Friday, December 11, 2009
With the market the way it is, the interest rates as low as 4%-and the government giving away enough money to cover mortage payments for the next 6 months OR MORE...ask yourself one question:
Why would I NOT buy today?
Think about it. Did you hear what I said, "the government is giving you enough money to cover the first 6 months of payments OR MORE". I know that sounds wrong and not what they are saying, but let me explain.
If you purchase a house up to $250,000; the total payment (principal and interest) will be approx. $1305 a month. * The government is giving $8000 CASH, not tax credit, to all new home buyers- or people who have not owned a home in the past 3 years. $1305 a month times 6 months is only $7800.. still less than what they are giving you- simply for purchasing a house and increasing the economy.
Of course if you purchase a house for $80,000; with the current interest (4.75% for 30 years) your monthly payment (principal and interest) is $420. With $8000 that is enough money to cover payments for OVER 18 MONTHS!
I might as well be saying.. NO PAYMENTS FOR THE NEXT YEAR!
*(payments calculated on current interest rates of 4.75% for 30 years. Payments do not include taxes, which vary from city to city)
Monday, December 7, 2009
Pre-owned home sales rose by 31% last month from a year ago -- one of the biggest such increases on record.
And Median home sales price were up 5%.
The big jump in residential transactions came as large numbers of homebuyers rushed to take advantage of the federal home buying tax credit, which has been extended.
Real Estate agents in October sol almost 5, 500 preowned home through their MLS, according to statistices relesased MOnday by the NOrth Texasd Residential Information Systems and the Real Estate Center at TX A&M University.
November's robust sales activity is the latest in a string of recent indicatiors, which show the atht North Texas home mareket has bottomed out and is turning the corner.
November was the second consecutive month that Dallas-Fort Worth area home sales rose from the previous year -- ending more than a year of consecutive declines.
Sales in North Dallas neighborhoods rose 48%.
By Steve Brown...Dallas Morning NEWS
Monday, November 9, 2009
Today we celebrate.. another great feat for not only our President, our country, but for the Real Estate Market. We will survive this market and the smart ones WILL take advantage of this FREE money!
Click the link below for all the details, but in summary all you need to know is...
CALL ME! lol
Thursday, November 5, 2009
The Senate voted Wednesday to renew the government's $8,000 tax credit for first-time home buyers through the first six months of next year as part of a broader bill designed to extend unemployment benefits.
For the first time, the tax credit program would also enable many homeowners who buy a new primary residence to receive a $6,500 refund.
The bill, which passed 98 to 0, should reach the House floor by Thursday, House Majority Leader Steny H. Hoyer (D-Md.) said in a statement. His office said the legislation would then go to the White House for the president's signature.
The Obama administration has previously supported extending the $8,000 tax credit, and without congressional action the program would end Nov. 30.
Under the bill, first-time home buyers would receive the $8,000 tax credit if they sign a contract by April 30 and close on it by June 30. The plan would also make those who buy a new primary residence eligible for the $6,500 credit if they owned their current home for at least five consecutive years in the previous eight years.
In the Senate's measure, taxpayers would be able to claim the credit on their 2009 income tax return for purchases made in 2010.
Friday, October 23, 2009
Based on one-year change adjusted
Houston, TX .......................................4.9%
Wichita, KS......................................... 4.2%
Buffalo, NY......................................... 3.7%
Pittsburgh, PA ....................................3.7%
Columbia, SC ......................................3.5%
Baton Rouge, LA..................................3.3%
Rochester, NY..................................... 3.1%
San Antonio, TX...................................3.1%
source: Brookings Institution
BEST PERFORMING AREAS
1. Austin, TX
2. Baton Rouge, LA
3. Columbia, SC
5. Des Moines, Iowa
6. El Paso, TX
7. Harrisburg, PA
8. Honolulu, HI
9. Houston, TX
Notice 4 out of the top 10 performing cities in the US are in TEXAS!
Monday, September 28, 2009
Since it takes some time after the time needed for a pre-approval to get a contract fully executed, and then some time to actually close, NOW is the time to get your First Time Home Buyers pre-approved.
Thursday, September 10, 2009
1. Make appointments with yourself
2. Set aside the first part of the day
3. Do not check your messages before your time-blocked appointment
4. Instruct whoever is answering the phones to hold all calls
5. Put up a Work In Progess! DO not Distrub sign!
6. Stick to your own rules
7. Change your venue
8. Know your plan and work your plan
9. Make it a Priority
Thursday, August 27, 2009
Online backups! Call me and I will give you companies who do everything for you automatically for a very reasonable fee. Be the first one to call and I will cover the cost for the first year
Wednesday, August 19, 2009
Do not forget about the $8000 tax credit. Purchase a house before December 1st and recieve $8000 in Jan when taxes are filed. For more information and answers to all your questions go to http://www.federalhousingtaxcredit.com/2009/home.htmloday
Wednesday, July 22, 2009
1.Reserve heat-generating activities such as cooking, washing or drying clothes, and running the dishwasher until late evening or early morning, when it is cooler outside.
