homes: The Jolly Area of Jollyville Road - 08/06/10 05:04 PM
Jollyville Road has recently become a mecca for shoppers, business people, and residents, due to its varied character, which is a combination of high tech businesses, shopping venues, and nice but fairly reasonably priced homes with big, shady yards.

The relatively recent addition of the Arboretum and the nearby Domain make the area a shopper's paradise, and there are numerous strip centers, restaurants, fast food establishments, and grocery stores, among other businesses. In addition, Great Hills Baptist Church is in the center of the neighborhood, and it is one of the largest and most active churches in Austin with numerous … (0 comments)

homes: Mortgage Rates Hit An All Time Low: Again - 08/06/10 04:55 PM
In what has become an almost weekly occurrence mortgage rates hit new all time lows. The 30 year rate fell from 4.56 to 4.54 this week. Rates have either reached new lows or matched old lows for 5 consecutive weeks.

The 15 year also reached an all time low dropping from 4.03 to 4.00. It will be interesting to see if the 15 year fixed will fall below 4.0 in the next few weeks. The 5 year arm dropped from 3.79 to 3.76 just .01 points above the all time low. The 1 year arm dropped from 3.70 to … (4 comments)

homes: Mortgage Rates Hold At All Time Historic Low - 08/06/10 04:51 PM
Last week the 30 year rate fell to an all time low of 4.57. This week mortgage rates held at 4.57 so we are still sitting on all time historic lows. This is also the 4th week in a row where mortgage rates have either held steady or fallen. The expectation has been that rates were going to rise. Since the economic recovery has kind of sputtered their has been some downward pressure on mortgage rates. If the economy starts to recover we could expect rates to increase. In the meantime I would expect rates to hold steady or fall a … (1 comments)

homes: How to Become a Famous Real Estate Agent - 07/17/10 06:48 PM
So, you have taken the classes and you have now become a real estate agent. Or, you already are a real estate agent. Now that you are, or already are, a real estate agent, how do you become a famous real estate agent?

Before getting into the specifics of becoming famous, you need to sit back, kick up your feet and decide on your niche. Your niche will be the springboard from which you launch your campaign to become famous. Is the luxury market your thing, or maybe being a buyer's agent is more your cup-of-tea. You need to decide … (6 comments)

homes: Interested in a Condominium? Get a FHA-Insured Loan - 07/17/10 06:44 PM
Mortgage Insurance for Condominium Units (Section 234(c)) program assists potential homeowners in purchasing a home in a condominium development. The prospective condominium must be the potential homeowner's primary residence.

The intent of this federal program managed under the U.S. Department of Housing and Urban Development (HUD) is to insure the loan of a borrower who buys a unit in a condominium property. HUD does not directly provide loans to borrowers. Instead, HUD insures loans through FHA-approved lenders. Some of those who take advantage of the program are low- to moderate-income renters who want to buy their unit in order to … (1 comments)

homes: Advantages and Disadvantages of Reverse Mortgages - 07/05/10 06:58 PM
Reverse mortgages are a relatively recent product on the lending scene. The approval process is somewhat abbreviated compared to a traditional home loan, but there are some conditions and requirements that make a reverse mortgage unique to other home loans.

What Is a Reverse Mortgage?

It is a home loan that enables the homeowner access to the equity built up in the home. Some borrowers prefer a lump sum when taking out a reverse mortgage. Others choose to receive monthly payments. No payment is required on the reverse mortgage until the homeowner dies, sells the home or vacates the … (3 comments)

homes: The Perks of a Yard Sale - 06/26/10 08:39 PM
There is something about the change of seasons that makes people want to get organized. With the holidays in the not so distant future, it may be time to get rid of all the junk that has been accumulating in the guest room or make space in the garage. A yard sale can be a good way to get unwanted stuff out of the house and make a little money.

A yard sale or garage sale does require some work before, during and after, but having more space and some spending money makes it worth it. Several websites giving yard … (7 comments)

homes: Jobs in the Mortgage Industry - 06/26/10 08:35 PM
Foreclosures and short sales dominate the real estate market in many U.S. cities; although, the numbers seem to be evening out in certain areas. It takes manpower to process the increased workload for the mortgage industry and many companies are hiring. Not only does the lending industry need people to handle the new workload, there are various levels of employment required to run companies in the mortgage industry.

It is impressive how many different types of businesses are involved in the mortgage trade. Several related venues include banking and finance, mortgage and lending, credit unions, escrow companies and real estate … (0 comments)

homes: Newlyweds -- Merge Mortgage With Refi - 06/26/10 08:28 PM
Couples who decide to get married have many decisions ahead of them as to how they will live their lives after they are married. Merging finances is typically one of the first things worked out. If both own homes, that issue should fall at the top of the list. One decision might be to keep both homes - live in one and rent the other out, and then do a mortgage refinance on both. Another might to sell one, live in the other and do a mortgage refinance.

How to Determine Which House to Sell

There are several … (0 comments)

homes: Mortgage Rates Drop to All Time Low - 06/26/10 08:20 PM
Rates have been relatively low over the last month. This week, they are in the news by falling to a new all time historical low.

The 30 year rate fell from 4.75 to 4.69 this week. Two weeks ago the 30 year rate was sitting at 4.72. What's interesting is that over the last month, when a lot of people have been talking about how rates are about to start rising, we are instead breaking records with mortgage rate lows. We mostly concentrate on the 30 year rate because it is the most widely used mortgage product. But in addition … (0 comments)

homes: The Hard Facts About Hard Money Loans - 05/26/10 07:31 PM
Hard money loans have been around for quite a while, but just not so much in the forefront as are more traditional loans. There are a variety of uses for hard money loans, and they have evolved in the past several years as to how they are used and what is now required to obtain one. Although they have their advantages, hard money loans also have their limitations. Before applying for one, make sure that you cannot be approved for a more traditional loan. A hard money loan should be your last resort.

