Kristine Baugh's Home Spot

Texas Q2 Home Prices Rise

2011-08-04T13:11:00.002-05:00

Restate prices during the second quarter of 2011 indicate strength in the Texas market: The median price was $150,400, 1% higher than the same quarter of 2010. The average price in 2011-Q2 was $201,288, 4.6% higher than 2010-Q2.

The increase in the average price of Texas homes indicates more activity among higher priced homes. Buyers of higher priced homes have been less affected by tightened mortgage lending standards, and real estate has been an attractive investment vehicle due to instability in other investments, such as securities.

Another important market indicator is the inventory of homes available for sale compared with the demand to buy homes. Measured in months, Texas had 8.1 months of inventory in the second quarter of 2011 compared to 7.2 months in Q2-2010. This is still fairly balanced, with some of the additional inventory believed to be banks resuming foreclosure proceedings.

Homes Sales Slip, Prices Stabilize

2011-07-21T08:33:00.001-05:00

Existing-home sales eased in June as contract cancellations spiked unexpectedly, although prices were up slightly, according to the National Association of Realtors®.

Sales gains in the Midwest and South were offset by declines in the Northeast and West. Single-family home sales were stable while the condo sector weakened.

Total existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, declined 0.8 percent to a seasonally adjusted annual rate of 4.77 million in June from 4.81 million in May, and remain 8.8 percent below the 5.23 million unit level in June 2010, which was the scheduled closing deadline for the home buyer tax credit.

Lawrence Yun, NAR chief economist, said this is an uneven recovery. “Home sales had been trending up without a tax stimulus, but a variety of issues are weighing on the market including an unusual spike in contract cancellations in the past month,” he said. “The underlying reason for elevated cancellations is unclear, but with problems including tight credit and low appraisals, 16 percent of NAR members report a sales contract was cancelled in June, up from 4 percent in May, which stands out in contrast with the pattern over the past year.”

Yun cited other factors in the sales performance. “Pending home sales were down in April but up in May, so we may be seeing some of that mix in closed sales for June. However, economic uncertainty and the federal budget debacle may be causing hesitation among some consumers or lenders.”

The national median existing-home price for all housing types was $184,300 in June, up 0.8 percent from June 2010. Distressed homes – foreclosures and short sales generally sold at deep discounts – accounted for 30 percent of sales in June, compared with 31 percent in May and 32 percent in June 2010.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 4.51 percent in June, down from 4.64 percent in May; the rate was 4.74 percent in June 2010.

NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I., said home sales should be higher. “With record high housing affordability conditions thus far in 2011, we’d normally expect to see stronger home sales,” he said. “Even with job creation below expectations, excessively tight loan standards are keeping many buyers from completing deals. Although proposals being considered in Washington could effectively put more restrictions on lending, some banking executives have hinted that credit may return to more normal, safe standards in the not-too-distant future, but the tardiness of this process is holding back the recovery.”

Phipps added that lower mortgage loan limits, due to go into effect on October 1, already are having an impact. “Some lenders are placing lower loan limits on current contracts in anticipation they may not close before the end of September. As a result, some contracts may be getting cancelled because certain buyers are unwilling or unable to obtain a more costly jumbo mortgage,” he said.

Total housing inventory at the end of June rose 3.3 percent to 3.77 million existing homes available for sale, which represents a 9.5-month supply4 at the current sales pace, up from a 9.1-month supply in May.

All-cash transactions accounted for 29 percent of sales in June; they were 30 percent in May and 24 percent in June 2010; investors account for the bulk of cash purchases.

First-time buyers purchased 31 percent of homes in June, down from 36 percent in May; they were 43 percent in June 2010 when the tax credit was in place. Investors accounted for 19 percent of purchase activity in June, unchanged from May; they were 13 percent in June 2010.

The balance of sales was to repeat buyers, which were a 50 percent market share in June, up from 45 percent in May, which appears to be a normal seasonal gain.

Single-family home sales were unchanged at a seasonally adjusted annual rate of 4.24 million in June, but are 7.4 percent below a 4.58 million pace in June 2010. The median existing single-family home price was $184,600 in June, up 0.6 percent from a year ago.

Existing condominium and co-op sales fell 7.0 percent to a seasonally adjusted annual rate of 530,000 in June from 570,000 in May, and are 18.0 percent below the 646,000-unit level a year ago. The median existing condo price5 was $182,300 in June, up 1.8 percent from June 2010.

Regionally, existing-home sales in the Northeast fell 5.2 percent to an annual pace of 730,000 in June and are 17.0 percent below June 2010. The median price in the Northeast was $261,000, up 3.1 percent from a year ago.

Existing-home sales in the Midwest rose 1.0 percent in June to a pace of 1.04 million but are 14.0 percent below a year ago. The median price in the Midwest was $147,700, down 5.3 percent from June 2010.

In the South, existing-home sales increased 0.5 percent to an annual level of 1.86 million in June but are 5.6 percent below June 2010. The median price in the South was $159,100, down 0.1 percent from a year ago.

Existing-home sales in the West declined 1.7 percent to an annual pace of 1.14 million in June and are 2.6 percent below a year ago. The median price in the West was $240,400, up 9.5 percent from June 2010.

The National Association of Realtors®

Dallas Mortgage Fraud Ringleader Sentenced to 11 Years

2011-06-03T11:36:00.002-05:00

DALLAS BUSINESSMAN, ERIC RULACK FARRINGTON,
SENTENCED TO 11 YEARS IN FEDERAL PRISON, FOR ORCHESTRATING
MULTI-MILLION DOLLAR MORTGAGE FRAUD SCHEME

Farrington is Last Defendant to Be Sentenced in Case

News Station Investigation: Farrington Fraud: MyFoxDFW.com

DALLAS — Eric Rulack Farrington, 58, of Irving, Texas, was sentenced today by U.S. District Judge Sam A. Lindsay to 132 months in federal prison for largely orchestrating a multi-million dollar mortgage fraud scheme in the Dallas area, announced U.S. Attorney James T. Jacks of the Northern District of Texas. Judge Lindsay also ordered that Farrington pay approximately $2.5 million in restitution and forfeit approximately $1.2 million to the U.S. Farrington, along with seven other defendants, were convicted in April 2010, following a nearly two-month long trial on various felony offenses related to the fraud scheme that they operated in the Dallas area from March 2002 until January 2006. He is the last defendant in this case to be sentenced and was ordered to surrender to the Bureau of Prisons on September 6, 2011.

