Ever notice how most homes are designed to fit the average family, with average needs and average incomes?
But what happens if you're not average? …………..Sterling Oak is a custom home builder in the North Tarrant, South Wise and South Denton Counties.
We believe that houses can be beautiful, but the owner's taste and unique selections make houses homes. And when your house reflects your personality, you feel at home.
At Sterling Oak, we want to help you create your dream home regardless of the size or your budget.
At Sterling Oak each home is constructed the old-fashioned way – through quality construction and a commitment to serving our clients. It is the way homes used to be built and the way Sterling Oak builds them today - with pride and attention to detail. Yet, we rely on our state-of-the-art processes and technology to get you the best products and prices. We are committed to the highest standards in new home construction.
That is why we are designated as a Graduate Master Builder by the National Association of Home Builders and a Texas Star Builder by the State of Texas. Our goal is to build a home you will love every day you live there.
We offer innovative designs that are not only flexible, but can reflect your distinctive tastes. And if you want to start from scratch, we can do that as well.We urge you to visit any one of our models and compare us to those of other builders. Once you do, we're confident that you will discover the unbeatable value Sterling Oak offers.
Gary M. Schecter
President
Tuesday, December 16, 2008
Monday, December 15, 2008
Real Estate Financial News
We’ve reached a juncture in the credit markets where it really doesn’t matter how low interest rates go -- banks are refusing to lend and consumers either have no desire to borrow – or they are in such troubled financial straits they can’t meet the qualification criteria for a loan.
So what’s the Fed to do?
Many believe the Fed will announce in their post-meeting statement tomorrow afternoon (2:15 p.m. ET) that the answer to rekindling economy growth is actually quite simple – print money like crazy.
In a nutshell the idea here is that by flooding the economy with money – banks will ultimately find themselves bursting at the seams with capital – and they will essentially have no other option than to start lending.
As the short-term credit market swings back into action, business confidence will rise, employment will improve and the engines of commerce will roar back to life.
Silver Oak Mortgage
Lisa Warren
Branch Manager
751 E Southlake Blvd Ste 100
Southlake, TX 76092
office 817-410-2518
fax 817-410-2519
We’ve reached a juncture in the credit markets where it really doesn’t matter how low interest rates go -- banks are refusing to lend and consumers either have no desire to borrow – or they are in such troubled financial straits they can’t meet the qualification criteria for a loan.
So what’s the Fed to do?
Many believe the Fed will announce in their post-meeting statement tomorrow afternoon (2:15 p.m. ET) that the answer to rekindling economy growth is actually quite simple – print money like crazy.
In a nutshell the idea here is that by flooding the economy with money – banks will ultimately find themselves bursting at the seams with capital – and they will essentially have no other option than to start lending.
As the short-term credit market swings back into action, business confidence will rise, employment will improve and the engines of commerce will roar back to life.
Silver Oak Mortgage
Lisa Warren
Branch Manager
751 E Southlake Blvd Ste 100
Southlake, TX 76092
office 817-410-2518
fax 817-410-2519
Daily Real Estate News
Keeping Costs Down in Vacant Homes
Having a getaway home can be a treat during the winter, even if the home is located in a cold climate.
However, costs can add up quickly when you leaving that second home vacant, but ready for use.
Here are some ways to lower costs:
* Weatherstrip all the doors and windows and make sure that the heating and air conditioning ductwork has no leaks. Install maximum insulation.
* Pay attention to the thermostat. Heating load is proportional to the difference between outside and inside temperature. If it is 10 degrees colder outside than the desired indoor temperature, turn the thermostat down 1 degree and save 10 percent on energy. If there is a 20-degree difference between indoor and outdoor temperatures, turning the thermostat back one degree will only save 5 percent on energy.
* Turn back the water heater. Even if someone will occasionally shower there, keeping the water heater set at 115 degrees keeps the water at a comfortable temperature and saves money compared to usual settings.
* Unplug appliances, televisions and anything else that is on standby. The standby features use lots of watts. For instance, a microwave oven uses as much energy to run the clock as it does to cook.
Source: The New York Times, Billie Cohen (12/11/2008)
Having a getaway home can be a treat during the winter, even if the home is located in a cold climate.
However, costs can add up quickly when you leaving that second home vacant, but ready for use.
Here are some ways to lower costs:
* Weatherstrip all the doors and windows and make sure that the heating and air conditioning ductwork has no leaks. Install maximum insulation.
* Pay attention to the thermostat. Heating load is proportional to the difference between outside and inside temperature. If it is 10 degrees colder outside than the desired indoor temperature, turn the thermostat down 1 degree and save 10 percent on energy. If there is a 20-degree difference between indoor and outdoor temperatures, turning the thermostat back one degree will only save 5 percent on energy.
* Turn back the water heater. Even if someone will occasionally shower there, keeping the water heater set at 115 degrees keeps the water at a comfortable temperature and saves money compared to usual settings.
* Unplug appliances, televisions and anything else that is on standby. The standby features use lots of watts. For instance, a microwave oven uses as much energy to run the clock as it does to cook.
Source: The New York Times, Billie Cohen (12/11/2008)
Wednesday, December 10, 2008
Extreme Makeover: Keller, TX 76248
http://frontburner.dmagazine.com/2008/12/08/extreme-makeover-house-revealed/
The tentative Build Schedule (all times subject to change):
* Monday, December 8: Knock Day. Media may arrive at 3:45 p.m. for a press conference with the family at 4:00PM is planned for approximately
* at the home site location, 2880 Keller Hicks Road, Keller, TX 76248. Please note: the street will be closed, and security will instruct media members where to park.
* Wednesday, December 10: Braveheart Walk to kickoff of the build. Media check-in is at 8:00AM; Braveheart Walk at approximately 9:00AM. Braveheart Speech by Steve Wall will follow the walk, then demolition will begin immediately thereafter.
* Thursday, December 11: Framing throughout the day, followed by non-stop building for the next several days and nights.
* Monday, December 15: House Reveal, also known as the time for “Move that Bus!”
* Tuesday, December 16: Press Conference at new home. Time for Press Conference will be announced later.
Posted on December 8th, 2008 11:06am by Tim Rogers
Filed under Entertainment, Media, Real Estate, Television
The tentative Build Schedule (all times subject to change):
* Monday, December 8: Knock Day. Media may arrive at 3:45 p.m. for a press conference with the family at 4:00PM is planned for approximately
* at the home site location, 2880 Keller Hicks Road, Keller, TX 76248. Please note: the street will be closed, and security will instruct media members where to park.
* Wednesday, December 10: Braveheart Walk to kickoff of the build. Media check-in is at 8:00AM; Braveheart Walk at approximately 9:00AM. Braveheart Speech by Steve Wall will follow the walk, then demolition will begin immediately thereafter.
* Thursday, December 11: Framing throughout the day, followed by non-stop building for the next several days and nights.
* Monday, December 15: House Reveal, also known as the time for “Move that Bus!”
* Tuesday, December 16: Press Conference at new home. Time for Press Conference will be announced later.
Posted on December 8th, 2008 11:06am by Tim Rogers
Filed under Entertainment, Media, Real Estate, Television
Monday, December 8, 2008
Click here Allen,TX for Local Events, Community Corner, Groups & Organizations, Shops & Services, and much more....
Thursday, December 4, 2008
Treasury Department Considers Plan to Lower Mortgage Rates
Financial industry lobbyists are urging the Treasury Department to take steps to lower rates on 30-year mortgages to 4.5 percent.
WASHINGTON -- Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates and help stabilize the battered U.S. housing market.
Under one proposal, Treasury would seek to lower the rate on a 30-year mortgage to 4.5 percent by purchasing mortgage-backed securities from Fannie Mae and Freddie Mac, Scott Talbott, chief lobbyist at the Financial Services Roundtable, said Wednesday.
If enacted, such a plan would be an unprecedented opportunity for anyone with good credit and a solid income who could qualify for a mortgage at the lowest rates on records dating to the early 1960s, said Keith Gumbinger, senior vice president at financial publisher HSH Associates.
"You would have the mother of all re-fi booms," said mortgage industry consultant Howard Glaser.
The goal of the industry's proposal would be to take advantage of the unusually large difference, or spread, between mortgage rates and yields on government debt. On Wednesday, the yield on the 10-year Treasury note yield sank as low as 2.65 percent, while the national average rate on a 30-year fixed rate mortgages was 5.75 percent, according to HSH Associates.
In recent years, there has been about a 1.8 percentage point difference between the yield on a 10-year Treasury note and a 30-year mortgage rate, but that spread currently hovers around 3 percentage points.