What is a Hard Money Loan?

… (3 comments)

homes: Foreclosure Rescue Fraud Crackdown - 05/26/10 07:03 PM
Every aspect of the real estate industry has experienced fraud at one time or another. From homeowners, homebuyers and real estate professionals to lenders, appraisers and title companies, every step of the home buying process has been tainted by fraudulent activity. A greater abundance of it came to light more recently due to the housing market bust. Most once booming markets either diminished significantly or came to a screeching halt as foreclosures began to overshadow the home sales scene.

Subsequently, the flowing streams of wealth enjoyed by many during the housing bubble slowed to a trickle or dried up … (2 comments)

homes: Five Bad Home Improvement Ideas - 05/15/10 08:28 PM
When considering adding value to a home, you consistently hear from the real estate industry that updated bathrooms and quality kitchens stand out in a home sale. Those are proven sale closers. There are certain other improvements you can make to your home that will beautify it or create convenience for your family. When it comes time to selling, however, those improvements may do nothing to increase the value of the property and may even turn off potential homebuyers.

Over-the-Top Renovations

Au contraire mon frère, not all renovations will raise the value of your home. Just `cause it's … (5 comments)

homes: Private Mortgage Insurance Basics - 04/30/10 09:04 PM
Keep in mind that when you buy a home and don't have 20 percent down, you may be required to pay for private mortgage insurance (PMI). PMI gives homebuyers the ability to buy a home with as little as three to five percent down. It also provides loan servicers assurance that, should your mortgage go into default and your home is foreclosed upon, the loan will be paid for. Those are the advantages, but there is a dark side to PMI.

A good example of this involves a recent bout Bank of America experienced with the Massachusetts Attorney General's office. … (0 comments)

homes: Which Home Loan Is Right for You? - 04/21/10 05:51 PM
Depending upon several factors, some of which include geographic location, credit scores, current interest rates and current income, different loans work best for different home buyers. A good example of this is West Coast borrowers who opted for different versions of an adjustable rate mortgage (ARM) for their home buying needs in recent years. At the time of many of these ARMs, the initial interest rate was significantly lower than those for traditional fixed-rate mortgages, so their payments were quite affordable at the onset of the loan.

One common theory for using an ARM is to buy a home … (0 comments)

homes: Strategic Home Security Measures - 04/21/10 05:48 PM
Whether you're living in a large metropolitan city or in Podunk, USA, you'll need security in your home to protect your loved ones and personal possessions. You may not know this as a homeowner, but, just like in treating your health, prevention is the best medicine. The best way to not become victim to a security breach in your home is to exercise prevention.

One of the most important preventive measures you can use is to conduct an inspection on your home with a security specialist. You may also do this yourself if you are aware of the entry points … (0 comments)

homes: 10 Things to Know Before Enlisting the Help of a Real Estate Agent - 04/11/10 06:53 PM
Real estate agents are great sources of information and assistance in the housing industry. Their purpose is to serve the real estate market with integrity. Under contract they have fiduciary responsibilities to their clients. Before enlisting the assistance of a real estate agent, there are 10 things to keep in mind.

1. Before a real estate agent can successfully sell your home, you need to have it in tip top shape. All colors inside and outside of the home should be in neutral colors, including wallpaper, painted walls, and the exterior. If you are a smoker or own a pet, … (4 comments)

homes: Hope for Homeowners - 03/28/10 08:42 PM
Hope for Homeowners program was enacted to assist homeowners either in default or at risk of foreclosure. It began in October of 2008 and will end on September 30, 2011. Those eligible for the program will be provided a new 30-year, fixed-rate FHA-insured mortgage. For homeowners finding it hard to pay their existing mortgages, this may provide an avenue to refinance their current mortgage into one that they can afford.

Both lender and homeowner must formally agree to participate before a new mortgage can be approved.

Some of the program requirements are as follows:

* Your home … (0 comments)

homes: Home Median Price Comparisons for Top 10 U.S. Cities - 03/16/10 07:06 PM
You might be surprised to find out the median price homes are selling for in the nation's top ten largest cities. Below, you'll find the median price for resale, new homes and foreclosures.


CITY Resale Median Price
+/- % New Home
Median Price
+/- % Foreclosures
Median Price
+/- %
New York, NY $625,000 -6.0% $4,500,000 0.0% $489,000 0.0%
Los Angeles, CA $449,000 -0.2% $749,900 +8.7% $344,000 +1.7%
Chicago, IL $279,900 0.0% $950,000 0.0% $190,868 -0.6%
Houston, TX $162,500 +1.6% $179,990 0.0% $96,791 +0.4%
Phoenix, AZ $175,000 -2.2% $321,465 -0.2% $161,600 -2.1%
Philadelphia, PA $167,900 … (0 comments)

homes: Remodeling Amenities That Add to the Sale of Your Home - 03/08/10 07:21 PM
In preparing a home for sale, some homeowners don't have a clue where to concentrate their efforts and appreciate a valuable tip or two. Read the questions below. If the answer is yes to any of these, follow the strategy to fix it:

* Is the wallpaper throughout your home outdated?
If yes, replace the wallpaper, or paint or texture over it.

* Is your paneling outdated?
Typical grooved paneling is outdated. If you have this type of paneling in your home, paint it a neutral color. High-quality paneling without grooves, which is $30+ a sheet unfinished, as … (4 comments)