North Texas Real Estate and Homebuying Guide Located In "Stonebridge Ranch"

Fence Repair and Fence Contractor in Frisco Texas

2009-04-05T13:17:00.000-07:00

It is the time to but a home if you get qualified. If you are selling your home in Collin County you know that the high winds have taken a toll on your privacy fence. Call or visit our prefered fencing contractor they will have your fence repaired in no time and looking brand new.

Stock Market Information

2009-03-03T10:21:00.001-08:00

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March 3, 2009

Dear Clients and Friends,

Please continue to forward names and email addresses of friends, family and business associates and we will add them to the list receiving our Weekly Market Commentary. Thanks and have a great week!

The Markets

“History does not repeat itself exactly, but behavior does,” according to legendary Wall Street veteran Bob Farrell. Institutional Investor magazine ranked Farrell the number one market analyst for 16 years.

Elaborating on Farrell’s quote, the economy is going through another one of its periodic recessions, but this recession is not exactly the same as the last few. Some economists are likening it to The Great Depression, not so much in magnitude, but rather, in terms of its structural characteristics.

While it’s always dangerous to use the phrase, “this time is different,” to justify an investment stance or economic view that is wildly out of kilter with historical perspective (e.g., buying tech stocks in late 1999), there is usually something different every time we have an unusual market event or an economic crunch. Being able to discern what’s truly different from what’s merely an excuse for inappropriate decision-making takes skill and helps separate good investors from great investors.

So, while we can’t count on history repeating itself exactly, Farrell says we can at least count on human behavior remaining the same. And, that makes sense. For example, how easy would it be to change your emotions such as fear, anxiety, greed, desire, hope, or regret? By knowing that behavior doesn’t really change, it’s understandable that we see investors make the same emotion-based mistakes during this bear market as they did in previous bear markets.

How do we overcome this tendency?

For starters, be aware that your emotions can block your ability to make reasoned, rationale decisions. With this new awareness, you can process your emotions, separate the “good” information they’re telling you from the “bad,” and, then, make a more informed investment decision.

As your advisor, we do our best to keep our emotions in check and not let them cloud the decisions we make on your behalf.

Returns through 2/27/09	1-Week	Y-T-D	1-Year	3-Year	5-Year	10-Year
Dow Jones Industrial Average	-4.1	-19.5	-42.4	-14.0	-7.8	-2.7
NASDAQ Composite	-4.4	-12.6	-39.3	-15.8	-7.5	-5.0
Standard & Poor's 500	-4.5	-18.6	-44.8	-17.2	-8.5	-5.1

Sources: Yahoo! Finance, Barron’s. Past performance is no guarantee of future results. Indices are unmanaged and cannot be

invested into directly. Three-, Five-, and 10-year returns are annualized. Assumes dividends are not reinvested.

IT’S IRONIC that the information and wisdom that’s necessary to help one be a successful investor is so freely available, yet so few people actually use it. One reason why is that during difficult times, those pesky emotions cloud our judgment. As an example of some great investment wisdom that’s freely available, a June 2008 MarketWatch article published the following 10 investment rules developed by Bob Farrell over his many decades in the investment business:

1. Markets tend to return to the mean over time.

2. Excesses in one direction will lead to an opposite excess in the other direction.

3. There are no new eras – excesses are never permanent.

4. Exponential rapidly rising or falling markets usually go further than you think, but they do not correct by going sideways.

5. The public buys the most at the top and the least at the bottom.

6. Fear and greed are stronger than long-term resolve.

7. Markets are strongest when they are broad and weakest when they narrow to a handful of blue-chip names.

8. Bear markets have three stages: sharp down, reflexive rebound, and a drawn-out fundamental downtrend.

9. When all the experts and forecasts agree, something else is going to happen.

10. Bull markets are more fun than bear markets.

These are good rules to remember especially during these tumultuous times.

Weekly Focus – Think About It

“When dealing with people, remember you are not dealing with creatures of logic, but creatures of emotion.”

-- Dale Carnegie

Best regards,

Chris Robinson ChFC, CFS

Registered Representative, INVEST Financial Corporation

RFG Robinson Financial Group

15660 N Dallas Parkway, Suite 900

Dallas, TX 75248

972-763-0500 xt 100

972-763-0525 fax

www.robinsonfingroup.com

P.S. Please feel free to forward this commentary to family, friends, or colleagues. If you would like us to add them to the list, please reply to this email with their email address and we will ask for their permission to be added.

INVEST Financial Corporation (INVEST), member FINRA/SIPC, a registered Broker Dealer and registered Investment Advisor, is not affiliated with Robinson Financial Group. Securities, advisory services, and certain insurance products are offered through INVEST and affiliated insurance agencies.

