Shirley's North San Antonio, Texas, Real Estate Blog

New Homebuyer Tax Credit.... What you need to know

Sat, 21 Nov 2009 12:36:21 -0600

Via Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com):

New homebuyer tax credit

A new tax credit for homebuyers has been enacted and there are some changes. Income limits have been increased and it is no longer restricted to First Time Homebuyers.

I have included a chart below from the National Association of Realtors. This is the best illustration I have seen so far and will help answer many questions. I have heard positive feedback from those that have called the IRS from the phone numbers found on their website, irs.gov. Hold times are short and you can easily get to a human being!!

The effective date of this new credit is November 6, 2009 as that is the day this was signed into law!!

I hope this is helpful for those with questions.

As you can see, the income limits were increased to include more participants in the program as well as the inclusion of buyers who have previously owned a home.

Tom Burris
DallasLoanGuy.com
Dallas, TX

http://www.dallasloanguy.com/

I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!!

Please share this article on your facebook wall!!

And re-blog if you are an activerain member!!

Good news for San Antonio real estate

Fri, 20 Nov 2009 23:15:14 -0600

Good news for San Antonio real estate

The San Antonio Board of Realtors has announced that home sales rose by 25% in October compared with the same month in 2008, possibly due to the $8000 first-time home buyer tax credit.

More than 1,712 existing homes were sold last month and most of them sold at less than $200,000. In October, only about 9% of the sales were lender-owned properties.

The tax credit has now been extended through the spring and now includes a $6,500 tax credit for people selling a home they've owned for at least three years and purchasing another one.

SABOR says that October's home sales also got a boost because they're being compared with the gloomy economic environment in 2008. Negative events with banks and the stock market caused many people to delay buying a home during October of last year.

One of the strengths of the San Antonio housing market is that it isn't dominated by lender-owned properties.

Cheating On Your Agent

Thu, 19 Nov 2009 17:27:57 -0600

Kristina Pratt shares an unfortunate learning experience and educates buyers about working with an agent.

Via Kristina Pratt, REALTOR® - GoshenRealtyGroup.com (St. Louis' Illinois Suburbs - RE/MAX Preferred Partners):

Everything was perfect. I had a first time buyer that was pre-approved and motivated to find their dream home. We spent countless hours together. He relied on my expertise and market knowledge, and I happily showed him house after house. We met for consultations.

Then we wrote two offers together. One finally got accepted, but the whole house inspection turned up sour, so we began the process over again. I thought everything was going great. Until the phone call...

John: "Hi, Kristina? This is John Doe. Did I sign anything with you saying I had to buy a house through you?"

Me : <stunned silence> "Umm, well not specifically. Why?"

John: "Well, I knew you had family obligations today so I was driving around on my own. I drove past one of the houses you e-mailed me, and I really really liked it. So, I called the agent on the sign. She came out right away and showed it to me. And you know, what? She told me I could actually get a better deal if I bought directly from her. We went straight to her office and wrote an offer and guess what? It got accepted by the sellers! Isn't that awesome? I just wanted to tell you thanks for all your hard work. I'll send you a Christmas present."

<click>

I felt like the wife that just found out her husband cheated on her. Did the buyer know any better? Probably not. He wasn't trying to keep me from getting a paycheck. He simply didn't know - because I didn't tell him any different. He thought I would be sincerely excited that he got the house he wanted. Did the agent know better? Probably, or he wouldn't have asked me if he had signed anything.

This was back in 2005, when I first got my license. Since then, I've found that I have to be the one to educate my buyers. Although I've still had a few buyers get cold feet, their financing falls apart, or they just flat out change their minds - I rarely have a buyer call the agent on the sign.

So how do you keep your buyer from straying? It's simple - just educate them about the process. If you don't focus on building a relationship with your buyer and explaining to them that they have responsibilties in the process too, who will? The answer is either no one or another agent. Remember, most buyers (especially first time buyers) don't know the inner workings of real estate. These are the five key points I tell all of my buyers.

