Austin Real Estate Daily

The Senate has passed a bill extending the $8,000 first-time homebuyer tax credit

November 5, 2009

***UPDATE*** Thursday 3pm****The House has passed the bill ***Now it goes to the president***
The Senate unanimously passed a bill extending the $8,000 first-time homebuyer tax credit by a vote of 98-0, making it applicable to contracts entered into by April 30, 2010, and closing by June 30, 2010. In addition, the bill includes a new [...]

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“Introduction to Wraps” John McClellan

November 5, 2009

A Mortgage Wrap is an alternative Seller financing tool which allows a Buyer/Borrower to purchase a property without the existing mortgage being paid off. Rates, terms and down payment are agreed upon by the Buyer and Seller through negotiations. A real estate attorney drafts the promissory note, deed of trust, warranty deed and associated documents.

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Austin home sales…..month to month

September 10, 2009

Below is a graph outlining the month to month change in existing home sales locally. Looks like we are rebounding – however this may be a false reading due to the first time home buyer incentives being offered.

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Check out our new video… Listen – Learn – Lend!

August 21, 2009

John McClellan explains the concept behind Listen, Learn, Lend.

John McClellan is a longtime Central Texas mortgage banker that has developed a sensible approach to understanding and dealing with the real estate market in Austin and Central Texas. John’s expertise includes mortgage lending, refinancing and strategic investment planning.

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How USDA Loans Saved the Market

August 1, 2009

Let’s be honest! USDA loans can’t really save the market; however, they do have a place in today’s mortgage market. My office has been abuzz about USDA loans for the past couple of months—a program that has become, as of October 1, the only affordable zero-down loan program available (other than VA loans, for which [...]

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Rates have dipped again!!

July 13, 2009

Rates on a 30 & 15 year fixed rate mortgage have dipped again and if you have been on the fence NOW would be the time to get off. We should continiue to see rates bounce up and down but we are seeing an upward trend as the bottom bounce continues it upward direction.
30 year fixed [...]

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Rush is on to refinance as rates fall

July 9, 2009

Local lender: Rates might drop even
further
Last Edited: Thursday, 04 Dec 2008, 5:24 PM CST
Created On: Thursday, 04 Dec 2008, 11:06 AM CST
* Matt Flener
AUSTIN (KXAN) – Homeowners looking for a little help in this tough economy might just need to consider refinancing. Mortgage rates for a 30-year fixed loan were trading as low as 5.25 [...]

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Dissecting Downtown

June 3, 2009

Downtown Austin is front and center when it comes to speculation about the real estate market in our great city. The visibility of our new construction, specifically our new residential condominiums, makes these vertical neighborhoods easy to survey simply from the comfort of our morning and evening commutes.

The fact is that these new homes in [...]

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