Friday, February 17, 2012

Hill Country with your own backyard of Paradise (6.5 Acres)



Instant Equity! Appraised August of 2011 for $570K.  Enjoy the Hill Country with your own backyard of Paradise +/-6.5 acres, electric gate, partially fenced, pool & 3500 sqft deck on three levels, outdoor lighting.


This beautiful metal frame rock exterior home has 4 bdrms/study/ 3 1/2 baths/media rm w/home theater system, speakers & room for entertaining. Masterbdrm & closet under contruction & being enlarged. Spacious living w/very high ceilings & a rock fireplace. 30X50 Metal workshop.

Monday, February 13, 2012

Monday Market Update :: What's going on with Greece...



With little US economic news this week, investors focused most of their attention on Europe, where Greece is attempting to avoid a debt default. A lack of progress in Greece late in the week caused a minor flight to safety, and mortgage rates ended slightly lower than last week.

For most of the week, it appeared that Greek officials were on track to deliver a package of austerity measures required for Greece to receive additional aid. The negotiations took an unexpected step backward on Friday, however, as Greek political leaders agreed on an austerity package on Thursday, but European Union (EU) officials stated that Greece will not receive additional aid until the Greek Parliament passes the package. Given the resistance among the Greek people, this is not a sure thing, and it extends the uncertainty about whether Greece will be able to avoid a debt default. As a result, investors shifted to relatively safer assets, including US mortgage-backed securities (MBS), which helped mortgage rates and hurt stocks.

In a light week for US economic data, the Jobless Claims report stood out. Weekly Jobless Claims unexpectedly dropped to 358K. Following several years of readings consistently above 400K, weekly claims have been mostly under 400K over the last couple of months. In the past, readings in this range have been consistent with an improving labor market. In January, the Unemployment Rate dropped to the lowest level since February 2009, and the recent Jobless Claims reports provide additional evidence that the labor market is moving in the right direction.

The most significant economic data next week will be the monthly inflation reports. The Producer Price Index (PPI) focuses on the increase in prices of "intermediate" goods used by companies to produce finished products and will come out on Thursday. The Consumer Price Index (CPI), the most closely watched monthly inflation report, will come out on Friday. CPI looks at the price change for those finished goods which are sold to consumers. In addition, Retail Sales will be released on Tuesday. Retail Sales account for about 70% of economic activity. Industrial Production, another important indicator of economic growth, will come out on Wednesday, along with the detailed FOMC Minutes from the January 25 Fed meeting. Housing Starts will be released on Thursday. Import Prices, Philly Fed and Empire State will round out the schedule.
Copyright @ 2012 MBSQuoteline

Sunday, February 12, 2012

Banks pay delinquent borrowers $35,000 to sell their homes!!

The bank offered Angelique Pierce $25,000 to short sell her home. The listing price: $95,000

In an effort to cut their losses, banks are paying some struggling homeowners as much as $35,000 to sell their homes before they end up in foreclosure.

The deals are aimed at incentivizing homeowners who owe more on their home than it is worth and who are seriously delinquent on their payments to sell their homes in a short sale.
In short sales, homes are sold for less than what is owed and the bank forgives the excess debt. Banks have been reluctant to approve such deals in the past -- since they take a loss on the home -- but in certain cases, it's become a much better proposition than letting the homeowner fall into foreclosure.
This new approach by the banks has startled plenty of homeowners, according to Elizabeth Weintraub, a Sacramento-area real estate agent who specializes in short sales.

"Initially, the homeowners are skeptical," she said. "The bank may have already turned down their request for a modification. Then, one day, they call and say, 'Let us give you some cash.'"

When Chase Mortgage (JPM, Fortune 500) told Angelique Pierce, that she would receive a check for $25,000 if she sold her house, she couldn't believe it.

"I got the offer in the mail," said the Rancho Cordova, Calif. resident. "I called my bank to ask if it was real."

After Pierce became disabled a few years ago and had to stop working work, she fell behind on payments on both her first and second mortgages, valued at $250,000 and $50,000, respectively.

