Best Buy in Nice Complex
• 1,301 sq. ft., 2 bath, 2 bdrm single story "Stairs to Entry" - 
MLS® $84,500 - Lake LBJ Views
Horseshoe Bay Proper, Horseshoe Bay - Outstanding bargain for Horseshoe Bay Condo with amazing Lake LBJ and Hill Country Views. Hillside complex includes pool and tennis courts. 2/1.5 unit, single level living on 2nd/top floor with wall of windows and deck looking out to constant level Lake LBJ. Similar unit in this complex currently listed for $40K more. All new siding and metal roof through insurance claim. Just staged with most furniture for sale. New tile being installed in Master Bath and wall-paper replaced with paint. Owner also installing new windows in bedrooms.
Monthly HOA fee of $206 includes external insurance, water, sewer and trash along with common area maintenance. Unit includes refrigerator with ice maker, trash compactor, dishwasher, range/microwave and washer and dryer. 1/2 bath updated. Kitchen counter and main bath counter also recently improved. Open floorplan with choice of two dining or two living areas. Woodburning fireplace and covered parking. Motivated seller is offering a great buy for permanent home or vacation spot. Price is negotiable with good closing terms.
Property information
Mandatory Home Owner's and Property Owner's Associations are a key item to investigate as a buyer. They are common in the Highland Lakes area. If you purchase a property and become part of the organization, you are are accepting some liability with the organization. Your agent should assist you by requiring full HOA or POA disclosure as part of your contractual offer to purchase. This should include financial information and past history on items like special assessments.
These organizations often provide valuable services such as governing restrictions and road/common property maintenance. They are essential for some communities. Just make sure you are a fully informed buyer and that your HOA or POA is performing its functions in an acceptable manner.
By Elizabeth Razzi
Special to The Washington Post
Saturday, August 14, 2010
With mortgage interest rates setting record lows almost every week for more than two months, two questions naturally come to mind: How low can they go? And should I refinance -- again?
This week rates fell to levels that many people in the mortgage business thought they would never see. Freddie Mac reported on Thursday that the average rate on a 30-year fixed-rate loan was 4.44 percent, with 0.7 of a point in prepaid interest. [One point equals 1 percent of the loan amount.] Loans fixed for 15 years also hit a record low, 3.92 percent, with 0.6 of a point, on average.
Loans that are fixed for five years and then convert to annual interest-rate adjustments averaged 3.56 percent this week. One-year adjustables averaged 3.53 percent. Both charged an average of 0.7 of a point, according to Freddie Mac.
Frank Nothaft, Freddie Mac's chief economist, said in a report issued this week: "The ability to lock in a principal and interest payment at below 5 percent for 30 years is rare enough. The fact that a 30-year fixed-rate mortgage can be obtained for 4.5 percent, or a 15-year mortgage for 4 percent is an amazing opportunity for borrowers."
However, Greg McBride, senior financial analyst for Bankrate.com, said: "The pool of refi candidates has been dwindling because we have been below 5 1/2 percent for the past year. People may not want to invest the time and money in another go-round."
He added that, in markets where values are still declining, an appraisal that was high enough to support a refinance just eight months ago may not be at the same value now. For much of the Washington metropolitan area, however, values have turned upward. The National Association of Realtors reported on Wednesday that prices for single-family homes in the Washington metro area were 3.9 percent higher in the second quarter than a year ago. For condominiums and co-ops, prices were up 1.5 percent.
Homeowners in the Washington area should not assume that they wouldn't qualify for a new loan, said Malcolm Hollensteiner, mid-Atlantic regional manager for PNC Mortgage. "There's a large percentage of the population that doesn't feel they are eligible to refinance, but they are," he said. "Until you go through the process, you don't know if you do."
Sunrise Beach Village, Llano County - Announcing a price reduction on 312 Park Lane, a 2,150 sq. ft., 2 bath, 4 bdrm 2 story. Now MLS® $370,000 - Large Waterfront on Constant Level Lake LBJ.
