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KJCE 1370AM>Audio on Demand>>House Talk Radio Podcast 2/23/14

House Talk Radio Podcast 2/23/14

Feb 23, 2014|

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Automatically Generated Transcript (may not be 100% accurate)

An Austin -- -- top -- since 2001 John -- get healthy quickly determine the best -- -- to compliment your long term financial -- joined John and -- talk radio every Sunday from five to 6 PM here on -- thirteen seventy Johnson number one goal is to provide -- with a smooth and predictable mortgage experiences tuning in right here on -- thirteen seventy every Sunday from five to 6 PM the -- you see -- talk radio providing you with a -- and predictable -- experience -- talk radio every Sunday from five to 6 PM only on top thirteen seventy. And MLS number 20854 -- Sunday central Texas get ready for the latest real estate and mortgage news. Tell -- talk radio. Jon shoots and and jolt Douglas. Dan thanks for listening time -- talk radio it is Sunday that Edwards point third and we're live at five here. On talk -- thirteen seventy. To show covers -- real state. News and we answer your question about the market I'm John -- zillow mortgage banker. With supreme lending and joining me today -- my co -- and real estate -- -- but what's with Douglas residential. Welcome -- And thank you John. So. What we love. About our show is that these topics to recover they were -- they are all real -- related and their issues that are facing. All of our clients most of the talks that we -- that we bring up for interesting and very relevant to. Calm spokes that are involved in. In in real -- right now. Well real estate is is hopping. -- in Toronto market right now so we feel questions every day from buyers and sellers like you and we do written this shows designed to you share those stories and we want. Our car audience to feel comfortable called in to we have of a phone number here to direct this -- down. It's I've won two arena and no thirteen seven that's 5123. And a note thirteen seven -- spies on FaceBook and we are. Live were checking FaceBook here so spokesman post stuff on house talk radio. We will respond. We are also all iTunes writings asserts John sheets here -- but this house talk radio you on this front past shows there. Including without special guests on in some very relevant topic. On that note it's. -- about -- for -- is we really want to provide you with actionable knowledge. We're not just after talking we wanna give you knowledge that helps you make an informed decision today. You know -- Your your show today my commercial was -- run -- there -- -- -- going on on Aaron talked about you know how. The few words they use our smooth predictable I wanna provide a smooth so today. The work today is going to be smooth which is why I Wear my shades honored at -- Kimberly you're doing -- now. I think -- got some perhaps vicious and audio over here it is too nice outside health and Texas not a word shape threat. It's beautiful day it's -- and you know it's -- -- -- cold come Tuesday Wednesday. Tuesday Wednesday were going to be back down into your cold weather well I do -- -- the show -- got some sort of related topics that we have an amazing guests to come and show and with tax season. Right around the corner if I ever felt that it was really relevant to bring on. An expert CPA to you discover some of the basics. Tax questions that. Com people ask me and I always have to have -- to see Dixon don't really give the wrong answer so we've got Ingrid Edwards on the show today. That will be out. Given our audience. This little tidbits of a tax tips so tune in to -- -- she's to becoming launched the show here in about five to ten minutes. I'm -- regard header on that same thing at this upcoming year in this questions. You know somewhat related is if you bought a house classrooms weapons and there. Well -- homestead exemption and if it's your prior residents who wanted to debt now's the time to do it ended up so I think April 1. So mature while on Parker house last year in 2013. Through till I got some -- run by. So. Running through the paper today in the states and something came up -- it reminded me of some advice you gave me. -- kind of one of those. You were given me and I told you so moment not to long ago. And what I'm talking about it it's a hoax by a house. Very off and they wanted to work -- pure accident. There's something they wanna do sometimes those products can be fairly tonic at the -- model or remodel. Retirement single struck a -- landscaping project -- paint touch up we talk about I'm talking some some little more significant. Maybe changing the configuration the house. -- an investment. -- -- -- -- deviates maybe it's to submit it landscape you're changing the shape of the are more pool from. -- -- and that's how circle back to you and me because. I remember. I bought a house last year. And before we close and house we have a hundred Roberts -- I remember that and I remember you saying the worsening probably will not let me -- -- not a ton but at least a hundred. Try to fix you have to remember is a lot yeah that -- I was atlas was very long I have -- -- yeah so I remember you saying