There is great light in the spacious living/dining area with large windows overlooking the front yard and a wall of glass overlooking the covered patio and back garden with its beautiful pond and waterfall.

The owners have made several mechanical updates to this home, and their pride of ownership shows.

Please click on 6 Cedar Lawn Circle to see the photos and listing information, and please contact me if you have any questions. 

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 Downstairs, the huge living area provides Gulf views, a fireplace, and built-in cabinetry, and is very open to the kitchen and dining areas. Also downstairs are two bedrooms and one bathroom.

 Up the stairs with its aluminum railings is a large loft area. Currently used for extra sleeping, it would make a great den or study. The spacious master bedroom is also upstairs and has its own door to the upstairs deck and great Gulf views.

 The living space is extended outside by the three decks (including one with a hot tub) and the downstairs covered patio. A successful rental, this home is being conveyed fully furnished.  This home is conveniently located in Pirates Beach.

 Please click on 4223 Sandpiper to see the listing information and photos, and please call if you have any questions about this premier beach home.

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Mortgage market update from Chris Nooney at First Choice Loan Services:

INFO THAT HITS US WHERE WE LIVE… That’s a good thought as we watch the housing market, once doomed to failure, turn into a more successful enterprise. A national online real estate site surveyed more than 100 professional forecasters — economists, real estate experts, and investment and market strategists. They see growing optimism in the housing market, expecting home prices to rise 3.1% in 2013, after ending 2012 UP more than 4.6%. The site’s chief economist commented, “An organic recovery in the housing market really took hold in the latter half of 2012.”

He added: “Record levels of affordability and an improving overall economic picture… have us well positioned for continued growth, albeit slightly slower, in 2013 and beyond.” Case-Shiller’s chief economist offered, “It is clear the housing recovery is gathering strength… that housing is now contributing to the economy.” Finally, in their latest forecast, Fannie Mae economists expect 2013 existing home sales UP 9.6%, new home sales UP 19.5%, and rates on 30-year fixed-rate mortgages to stay near historical lows.

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UNCERTAINTY TAKES ITS TOLL… There are just two weeks to go for politicians to broker a deal to stop the country from going over a fiscal cliff of draconian tax hikes and spending cuts. Unfortunately, Washington isn’t proceeding with much urgency. Investors reacted poorly to the uncertainty as all three major stock indexes slipped for the week. Not helping things, the economic data was mixed, as inflation cooled and Industrial Production beat expectations, but Retail Sales missed consensus targets.

The big news came out of the Fed meeting on Wednesday. The Fed Funds Rate wasn’t touched, but the FOMC Committee announced it would now keep the Rate at these super low levels as long as unemployment stays above 6.5%. Most economists think that will be a very long time. To support this policy, once the current “Operation Twist” bond buying program ends, the Fed will start purchasing $45 billion worth of Treasuries each month, indefinitely.

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It is time once a year for Dickens on the Strand, The Galveston Historical Foundation’s tribute to Charles Dicken’s.  This year GHF is celebrating the 200th anniversary of of the birth of Charles Dickens by hosting the world record birthday card signing.

The festivities are Saturday, December 1 from 10 am until 9 pm, and Sunday, December 2, from 10 am to 6 pm.

Dickens on the Strand is GHF’s biggest fundraiser each year.

Click on Dickens on the Strand for more details and to buy tickets.

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INFO THAT HITS US WHERE WE LIVE… We may not be standing in the middle of a fully recovered housing market, but we’re clearly moving in that direction. Existing Home Sales were UP 2.1% in October, staying right near their highest level in over two years. Sales are up 10.9% from a year ago. The median price is now $178,600, up 11.1% over a year ago. And the supply of existing homes dropped from 5.6 to 5.4 months. The inventory of existing homes is down to 2.14 million, the lowest level since December 2002.

Anyone who still thinks the housing market isn’t in recovery had only to look at October Housing Starts, which grew 3.6% to an annual rate of 894,000 units. Multi-family starts were up 11.9% and are up 57.1% versus a year ago. Single-family starts dropped 0.2% for the month, but are up 35.3% over a year ago. Building permits dropped slightly in October, but are up 26.6% for single family and up 36.3% for multi-family units versus last year. Not surprisingly, the NAHB Homebuilders confidence index rose to its highest level in six years.

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Investors are seizing the opportunity to invest in Home Depot, the home improvement retailer who’s seizing the opportunities presented by this still young housing recovery. Home Depot just posted adjusted Q3 earnings of 74 cents a share, up 23% from a year ago, evidence there’s a growing number of homeowners sinking money into their properties. Other facts back this up. The U.S. homeowner vacancy rate fell to 1.9% in Q3, a seven-year low. Many feel this signals that the economy has worked off most of the excess housing that had been built.

This better balance in the housing market is boosting home prices and builder confidence. Housing starts are up, as well as construction jobs, following a four-year slump. No wonder investors are bidding up stocks throughout the home improvement sector, including Masco, Whirlpool, Sherwin-Williams, and Home Depot’s competitor Lowe’s. Finally, Realtor.com reports October inventory at 1.76 million units, down 17% from a year ago and 40% below the September 2007 peak. In uncertain times, there’s no place like home.

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INFO THAT HITS US WHERE WE LIVE… home prices and home sales both posted strong annual growth in the third quarter, according to the National Association of Realtors (NAR). The national median existing single-family home price was UP 7.6% versus a year ago, the best year-over-year quarterly price boost since Q1 of 2006 when prices were up 9.4%. And existing home sales were UP 10.3% over Q3 last year, to a 4.68 million annual rate.

The NAR’s chief economist said rising prices and tight inventory indicate the housing recovery is settling in. He added, “We expect fairly normal appreciation patterns in 2013, but there is a risk of price acceleration if builders are unable to meet the needs of our growing population and household formation.” The Mortgage Bankers Association forecasts purchase loan originations will be UP 16% next year. They expect this will come from growth in new home sales, modest home price gains, and more financed, owner-occupied sales.

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This event, sponsored by the Galveston Restaurant Association, features food prepared by it smembers.  Come prepared to eat!!

Tickets must be purchased in advance at www.EpicureanEvening.com or by phone qat 409-763-8680.

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Featured in Houston Home & Garden (2007) and on the Bombay Company catalogue cover (2004), this large beautiful space features hardwoods, brick walls, tall ceilings, and gorgeous tall arched windows. 

There is also a storage locker downstairs and two covered parking spaces just by the side door of the building and behind the gates. The downstairs study area could be a second sleeping area.

 Please click on the  525 Kempner, No. 7 to see the listing information and photos, and please call is you have any questions about this premier loft.

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