Bandera's Real Estate "Cowboy Capital Realty"

January 22, 2012

Economic News Week: January 9, 2012

Filed under: Tony Stevenson — admin-texhill @ 5:21 pm
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Stocks rose last week kicking off the New Year on a high note. The Dow Jones industrial average added 1.2% and ended last Friday at 12359.92.   The S&P 500 rose 1.6% and the Nasdaq gained 2.7%. But the tone on Wall Street has been cautious and trading volumes have been low. Many investors have taken to the sidelines rather than commit to stocks. That could change in the coming weeks as U.S. companies begin to release fourth-quarter reports and corporate leaders discuss the outlook for 2012-all this from CNN’s Money Watch.

 

Another bit of good economic news is that Auto sales were up for 2011.  Auto sales remain an American economic booster when folks are ready to replace there old vehicles for newer ones. Auto sales do not happen when folks are  concerned about losing their jobs as they do not wish to take on increased debt.  So, an increase in sales means our economy is shifting gears for the better.

 

Local Economic, Real Estate, and Mortgage Industry News

 

“San Antonio is tops in small-business hiring report” was a headline in Saturday’s S.A. Express News.  A report from a national payroll services company showed that the San Antonio area increased hiring more than any other city in the U.S. last year.  Economists said the small-business job numbers that SurePayroll recorded for San Antonio reflect more growth than expected when the government finalizes overall job counts for 2011.

 

Home prices will rise and more people will be buying homes in the San Antonio area according to some speakers at the San Antonio Board of Realtors “Housing Forecast” last week.  A 1-2% increase in both sales volume and prices is expected.  “We’re not expecting any great boom”, said James Gaines, research economist with the Real Estate Center at Texas A&M.  “But it beats the heck out of going down.” In another comic  commentary, Mr. Gaines also added, “this economy feels sort of like a long family car trip where the kids keep asking, “are we there yet?”  I think he is just about correct in his assumptions about the economy.  However, I will add that all other economic indicators are pointing to better times ahead f0r 2012.  Slowly but surely things are getting better.

 

Finally, The average rate on a 30 year fixed mortgage fell to 3.91% last week for a short period of time according to Freddie Mac.  That matches the record low reached just two weeks ago.  Again, I am hearing from some Realtors that business seems to be picking-up as compared to this time last year. I would agree.  Home refinance application have picked-up as well.  I guess people are noticing that mortgage rates are still at very attractive levels.  However, the really smart homebuyers have probably also heard that rates/costs are fixing to get higher as when Congress passed the recent tax payroll two month extension they added a cost to be added to home mortgages to help pay for it.  If you or somebody you know is going to be in the market for a home soon, let them know that they had better get a move on if they do not want to pay the extra!

 

Economic Data due this week:  Monday:  Consumer Credit Data released.   Tuesday:  Wholesale Trade Inventories for November.  Wednesday:  Beige Book released.  Thursday:  Weekly Jobless Claims Report.  Thursday:  Freddie Mac releases weekly mortgage rates.  Friday: International Trade Data for November.

October 17, 2011

Explanatory Statements for the November 8, 2011 Texas Constitutional Amendment Election

Filed under: Economy and news updates — admin-texhill @ 8:21 pm
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Proposition Number 1 (SJR 14)

SJR 14 would amend the constitution to authorize the legislature to provide the surviving spouse of a 100 percent or totally disabled veteran with an exemption from ad valorem taxation of all or part of the market value of the surviving spouse’s residence homestead as long as the surviving spouse has not remarried, the property was the residence homestead of the surviving spouse when the qualifying veteran died, and the property remains the residence homestead of the surviving spouse.

The proposed amendment would appear on the ballot as follows:  “The constitutional amendment authorizing the legislature to provide for an exemption from ad valorem taxation of all or part of the market value of the residence homestead of the surviving spouse of a 100 percent or totally disabled veteran.”