to me. You -- Live in the house who was different you'll worry it make sure that project is really as important as you think it is who. Had it help to really help because I near that list down. Two if you keep Prague except -- -- really needed to do and kind of laid off of your thinking you know actually right after we live in the console while. I think that. You know wolf we may or may not side that was important -- awards. Well I think what do you think every -- I think -- that -- that the general. Advice even though not everybody takes it may think that Europe would fit that bill. -- live in your living your house for a good. Three to six months at a minimum before you decide to do any big project. And the reason being is you just don't know I mean unless you have a just unlimited money to commute every once you really don't know old. What's important I mean going into the house -- seen the house. Handful of times a year and a contract approach the housekeeping. Talking about your -- with your wife -- would be great if we can move this wall and add this and move this over here. Until you get actually how she do we know. How you're gonna live and our deficit. Wait just exercise some patience right. Take a breath take a breath. That's right roughly right in fact I'm one of those Big Brother some waited. Able to pool and the what we originally thought you're gonna build the shape of where it was located in. We're gonna have a patio -- Sharon Jack. Completely change up who lived in there and had and we're able to kind of sit on the back porch for a few days and envision where we want to -- -- that we hired a contract before closing Marie had lived there. I really think it would have been a completely different designer and I don't who have been as happy about and that's really the bottom line is. Definitely something through net income and use that money towards one product you really should have used remote or something else are more pressing threat -- Well for our listeners out there -- you have are our tax us for coming on give us -- call. And must have given tax. Russians shall we happen against them on air war even after the show or you know even later on the segmentation -- shook the whole time. Will happily address the questions and now Billy back to your phone or here's 51239. No thirteen seven it's 5123 and -- know. Thirteen. Seventy. For a -- quick break I have this give one big shout out to clients. That have been an amazing story again this is now like the tenth -- this is haven't pour. For young Jamie and Adam. Can I don't know if you're involved in this and on the Amylin side of this but. They bought and this is now happening. I don't know -- a little commitment to client in for five months that are buying -- sight unseen. And we they're living in a different city or different state. And we go under contract. Before they didn't see it and and they make the trip here see it in in -- yes this is house they want by. -- crazy that that that folks are doing this right now but this is the state of our market so how fast. Things are moving net folks have to have to make a decision on hospital market if they're not living here -- be prepared. -- to -- decision. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- You -- and you guys are tuning in today taken here hellish. Yes well so you cancellations just this week. Last I was on Monday house at the market and an agent called me. At about 1 o'clock and said this house at the market noon I called my clients immediately we got the car we draw over here at 1 o'clock. We are writing -- -- right now I needed happening is some some day different Indian news you know how much the closing costs were put in the contract commitment to close and three weeks which is a fairly short time -- which. We can do it's no problem and help them and -- like were -- this before. Anybody to get here we're the first ones here right this offer. They get so hot the market is in the in the upper body in that day you are received several other backup offers both. We had a bit of women's hats -- -- that agent for pushing and pushing it through me who have talked agents always -- shelter deficit and it's tough tough reality live with western -- that you have to be. It's almost like -- Doctor on call. I mean -- -- -- -- -- -- mark you are round you know -- never shoring up US have a tough job well -- a short windows we have to take a short break. Even -- house talk radio. Get ready for the latest real estate and mortgage news. Else talk radio John cheap seat. Enjoy old Douglas. And we are back you'll see house talk radio with John in -- And we are live at five. Our youth when -- and we have audio problems. I think south anyway -- all right well -- what role that so so we had a very special guest on the show today. His finger at him are you with us right now. