Wednesday, January 18, 2017

Millennials - are you ready to take the lead?

What Would a Millennial Baby Boom Mean for Housing? It would be a boon to the economic engine and a recovery for our Great Nation. Right now - "Two-thirds of Millennials have not yet reached the average first-time home buying age of 32, as reported by the National Association of Realtor. The homeownership rate amongst Millennials has nowhere to go but up!" The time for your generation is here - time to be that "first time home owner". And, we are ready to help you. Checkout today's article

Tuesday, January 17, 2017

Real Estate Reality TV

5 Myths About Real Estate Reality TV Explained. The "reality" is most often these 5 myths are not myths at all. Today's real estate shopper is savvy and informed. But, television is what it is and the adventures are entertaining. If you are an experienced buyer, you probably have this pretty much down. If you are a beginning - first timer - new to home ownership, then best to talk through these items with a real estate professional. You won't regret it. Have a look at today's article

The FIRST Step

Pre-Approval Should Be Your First Step. Knowing what you can afford saves time and avoids disappointment. It also gives you the opportunity to work with your mortgage loan officer to find out what you might need to do to increase the amount you qualify for and to clean up any "surprises" that can sneak into a credit report. It is all about strategy. Working with a licensed real estate professional will help you get the home that you want. Checkout today's article

Friday, January 13, 2017

Prices Rose 7.1% Year-Over-Year [INFOGRAPHIC] - 49 out of 50 states, and the District of Columbia, all had positive appreciation over the last 12 months, with the only exception being the state of Connecticut, which experienced a -0.5% appreciation. Well, if you are already a home owner, that is good news! If not, it means the cost of getting into a home increased and will continue to rise as interest rates move up. The answer - but now or certainly as soon as is possible. If you need help with that, call me. Today's article

Thursday, January 12, 2017

Your Dream Home?

Is This the Year to Move Up to Your Dream Home? If So, Do it Early. It looks like 2017 should be a great year for real estate and that means higher prices! We are early in the year and the market has not taken off yet - but when it does...... Are you prepared? Have you talked with a real estate professional> Have you gotten pre-approved? We can help you with all those things - even outside San Antonio through our network of connections. So don't hesitate - there is no cost to you. We asked "will it be your year" on our Facebook page, so today - we are going to share two pictures with this post. I hope it is YOUR YEAR! Meanwhile, checkout today's article

Wednesday, January 11, 2017

Over 75 million baby boomers in the USA!

Top 3 Things Second-Wave Baby Boomers Look for in a Home. Location, price and layout - plus, this is the 21st century and technology is fast becoming a major consideration! It would be nice to get some followers feedback here. If you do participate, please share if you are a boomer or what generation you fall into. And, then list what matters most to you when you are considering a new home. Meanwhile, checkout today's article

Tuesday, January 10, 2017

FHA Reduces Premium

By Eric Steitz (Guest Poster)

Housing and Urban Development Secretary (and former Mayor of San Antonio) Julian Castro announced Jan. 9 that FHA was reducing their monthly mortgage insurance premium (MIP) by 25 basis points. This policy change is effective for any FHA loan closed on or after January 27, 2017 and is a welcomed money-saving change for home buyers.

So what exactly is a 25 basis-point reduction and how does it affect potential buyers? The current monthly MIP on FHA loans is 85 basis points (or .85%). Starting January 27, the monthly MIP drops to 60 basis points (or .60%).

In terms of monthly payments, the savings adds up. Using a scenario of a 4.5% interest rate and $150,000 base loan amount, the payment breaks down below:

Principal and Interest........... Previously $773.33 *** Reduced to $773.33
Monthly MIP....................... Previously $105.47 *** Reduced to $74.45
Total Payment (excl Tx/Ins).... Previously $878.80 *** Reduced to $847.78

While the savings is just $30 per month, that adds up over the course of the 30-year loan term. After one year, the savings is $360. After 30 years, it boosts up to $10,800!

For buyers, it’s a small change every month that can make a big difference over time. Please consider this scenario does not include property taxes and homeowner’s insurance, which increase the monthly mortgage payment. Also note that the interest rate shown is an estimate and does not necessarily reflect current rate pricing. Please contact me for an accurate rate quote and to see how you can become a home owner in 2017.

Eric Steitz, Mortgage Consultant (210) 910-5260
NMLS 920858 | TX-920858 | CO-100503394 http://apply.onqfinancial.com/texas/san-antonio/eric-steitz/

Need a Professional?

You Need a Professional on Your Team When Buying a Home. Are you comfortable negotiating? Do you know the law and implications of your real estate decisions? Are you knowledgeable about the housing market in your area? Really accurate and up-to-date? Do you know all the forms that are required for a real estate transaction. Do you know about inspections. Have you had experience going through title and escrow? What if the other side does not act or proceed? OK, got that down - then there are about 87 more things to consider. Even professionals are required to earn CEUs and qualify with additional hours regularly. Checkout today's article

Monday, January 9, 2017

Check the Price

If Your Home Hasn’t Sold Yet… Check the Price! Of course we all want the most money possible when we sell our home. But there is competition and a market that drive price. Price too high and wait - if you sell at all. Price too low and you lose money. The best route is to hire a professional who knows the market and is best equipped to guide you. Beware of those who will go along with any price you set! Once you have decided time to sell, ask what the market is doing and what you can expect. When a home is over priced, besides sitting on the market too long and buyers becoming skeptical, there is a cost - to you! Thin about your monthly mortgage payment (if you have one) and all other expenses like real estate tax, utilities, etc. The sooner sold - the sooner they go away or change. Have a look at today's article

Friday, January 6, 2017

MAKE your dream come true

3 Tips for Making Your Dream of Buying a Home Come True [INFOGRAPHIC]. Want that house? Especially the first house! It takes planning and above all sacrifice. But the success of getting there is a huge step in increasing wealth. It is just worth it. Plain and simple - worth it. Will you make this year your year? Read more

Thursday, January 5, 2017

Millionaire to Millennials: Buy a Home!!

Last week, CNBC ran an article quoting self-made millionaire David Bach explaining that not purchasing a home is "the single biggest mistake millennials are making" because buying real estate is "an escalator to wealth.” Bach went on to explain: "If millennials don't buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter." I cannot add any more to that - it is what it is. Do not hesitate to ask me if you can buy a home. Let's see what we can do. More in today's article