Analysts said that the government could use its ability to borrow money at low rates to in essence flood the market for mortgage-backed securities. This increased demand would tend to push down the yield on mortgage securities sold by Fannie and Freddie, which now average about 5.5 percent because of investor concerns about default risks. Once those yields fall, the theory goes, lower mortgage rates should follow.
That would have two benefits for the economy: Immediately adding money to the pocketbooks of homeowners who can refinance their mortgages and reduce their monthly payments, and eventually help arrest the slide in home prices since much lower mortgage rates would allow more potential buyers to qualify for loans.
"The goal is drive mortgage rates so low that home prices not only stop falling but begin to rebound," said Greg McBride, senior financial analyst at Bankrate.com.
If the government does buy up mortgage securities, it would be similar to the effort announced last week by the Federal Reserve to purchase up to $500 billion of mortgage-backed securities from Fannie and Freddie. The two mortgage giants, which were seized by federal regulators in September, own or guarantee about half of the $11.5 trillion in U.S. outstanding home loan debt.
The Fed, however, did not announce a specific target for mortgage rates, which plunged about a half percentage point after the announcement.
That caused new mortgage applications to more than double last week, according to the Mortgage Bankers Association's weekly survey released Wednesday. Refinance volume more than tripled, and made up for nearly 70 percent of all applications.
Still, the industry plan is not likely to help borrowers whose credit is so damaged that banks don't want to lend to them.
"It doesn't do anything to help all the borrowers facing foreclosures," said Guy Cecala, publisher of Inside Mortgage Finance, a trade publication. "It's going to benefit the people who have equity in their home, who have decent credit and can refinance." Treasury is considering several options, and could announce a decision as early as next week, industry sources said.
Treasury spokeswoman Brookly McLaughlin said she would not comment on speculation about actions the department may take in the future.
The proposal was reported Wednesday afternoon on The Wall Street Journal's Web site.
Treasury could make such a proposal as part of a request for the second $350 billion of the $700 billion financial rescue fund, industry sources said.
Treasury Secretary Henry Paulson has been criticized by members of Congress for using the bailout money to shore up Wall Street banks, while not doing enough to help homeowners facing foreclosure.
In recent weeks, a diverse set of industry groups from real estate agents to carpet makers have called on lawmakers and the incoming administration of President-elect Barack Obama to subsidize lower mortgage rates and beef up tax credits to help stimulate housing demand.
The National Association of Realtors has been pushing a plan under which the federal government would spend $50 billion to lower mortgage rates. It says doing so would yield about 500,000 more home sales.
Meanwhile, the National Association of Home Builders is leading a new "Fix Housing First" coalition to push for aid to the ailing housing sector, including a tax credit of up to $22,000 for anyone who buys a home before the end of 2009.
Click here to read more in The Wall Street Journal.
Lisa Warren
Branch Manager
751 E Southlake Blvd Ste 100
Southlake, TX 76092
office 817-410-2518
fax 817-410-2519
Financial industry lobbyists are urging the Treasury Department to take steps to lower rates on 30-year mortgages to 4.5 percent.
WASHINGTON -- Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates and help stabilize the battered U.S. housing market.
Under one proposal, Treasury would seek to lower the rate on a 30-year mortgage to 4.5 percent by purchasing mortgage-backed securities from Fannie Mae and Freddie Mac, Scott Talbott, chief lobbyist at the Financial Services Roundtable, said Wednesday.
If enacted, such a plan would be an unprecedented opportunity for anyone with good credit and a solid income who could qualify for a mortgage at the lowest rates on records dating to the early 1960s, said Keith Gumbinger, senior vice president at financial publisher HSH Associates.
"You would have the mother of all re-fi booms," said mortgage industry consultant Howard Glaser.
The goal of the industry's proposal would be to take advantage of the unusually large difference, or spread, between mortgage rates and yields on government debt. On Wednesday, the yield on the 10-year Treasury note yield sank as low as 2.65 percent, while the national average rate on a 30-year fixed rate mortgages was 5.75 percent, according to HSH Associates.
In recent years, there has been about a 1.8 percentage point difference between the yield on a 10-year Treasury note and a 30-year mortgage rate, but that spread currently hovers around 3 percentage points.
Analysts said that the government could use its ability to borrow money at low rates to in essence flood the market for mortgage-backed securities. This increased demand would tend to push down the yield on mortgage securities sold by Fannie and Freddie, which now average about 5.5 percent because of investor concerns about default risks. Once those yields fall, the theory goes, lower mortgage rates should follow.
That would have two benefits for the economy: Immediately adding money to the pocketbooks of homeowners who can refinance their mortgages and reduce their monthly payments, and eventually help arrest the slide in home prices since much lower mortgage rates would allow more potential buyers to qualify for loans.
"The goal is drive mortgage rates so low that home prices not only stop falling but begin to rebound," said Greg McBride, senior financial analyst at Bankrate.com.
If the government does buy up mortgage securities, it would be similar to the effort announced last week by the Federal Reserve to purchase up to $500 billion of mortgage-backed securities from Fannie and Freddie. The two mortgage giants, which were seized by federal regulators in September, own or guarantee about half of the $11.5 trillion in U.S. outstanding home loan debt.
The Fed, however, did not announce a specific target for mortgage rates, which plunged about a half percentage point after the announcement.
That caused new mortgage applications to more than double last week, according to the Mortgage Bankers Association's weekly survey released Wednesday. Refinance volume more than tripled, and made up for nearly 70 percent of all applications.
Still, the industry plan is not likely to help borrowers whose credit is so damaged that banks don't want to lend to them.
"It doesn't do anything to help all the borrowers facing foreclosures," said Guy Cecala, publisher of Inside Mortgage Finance, a trade publication. "It's going to benefit the people who have equity in their home, who have decent credit and can refinance." Treasury is considering several options, and could announce a decision as early as next week, industry sources said.
Treasury spokeswoman Brookly McLaughlin said she would not comment on speculation about actions the department may take in the future.
The proposal was reported Wednesday afternoon on The Wall Street Journal's Web site.
Treasury could make such a proposal as part of a request for the second $350 billion of the $700 billion financial rescue fund, industry sources said.
Treasury Secretary Henry Paulson has been criticized by members of Congress for using the bailout money to shore up Wall Street banks, while not doing enough to help homeowners facing foreclosure.
In recent weeks, a diverse set of industry groups from real estate agents to carpet makers have called on lawmakers and the incoming administration of President-elect Barack Obama to subsidize lower mortgage rates and beef up tax credits to help stimulate housing demand.
The National Association of Realtors has been pushing a plan under which the federal government would spend $50 billion to lower mortgage rates. It says doing so would yield about 500,000 more home sales.
Meanwhile, the National Association of Home Builders is leading a new "Fix Housing First" coalition to push for aid to the ailing housing sector, including a tax credit of up to $22,000 for anyone who buys a home before the end of 2009.
Click here to read more in The Wall Street Journal.
Lisa Warren
Branch Manager
751 E Southlake Blvd Ste 100
Southlake, TX 76092
office 817-410-2518
fax 817-410-2519
Wednesday, December 3, 2008
First-Time Home Buyer Tax Credit at a Glance
The tax credit is available for first-time home buyers only.
The maximum credit amount is $7,500.
The credit is available for homes purchased on or after April 9, 2008 and before
July 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
The tax credit works like an interest-free loan and must be repaid over a 15-year period.
NAHB is providing the information on this web site for general guidance only. The information on this site does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind nor should it be construed as such. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, you should consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question. None of the tax information on this web site is intended to be used nor can it be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
1201 15th Street, NW
Washington, DC 20005
202-266-8200
800-368-5242
Copyright © 2008 National Association of Home Builders. All rights reserved.
The tax credit is available for first-time home buyers only.
The maximum credit amount is $7,500.
The credit is available for homes purchased on or after April 9, 2008 and before
July 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
The tax credit works like an interest-free loan and must be repaid over a 15-year period.
NAHB is providing the information on this web site for general guidance only. The information on this site does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind nor should it be construed as such. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, you should consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question. None of the tax information on this web site is intended to be used nor can it be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
1201 15th Street, NW
Washington, DC 20005
202-266-8200
800-368-5242
Copyright © 2008 National Association of Home Builders. All rights reserved.
Tuesday, December 2, 2008
Exterior Door Selection and Installation
New exterior doors often fit and insulate better than older types. If you have older doors in your home, replacing them might be a good investment, resulting in lower heating and cooling costs. If you're building a new home, you should consider buying the most energy-efficient doors possible.
When selecting doors for energy efficiency, it's important to first consider their energy performance ratings in relation to your climate and home's design. This will help narrow your selection.
Types of Doors
One common type of exterior door has a steel skin with a polyurethane foam insulation core. It usually includes a magnetic strip (similar to a refrigerator door magnetic seal) as weatherstripping. If installed correctly and if the door is not bent, this type of door needs no further weatherstripping.
