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FHA Mortgage Insurance Premium Cut Suspended

Last week, the Department of Housing Urban Development announced a reduction in Mortgage Insurance Premium (MIP).  This reduction has just been suspended by the Trump Administration resulting in the affordability to many first time home buyers.

 

For more information about how much home you can qualify, contact your local loan officer.

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City of San Antonio Increases HIP Limits!

For a first time home buyer, there are many down payment assistance programs that are available. It is important for a buyer to select a loan officer and a REALTOR® who are knowledgeable in these programs so that a buyer can participate if eligible.  Most of these programs do have income, credit and family size criteria and you usually will have to take a home buyer education course (either online or in person). The City of San Antonio’s Department of Planning & Community Development has a great Housing Incentive Program (HIP). They have just announced the maximum sales price for a pre-existing home has been increased to $150,000 and a new construction’s sales price has been increased up to $200,000! The home must be located in the City of San Antonio and meet some condition requirements.  A buyer can get up to $12,000 in assistance!

Be sure to check with your lender or REALTOR® about qualification guidelines as program requirements and/or sales prices may change. For more info on HIP and other city funded programs, check out the City of San Antonio’s Affordable Housing Policy

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King William Historic District Market Update-March 2015

Pioneer Bakery
Pioneer Bakery

Wow, the King William Historic District homes for sale market is really heating up! Like most of San Antonio, King William’s inventory is low.  The average list price is $443,625 with the average sales price being $538,000.  Last March, the average sales price was $287,500.   These figures are based off only a handful of properties. With all the recent attention on our city’s urban core, we are seeing buyers and investors are really take note of this neighborhood.

Contact Sara Gerrish for more info. 210.639.8151

Data from San Antonio Board of REALTORS®

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Homestead Exemption

It’s that time of the year again. File your homestead exemption! If you purchased a property and have occupied it as of January 1st, you are eligible for this exemption.  You may be getting correspondences in the mail offering to file for you. This exemption is FREE to file yourself. The deadline is April 30th of the year you are filing for.  The exemption form may be found at Bexar County Appraisal District’s link below. Other exemptions that you may qualify for are also listed on the form.

Let me know if you have any questions, I would be happy to help.

http://www.bcad.org/data/_uploaded/file/PDFs/50-114.pdf

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Mortgage Rates Are Increasing!

If you have been keeping up with the news, you may now know that mortgage interest rates are no longer record lows.  Financial analysts are predicting rates to increase to 5% by mid 2014.  While in the middle of searching for the perfect home, I have had a couple of buyers’ purchase power decrease because of the rising interest rates.  In one case, a couple I had been working with had their purchase power decreased by fifty thousand over a few months.  Needless to say, it’s pretty shocking news. It is important to make sure you have communication with your mortgage loan officer about how current interest rates can affect you.

Don’t let the rising mortgage rates scare you about the purchase of a home.  Home ownership is still attainable!  It was just a few years ago that we thought an interest rate in the 5’s was rock bottom.

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Home Education Event

RE/MAX Unlimited is holding its first home education fair at the PicaPica Plaza’s new event center located at 910 S.E. Military Dr.

Buyers, are you looking for more information about the home buying process?

What does a REALTOR® do?

Are you ready to build your dream home?

What loan is best for you?

How can I fix my credit?
If you are wondering the answers to these sort of questions, this event is just for you! The public will be able to get their real estate questions answered at no cost. Today’s market is starting to heat up. Now is the time to act to make all your real estate dreams come true!

Professionals from the following will be on site to answer your questions:
RE/MAX Unlimited-San Antonio
imortgage
Mission Title
KB Home San Antonio
Debt Free Angels
Hawx Insurance

Bring the kiddos. Take your pic taken with H-E-Buddy and participate in drawing your dream home. There will be raffles throughout the night.

For more info, contact RE/MAX Unlimited at 210.532.8774

538 Creath Pl

SOLD 538 Creath Pl, San Antonio, TX 78221

Located in one of South San Antonio’s most popular neighborhoods, this 4 bedroom | 2 bath home is ready to be called home! Approx 1860 sq ft per BCAD, this one won’t last long. Take a look below and let us know what you think.

Call me if you have any questions or would like to schedule a showing.

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March ’13 Sales and Prices Are Up!

Wow, San Antonio’s real estate market is booming!  The San Antonio Board of REALTORS® is reporting lower DOM’s (days on the market), higher prices and increased number of sales for March 2013.  These stats are reflective of the increasing amount of home buyers deciding that now is the time to act.  Interest rates are not going to be at these historic lows forever. This may be your time to buy too!

For more info, check out the link below:

http://www.bizjournals.com/sanantonio/blog/2013/04/san-antonio-housing-market-posts-gains.html?ana=e_du_pub&s=article_du&ed=2013-04-15&u=iYIfXxIBb8DpVjcKqU5SZg022ed2bc