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Local CPA she's. Amazing. I can be personal referral for her and we have her on the show to talk about so. Taxing. All the -- be it be an advocate for. What you should do your taxes first off and secondly what are scum who for the what are some of the the things that homeowners. Should think about when it comes to taxis and so Ingrid thank you so much for coming today. How I -- and I think I would just like to start maybe they just come on misconceptions. There I would love to hear. Definitely got to think I -- -- all the parent. And questions like is insurance homeowners insurance connector right right now are. -- -- -- association du -- people and now unfortunately those things are not. Really it comes to -- com the biggest benefit aren't actually finished mortgage interest and real estate -- And that's just is that just for homeowners or is that also if I'm an investor in -- house. Properties unified and you know homeowner's insurance my property and I got a show ladies and I think as an investor -- analysts. If you have a rental property mono rental property you've got to keep up -- a whole bunch of expensive because you I have commission advertising cost. We make an ranch. And -- insurance your homeowners and -- began a rental properties dose would be deductible. So what if my rental properties in Hawaii tiger travel and see it. -- -- this is for Alcatel I want here and that's good exit -- of as a business -- with. Regal. Animal. Well rental property isn't really I think really good option I'm. Do regularly but slept in the stock market then I have medical science that I've seen actually rental properties over the years. And it worked well even though there -- -- euros stood because there's the -- you know and federal levels the rental income considered -- So unless you have a depression can come to a certain that you might not be able to do that about a loss but in -- long run actually it's still a good. It -- and I think that's a good thing to do because you know losing that the losses are staying and they are suspended. And that the time the property turns and makes him down. It it will also add to those old lawsuits or if you show the property -- you -- -- colossus just ordinary loss -- show. There's advantages -- advantages to only -- on the property. Do you find that there are so -- folks out there that should not own investment property -- they came to emulating him about a -- you know. -- You think if you want to mark their kids. Don't want to put up but get good people that Iranian program -- love what could be a good thing to do but I think. You know there's a lot of management companies out there that are -- too cheap. The only title property that it deductions that I -- this state and in the end of the year. And that makes the tax preparation raising. That's very passive from -- -- what we do not tell it is FC crazy come January as we produce. Are in your statements for our. The price that we manage its Christmas is chaotic trying to put it all together I think that that. I can imagine -- homeowners who treat to have like eight in investment as they try to do by themselves so -- always pays I think -- arsenal's manager for you to take attic away. Yes and you know but the rental property. At the expense is are usually very. Same from here cute cheery honest I -- -- increase your realistic fact meg utility. Insurance. So those are expenses usually they are one clear easy to look up. But. There is you know somebody got -- -- but it's so I think if you cannot do it I don't feel like you can -- -- -- If you can find somebody who could well be out of management company and that's got a better way to go. Is there a difference for Frankfurt with with how you deduct. -- yeah or itemized expenses on on on investment properties. If it's -- repair vs improvement. Yes there is fit Dujail I think kind of looked damage if it's from -- make and and you know liable -- laws. -- the break she'd actually shape you can expend those rhetorical repair expense which I think it's something major like get putting on -- front. On -- property. Building walls staring down also anxiously -- the whole thing now and that's definitely capital improvement. And that is not tax deductible. Add extra because they don't property. Rather than generate you know ordinary deduction -- any reaction to have the expense. But again even if you -- for the cost of the property. And ensuring you -- -- property that reduces. The game that you had on there. So let's just say there's this guy out there who bought this one rental property. And he decided to remove their counter tops put down granite. And also replaced all the appliances. Just to have a nicer property that would reform for more money it's not a guy that's talking greater now but let's -- a guy out there so in that case. These types of him is that. Is it is it could be justifiable that the appliances. Which were really bad shape and the need to be replaced but maybe not necessarily with. You know -- are still steal. Little bells and whistles but if that's if there were updated with stainless steel and the carrot tops which. Maybe did not need to have. They update agreement but got it could is her way to use those. I kind of what that very you know the other girls are always tricky -- -- things. And I think let's say in an apartment complex -- thirty. OK and you've got to replace the card fees apply and team. We're very often. That's almost regular maintenance in that case I would say you have ordinary expects. -- you have to salon -- stand along