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real estate: Great Rates + Declining Values = No Refi for You. Maybe Not. - 03/10/09 11:38 AM
This great info was shared with us by Tera Gilbert of Wells Fargo Mortgage.
Great Rates + Declining Values = No Refi for You. Maybe Not.While interest rates have been at levels not seen in generations, not everyone has been able to benefit. As home values have come down across the country millions of homeowners have been unable to refinance.
When applying for a home loan, one key component in underwriting is the amount of equity or down payment in the transaction. As home values have declined, even in some cases where someone put a sizable down payment into the purchase … (0 comments)
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real estate: Texas is the Most Popular State to Move To - 01/29/09 09:24 AM
Texas still most popular "moving-to" state
For the fourth straight year, Texas is the top state Americans are moving to, according to Allied Van Lines, which annually tracks US migration patterns. Texas had the highest net relocation gain (inbound moves minus outbound moves performed by Allied Van Lines) of 1,903 in 2008.
"With the continued job growth we're seeing in major cities like Dallas and Houston, and very affordable home prices statewide, Texas is still the place to be," says Brooke Hunt, 2009 chairman of the Texas Association of Realtors (TAR).
Texas' 9,879 total Allied shipments (inbound and outbound moves) … (0 comments)
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real estate: It's Not Just About the Money - 01/07/09 12:41 PM
Now is the time to buy! There are more homes on the market in the Austin area than ever before and interest rates are at a near 45 year low. I just got quoted 4.75% from my lender!
Austin has avoided the spiraling downward of real estate values due to our projected job growth and low unemployment rates and all signs say it will stay that way. All the financial guru's say that you make your money when you buy your new home, not when you sell. That means, buying in a buyer's market ... today! As a buyer, you … (1 comments)
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real estate: Movin' on Up - 12/30/08 07:22 AM
Census bureau shows Texas economy attracting droves
More people are moving to Texas from other states than from other countries as the state's relatively strong employment base attracts families struggling with foreclosures and layoffs elsewhere, the Census Bureau reported in late December.
Between July 2007 and July 1, 2008, nearly 141,000 people moved to Texas from other states, compared with about 92,000 international migrants, the bureau said.
The data provide a fresh indicator of how longstanding immigration patterns into Texas are changing.
In the early years of this decade, international migration into Texas was two to three times as great as … (1 comments)
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real estate: The Reality of a 4.5% Interest Rate - 12/17/08 02:49 PM
Courtesy of Cameron Breed, SWBC Mortgage
While the mortgage market continues to generate a lot of chatter in boththe media and in Washington, interest rates are currently near or atall-time lows. If you or anyone you know are looking to take advantage ofthese low rates, let me explain why now is the time to act.
Lately there has been talk about the 4.5% 30-year fixed rate mortgage. Willit become a reality though? Right now, no one really knows. Homeowners whocould benefit from a lower interest rate need to know that even if 4.5%becomes a reality from Washington's actions, it would only … (0 comments)
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real estate: Thinking About Remodeling? These Projects Generate the Highest Returns! - 12/08/08 09:51 AM
Remodeling Projects With the Highest Returns
For the second year in a row, REALTORS® report that exterior remodeling projects return the most money as a percentage of cost, as detailed in the 2008 Remodeling Cost vs. Value Report. On a national level, wood deck additions and all types of siding replacements-upscale fiber cement, midrange vinyl, and upscale foam-backed vinyl-returned more than 80 percent of project costs upon resale. Of these, the most profitable project was upscale fiber cement siding, which recouped 86.7 percent of costs, followed by wood decks at 81.8 percent, midrange vinyl siding at 80.7 percent, and upscale … (0 comments)
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real estate: The Best Bang for Your Buck! - 10/23/08 09:39 AM
Once again, Austin and our close neighbor to the south, San Antonio, are leading lists for the best cities to live in and buy real estate. Named by Forbes.com as the leading cities to get the "most bang for your buck," you can read the entire article here: http://realestate.yahoo.com/promo/best-and-worst-bang-for-the-buck-cities.html
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real estate: Mortgage Update! - 09/16/08 12:33 PM
With the government taking over Fannie Mae and Freddie Mac, rates are finally nicely under 6% for many homeowners and it's been some time since we've seen that. No one can fully predict how long it will last either and many companies offer a free float-down option so there's no excuse for homeowners not to lock in now and protect what's happening in the industry to their benefit.
Also, most homeowners who haven't owned a home in 3 years will qualify for a tax credit of $7,500 so remember even if a seller won't go down to as low of an offer as you had hoped, … (0 comments)
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real estate: Faster Recovery! - 08/19/08 01:52 PM
Economist: Austin will recover faster than the rest of the U.S.
Austin Business Journal - by Jean Kwon ABJ Staff
In the coming year Austin will outperform the rest of the country in job growth and in the health of its housing market, according to Mark Dotzour, chief economist at Texas A&M University's Real Estate Center.
Austin will add 8,500 new jobs between now and August 2009, despite a negative job growth across the country, he says. The local housing market will turn around faster than the rest of the country by next summer, Dotzour predicts.