The R-values of most steel and fiberglass-clad entry doors range from R-5 to R-6 (not including the effects of a window.) For example: A 1-1/2 inch (3.81 cm) thick door without a window offers more than five times the insulating value of a solid wood door of the same size.
Glass or "patio" doors, especially sliding glass doors, lose heat much faster than other types of doors because glass is a very poor insulator. Most modern glass doors with metal frames have a thermal break, which is a plastic insulator between inner and outer parts of the frame. Models with several layers of glass, low-emissivity coatings, and/or low-conductivity gases between the glass panes are a good investment, especially in extreme climates. Over the long run, the additional cost is paid back many times over in energy savings. When buying or replacing patio doors, keep in mind that swinging doors offer a much tighter seal than sliding types.
Also, with a sliding glass door, it's impossible to stop all the air leakage around the weatherstripping and still be able to use the door. Also, after years of use, the weatherstripping wears down so air leakage increases as the door ages. If the manufacturer has made it possible to do so, you can replace worn weatherstripping on sliding glass doors.
Installation
When you buy a door, it will probably be a pre-hung frame. Pre-hung doors usually come with wood or steel frames. You will need to remove an existing door frame from the rough opening before you install a pre-hung door. The door frame must be as square as possible, so that the door seals tightly to the jamb and swings properly.
Before adding the interior trim, apply an expanding foam caulking to seal the new door frame to the rough opening and threshold. This will help prevent air from getting around the door seals and into the house. Apply carefully, especially with a wood frame, to avoid having the foam force the frame out of square.
If needed, you'll also want to add weatherstripping. Check the weatherstripping on your exterior doors annually to see if it needs replacement.
Storm Doors
Adding a storm door can be a good investment if your existing door is old but still in good condition. However, adding a storm door to a newer, insulated door is not generally worth the expense since you won't save much more energy.
Storm door frames are usually made of aluminum, steel, fiberglass, or wood (painted or not). Wooden storm doors require more maintenance than the other types. Metal-framed storm doors might have foam insulation within their frames.
High-quality storm doors use low-emissivity (Low-E) glass or glazing. Some doors have self-storing pockets for the glass in summer, and an insect screen for the winter. Some have fixed, full length screens and glass panels that slide out of the way for ventilation. Others are half screen and half glass, which slide past each other. Some are removable for cleaning, others are not. All of these features add some convenience and higher costs.
Never add a glass storm door if the exterior door gets more than a few hours of direct sun each day. The glass will trap too much heat against the entry door and possibly damage it.
Storm doors for patio doors are hard to find but they are available. Adding one to a new, multi-glazed, Low-E door is seldom economic. Insulated drapes, when closed for the night in the winter (or on sunny days in the summer) are also a good idea.
Weatherstripping
You can use weatherstripping in your home to seal air leaks around movable joints, such as windows or doors. To determine how much weatherstripping you will need, add the perimeters of all windows and doors to be weatherstripped, then add 5%–10% to accommodate any waste. Also consider that weatherstripping comes in varying depths and widths. Before applying weatherstripping in an existing home, you need to do the following (if you haven't already):
Detect air leaks
Assess your ventilation needs for indoor air quality.
Selection
You need to choose a type of weatherstripping that will withstand the friction, weather, temperature changes, and wear and tear associated with its location. For example, when applied to a door bottom or threshold, weatherstripping could drag on carpet or erode as a result of foot traffic. Weatherstripping in a window sash must accommodate the sliding of panes—up and down, sideways, or out. The weatherstripping you choose should seal well when the door or window is closed while allowing it to open freely.
Choose a product for each specific location. Felt and open-cell foams tend to be inexpensive, susceptible to weather, visible, and inefficient at blocking airflow. However, the ease of applying these materials may make them valuable in low-traffic areas. Vinyl, which is slightly more expensive, holds up well and resists moisture. Metals (bronze, copper, stainless steel, and aluminum) last for years and are affordable. Metal weatherstripping can also provide a nice touch to older homes where vinyl might seem out of place.
You can use more than one type of weatherstripping to seal an irregularly shaped space. Also take durability into account when comparing costs.
Application
Weatherstripping supplies and techniques range from simple to the technical. Consult the instructions on the weatherstripping package. Here are a few basic guidelines:
Measure the area to be weatherstripped twice before you cut anything.
Apply weatherstripping snugly against both surfaces. The material should compress when the window or door is shut.
When weatherstripping doors:
Choose the appropriate door sweeps and thresholds for the bottom of the doors.
Weatherstrip the entire door jamb.
Apply one continuous strip along each side.
Make sure the weatherstripping meets tightly at the corners.
Use a thickness that causes the weatherstripping to tightly press between the door and the door jamb when the door closes, without making it difficult to shut.
For air sealing windows, apply weatherstripping between the sash and the frame. The weatherstripping shouldn't interfere with the operation of the window.
Copyright © 2008 ( DFW Metro Green Consulting ) All rights Reserved.
New exterior doors often fit and insulate better than older types. If you have older doors in your home, replacing them might be a good investment, resulting in lower heating and cooling costs. If you're building a new home, you should consider buying the most energy-efficient doors possible.
When selecting doors for energy efficiency, it's important to first consider their energy performance ratings in relation to your climate and home's design. This will help narrow your selection.
Types of Doors
One common type of exterior door has a steel skin with a polyurethane foam insulation core. It usually includes a magnetic strip (similar to a refrigerator door magnetic seal) as weatherstripping. If installed correctly and if the door is not bent, this type of door needs no further weatherstripping.
The R-values of most steel and fiberglass-clad entry doors range from R-5 to R-6 (not including the effects of a window.) For example: A 1-1/2 inch (3.81 cm) thick door without a window offers more than five times the insulating value of a solid wood door of the same size.
Glass or "patio" doors, especially sliding glass doors, lose heat much faster than other types of doors because glass is a very poor insulator. Most modern glass doors with metal frames have a thermal break, which is a plastic insulator between inner and outer parts of the frame. Models with several layers of glass, low-emissivity coatings, and/or low-conductivity gases between the glass panes are a good investment, especially in extreme climates. Over the long run, the additional cost is paid back many times over in energy savings. When buying or replacing patio doors, keep in mind that swinging doors offer a much tighter seal than sliding types.
Also, with a sliding glass door, it's impossible to stop all the air leakage around the weatherstripping and still be able to use the door. Also, after years of use, the weatherstripping wears down so air leakage increases as the door ages. If the manufacturer has made it possible to do so, you can replace worn weatherstripping on sliding glass doors.
Installation
When you buy a door, it will probably be a pre-hung frame. Pre-hung doors usually come with wood or steel frames. You will need to remove an existing door frame from the rough opening before you install a pre-hung door. The door frame must be as square as possible, so that the door seals tightly to the jamb and swings properly.
Before adding the interior trim, apply an expanding foam caulking to seal the new door frame to the rough opening and threshold. This will help prevent air from getting around the door seals and into the house. Apply carefully, especially with a wood frame, to avoid having the foam force the frame out of square.
If needed, you'll also want to add weatherstripping. Check the weatherstripping on your exterior doors annually to see if it needs replacement.
Storm Doors
Adding a storm door can be a good investment if your existing door is old but still in good condition. However, adding a storm door to a newer, insulated door is not generally worth the expense since you won't save much more energy.
Storm door frames are usually made of aluminum, steel, fiberglass, or wood (painted or not). Wooden storm doors require more maintenance than the other types. Metal-framed storm doors might have foam insulation within their frames.
High-quality storm doors use low-emissivity (Low-E) glass or glazing. Some doors have self-storing pockets for the glass in summer, and an insect screen for the winter. Some have fixed, full length screens and glass panels that slide out of the way for ventilation. Others are half screen and half glass, which slide past each other. Some are removable for cleaning, others are not. All of these features add some convenience and higher costs.
Never add a glass storm door if the exterior door gets more than a few hours of direct sun each day. The glass will trap too much heat against the entry door and possibly damage it.
Storm doors for patio doors are hard to find but they are available. Adding one to a new, multi-glazed, Low-E door is seldom economic. Insulated drapes, when closed for the night in the winter (or on sunny days in the summer) are also a good idea.
Weatherstripping
You can use weatherstripping in your home to seal air leaks around movable joints, such as windows or doors. To determine how much weatherstripping you will need, add the perimeters of all windows and doors to be weatherstripped, then add 5%–10% to accommodate any waste. Also consider that weatherstripping comes in varying depths and widths. Before applying weatherstripping in an existing home, you need to do the following (if you haven't already):
Detect air leaks
Assess your ventilation needs for indoor air quality.