1. Don't call the agent on the sign. I will do everything in my power to be available during the times that you need appointments, but I'll need some notice. If I can't show you homes at that time, my partner can.

2. I'm your advocate. I'm looking out for your best interests, and I want to get you the best deal. I'm on your side in this process and we are a team.

3. I don't get paid a salary, or per house I show. I only get paid when you buy a house.

4. I'm making a commitment to you to share my time, expertise and market knowledge. I need you to make a commitment to me that I am your agent. (After a few showings or when it's time to write the first offer, this is when I bring out the buyer's agency agreement.)

5. If we work together, we can have a successful outcome.

The key point is this - Never forget that although we do this every day, not everyone does. It may seem simple to us, but to others it's not. Help your buyers understand how the process works - it's not just for your benefit, but for theirs.
About the Author: Kristina Pratt is a REALTOR® with Goshen Realty Group at RE/MAX Preferred Partners in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.GoshenRealtyGroup.com or e-mail Kristina@GoshenRealtyGroup.com

Urban Spaces Tour ~ San Antonio

Mon, 16 Nov 2009 21:42:56 -0600

The Downtown Alliance has announced their annual Urban Spaces Tour, a walk through some of downtown's best living spaces.

The tour will be held on November 20 and will showcase a mix of spaces such as private lofts, apartments, and even exceptional offices.

In addition, drinks are served before the tour and both food and drinks are served after the tour.

This year's tour will be of the west side of downtown and the first property on the tour will be the penthouse at the Morris Apartments on Main Plaza. Tours start at 4 p.m. and depart every 30 minutes.

Click here to purchase tickets. The cost is:

Students, $25
Active duty military $35
Downtown Alliance members $55 or $100/couple or $300 for a group of six members.
The public, $60 or $110/couple or $330 for a group of six.

Ticket prices will increase to increase by $5 on Nov. 17.

Enjoy the the food, the drinks and the tour!

Morris Apartments

Fredericksburg, TX ~ Rockbox Theater

Fri, 13 Nov 2009 12:39:10 -0600

Rockbox Theater ~ Fredericksburg, TX

ActiveRainer Kathleen Cooper got it started (I think, or maybe she passed it on) on Facebook and I am doing it, too. A Thanksgiving challenge to post something every day until Thanksgiving that I am thankful for, that is. Today I posted:

Today I am thankful for the Volunteer Appreciation party given by our church last night. (Community Bible Church, www.communitybible.com) Surprise entertainment was provided by the Rockbox Theater out of Fredericksburg. I can't say enough about what a wonderful evening it was. Awesome energy, fun, music, humor by true professionals. My husband especially enjoyed the music of the Eagles but the entire show was great, including the moving tribute to our veterans at the end. We will be making the short trip to Frederickburg to see these talented performers again in the near future.

"From Buddy Holly to the Beatles, Sgt. Peppers to Stevie Ray - you are sure to hear your favorites at a Rockbox performance. We play tunes from the Golden Era of Rock N' Roll. The 50s, 60s, 70s, 80s, 90s and even music of today are all represented (although not each at every show!) We have the only professionally cast LIVE Rock N' Roll show in the Texas Hill Country."

graphic: rockbox theater.com

Check out their website: www.rockboxtheater.com

I was surprised to see how many volunteers we have. My husband guesstimates there were about 2,000 people in attendance last night's event. Of course, some of these people may have been spouses of volunteers but usually if one spouse volunteers, so does the other. Also, I noticed the absence of some volunteers last night.

Up Time

Fri, 13 Nov 2009 11:44:34 -0600

Breakfast in Texas

Thu, 12 Nov 2009 10:03:27 -0600

New Homebuyer Tax Credit Overview.

Mon, 09 Nov 2009 11:48:32 -0600

Here is more great information about the new homebuyer tax credit from George Souto.

