Real Estate Information Archive

What is the Texaplex?
David Winans coined the term “Texaplex” to describe the triangular region of Texas that contains 75% of the state’s population. Watch the video and see why everyone is talking about the Texaplex.

The Texaplex Project
The global financial crisis is a vicious cycle. The more we hear and talk about it, the worse it gets. However, in spite of all the national bad news, Texas is prospering! Texas, and in particular the Texaplex, has some pretty impressive facts that most Texans weren’t even aware of. This video is part of the Texaplex project which has set out to change that.

Did you know that the Texas Real Estate market is one of the strongest in the nation? Did you know that half of all new jobs created in the US were in Texas?

See this link for an incredible video on the Texas economy. http://www.texaplex.com/

Thus far 2009 has been an incredible year for myself and the Bishop Team. We have seen no slow down at all in this market, and it is one to be envied by the majority of the country. I have also launched new sites to better serve my clients and the market consumer.

www.TexomaListings.com is a site made strictly for BUYERS in Wichita Falls. This site will send you every home within your criteria and email you each morning with the new activity that has happened in the last 24 hours. If you are a buyer looking in Wichita Falls for a home to buy, this is the BEST site available.

www.TexomaHomeValue.com is a site made strictly for Sellers or those looking to sell. Wonder what you're home is worth today? See this site.

www.TexomaForeclosure.com is a foreclosure prevention site. If you are possibly looking at your home to be foreclosed on, I can help - and this site provides the initial counseling session.

www.TexomaHomeSource.com is a site for of information for anyone interested in the Real Estate market for Wichita Falls.

www.TexomaHomeSource.com/blog is a blog that is used to discuss market trends and city events.

Please call me at 940.224.0881 or email me at ashton@bishoprealtors.com for any questions you may have.

Many people have asked about this possible amendment. See link here fore more details. http://isakson.senate.gov/Amdt_106.pdf

If you are considering purchasing a home in the Wichita Falls area, please see www.TexomaListings.com for a list of every home within your criteria.

If you are considering SELLING, please see www.TexomaHomeValue.com for a free CMA for your home.

It has become very popular as of late to become involved in the investment side of real estate. I have helped numerous people accomplish all different types of goals in this arena. Some are looking to pay for their childs college, others are looking to start something that will be their retirement, others are looking for an income producing hobby. No matter your reason for looking into this, I can help.

See www.TexomaListings.com - This will give the opportunity to fill out what you are looking for...single family, duplex, apartments? You can find it all here.

If I can answer any other questions about the market or creative financing, please let me know.

BUYING A FORECLOSURE IN WICHITA FALLS?

                  With the number of foreclosed homes on the market, buying a foreclosed home is something many people are considering.  As we all know, a foreclosure means that a home owner is unable to pay the mortgage and  therefore the bank has taken back the property.  The main advantage of buying a foreclosed home is that because a bank wants to recover as much of its investment as quickly as possible, foreclosed homes are often sold for a significant discount with record lows being currently reported of up to 30% the current market value.
                  Many times the process of finding and acquiring a foreclosed home can be much more complex than the traditional ways of purchasing a home from the personal resident.  Because of these complications, it is more important than ever when buying a foreclosed home to work with an experienced agent. Some Banks won't accept offers from unrepresented buyers, and there is more negotiating and more paperwork with a foreclosure than you would deal with in a conventional purchase. 
                  Tour the property and inspect it as closely as possible. Some foreclosures may be in fairly good shape while others may need significant maintenance.  Have your agent check comparable homes in the area to see if the listing price for a foreclosed home really is a bargain.
                  Once you find the foreclosure you like, it is also important to know that any contract on a foreclosed home will require a letter of approval from a lender, some Banks even require that you be approved by their bank as well.  This letter must be presented with the initial offer.  After the offers have been submitted, many times banks will be slow to respond as it can be a long approval process for every step of the negotiation. 
                   Once the terms of the contract are fully negotiated, the Bank will require the buyer to sign multiple addendums to the offer that protect the bank from the liability of the property.  These are nothing to be alarmed about the majority of the time, but definitely need to be reviewed by an attorney. 
                   Have the home inspected by a professional home inspector, your agent can help you with this.  Many foreclosures are sold "as is", meaning the sellers will not do any repairs or provide monetary compensation for repairs on the home, but an inspection will uncover any serious problems with the house and allow you to decide whether to move forward with the purchase.
                  As a whole, the process can be somewhat complex, but definitely worth it with the type of savings that we are currently seeing in the market.   If you or someone you know is interested in finding a foreclosure to purchase, let Ashton Gustafson help you find that deal and make the process easy for you.

Are you currently facing the possibilities of foreclosure in Wichita Falls, TX?

If so, you are not the only one. We have launched a new site to help serve those that have hit hard times and are looking for a way out.

There are countless hardships that can turn home ownership from a joy into a burden.  The loss of a job, medical bills, or an unexpected hike in monthly payments can all make a mortgage unaffordable.  But ignoring the bills will not make them go away, it will only make things worse.

If you need help, there are approaches that can help, but you may not be familiar with them.  One of these is a "short sale."

In an approved short sale, the lender agrees to accept less than is owed for the property, and the homeowner is relieved of the debt.  A lender may be willing to do this because it spares a lot of hassle and expense involved in executing a foreclosure.  And typically, a short sale does far less damage to the homeowner's credit than a foreclosure does.

Please go to www.TexomaForeclosure.com - SAFE - FREE - SECURE

For more information on foreclosure prevention, call Ashton Gustafson of The Bishop Realtor Group at 940.224.0881 or ashton@bishoprealtors.com

Homeowners facing possible foreclosure are especially vulnerable to the various schemes employed by today’s con artists. Don’t fall prey to their promises. The best first step is to call your lender at once if you think you may miss your mortgage payment.

Here are some scams to watch out for:

"Sign the deed over to me, and I’ll take care of the rest. It’s all about acquiring control of your property in exchange for various promises. The "investor" may promise to make up back payments owed to your lender or to sell your home to pay back the mortgage. He or she may ask you to move out immediately, or may offer you a rental agreement so you can continue living in the home, or may even offer cash for your equity in the home.

Unfortunately, signing over your home’s deed to a third party does not clear your obligation for the mortgage. Once the deed is signed over, the unscrupulous "investor" can start making money with the property--raise your rent payments to unaffordable levels, evict you, rent the property to someone else or set up a rent-to-own agreement that nets the "investor" a tidy amount of deposit money. Meanwhile, the con artist may not make your back payments or may skip town with whatever money was made from the property. You still owe the mortgage and your lender continues the foreclosure process against you.

"Just file for bankruptcy." Filing for bankruptcy typically only postpones the foreclosure rather than stopping it. However, bankruptcy could give you time to reorganize your finances and possibly save your home. If you decide to go this route, make sure you work with a reputable bankruptcy attorney and you understand the process and the likely outcomes, including the impact on your credit.

"We’ll negotiate with your lender to stop foreclosure. Simply pay our one-time fee." You might pay $500, $1,000 or more for a bogus "service" that may not stop foreclosure or that you could have accomplished yourself--for free--with calls to your lender. There are, however, legitimate organizations out there that really can help: contact the US Department of Housing and Urban Development (HUD) at (800) 569-4287 for a list of HUD-approved counseling agencies or search online at www.HUD.gov/offices/hsg/sfh/hcc/hcs.cfm .