Friday, December 30, 2011

Wednesday, December 28, 2011

Builder Confidence Rises in December

Provided by Realty Times

Builder confidence rose in December according to the National Association of Home Builders. This is the third straight month of improved confidence.
The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) indicates this is the highest level the market has seen since May 2010.
"This is the first time that builder confidence has improved for three consecutive months since mid-2009, which signifies a legitimate though slowly emerging upward trend," said NAHB Chief Economist David Crowe. "While large inventories of foreclosed properties continue to plague the most distressed markets and consumer worries about job security and the challenges of selling an existing home remain significant factors, builders are reporting more inquiries and more interest among potential buyers than they have seen in previous months."
This rise was calculated by looking at builder perceptions of what single-family home sales look like now and where builders think they'll be in the next six months.
On the topic of current sales, builder confidence rose two points on the HMI scale. Expectations for sales over the next six months rose one point. The largest rise was seen in builders' reports on traffic of prospective buyers, which was up three points to the highest levels since May 2008.
Real estate is a largely local commodity. Regionally, the largest rise in builder confidence for December was seen in the South, which posted a 4-point gain. The West saw a one point gain. The Midwest was unchanged and the Northeast slid down the scale by one point.
How does a rise in builder confidence affect today's buyers and sellers? For starters, builders have indicated that buyers are placing more inquiries. Home permits have "spiked" according to CNN. Consumer confidence may be returning on the heels of a drop in the unemployment rate. This renewed confidence fosters growth in buyer and seller communities, hopefully raising the value or homes and offering new jobs.
The question is mostly, however, about how the confidence and actions of today's buyers and sellers affects today's builders. Builders have had a tough time since the housing bust several years ago. Many smaller builders found their market of eager homebuyers shrink as the recession hit and would-be buyers decided to wait out the market or fell on hard times. Other builders have had difficult times procuring credit for projects. Discount pricing on distressed properties have caused many builders to sell new homes at cost. Construction workers lost over a million jobs during the recession, a number that has yet to rebound.
Confidence is still fighting an uphill battle against tightened lending, high unemployment, and a continued debt crisis in the U.S. and in Europe.
"While builder confidence remains low, the consistent gains registered over the past several months are an indication that pockets of recovery are slowly starting to emerge in scattered housing markets," said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. "However, the difficulties that both builders and buyers continue to experience in accessing credit for new homes are holding back potential sales even in areas where economic conditions are improving."
Markets are improving all across the country. Many have seen consistent improvements in home sales, home prices, and employment over the last six months. If this trend continues, builder confidence should return with even more gusto.

Friday, December 23, 2011

Merry Christmas

Home is a memory that we carry in our hearts, a comfort that we keep from year to year.

The joy of smiling faces, family, friends and fun, a gift that warms our lives with Christmas Cheer.

Wishing you a warm and cozy holiday season, surrounded by those you love.


MERRY CHRISTMAS!

-Keller Williams Rockwall


(Click on the picture to have a laugh, take a look at our KW Family Christmas video!)




Wednesday, December 21, 2011

The Mistaken Commercial Move

Provided By Realty Times

Mandarin Enterprise was an import/export company located in Montecito, OR. The owner of the company, Patrick Cook, was extremely busy traveling the world,looking for opportunities to expand his business. Since Mandarin Enterprise was expanding, Patrick thought he should hire a reliable person to help him manage the business and take care of it in his absence. Hence, before making his next trip, he hired Martin Gambler as his new office manager.

Shortly after Patrick left for China, Martin decided that it was time to move since company was growing and needed more warehouse space. So he went shopping and found a 15,000 square feet space to move into. He organized the move, but left the day-to-day organization of the move to his assistant. As moving day came, the whole company cooperated and the move went very smoothly, that is until he got a call from his new landlord. "Hello Martin, I heard you have moved. I think we have a problem." He continued to tell Martin that Mandarin Enterprises had moved into suite 400 at the industrial park and that,Mandarin was supposed to move into suite 500. The leasing agent had inadvertently given the master key to Martin since they had been discussing both spaces. Martin had assumed they were moving into suite 400. As a matter of fact, Mandarin should never have had the master key. There were two drafts of the lease, one with suite 400 in the location description, the other with suite 500. Martin assumed they were moving into suite 400, the landlord assumed suite 500.

To compound the problem Mandarin Import and Export had moved in without an actual signed lease. The leasing agent and the landlord had not reviewed final versions and returned them to Mandarin Import and Export. Moreover, their existing lease for 6000 square feet had not expired yet; it had four more years to go. Martin discovered this when his old landlord called him in the morning and asked him why he had moved out.

Martin, a trained professional and a graduate of the prestigious Humberton MBA program, was truly stunned. How was he going to solve this conundrum and not get fired by his boss? In the mean time Patrick returned from his trip and was surprised to find out that his company had moved. He had to call Martin to get the new address.

At this point, Patrick was very confused. He was aware that Mandarin had outgrown its previous space, and was excited to know that the new space was much better suited for their company. He was happy that they now had a badly needed show room, larger warehouse and a bigger office for him without having the slightest idea of the "behind the scene" problems that had arose. (At this point in the tale you may be wondering is this a salvageable situation, or if this actually could have occurred.)

Once Patrick found out about the mistakes, he decided to help Martin figure out how to solve those problems.

First, they negotiated with the new landlord and got him to agree to let them stay in suite 400 and actually signed a five year lease.

Next, he went to the old landlord and got him to agree to a lease buyout and paid him a one year (of the rents) penalty and they were let out of the lease.

Finally, he sat down with Martin. He issued a written warning. He said to Martin, "Your heart is in the right place, but you really screwed up on the details". He also told him that this was not a good situation and had cost Mandarin a lot of money to solve. In the end, Mandarin was able to grow its way out of its problems. Martin had learned a great deal and was lucky to keep his job.
Such situations can be prevented by following simple steps which include careful planning; requiring owner/officer signatures on leases, lease review by corporate or real estate attorney and by clearly managing the boundaries of the key people that work for you… and before I forget, you might want to think twice before you hire an employee with the last name of Gambler.

Would you like to learn more about commercial properties. Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.

Monday, December 19, 2011

Choosing to Sell

Provided By Realty Times

Today’s market presents a difficult mix of conditions for many sellers. The housing market dipped in recent years in response to recession conditions and continues to struggle.

Accessing credit is challenging. Many of today’s lenders require hefty downpayments of at least 20 percent along with excellent credit scores for the best rates. Many homeowners with “good” credit may indeed find themselves wholly unable to procure a mortgage.

Some homeowners find themselves selling out of necessity instead of a true desire to move. They may be facing foreclosure or have had sizable decrease in their household income and now need to size down.

Making selling even more challenging is the fact that home prices have been on the decline. Many homeowners may be surprised to find their home is now worth less than they bought it for 10 years ago. Prices are now at 2003 levels in many areas of the country.

If a homeowner bought during the peak of the market, during the boom years, they may find they now own a house worth a fraction of what they paid.

How do you know if now is the time to sell?

First, be sure to solicit the advice of a local real estate agent. They have access to mountains of statistics for your area, including how long homes are taking to sell, what neighborhoods are hot, median prices, and so much more.

Find out what your home is worth in the current market. This will help you decide whether you can afford to sell or what kind of loss you mind be facing if you are needing to sell now.
Once you have armed yourself with solid stats, it’s time to evaluate your own financial standing.

Do you have the money to make a move?

Moving is expensive. You will have closing costs totally thousands of dollars. You’ll need to have money ready for the buying process, including downpayment cash, closing cash, and money for incidentals like home inspections and u-haul and storage rentals.

Think about your motivating factors. Why are you wanting to sell? Some people need to sell. They may have been relocated or need to follow job. The recent recession has left other families needing to sell to avoid foreclosure. Families also outgrow their homes and need to size up.
Consider social effects of a move, too. Will your children be changing schools? Will you be moving away from friends and family? Recent studies have shown that owning a home can bring the owner better health, better wealth, and a more stable household. Uprooting a family can affect those benefits.

Selling a home is a large financial and emotional decision. If the conditions are favorable in your area, then selling can be a great idea. Be sure to do your research and consider all of your options. Whether you decide now is the time to sell or not, it’ll be the right decision for you.

Are you interested in selling your home? Give us a call at 972.772.7000 or email us at frontdesk@kw.com .

Friday, December 16, 2011

Home Inspections

Provided By Realty Times

Buying a home is a big decision that includes more than falling in love with the style and decor of a home. A home needs to be in good working order. This is where an home inspector comes in.

A home inspector does a physical inspection of the structure and systems of your prospective home. This means while may love how beautiful the living room’s wood floors are, your inspector can tell if the floor itself will stand for another 20 years. Are there joists that are rotten and need replaced? Is there moisture damage that needs addressed?

What are the basic systems that an inspection covers? You should expect to get a report on the foundation, walls, ceilings, floors, windows, doors, heating and air systems, plumbing (interior), electrical systems and the roof. It’s important that you are present during the inspection so you can be sure that all the systems are checked and that you understand what the problems are and where they’re found.

