Oct. 10, 2008 - Clean your screens before winter

Many home owners remove and clean their window screens before storing them for the winter. This can prolong the life of the screen, and -- if you clean the windows too -- will make your winter view crystal clear. Here are a few tips to make the task easier:

* Remove the screens from the window frame, following the manufacturer’s instructions. Be careful not to bend or damage the screen.
* Put the screens on a flat surface, such as the driveway or lawn, and wet the screens thoroughly with water.
* Dip a scrub brush into a solution of 3 parts water to 1 part ammonia and apply to the screen using a very light scrubbing motion. Be sure you don't scrub too hard or push the fabric which can stretch or cause damage to the screen.
* Lightly brush both sides of the screen using overlapping, rotating strokes. In addition, clean the interior and exterior of the frame.
* Rinse the screens thoroughly with fresh water (preferably lukewarm) to make sure all cleaning solution is removed.
* Shake or tap the screen gently against the ground to remove excess water. Let the screens dry naturally, or give a quick wipe with an absorbent towel to speed up the drying process.
* Never pressure wash screens because the force will likely damage them.
* Cover the screens in plastic and store in an out-of-the-way place in an upright or flat position.

By cleaning your screens in the fall, you'll appreciate looking through clean windows all winter, and you'll have clean, ready-to-install screens next spring.
 

Oct. 4, 2008 - About Loan Discount Points

Understanding Loan Discount Points

The term "loan discount points" is somewhat misleading. First off, there's no discount involved. Secondly, it's not about points, it's about dollars.

Loan discount points are a one-time fee charged by the lender at closing in order to give you a lower interest rate on your loan. Each point is 1 percent of the mortgage amount; for example, one discount point on a $100,000 loan equals $1,000.

Each discount point paid on a 30-year loan typically lowers the interest rate by 0.125 percent. That means a 7.5 percent rate would be lowered to 7.375 percent if you purchase one point. Paying for points lowers your interest rate because the lender receives the income in a lump sum at closing rather than collecting the interest as you make payments.

Buying points to lower your interest rate is not always a good idea. While buying points is sometimes a good decision, many times the purchase costs you more than it saves. It's very important that you analyze the costs to figure out how many years you need to keep the loan to break-even on paying points. Sometimes it takes 10+ years to reach the break-even point. Do you plan to live there that long?

Sep. 25, 2008 - Tight Mortgage Credit Curtails Sales Activity

I came acros a recent report from the National Association of Realtors regarding the slowing down of existing home sales that I thought was interesting. Existing-home sales were down in August following a healthy gain in July as tight mortgage credit curtailed activity.

Sales rose in the Midwest and South but fell in the Northeast and West. Nationally, existing-home sales -- including single-family, townhomes, condominiums and co-ops -- declined 2.2 percent to a seasonally adjusted annual rate of 4.91 million units in August from an upwardly revised pace of 5.02 million in July. “The difficulty in obtaining a mortgage increased over the past couple months, making it more challenging for creditworthy borrowers to find financing,” said NAR President Richard F. Gaylord, adding the pendulum in the mortgage market has swung too far. “Our hope is that overly tight lending criteria can be loosened with reasonable standards and credit so that sales activity can catch up with demand. Interest rates have already declined, but there is a serious question as to whether a cash infusion by the U.S. Treasury into Wall Street would help consumers by improving mortgage funding. “We urge Congress to restore access to sound mortgage credit so people have the ability to make and keep a long-term investment in the American dream of homeownership. Congress needs to take care of Main Street and not just bail out Wall Street.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 6.48 percent in August from 6.43 percent in July; the rate was 6.57 percent in August 2007. However, as of late September, the 30-year fixed had dropped to 5.78 percent, the report said. With the recent crisis the mortgage industry is in, it will be an interesting year ahead no doubt.

Sep. 20, 2008 - Tankless Water Heaters Make Good Sense

If your current water heater is on its last leg, or you've decided you need a better unit to suit your needs, consider a tankless water heater when you go shopping.

Tankless water heaters can save energy and money and deliver an endless flow of hot water. While a conventional tank-style water heater continuously stores 40 to 80 gallons of water and keeps it hot until it’s needed, a tankless water heater only heats water when it's needed. Obviously, keeping 40 to 80 gallons of water hot 24 hours a day, seven days a week, month after month, wastes considerable energy.

