Real Estate Information Archive

Good Monday morning to you!

Market Snapshot

There are currently 62 residential properties IN-CONTRACT at this time in the Wichita Falls MLS. Only 4 (6%) are listed over $300,000. While many people thought the First Time Home Buyer Tax Credit expiration would pull young buyers out of the market, the low interest rates have kept them hanging around...and rightfully so. If one is currently spending $800/month in rent, they can easily afford a mortgage at or near $100,000. Maybe that's why 84% of the current IN-CONTRACTS are under $200,000.

The market as a whole this year has roughly been flat. And judging by what the media reports on other markets and the nation as a whole, we are very fortunate. As the tortoise taught us, "slow and steady (growth) wins every time." For more information on what is available @ this time, see www.TheFallsHomeFinder.com.

Looking To Invest?

Have you ever thought about investing in Real Estate? Many people believe this is a very difficult and risky way to invest one's money. In reality, it may be one of the safest avenues available. As a Certified Investor Agent Specialist, I would be glad to meet with you and discuss your options and opportunities that are available. With interest rates at historical lows, now is the perfect time to enter the market. See www.ImAHappyBuyer.com.

Come View The Prairie

You may have heard about a new project in Archer County called The Prairie that I have been honored to be associated with. The Prairie is a residential green development located  just 10 minutes from Wichita Falls, Texas off of FM 1954 on Decker Road. It consists of 200+ acres with 28 available home sites made up of five to seven acres each.

December 4-5 and 11-12, we will be holding an open house to come and view The Prairie as well as the first finished home in the development. See http://www.connollyhousetexas.com/ for details, directions, and information.

Quote of the Week

"It's a funny thing about life; if you refuse to accept anything but the best, you very often get it." W. Somerset Maugham

Ashton Gustafson, owner of the Bishop Realtor Group, is proud to bring you the November Real Estate Report for Wichita Falls and North Texas.

This month's edition covers Greater Wichita Falls real estate market activity and then we'll detail the “Top Four Selling Tips” for getting your home sold in a competitive market!

See link below for information.

http://www.talkrealty.com/ashtongustafson - Pod Cast

Local Agent Receives Training to Effectively Counsel Real Estate Investors, Provide Wealth-Building Strategies
 
Austin, TX– (10-30-10) – Ashton Gustafson of the Bishop Realtor group in Wichita Falls has earned the prestigious Certified Investor Agent Specialist™ (CIAS) Designation, having completed extensive training to understand the different real estate investor types, and the investment opportunities, financing options and calculations needed to provide solutions for each.
 
The five real estate investor types include: First-Time Investors, Move-Up Investors, Portfolio Investors, Performance Investors, and Rehab and Resell Investors. “For decades, investing in real estate has proven to be a consistent and stable way for individuals to build wealth,” Gustafson said. “Real estate investment supports a number of industries, including construction, retail and professional services, and is a strong way to energize and increase investment in our local economy.”
 
Over the past 12 months, investment and second-home properties comprised more than $300 billion in sales, representing approximately 19 percent of all residential real estate transactions. In addition, in market conditions affected by mortgage industry challenges, 48 percent of investors made all-cash purchases.
 
“As markets face the challenges of distressed properties and a difficult economy, real estate investors have the opportunity to find productive deals while helping communities stabilize,” Gustafson said. “Investors provide much needed liquidity to the market, decrease vacancy rates, improve neighborhoods, and present solutions for homeowners who need to sell.”
 
With the CIAS Designation training, Gustafson will help Wichita Falls-area residents build wealth through real estate investment, and homeowners facing foreclosure find potential buyers for their properties. Today, millions of homeowners are either delinquent on their mortgages or in the foreclosure process. One potential solution for homeowners in this situation is a short sale, in which the lien holder accepts a sale price of the home that is less than the mortgage amount owed. Increasingly, real estate investors are facilitating this solution.
 
“When it comes to properties that actually end up in foreclosure,” Gustafson added, “up to 30 percent of them can’t close conventionally. Investors are often the only ones who can buy them.” The Distressed Property Institute provides live and online CIAS Courses to train real estate professionals how to address the needs of all real estate investors.
 
For more information about the CIAS Designation, visit www.cias.com.

Good Monday morning to you!

