Real Estate Information

Good Monday morning to you!

We saw rates tick up a little bit this week, but the market definitely had a great boost of activity. With the current PCS to Sheppard Air Force Base and the news of over 300 new jobs coming to our in the next 3 years, things are looking great. Also, this weekend brought 4 new pending contracts and even more offers still in negotiations. Contrary to what you may hear, we are busy here @ the Bishop Realtor Group.

I also found some great HUD Repo's this morning @ www.SouthwestAlliance.com . Please visit the site, and if you would like to view any of these properties, just let me know. You will see that most of them have bid deadlines, so be sure to be mindful of that.

We are just inches away, again, from saving another home owner from foreclosure this week too. If you know of someone that is behind on their payments, please send them to www.WichitaFallsShortSale.com to view some options. There are many popular opinions right now that claim foreclosure is a suitable option for those behind on their payments - this simply is not true. This site will discuss some other options as well to avoiding foreclosure.

And remember, www.TheFallsHomeFinder.com - this site continues to grow in popularity with 1000's of hits each week. Finding a home and creating a favorites list has never been easier. I invite you to return or create an account to see why over 1500 buyers have registered here.

Make it a great week, and please let me know if I can serve you or anyone you may know.

"Everyone who got where he is had to begin where he was." Richard L. Evans

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                                                             

Rates have trended up this week with reaction to the Fed’s announcement that the discount rate was increasing from .5% to .75%. This is the rate banks lend to each other.  The 10 year treasury is now above 3.8% and has taken mortgage rates to a slightly higher level.  Rates as of today are………
 
Conventional
30 year fixed                      5.125% 0+0         (740 FICO, $120,000 maximum loan amount)
15 year fixed                      4.500% 0+0         (740 FICO, $120,000 maximum loan amount)
 
FHA
30 year fixed                      5.250%  0+0         (660 FICO, $120,000 maximum loan amount)
15 year fixed                      4.500%  0+0         (660 FICO, $120,000 maximum loan amount)
 
Jeff McClatchy
VP, Mortgage Manager
Fidelity Bank
940-720-5425 direct
940-564-6650 cell
jmcclatchy@fidelitybankwf.com

It’s frustrating: homeowners facing tough

mortgage situations are finding it difficult to get

sound advice at a time when they need it most.

That’s why I’m providing an easy-to-understand

comparison of foreclosures and short sales, just

for you at: www.WichitaFallsShortSale.com

This free report will provide you with more

information abot your options in these

challenging times. As CDPE, I am trained

to help homeowners evaluate their

options and come up with a plan. I offer

solutions.

Visit my site and explore what’s

available. It’s time for a new

financial future.

I’m here to help.

Ashton Gustafson - Certified Distressed Property Expert

Bishop Realtor Group - Owner

Wichita Falls, Texas – February 10, 2010 – The annual St. Patrick’s Downtown Street Festival will be taking place Saturday, March 13th (600 block of 8th). Gates will open at 5:30pm and the event will last until 11pm.
 
This event has been taking place over a decade and is designed to bring awareness to historic downtown Wichita Falls and also serves as a small fundraiser for Downtown Wichita Falls Development. Highlights include live music from a variety of bands including native Irish music; a variety of food and specialty vendors; and lots of green to be seen!
 
Ireland ’s Call will be returning direct from Ireland to play a fusion of classic Irish tunes and rock. This year’s addition to the line-up is a band called the Killdare’s out of Dallas , TX . They are known for their brand of hard driving, alternative Celtic rock. The band uses unconventional pairings of screaming, fire-driven fiddle and bagpipes with the wail of electric guitar, bass and drums to create brilliant arrangements. The band’s incredible stage presence is nothing short of awesome.
 
Band line-up includes:
Outside Stage- Direct from Ireland , “ Ireland ’s Call” and special guest from Dallas , TX “the Killdares”.
Inside Stage- “Mike O’Neil & Daddy-O” plus “AA Bottom”
 
Families are welcome and highly encouraged to come. There will be activities for children. People are encouraged to buy tickets in advance to benefit from the discounted prices. Ticket Outlets: United Market Street , SAFB ITT Ticket Office, Iron Horse Pub and DWFD. Ticket Prices:   $9 advance w/ military or student ID, $10 advance for general public, $15.00 at the gate, 12 & under FREE (must be accompanied by an adult).
                              
