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Tuesday, December 12, 2017

Feeling Stuck?

Frustrated? Feeling ‘Stuck in Place’?

It was not that long ago that folks stayed in their homes maybe 5 years and then moved on – those were the numbers when that type of data collection started in the ‘80’s. Now the number is around 10 years – double! We have gone through a market adjustment where homes prices fell radically, a market where many homes owners went upside-down, and now a market where supply and demand is radically out of sync. Many folks hesitate to move on or move up for fear of not being able to find a new home that meets their needs if they sell. So people are staying in place longer!

For quite a while now, I have been recommending new construction. I have personally gone that route and I believe in it as a viable option. There are so many advantages, not the least of which is getting what you want in your area of choice. Of course there will be a wait of maybe 5 months or more but, that gives you plenty of time to prepare your home for sale in order to get the best price. We’ll talk about the best renovation options in the next section


4 Home Renovations for Maximum ROI

Sometimes, homes have not been upgraded in years. Listing and selling a home that is out of date impacts the sales price – and can dramatically reduce the price that the house is ultimately sold for. Investing in certain renovations can turn the table and result not only a higher sales price, but a home that sells in a shorter amount of time. Properly done, it gives a competitive selling advantage and makes your home more desirable. The question becomes which renovation choices bring the best return (ROI). Have a look at the chart and the linked report for more on this subject


Real Reason Home Prices are Increasing

I am going to suggest you click through the link to see two graphs associated with this posting. The graphs are about the supply and demand of resale homes on the market. It is suggested that a 6 month supply of existing homes is market neutral. A shift in either direction tilts to a buyers’ market or a sellers’ market. Given that there is a shortage in homes right now, this is a sellers’ market and that tends to push prices up.

There are varying theories on why home prices continue to rise, but I strongly believe it boils down to the shortage of resale homes and that new construction has not been able to keep up. Take a look at any type of market – outside housing – same story, supply and demand affects prices. Will we see a dramatic shift soon? I doubt it. It is a great time to buy and invest – and a great time to sell, take your profits and reinvest or, if it is time for a lifestyle change, to use the investment proceeds to do that as well


Bubble Alert!

it is much easier to get a mortgage today that it was just a few years ago. Is it as easy as it was a decade or so ago - no way! Lots of folks got burned when credit was too easy. Safeguards have been put in place and the decision making is more rational. But, for a viable housing market and a strong economy, an easing of credit restrictions had to happen. More buyers today put down less than 20% to finance a home. The credit scores necessary for approval are lower than they were. And, there are an increased number of low down payment programs available.

Some folks are interpreting these relaxed changes as a road to another bubble. Fear from the last time adds fuel to the theory that we are headed in that direction. I think not. Better monitors are in place today as are standards that are incredibly different. We do not see irresponsible lending. We do see tighter standards and better judgment


4 Tips for Success - Before You Make an Offer!

So how do you prepare to deal with a tight market when you are looking to buy a home?

First, make that an absolute first – is find out how much you can be approved for. That means looking at your budget and deciding what you can afford and then talking with a mortgage person who will work with you to qualify you for a certain amount. And, let me add an additional thought here – just because you are qualified for X does not mean you have to spend that amount. I find this true for first time buyers especially. Your lifestyle is important and having enough money to live it at the end of the day may be best served with a lower mortgage!

Back on track. Once you are approved then time to shop and decide what house works for you. When you find that house, be ready to act. If you don’t someone else may! Working with your agent, make a good offer – and still be ready to negotiate. You may make a very good offer – and the seller may want something else. It is a sellers’ market. Best to decide in advance how much you are willing to negotiate – and react fast – if you really want that home

Saturday, December 9, 2017

THE ANTHONY - The Day After

Yesterday, I promised to share photos of the morning after the snowfall. There is something special about the sun rising and the new day beginning and life awakens once again. Have a look

Friday, December 8, 2017

THE ANTHONY - Snow Time

A couple months ago, I mentioned that I moved to an apartment in Stone Oak. Well, I have been working on a video introduction and planned that to be the first video that I shared about The Anthony. Then snow happened. So much for planning. In San Antonio, snow like this happens every 30 years or something like that and there is an opportunity to seize the moment. Here is a look at The Anthony the night the snow came down. I am working on a sequel made the morning after - come back soon

Wednesday, December 6, 2017

Conforming loan limits to increase in 2018

By Luly Shannon (Guest Poster)

The Federal Housing Finance Agency (FHFA) has announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2018 will increase.

