Real Estate Information Archive

Good morning and happy Cyber Monday!

The Market

You know there is a great parallel between Black Friday and the Real Estate market. Actually, the parallel goes with any market where goods are bought and sold...not just Real Estate. To read my latest blog entry on this, see http://www.texomahomesource.com/Blog/Black-Friday-and-the-Real-Estate-Market.

The Opportunity

Nearly 2 years ago, I launched my first buyers only site @ www.TheFallsHomeFinder.com. Within weeks this site became our areas #1 resource for information on the available properties within the Greater Wichita Falls Area. The beauty of this site is that buyer can select how it would like to be updated on the market and create a favorites list of the homes you want to see. House hunting has never been this easy. With interest rates this low, this site can unlock great opportunity.

The Prairie Open House

Remember this is the first of two weekends that The Prairie will be available for viewing. Come and see our area's first Sustainable/Green project. For information on the available lots, see www.ThePrairieWF.com.

Make it a great week!

"As life is action and passion, it is required of a man that he should share the passion and action of his time, at the peril of being not to have lived."                  Oliver Wendell Holmes

Black Friday and the Real Estate Market

You know there is a great parallel between Black Friday and the Real Estate market. Actually, the parallel goes with any market...not just Real Estate.

We often laugh at (or with) our friends that line up outside of Best Buy over 12 hours before the doors open in the cold just so they can get that TV they have lusted after all Thanksgiving Day in the glossy newspaper ads. But why all the hype? Why all the madness?

Answer? Price.

A couple of weeks ago Wall Street announced that numerous retail stores reported earnings less than what was expected for the last quarter. Did that effect the consumer this morning? No. Did the consumer still stand in sub freezing temperatures just to be first at the door? Yes. Did they care what Wall Street said about earnings? No. The consumer saw that they could save over $1000.00 on a TV if they bought today...its all about price. Black Friday is simply another way to say, "buy today or regret tomorrow."

So here is the parallel. You may have heard that the market is bad or that buyers are no longer buying. That is a false statement. When we look at what is selling in the markets, the properties that are selling have been on the market less than 60 days. For the Real Estate market, that is NOT a long time.

So why are the days on market so short for what is selling? Because the consumer knows value when they see it. The buyers are online and in the papers everyday looking for the home that can be bought for $200,000 today, but would cost $210,000 to build. Furthermore, when the consumer sees value, they act on it and purchase. Buyers are everywhere, but we have convinced ourselves they are not there because some of the listings in the market are stagnant (fancy word for overpriced).

Now class, let's conclude our discussion. Is your price compelling? Would you sleep outside of your home in the cold to buy it at the price you're listed at? If not, you may want to take a lesson from Mr. Black Friday.

Happy Black Friday and Merry Christmas.

Written by: Ashton Gustafson - Owner - Bishop Realtor Group

Ashton Gustafson is one of top producing Real Estate agents in North Texas. He was selected by Realtor Magazine in 2010 as on the top 30 agents in the U.S. under the age of 30. Currently, he is an owner at the Bishop Realtor Group in Wichita Falls, Texas with his grandparents, Ann and Denny Bishop.

For more information on Ashton go to:

www.SeeWhatTheyAreSaying.com

www.AshtonGustafson.com

www.TheFallsHomeFinder.com - Looking to buy?

www.TexomaHomeValue.com - What's my home worth?

The chanted questions seemed rhetorical as the Chico State student body rained down the chants of "Who let the air out?" and "How'd you get here?"  The throng may have been referring to the prank that left four flat tires between two vans which were Midwestern State's transportation to the University Soccer Stadium Saturday morning.  The second-ranked Mustangs, however, had quick and resounding answers for each question.  Junior striker David Freeland scored the first of his three goals just 40 seconds into the match as MSU quickly deflated any Chico State hopes of returning to a Final Four with a convincing 5-0 whipping of the Wildcats in the NCAA Division II national quarterfinals. The Mustangs (19-0-2) are making their second trip to the NCAA Division II Final Four and will face Rollins (Fla.) on Thursday, Dec. 2 on the campus of Bellarmine University in Louisville, Ky.  Catch all the soccer action with live stats or watch the game by going to www.msumustangs.com and follow the link to the NCAA. 

Good Monday morning to you and Happy Thanksgiving!

At the Bishop Realtor Group we are thankful for so much this Thanksgiving week. Because of you, our clients, we have had the best year in our company's history. Thank you for entrusting your business to us and sending us your referrals. May God bless you and your family this Thanksgiving Season.

Affordability

Did you know that there is a $140 difference in monthly payments from where rates were 2 years ago on a $100,000 loan? That's nearly $1500 of savings in a year and over $50,000 in savings over the life of the loan!

These record rates make our current market a wonderful opportunity to look at acquisition and building wealth in Real Estate. If you would like to discuss your options, please call me anytime @ 940.691.7355 or preview the market @ www.TheFallsHomeFinder.com.

Podcast

This month's edition covers the Greater Wichita Falls real estate market activity and then we'll detail the “Top Four Selling Tips” for getting your home sold in a competitive market! See www.TheFallsPodCast.com.

The Prairie Open House and Tour

Come tour The Prairie and one of our areas 1st Green/Renewable Energy homes for two weekends: December 4th-5th & December 11th-12th. For more information on The Prairie available lots, see www.ThePrairieWF.com. And for information on the home available for touring, see http://www.connollyhousetexas.com/.

Make it a great week!

