Real Estate Information

LITE UP TEXAS is back. The Low Income Electric Discount Program will run May 2009 through Auguest 2009. For additional information and program requirements you can call 1-866-454-8387 or go to the Public Utility Commission of Texas website at http://www.puc.state.tx.us/ocp/assist/liteup/index.cfm

For all other Real Estate information for Wichita Falls, see www.TexomaHomeSource.com .

It has become very popular as of late to become involved in the investment side of real estate. I have helped numerous people accomplish all different types of goals in this arena. Some are looking to pay for their childs college, others are looking to start something that will be their retirement, others are looking for an income producing hobby. No matter your reason for looking into this, I can help.

See www.TexomaListings.com - This will give the opportunity to fill out what you are looking for...single family, duplex, apartments? You can find it all here.

If I can answer any other questions about the market or creative financing, please let me know.

With already 1 month behind us in 2009, the Bishop Team is setting the pace for another record breaking year. In 31 days we had 22 sales. Rates are great and inventory is full - please let me know if there is anything I can do or any questions I can answer for you this week.
www.TexomaListings.com - Buying?   

   
www.TexomaHomeValue.com - Selling?

www.TexomaForeclosure.com - Prevention?       

www.TexomaHomeSource.com - Info?

BUYING A FORECLOSURE IN WICHITA FALLS?

                  With the number of foreclosed homes on the market, buying a foreclosed home is something many people are considering.  As we all know, a foreclosure means that a home owner is unable to pay the mortgage and  therefore the bank has taken back the property.  The main advantage of buying a foreclosed home is that because a bank wants to recover as much of its investment as quickly as possible, foreclosed homes are often sold for a significant discount with record lows being currently reported of up to 30% the current market value.
                  Many times the process of finding and acquiring a foreclosed home can be much more complex than the traditional ways of purchasing a home from the personal resident.  Because of these complications, it is more important than ever when buying a foreclosed home to work with an experienced agent. Some Banks won't accept offers from unrepresented buyers, and there is more negotiating and more paperwork with a foreclosure than you would deal with in a conventional purchase. 
                  Tour the property and inspect it as closely as possible. Some foreclosures may be in fairly good shape while others may need significant maintenance.  Have your agent check comparable homes in the area to see if the listing price for a foreclosed home really is a bargain.
                  Once you find the foreclosure you like, it is also important to know that any contract on a foreclosed home will require a letter of approval from a lender, some Banks even require that you be approved by their bank as well.  This letter must be presented with the initial offer.  After the offers have been submitted, many times banks will be slow to respond as it can be a long approval process for every step of the negotiation. 
                   Once the terms of the contract are fully negotiated, the Bank will require the buyer to sign multiple addendums to the offer that protect the bank from the liability of the property.  These are nothing to be alarmed about the majority of the time, but definitely need to be reviewed by an attorney. 
                   Have the home inspected by a professional home inspector, your agent can help you with this.  Many foreclosures are sold "as is", meaning the sellers will not do any repairs or provide monetary compensation for repairs on the home, but an inspection will uncover any serious problems with the house and allow you to decide whether to move forward with the purchase.
                  As a whole, the process can be somewhat complex, but definitely worth it with the type of savings that we are currently seeing in the market.   If you or someone you know is interested in finding a foreclosure to purchase, let Ashton Gustafson help you find that deal and make the process easy for you.

Have Your Tenant Pay for Your Child’s College Education!

Did you realize that if your purchase a rental property while your child is young, you will have a property to sell in 15 years (using a 15 year mortgage) that will pay for their college education….

and it didn’t cost you anything!

Here is the equity created in a $125,000 rental property with a 10% down payment with NO CONSIDERATION for the property appreciating!

            Equity today (down payment)                         $12,500

            Equity in 5 years                                                      $52,054

            Equity in 10 years                                                   $84,311

            Equity in 15 years                                                   $125,000

Let me help you find the right kind of property to meet your financial needs. Taking the first step is scary, but I can show you how numerous people have added a property to their portfolio each year, how the properties are managed, pitfalls to avoid and vendors you can depend on!

www.TexomaHomeSource.com

940.224.0881

Ashton Gustafson

The Bishop Realtor Group

The University Kiwanis will be holding their annual Pancake Festival on January 26 @ the Wichita Falls MPEC. This is a great event for the entire family to attend.

There are several ways to reduce your energy useage that are easy and don’t take a lot of time or money.  By taking steps to save energy you will also be saving money. The less you use, the less you spend! Here are some simple tips to get you started.

• Be sure to fix any defective plumbing or leaks. A single dripping hot water faucet can waste 212 gallons of water a month and not only raise your water bill but your energy bill as well.
• Use glass and ceramic dishes to cook with, not only do they hold heat better, they can lower the oven temperature by 25 degrees!
• Whenever possible, try to cook and heat your food in the microwave instead of a full sized oven. A microwave only uses 20 percent of the energy required by a conventional oven.
• Check the lint trap on your dryer regularly, it will help the warm air circulate better and dry your clothes faster.
• Consider changing your lighbulbs to the new screw in fluorescent bulbs.  They last six times longer than regular bulbs, a 20 watt fluorescent bulb is equivalent to a 60 watt regular bulb.
• Shut down your computer when you are not using it, or at least keep your computer and its monitor in sleep mode rather than leaving them on around the clock. According to the EPA, you can use 80 percent less electricity, which over the course of a year could have the effect of cutting CO2 emissions by up to 1,250 pounds.
• Run the washer (and dishwasher) only when you have a full load to save energy and water.
• Try to use the cold water setting on your washing machine rather than the warm and hot. 90% of the energy used when doing a load of laundry is actually spent heating the water.

These easy to follow tips will help to get you started in saving energy  and not only will you notice a difference in your monthly bill but you will working to help the environment. For more information on other ideas you can use to save energy visit the US Department of Energy’s website and learn more today!

Ashton is proud to announce the launching of Lake Wellington's first website, www.LakeWellingtonHomes.com . If you are looking for a home in Lake Wellington, simply go to this site and email Ashton with the criteria that you are looking for. The available homes will be emailed to within 24 hours.

Ashton continues to seek a "modern approach to real estate" for his clients and the community.

If you have any other questions concerning your next move or the market, feel free to email ashton @ ashton@bishoprealtors.com or call at 940.224.0881

www.TexomaListings.com - For Buyers

www.TexomaHomeValue.com - For Sellers

Are you currently facing the possibilities of foreclosure in Wichita Falls, TX?

If so, you are not the only one. We have launched a new site to help serve those that have hit hard times and are looking for a way out.

There are countless hardships that can turn home ownership from a joy into a burden.  The loss of a job, medical bills, or an unexpected hike in monthly payments can all make a mortgage unaffordable.  But ignoring the bills will not make them go away, it will only make things worse.

If you need help, there are approaches that can help, but you may not be familiar with them.  One of these is a "short sale."

In an approved short sale, the lender agrees to accept less than is owed for the property, and the homeowner is relieved of the debt.  A lender may be willing to do this because it spares a lot of hassle and expense involved in executing a foreclosure.  And typically, a short sale does far less damage to the homeowner's credit than a foreclosure does.

Please go to www.TexomaForeclosure.com - SAFE - FREE - SECURE

For more information on foreclosure prevention, call Ashton Gustafson of The Bishop Realtor Group at 940.224.0881 or ashton@bishoprealtors.com