austin texas real estate: For the Fifth Week In A Row - Mortgage Rates Hit A New All Time Low - 08/29/10 04:58 PM
The 30 year rate fell from 4.42 to 4.36 this week. This is the 6th week in a row where rates have fallen. But more importantly this is the 5th week where we have hit a new all time low. In that time the 30 year rate has dropped from 4.57 to 4.36. Considering that 4.57 was an all time low this is a decent drop.

The 15 year dropped from 3.90 to 3.86. The 5 year arm stayed even at 3.56 and the 1 year arm dropped from 3.53 to 3.52. These were all time lows for the respective … (4 comments)

austin texas real estate: Mortgage Rates Hit A New All Time Low (For the Fourth Time This Month) - 08/18/10 05:02 PM
The 30 year rate fell from 4.49 to 4.44 this week. This is the 4th week in a row where rates have fallen. What's interesting is not only is 4.44 an all time low. But we have been hitting new all time lows for the last 4 weeks in a row. What is even more interesting is no one cares. The market is hardly reacting to bizarrely low interest rates. It's also gotten very little play in the press which might be a contributing factor.

The 15 year dropped from 3.95 to 3.92. The 5 and 1 year arms dropped … (1 comments)

austin texas real estate: Can You Influence What Airs On TV? - 08/06/10 04:45 PM
It never fails. You're flipping through the channels looking for a good program to watch and you bump into one that is not the type of programming you'd expect to see on a particular station. Television has gotten racier and racier over the years. It used to be that stations couldn't use certain language, and they were very restricted as to how much flesh they could show. The FCC has become lax in what they allow to be aired, however, and programming directors are taking full advantage of it.

Many say, "If you don't want to watch it, just change … (2 comments)

austin texas real estate: 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)

austin texas real estate: Recipe for a Successful Real Estate Investment - 07/05/10 06:53 PM
There are a few wants that home buyers perceive as needs when shopping around for a home. As you're shopping for your next home, you may not have any idea how long you will live there as you may need to sell at some point. With that in mind, consider some practical features potential home buyers look for when buying their next home. That way yours will be positioned for quick sale if or when you decide to put it on the market in the future.

Basic Functions

When you bought your first home, things like central air, a … (1 comments)

austin texas real estate: After Hitting Record Lows Mortgage Rates Fall Again - 07/05/10 06:50 PM
The 30 year rate dropped this week from 4.69 to 4.58. This is quite a large drop for a week. What makes it even more interesting is that 4.69 from last week was already an all time historic low. We are moving into territory for mortgage rates I would have never thought possible.

While the 30 year rate is the mortgage product that is the most widely used some of the other mortgage products made records as well. The three other mortgage products all hit all time lows last week. Two of the other three mortgage products fell further this … (1 comments)

austin texas real estate: 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)

austin texas real estate: A Day at the Ballpark - 06/05/10 09:44 PM
For some reason a beer and a hot dog just taste better at the ballpark. Arlington has the Texas Rangers and Houston has the Astros, but Austin has its own baseball team just up the road in Round Rock. The Round Rock Express may be a minor league team, but they've got big league appeal. To begin with, the team is owned by Major League Hall of Famer Nolan Ryan.

Ryan and Houston businessman Don Sanders bought the Double AA team in 2000 and made the Dell Diamond the new team's ballpark. With Ryan's son as president of the team, … (3 comments)

austin texas real estate: 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)

austin texas real estate: Discover Adventures Around the Bend - 05/26/10 07:22 PM
Nestled in the crook of the Rio Grande as it snakes its way between the United States and Mexico is Big Bend National Park. This 800,000 acre park is located in the southwest corner of Texas, almost 500 miles from Austin. Big Bend National Park is described as being three destinations in one, with deserts, mountains and rivers. It has the distinction of being the largest protected area of the Chihuanhuan Desert in America.

Perhaps not a well known area, however, the Chihuahuan Desert is the largest desert in North America. The majority of its vast expanse is located in … (0 comments)

austin texas real estate: Mortgage Rates For The 5 and 1 Year ARM Hit All Time Lows - 05/15/10 08:07 PM
The 30 year rate fell from 5.00 to 4.93 this week. In a time where the news is filled with stories about inflation fears we are seeing mortgage rates steadily decline. This is the 5th week in a row where rates have held steady or fallen. Its also the lowest we have seen rates in 2010.

The 15 year dropped from 4.36 to 4.30. This is only slightly above the all time low of 4.27 for the 15 year fixed mortgage.