In the meantime there will … (0 comments)
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real estate: Round Rock Voted Tops By CNN Money - 08/06/08 01:41 PM
CNN Money's review of Round Rock as well--Top 10 Places to Live in 2008 7. Round Rock, TX
Source: CNNmoney.com
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real estate: Austin Ranked #2 by Forbes! - 07/29/08 09:49 AM
Austin has been ranked as the #2 best city to buy a home by Forbes! Rounding out the top 10 are Atlanta, Jacksonville, San Francisco, Charlotte, Dallas, San Antonio, Philidelphia, St. Louis and Houston. Way to go Texas!
To view the complete article click here:http://www.forbes.com/2008/07/14/housing-buyers-list-forbeslife-cx_md_0714bestbuy_slide.html?partner=email
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real estate: Austin Population Growth - 07/01/08 12:15 PM
Below is an interesting map showing the areas of Austin that are supposed to have the most growth over the next decade. As you can see, most of the areas are more suburban and do have quite a bit of new home construction in progress.
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real estate: Hot Dinner Spots in Austin - 06/04/08 03:30 PM
Ever wonder where to find the hot new dinner spot in Austin?? Check out this great message board, so you're not left out of the know and bored with the same old spots.
Click here to see where you should make your dinner plans tonight!!
Check out our website at www.jkbrealty.com to search for your next home in the Austin area or set up a custmized search, emailed to you every time a new property hits the market that meets your criteria!!
Looking for a condo?? We have tons of valuable information and free reports...all you have to do … (0 comments)
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real estate: 3 Places to Find Money for a Downpayment - 02/27/08 11:34 AM
We all know lending guidelines are tightening and 100% financing is pretty much a thing of the past. Also, since the Feds announced their most recent rate cut last week and an additional cute expected in the next 30 days, lenders are saying not only do need a downpayment, but your loan approval is going to based on your credit score. For some of you out there, so what right? Boutique loans come and go. But, for many buyers these new guidelines will eliminate their chance of buying a home. So, what can you do?
Click here to see three ways to … (2 comments)
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real estate: Austin Housing Market Still Thriving!! - 02/13/08 11:17 AM
Austin continues to be on all the top economists' Top 10 Best Performing markets in the country. At #7 in the country, the Austin-Round Rock Metroplex is still enjoying a 9% average appreciation rate, approximately 50,000 new Austinites in 2007 and one of the lowest unemployment rates in the country.
With builders cutting back as a result of the hit they are taking in other states and the high number of new members in our community, rental rates are primed to increase and the rental shortages we experienced in the late ‘90's are on their way back.
Meaning, buy, buy, buy … (0 comments)
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real estate: Credit Score Primer: What Buyers Need to Know - 01/03/08 10:15 AM
The article below gives the basic 411 on credit scores, but most people don't understand the financial implication your score makes on a home purchase. For example, the difference between a 680 credit score and a 650 is more that just 30 points. That difference can increase your interest rate .25%. On the average $250K home in Austin over a 30 year loan, it could cost you an extra $36,500 due to those 30 points. That $36,500 could have helped you shave off just over 2 years of your loan.
Another penalty caused by that 30 point swing is that the … (6 comments)
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real estate: Absorption Rate Key to Successful Pricing - 12/03/07 01:36 PM
If you're one of my sellers then you already know that every week I provide you with a review the current active/pending/sold properties AND the absorption rate or months worth of inventory. Many of you ask, "Why is the absorption rate so important?"
According to the National Association of Realtors®, only 50% of all listings sell. If only 50% sell and there are 5 times more listings than there are buyers in the market then sellers have to get very serious when determining their list price if they want to sell not just list their property. In a shifting market, knowing … (3 comments)
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real estate: Still Renting?? - 11/15/07 12:41 PM
You just read that Austin is a top pick in the US for bargain buyers. You know Austin is beautiful, affordable, primed for job growth and housing market appreciation, so what are you waiting for? Prices to drop? More money to increase your down payment? Don't wait! See what you are losing on the attached spreadsheet.
Rental prices are high and, according to local economists, predicted to go up another 12% in 2008. Interest rates are still at historical lows. Build equity and stop giving your money away to Uncle Sam and your landlord.
Call or email me today and I'll … (0 comments)
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real estate: 20 Things That Can Alter the Value of Your Home - 10/31/07 12:39 PM
Sellers beware of urban legend. Pools don't always increase your home's value. "Unique" floorplan is a kind way of saying odd or funky. And, no, your collection of cat figurines pasting the walls of your home do not make buyers remember the house in a good way, nor is your tribute room to the band Queen a highlight feature of the house.
Yes, sometimes buyers may wish they had the opportunity to select the new carpet or paint color. But, overall, buyers want clean, updated and move in ready. That means neutral colors, no pets, comparable features with other homes in the … (0 comments)
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real estate: The Dark Side of Good Home Staging - 10/18/07 10:44 AM
The Dark Side of Good Home Staging
To read entire artilcle my blog references, click here!
Buyer beware is the moral of the story. Whether you are buying a new construction home or someone's personal residence, don't get distracted by staging. Specifically, when we are hired to sell someone's home we tell them about the most important rule of selling one's home: cut what you own in half! Meaning, box up or move of half of what you own and get it out of the property. It makes the closets and rooms appear much bigger than what then truly are. As most buyers … (0 comments)
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