The inspection itself will set you back several hundred dollars. The amount ranges by region and by inspector. Feel free to ask your real estate agent for suggestions on who to hire. They may have a referral list for you. You can also ask friends and family if they have used someone in the past who they would recommend. If you don’t have anyone to ask, then be sure to check out the American Society of Home Inspectors (ASHI) website, which can help you find inspectors by zip code.

If you are wanting to check for mold or other speciality issues, you’ll most likely need to hire a trained mold specialist to come and inspect the home. This would be a good idea on homes that have mold red flags, such as growth on the walls or floor.

They may be a simple fix, such as repairing a leak and replacing drywall. It could also be a more serious issue, such as black mold, which can wreak havoc on the health of anyone living in the home.

Why is a home inspection really necessary? Your home is a big investment. Most people are on a tight budget and have little room for unexpected expenses. You may have allotted your extra funds towards remodeling the outdated kitchen only to find out that you have $10,000 worth of plumbing issues to fix instead.

Knowing about an issue before closing gives you the upper-hand at the negotiating table. The home in good working order may have been worth $100,000, but with $10,000 of plumbing repairs needed, the price should now be $90,0000.

Just remember that even in new homes, there will be items your home inspector finds need attention. There is no perfect home. Take a moment to reflect on the inspection’s findings and decide if the work that needs done is something you’re willing to take on. You can also ask for the seller to repair these issues before you take possession of the home.

Buying a home can be a wonderful experience. Put a home inspection professional on your side and you’re reducing your risk of costly surprises in the future.

Wednesday, December 14, 2011

A Simple Guide to Selling Your Home On The Holidays

Provided By Shopkenthomes' Blog on Trulia.com

The holidays are fast approaching and it can be a hard time to organize your house when you are planning to sell it. However, if you wish to put your property for sale on the market at some point, you have to keep doing the items you must do, especially if you wish to hit the ‘spring’ market (which starts soon after the very first of the season). How will you do all of it?

A lot of steps you can be done to prepare your house for the market along side with the holiday parties you will attend to. Of course, you don’t need to stress on it but relish the holidays. Listed here are a couple of things you can do that may go a lengthy way towards your preparations, without the need of making you crazy during the holidays.

Before you go holiday foods and treats, don’t put back the products you utilize limited to this time around of the year when you’re completed with them. Rather, pack them for that move. Not simply will that free space inside your cabinets, it will likewise allow it to be much simpler to bring along whenever you do move.

Should you put a number of your ‘usual’ things off to make room for holiday adornments, are you able to place them away until following the move? Which will mean less clutter when the holiday adornments have left – and fewer that you should pack when it’s time.

If you’re getting visitors for that holidays, now might be time to purchase such things as new towels. Let your visitors rely on them throughout their visit, then have them up (but unused) for that house showings. Just make certain they’re in neutral colors that actually work within the bathroom (and not simply for that holiday).

And lastly, do not forget to do some master cleaning before the big presentation. Unclutter and clean up anything there is that is needed to prepared to make it look like an inviting and cozy place to live in.

Be sure to make this holiday season enjoyable and stress free as you prepare for the big Open House Day.

Tuesday, December 13, 2011

Coats, Coats, Coats

Dear Rockwall Community,

Keller Williams on behalf of Rockwall Cares is currently accepting coat donations. You can find the donation boxes in the foyer of our office located at:

2951 Ridge Road, Suite 101
Rockwall, TX 75032
(inside the Kroger shopping center)

For more information please contact us at 972-772-7000 or email us at frontdesk552@kw.com.

"Kindness is the language which the deaf can hear and the blind can see."
-Mark Twain

Monday, December 12, 2011

Decorating on a Dime

Provided By Realty Times

A tight budget doesn’t have to mean a lack of style! Your home can still be an up-to-date showpiece. You just have to know where to shop!

The first trick is to shop the sales! Retailers are fighting hard these days to gain your business. They have one-day sales, weekly clearance, and lots of coupons offered online. Be sure to do a little research before heading out to the stores. You may find that certain retailers have coupons or better deals. Why pay more for the same thing?

Decorating on a budget can mean being willing to compromise slightly on what items you buy. You may love the upholstery fabric you saw in Traditional Home magazine, but at $200 a yard it is out of reach of many homeowners.

Instead, try your local fabric hubs, such as Hobby Lobby. You may not find the exact same pattern, but chances are you’ll find a print that is similar and will give the same feel to your room.

Garage, yard, and estate sales are also prime decorator finding grounds. You never know what treasures will pop up! From antiques and handmade pieces to up-to-date styles, these sales are a smorgasbord of decor.

The main issue, however, is to be selective. It is easy to become sidetracked and buy items that don’t really work for what your overall design is. Then you end up with more junk to store at your own house.

If your purse strings are pulled even tighter, then it’s time to go to Plan B. There are a few options. Some of your other friends may be ready for a change. They may have curtains, candle holders, framed art, or throw pillows they’d love to trade for something new. Set up a swap meet for friends and share your stuff!

Another free option is reusing. What is reusing? You probably have curtains and decorative items all around your home. You might even have items you’ve put into storage. Now is a great time to pull items from the various rooms you want to decorate and see if any of the pieces you already possess could make a new statement in a new place.

Finally, don’t be afraid to do-it-yourself. Many local home home improvement stores offer classes and brochures on how to tile, texture paint, and upgrade other areas of your home. You can find tutorials in books and online for how to build simple pieces of furniture, like window seats and built-in shelving.

The same goes for homemade curtains, roman shades, throw pillows, and cushions. You can do it! Have confidence in your abilities. These do-it-yourself projects can be real money savers.
Shopping on a budget doesn’t have to be boring. You can make your home just as beautiful and cozy as the next person. Have fun with it!

Wednesday, December 7, 2011

Pending Sales Rise

Provided By Realty Times
Pent-up demand could finally be working its way through the market. Pending home sales rose sharply in October according to the National Association of Realtors®.

The latest statistics reveal that contract signings rose 10.4 percent for the month and are now 9.4 percent above 2010 levels.

Regionally, results were mixed but overall still positive. The Midwest led the way jumping a staggering 24.1 percent in October. The Northeast also had double-digit gains at 17.7 percent. The South was up 8.6, while the West was the only region to see a decline, though it was just a marginal 0.3 percent drop.

The largest year to year rise is seen in the Midwest as well, which is currently 13.2 percent above October 2010 levels.

What has spurred this upswing? NAR's Chief Economist, Lawrence Yun, thinks it is partially due to the high levels of affordability we now see in areas all across the country. He feels the recent pending home sales report is a hopeful sign. "Home sales have been plodding along at a sub-par level while interest rates are hovering at record lows and there is a pent-up demand from buyers who normally would have entered the market in recent years. We hope this is indicates more buyers are taking advantage of the excellent affordability conditions."

Affordability is calculated by figuring an income to cost ratio for homes. What is the median household income for your area? What is the median home price?

TIME magazine reported at the end of November that during the third quarter of this year families earning a median income of $64,200 could afford 72.9 percent of the homes sold.

The areas seeing the highest levels of affordability are Toledo, Ohio - 90.9 percent; Youngstown, Ohio/PA - 90.9 percent; Indianapolis-Carmel, Indiana - 90 percent; and Ogden-Clearfield, Utah - 89.8 percent.

Pending sales were up in the face of otherwise negative reports. Home prices have continued to decline and are now at 2003 levels. Builders still remain cautious when it comes to new projects.

It is important to keep in mind, too, that recent months have proven that pending sales don't always translate into actual sales. Many pending contracts have fallen through due to appraised values coming in much lower than loan amounts, nulling the mortgage offer. Other buyers are unaware of the stringent lending standards now in place that require high credit score for qualification.

"Although contract signings are up, not all contracts lead to closings. Many potential home buyers inadvertently hurt their credit scores and chances of getting a mortgage through easily averted actions, such as cancelling an old credit line while taking on a new one," Yun said. "Such actions could unwittingly prevent buyers from obtaining a mortgage if their credit score is close the margins of qualifying, or they might get a loan but with less favorable terms."

Friday, December 2, 2011

Increasing Seller's Property Value

Provided Yahoo!

Understand first of all that there IS a difference between price and value. Price is the amount you are asking for the property. Value is buyer perceived, and this perception of value is influenced by many factors such as location, features, condition, comparison to other purchase option, etc. By attending to details that can have a positive impact on the value, sellers can significantly increase their chance of attracting qualified buyers willing to pay the asking price.

Some tips to achieve a positive impact on value are:

1.Perceived size impacts value, even more so than actual square footage. Open floor plans make a room feel bigger than larger spaces with smaller rooms. Showing property that is furniture free, or at reduced clutter, helps to make the space feel bigger.

