mortgage: Thoughts and Trends Concerning Austin Housing Market
- 07/09/25 06:13 AM
If you are thinking about buying or selling your home, you may be wondering what is happening in Austin as of 2025 and 2026. The short answer is a mix bag. As of the spring of 2025, prices are somewhat stable with a slight dip and increasing inventory of homes on the market. The number of homes sold in the Austin-Round Rock-San Marcus metro area in 2025 is down from the prior year. In addition, the median home prices are slightly less than the previous year. As of February 2025, home prices are still higher than the national average, but growth … (0 comments)
|
mortgage: Different Types of Homeowners Insurance
- 04/30/25 08:33 AM
As a homeowner you need to have either homeowner’s and/or dwelling fire insurance policy. What is the difference between the two types of policies? Homeowner policy is a package policy that covers physical damage to property and legal responsibility for injury that occurs on the property. This type of policy offers three levels of coverage: actual cash value, replacement cost, and guarantee/extended replacement cost. These policies do not include coverage for flooding, earthquakes and poor maintenance. A dwelling fire policy covers the structure of a property against damage from specific perils, like fire, wind, or hail, but typically not contents. Homeowners … (0 comments)
|
mortgage: When is The Proper Time to Buy a House
- 03/19/25 07:33 AM
Many people are trying to determine when the proper time is to purchase their first house, downsize or upgrade to a new home. Before making the decision need to determine how much your current home is worth, understand interest rates are not going to drop below 5.5%, and can I afford the down payment. If you can afford the down payment, this will help you to build equity. If not true, you probably need to wait, pay off debt and improve credit score. Homeowners who are waiting for prices and mortgages to drop will probably be disappointed. In the long-term prices … (2 comments)
|
mortgage: Concerns About Selling Your House
- 01/07/25 06:24 AM
Some people are trying to make the decision whether this is the proper time to sell their home. The following are a few questions and answers that may help you with this decision:
Should I Sell - Thinking about selling your home now or waiting until after mortgage rates come down. Currently mortgage rates are forecast to reduce but waiting may cause you to deal with greater competition as other buyers may be getting back into the market. This means that you may have to deal with rising prices and multiple offers when moving forward.
Buyers – There are buyers out there willing … (2 comments)
|
mortgage: Rent or Buy a Home
- 11/18/24 07:10 AM
Many people will make the decision whether it is best for them to rent or buy a home. Each option has advantages and challenges depending on the person’s circumstances and their long-term goals. Now let’s highlight some of the key factors:
Cost factor – In some areas renting may be less expensive for the short term. Renting allows you to pay a fix amount each month, and the landlord is responsible for maintenance and repairs. This can be appealing for the short term, especially if you need flexibility or will be moving in the short term. Housing costs when renting are monthly … (1 comments)
|
mortgage: Buying a Home is Shifting in Favor of Buyers
- 08/20/24 06:32 AM
Recently the National Association of Realtors (NAR) has been stating that home sales have been falling, even as home prices have been rising. They are saying opportunities for home buyers are opening up. Currently median home prices and interest rates are higher, and this is making buyers skittish, but this may not last much longer. Home sales have dropped slightly over the past year and the median price has reached a high point in many locations. Now supply and demand have neared a balance market, and the inventory of houses has reached the highest point in four years, moving into a … (5 comments)
|
mortgage: Better to Rent or Buy a House
- 03/19/24 06:15 AM
Before buying a house there are several considerations a person must consider before deciding. Here I am going to review some of those considerations:
Financial – When you buy a home the buyer will have higher upfront costs that includes the down payment and closing costs. The closing costs will include such costs as application, inspection, and attorney fees, etc. Mortgage rates will have an impact on your ability to buy and monthly payments. Currently, mortgage rates are showing some signs of easing and allowing buyers the ability to buy. In addition, a homeowner is responsible for all maintenance to the property, … (4 comments)
|
mortgage: Sell Home Now Before Spring Rush
- 02/20/24 06:10 AM
If you are thinking about selling your home in 2024 selling your home early in the year may work to your advantage. Timing makes a difference because home prices rise and fall like stocks. Following are a few thoughts to consider when making your decision:
Mortgage rates – In the past year sellers have been reluctant to sell because they would be paying a higher interest to replace their existing home. Recently mortgage rates have begun to fall, and predictions are expecting interest rates to settle in the mid-6% range during 2024. This means sellers will not lose as much when they … (0 comments)
|
mortgage: Ways Inflation Could Affect 2024 Housing
- 01/09/24 06:29 AM
People across the nation have felt the effects of inflation. Mortgage rates have caused a slowdown in the housing market and home buyers have delayed purchasing a new one, but homes prices have remained strong during this period. Before deciding to sell your home examine the current market in your immediate area and listen to what experts are saying about inflation and how it will affect the housing market. For instance, Goldman Sachs is saying there will be strong income growth and interest rates hikes are a thing of the past for 2024. While Morningstar is expecting a decline in inflation … (1 comments)
|
mortgage: Buyers Can Save on Their Mortgage
- 11/02/23 11:07 AM
Currently mortgage rates are in the 7% rate range. Buyers are feeling a financial squeeze and need to find a solution so they can purchase a home. Many are predicting mortgage rates will begin to fall soon and some home buyers have adjusted to current interest rates and home prices. Still many cities are experiencing home affordability issues. One way for home buyers to fight home price increases is to have a great credit score. This will allow them to get the lowest interest rate at that time therefore lowering monthly mortgage payment. Following is a list of other techniques that … (1 comments)
|
mortgage: Tips to Determine How Much Mortgage
- 05/16/23 06:30 AM