Proposition Number 2 (SJR 4)

SJR 4 would amend the constitution to authorize the Texas Water Development Board to issue additional general obligation bonds on a continuing basis for one or more accounts of the Texas Water Development Fund II, with the restriction that the total amount of bonds outstanding at any time does not exceed $6 billion.

The proposed amendment would appear on the ballot as follows:  “The constitutional amendment providing for the issuance of additional general obligation bonds by the Texas Water Development Board in an amount not to exceed $6 billion at any time outstanding.”

Proposition Number 3 (SJR 50)

SJR 50 would amend the constitution to authorize the Texas Higher Education Coordinating Board or its successors to issue and sell general obligation bonds on a continuing basis for the purpose of financing educational loans for students, subject to certain constitutional restrictions, including a restriction as to the maximum principal amount of bonds outstanding at any one time.

The proposed amendment would appear on the ballot as follows:  “The constitutional amendment providing for the issuance of general obligation bonds of the State of Texas to finance educational loans to students.”

Proposition Number 4 (HJR 63)

HJR 63 would amend the constitution to authorize the legislature to permit a county to issue bonds or notes to finance the development or redevelopment of an unproductive, underdeveloped, or blighted area within the county, and to pledge increases in ad valorem tax revenues imposed on property in the area by the county for repayment of such bonds or notes.  The amendment does not provide independent authority for increasing ad valorem tax rates.

The proposed amendment would appear on the ballot as follows:  “The constitutional amendment authorizing the legislature to permit a county to issue bonds or notes to finance the development or redevelopment of an unproductive, underdeveloped, or blighted area and to pledge for repayment of the bonds or notes increases in ad valorem taxes imposed by the county on property in the area.  The amendment does not provide authority for increasing ad valorem tax rates.”

Proposition Number 5 (SJR 26)

SJR 26 would amend the constitution to authorize the legislature to allow cities and counties to enter into interlocal contracts with other cities and counties without having to assess an ad valorem tax and set aside a specified amount of funds for the payment of costs under the interlocal contract.

The proposed amendment would appear on the ballot as follows: “The constitutional amendment authorizing the legislature to allow cities or counties to enter into interlocal contracts with other cities or counties without the imposition of a tax or the provision of a sinking fund.”

Proposition Number 6 (HJR 109)

HJR 109 would amend the constitution to increase the amount of principal that is available for withdrawal from the permanent school fund each year and would also clarify certain references to that fund in the constitution.  Increased access to the principal of the state public education trust fund would be based upon HJR 109 granting the authority to consider alternative market calculations when determining the amount of principal that is available for distribution to the available school fund.  HJR 109 would also provide authority to distribute to the available school fund annual revenue from school fund land or other properties up to $300 million per year.

The proposed amendment would appear on the ballot as follows:  “The constitutional amendment clarifying references to the permanent school fund, allowing the General Land Office to distribute revenue from permanent school fund land or other properties to the available school fund to provide additional funding for public education, and providing for an increase in the market value of the permanent school fund for the purpose of allowing increased distributions from the available school fund.”

Proposition Number 7 (SJR 28)

SJR 28 would amend the constitution by adding El Paso County to the list of counties authorized to create conservation and reclamation districts to develop parks and recreational facilities financed by taxes.

The proposed amendment would appear on the ballot as follows: “The constitutional amendment authorizing the legislature to permit conservation and reclamation districts in El Paso County to issue bonds supported by ad valorem taxes to fund the development and maintenance of parks and recreational facilities.”

Proposition Number 8 (SJR 16)

SJR 16 would amend the constitution by requiring the legislature to provide for taxation of open space land devoted to water stewardship purposes on the basis of its productive capacity.

The proposed amendment would appear on the ballot as follows:  “The constitutional amendment providing for the appraisal for ad valorem tax purposes of open-space land devoted to water-stewardship purposes on the basis of its productive capacity.”