The 5 year arm dropped from 3.97 to 3.95 which is an all time low for the 5 … (1 comments)

austin texas real estate: Mortgage Rates Come Back Down To Earth - 04/21/10 05:43 PM
For the last few weeks the buzz in the real estate industry has been that rates are rising and that rates are going to go up even more. So it was somewhat of a surprise to see rates plummet this week. The 30 year rate dropped from 5.21 to 5.07 this week. 5.07 marks the lowest point in March.

The 15 year dropped even more falling from 4.52 to 4.40. The 5 and 1 year arms both dropped from 4.25 to 4.08 (5 year arm) and 4.14 to 4.13 (1 year arm). For the first time in several months … (4 comments)

austin texas real estate: The Current State of the Texas Economy - 04/21/10 05:38 PM
A recent Associated Press survey on the economy by economists didn't paint a pretty picture. Home values are stagnant, consumers are still cutting back and not enough jobs are being created. While all of this is true in Texas, too, the Lone Star state still seems to be weathering the economic "recovery" better than other states.

In fact, Austin was the featured city in a recent Time magazine cover story on jobs. At a time when other cities are still shedding jobs, Austin is actually creating new jobs. The article featured tech, construction and energy companies that are hiring in … (1 comments)

austin texas real estate: Mortgage Rates : Volatility is on the Horizon - 03/28/10 08:25 PM
The 30 year rate rose from 4.96 to 4.99 this week. In the last 4 weeks 30 year mortgage rates have remained remarkably stable staying between 4.95 to 5.05. But it looks like that might change over the next few months. The economic instability in Greece and the rest of Europe could lead to instability in the mortgage markets, in addition the US government is likely to stop purchasing mortgage backed securities which could cause rates to rise. At the very least we should start seeing more volatility in mortgage rates for the rest of the year.

The 15 … (0 comments)

austin texas real estate: 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)

austin texas real estate: Mortgage Rates Fall Again - 03/16/10 07:00 PM
The 30 year rate fell from 4.97 to 4.95 this week. This is the 2rd week in a row where rates have fallen. The expectation has been (for several months) that rates were going to rise. It looks like an economic recovery, which is somewhat more tepid than expected, has stopped rates from rising. Instead at least the 30 year rate has remained remarkably stable. For most of 2010 the 30 year rate has stayed between 4.9 and 5.1. The 15 year dropped from 4.33 to 4.32. The 5 and 1 year arms dropped from 4.11 to 4.05 (5 year arm) … (0 comments)

austin texas real estate: Clever Tips on Decluttering Your House - 02/28/10 06:16 PM
If you're plagued with clutter and need some tips on how to get it under control, you've come to the right place. Some of the most common clutter issues involve incoming mail, collections of sentimental items and seasonal decorations. Many also struggle with what to do with clutter in closets, home offices and unused bedrooms. Extra furniture can be a problem, and laundry rooms and attics are clutter magnets. Some clutter involves areas that are sight-unseen, so they are easier to not address.

First, let's deal with incoming mail. Two rules to incorporate are open mail daily and touch it … (5 comments)

austin texas real estate: How to Become a Successful Real Estate Agent - 02/23/10 05:33 PM
What does it take to become a successful real estate agent and maintain that status?

With all the real estate agents in the troubled market right now, it's not surprising that new agents often don't last and brokers are finding it difficult to keep them. Although brokerages can assist new and existing agents in developing and honing their selling skills, there is one common trait to which all successful real estate agents attribute their success - the need to close the sale, and in record time.

It's amazing how many people think that being a real estate agent … (5 comments)

austin texas real estate: Mortgage Rates The Volatility is Gone - 02/08/10 04:07 PM
After dropping for 4 weeks in a row the 30 year rate rose slightly this week moving from 4.98 to 5.01. The 15 year rose from 4.39 to 4.40. The 5 and 1 year arms rose from 4.25 to 4.27 (5 year arm) and 4.29 to 4.22 (1 year arm). Below are rates from the weeks from Jan 07, 2010 to Feb 04, 2010

Feb 04, 2010
30-fixed 5.01 15-fixed 4.40 5 ARM 4.27 1 ARM 4.22

Jan 28, 2010
30-fixed 4.98 15-fixed 4.39 5 ARM 4.25 1 ARM 4.29

Jan 21, 2010 … (3 comments)

austin texas real estate: Avoid These Mistakes When Flipping a Home - 01/31/10 06:02 PM
Experienced home flippers know that there are pitfalls to any promising piece of property, and avoid the most obvious ones. You can, too. Learning from others' mistakes can result in huge rewards if you find you are ready to start a home flipping business.
The following are pitfalls and mistakes to avoid and how to work some of the situations to your advantage.
1. If your financial situation is not healthy, don't start flipping just yet.
If you do not have the following necessities in place, put flipping on the back burner for now:
* Full-time job.
* Income that allows … (3 comments)