Via George Souto (McCue Mortgage) FHA, CHFA, VA Mortgages CT.:

As promised below is an overview and comparison between the present Tax Credit and the New. The information below was just given to us by Senator Dodd's Office.

Homebuyer Tax Credit Overview:

First‐time homebuyers (those who have not owned a principal residence in the three years prior to the purchase date of their subsequent home) are eligible for a refundable tax credit of 10 percent of the purchase price of a principal residence up to $8,000 for homes bought between January 1 and December 1, 2009.

If the home is sold within three years, the taxpayer must pay back the credit (called "recapture").

Income limits for the current credit are $75,000 for single filers and $150,000 for joint filers, phasing out completely after $95,000 for individuals and $170,000 for couples. Income limits are based on Modified Adjusted Gross Income (MAGI).

Extended and Expanded Homebuyer Tax Credit:

Extends the availability of the $8,000 first‐time homebuyer credit to taxpayers who have a principal residence under a binding contract before April 30, 2010, allowing 60 days to close.

Creates a new $6,500 credit for move‐up buyers. Move up buyers are defined as people who haveLike the credit for first‐time buyers, lived in their current home for 5 or more consecutive years during the 8 year period ending on the date of purchase of the their subsequent principal residence. this credit is available to taxpayers who have principal residences under a binding contract before April 30, 2010, allowing 60 days to close.

Raises the income limits for both the first time and move‐up buyer to $125,000 for single filers, $225,000 for joint filers with a $20,000 phase‐out. The $20,000 phaseout means that no credit can be claimed by those with MAGI above $145,000 for single filers, $245,000 married joint filers.

Both the first‐time and move‐up credit are available for principal residences with a purchase price up to $800,000. Purchase price is defined as the adjusted basis of the principle residence on the date such residence is purchased.

Includes strong anti‐fraud provisions:

Gives the Internal Revenue Service math error authority which they have requested when processing IRS form 5405. This would allow the IRS to correct certain errors during credit processing, and avoid the need for a post‐refund, labor intensive audit.

Requires a copy of the settlement statement (HUD‐1) which would verify the date of purchase, the residence address, and the purchase price.

Introduces an explicit age limitation, allowing no one under 18 to claim the credit

Excludes individuals who are claimed as dependents and married individuals who purchase the home from the family of their spouse from claiming the credit

Eliminates the recapture requirement for military personnel and members of the Foreign Service and intelligence community who are forced to sell their homes within three years as a result of an official extended duty of service. In addition, these individuals have one additional year to qualify for the credit if they served for at least 90 days outside the U.S. in 2009 or 2010.

Purchases made in 2010 can be claimed on the 2009 tax return.

The score of $10.8 billion over 10 years is paid for by a seven year delay of the worldwide allocation of interest rule until 2017, not stimulus funds.

Effective after the date of enactment.

Homebuyers who were eligible for the first‐time homebuyer tax credit pre‐WHBAA will be able to continue to claim the credit. Homebuyers who qualify for the credit under the expanded terms will only be able to claim the credit if they close on their home purchase after the date of enactment of this bill (the binding contract can be signed before enactment).

Some of this, like any new Legislation, is going to take a few days to fully understand. As further clarification is made available I will try to provide it.

*****************************************************************************************************************

Info about the author:

George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

How the First Time Homebuyer Tax Credit Looks to the Consumer

Mon, 09 Nov 2009 11:27:00 -0600

Via Larry Bettag - Cherry Creek Mortgage:

The National Association of Realtors (also known in the industry as NAR) has a great Frequent Asked Questions communique for the consumer. Things are so different from the current version of the bill that consumers need to be aware of what this bill encompasses.

YOUR CONTRACT NEEDS TO BE SIGNED BY APRIL 30th and Closing by June 30th.

Question: Existing homeowner credit: Must the new house cost more than the old house?

Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit.

Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?

Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.