The jury convicted Farrington on all 32 counts of the superseding indictment, including: one count of conspiracy to commit wire fraud, one count of bank fraud and aiding and abetting, 15 counts of wire fraud and aiding and abetting, 10 counts of money laundering and aiding and abetting and five counts of engaging in a monetary transaction with criminally derived property and aiding and abetting. Farrington was the president of Eric Farrington Seminars, Inc. and Prestige Capital Corporation, which did business as Farrington Mortgage Group. He was also a manager of EFC Investments, LLC, which did business as EFC Management Company. All were located in Dallas.

Farrington’s former fiancé, Janice Little Shepherd, 51, of Irving, Texas, a mortgage broker who did business as EFC Capital Mortgage Company, was sentenced yesterday by Judge Lindsay to five years in prison and ordered to pay $1,564,498 in restitution and forfeit approximately $1.2 million to the U.S. She was convicted at trial on one count of conspiracy to commit wire fraud, 11 counts of wire fraud and aiding and abetting and four counts of engaging in a monetary transaction with criminally derived property and aiding and abetting. She was also ordered to surrender to the Bureau of Prisons on September 6, 2011.

Other defendants convicted and sentenced in the scheme include:

∙ Regis Lamont Williams, 45, of Dallas, was a Texas certified real estate appraiser who did business as Executive Certified Appraisal. He was convicted on one count of conspiracy to commit wire fraud, one count of bank fraoud and aiding and abetting, nine counts of wire fraud and aiding and abetting and five counts of engaging in a monetary transaction wtih criminally derived property and aiding and abetting. He was sentenced on April 28, 2011 to 46 months in prison and ordered to pay approximately $1 million in restitution and forfeit approximately $1.2 million to the U.S. In addition, the U.S. Attorney’s office will send a copy of his judgment order to the Texas Appraiser Licensing and Certification Board for whatever action they deem appropriate.

∙ Kevin Ray Sanderson, 36, of Irving, Texas, was a business associate of Farrington and the vice president of Farco Construction, Inc., Dallas, which also did business as Farrington Mortgage Group. He was convicted on one count of conspiracy to commit wire fraud, one count of bank fraud, four counts of wire fraud and aiding and abetting and one count of money laundering. Earlier this week he was sentenced to 57 months in prison and ordered to pay $762,983 restitution, and forfeit approximately $1.2 million to the U.S.

∙ James Edward Jones, 45, of Dallas, was a real estate agent. He was convicted on one count of conspiracy to commit wire fraud and two counts of wire fraud and aiding and abetting. On August 27, 2010, he was sentenced to 30 months in prison and ordered to pay $624,414 restitution and forfeit approximately $1.2 million to the U.S.

∙ Edwin Terrence Bell, 44, of Fort Worth, Texas, was in the real estate management business and was the president of Togetherness, Inc. Bell also did business as The Togetherness Group and TTG, Inc. He was convicted on one count of conspiracy to commit wire fraud, five counts of wire fraud and aiding and abetting and two counts of engaging in a monetary transaction with criminally derived property and aiding and abetting. On August 27, 2010, he was sentenced to 41 months in prison and ordered to pay $442,604 in restitution and forfeit approximately $1.2 million to the U.S.

∙ Micheal (sic) Lewis Andrews, 51, of Plano, Texas, was chief executive officer of Second Chance Mortgage, Inc. and did business as 2nd Chance Mortgage. He was convicted on two counts of wire fraud and aiding and abetting. He was sentenced last week to 24 months in prison and ordered to pay $108,659 in restitution.

∙ Robert John Mason, 56, of Oak Leaf, Texas, was an employee of Prestige Capital Corporation. He was convicted of two counts of wire fraud and aiding and abetting. He was sentenced in July 2010 to 30 months in prison and ordered to pay $463,722 in restitution.

Prior to trial, Marcus Allen Parker, 36, of Rowlett, Texas, who was an associate of defendant Kevin Ray Sanderson, pleaded guilty to one count of conspiracy to commit wire fraud and was sentenced in July 2010 to three years probation.

The scheme was largely orchestrated by Farrington - a motivational speaker and author of a real estate book who had an infomercial on making money in real estate that ran on late night television. The defendants located single-family residences for sale in the Dallas area, including distressed and pre-foreclosure properties, and negotiated a sales price with the seller. They created surplus loan proceeds by inflating the sales price to an arbitrary amount substantially more than the fair market value of the residence, many times using inflated appraisals. In some cases, they would create a bogus outstanding mortgage lien to be discharged. They recruited individuals with high credit scores to act as borrowers and falsely represented to them that the property would be managed by the defendants and rented by a suitable tenant; that the mortgage, interest, taxes, insurance and property maintenance would be paid from the rental income; and the purchasers/borrowers would have no expenses. The borrowers had no intention to live in the property and did not have sufficient income to repay the loans. They said they relied on Farrington.

The defendants prepared and submitted fraudulent loan documents showing inflated incomes in the names of the borrowers and obtained loans in inflated amounts based on these fraudulent loan documents. Then they used the fraudulently obtained surplus loan proceeds to pay the sellers kickbacks, to conceal the fraud, and distributed the bulk of the proceeds among themselves. They would then allow the loan to go into foreclosure after a few payments were made on the loan.

Some of the residences used in the scheme include:

1420 Travis Circle South, Irving, Texas
6231 Azalea Lane, Dallas
7730 Cliffbrook Drive, Dallas
10907 Cinderella Lane, Dallas
7617 Arborgate Drive, Dallas
13735 Ashridge Drive, Dallas
6824 Winterwood Lane, Dallas
6840 Winterwood Lane, Dallas
6915 Winterwood Lane, Dallas
7012 Creek Bend Road, Dallas
1509 Appalachian Drive, Allen, Texas

Mortgage fraud is a major focus of President Barack Obama’s Financial Fraud Enforcement Task Force. President Obama established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes. The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources. The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes.

