first time buyer: Now that the Election is History, Is this a good time to buy? - 11/08/12 11:11 PM
Now that the election is history, is this a good time to buy?  Here are the factors to consider:1.  Interest rates - Right now, Interest Rates are still at historic lows.  A .5% change in Interest Rate affects your payment the same as a 6% price increase.  For each $100,000 of loan, a .5% rate increase raises the payment by approsximately $30 per month.  Similarly, a $6,000 increase in the loan raises the payment by approximately $30 per month.  So, home prices will have to drop by 6% for every .5% interest rate increase.  That's not likely to happen.2.  Housing demand is … (1 comments)

first time buyer: This is NOT the Time to Hide for Six More Weeks! - 02/02/10 02:14 AM
Today, the world's most famous weather forecaster, Punxsutawney Phil, emerged from his den, saw his shadow, and scurried back to rest for six more weeks.  If you missed this landmark event, you can find the story here:  http://www.msnbc.msn.com/id/35194650/ns/us_news-life/
The contrarian pretender, Staten Island Chuck, did not see his shadow, and thus, predicted an early spring.  http://news.puggal.com/staten-island-chuck-21209/  So it always is:  To paraphrase an old economist joke, "If you took all the forecasters in the world and laid them end-to-end, they wouldn't reach a conclusion."
Opportunity occurs when everyone else is playing it safe.  By the time Phil emerges, the rewards of … (1 comments)

first time buyer: What does it mean that rates are approaching historic lows? - 10/07/09 02:57 AM
What happens when mortgage rates drop?  Lots of good things:
•     ALL homes become more affordable - Those who couldn't afford to buy can finally take the first step.  Those who wanted to move-up can finally afford to buy their dream home.  Investors can take advantage of bargain prices to lock in solid cash flow.
•     Builders can build more homes, and employ lots of folks, buy supplies, make payrolls.
•     People stuck in a high interest mortgage can refinance at a reasonable rate.  (Now, we don't originate or participate in any mortgage loans, but we know several quality lenders with … (1 comments)

 
Ellen & Doc Stephens, Doc & Ellen Stephens (Keller Williams Realty)

Ellen & Doc Stephens

Doc & Ellen Stephens

San Antonio, TX

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Keller Williams Realty

Address: 10999 IH-10 West, Suite 175, San Antonio, TX, 78230

Office: 210-696-9996 ext 409

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