You may have noticed I have not written in a while. Well I am back after a 3 week sabbatical (wishing the excuse was vacation!) . The great news today is that everyone wants a piece of these rates! So if your pipelines have not begun to increase, they will. Remember, that the deadline for the First Time Homebuyer Tax Credit of $8,000 is Dec 1, 2009. Also….the premonition is that within 12 – 18 months, inflation will set in. Who knows where rates will go then? Our 4-5% mortgages may look really good by then. Cocktail party conversation!
Let me get the statement over with. Yes, parts of Houston are feeling the results of some minor devaluation. How could we not, with the other 49 states feeling such drastic effects? The mentality of the consumer has surely been tainted. BUT I WOULD LIKE TO POINT OUT SOME REAL, POSITIVE FACTS about why your clients should be buying now! Other than the obvious- interest rates. We must invest in our economy, if we are to turn things around.
In Houston:
Housing is Solid, with an average of 6 months supply - a healthy market! (Metro Study, Q3, 2008)
Is the #1 best city to buy a home , as rated by Forbes Magazine, August 2008,
Ranks #1 for Job Growth in the Nation - 17% of the entire country!!!!!!!!!!!!!!
Largest IT Service Economy (Onforce, Inc, December 5, 2008)
America's Best Hospitals (US News& World Report , July 2008)
Best Big City for Business (Inc.com , July 2008)
We are survivors! Think about our recovery from Allison, Enron, and recently Ike.
Patriot Bank is growing right with Houston. We are the 5th Largest Bank domiciled within the city (and we are only 5 years old!). We are THE LARGEST privately owned bank within the city. Our total assets are currently at just over 1 Billion dollars. The most important aspect of our bank, in my opinion, is that our Total Equity Capital is 12%, where our peers are at 9%. And 6% is the minimum government requirement. That is awesome, and secure!
