Blog

11-2017 Market Report

A recent report from the National Association of Realtors highlights a national trend. The overall inventory of homes for sale, based on a months-of-inventory metric, trends low – indicating a seller’s market. Said the other way, buyers have a low inventory of...

10-12-17 Market Report

Looking at the number of local transactions involving sellers with more than one deal in September, we find 140 transactions (some involving multiple parcels) associated with firms we typically associate with single-family development. See attached. This indicates a...

August 2017 Market Report

Let’s look at our usual metric of number of transactions for sellers normally associated with new construction (i.e. builders and lot developers) for August 2017. We find 141 transactions in August, which is consistent with expectations for completions of early-year...

Lubbock Texas Market Report 07-2017

Looking at grantors transferring more than two parcel during July 2017, grantors that we generally associate with new construction accounted for 131 transfers. This beats the per-month average in 2017 Q2. We note that many of the transfers were multi-lot, meaning that...

Market Report through Q2-2017

New residential construction lead the way in disposition transactions through the first two calendar quarters of 2017. Looking at grantors transferring more than two parcel during each month, grantors that we generally associate with new construction accounted for an...

What Is The Debt-To-Income Ratio (DTI)?

  Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability to repay a loan. Like the video says:  debts are existing financial commitments; a car payment is a debt a grocery bill is not. To calculate...

What Does Ability To Repay Mean?

  What are the “Ability to repay” rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity to pay back their loan over time. It’s a longer-term view that goes beyond immediate income, debt...

What Is A Qualified Mortgage?

  As this video explains,  Federal laws put into effect in 2014 and  supervised by the Consumer Financial Protection Bureau define lending practices and loan terms for a new category called “Qualified Mortgages.” They provide stable loan features for...

What Is A Rate Lock?

  Mortgage rates change constantly through an unpredictable combination of government policies and economic conditions. This video explains the common term ‘rate lock.’ A “Rate Lock” is a guarantee that a lender will honor a specific combination of...

What Is A Certificate of Eligibility, or COE?

  What Is A Certificate of Eligibility, or COE? The COE is the key document that verifies to lenders that someone is eligible for a VA-backed loan. Servicemembers, Veterans and National Guard and Reserve members may apply online or through their lender; most...