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Do Homeowners That Eat BBQ Get Better Home Loans?

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Best cities for borrowers

Salt Lick BBQToday, Forbes released their list of top 10 best cities for borrowers, noting that in the top performing metro areas, buyers get above average mortgage rates because in those areas, the foreclosure rates are low.

The theory is that because people living in these metro areas are more current on their loans, banks are lending more than in the troubled areas like Vegas, and less restrictive lending means better loan terms.

Here are the top 10 cities for borrowers

  1. Kansas City, KS
  2. Houston, TX
  3. Dallas, TX
  4. Virginia Beach, VA
  5. San Antonio, TX
  6. Boston, MA
  7. Pittsburgh, PA
  8. Denver, CO
  9. Seattle, WA
  10. Portland, OR

So let’s do the math

If you do the math, Kansas City (which is famous for BBQ) and three of the top 10 cities featured are Texas (famous for even BETTER BBQ) metros, that makes 40% of the top 10 list and 100% of the top 3 as BBQ eating cities… does that mean that homeowners that eat BBQ have fewer foreclosures? Does that mean that cities famous for BBQ have better loan terms? That sounds like paradise to me- BBQ and less restrictive lending. What do you think??

Lani is the Chief Operating Officer at The American Genius - she has co-authored a book, co-founded BASHH and Austin Digital Jobs, and is a seasoned business writer and editorialist with a penchant for the irreverent.

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14 Comments

14 Comments

  1. Ken Montville

    March 22, 2010 at 9:34 pm

    Wow! If I take my loan officer out for some good ol’ BBQ, does that mean I’ll get a better rate? Should I send some BBQ take out over to the underwriters to make sure I get priority service? But here’s the really important question: is it BBQ or Bar-b-que or Barbeque. I think it’s important to get it right. Dry rub or wet?

    • Lani Rosales

      March 22, 2010 at 10:44 pm

      No, no, no- you have to make sure that all the people you sold homes to get BBQ at least once per week so they don’t default and THEN the local economy blossoms due to the meaty goodness and your NEW clients may then get better rates.

      Just order it online from Salt Lick, they’ll mail it out in these foam boxes, it’s incredible. Or at least get their sauce. MMMMM

  2. Erion Shehaj

    March 22, 2010 at 10:20 pm

    I definitely call BS on that Top 10 list. Houston is first, then twelve empty spots 🙂

    • Lani Rosales

      March 22, 2010 at 10:45 pm

      @erionhouston I call BS on your BS call. Austin is not a metro, it is its own country, so it didn’t qualify for Forbes’ dinky little list. LOL

  3. Erion Shehaj

    March 22, 2010 at 10:52 pm

    I can tell you’ve never been to Goode Company BBQ or Otto’s @LaniAR. When you and Ben head east one of these days, we’ll call Ken and make it a party!

  4. United Country

    March 23, 2010 at 5:50 pm

    So funny! @laniar wonders if people who eat BBQ get better home loans. Although, does TX have better BBQ than KC? No way! https://ow.ly/1pPEq

  5. Century 21

    March 23, 2010 at 7:44 pm

    The best question/answer I’ve heard all day: Do homeowners that eat BBQ get better home loans? https://bit.ly/b1jRzN (@agentgenius)

  6. Stuart Foster

    March 23, 2010 at 7:47 pm

    RT @C21realestate: The best question/answer I’ve heard all day: Do homeowners that eat BBQ get better home loans? https://bit.ly/b1jRzN (@agentgenius)

  7. Annemarie Dooling

    March 23, 2010 at 7:53 pm

    RT @C21RealEstate: The best question/answer I’ve heard all day: Do homeowners that eat BBQ get better home loans? https://bit.ly/b1jRzN ( …

  8. Wendy

    April 2, 2010 at 1:43 pm

    RT @UCRealEstate: Do homeowners that eat BBQ get better home loans? https://ow.ly/1pPEq

  9. ReloMary

    June 30, 2010 at 3:59 pm

    Top 10 Cities for Borrowers (home loans) according to Forbes https://bit.ly/cRRli5

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Austin

Austin tops the list of best places to buy a home

When looking to buy a home, taking the long view is important before making such a huge investment – where are the best places to make that commitment?

