Timothy DeWein - San Antonio Real Estate

Industry's Past Due Mortgages = 6,350,000

2011-06-22T21:20:00.000-07:00

By: Carrie Bay
Data released by Lender Processing Services (LPS) Tuesday puts the number of home mortgages that are delinquent or in foreclosure at 6,350,000.

The company’s assessment is based on mortgage performance statistics derived from its loan-level database of nearly 40 million mortgage loans through the end of May.

In April, LPS reported that there were 6,388,000 mortgages going unpaid. The month-over-month decline can be attributed to both a decrease in the national delinquency rate and a drop in foreclosure inventories.

According to LPS’ study, the national delinquency rate stood at 7.96 percent as of May month-end. This figure includes loans that are at least 30 days past due but not yet in foreclosure.

The delinquency rate is down 0.1 percent from April and is 18.3 percent lower than it was in May 2010.
LPS says 4.11 percent of the nation’s outstanding mortgages were part of the foreclosure inventory at the end of May.

The foreclosure inventory rate – which LPS calculates as loans that have been referred to an attorney but have not yet reached the final stage of foreclosure sale – was down 0.7 percent from April, but 12.3 percent above the rate reported in May 2010.

Of the 6,350,000 past due home mortgages in the nation, LPS says 2,164,000 were in the process of foreclosure.

The remaining 4,187,000 were 30 or more days past due but the lender had not yet initiated foreclosures. Of these, 1,921,000 were 90-plus days delinquent.

According to LPS’ analysis, the states with highest percentage of non-current loans – which combines foreclosures and delinquencies – include: Florida, Nevada, Mississippi, New Jersey, and Illinois.

That line-up is the same as reported the previous month, save one. Illinois supplanted Georgia for the No. 5 spot.

Mirroring the previous report’s list of states with the lowest percentage of non-current loans are: Montana, Wyoming, Alaska, South Dakota, and North Dakota.

Apartments Hotter Than Houses?

2011-06-21T18:27:00.000-07:00

SAN ANTONIO (San Antonio Express-News) – In light of recent housing market woes, many leaders in the real estate industry are looking to apartments and rental properties as the new hot market.

Falling home prices, increases in foreclosures and anemic job growth are weighing down the home market and seem to be the driving force behind this national trend, Zillow Chief Economist Stan Humphries said at last week's meeting of the National Association of Real Estate Editors in San Antonio.

However, Dr. Mark Dotzour, chief economist for the Real Estate Center at Texas A&M University, said U.S. housing numbers and reports often do nothing more than cause potential homebuyers in healthier markets to panic. "They're not helping people make good decisions," Dotzour said. "It's kind of a hindrance. "Dotzour said good properties in stronger markets continue to hold their value.

BEXAR COUNTY FORECLOSURES FALL . . . AGAIN

2011-06-21T18:21:00.000-07:00

SAN ANTONIO (San Antonio Business Journal) – July will mark the fourth month in a row Bexar County foreclosure postings have fallen compared with last year.

This month, 1,143 foreclosure notices were filed for the July auction, down 27 percent from 1,561 for the July 2010 auction, according to Foreclosure Listing Service Inc. (FLS).

“While I am not ready to say the foreclosure market has rebounded, I am certainly encouraged,” said George Roddy Sr., FLS president. Roddy said that if this trend reaches the six-month mark, the foreclosure crisis may be near its end.

San Antonio Ranked #12 - Best Places to Raise Kids

2011-06-20T14:19:00.000-07:00

2011 Best Cities for Families: Complete List

The top-ranked American cities to live and raise a family based on great schools, affordable homes, low crime rates, jobs, and parkland. Plus, learn more about the top 10 Best Cities!

You want the best for your family, and that includes great schools, affordable homes, low crime rates, plenty of jobs, and lots of parkland. So we crunched more than 8,000 bits of data in 84 categories to determine this year's top places to raise kids.

Get the scoop on the top 10 Best Cities!

1. Washington, District of Columbia
2. Austin, Texas
3. Boston, Massachusetts
4. St. Paul/Minneapolis, Minnesota
5. Des Moines, Iowa
6. Madison, Wisconsin
7. Honolulu, Hawaii
8. Omaha, Nebraska
9. Seattle, Washington
10. Louisville, Kentucky

11. St. Louis, Missouri
12. San Antonio, Texas
13. Portland, Oregon
14. Kansas City, Missouri
15. Colorado Springs, Colorado
16. New Orleans, Louisiana
17. Richmond, Virginia
18. Lexington, Kentucky
19. Lincoln, Nebraska
20. Wichita, Kansas
21. Salt Lake City, Utah
22. Columbus, Ohio
23. Dallas, Texas
24. New York, New York
25. Atlanta, Georgia

July Newsletter

2011-06-19T23:29:00.000-07:00

Click Here

New Blog

2011-06-17T10:29:00.000-07:00

Please visit my new blog at http://www.blog.dewein.com/

HWA's New GreenPlus home warranty option!

2011-06-14T09:56:00.000-07:00

3 major loan servicers denied incentives

2011-06-13T20:38:00.000-07:00

Click Here

Choosing a Home Inspector and Water Heaters

2011-06-13T09:29:00.000-07:00

Click Here

Harvard: Real estate recovery hinges on return of demand | Inman News

2011-06-09T07:13:00.000-07:00

Harvard: Real estate recovery hinges on return of demand | Inman News

The Battle to Keep Fannie & Freddie – Should We???

2011-06-09T06:22:00.000-07:00

Best windows: vinyl, aluminum or wood?

2011-06-08T20:47:00.000-07:00

Choosing replacements (Click Here)

Florida Couple Forecloses on Bank Of America

2011-06-07T06:22:00.001-07:00

Read the story...

'Sweet Justice': A Florida Couple 'Forecloses' On Bank Of America

Or go straight to video...

HUD TO INVESTIGATE MORTGAGE LENDERS WHO DISCRIMINATE AGAINST EXPECTANT MOTHERS AND NEW PARENTS

2011-06-07T06:00:00.000-07:00

HUDNo.10-158/U.S. Department of Housing and Urban Development (HUD)

Real estate 'double dips' in Q1

2011-06-02T08:29:00.000-07:00

Case-Shiller: year-over-year price declines in 19 of 20 metros

By Inman News
Inman News™

U.S. home prices hit their lowest level since the beginning of the recession, according to the latest Standard & Poor's/Case-Shiller National Home Price Index released today.

Home prices nationwide fell 5.1 percent in the first quarter compared to first-quarter 2010, back to where they were in mid-2002. The index fell 4.2 percent compared to fourth-quarter 2010.

Twelve of the 20 metro areas tracked by the index hit new lows in March: Atlanta; Charlotte, N.C.; Chicago; Cleveland; Detroit; Las Vegas; Miami; Minneapolis; New York; Phoenix; Portland, Ore.; and Tampa, Fla.

All but Washington, D.C., saw their prices fall year-over-year. Home prices in the nation's capital rose 4.3 percent on an annual basis.

The 20-city composite index fell to 138.16, a 3.6 percent annual decline and down from its earlier April 2009 low of 139.26. The indices have a base value of 100; indices above 100 indicate appreciation of a typical home in a subject market since January 2000.

"This month's report is marked by the confirmation of a double dip in home prices across much of the nation. Home prices continue on their downward spiral, with no relief in sight," said David M. Blitzer, chairman of the index committee at S&P Indices, in a statement.

S&P Indices also announced the launch of a housing market-focused blog, HousingViews.com, today. In a blog post about the index, Blitzer added, "While the overall numbers in the S&P/Case-Shiller Home Price Indices for March are down and disappointing, the pattern is not uniform. A few areas -- Washington, D.C., and (California's) San Francisco and San Diego -- remain above their recent lows. At the other end of the scale, Detroit is about 30 percent below its level of January 2000."

Case-Shiller metro price changes (March 2011)

Metro area	Index level	Change from February	Change from a year ago
Atlanta	98.36	-1.9%	-5.2%
Boston	147.36	-1.7%	-2.7%
Charlotte	106.96	-2.4%	-6.8%
Chicago	110.57	-2.4%	-7.6%
Cleveland	96.8	-1.8%	-6.3%
Dallas	112.89	-0.8%	-2.5%
Denver	120.55	-0.6%	-3.8%
Detroit	67.07	-2.0%	-0.9%
Las Vegas	97.18	-1.1%	-5.3%
Los Angeles	167.77	-0.3%	-1.7%
Miami	137.28	-0.8%	-6.1%
Minneapolis	105.57	-3.7%	-10.0%
New York	163.5	-0.9%	-3.4%
Phoenix	100.27	-0.5%	-8.4%
Portland	132.67	-0.7%	-7.6%
San Diego	153.88	-0.8%	-4.0%
San Francisco	129.82	-0.1%	-5.1%
Seattle	132.97	0.1%	-7.5%
Tampa	127.08	-0.7%	-6.9%
Washington	182.98	1.1%	4.3%
Composite-10	151.66	-0.6%	-2.9%
Composite-20	138.16	-0.8%	-3.6%

Source: Standard & Poor's and Fiserv

NEW Recycling Plan for Multi Family Properties COMING SOON

2011-05-31T09:28:00.000-07:00

Click Here for a link to your free handy guidebook.

Draft bill would hike FHA loan down payments to 5%, slash loan limits

2011-05-28T10:02:00.000-07:00

Legislation will likely draw fire from industry groups, Senate Democrats

By Ken Harney, Monday, May 23, 2011.

