This month's edition covers Greater Wichita Falls real estate market activity and then we'll promote responsible upgrades and the tax credits available for home owners who invest in energy-efficient systems and improvements.

Features special guest Terri Murphy of US Learning.

http://www.talkrealty.com/ashtongustafson

Good Monday morning to you!

Its hard to believe we are already 1/3 of the way through 2010. I mentioned last week that our inventory of great homes is a good as its ever been. www.TheFallsHomeFinder.com . If anyone you may know is in the market place, please forward them this email.

Market Statistics: Average Days on Market for SOLDS

$350,000 and up........408 days

$250,000 - $350,000........92 days

$200,000 - $250,000........81 days

$150,000 - $200,000..........117 days

$100,000 - $150,000..........72 days

These are very interesting figures. The Sheppard Air Force Base market has been very active from $225,000 - $275,000, and numerous first time home buyers took advantage of the credit from $100,000 - $150,000...therefore, we can see why these two parameters shared the lowest days on market. For more information on this, please let me know.

Hope all is well, and make it a great week.

"Wisdom is supreme; therefore make a full effort to get wisdom. Esteem her and she will exalt you; embrace her and she will honor you." Proverbs 4:7-8

Good Monday morning to you!

We're now into the final days of the 1st Time Home Buyer and repeat buyer Federal Tax Credit. 1st Time Buyers qualify for up to and $8000.00 and repeat buyers can qualify for up to $6500.00 Tax Credit. For more information on this, please call us @ 940.691.7355

Remember our sites:
www.TheFallsHomeFinder.com - For Buyers
www.TexomaHomeValue.com - Looking to sell?
www.TalkRealty.com/AshtonGustafson - Market update

I have never seen a better inventory of GREAT properties on the market. www.TexomaHomeSource.com

Make it a great week!

"Success demands singleness of purpose. " Vince Lombardi

IEBC CODE REVITALIZATION/PRESERVATION WORKSHOP TO BE PRESENTED:
 
-REMINDER-
 
 
Area residents with interest in adaptive reuse of current inventory of buildings and commercial properties are invited to a Revitalization/Preservation workshop on Friday, February 26 at the Wichita Theatre, 925 Indiana.  (9:00am-1:00pm) Sponsored by Downtown Wichita Falls Development and the Small Business Development Center, presenters will be Kate Singleton and Tony Eeds, principals of CRS (Community Revitalization Strategies) Group of Dallas Texas. 
 
This workshop will be of special interest to architects, real estate professionals, investors, developers, City/County government officials and property owners.  Potential investors in historic buildings are urged to attend. 
 
Ms. Singleton consults in economic and business development, financial incentives, community development, municipal planning and planning and zoning.  She has thorough knowledge of development finance tools to provide funding for projects including various HUD programs, CRA, TIFs, PIDs, tax abatements, low-income tax credits and Federal Investment Tax credit for historic buildings. 
 
She has consulted on over $150 million in Federal Investment Tax Credit projects, including the award-winning Southside on Lamar/Sears Project in Dallas.  Ms. Singleton served as Chair of the Building Code Committee for the City of Dallas.  In this capacity, she co-authored the historic preservation amendments to the building code.  The amendments were passed unanimously by the Dallas City Council. 
 
Mr. Eeds has 30 years of experience in architecture, construction and development specializing in downtown revitalization, downtown economic development, historic preservation, adaptive reuse, and community consensus building. 
 
As an architect, Mr. Eeds has completed restoration and adaptive reuse of National Historic Register properties ranging in size from exhibit facilities at Fair Park in Dallas, Texas to a 17 story high rise hotel in Abilene, Texas.  He has offered professional consulting services in the areas of program and project development, coordination and management of construction activities, economic development, financial incentives, strategic planning, community development, historic preservation, as well as project design and implementation.
 
Some of their projects include:  Downtown and Economic Development Consulting for Alice, Beaumont, Dallas, Denton, Fort Worth, Odessa, and Plano, Texas; Haviland and Concordia in Kansas; Historic preservation for Southside on Lamar in Dallas, Sanger Building in Fort Worth, Windsor and Wooten Hotels Abilene, Hotel Beaumont, and Federal Tax Credit Projects.  They also wrote the ordinance and design guidelines for Weatherford, Dallas and Bryan Texas. 
 
Cost for the workshop is $35 with a discount for current DWFD members.  For more information or to make reservations, requested by Tuesday, February 23, please call Kelly Atkins, executive assistant, Downtown Wichita Falls Development, 322-4525.
 
