Walnut Springs Hike and Bike Trail Ribbon Cutting

Everyone is invited out today to see the Walnut Springs Hike and Bike Trail.  The community is invited to lace up their sneakers and bring their bikes and scooters to come check out the trail.

The plan for the ribbon cutting is that the mayor will be saying a few words at the end of Convent Street, where it dead ends at the Ruby P. Vaughn Walnut Springs Bridge.  Once the speech is over, those attending the ceremony will walk through the ribbon, similar to ending a race.  Then people are invited to enjoy and explore the trail.

This has been a project the city has been working on for years.  The Walnut Springs trail is approximately two and a half miles and goes from New Braunfels Street or Highway 78 and goes south along the Walnut Branch all the way down past the library and ends at the Walnut Springs Bridge.

The community is encouraged to explore the trail using any non-motorized method.  The trail connects Seguin parks, public facilities, businesses, residents, and even Texas Lutheran University.  The trail was a joint project between the city and the Texas Department of Transportation and is likely to be expanded someday in the future, to connect to Max Starcke Park eventually.

The ribbon cutting starts at 4:30 p.m. today, January 3rd on the trail just beyond the new public library on West Nolte Street.

Myths about Real Estate

I love trivia… he’s useful information that helps understand some myths about Real Estate posted from NAR website on 2/26/15

Myth Article

87% of all homes qualify for some sort of down payment assistance program and over 90% of all DAP’s across the country are funded

Check out the link below to see if you qualify. Then give us a call. The market is active and moving out there!!!!!

Qualifying Programs

Three great programs being supported!!!

Happy Tuesday!!!!
Below is a link that talks about a 100% Loan to Value Loan (LTV), Tax savings for short sales and Loan programs for first time home buyers!!!

Posted from The National Real Estate Post 12/6/15
Awesome New Programs!!

Tax Extensions Passed

Polychron on passage of tax extensions
Posted in Legislative, by NAR on December 17, 2014

National Association of Realtors® President Chris Polychron has issued the following statement on key legislation passed by Congress:

“The package of tax extensions approved by the U.S. House and Senate, and headed to the President’s desk for signature, includes important provisions that will help distressed homeowners and commercial property investors with transactions made during 2014. NAR applauds Congressional leaders in both chambers for their effort to pass this legislation before adjournment.

“Realtors® strongly supported the bipartisan Mortgage Forgiveness Tax Relief Act, which was included in the package to prevent underwater borrowers from paying taxes on any mortgage debt forgiven or cancelled by a lender in a workout or after their home was sold for less money than was owed. We are grateful to Sens. Debbie Stabenow, D-Mich., and Dean Heller, R-Nev., and Reps. Tom Reed, R-N.Y., and Charlie Rangel, D-N.Y., for championing the provision.

“The legislation also includes one-year extensions of the 15-year depreciation schedule for leasehold improvements and the deduction for improvements to energy efficient commercial buildings.”

Interest Rates Affected by Tax Deal

A great mortgage lender that I’m friends with, Steve Brown, sent me this article.  It explains why interest rates are no longer 3.75%, but are now up in the 4% range. . . NOT that 4.5% interest rate is bad, but we’ve come back up a little bit.  Interest rates are amazing!  If you are renting, and you have decent credit, you should really run the numbers on my mortgage caluculator and see what you could be buying instead of paying monthly rent.  If you have money to invest, Seguin, San Marcos, and New Braunfels Real Estate is a great place to invest.  With credit being tighter, many folks aren’t able to qualify for loans, so they are forced to rent.  There is a large demand for rentals right now.   Anyway, back to the article that Steve sent me:

Congress Passes Tax Deal
By Stefan Nevelof, Highlands Residential Mortgage Secondary Marketing

It was another tough week for mortgage rates. Tuesday’s Fed meeting contained no surprises, so investors focused on stronger than expected economic growth data and progress on the tax deal, which was passed late in the week. Once again, nearly all the news was unfavorable for mortgage rates, which ended the week higher.

Recent economic growth data has mostly exceeded expectations, causing several economists to raise their forecast for GDP in 2011. In particular, this week’s Retail Sales and manufacturing sector data surpassed the consensus estimates. Faster economic growth generally produces higher future inflation expectations, which leads to higher bond yields.

The tax deal has been negative for mortgage rates in three ways. First, it’s expected to boost economic growth. In addition, it will increase the budget deficit, which will lead to a larger supply of Treasury securities, pushing bond yields higher. Finally, this additional fiscal stimulus will make it less likely that the Fed will add more monetary stimulus. That said, the Fed is focused on unemployment that is far too high and inflation that is below its desired level. At this point, the Fed is in no rush to begin to tighten policy.