Inman News™

Republicans on the House Financial Services Committee have drafted legislation that would raise the minimum down payment for FHA mortgages to 5 percent, cut FHA loan limits in most markets, and move the Agriculture Department's rural housing program to FHA's parent agency, HUD.

Though the draft bill has not been introduced, titled or assigned a number, it is expected to be the main subject of a hearing Wednesday before the Subcommittee on Insurance, Housing and Community Opportunity, chaired by Rep. Judy Biggert, R-Ill. After that, the bill is likely to be formally introduced and sped through subcommittee and committee votes and head for action by the full House.

The text of the draft bill appears to be a partial answer from House Republicans to the Obama administration's call earlier this year for a smaller federal government footprint in housing.

By lowering maximum FHA loan limits in large numbers of local areas -- well below even the limits that are already scheduled to kick in Oct. 1 -- the bill would squeeze down FHA loan volume across the country, cutting a resource for some home purchasers who can't obtain a conventional mortgage.

Here are some examples of current FHA loan ceilings, how they're scheduled to adjust in October, and where they'd end up under the Republican plan:

In Los Angeles County, the present high-cost area maximum is $729,750, which was set by the federal economic stimulus legislation passed by Congress following the financial crisis of 2008. That ceiling is scheduled to drop to $625,500 Oct. 1. Under the new bill, however, the maximum FHA-insured loan amount allowed in Los Angeles would be $412,500 -- a $317,250 plunge from the current limit and $213,000 below the scheduled reduction this fall.
Other counties in high-cost California would experience even sharper declines, such as Monterey, where the maximum would decline by $436,000 and Contra Costa, where the drop would be $379,750. Every county in California -- from big urban communities to rural areas -- would be on the losing end of the new FHA equation, and most reductions would be in the six figures.
The lower limits would be significant in other states as well. Monroe County, Fla., would see maximum FHA loan limits go from $729,750 to $425,000. Under the scheduled Oct. 1 statutory decrease, the county -- which comprises the Florida Keys -- would have a $529,000 maximum. Sarasota, Fla., would see a $261,250 drop under the bill, Miami-Dade a decrease of $161,250, and Orange County (Orlando) limits would decline by $128,750.
Large counties in the high-cost areas around Washington D.C. would see FHA limits drop by anywhere from $398,500 (Prince George's, Md.) to $366,250 in Baltimore. Most New England and mid-Atlantic states would end up with lower loan ceilings along with major markets in the Midwest and the Rocky Mountain states.

The FHA loan limit formula would be revised to 125 percent of the median home sale price in the local county under the bill, and the current $271,050 floor for loan limits nationwide would disappear.
Though major housing, real estate and lending groups had no comments pending the Wednesday hearing, they are likely to oppose the sharp cuts in loan limits.

Mortgage industry consultant Brian Chappelle, head of Potomac Partners in Washington, D.C., is scheduled to testify at the hearing and told Inman News that the higher loan ceilings are a bad idea.

Audits of FHA loan performance, Chappelle said, repeatedly have shown that higher-balance mortgages default and trigger claims against FHA's insurance funds at lower rates than smaller-balance loans.
"FHA is essentially an insurance company," he said, "and you need those (higher-balance) loans to spread the risk," just as private sector insurers do.

The Republican bill's call for a 5 percent minimum down payment on FHA loans also is likely to draw criticism from industry groups.

The National Association of Realtors and the National Association of Home Builders have opposed such a move in the past, arguing that there is no statistical evidence that adding 1.5 percent onto the current 3.5 percent minimum would significantly affect default probabilities of new FHA loans.

However, the higher down payments, along with the bill's prohibition of financing of closing costs, would make home purchases more difficult for substantial numbers of consumers.

Chappelle estimates that "40 percent of FHA borrowers would fall out" -- unable to afford the transaction -- "if they go to 5 percent down."

The bill also proposes shifting the Agriculture Department's rural housing program to the U.S. Department of Housing and Urban Development. A Republican staff member said "HUD has the housing responsibility and the expertise," so the change is logical.

However, proponents of the rural housing programs may not want to risk being swallowed up in an urban-oriented agency, nor is the Agriculture Department likely to want to lose a chunk of its traditional turf.
Where's the bill headed? Republicans say they are merely seeking to move the agenda they share with the Obama administration -- the smaller footprint concept -- which is, in turn, part of a larger agenda to phase out Fannie Mae and Freddie Mac.

Passage of the bill by the full House appears to be a real possibility, as Republicans are in control on that side of Capitol Hill.

But all bets are off in the Senate, where Democratic support for continuing FHA's role in the market is far stronger, and where dramatic cuts in loan limits in places like California, New York, Massachusetts and the East Coast's expensive markets likely won't fly.

Ken Harney writes an award-winning, nationally syndicated column, "The Nation's Housing," and is the author of two books on real estate and mortgage finance.

San Antonio Bcycle

2011-05-26T21:50:00.000-07:00

San Antonio is the 1st city in Texas to have a B-cycle system! San Antonio B-cycle is the newest way for residents to get a different look at their city, especially if they live or work downtown!

The system launched on March 26th and is easy to use. Simply purchase a membership online or at the Central Hub at Hemisfair Park, then swipe your membership card at any kiosk location, grab your bike and go! Membership covers all rides within 30 minute increments. Once you complete your trip, simply return the bike to the nearest kiosk.

Annual Memberships are currently available for $25.00

For more information go to: www.sanantonio.bcycle.com, www.sanantonio.gov/oep/sabikes/ or call the Office of Environmental Policy at 210-207-0255.

5 Things You Didn’t Know Could Get Your Home Sold (and Why Buyers Should Think Twice Before Biting!)

2011-05-24T09:43:00.000-07:00

(Trulia) We all know buyers care about beds, baths, square feet and location, location, location. But inside the minds of American homebuyers lurk a handful of surprising housing-related hot buttons which inspire offers and get homes sold.

As you’ll see, these hot buttons largely play on homebuyers’ fantasies about how their life will be different/better/perfect if they buy a particular home, and on the neuropsychology underlying how buyers experience light and space. But if you’re a buyer, beware: the things you think will make you happy may not have the effect you think.

1. Your Neighborhood Trader Joe’s. Or Costco, or other outpost for daily living supplies that tends to have a rabid following. On a recent HuffingtonPost article about the Trader Joe’s grocery chain, one visitor left a comment to the effect that they selected their home largely based on its proximity to a Trader Joe’s! And buyer’s brokers will tell you - homebuyers’ eyes light up and they pay a much closer look to homes near Whole Foods, a local favorite coffeehouse or farmer’s market.

This specific location factor vividly colors in a buyer’s mental image of strolling a block or two over to do something they already like - or need - to do very much, and very frequently. So, if your home is near one of these favored local haunts, ask your agent to call it out - by name - in your home's marketing flyers or listing description, if there's room.

2. Staging Your Patio/Deck/Backyard/Front Porch. Homebuyers see the bistro set you have set up on your bedroom balcony and envision rolling out of bed to a Sunday morning brunch as they leisurely peruse the New York Times. It’s a fantasy, after all, so there’s no need to fill in all the details, like who’s preparing that brunch (not to mention who’s squeezing the fresh grapefruit juice)!

They see the picnic table on the deck and think only of the Labor Day barbecues, and not at all of the fact that they struggle to even light a grill.

Many buyers - especially those who have always lived in apartments with little or no outside space - are enamored with the idea of being able to spend time and entertain outdoors, so if you’re a seller with a home that has any outdoor space, it behooves you to stage it with little furniture vignettes that show the space off to its best advantage.

But buyers, beware: studies show that indoor spaces have a much greater impact on a homeowners’ happiness than outdoor spaces, so don’t let the gorgeous English garden sway you into thinking you’ll be sublimely happy in a home where the interior doesn’t do much for you.

3. Tossing the Curtains. Some sellers think they need to install plantation shutters or at least tszuj up their played-out old wicker blinds or other window coverings. Then, cash flow dries up and this is the home staging to-do item that gets tossed off the list. Alison Whitelaw, architect and vice president of the Academy of Neuroscience for Architecture says, "light and color have a definite impact on people's emotional response." Home features that max out the amount of full-spectrum light to which a person is exposed - like sunlight or special bulbs and lamps that seek to mimic natural light - have been proven to actually cause people in the home to feel better - even happier.

So, ditch your curtains. Unless you're prepared to invest in new window coverings, it might be preferable to simply toss your blinds and curtains altogether. It might be tough to get full privacy while you're still living in the home, but the buyers who see your house will rate it as lighter, brighter, more spacious and simply better than they would have, with the rooms darkened or even the curtains opened, but still on the rod.

Buyers - take note. If you find a house dark or dreary, have someone in your house hunting group open the window coverings as much as possible. You might be able to just get rid of them and automatically get the natural light you crave.

4. Shelves, nooks and crannies. Many an apartment dweller decides to buy a home because they are literally busting at the seams. Many are orderly people living disorderly lives because they have a big-time shortage of storage space, and the space they do have lacks structure and order.

Built-in shelves, drawers, closet organizers, nooks and niches all give prospective buyers hope that there's an organized, sophisticated life in their near future if they buy your home - a future in which there's a place for everything, and everything lives in its place. If you have these, highlight them; if you have funky-shaped niches or nooks and are looking for something smart to do with them before you put your home up for sale, consider installing inexpensive (but attractive) shelving.