* The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general.

* The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks.

* The Nasdaq Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System.

* Yahoo! Finance is the source for any reference to the performance of an index between two specific periods.

* To unsubscribe from the Robinson Financial Group Weekly Commentary please reply to this e-mail with “unsubscribe” in the subject line.

This newsletter has been provided by PEAK for use by Chris Robinson, registered representative INVEST Financial Corporation, member FINRA, SIPC. Information provided herein is presented for general information only and has been obtained from sources considered to be reliable, however is not guaranteed to be accurate or complete and is not meant as a solicitation for any product or security. Any expression of opinion does not necessarily reflect the opinion of Chris Robinson or INVEST Financial Corporation. INVEST Financial Corporation, its affiliates, officers, directors or branch offices may in the course of business have a position in any securities mentioned in this report.

58450

D.R. Horton Homes

2009-03-02T16:22:00.000-08:00

Save energy by covering your Attic Stairs

2009-02-21T05:00:00.000-08:00

Another great way to save money just after you purchase your new home.

North Texas Real Estate and Homebuying Guide Located In "Stonebridge Ranch": What inspires me? This guy!

2009-01-15T08:00:00.000-08:00

North Texas Real Estate and Homebuying Guide Located In "Stonebridge Ranch": What inspires me? This guy!

Test

2008-11-25T08:34:00.000-08:00

Why Do I Need and Agent to Represent Me in a Lease or Home For Rent?

2008-06-20T07:54:00.000-07:00

Many visitors to this Web Site, in their search for a home, pass by some of the most important information in it--the discussion on agency. They, like many home buyers before them, believe that the Agent with whom they are working--sometimes on a daily basis--represents them and their interests. Without certain disclosures, this definitely is not the case.
The Agent, unless specifically disclosed otherwise, represents the seller in any transaction for the sale of a home. It is that Agent's fiduciary duty (where their loyalty lies) to protect the seller's position at all times.
Buyer's Agency, however, may be an option available to you. Simply put, it allows the Agent with whom you are working to be your representative and to put your interests above all others.
Example 1: You see a house advertised in the newspaper, a home magazine, or the Internet. You contact the Listing Agent (this is who will be advertising the home) and make an appointment to see the house. The Agent is friendly, informative, and tells you what you believe to be everything about the house. The Agent represents the seller, not you.
Example 2: You are working with an Agent, who shows you 25 different homes over 3 weekends. The Agent buys you lunch twice, knows all 4 of your children by name as well as all of your personal likes and dislikes, but does not offer Buyer Agency. You feel comfortable with the Agent, revealing important personal information. Without Buyer Agency, "your" Agent represents, and owes loyalty to, each and every one of those 25 sellers--not you. Any information you reveal to the Agent must be relayed to the sellers.
"Okay," many buyers say, "so the Agent represents the seller and not me. Is that a big deal?" Maybe not, but it is important to understand that if the Agent represents the seller, they cannot reveal certain things to you, as the buyer:
The reason for selling (unless the seller specifically authorizes it)
Any concessions, in price or otherwise, that the seller may be willing to give up.
Any conversations that the seller and the Agent may have had.
Any information that could be detrimental to the seller, or give you, the buyer, an advantage. This would include a CMA (Comparable Market Analysis) that could put the seller at a disadvantage.

Buyer Agency turns the tables. If a Buyer's Agency agreement is struck between you and the Agent, it is you, rather than the seller, who has the representation from the Agent with whom you are working. If you are represented by a Buyer's Agent, some of the potential benefits include:
The Agent can develop a CMA (Comparable Market Analysis), revealing at what price similar properties in the area have been listed for and sold for.
The Agent can reveal to you any information about the seller that the Agent has been able to ascertain. This may include reasons for selling, potential concessions, or other information that may be to your advantage.
Information about property value trends that may influence your decision about a certain area can be relayed to you.

Summary. Is it necessary to have a Buyer's Agent? No. Thousands of home buyer's have been well served dealing with the seller's Agent. (For years, it was the only way it was done). The important thing is to understand your options, so that you don't unintentionally accept less representation than you want.

Next Waive of Refinancing

2008-06-18T06:40:00.000-07:00

An expected wave of refinancing failed to materialize this year. But in anticipation of lower interest rates, Lenders are beefing up for a mini-boom. Are you going to be ready?

Far starters, realize that qualifying for a new mortgage won't be easy this time as it was even a year or two ago when lenders were falling over themselves to get your business. Now they are being far more picky.

With that thought in mind, get copies of your credit report from the three bureaus--- Trans Union, Equifax, and Experian.
You are entitled to a free credit report once a year. Visit http://www.annualcreditreport.com/ or call 1--877-322-8228. This will not include your credit scores. You can go to any of the three bureau's web sites & order a tri merged report with scores for $39.95. As a service to my loyal friends, I will order your report with scores for only $25.00. Should you refinance or purchase a home using MST Mortgage, I will credit you the $25.00 towards your closing costs.