DWFD is a project of North Texas Visions and is a 501(c)3 organization. DWFD has established a partnership between the public and private sectors that is dedicated to the revitalization and economic development of historic downtown Wichita Falls . DWFD believes a healthy vibrant downtown is the heart of the city. Please visit our web page: www.downtownproud.com,  the DWFD Facebook page or www.myspace.com/wichitafallsshamrockfest
 
719 Scott Street, Suite 418 * Wichita Falls , TX 76301 * 940-322-4525 * 940-322-4526 Fax

Good Monday morning to you!

Did you know that the Federal Tax Credit for 1st Time Home Buyers and Existing Home Owners is set to expire at the end of April? If you or someone you know has buying a home on their "to-do" list for 2010, now is the time. Interest rates are at historic lows and our local lenders have money to lend. See www.TheFallsHomeFinder.com for information or to make an appointment to view any home for sale in our area.

Great Buy of the Week - 5127 Rock Point - $79,500

This 3 bed 1.5 bath home in Meadowlake is the perfect home for the 1st Time Home Buyer, Newlywed, or small family. Recent paint and crown molding can be found on the inside. The backyard is also complete with a newly installed covered patio and a great shop with power. Call us today @ 940.691.7355 for an appointment to preview.

Word on the Street - Short Sales

Through my experience handling distressed properties at Bishop Realtor Group, I've found that homeowners today have more questions than answers about their circumstances. I have created the site, www.WichitaFallsShortSale.com to help everyone understand the possible solutions to foreclosure, as well as provide a detailed explanation of short sales, which may be the best course of action for some homeowners.

You will also notice that I'm offering a FREE Report to explain options to help one decide on a course of action. The idea of losing a home can be overwhelming, and I feel it is vital for everyone to have all the facts necessary to make an informed decision.

As an agent with the CDPE® Designation, I have a strong and unique appreciation of the factors affecting the market, and know that there are options available to you.

If you would like to know more about your options, please call me at (940) 224-0881. I am here to help … in any way I can.

Quote of the Week

To sensible men, every day is a day of reckoning.  ~John W. Gardner

Let's live great stories this week,

Ashton

Good Monday morning to you!!!!

Remember that if you or someone you know is looking to buy and get the first time Home Buyer's Tax Credit, they need to be in contract by the end of April and close by the end of June.

This also goes for the $6500 Tax Credit for current home owners. Some have asked about details on this issue. They are as follows:

Its been a great year thus far for the Bishop Team. If we can serve you or anyone you may know this week, please let us know.

www.TheFallsHomeFinder.com - For Buyers

www.TexomaHomeValue.com - Thinking of Selling?

www.TexasBankOwned.com - Investing?

www.WichitaFallsShortSale.com - Mortgage problems?

"Dreams pass into the reality of action. From the actions stems the dream again; and this interdependence produces the highest form of living." Anais Nin

Good Monday morning to you!

Interest rates took another dip this week back to around 5% for the 30 year fixed and 4.5% for the 15 year fixed. I cannot stress enough how significant these rates, and they really have only one way they can go from here...up! See the graph below for some historical perspective.

While 1% may not seem like much, with a $200,000 loan there is a difference in total payments of $45,360 when comparing rates from 5% to 6%.

Call me today if you would like to set up a time to speak with someone about your next Real Estate loan.

Remember our sites for fast answers:

www.TheFallsHomeFinder.com - Info on all homes in MLS.

www.TexasBankOwned.com - Weekly Foreclosure List

www.TexomaHomeValue.com - Thinking of Selling?

www.WichitaFallsShortSale.com - Behind on your mortgage payment?

www.TalkRealty.com/AshtonGustafson - Market Update Pod Cast

Make it a great week.

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

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