Property information
Lake LBJ Waterfront Homes and Condos are tracking an almost identical sales pace in 2010 versus 2009. 68 properties have sold in the first 6 months of the year. The first six months of 2009 saw 78 sales.
Most people believe there are seasonal trends and the first half of the year sees more sales. Actually, the last six months in 2009 saw 99 waterfront sales. Let's hope that happens again in 2010.
Vacation and secondary home sales are more depressed in a down economy as they usually represent a luxury rather than a need. The inventory of homes continues to grow as properties are being listed at a much faster rate than sales. There is at least a 3 year inventory based on the existing sales pace.
With low interest rates and excess inventory, this is still an ideal time for buyers. Sellers that are truly motivated to move their home will price them correctly. Many waterfront homes are listed at artificially high prices as owners are being very unrealistic or do not really need to sell.
My speciality is cutting through the over priced homes and focusing on the decent buys available. Waterfront will almost always hold its value better than traditional property. Unfortunately for buyers, while the market is very much in their favor, waterfront still commands relatively steep investments. These investments have proven over and over again to be financially beneficial in a short number of years.
NEW YORK (CNNMoney.com) -- Predatory lending would likely become a thing of the past if proposed regulatory reform rules are put into practice. And that may mean that mortgages get more expensive and more difficult to get, lenders warn.
The new rules, which Congress is expected to vote on this week, require that financial institutions ensure that borrowers can afford to repay the mortgages they are sold. Lenders would also have to tell borrowers the most they might pay on an adjustable rate mortgage and explain that payments will vary when the interest rate changes.
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"These rules should help make sure people aren't put into mortgages they can't afford," said Julia Gordon, senior policy council for the Center for Responsible Lending.
Additionally, the comprehensive reform package would also ban banks from offering incentives to steer borrowers into costlier loans when they could qualify for cheaper ones, a controversial practice that fueled the subprime lending boom.
And it would prohibit prepayment penalties for adjustable rate, subprime and other risky loans and limits them to three years for traditional loans. This would help prevent borrowers from being locked into expensive loans.
Going Green is all the buzz. The real estate industry has certainly been guilty of using an overwhelming amount of paper. I now offer electronic signature services. No more faxing, or scanning and emailing paper. My DocuSign service has been approved for use by both the National and Texas Association of Realtors and includes all the proper legal tracking. It is also extremely user friendly. All you need to participate is an email account.
I strive to make all documents available online for properties I list. If not to the public, then definitely to other agents. I do not believe flyers at homes or stacks of brochures are the best use of paper when everything is available online.
I hope you will consider using my services as I strive to make them as efficient and environmentally friendly as possible.
Horseshoe Bay Proper, Horseshoe Bay - Announcing a price reduction on 146-305 Poker Chip, a 1,301 sq. ft., 2 bath, 2 bdrm single story "Stairs to Entry". Now MLS® $84,500 - Lake LBJ Views.
Property information
Many of you have read my previous blog about seller financing changes in Texas due to the new Federal SAFE Act. The following was issued today by the Texas Association of Realtors, delaying this change until Aug. 31st:
Many of us have been very concerned about the implementation of federal legislation known as the SAFE Act that would severely limit an individual’s ability to seller finance their property in Texas.
We are working on numerous regulatory and legislative solutions to this affront to private-property owners, and have some good news to report. At our urging, the chief regulator over the SAFE Act in Texas, the commissioner of the Texas Department of Savings and Mortgage Lending, has taken significant steps to allow Texas property owners to continue to seller finance up to five transactions in a 12-month period.
More specifically, the commissioner has delayed the implementation of the SAFE Act requirement for licensure in seller-financed transactions in Texas until August 31. This will give us time to implement regulatory and legislative changes during the coming months. For now it is important for you to know that the long-standing law of allowing a Texas seller to finance up to five transactions in a consecutive 12-month period is still in effect and the Texas Association of REALTORS® will continue to work at the federal and state level to see that this is a permanent solution.