Selection
You need to choose a type of weatherstripping that will withstand the friction, weather, temperature changes, and wear and tear associated with its location. For example, when applied to a door bottom or threshold, weatherstripping could drag on carpet or erode as a result of foot traffic. Weatherstripping in a window sash must accommodate the sliding of panes—up and down, sideways, or out. The weatherstripping you choose should seal well when the door or window is closed while allowing it to open freely.
Choose a product for each specific location. Felt and open-cell foams tend to be inexpensive, susceptible to weather, visible, and inefficient at blocking airflow. However, the ease of applying these materials may make them valuable in low-traffic areas. Vinyl, which is slightly more expensive, holds up well and resists moisture. Metals (bronze, copper, stainless steel, and aluminum) last for years and are affordable. Metal weatherstripping can also provide a nice touch to older homes where vinyl might seem out of place.
You can use more than one type of weatherstripping to seal an irregularly shaped space. Also take durability into account when comparing costs.
Application
Weatherstripping supplies and techniques range from simple to the technical. Consult the instructions on the weatherstripping package. Here are a few basic guidelines:
Measure the area to be weatherstripped twice before you cut anything.
Apply weatherstripping snugly against both surfaces. The material should compress when the window or door is shut.
When weatherstripping doors:
Choose the appropriate door sweeps and thresholds for the bottom of the doors.
Weatherstrip the entire door jamb.
Apply one continuous strip along each side.
Make sure the weatherstripping meets tightly at the corners.
Use a thickness that causes the weatherstripping to tightly press between the door and the door jamb when the door closes, without making it difficult to shut.
For air sealing windows, apply weatherstripping between the sash and the frame. The weatherstripping shouldn't interfere with the operation of the window.
Copyright © 2008 ( DFW Metro Green Consulting ) All rights Reserved.
Monday, November 24, 2008
Invest in Your Business
Think Like a CEO, Not an Employee
A critical mind shift must take place to become a successful Real Estate Agent. First and foremost, you must think of yourself as the company owner and understand what it takes to fill the position of Chief Executive Officer. Whether you run a company of one or a company of ten, size doesn't matter. The key is to think like an entrepreneur.
Superstar and mega-producer Marty Rodriguez of Glendora, CA, has been named Number One Agent worldwide by Century 21*‚ four out of ten years in the past decade. In 2003, she closed 473.5 transactions, which grossed $169 million. Marty believes the key to "superstardom" among Real Estate Agents results from reinvesting in their businesses.
"Reinvesting in my business has had everything to do with my long-term success," she emphasizes.
Back in 1991, 1992 and 1993 when Marty ranked Number One, the Real Estate market was spiraling downward from a significant boom that took place in the late '80s. Many Real Estate Agents dropped out of the business like flies. But, in '91, Marty distinguished herself from the competition by reinvesting in her marketing.
She understood the need to capture a greater market share as the pie began shrinking massively. Raising the volume on her proactive marketing campaign was the first step in taking her business to the next level.
Simply put, employees just sit around wondering what their company has planned to assist them in becoming successful. But entrepreneurs and CEOs constantly think about opportunities they can create to take their business to the next level.
Like Marty, make sure you are reinvesting in yourself and your business. Make sure you are treating your business as your responsibility, your own independent company. What all successful companies must have to begin with is start-up capital; money that is needed to fuel the business, making it independent and enabling it to flourish as a corporation. As a Real Estate Agent, it means reinvesting in yourself.
Stay tuned for more Business Boosters coming your way!
*Century 21 is a registered trademark of Century 21 Real Estate Corporation.
by
Lisa Warren
Southlake Branch Manager
Silver Oak Mortgage
Phone: (817) 410-2518
Fax: (817) 410-2519
lwarren@somlp.com
www.silveroakmortgagelp.co
Think Like a CEO, Not an Employee
A critical mind shift must take place to become a successful Real Estate Agent. First and foremost, you must think of yourself as the company owner and understand what it takes to fill the position of Chief Executive Officer. Whether you run a company of one or a company of ten, size doesn't matter. The key is to think like an entrepreneur.
Superstar and mega-producer Marty Rodriguez of Glendora, CA, has been named Number One Agent worldwide by Century 21*‚ four out of ten years in the past decade. In 2003, she closed 473.5 transactions, which grossed $169 million. Marty believes the key to "superstardom" among Real Estate Agents results from reinvesting in their businesses.
"Reinvesting in my business has had everything to do with my long-term success," she emphasizes.
Back in 1991, 1992 and 1993 when Marty ranked Number One, the Real Estate market was spiraling downward from a significant boom that took place in the late '80s. Many Real Estate Agents dropped out of the business like flies. But, in '91, Marty distinguished herself from the competition by reinvesting in her marketing.
She understood the need to capture a greater market share as the pie began shrinking massively. Raising the volume on her proactive marketing campaign was the first step in taking her business to the next level.
Simply put, employees just sit around wondering what their company has planned to assist them in becoming successful. But entrepreneurs and CEOs constantly think about opportunities they can create to take their business to the next level.
Like Marty, make sure you are reinvesting in yourself and your business. Make sure you are treating your business as your responsibility, your own independent company. What all successful companies must have to begin with is start-up capital; money that is needed to fuel the business, making it independent and enabling it to flourish as a corporation. As a Real Estate Agent, it means reinvesting in yourself.
Stay tuned for more Business Boosters coming your way!
*Century 21 is a registered trademark of Century 21 Real Estate Corporation.
by
Lisa Warren
Southlake Branch Manager
Silver Oak Mortgage
Phone: (817) 410-2518
Fax: (817) 410-2519
lwarren@somlp.com
www.silveroakmortgagelp.co
Saturday, November 22, 2008
DATES TO REMEMBER
Holiday Happenings in the area.....
Nov. 14 - Jan. 3 - ICE! and Lone Star Christmas (Grapevine)
Nov. 22 - Jan. 4 - The Trains at North Park (Dallas)
Nov. 28 - Jan. 4 - Holiday in the Park (Six Flags in Arlington)
Saturday, Nov. 22 - 3:00 to 9:00 pm
Home For the Holidays (Southlake Town Square)
Tree lighting at 6:30 pm
Saturday, Nov. 22 - 24 - www.SouthlakeFestivalofTrees.com
Friday, Nov. 28 - FW Sundance Square
2:00 to 5:30 pm - Holiday Fun Zone
6:00 to 8:00 pm - Parade of Lights and Tree Lighting
Nov. 29 - Dec. 21 - Snowflakes, Sugarplums, and SANTA! (Fort Worth)
Saturday, Nov. 29 - 6:00 to 8:00 pm
Hurst Annual Tree Lighting Spectacular
Monday, Dec. 1 - 7:00 pm
Historic downtown Grapevine Carol of Lights
Thursday, Dec. 4 - 7:00 pm
Historic downtown Grapevine Parade of Lights
Friday, Dec. 5 - 6:00 to 9:30 pm
Holly Days at Keller Town Center
Saturday, Dec. 6 - 10:00 am
Neiman Marcus Adolphus Children’s Parade Dallas
Saturday, Dec. 6 - 4:00 to 8:00 pm
NRH Night of Holiday Magic at NRH20 Family Waterpark
Saturday, Dec. 6 - dusk
Twinkle Light Parade on Grapevine Lake
Happy Holidays!!!
Nov. 14 - Jan. 3 - ICE! and Lone Star Christmas (Grapevine)
Nov. 22 - Jan. 4 - The Trains at North Park (Dallas)
Nov. 28 - Jan. 4 - Holiday in the Park (Six Flags in Arlington)
Saturday, Nov. 22 - 3:00 to 9:00 pm
Home For the Holidays (Southlake Town Square)
Tree lighting at 6:30 pm
Saturday, Nov. 22 - 24 - www.SouthlakeFestivalofTrees.com
Friday, Nov. 28 - FW Sundance Square
2:00 to 5:30 pm - Holiday Fun Zone
6:00 to 8:00 pm - Parade of Lights and Tree Lighting
Nov. 29 - Dec. 21 - Snowflakes, Sugarplums, and SANTA! (Fort Worth)
Saturday, Nov. 29 - 6:00 to 8:00 pm
Hurst Annual Tree Lighting Spectacular
Monday, Dec. 1 - 7:00 pm
Historic downtown Grapevine Carol of Lights
Thursday, Dec. 4 - 7:00 pm
Historic downtown Grapevine Parade of Lights
Friday, Dec. 5 - 6:00 to 9:30 pm
Holly Days at Keller Town Center
Saturday, Dec. 6 - 10:00 am
Neiman Marcus Adolphus Children’s Parade Dallas
Saturday, Dec. 6 - 4:00 to 8:00 pm
NRH Night of Holiday Magic at NRH20 Family Waterpark
Saturday, Dec. 6 - dusk
Twinkle Light Parade on Grapevine Lake
Happy Holidays!!!
