Banks paying under-water homeowners up to $35,000 to sell their home

Is this you?  Someone you know?  In a recent article from Bloomberg it was highlighted that some Banks are now paying homeowners to avoid foreclosure.  You read that right, PAYING.  From $3-$35,000.  Sounds too good to be true, right?  It's not!

It's a numbers game really, Banks have gotten smarter in realizing that approving a short sale on a home, streamlining the process & even offering the seller a cash incentive makes way more sense than a costly, lengthy foreclosure.  The foreclosure process is lengthy & the short sale process is anything but short. With the banks behind it I can definitely see this speeding up the otherwise lengthy, drawn out, frustrating & time consuming short sale process.

It's a win - win & one I am all for.

Not all homeowners can qualify & most of the guidelines aren't even revealed.  It seems most of the banks "identify" people on their own & let you know.  No qualifying process that I can find, no sign-up or volunteering. 

If you are in, you are in, if you aren't, in the words of Heidi Klum "Auf Wiedersehen". JP Morgan has been the incentive provider reported thus far, others that are heard to be offering incentives are Wells Fargo, Citigroup & even Bank of America.

As the old saying goes, "Money Talks", this certainly is getting the attention of some homeowners who have stopped making their mortgage payments & otherwise wouldn't be eager to start up a conversation with their mortgage company.

Loreena really hit the nail on the head with this post.  Sometimes it's hard to see the forest through the trees but it's important to keep your goal in mind when negotiating.  

A couple thousand dollars are not going to affect your monthly mortgage payment by much AT ALL! Negligible!

Rockwall Ranch ~ Market Snapshot ~ brought to you by Kristin Moran

Rockwall Ranch is a magnificent area of the Texas Hill Country. The deer outnumber the people that live there, there are an abundance of trees & you get a feel for true county living but close to everything.

Rockwall Ranch has a community pool & playground for the kids, walking trails & views to die for.

Beautiful homes, on large lots are what you will find in Rockwall Ranch which is located in New Braunfels, Texas in Comal County.  Know what that means?  NO CITY TAXES!

If you are convinced Rockwall Ranch is the place for you & your family to call home, below are the available homes:

Interested in more info on the beautiful Rockwall Ranch? I'm happy to help!

The New Braunfels, Texas Farmers Market ~ Have you been?

All of this activity has been going on right under my nose! It was our first visit to The New Braunfels, Texas Farmers Market this past Saturday.  What a treat!

And just like their website say's, they had it all:

• Locally Grown Fruits & Vegetables
• Fresh & Dried Flowers 
• Dairy Goods & Cheeses
• Baked Goods
• Select Meats 
• Handmade Items
• Plants & Garden Items 
• Fresh & Dried Herbs 
• Entertainment 

The New Braunfels, Texas Farmers Market is open EVERY Saturday, rain or shine from 9-1pm.  You can literally get everything on your grocery list there.  If it consists of healthy, farm raised items.  Items like eggs, lettuce, tomatoes, grass fed meats, cheese, organic honey, etc.  Awesome stuff!

Take a stroll down the aisles of The New Braunfels, Texas Farmer's Market, grab a coffee & some fresh bread for your bag.  Tap your foot along to the music while you select your frest fruit & vegetables & smile because you are about to take all these yummy goodies home!

I can't think of anything more fun than a Farmer's Market on a Saturday AM on a beautiful day in New Braunfels, Texas!

Top 10 Reason's the market seems to be picking up~

Things all around me are all hustle & bustle. I LOVE IT! Reminds me of the good ol' days! Here’s how I can tell:

10.   You show a house & find out it’s already under contract (grrrr), the agent hasn’t HAD TIME to change the status.  Oops.

9.      You put a new listing in MLS & within hours you have 4 inquiries on it & the promise of an offer before they have seen it.

8.      You have to steal one of your signs from your listing that is already under contract to put in the yard of another listing because you are out of signs!

7.      You pack a cooler in your dirty car full of snacks & water because you are always eating on the run!

6.      When your spouse asks you “What’s for dinner?” you reply, “Olives & water, I’ve got work to do!”

5.       You dream about being in a bidding war on a house with another agent & wake  up in a sweat.

4.      You pack a blank contract in your purse “just in case”.

3.       You start answering your phone with “Sorry, that house is already sold!”

2.   You change your name on facebook to “Real Estate DYNAMO!”

AND THE #1 REASON the market seems to be picking up:

1.      You rack your brain for a blog post topic & all you can come up with is how busy you are so you write a top 10 list of how busy you are!

Time is running out!  The Mortgage Forgiveness Debt Relief Act

That's right, time is running out for those homeowners who don't want to get hit with a tax bill because they walked away, restructured or short sold their primary residence. 

Back in 2007, while foreclosures were increasing & the number of short sales were spiking, Congress decided to provide some sort of relief to folks in this situation.  The Mortgage Forgiveness Debt Relief Act of 2007 was passed & cancels the debt.  

What is this cancelled debt?  In the instance of a short sale, for instance, you owe $285,00 on your primary residence in San Antonio, Texas.  Your Real Estate agent put's it on the market & it sells for $250,000.  There's a difference of what you owe to the lender & what it sold for (in this case, $35,000) that usually would be reported as income & you would have to pay taxes on.

Thanks to The Mortgage Forgiveness Debt Relief you will not be taxed on the cancelled debt during the remainder of 2012.  

If you owe more than what your San Antonio, Texas home can sell for or if you need help discussing your options, call, email or text me.  There is still time to do a short sale before the end of 2012.

Clear Springs Park Subdivision ~ The hill country of San Antonio, Texas

If you are dreaming of a spot in San Antonio, Texas that has views in abundance, huge lot sizes, scenery galore& friendly neighbors, Clear Springs Park might be for you!

Located at the corner of Clear Springs Park & Smithson Valley roads, Clear Springs Park is right in the middle of San Antonio, close to 1604, 281 & Highway 46!

What would a neighborhood be without views for miles, deer in your backyard & privacy from neighbors?

Most of the homes are set far back on their lots, lot sizes are between 1 and 5 acres each.  This is country living in San Antonio at it's finest, WITHOUT city taxes!

The biggest feature of Clear Springs Park has to be the animal restrictions.  You can have a horse or a donkey or even a peacock if you so desire! Clear Springs Park certainly has it all!

Foreclosure Vs. Short Sale ~ What happens to your credit in San Antonio, Texas