Before committing to a home mortgage be sure to calculate how much mortgage you can safely fit into your budget. Homeownership should make you feel secure and safe. This means not taking the largest mortgage that your lender will permit. As a buyer, look ahead to anticipate life event desires and how that might influence the budget. These could include going back to school and/or having a child. Factor these lifestyle issues into the budget. Remember many lenders will not understand or consider your current and future financial personal goals. Lenders base their loan approval on a formula. Following are tips … (4 comments)
|
mortgage: Factors That Affect Your Credit Score
- 03/07/23 06:23 AM
Most people are concerned about their credit score. Some of these people have credit scores that need to be improved while others have used good practices and have great credit scores. Having a great credit score does not occur overnight, it takes long term financial practices to get yourself to that point. Having a high credit score can save you a lot of money over the years. It is especially important when you want to purchase a large ticket item that must be financed. Following is a list of factors that play into credit score and how to improve your score:
On-time … (5 comments)
|
mortgage: Lesser-Known Fees That Factor into Buying a Home
- 02/15/23 06:32 AM
Many home buyers are not aware of all fees charged that makeup the total cost of purchasing a home. Some of these fees are normally paid prior to closing while others are paid at closing. Fees paid at closing will be itemize on your closing statement which you should receive a copy to review prior to closing. The fees that are lesser known to the general public will be reviewed below:
Inspections of property – As a home buyer who is hiring an inspector to perform an inspection on property that you recently signed a written contract to purchase, you need … (2 comments)
|
mortgage: Home Buyers Should Negotiate
- 01/17/23 06:30 AM
Home market shift has cause home buyers to focus on price as well as other things to make their home buying experience more attractive. Buyers need to better understand the parts of the contract to create a win-win environment for themselves. Buyers now have more inventory and less competition when purchasing a house which means they have greater opportunity to negotiate with sellers. Things buyers should consider negotiating with sellers:
Closing cost – These are fees buyers pay to close a real transaction. These fees are lender, appraisal, title search fees, taxes, etc. The amount of fees may arrange between 3-6% of … (1 comments)
|
mortgage: Tips When Buying a Home
- 12/12/22 07:25 AM
Buying a home is stressful, whether you are buying a starter home, upgrading, or downsizing. In a sellers’ market this can be extra stressful. During that cycle, buyers compete in a multi-offer environment. For some buyers it may be advisable to wait for the market to cool off. On the other hand, there may opportunities where buyers can purchase a home that meets their needs and desires. Now let us define types of real estate markets: a balance market is where supply of houses available to purchase is equal to the demand for homes. Housing prices are stable, and houses sell … (3 comments)
|
mortgage: Home Buyers Understanding Closing Cost
- 11/03/22 07:02 AM
Before starting the home buying process, be sure to take time to understand costs associated with purchasing property. These costs include down payment and closing cost. Closing cost include both prepaid and actual expenses to close the deal. Most loan types, the buyers’ credit score and down payment will be a major decision maker to determine how large a loan the buyer will qualify for. Down payment which is part of the closing cost will range between 3-20% of the purchase price of the property. Closing costs are fees charged by people involved in the purchase of the property such as: … (4 comments)
|
mortgage: Home Affordability Affected by Mortgage Rates
- 10/14/22 06:31 AM
Mortgage rates are rising in today’s housing market, and this affects how much a home buyer can afford to purchase. Likewise, your credit score and down payment have a similar affect. All of the above items have a direct effect on how large a loan you can get. When in the market to purchase a home, need to watch and understand how a rise in interest rates affects your monthly mortgage payments. This can quickly move your payment from affordable to unaffordable. Depending on your financial situation you may want to consider discount points when talking to a lender. Discount points … (1 comments)
|
mortgage: Smart Home Shoppers Understand Credit Score
- 09/27/22 06:19 AM
When shopping for a mortgage loan, credit score plays a key role in determining eligibility. Therefore, it is necessary to understand the importance of a high credit score when preparing to purchase a home. Lenders decide how likely you will repay your debt based on credit score. Credit scores range from 300 to 850 points based your prior payment history and ability to pay on time. Lenders also consider the total amount of debt you owe which includes credit cards, car loans, and student loans, etc. Having several credit cards increases your liability and tends to reduce the credit score. If … (3 comments)
|
mortgage: Understand What You Can Afford When Purchasing Property
- 09/07/22 07:30 AM
One of your early steps in your home buying process is to fully understand your finances. This is not a fun step, but a very necessary to determine how much you can afford to avoid future financial problems. This requires gathering financial information to answer questions from a mortgage lender. These questions will include such things as: gross income, monthly expenses, credit card debt and how much you have in savings. Some mortgage lenders recommend home buyers should not spend more the 28% of their gross income on house payments. Your mortgage house payment includes principal, interest, taxes, and insurance. Understanding … (1 comments)
|
mortgage: Unusual Housing Market
- 07/07/22 09:51 AM
National Association of Realtors (NAR) says in a report that we are in an unusual housing market. Existing home sales have fallen recently, but buyers are still anxious to purchase a home. Mortgage rates and sales prices are higher, and currently experiencing low inventory of existing homes for sale. This leads to an affordability issue with many home buyers. Number of homes for sale are rising, but homes sales are slowing down recently. With higher home prices and mortgage rates, number of sales may continue to decline. Recently, NAR published indicators in their housing report:
Home prices – Home prices are … (1 comments)
|
If you are thinking about buying or selling your home, you may be wondering what is happening in Austin as of 2025 and 2026. The short answer is a mix bag. As of the spring of 2025, prices are somewhat stable with a slight dip and increasing inventory of homes on the market. The number of homes sold in the Austin-Round Rock-San Marcus metro area in 2025 is down from the prior year. In addition, the median home prices are slightly less than the previous year. As of February 2025, home prices are still higher than the national average, but growth … (0 comments)
;)
;)
;)
