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Zilkia Olmeda-Martins, GRI, Realtor San Antonio Texas Luxury Homes

Boerne ~ Lost and Found Pet Resources

boernepets.com

On Saturday evening, while enjoying breakfast for dinner with my family, I ran across a postcard advertising a Boerne lost/found pet website. I went home to check it out and was pleased about what I saw.

BoernePets.com is the result of a joint collaboration between the Boerne Animal Shelter and the Hill Country Animal Defense League.

You can upload your lost pet fliers or your found pet fliers onto boernepets.com & view a complete database of lost pets, including all those in the Boerne Shelter/Pound.

If you are looking to adopt a new pet, don't forget to check out this site for a full list of adoptable pets from both the Boerne Shelter and the Hill Country Animal Defense League.

Government Lending Tip of the Week

Overview of FHA's Property Flipping Policy

FHA requires:

  • Only owners of record may sell properties that will be financed using FHA-insured mortgages; FHA property flipping policy
  • Any resale of a property may not occur 90 or fewer days from the last sale to be eligible for FHA financing; and
  • Resale's that occur between 91 and 180 days where the new sales price exceeds the previous sales price by 100 percent or more, FHA will require additional documentation validating the property's value.

FHA also has flexibility to examine and require additional evidence of appraised value when properties are re-sold within 12 months.

Exceptions to 90-day Restriction

The following sales are exempt from the time restrictions provided by §203.37a:

  • Sales by HUD of its Real Estate Owned
  • Sales by other United States Government agencies of single family properties pursuant to programs operated by these agencies.
  • Sales of properties by nonprofits approved to purchase HUD-owned single-family properties at a discount with resale restrictions.
  • Sales of properties that are acquired by the sellers by inheritance.
  • Sales of properties purchased by employers or relocation agencies in connection with relocations of employees.
  • Sales of properties by state and federally charted financial institutions and Government Sponsored Enterprises.
  • Sales of properties by local and state government agencies.
  • Upon FHA's announcement of eligibility in a notice (i.e., Mortgagee Letter), sales of properties located in areas designated by the President as federal disaster areas, will be exempt from the restrictions of the property-flipping rule. The notice will specify how long the exception will be in effect and the specific disaster area affected.

Is Now A Good Time To Buy A Home In San Antonio?

question button

Lately, there has been a question that I have been hearing a lot from my buyers.

Is now a good time to buy a home in San Antonio?

My Answer: Maybe...

The answer to this question can only be answered by each individual buyer. Is it a good time for them to purchase a home in San Antonio? This depends on many factors such as:

  • financial situation
  • employment status
  • credit score
  • personal situation
  • location of home
  • condition of home
  • price-range
  • how long are you planning to keep it

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Let's face it, in most areas of San Antonio we are in a buyer's market. There are currently over 11,500 properties listed for sale in the San Antonio MLS. Are there some deals to be had? Absolutely! Are all of these homes a good deal? NO Are the sellers realistic and motivated? Some are... some aren't. Are foreclosures and short sales a good deal? Some are... some aren't. Do you think the market has hit bottom? I don't know, the only way we will know for sure is when we can see the bottom of the market from our rear view mirror...

These are the things I do Know.

  1. Interest Rates are at historic lows.
  2. There is a $8,000 tax credit available for first time buyers.
  3. New home builders are offering generous incentives to encourage buyers to purchase new homes.
  4. San Antonio home prices in most areas are relatively flat.

So let's get back to the question... Is it a good time for you to buy a home in San Antonio? It depends. The first step would be for you to consult with a real estate professional and a mortgage professional to determine what would be right for you and your family.

Proposed Texas Real Estate Transfer Tax ~ Senate Bill 942

texasGiven the state of our economy, legislators are looking for additional sources of revenue.

During the 81st regular session of the Texas Legislature, three senate bills (SB-950, SB-934, SB 942) were introduced that would potentially increase the costs of purchasing a home in the state of Texas.

Senate Bill 942, is the most agressive of these bills, and would allow Texas counties to enact new taxes to help fund transporation projects. One of the new tax options is a real estate transfer tax to be paid within 30 days of the transfer of property. The counties would have the power to set their own transfer tax rates and would require that the real estate tranfer tax be paid before the county clerk records any instrument relating to a real estate transaction in the state of Texas.

The Texas Association of Realtors strongly opposes the passing of this SB-942 and feels that this bill would be detrimental to Texas consumers and the overall Texas economy.

For more information about how this bill would affect you, the consumer, go to sanantoniofairtaxes.org.

San Antonio Welcomes Disney On Ice

Disney On Ice: Mickey and Minnie's Magical Journey will be presented at the San Antonio Alamodome starting on Wednesday, April 8th, 2009 thru Sunday, April 12th 2009.

This Disney On Ice production promises to be another family favorite, with Mickey Mouse and Minnie Mouse embarking on a journey into the world of some of Disney's most beloved characters such as The Little Mermaid, The Lion King, Lilo and Stitch, and Peter Pan.

For ticket information, please contact Ticketmaster.