Tax incentives for homes that are more energy efficient carry through to Dec 31 2011, these incentives are not just for new homes, they also apply to existing homes. To be eligible for the tax credit new homes must be at least 50% more energy efficient than code. For more information about tax incentives and energy efficiency check out Texas Hero (home energy rating organization) at www.txhero.org
Wow well here we go, mortgage rates had been at an all time low for the past twelve weeks straight, can you believe that this is the lowest rate since long term mortgages began back in the 1950’s. If that does not make you want to buy a home I don’t know what would, especially with housing markets being at an all time low. Well interest rates did inch up slightly this week from 3.87% to 3.95% on a 30 year loan, which is pretty miniscule really, but is this a sign that mortgage rates are on the rise. I know that all of us will be watching this very closely…Wow a 15 year fixed was at 3.14% just 3 weeks ago and is now 3.19%. Still that a great rate if you can do a 15 year fixed.
As of 2/2/2012 all offers made on Fannie Mae owned properties in every State must be made through the Homepath online offers system. The online offers system simplifies the offer submission process. This makes it easier to get up to date status information, and to manage your offers and clients needs in a more progressive manner. Also you can attach instructions from the online offers support page....this is a great help as an Agent and really saves a lot of time.
The Texas housing Market showed strength and stability at the close of the quarterly report for 2011. Home sales were up 6% compared to the same quarter in 2010. The median price range remained flat at $148,100 which is a healthy balance to end out the 2011 quarter. We are seeing a strong upsurge of calls and just walk in traffic in our office for the month of January. It is looking like 2012 is off to a great start for the housing market.
Starting Jan 1st 2012 a homebuyer purchasing a property in a HOA subdivision will be able to request the resale certificate directly from the Homeowners Association. This is good news, on the flip side, contracts entered into since Jan 1st the home buyer will be required to pay for the resale certificate unless an agreement between the buyer and seller has been negotiated in the sales contract. These changes will not be reflected on the TREC contract until the end of February.
Newman Village, a prestigious upscale subdivision in north frisco has announced they are drastically reducing prices on existing inventory. Call me now for a showing!