U.S. Attorney Jacks praised the investigative efforts of the FBI and Internal Revenue Service - Criminal Investigation and the cooperation of several state agencies including the Texas Department of Savings and Mortgage Lending and the Texas Appraiser Licensing and Certification Board. Assistant U.S. Attorneys Joseph Revesz and Walt Junker prosecuted the case.

In Texas, Tighter Restrictions on Eminent Domain

2011-06-02T11:46:00.003-05:00

Texas legislation tightens restrictions on state and local governments' ability to invoke eminent domain authority to convert private property for public use.

The legislation, Senate Bill 18, requires government entities to make reasonable purchase offers to landowners for their property, allows landowners to buy their land back at the original price 10 years later if it isn't used by then, and adds criteria that agencies must meet before declaring eminent domain over private property.

The Texas Association of Realtors has actively supported eminent domain reform for years. Chairman Dwight Hale explained, "The exercise of eminent domain, while considered a necessary tool of government by some, has been argued to have been expanded and used in improper ways by others. We commend Governor Perry for closing loopholes that have allowed for eminent domain abuses in the past and strengthening property owners' rights for the future."

SOURCE Texas Association of Realtors

Home Sales by Foreign Buyers Surge

2011-05-19T10:01:00.002-05:00

The U.S. continues to remain a top destination for foreign buyers as international purchases surged by $16 billion this year, one of the highest increases in recent years. This is according to the National Association of REALTORS®’ 2011 Profile of International Home Buying Activity.

According to the survey, total residential international sales in the U.S. for the past year ending March 2011 equaled $82 billion, up from $66 billion in 2010. Total international sales were split evenly between non-resident foreigners and recent immigrants, while combined total domestic and international existing-home sales in the U.S. reached $1.07 trillion.

Recent international buyers came from 70 different countries, up from 53 countries in 2010. For the fourth consecutive year, Canada was the top country of origin, with 23 percent of sales to foreigners. China was the second most popular country of origin, with nine percent of international sales this year. Tied for third were Mexico, the U.K., and India. Argentina and Brazil combined reported an increase in foreign sales with five percent, up from two percent in 2010. The top five countries of origin accounted for 53 percent of international transactions in 2011.

The average price paid by an international buyer was $315,000 compared to the overall U.S. average of $218,000.

The four states with the heaviest concentration of international buyer activity have remained the same over the past five years. Florida had 31 percent of total international transactions this year, the most of any state. California had 12 percent, Texas had nine percent, and Arizona rounded out the top four with six percent of international transactions.

Source: National Association of REALTORS

Gas Prices Influence Home Buying Decisions

2011-05-18T14:38:00.002-05:00

The rise in gas prices is influencing buyer decisions as they shop for a new home, causing more buyers to make short commutes and home offices a top priority, according to a new survey of more than 1,000 of its real estate professionals about buyer trends.

Seventy-five percent of those surveyed say the spike in gas prices is influencing their clients’ decisions on where to live. What’s more, if gas prices continue to increase, 93 percent predict that even more buyers will choose to live somewhere closer to their work. Gas prices are topping $4 a gallon and higher, and are up about 30 percent over last year, which is starting to put a dent in many Americans’ pocketbooks.

Additionally, the rise in gas prices is prompting more buyers to look for homes that will allow them to work-from-home. Indeed, 77 percent of those surveyed say that more of their buyers are showing an interest in having a home office compared to five years ago. Gas prices also seem to be spiking a renewed interest in urban living.

More than half of real estate professionals surveyed say they are seeing more buyers wanting to target homes in urban areas compared to five years ago, citing shorter commute times, being able to walk to more places, and being near public transportation as the most likely reasons for the urban-area migration. More buyers are also choosing homes closer to shops and services due to the increase in gas prices, according to the survey.

Source: “In Consumer Behavior, Signs of Gas Price Pinch,” The New York Times (May 17, 2011)

Remodeling Project Return on Investment - Dallas

2011-04-12T09:06:00.004-05:00

The Cost vs. Value home remodeling report for 2010-11 is now available. Published by Remodeling magazine, this study lists which home improvement projects in 80 US markets retained their value at resale.

Project types are separated into "Midrange" and "Upscale" and detail the job's cost, resale value, and percentage of cost recouped at the time of resale.

In Dallas, the midrange project with the greatest return is entry door replacement. At a job cost of $1,045 and resale value at $1,415, the cost recouped is 135.3%. The upscale project retaining the most value was a grand entrance redo, at a cost of $6,800, resale value of $5,218 and cost recoup of 76.7%.

Bottom line? First impressions are lasting impressions, and it's worth the money and time to invest in a safe and attractive entrance to your home.

Source: Remodeling 2010-11 Cost vs. Value Report www.costvsvalue.com

What Would You Do?

2011-03-08T08:19:00.001-06:00

We could all use a little help with a home improvement project! Here's a chance to win $25,000 from Better Homes and Gardens.

Small Bath Remodel - Age Appropriate

2011-03-01T09:53:00.002-06:00

Here is a step-by-step "manual" for a bath remodel that completely updates the room while staying true to the archictural time period of the home. Note how the use of earthy brown (not usually the average choice for a small bath paint) creates a cozy, relaxing atmosphere!

http://www.lowescreativeideas.com/idea-library/projects/cottage_bath_update_0110.aspx?cm_mmc=email_newsletter-_-realtor_121310-_-num1-_-num

2011 Housing Forecasts

2011-01-28T09:09:00.003-06:00

What's in store for the housing market in 2011? Since 2006, the number of homes sold has fallen each year in Texas. Sales for 2010, however, hovered closer to 2009 levels. Does this mean the beginning of the end of the market slump? Economists Mark Dotzour and James Gaines from Texas A&M University weigh in.

JOB GROWTH
According to Dotzour and Gaines, Texas needs at least a 2% job rate increase to stimulate new households and encourage buyers to the market.

PRICES
The median home price in Texas did well in 2010 compared to the rest of the country. Dotzour and Gains predict that median will increase slightly by the end of 2011.

INTEREST RATES
Rates should stay relatively low to stimulate economic activity. As the year rises, though, we should notice a rate increase. If buyers expect rates to increase, they may feel pressure to buy sooner rather than later.