Question: I am a firsttime homebuyer but was not within the prior income limits at the time I entered into my contract to purchase on October 30, 2009. I will be covered, however, by the new income limits. If the new rules have been signed into law by the time I go to settlement, will I be eligible for a credit?

Answer: Yes. The new income limitations go into effect as soon as the President has signed the bill. The income limit and other eligibility rules will look to your status as of the date of purchase, which is the settlement date. So if the new rules have been signed when you go to settlement, you should be eligible for the credit (or a portion of the credit if you're within the phaseout range).

Question: I am an eligible existing homeowner. I have a fair amount of equity in my home. I have found a home with a nonnegotiable price of $825,000. Will I be able to use any of the $6500 tax credit?

Answer: No. The $800,000 cap on the cost of the purchased home is firm at $800,000. Any amount above $800,000 makes the home ineligible for any portion of the credit. The $800,000 is an absolute ceiling.

Question: I owned my home for 10 years, but sold it two years ago year and have been renting since. If I purchase a home, will I be eligible for the $6500 tax credit if I meet all the other eligibility tests?

Answer: Yes. Because you lived in the home for more than 5 consecutive years of the previous 8, you will qualify for the $6500 credit. For example, Say John and his wife bought a home in 2000 and lived there until 2008 when he got a divorce. Whether John has been renting or bought in the interim, he WOULD INDEED be eligible for the credit because he owned a home and occupied it as his principal residence for 5 consecutive years out of the last 8 years. The keyword here is "consecutive." As long as he lived in that house for 5 years straight what he did since 3 years doesn't impact eligibility.

Question: I am an eligible firsttime homebuyer. I entered into a contract to purchase on November 1, 2009. Do I have to go to closing before December 1? How does the extension date affect me?

Answer: You do not have to close before December 1. Once the legislation has been signed, it will be as if the Nov 30 date had never existed. Therefore, so long as the contract settles before April 30 (or July 1, worst case), the purchaser will be eligible for the credit.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Would you like to foster a puppy for a good cause?

Wed, 04 Nov 2009 10:55:56 -0600

Would you like to foster a puppy for a good cause?

TSA Canine Breeding and Development Center

The National Explosives Detection Canine Team Program

Would you like to join others in the community who are helping to fight the war on terrorism? You can do so by fostering a TSA puppy. Potential puppy foster homes must be in the San Antonio and Austin communities and have

a secure fenced yard
a vehicle in which the pup can be transported
no more than 2 other dogs in the home
the patience to raise a pup from 10 weeks to 12 months of age

Vist the website at www.tsa.gov/lawenforcement/programs/puppy_program.shtm or call 210-671-1624.

graphic: tsa.gov

Recovery and Reinvestment Act ~ Arts Grants in San Antonio

Mon, 02 Nov 2009 12:21:11 -0600

American Recovery and Reinvestment Act ~ Arts Grants in San Antonio

National Endowment for the Arts

FY 2009 Grant Awards: Texas

American Recovery and Reinvestment Act

Nineteen nonprofit arts organizations in Texas, including two in San Antonio, are receiving grants to support the preservation of jobs that are threatened by declines in philanthropic and other support during the current economic downturn. The 19 Texas grants total $775,000.

International Accordion Festival
San Antonio, TX
$25,000
CATEGORY: American Recovery and Reinvestment Act
FIELD/DISCIPLINE: Folk and Traditional Arts

Southwest School of Art & Craft
San Antonio, TX
$50,000
CATEGORY: American Recovery and Reinvestment Act
FIELD/DISCIPLINE: Visual Arts

Number of Grants: 19 Total Amount: $775,000

Speechless Sunday ~ Military Tribute

Sun, 01 Nov 2009 22:26:48 -0600

Are you paranoid? I am...

Sat, 31 Oct 2009 09:19:55 -0500

Are you paranoid? I am and for a very good reason.

