Those interested in residential real estate in Kerrville will find many types and styles of homes for sale in Kerrville, as well as community events of interest and local amenities unique to the Kerrville area. Others may enjoy outdoor activities and family friendly atmosphere of Kerrville, .
If you are considering buying or selling property, planning to relocate, looking for Kerrville homes for sale, or looking for any other information about real estate in Kerrville, or the surrounding areas, you have come to the right place.
I can help you with your buying and/or selling needs and find information about Kerrville and surrounding commmunities, schools, real estate market conditions, recreation and much more!
So what are you waiting for?
Get the knowledge, get the edge, and get started today!
Sunday, March 6, 2011
Wednesday, March 2, 2011
Texas Independence Day March 2
Texas independence declared 175 years ago today. The Texas Declaration of Independence, a document proclaiming that Texas was freeing itself from its oppressive ruling government in Mexico, was modeled after the American Declaration of Independence. To this day, Texans pride themselves on being independent, innovative and hard-working people, all steming from the proceedings of our forefathers so many years ago. See more details of this historical event in the link.
Wednesday, February 23, 2011
Starting the new year in real estate.
Many people start the new year with resolutions about losing weight, starting a new physical fitness routine, or getting their financial house in order. How many of you are making resolutions about buying a home?
All resolutions are only achievable if you start with realistic expectations. The resolution's goal may be very short-term (think … I will finish mailing my Christmas cards by January 15) or longer-term (think … I will fit into my old high school dress in time for the reunion). The experts agree there are two keys to success in achieving your goals. First, commit the goal to paper. Second, tell a friend who will hold you accountable for progress toward the goal. The same keys are critical to achieving success when resolving to purchase a new home.
Buying a new home doesn't just happen. Most homebuyers spend considerable time, effort, and thought when searching for their next house to call "home." Buying your next house is not as simple as going to the store and buying a loaf of bread. You can't see through the wrapper, you don't know how the house is going to fit your lifestyle or budget and, until you talk to a lender, you don't even know what kind, style, or size of home you can afford. Like all resolutions, buying a house requires commitment and effort.
For 2011, it's more important than ever to have a homebuying plan. In the last month or so, interest rates on home loans have gone up about one-half point. That means that the $150,000, 4% fixed-rate, 30-year home loan you might have secured in November will cost about $50 more per month in January just to pay the extra one-half percent interest on the loan. You'll have to pay an extra $600 a year to live in the exact same house. And, you will need about $1,500 additional income each year just to qualify for the home loan. Most financial gurus are predicting mortgage interest rates will rise in the foreseeable future. Even if the price of your dream home does not go up, the monthly payment could rise dramatically if the gurus are right and interest rates continue to rise.
Without a strong commitment to your house-buying resolution, you could miss out on the home of your dreams or the "buy of the year." It's about as easy to begin a diet tomorrow, as it is to begin your home search tomorrow. There's always an excuse to put off starting something important; that piece of pie looks tasty and the diet will just have to wait. The same is true with a house purchase. You buy the new shoes, get the new car, or spend extra money on a nice dinner out. The next thing you know, the month is gone, the year is gone, the money is gone, and you are no closer to homeownership.
So, how do you make a commitment to buying a home? First, follow the expert advice and commit your plans to paper. Don't just make a mental note about buying a house, actually write down your goal: "I will buy a house in 2011." Once you write your goal, take the time to write down exactly what items are important to you about your next home. Do you want three bedrooms or four? It's important to have a yard (big or small), or perhaps you want "country property" on one or more acres? What is more important, a gourmet kitchen or a large family room for entertaining? How far are you willing to commute to work? If you have children, is it important that the home be located in a specific school district? As you begin thinking about your next home, many more "wants" for your next house will come to mind.
The next step in the resolution process is to tell a friend. I recommend when committing to purchasing a house that you don't tell just any friend but rather, tell a knowledgeable friend. Tell someone who knows the "ins & outs" of the homebuying process. Tell someone who has first-hand experience with the entire process – what houses are for sale, how home financing works, what to expect from a home inspector, the meaning of title insurance, what did other houses in the neighborhood sell for? I strongly recommend the friend you select to help you keep your resolution and achieve your goal of homebuying be a Texas REALTOR®.
A Texas REALTOR®, under state law and the National Association of REALTORS® Code of Ethics, is obligated to look out for your best interests. The term REALTOR® has come to connote competency, fairness, and high integrity, resulting from adherence to a lofty ideal of moral conduct in business relations. When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary, but it does not relieve REALTORS® of their obligation to treat all parties honestly.