property. Only that I have to replace -- as science isn't targeting. I think in that case there's more of our argument attraction of the capital improvement and should be capitalized. Rather than expense. -- -- But that -- -- the net of the story is you mean I get the tax deduction amount distinct it just increased your cost basis so that at what ever -- decide to sell. You yes and you know our clients Susan carpeting and you can write off for over seven years and of course is they go out before you know we get to read especially that -- when -- -- -- relate to. I try to put in my Croatia landing three years it's no good. Then even though it's. For our services and the it has seven years slot in your life after three years if it goes it goes so -- -- -- -- -- you'd get to wrap up Tressel accomplished. I just so -- I went askew so. A very common. Argument for owning a home is that you can run off the mortgage Anderson property taxes. Isn't it true though that. You don't always get to run off -- -- percent of those because. Well he made those have to meet the standard deduction may have to be. More than standard right right to -- did a certain amount -- write offs with the standard deduction. Yeah. So the marriage and this is not a hot is not a one for one relationship you'll increase your deduction probably but it. Doesn't necessarily reduce your taxes dollar for dollar or your Internet your income. We can -- get the standard deduction. Yes but I liked -- for a married couple the standard deduction at 121012100. So. You really have to have between the mortgage interest and real estate tax. Charitable contribution and then -- stops altogether more than 121200. In order to item much. -- I had clients. Just this year they've paid over the -- so this year the mortgage interest to us next to not saying. And their tax salon look from high to bombed them all over the 121200. So -- -- standard deduction and really lost about hash it out. Being able to itemize. But for those folks is better than -- strategy where you. Pay the taxes everybody there's W tight -- in January and December. Well you double up and we are dirty -- from -- you're able to itemize every other year and yeah the rest of the time he -- standard deduction. -- point very point. Was -- information. Does get it we went in an Imus to speak freely here when we -- -- before. During the break John I were talking about. You know integrity come on the show and -- wondering if you should he should talk about in CC's which stands for mortgage credit certificates. Failure to these Aaron Berry thriller with with with what -- offer first time homebuyers merely to -- you by any means but it did now. It's it's well the first time home buyer credit though some years ago and now I have they're that there are people that get every -- and there are people that just got lucky because they changed. Rules about the year after the origin all credit -- shoot and they don't and we were like the to get him a waiver well -- What AMC's in CCs -- or mortars -- tickets are there a way that the state has funded. There's always stay front and oftentimes -- is. For -- this allows for some homebuyers. To deduct up to 2000 dollars -- and access to credit get a 2000 dollar tax credit. Each year. From owning a home so where you're able to do is instead of writing off your mortgage interest is a deduction. You can use the mortgage interest up to 2000 dollars that tax credit. The credit's going to be a bigger deduction and a reduction and a reduction in your taxes. And in the new deduction. And so it's a very it to stay in and they're on -- money out there for the and so for the first time homebuyers should definitely asking her -- about them because -- -- -- kind of free and you do you pay him. An extra. One discount point which is 1% your loan -- up front. But in the long run you're gonna say much more than that to get that up to 2000 are clear. You know tax credit so it's critical they'll let MCC is what. You know we call him in the business so if you're out there right now -- to an event he -- today if -- Embedded benefit great part because of that credit if you are not able to itemize -- that credit's bill you can still plague that. That reduces the tax feel really dollar per dollar red -- -- you. Well that's a part of shows about trying to help book save money. Playing written we're gonna take a break and we would you thank you for coming on the show and would love for. Our audience to at least have your phone number so. Folks decoy at the office of state did have a question that stems from today's conversation very -- give out your office line. He said there. Sure you can find me on on the Internet is just. Ingrid -- CPA and if you Google led -- confined for allocated and my outrage cash and my office number is 512. I'd hate to hear a lot of running time. That's great. Let's try to think so much for taking time on Sunday we are really just -- yes thank you thank you. Thank you guys were in hiding in your show let. -- Garnett the fifteenth because the next few weeks and we know to be crazy Fareed you -- the. There will be well I doubt that. Somebody got a good read somebody's got to the end zone has got did we thank you for that thank you