My stepson was in town for a couple of days this week attending a law conference. He treated us to dinner Tuesday night and shared some stunning news. He said a former law partner had died the day before of complications from the H1N1 virus. The attorney had become sick 10 days before, slipped into a coma, and died from complications of pneumonia. I googled for more information on the virus in the Dallas/Ft. Worth area and found that 155 people have been diagnosed with H1N1 and 11 of those have died.

I have been unable to find numbers for H1N1 in San Antonio but we are being cautious. I made an appointment to get the pneumonia vaccine but had to cancel that; now we are getting it on Wednesday. We are mostly staying home, avoiding crowds. Yesterday I went to the bookstore but wore gloves while handling books. We are members of a very large church so I am thinking about not attending services for a while. I will still hand out candy tonight although my husband thinks we may not have many trick-or-treaters because of H1N1. I will wear a mask and drop the candy in containers rather than letting the kids get their own. We still have to go to the grocery store... so if you see someone shopping while wearing a mask and gloves, that will probably be me!

San Antonio homes for sale ~ Deerfield ~ 78248

Wed, 28 Oct 2009 16:32:56 -0500

San Antonio Homes ~ Deerfield ~ 78248

Deerfield is a well-established neighborhood located inside Loop 1604 off Huebner and Bitters. Here you will find homes with mature trees with easy access to shopping, restaurants, entertainment, and great schools. There is a community center in the neighborhood with a pool, tennis, and park. Deerfield is convenient to the South Texas Medical Center, Stone Oak, Valero Energy, and USAA.

There are currently 22 single family detached homes for sale in Deerfield. To see any of these homes, give me a call at 210-414-0966.

HVCC Update

Tue, 27 Oct 2009 14:07:54 -0500

Via Larry Bettag - Cherry Creek Mortgage:

HVCC Update. The petition that has been going around seems to have finally made its way to congressional leaders. The House Financial Services Committee has been receiving lots of noise as to the negative affects that this law is having on the consumer. More importantly, the representatives are hearing the nightmare stories that have come along with it. Stories include shoddy appraisers being allowed to "get back in the mix" even though companies have blacklisted them. Appraisers from Illinois going to Milwaukee to appraise properties where they have no knowledge of the local markets. Four bedroom homes being appraised as two bedroom homes, etc.

It's ridiculous if you ask me. Here's the petition as it came to me.

If you haven't done so yet, please sign the petition below. Here's the text as it was forwarded to me yesterday. Just read the first sentence. That's enough to peak your interest alone.

We have HVCC on the ropes so we need your help more than ever!

On Wednesday, October 21st, the National Association of Mortgage Brokers used this petition hvccpetition.com to help convince the House Financial Services Committee to pass an amendment that will finally put an end the mess that HVCC has been making of the real estate and lending industries. More than the 102,000 signatures on the petition, it was the pace at which the petition is growing and the HVCC horror stories signers included with their electronic signatures. Now more than ever we need everyone to rally behind this cause to make absolutely certain it continues to gain the momentum necessary to make it through the House and Senate votes that are forthcoming. Please, please, Please, sign this petition if you haven't done so already and more importantly, send it to everyone you know in any sector of the real estate and lending industry as well as to all the current, past and future clients in your database. The new petition website makes it abundantly clear how all homeowners are losing equity and being harmed directly by HVCC as well as how it is blocking any chance at the real estate recovery our economy needs so desperately. Everyone you send to hvccpetition.com will be indebted to you for looking out for their best interest. We won the first of three battles which is more than anybody thought could happen and if we get serious and rally together now for one last massive push we should be able to put HVCC behind us forever. Thank you for your time, effort and support.

Click here to see our interview with the president of NAMB thinkbigworksmall.com/mypage/player/tbws/19036/-4592

hvccpetition.com

Frank Garay and Brian Stevens
Co-Hosts of the TBWSDaily.com real estate news program tbwsdaily.com
"Concerned advocates for a better real estate industry"

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172





An Illinois Residential Mortgage Licensee

Halloween Costumes and Candy

Tue, 27 Oct 2009 10:44:05 -0500

Halloween Costumes and Candy ~ What kind of candy do you hand out? Do you wear a costume?