Friday, November 14, 2008
Foreclosure Prevention
The two secondary-mortgage-market companies are well aware of the market pain and are taking a number of steps to provide relief, particularly to prevent foreclosures.
Among other things, Freddie Mac is allowing lenders to modify their at-risk loans into 40-year, lower interest-rate mortgages and to reduce borrowers' burdens by permitting them to roll up to six months of missed payments into what amounts to an unsecured second loan. The two companies are also ramping up their staff and adjusting compensation so their internal structure better matches the size and complexity of the processing demand they face.
What’s more, to help facilitate short sales, Lockhart’s agency will be releasing a large-scale, streamlined, standardized process for expediting short sales, which he said will give lenders flexibility and tools like principal forbearance that they can’t easily use right now.
But Lockhart made it clear that the bulk of the problem isn’t with Fannie and Freddie loans, but debt in what the financial services industry calls private-label securities, the Wall Street loans, many of them subprime, that are held by investors all over the world.
The streamlined short sale process his agency will be announcing soon—he didn’t give a time line—could go a long way to focusing the minds of lenders on the problem. But ultimately the problem won’t go way until interest rates come down, buyers start streaming back into the market again, and prices firm up, he suggested.
—Robert Freedman
Realtor Magazine
The two secondary-mortgage-market companies are well aware of the market pain and are taking a number of steps to provide relief, particularly to prevent foreclosures.
Among other things, Freddie Mac is allowing lenders to modify their at-risk loans into 40-year, lower interest-rate mortgages and to reduce borrowers' burdens by permitting them to roll up to six months of missed payments into what amounts to an unsecured second loan. The two companies are also ramping up their staff and adjusting compensation so their internal structure better matches the size and complexity of the processing demand they face.
What’s more, to help facilitate short sales, Lockhart’s agency will be releasing a large-scale, streamlined, standardized process for expediting short sales, which he said will give lenders flexibility and tools like principal forbearance that they can’t easily use right now.
But Lockhart made it clear that the bulk of the problem isn’t with Fannie and Freddie loans, but debt in what the financial services industry calls private-label securities, the Wall Street loans, many of them subprime, that are held by investors all over the world.
The streamlined short sale process his agency will be announcing soon—he didn’t give a time line—could go a long way to focusing the minds of lenders on the problem. But ultimately the problem won’t go way until interest rates come down, buyers start streaming back into the market again, and prices firm up, he suggested.
—Robert Freedman
Realtor Magazine
Tuesday, October 28, 2008
Mortgage Loans
URGENT!! Dont let the media spook you!! You do not have to have 20% down to obtain a home loan, we are financing people with a minimum of 3% down and even 0% down on special programs and areas. Right now is the perfect time to buy a home, it is the largest investment you and your family will make. if you do not own a home or are interested in moving to a new one please call us. We can find a program that will best suit your needs.
by:
Silver Oak Mortgage
Lisa Warren
Branch Manager
751 E Southlake Blvd Ste 100
Southlake, TX 76092
office 817-410-2518
fax 817-410-2519
by:
Silver Oak Mortgage
Lisa Warren
Branch Manager
751 E Southlake Blvd Ste 100
Southlake, TX 76092
office 817-410-2518
fax 817-410-2519
Tuesday, October 7, 2008
Protecting Your Home & Finances in Perilous Times
RISMEDIA, Oct. 2, 2008-With the nation possibly facing the most worst financial crisis since the Great Depression, and as many as 6 million homeowners at risk of foreclosure, we all need to review our finances and make sure we are well positioned for the future. Home values, the stock market, and the economy will eventually recover, so the main goal is to make sure we protect our finances as best as possible in the meantime.
The appropriate action is related to your liquidity. If you have enough cash and liquid assets to cover one year’s worth of living expenses, you’re in pretty good shape for the near term. Liquid assets include things that are often overlooked, such as IRAs, 401Ks, cash surrender or withdrawal value for life insurance and/or annuity funds that are immediately accessible, so you may be in better shape than you think. There may be penalties associated with some of those withdrawals, so tap them only as a last resort.
While regularly reviewing your financial status is a good idea for everyone, there may be no need to modify a thoughtful and balanced long term financial plan if you have sufficient liquidity. Homeowners with minimal liquid reserves need to take action soon to strengthen their ability to access cash if they need it in increasingly uncertain times. Uncertain economic times can threaten even the safest jobs, and jobs take longer to find during a recession. For homeowners with less than a year’s liquid reserves, a top priority should be to protect their limited liquid assets, look for ways to expand liquid assets, and look for ways to improve your ability to get additional cash in the future if you need it.
Here are four important steps smart homeowners should take to protect their financial security:
1. Review your home financing structure and take action if necessary. If you have a 30 year fixed rate loan at current mortgage interest rates or less, no action may be necessary if your have enough cash and liquid assets to cover one year’s worth of living expenses. If not, refinancing your mortgage to reduce payments or prevent future payment increases may be a good idea if you have equity in your home.
If you have sufficient equity and your credit score is sufficient, you may be able to take out cash in the process, which is a particularly good idea if you have little savings and/or you can significantly lower your mortgage interest rate through refinancing. If liquidity is a challenge and you are eligible for a home equity line of credit, apply now so it will be in place in case of a crisis.
Things are trickier for homeowners with mortgages that are “underwater” (the mortgage balance exceeds the home’s current market value). Most lenders won’t forgive the difference unless you’re behind on payments and are out of money, and even then they are far more inclined to a restructuring that would temporarily reduce payments to an affordable amount while maintaining the mortgage balance.
A new “Hope for Homeowners” FHA program going into effect October 1, may enable some homeowners to get part of the mortgage debt forgiven and refinance with a 30-year fixed rate mortgage. Yet other alternatives may emerge out of the current Wall Street rescue effort over the next few months. In most cases a foreclosure should be avoided if possible.
In some cases it is unavoidable and in others may actually be in the homeowner’s best interest. Some financially-pressed homeowners whose mortgage balance far exceeds their home’s value have recognized that it will probably take many years for the home’s market value to catch up with their mortgage balance. In the meantime they are also trapped in their present home and unable to sell and take advantage of better job opportunities in other areas.
By the time home values do catch up, many could have restored the damage done to their credit rating by a foreclosure, and they would have advanced in their career as well.
2. Review the allocation of your other investments. Experts recommend diversification in good times and bad. If you do not have enough liquid assets to cover at least one year’s worth of living expenses, rebalance your investments to minimize the risk of further erosion of their value. Sell individual stocks and mutual funds and buy conservative investments like AAA bonds and federally insured savings accounts and federal, state and local bonds. They will hold their values in declining stock markets. While conservative investments will also trail other investments in appreciation when the market recovers, it’s better for homeowners with liquidity to be safe and miss out on some opportunity for investment growth until the market recovers.
Conversely homeowners who are in good shape financially probably needn’t restructure a well balanced investment portfolio. When recovery begins, appreciation of securities will outstrip growth of more conservative investments. Timing such market changes is notoriously difficult, and homeowners with balanced investment portfolios are usually better advised to stay in the market and benefit from all of that recovery.
3. Make sure your investments, insurance policies, IRAs, and/or annuities are adequately insured. Bank deposits are covered by the Federal Deposit Insurance Corporation (FDIC), which guarantees bank account balances of up to $100,000 in a single bank ($200,000 for joint accounts). If you have accounts in more than one bank, each account is covered by those limits. FDIC protects IRAs kept in bank accounts up to $250,000. Make sure that any other investments through stockbrokers or other financial service firms are insured by the Securities Investor Protection Corporation (SIPC). SIPC protects the assets in your investment account from losses due to a financial services firm’s bankruptcy, but it does not protect you from losses due to stock market declines. SIPC covers up $500,000 per customer, including up to $100,000 for money market funds.
With the failure of giant insurer AIG, many homeowners are concerned about the status of their life insurance and/or annuities. Life insurance policies are insured by each state’s guaranty association. Typical coverage is $100,000 in cash surrender or withdrawal value for life insurance and $100,000 in withdrawal and cash values for annuities.
4. If you need to improve your liquidity reduce unnecessary personal expenses, and stop making any extra payments on your mortgage. To build your savings, cut back on expensive vacations and non-essential activities like hobbies and expensive restaurants. Look for other ways to save money as well (never a bad idea even if your finances are strong).
The American Homeowners Foundation (AHF) is an independent nonprofit consumer organization serving the nation’s 75 million homeowners since 1984. AHF is dedicated to helping them make the wisest and most well informed decisions regarding what for most Americans is their single greatest financial investment. For more information, go to www.AmericanHomeowners.org.