And buyers, if a home you otherwise love is short on closets or storage, hit up IKEA or California Closets for some quick-and-easy storage, or talk with a handyperson about building some in. It can be much less expensive than you might think.

5. How close your neighborhood stores are to the street. Studies show that homes with high WalkScores are worth more in the eyes of homebuyers - and they sell for more, too. Many sellers say their home is "steps from" this or that amenity or shopping district, totally ignoring the fact that the big box stores are eons away from the street, with massive parking lots lying between a pedestrian and their entrances.

The cute, stroll-ey, neighborhood shopping districts that buyers fall in love with are the ones in which the stores' entry doors are right near the sidewalks - parking, if any, is on the street or behind the store. If your home is located near one of these types of shopping districts - which are often named - make sure that is highlighted in your home's marketing materials.

And buyers - if you're a sucker for this sort of thing, there's certainly no quick fix to make the stores that ARE near your dream home closer to the street or more "strollable." Just keep in mind that even the stroll-ey-ist of districts would love for you to drive over and adopt it as your neighborhood - for an afternoon.

June Newsletter

2011-05-20T08:58:00.000-07:00

Click Here

A Personal Dryer Story...

2011-05-19T10:08:00.000-07:00

I read somewhere that clogged dryer vents were the #1 cause of house fires so when a former client recently contacted me for a recommendation of someone to clear a clogged dryer duct I was eager to help.

Being more of a do-it-yourselfer and, as luck would have it, I have a simple do-it-yourself solution listed my website. In the "Timothy Recommends" section under "Must Haves For Homeowners" you'll find a product called the Lint Eater. My client ordered it right from my site and called when the Lint Eater arrived and I went over to assist.

As you may or may not know, I’m not (usually) one to read instructions so we went right at it. My gut told me to start at the OUTIDE end of the exhaust duct. Removing the cover immediately revealed a large, hard, solid “plug” which has formed over time as moisture extracted from wet clothes in the dryer mixed with the lint.

After removing the plug with my hand I could see that lint had also been accumulating on the inside of the metal duct. After assembling the 4 flexible sections to the larger brush head, I easily ran the brush through clearing the entire line.

Then, after sucking out the lint knocked loose from the brush with a shop vac and the adapter (included in the kit), I swapped out the large brush head with the small one and ran it through the dryer (from the opening for the lint catcher to the flexible hose connection in the back). I reconnected the dryer hose and “we” were done.

Note: For really tough clogs the kit includes a special tool that you can screw on (instead of the brush) and using a drill should rip right through the blockage without damaging most metal ducts. Afterwards, attached the brush head and proceed.

The Lint Eater included everything needed (except for a vacuum) and cleared the line in minutes without even reading the instructions. Whether you need to clear a clog or just want to be proactive, I highly recommend this product. You might even find that missing sock!

P.S. It might be a good idea to read the instructions… just in case and if you aren’t yet a client of mine, don’t be surprised if you receive one as a housewarming gift. I love this thing!

The real issue behind faulty dryer vent

2011-05-19T08:51:00.000-07:00

Daily Real Estate News

Market Snapshot

2011-05-17T07:46:00.000-07:00

Click Here

5 Most Common Short Sale Complaints

2011-05-17T07:28:00.000-07:00

Click Here

2011 BANNER YEAR FOR ALAMO CITY MULTIFAMILY?

2011-05-14T15:51:00.001-07:00

SAN ANTONIO (Marcus & Millichap) – This year could be a banner year for San Antonio's apartment operations, reports Marcus & Millichap in its recently released market outlook.

According to the report, growth in traditional areas — particularly call centers and energy — will remain the backbone of new apartment demand.

In addition, Marcus & Millichap forecasts:

San Antonio metro payrolls will expand 2.4 percent this year as employers add 20,000 positions. The professional and business services and education and health services sectors will increase by 3 percent and 4 percent, respectively.
Builders will deliver 1,200 units this year, a 0.8 percent inventory expansion. An additional 5,200 units are planned, including 2,400 units in the far northwest submarket. Last year, 2,700 apartments were completed.
After improving 180 basis points in 2010, vacancy will fall 120 basis points this year to 7.2 percent. Submarkets in the northern suburbs, where development was concentrated in recent years, will all report vacancies below the market average by year end.
Owners will be more aggressive with rent hikes this year because of tight overall conditions and limited additions to stock. Asking rents will increase 3.4 percent to $729 per month, and effective rents will gain 4.5 percent to $690 per month.

Some Interesting Statistics For Anyone About To List Their Home

2011-05-14T06:36:00.000-07:00

47% of sellers enhanced their curb appeal. Among those who did, most spent between $150 and $1,000 and started up to five weeks in advance.

Sellers who enhanced their cub appeal:

Received their first offer 6 days faster
Sold 7 days faster
For 1.23 percentage points higher in the list-to-sell percent

6 ways buyers can boost qualifying income

2011-05-11T20:39:00.000-07:00

Fast track to mortgage approval

By Jack Guttentag
Inman News™
Editor's note: This is the second column in a three-part series.

Borrowers without the income required to qualify for the mortgage they need have many possible options. "Income adequacy" is governed by general guidelines that can be adjusted to meet individual circumstances. It is "softer" than the down payment requirement, discussed last week.

Maximum debt-to-income ratio

The measure of income adequacy most often used is the sum of the monthly payment on the new mortgage, plus property taxes, homeowners insurance and other debt payments, divided by income. The maximum ranges from 40 percent to 43 percent, but underwriters have discretion to accept higher requirements if they believe that circumstances justify them.

Debt payments are those that extend beyond the next six months and are not deferred for a year or longer. This includes HELOCs and other revolving credits, credit card debt that you don't pay off at month-end, student loans, and alimony and child support payments.

Repairing inadequate income

The obvious way to repair inadequate income is to earn more, but there are also ways to make your existing income count for more. One way is to convince the underwriter that you can safely devote a larger proportion of your income to housing expense than is typical for someone in your income bracket. The best (perhaps the only) way to do that is to document that you have done it in the past -- either as a past homeowner or as a renter.

Another repair could be to induce the underwriter to count income that would ordinarily be disregarded because of a presumption that it won't continue. You rebut that presumption by presenting evidence to the contrary. Such evidence could be historical data showing that the income has in fact been generated over a considerable period. Or the evidence could be forward-looking testimony by someone in position to have knowledge of your prospects, such as your employer. Here are some examples:

If your income has recently increased, obtain a written statement from your employer explaining the reason for the increase and that it is likely to continue.
If your income has recently decreased, obtain a written statement from your employer explaining the reason for the decrease and why it is likely to be temporary.
If you want overtime, commission bonus and/or part-time income to be counted, document that you have received it for two years, along with a statement from your employer that it probably will continue.
If you are in the military and want to claim pay above base pay for your rank (jump, hazard, special assignment, etc.), and/or housing, base and food allowances, provide an explanation of why they will continue. If you are deployed, explain in writing that your pay stubs do not match your W-2s because you have been deployed to a war zone and that your income is not taxed.
If you have investment income from an unusual source that you believe to be stable, put your reasons in writing along with data on investment performance.

Borrowers qualifying with business income are subject to much more complicated rules that require a separate column.

Using the income of others near and dear

Co-signers: A co-signer assumes responsibility for payment of a debt in the event that the borrower doesn't pay. However, co-signing on a mortgage is severely restricted, with the result that it is not much used.

Non-occupant co-borrowers: FHA allows a borrower to include the income of non-occupant co-borrowers who are close family members or can demonstrate a long-standing relationship with the primary borrower. That means that parents who want to help their children become homeowners can do it by becoming co-owners and co-borrowers. The loan amount must fall within FHA limits for the specific area, and the parents must meet the same underwriting requirements as the primary borrower.

Participating investors: Non-occupant co-borrowers are not allowed on conventional loans, but willing parents can become participating investors in a purchase classified as an investment rather than for occupancy. For the parents, being participating investors is the same as being non-occupant co-borrowers, since in both cases they are part owners, liable for the debt, and they must meet the same underwriting requirements as the primary borrower.

In most cases, mortgages on investment properties require 20 percent down, and are priced 0.75 percent to 1 percent higher than comparable loans to permanent occupants.

Reducing debt payments

If the debt-to-income ratio is swollen by large monthly debt payments, there may be ways to reduce the payments. Borrowers who have a 401(k) can borrow against it and use the proceeds to pay down other debt. Loans from 401(k) are not included in the debt ratio. Reducing debt payments by extending maturities is an option that should be exercised with care because longer-maturity debts usually have higher interest rates.

The writer is professor of finance emeritus at the Wharton School of the University of Pennsylvania. Comments and questions can be left at http://www.mtgprofessor.com/.

Good Advice with One Exception

2011-05-10T06:00:00.000-07:00

Adding a half or full bath is a must in homes with only 1 bath .

Visit msnbc.com for breaking news, world news, and news about the economy

It might be in the hall but let's face it. If it's your only bath, it's your Master Bath and no matter how neat you are, your guests shouldn't be using it.

REALTOR® Magazine-Daily News-4 Keys to Selling in Today's Market

2011-05-05T05:11:00.000-07:00

REALTOR® Magazine-Daily News-4 Keys to Selling in Today's Market

Prioritize trade-offs in house-vs.-condo decision

2011-04-29T20:32:00.000-07:00

Click Here

KINETIC CONCEPTS (KCI) CONSTRUCTS NEW HQ

2011-04-29T20:26:00.001-07:00

SAN ANTONIO (REBusinessOnline) – A wound care and therapeutic systems provider is constructing a 100,000-sf headquarters facility on I-10, just south of Hausman Rd. in the Alamo City.

