Great news for the housing Market.

I saw this interview this morning on CNN, we are seeing a huge increase of traffic and contracts in our office. I truly believe that we reached rock bottom and that now is the time to buy. Have a look at this interview.

http://wp.me/p1CndA-6P

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2011 Tax incentives for better energy efficiency.

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

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Mortgage interest rates on the rise...oh dear.

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.

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Settlement with Banks over the Mortgage industry mistakes.

Is it just me, or does $2,000 seem like very little after your HOME was forclosed wrongfully?

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Will women pay more for something that they want?

I was reading an interesting artilcle that stated that only 5.5% of men will offer full price for a home compared to 17% of women. Personally I think that is a very positive side of being a woman, just some food for thought. What are your thoughts??

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New Fannie Mae owned properties online offers nationwide.

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.

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Texas Quaterly Housing Report

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.

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Federal Reserve announced

The Federal Reserve in their most recent meeting announced that they will keep the Federal Funds rate at 0.0% to 0.25% until late 2014 at the earliest. This will help keep the current record low mortgage rates steady over the next couple of years. This should help to boost home sales growth.

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New law regarding resale certificates from HOA’s

Starting Jan 1^st 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 1^st 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.

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Newman Village has huge price cut

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!

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