Tech Terrace Home Shoppers will be impacted by FHA loan changes.

 If you are shopping for a home it is financially advantageous to get UNDER CONTRACT prior to June 1.  If you plan to buy a home in Tech Terrace or elsewhere anytime soon, time is of the essence.  Please forward this note to any friends, colleagues, relatives who may be in the market to buy, including those who need to sell a home to move to a larger or smaller home.

 

In early June there will be a big change in FHA loans.  The MIP (mortgage insurance premium) that has typically been part of your monthly payment for a few years will now be included for the life of your loan!  When you get your home loan, this MIP may only increase your monthly payment by perhaps 30.00 - 60.00 a month, but over 30 years it is a lot of money.

 

Please let me know if I can help you find a Tech Terrace or Lubbock home in the next few weeks.  How to get started?  If you have not already, do meet with a lender.  I can provide you a referral.  Send me a detailed list of what you want in a home including size, price range, and preferred location.  I will search Lubbock's MLS and forward matches to you by email. You let me know which you want to see, I arrange appointments and we go tour those homes.  Visit my website at www.marybentonhomes.com to get started. 

 

Partly due to this FHA change, supply/demand, and the season, Lubbock homes are selling fast. Lubbock homes for sale in Tech Terrace are becoming very limited!  If you find a home you really like, you should make an offer.  And if you have a home in Lubbock or the surrounding area to sell, you maximize your prospects by listing now while buyers are trying to beat this FHA loan change deadline.  

 

Tech Terrace For Sale By Owner - I have talked to several home owners in Tech Terrace who are selling their homes on their own and I do have permission to show the homes and to bring & represent buyers.  You don't have to go in on your own without representation if you want to see a Tech Terrace For Sale By Owner home.

 

If you have any questions just send me a note or call.  I am here to help with anything real estate, particularly in Lubbock and surrounding communities and in Tech Terrace.

 

Mary Benton, REALTOR

Keller Williams Realty

806 790 1026

marybenton@kw.com

 

 

 

Multiple Offers on Tech Terrace Homes!

Tech Terrace homes are selling like hotcakes! Today there are only 17 Tech Terrace homes left on the market. This is about half of what the inventory has run since 2008.

This is a CALL TO ACTION for Tech Terrace Home Buyers and Tech Terrace Home Owners!
If you own a home in Tech Terrace and would like to sell but have been waiting for the right time, this is it!

If you want to buy a Tech Terrace home and haven't started looking yet, you'd better get started!
Lubbock's real estate market throughout the city has shifted to a SELLER'S MARKET. There are fewer homes available than there are buyers so seller's don't have to make as many concessions or keep their home on the market for as long as in recent years. (condition and pricing will still impact how long it takes your home to sell!)

This newly established seller's market has been most apparent to me this week in TECH TERRACE in particular and in all homes throughout Lubbock in the 100 - 125K price range. Multiple offers/bidding wars are becomeing more common and buyers who present low offers are frequently having to walk away frustrated and disappointed.

I've been a Lubbock Realtor since 2007, I am a Tech Terrace advocate, former resident, and tremendous REALTOR for you if you are looking to buy or sell a Tech Terrace home. Of course I help folks throughout Lubbock and the surrounding areas with anything Real Estate.
 
Mary Benton, REALTOR
Keller Williams Realty
marybenton@kw.com

Tech Terrace Real Estate Update

See my April 20, 2013 update on Real Estate in Tech Terrace and Lubbock!  Tech Terrace homes are selling.  If you own a Tech Terrace home and have thought about selling, call me!!! 

This link is cool, safe, takes you to my long-established Active Rain blog.  If you are 'link' shy, stay tuned and I'll get you more info right here in Blogger!

http://actvra.in/TKs


Mary Benton, REALTOR
Keller Williams Realty
806 790 1026

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Tech Terrace Inventory Shrinking!

There are only 21 Tech Terrace area homes listed for sale in our MLS today.  The Avalanche Journal and other media sources have reported that Lubbock's housing market is becoming more active and that a shift has taken place from a buyer's to a seller's market.  This trend is reflected in housing in Tech Terrace. 

In recent years it has been rare to have fewer than 28 homes on the market in this wonderful neighborhood near TTU.  Rumor has it that several homes that have gone under contract in recent weeks have had multiple offer.  This trend is great for sellers and not such great news for you if you want to buy a home in Tech Terrace.  HOWEVER, don't dismay there are still good options and most sellers are still willing to be flexible - just not as much in the past.  With more buyers than homes, sellers don't have to make as many concessions as they have in recent years.

Tech Terrace Homes For Sale Overview (as of April 12, 2013). 

Homes listed for sale - 21
Price Range - 92,000.00 through 549,000.00
Average Days on Market - 88
Average Price Per Sq Ft - 90.19

The home that I have listed for sale is located at 3301 21st Street is bargain priced at only 66.87 per square foot.  The lowest price per square foot home in Tech Terrace!  Call me for more info on this one.

If you want to buy in Tech Terrace - call me.  I believe I know the area better than any other Lubbock Realtor.  If you want to sell a Tech Terrace home - absolutely call me.  I appreciate the appeal and value of the older homes in this area while many of my colleagues will say they don't understand why a buyer would pay so much for an 'old' house. 

Serving all of Lubbock, surrounding communities, and especially Tech Terrace - I look forward to helping you with all your real estate needs.

Mary Benton, REALTOR
Keller Williams Realty
806 790 1026
marybenton@kw.com




Mary Benton, Tech Terrace Realtor