Real Estate Information

Folks,
 
It is almost that time of year again. Here is all the information on my favorite event of the year brought to you by Downtown Wichita Falls Development, Inc.  We promise this year to bring you the more diverse range of music any event has ever seen in North Texas !
 
The event this year will be even bigger that past years with new bands, more vendors and a wine bar along with the beer tent.   We are also flying in a new group from Ireland to make the event more genuine and authentic.  Please see the attached bio + picture on Irelands Call.  We also have some of their music if you would like to hear some of it. These four guys have came together especially just for this tour.  The Word is out in Ireland about the great Texas Hospitality, lets give the guys the welcome of a life time.
 
Entertainment:
 
Outside Stage
Del Castillo - check out www.myspace.com/delcastillo this is one of the best bands to ever hit the Wichita Falls market + to come out of Texas - their Live shows are just breath taking.
Ireland's Call - this band will be coming direct from Ireland for the first ever concert in the great State Of Texas.  They are brilliant and define Irish Music at its best.  There will be lots of more info. to come on them soon - They are available for phone interviews from Ireland that we can help set-up
Brazos Stone - one of the fastest growing acts in this market and they have lots of raw talent too - check out www.myspace.com/brazosstone
 
Inside Stage (inside Pub 21 + Up only)
Daddy O - these legendary Blues Rockers led by Mike O Neill are an amazing act.  This band is Wichita Falls home grown, but the legend of Mike O Neill is known all over the music industry.
Live Oak Decline - this modern rock band from Austin have their very own unique sound and they are a real crowd pleaser check out www.myspace.com/liveoakdeclinemusic
 
Advance discounted tickets will be on sale at the Iron Horse Pub for $12 or at the Downtown Development Office.  Tickets will also be available for our Military Friends at the ITT Office on base.  Kids from age 6 to 12 will be $6 and kids 5 and younger will be free. 
 
Other Important info:
Gates open at 4.30pm
Please bring Chairs
Music will be from 5pm till 10.30pm in the Street
Located at 600 Block of 8th Street
It will be a rain or shine event (the big tent will be brought in if rain is on the forecast)
This is a Fun Event with music and vendors that will entertain all ages.
 
For more information, please contact Downtown Wichita Falls Development at 940-322-4525 or email assistant@downtownproud.com
 
Thanking you !
 

Having good credit and a steady job just does not seem to be good enough in today’s credit world when it comes to getting your home loan approved.  You need to make an impression.  Below are some great tips I would like to share with you. 

Today’s lenders are a picky bunch when it comes to the loan approval.  Even well-qualified borrowers are expected to jump through some pretty high hoops to qualify for financing.

Have no fear. The tips below and suggestions can help you make the best possible impression on the lender of your choice.

Just as job hunters may wonder what top employers want to see on a resume, prospective borrowers may be curious about what lenders look for on a loan application.

The four C's  - The answer may be summed up with a mnemonic called "The four C's,"

•    Capacity, which refers to the adequacy of the borrower's income to cover the interest and principal due on the loan, plus property taxes and homeowners insurance.
•    Character, which refers to the borrower's track record of paying debts, as evidenced by his or her credit history and credit score.
•    Capital, which refers to the borrower's down payment (or equity) as a percentage of the current value of the home.
•    Collateral, which refers to the safety and soundness of the home and the value of the home as determined by an appraisal relative to the agreed-upon purchase price.

Today’s mortgage broker might use a quadrant with "income," "credit," "assets" and "property" in the four corners, but his point is the same as that of the four C's:  What lenders like to see is strength and stability in all four areas.

Maybe your credit score has some dings or you need a stated-income loan.  Borrowers who are qualified but whose down payment will be less than 20% of the purchase price of the home must withstand a second level of scrutiny. That's because mortgage insurers also have to approve such loans, and they have "completely different qualification ratios”. Borrowers in this situation should discuss their options with a loan officer who is familiar with lenders' and insurers' guidelines.

Have paperwork in order

Lenders rely not on the borrower's say-so but on a pile of paperwork to verify and document the borrower's financial position. At a minimum, most borrowers are required to submit the following:

•    One month of paycheck stubs.
•    Two years of W-2 forms.
•    Three months of bank account statements.

Additional paperwork also may be required:

•    If you're self-employed or earn more than 25% of your income from commissions or bonuses, you'll need to hand over two years of income tax returns.
•    If you're divorced, the lender will want a copy of your settlement to ascertain how much alimony or child support you're obligated to pay or are entitled to receive and the duration of those payments.
•    If you've filed for bankruptcy protection within the past seven years, you'll need to show your bankruptcy papers.
•    If you've deferred repayment of student loans, you should provide your deferral agreement as well.
"If (borrowers) have student loans that are going to be deferred for at least 12 months, that may help them qualify, so they would want to bring the account numbers for those loans.  Student loans are counted as debt, but deferral of repayment may strengthen the borrower's application.

