Austin homes sales up 24 percent in May - Austin Business Journal
Great News! Thinking of moving to our area? Contact us for a free Relocation Package. Thinking of selling? Give us a call for a complimentary market analysis.
Sue Ellett
Broker-Associate
Paragon Property Group Team
Coldwell Banker United Realtors
866-693-7741
Friday, June 18, 2010
Wednesday, June 16, 2010
Down Payment Assistance for First Time Home Buyers (and Existing) in Texas - Bond 77
Even though the Government Tax Credit program is now over (unless you have been overseas military, then you still have one year to utilise), there are still programs available to help you buy a home if you are a first time buyer or even an existing buyer, subject to some limitations.
On June 1st, the Texas Department of Housing & Community Affairs (TDHCA) implemented a new bond program to assist buyers with their down payment when purchasing a home. “Bond 77" is the largest allotment of it's kind in Texas and may be as much as $500 Million in funds. This program was released just in time to fill the void left behind by the home buyer tax credit which expired on April 30th.
Bond 77 has liberal income limits, is available to existing home buyers & first time homebuyers! This is an affordable alternative for down payment funds.
Contact us for more information on this program and how you can buy a home in the Austin and Highland Lakes areas of Central Texas with downpayment assistance funds!
On June 1st, the Texas Department of Housing & Community Affairs (TDHCA) implemented a new bond program to assist buyers with their down payment when purchasing a home. “Bond 77" is the largest allotment of it's kind in Texas and may be as much as $500 Million in funds. This program was released just in time to fill the void left behind by the home buyer tax credit which expired on April 30th.
Bond 77 has liberal income limits, is available to existing home buyers & first time homebuyers! This is an affordable alternative for down payment funds.
Contact us for more information on this program and how you can buy a home in the Austin and Highland Lakes areas of Central Texas with downpayment assistance funds!
Monday, March 22, 2010
203B Home Loans - Fixer Upper Funds Wrapped Into Your Mortgage Loan
Great News! If you are thinking of buying a fixer-upper, you can now buy the home and wrap the remodeling expenses into your loan. It's an FHA loan with a minimum down payment of 3.5% (this can be gift funds). These loans are assumable, have no pre-payment penalties.
You can borrow up to $35,000 for the renovations on top of the purchase price of the home. Contact Paragon Property Group today if you are thinking of buying a home in the greater Austin or Highland Lakes areas. 866-693-7741 or email suemellett@yahoo.com
You can borrow up to $35,000 for the renovations on top of the purchase price of the home. Contact Paragon Property Group today if you are thinking of buying a home in the greater Austin or Highland Lakes areas. 866-693-7741 or email suemellett@yahoo.com
- RISMedia - http://rismedia.com -
Fixer-Upper Financing: 203k Program Provides Buyers with Renovation Funds
But a little-known Federal Housing Administration (FHA) loan program that’s been around since 1978 can help take the sting out of “as-is.” Only 219 borrowers took advantage of the FHA’s 203k program in 2009. Not that many lending and real estate professionals are aware of the program, say observers.
Last year, Tom Meyer found a classic Oakland, Calif., home built in 1925 near Mills College he liked a lot.
Tuesday, February 23, 2010
Home under $140,000 just North of Austin - First Time Homebuyer Dream Home!
Don't let this one pass you by....it's gorgeous. Probably one of the nicest homes for the price that you will find. Plus, close to Park & Ride and new Metro Station in Leander. Walk to Elementary School from this great home. It's Pristine and Move-In Ready.
Visit our Website for even more area and property information.
Contact Paragon Property Group at 866-693-7741 for more information about this or any other area home in the greater Austin or Highland Lakes areas. We can help you buy or sell your home.
Home Buyer Tax Credit Timeline.....
Below is an article to assist you in the timing of the tax credit and buying your home in the Greater Austin or Highland Lakes areas - time is running out - you must be under contract by 4/30/10 and closed by 6/30/10....so don't hesitate!
Timeline for the Home Buyer Tax Credit
Feb18, 2010 (Bankrate.com)
Time is running short for people who want to take advantage of the homebuyer tax credits.
There are two homebuyer federal income tax credits: the first-time homebuyer tax credit of up to $8,000, and the move-up homebuyer tax credit of up to $6,500. Both come with deadlines.
To collect either tax credit, buyers have to have homes under contract by April 30. That means that both buyer and seller must have signed the purchase contract by that date. After that, there's another deadline: The transaction has to close by June 30.
