Ethan's Blog

Stunning Custom Build in Riverplace

a a — Mon, 16 Jul 2007 17:55:15 -0500

Vince Saporita | Keller Williams Realty | 512 299 4124

10828 Enclave Vista Cove, Austin, TX

Stunning Custom Home completed 12/06. Minutes from Downtown with Incredible Sunsets off your private Deck every evening! Open Floor plan

4 Bdrm Single Family House

offered at $514,900

Year Built	2006
Sq Footage	3,738
Bedrooms	4
Bathrooms	3 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	Unspecified
HOA/Maint	$67 per month

DESCRIPTION

This Property is located in a quiet Cul-de-sac in the exclusive Riverplace Blvd. area. Breathtaking views, nature and privacy. Located across from the new Riverplace Elementary, the Children's Courtyard daycare/preschool and the Austin Christian Fellowship. Countryclub, golf course, tennis courts and Lake Austin.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Walk-in closet	Tile floor	Family room
Living room	Bonus/Rec room	Office/Den
Dining room	Breakfast nook	Dishwasher
Refrigerator	Stove/Oven	Microwave
Granite countertop	Stainless steel appliances	Attic
Washer	Dryer	Laundry area - inside
Balcony, Deck, or Patio	Yard	Jacuzzi/Whirlpool

OTHER SPECIAL FEATURES

Back deck overlooking Canyon

ADDITIONAL PHOTOS

Seller contact info:

Vince Saporita

Keller Williams Realty

512 299 4124

For sale by individual owner

Ehan Hoke Phone: 512-583-1028 Cell: 512-924-5741 Fax: 512-583-1040 email: ehoke@landmtg.com www.ethanhoke.com	Rate Quote


Purchase Price	$514,900.00
Earnest Money	$2,000.00
Home Owner's Insurance	$100.00
Annual Taxes	$13,000.00

Programs
	30 Year Fixed	30 Year Fixed 80/20	30 Year Fixed Interest Only
	90%	*****	100%
Interest Rate*	6.750%	6.875%	7.000%
Interest Rate*	6.750%	8.500%	7.000%
APR **	7.375%	7.250%	7.500%
Loan Amount	$497,400	$410,320	$512,900
Loan Amount	$497,400	$102,580	$512,900
Principal & Interest	$3,226.13	$2,695.51	$3,003.58
Principal & Interest	$3,226.13	$788.75	$3,003.58
Property Taxes***	$1,083.33	$1,083.33	$1,083.33
Homeowner’s Insurance (estimated) ***	$100.00	$100.00	$100.00
Mortgage Insurance (estimated)	$338.98	$0.00	$360.43
Total Payment	$4,748.44	$4,667.60	$4,547.35

* Rates quoted are note rates. Rates subject to change, depending on market conditions.
** These are all estimated figures based on the above scenario, and based on closing mid-month. Closing costs consist of all fees including 1% origination fee and estimated Title Company related fees. Programs are subject to underwriting qualification.

*** Escrow account not required on some options.
***** 2nd liens require 650 or above, quote based on 720 credit score

inactive

a a — Mon, 16 Jul 2007 16:50:42 -0500

On Hold

Exciting Pflugerville Getaway - 908 Indian Run Dr.

908 Indian run dr
Pflugerville, TX 78660

Price: $175,000

City: Pflugerville, 78660

County: Travis

School District: Pflugerville

MLS#: 4526743

Sub.: club at wells point ph A sec1

Annual Taxes: $4,625

Year of Tax: 2006

Status: Active

Map Location

Great floor plan, master bath with jetted tub,separate shower,double vanity,recent up grade tile in kitchen& bathroom,recent microwave,Water softner replace 10/06. bring offers,this one won't last.