2.Vacancy increases sale-ability. Property is easier to show and easier to sell, and quicker to take possession of when it is vacant at the time it is offered for sale. Evidence of problems to take possession of the property -- such as encroachments, or tenants who wont allow buyer tours -- negatively impact value. Vacancy also helps the buyer walk through the property imagining ownership. Sellers should remove personal trinkets and family pictures as well as being conveniently absent during a buyer tour.

3.Cosmetics are important.
•Fresh paint will always add more value than it costs.
•Clean or new carpet/flooring adds more value than it costs.
•Landscaping adds more value than it costs. At the very minimum, make the entrance area neat.
•If you can, add some colorful flowers and new sod.

4.Take care of the obvious! The spot on the ceiling from the roof leak takes thousands of dollars from the perceived value and the offer price.

5.Condition affects value. Do a seller's home inspection to identify and fix the problem BEFORE closing. No point holding up your check a few extra days; plus a failed buyer's inspection could cost you the sale. Buyers will often bargain down your asking price to accomodate for property condition and repairs.

6.If you can, remodel/update the kitchen and master bathroom. These two areas have a big impact on home buying decisions.

7.Strategic renovations impact value and your bottom line. Don't spend more money to renovate the place than you can recapture in value on the sales price.

Wednesday, November 30, 2011

All about home inspections

Provided By Trulia

When you are looking to purchase a home, it's a good idea to get it inspected first. Think of it as a test drive before you plunk down your life savings and most likely, commit yourself to lengthy mortgage. You want to make sure you're getting a quality home. Below is everything you need to know about getting a home inspection.

Why get an inspection?
A home inspection is the examination of a home, from top to bottom. Just like a routine physical that will alert you to any hidden health problems, an inspection will reveal if a home's structure or if any of its systems are in need of significant repair. Purchasing a home is a big investment -- you're likely to be spending thousands of dollars to buy your new home -- so, you'll want to be sure that your purchase is a smart one. (And that you don't buy the real estate equivalent of a lemon.)

In fact, 99% of all agents counsel their clients to have a home inspection performed of homes they are looking to buy.

Hire a professional
When you hire an inspector, look to hire the best -- it only make sense, since buying a home can be an expensive endeavor.

Look to get a professional who's knowledgeable about a home's system -- that person is likely to be a licensed professional engineer (PE). You can search for a PE in your area on Nabie.org, the website for the National Academy of Building Inspection Engineers. You may also want to check up on inspectors you're considering on sites like the Better Business Bureau and Angie's List.

What does a home inspector check?
A home inspector will conduct a visual inspection of the home, from the roof to the foundation. He will examine the roof, attic, insulation, the home's heating and air-conditioning systems, the plumbing and electrical systems, walls, ceilings, floors, windows, the basement and the foundation. The exterior of the home will also be inspected, taking into account factors like the condition of the driveway, fences, sidewalks, grading of the property, etc.

How long will it take?
The average inspection of a single-family home should take two to three hours, according to hud.gov, the website for the U.S. Department of Housing and Urban Development.

What is the cost?
The fee for a home inspection can vary widely, depending on your home's location, size, age and the services being performed -- e.g., if there is a septic system that needs to be inspected, or if the home is being checked for radon. Typically, a home inspection for a single-family house will fall within the range of $300 to $500, according to hud.gov.

How do I get the results?
A quality home inspector will provide a printed (not hand-written) copy of the results. Ask any inspector you're thinking of hiring about what kind of report he will provide and exactly what will be covered in the report. The report should note what systems in the home are defective and what needs repair. Also ask how long it will take for your inspector to get the report to you.

What should the results tell me?
Your inspection report should reveal the overall condition of the home, what repairs are needed, the severity of the needed fixes and their potential cost. You can then use the results of the inspection to determine your next step -- e.g., if you're happy with the home as it is, or if you want to negotiate with the seller to complete some fixes or lower the price on the property.

Monday, November 28, 2011

Ask the HOA Expert

Provided By Realty Times

Question: Our annual meeting was held yesterday and a motion was approved to distribute meeting minutes and other communications via e-mail. We are a small HOA and 3/4ths of the people do email and the rest don’t. Is this a problem?

Answer: Distributing HOA information by email makes perfect sense labor and budget-wise. But since HOA websites are very cheap, it would be even better to post HOA information on your very own HOA website and merely put a link in the email to the website when new information is available. Those that are email challenged will still need to be provided the information by mail. At least you’ve saved 3/4ths of the cost.

Question: Our HOA treasurer has the most time-intensive position and in the past has been paid $70/month to perform those duties. At our annual meeting, a motion was made to stop paying the treasurer. The motion passed.

Four months went by and the treasurer proposed the board reinstate the compensation based on the job duties and time required to get it done. Can the board reinstate this payment and overturn a decision made by the homeowners at an annual meeting?

Answer: Generally speaking, the governing documents prohibit board members from taking compensation for their board duties. If this is true for your HOA, no, the treasurer should not be paid nor should the board disregard a matter the members have clearly expressed their wishes on. There are professional bookkeepers that can provide this service although it may cost more money.

Question: If the HOA board decides not to enforce a specific rule, can it still enforce other rules?

Answer: It's in the best interest of the HOA for the board to enforce all rules consistently. But not enforcing one rule does not negate all rules. But if the board fails to enforce a particular rule for an extended period of time, the board may compromise its authority to enforce it all. Another common HOA issue is that different boards enforce rules more or less consistently. If a particular board feels strongly that renewing enforcement of a particular rule that has long gone unenforced is a good thing, the matter should be discussed in the annual homeowner meeting or, at minimum, in a newsletter that clearly informs all members of the issue and the board's intention to enforce it. Catching members by surprise is bad policy.

On the other hand, maybe a particular rule isn't needed at all. It's okay to take a rule formally off the books by an appropriate vote of the members. Don't just have rules for rules sake. There are plenty to follow already.

For more innovative homeowner association management strategies, subscribe to www.Regenesis.net

Friday, November 25, 2011

Garage Organization

Provided By Southern Living Magazine

For many homeowners, the words "garage" and "storage space" are synonymous, but that assumption wears thin when parking the car inside requires divine intervention. So the next time you're forced to squeeze past a barrier of boxes and various yard items to get in the house, take advantage of the following tips--along with warm summer days--for a better, more organized vehicle-and-storage shelter.

From Cluttered to Contained

While organizing a garage certainly isn't rocket science, knowing the fundamentals will lead to a more successful outcome.

Get rid of those things you don't need. Sounds simple, but most of us harbor pack rat tendencies that are difficult to break. Whether you hold a garage sale (see "Garage Sale Advice" on the following page for some tips), donate the stuff to charity, or rent a dump truck, your actions will pay off. Those old hedge clippers with both blades broken--chuck them. The 1970s hi-fi stereo that still works, complete with turntable and eight-track player--sell it. Whatever the condition of the items, chances are your garage needs a long-awaited purging. (Note: If you plan to set things out for trash pickup, be sure to verify what your local sanitation department will and will not take.)

Group similar things together. Again, this is another simple idea, but it is equally important. What good is a toolbox when its contents are scattered from one end of the garage to the other? The same applies to yard equipment. You may own four different rakes, a couple of shovels, and various other tools, but when the time comes to use them, they're nowhere in sight. Solve this problem by designating certain areas for specific items. Locate those things you use on a regular basis up front, near the garage door. Put boxes of holiday ornaments and other out-of-season items where they're not in the way. When everything has a place, it will be much easier to keep the space organized. (Tip: Park your car in the garage, open all doors, and draw boundary lines with a piece of chalk on the floor. Now, back the car out--with doors shut, naturally. What's left inside is a defined guide for storage and parking.)

Good Storage Sense

Maximize wall and ceiling space. The options are endless here--hooks, Peg-Board panels, shelving units, storage bins, racks, and so on. Even garage attic space, if exposed or accessible, allows a way to get things up and out of the way. Two notes of caution, though: Always make sure that you have correctly secured a chosen storage system into the garage's wall studs or ceiling joists. Also, don't overload shelving or bin units. Instead, place heavier items on lower levels and lighter objects on top. Elevating things off the floor will help with sweeping and cleaning as well.

Stow hazardous materials well out of harm's way. Products such as paint thinners, gas and antifreeze containers, fertilizers, cleaning supplies, and other chemicals can prove dangerous in the wrong hands. Likewise, certain substances placed together can chemically react, resulting in explosions and even fires. Group like items, and store in cabinets that lock and provide ventilation. Also, before tossing these materials, contact your community's sanitation or fire department for proper disposal techniques.

Garage Sale Advice

Here are some tips to make your next sale more manageable.

Check with your local town hall or city council for any ordinances pertaining to garage sales. Also, be aware of any laws that limit or prohibit neighborhood advertising.

Plan. The more time for deciding what to sell and how much each item should cost, the better. Also, give iffy items the benefit of the doubt. One man's trash is another's treasure.