Each year our neighborhood has lots of trick-or-treaters on Halloween night and I enjoy handing out candy almost as much as the kids enjoy getting it. The scary masks my husband and I put on are always quickly removed since the little kids are easily frightened. Maybe this year I will buy something friendlier to wear.

I decided to hand out mini M&Ms this year since I end up treating myself to the mini Snickers bars that I traditionally hand out. Actually, I also like M&Ms or any chocolate candy.

The most popular Halloween costumes this year are:

Michael Jackson
(Harry Potter) Gryffindor
The Vampire
Miley Cyrus
Star Trek
Zombie
GI Joe Ninja
Hermione Granger

(About.com)

I find this kind of hard to believe but who knows...

From the www.hersheys.com website: "To help trick-or-treaters map their routes this Halloween, Hershey conducted a national survey to find out which houses were handing out their favorite Hershey treats. Following are some "tricks" to increase the odds of receiving desired "treats":

Houses with black shutters are 77 percent more likely to hand out Kit Kat Wafer Bars and trick-or-treaters have a 37 percent greater chance of scaring up a Kit Kat Wafer Bar from a ranch house.
Reese's Peanut Butter Cup lovers should forego ranch houses and opt instead to ring the bell of two-story houses where they'll have a 26 percent greater chance of receiving the perfect combination of chocolate and peanut butter.
Knock on brown doors if seeking Hershey's Milk Chocolate Bars. Trick-or-treaters have a 32 percent greater chance of receiving a Hershey's Milk Chocolate Bar from homes with brown doors."

Butterfly Invasion ~ They're not what you think

Sun, 18 Oct 2009 21:47:19 -0500

The past couple of days have brought us an invasion of butterflies all over San Antonio. Although they are smaller than Monarch butterflies, we at first thought they were Monarchs migrating south to Mexico. They have similar coloring to the Monarch.

Well, we were wrong. It turns out that these are American Snout Butterflies that are born right here in San Antonio. The sudden population explosion is simply a sign that our drought is now over. During a time of drought they don't breed but after a drought is over they breed on the leaves of the Hackberry trees. It takes about 10 to 15 days to produce the butterflies; first the eggs hatch, the caterpillar eats, and they then turn into butterflies.

Sadly, some of them have sacrificed their lives on our windshield. They should be around for about two weeks, according to a zoo spokesman via Randy Beamer, WOAI. I don't know where they go after that... maybe south to Mexico?

I'm thinking tonight of my blue eyes.....

Thu, 15 Oct 2009 23:35:30 -0500

Extending the First Time Home Buyers Credit for Military Families

Tue, 13 Oct 2009 11:38:45 -0500

Via Cindy Jones-Northern Virginia Real Estate & Military Relocation Services (RE/MAX Allegiance #1 RE/MAX Company in the World):

The US House of Representatives overwhelming voted to extend the first time home buyers credit for an additional 12 months to anyone in the military who has served overseas for three months in 2009. In a vote of 416 to zero the bill now has to go the US Senate and the President for final approval.

This extension could give up to 350,000 military families currently deployed overseas unitl November 2010 to take advantage of the current tax credit. In addition the IRS "recapture" rules will be waived for any service member who is deployed and must sell or rent their home.

Known as the Service Members Home Owners Tax Act this bill also contains the provision to waive the income tax liability currently in the expanded Department of Defense Homeowners Assistance Program.

The next step for this bill (HR 3590) is for the Senate Finance Committee to review the bill and hopefully move it to a vote in the full Senate.

This seems to be one time that the US Congress, Senate and President should be able to agree. Extending the tax credit for our military is the right thing to do no matter what your political beliefs.

