Just returned from a fantastic trip to visit my brother in Cairns, Australia! What a trip, except for the airlines!
Nancy & I strongly recommend a visit to Cairns to see the "end of the road" in the tropics and savor the rich combination of modern and ancient found there. From the truly ancient rain forests to the modern city and airport, life is a constant yin and yang in the far North of our great ally.
Anyway, we will be happy to discuss our adventures more, but want to make sure you know we are back to work and ready to help you with any and all of your real estate needs.
Friday, April 11, 2008
Tuesday, March 18, 2008
Market Volatility and Confusion
Wow! Have you been watching the stock markets lately? It's mind bending to sit back watch the amount of money that is traded daily. But how does that affect us in the Texas real estate market? First, interest rates are staying low, or even going lower - depends on what day you watch the market. That has long term good for home buyers all over it.
As I talk about in other areas, if you have good credit, this is a great time to look at buying a house, or even investment grade property for long term growth. In this area we have been affected by the rest of the country, but have a lot of growth still ahead.
What is making things tough for some is that the lending world is getting more stringent and you will need to prepare by having your credit in order and having some cash on hand. If using conventional loans, they are not funding 100% at all right now, you must have some cash in the transaction. It will depend on just how much, but unless you are using a VA loan, zero down is virtually gone for the near future.
John Garbo over at Supreme Lending (jgarbo@supremelending.com) tells me that they have a lot folks looking at FHA now. They still require the buyer to participate in the transaction with a minimum of 2.75% in either a down payment or closing costs, or combination. That makes it easier than 20% for the old conventional standard.
The news can be confusing, but reality is that homes are easy to purchase if you prepare. Just because the news has horrible sounding headlines does not mean that we are not bucking the trend here in Texas.
Call me and we'll talk details and get you moving on that home purchase.
As I talk about in other areas, if you have good credit, this is a great time to look at buying a house, or even investment grade property for long term growth. In this area we have been affected by the rest of the country, but have a lot of growth still ahead.
What is making things tough for some is that the lending world is getting more stringent and you will need to prepare by having your credit in order and having some cash on hand. If using conventional loans, they are not funding 100% at all right now, you must have some cash in the transaction. It will depend on just how much, but unless you are using a VA loan, zero down is virtually gone for the near future.
John Garbo over at Supreme Lending (jgarbo@supremelending.com) tells me that they have a lot folks looking at FHA now. They still require the buyer to participate in the transaction with a minimum of 2.75% in either a down payment or closing costs, or combination. That makes it easier than 20% for the old conventional standard.
The news can be confusing, but reality is that homes are easy to purchase if you prepare. Just because the news has horrible sounding headlines does not mean that we are not bucking the trend here in Texas.
Call me and we'll talk details and get you moving on that home purchase.
Monday, March 3, 2008
Buyers Market Updates
The media will have everyone that is thinking of selling or buying home believe that this is a bad time for both. Far from teh truth in this market! Let's start with the basics:
Interest Rates are LOW! Posted rates today are 6.0% for conventional loans with good credit. They are as low as 5.5% for those eligible to use the Texas Veterans program
Home prices are competetive in each market! A good home that is in a desirable location will sell, so why wait and miss out? If the price drops a little over the next few months, and interest rates rise, you won't gain anything.
Here is an example: To buy a $218,900 home at 5.5 percent is $994.31 a month. To buy next year at $197,010 at 6 percent will cost $994.94. Interesting!
As for sellers. again a well maintained home in a desirable location will sell for teh market rate. And, every neighborhood has a different set of circumstances. Don't believe that what sells "down the road" is the same as your particular situation. Get a Realtor to provide a CMA and review it with you.
We are ready to assist with any of your real estate needs, so let us know what we can do for you today!
Interest Rates are LOW! Posted rates today are 6.0% for conventional loans with good credit. They are as low as 5.5% for those eligible to use the Texas Veterans program
Home prices are competetive in each market! A good home that is in a desirable location will sell, so why wait and miss out? If the price drops a little over the next few months, and interest rates rise, you won't gain anything.
Here is an example: To buy a $218,900 home at 5.5 percent is $994.31 a month. To buy next year at $197,010 at 6 percent will cost $994.94. Interesting!
As for sellers. again a well maintained home in a desirable location will sell for teh market rate. And, every neighborhood has a different set of circumstances. Don't believe that what sells "down the road" is the same as your particular situation. Get a Realtor to provide a CMA and review it with you.
We are ready to assist with any of your real estate needs, so let us know what we can do for you today!
Saturday, March 1, 2008
Seller Workshop
Our first ever Home Seller Workshop was held Thursday evening at the wonderful Schertz Civic center. Attendees enjoyed refreshments, pizza, and most importantly, loads of great information on selling a house in today's local market.