LOCAL MARKETS
There is little risk of overemphasizing that real estate is a local market. Even within Texas, housing has performed differently. When looking at the DFW area, many neighborhoods have fared better than others during the past few years. It's important that as a buyer or seller, you seek reliable data from a real estate professional who is well acquainted with the sales performance of your particular neighborhood. Foreclosures and distressed sales have significant impact on price per square foot, as does new construction.

BUYER EXPECTATIONS
Consumer attitude plays a substantial role in housing. Today's buyer expectations are as fragile as our recovering economy. Whether realistic or not, buyers' views on pricing, condition, interest rates, and loan availability will ultimately determine the 2011 market.

In Dallas, expect modest increases in home sales and prices. Economic indicators point toward a slow overall improvement in the economy and relatively stable interest rates. Home ownership has always proved beneficial in the long run.

Source: Texas Realtor Jan/Feb 2011

Want to Buy and Refurbish a Home?

2011-01-27T19:28:00.003-06:00

It's still possible to obtain financing to purchase and then renovate a home. Here are some highlights from a program available from one lender--

One-Time Close Renovation/Mortgage Loans
-Convenience--one application, one approval, and one closing for both the renovation and the permanent loans

-Cost savings--only one set of closing costs

-Tax benefits--interest paid during the life of the loan may be tax deductible

-Loans up to $1,000,000 or more

-Extended rate lock for up to 18 months

-Loans available for primary or secondary residences

Please call Alan at BBVA Compass for information: 214-695-9546

Let's Wrap About Insulation

2011-01-20T09:46:00.003-06:00

Insulation, while not glamorous, plays an important role in your home's overall energy efficiency and value. Buyers will look in the attic to see if your home is properly insulated.

The type of insulation recommended for your attic and wall spaces depends on your home's construction and location.

Here is an excellent webpage to use as a resource: http://www.costhelper.com/cost/home-garden/insulation.html

Mortgage Rates Return to Record Low

2010-11-09T07:34:00.004-06:00

Mortgage rates revisited record lows this week, with the average rate on the benchmark conforming 30-year fixed mortgage rate returning to 4.42 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.37 discount and origination points.

The average 15-year fixed mortgage hit a new low of 3.81 percent, and the larger jumbo 30-year fixed rate did as well, sinking to 5.04 percent. Adjustable rate mortgages were mostly lower, with the average 5-year ARM falling to 3.57 percent and the average 7-year ARM retreating to 3.87 percent. Mortgage rates fell back into record low territory this week. The Federal Reserve has announced another injection of $600 billion over the next 8 months, but it remains to be seen if this is enough to push Treasury yields and mortgage rates lower, and if so, by how much. Even if the Fed is successful in pushing rates lower, it doesn't alter the fact that many would-be borrowers are upside-down, living on a reduced income, or concerned about a lack of job security.The last time mortgage rates were above 6 percent was Nov. 2008. At that time, the average rate was 6.33 percent, meaning a $200,000 loan would have carried a monthly payment of $1,241.86. With the average rate now 4.42 percent, the monthly payment for the same size loan would be $1,003.89, a savings of $238 per month for a homeowner refinancing now.

SURVEY RESULTS
30-year fixed: 4.42% -- down from 4.51% last week (avg. points: 0.37)
15-year fixed: 3.81% -- down from 3.90% last week (avg. points: 0.28)
5/1 ARM: 3.57% -- down from 3.67% last week (avg. points: 0.34)

(Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.)

Source: RISMEDIA 11/9/10

HUD Awards $100 Million in Grants

2010-10-14T14:11:00.003-05:00

WASHINGTON – For the first time ever, the U.S. Department of Housing and Urban Development (HUD) is awarding nearly $100 million in new grants to support more livable and sustainable communities across the country. HUD Secretary Shaun Donovan today announced that 45 regional areas will receive funding through a new initiative intended to build economic competitiveness by connecting housing with good jobs, quality schools and transportation.

In Texas, groups in Austin and Houston-Galveston are finalists for awards of $3.7 million.

HUD’s new Sustainable Communities Regional Planning Grant Program will support State, local, and tribal governments, as well as metropolitan planning organizations, in the development and execution of regional plans that integrate affordable housing with neighboring retail and business development. Many of the grants will leverage existing infrastructure and all reward local collaboration and innovation.

“Regions that embrace sustainable communities will have a built-in competitive edge in attracting jobs and private investment,” said Donovan. “Planning our communities smarter means parents will spend less time driving and more time with their children; more families will live in safe, stable communities near good schools and jobs; and more businesses will have access to the capital and talent they need to grow and prosper. In awarding these grants we were committed to using insight and innovation from our stakeholders and local partners to develop a ‘bottom-up’ approach to changing federal policy as opposed to ‘top-down.’ Rather than sticking to the old Washington playbook of dictating how communities can invest their grants, HUD’s application process encouraged creative, locally focused thinking.”

These grants are part of the Obama Administration’s Partnership for Sustainable Communities, which brings HUD, the U.S. Department of Transportation, and the U.S. Environmental Protection Agency together to ensure that the agencies’ policies, programs, and funding consider affordable housing, transportation, and environmental protection together. This interagency collaboration gets better results for communities and uses taxpayer money more efficiently. Coordinating federal investments in infrastructure, facilities, and services meets multiple economic, environmental, and community objectives with each dollar spent. The Partnership is helping communities across the country to create more housing choices, make transportation more efficient and reliable, reinforce existing investments, and support vibrant and healthy neighborhoods that attract businesses. At a time when every dollar the federal government invests in jumpstarting the economy is critical, the President’s plan ensures that all these agencies are coordinating efforts and targeting resources with precision. Reflecting this new collaboration, these grants were judged by a multidisciplinary review team, drawn from eight federal agencies and from partners in philanthropy.

HUD’s inaugural grants under this program will support metropolitan and multi-jurisdictional planning efforts that incorporate housing, land use, economic development, transportation and infrastructure. This holistic planning approach will benefit diverse areas across the U.S. including $25.6 million split evenly between regions with populations less than 500,000 and rural places (fewer than 200,000 people). HUD is reserving $2 million to help all of these areas build the needed capacity to execute their plans.