Additional Features

Property Type:	House	Stories:	1	Acres:	0.18
Bedrooms:	4	AC / Heating:	CENTRAL, CENTRAL	Lot Size:	7735
Bathrooms:	2 Full	School District:	Pflugerville	Year Built:	1999
Garage:	2	Square Feet:	2,277	View:	N/A
		Pool:		Water View:	N/A

Special Features

Fireplace	2 or more Living Rooms	Bedroom on Main
Formal Dining Room	Tile Floors

Ethan Hoke Phone: 512-583-1028 Cell: 512-924-5741 Fax: 512-583-1040 email: ehoke@landmtg.com www.ethanhoke.com	Rate Quote


Purchase Price	$175,000.00		This quote assumes:
Earnest Money	$500.00		650 or higher score, approvable using tax returns, 2 year job / employment history, primary residence
Home Owner's Insurance	$65.00
Annual Taxes	$5,033.00

Programs
	30 Year Fixed	30 Year Fixed 80/20	30 year FHA Fixed	30 Year Fixed Interest Only
	95%	*****	100%	100%
Interest Rate*	6.750%	7.000%	6.625%	7.000%
Interest Rate*	6.750%	8.500%	6.625%	7.000%
APR **	7.375%	7.250%	7.125%	7.500%
Loan Amount	$166,250	$139,600	$177,118	$174,500
Loan Amount	$166,250	$34,900	$177,118	$174,500
Principal & Interest	$1,078.29	$928.76	$1,134.10	$1,020.83
Principal & Interest	$1,078.29	$268.35	$1,134.10	$1,020.83
Property Taxes***	$419.42	$419.42	$419.42	$419.42
Homeowner’s Insurance (estimated) ***	$65.00	$65.00	$65.00	$65.00
Mortgage Insurance (estimated)	$115.21	$0.00	$72.92	$122.50
Total Payment	$1,677.92	$1,681.53	$1,691.44	$1,627.75

* Rates quoted are note rates. Rates subject to change, depending on market conditions.
** These are all estimated figures based on the above scenario, and based on closing mid-month. Closing costs consist of all fees including 1% origination fee and estimated Title Company related fees. Programs are subject to underwriting qualification.
					*** Escrow account not required on some options.
***** 2nd liens require 650 or above, quote based on 720 credit score

Free Home Buyer Seminar - Learn How to Buy Your First Home

a a — Thu, 05 Jul 2007 11:00:04 -0500

How to help your rejected buyers??

a a — Tue, 05 Jun 2007 18:50:30 -0500

"Have you been turned down for a loan?" This used to be more of a sales cliche. But this has become a real problem for a lot of people.

Here's some of the changes we have seen to loans since 6/2006:

560 min for 100% full doc sub-prime loan, now 620 score min

100% stated loan 600 score to 700 score 100% stated documentation.

With shrink loan programs and tightening guidelines, more people are being left out of the home buying. People are becoming frustrated.

What can be done?? Although we have some unique loan programs, most have been standardized. We must consider something different.

We just started a business relationship with a credit repair company that is very professional and commits to their promises.

i have worked with credit companies in the past and have been unimpressed. These folks are different; they have a methodical process for fixing credit. They offer a 4, 6 and 8 month programs for credit repair and if the borrower won't fit those programs, they say so. If you can fix your credit quickly they give you the advice!

If you have been turned down for a home loan, please contact me. We have some you unique loan programs that can help (especially if you can pay some of your closing costs). If not I would be happy to put you in touch with a credit repair firm that will fix you credit.

Rates are expected to worsen

a a — Mon, 04 Jun 2007 11:32:28 -0500

This is some finance market info, i thought everyone should know. So you can be an expert to your clients. The FNMA 30yr bond drives mortgage prices, it is the primary cost associated with standard bank mortgages.

We have an excellent finance group that tracks the bond market for us.

So far rates have worsened 6 of the 7 days. Although everyone got good news from the fed, that their rates were holding at 5.25%, the notes from the fed meeting showed a strong concern for inflation and little concern over the health of the economy.

The economic date released since then shows that employment is up and the overall economy is strong.

What's the big deal? The rate ceiling (maximum rates for a standard 5% down mortgage) we have seen for many months of was annihilated by the market.

Per Freddie Mac "Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 6.42 percent with an average 0.4 point for the week ending May 31, 2007, up from last week when it averaged 6.37 percent. Last year at this time, the 30-year FRM averaged 6.67 percent."

We expect this to go up to shortly. these numbers are from freddie mac and are not a loan quote.

This is a 0.3% rate worsening from a week ago.

So warn your clients, to lock their rates to avoid the market shift.