Courtesy of the American Homeowners Foundation and the American Homeowners Grassroots Alliance, www.AmericanHomeowners.org.
For more information, visit www.AmericanHomeowners.org.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com
The appropriate action is related to your liquidity. If you have enough cash and liquid assets to cover one year’s worth of living expenses, you’re in pretty good shape for the near term. Liquid assets include things that are often overlooked, such as IRAs, 401Ks, cash surrender or withdrawal value for life insurance and/or annuity funds that are immediately accessible, so you may be in better shape than you think. There may be penalties associated with some of those withdrawals, so tap them only as a last resort.
While regularly reviewing your financial status is a good idea for everyone, there may be no need to modify a thoughtful and balanced long term financial plan if you have sufficient liquidity. Homeowners with minimal liquid reserves need to take action soon to strengthen their ability to access cash if they need it in increasingly uncertain times. Uncertain economic times can threaten even the safest jobs, and jobs take longer to find during a recession. For homeowners with less than a year’s liquid reserves, a top priority should be to protect their limited liquid assets, look for ways to expand liquid assets, and look for ways to improve your ability to get additional cash in the future if you need it.
Here are four important steps smart homeowners should take to protect their financial security:
1. Review your home financing structure and take action if necessary. If you have a 30 year fixed rate loan at current mortgage interest rates or less, no action may be necessary if your have enough cash and liquid assets to cover one year’s worth of living expenses. If not, refinancing your mortgage to reduce payments or prevent future payment increases may be a good idea if you have equity in your home.
If you have sufficient equity and your credit score is sufficient, you may be able to take out cash in the process, which is a particularly good idea if you have little savings and/or you can significantly lower your mortgage interest rate through refinancing. If liquidity is a challenge and you are eligible for a home equity line of credit, apply now so it will be in place in case of a crisis.
Things are trickier for homeowners with mortgages that are “underwater” (the mortgage balance exceeds the home’s current market value). Most lenders won’t forgive the difference unless you’re behind on payments and are out of money, and even then they are far more inclined to a restructuring that would temporarily reduce payments to an affordable amount while maintaining the mortgage balance.
A new “Hope for Homeowners” FHA program going into effect October 1, may enable some homeowners to get part of the mortgage debt forgiven and refinance with a 30-year fixed rate mortgage. Yet other alternatives may emerge out of the current Wall Street rescue effort over the next few months. In most cases a foreclosure should be avoided if possible.
In some cases it is unavoidable and in others may actually be in the homeowner’s best interest. Some financially-pressed homeowners whose mortgage balance far exceeds their home’s value have recognized that it will probably take many years for the home’s market value to catch up with their mortgage balance. In the meantime they are also trapped in their present home and unable to sell and take advantage of better job opportunities in other areas.
By the time home values do catch up, many could have restored the damage done to their credit rating by a foreclosure, and they would have advanced in their career as well.
2. Review the allocation of your other investments. Experts recommend diversification in good times and bad. If you do not have enough liquid assets to cover at least one year’s worth of living expenses, rebalance your investments to minimize the risk of further erosion of their value. Sell individual stocks and mutual funds and buy conservative investments like AAA bonds and federally insured savings accounts and federal, state and local bonds. They will hold their values in declining stock markets. While conservative investments will also trail other investments in appreciation when the market recovers, it’s better for homeowners with liquidity to be safe and miss out on some opportunity for investment growth until the market recovers.
Conversely homeowners who are in good shape financially probably needn’t restructure a well balanced investment portfolio. When recovery begins, appreciation of securities will outstrip growth of more conservative investments. Timing such market changes is notoriously difficult, and homeowners with balanced investment portfolios are usually better advised to stay in the market and benefit from all of that recovery.
3. Make sure your investments, insurance policies, IRAs, and/or annuities are adequately insured. Bank deposits are covered by the Federal Deposit Insurance Corporation (FDIC), which guarantees bank account balances of up to $100,000 in a single bank ($200,000 for joint accounts). If you have accounts in more than one bank, each account is covered by those limits. FDIC protects IRAs kept in bank accounts up to $250,000. Make sure that any other investments through stockbrokers or other financial service firms are insured by the Securities Investor Protection Corporation (SIPC). SIPC protects the assets in your investment account from losses due to a financial services firm’s bankruptcy, but it does not protect you from losses due to stock market declines. SIPC covers up $500,000 per customer, including up to $100,000 for money market funds.
With the failure of giant insurer AIG, many homeowners are concerned about the status of their life insurance and/or annuities. Life insurance policies are insured by each state’s guaranty association. Typical coverage is $100,000 in cash surrender or withdrawal value for life insurance and $100,000 in withdrawal and cash values for annuities.
4. If you need to improve your liquidity reduce unnecessary personal expenses, and stop making any extra payments on your mortgage. To build your savings, cut back on expensive vacations and non-essential activities like hobbies and expensive restaurants. Look for other ways to save money as well (never a bad idea even if your finances are strong).
The American Homeowners Foundation (AHF) is an independent nonprofit consumer organization serving the nation’s 75 million homeowners since 1984. AHF is dedicated to helping them make the wisest and most well informed decisions regarding what for most Americans is their single greatest financial investment. For more information, go to www.AmericanHomeowners.org.
Courtesy of the American Homeowners Foundation and the American Homeowners Grassroots Alliance, www.AmericanHomeowners.org.
For more information, visit www.AmericanHomeowners.org.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com
Thursday, October 2, 2008
Real Estate Update
Rates Tick Up
In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage (FRM) averaged 6.09% for the week ending September 25, 2008, up from the previous week when it averaged 5.78%. Last year at this time, the 30-year FRM averaged 6.42%.
"Mortgage rates followed Treasury bond yields higher this week amid market uncertainty over the current state of the economy," said Frank Nothaft, Freddie Mac vice president and chief economist.
Mortgage Rates
Source: Realty Times
U.S. averages as of September 25, 2008:
30 yr. fixed: 6.09%
15 yr. fixed: 5.77%
1 yr. adj: 5.16%
And while up, interest rates for 30-year FRMs are still more than 0.5 percentage points below this year's peak of 6.63 percent set the week of July 24th.
Where Are Lenders Getting Credit Scores?
Consumers often mistakenly believe that mortgage lenders use only credit scores from Equifax, Experian, TransUnion, and Fair Isaac's myfico.com to gauge creditworthiness. However, Consumer Reports recently found that lenders also use NextGen FICO scores, FICO Expansion Scores, and Industry Option FICO scores — which take car loans into consideration — as well as custom formulas. Given that these scoring models are not available to consumers, experts say that consumers should not rely solely on available credit scores to determine their likelihood of getting a loan. They would be wise to make timely bill payments, make more than the minimum payment, and hold down credit card balances.
Buyers Crave Green More Than Extra Space
Buyers of custom homes are increasingly interested in money-saving features like extra insulation and energy-efficient furnaces, rather than game rooms and space for in-laws, according to a Home Design Trend Survey by the American Institute of Architects. Sixty-eight percent of the survey's respondents said customers were requesting extra insulation in the attic compared with 56% a year ago. Two-thirds of respondents said green products such as tankless water heaters, double or triple-glazed windows, and sustainable flooring products such as bamboo or cork were gaining in popularity.
Only 8% of the survey's respondents said game rooms were increasingly popular among their customers, down from 23% last year.
Eight Ways To Help a Home Sell Faster
Simple fixes and staging practices can focus buyers' attention in the right places and keep them from getting sidetracked by personal items in the home.
Here are some staging suggestions from Deborah Ehrlich-Layne of Staging Plus in Tampa, Fla., Handyman Matters, and HGTV's The Stagers.
Eliminate countertop clutter. A countertop covered with small appliances and utensils looks crowded, not spacious.
Pack up the too-personal. Don't leave toiletries on the counter. Stash family photos.
Be prepared for snoops. Prospective buyers pull open drawers, look in closets and peek behind the shower curtain.
Make sure things work. Dripping faucets, burned-out light bulbs, and squeaking hinges detract from the home's appeal.
Think "white-glove clean." Mop, dust, vacuum, clean baseboards, wash windows. Make sure the house looks fresh and smells neutral.
Make sure the front door is clean and the hardware polished. Power-wash walkways.
Store furniture that makes rooms feel crowded.
Show every room for the kind of room it is. Maybe you've turned your formal dining room into a home office. Get rid of the desk and computer, and bring back the dining table and chairs.
Copyright 2008 Realty Times
All Rights Reserved
In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage (FRM) averaged 6.09% for the week ending September 25, 2008, up from the previous week when it averaged 5.78%. Last year at this time, the 30-year FRM averaged 6.42%.
"Mortgage rates followed Treasury bond yields higher this week amid market uncertainty over the current state of the economy," said Frank Nothaft, Freddie Mac vice president and chief economist.