got -- -- thanks but I'd flags. What's suffered a break half our numbers 5123 and a thirteen 739013. Seventy. Arms jolt we're going to be talking -- arms and around talking about your arms and talking about adjustable rate mortgages to these things are hot right now. Well since saving a lot of money -- a lot of money that's a reason why so tune in when we come back after a short break. You -- house talk radio. Good Sunday central Texas get ready for the latest real estate and mortgage news. House talk radio John cheap -- And -- Douglas. And we -- back Austin thanks. And I would give it a nice shot up two of our good friend. And favorite CPA fingered Edwards Ingrid thanks -- tune into the show it was great to have you on the last segment. So kind of a good lead into our next. So Clinton -- segment. When a share some information on how folks to saves money and how to save money with your mortgage now this part -- not for. Every person getting a mortgage but at it's it's it's for a lot of -- so. John you brought the topic of arms which stands for but just for a mortgage and what why are they becoming popular again. And why should folks consider or at least wait in getting -- now. Well great question how can you ask a question why should they consider -- now. Why is a more important now to think about. An armed verses -- did you ever heard about arms for a little while you're actually right cursor right so in Texas historically we've never really been an arms. The way that California or the north northeast haven't -- here's why homes are so expensive in those areas. Can compare to hear their average prices are so much higher. The folks looking for any way to save money in there will take a -- more risk can get a adjustable rate mortgage and Laurent took to it just afford to live in the house right. Well. Texas is certainly is getting more more expensive in Austin especially -- during Christmas ornaments so. As -- mortgage amounts get bigger because the house prices are bigger. Folks are beginning to consider arms. That's one reason so the price in the mortgage amounts are going up in the second reason is that as interest rates rise. There's a bigger. Margin. Or. No great difference between me fixed rate in him and an arm back you know the last couple years and rates for a thirty year fixed rate was in the mid threes say three and a half percent. You do a five year just for a mortgage. And might have been you know two point some Barbara 3% in and search for north rate thirty or fisheries are so dominant in three and a half. Now the 35 straight tournament for worse. You can still get a five year. I just for a mortgage. Around. Three and a quarter percent so the savings three and it -- ordered it now you have for end of it just ritual where you know. We're already heard -- -- fixed rates averaged thirty year fixed rate last week Freddie Mac around reporter for -- four point 32. And so you say almost a full percent are sometimes more if your fund don't know what is a five your arm. A five year arm means that the further rate its fixed. For five years it does not change to sort of thirty year fixed rate it it's fixed it's not gonna change -- during a prayer for five years after five years though. The rate -- -- up as much as 5% over the original start right so let's say that a five year arm today -- 3.2 five it's going to be fixed for 3.2 five. For five years and after a five year period can go up as much to as much as eight point 2:5% which central scary right. But the question is and this is as you said is that these -- for everybody. Are you really go -- that house more than five years. Well I -- me just ask the question really quick then. First off. The average homeowner lives in their house. Anywhere from 57 years. Right especially in Austin it depends on interest on the stage of life that your name mean there's a lot of folks I know it. That are in -- buying houses right now with the idea. The -- is they're trying to get out of renting to buying a home for 234 years. And it's not that mean you know it's not their dream home and there and they're going to you. Perhaps having children living out of their Condo or they're going to -- retire soon downsize. It. To maybe -- arms for those types of folks might be good fits. -- more and here's the thing to. Five your arms are probably the most popular it is the rate of so much this is. Assistants is in a quarter negative people's -- -- that's not a rate quote current and your -- so no more -- with the situation bullets that's about the ever pronouncement record. A seven year arm is around three and a half she can still save a lot of the -- army get a seven year fixed period. Then continued arms around four right now. So even a ten -- term. We'll save you money. Now Joseph in your experience how many people live in their past ten years it's just it's really rare or not it's not very common right my parents so even if you say Illinois. So it's just talk some quick numbers are carrying 200000 dollar house. 