Monthly Archives: August 2011

New Hospital To Bring Jobs To Austin

Construction has started on a new rehabilitation hospital with plans for 60 patient beds in South Austin along Ben White Boulevard. The facility will encompass 65,000 square feet and located near St. David’s Hospital. Continue reading

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FHA Lowers Loan Limits

New FHA loan limits in effect starting October 1 will potentially impact the Austin area. The new loan limits are lower than the existing limits, meaning buyers must be cautious to complete their transactions immediately or opt to purchase a house below the new limits. Sellers should be concerned if their home is listed above the new loan limit, as it will decrease the number of potential buyers available to them in the marketplace. Continue reading

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Four Things To Do In Austin This Week

This feature highlights four events or activities in Austin and the surrounding area every week. If you have suggestions for events to be mentioned, please email them to info@missionmortgage.com. 1. Comic, author, and radio personality Paula Poundstone brings her routine … Continue reading

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Austin Rental Market

When rents and occupancy are both moving up as they did in Austin in June, the apartment market is strong. The result is an increase in pent-up demand for home purchases as the cost of renting draws closer to the cost of buying. The higher and faster rents increase, the more people will opt to look at buying as a more financially sound decision. More importantly, the start of new rental projects shows that lending for that type of project has finally opened up after being very tight for the past 4 years. Continue reading

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PMI Mortgage Insurance Company Stops Writing Policies

As of August 19, 2011 the number of private companies offering Mortgage Insurance policies decreased by one as PMI Mortgage Insurance Company was ordered to cease the creation of new coverage. While PMI still manages a large pool of previous policies, without the ability to write new business, the long-term survival of the company is in question.
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What The Fed Can Do

Since QE has not solved the problem to the degree that The Fed had hoped, we wanted to find out what other tools are available to The Fed and we came across a great blog post by Dr. Mark Dotzour from Texas A&M that explains it in a very easy to read list.
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MCE for Realtors – Divorce and Probate Class

Mission Mortgage is sponsoring an MCE class with Milestone Community Builders and presented by Gracy Title. This 1 hour course is designed to provide Real Estate Licensees with knowledge and understanding of the issues that a pending divorce or a divorce in the chain of title can create with respect to real estate ownership, real estate conveying and real estate financing. Continue reading

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Four Things To Do In Austin This Week

This feature highlights events or activities in Austin and the surrounding area every week. We offer up our suggestions for things to do, for the adventurous to the leisurely, we try to find something for everyone. With so much to offer, we can’t list everything, but if you ever have suggestions for our weekly recommendations, we’d love to hear them. Continue reading

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July Austin Resales, Mark Sprague Quoted

Mark Sprague is quoted in a recent Austin American-Statesman article about the state of the Austin housing market and the July resales results. Mark provides his comments about affordability and the stregth of Austin’s economy. July saw a slight downtick in sales from June and a significant (tax credit influenced) increase over last July. Continue reading

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Austin Marriot Marquis to be Largest in City

The Marriot company has announced formal plans to build one of their signature Marquis brand hotels in the heart of downtown Austin. The hotel will be just two blocks from the convention center and will provide an estimated 1,000 hotel rooms. Along with the hotel rooms, the Marriot Marquis plans 110,000 square feet of meeting space, a 4,500 square foot fitness center, and space for multiple retail and restaurant venues. Continue reading

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