Buyers/Sellers: Info You Need To Know About Closings

There is a new rule starting in 2009 and going forward that requires at least a 7-day delay before closing on a house/property. This new Truth in Lending Act requirement, known as Regulation Z, became effective July 30, 2009 and states that consumers are now required to receive a seven business day delay as a cooling off period before they close on any transactions. This will deter mortgage lenders and banks from closing a home loan within a few days or even hours as they occasionally use to do. Also note that it is still required that a consumer receive their Good Faith Estimate and Truth in Lending Disclosure within 3 business days of a completed application; this remains in effect. What is new is the three-day requirement when there are changes to the initial Truth in Lending. (According to an article by Steven Kaufman in Houston Realtor magazine)

So speak to your mortgage broker/realtor about these changes and see how they will affect your transactions.

Fonda here…keeping you informed!!!

How to protect your home from ICE AND COLD!

Well the HOT topic this weekend was COLD tempatures and bursting pipes! SO what should you do to protect your home from the occasional ice and freezing temps that we have in Houston?
Here are some tips By Leland Edward Stone with Move, Inc (on Realtor.com):

One…
Sprinkler systems should incorporate drain valves in areas subject to freezing. Shut down the main sprinkler control valve (on automatic systems, turn the timer off, too) and open the system drain valve. Sprinkler systems without drains should be blown free of water using compressed air, a job best left to a pro.

Two…
The main water supply line feeding the house is probably safely buried below the frost line. Any part thats exposed to freezing temperatures (such as pipes in unheated crawlspaces or basements) should be covered with insulation.

Three…
Pools and spas are expensive capital improvements deserving special care; at the very least, drain water to below the tile line and top the pool with an insulated cover to guard against freeze damage. Filters and similar equipment idled for the winter should also be completely drained and covered.

These are just a few tips to implement as soon as you see a freeze forecasted on the weather channel!
Stay WARM!!!!

Houston Has One of The Lowest Increases in Cost of Living

According to Realtor.com (http://neighborhoods.realtor.com/), Houston has a 4% cost of living increase right now. When you look at the East and West coasts where they average 21% and 28%, respectively, we are doing a really great job here! The stats, as of today, were:

Houston
Homes for Sale: 24,587
Average Home Price: $150,000
Rental Listings: 5,935
Average Rental Price: $1,200
Cost of Living: +4%
Population: 3,577,290

So when you think we have it rough, just remember the silver lining! Houston has stayed fairly stable and is steadfast.
It is a decent economy here and we just have to focus on the positive going forward.

HAPPY NEW YEAR – Welcome to 2010!

Ok so everyone says “Happy New Year”…you are probably sick of hearing it already!
So let’s think about what it means and be done with it: New beginning, resolutions, fresh start, reinvention, new and exciting! It is also just another day, another month, another year….the differences you make today and the lessons learned from yesterday are what affect your future and the many years to come. Use this time to re-energize yourself and recharge your battery; get motivated and take small baby steps towards goals, towards change for the better, towards your bright future! It awaits you…whether you want it to or not…so make each baby step worth it!

Welcome to 2010…

Open the door, close the window! It is time to refresh, reinvent, rejuvenate and recharge!

As the window closes on 2009, take a moment to reflect on the many blessings given to you…even the perceived negative moments or events offer us an opportunity to find a silver lining, learn a new lesson, or grow. When you walk through the door to 2010, hold your head up high, smile and just breathe! Know that tomorrow is a new day, a new year where anything is possible.

It ‘s not so much about a New Year’s Resolution, but a recommitment to yourself, your family and the goals and dreams you had in 2009. Some take many years to come to fruition..so stay the course.

The burning question is this: Do you feel, act and think the exact same way as you did a year ago? Are your thoughts and actions moving you forward in a positive manner? What must you change, eliminate, or add to your life that will make next year even better?

I believe life is a journey and birthdays are to be celebrated, counted and lived out loud (think of the alternative!), and new years are the opportunity to start anew!

HAPPY NEW YEAR!!!!!!!

TAX CREDIT EXTENDED!!!

According to a recent news article, the Senate has agreed to extend the first time homebuyer credit for a few months. Great news… Also, if you have owned a home before… but not in the last 3 years, you may still qualify for all or part of the credit. Here is the story from the Associated Press (AP) WASHINGTON – Senators have agreed to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers.

The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November.

A spokeswoman for Senate Majority Leader Harry Reid said senators agreed Wednesday to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years.

A congressional aide said the tax credits would be available to homebuyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes. The aide, who spoke on condition of anonymity, was not authorized to publicly discuss the deal.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

It’s That Time Again

MERRY CHRISTMAS! HAPPY HANNAKUH! SEASON’S GREETINGS! HAPPY NEW YEAR!
May you smell the rose……..or plant some new ones!
See you in the new year 2010!

Still Time To Buy

Although it is the holidays, there are still fantastic real estate buying opportunities. What a great gift to you and your family….a new home!
And while the kids are out of school and everyone is taking time off anyway, buy a house and move in during the holidays or at least plan for it and start packing!

Call your realtor and stay active. You might even find a motivated seller looking to provide a great deal for the holidays!

HAPPY THANKSGIVING

May you be blessed with good health, good friends, and the wisdom to realize that life is a journey where being grateful for the little things will bring success, happiness and harmony beyond your wildest dreams.

Have a wonderful Thanksgiving Holiday!!!!

No. 1 Secret for Selling

Selling Secret #1: The first impression is the only impression
No matter how good the interior of your home looks, buyers have already judged your home before they walk through the door. You never have a second chance to make a first impression. It’s important to make people feel warm, welcome and safe as they approach the house. Spruce up your home’s exterior with inexpensive shrubs and brightly colored flowers. Entryways are also important. Try making it welcoming by putting in a small bench, a vase of fresh-cut flowers or even some cookies.

Overall, enjoy the process and make your home your buyer’s home…focus on the goal….to SELL, SELL, SELL!!!