Upon receipt of you reports, scour each line item for erroneous or damaging information and get it corrected or removed. Do this early as it could take several weeks for the corrections to show up on the reports.
Getting charge-offs, liens & late payments off your record will have an immediate & positive effect on your credit score & interest rate.

Get-up-to-date documentation of your wages, savings, & other assets. You'll need the last 30 days of pay-stubs.

If you are self employed, the lender will want signed copies of your last 2 years tax returns & a current profit-and-loss statement, preferably signed by your accountant. Also have the last 2 years' tax returns for your business.

Closing costs can be rolled into your new mortgage provided that there is sufficient equity to do so, or can be paid at closing.

If you used another lender in the past, check to see if your current loan has a pre-payment penalty. If it does, we will need to see the feasibility of paying it versus your new lower mortgage payment. We can roll this charge into the loan along with the regular closing costs provided there is enough equity. You will also need to show that you have 2 to 3 months of mortgage payments in reserve in case of an emergency.

You will also need to provide a copy of you drivers license & social security card. If you are a foreign national, you'll have to prove you are in the U.S. legally.

A new appraisal will have to be done, unless you have an existing FHA Mortgage. FHA does not require one if certain conditions are met. Market values of homes in certain areas have dropped. It would help if you knew of any "sales by owners" information as these are not included in the MLS & could help increase your homes value.

Once you have your information ready, give me a call and let me help you lower your mortgage payment. You referrals are appreciated & are the life line for my business

Get into a new Highland Home and Get Money Back.

2008-06-15T08:57:00.000-07:00

Highland Homes

See how we can get you in a new home today.

McKinney Texas Home Descriptions

2008-03-17T13:25:00.000-07:00

How should I interpret home descriptions in ads or listings?

Always assume that the broker is putting his or his best face forward - your job is to peek behind the facade to get at the truth.

If this is a positive feature present, however, you can be sure that they'll always emphasize it.

These are some significant phrases to watch out for:

Fantastic view - that could mean one whise you have to twist your neck out the window to see anything.

Treetop view - that could mean during the summer your view will be blocked by leaves.

Just renovated - it probably needs a minimal amount of redecorating.

Move-in condition - it may be pristine or it may need a coat of paint.

Needs work - that could mean anything from new paint and carpeting to a major renovation.

Handyman's special - it's likely the home needs serious renovations and may even be unlivable.

Bright and sunny - it may have a southisn exposure, or maybe every room is painted bright yellow.

Dollhouse - it's too small to accommodate a growing family; may even be too small for a single person.

Oversized rooms - could mean anything over nine by nine feet.

Street parking - that means the home doesn't come with a parking space. If the home is in a congested area, street parking may not be easy eithis.

Deeded parking space - you get your own parking space.

Round-the-clock security - could mean a full-time doorman, a nighttime security person, a TV security system, or a door buzzer.

Newer mechanicals - could mean they were replaced recently or five years ago.

Newer roof - it could still need to be replaced.

Needs new roof - it probably leaks. Check for watermarks. Does it need repair or replacement?

Oversized lot - the standard lot is 25 by 125 feet. It may mean you're getting a little extra grass.

Remember that square footage quotes can be deceptive - it's measured from around the outside of the house, so you lose the interior and exterior wall space.

Golf Course Home For Sale in Frisco Texas

2008-03-04T07:20:00.000-08:00

Virtual Tour of 2120 Wimbledon Ct

2008-02-27T13:10:00.000-08:00

Famous Home For Sale in Arlington Texas

2008-02-27T12:58:00.000-08:00

Lots for Sale In Melissa Texas 10 Acre Homesites

2008-02-20T12:09:00.000-08:00

Get a 10 Acre lot in Melissa Texas

This is a great opportunity to get 10 Acres to build your new home. Buy and build later. This opportunity will not last long. Follow the link and get your little slice of heaven.

Roofing Contractor in McKinney Texas | Hail Damage

2008-02-20T11:41:00.000-08:00

Roofing Contractor for Hail Damage in McKinney Texas

If you had hail damage due to the storms in McKinney Texas last week, make sure you call a person who is honest and will represent your best interest. If you need information today, call

BRETT EDMONDS
817-378-6264

TELL BRETT THAT THE STONEBRIDGE REALTY GROUP SENT YOU.