Mortgage Rates
Source: Realty Times
U.S. averages as of September 25, 2008:
30 yr. fixed: 6.09%
15 yr. fixed: 5.77%
1 yr. adj: 5.16%
And while up, interest rates for 30-year FRMs are still more than 0.5 percentage points below this year's peak of 6.63 percent set the week of July 24th.
Where Are Lenders Getting Credit Scores?
Consumers often mistakenly believe that mortgage lenders use only credit scores from Equifax, Experian, TransUnion, and Fair Isaac's myfico.com to gauge creditworthiness. However, Consumer Reports recently found that lenders also use NextGen FICO scores, FICO Expansion Scores, and Industry Option FICO scores — which take car loans into consideration — as well as custom formulas. Given that these scoring models are not available to consumers, experts say that consumers should not rely solely on available credit scores to determine their likelihood of getting a loan. They would be wise to make timely bill payments, make more than the minimum payment, and hold down credit card balances.
Buyers Crave Green More Than Extra Space
Buyers of custom homes are increasingly interested in money-saving features like extra insulation and energy-efficient furnaces, rather than game rooms and space for in-laws, according to a Home Design Trend Survey by the American Institute of Architects. Sixty-eight percent of the survey's respondents said customers were requesting extra insulation in the attic compared with 56% a year ago. Two-thirds of respondents said green products such as tankless water heaters, double or triple-glazed windows, and sustainable flooring products such as bamboo or cork were gaining in popularity.
Only 8% of the survey's respondents said game rooms were increasingly popular among their customers, down from 23% last year.
Eight Ways To Help a Home Sell Faster
Simple fixes and staging practices can focus buyers' attention in the right places and keep them from getting sidetracked by personal items in the home.
Here are some staging suggestions from Deborah Ehrlich-Layne of Staging Plus in Tampa, Fla., Handyman Matters, and HGTV's The Stagers.
Eliminate countertop clutter. A countertop covered with small appliances and utensils looks crowded, not spacious.
Pack up the too-personal. Don't leave toiletries on the counter. Stash family photos.
Be prepared for snoops. Prospective buyers pull open drawers, look in closets and peek behind the shower curtain.
Make sure things work. Dripping faucets, burned-out light bulbs, and squeaking hinges detract from the home's appeal.
Think "white-glove clean." Mop, dust, vacuum, clean baseboards, wash windows. Make sure the house looks fresh and smells neutral.
Make sure the front door is clean and the hardware polished. Power-wash walkways.
Store furniture that makes rooms feel crowded.
Show every room for the kind of room it is. Maybe you've turned your formal dining room into a home office. Get rid of the desk and computer, and bring back the dining table and chairs.
Copyright 2008 Realty Times
All Rights Reserved
Wednesday, October 1, 2008
What's At Stake?
Pass the Emergency Economic Stability Act
A SUMMARY OF THE PROPOSED ECONOMIC STABILIZATION ACT
Click here:
http://takeaction.realtoractioncenter.com/campaign/eesa/explanation
A SUMMARY OF THE PROPOSED ECONOMIC STABILIZATION ACT
Click here:
http://takeaction.realtoractioncenter.com/campaign/eesa/explanation
Varsity Football Schedule for 2008
DATE TEAM SITE TIME
Aug. 22 (scrim) Arlington Martin Arlington Martin 7:00
Aug. 29 Longview Eagle Stadium 7:30
Sept. 4 (Thurs.) Monterrey Tech (Mexico) Eagle Stadium 7:30
Sept. 12 Rockwall Rockwall 7:30
Sept. 19 Euless Trinity Eagle Stadium 7:30
Sept. 26 Plano West Kimbrough Stadium 7:30
Oct. 3 OPEN
Oct. 10 McKinney Boyd (Homecoming) Eagle Stadium 7:30
Oct. 17 Plano Clark Stadium 7:30
Oct. 24 Jesuit Eagle Stadium 7:30
Oct. 31 Plano East Kimbrough Stadium 7:30
Nov. 7 Wylie (Senior Night) Eagle Stadium 7:30
Junior Varsity I & II Football Schedule for 2008
DATE TEAM SITE TIME JV2/JV1
Aug 22 (scrim) Arlington Martin Arlington Martin 6:00
Aug 30 Duncanville Eagle Stadium 8:30 / 10:30 am
Sept. 6 (Sat ) Cedar Hill Cedar Hill 9:00 / 11:00 am
Sept. 11 Rockwall Eagle Stadium 5:30 / 7:00
Sept. 18 Trinity Pennington Field 5:30 / 7:00
Sept. 25 Plano West Eagle Stadium 5:30 / 7:00
Oct. 3 OPEN
Oct. 9 McKinney Boyd Boyd High School 5:30 / 7:00
Oct. 16 Plano Eagle Stadium 5:30 / 7:00
Oct. 23 Jesuit Jesuit 5:30 / 7:00
Oct. 30 Plano East Eagle Stadium 5:30 / 7:00
Nov. 6 Wylie Wylie 5:30 / 7:00
http://www.allenisd.org/Web/New%20Athletics/FootballHome.html
Aug. 22 (scrim) Arlington Martin Arlington Martin 7:00
Aug. 29 Longview Eagle Stadium 7:30
Sept. 4 (Thurs.) Monterrey Tech (Mexico) Eagle Stadium 7:30
Sept. 12 Rockwall Rockwall 7:30
Sept. 19 Euless Trinity Eagle Stadium 7:30
Sept. 26 Plano West Kimbrough Stadium 7:30
Oct. 3 OPEN
Oct. 10 McKinney Boyd (Homecoming) Eagle Stadium 7:30
Oct. 17 Plano Clark Stadium 7:30
Oct. 24 Jesuit Eagle Stadium 7:30
Oct. 31 Plano East Kimbrough Stadium 7:30
Nov. 7 Wylie (Senior Night) Eagle Stadium 7:30
Junior Varsity I & II Football Schedule for 2008
DATE TEAM SITE TIME JV2/JV1
Aug 22 (scrim) Arlington Martin Arlington Martin 6:00
Aug 30 Duncanville Eagle Stadium 8:30 / 10:30 am
Sept. 6 (Sat ) Cedar Hill Cedar Hill 9:00 / 11:00 am
Sept. 11 Rockwall Eagle Stadium 5:30 / 7:00
Sept. 18 Trinity Pennington Field 5:30 / 7:00
Sept. 25 Plano West Eagle Stadium 5:30 / 7:00
Oct. 3 OPEN
Oct. 9 McKinney Boyd Boyd High School 5:30 / 7:00
Oct. 16 Plano Eagle Stadium 5:30 / 7:00
Oct. 23 Jesuit Jesuit 5:30 / 7:00
Oct. 30 Plano East Eagle Stadium 5:30 / 7:00
Nov. 6 Wylie Wylie 5:30 / 7:00
http://www.allenisd.org/Web/New%20Athletics/FootballHome.html
Monday, September 22, 2008
MLS Activity Report
Northeast Tarrant County & Surrounding Areas
Single Family Residences * August 2008 YTD
# of
Sales
% Change
vs. Prior
Year
Average Sale
Price
% Change
vs. Prior
Year
Average
Days on
Market
% Change
vs. Prior
Year
Bedford 399 -1% $168,426 2% 63 31%
Colleyville 286 -19% $515,277 -3% 75 29%
Euless 293 -20% $160,198 3% 56 0%
FW-Haltom City 243 -24% $76,136 -14% 69 0%
FW-Northwest 863 -2% $160,677 0% 89 7%
FW - Saginaw/North 995 -19% $143,555 -1% 77 -22%
Park Glen/Heritage 1402 -11% $160,808 1% 76 7%
Grapevine 375 -9% $249,902 4% 49 17%
Hurst 378 -15% $152,217 -2% 90 55%
Keller 568 -14% $332,999 3% 79 25%
North Richland Hills 552 -14% $168,662 -1% 68 8%
Roanoke 115 -21% $167,649 6% 82 32%
Southlake 380 -18% $630,911 3% 71 1%
Trophy Club/Westlake 120 -12% $479,766 5% 84 31%
Watauga 224 -29% $102,287 -2% 67 5%
Continued on reverse side
Southlake Office
601 East Southlake Blvd * Southlake * 817-481-7710 Metro Office * 817-481-7699 Metro Fax
Colleyville/Hurst
102 Grapevine Hwy * Hurst * 817-498-2228 Metro Office * 817-498-6059 Metro Fax
Christian Burton
Business Development
Lori McDaniel
Area Manager