Proposition Number 9 (SJR 9)

SJR 9 would amend the constitution to authorize the governor, on the written recommendation and advice of the Board of Pardons and Paroles, to grant a pardon, reprieve, or commutation of punishment to a person who successfully completes a term of deferred adjudication community supervision.

The proposed amendment would appear on the ballot as follows:  “The constitutional amendment authorizing the governor to grant a pardon to a person who successfully completes a term of deferred adjudication community supervision.”

Proposition Number 10 (SJR 37)

SJR 37 would amend the constitution by extending the length of the unexpired term that causes the automatic resignation of certain local elected officeholders if they announce candidacy or become candidates for another office from one year to one year and 30 days.

The proposed amendment would appear on the ballot as follows: “The constitutional amendment to change the length of the unexpired term that causes the automatic resignation of certain elected county or district officeholders if they become candidates for another office.

July 27, 2011

What’s Happening in Our Local Market?

Filed under: Economy and news updates,News — admin-texhill @ 4:03 pm
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Great local Housing Trends for Bandera, Boerne, Kerrville, and all of San Antonio Area.

Texas – San Antonio Region Real Estate Market Update:  http://AndreaMcgilvray.housingtrendsenewsletter.com


June 6, 2011

Economic News Week: June 6, 2011

Filed under: Politics,Tony Stevenson — admin-texhill @ 3:42 pm
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By Tony Stevenson/SWBC Mortgage

Stocks fell for a fifth time in as many weeks as the DOW ended this past  Friday at 12151.  Unemployment concerns and concerns over  European debt were the main culprits for the decline.  Moody’s Investor Service is talking about lowering the U.S.’  triple AAA rating if we don’t increase our debt limit.  Keep in mind though that Moody also gave triple AAA ratings for  certain mortgage backed securities during the housing bubble only just a few years ago.   So,  I don’t know how serious their ratings would be taken in the first place.  That being said, Congress really needs to raise the debt limit-if anything-to keep global concerns from spiraling further.  Most economists agree that we are in a “temporary” economic downturn.  The U.S. unemployment rate increased  slightly to 9.1% as the private sector gain 54,000 jobs for the month.  Which is still better than  the 750k job losses we were digesting  just two and a half years ago.  Other causes for the global economic slowdown are the Japanese tsunamis (down 30% car production in San Ant0onio alone), home price declines and foreclosures, the situation in  Libya, and tornados and flooding in N. eastern and southern U.S. states.  It may be time  U.S. corporations to take the bull by the horns and start spending some of their huge earnings  and start re-investing and hiring instead of waiting for the government to intervene again.

 

Local Economic News

Gov. Perry has ordered our state Congress back in special session to resolve issues not answered during regular session.  Education funding being at the top of the agenda. Let’s hope they don’t put our children’s future at the bottom of the list. Most economists agree that any economic turnaround includes a well-educated community.

 

Oil did drop 10 percent in May which helped Memorial Day weekend travelers.  The Texas Hill Country was well traveled as river bound floaters and other tourists spent their weekend traveling the Texas highways stopping for short visits along the way.

 

Bankruptcy filings in South-Central Texas continue to slide.  A 26% drop in filings from just a year ago, May 2010.  Even though our state is finding itself in the throngs of penny-pinching and trying to find cuts- even among the elderly, our state has still been the shining star for the nation.  And I’m not talking about the Texaco Star.  We are being admired for our job growth.  The Eagle Ford Shale has come to the rescue as jobs are being filled daily as  the oil and gas boom in South Texas continues to share its wealth.

Real Estate and Mortgage Industry News

Home prices fell  4.2% in the first quarter to 2002 levels. This provides for an even  better buyer’s market.  Mortgage rates fell again too!  The 30 year fixed rate index fell to 4.55% from 4.60% just a week ago.  Great housing selection, low prices, and low mortgage rates, what else could potential home buyers be waiting for?  It shouldn’t be for lack of money as Mortgage lenders are loaning money.  You just have to have good credit and the ability to pay-along with a minimal down payments-for now.  This can all change at the drop of a hat.  When inflation does eventually raise its ugly head, folks will have wished they bought now-than later.