News in The Falls!

You may have heard that Wichita Falls was selected as one of the top 10 most affordable places to live in the U.S. The city was ranked No. 6 by the C2ER-Council for Community and Research in its third quarter ACCRA cost of living index. For more information see, http://www.timesrecordnews.com/news/2010/oct/28/wf-named-top-10-least-expensive-places-live-us/

Ashton Becomes North Texas' 1st CIAS

Also, I had the privilege this week to attend a class to to receive my CIAS certification. As a Certified Investor Agent Specialist™ (CIAS), I am specifically trained to find, create and close with residential real estate investors. Through comprehensive education and experience, I  have gained the knowledge and tools to streamline the process of real estate investment and help increase returns for investor clients.

Where can I Help Real Estate Investors Navigate?

• Investment Strategies
• Self-directed IRAs
• 1031 Exchange
• Leverage Options
• Key Calculations
• Return-on-Investment
• Capitalization Rate
• Average Returns
• Cash Flow
• And much more!

I am developing a new site at this time for local investors, but remember www.TheFallsHomeFinder.com to preview what is available in the market at this time.

Best of luck this week, and cheer on the Rangers!

“Some men see things as they are and say, ‘Why?’ I dream things that never were and say, ‘Why not?’ George Bernard Shaw

Good Monday morning to you!

How bout those Rangers!!! Hopefully we can see them come back our way soon from New York and be ahead in the series.

Time to Buy

One of our VALUES is Rapid Response. Unfortunately, I'm not seeing enough people respond rapidly to the opportunity that this market has brought us. With interest rates at historic lows and inventory at an all time high, there is great opportunity.

Everyone is also looking for diversification too...right? Americans have traditionally chosen the stock market for additional income and retirement funds; however, real estate—especially today—can provide cash flow, more stability and better tax incentives than investing in stocks. In fact, when properly managed, leveraged equity in real estate can far outpace stock appreciation over time.

Below you will see that over the past 10 years, the S&P 500 has lost value, while the average home price has appreciated, even when taking into account the recent national housing crisis.

Graph Source: www.CIAS.com

New Listings

For more information, see http://www.texomahomesource.com/Properties.

Useful Websites

www.TheFallsHomeFinder.com - Every home available for sale in MLS.

www.TexomaHomeSource.com - Wondering what your home is worth?

www.ImAHappyBuyer.com - What's up with interest rates?

Best of luck in the week ahead, and please let me know if I can serve you or anyone you know this week.

In times of change learners inherit the earth; while the learned find themselves beautifully equipped to deal with a world that no longer exists. Eric Hoffer

Good Monday morning to you!

I believe in Real Estate. I believe that it is the fastest way to build wealth and financial stability with the least amount of risk. Naturally, I am a bit biased, but no one has to be a genius to understand the principles of buying, selling, owning, renting, and speculating with Real Estate. At some point, every tenant needs a new place to sleep, work, or recreate - and you the INVESTOR get to play the role as provider for that need. It is really that simple.

In watching the market for some time now, I've seen 5 factors that effect the market: Iventory, Interest Rates, Mortgage Availability, Consumer Confidence, and Unemployment.

Here's a reality check for us all....

Inventory) - We're at an all time high. This means choice.

Interest Rates - We're at an all time low. This means affordability.

Mortgage Availability) - At least 90% of the people that I send to lenders get qualified. If you want a loan, chances are I can get you one.

Consumer Confidence) - We just had the most sales for August in our company history. The consumer is quite confident.

Unemployment) - The entire country wishes things were different, but we've seen "blue skies" here in North Texas.

No matter if its a $20,000 home or a multi-million dollar project, they all count. I would love to help you build wealth for yourself and future generations. Register @ www.TheFallsHomeFinder.com to keep your thumb on the market.

"The truly great tragedy is the destruction of our human resources by our failure to fully utilize our abilities, which means that most men and women go to their graves with their music still in them.” Oliver Wendell Holmes

Make it a great week.

5003 Silvercrest  - Wichita Falls, TX

Open from 1:15 - 3:15 - Sunday September 12, 2010

For sale or lease -  $259,900 or $1975/month.