Instead of continuously heating a large tank of water, a tankless water heater circulates incoming water through a series of electric coils or gas burners that heat up automatically when you turn on a hot water tap or appliance. When you turn off the faucet, the elements or burners turn off. In other words, you're only burning energy when you have a demand for hot water.

There are several varieties of tankless water heaters, from small electric point-of-use models (for use at a specific location, such as a kitchen or bathroom sink) to larger gas appliances that supply the entire house. Point of use models start around $150 and larger units capable of supplying more hot water start around $750.

Sep. 20, 2008 - Area Schools affect Home Values

You've most likely heard that location, location, location is the most important factor in real estate. While this may be true, another important factor to consider as you try to find the best neighborhoods for resale value is the quality of the local school system. Even if you don't have children, it would be prudent to research the closest schools before purchasing a home.

By placing a call to the local school district, you should be able to find out what type of funding area students receive, what the average class size is, and how well students have performed on standardized tests. In addition, find out if they offer any special programs, what percentage of students graduate and go on to college, and whether or not the district will be opening or closing any schools in the near future.

For many prospective home buyers with children (or plan to), the quality and reputation of the local school system may be as critical to their buying decision as the appeal of the home itself. Regardless of where the home is located, the quality and reputation of the schools will affect the home's value, not only when you buy, but when you sell.

Also, you can find out a lot of information about the school district and individual schools on the internet.

Here are a few example websites in Texas about schools:

• Lewisville ISD
• Great Schools, The parents guide to k-12 success
• Texas Education Agency
• Texas Accountability ratings
• Lewisville School statistics
• Flower Mound School statistics
• Highland Village School Statistics
• All other Texas School Statistics
• Private school Directory
• Texas Schools k-12
• Texas Private Schools
• Texas Private School Review
• State Regulation of Private Schools

 Thank You and I hope this information is helpful to you.

Sep. 6, 2008 - New listing in Lewisville

Aug. 29, 2008 - Existing-Home Sales Projected to Improve

 According to a mid-August report by the National Association of Realtors®, some improvement is projected for existing-home sales in the months ahead, with broader gains seen by the fourth quarter as buyers take advantage of new provisions provided through the recently passed housing stimulus bill. The Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts signed in June, rose 5.3 percent to 89.0 from a downwardly revised reading of 84.5 in May, but remains 12.3 percent below June 2007 when it stood at 101.4.

“The vacillation of data from one month to the next indicates a housing market in transition,” said NAR Chief Economist Lawrence Yun, adding that sales have been in a pattern of rising and falling within a fairly narrow range. “The rise in pending home sales was broad-based with all four regions showing gains. This is welcome news because a rise in contract activity is necessary for an overall housing recovery. With a tax credit now available to first-time home buyers, increases in home sales could be sustained with the momentum carrying into 2009.”

The PHSI in the South jumped 9.3 percent to 92.4 in June; rose 4.6 percent to 101.0 in the West; increased 3.4 percent to 79.6 in the East; and inched upward 1.3 percent to 79.6 in the Midwest.

“Buyers entering the hardest-hit markets, in some cases with multiple-bid offers, may have put a floor on prices,” said Yun, adding that home prices did notfall as much as anticipated in the second quarter. "In addition, rising commodity prices and higher construction costs have resulted in a very unusual market today with existing-home prices being less than replacement building costs in some areas. Home prices are projected to increase 3 to 6 percent in 2009.”

The 30-year fixed-rate mortgage is expected to trend up to 6.5 percent by the end of 2008, and then hold at that level for most of next year, the report said.
 

Aug. 6, 2008 - New listing at 1269 Marchant Pl in Lewisville

Aug. 4, 2008 - goog-411

Did you know you can google a local business or service with your phone?

You don't need a computer, an internet connection, or even a keypad on your phone or mobile device. GOOG-411 is voice-activated, so you can access it from any phone, in any location, at any time -- and for free.

Here's what you do:

    * Dial 1-800-GOOG-411 from any phone.
    * State the location and business type.
    * Connect to the business for free.

If you are calling from a mobile device, GOOG-411 can even send you a text message with more details and a map. Simply say "text message" or "map it."