We covered preparation, repairs, staging, inspections, home warranty, negotiations, title insurance, and the closing process. Lots of good Q&A led us to want to share more with you. Check out out web site at www.tanrealty.com and I will post a pdf file with the slides this week.
In general, we are experiencing what many would call a buyers market due to the number of homes available. The difference here is that our prices are not falling like the media headlines from other areas of the county. Some local neighborhoods continue to see appreciation, and others that may have more homes for sale may see flat or even slightly decreasing prices. Still, a house that is prepared well, staged professionally, and offers the right incentives, along with competitive pricing, will sell before the average home. And having the right exposure via lots of Internet, good photos and virtual tours will enhance sales every time.
This is still a great time to purchase a home as well. interest rates continue to hold at historically low levels, choices are abundant, and the future for the San Antonio and Schertz communities is nothing but Bright!
We covered preparation, repairs, staging, inspections, home warranty, negotiations, title insurance, and the closing process. Lots of good Q&A led us to want to share more with you. Check out out web site at www.tanrealty.com and I will post a pdf file with the slides this week.
In general, we are experiencing what many would call a buyers market due to the number of homes available. The difference here is that our prices are not falling like the media headlines from other areas of the county. Some local neighborhoods continue to see appreciation, and others that may have more homes for sale may see flat or even slightly decreasing prices. Still, a house that is prepared well, staged professionally, and offers the right incentives, along with competitive pricing, will sell before the average home. And having the right exposure via lots of Internet, good photos and virtual tours will enhance sales every time.
This is still a great time to purchase a home as well. interest rates continue to hold at historically low levels, choices are abundant, and the future for the San Antonio and Schertz communities is nothing but Bright!
Wednesday, February 20, 2008
What winter in Texas?!?!?
Hard to believe it is the 20th of February and a balmy 72 out there right now! We in the south central region of Texas enjoy a lot of nice weather all year round. Still this is a bit warmer than normal, but why complain?
I talked to friends and family in the northern states and am reminded of things like ice storms that coat the roads, causing a lot of bumps and crunches. The snow is beautiful at the ski resort, but since we don't teach skiing, working here is much nicer.
The golf courses are in great shape, the rivers are flowing (slower than last year, but still flowing) and the wildflowers are just waiting to start their growth.
If you need to take a break from the cold, come on down and visit us. If you like it, you are welcome to stay.
Wow!
I talked to friends and family in the northern states and am reminded of things like ice storms that coat the roads, causing a lot of bumps and crunches. The snow is beautiful at the ski resort, but since we don't teach skiing, working here is much nicer.
The golf courses are in great shape, the rivers are flowing (slower than last year, but still flowing) and the wildflowers are just waiting to start their growth.
If you need to take a break from the cold, come on down and visit us. If you like it, you are welcome to stay.
Wow!
Tuesday, February 12, 2008
It's a Good Time to buy Real Estate
Check out this article frmo RIS Media, the real estate news service:
By Beth McGuire
RISMEDIA, Feb. 8, 2008–”It’s a good time to buy real estate.” That’s the message Realogy, the nation’s largest real estate franchisor, wants agents to broadcast to buyers across the country.
The company is spreading the word through a national advertising campaign in USA Today, which began this past Wednesday and will run again on Feb. 13th and 20th. This is Realogy’s second national push in as many years to take a strong stance against the barrage of negative press directed toward the real estate industry over what is reported as the declining condition of the housing market.
The Parsippany, New Jersey-based parent of the Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, ERA® and Sotheby’s International Realty® brands, ran a full-page advertisement in the front section of USA Today and expects to reach more than 3.9 million consumers with its message. The ad lets consumers know that recently-cut mortgage rates and a wealth of available properties, make today a “great time” to purchase a home.
The timing of the ad, titled, “Think You Can’t Get a Home Loan? Well Think Again. You May Be Pleasantly Surprised.,” aligns with the recent Federal Reserve interest rate cuts, and lets consumers know that: money is available for those who meet basic requirements; affordability has improved; rates are attractive; and inventory is plentiful.
In an exclusive interview with Alex Perriello, president & CEO of the Realogy Franchise Group, he said the ads aim to educate consumers who might be at the positive tipping point on buying a home.
“We want to educate the consumer with relevant facts about today’s real estate market,” he said. “There are a lot of positives, and we feel that reinforcing the positives will help clarify things for consumers who are on the fence what to do in today’s market. I travel a lot to real estate offices and I hear from a lot of our agents that buyers are out there, but that they are not sure what to do. We felt that talking openly about the opportunities may help people to see that it is a good time to get into the market, and we believe it is.”
Perriello said there are three common misconceptions consumers have about the real estate market right now :people can’t get a loan: affordability is out of reach: and consumers should wait for rates to go lower.