If you want to collect the tax credit, don't wait until the last half of April to begin looking for a house. Yes, it's possible that you could do it all in a couple of weeks: find a house that you like, negotiate a price and secure mortgage financing. Possible, but not probable.
"Don't wait till the last minute, and be prepared to stay on top of things from the very outset," says Neil Garfinkel, a lawyer with the law firm of Abrams Garfinkel Margolis Bergson LLP, on New York's Long Island.
Below is a timeline for homebuyers who want to complete the transaction on time to collect the federal income tax credit. The following dates aren't ironclad; the real estate agent, lender and title company will know if you need to deviate from this timeline because of your situation or location.
Use this timeline as a general guide and as motivation to take action quickly.
Contact Paragon Property Group at 866-693-7741 for more information about Buying a Home in the Greater Austin or Highland Lakes areas.
Timeline for the Home Buyer Tax Credit
Feb18, 2010 (Bankrate.com)
Time is running short for people who want to take advantage of the homebuyer tax credits.
There are two homebuyer federal income tax credits: the first-time homebuyer tax credit of up to $8,000, and the move-up homebuyer tax credit of up to $6,500. Both come with deadlines.
To collect either tax credit, buyers have to have homes under contract by April 30. That means that both buyer and seller must have signed the purchase contract by that date. After that, there's another deadline: The transaction has to close by June 30.
If you want to collect the tax credit, don't wait until the last half of April to begin looking for a house. Yes, it's possible that you could do it all in a couple of weeks: find a house that you like, negotiate a price and secure mortgage financing. Possible, but not probable.
"Don't wait till the last minute, and be prepared to stay on top of things from the very outset," says Neil Garfinkel, a lawyer with the law firm of Abrams Garfinkel Margolis Bergson LLP, on New York's Long Island.
Below is a timeline for homebuyers who want to complete the transaction on time to collect the federal income tax credit. The following dates aren't ironclad; the real estate agent, lender and title company will know if you need to deviate from this timeline because of your situation or location.
Use this timeline as a general guide and as motivation to take action quickly.
Contact Paragon Property Group at 866-693-7741 for more information about Buying a Home in the Greater Austin or Highland Lakes areas.
Wednesday, December 30, 2009
Downpayment Assistance Funds now Available in Texas thru TDHCA
Great News! TDHCA has replenished their downpayment assistance funds available to First Time Home Buyers. This is a below market interest loan that you get in order to make your down payment and it is a deferred, forgivable 2nd line for up to 4%. There are income limits and you will need to have decent credit. Visit http://www.tdhca.state.tx.us/homeownership/fthb/available_funds.htm for more information.
Contact me if you would like to speak with a lender to see if you qualify. That is your first step.
Of course, the First Time Homebuyer Tax Credit is also available to you if you have a home under contract by 4/30/10, so don't wait - get started now and buy your First Home!
Contact me if you would like to receive a FREE First Time Homebuyer handbook - we will mail it to you right away.
Sue Ellett, Broker-Associate
Texas Affordable Housing Specialist
866-693-7741
suemellett@yahoo.com
Great Austin and the Highland Lakes Areas.
I can refer you to a qualified First Time Home Buyer trained agent in other areas of Texas too.....
Contact me if you would like to speak with a lender to see if you qualify. That is your first step.
Of course, the First Time Homebuyer Tax Credit is also available to you if you have a home under contract by 4/30/10, so don't wait - get started now and buy your First Home!
Contact me if you would like to receive a FREE First Time Homebuyer handbook - we will mail it to you right away.
Sue Ellett, Broker-Associate
Texas Affordable Housing Specialist
866-693-7741
suemellett@yahoo.com
Great Austin and the Highland Lakes Areas.
I can refer you to a qualified First Time Home Buyer trained agent in other areas of Texas too.....
Thursday, December 24, 2009
Are Interest Rates Going Up? Should I buy now?
It's a great time to buy and a great time to get a home mortgage loan at great rates. .
Thinking of buying a home? Interest rates are not likely to get any lower than they are today. In fact, it is likely in the near future that they will go up. Why?
The Federal Government agreed to buy mortgage backed securities. By doing so, they are essentially keeping mortgage rates artificially low. They are due to stop this program soon, possibly as early as this Spring. What does that mean?
Basically without the Federal government buying these securities, who is going to buy them? Usually it's investors. And, while the government is willing to take a lower interest rate, most investors are not, hence rates will go up.