Quotes from American History

Sun, 11 Oct 2009 12:36:02 -0500

"Resolved, that there are certain essential rights of the British Constitution of government, which are founded in the law of God and nature, and are common rights of mankind. No law of society can, consistent with the law of God and nature,' take those rights away." - Samuel Adams.

"Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty, or give me death!" - Patrick Henry

"It having pleased the Almighty Ruler of the universe propitiously to defend the cause of the United American States, and finally by raising us up a powerful friend among the princes of the earth, to establish our Liberty and Independence of lasting foundations." - George Washington

"In your hands, my dissatisfied fellow countrymen, and not in mine, is the momentous issue of civil war. The government will not assail you.... You have no oath registered in Heaven to destroy the government, while I shall have the most solemn one to preserve, protect and defend it." - Abraham Lincoln

"We meet this evening, not in sorrow, but in gladness of heart. The evacuation of Petersburg and Richmond, and the surrender of the principal insurgent army, give hope of a righteous and speedy peace whose joyous expression cannot be restrained. In the midst of this, however He from whom all blessings flow, must not be forgotten." -- Abraham Lincoln

Is this the future of mortgage closings?

Sat, 10 Oct 2009 12:26:42 -0500

Paperless home mortgage closings have arrived. Is this the future of closings?

Alamo Premier Mortgage Group is the first San Antonio lender to offer 100% paperless home mortgage closings.

Using the eClose system, loan documents can be reviewed online and signed using a digital pad. The system is designed to streamline the closing process and reduce the amount of time spent at the title company.

The process is simple. The parties to the transaction receive an email copy of all the documents, and the attorney's office that prepared the documents calls and goes over the numbers to make sure the information is what was expected. Alamo Premier Mortgage says "the process takes less than 10 minutes versus 90 minutes under the old title company closing." With eClose the loan can be closed at the mortgage company or a notary can go to your home or place of employment. This is especially convenient for transactions that involve buyers or sellers who may be living in a different area of the country.

Is this the future of mortgage closings?

graphic: Alamo Premier Mortgage

The Shape of Texas ~ Listen & Learn

Tue, 06 Oct 2009 15:23:37 -0500

The Shape of Texas ~ Listen and Learn

The Shape of Texas is a radio program that is broadcast through NPR-affiliated stations. It provides vividly descriptive information about contemporary and historical architecture and places in our state which defines the culture and heritage of Texas. The program seeks to lead listeners to look at our "built environment" with a "fresh and knowing eye." I listened to several of the tracks today and learned a lot that I previously didn't know, adding to my appreciation of my home state.

The online archive includes mp3 audio of Volumes 1 thru 467 as well as photographs for selected episodes. To listen to episodes click here, Episode Index, for a list of The Shape of Texas tracks. Enjoy!

www.texasarchitect.org

A reminder for Texas disabled vets

Fri, 02 Oct 2009 10:21:12 -0500

A reminder for Texas disabled vets

Under a new tax exemption approved by the Texas Legislature, military veterans who are totally disabled or cannot work because of service-related injuries will no longer be required to pay property taxes on their homes.

House Bill 3613 provides an exemption of the total appraised value of the homesteads of Texas veterans who have received a 100 percent disability rating or are considered unemployable by the U.S. Department of Veterans Affairs. The new law is effective for the 2009 tax year.

Eligible disabled veterans must apply for the tax exemption through their county appraisal district. An application form for veterans and appraisal districts to use can be found on the Texas Comptroller's Web site at http://www.window.state.tx.us/taxinfo/taxforms/vetexempt.pdf .

Veterans should also contact their mortgage lenders to adjust their escrow payments if needed.

I Like This...

Thu, 01 Oct 2009 19:28:11 -0500

Wordless Wednesday ~ Los Patios shop window

Wed, 30 Sep 2009 20:46:10 -0500

Architectural Detail from the MKT (Missouri-Kansas-Texas) depot located near downtown San Antonio. The depot was demolished in 1969 but this beautiful piece was left intact and moved to Los Patios.