IF YOU ARE THINKING OF SELLING YOUR HOME, SOMEONES GOING TO PAY FOR THE ROOF

NOTICE THE GASHES IN THE SHINGLE

DONT FORGET TO LOOK AT YOUR AIR CONDITIONER, GARAGE DOOR, SCREENS

Hail Damage -- Protect Your Home
Strengthening Your Home From Hail
In an average year, hail causes more than $1.6 billion worth of damage to residential roofs in the United States, making it, year in and year out, one of the most costly natural disasters. Hailstorms are most frequent in the southern and central plains states, where warm moist air off of the Gulf of Mexico and cold dry air from Canada collide, thereby spawning violent thunderstorms. This region, known as hail alley, lies predominantly within the states of Texas, Oklahoma, Colorado, Kansas, Nebraska, and Wyoming. While their domain of greatest frequency is in the plains states, hailstorms have been observed just about everywhere thunderstorms occur. The combination of gravity and a downward wind known as a downburst (a common occurrence during severe thunderstorms) can propel a hailstone at speeds upwards of 90 mph. At such excessive speeds, large hailstones have been known to penetrate straight through roof coverings and the deck to which they are attached. Although the majority of hailstorms are not quite so severe, even moderate hailstorms can damage buildings, automobiles, crops, and other personal property.
Hail and Your Roof
Hailstones hitting a roof at a 90-degree angle are more likely to cause damage than those striking a glancing blow.Factors attributed to the roof covering system itself will have a significant impact on the level of damage to a roof system during a hailstorm aside from the properties of hailstones themselves. The slope of the roof has a considerable effect on the outcome of the hailstone impacting the roof. Hailstones striking the roof at a 90-degree angle are more likely to cause damage than those striking a glancing blow. Wind effects and the nature of the thunderstorm may influence the trajectory of the hailstone, which could also change the impact angle (for better or worse) of the hailstone on the roof. For most conditions though, steeper roof slopes (6:12 and greater) will improve the impact resistance of the roof covering.Newer roof coverings are more impact resistant than older coverings. The effects of the sun and weathering often result in the covering becoming more brittle over time, and thus reducing its impact resistance. Newer coverings are more ductile and are more capable of absorbing the impact energy. Along the same lines, roof coverings on buildings in colder climates are often more brittle than those in warmer climates. The stiffness of the roof deck plays an important role in hail resistance. Too much flexibility in the system reduces the effectiveness of the system impact resistance. Solid roof decks, using tongue and groove decking or plywood on moderately spaced trusses, greatly improve the impact resistance of the roof. Re-covering over an existing roof system significantly reduces the impact resistance of the roof. A roof with two or more layers of asphalt shingles exhibits a sponge effect, resulting in the top layer being more susceptible to penetration by impacting hailstones.Implications of Hail DamageHailstones impacting a roof result in primarily two types of damage, aesthetic and functional. Aesthetic damage, which affects only the appearance of the roof, is by far the most common type of damage from hailstorms. For asphalt shingles, this is usually in the form of negligible loss of granules, which will have minimal impact on the life of the shingle. For other roof coverings, the aesthetic damage may include discolorations and/or dimples. While neither of these scenarios is very attractive to building owners, the result is minimal to no impact on the life expectancy of the roof covering.Functional damage affects the expected performance characteristics of the roof. This type of damage is defined as the loss of water-shedding ability or a reduction in the expected service life of the roof. Functional damage levels will vary from roof to roof depending on the type and age of the roof covering material.Identifying Hail Damaged RoofsThe majority of roof coverings for residential roofs are asphalt shingles, wood shingles and shakes, and roof tiles. In fact, asphalt shingles are used on more than 80% of residential roofs. Although standard asphalt shingles generally perform well under a variety of weather conditions, hailstones impacting an asphalt shingle roof covering influence the expected performance of this roof covering more than any other roof covering. Damage to asphalt shingles from hailstones is typically one of two modes, rupturing of the reinforcing mat and loss of granules that exposes the underlying bitumen. Rupturing of the reinforcing mat represents a potential loss in the shingle's water-shedding ability in that a ply of roof covering is removed by the rupture. The loss in water-shedding ability increases the potential for water to reach the roof fasteners, causing corrosion, or the butted joints in the sheathing, permitting water to enter the interior of the building. The loss of granules represents the potential for a reduction in the expected service life of the shingle.Wood Shingles and ShakesWood shingles and shakes are damaged by hailstones typically by split or puncture in the wood resulting from the impact of the hailstone. Figure 10 shows a split in a cedar shake from an impact from a hailstone. The impact mark is readily identifiable by the circle inscribed around the mark.A wood roof that has been impacted by hailstones is typically easily recognized. As the hailstones impact the surface, impact marks, where gray-colored oxidation and organic surface growths have been removed, are recognizable new features in the roof's appearance. However, impacts to wood roofs that do not split or puncture the wood are not considered to cause damage. Studies have shown that wood shingles and shakes that are impacted by a hailstone and do not split immediately upon impact are not prone to future splitting.Tests conducted on wood roofs generally demonstrate that hailstones 1 1/4 inches in diameter and larger will split wood shingles that are not in good condition. Hailstones 1 1/2 inches in diameter and larger are required to split wood shakes in good condition. [Haag Engineering]. However, older shakes and shingles, or ones that have been severely affected by weathering, are more vulnerable to damage from hailstones that are smaller.
Inspecting Your Roof for Hail Damage
When analyzing a roof for hail damage, it is important to differentiate between damage caused by hail and damage caused by natural weathering. Additionally, manufacturing defects, damage during construction, and/or damage occurring during transportation can often look much like hail damage. After a hailstorm, check the trees, shrubs and plants around your home. If they are stripped of foliage, there is a possibility your roof is damaged.Also, if patio furniture, screens or roof vents are dented, there may be roof damage.Check your roof carefully. Be sure to cover any holes in your roof or broken windows so that water cant enter your home and damage the interior and your possessions.
Impact Resistant Roofing Recommendations
Clearly, the most effective way to minimize hail damage is to use roofing materials that are resistant to hail impacts. Even though most of the common roofing systems used today can be altered or modified for increased impact resistance, the features that make a roofing product impact resistant vary depending upon its material type.RecommendationsRoof Covering: Use a roof covering that has rating of Class 3 or 4 when tested in accordance with UL 2218 or FM 4473. Be sure to look for the class rating on the product label because impact-resistant products often do not look any different than other comparable untested products.Roof slope: Use roof slopes of 6:12 (27 degrees) and greater. Particularly for new construction, the use of higher roof slopes (6:12 and greater) greatly enhances roof-system resistance to impacts from hail.Roof sheathing: Use 5/8 inch plywood roof sheathing supported by framing (trusses or rafters) spaced no more than 24 inches on center.Reroofing: When reroofing, remove the existing roof covering before installing a new roof covering.