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Looking at the bigger picture

(REALUOSO.COM) – Let us first express that although we are completely biased about Texas (we’re headquartered here, I personally grew up here), the data is not – Texas is the best. That’s a scientific fact. There’s a running joke in Austin that if there is a list of “best places to [anything],” we’re on it, and the joke causes eye rolls instead of humility (we’re sore winners and sore losers in this town).

That said, SelfStorage.com dug into the data and determined that the top 12 places to buy a home are currently Texas and North Carolina (and Portland, I guess you’re okay too or whatever).

They examined the nerdiest of numbers from the compound annual growth rate in inflation-adjusted GDP to cost premium, affordability, taxes, job growth, and housing availability.

“Buying a house is a big decision and a big commitment,” the company notes. “Although U.S. home prices have risen in the long term, the last decade has shown that path is sometimes full of twists, turns, dizzying heights and steep, abrupt falls. Today, home prices are stabilizing and increasing in most areas of the U.S.”

Click here to continue reading the list of the 12 best places to buy a home…

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Average age of houses on the rise, so is it now better or worse to buy new?

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aging housing inventory

The average home age is higher than ever

(REALUOSO.COM) – In a survey from the Department of Housing and Urban Development American Housing Survey (AHS), the median age of homes in the United States was 35 years old. In Texas, homes are a bit younger with the median age between 19 – 29 years. The northeast has the oldest homes, with the median age between 50 – 61 years. In 1985, the median age of a home was only 23 years.

With more houses around 40 years old, the National Association of Realtors asserts that homeowners will have to undertake remodeling and renovation projects before selling unless the home is sold as-is, in which case the buyer will be responsible to update their new residence. Even homeowners who aren’t selling will need to consider remodeling for structural and aesthetic reasons.

Prices of new homes on the rise

Newer homes cost more than they used to. The price differential between new homes and older homes has increased from 10 percent traditionally to around 37 percent in 2014. This is due to rising construction costs, scarcity of lots, and a low inventory of new homes that doesn’t meet the demand.

Click here to continue reading this story…

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Housing News

Are Realtors the real loser in the fight between Zillow Group and Move, Inc.?

The last year has been one of dramatic and rapid change in the real estate tech sector, but Realtors are vulnerable, and we’re worried.

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zillow move

zillow move

Why Realtors are vulnerable to these rapid changes

(REALUOSO.COM) – Corporate warfare demands headlines in every industry, but in the real estate tech sector, a storm has been brewing for years, which in the last year has come to a head. Zillow Group and Move, Inc. (which is owned by News Corp. and operates ListHub, Realtor.com, TopProducer, and other brands) have been competing for a decade now, and the race has appeared to be an aggressive yet polite boxing match. Last year, the gloves came off, and now, they’ve drawn swords and appear to want blood.

Note: We’ll let you decide which company plays which role in the image above.

So how then, does any of this make Realtors the victims of this sword fight? Let’s get everyone up to speed, and then we’ll discuss.

1. Zillow poaches top talent, Move/NAR sues

It all started last year when the gloves came off – Move’s Chief Strategy Officer (who was also Realtor.com’s President), Errol Samuelson jumped ship and joined Zillow on the same day he phoned in his resignation without notice. He left under questionable circumstances, which has led to a lengthy legal battle (wherein Move and NAR have sued Zillow and Samuelson over allegations of breach of contract, breach of fiduciary duty, and misappropriation of trade secrets), with the most recent motion being for contempt, which a judge granted to Move/NAR after the mysterious “Samuelson Memo” surfaced.

Salt was added to the wound when Move awarded Samuelson’s job to Move veteran, Curt Beardsley, who days after Samuelson left, also defected to Zillow. This too led to a lawsuit, with allegations including breach of contract, violation of corporations code, illegal dumping of stocks, and Move has sought restitution. These charges are extremely serious, but demanded slightly less attention than the ongoing lawsuit against Samuelson.

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