About Bexar County, TX

Home Sellers in San Antonio, TXand everywhere else can breath a little sigh of relief because President Obama signed legislation that helps extend some unemployment benefits and a few other things to include Home Ownership, called the Worker, Homeownership and Business Assistance Act of 2009.

Now, you may be wondering why I am talking to Home Sellers in San Antonio, rather than Buyers. First of all, there are going to be TONSof blogs and news articles talking about assisting buyers with this First Time Homebuyers Tax Credit extension. It is going to be no mystery to those Buyers who are now ready to hop off of that fence and purchase a home. By the way, those of you still thinking of buying a home, trust me, now is the time to get off of the fence as this Tax Credit has most likely seen its last extension. Of course, you can always take a Gamble and roll the dice one more time to see if they will extend it yet again.

I wanted to specifically talk to Home Sellersbecause this Tax Credit Extension is sure to help you during one of the toughest seasons to sell, the Holiday Season. I wrote a BLOG yesterday about deciding whether to keep your home on the market or list it during the Holidays. It is a tough decision at times, because as you now know, the Buyer pool tends to slow down during the Holidays. Although during this time frame, you get fewer lookers, you most likely get more serious Buyers. With the First Time Homebuyers Tax Credit extension, selling a home during the Holiday Season just got TONS better! The Buyers should be coming out of the woodwork and getting down to business in getting into a home!

Additionally Sellers, those of you who have been thinking about moving up can also enjoy this new legislation. It offers those of you who have been living in your home for 5 consecutive years out of eight an opportunity to get into another home, and with that, get a $6,500 Tax Credit! That's kind of cool. So now, you get to Sell your Home and get Help getting that New One!!! There are still some guidelines that will need to be followed; however.

To get all of the information and answers to your questions, please click go to the Federal Housing Tax Credit Website. This area will give you the most precise information to your questions.

As Always, if you need assistance buying or selling a home in the San Antonio area I am ready for the call :o)! Good luck and Thanks for Reading!!!

Fannie Mae just announced the Deed For Lease program that will allow qualified homeowners to take a Deed In Lieu of foreclosure and lease back their home for up to one year. Homeowners must qualify in terms of income and any additional liens must be released.

The Deed For Lease program offers homeowners another option to avoid foreclosure when loan modification or forbearance won't work. But, what will the homeowner do if there are additional liens on their property and the lien holders will not agree to release the liens? There's always foreclosure or bankruptcy, but those options may carry heavy credit burdens for the homeowner in the future.

The distressed homeowner in default on more than one lien still needs the option of the short sale to avoid foreclosure. The short sale is an excellent way for the homeowner to get financial relief without the cloud of foreclosure on their credit.

Please enjoy the real estate tip included below. If you have any questions about this tip - or any other tips you may have heard elsewhere - please ask! There is no obligation and you'll hear back quickly!

Real Estate Tip:Mortgage Fears
It is not unusual for home buyers to feel that the lender is being very critical during the loan approval process. The buyer is required to provide all kinds of financial information, and then the lender asks for more. If this is your experience, and the process seems discouraging, remember that none of this is personal!

Some lenders have more stringent requirements than others, but every lender requires a substantial amount of documentation on a mortgage loan. They must verify employment, credit history, and recent financial transactions involving your liquid assets. If your Visa payment was late, they may ask for a letter explaining why. If you are self-employed, they will ask for tax returns from at least three years and probably a year-to-date profit and loss statement.

Government regulations require mortgage companies to document everything. And while the loan officer may know that you are a reliable risk, the underwriters must be able to defend the loan to a federal bank examiner or auditor.

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Don Davis

Thinking of Selling a Home in San Antonio, TX during the Holiday Season and don't know if you should: There are many opinions running rampant about listing a home for sale during the holiday season. And you know how the saying goes, opinions are like......attitudes......everyone has one, (what did you think I was going to say?)!

There are pros and cons to listing and selling a home during the Holiday season in San Antonio and anywhere else for that matter, and if you are thinking of selling, you should be aware of some of them. Some of the cons that you may encounter is that buyers start slowing down. It's just the nature of the beast. During the holiday season people start concentrating on family time, not so much on home buying. Buyers also may be watching their wallets during this time frame.

Another perceived con is that Realtors take off during the holidays and so you won't get the great representation that you deserve. Now, there are some, however, in my case, that is simply not true. In my opinion, (reference above), Realtors are a lot like Soldiers, they work 24/7, 365 a year if necessary.

Already have a home listed? Some Realtors will advise you to take your home off of the market during the Holiday season. Mainly for the reasons listed above. They also may tell you that when you put your house back on the market, it will be refreshed and new for the new season. And while some of this may be true, it is not an absolute in every situation.

Here is the deal. You need to really think about what your goals are initially when you are thinking about selling your home at anytime of the year, not just the holiday season. This is something that you and your Realtor should talk about in depth at the beginning of your listing appointment. If you need to sell your home in San Antonio, I have some good news for you!