2.Install mini-blinds or solar film on your windows to cut down on the heat from the sun.
3.Switch over to compact fluorescent light bulbs - not only do they use less energy, but they produce very little heat.
4.Set the thermostat a few degrees higher - most people can be comfortable with a setting of 78-80 degrees Fahrenheit; plus, you'll save 7 to 10 percent of your cooling costs for each degree above 78!
5.Try using a ceiling fan or portable fan to supplement your air conditioning. A fan can make you feel three to four degrees cooler and only costs pennies per hour to operate.
For more tips and suggestions on how to save energy or to get a better energy star home email or call me anytime. If you have other ideas, add them to this list with comments...
Thursday, July 16, 2009
Understand that buying a house comes responsibilities and additional unexpected cost. Having a budget will allow for these unexpected costs. A manageable budget is a key element to help determine if you can or can not afford a home.
No. 2: You have a sizable down payment
There are many ways to buy a house with little or no down. FHA will allow a down payment as low as 3.5%; conventional loans are min. of 10%. This being said, there are allows extra cost at closing. Allow for at least 5% of the sale price for down payment and closing cost, including prepaid taxes, insurance and escrow.
No. 3: You have a reliable source of income
Income is a key element in buying house, though a reliable source of income is a lot more important. There is a reason the mortgage industry wants proof of a minimum of one year of income with the same employer. This income will determine your budget and support not only the reoccurring house payment; but, will also be counted on for the the unaccounted expenses.
No. 4: You have an emergency savings fund
This emergency savings fund can be either a savings account, a 401k or any other non-liquid assets. When owning a home, something can always go wrong. Just because you have insurance, there is typically a 1% deductible. Be aware that filing an insurance claim, still cost money. This money should be set aside as emergency only; including the emergency that you loose your job. This way you can still afford your new home during an unexpected emergency.
No. 5: You have your debts under control
We all have some sort of debt, and just because you have a debt or owe people, does not mean you can not own a home or purchase a home. The key point here is to have them under control. Make sure when putting together your budget your debt is accounted for. As long as they are under control and are manageable, do not allow this to be a deterrent from buying a new home.
No. 6: Your credit report is in good shape
What is good credit? Well, to be honest, this is not up to you. Good credit is completely up to the credit bureaus, which are constantly changing the way scores are created and looked at. Great credit is in the 700's and anything over 600 can get you a home, though credit is also something that needs to be personally evaluated. Credit scores are determined with many things, including not only what you owe, but also how many people you owe and how much credit availability do you have. If your score is low, find out why and ask yourself, "Will this affect me financially?" and "Are these debts something I can manage and take care of"
No. 7: You can make a long-term commitment
Long-term commitment, well in this case we are talking about 3-5 years. With the way payments are set up, it takes about this long just to recoup the closing costs of buying and selling. When you sell a home it will cost you fees, so make sure these fees are also considered when thinking about buying a home. This also has to do with how much money you put down and how much equity is in the home. Typically though, renting is better if you have to buy and sell a home in less than 3 years.
No. 8: You are prepared to become your own landlord
When owning your home, you are your own landlord. This means the lawn, the repairs, the upkeep. Now most homeowners I know like doing these things, because it is a means of accomplishment and pride in ownership. Just beware and acknowledge that you are not the landlord.
Thursday, June 18, 2009
Are you thinking about retiring or relocating? Where should you move.. Florida? CA? MN?.. The beach?.. All of those places sound fun, though are they really the smartest place to move? After looking at the current economy and truly feeling the financial burden, wouldn't moving in general be out of the question for most Americans?
Today actually is the best time to move, as long as you move to the best location. I can tell you that moving to Dallas is the best location, though I might as well let you read if yourself from Forbes magazine. Notice that Dallas is number 6 in the nation; though, 4 of the top 6 six cities are in Texas. (and truly who wants to live in Houston??!!)
Top 10 Cities to Buy a Home
Financially, at least, the best places to buy houses are those where buying costs less than renting, tax incentives are attractive, and there’s an opportunity to build equity.
Forbes magazine surveyed the 40 largest metropolitan area housing metrics looking for cities where home prices have appreciated over the last two years. It also measured vacancy rates. And it gave extra points to cities where rents are significantly higher than a buyer would pay for the same home.
Texas dominated the magazine’s list because of its healthy job market and growing tax revenues.
Here are the 10 cities that topped Forbes’ best-places-to-buy list:
- Austin, Texas
- St. Louis
- San Antonio, Texas
- Charlotte, N.C.
- San Francisco
- Jacksonville, Fla.
Source: Forbes, Maurna Desmond
Tuesday, June 16, 2009
A sprawling city where Southern hospitality meets modern diversity, Dallas is a prime choice when seeking a home for sale in Texas. Thriving neighborhoods range between family-centric to artistic, suiting a variety of tastes. Dallas real estate is as varied as the facets of the city, with everything from farm estates and custom mansions to townhouses and condominiums.
So come join me in this great city and lets accomplish another dream together!