Aug. 4, 2008 - 8 Steps to Painting/Staining Concrete

One way you can easily and economically improve the appearance of your home is to paint or stain any concrete walls, flooring, patios or other outdoor surfaces that are gray and boring. While the process is a bit more difficult than painting an interior wall, it's still fairly easy and the results can be fantastic. Here's how you do it:

1. Test the Area -- Before painting the concrete, perform a moisture test by taping a 24-inch square of plastic to the area and waiting 48 hours. If there is any discoloration or any visible signs of moisture trapped in the plastic, the cement should not be painted or stained.
2. Roughen the Surface -- Concrete should be as rough as 120 grit sandpaper; smooth concrete will not accept stains or coatings. You can roughen the surface with a wire brush and acid-based solution or use a cement etching solution found in most home improvement stores. You can also use a floor sander or shot blaster to roughen the surface.
3. Clean the Surface Thoroughly -- Use a degreaser or concrete cleaner to remove all paint, dirt, moisture, etc. The concrete must be clean and dry or the paint or stain will not work correctly. If you use a power washer, wait at least 48 hours before doing any repairs, painting or staining.
4. Repairs -- Fix any cracks or holes in the concrete with hydraulic cement.
5. Seal the Concrete -- Masonry coating works best. Let dry.
6. Primer -- Apply a coat of concrete-safe primer with a roller or sprayer. Let dry.
7. Paint/Stain -- Apply paint or stain with a roller or sprayer and let dry. Apply additional coats of paint as needed. Always dry thoroughly between coats.
8. Sealer -- Apply a coat of concrete-safe sealer.

Jul. 27, 2008 - Existing-Home Sales Down Slightly in June

According to a late-July report from the National Association of Realtors (NAR), existing-home sales fell 2.6 percent to a seasonally adjusted annual rate of 4.86 million units in June from a pace of 4.99 million in May.

“A recent online survey of Realtors® shows nearly a quarter of potential home buyers are waiting on the sidelines,” said NAR President Richard F. Gaylord, adding there is something of a quandary in the current market. “However, timing the market can be very tricky, which is why home buyers should always have a long-term view to build wealth.”

Total housing inventory at the end of June rose 0.2 percent to 4.49 million existing homes available for sale, which represents an 11.1-month supply at the current sales pace, up from a 10.8-month supply in May.

“About four in 10 homes are purchased by first-time buyers, which frees existing owners to trade up,” said NAR Chief Economist Lawrence Yun, emphasizing the critical role first-time home buyers have on the health of the housing market. “With many potential first-time home buyers on the sidelines, a first-time buyer tax credit would have a significant positive impact on both housing and the economy. Combined with permanent increases to mortgage loan limits and enhancing the FHA loan program, the housing stimulus package working its way through Congress would go a long way toward helping consumers and boosting the overall economy.”

The national median existing-home price for all housing types was $215,100 in June, down 6.1 percent from a year ago when the median was $229,000, the report said.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 6.32 percent in June from 6.04 percent in May; the rate was 6.66 percent in June 2007.
 

Jul. 27, 2008 - Be careful before you co-sign for a mortgage loan.

With home loans getting more difficult to obtain in many cases, you may be asked by a family member or friend to co-sign a loan. But, before you co-sign, keep these points in mind.

* Your liability for the loan may keep you from getting other credit (or loans) because creditors will consider the co-signed loan as one of your financial obligations.
* Make sure you can afford to re-pay the loan or make the payments. If you become responsible for the loan and can't make the payments, you will likely be sued and your credit will be damaged.
* Before you pledge property (real estate, RV, boat, auto) to secure the loan, make sure you understand the consequences. If the borrower defaults, you could lose the pledged property.
* Try negotiating the specific terms of your obligation. For example, you may want to limit your liability to only the principal, and not include late fees or administration costs. Get it in writing.
* Get the lender to agree to notify you immediately if the borrower misses any payments. This will give you time to deal with the situation before it becomes a major problem. Once again, get it in writing.
* Check your state law for additional co-signer rights and responsibilities.
* Get copies of all documents.

Jun. 30, 2008 - 8 Mistakes Sellers often Make

Take your time when selecting a real estate agent. Interview several agents; ask them key questions. If you want to make your selling experience the best it can be, it is crucial that you select the best agent for you.

Jun. 28, 2008 - Common Types of Landscape Lighting

Common Types of Landscape Lighting

Landscape lighting is an easy way to add curb appeal and makes outdoor living space useable once the sun goes down. Most home improvement stores offer lighting kits for the do-it-yourselfer. But, before you run out and buy some lighting, take a moment to determine its purpose. Following are the most common types of lighting.

