Monday, August 28, 2017

52% of Approved Loans Have A FICO® Score Under 750 - Don’t Disqualify Yourself...

Take a look at today's report and see how many borrowers do not have the highest credit scores. The only way you will know for sure if you qualify - or what adjustments you need to make in order to qualify - is try! Why wait? Mortgage rules change - Lenders change - and uh oh, prices change (usually UP). So by waiting to apply, your borrowing capacity may go down rather than improve. Questions on that? Call me Al


Homeowner’s Net Worth Is Still Greater Than a Renter’s and that is not likely to change any time soon!

But, did you know The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). Let that sink in a minute. The have a quick look at today's report


Home Prices Up Over 6.5% Across the Country!

Waiting may end up costing you more! Yes, waiting to have more money down, waiting for prices to come down, waiting for interest to come down - all likely to cost you. It is actually a double hit - we have mentioned before prices are going up, interest may follow and then there is the matter of the rent you are paying. Don't forget to add in the cost of an extra year or two - or three - in rent to your cost of "waiting". Don't lose the opportunity - read more


If you are a regular follower, we have been saying that there is a shortage in home inventory - and now More Boomerang Buyers Are about to Enter the Market!

That supply shortage of homes available is about to get worse. And, that adds to price pressure. And, that means now is good if you are ready to buy - or sell if you are ready to move into your next home


What State Gives You the Most ‘Bang for Your Buck’?

Some folks get all bent out of shape when I share something that does not feature Texas as number one. Well, Texas cannot be number one in everything. We are neither the highest nor the lowest - and that is OK. Nothing wrong with being GREAT and SOLID. Texas has a HUGE economy - larger than most countries around the world. Did I just say COUNTRIES. Yes! Have you heard about the TEXAPLEX? That link will take you to my site where you can watch the two videos on the Texaplex. It is worth it

Thursday, August 24, 2017

NO FSBO (at the advice of 2 Dr's)

I share many things on social media that I do not post on this real estate blog. This time, I am making an exception and sharing something I think is so very, very important to folks considering selling their home. Often you will hear a REALTOR advise against doing a "For Sale By Owner" (FSBO) and often the response is said to be self-serving as commissions are how REALTORS make a living. Even though the statistics confirm year after year that somewhere around 80 to 90% of those who try going it on their own eventually engage the services of a real estate professional.

You have heard that before so let's get to the news today. The challenge "FSBO sales will, on average, sell for something less than comparable regular sales when markets are in equilibrium."

NAR has shared the short version here: Study: FSBOs Net ‘Significantly’ Lower Profits

And you can view the in-depth report by Dr. Michael Sklarz and Dr. Norman Miller | August 16, 2017 here: Saving Real Estate Commissions at Any Price

58% See a Drop Coming

58% of Homeowners See a Drop in Home Values Coming! What a statement. I hope you keep reading to find out why that is believed WRONG.

Today's market is not like it was during the crash. Back then getting a mortgage was simple - all you had to do was be breathing (OK, not THAT simple, but you get the idea). Today, that is just not going to happen. There are rules designed to protect everyone - even the buyer! Even though we see some loosening of the overly tight restrictions, it is far different today that it was back then. Builders too have gone more conservative. New homes on the ground and ready for the next person that happens along is just not happening. Actually, Builders are struggling to keep up with demand. Read more on the subject


Actually, Homes Are Selling Quickly Nationwide!

In June, over half the homes sold were on the market for less than a month! You read that correctly - more than 50% of the homes listed were sold in less than 30 days. That says demand is there - a backlog of folks looking to buy a new home is out shopping - and it is a seller's market. More on that


Your Home is an Oasis in an Inventory Desert

The comparison to an oasis in the desert in an interesting analogy but not far off. Your home can be a welcome relief for the buyer who just have not been able to find what they are looking for. And yet a lot of folks who are thinking about selling hesitate thinking they can find themselves in the same position - a buyer who cannot find a home. Scary thought - and a realistic one! However, some research beforehand, a possible move to new construction or a move up to a higher value and you may find surprising opportunities. This concept is one you want to discuss with your REALTOR professional. Don't let fear hold you back. You can do it


Housing Inventory Hits 30-Year Low

Housing could be better! So what's wrong? People have jobs, homes are affordable, and interest rates are still low and housing keeps chugging along. The missing item is inventory. Very simply there are not enough available homes to meet the demand of available buyers. Of course that is expected to shift one day - the market works in cycles. But, we are here and this is now and it is time to seize the moment! If you perfectly satisfied with your present home - don't do anything (other than make sure you have the best possible mortgage) - but if you have ANY reason to move up, or down, or around - now is good. Check it out


The fact is 93.9% Of Homes in The US Have Positive Equity!

Significant Equity Is On The Rise. Did you know that Homeowner equity increased by $766 billion over the last year? That is a staggering improvement in wealth. Your improved equity position can pave the road for a new home and an opportunity to increase your base for an even greater accumulation of wealth. More stats for you in today's report


Keeping up with the Joneses? Now's the Time!