Advertise. Take advantage of community and workplace bulletin boards and local newspapers. Once your sale is over, don't forget to remove any signs or flyers.
If possible, keep all sale items out of sight or behind closed doors until you're ready for the mad dash to begin. Allow yourself just enough time to set up. (Tip: Post a sign on your garage door stating the correct starting time; stress that early comers will just have to wait.)

Arrange items either by category or by similar price. Make sure that prices are clearly marked.

Have an ample amount of change, along with $1 and $5 bills. Be willing to negotiate on price as well--within reason and with a smile, of course.

Getting ready to sell your home? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com!

Wednesday, November 23, 2011

Monday, November 21, 2011

Learn from the Mistakes of Others & Avoid Your Own

Provided By Realty Times

The same financial mistakes that are playing out on a global scale can undermine us as individuals, families, and small businesses. Would you rather make the same financial errors yourself, or simply avoid the mistakes of others?

When you watch, read, or listen to news of the European financial crisis, don’t just shake your head because the billions involved seem so removed from your daily challenges with the Loonie. Instead, zero in on three valuable lessons-learned from the Eurozone that can translate into financial resilience as real estate owners:

1. Economic Vulnerability: False sense of security à la “too big to fail” “Seventy percent of Italy’s debt matures in 2012," stated one international business expert in responding to questions concerning Italy’s greatest challenge as the European Crisis deepens. As I write this column, speculation concerning “too big to fail” has moved from lending institutions to countries. The occurrence of previously-impossible “big” financial failures, should have taught us that the impossible does happen in this globally-interconnected world. Ignoring increasing financial vulnerability got the European Union where it is today. What are you ignoring? What could sneak up on you?

Are you living with a “too big to fail” illusion about your own financial situation? Reigning in unrestrained spending may have helped weather the 2008 crisis, but as a long-term strategy it leaves a lot to be desired. If you’ve taken the smart step toward debt reduction, you’ve explored strategies for reducing the total amount of interest you’ll pay on your mortgage and other debt. However, even that may not be enough.

Knowledge is power as the next phase of the global crisis emerges. Have you crunched the numbers so you know exactly where you stand if you or your spouse experience pay cuts or lay offs? How long could you continue to meet debt payments and living expenses if one or both of you lost your job? Hoping this is not going to happen is not a strategy. Searching out ways to cut costs, barter goods or services, and earn additional income before a problem arises are strategies. Wait until something negative occurs and you may not have enough time for solutions to kick in.

Beware of false economies like not servicing the furnace or skipping the eavestrough clean. These and other essential annual maintenance tasks can cause very expensive problems if ignored. But isn’t that what happened in Europe?

2. Get Everyone Onside:
Not cross-purposes, but common purpose Political machinations overshadow economic solutions. One minute a sound financial strategy has been announced; the next, a political manoeuver has squashed it. If you co-own real estate with a mortgage, taking the time to be sure you’ve agreed to deliberate repayment strategies and are both committed to them is essential. Paying off the mortgage more aggressively than through traditional monthly payments will require reworking of the family budget. If you don’t have a written monthly financial plan, money can slip through the cracks. Saving on mortgage interest carries less overall value if credit card debt is rising dramatically to cover the siphoning off of income into mortgage debt. Involve all family members, so they share the belt tightening and the triumph of reduced expenditures.

3. Keep the Facts Straight: Perceptions distract from reality European prosperity turned out to be an illusion. Perceptions of economic well-being mattered more than reality, and over-spending reigned. This glorified “keeping up with the Jones” is often parallelled in everyday life, and it can be just as destructive. Living beyond your means was an acceptable standard earlier in the 21st Century, but it endangers your financial future as national and provincial deficits rise. You know that, but have you really adapted spending habits to this reality? Too many property owners spend on dining out and travel, but let their real estate become out-dated, which in turn reduces value.

Of the overall housing market, Canadian homeowners have about C$2,035 trillion in equity, equivalent to about 68 per cent of the total housing value, according to the Canadian Association of Accredited Mortgage Professionals (CAAMP,org) recently released consumer report, “Annual State of the Residential Mortgage Market in Canada.” Seventy-eight per cent of borrowers with a mortgage or line of credit have at least 25 per cent equity in their home. On the whole, unless you lose your job, CAAMP considers mortgages affordable for 84 per cent of borrowers at these interest rates and higher. However, that leaves 16 per cent unable to afford an increase of C$200 or more per month.

To preserve and build home equity, keep analyzing all that goes on around you. Lessons learned the hard way by others, even countries, in one context can translate into inspiration in yours.

World economic turmoil will continue for some time—turmoil which is now having an impact on our personal lives. Are you prepared to weather the

Friday, November 18, 2011

Ciabatta Stuffing with Chestnuts and Pancetta

Provided By FoodNetwork: Giada De Laurentiis, Everyday Italian



Ingredients

6 tablespoons (3/4 stick) butter
8 ounces pancetta, cut into 1/4-inch dice
2 large onions, finely chopped
2 carrots, peeled and finely chopped
3 celery stalks, finely chopped
2 tablespoons chopped fresh rosemary leaves
3 garlic cloves, chopped
2 (7.4-ounce) jars roasted peeled whole chestnuts, coarsely broken
1/4 cup chopped fresh Italian parsley leaves
1 pound day-old ciabatta bread, cut into 3/4-inch cubes
2/3 cup freshly grated Parmesan
1 cup (or more) canned low-salt chicken broth
Salt and freshly ground black pepper
2 large eggs, beaten to blend

Directions

Preheat oven to 350 degrees F.


Butter a 15 by 10 by 2-inch glass baking dish. Melt 2 tablespoons of butter in a heavy large skillet over medium heat. Add the pancetta and saute until crisp and golden, about 10 minutes. Using a slotted spoon, transfer the pancetta to a large bowl. Melt the remaining butter in the same skillet over medium-high heat. Add the onions, carrots, celery, rosemary, and garlic. Saute until the onions are very tender, about 12 minutes. Gently stir in the chestnuts and parsley. Transfer the onion mixture to the large bowl with the pancetta. Add the bread and Parmesan and toss to coat. Add enough broth to the stuffing mixture to moisten. Season the stuffing, to taste, with salt and pepper. Mix in the eggs.


Transfer the stuffing to the prepared dish. Cover with buttered foil, buttered side down, and bake until the stuffing is heated through, about 30 minutes. Uncover and continue baking until the top is crisp and golden, about 15 minutes longer.

Wednesday, November 16, 2011

Rockwall Stats

Provided By Zwillow





Are you interested in learning what the stats are in your neighborhood? Contact us at 972.772.7000 or email us at frontdesk552@kw.com.

Monday, November 14, 2011

More Markets Show Signs of Improving-Texas is Dominating!

Provided By Realty Times

The last few months have shown marked improvement in certain key markets across the country. This report comes fro the National Association of Home Builders/First American Improving Markets Index (IMI). According to the NAHB, "The index identifies metropolitan areas that have shown improvement for at least six months in housing permits, employment and housing prices."

Making the list in November are:

Alexandria, LA
Amarillo, TX
Anchorage, AK
Bismarck, ND
Casper, WY
Cheyenne, WY
Corpus Christi, TX
Davenport, IA
Fairbanks, AK
Fayetteville, NC
Fort Collins, CO
Hinesville, GA
Houma, LA
Jonesboro, AR
Kankakee, IL
Lima, OH
McAllen, TX
Midland, TX
Monroe, LA
New Orleans, LA
Odessa, TX
Pine Bluff, AR
Pittsburgh, PA
Sherman, TX
Sumter, SC
Tyler, TX
Waco, TX
Waterloo, IA
Williamsport, PA
Winston-Salem, NC

Seven of these improving markets are found in Texas. Why is this? "Texas continues to dominate the list of improving housing markets in November, increasing its net number of entries to eight and continuing a trend in which energy-producing metros seem to be doing better than the average," said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. "Meanwhile, the geographic diversity of metros also continued to expand this month, with the states of Colorado, Georgia and Ohio all represented for the first time. This is further evidence that all housing markets are uniquely dependent upon local conditions, and some are leading the way toward an eventual, broader recovery."

Also of note was the general lack of major metro markets on this month's list. "The November IMI remains heavily weighted by smaller cities, with Pittsburgh and New Orleans as the only major metros represented," said NAHB Chief Economist David Crowe. "This is indicative of the tough conditions that continue to prevail across much of the country, particularly in larger markets that have been hit hardest by job losses and foreclosures during the recession and that will take more time to heal. However, momentum is building in pockets of the country where energy and agriculture are the dominant industries and where consistent, measurable improvements in economic conditions are now becoming apparent."

How can you go about assessing your own local market? You can start by looking at the same key identifiers the NAHB uses. Have their been increases in housing permits? What is the current rate of pending sales/contracts in your community? Are homes sitting on the market longer than 6 months?

Perhaps most important is to consider the state of the local economy. What is your local unemployment rate and is it on the rise or decline? The jobs markets is key to the health of many local housing markets for a simple reason. People with steady employment make moves. Those who are unemployed or struggling to keep the job they have are not generally inclined to jump into the large financial decision buying a home is.