Kinetic Concepts’ three-story office will be designed and built by a team comprised of Koontz McCombs Construction Ltd and RVK Architects.

REALTOR® Magazine-Daily News-Is This Really a Buyer's Market?

2011-04-29T09:24:00.000-07:00

REALTOR® Magazine-Daily News-Is This Really a Buyer's Market?

Foreclosures keep down BCAD appraisals

2011-04-28T06:38:00.000-07:00

Click Here to read the full Express News article

HUD offers green loans for home energy improvement

2011-04-27T07:04:00.000-07:00

HUD offers green loans for home energy improvement

Double Dip Ahead?

2011-04-27T06:17:00.000-07:00

Effect of Short Sale or Foreclosure on Your Credit Score

2011-04-27T06:16:00.000-07:00

5 Steps to Deciding How Much to Offer – or Ask – for Your Home (Trulia)

2011-04-26T07:28:00.000-07:00

One of the hardest, most important decisions homebuyers face is how much to offer for their home. And the glut of information on the web about real estate only makes buyers even crazier than the decision itself does. Supply, demand, foreclosure rates, mortgage rates – buyers think they need to run spreadsheets and do fancy math to make a smart offer. And THATcan be super intimidating.

But the fact is, there is a pretty short list of steps you need to take to make a smart offer – one that gets you a great value, but is also likely to be successful at getting the property. (A low offer does not make for a great deal if you don’t get the house!) And most of the same steps apply to sellers trying to set the list price that will lure the most buyers (and net them the most cash)!

Step 1: What do the “comps” say? First things first. When it comes to pricing a home, or making an offer to buy one, the ‘first thing” is the home’s fair market value. Both buyers and sellers should work with an experienced, local agent to understand what the home’s value is. Most agents will do this by offering you a look back at similar properties that have recently sold in the neighborhood – i.e., the comparable sales, or comps.

HINT: You can also find comps for a home listed on Trulia by scrolling down to the section labeled Sold Homes near 1234 Merriweather Lane on the property's Trulia listing page.

Ideally, look for comparables that are very recent sales (3 months or less before you’re listing or buying), very similar properties (i.e., same number of bedrooms, bathrooms, square footage; and similar style, condition and amenities). If you do get into contract, these may be the same comparables which will be considered by the appraiser, so looking at them before making an offer can:

(a) provide factual support for a lower-than-asking offer or for the asking price, in a negotiation, and
(b) result in a sale price at which the property will actually appraise, later on - avoiding the common glitch of the deal falling through because the appraisal comes in way below the agreed-upon price.

Also, looking at comps is the first step for locating a home’s seller and prospective buyer in the reality-based universe of current home values. The fact that you bought or refinanced the place at a given value 5 or 6 years ago is entirely irrelevant to what it’s worth today, as is the buyer’s belief that the place was worth $100K less at the trough of the market, in 2009.

Step 2: What can you afford? This step is much more critical for buyers than for sellers. (Unfortunately, sellers, the facts that you need to net a particular amount to buy your next home or pay your existing mortgages or credit card bills off has no relationship whatsoever to the price at which you should list or will sell your home.)

Buyers – it’s a must to make sure that your offer price for any given home falls within the range of what is affordable for you. This includes offering a price within the range for which your mortgage was preapproved, but also includes making sure that the monthly payment and cash you’ll need to close the deal (down payment + closing costs) are affordable in light of the particular house. If, for example, the property will require repairs for which you’ll need to conserve cash, or has HOA dues you hadn’t planned on, you may need to rejigger your offer accordingly.

Step 3: What’s your competition? (And what’s theirs?) This is another step at which it’s critical to check in with your agent. You need to know what level of competition you’ll face – whether you are a buyer, or a seller. As a seller, you can find this out by looking at things like how many comparable homes are listed in your town or your neighborhood in your general price range (your agent will brief you on this). Sellers should also consider what type of transactions their home will be up against – the more distressed properties (foreclosed homes and short sales) with which your home must compete, the more aggressive you must be with your pricing to get your home sold.

The more competition you have, as a seller, the lower you should tweak your list price to attract buyers to come see your home. (And the more buyers come to see your home, the more likely you are to get an offer!)

Buyers should also be cognizant of the competition level they will face for homes. Believe it or not, even on today’s market there are properties and neighborhoods in which multiple offers are the name of the game. Work with your agent to understand the list price-to-sale price (LP:SP) ratio , which lets you know how much under or over the asking price properties are selling for in your target home’s neighborhood; the higher the LP:SP ratio, generally speaking, the less competition there is among buyers.
Your agent can also brief you on:

(1) The number of offers – if any - that have been presented on “your” property (which the listing agent will usually, gladly tell). If there are other offers, you’ll want to make a higher offer to compete successfully gainst them; and.

(2) The number of days the home has been on the market, relative to how long an average home stays on the market before it sells – the longer it has, the more pressure is on the seller, price-wise, and the less competition the buyer is likely to have. (One exception is the sweet spot scenario, when a property that has been on the market for a long time has a price reduction and gets a bunch of offers as a result! )

4. How much do they need to sell (or buy) it? Buyers: Has the listing in which you’re interested been reduced at all? By how much? Has the listing agent informed you that her clients are highly motivated, flexible or have an urgent need to sell?

Sellers – most buyers are not in a high state of urgency to buy these days, given the long-term, high affordability of homes and interest rates, except when they have an urgent personal reason for moving, e.g., buyers who are relocating for work. Of course, all of real estate is hyperlocal, so it’s important to understand how motivated buyers are in your local market, generally speaking, before you set your list price.

NOTE from Timothy: Since this article was written by Trulia it suggests you use Trulia to search for comps. I recommend using comps from your local MLS system as the data will be more accurate.

Hello from Timothy

2011-04-22T09:57:00.000-07:00

I want to take a moment and post something directly from me to explain a little about previous (and future posts). Unlike other bloggers that share a lot of their own opinions and information in their own words I think there's value in sharing some of the wealth of information that I read daily in industry mail, email, newsletters, etc... I also like to share local news that impacts San Antonio's employment and housing market. I also include maintinence tips for your home.

I hope you find the information I share usefull and if there's anything else you would like hear about, just ask.

4 ways to boost real estate showings - See my note at the end of this post

2011-04-22T09:47:00.000-07:00

REThink Real Estate
By Tara-Nicholle Nelson
Inman News™

Q: It is now April and we have not had a showing in almost a month. Any suggestions how to get more showings? I thought of offering to pay closing costs, lowering the price or offering a flooring allowance. --Frustrated seller

A: All of the above. But in a different order of priority. And that's not all!

One thing that virtually never changes about real estate is this: When a listing won't sell and isn't even getting any showings, a price reduction is the single tweak a seller can make that wields the most potential to get buyers interested and get the home closer to being sold. Is it that buyers are greedy? Not necessarily -- several things make this so.

First: the realities of how buyers search for homes. Well, over 90 percent of buyers look for homes, first, on the Web. As such, they are forced to enter some basic search parameters, which normally include a range of bedrooms, a range of bathrooms, a price range, and an area (city/state or ZIP code). If your home's list price does not fall within a given buyer's price parameters, that buyer will never see your home's listing.

Second: the realities of house hunting. The buyers who aren't coming to see your home are going to look at listings of other homes in your neighborhood, and they're going to see the other homes in town with similar prices and features. And then they'll compare them all. If yours is smaller, less upgraded or not as attractive as other homes at the same price, or is priced higher than really similar homes, buyers will take a pass.

Third: Other than their own space and location needs, buyers have very few reasons to feel urgency to buy on today's market. The buyers that are out there are primarily buying now to take advantage of affordability -- i.e., they want a great deal. So, overpriced homes are an A-class turnoff.

In fact, buyers who may see your overpriced home online, and like it, will actually wait to allow the market to educate you into reducing the price, rather than taking on the unpleasant and often impossible task of convincing a seller of their home's true market value.

While being educated by the market, to a seller, sounds terrible, it's worse for your home to be lagging and you not taking the lesson away.

Clearly, my top-line advice is to lower your price, below a $25,000, $50,000 or $100,000 cutoff, so that your home falls within buyers' search parameters.

And my No. 2 recommendation is something you didn't mention: offer a time-sensitive bonus and/or commission increase to the buyer's broker or agent. The vast majority of the qualified buyers out there are working with buyer's agents. Incent these agents to show your home by offering an extra half or full percentage point of commission, or a bonus to the buyer's agent who brings an offer that closes escrow by a given date.

Ask your own agent about how the agent can publicize this offer to other agents mostly likely to represent your home's target market.

Buyer incentives, like closing-cost credits, can also help distinguish your home from the competition, but they are not likely to dramatically increase showings of a home no one is currently coming to see, unless you're going from zero credit offered to a full 6 percent, which might not be necessary.

If you can reduce the price and offer a bonus or commission increase to the buyer's broker or agent, you will reposition your home, and a buyer's incentive offering won't hurt your case, either.

Instead of offering a flooring credit, though, I'd rather see you consider replacing the flooring that is in bad shape. I'm not big on sellers doing much costly repair work these days, but floors are a massive surface in a home -- replacing them can create an entirely different experience for those who do come see your home, and it can be done cost-effectively (ask your real estate broker or agent for suggestions of flooring installers and which floor materials to use).