When is it good to pay discount points?

a a — Mon, 28 May 2007 19:25:13 -0500

As rates slowly rise with inflation, buyers will be looking for more options to purchase the home they want. While there are other products, one of the simplest and safest options is paying points. Discount points are fees paid to the lender at closing to permanently pay down the interest rate of the loan (this is not a buy down).

Each "point" is equal to 1% of the loan amount. For example on a $200,000 loan, a point would equal $2,000. The amount of interest rate discount depends on the loan product, but it can reduce the rate from a quarter point to sometimes over a half point. This is especially beneficial on larger home purchases and buyers that can't document their income.

If the buyer has a little extra to put into the purchase or the seller is willing to contribute a little bit more, this becomes a stronger option.

Example:

Suppose a buyer wants to purchase a $200,000 house

	0 points in discount	1% in discount
Interest Rate	6.25%	5.875%
Payment	$1231.43	$1183.08

A simple formula for weighing the benefits:

Monthly savings is $48.35 divided into the discount of $2000.00

It would take just over 41 months or 3.44 year to recover the cost.

If your buyer plans on staying in the house for more than 3.5 years this makes sense. Remember, the longer that you plan on staying in the house, the more important .

I'm guessing 34,500

a a — Thu, 24 May 2007 08:09:01 -0500

it's just a little over a month away. So this number seems safe, althought it woulbe nice to see more people join.

what are we going to do with the folks that just joined and never did anything else, like fill out a full profile. i invited a few of those folks and have been disappointed.

Guest Book

a a — Tue, 22 May 2007 22:45:30 -0500

Thank you for visiting my mortgage blog.

It is always fun answering questions and giving you advice.

Please sign below and include your city and state. I would like to create a map of all the visitors to this blog.

Remember to click subscribe to this blog so you will automatically receive updates.

Parents Workshop for Financial Education

a a — Thu, 17 May 2007 18:33:23 -0500

Ever wondered how in the world your kids were going to learn how to be responsible with money?
Are you curious about creating a powerful financial future with them?
Do you wish you had the tools to build good money habits when you were young?

Well parents, this is the workshop that provides the support you've been looking for!

Saturday, May 19, 1 - 4 p.m. at The Khabele School, 801 Rio Grande. Register on-line at http://www.themoneyacademy.net/

Knowing how to handle our personal finances is one of the most important educations we can get, and yet it is not taught in school. As parents, we struggle with how to help our kids gain proficiency and power with money, so they can create a future of financial freedom and security. Gayle Skiera, a Landmark Forum Graduate, delivers a 3 hour workshop that will forever change the way you teach your kids about money.

What you will have after attending this parent workshop:

A roadmap for transferring financial competency and responsibility to your kids.
Specific tangible tools and a new language for talking about money to your kids.
A new perspective of money within your household.
Specific methods to help your kids regulate their impulses and to budget resources.

Here's what people are saying about Gayle's workshops:

"The Money Academy programs offer a powerful way to engage our kids in a real dialogue about the value of money and what our relationship is to it. This has huge implications for the rest of their lives. I think it's the most important education we can get." ...Brigid Shea, Civic Leader and Parent

"Gayle facilitates a fun, free and more conscious relationship to money." ...Milad Taghehchian, Finance Entrepreneur

Check out this program and all the other offerings from The Money Academy on the website: http://www.themoneyacademy.net/, or call Gayle at 443-8851.

See you Saturday!

TEXAS! IMPORTANT MORTGAGE LEGISLATIVE ITEM NEEDS YOUR ATTENTION!

a a — Tue, 15 May 2007 12:19:15 -0500

IMPORTANT LEGISLATIVE ITEM NEEDS YOUR ATTENTION!

Has one of your buyers ever got stuck with a higher mortgage rate, because they had to use the builder's Mortgage Company?

There is legislation in the Texas House of Representatives that would prohibit sellers (builders) from making incentives contingent upon using any specific service provider. Builders would no longer be able to steer borrowers to their own mortgage companies.

HB 3798 is legislation to allow the homebuyer to apply any contributions from the builder as inducements to buy the home, not be contingent on specified lenders or mortgage originators. This will give the buyers a fairer position and also the originating industry a chance to be competitive for the buyer.