201000 or more news right now we'll -- by a terrific does our -- the 50000 on your mortgage is 2000. Right now the principal interest on that on a thirty year fixed is around 99 yet let's call a thousand bucks. Thousand bucks if you -- a five year arm. You can get that payment and 87630. Dollars per month savings. -- To some real quick math. A five years if you if you keep on -- for five years that's gonna save you 7800. Dollars almost 8000 dollars in savings. -- it makes sense to -- if you too -- 130 dollars a month. And put it into a some sort of investment vehicle that may just 5% mean. Would you agree 5% to fairly conservative number there's lots of funds out there and learned yet that 5% right. Over -- five years that will grow to 8800 dollars almost 9000 bucks a morale but to say 9000 so. The question is if -- thing a regular mortgage today is your mortgage lender talking you know about. An arm because this could be almost 9000 dollars in money in your pocket. That's just it's kind of like free money. There is a risk in the wrist is what if you don't live in that house more than aware if you decide to keep the house for that mortgage more than five years then what. Here's one argument. Going to be tournaments one argument is what's say that you -- and -- six years so after six years let's say rates go to 8% -- -- your parents can ago. Up to around 15100 bucks. So was state seven mr. fitness tracker almost six -- about to -- scary sounding. You should if you do this strategy do you still got almost 9000 dollars and about as a pot of money to the side. That you can supplement your payments fell last year until you do some house. Second argument let's say he decided to -- -- five years goes by you thought you're gonna move. For whatever reason you decided you really love how you yourself. And rates are gonna. You can take that same 9000 dollar savings. And use -- -- by the write downs or refinance. To a fixed rate. And Rachel in theory be higher at that point. But use them in a -- down low as you get at that point. So you might be back down and the -- mid fours because you. If you have 9000 dollars to buyer -- down that's a lot of money that's why would discount points food for those -- know he knows -- discover. Discount points are. You can probably three down back and that's in net written of so. It's almost like a risk free. Approach. To. It's not for everybody you know for some people put their money in the bank it in order rather or 1% -- -- to get any term something person am I go buy stock. Okay this is somewhere in the middle there's a little bit arrests but to look. Potential for a lot of savings and the real question is this why -- we talked about more. We declare a winner everybody just says here's a thirty year fixed rates are qualified calling and -- -- contract. This is the kind of try to do that. Should be mentioned at least mention what folks. Evaluated evaluated absolutely what is it's easy link for you. A cylinder. Is it pretty easy just are on the numbers where somebody and say okay. Let's look at what would be a five year would be a seven year. What thirty year fixed on an out of we're realists results right now there are thinking through this her or maybe your fixes finger fixed rate at four and half you -- -- have a one. You can refinance to this music strategy if you know you're leading -- you can refinance you know that you're getting a job change -- -- -- -- -- -- Absolutely parents to downsize or so dollars -- some folks are aggressively going after alone in my -- -- from five years when I say during that time you know I wish that you had to know we can Regis camping and numbers here on this on the spot. But I wish that you that we would know about what what -- how much -- principle that you pay down. They were so this all figured out you're an expert on you know so we're five years the span. The difference between -- Are you by one arm. At what three quarter that we set right. Vs having a thirty year fixed that for our conference what did you pay down with the same mortgage parent that is correct we will answer that question when we come back. You listen to house talk radio with John. -- -- Good Sunday in central Texas get ready for the latest real estate and mortgage news. -- talk radio. John cheap -- and she old Douglas. And we are back we're live at five. Here at house talk radio. Our phone number here is 51239013. Seven it's 5123. Note thirteen seven a week for just wrapped up. It's a good discussion about. Arms ended who should have them why you should have them the money that you can save from going with the arm. And John was an answer the question. Or how much money would you save with the same payment but have an arm for five years vs. Having a thirty year fixed and how much principal. The deal to pay down to the same time period. Let's just let's just defined as a city instead of in a thirty year fixed you can verify your arm which is going to be just roughly 1% lower and interest rates. But you make the same payment as you would have made with the thirty year fixed okay fair. You would pay an additional almost 9000 dollars down on your more and more which some additional 9000 dollars of principal and principal. So topless saving 7800 dollars up. So your six -- 161000 dollars over the course of fifteen years no one knows I was instead of say -- you're gonna be gonna repainting the same payment. But if you did refinance after five years or sell your house. You have an additional. 