Dave Graham’s Blog

This is great news. The Government program for offering a huge tax credit for 1st time home buyers has been extended and now they have added an incentive for homeowners who buy another home. Here are more of the details of the newests Stimulas program.

Extended Tax Credit for HomeBuyers and Homeowners

By Phoebe Chongchua

November 13, 2009

The popular first-time homebuyer tax credit that was scheduled to end this month is being extended. President Obama signed a bill that extends the up to $8,000 tax credit for first-time homebuyers for seven months. An additional incentive for the housing industry is for homeowners. The $6,500 tax credit will benefit some existing homeowners who are also buyers and whose primary residence has been owned, used, sold, or being sold within at least five consecutive years of the previous eight years. The legislation is part of a bill that also extends unemployment benefits.

Bruce Walker, Director of Marketing, RealEstate.com Reportedly, the credit would be available for people earning up to $125,000 a year and couples making up to $225,000 per year. This is an increase from the current income limits of $75,000 and $150,000, respectively. The extension of the first-time homebuyer credit lasts through June of next year. Buyers must sign a contract by the end of April 2010.

The incentives come at a good time for the housing industry. “We’re getting into a historically slow time of year. You have the holidays and folks just aren’t in the market to buy a home. I think now, you’re going see a little bit more interest and we may see some upticks through the end of the year that could carry some momentum into the first part of the year which is traditionally the heaviest homebuying season,” says Walker.

He believes these incentives will not only cause more homes to sell but will also have an impact on related industries. “I think one of the areas that will get a secondary benefit is going to be the home improvement industry. When someone buys a home they will often put additional work into it to make it their own. They’ll paint, put up wallpaper, and hang current rods. They may clean floors — so that home improvement sector is going to see, I believe, a secondary lift as well,” explains Walker. What this means to consumers? “When they see that home prices have dropped, there’s going to be fear in the market and people are going to wait to see other people get involved — get back into the market. So, as consumers are pushed off the fence with these incentives I think we will see a strengthening of the housing market as a direct result and people are going to get re-engaged,” says Walker.

But some wonder are the incentives a risk that will cause homeowners to later default? “People have been skeptical of the economy for the last year or longer,” says Walker.

Economists with the National Association of Realtors estimate that approximately 2 million people will take advantage of the tax credit this year.

Copyright © 2009 Realty Times. All Rights Reserved.

     Here is this weeks report of what’s happening in the real estate market in Georgetown, Sun City Texas and Round Rock. You might want to compare this weeks report with the last one posted prior to get an idea of what is happening week by week, as well as for the last 30 days. Just some of my rambling thoughts, the number of active available listings went down this week and for the month in all areas, and the number of Sold listings went up this week from the last report. They report on the national scene that sales have increased, I guess it’s time for us to see the same improvement.

     With interest rates still hovering around 5%, and with the Government still passing out checks for $8,000 to buyers who haven’t owned a home in the past three years, maybe it’s a good time to be a buyer. I see some real good deals on homes in our area. Prices today that are thousands less than the prices of 6 months ago should give any buyer the go ahead to get ready to buy. Will we see prices go up any time soon? No one knows for sure, but with 1,000 people moving to Texas EVERY DAY, they have to live somewhere, and if the number of Active Listings start to DROP, and the number of Sales slowly increase, well, don’t be left out of this Buyers Market. Here is this weeks report.

30 day report gtn and rr report.pdf

     I just received this list from a dear friend, Jacque Smith from Independence Title, Maybe a day trip to one of these towns would be interesting. How would you like to live in one of these towns? Let’s have a poll as to where everyone would rather live. Go ahead and post a comment to this blog with your pick as the best town on this list to live.

Relocating to Texas? Thought you would enjoy this. Here’s a list of actual places to travel to in Texas.Need to be cheered up?
Happy, Texas 79042
Pep, Texas 79353
Smiley, Texas 78159
Paradise, Texas 76073
Rainbow, Texas 76077
Sweet Home , Texas 77987
Comfort, Texas 78013
Friendship, Texas 76530

       I would like you to watch my video showing 4 examples of homes for sale under $150,000 in Sun City Texas. There are currently 30 homes for sale under $150,000, and 18 of those are under $140,000. I will take you on a narrated video tour of these 4 homes, but if you would like to learn more or see pictures of different floor plans or models, just send me a quick note

    This weeks video we will see two Angelina models, one Maverick and one Bluebonnet. Next week I plan to feature four homes that are larger homes, over 2,200 square feet. So sit back, put your feet up, and enjoy the show.