In order to find this information, you'll need to enlist the help of several local professionals. Local real estate agents have access to a wealth of local information, including days on market, median sales prices, and they can even provide you with a market analysis on your own home. Local county offices may have public records that can show you the latest jobs trends for your city and region.

The figures are mixed for markets across the country. Some areas are seeing marked improvement, while others continue to face an uphill battle.

If you are interested in learning more about the housing market in your area, contact us at 972.772.7000 or email us at frontdesk552@kw.com.

Friday, November 11, 2011

The moving parts of an ARM

Provided By Trulia.com

Adjustable Rate Mortgages, or ARMs, got a bad name in the housing crisis that culminated around 2005. Inherently, an ARM is neither a good nor a bad thing—just a legitimate financial instrument that can be used or abused, like a bottle of wine or a sportsmans rifle.

With an ARM, the interest rate changes periodically, usually in some relation to an index such as COFI, the Cost of Funds Index; or LIBOR, the London Interbank Offered Rate. You can find both of these popular indices published every day in the Wall Street Journal.

Initially, lenders often charge lower interest rates for ARMs than for fixed-rate mortgages. This makes the ARM easier to afford, at first, than a fixed-rate mortgage for the same amount. But upward-adjusting rates were the downfall of many homeowners who didn't understand the loan terms they agreed to. Unexpected rate increases led to a common emotional state known as "payment shock."

There are several types of ARMs, including hybrids, with names like 3/1 and 5/1. The first number (in this case, 3 or 5) tells you how many years until the first interest rate adjustment occurs. The second number (the 1) tells you how often the rate will adjust thereafter. There are interest-only ARMs, which allow you to pay only the interest for a set period, perhaps as long as 10 years, and payment-option ARMs, where you choose among various payment amount options.

At a minimum, you should understand the "moving parts" of any ARM:


The initial rate and payment

The initial rate and payment amount on an ARM will remain in effect for a limited period ranging from just one month to five years or more. Rates in the later years of a loan may vary greatly from earlier years, even if prevailing interest rates are stable.


The adjustment period

The interest rate of an ARM, along with the monthly payment, may change monthly, quarterly, yearly, or after three, four, or five years. The period between rate changes is called the adjustment period. A loan with an adjustment period of one year is called a one-year ARM and its interest rate and payment can change annually. A loan with a three-year adjustment period is called a three-year ARM.


The index

Lenders base ARM rates on a variety of indexes, such as COFI and LIBOR, mentioned earlier. If the index rate moves up, so does your interest rate, and usually, so does your monthly payment. If the index rate goes down, your monthly payment could go down, but not all ARMs adjust downward. The terms are found in the fine print of the loan. Your payments will also be affected by "caps" and perhaps by lower limits affecting how high or low your rate can go.


The margin

To set the interest rate on an ARM, lenders add a few percentage points to the index rate. That addition is called the margin, and in most cases it's constant over the life of the loan. The "fully indexed" rate equals the margin plus the full index. In a period when the loan rate is less than the fully indexed rate, the rate is said to be "discounted." For example, if the lender uses an index that currently is 4.5 percent and adds a 2.5 percent margin, the fully indexed rate is 7 percent.

If the index on this loan rose to 5.5 percent, the fully indexed rate would be 8 percent. (5.5 plus 2.5 percent) A lender may base the amount of the margin in part on your credit history and the better your credit, the lower the margin. In comparing ARMs, look at both the index and margin for each program.


Interest Rate Caps

Interest rate caps place a limit on the amount your interest rate can increase. Interest caps can take two forms:

A periodic adjustment cap limits the amount the interest rate can adjust up or down from one adjustment period to the next after the first adjustment. A typical sort of cap per period is one percent. Suppose your initial rate is 5 percent and your periodic adjustment cap is one percent. Even if the underlying index (such as LIBOR) jumps by several percent, your new rate can only go to 6 percent in that year.

A lifetime cap limits the interest-rate increase over the life of the loan. All ARMs must have a lifetime cap, by law. Suppose your ARM starts out with a 6 percent rate and the loan has a 12 percent lifetime cap. The rate can never exceed 12 percent. Even if the underlying index rate increases 1 percent each year for a decade, your highest possible rate is 12 percent.


Payment caps

In addition to interest rate caps, many ARMs, including so-called payment-option ARMs, limit the amount your monthly payment may increase at the time of each adjustment. If your loan has a payment increase cap of 7 percent, your monthly payment won't increase more than that amount even if interest rates rise more. But any interest you don't pay will be added to the loan balance. A payment cap can limit the increase to your monthly payments but can also add to the amount you owe. (This is called negative amortization.)

For more information about mortgages give us a call at 972.772.7000 or email us at frontdesk552@kw.com.

Wednesday, November 9, 2011

Five Great Things about Homeownership

Provided By Realty Times

If you've been on the fence about homeownership, now is the time to take a leap! Don't let the negative press deter you from one of life's greatest joys.

Take a look at five short and sweet reasons that homeownership is great!

1. Equity. When you pay rent, you never see that money again. It is lining the landlord's pocket. Yes, buying a home may come with some hefty initial costs (downpayment, closing costs, inspections), but you will make that money back over time in equity built in the home. Historically, homes appreciate by about 4 to 6 percent a year. Some areas are still experiencing normal appreciation rates. For the areas that have seen harder times since the recession, experts feel that the housing market will recover. Homeownership is about building long-term wealth. A home bought for $10,000 in 1960 is most likely worth 10 times that in today's market.

2. Relationships: Renters tend to see their neighbors come and go quickly. Some people sign year leases while others are in the community for much shorter terms. Apartment complexes also tend to have less common shared space for people to meet, greet, and socialize. Homeowners, however, have yards, walking trails, or community pools and clubhouses where they can get to know each other. Neighbors stay put much longer (at least three to five years if they hope to recoup their closing costs). This means more time to develop relationships. Research has shown that people with healthy relationships have more happiness and less stress.

3. Predictability: Well, as long as you have a fixed-rate term on your mortgage it's predictable. Most people buying homes today know that a fixed-rate is the way to go. This means your payment amount is fixed for the life of the term. If your mortgage payment is $500 today, then it will still be $500 a month in 10 years. This allows for people to budget and make solid financial plans. The sub-prime crisis meant many homeowners with adjustable rate mortgages saw their monthly payments rise and then rise some more. Homeownership, though, generally comes with a predictable table of expenditures. Even the big purchases are predictable. You know most roofs last just 15 years (or so). You know that each year you'll need to pay for the gutters to be cleaned, and so on.

4. Ownership: Okay, this is a given. Homeownership means you "own" your home. That comes with some incredible perks, though! You can renovate, update, paint, and decorate to your heart's desire. You can plant trees, install a pool, expand the patio, or do holiday decorating that would rival the Kranks (if the HOA allows!). The bottom line is this is your home and you can personalize it to your taste. Most renters are stuck with the same beige walls and beige carpet that has been standard apartment decor for 20 years. Now is your chance to let your home speak!

5. Great Deals: It's a great time to buy. Interest rates are at historic lows. We're talking 4.0 percent instead of 6.0 or higher. This means big savings for today's buyers. Home prices have also taken a dip since the recession, which means homes are more affordable than ever. If you have steady income and cash for a downpayment, then be sure to talk to your local real estate agent about what homes in your area could be a fit for you.

Homeownership can be a real joy. It's time to get off the fence and into a home that is right for you!

Monday, November 7, 2011

Sharing our Table

Dear Rockwall Community,

We are now accepting non perishable food donations for families in need in.

Help us stuff the Rockwall Food Pantry...because no one should go hungry!

*Chili
*Soups
*Canned Goods
*Boxed Items (containing meats)
*Cereals
*Packaged Fruits

Drop off box is located inside the entrance of Keller Williams Realty. For more information please contact us at 972.772.7000 or email us at frontdesk552@kw.com.

"Thanksgiving, after all, is a word of action."
-W.J. Cameron


zwani.com myspace graphic comments

Friday, November 4, 2011

You Can't Keep A Good Homebuyer Down

Provided By Realty Times


An estimated 2 million home buyers are poised to take the plunge just as soon as the economy returns from the deep.

That's because Americans still place a high value on homeownership, but qualifying for a mortgage and raising a down payment in an economy that won't produce jobs, keeps many of them sitting on the fence.

Eighty-nine percent of owners and 59 percent of renters feel that homeownership is important to the American family while 87 percent of owners and 73 percent of renters feel homeownership is an economic cornerstone, according to Hanley Wood's Housing 360 Survey.

Indeed, housing, including shelter itself, household operations, insurance, fuels and utilities, water, sewage and trash services and furnishings, among other expenditures, account for about 40 percent of the Consumer Price Index, an index of consumer expenditures, according to the U.S. Bureau of Labor Statistics.

Approximately one in three renters and about one in five existing homeowners think it's a good time to buy a home and plan to make a move to buy in the next two years, according to the survey.