9000 television deal helped them. That you have to wonder why both more folks don't weigh that as an option to mean I would think that that would be. You look at all different strategy sending back in the day what is almost six months ago that the thirty year fixed in a -- your arm were -- what a quarter or half point away from each other and now it's a full point. Which offers a huge cost -- I'm going to be Rabat. That's because it's way easier. For a bank or mortgage companies and say here's a thirty year fixed now. There -- five -- requires more explanation now. And more analysis. Parents a lot of folks are actually saying this is -- say here's a barrier affects everybody goes with a lot of folks think that arms got us into this financial mess and -- ever gotten arms polymers that are -- well do you know a long time and in most other countries and -- they're all -- if you get a -- get a mortgage -- thirty year fixed -- -- -- -- -- -- you -- there's different there's different but -- -- shorter -- -- -- get -- -- -- -- to -- -- time. Going to the bench every so many -- -- for 65 years and you renegotiate your rate because. Now there's a whole other discussion but we're blessed to be in this country because we have. Even though the mortgage systems a perfect as we are sort of meltdown. The fact you can -- thirty year fixed rate at -- a half percent or less today is an anomaly in the world. Food it's our financial system they created these mortgages. They're just a bad name but actually help people there really do help people because -- would get this long term short. Long term cheap money when other countries you can't watch generate as long as you can yourself that's all discussed we're gonna tour but you know. Our -- are are really wanna talk to a certain will -- there. A certain segment of our listeners and those are first on Mars or. Folks who don't home now they own home previously they they sold a home for some reason -- financial trouble. Whether limited Austin images expensive citizen who rented. These folks are calling my office and drove right now in getting back on the market they're they're very curious is that it's still it's -- fastest growing segment. -- -- -- absolutely absolutely. And and it's it's it's it's a challenge for them because it's so competitive. I think to looking in the wrong areas personally there. I do you mean it's it's. You know everybody wants to be in the same areas and that's why it's so competitive Aniston is how cells and in this is so -- are competitive and I think that's. The strategy that that's that folks in employers to look to move just a little bit further out. Maybe go to new you can look to see that mean builders in new home neighborhoods. Have got. A sea of inventory available. For new construction. Well that's one thing is change and over the last few months is that builders. Were -- little slow to start building again. But they're building big time in there it just doesn't go -- I think they said there have 200 spec homes in the next six months meaning that they're gonna go and build them before too violent turn. Because you can't little fashionable fast enough but are there is now available in return you can find a new home. Maybe right I mean I know some stones some specs that are Avaya William -- now. -- -- -- ready you know in another month and on the right -- right now looking just the timing were still February. A lot of the new construction actually gets delivered as being a closer -- April may June July. -- this is just see -- a seasonal adjustment. You know folks -- realizes guerrillas are negotiable. New home builder Mike you know how much negotiation room there isn't imminent in the new construction deal. And because sometimes don't take a real toward Germany just it's such a huge mistake you'll. And again this is almost another discussion but I have seen you in other agents -- workers say folks. A lot of money. The end of tomorrow is about save money sometimes it's about. Knowing how to protect yourself that this church in an infrastructure because if you don't if you sign the contract and maybe some cases you have to do so compared b.s have to take what though it. And centrists negotiated certain things just. -- with some of these contracts. When you sign that sucker and you give me earnest money delegates and yet you're -- in -- with a resell there's if you're buying existing home with a tracker Texas -- -- contract there's certain protections for the bar that aren't always in these new construction colors I'm not -- this is not a you know bashing the built -- not at all. But they have a right to have a contract -- and they -- in a way that sometimes. You have to know your dates and we are protected and an agent is the one that's gonna help your thought more heavy handed dominant -- no sugar added I didn't. And well -- when it comes to financing. For first time Omar's. There are some really great options out there that you've just got to consider because what I'm finding is. Folks that are don't quite have enough savings yet a billion is just kind of put their toe in the warrants say what is available out there in these folks or talked to be just. Right