Real Estate Information Archive


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The Hangover from Summer 2010.

by Ashton Gustafson

Good Monday Morning to you.

The Market

As we enter these Summer months, there's no doubt things feel different than they did a year ago. Last year we had one of the biggest June's on record - this of course was a byproduct of the 1st Time and Repeat Buyer tax stimulus for home buyers. Washington said, "buy a home - get $8000"....and EVERYBODY took them up on it.

This summer, we've seen available inventory in the 1st Time Home Buyer range grow to record levels. Essentially, the market borrowed buyers from the future last Summer. People that would have purchased in '11 and '12, took advantage of the tax credit, low rates, and made a great decision doing so. Which is why there are so many homes available in the under $100,000 range. The buyers for this Summer, purchased last Summer.

Last Summer's market was not real. We cannot compare last year's stats to this year and ask, "what are we doing wrong?" So please, don't Judge the market by its Government Stimulus Package.

The Opportunity

Average days on market for homes that SOLD in May was 82. Average day on market for homes that RENTED was 52. Rentals entered and left the market 37% faster than did homes that sold. If you are cash positioned to take advantage of this opportunity to invest, call me ASAP. Don't let this be the Summer that got away. With our current inventory, these investments are making wonderful returns for our clients. Visit

Other Sites

If we can serve you or anyone you know this week, please let me know.

Go Mavs.

American National Bank Releases "Easy Fix" Mortgage

by Ashton Gustafson

American National Bank of Wichita Falls, TX has officially released what it calls the "Easy Fix" Mortgage.

This loan program features:

  • Combination purchase, refinance and repair loan for repairs or improvements up to $35,000.00.
  • One-time closings.
  • Allows purchase of a home in "as-is" condition based on "as improved value"

If you have questions about this loan program of looking to buy a "fixer-upper" in Wichita Falls, contact Ashton Gustafson at 940.691.7355.

For every home available for sale in Wichita Falls, see

FHA Buyers Need to Purchase Before April 4, 2011

by Ashton Gustafson

Wichita Falls Mortgage Update

HUD has issued an increase in Mortgage Insurance Premiums effective with all case numbers assigned on or after April 4th 2011.  The annual premium will increase from 90 basis points (.90) to (1.15) basis points.  For example, this will mean an increase in monthly premiums of $75.00 per month to $95.83 or a 27% increase per month.  Obviously it is in a buyer's best interest to purchase a home prior to April 4th.

See and let us know how we can serve you today!

Displaying blog entries 1-3 of 3

Contact Information

Photo of Ashton Gustafson Real Estate
Ashton Gustafson
The Bishop Realtor Group
1916 N. Elmwood Ave.
Wichita Falls TX 76308
Office: 940-691-7355
Fax: 940-691-7363