If you want to turn your life around, try thankfulness.  It will change your life mightily.  ~Gerald Good

Good Monday morning to you!

Market Snapshot

There are currently 62 residential properties IN-CONTRACT at this time in the Wichita Falls MLS. Only 4 (6%) are listed over $300,000. While many people thought the First Time Home Buyer Tax Credit expiration would pull young buyers out of the market, the low interest rates have kept them hanging around...and rightfully so. If one is currently spending $800/month in rent, they can easily afford a mortgage at or near $100,000. Maybe that's why 84% of the current IN-CONTRACTS are under $200,000.

The market as a whole this year has roughly been flat. And judging by what the media reports on other markets and the nation as a whole, we are very fortunate. As the tortoise taught us, "slow and steady (growth) wins every time." For more information on what is available @ this time, see www.TheFallsHomeFinder.com.

Looking To Invest?

Have you ever thought about investing in Real Estate? Many people believe this is a very difficult and risky way to invest one's money. In reality, it may be one of the safest avenues available. As a Certified Investor Agent Specialist, I would be glad to meet with you and discuss your options and opportunities that are available. With interest rates at historical lows, now is the perfect time to enter the market. See www.ImAHappyBuyer.com.

Come View The Prairie

You may have heard about a new project in Archer County called The Prairie that I have been honored to be associated with. The Prairie is a residential green development located  just 10 minutes from Wichita Falls, Texas off of FM 1954 on Decker Road. It consists of 200+ acres with 28 available home sites made up of five to seven acres each.

December 4-5 and 11-12, we will be holding an open house to come and view The Prairie as well as the first finished home in the development. See http://www.connollyhousetexas.com/ for details, directions, and information.

Quote of the Week

"It's a funny thing about life; if you refuse to accept anything but the best, you very often get it." W. Somerset Maugham

Ashton Gustafson, owner of the Bishop Realtor Group, is proud to bring you the November Real Estate Report for Wichita Falls and North Texas.

This month's edition covers Greater Wichita Falls real estate market activity and then we'll detail the “Top Four Selling Tips” for getting your home sold in a competitive market!

See link below for information.

http://www.talkrealty.com/ashtongustafson - Pod Cast

Local Agent Receives Training to Effectively Counsel Real Estate Investors, Provide Wealth-Building Strategies
 
Austin, TX– (10-30-10) – Ashton Gustafson of the Bishop Realtor group in Wichita Falls has earned the prestigious Certified Investor Agent Specialist™ (CIAS) Designation, having completed extensive training to understand the different real estate investor types, and the investment opportunities, financing options and calculations needed to provide solutions for each.
 
The five real estate investor types include: First-Time Investors, Move-Up Investors, Portfolio Investors, Performance Investors, and Rehab and Resell Investors. “For decades, investing in real estate has proven to be a consistent and stable way for individuals to build wealth,” Gustafson said. “Real estate investment supports a number of industries, including construction, retail and professional services, and is a strong way to energize and increase investment in our local economy.”
 
Over the past 12 months, investment and second-home properties comprised more than $300 billion in sales, representing approximately 19 percent of all residential real estate transactions. In addition, in market conditions affected by mortgage industry challenges, 48 percent of investors made all-cash purchases.
 
“As markets face the challenges of distressed properties and a difficult economy, real estate investors have the opportunity to find productive deals while helping communities stabilize,” Gustafson said. “Investors provide much needed liquidity to the market, decrease vacancy rates, improve neighborhoods, and present solutions for homeowners who need to sell.”
 
With the CIAS Designation training, Gustafson will help Wichita Falls-area residents build wealth through real estate investment, and homeowners facing foreclosure find potential buyers for their properties. Today, millions of homeowners are either delinquent on their mortgages or in the foreclosure process. One potential solution for homeowners in this situation is a short sale, in which the lien holder accepts a sale price of the home that is less than the mortgage amount owed. Increasingly, real estate investors are facilitating this solution.
 
“When it comes to properties that actually end up in foreclosure,” Gustafson added, “up to 30 percent of them can’t close conventionally. Investors are often the only ones who can buy them.” The Distressed Property Institute provides live and online CIAS Courses to train real estate professionals how to address the needs of all real estate investors.
 
For more information about the CIAS Designation, visit www.cias.com.

Good Monday morning to you!

News in The Falls!

You may have heard that Wichita Falls was selected as one of the top 10 most affordable places to live in the U.S. The city was ranked No. 6 by the C2ER-Council for Community and Research in its third quarter ACCRA cost of living index. For more information see, http://www.timesrecordnews.com/news/2010/oct/28/wf-named-top-10-least-expensive-places-live-us/

Ashton Becomes North Texas' 1st CIAS

Also, I had the privilege this week to attend a class to to receive my CIAS certification. As a Certified Investor Agent Specialist™ (CIAS), I am specifically trained to find, create and close with residential real estate investors. Through comprehensive education and experience, I  have gained the knowledge and tools to streamline the process of real estate investment and help increase returns for investor clients.

Where can I Help Real Estate Investors Navigate?

• Investment Strategies
• Self-directed IRAs
• 1031 Exchange
• Leverage Options
• Key Calculations
• Return-on-Investment
• Capitalization Rate
• Average Returns
• Cash Flow
• And much more!

I am developing a new site at this time for local investors, but remember www.TheFallsHomeFinder.com to preview what is available in the market at this time.

Best of luck this week, and cheer on the Rangers!

“Some men see things as they are and say, ‘Why?’ I dream things that never were and say, ‘Why not?’ George Bernard Shaw