Sunday, November 13, 2022 / by Kathryn Jones
There are SO MANY "Chicken Littles" out there pushing DOOMSDAY headlines about inflation and interest rates, as it pertains to the real estate market. For the last 4 months or so, since the "INFLATION IS AT A 40 YEAR HIGH" news broke, all the news has been bad. Then about a month ago I was introduced to a video. It's an interview of a guy that is highly respected in the finance industry, named Barry Habib. You should Google him. I've learned that about every loan officer I know listens to him and even my financial planning firm (big company, nationwide) does too.
While I must clarify that the Russ Phillips Team is not in possession of a crystal ball on economics, we DO have very interesting information to share with you as you consider your next steps in real estate.
This has been a confusing time in my industry. We keep hearing the Austin job market is amazing, there's more jobs than workers, not enough homes are being built, an ...
Monday, August 29, 2022 / by Kathryn Jones
Man, 2022 has been interesting. Thanks to you and your referrals, we've been flourishing...but I wonder if you know what is happening out there. Crazy things afoot! In real estate AND personally. (I'll save the personal thing for last.)
I'm sure all of you know if you read my updates that 2021 was a crazy awesome year for sellers. Our buyer clients saw us HIGHLY CAFFEINATED all year long (and well into 2022), as we rushed to be the first to look at new listings, get offers written, contracts secured, and help folks get where they wanted to go. Then...it happened.
First, my wife entered her 5th decade. I know you're not supposed to tell a woman's age, but I just did, so now I'll try and recover and tell you there's some sort of "dog years" math at work there, because we've been married 27 years now and she looks 26. Math is hard.
ANYWAY....right about the time she had a birthday, the news exploded:
Tuesday, June 28, 2022 / by Kathryn Jones
As many of you know, there is so much research, time, and energy that is put into purchasing a home, from both you and your realtor. Because of the list of to do's surrounding your closing, buying a homeowners insurance policy is too often almost an afterthought - although required by all lenders. Selecting the ideal homeowner's insurance plan can be challenging. Homeowners must evaluate their risks and living conditions while also comparing insurance companies' pricing, customer support, and claim reimbursement effectiveness objectively. In honor of National Insurance Awareness Day, we pulled our top industry tips for selecting the best homeowners insurance policy for your family. Keep reading to get our tips...
1. Understand What Homeowner Insurance Is & What It Covers
In the event that your home or its contents are damaged by a fire, smoke, water, theft, vandalism, storm, or any occurrence specified in the policy, your home insurance policy will pay to restore or replac ...
Thursday, June 2, 2022 / by Kathryn Jones
Did you know that first-time homebuyers make up 31% of the current market? June is National Homeownership Month so we wanted to take this time to help our first time home buyers out there! The home-buying process can be hard and perplexing, especially if this is your first time. If you're looking to buy a home in 2022, check out the following tips to remain on track and achieve your real estate goals.
1. Set A Budget
Examine your finances thoroughly, including your monthly income and obligations, to determine how much house you can afford.
Following are some general recommendations to keep in mind:
If you’re debt-free: You can consider houses that are up to 5x's your total household income.
If less than 20% of your income goes to pay down debt: You can shop for a home that is no more than 4x's your income.
If more than 20% of your monthly income goes to pay down debts: Shop for houses that are 3x's your income or less.
To make it easier to calculate how much yo ...
Friday, May 6, 2022 / by Kathryn Jones
Our President, Russ Phillips sat down again with Legacy Mutual Mortgage's Nick Pronsky to talk even more commonly asked questions from our clients. Today they got down to the nitty gritty on, "What's going on with today's current mortgage rates?" Keep reading to learn more about Nick Pronsky and why he's the man to answer this question. Nick has an extensive knowledge and understanding of the industry after spending time in underwriting, processing, and origination, both in wholesale and in retail. Nick really found his calling when he moved to Austin and became a full-time loan originator, where his knowledge of mortgage underwriting guidelines and his commitment to providing excellent customer service helped him grow his business through a trusted network of referral sources. He is very accessible and straightforward with all of his clients, he always works diligently to make sure clients are comfortable throughout the process of obtaining a home loan, and his goal ...