Marketing your price-reduced homes as having new floors vs. having a flooring allowance (which implies that it has old, dirty or otherwise undesirable floors) might be the better boost to viewings.

The more viewings you get, the more likely you are to get your home sold.

Tara-Nicholle Nelson is author of "The Savvy Woman's Homebuying Handbook" and "Trillion Dollar Women: Use Your Power to Make Buying and Remodeling Decisions." Tara is also the Consumer Ambassador and Educator for real estate listings search site Trulia.com. Ask her a real estate question online or visit her website, http://www.rethinkrealestate.com/.

From Timothy... Everyone's situation is different. Chances are that if I currently have your home listed we are already communicating about showings. I am happy to provide you with statistics on showings of similar homes as well as other information about, "the competition". In some cases, 2 showings a day is the norm. In others, 2 a week would be exceptional. Whatever the situation please know that I'm doing everything I can to drive buyers into your home because as the above article said, "The more viewings you get, the more likely you are to get your home sold."

Existing-Home Sales Rise in March

2011-04-21T07:00:00.000-07:00

Washington, DC, April 20, 2011

Sales of existing-home sales rose in March, continuing an uneven recovery that began after sales bottomed last July, according to the National Association of Realtors®.

Existing-home sales¹, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 3.7 percent to a seasonally adjusted annual rate of 5.10 million in March from an upwardly revised 4.92 million in February, but are 6.3 percent below the 5.44 million pace in March 2010. Sales were at elevated levels from March through June of 2010 in response to the home buyer tax credit.

Lawrence Yun, NAR chief economist, expects the improving sales pattern to continue. “Existing-home sales have risen in six of the past eight months, so we’re clearly on a recovery path,” he said. “With rising jobs and excellent affordability conditions, we project moderate improvements into 2012, but not every month will show a gain – primarily because some buyers are finding it too difficult to obtain a mortgage. For those fortunate enough to qualify for financing, monthly mortgage payments as a percent of income have been at record lows.”

NAR’s housing affordability index shows the typical monthly mortgage principal and interest payment for the purchase of a median-priced existing home is only 13 percent of gross household income, the lowest since records began in 1970.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 4.84 percent in March, down from 4.95 percent in February; the rate was 4.97 percent in March 2010.

Data from Freddie Mac and Fannie Mae show requirements to obtain conventional mortgages have been tightened, with the average credit score rising to about 760 in the current market from nearly 720 in 2007; for FHA loans the average credit score is around 700, up from just over 630 in 2007.
“Although home sales are coming back without a federal stimulus, sales would be notably stronger if mortgage lending would return to the normal, safe standards that were in place a decade ago – before the loose lending practices that created the unprecedented boom and bust cycle,” Yun explained.
“Given that FHA and VA government-backed loan programs turned a modest profit over to the U.S. Treasury last year, and have never required a taxpayer bailout, we believe low-downpayment loans should continue to be available for those consumers who have demonstrated financial responsibility and are willing to stay well within their budget. Raising the downpayment requirement would unnecessarily deny credit to many worthy middle-class families and veterans,” Yun said.

A parallel NAR practitioner survey² shows first-time buyers purchased 33 percent of homes in March, compared with 34 percent of homes in February; they were 44 percent in March 2010.

All-cash sales were at a record market share of 35 percent in March, up from 33 percent in February; they were 27 percent in March 2010. Investors accounted for 22 percent of sales activity in March, up from 19 percent in February; they were 19 percent in March 2010. The balance of sales were to repeat buyers.

The national median existing-home price³ for all housing types was $159,600 in March, down 5.9 percent from March 2010. Distressed homes – typically sold at discounts in the vicinity of 20 percent – accounted for a 40 percent market share in March, up from 39 percent in February and 35 percent in March 2010.
NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I., said some renters are looking to home ownership as a hedge against inflation. “The typical buyer today plans to stay in a home for 10 years, while rents are projected to rise at faster rates over the next few years,” he said. “As buyers gain more financial security, the advantages of home ownership become more obvious. Rents will continue to trend up, especially in comparison with a fixed-rate loan which provides financial stability and gradual accumulation of equity over time.”

Total housing inventory at the end of March rose 1.5 percent to 3.55 million existing homes available for sale, which represents an 8.4-month supply⁴ at the current sales pace, compared with a 8.5-month supply in February.

Single-family home sales rose 4.0 percent to a seasonally adjusted annual rate of 4.45 million in March from 4.28 million in February, but are 6.5 percent below the 4.76 million level in March 2010. The median existing single-family home price was $160,500 in March, down 5.3 percent from a year ago.

Existing condominium and co-op sales increased 1.6 percent to a seasonally adjusted annual rate of 650,000 in March from 640,000 in February, but are 4.1 percent below the 678,000-unit pace one year ago. The median existing condo price⁵ was $153,100 in March, which is 10.1 percent below March 2010.
Regionally, existing-home sales in the Northeast rose 3.9 percent to an annual level of 800,000 in March but are 12.1 percent below March 2010. The median price in the Northeast was $232,900, down 3.0 percent from a year ago.

Existing-home sales in the Midwest increased 1.0 percent in March to a pace of 1.06 million but are 13.1 percent lower than a year ago. The median price in the Midwest was $126,100, which is 7.1 percent below March 2010.

In the South, existing-home sales rose 8.2 percent to an annual level of 1.99 million in March but are 1.0 percent below March 2010. The median price in the South was $138,200, down 6.6 percent from a year ago.

Existing-home sales in the West slipped 0.8 percent to an annual pace of 1.25 million in March and are 3.1 percent below a year ago. The median price in the West was $192,100, which is 11.2 percent lower than March 2010.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

America's Most Stressful Jobs 2011 - CNBC

2011-04-20T20:02:00.000-07:00

America's Most Stressful Jobs 2011 - CNBC

Check out number 10 :-(

May Newsletter

2011-04-20T07:42:00.000-07:00

Click Here

Want 3.5% of the sales price paid towards your closing costs? FREE?

2011-04-13T17:50:00.000-07:00

Click Here NOW for details on this limited time offer.

COUNTRY ICON SINGS NEW TUNE

2011-04-12T20:30:00.000-07:00

BOERNE (Contact Music) – Country singer George Strait has purchased the Tapatio Springs Golf Resort and Conference Center with business partner Tom Cucisk.

The property, in Boerne near San Antonio, contains three nine-hole courses and more than 100 hotel suites.

The previous owner was Textron Financial Corporation, which paid $4.5 million for the retreat last summer.

COLLEGE POINTS TO WONDERLAND AMERICAS MALL

2011-04-05T16:54:00.000-07:00

SAN ANTONIO (San Antonio Business Journal) – After 27 years of serving the Alamo City, Career Point College opens its nursing school campus at Wonderland of Americas Mall today.

The 42,000-sf facility was announced last November and will offer day, night and weekend classes.

The education provider’s main office and classrooms are at 485 Spencer Ln. on the city's northwest side, where it occupies 85,000 sf.

5 Things Home Buyers Do That Turn Sellers Off (and Kill Deals)

2011-03-30T17:00:00.000-07:00

(TRULIA.COM) In today’s market, every savvy seller wants to know what turns buyers off, so they can get their homes sold as quickly as possible, for as much as possible. But buyers, take note – there is a minefield of seller turn-offs you can trigger that hold the potential to keep you from getting the home you want at the best price and terms, or to unnecessarily complicate dealings with your home’s seller.

Lest you think all of today’s sellers are under the gun and will just put up with whatever behavior buyers dish out, be aware that there are still many multiple offer situations in which buyers have to compete with each other to get a home – buyers who trigger these turnoffs tend to lose in those scenarios. Also, avoiding these seller turnoffs can create a transactional environment of cooperation and avoid things turning adversarial. That, in turn, can empower you to score a better price, get extra items you want thrown into the deal, and even negotiate more flexibility around your escrow and move-in timelines – all perks that can make your life easier and your budget go further.

For sellers, these turnoffs pose the potential of irritating you out of an otherwise good deal – maybe even the only deal you have!

Here’s a few of the most common buyer-perpetuated seller turnoffs, with tips for sellers on how to keep an emotional (and economic) even keel, even if your home’s buyer makes some of these waves:

1. Trash-talking. Trash-talkers are the home buyers who think they’re going to negotiate the list price down by slamming the house, telling the sellers how little it is really worth, how the house across the street sold for nothing, why the school on the corner should make them desperate to give the place away, etc. This strategy never works; in fact, when you attack a seller and their home, you only cause them to be defensive, and think up all the reasons that (a) their home is not what you say it is, and (b) they shouldn’t sell their home to you!

Sometimes this happens with buyers who actually love a house and just walk around it fantasizing about all the ways they would customize it to their tastes while a seller is there. Sellers: avoid being at home while your home is being shown. Buyers: save your commentary for your agent; if you do encounter the seller in person keep your conversation respectful and avoid critiquing the house or the list price.

2. Being unqualified for mortgage financing. When a seller signs a buyer’s offer, most often the seller agrees to effectively pull the home off the market, forgoing other buyers who might be interested. As such, the only thing worse than getting no offers on your home is getting an offer, getting into contract, then having the whole thing fall apart when the buyer’s loan falls through – especially if that could have been predicted or avoided up front.

