Archive for May, 2011

Tuesday, May 31st, 2011

The Truth About The American Economy via @bi_contributors

April Pending Home Sales Drop After Two Monthly Gains

Tuesday, May 31st, 2011

Pending home sales fell in April with regional variations following increases in February and March, with unusual weather and economic softness adding to ongoing problems that are hobbling a recovery, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, dropped 11.6 percent to 81.9 in […]

Tax Free Weekend – Energy Star Products

Friday, May 27th, 2011

During Memorial Day weekend, Texas shoppers get a break from state and local sales and use taxes on purchases of certain energy efficient products. The 2011 Energy Star sales tax holiday begins at 12:01 a.m. on Saturday, May 28, and ends at 11:59 p.m. on Monday, May 30 (Memorial Day). You must purchase an appliance […]

Foreclosures Dropping to New Low in Texas

Wednesday, May 25th, 2011

According to said Scott Norman, president of the Texas Mortgage Bankers Association Residential mortgage foreclosure rates continue to fall in Texas, dropping to percent during the first quarter of 2011 — well below the national average of 4.52 percent. Texas now has the sixth lowest foreclosure rate in the country. If this trend continues, it’s […]

Possible New Downpayment Requirements for FHA

Tuesday, May 24th, 2011

According to newswire, the House Financial Services Committee have drafted a bill to raise the minimum down payment for Federal Housing Administration-backed loans to 5 percent as well as cut FHA loan limits in many markets. The current minimum requirement for most home buyers is 3.5% To read the entire article click here. To find […]

Austin Statistics: April 2011

Monday, May 23rd, 2011

In reviewing the month of April, it’s a mixed bag. Austin is continuing to see an upward pressure on closed sales transactions but the volume is off by 22%. There is much in the economy that gives buyers and seller’s pause, but a recent article I read on the Wall Street Journal (April 7, 2011) […]

Learn about Conservation Easements (LCRA)

Wednesday, May 18th, 2011

Did you know that with a conservation easement you can preserve your property from land development even after you die? A conservation easement is a restriction landowners voluntarily place on specified uses of their property to protect natural and cultural features. The Lower Colorado River Authority (LCRA) is sponsoring a free conservation easement workshop on […]

What is a Mortgage Credit Certificate?

Tuesday, May 17th, 2011

A Mortgage Credit Certificate allows the homebuyer to claim a tax credit for some portion of the mortgage interest paid per year. It is a dollar for dollar reduction against their federal tax liability. Mortgage Interest Credit (MCC) is a non-refundable tax credit, therefore, the Homebuyer MUST have tax liability in order to take advantage […]

40 Month Low in Foreclosures

Thursday, May 12th, 2011

RealtyTrac released U.S. Foreclosure Market Report for April 2011, which shows foreclosure filings, default notices, scheduled and bank repossessions — were reported on 219,258 U.S. properties in April, a 9 percent decrease from March and a 34 percent decrease from April 2010. “Foreclosure activity decreased on an annual basis for the seventh straight month in […]

Month in Review of the Texas Economy – April

Tuesday, May 10th, 2011

Recent report, “Month in Review of the Texas Economy” shows that Texas is outperforming the rest of the nation in job creation in all sectors from March 2010 to March 2011, except finance. The largest contributor to private sector jobs is the mining/logging sector which as added 15.4% more jobs to the Texas economy. With […]