Blogs by Patsy Snyder 
FHA Rules Are Changing
Monday, February 1st, 2010 at 12:42pm. 41 Views, 7 Comments.
Changes coming to FHA!
Before the conventional mortgage loan market collapsed, approximately 10% of home buyers utilized FHA financing. Conventional loans were king. Borrowers who had less than perfect credit and little money down could utilize the FHA programs to purchase a home. FHA required 3 percent down and the seller could contribute up to 6 percent in seller paid closing costs. A buyer who purchased a $200,000 home with the seller paying 6% in seller paid closing costs needed only $6,000 in down payment and about $1,000 in additional cash to cover buyer paid closing costs.
Today approximately 41% of all loans originated by mortgage banks are issued and insured by FHA. The reason for the sudden use of FHA insured loans is due to the stringent…
Metro Rail Update as of Oct.19
Monday, October 19th, 2009 at 7:11pm. 57 Views, 1 Comments.
Today, The Capital Metropolitan Transportation Authority announced that it could be done with the changes it must make to its MetroRail Red Line in January, according to a status update released by Capital Metro.
It seems that, according to Capital Metro officials, work is under way to address the two main types of issues that remain, issues requiring programming changes to the centralized traffic control system and issues requiring operating procedure modifications.
They annouced that once those changes are complete, Capital Metro will test the full system to ensure the changes and improvements work together, officials said. They are projecting that these last steps in the preparations be complete in the first quarter 2010.
“I am committed to the…
Metro Rail Update
Monday, October 5th, 2009 at 2:49pm. 70 Views, 0 Comments.
It seems that we are making progress on the Metro Rail in Leander traveling to down town Austin. Capital Metro has stated that the discovery of problems not realized early in the process have caused the delays. The organization has stated that many of the problems are being overcome now and that they do not plan to announce a new opening date for the rail line until sometime in January.
As excited as many of us have been about the metro rail, I, for one, am glad that they have delayed the opening due to the safety factor associated with some of the obstacles they have mentioned. Safety seems much better than "sooner" to me.
Like many things that we anticipate, I am sure that when it does finally begin running to Austin, those of us who have suffered…
Where is Block House Creek?
Friday, August 28th, 2009 at 1:05pm. 99 Views, 0 Comments.
Since it's beginnings, Block House Creek has had a Leander address. Cedar Park will be the correct address if a majority of the residents choose Cedar Park rather than Leander. Block House Creek has always been in the Cedar Park ETJ. If this is confusing to you, just think about Block House Creek being out in Williamson County and not in any city.
I have voted for a Cedar Park address when offered the survey in the past. It just made sense to me since Cedar Park will, one day, annex Block House Creek.
If you have questions regarding a community that is not in a city, contact me. For instance, where does the community get its' water? What fire and police departments service the community?
I have lived in Block House Creek since 1990 and,…
Should I Allow A Realtor To Place A Lockbox On My Listing?
Sunday, August 23rd, 2009 at 1:38pm. 88 Views, 0 Comments.
I have been asked this question many times over the last two decades of my career. My answer is "yes" and I hope to answer some of the Seller's questions here.
From the Seller's point of view:
- Who can retrieve the house key from the lockbox?
Any Realtor, Inspector or Appraiser who is a member of the Austin Board of Realtors and
Austin Central Texas Realty Information System
- Are my valuables safe in my home with Realtors and Buyers entering my home in my absence?
Realtors are very watchful while showing your home to prospects. We are trained to advise all
Sellers to put away their valuable jewelry or small valuables that could easily be taken. If you
think about it, a prospect…
No Cash, Low Credit Score--USDA Has Your Loan
Sunday, August 23rd, 2009 at 1:25pm. 98 Views, 0 Comments.
If you want to buy a home but do not have available money for a down payment and closing costs, USDA Loan Program offers up to 102% financing for Select Rural Areas in Central TX.
Some details of the USDA Loan Program are as follows:
- All closing costs & prepaids can be added to the loan, up to appraised value
- No Private Mortgage Insurance (No PMI)
- Loans can exceed appraised value by the 2% USDA Guarantee Fee
- No upper loan limit – loan amount offered based on Ability-To-Pay
- For owner-occupied borrowers only
- Program counts all household income to determine eligibility (even household members not on the loan)
- Subject property has to be in USDA “Rural Development” area
- Minimum credit score of 580
- Full Doc Loans and 30-year fixed rates only
This…
Entertainment In Cedar Park
Saturday, August 22nd, 2009 at 1:11pm. 148 Views, 1 Comments.
Cedar Park has great entertainment. The VFW Hall is no longer the only game in town. Aside from city and group festivals, there are now several venues from which to choose.
The most recent and upcoming venue is the Cedar Park Event Center. Click here to get the specifics.
This blog is currently under construction. Please come back for new additions on the entertainment and restaurant scene in Cedar Park.
Exemplary Rated Schools in the Leander ISD
Sunday, August 16th, 2009 at 11:13am. 98 Views, 0 Comments.
Leander ISD is working hard to raise school ratings and the latest ratings are now available. In fact, two of the newest schools' first ratings are Exemplary. Those schools are Parkside and Westside Elementary Schools. The Exemplary rating is the highest rating for schools in Texas.
Also rated Exemplary are Grandview Hills, Faubion, Block House Creek, Mason, Giddens, Cox, Pleasant Hill and Rutledge. These are all elementary schools.
These six schools maintained Exemplary ratings: Canyon Ridge Middle School and Cypress, Steiner Ranch, Laura Welch Bush, Deer Creek and River Place, elementary schools.
Schools earning Recognized status are: Vista Ridge High, Knowles Elementary, Cedar Park High, Cedar Park Middle, Leander Middle, Running Brushy…
90-Day Down Payment Assistance Program
Monday, July 20th, 2009 at 2:41pm. 313 Views, 4 Comments.
Do you want to buy a home but do not have the cash to close the deal? Good news! The American Recovery and Reinvestment Act of 2009 which allows an $8,000 tax credit for first time buyers has been amended by the Texas Department of Housing, Community Affairs and the program is called the 90-Day Down Payment Assistance Program.
This program is being offered in an effort to monetize the $8,000 tax credit to assist borrowers with down payment and closing costs. What a deal!
This program is for first time buyers. This program allows you to receive the tax credit funds as a 2nd lien, at closing of your new home and allows you to file an amendment to your last tax return to receive the money to pay off the newly created 2nd lien. To help you understand…
Your Home Value--Setting the Record Straight
Saturday, July 11th, 2009 at 12:55pm. 116 Views, 3 Comments.
For some time now, I have had prospective Sellers disagree with the value that I established on their home. I do not have a problem with disagreements as long as each side proves their point with actual data.
For many years, Sellers would base their price opinion on the sale of a friend's house or a neighbor's house. As a real estate broker, I knew that, more than likely, the friend's or neighbor's house was not comparable in any way except that it was in the same neighborhood or the same floorplan in another neighborhood and assuming that they were exactly the same in every way, my prospective Seller had no way of proving the sales price.
Texas is a non-disclosure state and sales prices are not available to anyone. Our local appraisal districts do…