Sellers: Work with your agent to vet your home’s buyers’ qualifications, including their loan approval, down payment and earnest money deposit – before you sign a contract. It’s not overkill for your agent to call the buyers’ mortgage pro before you sign the contract and get a level of comfort for how robust their qualifications are. Buyers: Get pre-approved. Seriously. And make sure that you don’t buy a car, quit your job, deposit lottery winnings or do any other financial twitchery between the time you get loan approval and the time you close escrow on your home.

3. Making unjustified lowball offers. No one likes to feel like they are being taken advantage of. And sellers generally know the ballpark amount that their home is worth, as well as what they need to sell it for to get their mortgage paid off. Yes – the price you pay for a home should be driven by its fair market value, rather than the seller’s financial needs, and deals are more available in a market like the current one, in which supply so vastly outpaces demand. But just throwing uber-lowball offers out at sellers hoping one will hit the spot is not generally a successful strategy, especially if you really, really want a given property.

Sellers: Don’t get overly emotional about receiving a lowball offer; counter at the price you and your agent decide makes sense based on the total circumstances, including your motivation level, recent comps and the interest/activity level your listing is receiving. Buyers: Work through the similar, nearby homes that have recently sold (a/k/a comparables) before you make an offer to factor the home’s fair market value into your offer price – also factor in how much you want the place, too. Don’t be amazed if you make an offer far below asking, and don’t get a response.

4. Renegotiating mid-stream. Sellers plan their finances, moves and - to some extent – their lives around the purchase price a buyer agrees to pay for their home. If you get into contract to buy a home, find out during inspections that costly repairs need to be made, then propose a lower sale price, repair credit or even actual repairs to the seller, that’s sensible and fair. But if you were aware that the property needed a lot of work before you made an offer on it, then you come back asking for beaucoup bucks’ worth of credit or price reductions midstream, expect the seller to cry foul. And holding the seller up two weeks into the transaction because you caught a case of buyer's remorse? Not cool, and not likely to foster the spirit of cooperation you may need to get your deal closed.

Sellers: avoid mid-stream price renegotiations by having a full set of inspection reports and repair bids at hand when you list your home. Buyers: try to avoid renegotiating the entire deal unless you get some major surprises at your inspections or inflating small repairs to try to justify a major price cut.

5. Misleading or setting the seller up. Remember when we talked about buyer turn-offs? Being misled by listing photos or very fluffy property descriptions was high on the list. The same goes for sellers.Offering way over asking with the plan to hammer the seller for a reduction when the house doesn’t appraise at the purchase price? #LAME Making an as-is offer planning the whole time to come back and ask for every penny ante repair called out by the inspectors? Lame squared.

Sellers: If you get multiple offers and are tempted to take a sky-high one or one that claims to be all cash, consider requesting proof that the buyer has sufficient funds to make up the difference between what you think the home will appraise for and the actual sale price, and statements showing the cash truly exists. Buyers: Don’t be lame. I’m not saying you have to tell the seller exactly what your top dollar is, but making offers with terms designed to intentionally mislead is really, really bad form – and can result in losing the home entirely if and when your bluff gets called.

NATIONWIDE IS ON WESTOVER HILLS' SIDE

2011-03-29T21:02:00.000-07:00

SAN ANTONIO (San Antonio Business Journal) – Nationwide Insurance breaks ground today on its new 300,000-sf sales and service operations center in the master-planned Westover Hills community.

Two years ago, the insurance company announced plans for the center near Hyatt Resort Dr. and SH 151.

When completed, the facility will house 800 employees and allow the company to expand operations while consolidating some office space. It is expected to be completed in 2012.

Home Maintenance Tip...

2011-03-24T04:59:00.000-07:00

Keeping Your Water Heater Fit
Most people don't give much thought to their water heater - they just turn on the faucet and expect hot water to come out. Water heaters are relatively maintenance free, and you can keep your water heater in peak operating condition just by performing two simple maintenance tasks every six months: test the pressure valve and then flush the tank.

If the pressure release valve is not operating properly, the tank can potentially over pressurize and explode. Flushing the tank prevents sediment build up, which can reduce your water heater's energy efficiency and clog your water lines. Consult your owner's manual or other maintenance guide for instructions on how to safely perform these maintenance tasks.

J. CREW HIRING 200 IN ALAMO CITY

2011-03-15T20:40:00.001-07:00

SAN ANTONIO (San Antonio Business Journal) – J. Crew Group is opening a new customer contact center in the Alamo City. The company plans to hire more than 200 over the next three years.

The 45,000-sf facility at 814 Arion Pkwy. in north central San Antonio is expected to be fully functional by mid-summer 2011.

REALTOR® Magazine-Daily News-Future of 30-Year Mortgages at Risk?

2011-03-10T05:59:00.000-08:00

REALTOR® Magazine-Daily News-Future of 30-Year Mortgages at Risk?

ALAMO CITY'S PEARL GETS A POLISH

2011-03-07T21:47:00.001-08:00

SAN ANTONIO (San Antonio Express-News) – The Pearl Brewery’s residential stock is about to go up. Developers are entering the arena thanks to the completion of the Park amphitheater and the addition of more retail space.

Two upcoming residential developments, both slated to open at the Pearl in late 2012, are expected to bring the apartment tally to about 300 units.

Infrastructure work has already begun on the 211-unit Can Plant apartments. Just north of the building, a 150,000-sf project will include about 73 residential units along with office and retail space for shopping and restaurants.

The outdoor amphitheater, dubbed the Park, was recently completed on a hill along the San Antonio River.

FEDERAL HELP FOR DISLOCATED MILITARY EMPLOYEES, SPOUSES

2011-03-04T17:55:00.000-08:00

WASHINGTON, D.C. (U.S. Department of Labor) – The U.S. Department of Labor announced this week more than $6.1 million in federal assistance for about 1,450 Texans affected by 2005 Base Realignment and Closure actions.

The National Emergency Grant will provide retraining and re-employment services to dislocated workers as well as military spouses.

“Civilian defense workers and military spouses are important players in maintaining the security of our nation,” said Secretary of Labor Hilda L. Solis. “When their jobs disappear as a result of base realignments, it is our government’s responsibility to provide services that will put them on a path toward new work opportunities.”

Awarded to the Texas Workforce Commission, this grant will be operated by the Alamo Workforce Development Board, Central Texas Workforce Development Board, North East Texas Workforce Development Board and Upper Rio Grande Workforce Development Board.
Realignments at the affected military installations covered under this grant began in 2007 and will continue through Sept. 15, 2011.

Roughly half of the $6.1 million will be released initially. Additional funding up to the amount approved will be made available as the state demonstrates a continued need for assistance.

Home Improvement - FHA 203k and 203 Streamline Loans may be just what you need for that "fixer-upper".

2011-03-03T06:02:00.000-08:00

Check out this video

4 Tips to Avoid Foreclosure Scams

2011-02-24T18:16:00.001-08:00

More home owners are falling prey to scams that promise to “stop the foreclosure” and “save your home.”

The Federal Trade Commission has released a report to help borrowers avoid falling victim to such scams, here are a few of its tips:

1. Watch for outlandish claims. "Eliminate your debt!" and "We guarantee to stop the auction" are too good to be true. If it sounds like an easy way out, don’t believe it, the FTC warns.

2. Don't pay up-front costs. Consumer investigator Dale Cardwell warns home owners to beware of any deal that requires you to pay up-front fees. Cardwell says you shouldn’t pay any business or person who promises to modify your loan because only your lender can do that.

3. Beware of those imitating government agencies. Watch out for scammers who may capture logos, names, photos, and Web sites to make it look like they are part of a government agency.

4. Make payments only to your lender, no one else. Never write a check to someone else instead of your lender for your mortgage. Scammers may present an official looking reinstatement package and tell you to pay everything to them. Send payments only to your loan servicer, experts recommend.

Source: “In Saving Home, Steer Clear of Scams,” The Atlanta Journal-Constitution (Feb. 13, 2011)

San Antonio’s grocery store sector set to heat up with new Whole Foods

2011-02-18T18:00:00.000-08:00

SAN ANTONIO (San Antonio Business Journal) Whole Foods Market has inked a long-term lease for a new store at The Vineyard, a far North Side shopping center that is located along Loop 1604 and Blanco Road.

The new Whole Foods outlet will offer another food-shopping alternative to residents from tony communities such as Stone Oak, Hill Country Village and even Shavano Park.

The new outlet also marks the first expansion by a national grocer in San Antonio in some 10 years — outside of the dominate local player HEB.

Texas on the Brink

2011-02-18T17:00:00.000-08:00

The Texas Legislative Study Group, a HouseDemocratic caucus, has released the 2011 version of Texas on the Brink.

The report compares Texas to the rest of the country based on various functions of government, including public education, healthcare, taxation, and air quality. The numbers suggest the Lone Star State is not doing well in most categories, including percentage of adults with a high-school diploma, healthcare spending per capita, and uninsured children.

“We've earned a reputation as first in jails and last in school,” said Elliott Naishtat (D-Austin). “Given that we lead the nation in the number of people we execute and the fact that we're last in high school graduation rates, I'd say that we've lived up to our reputation.”

