Well it is almost the 4th of July and I can’t wait to see the firework show put on by the Lake Nasworthy Homeowners Association. Speaking of fire at Lake Nasworthy, the home sales out there have finally started to heat up.
There has now been 5 sales at Nasworthy this year. These range from $150,000 to $392,000 with an average price of $279,000. There are currently 18 homes on the market, plus a couple of lots.

If you have any any questions about buying or selling at Lake Nasworthy, please give us a call!

Ryan Newlin 325-277-2828
Mike Newlin 325-277-4275

It’s Official – $8,000 Tax Credit Can Be Used on Closing Costs Friday, May 29, 2009 FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.The loans can’t be used to cover the minimum 3.5 percent, senior HUD officials told reporters on a conference call Friday morning. Thus, buyers applying for FHA-backed financing with an FHA-approved lender that offers a bridge-loan program can get a bridge loan to bring down the upfront costs of buying a home significantly but would still have to come up with the minimum 3.5 percent downpayment.There remain many sources of assistance for buyers needing help with the 3.5 percent downpayment, including many state and local government instrumentalities and nonprofit lenders.In addition, some state housing finance agencies have developed their own tax credit bridge loan programs, so buyers in states whose HFAs offer such programs can monetize the tax credit upfront to cover all or part of their downpayment. These programs are separate from what HUD announced today. The first-time homebuyer tax credit was enacted last year and improved upon earlier this year–to help encourage households to enter the housing market while interest rates are low and affordability is high. The credit is worth up to $8,000 and is available to households that haven’t owned a home in at least three years. The credit does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.Learn more about the credit, including how to apply for it this year even if you’ve already filed your taxes. Source: Robert Freedman, REALTOR® Magazine Online

Some of you might have seen the San Angelo Association of Realtors promoting their new marketing campaign. This is the “Real Estate is Local, & Local is Good!” slogan that has been flashing on your TV and in the front yard of your neighbors. You might be wondering, is this true or are the Realtors trying to pull the wool over your eyes. With the state of the national economy, how can San Angelo be doing so well? For starters, our local banks decided not to participate with the Sub-Prime lending fiasco. Although we have foreclosures, there are not many more now than 3 years ago. Want to see for yourself, check out this link…San Angelo Foreclosures for the April Sale.

I have compiled some stats from Navica MLS from 1/1/2009 thru 3/11/2009 for Residential Sales in San Angelo ONLY.

160 Homes Sold
Low Price – $25,005
High Price – $479,900
Average Price – $125,422
Median Price – $109,000
Average Days on Market – 100

These homes sold at an average of 96.89% of Asking Price.

If you ask me, these numbers do not look too bad but lets take a look at last year during the same period.

202 Homes Sold
Low Price – $14,900
High Price – $560,000
Average Price – $123,398
Median Price – $108,800
Average Days on Market – 87

These homes sold at an average of 96.45% of Asking Price.

As you can see, these numbers are almost identical. I guess the Board of Realtors is correct, Local is Good!

On a side note, we closed a deal recently where our buyers had an interest rate below 6% and will be receiving an $8,000 tax credit on their 2008 tax return now, which represents about 5% of the sales price on the home being rebated by the government. The buyers are elated. Sorry, but nobody can convince me that these buyers should have remained renters, sitting on the sidelines trying to “time” the market while they wring their hands and worry about the economy. No, they are very smart and they’ve done the right thing, which is find a great deal and buy it.

If you would like more info on the First Time Home Buyer Tax Refund or a Market Report for your specific neighborhood, please contact me. Just google me….

This program has changed with the new stimulus Bill. Repayment is no longer required and the amount has gone up to $8000. This program will run until 12/1/2009, please call for more details.

Ryan Newlin
325-277-2828
ryan.newlin@era.com

Ryan Newlin

ERA Newlin & Company

325-277-2828

I am renting this homes  by the night, weekend or month. Prices range from $60 to $100 per night for Joy 1(Green House) and $75-$150 per night for Joy 2(Blue/Gray house). Both come fully furnished and feature some excellent fishing. BBQ is allowed and expected. Joy 1 and Joy 2 sleeps 5-6 comfortably. Give me a email or call for more details. Click this link to view a Slide Show.

Joy 1 slide Show

Ryan Newlin – ERA Newlin & Company.

Ryan.Newlin@ERA.com

325-277-2828

Well, I finally got out to eat at The Grill tonight and I was very impressed. The Armenta’s definitely have something going out by Sams. The atmosphere was nice change. I had the Steak and Enchilada and it was amazing. After tasting the steak, I wished I would have ordered the New York Strip. For those of you who are debating on whether to give it a shot. GO. You will not be sorry!

Well, I finally got out to eat at The Grill tonight and I was very impressed. The Armenta’s definitely have something going out by Sams. The atmosphere was nice change. I had the Steak and Enchilada and it was amazing. After tasting the steak, I wished I would have ordered the New York Strip. For those of you who are debating on whether to give it a shot. GO. You will not be sorry!

I heard of a City porogram that I thought might interest many folks in San Angelo. For qualified individuals, they are offering $5,000 – $8000 downpayment assistance toward the purchase of a home. I was thinking that this could help you get into a home while interest rates are very low. Give me a call with any questions.

www.ryannewlin.com

Have you heard about the low refinance mortgage rates and do not know where to start looking? Give me a call, text or email and I can point you in the right direction.

Thanks

www.ryannewlin.com