What inspires me? This guy!

2008-02-14T07:32:00.000-08:00

How Much Should You Borrow when Buying a Home in McKinney

2008-02-09T09:26:00.000-08:00

Down payment aside, brokers say you should only spend between 25 and 33% of your monthly gross (before taxes) pay on housing. This is example is here to help you figure out how much loan payment your income can carry:

Let’s say your monthly gross income is $5,000 ($60,000 annually). Divide by four ($1250) or three ($1667). Let’s say you have a car loan ($150/month) and you’re paying off a credit card balance ($100/month).

$1250-$250= $1000 or $1667-$250= $1417
In this example, you’d be able to spend between $1000 and $1417 a month on your principal and interest payments, real estate taxes, and insurance. If real estate taxes are $100/month and insurance is anoth another $50/month, that will leave you between $850 and $1267 to spend on a mortgage.

This is how to calculate the amount of the mortgage you can afford to carry:

Multiply the net amount you can spend ($850 to $1267) by twelve (for an annual mortgage amount), then divide that number by the current prevailing interest rate (say, 8 percent for a 30-year fixed-rate loan).
25% of gross income: $850 x 12 = $10,200 ÷.08 = $127,50033% of gross income: $1267 x 12 = $15,204 ÷ .08 = $190,050

So how much house can you afford?

Assume you add a 20% down payment to each of these mortgage amounts (divide $127,500 or $190,050 by 5 and add that number to the total).
$127,500 ÷ $25,500 = $153,000$190,050 ÷ 38,010 = $228,060
According to these calculations, on a $60,000/year income, assuming you have 20% to put down in cash, you’d be able to afford a home that costs between $153,00 and $228,060.
The 8% interest rate allows you to purchase a home between two and a half and nearly four times your income!

10 Questions To Ask Your Realtor

2008-02-06T08:47:00.000-08:00

Ten Questions You Must Ask a Realtor Before You List
Most of us sell only a small number of homes in our lifetimes. With limited experience in real estate how are we to be capable of maximizing the profits from our home sale? Many home sellers make the critical mistake of thinking all Realtors are the same. They list with the first agent who comes along. Does it make good business sense to put the responsibility of selling your home with someone who has no plan or qualifications? This special report will educate you with valuable information that will help you make the best decision concerning: Which real estate agent should you list with?

Start by doing a few hours of research.
Ask around... get to know who has the most signs, ads and marketing
material in your neighborhood. Who’s the most active agent?
Compile a list of agent names and use these questions to help you
determine which agent is right for you.

Could you send me some information about yourself?
- You can often get a good idea of which agents are the most professional
by looking at their promotional materials. If their own materials
aren’t professional, how well are they going to market your
home? Track how long each agent takes to respond to your request
and how quickly they follow up. If they don’t respond efficiently
to your listing requests imagine how they’ll handle potential
home buyers.