The survey was electronically delivered to homeowners and renters from a national sample of adults 20 years of age and older in June to early July 2011 resulting in 3,005 results, including 1,954 homeowners and 1,051 renters.

"We thought people would be soured after watching home values fall but instead we found the typical American still places high value on homeownership," said Frank Anton, CEO of Hanley Wood a media company and data research outfit serving the housing and construction industries.

"We found this holds across all demographic groups and across the country, even in hard-hit places like Nevada and Arizona where there have been 50 percent or more declines in value. The increase in the rise of rental rates in many markets is one factor driving people to consider buying," Anton added.

Survey findings indicate as many as two million potential home buying consumers are waiting to jump into the market when the time is right.

Home buyers and renters said there is no great urgency to buy, due to soft economic conditions. Many of them are satisfied with perching on the fence, for now.

They are perched trying to determine how to overcome the challenges of stiff underwriting and, even though some home prices are half what they were a half decade ago, it's also tough coming up with enough cash for a down payment and enough left over to show lenders they are viable home loan holders.

"There are obstacles in the way of home buying. The over-correction in the mortgage market is a drag on the process. We've gone from one extreme to the other and it's stalling the housing market and therefore the economy," said Kent W. Colton, president of The Colton Housing Group and senior fellow at Harvard University Joint Center for Housing Studies.

The survey covered 70 questions relating to the decision-making process and attitudes on homeownership, renting, remodeling, financing, home buying, gasoline prices, household relationships, and retirement planning. Sixty two percent of respondents were first-time homeowners.

The survey also found:

• Seventy-two percent of owners and 59 percent of renters think now is a good or very good time to buy.

• Twenty-nine percent of owners and 12 percent of renters would prefer to buy a new home; 34 percent of owners and 41 percent of renters would prefer to buy an existing home. People prefer new homes because they are new and there is less maintenance. They prefer existing homes because they are more affordable and they want to live in an existing community.

• Doubling up/multi-generational trends have increased with 30 percent of respondents saying they've "doubled up" and live with adult children or parents.

• It's a good time to remodel. Forty-two percent of owners say now is a good time to remodel. Top remodeling priorities are maintenance and energy efficiency. Most homeowners will pay for remodeling from personal savings.

• Retiring in place remains popular with 60 percent of homeowners planning to stay in their current home for their entire retirement.

Being a homebuyer can be stressful, let us work for you and eliminate the stress! Give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Wednesday, November 2, 2011

Is a Smaller Home for You?

Provided By Realty Times

Studies over the past few years have shown a solid trend regarding home sizes. Buyers today want smaller homes with smaller price tags. During the boom era in the mid-2000's, homeownership was about McMansions and spacious sprawls. The recent recession and continued ailing recovery have made many families rethink their budgets and lifestyles. A 9.1 percent unemployment rate hasn't "helped."

So, this question is posed. How much space does your family really need? This isn't a simple cut and dry question. Every family has different needs and dynamics.

Let's put things into perspective, though. Having a large, show-stopper home doesn't equate with family happiness. Many families in centuries past lived happily in one room cabins and small-scale homes.

There are social benefits to sharing tighter quarters. Some families feel that smaller homes forces more together time, which means more time for bonding and strengthening relationships.

Smaller homes mean reduced costs across the board. Let's examine these for a moment. Property taxes are based on the value of your land and home. While more prestigious neighborhoods and homes within city limits typically pay higher taxes, remember that a smaller home in that same prestigious neighborhood will pay a smaller dollar amount in taxes each year. Maintenance costs are also lower. It costs much less to replace a roof on a 1,000 square foot house than it does on a 6,000 square foot one!

The same goes for home insurance and, let's not forget, the actual purchase price of the home. Reduced size means reduced costs.

Perhaps the most important item is reduced energy costs. Smaller homes take less energy (and money) to heat and cool. Plus, there are fewer rooms and that means fewer lights to be left on!

Today's standard home, according to recent statistics from the Census Bureau’s Survey of Construction, is 2,150 square feet. This is down considerably from the boom era seen just 5 or 6 short years ago.

These standard houses have 2.5 baths and 3 bedrooms. Can your children share a bedroom? You bet. It can teach responsibility, sharing, and how to get along with others. These are all great lessons to learn as a child.

These standard houses also feature a garage, central air, a fireplace, separate dining room, and three miscellaneous rooms. This doesn't sound like a one room shack! It's simply an adjustment from the McMansions that boasted media rooms, exercise rooms, 5+ bedrooms, and a bathroom for every member of the family.

Just 60 years ago, when many people's grandparents or parents were first entering the housing market, the average home was just 1,000 square feet. Quaint and charming, these houses made warm and loving homes.

If you're thinking of entering the housing market and are feeling trapped by shrinking budgets, just remember that smaller houses can be just as charming, functional, and full of love!

If you are looking at home options give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Monday, October 31, 2011

Happy Halloween





Happy Halloween from everyone at Keller Williams Rockwall!

Monday, October 24, 2011

Keeping Up The Yard Through The Winter

Provided By Realty Times

This is the time when people start to want to stay indoors a bit more, especially when the temperatures significantly drop.

But you can't neglect your outdoor patios and decks, especially if you plan to sell soon. Buyers won't want to see broken-wood decks or corroded wrought iron patio sets in your backyard.

The good news is that if you prepare ahead, you can save yourself time and money. Taking some good housekeeping steps now will allow you to step outside into the fresh spring air next year to a well-preserved outdoor space.

Where to begin? First, if your deck is looking a little worn and tired, make the necessary repairs now. Don't wait until you can stick your foot through a board (like I did). That's not only dangerous but it also mandates a quick fix.

Give your deck a good cleaning and sealing or staining before the weather gets too cold and wet to do this. Make sure you check for loose nails and get rid of any splintery edges by sanding them down. Seal with waterproofing sealants. For these, generally the weather has to be above 32 degrees F and 50 degrees F for sealing and stains, respectively, to work properly.

Put the clippers to work. Take a good look around your yard and decide which plants need to go. Many annuals may have been killed by frost and it's time to clear them away. Keep your flowers keep them looking good by trimming away dead leaves. If you cut your plants back now it will cause them to grow and flower more effectively later on.

Add seasonal plants. You can still have some nice color in your yard if you get the right plants for your yard's climate. Kale and ornamental cabbage are attractive. In warmer climates try primroses for winter color.

Use creative containers with your seasonal plants. Putting a perennial plant in a beautifully painted container can add style and allure to your patio all winter long.

Plant potted vegetables. Nothing's better than fresh food especially when it comes from your own yard. There are some cool-weather vegetables that work well in pretty pots. Things like lettuce: kale, leaf, mustard, and Chinese cabbage are good for this. Also, don't forget herbs; they'll come in handy for the holiday dinners.

Get artsy. Making your yard look good in winter is also about what you leave outside. Those brightly colored throw pillows and rugs that worked great in summer, of course, should be brought inside. Instead get creative with lights that give a sparkle on a cold winter night. Hang plants with ornaments on them. Also, hang bird feeders to attract birds.

Taking a few simple steps to keep your deck, yard, and outdoor furniture in good condition will give you an easy progression into spring. And, if you're listing your home for sale in the winter, these steps are sure to please buyers

Friday, October 14, 2011

Tips for Saving

Provided By Realty Times

Saving money for a downpayment is a very worthy goal. Homeownership has been shown to be a good long-term investment that creates family and community stability.

The National Association of Realtors' 2010 Social Benefits of Homeownership and Stable Housing study found some delightful upsides of becoming a homeowner, such as it making "a significant positive impact on educational achievement," and "evidence of the positive impact of homeownership on health even after controlling for factors like income and education.'

Many families find finances to be tight. Money comes and goes. How can you budget your life so that homeownership turns from a dream into reality?

First, be realistic about your current expenses. Take a few weeks to a month to track every expenditure. If you use a debit card for every purchase, you may already be able to go into last month's records for a break-down. Divide expenses into columns: rent/mortgage, groceries, household expenses, travel, fuel, dining out, entertainment, clothing, etc.

Now, align that list with your monthly income. Are you sending out more than you're taking in? Today's economy is not a time to be cutting it close. If homeownership is truly a goal, then you should make sure that you are saving all you can.

Decide what things can be done without. Are you overspending on dining out or going to movies? Try to find alternatives that cost less or content yourself with home-cooked goodness and Netflix! A typical night out can cost anywhere from $50 to $100. If you save that money each week it adds up to $2,600 to $5,200 a year!

The same goes for cable or satellite TV. Many people pay tons each month for their beloved channels. At $100 a month, that adds up to $1,200 a year.

Start a savings account that is specifically for your downpayment. Put money in it at the beginning of each pay period. We tend to spend a dollar here or a dollar there when we have it accessible in our daily accounts. Be tough on yourself and transfer the funds to savings as soon as you have them. Then watch them grow!

Find other ways to save on money. Some families shop sales and with coupons. It's time downgrade other parts of your life. Do you really need a luxury car and latest fashions or will a cheaper model and recycled fashions be sufficient?