Now, she's trying to sell her three-bedroom ranch for just $95,000 -- almost half of the $179,000 she paid for the place in late 2002.

Foreclosure free ride: 3 years, no payments

From the bank's point of view, the offers make sense, according to Tom Kelly, a spokesman for Chase Mortgage, who would not comment on Pierce or other individual cases. "The first choice is a modification but if that's impossible than a short sale is a faster, more efficient solution," he said.
For the banks, foreclosure has become an increasingly difficult and expensive option. Homeowners have learned to fight the banks tooth and nail, dragging out cases for years.

And as the cases drag, expenses grow. Homeowners not only stop paying their mortgages but they stop paying property taxes and conducting normal maintenance as well. Roofs, siding, plumbing and other parts of the home deteriorate and the property loses value. By the time banks take possession, they're out tens of thousands of dollars.

Foreclosures: America's hardest hit neighborhoods

"I've seen a lot of foreclosures for sale where it would cost a lot more than $20,000 to get them into condition to sell again," said John Hayton, a short sale specialist in Orlando, Fla, who has had a number of clients receive offers from the banks.

Short sales also command higher prices than foreclosed homes. In December, foreclosed properties sold for an average of 22% less than conventional sales, while the discount for short sales was only 14%, according to the National Association of Realtors.

All that has been true for years, but it is only lately that these outsized incentives, which Bloomberg recently reported on, have surfaced.

Sellers are more cooperative when they're going to receive a five-figure check for their troubles.
Nick Chaconas, an agent with discount broker Redfin, wondered why one seller was so anxious to sell their home. "Since I represent the buyer, I didn't even know about the incentive until the closing," he said.

It turned out that the seller's bank was writing her a check for $30,000.
Whether sellers can expect incentives from their banks depends on multiple factors, including where they live.

Wells Fargo (WFC, Fortune 500) limits its offers to certain states, such as Florida, where the foreclosure process can be lengthy, according to spokeswoman Veronica Clemons. The bank has paid $10,000 to $20,000 to borrowers who short sell or transfer their title to Wells via a deed-in-lieu.

What the foreclosure settlement means for you

Bank of America (BAC, Fortune 500) had a pilot program in Florida that paid incentives of $5,000 to $20,000 for sales that were initiated between Sept. 26, 2011 and Nov. 30, 2011 and close by the end of this August. The amount of the incentive is based on 5% of the unpaid balance, with a $5,000 minimum and $20,000 maximum.

Jumana Bauwens, Bank of America's spokeswoman, called it a "test-and-run program" that may be expanded to other states.

The offers are not always a panacea for homeowners struggling to pay the bills, however.
Pierce, for example, has not been able to make hers pay off. She had a buyer but her second mortgage holder refused to go along with the deal unless it got a share of the $25,000 she was being offered by the bank. She said that the bank balked at the deal and the sale was cancelled.
She's looking for another buyer, but it's up in the air if Chase will honor its original offer if the second mortgage holder won't cooperate. To top of page


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@CNNMoney

Thursday, February 9, 2012

Spacious living in Shavano Park

An external view of the front of the tree-lined, landscaped property. Photo: Realtor.com / SA

Located in Shavano Creek in Bexar County, this home is situated on just under an acre of tree-lined, landscaped property.

A more expansive look at the kitchen, highlighting the stove, ovens and center island. Photo: Realtor.com / SA

The two-story home provides 6,108 square feet of living space and offers five bedrooms and six bathrooms. The eat-in kitchen features granite countertops, custom cabinetry, a double oven and a gas cook-top island. Other key areas of the house include a formal living room with fireplace, dining room, family room with brick fireplace, bar, game room, powder room and a study/library.

Outside amenities of the property include an in-ground pool with waterfall, spa, a pool-convenient bathroom accessible via the powder room, covered patio and grill area, and a three-car garage.

Another look at the back yard of the property, spotlighting the swimming pool and patio. Photo: Realtor.com / SA

Call us today to schedule a private showing.




