January, 2012,...Austin shows up on the top of the most promising cities for invesment. Click here
January, 2012,...Home sales from November's data are stronger than a year ago according to an American Statesman blog. Click here
November, 2011,...Well, Austin has done it again. The word of this place being so darn appealing continues to spread. I found out about Austin in 1977, and moved here by April of 1978. A recent RelocateAmerica analysis places our beautiful city on top of the list! Click here
October, 2011,...Austin again is shining in the top ten of desirable cities for real estate investment. This affirms the bright future Austin has. This is shown in the continued population growth and steady job growth of the Austin area.
Here is an article about the top ten cities for real estate investment.
Contact me, if you have an interest in participating in the real estate market in the Austin area, 512-996-8776.
September 21, 2011...
This will help some lucky first time home buyers buy a home with little or no down payment and a super low interest rate of 3% Fixed. This is offered through the Housing Trust Fund Homebuyer Assistance Program. The Texas Department of Housing and Community Affairs (TDHCA) announced today, effective September 16, 2011, it is making available a non-assisted interest rate of 3% through the Texas First Time Homebuyer Program (Bond 77) that is only available if used in conjunction with TDHCA’s recently released Housing Trust Fund (HTF) Homebuyer Assistance Program. The HTF Program offers up to $10,000 in down payment and closing cost assistance and is available to borrowers earning up to 80% AFMI. If you are a frst time homebuyer, you may qualify for this program, which is a LIMITED TIME OFFER. Call me at 512-996-8776 to see if you qualify.
September, 2011,... Homes sell fast as buyers are finding jobs in Austin. Austin ranks 14th among major markets in terms of non-farm job growth, increasing 15,500 jobs to 782,100 from 766,600. This is according to the Austin Business Journal, 9/28/11.
September, 2011,... Funky floorplan in great neighborhood, Balcones Woods at $274,500 nicely rehabbed. Great pool, tennis, bball, playground amenity 4402 Andalusia Dr
Beginning September 15, 2011,,,, follow my blog at Blogspot.com
More evidence that Austin continues to be strong in the housing recovery.
September, 2011...According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, 1,978 single-family homes were sold in the Austin area in August 2011, totaling a 33 percent increase from August 2010. During the same time period, the median price for Austin-area homes was $200,000, a figure that was unchanged compared to the same month of the prior year.
September, 2011...Austin remains among most desirable places to live.
This summer, about 150 people were relocating to the Austin area each day. There has been a very strong leasing market where vacancies in rental units were nearing the 2-3% mark. There has been recent news indicating that job creation is much better than the national average. Real estate sales should be on the increase as the rents reach levels where it is more attractive to purchase.
The recent fires damaging over 1500 homes in Bastrop, Texas is also pressuring the Austin leasing market, decreasing the inventory of available rental homes. I specialize in both real estate sales and leasing. I am a licensed Realtor at Austin Advantage Real Estate.
Anyone needing real estate assistance can reach me directly at 512-517-4842.
March, 2011...Upcoming FHA Loan Changes in April 2011
There are some big changes on the horizon for FHA Borrowers. The monthly Mortgage Insurance Premium is going to increase on/or after April 18th, 2011. An example of the increase is on a loan of $250,000 the MI today would be $187.50 but after April 18th, 2011 it will increase to $239.00! This can drastically change the amount a borrower can qualify for and what they want to pay monthly, meaning you will get less for your dollar, yet again!
Another drastic change is that today MIP lasts for 5 years and can not be refinanced to remove the monthly fee however, in April the MIP lasts for 117 months (this is 9.75 years people) and the actual MIP amount reduces each month based on the percentage loan amount (and oh yes we all know how much our monthly payments reduce our principle in those first 10 years). You can refinance to remove the MIP, however the loan amount must be 78% of the house value.
If there is a silver lining in all of this is it is that the upfront mortgage flat fee that FHA has always charged will remain at 1%. So you will not have to come up with more money to get into a house but you will have to pay more out of pocket insurance money to borrow more than 80% of what the house is worth.
January, 2010... More evidence that the Austin area is economically weathering the recession storm can be found in a recent article in the Austin Business Journal entitled "Austin's GMP growth top in nation".This kind of contrarian indicator supports the appeal that Austin continues to have with companies and individuals making Austin their home. More jobs lead to higher demand for real estate, which will lead to a stronger general economy for the area.
February, 2011... Kiplinger Personal Finance Magazine, July 2010, places Austin as the BEST city for the next decade, posted on yahoo - Feb 21, 2011.
December, 2009... Interest rates for Owner occupants are still at or near their 45 year lows. About 4.75% for a 30 year fixed loan and less than 4.5% for a 15 year fixed loan. With the market still in favor of the buyer, these low rates give buyers an advantage we may never see again, after the Uncle Sam begins to raise rates to attract foreign investors.
I invite you to contact me through E-MAIL or just call me to explore how I may assist you.
Let me know if I can be of help in placing you where you want to be in our fine city.
Gary 800-285-8137 or 512-517-4842 direct.
Interest rate of 3% fixed through Texas bond program
No. 3: Austin-Round Rock, Texas
Grad gain: 42,117
Share of 25+ Population, 2007: 4.23%
Brains are flocking to Austin for good reason. Forbes ranked it the best large urban area for jobs in 2010. Along with Raleigh-Durham, Austin is emerging as the next Silicon Valley, luring lots of brains who would have previously headed toward the West Coast. Austin owes much both to its public-sector institutions (the state government and the main campus of the University of Texas) and its expanding ranks of private companies -- including foreign ones -- swarming into the city's surrounding suburban belt. Its vibrant cultural scene certainly helps in attracting college-educated millennials.