Sun City Texas Homes For Sale Under $150,000

    I just read a great article written by Chad Thomas, the City Beat writer for the Williamson County Sun, that gives one more reason why Williamson County, and Georgetown in particular are great places to live and work. I have asked Chad to send me a PDF copy of the article and I will post it in it’s entirety when I get it, but here are some of the points he wrote about.

     “Several signs seem to indicate Georgetown may be coming out of an economic slump that slowed spending and development for months starting last fall.”

    “For the third month in a row Georgetown has seen sales tax revenues almost identical to those seen a year ago and even saw revenues increase by 1.44 percent to the city’s general fund in the most recent allocation from the state.”

     Chad goes on to explain how Georgetown success is from a draw to shoppers and visitors from out of town (and state) spending money in our town. He also talks about an increase in building permits and how that effects our tax income. He quotes Georgetown’s Finance Director Micki Rundell who says “I think we’ve got more stability - and having a large retirement population helps that,” she said, “I think I’d rather be in Georgetown than anywhere else.”

     Anyone who lives in Georgetown already knows it’s the best place to live, and it looks like allot of ‘out of towner’s’ are learning about us, as there has been a huge increase in my out of town requests for Georgetown Real Estate info to be sent out. I also think that our City leaders have done a fantastic job of keeping Georgetown the way we want it, a small town feel but with managed growth.

     If you know someone who is considering a move to Texas, pass my name and blog info on to them so they can find out what we already know, “Georgetown is our home and we love living here.”

Here are the numbers from our MLS here in the Georgetown, Round Rock and Sun City Texas areas.

Notes:   Georgetown figures do not include Sun City

               Report information from 6/20/2009 to 7/20/2009

               DOM equals Days on the Market

 If you would like to see the same information for your paticular neighborhood, please respond with a comment and I will send it along to you. Have a great week. Dave

I have been asked by prospects for more info about the different models and floor plans of the Sun City Texas homes for sale, so what I will attempt to do is do a weekly narrated video tour of 4 or 5 different models of homes for sale. I will need to keep them to just a few minutes each, and will be able to send you further pictures or video of any you have interest in.

So sit back and enjoy this weeks tour of four homes. First is a Sequin model, second is a Long model, and the third and forth are both San Marcos floor plans. Let me know if there are models/floor plans you would like to see in an upcoming weekly video tour. Just give me your comments below.

 Enjoy the show! Read the rest of this entry »

      Do you need another reason why you should live in Georgetown Texas? I spent about 6 hours this week volunteering at the Caring Place in Georgetown, and as always, I come home with a warm feeling in my heart.

     Monday my Wife, our two kids and I got up early to help pass out food at the Caring Place. You get there by 8 am, and there are already cars starting to line up out front on the street for the Fresh Food for Families, a partnership program with the Capital Area Food Bank, that is offered the 1st, 3rd and 5th Monday of each month. The first hour is spent taking the fruit and vegetables that come from the Food Bank, in big bulk bags, and separate them into individual 5 pound bags. You have no idea how big a job it is to take approximately 6000-8000 pounds of fresh apples, carrots and onions, estimate 5 pounds, and bag them so each recipient gets a bag of each item……it is a huge job. Then we put one bag each of the fruit and vegies, along with a couple items of bread, into a box, so when the line of cars start pulling in around 9 am, we can just put the boxes of the food in the cars as they drive around.

     Once the food is sorted, they begin having the cars, that now circle down and around about three blocks, to pull through the drive, and as they come through, we would place the boxes of food in their cars, and then we would exchange thank you’s. After about an hour or so, the line of cars ends, and we have served around 300 families, all Georgetown residents.

     My Wife and I home school our kids, so this was a valuable educational experience, as well as a wonderful personal experience to help those who just need a break in life.

     Then on Thursday, I drove the Caring Place truck, that goes out and picks up the donations from those with large items that cannot drop them off themselves at the Caring Place. I try to do this a couple of times a month, because it is allot of fun meeting the people and seeing what great items they are donating to the Caring Place. A typical day of driving will take us to 8 to 10 stops, and always takes us to Sun City where the residents have lots of great items, and they are the most generous of folks that I have met.

     After picking up and taking back a truck load of donations to the Caring Place, it’s like a kid at Christmas with everyone coming out to look at what new ‘Goodies’ we brought back. And this repeats itself, usually 4-5 times each week as the truck is out retrieving items that will end up in the retail store for sale at the Caring Place.