The grants are awarded through one of two categories. One category of grants will assist regional planning for sustainable development where such plans do not currently exist. A second category of funding will support the implementation of existing sustainability plans.

Shelley Poticha, the director of HUD’s new Office of Sustainable Housing and Communities said, “The response to this program is huge. We were inundated with applications from every state and two territories – from central cities to rural areas and tribal governments. This program was designed by people from local government, and incorporated local input at every stage.”

View a complete list of finalists here.

Galactically Recognized!

2010-10-13T10:25:00.002-05:00

Relocating? Call me!

Bank of American Stops Foreclosure Sales

2010-10-08T12:27:00.003-05:00

Bank of America just announced it will stop the sales of foreclosure properties in all 50 states. If you are under contract to PURCHASE a foreclosed property, it would be prudent to seek legal counsel.

http://news.yahoo.com/s/ap/20101008/ap_on_bi_ge/us_foreclosure_mess

Imagine New Possibilities for Under-used Spaces

2010-10-08T06:27:00.000-05:00

Home Design--How to Analyze How You Use Your Home and Imagine New Possibilities for Under-used Spaces

TX Attorney General Demands Suspension of Foreclosoures

2010-10-06T15:32:00.008-05:00

Texas Attorney General Greg Abbott has sent a demand letter to 30 mortgage banking and servicing institutions asking that these institutions immediately “suspend all foreclosures, all sales of properties previously foreclosed upon, and all evictions of persons residing in previously foreclosed upon properties” until these institutions have taken eight specific steps to rectify possible past errors in mortgage documents.

In this case, Texas Attorney General Abbott has noted possible violation by these banking institutions of the Texas Deceptive Trade Practices Act, the Texas Debt Collection Act, the Texas Penal Code, the Texas Property Code, the Texas Government Code, and the Texas Constitution.

How will the banks respond?

The Houston Chronicle reported on Oct. 6 that some banks will not honor the AG’s request. If an institution chooses not to respond to or honor the demand letter, then the transaction should proceed as if no demand letter had been sent.

If an institution chooses to respond to the demand letter, then the transaction could be affected in various ways:

Foreclosures: Institutions that honor the AG’s request will likely postpone foreclosures that have already been posted and will likely not post additional foreclosures until the dispute has been resolved.

Foreclosed properties that are listed for sale: Institutions that honor the AG’s request will likely not enter into a sales contract for a listed foreclosure until the dispute has been resolved.

Foreclosed properties that are under contract for sale: Institutions that honor the AG’s request may delay closing a sales contract for a listed foreclosure under contract until the dispute has been resolved.

Short sales: Institutions that honor the AG’s request may choose to delay closing on a pending short-sale transaction until the dispute has been resolved.

Evictions of persons residing in previously foreclosed upon properties: Institutions that honor the AG’s request will likely not evict previous homeowners who continue to live in the foreclosed house until the dispute has been resolved. The institutions could, however, attempt to convince the occupant to leave the property by offering cash for keys.

Commercial vs. residential properties: The demand letter makes no distinction between commercial and residential properties.

Read the Demand Letter and see a list of banks below:
Letter from the Attorney General
List of Banks

Source: Texas Association of Realtors

Lead Paint Rules Update

2010-10-01T09:05:00.005-05:00

Lead is a toxic metal that was used for many years in products found in and around our homes. Lead also can be emitted into the air from motor vehicles and industrial sources, and lead can enter drinking water from plumbing materials. Lead may cause a range of health effects, from behavioral problems and learning disabilities, to seizures and death. Children six years old and under are most at risk

Recently, law was passed to require contractors who disturb lead-based paint in homes, child-care facilities and schools built before 1978 to be certified and follow specific work practices to prevent lead contamination. Although the law applies to 79 million houses, just 38 million of those are believed to have lead paint. That law took effect April 22, but in late June, the EPA said it would delay enforcement of the law until October because there weren't enough government-approved trainers needed to certify thousands of contractors. That enforcement deadline has now been extended to Dec. 30.

By early July, 320,000 contractors had been certified. There had been an "opt-out" clause that allowed consumers to permit contractors to bypass extra preparation, cleanup and record-keeping requirements in homes where there were no children under 6 years old or pregnant women, thus avoiding additional costs. That provision expired July 6, and the EPA had no plans to reinstate it. The National Association of Homebuilders and others filed suit to force the EPA to reinstate the opt-out rule.

The law states that a hazardous condition exists when lead-paint dust is present on a floor to the extent of 40 micrograms (one millionth of a gram) in a square-foot area. Another way of expressing it is if a square centimeter lead-based paint chip were ground into dust, it would (by EPA standards) contaminate 25 square feet of floor space. The feds require the "proper" containment and cleanup when six or more square feet of lead-based paint will be "disturbed" in a home.

The EPA suggests consumers ask to see certification before they sign a contract. Since December 2008, contractors have been required by law to supply a brochure to customers outlining the dangers and rules.

If your home was built prior to 1978, it could contain lead paint. There could be extra costs associated with a remodelling project for testing and remediation of lead paint, so please talk to your contractor about this before any paint is disturbed in your home.

For more information on Lead-Based Paint rules, please visit the EPA website.

"As-Is" Home Purchases

2010-09-17T08:58:00.004-05:00

Many homes, especially bank-owned properties, are advertised as to be sold "as-is." What does this mean? A home being sold in as-is condition is one that will transfer ownership in its current condition, and the seller is stating up front that no repairs will be made to the property. The home could be in good condition, or it could have major structural or mechanical components in need of repair or replacement.

In Texas, buyers can present a purchase offer to a seller that includes an "option period" to evaluate the condition of the property. This option provides the buyer a prescribed period of time, in exchange for monetary consideration, to terminate the contract for any reason or no reason.

During this option period, an inspection can be performed at the expense of the buyer. In an as-is purchase, the inspection should be considered as an evaluation to see if the buyer wants to move forward with the purchase or terminate, not to re-negotiate the terms of the contract. However, if specific repairs are identified, the parties can negotiate to amend the contract to specify seller-paid repairs of the items before closing, a price adjustment, or buyer termination of the contract. Some sellers will agree to make repairs prior to closing, especially if they are lender-required repairs, and other sellers will stick to the "as-is" condition, particularly banks. Banks will usually include contract addenda at the time of acceptance that address whether repair requests will be considered.