Many companies offer family plans, such as gyms and cell phone providers. Credit card companies may be willing to negotiate a lower rate on your balances. Be willing to talk to companies to see what deals they offer!

The act of savings can be hard in our society. Everything we "want" is right at our fingertips, either down the block or on the Internet. The key to reaching your goal is to keep your focus. It will be worth it!

Wednesday, October 12, 2011

Fannie, Freddie expand allowable foreclosure assistance for military

Provided By Housing Wire

Fannie Mae and Freddie Mac will allow military members to claim a permanent change of station order as a hardship to be evaluated for foreclosure assistance.

In September, the Treasury Department clarified that rule for veterans looking for help through the Home Affordable Foreclosure Alternatives program after many called in requesting a change.

According to Fannie guidance released Friday, GSE servicers may evaluate a borrower for assistance if they fall behind on their mortgage because of a distant employment transfer. Fannie said it would provide more guidance on eligible hardships soon.

A spokesman for Freddie said its guidance states that documentation is not required by the servicer if the military member claims a permanent change of station order as a hardship.

Fannie recently began granting a six-month forbearance to families of service members who were killed or injured on active duty and also created a hotline just for military families to call if they get in trouble on their home loan.

"Fannie Mae has a long standing commitment to our men and women in uniform," said Terry Edwards, executive vice president of credit portfolio management, at Fannie.

Monday, October 10, 2011

Time to Move up?

Provided By Realty Times

The market if fraught with scary headlines and ominous news reports. Could the economy slip once more into a recession? Will home prices fall even further? It's enough to make even the bravest buyer a little squeamish.

The truth of the matter is that now is a fantastic time to buy. Interest rates are wonderfully low and affordabilty rates are at record highs. Not only that, but there is an oversupply of homes on the market. Now is a great time to move up if you play host to the right set of circumstances.

In order to evaluate if now is the time for you to buy, consider these five issues.

1. Interest Rates: Low rates translate into smaller monthly payments and less money over the long-term. The Federal Reserve has promised to keep interest rates low for the foreseeable future, but in the next few years we could see rates climb back upward. If you have excellent credit, you'll likely qualify for an exceptional rate. Better yet consider doing an all-cash purchase (like the nearly 30 percent of the market) and avoid interest rates altogether!

2. Why are you buying?: This is an important question to spend some time pondering. Don't move on a whim. What is the real need to move? Many move-ups need more space, want to claim a more prestigious address, or are ready to settle down for good and want to be exactly where they've always dreamed. Perhaps your current home is unable to be remodeled to accommodate your wants and needs. Regardless of the reason, be sure to spend ample time thinking about what move is best for your family.

3. Equity: Home values have fallen across much of the country and this could mean that equity you had built over the past few years is gone. Talk to a local real estate agent about the current market value of your home before deciding if now is a time to buy. Most sellers aren't willing to take a loss on their home. The good news? If you've owned your home for many years (at least five) then chances are you do indeed still have equity.

4. Financial Stability: There's a 9.0 percent unemployment rate that doesn't appear to be going anywhere fast. Moving up can mean bigger payments or heftier bills (energy costs, property taxes, etc). Are you ready to take on this new responsibility? Be sure that you have steady employment, adequate retirement savings, an 8+ month emergency fund, as well as savings for downpayment and other closing costs.

5. Family Concerns: There are many different stages to life and at each of these stages one must consider how actions will affect family members. A family with young children will need to consider school districts, sports teams, and friends. A couple nearing retirement may want to consider the needs of children or grandchildren that live nearby. Buying a home is about much more than making a sound financial decision, it's about creating the sort of life you desire.

Moving-up can be part of the fulfillment of a life long dream. Many couples simply can't wait for the day they step inside their perfect home. Now is a great time to make those dreams a reality, just be sure to toss in a little sensibility with your dreaming.

Are you ready to upgrade your home? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.

Friday, October 7, 2011

Fixed-Rate Mortgages Lowest on Record

Provided By Realty Times

MCLEAN, Va., -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), coming on the heels of the Federal Reserve's recent announcements. The conventional 30-year fixed averaged an all-time record low at 4.01 percent; likewise the 15-year fixed averaged an all-time record low at 3.28 percent for the week. Of the five regions surveyed in Freddie Mac's survey, the West region recorded the lowest average rate for the 30-year fixed dipping below 4.00 percent to 3.95 percent.

30-year fixed-rate mortgage (FRM) averaged 4.01 percent with an average 0.7 point for the week ending September 29, 2011, down from last week when it averaged 4.09 percent. Last year at this time, the 30-year FRM averaged 4.32 percent.

15-year FRM this week averaged 3.28 percent with an average 0.7 point, down from last week when it averaged 3.29 percent. A year ago at this time, the 15-year FRM averaged 3.75 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.02 percent this week, with an average 0.6 point, matching last week when it also averaged 3.02 percent. A year ago, the 5-year ARM averaged 3.52 percent.

1-year Treasury-indexed ARM averaged 2.83 percent this week with an average 0.6 point, up from last week when it averaged 2.82 percent. At this time last year, the 1-year ARM averaged 3.48 percent.

Frank Nothaft, vice president and chief economist at Freddie Mac, reports, "Fixed mortgage rates fell to all-time record lows this week following the Federal Reserve's announcement of its Maturity Extension Program and additional purchases of mortgage-backed securities. Interest rates for ARMs, however, were nearly unchanged as the Federal Reserve plans to sell $400 billion in short-term Treasury securities, which serve as benchmarks for many ARMs."

"Meanwhile, the spring and summer home-buying season gave a boost to a number of house price indexes. The Federal Housing Finance Agency reported that its National index (not seasonally adjusted) rose for the fourth consecutive month in July. Similarly, the S&P/Case-Shiller® 20-City composite index, which has a broader scope of properties, rose 0.9 percent between June and July with 17 of the cities experiencing positive monthly growth. Finally, CoreLogic® reported that its index, excluding distressed sales, increased at a 1.7 percent monthly rate for the same month."

To learn more about fixed mortgages give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Wednesday, October 5, 2011

What to do before making an offer

Provided By Trulia

Research the market
In a hot market -- where homes sell rapidly and buyers clamor to purchase homes (a "seller's market") -- you have less pull as a buyer than you have in a cool housing market, where there's a large inventory of homes for sale (a "buyer's market).

So, you'll want to know whether the local market you're looking to buy in is a cool or a hot one.

You can research your target market's temperature by looking up the ZIP code's market stats and trends on Trulia. This information will show if prices are headed up or down, if the number of home sales are increasing or decreasing and what the average listing price and median sales prices are. The more information you have, the better you'll be at putting together an offer and the more leverage you'll have at the bargaining table.

Cruise comparables
Use Trulia to pull up data on nearby recently sold homes that are most like the one you're considering. (The homes should have about the same number of bedrooms and baths as your target house, and be in relatively the same condition.) These homes -- called comparables -- will give you an idea of what buyers may be willing to pay for the home you like -- and how much you may want to offer, depending on how recently these homes were sold and whether there have been significant market changes since then.

You should also take a look at the asking prices of local houses for sale that are most like your target home and compare how those prices stack up against the listing price of your target house.

Hit the pavement
Trulia has made the job of finding comparables easy, but be sure to check out comparable homes in person to get a true comparison of how these homes rate against yours. Stats and figures tell a lot about a home, but they can't fully express how a home looks and feels.

Get the 411
Pull up the property on Trulia and look up when the seller purchased it and for how much. A seller who purchased a home many years ago at a comparably low price may be more willing to negotiate on price than one who bought the house recently at a relatively high price.

Check the clock
In real-estate lingo, the amount of time a home has been for sale is called "days on market" (or DOM). You can get a feel for this by looking up how long the home's listing has been on Trulia or work with a real estate agent to find out how long the property has been for sale.

The longer a home has been on the market, the more anxious a seller may be to sell. Also, a homeowner who's just listed his house for sale is less likely to accept a bid below asking price than an owner who's been waiting months for a buyer.

Inspect
Look beyond the home's recently painted interior and nicely landscaped yard to determine the true condition of the property. If you're not handy yourself, bring along a friend or family member who could easily spot expensive and troublesome problems like leaky roofs, cracking foundations and major termite damage.

Test out the commute
Even if the home turns out to be a gem on further inspection, it may not seem like one if the drive to and from your job to your new home is a bear. Test out the morning and evening commutes to see just how bad -- or good -- the drive is.

Explore the neighborhood
A house doesn't exist in a vacuum -- it sits in a neighborhood full of neighbors, noises, even smells. Get to know the home's surroundings to determine whether it's a good fit for you. It's best to visit the neighborhood at different hours and different days, because a neighborhood that's quiet by day might be hopping at night (or vice versa).

Get a second (or a third) opinion
Sometimes love is blind, and a house that has you at first sight could turn out to be everything you've wished for (or everything you'd never wish for). Have a trusted friend or family member look at the home to get an objective opinion.

