HUD is changing its rules to allow investors to purchase homes with FHA loans, fix them, and sell them by waiving the requirement to hold property 90 days.

These sales will be allowed for 1 year from Frebuary 1, 2010 unless extended further.  They will only by allowed under strict guidelines including:

See the HUD web site for Details.

Once again hurricane season is upon us.  We now have a named storm Alex about to pass into the gulf as I write this blog.  While most experts appear to believe it will hit the coast of Mexico those of us native to the gulf coast know that until it actually makes landfall that its track is not necessarily set and this storm acts as a reminder that now is the time to prepare if you have not done so already.

In my office and at home we are reviewing our plans including evacuation plans.  This has normally means determining what items we will pack, where they are located, where we will go, and insuring our company equipment and data necessary for operations is made safe.  During Ike our offices had to relocate to Dallas and yet we were more than able to assist our clients as if we never went out of business.  I believe we are more ready this year, but I hope not to have to find out.

I have prepared information and links in an article you can find by clicking <<HERE>> based upon information I collected during last years season which should assist you in your preparations.  I have edited the links section and I believe they are all functional and appear to be current.  This information includes a downloadable version of the page which you can print and take with you.

There have been several articales out lately that the Energy Star Rating System may be flawed and that appliances are being accepted under the program which do not really meet intended guidelines.

Check out this article in Market Watch for more information.

I was watching Fox News this morning and saw this clip on modular home construction:

http://liveshots.blogs.foxnews.com/2010/06/16/modular-success-home-building/

I have a couple of friends who have either built or are going to build homes based upon this concept here in Texas.  From what I can tell they are a good alternative in many cases to stick built.  This is especially true for the people I know considering them where they wish to build in a very rural setting where it is costly and difficult to find quality contractors.  I do not agree completely with the builder interviewed when he states the stick construction can be a higher quality product.  While this may the case for a true custom construction we see very little of that.  The majority of the market is not true custom and it should be possible to build these homes with a much higher quality.

It will be very interesting to see where this trend goes.  I think we will see it grow as energy efficiency and costs of construction continue to be growing concerns.

The recall includes Maytag®, Amana®, Jenn-Air®, Admiral®, Magic Chef®, Performa by Maytag® and Crosley® brand dishwashers with plastic tubs and certain serial numbers. The affected dishwashers were manufactured with black, bisque, white, silver and stainless steel front panels. The brand name is printed on the front of the dishwasher. The model and serial numbers are printed on a label located inside the plastic tub on a tag near the left side of the door opening.  Visit the Maytag site to obtain further information.

or

Visit the CPSC Web Site

It is getting dry in Houston. In many places the soil is expansive and can be seen separating from foundations as it drys and shrinks. This is a precursor to foundation settlement. If you have not started watering your foundation now is the time. Check out our foundation care document and recommendations for root wall.

2003 CODE WORDS
Effective Immediately

The City of Houston publishes an interpretation document referred to as CODE WORDS to provide a single source of written interpretations, policies, procedures and information to aid in the successful administration of the Construction Codes and City ordinances and to promote consistent, uniform practices.

The 2003 Code Words were approved on March 31, 2010 and replace the 1997 Code Words.

The 2003 Code Words are Available Online

Click Here to Download http://documents.publicworks.houstontx.gov/documents/divisions/planning/enforcement/2003_code_words.pdf

Check out the Offical Texas trade up appliance rebate program:

Energy efficiency is Powerful Smart. And Texans want to know all about it. How can I save money and waste less?
Where can I go for rebates and incentives? - the state’s official site for Powerful answers.

Beginning next month (April 22), federal law will require that contractors performing renovation, repair and painting projects that disturb paint in homes, child care facilities, and schools built before 1978 must be certified in the new EPA Renovation, Repair and Painting Rule (RRP) and follow specific work practices to reduce human exposures to lead.

Think should make renovations much more expensive, more difficult, and probably will result in fewer contractors capable of doing the work.

Click Here [The EPA web site has more information]

April could mean substantial rebates for Texas residents looking to replace certain older appliances with new ENERGY STAR-rated appliances. The state of Texas received more than $23 million from the U.S. Department of Energy to establish an Energy Efficient Appliance Rebate Program, the first of its kind in Texas.

Check this link for a flyer on the details.