Archive for February, 2008
The Case For Not Waiting
Originally uploaded by thenelsonproject
Even if house prices drop some in your neighborhood, your payment may not.
Interest rates have increased by 0.6 percentage points in 5 weeks:
January 24, 2008: 5.48%
February 21, 2008: 6.04%
Scenario 1:
Prices decrease by 5% and interest rates increase by 0.5%
Scenario 2:
Prices decrease by 10% and interest rates increase by 1.0%
Scenario 1
Scenario 2
Price [...]
Read Full Post | Make a Comment ( None so far )The Converted Garage
Originally uploaded by thenelsonproject
In Austin, Texas we do not have basements. In some neighborhoods, especially older 40’s, 50’s and 60’s homes that are storage-challenged (Crestview, Hyde Park, Rosedale), many homeowners seem compelled to convert their attached garage into additional living space.
This is not typically a good thing.
I have seen more bad garage conversions than [...]
Remodel vs. Sell
Originally uploaded by thenelsonproject
During my years selling real estate, I’ve seen many instances where homeowners made home improvements assuming they would recoup their investment when they sold, only to find to their dismay that the improvements added nothing to their home’s market value and, in fact, it may have even decreased it.
How could this [...]
Did you read Sunday’s Statesman column about “Foreclosure problem is far from a crisis”?
Originally uploaded by thenelsonproject
Columnist Scott Burns was commenting on mortgage foreclosure rates data released by RealtyTrac, a firm that compiles data on home foreclosures.
The report shows some sorry stats in various cities throughout the country but he points out that there is actually some reassuring information in the report. I think the reassuring information [...]
Are Austin Homes Sales Falling? Today in the ABJ …
Originally uploaded by thenelsonproject
Headlines do not tell the whole story. Today’s headline in the Austin Business Journal: Austin home sales still falling
Compared with 2007, January 2008 number of properties sold is down 10% but prices were up 7%.
“Some consumers may be attempting to market-time their purchase, which temporarily delays property transactions,” says ABoR Chairman [...]
How Much Can You Afford?
Originally uploaded by thenelsonproject
Use the following to chart to determine your monthly principal and interest payments at various interest rates for either a 15 or 30-year term.
Interest Rate Factors Per $1,000
Interest
Rates
Term
15 Years
Term
30 Years
Interest
Rate
Term15 Years
Term
30 Years
4
7.40
4.77
8
9.56
7.34
4 ¼
7.52
4.92
8 ¼
9.70
7.51
4 ½
7.65
5.07
8 ½
9.85
7.69
4 ¾
7.78
5.22
8 ¾
9.99
7.87
5
7.91
5.37
9
10.14
8.05
5 ¼
8.04
5.52
9 ¼
10.29
8.23
5 ½
8.17
5.68
9 ½
10.44
8.41
5 ¾
8.30
5.84
9 ¾
10.59
8.59
6
8.44
6.00
10
10.75
8.77
6 ¼
8.57
6.16
10 ¼
10.90
8.96
6 ½
8.71
6.32
10 ½
11.05
9.15
6 ¾
8.85
6.48
10 [...]
Home Warranty Comparisons
If you are in the process of buying a home and have chosen to purchase (or the sellers are providing for you – even better) a home warranty, then we would like to help you assess your options. Remember that a home warranty is not the end-all to home repair or home headaches as they [...]
Read Full Post | Make a Comment ( 6 so far )Austin Visitors Street Guide
Austin City Street Guide … a guide for the lost & confused
Originally uploaded by thenelsonproject
You can call it weird but most likely you’ll call it confusing, but Austin has this way of confusing our visitors with numerous names for the same street. Makes it difficult for a realtor to help their newby’s orient to our fine [...]
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