It's important to have the guidance and advice of a REALTOR during your home search and purchase. I cannot emphasize enough the need for a home inspection and an option period to evaluate the condition of any property. A home (foreclosures, particularly) might be listed at a bargain price, but it isn't a wise investment if the repair costs after the purchase are astronomical.

As always, seek the advice of an attorney for legal questions.

Bigger Isn't Better, Know Who's in Charge

2010-09-16T08:29:00.004-05:00

Before selecting a real estate agent to represent you during a sale or purchase transaction, please be aware that "bigger isn't better" when it comes to real estate brokerages. Just because a real estate agent works for a large company, it does not necessarily translate into them having more experience or knowledge. I am a licensed broker in the state of Texas, and I am the owner of my real estate company. The buck stops with me.

The Texas Real Estate Commission recently issued this letter to brokers:

The Texas Real Estate Commission (TREC) is duly concerned about the ability of one sponsor to adequately supervise a large number of licensees. We would like to take this opportunity to
remind you of your obligations as a sponsor under The Real Estate License Act (“TRELA”) and of the Commission’s intention to diligently enforce these provisions.

As a sponsoring broker, you are responsible for the authorized acts of your salespeople. [TRELA §1101.803, Rule 535.2] A broker should also be aware that a complaint filed against a sponsored salesperson is also a complaint against the broker for the purpose of determining the broker’s involvement in the alleged violation and whether the broker properly supervised the salesperson. [Rule 535.141(c) and (d)] Corporations or LLCs can only provide the required level of adequate supervision through the personal involvement of the designated officer (DO), or where the broker or designated officer clearly delegates certain responsibilities to a qualified supervisor who fulfills these obligations.

The sponsoring broker and the DO are always responsible for the salesperson's actions, even when the salesperson does not work out of the broker’s main office or when the salesperson owns his or her own real estate company. [TRELA §1101.803, Rule 535.2(a)] A salesperson may not lawfully engage in brokerage activity unless the salesperson is associated with, and acting for, a sponsoring broker at all times. [TRELA §1101.351(c)] The broker will also need to obtain a branch office license for the office location from which the salesperson transacts business. [Rule 535.112] If the salesperson’s company engages in business under an assumed name, the broker must notify TREC in writing within 30 days after the salesperson or the sponsoring broker starts or stops using the assumed name. [Rule 535.154(c)]

Although a broker’s responsibility to supervise the broker’s sponsored agents may be delegated to another person with the proper level of experience and expertise, adequate supervision under the law must be maintained for all agents and entities in every location. Brokers operating at a significant distance from the entities for which they serve as DOs, or who have a significant number of agents or entities that they sponsor have a very high hurdle to overcome to ensure the methods and tools of adequate supervision are in place, are workable, and are effective. Formal written policies and procedures should be available, should be reasonable, should be actually used, and sponsored agents should be adequately trained on them, and such training documented. There are many practical matters which must be dealt with, such as client access to the broker or DO, advertising methods and disclosures, to ensure consumers are adequately protected and not misled.

For example, all advertisements by a broker’s sponsored agents must comply with TRELA §1101.652(b)(23) and Rule 535.154. At minimum, subsection (e) of this rule requires an advertisement placed by a licensee to "include information identifying the advertiser as a real estate broker or agent. The name of a salesperson sponsored by the broker may also be included in the advertisement, but in no case shall a broker or salesperson place an advertisement which in any way implies that the salesperson is the person responsible for the operation of a real estate brokerage." A broker may be held liable for a sponsored agent’s violation of any advertising requirement and we suggest that the broker conduct a careful review of all sections of Rule 535.154 and have proper advertising guidelines and/or an advertising review procedure in place to ensure compliance at all times prior to placement of any advertisement.

This message is a reminder to live up to the high standards of the profession you enjoy. We know that most brokers take these responsibilities seriously and strive to make them a part of their daily business practices. The Commission’s Broker Responsibility Working Group is currently developing enhanced professional standards for brokers to better enable the Commission to carry out its primary mission of consumer protection. We hope that you will continue to take your supervisory responsibilities as a broker seriously and will join us in working for the betterment of the profession as a whole. By doing so, we will surely gain increased trust and respect from the people of Texas whom we all serve.

Sincerely,
Douglas E. Oldmixon, Administrator
Texas Real Estate Commission

Preparing Your Home for Fall

2010-09-13T09:48:00.002-05:00

With fall around the corner, it’s a great time to start prepping your home for the cooler months. It's better to be ready for the cold season…before it hits. State Farm offers up some fall maintenance tips for your home:

Windows and Doors

Check all windows and doors for proper operation and seal.
Windows that can be opened by breaking the glass and unlocking them, are less effective deterrents to criminals. Check with the hardware store for window lock alternatives.
All exterior doors should have deadbolt locks.

Stairs

Make sure there are working nightlights at the top and bottom of all stairs.
Tile and painted wood or concrete stairs can be slippery when wet or when a person's shoes are wet. Resurface the treads with slip-resistant strips near the stair nosing.
All stairs of at least three risers should have a handrail.
Do not store items on the stairs.

Heating

Have a heating professional check your heating system every year.
Woodburning stove connector pipes and chimneys should be inspected by a certified chimney sweep at least annually.
Replace your furnace frequently to allow your heating system to operate properly.
Have a certified chimney sweep inspect and clean the flues and check your fireplace.
Remove bird nests from chimney flues and outdoor electrical fixtures.

Source: RISMedia

10 Lost (or no) Cost Ways to Improve Home Appeal

2010-09-07T09:04:00.004-05:00

When selling your home, the goal is to sell it quickly for the highest price while investing as little as possible in renovations. With a limited budget and a little effort, you can greatly increase your home's appeal by focusing on what prospective buyers can see on their first visit. It is a buyer's market, and a buyer will move on to the next listing if your home is not presented at its best.

Tip #1: Refresh the exterior

First impressions count when it comes to selling a home. Most buyers won’t even leave their car if they don’t find the exterior appealing. The best ways to improve your home’s exterior include:

-Repairing and/or replacing trims, shutters, gutters, shingles, mailboxes, window screens, walkways and the driveway.