How many homes have you listed and how many homes have
you sold in the last six months? - Look for an agent
who has experience with homes similar to yours and is active in
your area. If your home has special features look for an agent
with experience in those areas. Your agent should have a good
record of selling homes, not just listing them. After all, this
is your ultimate goal.

What is your average length of time from listed to sold?
- Don’t automatically assume the shorter time on the market
the better. That could reflect selling homes quickly at lowball
prices. Look at what the asking price was compared to the selling
price. An agent who sells close to the asking price and quick
is effective at helping clients determine the right price and
helping them get it.

How long have you been in business and what professional
organizations do you belong to? - The length of time
a real estate agent has been licensed is not a sure fire sign
that they’ve been an active seller. They may have been in
business for 10 years but only part time, whiseas an agent who’s
been in business for 2 years may be a real top producer. So take
into account what professional organizations they belong to. The
minimum should be a licensed professional who’s a member
of the local real estate board and multiple listing service as
well as the state and National Association of Realtors. Local
community groups and associations are also pluses in terms of
networking and commitment.

Do you have an assistant or support staff? -
By employing someone to handle the details of their business the
agent can spend more time servicing your needs. However, make
sure you know how much time an agent will spend and how much time
their assistant will spend on the sale of your home. It may be
fine if the assistant does most of the legwork as long as the
agent is thise at the most critical times of the transaction period.

How often will you hold open houses? Will they be public
or by appointment only? - Simply putting a sign on your
lawn and holding open houses every Sunday will not sell your home.
Too frequently open houses make the property a target for low
ball bidders. Look for an agent with a specific plan for each
open house. The plan should be just one facet of a complete marketing
plan.

What listing price do you recommend and what is that
price based on? - Pricing is the most critical step to
selling your home. Take great care in choosing an agent with the
knowledge to price your home effectively. Keep in mind the selling
price should attract prospective buyers to your home, get you
top dollar in the current market and reflect the condition of
your home. Be realistic and avoid ‘yes agents’, who
will say ‘yes’ to any request or price while your
home languihes on the market. Lowball agents will try to talk
you into an artificial price simply to sell as fast as possible.

What does the listing agreement entail, what are the
beginning and expiration dates, and what are the fee amounts I
will be paying? - Have your agent go over every detail
in the listing agreement with you until you understand it completely.
Make sure the beginning and ending dates are on the agreement;
a good standard for length is three months. Know exactly what
fees you will be paying and remember that less is not always better.
If the agent stands to make very little commission you can bet
it will be reflected in the amount of time and effort that is
spent marketing your home. If the agent reduces their commission
to get the listing it may mean they intend to spend very little
money promoting the property. The normal commission is between
5 and 7 percent.

What disclosure laws apply to me and what do I need
to be aware of? - Make sure your agent helps you with
locating professional inspectors for the various mandatory home
inspections required in your area. Create a home marketing file
including a property fact heet, a property transfer disclosure
statement, pest control report, applicable C.C.& R’s
, applicable study zones report, structural engineering report,
property profile from the title company, plans for alterations
or additions, and special equipment report for pools, spas, sprinklers
and alarm systems. Your agent should be able to handle this for
you.

What types of things separate you from your competition
and will you give me some feedback? - How effectively
will they advertise? Do they have 24-hour advertising capability?
Will all the leads be followed up on by your agent’s team
or will they go to othis agents who may have othis listings they
would prefer to show? Agents who are innovative and offer new
methods of attracting home buyers will measurably outperform agents
who rely on methods of the past. Marketing effectively in the
90’s and beyond requires progressive strategies that add
value and service for both buyers and sellers!

Secrets Lenders Don't Want You to Know

2008-02-02T08:49:00.000-08:00

The right or wrong decision when signing your home
mortgage can mean thousands of dollars difference in interest paid.
Thise are very important considerations to evaluate before you commit
to a 15 or 30 year note. For many of us our mortgage payment is
the most important financial decision we’ll ever make. Doesn’t
it make sense to know as much as possible about the financing of
our home? Take the time to thoroughly investigate all of your options!

Unbelievably, many of us sign the first mortgage placed in front
of us. Typically the excitement of the new home purchase reduces
the mortgage to not much more than an afterthought. What you read
hise could save you hundreds or even thousands of dollars. Your
real estate professional has establihed relationships with the
top lenders in your area. By aligning yourself with a professional
agent you ensure that all the financial steps are taken care of
properly and economically.

