Real Estate Information Archive

2304 Midwestern Parkway - Wichita Falls, TX 76308

Suite 103 A - 578 Square Feet - $705.16/month

Centrally located in Wichita Falls near MSU. This site offers great visibilty and nice/clean environment.

Please call me @ 940.224.0881 to set up an appt to preview.

If you're looking for Wichita Falls office space, email me at ashton@bishoprealtors.com with your criteria.

Many of you have been asking about the $8000 tax credit for first time home buyers. Listen to my Pod Cast this month @ www.talkrealty.com/ashtongustafson . This will give you a better understanding for what the tax credit does and who qualifies.

The Wichita Falls Real Estate market continues to be fantastic, and one to be envied. If you are considering buying and or selling please see both of my sites:

www.TexomaListings.com - Just for Buyers

www.TexomaHomeValue.com - Just for Sellers

If you have any other questions, or want to discuss the market and your real estate future, please call me at 940.224.0881

I would to thank Joe Tom white for having me on his show again this morning...always a great time. See link below to listen to this morning's show.

http://riseandshine.texomacountry.com/2009/03/02/monday-march-2-2009.aspx

www.TexomaListings.com - Buyers

www.TexomaHomeValue.com - Sellers

The Texas Higher Education Coordinating Board approved a new program for Midwestern State University in the field of nursing.  A Psychiatric Mental Health Nurse Practitioner Program will begin fall 2009.  Students in the program will earn a Master of Science in Nursing with a major in Family Psychiatric Mental Health Nursing.  The degree will be offered online -the only one of its kind in Texas.  The clinical part of the program will be offered in sites close to where the students live, including rural areas that typically have not been reached.  For program information please contact Dr. Karen Palvado at (940) 397-3254 or at karen.palvado@mwsu.edu.

TIMES RECORD NEWS
Local market ranks in nation's top
By Lee Anderson
Wednesday, February 25, 2009

There's no doubt that local housing experts hit the nail on the head month after month last year when they insisted the marketplace in Wichita Falls is stable and a prime place to live.

The National Association of Home Builders and Wells Fargo Housing recently released data showing that five Texas markets - including Wichita Falls - were among the 10 most affordable housing markets in the South during the last quarter of 2008.

The housing opportunity index reported that Wichita Falls ranked fifth at 82.6 percent of new and existing homes sold during the quarter to middle-income earners.

Sherman-Denison hit the 87 percent mark, ranking the city third in the region. San Angelo was seventh at 79.8 percent, Fort Worth-Arlington was eighth at 79 percent, and Beaumont-Port Arthur rounded out the top nine at 77.5 percent.
Nationally, 62.4 percent of all new and existing homes were affordable to families earning the national median income ($61,500), which was an increase from the previous quarter, which was 56.1 percent, and 46.6 percent in the last quarter of 2007.

After examining information from the Real Estate Center Online News (RECON), broker Danny Steed remarked, "The housing affordability index recently published by the National Association of Home Builders just confirms what we have been saying about Wichita Falls area real estate for quite some time. Our local market is holding up very well in comparison to housing markets across the country, especially California, Florida, Arizona and Nevada. Although our home prices have continued to increase moderately, our market remains very stable and balanced."
Ditto from realtor John Wilson.

"I see this as continued evidence that Wichita Falls has always been an affordable community in which to live. New home prices are reasonable compared to other parts of the state and nation. We continue to see a gradual increase in property values as opposed to the unrealistic and dangerous rise and fall of values in other parts of the country," he pointed out. "We experienced the sudden rise in property prices after April 10, 1979 (tornado), and many people suffered for years after that.

"Our present trend of slow but steady growth has allowed us to escape the horrors of California, Florida and Nevada."

Garnel Construction owner Jose Garcia, who moved to building more homes in the $100,000 range about three years ago, agreed.

"I am not surprised," Garcia, said, referring to the city's ranking. "I know we are not overpriced, and neither is the state as a whole.

"I saw it coming about three years ago. There were a lot of people that needed a home but couldn't afford $200,000 and $300,000 homes, but could afford $100,000."

A story on the National Association of Home Builders Web site quoted NAHB chairman as saying, "Falling home prices and very favorable mortgage rates both contributed to the housing affordability gains we saw in the fourth quarter of 2008."