-Painting siding, trim and shutters and lamp and mailbox posts.

-Pressure washing vinyl siding, roofs, walkways and the driveway.

-Washing windows.

Tip #2: Spruce up the lawn and landscape

Home buyers associate the condition of your lawn and landscaping with the condition of your home’s interior. By improving the outside, you affect buyers’ impression of the entire property. The best ways to enhance the yard include:

-Mowing and edging the lawn.

-Seeding, fertilizing and weeding the lawn.

-Keeping up with regular lawn maintenance and frequent watering.

-Trimming and/or removing overgrown trees, shrubs and hedges.

-Weeding and mulching plant beds.

-Planting colorful seasonal flowers in existing plant beds.

-Removing trash, especially along fences and underneath hedges.

-Sweeping and weeding the street curb along your property.

Tip #3: Create an inviting entrance

The front door to your home should invite buyers to enter. The best ways to improve your entry include:

-Painting the front door in a glossy, cheerful color that complements the exterior.

-Cleaning, polishing and/or replacing the door knocker, locks and handles.

-Repairing and/or replacing the screen door, the doorbell, porch lights and house numbers.

-Placing a new welcome mat and a group of seasonal potted plants and flowers by the entry.

Tip #4: Reduce clutter and furniture

A buyer cannot envision living in your home without seeing it. A home filled with clutter or even too much furniture distracts buyers from seeing how they can utilize the space your home offers. If you have limited storage space, you may want to consider renting a temporary storage unit to place items you wish to keep. The best ways to declutter your home include:

-Holding a garage sale to prepare for your move, getting rid of unnecessary items.

-Removing clutter such as books, magazines, toys, tools, supplies and unused items from counter tops, open shelves, storage closets, the garage and basements.

-Storing out-of-season clothing and shoes out of sight to make bedroom closets seem roomier.

-Removing any visibly damaged furniture.

-Organizing bookshelves, closets, cabinets and pantries. Buyers will inspect everything.

-Putting away your personal photographs, unless they showcase the home. Let buyers see themselves in your home.

-De-personalize rooms as much as you can.

Tip #5: Clean, clean, clean

The cleanliness of your home also influences a buyer's perception of its condition. The appearance of the kitchen and bathrooms will play a considerable role in a buyer's decision process, so pay particular attention to these areas. The best ways to improve these areas include:

-Cleaning windows, fixtures, hardware, ceiling fans, vent covers and appliances.

-Cleaning carpets, area rugs and draperies.

-Cleaning inside the refrigerator, the stove and all cabinets.

-Removing stains from carpets, floors, counters, sinks, baths, tile, walls and grout.

-Eliminating house odors, especially if you have pets. Do not attempt to "cover up" odors such as pet stains in carpets with candles or potpourri.

Tip #6: Make minor repairs

The small stuff does count, especially with first-time home buyers. Except for major items such as a leaky roof or plumbing, you do not need to spend money on replacing these items. Instead, focus on the minor repairs that will make your home visually appealing. The best ways to improve your home include:

-Repairing ceilings and wall cracks.

-Repairing faucets, banisters, handrails, cabinets, drawers, doors, floors and tile.

-Caulking and grouting tubs, showers, sinks and tile.

-Adding fresh paint to ceilings, walls, trim, doors and cabinets.

-Tightening door handles, drawer pulls, light switches and electrical plates.

-Lubricating door hinges and locks.

Tip #7: Showcase the kitchen

The heart of any home is the kitchen. If you are going to spend any money on renovations, this is the one area where you will see the greatest return. Even with a modest budget, focusing on a few key areas can make a great difference in getting the asking price for your property. The best ways to showcase the kitchen include:

-Replacing cabinet doors and hardware.

-Installing under-cabinet lighting.

-Replacing light fixtures.

-Replacing outdated shelving with pantry and cabinet organizers to maximize space.

Tip #8: Stage furniture

Furniture placement can enhance the space of your home while giving buyers an idea of how to best utilize the space with their own belongings. Take some time to rethink how different areas in your house could be used. Some ideas to think about include:

-Moving couches and chairs away from walls in your sitting and family rooms to create cozy conversational groups.

-Creating a reading corner in the master bedroom.

-Clearing an empty room to set up a reading space.

-Turning an awkward space into a home office or exercise area.

Tip #9: Light up the house

Create a sense of openness and cheerfulness in your home through its lighting. To improve the lighting try:

-Opening shades and drapes to let the sunshine warm and brighten rooms.

-Installing brighter light bulbs in rooms that tend to be dark.

-Adding additional lamps for ambient lighting.

-Turning on all the lights for a showing.

Tip #10: Add fresh touches

You can easily add color and style to your home by adding fresh touches throughout. Some ideas to consider include:

-Placing fresh floral arrangements in the entry and master bedroom.

-Placing bowls of bright-colored fruit in the family room and the kitchen.

-Filling an empty corner with a potted leafy plant.

-Setting new hand soap in the bathrooms.

-Displaying fresh towels near sinks.

Source: RISMedia

The 9's

2010-09-03T11:00:00.007-05:00

Here's something fun I like to do every so often.

I go on a scavenger hunt through the multiple listing service for homes listed at a certain "number." For example, since September is the 9th month, I looked for homes priced in the 9's. Here are the results of Dallas homes (bathrooms, specifically) priced from $9,000 to $9 million. These are not my listings, by the way. Enjoy!

Here's one priced at $9,000. Brings new meaning to the term "garden tub."

At $90,000 simple, yet functional.

$900,000. Very nice.

And a "whoa mama" master bath suite for $9 million.

Why Some Houses Sit While Other Houses Sell

2010-09-02T09:20:00.000-05:00

2010-09-01T13:37:00.000-05:00

2010 School Ratings

2010-08-30T10:47:00.001-05:00

From my friends at Republic Title, here is a link to school ratings in the Dallas area.

Schools Do Affect Home Values

2010-08-20T10:35:00.002-05:00

As we prepare for traditional back to school activities, some families are searching for affordable housing based on local schools or desirable school districts. In some cases, proximity to quality schools is so important buyers may choose to rent close to a preferred school until the right home becomes available, especially if they're running out of time before the first day of school.