In most of the country, the 2018 maximum loan limit for one-unit properties will be $453,100.00, an increase from $424,100.00. At Movement Mortgage, we believe this will be most beneficial since the average home price in San Antonio continues to rise.

In higher – cost areas, higher loan limits will be in effect putting these homes in the Conforming Jumbo Bracket. The new ceiling loan limit for higher-cost areas, which applies in areas with the most expensive homes, will be $679,650.00 on up.

The new conforming loan limits will apply to loans delivered to Fannie Mae and Freddie Mac on or after January 1, 2018.


LULY SHANNON, RESIDENTIAL MORTGAGE LOAN OFFICER NMLS: 991808
(210) 408- 2600 * (210) 232- 5896

Tuesday, November 28, 2017

Selling During The Holidays

7 Reasons to List Your Home During the Holiday Season

Long before I became a real estate professional, I had always heard that holidays were the wrong time to sell your home. WOW! Talk about being misinformed. Exactly the opposite is true. Given that the misconception is so popular, selling during the holidays gives you a competitive advantage. No matter what time of the year - folks need houses. If many people wait until after the holidays to list, then there are fewer homes available - and less competition!

I have also heard the one about not decorating while your home is on the market - keep it all clean and spacious. Wrong again! If you normally decorate for a holiday - go for it. It makes your "house" seem more like a "home". People expect that in my opinion. If you are worried about things being in the way - remember, you control the showings. If the time is not convenient, reschedule for a time that is. If the buyer is truly motivated, they will adjust. If they are in town for only a day or two, it is up to their agent to let your agent know that - so maybe you want to be just a little bit flexible when necessary.

Remember - if you want to sell seize the moment. There is a seller's market right now. Run with it


Home Sales Slowed by Lack of Listings

As we said above, this is a seller's market. There is simply not enough houses available to meet the demand. If you list now, it would be for a good cause!

Worried about finding a new house? My number one recommendation right now is - order a new one. When you are ready, let's talk about the reasons why


Access is Important in Getting Your House SOLD!

I have a great picture of two wrists in handcuffs that I thought about posting here. Maybe another time - but point made. If you are looking to sell, flexibility is key.

Of course there are some inconveniences but that is part of the process (I have personally bought and sold - I get it). The bottom line is the more restrictions on showing times, the longer it takes to sell


Your House Must Be Sold TWICE

You have heard the story about how much you think your house is worth, how much the tax man thinks your house is worth, and how much the buyer thinks your house is worth? And, don't forget the real estate agent who has an opinion too! But, unless the buyer is paying cash for your home, the BANK is likely to have a say in it as well.

Say you list on the high side - after all, prices are going up - right? Then along comes a buyer who is willing to pay what you want for your home. If they have cash, chances are it will be a nice straightforward transaction and everybody goes on with life. If the buyer has 25% or more down, something along those lines could happen too. BUT - when a buyer has less than that as a down payment, the bank is going to take a close look to make sure they are comfortable making a loan which would be secured by the value of the property. if not, then more money down, a lower price negotiation - or no loan.

So, what do we mean about selling your home twice. You need to sell it to a buyer - and then the bank (or mortgage company). Bottom line is let your real estate professional price it right. And, especially in today's market, if it is not selling, consider a price reduction. Remember, it is costing you money every month to stay there


Saturday, November 25, 2017

San Antonio Lifestyles

We had to move the videos - so we are sharing once again.







And, for you dog lovers....