The Wichita Falls Association of Realtors Multiple Listing Service reported that in December, 13 homes were sold in the $100,000 to $120,000 bracket, followed by 10 each in the $70,000 to $80,000 and $120,000 to $140,000 range. Seven sold in the $160,000 to $180,000 category. The average sales price in December was $102,484. The numbers were similar last month, and the average sales price was $104,502.

All three local housing experts stressed that now is an extremely good time to buy a home or other real estate.  "I believe investing in a home or other real estate venture in Wichita Falls or North Texas is still a great move; and with interest rates at an all-time low, the timing could not be better," Wilson said.  Steed echoed the comments.

He said, "With mortgage interest rates declining to their lowest levels in decades, and with prices holding the line, homeownership is within the reach of more and more people. Although the national media will lead you to believe that loans are hard to get, local mortgage lenders are making extremely affordable loans every day, and still with relatively small outlays of cash.
"None of us know what the near-term financial condition of our economy truly is or will be for many months to come. But, for folks who are wanting to and can afford to make a home purchase for the long-term, this could be the best opportunity we've seen in a long time."

© 2009 The E.W. Scripps Co.

Numerous people have been calling and emailing with questions and concerns about the local Real Estate economy of Wichita Falls. Fortunatley, we find ourselves in a very protected part of the country that is not dealing with what the other parts of America are dealing with.

Our January numbers were essentially identical to a year ago, and we are seeing numerous buyers and sellers have success in their transactions. Interest rates continue to stay at historical lows, and the inventory of homes is as good as its ever been.

If you are considering a home purchase in the Wichita Falls area, please see www.TexomaListings.com . This site has become the best site for Wichita Falls buyers and you will see why. It emails you every home within your criteria, and then every morning emails you the last 24 hours of activity within your price range.

If you are considering selling a home in the Wichita Falls area, please see www.TexomaHomeValue.com . You will receive a CMA within 48 hours of submitting your information.

If you have any other questions, please call me at 940.224.0881.

What is the Texaplex?
David Winans coined the term “Texaplex” to describe the triangular region of Texas that contains 75% of the state’s population. Watch the video and see why everyone is talking about the Texaplex.

The Texaplex Project
The global financial crisis is a vicious cycle. The more we hear and talk about it, the worse it gets. However, in spite of all the national bad news, Texas is prospering! Texas, and in particular the Texaplex, has some pretty impressive facts that most Texans weren’t even aware of. This video is part of the Texaplex project which has set out to change that.

Did you know that the Texas Real Estate market is one of the strongest in the nation? Did you know that half of all new jobs created in the US were in Texas?

See this link for an incredible video on the Texas economy. http://www.texaplex.com/

February 23-24 will be the Arts Alive Home and Garden Festival in Wichita Falls. It will be held at the Kemp Center for the Arts. For more information contact Carol Sales at 940.767.2787.

Thinking of Buying a home in Wichita Falls? www.TexomaListings.com

Thinking of Selling a home in Wichita Falls? www.TexomaHomeValue.com

Many people have asked about this possible amendment. See link here fore more details. http://isakson.senate.gov/Amdt_106.pdf

If you are considering purchasing a home in the Wichita Falls area, please see www.TexomaListings.com for a list of every home within your criteria.

If you are considering SELLING, please see www.TexomaHomeValue.com for a free CMA for your home.

Here is an update on the bill that just passed the Senate ....

1.     Provide a direct tax credit to any homebuyer who purchases any home
2.     Amount of the tax credit would be $15,000 or 10 percent of the purchase price, whichever is less
3.     Purchases must be made within one year of the legislation’s enactment
4.     The tax credit would not have to be repaid
5.     The amendment would allow taxpayers to claim the credit on their 2008 income tax return
6.     This only applies to purchases of a principal residence
7.      Recapturing the credit if the home is sold within two years of purchase
8.      Would sunset the current $7,500 housing tax credit on the date of enactment.

This has passed the Senate, but the entire bill still needs to go back to the House and ultimately be signed by the President. Thus, there could be many changes before this happens or this could possibly not pass at all.   Nonetheless, it is encouraging for us in the Real Estate industry and for those who are in the market to buy or sell a home today.

Please call or email me with any questions.