    * Bollards -- This type of lighting is generally used for lighting walkways and sidewalks.
    * Floodlights -- These are designed to throw all the light in one direction and work well for security and safety purposes; they are available with or without motion sensors. These are often used over the garage and around doorways.
    * Tier Lights -- This type of lighting makes your home more inviting and is often used for paths and stairs. Also referred to as path lights, these fixtures have tiers of rings that cast light downwards, shielding your eyes from light bulb glare.
    * Well Lights -- Also known as up-lights, this type of lighting is used to highlight design and landscape features, such as trees, waterscapes, gardens and walls.
    * Spotlights -- This fixture focuses the light tightly in one area and is used for highlighting special features.
    * Globe Lights -- These fixtures have the light bulb enclosed in a globe with no metal or plastic shade. It is designed to throw light in all directions for a diffused illumination. It is often used in swimming pools, spas, fountains and other water features.
    * Mushroom Lights -- This type of lighting has a wide shade to conceal the bulb and is ideal for lighting flower gardens and other decorative ground cover.
    * String Lights -- Strings of white or colored lights are used to create a festive atmosphere and are commonly used in trees and around the perimeter of outdoor living spaces.

Jun. 28, 2008 - 8 Tips on Homeowners Insurance

When purchasing a home you will be required to show proof that you have homeowners insurance, also commonly called hazard insurance or home insurance. In fact, all lenders will require a policy to be in force prior to funding the loan.

The most commonly written policy, the HO-3, is designed to cover all aspects of the home, structure, its contents, loss of its use, loss of personal possessions and liability in the event of an accident.

It's important that your policy specifically names what will -- and what will not -- be paid in the case of various events. Typically, claims due to earthquakes, floods and other natural disasters are excluded (but often available for an additional premium). In addition, you should have your policy updated occasionally to reflect the current value of your property. Following are a few tips.

   1. Don't Wait -- Find out if you have the right type and amount of insurance before something bad happens.
   2. Increase Your Deductible -- Increasing it a little can make a big difference in your premium.
   3. Discounts -- There are dozens available; ask your insurance agent about which ones might apply to you.
   4. Purchase Enough Coverage to Replace What Is Insured -- "Replacement" coverage gives you the money to rebuild your home and replace its contents. An "Actual Cash Value" policy only covers what your property is worth at the time of loss (takes into account depreciation).
   5. Special Coverage -- If you have valuable jewelry, coins, antiques, electronic equipment, etc., you may want to pay a little extra to have it covered.
   6. National Flood Insurance Program -- Homeowners who live in areas prone to flooding should check into this program.
   7. Shop Around -- Get at least three quotes as prices vary.
   8. Choose Your Battles -- Once you have home insurance, be careful about making too many claims. Frequent claim activity can be grounds for non-renewal, so make sure your claims are reasonable.

Jun. 28, 2008 - Home Sales Forecast to Improve for Rest of '08

According to a recent forecast by the National Association of Realtors®, a modest gain in the level of home sales is possible over the next couple months, and an improvement is forecast for the second half of this year as more buyers are able to access affordable mortgages.

The Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts signed in April, rose 6.3 percent to 88.2. It’s the highest index since last October, but remains 13.1 percent lower than April 2007 when it stood at 101.5.

“Bargain hunters have entered the market en masse, especially in areas that have experienced double-digit price declines, but it’s unclear if they are investors or owner-occupants,” said NAR Chief Economist Lawrence Yun. “Sharp price reductions are leading to a quicker discovery of price equilibrium points. The West is already seeing year-over-year gains in pending contracts.”

In the West, the PHSI rose 8.3 percent to 98.8 in April and is 4.0 percent higher than April 2007. In the Midwest, the index jumped 13.0 percent to 83.7 but remains 13.1 percent below a year ago. The South increased 4.6 percent to 88.8 but is 22.5 percent below April 2007. In the Northeast, the index declined 1.9 percent in April to 79.3 and is 12.2 percent below a year ago.

NAR’s housing affordability index has been trending up this year and is projected to rise 15 percentage points to 128.0 for all of 2008, the report said. The 30-year fixed-rate mortgage should rise gradually to 6.3 percent by the end of this year.