 
 
 
Cynthia Laney, Executive Director      
DWFD, Inc
719 Scott Street, Ste 418
Wichita Falls, TX 76301
940-322-4525
940-733-4382

Good Monday morning to you!

Hopefully some Spring sunshine is in our very near future - I hear more snow is one the way tomorrow...what a Winter its been!

As we approach this Spring and Summer, our best sales seasons, you may be thinking of moving or know someone that is too.
We have created www.TexomaHomeValue.com for those of you that are looking to sell and wondering what the market around you has done in the last few months. Simply enter your home's information and your contact information, and we'll have a market analysis to you within 24 hours.

January 2010 for us was up over 2009 and we already have 16 new pending for February. Its looking like this will be another GREAT year for the Bishop/Gustafson Team.

This week's Myth Buster:

Myth: "If I price my house high in the beginning, that will give me more negotiating room and the buyer will feel like they're getting a deal."
Fact: This simply is not true - you cannot fool buyers in this market.
The only home that sold over $300,000 in Wichita Falls for the month of January was originally on the market at $875,000 - and it sold for $425,000 908 days later. Pricing high caused this home to be on the market almost 3 years! Had they priced aggressively in the beginning, they probably would have netted more money, and saved almost 3 years in taxes, utility bills, and lawn care.

Please call me this week if I can serve you or anyone you may know.

Wisdom is knowing what to do next; virtue is doing it. David Jordan

Ashton

Owner - Bishop Realtor Group                                                             

Click here to listen to Ashton Gustafson and Denny Bishop on the Rise and Shine Show with Joe Tom White.

www.riseandshine.texomacountry.com/2010/01/22/friday-january-22-2010.aspx    

NORTEX HFC 1ST TIME HOME BUYERS LOAN PROGRAM

Wichita Falls, TX - Real Estate Info You Should Know

Effective January 4th American National Bank will begin accepting loan applications for the above new 1st Time Home Buyers Loan Program.  The rate will be 4.75% with no down payment assistance (DPA) and 5.25% with 3% DPA.  The loan will have a 1% origination fee with standard closing costs.  The program is available under FHA, VA , or RHS (USDA Rural Housing) loans with standard qualifications. Veterans do not have to be first time home buyers to qualify for the program.  Loans may not close until January 18th, 2010 and the origination period is until December 24, 2010.

American National is very proud to be the lead lender in this program with $10MM dollars in funds available and is very happy that they were able to be instrumental in providing assistance to the HFC to insure that there was up to $450,000 in Down Payment Assistance for the program.  We will be providing additional information as it becomes available but please give any of us a call with questions or for application for you under this important program for our community.

1304 Harvey - Wichita Falls, TX For Lease

3 Beds - 1 Bath - 1 Garage - recently refurbished hardwood floors - backyard has covered RV parking and a workshop with power and garage bay.

$685/month - or 2 year lease at $650/month

Call 691.7355 for an appt to preview.

Good Monday morning to you!

I just returned from a conference with 200 of the top agents in the country. Its always good to be around the best of the best, and I hope to put to use the knowledge learned for my current and future clients.

One thing to keep in mind at this time is investing in an income producing piece of Real Estate. I feel its the perfect storm - low rates and a good amount of inventory. When these rates swing upward (and they will), the lease market is going to be on of the best we've ever seen. Let me know if you would like to discuss some possibilities for yourself in this matter.

Also, I've launched a new site. Know someone that is having a hard time with their mortgage? They may qualify for a "short sale". A short sale is when the lender will accept less than what is owed on the mortgage. If someone you know would like to explore the possibility of a short sale for their property, avoid foreclosure, and potentially save their credit rating, please forward the link below.  http://www.texomaforeclosure.com/ 

If I can serve you or anyone you may know this week, please let me know.

The greatest discovery of my generation is that man can alter his life simply by altering his attitude of mind.James Truslow Adams

See video below for an update on the Wichita Falls MLS Statistics for October 2009.

83% of the market sold was under $180,000 in the month of October for the Greater Wichita Falls area. There was a total of 118 sales, 67 of which were between $70,000 and $180,000. We can see that the 1st Time Home Buyer market is staying fairly strong and will probably continue to do so into 2010.

Upper end homes continue to be sluggish, offering great opportunities for buyers.

Interest rates also hit the lowest we've seen in a long time - 4.25% fixed for 15 years with a FICO score of over 740. These rates will not stay here long-term.

For more information or to have questions answered, email Ashton @ ashton@bishoprealtors.com.