Secure financing
Take a serious look at your finances and determine how much you can afford to spend on a home. Also calculate how much you have for closing costs and a down payment. If you'll need a home loan, investigate your options both online and in person with a lender and get pre-approved (with a pre-approval letter from the lender) for a loan. A pre-approval means that the lender thinks you'll qualify for a given loan amount.

Having that pre-approval (which points to your ability to purchase the home) will put you in better position with the seller should you decide you do want to buy that home.

Are you ready to purchase a home? Give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Monday, October 3, 2011

Autumn Landscaping

Provided By Realty Times


Fall is the perfect time to add new life to your yard. The heat of the summer has passed and cold, hard frosts are still weeks or months away. This second chance planting season allows you to amp up your curb appeal.

Here are some lovely ideas for autumn planting!

Selecting the right plants, trees, and shrubs can be overwhelming. Many nurseries are full of colors, sizes, and varieties of plants. There are so many choices you don't know where to begin.

The initial step is to create a plan of action. Without a solid design plan you may end up having random plants that look ... random. Think both long and short term. What plants do you want now and how do you want your yard to appear years down the road.

To make sure everyone is on the same page, illustrate your plan on a large sheet of paper. Make notes for shapes of flower beds, what types of plants you want, where you'll mulch, and what size plants you'll need.

Next, do your research. Sometimes the best source of information is the nursery itself. You can see up close and personal what plants will fit within your design plan. Do you want small, evergreen shrubs for your front bed? Boxwoods are a great choice! Are you looking for a shrub with a bit more color? Consider using bayberry.

Think about how plants will look during the different seasons. Are there flower beds that will be filled with annuals during the summer and will be dormant in the Winter? Consider adding evergreen shrubs, such as holly, spruce, or yew in order to keep green color all year!

Now that you have a plan and know what plants are available, it's time to load up the car with the latest finds! Consider how long you have until the first frost. Plants need several weeks to become established.

Consider that flower beds look best when layered in textures, color, and sizes. Begin with taller shrubs in the back of a bed and work your way down.

When planting your shrubs and trees, be sure to dig a hole that is twice the size of the root ball. Stamp the dirt to remove air from the soil and then water well. Be sure to give plants plenty of room! Most plants and trees come with spacing instructions. Take into account how big trees will become 40 years down the road!

Many bulbs also need to be planted during the Fall. If you want beautiful hyacinths and tulips this next Spring, then do your planting in the Fall. Allow these items to settle a few weeks before topping with a think layer of mulch. Plus, remember to sweep aside the mulch when Spring arrives!

Fall is a wonderful time to spruce up your yard. Be thoughtful with your design and plant choices and you're sure to create a beautiful accent to your home.


Would you love to landscape your lawn at your NEW home? Give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Friday, September 30, 2011

Don't Misjudge a Property by Its Street Face

Provided By Realty Times

For real estate buyers, the process of purchasing a home, or cottage, can be overwhelming. Many purchasers, particularly first-time or first-time-in-a-long-time buyers, are relieved that at least part of the process is easy—viewing properties. That's where they make a big mistake.


It seems easy.

Look at a house from the street, and you either like it or you don't.
Walk through a house or condominium in 30 minutes or less, and you either love it or hate it.
Pretty presumptuous. Without specific construction knowledge and an eye for interior design—and in less time than typically spent picking out new clothes—buyers decide where to invest hundreds of thousands of dollars which they usually have to borrow. After one brief viewing, do you know that particular house, townhome, condominium unit, or recreational property well enough to know "This is it"?

The odd thing is that buyers know they can be tricked.

There are enough makeover television shows, websites, and publications making millions doing just that. The "before" picture is a dump. The "after" picture is stunning. Usually, it's just paint, nicer furniture, and talented interior design that makes the difference that buyers pay for.
Smells are a big turn off, yet buyers know that if smell-cancelling products had been sprayed around, the place would smell sweet, but they still pass on a chance for a sweet price.
Bad decorating or sloppy housekeeping generates "I couldn't live here" reactions. Yet, buyers are not moving in with the seller, furnishings and decor intact. Viewing a property means imagining your own furniture and decor in place of what's there now. Won't be long before a program or app will allow buyers to do exactly that with each potential buy. Until then, forget whether you'd want to live with the sellers, and concentrate on placing your personal stamp on the property to test its home-worthiness.
Logically, TV's demonstrated cosmetically-induced increase in real estate value should have buyers searching for money-saving "before" real estate. Instead, an industry has been carved off the real estate profession—staging—to superficially transform the saddest "before" real estate into a stunning "after." Buyers now willingly pay more (that's really borrow more) to view and buy an "after."

Real estate professionals are always ready to help buyers see genuine value in a "fixer upper," which often just need new paint and an up-dated look. Their training and experience has taught real estate professionals to first appraise properties by location and quality of construction. Then they add on or subtract the elusive amount that represents market appeal, or the lack of it, to arrive at market value.

While interest rates remain low, buyers continue to search for their "dream home." As interest rates rise and economies tighten, the drive for a "real buy" may overtake the bedazzled-style of buying. The uncertainty of investment markets will also place the emphasis on buying substance which will steadily appreciate in value over time.

If you decide to search out a great "real buy," there are a few of PJ's Smarten UP tips to keep in mind:

Virtual tours can reveal traffic flow problems and unappealing features, but they should not be a deciding "no view" factor if the location is ideal and the price affordable.
Curb appeal may get you in, but a property's bad street face should not keep you out when the location is great. If fewer people see the inside, competition will be lower. The property may be on the market longer, so the property owners more flexible. If curb appeal is lacking, when you're the owner you'll make money by adding value to the exterior.
Major structural issues like sagging beams and "in the way" bearing walls will cost money, so arrange professional estimates to back up an offer that reflects the costs ahead.
Plumbing and electrical work are a another expense. Knob and tube wiring may not be insurable, so be sure home inspectors know their job and are thorough. Too many times, electrical service has been doctored to look as if knob and tube has been removed, but it was merely patched with new wiring in visible places.
Particularly in southern Ontario, termites are increasingly a problem. Not discussed openly, there are specific areas of Toronto and other communities where termites flourish and they aren't going away. The key is protecting your property by treating the soil regularly. Is a great location worth that to you?
Do not look at furnishings or colour choices, especially great ones. Problems can be hiding under cosmetics. Anything newly-done should be examined closely. Watch makeover shows to see "what" will hide "what."
Viewing potential real estate is just as complex as every part of buying. Whether or not you love the real estate's street face, give it a good going over if the location and price are right for you. It's not what you see but what you know about real estate that make it and you valuable.

Looking for a great home? Give us a call at 972-772-7000 or email us at frontdesk552@kw.com.

Wednesday, September 28, 2011

Choosing The Best Lender

Provided By Yahoo!

You're shopping for a mortgage and you've received four offers from four lenders. How do you choose? The first factor most people consider is the interest rate and other costs, but that's only the beginning. You'll also want to think about the lenders themselves, not simply the numbers they're tossing your way.

Here are five steps to follow when determining which lender is right for you:

1. Compare fees as well as interest rates

Comparing loans based on their annual percentage rate (APR) is a good place to start, but it's not enough. In the case of a mortgage, to get a more accurate breakdown of costs, ask the various lenders for a formal "good faith estimate" of all the fees you'll incur with your loan -- this is a standard form lenders must provide you that is more detailed than the overview you'll get with an offer. Also, ask about potential charges that may not appear on that list, such as prepayment penalties. You're not just comparing numbers here: determine how honest and upfront you feel the lender is being, and don't use a lender that you feel is evading your questions.

2. Consider your individual circumstances

Bigger lenders aren't necessarily better than smaller ones, especially if you have unusual circumstances. For example, some lenders specialize in loans for people with poor credit, while others may have more options for those with small down payments. If you have special borrowing needs, look for a lender with experience working with people in similar situations.

3. Look at the range of loan types available

There are more loan options available than ever before, so take advantage of all that choice. Look for a lender who offers a wide variety of loan types, from conventional fixed-rate and adjustable-rate to newer ones such as hybrid ARMs and option ARMs. Your lender should be able to match you with a mortgage that's right for your financial situation and risk tolerance.

4. Evaluate the level of customer service

When you're comparing offers, ask each lender about their policy regarding locking in their quoted rates and see whether there is a fee. Also, ask them to amend one of the terms (such as a payment cap) and see how willingly they agree. You're looking for flexibility and responsiveness. And also note how well they listen to you. If you ask for a 30-year fixed-rate mortgage, they ought to present that as an option, not push you toward something different, such as an interest-only loan. If you're not getting good service from a lender who is competing for your business, you're not likely to get it after you've agreed to work with them.

5. Check out the lender's reputation

Word of mouth is important in every business, including the loan market. If you've never worked with a particular lender, you'll want to find out the opinion of people who have.

Are you ready to purchase a home? Give us a call at 972-772-7000 or email us at frontdesk552@kw.com.