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FHA Limits Restored

November 21, 2011 By Leave a Comment

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This just in from the National Association of REALTORS® News Desk: Congress has restored the loan limits for the FHA for two years.

Back in September we let you know that the loan limits had been reduced in over 40 states. Effective immediately, these limits have returned to the previous levels.

For San Antonio, this means that the limit of an FHA home mortgage is once again:

$337,500

The reinstated FHA loan limit should help to keep mortgages affordable and accessible. FHA morgtgages require one of the the lowest downpayment of any traditional mortgage currently on the market (3.5%) and their presence in the market is critical as we work towards a housing market recovery.

If you have questions about FHA loans, contact a professional REALTOR® or mortgage broker for specifics.

image courtesy of krissen

Filed Under: Mortgages and Financing Tagged With: , , , , , , ,

Don’t let HGTV guide all of your decisions.

November 12, 2011 By Leave a Comment

Astroturf

In reference to our recent post, “How to be a good home buyer or seller.,” we thought it might be good to cover some real world examples to help showcase why these items were so important.

“Seek advice of experts.”

There once was an individual who was an avid HGTV watcher. He loved the designers, watched the reruns of rehabs, and ate up all of the handy, do-it yourself tips. He approached his agent with grand plans to install an astroturf lawn on his property. He saw it on television, it got rave reviews in it’s Arizona neighborhood and he just knew that spending the extra $15k was going to bring him loads more when he went to sell. His agent advised against investing so much money in something so rare in his neighborhood. He chose not to listen to his local REALTOR®, and instead went ahead with the project on his $98,000 home.

He did get the property under contract eventually, but when it came time for an appraisal, there was a problem. Not only could the appraiser not find any other properties nearby with a similar feature (to determine value), but this particular appraiser actually the perpetually green lawn as a detraction and subtracted value from the property for it. Not only was the seller not able to sell the property for what he wanted (the property did not appraise and a lower sales price had to be negotiated), but the seller ended up losing money on the deal because the extra $15K investment could not be substantiated.

As Chris Griffith, a Bonita Springs real estate agent, wrote in her MLS Fail Shots post on AgentGenius, “Design on a Dime lied to you.“

Need expert advice for your next real estate transaction? Contact us and one of our agents will help guide you through your next home sale or purchase.

image courtesy of !!!! scogle

Filed Under: Sell Your Home Tagged With: , , , , , , ,

Veterans Day Meal Discounts

November 10, 2011 By Leave a Comment

Veteran Tribute

In honor of great and devoted service to our country, many local and national restaurants are offering Veterans extensive discounts on products and services this November 11 (Veteran’s Day). For those of you who have given your time, energy, and heart to the USA, we want to offer our heartfelt and continued thanks from the bottom of our heart.

Applebees – Last year Applebees served over 1,000,000 free meals to military service men and women as a part of their annual Veteran’s Day discount. This year, veterans and active servicemembers may choose from one of 7 pre-selected entrees that they may eat for free. Must show proof of service.

Chili’s – is offering all past and present military service men and women a choice of one of 6 meals for free on Friday, November 11 from 11am- 5pm at participating locations. Drink, tip and tax not included, and evidence of service required.

Golden Corral – is hosting their 10th Annual Golden Corral Appreciation Dinner from 5-9 pm on Friday, November 11 at all locations nationwide. The free dinner applies to all active and retired military servicemembers, as well as Reserves and National Guard.

Hooters – is serving up 10 free wings (boneless or regular) to veterans and active duty military personnel all day. Drink purchase is required.

Outback – has dedicated the entire week to their Veteran’s day tribute. November 7-11, you can receive a Free Bloomin’ Onion & Coca Cola product from any Outback location (with proof of service). Check out their their website for all the details.

Subway – is dishing out free 6-inch subs or flatbreads at all participating locations. This offer is good on November 11 only, and only at participating locations. Military ID or proof of service required.

TGI Friday’s – knows Veterans don’t serve alone, so they’re offering a Buy One Get One Free deal for all active and retired military service men and women on 11/11/11. Military uniform or ID required

image courtesy of Bisayan Lady

Filed Under: Local Events Tagged With: , , , , , ,

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