No Surprises Listings

In today's video blog we will talk about how to have a "No Surprises Listing" by providing 3 proactive approaches to getting your home sold. 

What Trends Are We Currently Seeing with Mortgages?

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This is for informational purposes only.  This is not a commitment to lend or an offer to extend credit. All loans are subject to qualification and approval. Not all borrowers will qualify. Other terms and conditions may apply.

Austin Real Estate AgentToday we are very excited to be joined by our preferred lender, Eric Weiss of AmeriPro funding. He has done such a great job of getting our clients the best rates and packages, all while giving world-class customer service. We sat down with him today, and discussed some of the most commonly asked questions about mortgages that we get from our clients. Enjoy!

Q: How long does the loan process usually take?

A: There are 3 different steps. The first one is a pre-qualification, which can be done same day in most cases. From there, the pre-approval process usually takes about 10 business days, and overall if you look at the entire process, including closing, it's around 30 days.

Q: What is the difference between pre-qualification and pre-approval?

A: A pre-qualification is when a loan officer reviews a file and gives you the OK, based on their own opinion. A pre-approval involves underwriting, and is an official stamp of approval to buy a home. A pre-approval is much more official and important.

Q: What trends have you been seeing, as far as interest rates go?

A: Rates have been cooperating, and are continuing to get better. Right now, they are close to all-time lows in the 3-4% range, so it's a great time to buy if you're interested. I think they will be somewhat flat this year going forward.

Q: How much money does somebody need to bring to closing? How much cash do they need?

A: There are a lot of options out there. On a standard conventional or FHA loan, you can do a 3% down program,  and with a USDA transaction, you can still get 100% financing. Although the more you put down, the less money you will have to pay in the long run. For example, if you are able to put 20% down, you can get rid of mortgage insurance on the 

Q: What are the closing costs people typically see?

A: There are lender fees, and 3rd party fees such as credit report, title insurance, and inspection fees. If you're short on closing costs, we can look to finance some of that as well.

Q: What's the difference between a fixed-rate mortgage and an adjustable-rate mortgage (ARM)?

A: A fixed-rate mortgage, your payment will never change for the life of your loan. The only way your payment changes is with taxes and insurance. ARM's usually start with a lower interest rate to start, but then move up. These are common among investment buyers.

Q:  What is the best advice you can give a home seller who is looking at potential offers on their home?

A: Don't be bashful. Contact the person on the pre-qualification or pre-approval letter, and make sure they can execute on the contract and close.

We'd like to thank Eric for joining us today. Hopefully you learned a lot from our conversation, and are able to apply what we talked about here to your next home purchase or sale. If you have any questions at all, feel free to give me a call or send me an email, and I would love to get back to you! You can also reach out to Eric directly at:

Eric Weiss
Residential Mortgage Loan Originator
NMLS# 321475
AmeriPro Funding, Inc.
8300 N Mopac Expy #120
Austin, TX 78759
Cell: 512-913-5384
Company NMLS# 131699

What 3 Things Should You Do Before Selling?

Selling in the Austin area?  Get a market analysis report
 Purchasing in the Austin area? Get full MLS access

Austin Real Estate Agent
Today's topic is something I love to talk about: selling your home. More specifically, we are going to discuss the 3 things you need to do before you even list your home for sale. Here they are:

1. Keep your emotions in check
Many people are unaware of exactly how emotional the process of selling a home can be. Getting into the right mindset is key. You need to detach yourself emotionally from your home and realize that it's a business asset. Once you treat your home sale like a business transaction, you will be freed from the emotional burden that it can put on you.

2. Hire the right agent
Don't just hire a friend, neighbor, or someone you saw an ad for on a park bench. Do your due diligence and interview at least a few different agents to find the best agent for you. Ask them about their past sales, what they know about the area you live in, and their career. Don't be afraid to ask for references, either.

3. Price your home correctly

This is one of the most important aspects of selling your home. You need to make sure your agent explains the market to you and what their strategy on pricing is. Even in the best of markets, if your home is priced too high, it won't sell.

There you have it, 3 great tips for getting started in the home selling process.
If you have any questions for us or would like to talk about selling your home, give us a call or send us an email. We can't wait to hear from you!

What Can We Expect in the Austin Real Estate Market in 2015?

Selling in the Austin area?  Get a market analysis report
 Purchasing in the Austin area? Get full MLS access

Today I'm going to be giving a brief review of what happened in the Austin real estate market in 2014, and I'll also be forecasting what we can expect to see in 2015.

In 2014 we saw:
  • A 2% increase in home sales (27,000 sold)
  • Median home price increased by 8% over 2013 to $242,500 dollars
  • Average home price increased by 7% to $309,000
  • The average days on market decreased by 3%, placing it at 43 days
In 2015 we can expect property values to rise and inventory to stay tight, but the buyer demand will still be here. We have nearly 150 people a day moving to Austin, and that is going to generate quite a buzz in this market in 2015 and beyond. If you want to sell your home, it should not take very long on this market as long as it's presented well and marketed to the right buyers.

With this being said, please feel free to contact our team if you want to sell your home in Austin. We pride ourselves on strong presentation and great marketing. We would love to assist you!