now you can buy a house. With a moderate income up to abound around 85000. And even as high as. A little over a 100000. With zero down or is that the purchase press -- that these -- -- -- I'm talking to folks to make this much money monthly or annually this is -- income. I think there's a professionally you have to be -- are fortunate permit if you make a pretty modest incumbents to get some assistance -- -- and in some cases it's zero down with very favorable loan terms like the US to run for another program that we're doing a lot of -- called. It's a down payment assistance program it's called T shocker -- SH seek the food and that's a offers me right down but to -- her. Call call call us -- our office cost you to station at 313 seven you will tell you more about it but. It's grants where you can literally get no down payment for free he door to pare back. And there's no tax ramifications aren't -- no negatives -- You know like what if I -- two years -- pared back -- commit tax penalty liked old. IRS First Amendment but our program -- -- this one is. It's really great it's great and what's crazy is that it will start running the numbers for a lot of these. Usually new home construction people can own a brand new home. -- have but cheaper payment month to month even in some areas -- -- down -- use -- T -- program and also. Have a lower payment than what the opinion rent is astounding. Writing rents are at an all time high and there's no end in sight there's going to be any relief to. This -- what's happening we have so many people living here we just came we can build rental property for apartments or what to believe units pass enough. So that's what's driving rent and occupancy rates. Got cut. What does patrol you said earlier he says. Maybe their outlook in the right place given me an example of something that somebody says hey I wanna I wanna buy but I really wanna live. I just love that south congress area or be closer downtown but I can -- their for 15100 yes it's only 600 square feet number if it units this stinks but. I just can't find anything -- so. With this -- -- is -- -- you can probably buy a house. For around 180 to 200 and keep your -- around fifteen bucks. Where could they look it's the next best thing of course is not on south congress for worst summer clothes. On and well you know tragic. You just stumped the stumper south. Want to talk to anyone actually and -- I don't -- I don't Tunisia is the silence -- just America -- so are there are you could still be within twenty minutes and downtown. And have -- -- in new construction. NB. In new construction in new construction I mean we don't even have to talk about being in. Some old time -- -- tell us because we don't value if I was new construction and -- of about seven or eight years ago. I'd probably didn't feel this way but I I -- at total. Believer in having an energy efficient and having a greener problem that's because you're open to slowing -- Obama but it. My home in my book but I'm -- the windows wide open to the point here. Not. But having more energy efficient home where the standards of of construction require that these homes -- now be more efficient and we're at where this goes. You can have your modest 2015 -- -- two does were at home and still have a 500 dollar utility bill in July. Or August and there's. On average which is not good which is not good -- I've. Just let's see out move as it is probably about a year ago and had sold a home where there is some energy certified program. That guarantee the utility built never be more. Than seventy dollars per month to imagine not pulled unpopular is 3500 square feet -- it was brand -- -- yes there's a 35 -- scrum at home that. It had eight at. A certification that comes with it which allowed these builders are doing right to guarantee that the utility bill stay. Inexpensive and that's the way it should be that's a huge savings you can stuff that people don't understand. Mean you can save money on having a low -- spirit -- -- -- and have a five or 600 dollar more a utility bill. I'd rather have. A better home. A nicer home baker home or whatever the home and a lower utility Bill Murray and yet there's big deal so there's places that are in east. That are they're gonna find them in east -- -- sorry east Austin east footer real. Just -- -- east of I 35 there's also areas that are in north Austin. And Northrop rock that I think are just fantastic fantastic opportunities that -- can YouTube for really really good deals. We'll find out more about this -- I think our newest that the militants trying to hurt and they call you right now. Well probably the best thing to do is to go online to you my website at that Douglas residential. Dot com and it. It's it's very easy to find find me there and you -- before you could submit queries through an email thing and I'd be happy. To answer any question. We got to wrap this pound and also FaceBook with the past talk radio. Twitter -- are Boston or jump on iTunes you can hear this and other shows and some really -- -- guests there. Thanks for listening we're back next Sunday live at five here was John shoots into Obama's. Have a great week.

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