Homes do SELL in San Antonio, TX during the holiday season!!! No lies! Just check out the stats below. I did a search of the North East and North Central areas of San Antonio, TX of homes that SOLD during this time last year and as you can see, a total of 250 homes SOLD during that time frame last year! So, what does that tell you?!

There are BUYERS in San Antonio looking for YOUR home during the Holiday Season, or really anytime. So, if you are thinking of SELLING your home at this time, there is HOPE for you! Let me tell you some PROS to listing and SELLING your home in San Antonio, TX during the 2009 Holiday Season.

First-Buyers who are looking to buy a home during this time are SERIOUS about buying a home. They are most likely looking for a home that they will be able to move in quickly.

There are Buyers who only have time to look for Homes during this time frame as this is typically one of the only times of the year they can take time off of work to Look, (if your house isn't there, then.....well, they won't see it).

The holidays leave plenty of opportunity for you to stage your home and set it in the best light! So, when those buyers do come to your home, you can ensure that you give them that comfy Welcome Home feeling!

Here are a few tips that you should be aware of when listing your home for sale during the 2009 Holiday Season in San Antonio, TX.

First, find a Realtor who will work with you and guide you through the process. You should do this at any time of the year you are thinking of selling. Ask your Realtor how available they will be during this time frame and Hold them to it!

Evaluate your reasons for selling. If you need to sell, listing your home during the 2009 Holiday Season is as good as a time as any so you don't miss out on those serious and qualified buyers!

Decorate your home tastefully! You can really set the stage to put your home in the best possible light during this time frame!! Tastefully decorated Christmas Trees or a Menorah on the Fire place give Buyers a feeling of good will and a comfy feeling. The smells of the holiday season are great too! Cinnamon Apple candles or hints, (and I do mean hints), of gingerbread cookie smells also give the buyer the "I'm at Home" feeling.

Don't overdo it however! Now is probably not the time to put every Holiday decoration you own up. You want to enhance your fireplace, not hide it. You want to enhance the yard, not set ALL of your stuff on there. Buyers want to see what they will be getting.

If you need some assistance in listing and Selling your Home in San Antonio, TX during the 2009 Holiday Season or anytime, I would be happy to help!

Have a wonderful Thanksgiving and upcoming Holiday Season and Thanks for Reading!

After weeks of rumors and premature announcements from "industry experts", Congress has finally passed the extension of two important measures for you and everyone you know. Both the House and the Senate have passed an unemployment insurance bill, which includes an amendment that expands and extends the Home Buyer Tax Credit. That bill will be sent to President Obama for his signature in the next day or so. We are certain that he will sign it.

So, why is that important to you?

1. The First-Time Home Buyer Tax Credit ($8,000 TAX FREE CASH) to anyone* who hasn't owned a home in the last three years - extended through (under contract April 30, 2010 - close by July 1). This means if you or someone you know has not owned a home in the last three years (and meets generous maximum income standards) Buys a home, they can get up to $8,000 TAX FREE CASH back from Uncle Sam, either as a Tax Credit or Rebate check. That's equivalent to getting an $11,000 +/- Bonus check from your employer. Over 60% of our Home sales in the last six months have been to First-Time Buyers. It was extended to keep the economy growing and to give relief to a large number of Active duty Military who have been extended in Iraq or Afghanistan who could not make the previous November 30 Deadline.

2. So, if they buy an existing home, where does the current owner move to? Now, under the new program, if you have owned your home for at least 5 of the last 8 years, you may qualify for a $6,500 TAX CREDIT when you sell your old home and buy another. It's a little complicated, so I have attached a chart from the National Association of REALTORS® that lays it out clearly. That helps move everyone up the ladder a little.

So, how do you feel about this? Some of our friends on both sides of the political aisle get exercised over programs like this. We won't argue the politics - there are enough folks doing that already. Choose up sides and have a blast. We choose to be reality-based. The programs exist. They are about to become the law of the land. They will propel home values upward again, interest rates are staying (for the moment) at historic lows, bargains abound, and this is the best time in our lifetime to buy a home - period.

*Unless you make more than $220,000 per year jointly, $110,000 if single, it is unlikely that you will ever have a better shot at getting a foothold in the American Dream than now. If you do make more than that, let's talk about investment properties! J

We are very fortunate that San Antonio remains the #1 most recession-resistant city in the entire USA. Our home values are stable and rising, we have never had the great value plunge that, say parts of California, Nevada and Florida "enjoyed", our job base (both Military and Civilian) is increasing, and it hasn't snowed here since 1985.

If you are thinking about changing your habitat, or if you know someone who might benefit from our services, we always appreciate your referrals. There is no greater compliment. Let us know how we can help you and those you love. Call or e-mail us today, or visit our website: TellEllen.com.