Mike Wallace
Escrow Officer
Stephanie Brownlee
Escrow Officer
Martha Mayes
Escrow Officer
Joni Garrick
Escrow Officer
Angela Waldrop
Escrow Officer
Laura Mango
Escrow Officer
# of
Sales
% Change
vs. Prior
Year
Average Sale
Price
% Change
vs. Prior
Year
Average
Days on
Market
% Change
vs. Prior
Year
Arlington (082) 201 -22% $214,856 5% 87 30%
Arlington (083) 220 -23% $151,043 8% 85 23%
Arlington (084) 193 -8% $63,753 -12% 78 7%
Arlington (085) 355 -18% $165,760 -4% 78 22%
Arlington (086) 182 -31% $82,942 -7% 64 -11%
Arlington (087) 456 -23% $172,062 5% 75 6%
Arlington (088) 881 -25% $122,053 -3% 70 4%
Arl./Mansfield (089) 707 -15% $192,368 -1% 77 3%
Arl./Kennedale (090) 37 -26% $192,267 4% 83 -11%
Dallas E 1524 -18% $257,222 1% 76 25%
Fairview/Lucas 198 -12% $357,503 3% 87 9%
Far North Dallas 671 -29% $339,750 -1% 73 35%
Frisco 2014 -8% $299,169 2% 89 22%
Garland 1319 -21% $118,335 -8% 74 4%
Irving 924 -11% $191,624 -1% 78 15%
McKinney 1449 -23% $224,332 -2% 80 11%
North Dallas 380 -28% $969,105 4% 98 44%
Northeast Dallas 436 -20% $247,075 -1% 57 14%
Northwest Dallas 344 -34% $236,605 5% 76 31%
Park Cities 502 -16% $1,194,084 -2% 93 41%
Plano 2568 -15% $274,947 0% 67 31%
Richardson 738 -21% $171,832 -4% 64 21%
Uptown (condos) 618 -33% $315,432 12% 107 9%
Allen 923 -17% $247,737 6% 81 23%
Anna 151 -18% $128,403 -2% 92 2%
Denton County S 2648 -20% $241,672 -4% 69 25%
Denton County N 1879 -13% $150,277 -6% 77 3%
Coppell 417 -18% $316,939 8% 55 20%
Carrollton/F.Branch 1223 -10% $192,732 7% 62 19%
MLS Activity Report
Southlake Office
601 East Southlake Blvd * Southlake * 817-481-7710 Metro Office * 817-481-7699 Metro Fax
Colleyville/Hurst
102 Grapevine Hwy * Hurst * 817-498-2228 Metro Office * 817-498-6059 Metro Fax
Northeast Tarrant County & Surrounding Areas
Single Family Residences * August 2008 YTD
# of
Sales
% Change
vs. Prior
Year
Average Sale
Price
% Change
vs. Prior
Year
Average
Days on
Market
% Change
vs. Prior
Year
Bedford 399 -1% $168,426 2% 63 31%
Colleyville 286 -19% $515,277 -3% 75 29%
Euless 293 -20% $160,198 3% 56 0%
FW-Haltom City 243 -24% $76,136 -14% 69 0%
FW-Northwest 863 -2% $160,677 0% 89 7%
FW - Saginaw/North 995 -19% $143,555 -1% 77 -22%
Park Glen/Heritage 1402 -11% $160,808 1% 76 7%
Grapevine 375 -9% $249,902 4% 49 17%
Hurst 378 -15% $152,217 -2% 90 55%
Keller 568 -14% $332,999 3% 79 25%
North Richland Hills 552 -14% $168,662 -1% 68 8%
Roanoke 115 -21% $167,649 6% 82 32%
Southlake 380 -18% $630,911 3% 71 1%
Trophy Club/Westlake 120 -12% $479,766 5% 84 31%
Watauga 224 -29% $102,287 -2% 67 5%
Continued on reverse side
Southlake Office
601 East Southlake Blvd * Southlake * 817-481-7710 Metro Office * 817-481-7699 Metro Fax
Colleyville/Hurst
102 Grapevine Hwy * Hurst * 817-498-2228 Metro Office * 817-498-6059 Metro Fax
Christian Burton
Business Development
Lori McDaniel
Area Manager
Mike Wallace
Escrow Officer
Stephanie Brownlee
Escrow Officer
Martha Mayes
Escrow Officer
Joni Garrick
Escrow Officer
Angela Waldrop
Escrow Officer
Laura Mango
Escrow Officer
# of
Sales
% Change
vs. Prior
Year
Average Sale
Price
% Change
vs. Prior
Year
Average
Days on
Market
% Change
vs. Prior
Year
Arlington (082) 201 -22% $214,856 5% 87 30%
Arlington (083) 220 -23% $151,043 8% 85 23%
Arlington (084) 193 -8% $63,753 -12% 78 7%
Arlington (085) 355 -18% $165,760 -4% 78 22%
Arlington (086) 182 -31% $82,942 -7% 64 -11%
Arlington (087) 456 -23% $172,062 5% 75 6%
Arlington (088) 881 -25% $122,053 -3% 70 4%
Arl./Mansfield (089) 707 -15% $192,368 -1% 77 3%
Arl./Kennedale (090) 37 -26% $192,267 4% 83 -11%
Dallas E 1524 -18% $257,222 1% 76 25%
Fairview/Lucas 198 -12% $357,503 3% 87 9%
Far North Dallas 671 -29% $339,750 -1% 73 35%
Frisco 2014 -8% $299,169 2% 89 22%
Garland 1319 -21% $118,335 -8% 74 4%
Irving 924 -11% $191,624 -1% 78 15%
McKinney 1449 -23% $224,332 -2% 80 11%
North Dallas 380 -28% $969,105 4% 98 44%
Northeast Dallas 436 -20% $247,075 -1% 57 14%
Northwest Dallas 344 -34% $236,605 5% 76 31%
Park Cities 502 -16% $1,194,084 -2% 93 41%
Plano 2568 -15% $274,947 0% 67 31%
Richardson 738 -21% $171,832 -4% 64 21%
Uptown (condos) 618 -33% $315,432 12% 107 9%
Allen 923 -17% $247,737 6% 81 23%
Anna 151 -18% $128,403 -2% 92 2%
Denton County S 2648 -20% $241,672 -4% 69 25%
Denton County N 1879 -13% $150,277 -6% 77 3%
Coppell 417 -18% $316,939 8% 55 20%
Carrollton/F.Branch 1223 -10% $192,732 7% 62 19%
MLS Activity Report
Southlake Office
601 East Southlake Blvd * Southlake * 817-481-7710 Metro Office * 817-481-7699 Metro Fax
Colleyville/Hurst
102 Grapevine Hwy * Hurst * 817-498-2228 Metro Office * 817-498-6059 Metro Fax
Thursday, September 18, 2008
According to CNN MONEY.COM
Best Places to Live
Money's list of America's best small cities 2008 2007 2006 2005
Full List
Near You
Housing
Financial
Quality of Life
Top 100All cities StatesCitiesBig cities Affordable homesPricey homes High incomesJob growthGas crunch Fast commutesHottestMost singlesYoungestSkinniestClean air
20 of 100 20. Allen, TX
Allen Civic PlazaWINNER
Top 100 rank: 20
Population: 73,200
Compare Allen to Top 10 Best Places
On a typical Friday night in the fall, residents will gather at the high school football stadium to cheer on the Allen Eagles. But this one-high school suburb of Dallas is booming with new development.
Montgomery Farm, an environmentally conscious mixed-use development, has maintained lush greenways while adding upscale dining and shopping.
And while taxes may be a little higher compared to neighboring suburbs, real estate prices will get you more house for your dollar. With a top-performing school district, Allen is ideal for families who want to grow with their community.
For the full article go to:
http://money.cnn.com/magazines/moneymag/bplive/2008/snapshots/PL4801924.html
Money's list of America's best small cities 2008 2007 2006 2005
Full List
Near You
Housing
Financial
Quality of Life
Top 100All cities StatesCitiesBig cities Affordable homesPricey homes High incomesJob growthGas crunch Fast commutesHottestMost singlesYoungestSkinniestClean air
20 of 100 20. Allen, TX
Allen Civic PlazaWINNER
Top 100 rank: 20
Population: 73,200
Compare Allen to Top 10 Best Places
On a typical Friday night in the fall, residents will gather at the high school football stadium to cheer on the Allen Eagles. But this one-high school suburb of Dallas is booming with new development.
Montgomery Farm, an environmentally conscious mixed-use development, has maintained lush greenways while adding upscale dining and shopping.
And while taxes may be a little higher compared to neighboring suburbs, real estate prices will get you more house for your dollar. With a top-performing school district, Allen is ideal for families who want to grow with their community.
For the full article go to:
http://money.cnn.com/magazines/moneymag/bplive/2008/snapshots/PL4801924.html
Subscribe to:
Posts (Atom)