As you all know, there is a huge spotlight right now on the Real Estate sector. The Senate's $15,000 homebuyer tax credit has been stripped from the final version. In it's place is an $8,000 tax credit for first-time homebuyers. Note that this credit does not need to be paid back, unlike the original $7,500 first-time homebuyer tax credit. To qualify, the purchase has to be made between January 1 and August 31, 2009 and you have to stay in your home for three years. No word yet as to whether or not this will be a refundable credit.
 
I will keep you updated as this movement continues. If you know anyone looking to purchase their first home or if you have not purchased a home in the last 3 years, this tax credit, along with historically low interest rates makes this a rare, if not perfect, time to purchase a home.
 
Please contact me if you have any questions or see www.TexomaListings.com for Buyers and www.TexomaHomeValue.com for Sellers.
 

Ashton Gustafson, e-Pro

940.224.0881 cell

ashton@bishoprealtors.com

As you all know, there is a huge spotlight right now on the Real Estate sector. The Senate's $15,000 homebuyer tax credit has been stripped from the final version. In it's place is an $8,000 tax credit for first-time homebuyers. Note that this credit does not need to be paid back, unlike the original $7,500 first-time homebuyer tax credit. To qualify, the purchase has to be made between January 1 and August 31, 2009 and you have to stay in your home for three years. No word yet as to whether or not this will be a refundable credit.
 
I will keep you updated as this movement continues. If you know anyone looking to purchase their first home or if you have not purchased a home in the last 3 years, this tax credit, along with historically low interest rates makes this a rare, if not perfect, time to purchase a home.
 
Please contact me if you have any questions or see www.TexomaListings.com for Buyers and www.TexomaHomeValue.com for Sellers.
 

Ashton Gustafson, e-Pro

940.224.0881 cell

ashton@bishoprealtors.com

As you all know, there is a huge spotlight right now on the Real Estate sector. The Senate's $15,000 homebuyer tax credit has been stripped from the final version. In it's place is an $8,000 tax credit for first-time homebuyers. Note that this credit does not need to be paid back, unlike the original $7,500 first-time homebuyer tax credit. To qualify, the purchase has to be made between January 1 and August 31, 2009 and you have to stay in your home for three years. No word yet as to whether or not this will be a refundable credit.
 
I will keep you updated as this movement continues. If you know anyone looking to purchase their first home or if you have not purchased a home in the last 3 years, this tax credit, along with historically low interest rates makes this a rare, if not perfect, time to purchase a home.
 
Please contact me if you have any questions or see www.TexomaListings.com for Buyers and www.TexomaHomeValue.com for Sellers.
 

Ashton Gustafson, e-Pro

940.224.0881 cell

ashton@bishoprealtors.com

Thus far 2009 has been an incredible year for myself and the Bishop Team. We have seen no slow down at all in this market, and it is one to be envied by the majority of the country. I have also launched new sites to better serve my clients and the market consumer.

www.TexomaListings.com is a site made strictly for BUYERS in Wichita Falls. This site will send you every home within your criteria and email you each morning with the new activity that has happened in the last 24 hours. If you are a buyer looking in Wichita Falls for a home to buy, this is the BEST site available.

www.TexomaHomeValue.com is a site made strictly for Sellers or those looking to sell. Wonder what you're home is worth today? See this site.

www.TexomaForeclosure.com is a foreclosure prevention site. If you are possibly looking at your home to be foreclosed on, I can help - and this site provides the initial counseling session.

www.TexomaHomeSource.com is a site for of information for anyone interested in the Real Estate market for Wichita Falls.

www.TexomaHomeSource.com/blog is a blog that is used to discuss market trends and city events.

Please call me at 940.224.0881 or email me at ashton@bishoprealtors.com for any questions you may have.

 Its time again for the downtown Wichita Falls St. Patrick's Day Celebration!

St. Patrick’s Day Celebration, Saturday, March 14 downtown Wichita Falls @ 8^th and Indiana.

Bands to include:  possibly an opening band at 5:00 before Brazos Stone; Irish Band from Ireland – Ireland’s Call;

and Del Castillo to wrap up the evening outside.  Food vendors include:

Matlock’s Irish Stew; Bahama Buck’s; Bar L Ribs; MT’s Hamburgers;

Plus speciality vendors.

 Hours:  Gates open at 4:30, music begins at 5:00 until 11:00pm; advance tickets can be purchased at

Downtown Wichita Falls Development; Iron Horse Pub; Market Street.

Cost of tkts:  at the gate: $15; In advance $12; DWFD member, military, or BCI member $10.00; children ages 6-12 $6.00. 

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.