Kitchens and Baths Continue as Focus of Design Activity in Homes
February 29, 2008
Renewable materials and energy-efficient products for kitchens and baths have risen in popularity, while economic concerns among homeowners has resulted in a decline in demand for high-end appliances and features. To accommodate an aging and less mobile population, there is also a greater emphasis on accessibility and adaptability throughout the home. These findings are from the American Institute of Architects (AIA) Home Design Trends Survey focused specifically on kitchen and bathrooms in the fourth quarter of 2007. Residential architects have reported the weakest business conditions in the three-year history of this survey, indicating that the housing market is not poised for a recovery in the near term.
Click here for link to the full report
San Antonio Ranks 10th For Highest Rate of House Price Appreciation
February 26, 2008
*Top 20 Metropolitan Statistical Areas and Divisions With
Highest Rates of House Price Appreciation
Percent Change in House Prices with MSA Rankings
Period Ended December 31, 2007
(Estimates use all-transactions HPI which includes purchase and refinance mortgages)
*For composition of metropolitan statistical areas and divisions see
http://www.whitehouse.gov/omb/bulletins/fy2008/b08-01.pdf or see OFHEO HPI FAQ #8 for more information.
**Note: Rankings based on annual percentage change, for all MSAs containing at least 15,000 transactions over the last 10 years.
Source: Office of Federal Housing Enterprise Oversight(OFHEO)
Report published on February 26, 2008 can be found at www.ofheo.gov page 30.
Don’t Skip On Title Insurance
February 24, 2008
TYPICAL TITLE PROBLEMS
To close on a house, the buyer usually must have title insurance guaranteeing that he or she will be the sole owner.
Insurance companies refuse to provide that insurance in some cases. Here are common examples of why title insurance would be denied:
•Grandparents die without leaving wills, and one child keeps the home without proper legal documents. It’s not found until two generations later.
•The property description differs from the sales contract.
•The previous owner forged mortgage documents to show that he or she had paid off a previous mortgage. But the former mortgage company still owns the property.
Source: Alamo Title Co.
San Antonio Real Estate Market Report January 2008
February 22, 2008
San Antonio began 2008 with a slow month which saw the number of home sales for January drop 17.3 percent from a year ago, as well as a 1.9 percent drop in the median home price from $142,400 to $139,700, according to the Texas A&M University Real Estate Center.
While median home prices tend to dip each January from December, it was the first time since 1999 that the price dropped lower than the previous January’s price.
“It’s definitely a little down but not enough to create all that much excitement,” said Jim Gaines, research economist at the Real Estate Center. “I think the median price will still go up but at a relatively modest rate this year.”
Servicer Contact Numbers for Homeowners
February 21, 2008
Below are the customer contact telephone numbers of HOPE NOW servicer members. If
you are a homeowner having trouble with your mortgage, please call your servicer’s hotline for
assistance (please have your account number ready when calling).
If you would like to talk to a HUD-approved homeownership counselor, please call the
Homeowner’s HOPE Hotline, 888-995-HOPE, operated by the Homeownership Preservation
Foundation. Free counseling is available 24 hours a day, 7 days a week. You can also visit
www.995hope.com for more assistance.
| Servicer | Hotline |
| Aurora Loan Services | 800-550-0509 |
| Avelo Mortgage, LLC. | 866-992-8356 |
Shorten Your Mortgage And Save Thousands
February 20, 2008
A 15-year fixed-rate mortgage lasts half as long as a 30-year fixed-rate loan. You don’t have to work in the lending industry to know that. But if you guessed that monthly payments on a 15-year loan cost twice as much as on a 30-year loan, you’re in for a surprise.
First American CoreLogic Report San Antonio Increasing Property Value
February 18, 2008
| 3 and 12-Month Change By Top CBSAs (Core Based Statistical Areas) as of December 2007 | ||
| 3 Month | 12 Month | |
| Change | Change | |
| Austin-Round Rock, TX (Metropolitan) | 0.91% | 8.09% |
| New York-White Plains-Wayne, NY-NJ (Metropolitan) | 0.61% | -0.35% |
| San Antonio, TX (Metropolitan) | 0.12% | 6.82% |
| Houston-Sugar Land-Baytown, TX (Metropolitan) | 0.00% | 3.70% |
| Salt Lake City, UT (Metropolitan) | -0.03% | 9.07% |
| Dallas-Fort Worth-Arlington, TX (Metropolitan) | -0.06% | 3.21% |
| New York-Northern New Jersey-Long Island, NY-NJ-PA (Metropolitan) | -0.18% | -2.06% |
| Cape Coral-Fort Myers, FL (Metropolitan) | -0.75% | -13.74% |
Home Staging Could Be The Difference Between Sold or Still On The Market
February 16, 2008
What is Staging?
- Home staging is anything that helps a home seller make a home more attractive and appealing to potential buyers.
- Typically, a home stager brings in furniture, artwork, plants, rugs and accessories to make a house look its best while on the market.
- Some stagers also offer contractor-consulting services, which may include choosing paints, tiles, carpets and working with contractors to get the house ready.
- When sellers want to use their own furnishings, the stager can consult with them on how to reduce clutter and to open up rooms.
San Antonio’s Median Sales Price For Single-Family Homes Up 7.9 Percent
February 14, 2008
Roughly half of metropolitan areas continued to show rising home prices in the fourth quarter of 2007, according to the latest quarterly survey by the National Association of Realtors®.
In the fourth quarter, 73 out of 150 metropolitan statistical areas(1) show increases in median existing single-family home prices from a year earlier, including 11 areas with double-digit annual gains and another 12 metros showing increases of 6 percent or more; 77 had price declines including 16 with double-digit drops.
San Antonio Ranks 44th In The Nation For Foreclosures
February 13, 2008
| Rate Rank | Metro Area | Foreclosure Filings | Properties with Filings | %Households (foreclosure rate) | % Change from 2006 |
|---|---|---|---|---|---|
| 1 | DETROIT/LIVONIA/DEARBORN, MI | 72,616 | 41,273 | 4.918 | 68.15 |
| 2 | STOCKTON, CA | 22,184 | 10,608 | 4.866 | 271.3 |
| 3 | LAS VEGAS/PARADISE, NV | 59,983 | 30,375 | 4.228 | 169.11 |
| 4 | RIVERSIDE/SAN BERNARDINO, CA | 102,506 | 51,739 | 3.826 | 186.14 |
| 5 | SACRAMENTO, CA | 49,532 | 23,772 | 3.189 | 272.54 |
| 6 | CLEVELAND/LORAIN/ELYRIA/MENTOR, OH | 49,071 | 27,848 | 2.972 | 112.43 |
| 7 | BAKERSFIELD, CA | 13,682 | 7,524 | 2.96 | 244.82 |
| 8 | MIAMI, FL | 51,662 | 25,296 | 2.724 | 106.13 |
| 9 | DENVER/AURORA, CO | 49,519 | 26,632 | 2.641 | 27.79 |