Actually, who cares what the Joneses are doing? Seriously! What matters is your own need and how it fits your situation. But the analogy is not bad - it is just to stress that there is opportunity out there. Opportunity to move up, move down, relocate or even a lateral move to something new and fresh. Maybe a new neighborhood - or maybe a new home of your own. I have clients that I met when they were just about to make their 360th mortgage payment - imagine! They were relocating and never thought they could afford "new". I showed them how to do that and about 5 months later they moved into a brand new home that nobody had ever lived in before. It was all theirs - new everything including energy savings, etc. (another day's discussion). So have a look at the Joneses report and let's talk about what your needs are (and if your name is Jones would you like to be a featured article?)

Tuesday, August 22, 2017

San Antonio House Types

By Matt Reilly @ Reilly Roofing and Gutters (Guest Poster)


George Kalteyer House

When you enter the city of San Antonio, Texas, you will be able to spot a rich history by just looking at the architecture. The building styles can reflect homes from Spanish to Mexican and some even have a touch of French roots. The architectural styles are truly exceptional as there are many design choices. Here are some San Antonio house types that you might come across if you are doing a house search in the area.

• Traditional design

These homes in many cases are homes from the 18th century which are updated. They do not have a unique style of their own as they are a mixture of different styles. Attention to historical details will come forth in these homes, and their influence can come from a Colonial, Craftsman, and Ranch Rambler style home. The front door tends to have one window on each side and five on top, with the middle window above the door. Other features on these homes are shutters, dormers, detailing in wood and big porches.

• Southern design

The Southern design consists of large window shutters, columns, pediments and a huge porch. These homes are typically built from wood or brick and have a gabled or pitched roof with big roof overhangs and verandas. Dormers in a Southern style home are easily recognized. In San Antonio, these homes are adapted for heat, humidity and sweltering temperatures during the summer. The included elements in the design of the home are specifically created to take advantage of the cool air.

• European design

Certain parts of these homes might look old, but they are durable, they can be plaster walls, stone floors, and big fireplaces. The roof may be of stone or even copper elements and form some complicated rooflines. The European inspiration for those big homes comes from Italy, France, and England.


• Vintage design

A variety type of home styles are found in each area of San Antonio. However certain home styles are dominant in certain areas. In King William District, for instance, there are plenty of old Victorian style homes. The King William District was originally a farmland and developed after the German merchants who came to the area in 1840. King William is certainly rich in history, seen in the mansions that are Victorian homes which spawned styles like Greek Revival, and Italianate style homes. In San Antonio, Greek Revivals can be described as gable-fronted houses painted white to resemble white marble with bold details but yet simple moldings. The Italianate build structures are seen as a tighter symmetrical floor plan with much ornamentation and can come in mansions or modest row houses.

• Contemporary design

Some modern buildings can be seen in San Antonio, as the San Antonio museum of art for instance. As for the contemporary home market in San Antonio, builders and designers need to get required approval before construction can start. The neighborhoods have a certain look to them, mostly with high pitch gabled roofs whereas modern styles tend to have a flatter roof without gables. However, it is possible for more modern designs to make into the San Antonio neighborhoods if they can blend in with good taste without sticking out like a sore thumb.

In downtown San Antonio even bungalows can be found, and in specific areas, finding luxury estates is not difficult. San Antonio is a large city but at the same time has a small town feel due to the smart planning of architecture and design which offers a wide variety for any lifestyle.

The Interntational Buyer

Just how important are international buyers to the Texas economy.... SABOR has published "International homebuyers contribute $18.66 billion to Texas economy from 2016-2017"... - check out the article and learn more

Monday, August 7, 2017

Are You in the Right House?

How Long Do Most Families Stay in Their Home? The answer to that question has changed in recent years. It used to be an average of 6 years. Since 2008 the average is 9 years. Yes, 9 years or 50% longer than the previous average! There were 2 primary changes which caused the great shift. One, the housing correction caused many folks to go negative in equity - they were stuck! And, the rate of homeownership in young families was lower than the historical norm. A lot of the young folks just stayed home with mom and dad. The result of the slower market means that some families who have grown have not yet had the opportunity to move up to a bigger house. It also means that as the young are now getting out of the family nest, parents may be sitting with a larger then necessary home and unused rooms. So the question becomes - in your personal situation, are you in the right house? For more, have a look at today's report

Thursday, August 3, 2017

It’s Cheaper to Buy Than Rent

Be Careful Not to Get Caught in The Rental Trap! The cost of a home is going up for sure. But, the cost of renting is too. Did you know that the cost of homeownership is cheaper than renting in the 100 largest metro areas of the United States? Let's do that again - it is less expensive to OWN a home vs renting in the 100 largest metro areas of the entire country! So, you ready to buy? Now is a good time. For more information, have a look at today's article