     If you have never stopped at the Caring Place in Georgetown, to see the operation, you will be amazed. Not only is there a large retail store with an inventory that changes allmost daily, but there is the Client Services area where someone who lives in the Georgetown area, that needs assistance or temporary help, can feel comfortable with people who really care about them. The greatest thing about the Caring Place, is with all of the donations and the sale of items from the retail store, the proceeds go to help our fellow Georgetown folks who can just use a break in life.

     I cannot help but feel so good after the few short hours that I can spend volunteering at the Caring Place. With over 300 volunteers who help and the donations and the retail store sales giving assistance and hope for so many, the Caring Place lives up to its name of the Place where people Care. Visit the store, or if you want more information, visit their web site, http://www.caringplacegeorgetown.com/

     There you have it, just one more great reason why living in Georgetown Texas is the best. If you care about helping your neighbors, or are just looking for a great deal at the Fabulous Finds retail store, check out the Caring Place Georgetown. And tell them, Dave Graham sent you. For more information about living in Georgetown Texas, visit my web site, www.GeorgetownTxOnline.com

     Wow, has the nightly news put fear in your future Real Estate plans? I’m in the Real Estate industry as my profession and if I didn’t know any better, I would be scared to make a move now myself, but fortunately I see a much different overall picture of the Real Estate Market here in Central Texas.

     Yesterday, I went to the monthly County Courthouse Foreclosure Auction here in Williamson County. Normally the Trustee’s for the Mortgage Companies would have anywhere from 170 - 200 addresses on the list of foreclosed upon homes, and because quite a few of the homeowners find a way to stall or cancel the Courthouse sale in one way or another, they would auction between 60 to 80 properties each month.  Now when I say they auction them, the Trustee that is holding the auction announces the description of the property, the Mortgage Company that is offering it, and what that Mortgage company has placed as a minimum bid on the property. Once that has been established, and that figure is an unknown prior to the auction, the buyers or investors in most cases determine whether or not biding at least one dollar more than the minimum bid is a good deal or not. In my visits to the monthly foreclosure auction since moving here the beginning of 2007, I have seen where typically the investors/buyers will only bid or buy 15-20% of the available properties auctioned that day. The rest end up going back to the banks as REO’s.

     Here is what happened this months foreclosure auction.

     First of all, there were only about 140 properties on the lists of homes in the foreclosure process, and out of that there were about 40 that were attempted to be auctioned. The one Trustee who generally has the majority of the houses on the list, only had 29 properties that he was placing up for sale. Out of this, he only had two, yes 2 properties that investors successfully bid over the low minimum price set by the lenders. The rest, the different Mortgage companies now own and will attempt to sell themselves as REO or Real Estate Owned by a bank.

      OK, so after all of this, what does this mean in my humble opinion? First of all, there is fewer property going to the foreclosure process in our area. Second, the banks have not decided it’s time to fire sale the problem property they get back in the foreclosure process, as they feel they can successfully market them and sell them, and possibly not lose as much on them, rather than selling them short at the courthouse steps.

     So what does all of this have to do with the Real Estate Market where you live? Except in some very difficult markets, the majority of the US Real Estate market is not near as bad as what the media would like us to believe. Now I’m not saying that in areas like Detroit Michigan or Las Vegas or some areas of California are not experiencing a housing downturn, but overall, the industry is healthy. In fact, my family went back to the Los Angeles area where we previously lived, the South Bay area of LA County, and what I saw and heard from the REALTORS there, is yes it takes a little longer time on the market, and yes the number of homes sold is down, a little,  but THE PRICES ARE UP FROM A YEAR AGO! And that was up from the year before and so on and so on.

     What the media forgets to include in their gloomy articles, is today we are seeing nothing more than a correction of the housing market. In the Austin Texas area where I’m sitting today, the 2007 numbers of houses sold are off slightly from the record year of 2006, but when you look at the numbers from 2005 and prior, this years sales are far ahead of that pace. And in most every neighborhood, the prices have increased even from last years numbers. To see the numbers yourself, go to the Real Estate Center at Texas A&M University website. http://recenter.tamu.edu/ 

     Now I know some of you are going to turn on the nightly news tonight, and most likely there will be a news clip about the woes of the Real Estate market. What I want you to do is turn down the sound, go log on to my web site, http://www.GeorgetownTxOnline.com/ and take a look at the good news section. Heck, if you want to know the weather forecast, you can get it there as well. But as they say in Texas, if you don’t like the weather, wait a few minutes and it will change. Same goes with the Real Estate Market, where ever you live.

Welcome to Dave Graham’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in georgetown.