and damaged property for the adjuster to inspect. If possible, take photos or videos of the damage before making repairs. Don’t make permanent repairs. An insurance company may deny a claim if you make permanent repairs before an adjuster inspects the damage.
· Most homeowners policies do not cover loss caused by freezing pipes while your house is unoccupied unless you used reasonable care to maintain heat in the building; shut off the water supply; and drain water from plumbing, heating, and air conditioning systems.
Questions?
If you have questions about insurance, call TDI’s Consumer Help Line toll-free: 1-800-252-3439
or visit the TDI website: www.tdi.state.tx.us. Assistance is available in both English and Spanish.
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