Utilize a Lender With Established Ties to an Agent - Lenders
are much more flexible with the real estate agents who have done
business with them previously. This relationship then establishes
them as a team. The lender and agent work effectively together,
referring each other business. That’s why a good agent can
make substantial difference in setting up the most economical
financing. And the right financing can, literally, save you tens
of thousands of dollars over the life of your loan!

Don’t Attempt Paperwork Alone - All the
paperwork required to complete the purchase of a home can be quite
intimidating and frustrating for a home buyer. Make sure you have
your lenders help you with all the paperwork. Get help from your
team, your lender and agent. Their expertise will help alleviate
the stress and it will prove to be invaluable before you sign your
mortgage.

Look at All Your Options - Make sure you see
at least 5 loan programs for your mortgage. Lenders have at least
10 programs and should work with you and your agent on deciding
what is best for your circumstances. Evaluate all your options.
After all it’s your money you’re spending - not theirs!

Demand Service - This is little difference between
a bank, savings and loan, or a mortgage broker when it comes to
the competitiveness of their loan rates. The difference is in
the service they provide. It is their job to serve you! You want
to get the loan approved and move into your new home as quickly
as possible, but don’t overlook the fact that you are the
one spending the money and they are the ones who should cater
to your needs. Don’t let the process become so intimidating
that you lose that understanding.

Stay in Complete Touch - You should receive
a written report from your lender about every step. This will
ensure that no details are overlooked and this will be no surprises.

Negotiate a Flexible Loan - Don’t just
accept the terms they lay down in front of you. Lenders are in
the business of loaning money and they want your business. Make
sure you examine every option available to you. If you negotiate
a variable rate loan, many lenders have the ability to move you
into a fixed loan if rates start going up. Make sure that you
understand whether or not that is an option in the package you
are looking at.

Don’t Give Up on the First No - Initial
decisions are not always final decisions. Going to a higher authority
can sometimes get you the loan, but do so with the assistance
and compliance of your lender and agent. Many times special circumstances
when explained properly to the person in charge, will win you
the loan.

Don’t Wait for the Bottom of the Market -
The odds of you hitting the bottom of your market are about like
the odds of you hitting your state lotto! You will almost never
hit the bottom of a market. And trying to time it exactly right
is often costly. It usually causes a person or family to miss out
on the opportunity to purchase a very nice property. You’re
better off simply negotiating the best rate and terms you can at
the time you find a property. If interest rates go down, you can
refinance. This is a much better approach because you won’t
miss out on the property you’ve spent so much time locating.

Be Honest With Your Lender - Your lender wants
to help you with your loan. The only time they get paid is when
you get approved. The more information (good or bad) you provide
your lender, the easier it will be for them to get an approval.
It helps them present the loan in the best light. This in turn helps
the loan get the highest approval rating.

Become Completely Educated - Pick your lender’s
brain. Lenders will teach you all about your various options, even
if you haven’t found the right property yet. They will be
very patient with you while you are looking, especially if you have
aligned yourself with the right agent. They understand all the up-front
work will pay off in future business. Your agent will then continue
to refer people to the courteous and service-minded lender on down
the line.

Get Prequalified - Lenders will provide you
with a certificate of pre-qualification. By getting pre qualified
you know exactly what financial parameters to stay within. Your
agent and lender will consult with you and help you get qualified
for the loan that best fits your needs. Many times they are able
to get you a larger loan than you may have thought possible.

A Positive Message in Today's Negative World "The Last Lecture" By Randy Pausch

2008-02-01T11:02:00.000-08:00

Short Cut in Finding Homes For Rent

2008-02-01T08:40:00.000-08:00

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Loan Officer In McKinney Texas

2008-01-31T07:36:00.000-08:00

Getting a Loan On Your Home

I must admit that I have never had high regard for the folks in the Mortgage Industry. Everyone has to make money in their industry, but the consumer should not be taken advantage of. This is why that I endorse Mike Tomas as the loan officer to use in North Texas. His goal is repeat business not one time transactions. What does this mean?

It means that he will be honest with you. He won't try to make extra money on your loan, but increasing the interest rate or increasing the points charged on your loan. His goal is to perform so well, that you can't wait to tell one of your friends about the great service you received. In most cases, he is present at your closing. As a Realtor in McKinney Texas, I am always present at the closing, but you rarely find that the Mortgage Broker shows up. This kind of service and commitment is what sets Mike Tomas apart.

If you are contemplating getting a loan, call Mike. You will be guaranteed great service and straight talk.