Timothy DeWein Named Five Star Real Estate Agent By Texas Monthly Magazine

2011-02-18T15:00:00.000-08:00

Tips for Sellers

2011-02-17T09:49:00.001-08:00

Repair and Replace Kitchen Counters to Stay on Top of Scratches
You can repair kitchen counter mishaps with only a little time and money. Big boo-boos, however, will need professional help. Read
Repair and Replace Door Hardware To Update Rooms
Repair and replace door hardware that makes rooms look dingy and outdated. We’ll show you how door and cabinet pulls, knobs, and hinges can give your home new sparkle. Read
Repair Walls to Give Rooms A Fresh Face
Sooner or later you’ll repair walls that make rooms look worn out. Erasing dings, dents, and scuffs is an easy fix. We’ll show you how. Read

Keller Williams Top Office(s) in San Antonio

2011-02-15T15:48:00.000-08:00

The numbers are in...
Click here to see the MLS numbers for San Antonio - 2010

H-E-B Stores Spring Up This Year

2011-02-15T15:37:00.001-08:00

SAN ANTONIO (San Antonio Express-News) – H-E-B will open 19 stores in Texas this year, with at least four in or around the Alamo City. A 112,000-sf store opened Friday at 20725 SH 46 in Bulverde. It replaced an older nearby store. Some 240 employees were transferred to the new H-E-B. An additional 160 were hired. Another store is expected to open March 4 at 5910 Babcock Rd. in San Antonio. More H-E-B Plus-styled stores will open in the fall, including one at 19565 I-35 S. in Lytle and one at 420 W. Bandera Rd. in Boerne.

Bexar County Foreclosure Postings Up

2011-02-15T15:36:00.000-08:00

ADDISON (Foreclosure Listing Service) – Quarterly foreclosure posting activity in Bexar County topped 4,300 for the fifth time in this foreclosure cycle, according to the latest report from Foreclosure Listing Service.
“From January through the upcoming foreclosure auction on March 1, 4,330 postings have been filed threatening properties in Bexar County with foreclosure," said FLS President George Roddy Sr. in the report.
That's about even with first quarter 2010, which had 4,346 postings, but it's up 1 percent from fourth quarter 2010, which had 4,268 postings.
Foreclosure posting activity in first quarter 2011 in Bexar County was 105 percent higher than it was eight years ago when FLS began tracking foreclosure activity there.
Here's how other areas tracked by FLS compared:

	Total Postings 1st Quarter 2011	% Change from 1st Quarter 2010	% Change from Previous Quarter
Austin metro	4,186	up 6%	up 5%
Travis County	2,245	up 7%	up 3%
Williamson County	1,310	up 4%	up 4%
Hays County	437	up 6%	up 22%
Bastrop County	194	down 2%	down 1%
McLennan County	367	up 18%	down 7%
Bell County	592	up 7%	up 5%
Bexar County	4,330	no change	up 1%
Comal County	296	up 2%	down 3%
Guadalupe County	258	down 8%	up 2%

FHA Mortgage Insurance to Increase April 18, 2011

2011-02-15T15:30:00.000-08:00

For loan terms greater than 15 years; The monthly mortgage insurance factor is raised from .90 to 1.15 for loans with less than 5% down. Loans with 5% or more down the mortgage insurance factor is raised from .85 to 1.10

For loans with 15 years or less on the term; The monthly mortgage insurance factor is raised from .25 to .50 for loans with less than 5% down. Loans with the 15 year term than have more than 5% down will have a monthly factor of .25

These figures going up means a higher mortgage payment. Rates are still great- the market is starting to recover and now lending once again is getting more expensive and tighter. The time to buy is NOW.

See what public information is on file about your home FREE

2011-02-15T09:32:00.000-08:00

To receive your free report,,,

Fill out my form!

New Listing (Tri-Plex) in Mahncke Park

2011-02-14T18:00:00.002-08:00

422 Pershing Ave.

New Listing in Olmos Park Terrace

2011-02-14T18:00:00.001-08:00

269 W. Hermosa

FICOs and FHA: 2 big lenders loosen up | Inman News

2011-02-12T09:36:00.000-08:00

FICOs and FHA: 2 big lenders loosen up | Inman News

Alternatives to Granite Countertops

2011-02-06T10:46:00.000-08:00

Some really cool stuff.

Part I
Part II
Part III

Mortgage Rates Stable

2011-02-04T20:38:00.000-08:00

Mortgage rates stable Inflation stays in check as economy improves By Inman News
Inman News™
February 03, 2011
Mortgage rates were little changed this week on news that the economy improved and inflation remained in check at the end of 2010, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.
The economy grew at an annual rate of 3.2 percent during the fourth quarter, up from 2.6 percent in the third quarter, Freddie Mac Chief Economist Frank Nothaft said, while the core price index for consumer expenditures rose by an annualized rate of 0.4 percent -- the smallest increase since records began in 1959.
Rates on 30-year fixed-rate mortgages averaged 4.81 percent with an average 0.8 point for the week ending Feb. 4, essentially unchanged from 4.8 percent last week but down 5.01 percent from a year ago. The 30-year fixed-rate mortgage hit a low in records dating to 1971 of 4.17 percent during the week ending Nov. 11.
The 15-year fixed-rate mortgage was also stable, averaging 4.08 percent with an average 0.8 point, compared with 4.09 percent last week and 4.4 percent a year ago. The 15-year fixed-rate loan hit a low in records dating back to 1991 of 3.57 percent in November.
Rates on 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 3.69 percent this week with an average 0.7 point, little changed from 3.7 percent last week but down from 4.27 percent a year ago. The 5-year ARM hit a low in records dating to 2005 of 3.25 percent in November.
The 1-year Treasury-indexed ARM averaged 3.26 percent this week with an average 0.6 point, unchanged from last week and down from 4.22 percent a year ago.
Looking back a week, demand for purchase loans was up a seasonally adjusted 9.5 percent during the week ending Jan. 28 compared to the week before, the Mortgage Bankers Association said in releasing the results of a separate applications survey.
The survey did not include a holiday adjustment for the Martin Luther King Jr. Day holiday, the MBA said. Looking at the past two weeks, purchase loan applications were flat, and refinance applications down about 5 percent. Looking back a year, demand for purchase loans was down 21.4 percent.
In a Jan. 14 forecast, MBA economists said they expect rates on 30-year fixed-rate loans will climb to an average of 5.5 percent during the final months of 2011, and to an average of 6.1 percent during the fourth quarter of 2012.

DECEMBER 2010 TEXAS HOME SALES DOWN, PRICES UP

2011-01-28T20:22:00.000-08:00

COLLEGE STATION (Real Estate Center) – Just over 15,740 existing homes were sold in Texas last month, according to newly released data from Texas Multiple Listing Services (MLS). That's a 3 percent drop from December 2009.
Meanwhile, the median price for an existing home increased by 4 percent last month to $150,500, and there was a 7.2-month inventory.
December 2010 MLS data for many Texas cities (current as of Jan. 27, 2011) are available on the Real Estate Center website. Here is a sampling:

Cheaper to buy than to rent in 72% of largest U.S. cities

2011-01-24T06:00:00.000-08:00

Cheaper to buy than to rent in 72% of largest U.S. cities

Trulia: Former homeowners flooding rental market

By Inman News, Monday, January 24, 2011.

Inman News™

Despite the rising number of renters across the country, it is cheaper to buy a home rather than rent one in 72 percent of the 50 largest cities in the U.S., according to an index released by real estate search and marketing site Trulia.

"Since the start of the 'Great Recession,' many former homeowners have flooded the rental market. Following the principles of supply and demand, renting has become relatively more expensive than buying in most markets," said Pete Flint, CEO and co-founder of Trulia, in a statement.

"Though necessary for achieving true economic recovery, stricter bank lending practices have also further aggravated the struggling housing market in the short term. Even highly qualified homebuyers face intense scrutiny on their income, savings, existing debt and credit history before they can get a mortgage loan."

Trulia's rent vs. buy index compares the median list price with the median rent on two-bedroom apartments, condominiums and townhomes listed on Trulia.com as of Jan. 10, 2011.

A price-to-rent ratio of 1 to 15 means that it's much cheaper to buy than to rent in a particular city. A ratio between 16 and 20 means that it's more expensive to rent than to buy, but, depending on the family's situation, buying could "make financial sense," the site said. Any ratio above 20 indicates that owning is much more costly than renting in a city.

In 36 out of 50 of the country's most populous cities, buying a two-bedroom home is less expensive than renting one. These cities include many areas that have been hit hard by foreclosures, such as Las Vegas, Phoenix and Fresno, Calif.

Top 10 cities to buy vs. rent:

Rank	City	State	Price to Rent Ratio
1.	Miami	Fla.	6
2.	Las Vegas	Nev.	6
3.	Arlington	Texas	7
4.	Mesa	Ariz.	8
5.	Phoenix	Ariz.	8
6.	Jacksonville	Fla.	8
7.	Sacramento	Calif.	10
8.	San Antonio	Texas	11
9.	Fresno	Calif.	11
10.	El Paso	Texas	11

Source: Trulia

In 10 cities, renting is cheaper, but buying might make more financial sense, according to Trulia. These cities include Los Angeles, Boston, and Fort Worth, Texas.

The index considers the total cost of homeownership compared to the total cost of renting. Calculations for the total cost of homeownership include mortgage principal and interest, property taxes, hazard insurance, closing costs at time of purchase, homeowners association dues, and private mortgage insurance. The homeownership cost calculation also includes tax advantages from mortgage interest, property tax and closing-cost deductions.

Calculations for total rental cost include rent and renters insurance.

The total cost of homeownership was highest, compared to the cost to rent, in New York; Seattle; Kansas City, Mo.; and San Francisco.