Finally, this action would not have happened if not for the thousands of Texas REALTORS® who participated in our grassroots efforts to correct this abuse to private-property owners in Texas.
Your actions do make a difference.
Sincerely,
Forbes.com just published an article, "Where America's Money is Moving". Llano County, home to Lake LBJ, Horseshoe Bay, Sunrise Beach and many other desirable communities, is ranked #1 in Texas and #4 in the Nation. Warm weather, low taxes, and deep discounts on real estate are cited as contributing factors with locations in Florida and Texas leading all other states.
Check out the complete article and call me to discuss Llano County Properties (325-248-4369):
Where America's Money Is Moving
Low taxes, warm sunshine and deep discounts on real estate. No wonder IRS data shows the wealthiest among us are headed south.
By Jon Bruner
http://www.forbes.com/2010/06/14/where-the-rich-are-moving-business-beltway-rich-migration.html?partner=email
As a real estate agent I am here to help you facilitate a business transaction. I will provide factual information about properties and advise you on the area ammenities. There is no place for "cheesy" sales pitches in real estate.
The most important factors are locating properties that meet your needs and helping you obtain them at a good price. My goal is always to get you the best possible deal and to help you avoid making any decisions based on emotions.
I have a Bachelor's Degree in Business Management. Prior to real estate, I spent over 20 years in various management positions at two Fortune 500 Companies. My business background is a good asset for guiding you through the purchase process. My recent experience is further strengthened by having sold 40 properties in the last 18 months, many times above the national and local averages.
I hope you will consider hiring me to provide a service that brings you great value.
May 31, 2010 will mean some big changes in the way Owner Financing is legal in Texas. The Federal Government legislated what is called the SAFE act and with the provisions of that act all states within one year of this federal law going into effect, each state had to pass their own implementation of the legislation. Texas had to do it or the federal government was going to implement it on us. In the past if a seller sold 5 or fewer 1 to 4 family homes they were able to do so without having a license. As of May 31, 2010 that rule will go away and the new legislation will be in effect. There are 2 new exemptions,
(1) The owner must be selling their primary residence
(2) The owner is only allowed to sell to immediate family member, ie, son, daughter, mother or father
In order to sell and owner finance any other property the owner must have a Residential Mortgage Loan Originator license. The legislation includes only 1-4 residential property(single home, duplex or fourplex). It does not apply to commercial property or unimproved property. Those are the only way seller financing is allowable in Texas after May 31, 2010. If you have questions you may contact the Texas Real Estate Commission.
Many analysts have recently predicted the 30-year Conventional Mortgage Interest Rate may fall to as low as 4.5% this summer. The primary driver mentioned is the European Debt Crisis.
The existing low rates and potential lower rates continue to make this a great time to buy. The savings in interest costs are huge over the loan period.
Prices continue to stay steady and there are some signs of prices falling, particularly on waterfront properties. Let me help you find the best deals on a vacation home.
There are over 300 waterfront homes listed on Lake LBJ and well over 200 waterfront lots.
I can help you cut through the large inventory and focus on the better investments. An important step is determining the areas you are interested in and the quality/type of waterfront you desire.
With this many listings on the market, assistance from a qualified agent is critical. Many properties are listed at inflated prices just to see if they might sell. Those priced at fair market value are the properties with motivated sellers and the ones to really consider.
Let me help you with the search. I live on the lake and know the communities well. I have seen a large number of the properties on the market in person. I have boated the entire lake and can help you understand the varying levels of water quality to consider.
More and more foreclosures are being listed in the MLS by local agents. I contract with several asset managers and Fannie Mae to list these properties. The auctions at the County Courthouse steps still exist, but many properties are going the more traditional route in trying to sell.
I have added a Local Foreclosures page to my website and update it regularly. I also list Short Sales which can offer substantial bargains. Work with an experienced agent when pursuing either of these types of properties.