Listing agent: Missy Stagers, Coldwell Banker: D'Ann Harper,

Monday, February 6, 2012

Starbucks coffee: now served in cargo containers


A Starbucks made from shipping containers. <i>All photos courtesy of Tom Ackerman, Starbucks.</i>


Retailer converts shipping containers into shop space....Something we will see in San Antonio soon?


You've heard the popular refrain that Starbucks is everywhere. There may be some truth to that -- the massive coffee retailer has even set up shop in a shipping container.

The now-one-of-a-kind drive-thru/walk-up Starbucks coffee outlet off Interstate 5 in Tukwila, Wash., which opened Dec. 13, is constructed from four modified shipping containers, including one 20-foot container and three 40-foot containers.

And while novel for Starbucks -- this is the company's first foray into a trend gathering momentum for shipping container constructions, but perhaps not the last -- other stores built from shipping containers include a grocery in Seattle and a series of restaurants in San Francisco.

Spokesman Alan Hilowitz described the Tukwila store as another step in fulfilling Starbucks' core mission -- providing a gathering place for communities, using Starbucks' scale "for good," and reducing the corporation's carbon footprint -- while also recycling "the same kind of shipping containers that transport our coffees and teas around the world."

Tony Gale III, Starbucks' corporate architect and architect of record for the project, described the mindset with which he and his team tackled the store's design. "We were able to open our minds to the use of very common elements destined for the landfill as structure for a high-quality, drive-thru coffeehouse design -- essentially creating an industrial beacon for sustainable thinking."

This reflects Starbucks' focus on conservation-minded building initiatives that serve a dual purpose: helping to reduce operating costs and leading by example to push "the environmental design envelope in retail."

With many containers scrapped at the end of an average lifespan of 20 years, the Starbucks solution served to convert a potential waste stream from the company's supply chain into shop space.



This Tukwila store is also the first LEED-certified structure in town. It uses fully reclaimed material for the exterior. Rainwater collected from the roof reduces water consumption and nourishes surrounding "xeriscaping" -- landscapes and plants that naturally require less water.
Even the signage promotes environmental consciousness.

While this is not Starbucks' only drive-thru/walk-up store, it is rare among the company's 17,000 stores worldwide in that it offers no inside seating. Hilowitz said the prototype is easy to break down and transport, and may usher in more container stores.

"We can put a store like this on a lot that will be developed someday but is free for two or three years, and then we can move it."

Architect Tony Gale III says fast-moving baristas are Starbucks' solution to limit customers idling their cars as they await their "cup of morning joe." Already, between one-third to one-half of Starbucks stores have a drive-thru window.

The company's next goal in sustainable thinking: By 2015, it intends to make 100 percent of its cups reusable or recyclable.




Susan Galleymore

Friday, February 3, 2012

Confidence Among U.S. Homebuilders Highest Since 2007

U.S. Homebuilders Confidence Highest Since ’07


Confidence among U.S. homebuilders rose in January to the highest level in more than four years as sales and buyer traffic improved.
The National Association of Home Builders/Wells Fargo sentiment gauge increased to 25 this month, exceeding the median forecast of economists surveyed by Bloomberg News and reaching the highest level since June 2007, the Washington-based group said today. Readings lower than 50 mean more respondents still said conditions were poor.

By Alex Kowalski

Wednesday, February 1, 2012

San Antonio Spurs - What a Game!!

Spurs Rally Past Rockets




D. Clarke Evans/NBAE/Getty Images
Tim Duncan scored 25 points, Tony Parker added 24, and the Spurs battled back from a 13-point halftime deficit to beat the Rockets 99-91 in San Antonio on Wednesday night. Gary Neal had 15 points off the bench.
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Just goes to show you...never give up! 
If you feel like giving up on your dream of home ownership - don't!   The TRG will assist you with all aspects of your home purchase from start to finish.  We are here to help you and your family find the Perfect Home at the Best Price. 
Purchase with us and we will buy you and a guest tickets to see our next home game with the San Antonio Spurs!