Contact you house rep to pass this;

http://www.legis.state.tx.us/Members/Members.aspx?Chamber=H

I'm curious what you think about this. Let's do our own vote. You can comment and say yes or no.

You can always say more. I'll total the votes - 1 for 1 against

HONEY STOP THE CAR!!

a a — Wed, 09 May 2007 15:12:09 -0500

HONEY STOP THE CAR!!
1104 Buffalo Gap Road, Austin, TX, 78734

$222,000

For Prequalification call Ethan hoke at 924-5741

REALTORS - The Burrows Team

RE/MAX Lakeside

512-627-6850 (direct/Cell)

512-366-9349(facsimile)

MLS#	1599024
Type	Single-family
Style	Single Story
School District	Lake Travis ISD
Area	LS
Bedrooms	3
Bathrooms	2
Square Footage	1329
Lot Size	0.19 acres
Age	Built 1999
Parking	1

Spacious 3 bedroom, 2 bath home with soothing atmosphere, special design features, and lovely details. DEEDED LAKE TRAVIS ACCESS!!

Interior Features	Dishwasher, Range - Free Standing, Single Oven, ,Carpet Flrs, Hard Tile Flrs,Slab Foundation,Ceiling-Cathedral, Ceiling-High, Ceiling-Vaulted, Indoor Utilities, In-Law Plan, Separate Shower, Smoke Detector, Window Treatments, Wired for Cable,Main Level Laundry, Utility Room,Breakfast Area, Liv/Din Combo,Breakfast Area, Country Kitchen,Mstr Bdrm-Full Bath, Mstr Bdrm-In-Law Plan, Mstr Bdrm-Separate Shower,Bedroom/Office, Family Rm, Foyer
Exterior Features	Common Grounds, Lake Privileges,South Facing,Cedar Fence, Wood Fence,Attached Garage, Door-Single Garage,Level Lot, Wooded Lot,Utilities-Propane,Hill Country View,Water District Water Exterior construction: All Sides Masonry, Brick Veneer, HardiPlank Type Energy Info: Ceiling Fan(s) Roofing: Composition Shingle View
Additional Features and Amenities	Common Grounds, Lake Privileges,South Facing,Cedar Fence, Wood Fence,Attached Garage, Door-Single Garage,Level Lot, Wooded Lot,Utilities-Propane,Hill Country View,Water District Water Exterior construction: All Sides Masonry, Brick Veneer, HardiPlank Type Energy Info: Ceiling Fan(s) Roofing: Composition Shingle View Attached parking Heating features: Central Heat Central air conditioning Approximate lot is 60X130(appr) Approximately 0.19 acre(s) Lot size is less than 1/2 acre School District: Lake Travis Isd Elementary School: Lake Travis Middle School: Hudson Bend High School: Lake Travis

Photo 1:

Photo 2:

Photo 3:

Photo 4:

Photo 5:

Photo 6:

Photo 7:

How to evaluate your loan officer.

a a — Fri, 27 Apr 2007 17:10:33 -0500

Good loan officers always put their customers in front of the bottom line. This is accomplished by providing a high level of customer service, quoting competitive rates and fees.

This a partial list of what your loan officer must do to be competent.

1) Returns phones calls - most are pretty busy, but they should respond within half a day.

2) Answers your questions – must be willing to teach, so you will be informed.

3) Tells you the news you need to hear, can tell you bad news.

4) Ask for your information on the first call. Why? a good loan officer asks for specific information, to make sure the loan they quote matches your needs. This way you don't end up with a different loan at the closing.

5) Doesn't change fees at closing - if there is a change in the fees or rate, they must send out a new good faith estimate, truth in lending document and loan application.

6) Offers to send you a good faith estimate. So you can compare the costs associated with your loan.

7) Gives you copies of the HUD Guide ( Settlement Costs and helpful information) and consumer handbook on Adjustable Rate mortgages.

8) Tells you the difference between a pre-qualification and pre-approval - a pre-approval is more desireable. The extra effort could save you earnest money.

9) Protects you from fraudulent transactions. It's better to pay a little bit more on a loan, than risk fraud charges.