This Wachsman home is just like new and has it all! Great storage space, 4 beds, 2 baths, 3 car garage, and a wonderful master suite with luxurious bath and closet area. Home faces west, so you have great evening shade for grilling on covered patio. The chef of the family will enjoy the kitchen that has beautiful granite, stainless appliances, and bar area.

Good Monday morning to you!

As Ranch Round Up moves on to another year, we now welcome the Hotter'n Hell 100 this weekend. If you or someone you know is looking to register, see http://www.hh100.org/.   The Hotter 'N Hell 100 is one of the oldest and largest cycling events in the nation. Fitness oriented riders and bicycle racers will come to Wichita Falls, Texas, from virtually every state and several foreign countries. 

August? Slow? No.

At the Bishop Realtor Group, we seek to break the mold. This month alone, we have sold a property every day. With school starting, vacations ending, and the HEAT, August tends to be one of the slower months. The hard works of our team has not allowed this to be the case, and we look to get over 30 properties in contract this month. If you have interest in selling, click www.TexomaHomeValue.com.

365 Wichita Falls

I have decided to put together a list, one a day for the next year, to give myself and others ideas to get out and see the city as they have not seen it before. We will take 365 Days of things to do, places to see, eating establishments, and events to go to in Wichita Falls. Enjoy and feel free to contact me with any comments or suggestions. Subscribe @ www.365WichitaFalls.com.

And don't forget the AG Referral Program. To see what you and your friends can received for referring your friends and family, see www.DinnerIsOnAshton.com.

Best of luck this week!

"Adopt the pace of nature: her secret is patience." Ralph Waldo Emerson

NEWS RELEASE
Contact Barry Levy
City of Wichita Falls Public Information Officer
August 10, 2010

New City Rating May Lower Insurance Premiums

 The Wichita Falls Fire Department and City Leaders are pleased to announce that the City's Public Protection Classification (PPC) has been upgraded from a "3" to a "2" by the insurance Services Office (ISO). This rating is used to help establish appropriate fire insurance premiums for residential and commercial properties and will become effective December 1, 2010. Public Protection Classifications are assigned on a scale of 1 to 10, with 1 representing superior property fire protection, according to the Insurance Service Office.
 
 " This new rating is the direct result of 15 years of extensive planning and improvements by the Fire Department, Public Works Department, and City leaders," said Wichita Falls Fire Chief Earl Foster. In 1995, the City received a PPC of "3", and since then City and Fire Department have been working toward improving that PPC rating. Fire stations were relocated, personnel were added, new equipment and apparatus were purchased, a new Dispatch Center and fire department training facilities were constructed, and the water distribution system was substantially improved," said Foster.

 The ISO conducted a survey of the City and Fire Department in November of 2009.  The survey collected information about the City's fire protection efforts including fire alarm and communication systems, engine companies, ladder or service companies, distribution of fire stations and fire companies, equipment carried on apparatus, pumping capacity, reserve apparatus, department personnel, training and a review of the City's water supply system. The results of the survey were released to the City in May of this year and approved in July by the State Fire Marshal.
 
 "The PPC rating for Wichita Falls now ranks in the top 1.29% (618 out of 48,086) of all communities nationally," said Foster. "Wichita Falls now ranks in the top 5.11% (123 out of 2,405) of all communities state-wide.  Only 60 communities in the United States and only 13 communities in Texas have a "1" rating and rank above Wichita Falls," Foster continued.

 An improved PPC Rating may affect the cost of property insurance for businesses and residences, although, a number of factors go into determining insurance premiums. Communities having a good PPC rating generally have lower insurance premiums than communities having a poor PPC Rating. The ISO does not establish the rates for insurance premiums, individual insurance companies determine rates.  Citizens and businesses should contact their insurance company to determine how the improved PPC Rating will affect the cost of their insurance.

 The new PPC rating does not become effective until December 1st, 2010.  New property insurance policies and renewal of existing property insurance policies prior to December 1st will be based on the old PPC rating.  Policies, new or renewed, activated after December 1st will be based on the new PPC rating of two. For more information please contact Wichita Falls Fire Chief Earl Foster at 761-7901.

Its now time for another Hotter'n Hell 100! See http://www.hh100.org/ for more information.

