I read an article quoting a loan officer in the Chron a couple days ago who focused on the difficulties that would be experienced closing loans during this period after the storm and how appraisers would be looking harder at homes for possible damage. Sure, appraisers came back to all our homes in title and made sure there was no apparent damage and that the utilities are back on, but so far it hasn’t killed any deals. We had one lender pull out of a very affordable home loan with a down payment assistance program for a very needy buyer right after the storm. That was a huge disappointment to the buyer and to the agent who had worked so hard on getting the buyer approved. I hope she’ll save a little more and pay off a little more debt and try again in 3 months. We will get through this and I think there are some bright spots on the horizon for real estate in Houston. After all, the current woes of the mortgage industry are not due to the failure of good borrowers or good lending practices. Anyone in Houston who’s in the know will tell you the foreclosures we have are almost entirely due to fraudulent buyers and poor lending practices. I’m assuring all my sellers we still have plenty of clients with good jobs and a little savings who can qualify for a loan. Of course, the days of the no doc and stated income loans are gone at least for a while. Everyone loved those, including me, even if you didn’t need them. Expect some great news about FHA limits going way higher in October and don’t let the hyped bad press about housing get you down. Houston is still doing great compared to the rest of the country.
A friend who was going out just before curfew Friday night texted me that there were police all over the place. Indeed the Houston Heights Association President and several media sources reported that police were working extra shifts and that 100 officers from outside Houston area were in town. Heights Association President Mark Williamson reported, “Central Division has experienced no major crime-related problems, and their response time to high priority calls is under a minute. Officers are on 12-hour shifts and patrolling the streets of the neighborhood.” As many of you know, crime has been a major concern for me. My husband always buys police officers their meal when he sees them out at restaurants. No big deal, he just tells the waiter when we check out to put the officers meal on our ticket too. A lot of times we’re out the door before they even know their meal is paid for by a appreciative citizen. Bob does this because he says that they do the job he would never want to do. I come from a long line of cops and I really don’t feel so adverse to the job. I’ve never been in law enforcement of course, I’m a real estate broker, but there are times when I get so frustrated with crimes against both businesses and homes I want to do something. That’s why I’ve been gathering names of supporters for constable programs in several neighborhoods near me. Outside of crazy times like these our police are stretched way too thin and response times can be much longer than a minute. The city needs a major campaign to attract more officers. The District H council person isn’t the police chief but as a city council person, I’d make enhancing our police department a major focus.
Houston has proven it can take a hit below the belt and come back swinging. Despite large areas that still don’t have power, the clean up is progressing at a fast pace thanks largely to neighbors working hard in their own yards and of course, the COH Solid Waste Management Department. Boy was I glad to see my garbage truck driver on Monday, not so much because I had a lot of garbage but because Monday was my NORMAL garbage pick up day. After Ike, anything normal is welcomed. Today I saw Jim Bennett, Houston Heights Association Boulevard Chair, out surveying the damage to Heights Boulevard and the jogging trail and I know I’ll get an e-mail soon for volunteers to start work there. Minutes later, just around the corner I passed Angela Dewree who has volunteered many hours surveying the Heights trees. Having just driven past so many downed huge and lovely Heights trees I could barely look at her, knowing her passion for keeping the Heights forested. I have no doubt these volunteers are itching to get started with the recovery even as I type. Volunteers like these all over District H will get us all back to normal very soon I’m sure.
The power outages are proving to be our most challenging problem on the road to recovery. State Rep. Sylvester Turner suggested that citizens should be more prepared with individual generators but surely there are other answers we need to explore. I think in the coming months, with fuel and energy costs so high, more alternatives for power will come to market that are affordable and easy to implement. The answer to power outages of the future may well lie in more self sufficient homes and a city diversified in its power sources. Wider use of tax incentives for alternative energy and greener homes are of keen interest to me. I look forward to exploring options for both individual homeowners, businesses and the City itself as it competes for fuel and power in the marketplace.
Well, as I hunker down in the Heights, I remember 2005 when we were awaiting Rita. Ike already is a different story. In 2005 my elderly mother was being evacuated by bus and I heard on the news about the bus of elderly that caught fire and burned. It was heart breaking but I was lucky it was not my Mom’s bus. I heard from my friend Sandra Ross just a moment ago that the freeways this time were much better and I’m glad for that. Mother’s not with us any more to weather hurricanes so we’re not quite as pensive this year. However we’re far from having a hurricane party. My friend Robert Zahn and his partner are here with us, up from Galveston and things are looking very grim for our beloved Galveston. About half the Karen Derr and Associates agents on Galveston left and we’re worried to death about the other half. I hope they changed their mind about staying and got out earlier today. However, we have only heard from two who are still there. Everybody say a prayer and stay safe.
I guess I’ve been known for my real estate brokerage company for so long now, my friends cannot imagine me pulling back from real estate. My company is now almost 15 years old. Many people have asked what will happen to my real estate business and how will I make time to run for public office and serve when elected. Many effective City Council persons have other businesses but when I’m elected I will have to change priorities. My constituents will come first. My family business will be in the capable hands of my husband Robert Derr, my longtime assistant Carli Mosier and my good friends and associates at Karen Derr Realty, including Bill Baldwin and my sister Paula Collins, who have encouraged me and pledged to make my transition into public life as smooth as possible. After I’m elected I’ll make sure my clients are well taken care of and the citizens of Houston will have a full time council person. Karen Derr and Associates Realty will carry on as the same great company it has always been; one of the top 25 residential firms in the city. But let’s not put the cart before the horse. I’ve got work to do and come November, if all goes well, a race to win. If you know anything about me, you know I’ll work hard to rise to the challenge.
Yes… the rumors are true! I’m running for Houston City Council! The timing seems perfect and I’ve never been more ready or able to serve.