10) Checks to see if you are happy at or after the close. Now you know if they are in it for the long haul.

Financial Education for Children

a a — Thu, 26 Apr 2007 15:28:25 -0500

Enterprise Camp

Send your Kids on this five-day journey into Business ownership providing tools and experience to create a powerful financial future.

Budding entrepreneurs get to explore their business ideas with real-life business owners, while developing a business of their own for the week. And the best part -- they get to keep their profits from the week!

They will spend a week as entrepreneurs, learning from successful local business owners, as they start and run a business of their own. Field trips, guest speakers, drum circles, and activities that foster teamwork and integrity are the cornerstone of the camp.

The campers love the idea that they get to keep the money they make from doing business for the week. The big plus here is that they will know how to use that money to make more money!

It's a great way for kids to learn how to turn their great ideas into real businesses. Register today with a $75 deposit. There are six summer sessions for different ages.

Location: Casa de Luz, 1701 Toomey Road, Austin, 78704

Times: 8:30 - 3:30

June 11 - 15 ~ Ages 10 - 18

June 25 - 29 ~ Ages 10 - 15

July 9 - 13 ~ Ages 8 - 12

July 23 - 27 ~ Ages 8 - 15

August 6 10 ~ Ages 10 - 18

Location: Young People's Workshop

http://www.youngpeoplesworkshops.com/

Times: 9 - 12:00

July 16 - 20 ~ Ages 8 - 12

We would love to hear from you!

Email: info@themoneyacademy.net

Phone: 512-443-8851 or 512-689-3351

Check out our blog at themoneyacademy.blogspot.com

Thank You and have a Prosperous Day!

Want to invest in Austin Texas??

a a — Sat, 07 Apr 2007 21:56:26 -0500

I have built a strong netowrk to supply homes to out of state investors.

We have builders reps, realtors, loaan officers and leasing agents that can close you refferals for you.

Want a good income stream by helping others learn investing?

Help your customers invest in one of the few appreciating real estate markets in the US.

To learn more about austin real estate investment email me ethanhoke@yahoo.com

Is it good to do both real estate and mortgages yourself?

a a — Sat, 07 Apr 2007 21:15:55 -0500

i see people dancing around this in thier posts alot, so i wanted to just ask this..

i'm curious, for people who do both.. has this hurt you volume?

What is the total number of deals you did last year?

What reaction do you get when you have people sign the dual representation disclosure (for loans and real estate)?

How do you handle 2 large sets of regulations? Do you work as a netbranch or under a broker?

Lake Travis Estate 14+/- acre peninsula in Spicewood

a a — Tue, 27 Mar 2007 11:24:59 -0500

A realtor friend has this listing in Spicewood Texas - right next to Lakeway

Lake Travis Estate 14+/- acre peninsula in Spicewood,

Home is over 10,000sq feet with two guest house's. Entire property including paths to the lake are handicap accessible. Home has 1500 bottle wine cellar, chef designed kitchen, with eden like grounds and a infinity-edge pool. A private sand beach and rock terrace with an entertainment pavilion.

this can be shown by appointment only.

Price $7.700,000 million

Tax Incentives for Home Buyers

a a — Mon, 19 Mar 2007 10:43:19 -0500

This was written by Laura McKeand, a coworker from Land Mortgage As the 2006 Tax Filing Deadline fast approaches, your past and future clients may be trying their best to avoid giving more of their money than absolutely necessary to the IRS.   Being real estate professionals, that offer the most to their clients, we know you have already educated them that purchasing a home is not only a sound investment, but it's also an excellent tax deduction. However, it might be a fine time to review the basic deductions for 2006 and a new one for 2007 that you may not know.
Here is a quick refresher course on 2006 allowable deductions:
Home Mortgage Interest - Home mortgage interest, defined as any interest paid on a loan secured for a primary residence or second home, is deductible. Your clients should receive Form 1098 (Mortgage Interest Statement) from their mortgage holder at the end of each year.

Points Paid at Closing - Points are also known as loan origination fees or discount points that are used to buy down the rate. Homebuyers are allowed to deduct these points even if they were paid by the seller on behalf of the buyer. This information will be found on the HUD-1 or settlement statement provided by the title company at closing.