If you don't know a Texas REALTOR®, I suggest you contact several real estate offices and interview some of their salespeople. With a little time and effort, you are bound to "connect" with one of them and be well on your way to keeping your resolution to purchase a house in 2011. Even better, when a Texas REALTOR® helps you with your purchase, you'll have a new friend in the real estate business and, possibly, many new friends in your new neighborhood.
All resolutions are only achievable if you start with realistic expectations. The resolution's goal may be very short-term (think … I will finish mailing my Christmas cards by January 15) or longer-term (think … I will fit into my old high school dress in time for the reunion). The experts agree there are two keys to success in achieving your goals. First, commit the goal to paper. Second, tell a friend who will hold you accountable for progress toward the goal. The same keys are critical to achieving success when resolving to purchase a new home.
Buying a new home doesn't just happen. Most homebuyers spend considerable time, effort, and thought when searching for their next house to call "home." Buying your next house is not as simple as going to the store and buying a loaf of bread. You can't see through the wrapper, you don't know how the house is going to fit your lifestyle or budget and, until you talk to a lender, you don't even know what kind, style, or size of home you can afford. Like all resolutions, buying a house requires commitment and effort.
For 2011, it's more important than ever to have a homebuying plan. In the last month or so, interest rates on home loans have gone up about one-half point. That means that the $150,000, 4% fixed-rate, 30-year home loan you might have secured in November will cost about $50 more per month in January just to pay the extra one-half percent interest on the loan. You'll have to pay an extra $600 a year to live in the exact same house. And, you will need about $1,500 additional income each year just to qualify for the home loan. Most financial gurus are predicting mortgage interest rates will rise in the foreseeable future. Even if the price of your dream home does not go up, the monthly payment could rise dramatically if the gurus are right and interest rates continue to rise.
Without a strong commitment to your house-buying resolution, you could miss out on the home of your dreams or the "buy of the year." It's about as easy to begin a diet tomorrow, as it is to begin your home search tomorrow. There's always an excuse to put off starting something important; that piece of pie looks tasty and the diet will just have to wait. The same is true with a house purchase. You buy the new shoes, get the new car, or spend extra money on a nice dinner out. The next thing you know, the month is gone, the year is gone, the money is gone, and you are no closer to homeownership.
So, how do you make a commitment to buying a home? First, follow the expert advice and commit your plans to paper. Don't just make a mental note about buying a house, actually write down your goal: "I will buy a house in 2011." Once you write your goal, take the time to write down exactly what items are important to you about your next home. Do you want three bedrooms or four? It's important to have a yard (big or small), or perhaps you want "country property" on one or more acres? What is more important, a gourmet kitchen or a large family room for entertaining? How far are you willing to commute to work? If you have children, is it important that the home be located in a specific school district? As you begin thinking about your next home, many more "wants" for your next house will come to mind.
The next step in the resolution process is to tell a friend. I recommend when committing to purchasing a house that you don't tell just any friend but rather, tell a knowledgeable friend. Tell someone who knows the "ins & outs" of the homebuying process. Tell someone who has first-hand experience with the entire process – what houses are for sale, how home financing works, what to expect from a home inspector, the meaning of title insurance, what did other houses in the neighborhood sell for? I strongly recommend the friend you select to help you keep your resolution and achieve your goal of homebuying be a Texas REALTOR®.
A Texas REALTOR®, under state law and the National Association of REALTORS® Code of Ethics, is obligated to look out for your best interests. The term REALTOR® has come to connote competency, fairness, and high integrity, resulting from adherence to a lofty ideal of moral conduct in business relations. When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary, but it does not relieve REALTORS® of their obligation to treat all parties honestly.
If you don't know a Texas REALTOR®, I suggest you contact several real estate offices and interview some of their salespeople. With a little time and effort, you are bound to "connect" with one of them and be well on your way to keeping your resolution to purchase a house in 2011. Even better, when a Texas REALTOR® helps you with your purchase, you'll have a new friend in the real estate business and, possibly, many new friends in your new neighborhood.
Tuesday, February 1, 2011
Investing in Texas Real Estate
Investing in Texas real estate
New option frees up funds for investment-retirement home
By Tom Kelly | Investment columnist
Nov. 22, 2010
A new jumbo reverse mortgage option has finally surfaced for seniors with higher-valued homes. These are folks who've been seeking to tap more home equity for a second home or investment property than the federally insured FHA program
can offer.