Hotter 'N Hell Hundred and the cycling community of America can look forward to continued innovation in 2009, GPS mapping, and changes to Hell’s Gate. Riders and racers from all over the USA will celebrate the 29th annual Hotter 'N Hell Hundred on Aug. 29, 2009. Hotter 'N Hell Hundred will continue to excite record numbers of participants and add to their fitness experience. The Hotter 'N Hell Hundred is one of the oldest and largest cycling events in the nation. Fitness oriented riders and bicycle racers will come to Wichita Falls, Texas, from virtually every state and several foreign countries. They will set their calendars for the week of Aug. 27 - Aug. 30, 2008. The official ride start will be approximately 7:00 a.m. (official sun rise) on Saturday, Aug. 29, 2009. The Endurance ride is Saturday Aug. 29,2009 with USA Cycling racing on Friday and Saturday. The HHH will continue to offer an off-road mountain bike race on Friday August 28, 2009 and a trail run on Sunday August 30, 2009 as well. By the way, the HHH is always 9 days before Labor Day.

Several things happen during the Hotter 'N Hell weekend. The activities that comprise the HHH are: Registration, Consumer Show, Spaghetti Dinner, USA Cycling Criterium Race, USA Cycling Road Race, the Hotter 'N Hell Hundred Endurance Ride, an Off-Road bicycle race, off-road trail run along with entertainment food and fellowship at the Finish Line Village. In other words, HHH is not just one day, it is at least 4 days of challenging and inspiring activities.

Endurance cyclists will face wind and heat with the help of 4,000 event volunteers on routes up to 100 miles. The Hotter 'N Hell Hundred route is rolling with some long inclines accentuated by incessant wind. With the huge consumer products show, off-road mountain biking and USA Cycling Races over the weekend, the Hotter 'N Hell offers an awesome start and the greatest weekend on two wheels. If you are going to ride 100 miles, the best place to do it is at the Hotter 'N Hell Hundred!


People ask what you get when you register for the HHH. It is a grueling day in the sun so what does a rider get besides sore muscles, tired posterior, sense of accomplishment and several hours of pure cycling madness? There is no answer that fits all. Riders pit themselves against the road and elements for different reasons. What everyone does get is a ride T-shirt and water bottle, goodie bag, free stuff from the consumer show, his or her share of 15,000 gallons of hydration fluid, truck loads of fruit, pickles, thousands of helpers on the route and a hard-earned finisher pin.
Route distances are:
10K - 25 mile - 50 mile - 100K - 100 mile
Riders for the 100 miles need to be aware of Hell's Gate! Hell's gate is located at the 60.3 mile mark on the 100 mile route. Hell's Gate normally closes at 12:30 p.m. unless weather conditions force an early closure. Riders who reach Hell's Gate after closure are directed to a shorter route that finishes the day with 84 miles. This year, rest stops prior to Hell’s Gate will display closure status so riders can adjust their pace to reach Hell's Gate prior to closing. The process for closing Hell's Gate will be reviewed in the Ride Tabloid mailed during the spring of 2009.

10K: This short route is for those who don't ride much but want to experience the dynamics and human energy unleashed at the starting line.
Off Road: HHH weekend includes a 10-mile off-road route. The start is adjacent to the 100-mile start. The trail will be open all day but will be swept for survivors at 6 p.m. on Friday and 1 p.m. on Saturday. The trail is single track with quick short climbs and drops. The route is fun but riders are reminded that these nature trails are on natural surfaces surrounded by trees, water, wild animals, pointy objects and poison ivy. Off-roading requires skill and caution on the part of the rider.


EntryFee: HHH has worked hard to keep entry fees as low as possible. To help families, there is a family discount. Regular registration is $30. The family discount is applied to registrations from the same household after the first full fee is paid. The maximum is 5 discounts per household. The family rate is $25. The family discount is available during early registration which expires July 31, 2009. All family discount registrations need to be received at one time and paid all together. Riders can register on line, by mail, fax, or in person. Late registration is $35.

Timing: Riders can request electronic timing. For an additional $5.00 ($7 at late registration) riders will use a state-of-the-art electronic timing chip and receive comparative speed and elapsed time information by age and gender. Riders that pre-register can contract for text messaging service as they cross the finish line.

Or join them on Facebook @ http://www.facebook.com/HH100