Mike Tomas

Office Phone:
(214) 679-9738

McKinney Real Estate and Frisco Real Estate looks better than Ever

2008-01-30T13:03:00.000-08:00

AP
Fed Cuts Interest Rates by 1/2 Point
Wednesday January 30, 3:05 pm ET
By Martin Crutsinger, AP Economics Writer
Federal Reserve Reduces Federal Funds Rate by 1/2 Point to 3 Percent

WASHINGTON (AP) -- The Federal Reserve on Wednesday cut a key interest rate for the second time in just over a week, reducing the federal funds rate by a half point. It signaled that further rate cuts were possible.
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The Fed action pushed the funds rate to 3 percent. It followed a three-fourths of a percentage point cut on Jan. 22, a day after financial markets around the world had plummeted on fears that the U.S. economy was heading into a recession. That decrease had been the biggest one-day move in more than two decades.

The half-point cut Wednesday followed news that the economy had slowed significantly in the final three months of last year with the gross domestic product expanding at a barely discernible pace of 0.6 percent, less than half what had been expected. The report came amid increased concern from several quarters about a possible recession.

In a brief statement explaining their decision, Federal Reserve Chairman Ben Bernanke and his colleagues said that "financial markets remain under considerable stress."

The Fed move was approved on a 9 to 1 vote. Richard Fisher, president of the Fed's Dallas regional bank, dissented, preferring no change in rates.

The rate cut marked the fifth time that the Fed has cut the funds rate since it started with a half-point cut on Sept. 18 in response to the severe credit crisis which hit global markets in August.

Financial markets, which had been hoping for a bolder half-point move, rallied on the announcement. The Dow Jones industrial average, which had been in negative territory shortly before the Fed action, climbed back into the positive range in the minutes following the statement, with the Dow Jones industrial average up by more than 70 points in the first half-hour of trading.

Economists said the Fed decided to move a half-point rather than a quarter-point because it did not want an adverse reaction on Wall Street.

"At this tenuous time, they did not want to disappoint the markets," said David Jones, chief economist at DMJ Advisors.

Jones said he expected at least one more rate cut, probably a quarter-point, at the next Fed meeting in March or at the April meeting.

The latest Fed action was quickly followed by cuts in banks' prime lending rate, the benchmark rate for millions of consumer and business loans. Banks announced that they were cutting the prime rate from 6.5 percent down to 6 percent, the lowest level for the prime since the spring of 2005.

The Fed's hope is that by making credit cheaper, it will encourage more borrowing, giving the economy a needed boost.

In its statement, the Fed said that "downside risks to growth remain" and pledged to "act in a timely manner as needed to address those risks." That was seen as a pledge to cut rates further if the economy continues to weaken.

On inflation, the Fed officials said that they expected inflationary pressures to moderate in coming quarters but they also pledged to monitor price developments closely.

The GDP report showed that a key gauge of core inflation, which excludes energy and food, jumped at an annual rate of 2.7 percent in the final three months of last year, the fastest increase in a year and up sharply from a 2 percent increase in the July-September quarter.

The economy has been dealt a series of blows from a two-year slump in housing to a severe credit squeeze as banks faced with billions of dollars in losses from mortgage defaults have cut back on their lending and tightened standards.

The GDP report showed that the housing collapse had depressed economic growth last year by the largest amount in a quarter-century. Policymakers are worried that the slump could intensify this year as millions of subprime mortgages rest at higher rates.

To combat the threat of a recession in an election year, the Bush administration has been negotiating with congressional leaders for an economic stimulus package of around $150 billion, focused on tax rebates for households and business tax breaks to spur investment. The House passed its version of the proposal on Tuesday but Senate action could be delayed by efforts to expand the relief to senior citizens and the unemployed.

The Fed move Wednesday occurred at the first regularly scheduled meeting of 2008 for the Federal Open Market Committee, the group of Fed governors in Washington and regional Fed bank presidents who set interest rates.

The Fed's three-quarter-point cut on Jan. 22 was taken after an emergency video conference held by Bernanke and other members of the FOMC.

That rate cut, the biggest reduction in the funds rate in more than two decades, was seen as an effort to boldly demonstrate that the central bank was prepared to do whatever necessary to keep the country from slipping into a recession -- or at least make the downturn milder than it would have been otherwise.

Financial markets had complained that once the credit crisis hit in August, the Bernanke-led Fed had been too tentative in its responses until last week's move.

Many private economists believe the central bank will keep cutting rates through the spring, especially if the unemployment rate keeps rising. The jobless rate jumped from 4.7 percent to 5 percent in December, the biggest one-month increase in five years.

Blog Link Exchange

2008-01-29T17:23:00.000-08:00

Real Estate Blogs Directory
- Directory of real estate blogs and blogs of industries affiliated with and
serving the real estate industry.

Information on Mortgage Rates

2008-01-25T15:20:00.000-08:00

Is Now the Time To Buy?
Why Mortgage Refinance is Hot:Mortgage rates near historic lows. Refi to a 30-yr fixed rate as low as 5.5%. *Terms. Estimate your savings.