The Bank Note - April 2021
Connecting with Shareholders of Alliance Bank Central Texas
April 2021
Message from Todd Moore
Waco’s real estate market is hot! Home sales are up 13% for the first quarter, year over year. The average sales price is up 13% as well, selling at 98% of list price. With more buyers than sellers, many homes sell quickly and at, or above asking price. Find out in “Here for your Real Estate Needs” how a bridge loan can help you navigate a purchase in this dynamically competitive real estate environment. Thanks, Ashton Gustafson, for providing us your real estate report this month, and for all that you do to support our bank. Learn more about him and his company in the Business Spotlight.
In 20 Questions this month, meet Ivan Olvera. Have you ever seen a body of water that is so still that the surface looks as smooth as a mirror? That’s Ivan. He never gets ruffled or shaken. He provides outstanding customer service in our operations area, especially with treasury management and mobile banking products. Providing those services is critical to our ability to manage complex commercial relationships and grow the bank. We are very fortunate to have Ivan on our team!
Our lobbies are open and we are here to serve!
Let me know if we can help with anything, banking or otherwise!
Hit us up at AskAlliance@alliancebanktexas.com or give me a call on my cell at 254-722-2300.
Todd Moore
Chairman & CEO
Here for your Real Estate Needs
The Waco real estate market remains competitive and we are eager to help you with your real estate lending needs. We are fully equipped with in-house real estate options, including permanent financing for homesteads or investment properties, interim construction loans, home improvement loans, and bridge loans.
Bridge loans can be used when you want to use the equity in your existing home as your down payment for a new home, but you want to purchase or construct the new home before selling the home you live in. In a fast moving market like ours, bridge loans provide many borrowers the opportunity to move quickly when they find a house they want to buy. After selling your previous home, the equity is used to pay down the loan by an agreed amount before placing the mortgage on permanent financing.
A strong partnership with our secondary market mortgage vendor provides borrowers with extremely competitive rates for long-term, fixed-rate mortgages, and Caitlin Barber does an excellent job of guiding our clients through this process. Reach out to her at Caitlin.barber@alliancebanktexas.com for more information about our secondary market mortgage options for home purchase, refinance or home equity loans.
If you have questions about the lending process, or just want to discuss your goals and how we might be able to help you achieve them, reach out to anyone on our team or send an email to AskAlliance@alliancebanktexas.com. We look forward to helping you!
Robust Real Estate Market
Have you noticed that homes in Waco don't stay on the market long? With the average length a property on the market tracking just shy of two months, real estate moves fast in McLennan County! In fact, home sales are up 13% compared to March 2020. For this and more, check out the Waco MLS 2021 March Report prepared by Ashton Gustafson at AG Real Estate & Associates.
Waco MLS 2020 March Real Estate Report
20 Questions in 30 Seconds
When Ivan Olvera, customer service supervisor, began searching for opportunities that would support professional growth, he found that the customer service team at Alliance Bank was the right fit. Click below to read about what motivates him, how he motivates others, what sentence uses every letter in the English language, and more.
Business Spotlight
Ashton Gustafson followed in his grandparent’s footsteps to pursue a career in real estate. In 2010, Realtor Magazine named him one of the top 30 agents in the U.S. under age 30. For the past decade, AG Real Estate and Associates has been helping Central Texans buy and sell residential, commercial, and farm and ranch real estate.
PPP Update: Program Extended to May 31, 2021
The deadline to submit PPP applications to the SBA has been extended to May 31, 2021. If you are contemplating PPP loan, please act now! The bank must review the application and make sure it is accurate and complete before submitting the loan to the SBA. It is important that we have time to work together through the application process.
For additional information regarding PPP loans and for a copy of the applications, please visit www.alliancebanktexas.com/ppp or e-mail AskAlliance@alliancebanktexas.com.
Congratulations to Baylor Basketball
What an exciting time for our community to cheer our basketball teams to a Big XII Championship title and a National Championship title!
Sic 'em!
And, our Alliance Bank Central Texas Bear alums say "Sic 'em," too!
Employee Birthday Celebrations
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April Celebrations |
Archived Bank Notes