The mortgage tax passed and signed into law in late December 2011 is still largely unknown by the public. As we get close to implementation, I asked John McClellon with Supreme Lending to explain how the new tax will impact the cost of a mortgage. The mortgage industry is commonly referring to this new tax as the G-Fee. … [Read more...]
Archives for January 2012
MetLife Closes Mortgage Division Citing Government Regulation
The Wall Street Journal reports that MetLife recently closed its profitable mortgage division, firing 4,300 workers, because it was not willing to continue in the industry because of the "regulatory environment." That's a nice way of saying the government is so intrusive into the business that it isn't worth it for us to keep the doors open. MetLife got into the mortgage business in 2008 when the industry was at the bottom because it was able to get in there cheap. However, in October, the Fed informed MetLife they … [Read more...]
Coming Soon! 7213 Quimper Lane, Austin, TX 78749
Coming to the market by early February, this 4 bedroom, 2 1/2 bath home is located in the Legend Oaks in Austin. It is a foreclosure situated on a cul-de-sac. To request a showing before the house hits the market, contact me at 512-650-7300, by email, or the form below. … [Read more...]
Dorm Room or Big Home in the Suburbs?
I missed this article when it ran about two months ago, so you may have seen it already. If not, you may be a bit envious of these college students who are living in luxury homes for less than the cost of a dorm room. Of course, they'll be the envious ones when they graduate and can't find a job, right? … [Read more...]
New Texas Laws Relating to HOAs
On January 1, 2012, a host of new laws went into effect in Texas. In this video, I summarize a few related to the ability of an HOA to foreclose. … [Read more...]
How’s the Market in Steiner Ranch? – January 2012
In this edition of How's the Market in Steiner Ranch?, I review a few of the monthly sales stats, give my interpretation of them, and discuss the new tax on mortgages. To view summary and detailed information for all Steiner Ranch neighborhoods, check out the Neighborhood Home Sale Data. If you are looking to buy or sell a home in Steiner Ranch, contact me at 512-650-7300, by email, or the form below.If you prefer to read instead of watch, here the transcript: Transcript In December, 24 homes closed in … [Read more...]
How’s the Market in Steiner Ranch? – 2011 Year End
In this year-end edition of How's the Market in Steiner Ranch?, I review the year end sales figures, give my interpretation of them, and provide my predictions for 2012. Here are the additional stats and graphs referenced in the video: Resale and All MLS. As the name implies, the Resale link is for resale properties only. The All MLS link is for all Steiner Ranch properties listed in the MLS. This includes some new construction homes, but certainly not all new construction homes sold in Steiner. As a result, it … [Read more...]
Austin Home Sale Prices for December Now Available
I just updated the Neighborhood Home Sale data for December. You can access the sales prices for home sales in over 90 Austin area neighborhoods by clicking here. Detailed information is available for those who register and summary data is available for those who do not. If you are ready to become part of these monthly statistics by either buying or selling a home, contact me at 512-650-7300, by email, or the form below. … [Read more...]
New Tax on Mortgages
Little publicity has been given to a new tax on mortgages that was signed into law on December 23, 2011, as a result of the negotiations to extend unemployment benefits and payroll tax reductions. In this video, I discuss what this tax means for new mortgages. If you have any questions about this new tax or other real estate issues, contact me at 512-650-7300, by email, or the form below. For those of you who prefer to read instead of watch, here is the general transcript of the video: On December 23, … [Read more...]