 

Personal Note:

SWBC Mortgage welcomes Tamara Tapman as  our Texas Vet/VA Liaison.  Tamara brings  a wealth of knowledge to our staff regarding Texas Vet and VA type loans. Tamara was previously employed by the Veterans  Land Board in San Antonio for 21 years. So, if you know of anyone needing a Texas Vet and/or VA  loan, please keep me in mind.   I promise to make it an even easier process for our Texas Veterans and Military personnel.

Economic Data Due this week: Wednesday: Fed Beige Book=information released for current economic conditions here in the U.S. from all the Fed’s covered regions.   Thursday: International Trade Balance=  this is a report regarding imports vs. exports of U.S. products.  Thursday: Weekly jobless claims.  Thursday: Freddie Mac releases weekly mortgage rates.

 

Quote of the week!

Bless your past for the best that has happened

and forget the rest.

— —Brian Buffini

 

Stupid Joke of the week!

A farmer was quoted in the town newspaper as having “2008 pigs”.

He showed up the next morning to declare to the editor,  “That’s a

misprint!” He continued, “I  never said I have 2008 pigs. I told your reporter that I had 2 sows and 8 pigs.”

 

Please remember Karen Franz and I with any mortgage referrals you can send us!

May 12, 2011

Water Right Information updated!

Filed under: Uncategorized — admin-texhill @ 3:33 pm
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Some great information was provided at our general Bandera County Board of Realtor meeting May 10, 2011 by a Local Attorney (Cynthia Payne) that keeps us local Realtor’s on top of water rights! Mrs Payne provided us a short update on what is going on on the state level. Her information is always appreciated.

Here are a few items she brought to our attention and I researched some links with more information. Hope this of interest!

1) Bill 332. The Word “VESTED” has been put onto the floor to be added to the “interest” of ground water. Please read more here from our State Senator Troy Fraser:  http://www.fraser.senate.state.tx.us/pr11/p011211a.htm

2) Right for Exemption of wells that is fore domestic and personal water use if you have more than 10 acres.  More information can be found http://www.tgpc.state.tx.us/FAQs.htm

3) H.B. No. 1086 – Water control /Improvement in Bandera County.  http://tx.opengovernment.org/sessions/82/bills/hb-1086

4) Proposed “water Stewardship” as a exemption to reduce property tax: http://tx.opengovernment.org/sessions/82/bills/sb-449

5) Edwards Aquifer vs Day – No verdict yet, but expect one after the Legislator is out. At least that is what we expect.  Here is the Supreme Court website for more details  http://www.supreme.courts.state.tx.us/ebriefs/files/20080964.htm
or/and  http://docketdb.com/public/docket/08-0964

6) and one last wow..Texas Researchers to Study Fracking of Shale Gas – Is is safe for our ground water?? How will they control this and how will this impact our aquifers.. I don’t have a good gut feeling about it!.

University of Texas at Austin officials say the school will study the environmental impact of natural gas drilling and whether existing regulation properly oversees a key process that pumps chemical-laced water into subterranean rock.

Drillers make rocks known as shale formations more permeable though a method called hydraulic fracturing that allows the gas to flow out. The process has been used for decades, but now companies are “fracking” while also drilling horizontally, a tactic that only became economically viable about 10 years ago.