What does this mean to you? If you are thinking of buying a home, your purchasing power is greater with a lower interest rate. For instance, a $100,000 mortgage loan at 5.5% is
$568 /month over 30 years. At 6.5%, it jumps to $632 /month. For many people that will be the difference between qualifying or not qualifying, between buying the house you want or buying a less expensive home.
Couple all that with the First Time Home Buyer or General Home Buyer Tax Credits and it won't get any better than this. So, if you are thinking of buying, now is the time. Interest rates are low, prices are great and there are many motivated sellers (you have to be under contract by the end of April, 2010).
If you are a First Time Homebuyer, let us know your mailing address and we'll be happy to send you a FREE First Time HomebUyer Booklet which outlines the process. Plus we have another brochure about Buying versus Renting.
One of your first steps may be to get Pre-Qualified. Coldwell Banker Mortgage is offering a unique program where they offer you pre-purchase rate protection. The great thing about this program is that you can lock in when you start looking rather than waiting until you find something (your rate cannot be locked until you are under contract). Here's how it works:
Our Four to the Door mortgage program gives them an effective way to limit rate risk. At the start of our simple four-step process, you simply tell the lender that they want Pre-Purchase Rate Protection. Depending on where interest rates are, their rate will be capped at a certain level— and whatever happens to rates, you won’t pay more than that cap. On the other hand, if rates go down in the meantime they can still benefit: we offer a one-time “float down” — an opportunity to lock at a lower rate before closing. So whichever way interest rates go, you are protected.
Call or email us today. My Team and I would be happy to help in the great Austin and Highland Lakes areas including Marble Falls, Burnet and Horseshoe Bay areas. We belong to both the Austin and the Highland Lakes MLS systems.
Good Luck!
Sue Ellett, Broker-Associate
Paragon Property Group Team
Coldwell Banker United, Realtors
866-693-7741
suemellett@yahoo.com
www.ParagonPropertyGroup.com
Thinking of buying a home? Interest rates are not likely to get any lower than they are today. In fact, it is likely in the near future that they will go up. Why?
The Federal Government agreed to buy mortgage backed securities. By doing so, they are essentially keeping mortgage rates artificially low. They are due to stop this program soon, possibly as early as this Spring. What does that mean?
Basically without the Federal government buying these securities, who is going to buy them? Usually it's investors. And, while the government is willing to take a lower interest rate, most investors are not, hence rates will go up.
What does this mean to you? If you are thinking of buying a home, your purchasing power is greater with a lower interest rate. For instance, a $100,000 mortgage loan at 5.5% is
$568 /month over 30 years. At 6.5%, it jumps to $632 /month. For many people that will be the difference between qualifying or not qualifying, between buying the house you want or buying a less expensive home.
Couple all that with the First Time Home Buyer or General Home Buyer Tax Credits and it won't get any better than this. So, if you are thinking of buying, now is the time. Interest rates are low, prices are great and there are many motivated sellers (you have to be under contract by the end of April, 2010).
If you are a First Time Homebuyer, let us know your mailing address and we'll be happy to send you a FREE First Time HomebUyer Booklet which outlines the process. Plus we have another brochure about Buying versus Renting.
One of your first steps may be to get Pre-Qualified. Coldwell Banker Mortgage is offering a unique program where they offer you pre-purchase rate protection. The great thing about this program is that you can lock in when you start looking rather than waiting until you find something (your rate cannot be locked until you are under contract). Here's how it works:
Our Four to the Door mortgage program gives them an effective way to limit rate risk. At the start of our simple four-step process, you simply tell the lender that they want Pre-Purchase Rate Protection. Depending on where interest rates are, their rate will be capped at a certain level— and whatever happens to rates, you won’t pay more than that cap. On the other hand, if rates go down in the meantime they can still benefit: we offer a one-time “float down” — an opportunity to lock at a lower rate before closing. So whichever way interest rates go, you are protected.
Call or email us today. My Team and I would be happy to help in the great Austin and Highland Lakes areas including Marble Falls, Burnet and Horseshoe Bay areas. We belong to both the Austin and the Highland Lakes MLS systems.
Good Luck!
Sue Ellett, Broker-Associate
Paragon Property Group Team
Coldwell Banker United, Realtors
866-693-7741
suemellett@yahoo.com
www.ParagonPropertyGroup.com
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