The Generation Plus Loan, now available through Atlanta-based Generation Mortgage, targets owners over the age of 62 with homes appraising between $500,000 and $6 million. Unlike the popular Home Equity Conversion Mortgage (HECM) offered by HUD, the jumbo reverse mortgage requires no mortgage insurance but the interest rate on the program is higher.
For many seniors, the jumbo reverse could supply the funds for an investment property today that becomes their retirement home down the road.
According to Jeff Lewis, chairman of Generation Mortgage, the new offer not only fills a niche for current seniors, but it will also serve aging boomers who are now still raising children and helping to support their parents. This "sandwich generation" will eventually need a way to halt their mortgage payments and stay in their homes even though they still have a mortgage. Homeowners with existing mortgages can qualify for a reverse.
"I was at a conference where attendees were asked if they, or their parents, had a reverse mortgage," Lewis recalls. "No hands went up. When they were asked how many were writing a check every month to help their folks, more than half the people in the room raised their hands. For most of their parents, a reverse mortgage would make sense."
A majority of seniors are better served by the HECM. Not only can customers receive the funds in a variety of ways (lump sum, monthly draw, line of credit, or a combination), but the interest rate on that fixed-rate product at press time was approximately 5.5%. The up-front mortgage insurance brings the actual rate closer to 6.75%.
The Generation Plus loan carries a fixed rate of 7.78% or 8.78%, depending on the program. All funds must be taken at closing and can be used to purchase an investment or retirement home at today's bargain prices. A minimum FICO score of 700 is required.
Why is a credit score critical in securing a jumbo reverse? Since there is no mortgage insurance requirement, the institutional investor supplying the funds for the loan wants assurance that the property owner has the ability to maintain the property and pay taxes and insurance, especially in a slumping market.
"While customers can use reverse mortgage funds any way they please, the funds do not come without obligations," Lewis says. "The owners are obliged to keep up the property like the other properties in the neighborhood. Since there is no mortgage insurance to protect the lender, the lender wants some assurance that the owner will continue to maintain the property when there is a potential for a negative adjustment (value decrease)."
Jumbo reverses first became available in 2000 when Financial Freedom introduced its Cash Account reverse mortgage. Since then, jumbo products brought to market by Seattle Mortgage (acquired by Bank of America), Senior Lending Network, Sun West Mortgage Company, and Bank of New York (now Metlife) and others were beginning to pick up momentum and a sliver of market share.
The credit crisis decimated the jumbo reverse market in 2008. Wall Street investors not only were shy about buying loans secured by real estate, but they were also opposed to acquiring jumbo packages. Lehman Brothers, which filed for bankruptcy protection in September 2008, was the world's biggest supplier of jumbo reverse mortgage funds. The Senior Lending Network offered its Equity Plus Advantage program and its Simple 60 plan (minimum age 60 years, rather than 62) until its Belgium-based parent, KBC Group NV, announced an open-ended moratorium on the products.
Also screeching to a halt were the Rex Agreement and Equity Key, financial contracts whereby the homeowner trades a portion of future equity for a cash payment today. They were intriguing options for savvy investors who believe they can realize a greater return on investments than on home appreciation. The Rex Agreement was backed by troubled insurance carrier AIG.
Equity Key is similar to the Rex Agreement. The main differences are that the Rex Agreement has no age restriction while Equity Key is aimed at homeowners between the ages of 65 and 85.
New option frees up funds for investment-retirement home
By Tom Kelly | Investment columnist
Nov. 22, 2010
A new jumbo reverse mortgage option has finally surfaced for seniors with higher-valued homes. These are folks who've been seeking to tap more home equity for a second home or investment property than the federally insured FHA program
can offer.
The Generation Plus Loan, now available through Atlanta-based Generation Mortgage, targets owners over the age of 62 with homes appraising between $500,000 and $6 million. Unlike the popular Home Equity Conversion Mortgage (HECM) offered by HUD, the jumbo reverse mortgage requires no mortgage insurance but the interest rate on the program is higher.
For many seniors, the jumbo reverse could supply the funds for an investment property today that becomes their retirement home down the road.
According to Jeff Lewis, chairman of Generation Mortgage, the new offer not only fills a niche for current seniors, but it will also serve aging boomers who are now still raising children and helping to support their parents. This "sandwich generation" will eventually need a way to halt their mortgage payments and stay in their homes even though they still have a mortgage. Homeowners with existing mortgages can qualify for a reverse.
