Real Estate Information Archive

Good morning and happy Cyber Monday!

The Market

You know there is a great parallel between Black Friday and the Real Estate market. Actually, the parallel goes with any market where goods are bought and sold...not just Real Estate. To read my latest blog entry on this, see http://www.texomahomesource.com/Blog/Black-Friday-and-the-Real-Estate-Market.

The Opportunity

Nearly 2 years ago, I launched my first buyers only site @ www.TheFallsHomeFinder.com. Within weeks this site became our areas #1 resource for information on the available properties within the Greater Wichita Falls Area. The beauty of this site is that buyer can select how it would like to be updated on the market and create a favorites list of the homes you want to see. House hunting has never been this easy. With interest rates this low, this site can unlock great opportunity.

The Prairie Open House

Remember this is the first of two weekends that The Prairie will be available for viewing. Come and see our area's first Sustainable/Green project. For information on the available lots, see www.ThePrairieWF.com.

Make it a great week!

"As life is action and passion, it is required of a man that he should share the passion and action of his time, at the peril of being not to have lived."                  Oliver Wendell Holmes

Black Friday and the Real Estate Market

You know there is a great parallel between Black Friday and the Real Estate market. Actually, the parallel goes with any market...not just Real Estate.

We often laugh at (or with) our friends that line up outside of Best Buy over 12 hours before the doors open in the cold just so they can get that TV they have lusted after all Thanksgiving Day in the glossy newspaper ads. But why all the hype? Why all the madness?

Answer? Price.

A couple of weeks ago Wall Street announced that numerous retail stores reported earnings less than what was expected for the last quarter. Did that effect the consumer this morning? No. Did the consumer still stand in sub freezing temperatures just to be first at the door? Yes. Did they care what Wall Street said about earnings? No. The consumer saw that they could save over $1000.00 on a TV if they bought today...its all about price. Black Friday is simply another way to say, "buy today or regret tomorrow."

So here is the parallel. You may have heard that the market is bad or that buyers are no longer buying. That is a false statement. When we look at what is selling in the markets, the properties that are selling have been on the market less than 60 days. For the Real Estate market, that is NOT a long time.

So why are the days on market so short for what is selling? Because the consumer knows value when they see it. The buyers are online and in the papers everyday looking for the home that can be bought for $200,000 today, but would cost $210,000 to build. Furthermore, when the consumer sees value, they act on it and purchase. Buyers are everywhere, but we have convinced ourselves they are not there because some of the listings in the market are stagnant (fancy word for overpriced).

Now class, let's conclude our discussion. Is your price compelling? Would you sleep outside of your home in the cold to buy it at the price you're listed at? If not, you may want to take a lesson from Mr. Black Friday.

Happy Black Friday and Merry Christmas.

Written by: Ashton Gustafson - Owner - Bishop Realtor Group

Ashton Gustafson is one of top producing Real Estate agents in North Texas. He was selected by Realtor Magazine in 2010 as on the top 30 agents in the U.S. under the age of 30. Currently, he is an owner at the Bishop Realtor Group in Wichita Falls, Texas with his grandparents, Ann and Denny Bishop.

For more information on Ashton go to:

www.SeeWhatTheyAreSaying.com

www.AshtonGustafson.com

www.TheFallsHomeFinder.com - Looking to buy?

www.TexomaHomeValue.com - What's my home worth?

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!

If you've read anything about the Real Estate market over the past 3 years, the main buzz was the 1st Time Home Buyer and Repeat Buyer Federal Tax Credits. This $8000 tax credit sent a wave of buyers into all markets...and, rightfully so.

However, in less than 6 months, interest rates have fallen on a 30 year fix from 5.25% to 4.25%. At a loan amount of $200,000, this is over $43,000 in savings over the life of that loan. The last time I checked, $43,000 was greater than $8,000...what a difference a year makes. The chart below puts this into great perspective.

To keep an eye on all of the opportunities that are hitting the market each day, remember to log in @ www.TheFallsHomeFinder.com. This has quickly become the best site for the buyer/investor in North Texas.

If you're thinking about taking advantage of these rates and moving up, see www.TexomaHomeValue.com for a free market analysis of your property.

If I can answer any other questions or serve someone you may know, please let me know.

Make it a great week and GO RANGERS!

"He who says he can, and he who says he can't both are usually correct." Confucius

Good Monday morning.

Well, the Cowboys won...so we should all be on our way to a great week! If Romo and the Boys kept you from getting out yesterday to see an open house, go to www.TheFallsHomeFinder.com. Here you can find every home within your criteria, see virtual tours, view Google Earth images, and create a favorites list.

One of our Values is Rapid Response. The Real Estate business, like every industry, is now changing daily. You want your answers and information faster than ever. With our Internet creations, nearly every question you have has an answer that can be found in mere seconds. The markets will continue to change and we will continue to rapidly respond.

Wondering what's out there? www.TheFallsHomeFinder.com.

What is my home worth? www.TexomaHomeValue.com

Having mortgage problems? www.WichitaFallsShortSale.com

Are there any repos? www.TexasBankOwned.com

Should I buy now? www.ImAHappyBuyer.com

Who is this Ashton guy? www.SeeWhatTheyAreSaying.com

Are you hungry??????? www.DinnerIsOnAshton.com

You were born to win...make it a great week. If I can serve you in any way, please let me know.

"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.

Ashton,

Good Monday morning to you!

Local Market News

Local lenders this last week locked in my clients with 15 year rates @ 3.75% - no points paid. That is unbelievable - remember, www.ImAHappyBuyer.com to see just how GREAT these rates are.
The Prairie

If you have not taken the short drive out to The Prairie Development, please do. 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. See www.ThePrairieWF.com for more information.

Ashton's View

“The best time to plant a tree was 20 years ago. The second best time is now.” – Chinese Proverb.

So true. I find this Proverb very insightful, in regards to Real Estate and Real Estate Investment. Think about it...we have never seen interest rates like we have right now (affordability). Furthermore, there has never been more inventory available for sale (opportunity). You may not be looking to invest today, but I encourage everyone to start thinking about it. One of my goals is to have as many people I know increase their wealth, and understand the beauty of owning income producing properties. How predictable, stable, and profitable do you want your future to be income stream? If you're interested, let's talk about planting a tree soon.

Don't forget www.TheFallsHomeFinder.com.

Make it a great week!

Ashton Gustafson, e-Pro, CDPE
Owner - Bishop Realtor Group
Realtor Magazine Selected- 30 under 30