“I was watching a news show last week after the Federal Reserve made its second rate cut on Tuesday, and the host of the program said, ‘I don’t know if it will help because you can’t get a mortgage.’ You hear this over and over again. We want to set the record straight on that. If you meet very basic requirements - you have a job for the past two years, you can make the payments, you plan to live in the property and you have a credit score that suggests you are responsible, you can get a mortgage. These are all reasonable requirements.”
He added that affordability today is better than it has been in almost three years, and that interest rates are now at 40-year historic lows, so people shouldn’t wait to buy.
In the national scope of the economy, Perriello said that the Federal Reserve is doing a good job of doing what it can to avert a recession, but stopped short on any market predictions for the remainder of 2008.
“It’s too early to know how it will go,” he said. ‘We’ll see what the impact of the rate cut brings. Another wild card is [President Bush’s economic] stimulus package, which has gotten through the House but is now stalled in the Senate.”
To combat negative press, Perriello believes that all real estate professionals need to take a very proactive position in the marketplace. “We recommend they absolutely follow our lead,” he said. “We are providing to our franchisees the ad template so they can customize it with their branding and information in their local markets. There are some great talking points in these ads.”
For more information, visit www.realogy.com.
By Beth McGuire
RISMEDIA, Feb. 8, 2008–”It’s a good time to buy real estate.” That’s the message Realogy, the nation’s largest real estate franchisor, wants agents to broadcast to buyers across the country.
The company is spreading the word through a national advertising campaign in USA Today, which began this past Wednesday and will run again on Feb. 13th and 20th. This is Realogy’s second national push in as many years to take a strong stance against the barrage of negative press directed toward the real estate industry over what is reported as the declining condition of the housing market.
The Parsippany, New Jersey-based parent of the Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, ERA® and Sotheby’s International Realty® brands, ran a full-page advertisement in the front section of USA Today and expects to reach more than 3.9 million consumers with its message. The ad lets consumers know that recently-cut mortgage rates and a wealth of available properties, make today a “great time” to purchase a home.
The timing of the ad, titled, “Think You Can’t Get a Home Loan? Well Think Again. You May Be Pleasantly Surprised.,” aligns with the recent Federal Reserve interest rate cuts, and lets consumers know that: money is available for those who meet basic requirements; affordability has improved; rates are attractive; and inventory is plentiful.
In an exclusive interview with Alex Perriello, president & CEO of the Realogy Franchise Group, he said the ads aim to educate consumers who might be at the positive tipping point on buying a home.
“We want to educate the consumer with relevant facts about today’s real estate market,” he said. “There are a lot of positives, and we feel that reinforcing the positives will help clarify things for consumers who are on the fence what to do in today’s market. I travel a lot to real estate offices and I hear from a lot of our agents that buyers are out there, but that they are not sure what to do. We felt that talking openly about the opportunities may help people to see that it is a good time to get into the market, and we believe it is.”
Perriello said there are three common misconceptions consumers have about the real estate market right now :people can’t get a loan: affordability is out of reach: and consumers should wait for rates to go lower.
“I was watching a news show last week after the Federal Reserve made its second rate cut on Tuesday, and the host of the program said, ‘I don’t know if it will help because you can’t get a mortgage.’ You hear this over and over again. We want to set the record straight on that. If you meet very basic requirements - you have a job for the past two years, you can make the payments, you plan to live in the property and you have a credit score that suggests you are responsible, you can get a mortgage. These are all reasonable requirements.”
He added that affordability today is better than it has been in almost three years, and that interest rates are now at 40-year historic lows, so people shouldn’t wait to buy.
In the national scope of the economy, Perriello said that the Federal Reserve is doing a good job of doing what it can to avert a recession, but stopped short on any market predictions for the remainder of 2008.
“It’s too early to know how it will go,” he said. ‘We’ll see what the impact of the rate cut brings. Another wild card is [President Bush’s economic] stimulus package, which has gotten through the House but is now stalled in the Senate.”
To combat negative press, Perriello believes that all real estate professionals need to take a very proactive position in the marketplace. “We recommend they absolutely follow our lead,” he said. “We are providing to our franchisees the ad template so they can customize it with their branding and information in their local markets. There are some great talking points in these ads.”
For more information, visit www.realogy.com.
Friday, February 8, 2008
Home Seller Workshop Scheduled
We are proud to announce our next consumer education event - the Home Seller Workshop. Scheduled for February 28th at 7 - 9 PM in the Schertz Civic Center. We are putting together the now famous team that made our Home Buyers Workshop so successful. Title, Inspection, Home Warranty, Home Staging, and more will be on hand to discuss all aspects of selling your house. From preparation to contract and closing, we will go over the entore process and be there to answer your questions.
Put this on your schedule! If you are going to sell your house this year, you need to attend!
Call us or email info@tanrealty.com to RSVP or for questions. We look forward to seeing you there!
Put this on your schedule! If you are going to sell your house this year, you need to attend!
Call us or email info@tanrealty.com to RSVP or for questions. We look forward to seeing you there!
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