Real estate taxes paid at closing - For IRS purposes, the seller is treated as paying the property taxes up to, but not including the date of the sale. The buyer is treated as paying the taxes beginning the day of the sale. But most importantly, the buyer and seller are each considered to have paid their own share of the taxes even if either paid the entire amount. This information will be found on the HUD-1 or settlement statement provided at closing.

Real estate taxes paid to a taxing authority during the year - Real estate taxes are either paid directly by the homeowner to the taxing authority or through an escrow account. The key here is that the taxes have to be paid during the actual tax year being filed. The real estate tax bill will show the exact amount.

New for 2007 Home Buyers:

Mortgage Insurance Premiums - One of the most exciting changes allows qualified buyers with adjusted gross incomes up to $100,000 to deduct 100% of their private and government Mortgage Insurance Premiums on their federal tax returns. With second lien rates on the rise, this is really great news for buyers with less than 20% to put down on a house.
As a professional courtesy, since most clients once they move into their new home never seem to quite locate their original HUD-1, a good mortgage professional will send their clients a copy of their signed settlement statement at the end of the year. It is one more point of contact my clients seem to appreciate.

Does Your Client Have the Right Mortgage?

a a — Fri, 16 Mar 2007 16:15:40 -0500

With tax season here, many of us tend to focus on meeting obligations related to tax preparation, but often overlook the potential tax benefits or savings that having the "right" mortgage can provide. An annual mortgage check-up can assist your clients, or you, in determining whether or not real estate investments are operating at levels designed to meet your long-term financial objectives.

What is a Complimentary Annual Mortgage Check-Up?

This is a service not typically offered by other lenders and has become one of my most requested services.

There has been such a proliferation of mortgage teasers saturating the media in recent months, it has become even more confusing to know where the best deals are to be found and which operations are legitimate. Some companies are not taking the total financial objective into account and are just out to make a sale. They view the sale as the most important aspect of the deal while Land Mortgage understands the relationship with the client is the true investment. The Check-Up helps to sort through the options and offers a clear picture for options that directly meet your clients' needs. Additionally, we provide recent comparable sales in the vicinity of the property to give an indication of current valuation.

The Check-Up provides the following at no cost or obligation:

•· Needs analysis

•· Property profile (includes multiple comparable property sales)

•· Credit repair service

•· Debt restructuring

Do I need one if I recently refinanced or own multiple properties?

Even if you have refinanced within the last year to take advantage of low rates or own more than one property, it is wise to have a review. If you already have a mortgage working effectively for you, then this will be made clear in the results. There are new loan programs emerging regularly that may not have been available several months ago, which could better serve your financial needs and plans. Obtaining a Complimentary Annual Mortgage Check-Up now can provide the information needed to make a decision that may have significant impact on next year's taxes and/or your financial planning.

Market update for 3/16

a a — Fri, 16 Mar 2007 14:53:23 -0500

"Nothing endures but change."

Heraclitus

The past week and month have seen plenty of change to the financial markets. One major event from this week concerns an announcement in the sub-prime lending market. New Century, a California-based lender, announced their bankruptcy filing earlier this week, and this news has spurred much speculation about the future of sub-prime lending and the loans currently pending funding. If you have a deal involving a sub-prime borrower, we urge you to stay in contact with them. If you have questions or concerns please feel free to contact any of our mortgage originators for more information.

The Labor Department reported yesterday that wholesale prices surged surprisingly higher to register a gain of 1.3% in February. Equally surprising were Producer prices (excluding food and energy), which were up 0.4% last month; twice the 0.2% gain most analysts had expected. The Labor Department also reported that first-time jobless claims dropped by 12,000 during the week ended 3/10 - an indication that the labor sector remains far more solid than many had anticipated.

All of this normally unfriendly mortgage market news landed within the first few minutes of trading yesterday morning, and mortgage investors barely flinched. The passive response from investors was actually the most surprising event of the day. Investors seem to be waiting for more information before reacting. More economic news, which should have an impact on the markets, is expected today. Next Friday we will have a more comprehensive analysis of how all these changes could affect your business over the next few months.