Top 10 cities to rent vs. buy:

Rank	City	State	Price:Rent Ratio
1.	New York	N.Y.	31
2.	Seattle	Wash.	24
3.	Kansas City	Mo.	21
4.	San Francisco	Calif.	21
5.	Memphis	Tenn.	20
6.	Los Angeles	Calif.	20
7.	Fort Worth	Texas	19
8.	Oakland	Calif.	18
9.	Portland	Ore.	18
10.	Albuquerque	N.M.	18

Source: Trulia

"Although owning a home is relatively more affordable in most cities, market conditions have caused an interesting demographic swap between traditional renters and buyers," said Tara-Nicholle Nelson, consumer educator for Trulia, in a statement. Nelson is also an Inman news columnist.

"For example, lifelong renters are seizing the opportunity to become homeowners while affordability is high. At the same time, a growing number of longtime homeowners are finding themselves tenants -- some by choice and others by necessity."

Through newly acquired startup Movity, Trulia created interactive maps comparing each city's population, projected job growth, and unemployment and foreclosure rates.

SIGNS OF OFFICE, INDUSTRIAL RECOVERY ALONG I-35

2011-01-21T11:15:00.000-08:00

AUSTIN/SAN ANTONIO (NAI REOC) – Momentum that has slowly carried the San Antonio office leasing market along a path towards recovery over the past 12 months continued in the fourth quarter with more than 400,000 sf of gross leasing activity, according to the research department of local commercial real estate firm NAI REOC San Antonio.
“In all, more than 1.5 million sf of leases were signed in 2010, which surpassed the 2009 performance of 1.2 million sf, indicating the general upswing of office market activity,” said Kim Gatley, senior vice president and director of research for NAI REOC San Antonio.
Meanwhile, Austin’s industrial leasing market, totaling more than 37.3 million sf, also showed signs of recovery in the second half of the year with a steady stream of leasing activity that tightened the citywide vacancy rate to 20 percent compared with the record high of 24 percent recorded at mid-year and 22 percent recorded a year ago, according to the year-end survey conducted by NAI REOC Austin.
“The lack of new construction coupled with an increase in leasing velocity worked together to lower vacancy rates,” says Mark Milstead, senior broker, industrial services & investments, NAI REOC Austin. All sectors of the Austin MSA had vacancy rates decline except for the east submarket.

$400M JOINT VENTURE POWERS GABLES DEVELOPMENT

2011-01-19T06:36:00.000-08:00

SAN ANTONIO (GlobeSt) – USAA has inked a $400 million joint venture (JV) deal with Gables Residential so that the Atlanta-based REIT can fund advancements in its development pipeline.
“We have a partner in USAA that has similar investment goals and the financial strength and experience to allow us to continue our development program of delivering high quality communities in our core markets,” said David Fitch, Gables president and CEO.
The JV will develop Class-A multifamily properties at select urban infill sites. So far, the JV has successfully closed on three stabilized properties, two of which are in Texas. Development has begun on Gables Fairmount, a 333-unit Class-A apartment project in Dallas, and Gables Bering, a mixed-use development in Houston offering 306 apartments and 11,200-sf of retail.
“This venture represents a unique opportunity to strategically add premier multifamily assets to our portfolio of investments,” said USAA Real Estate Company chairman and CEO Pat Duncan. “We look forward to building a strong relationship with the Gables team and engaging in future opportunities.”

Keller Williams Realty to Launch eEdge, the Real Estate Industry’s First Comprehensive Agent Business Platform

2011-01-10T21:57:00.000-08:00

Click Here to see what Keller Williams is doing to make your closing go smoother.

New Listing in Monticello Park - Woodlawn Lake Area

2011-01-06T11:13:00.001-08:00

2215 W. Summit Ave. San Antonio TX

For Sale

279,900

2215 W. Summit Ave.

San Antonio, TX 78201

3 Beds | 2 Baths

View Details

TexSan Heart Hospital Becomes Part of the Methodist Healthcare System

2011-01-04T17:17:00.000-08:00

HEART HOSPITAL BEATS FOR NEW OWNER

SAN ANTONIO (San Antonio Business Journal) – Methodist Healthcare System ended the year by acquiring TexSan Heart Hospital from MedCath Corp. and its physician owners.
The property was purchased for $78.5 million with MedCath expecting to receive $58 million after fees and acquisitions costs related to the minority interest owned by heart doctors.
The Alamo City heart hospital opened in 2004 and in 2009 received an Excellence Award from Healthgrades, an independent health care rating organization.
Methodist Healthcare is San Antonio’s largest health system.

2011 San Antonio Housing Forecast

2011-01-04T10:18:00.000-08:00

I attended the 2011 San Antonio Housing Forecast sponsored by SABOR (The San Antonio Board of Realtors) this morning.

Guest Speakers Included:

Honorable Julian Castro – Mayor of the City of San Antonio – Topic: City of San Antonio Update

Charles McMillan – 2009 President of the National Association of REALTORS^® – Topic: State of the National Market

Jim Gaines – Research Economist at Texas A&M Real Estate Research Center – Topic: State of the Texas Market

Michael Mengden – Broker/Owner of Terra Residential Services – Topic: Property Management Update

Bob Gardner – CEO of Legacy Mutual Mortgage – Topic: State of the Local Market, including San Antonio subdivision information

Here are links to the Local, State, and National presentations:
Local (San Antonio)
State (Texas)
National

Timothy DeWein - San Antonio Real Estate

Industry's Past Due Mortgages = 6,350,000

Apartments Hotter Than Houses?

BEXAR COUNTY FORECLOSURES FALL . . . AGAIN

San Antonio Ranked #12 - Best Places to Raise Kids

July Newsletter

New Blog

HWA's New GreenPlus home warranty option!

3 major loan servicers denied incentives

Choosing a Home Inspector and Water Heaters

Harvard: Real estate recovery hinges on return of demand | Inman News

The Battle to Keep Fannie & Freddie – Should We???

Best windows: vinyl, aluminum or wood?

Florida Couple Forecloses on Bank Of America

HUD TO INVESTIGATE MORTGAGE LENDERS WHO DISCRIMINATE AGAINST EXPECTANT MOTHERS AND NEW PARENTS

Real estate 'double dips' in Q1

Case-Shiller: year-over-year price declines in 19 of 20 metros

Case-Shiller metro price changes (March 2011)

NEW Recycling Plan for Multi Family Properties COMING SOON

Draft bill would hike FHA loan down payments to 5%, slash loan limits

Legislation will likely draw fire from industry groups, Senate Democrats

San Antonio Bcycle

5 Things You Didn’t Know Could Get Your Home Sold (and Why Buyers Should Think Twice Before Biting!)

June Newsletter

A Personal Dryer Story...

The real issue behind faulty dryer vent

Market Snapshot

5 Most Common Short Sale Complaints

2011 BANNER YEAR FOR ALAMO CITY MULTIFAMILY?

Some Interesting Statistics For Anyone About To List Their Home

6 ways buyers can boost qualifying income

Fast track to mortgage approval

Good Advice with One Exception

REALTOR® Magazine-Daily News-4 Keys to Selling in Today's Market

Prioritize trade-offs in house-vs.-condo decision

KINETIC CONCEPTS (KCI) CONSTRUCTS NEW HQ

REALTOR® Magazine-Daily News-Is This Really a Buyer's Market?

Foreclosures keep down BCAD appraisals

Click Here to read the full Express News article

HUD offers green loans for home energy improvement

Double Dip Ahead?

Effect of Short Sale or Foreclosure on Your Credit Score

5 Steps to Deciding How Much to Offer – or Ask – for Your Home (Trulia)

Hello from Timothy

4 ways to boost real estate showings - See my note at the end of this post

Existing-Home Sales Rise in March

Washington, DC, April 20, 2011

America's Most Stressful Jobs 2011 - CNBC

May Newsletter

Want 3.5% of the sales price paid towards your closing costs? FREE?

COUNTRY ICON SINGS NEW TUNE

COLLEGE POINTS TO WONDERLAND AMERICAS MALL

5 Things Home Buyers Do That Turn Sellers Off (and Kill Deals)

NATIONWIDE IS ON WESTOVER HILLS' SIDE

Home Maintenance Tip...

J. CREW HIRING 200 IN ALAMO CITY

REALTOR® Magazine-Daily News-Future of 30-Year Mortgages at Risk?

ALAMO CITY'S PEARL GETS A POLISH

FEDERAL HELP FOR DISLOCATED MILITARY EMPLOYEES, SPOUSES

Home Improvement - FHA 203k and 203 Streamline Loans may be just what you need for that "fixer-upper".

4 Tips to Avoid Foreclosure Scams

San Antonio’s grocery store sector set to heat up with new Whole Foods

Texas on the Brink

Timothy DeWein Named Five Star Real Estate Agent By Texas Monthly Magazine

Tips for Sellers

Repair and Replace Kitchen Counters to Stay on Top of Scratches

Repair and Replace Door Hardware To Update Rooms

Repair Walls to Give Rooms A Fresh Face

Keller Williams Top Office(s) in San Antonio

H-E-B Stores Spring Up This Year

Bexar County Foreclosure Postings Up

FHA Mortgage Insurance to Increase April 18, 2011

See what public information is on file about your home FREE

New Listing (Tri-Plex) in Mahncke Park

New Listing in Olmos Park Terrace

FICOs and FHA: 2 big lenders loosen up | Inman News

Alternatives to Granite Countertops

Mortgage Rates Stable

DECEMBER 2010 TEXAS HOME SALES DOWN, PRICES UP

Cheaper to buy than to rent in 72% of largest U.S. cities