"I was at a conference where attendees were asked if they, or their parents, had a reverse mortgage," Lewis recalls. "No hands went up. When they were asked how many were writing a check every month to help their folks, more than half the people in the room raised their hands. For most of their parents, a reverse mortgage would make sense."
A majority of seniors are better served by the HECM. Not only can customers receive the funds in a variety of ways (lump sum, monthly draw, line of credit, or a combination), but the interest rate on that fixed-rate product at press time was approximately 5.5%. The up-front mortgage insurance brings the actual rate closer to 6.75%.
The Generation Plus loan carries a fixed rate of 7.78% or 8.78%, depending on the program. All funds must be taken at closing and can be used to purchase an investment or retirement home at today's bargain prices. A minimum FICO score of 700 is required.
Why is a credit score critical in securing a jumbo reverse? Since there is no mortgage insurance requirement, the institutional investor supplying the funds for the loan wants assurance that the property owner has the ability to maintain the property and pay taxes and insurance, especially in a slumping market.
"While customers can use reverse mortgage funds any way they please, the funds do not come without obligations," Lewis says. "The owners are obliged to keep up the property like the other properties in the neighborhood. Since there is no mortgage insurance to protect the lender, the lender wants some assurance that the owner will continue to maintain the property when there is a potential for a negative adjustment (value decrease)."
Jumbo reverses first became available in 2000 when Financial Freedom introduced its Cash Account reverse mortgage. Since then, jumbo products brought to market by Seattle Mortgage (acquired by Bank of America), Senior Lending Network, Sun West Mortgage Company, and Bank of New York (now Metlife) and others were beginning to pick up momentum and a sliver of market share.
The credit crisis decimated the jumbo reverse market in 2008. Wall Street investors not only were shy about buying loans secured by real estate, but they were also opposed to acquiring jumbo packages. Lehman Brothers, which filed for bankruptcy protection in September 2008, was the world's biggest supplier of jumbo reverse mortgage funds. The Senior Lending Network offered its Equity Plus Advantage program and its Simple 60 plan (minimum age 60 years, rather than 62) until its Belgium-based parent, KBC Group NV, announced an open-ended moratorium on the products.
Also screeching to a halt were the Rex Agreement and Equity Key, financial contracts whereby the homeowner trades a portion of future equity for a cash payment today. They were intriguing options for savvy investors who believe they can realize a greater return on investments than on home appreciation. The Rex Agreement was backed by troubled insurance carrier AIG.
Equity Key is similar to the Rex Agreement. The main differences are that the Rex Agreement has no age restriction while Equity Key is aimed at homeowners between the ages of 65 and 85.
Thursday, January 27, 2011
Finding the right Realtor.
Buying a home is one of the largest purchases and biggest decisions of your life. The first thing to do is to find a Texas REALTOR® you trust.
In selecting your Realtor it can make a big difference in choosing someone that knows the community. Someone who works and lives within the community.
Before working with one, you should know that the duties of the REALTOR® depend on whom they represent.
Many REALTORS® specialize as buyer's agents, representing clients who are searching for their next home. These agents can save you time and money by researching properties based on your criteria, helping you secure the best mortgage rates, counseling you on the offer amount and terms most favorable to you, and negotiating on your behalf.
For buyers, there's really no downside to hiring a REALTOR® because the seller generally pays buyer's-agent commissions.
As an agent who is a long time resident and involved in the community; I believe in delivering exceptional service to my clients and their families to ensure your home buying or selling is as enjoyable and stress free as possible. I not only take pride in my work but, I am also very passionate about what I do.
In selecting your Realtor it can make a big difference in choosing someone that knows the community. Someone who works and lives within the community.
Before working with one, you should know that the duties of the REALTOR® depend on whom they represent.
Many REALTORS® specialize as buyer's agents, representing clients who are searching for their next home. These agents can save you time and money by researching properties based on your criteria, helping you secure the best mortgage rates, counseling you on the offer amount and terms most favorable to you, and negotiating on your behalf.
For buyers, there's really no downside to hiring a REALTOR® because the seller generally pays buyer's-agent commissions.
As an agent who is a long time resident and involved in the community; I believe in delivering exceptional service to my clients and their families to ensure your home buying or selling is as enjoyable and stress free as possible. I not only take pride in my work but, I am also very passionate about what I do.
Wednesday, July 14, 2010
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