Read more: University of Texas to study ‘fracking’ impact on environment – Mywesttexas.com: Oil http://www.mywesttexas.com/business/oil/article_a9575228-7a64-11e0-883c-001cc4c002e0.html#ixzz1M9W5FEw1

The http://www.mywesttexas.com/business/oil/article_a9575228-7a64-11e0-883c-001cc4c002e0.html

 

Defering Capital Gain Tax via 1031

Filed under: 2011,from Andrea — admin-texhill @ 1:51 pm
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Here at our local  Bandera County Board of Realtors we had a fantastic class on how a 1031 Exchange works.  There are sooo many options that if one is to find themselves in a capital gain’s situation, I would highly recommend talking with a reputable 1031 exchange Intermediary. WOW  is what I say.. I am not qualified to provide on details but here is the basic information.

You have 180 days to close/fund on a similar  (Price/value – not only type  IE: sell a ranch to buy commercial, sell commercial to buy ranch, home for home, rental for home (s) etc..  full details available) property that you will sell. BUT you have to have it identified in 45 days.

So before you plan on selling your property and if you will be paying Capital Gains tax, PLEASE let me know so we can start looking long before your property is sold.

Craig Brown from IPX1031  was the speaker at our session and here is his website:  http://www.ipx1031.com

Craig Brown, Esq.
Vice President
Regional Manager

e-mail

craig.brown@ipx1031.com

Cellular

(817) 271-1031

 

 

April 15, 2011

Texas REALTORS® urge lawmakers to protect homeowners

Filed under: News,Politics — admin-texhill @ 11:46 pm
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Apr. 13, 2011

More than 2,000 Texas REALTORS® converged on Austin yesterday to visit with state lawmakers on issues affecting Texas homeowners.  I was one of them!

“Texas withstood the real estate bubble that ravaged the rest of the country, largely because state leaders made private-property rights a priority in recent sessions,” says Dwight Hale, chairman of the Texas Association of REALTORS®. “We are focused on maintaining those policies so homeownership remains affordable in Texas.”

Texas REALTORS® are urging passage of legislation to strengthen property owners’ rights against eminent domain abuses and eliminate private transfer fees … a scam in which a hidden fee must be paid by the homebuyer anytime a property is sold, for up to 99 years.

Texas REALTORS® also oppose legislation that would weaken home-equity lending protections Texas homeowners have enjoyed since 1998 … protections the Texas Association of REALTORS® pushed for back in the 1997 session. “This kind of protection doesn’t exist in other states, and many homeowners have found themselves upside down on their loans as a result,” Hale says. Read the news release on PR Newswire

Good Neighbor Next Door – 50% from the list price of the home

Filed under: Economy and news updates — admin-texhill @ 10:57 pm
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About Good Neighbor Next Door

Law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD’s Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence.

How the Program Works

Eligible Single Family homes located in revitalization areas are listed exclusively for sales through the Good Neighbor Next Door Sales program. Properties are available for purchase through the program for five days.

How to Participate in Good Neighbor Next Door

Check the listings for your state. Follow the instructions to submit your interest in purchasing a specific home. If more than one person submits on a single home a selection will be made by random lottery. You must meet the requirements for a law enforcement officer, teacher, firefighter or emergency medical technician and comply with HUD’s regulations for the program.

HUD requires that you sign a second mortgage and note for the discount amount. No interest or payments are required on this “silent second” provided that you fulfill the three-year occupancy requirement. The number of properties available is limited and the list of available properties changes weekly.

Please check out this site where you can search for them!  Foreclosure search!

April 5, 2011

2010 Texas Market Report

Filed under: 2011,Economy and news updates — admin-texhill @ 8:39 pm
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Here are the real estate market reports for the state’s 25 Metropolitan Statistical Areas (MSAs). The reports cover census data, employment and unemployment, major industries, business climate, education, transportation and infrastructure issues, growth patterns and much more. Best of all, they are available from the Center’s website for free.

San Antonio and AREA Market report

If you would like to look at all of Texas, please visit the Texas A&M website:

March 25, 2011

Website Moved. :->

Filed under: Blog — admin-texhill @ 8:39 pm
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The website was moved to another server last night so sorry there was a interruption of information.

 

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