Because proximity to a quality school is such a high priority for some of these families as they search for their next home, they specifically chose neighborhoods with top ranked schools, which can sometimes as much as 10 to 28 percent higher in price than a comparable home in an area with lower ranked schools.

In my experience, North Dallas neighborhoods within the Richardson Independent School District are a popular choice for buyers relocating from other states or moving from other areas within the city. Other school districts, such as Plano, Allen, and Carrollton/Farmer's Branch are gaining in popularity.

So whether you have school age children or not, keeping an eye on your school's ranking does make a difference when it's time to sell your home. Many homeowners also support their local PTA and offer volunteer hours to stay involved with neighborhood schools.

No Federal Sales Tax on Home Sales

2010-08-06T10:55:00.002-05:00

It's a myth ... there is no federal sales tax on home sales. An Internet rumor continues to spread false information about a supposed tax on home sales. The erroneous e-mail claims that a provision of the healthcare reform bill passed earlier this year will place a tax on "all real estate transactions" in 2013. Not true.

Source: Texas Association of REALTORS

What in the World is Xeriscaping?

2010-06-30T10:18:00.004-05:00

Xeriscaping (or xerogardening) is the practice of landscaping and gardening in ways that reduce or eliminate the need for excess water. Taken from the Greek word, "xeros" (meaning dry), xeriscaping was initially designed to provide landscaping options for areas which are particularly sensitive to draught.

In addition to reducing the costs of watering and chemical maintenance, well executed xeriscaping can actually improve the curb appeal and value of a home.

Interested in saving water and eliminating lawn maintenance? Consider this green alternative. Below are a few links on the topic of xeriscaping:

An Overview of Xeriscaping:

http://eartheasy.com/grow_xeriscape.htm

Images of Xeriscaping:http://tinyurl.com/23keqet

Florida homeowners who have embraced xeriscaping: http://www.beacononlinenews.com/news/daily/2751

Photo: Texas hummingbird mint (A. cana) courtesy www.finegardening.com

Who’s Moving to Dallas?

2010-06-26T07:43:00.002-05:00

Click here to view a fascinating interactive map from Forbes.com that shows the movement pattern to (and from) Dallas County.

Search capabilities for other counties across the country are also available.

Real Estate is a Local Market!

2010-06-25T13:47:00.001-05:00

It's Good to Be #1

2010-06-24T13:45:00.003-05:00

This has nothing to do with real estate...

2010-06-24T12:59:00.005-05:00

But take a break, have some Romulin ale, and party like a Vulcan:

The Downsizing of American Homes

2010-06-23T08:23:00.005-05:00

Americans are (finally?) realizing the benefits of smaller living spaces. Baby boomers retiring, young people delaying marriage and families until later in life, and the economic woes may have forever changed the scope of residential property design.

U.S. Census Bureau studies show that the average size of a new house decreased last year for the first time in decades. In 2008, the average size of new construction was 2,277 square feet, but 2009 statistics show that the average size last year was 2,215. That's still twice as large as homes built in the 1960s, but it was the first drop in home size since the early 1980s.

"Home buyers have been changing," says Fran Litton, a planner with Evans Group, an architectural firm in Orlando, Florida. "They still want the luxury and toys, but they're putting them into a smaller space."

Smaller homes require owners to rethink what they really need and how to maximize storage and counter space. Likewise, the scale of furniture is changing. The days of oversized, overstuffed furniture in every room are gone--replaced by multifunctional pieces that combine comfort with hidden storage.

Matthew McNicholas, an architect with MGLM in Chicago, says that "a room is nicer when the details in it are nice." He adds that "the trend in bigger homes is to use less expensive materials because you need some much of it." But in a smaller home, it's more practical to upgrade to higher quality molding, flooring, and furniture to capitalize on elegance rather than filling space.

And, remember that smaller living space usually means lower mortgage payments, property taxes and utility bills.

Source: Maggie Sieger, REALTOR Magazine

Owner Financing in Texas

2010-06-05T08:14:00.007-05:00

What Property Owners Need to Know About the SAFE Act of 2008.

The SAFE Act improves the accountability and tracking of residential mortgage loan originators, enhances consumer protection, reduces fraud, and provides consumers with easily accessible information regarding the professional background of persons providing mortgage loan origination services. The SAFE Act's primary purpose is to place minimum licensure requirements on all mortgage-loan originators. However, the licensing requirements also expands to those who are offering to owner finance their investment or second home properties.

What does this mean to property owners and investors?

• A seller who wants to owner finance property must be licensed as a Residential Mortgage Loan Originator (RMLO) in ALL 1-4 family residential transactions that are not their primary residence or to a family member! (Property owners may finance the sale of their primary residence or provide financing to a family member without a license.)

• Applicants must complete education, submit fingerprints for background checks, pay association fees and pass an exam.
• Contrary to some rumors circulating, there are NO EXEMPTIONS for five or fewer transactions during a 12 month period.

UPDATE: The Department of Savings and Mortgage Lending has postponed the seller financing licensing requirement deadline until August 31, to allow time to discuss a proposal to allow sellers to finance up to 5 properties per year without a license. Stay tuned!

For more information, please visit the Texas Department of Savings and Mortgage Lending website.

Sources: Metrotex Realtor Assoc., www.HUD.gov, FDIC

Study Predicts Home Price Increase in 2010

2010-06-03T14:01:00.004-05:00

Home prices will manage a small gain in 2010 after the worst crash since the Great Depression but gains in coming years are likely to come slowly, a Reuters poll found. Home prices, as measured by the Standard & Poor's/Case-Shiller 20-city index, should rise 1.4 percent this year and 3 percent next year, breaking three years of sharp declines, according to the median forecast. Home prices in the Dallas/Fort Worth market have increased 2.65% this year, compared with last year, according to the current Case-Schiller Index.

Three-quarters of the economists polled said it was possible that average prices would return to where they were in 2006 before the crash, which would require a rise of more than 40 percent, but that may not happen for some time.

Source: Reuters, May 20, 2010

Buyer Bonus Event Works!

2010-05-26T07:18:00.005-05:00

The Coldwell Banker Buyer Bonus Event can work for you, whether you're buying or selling a home!

Buyers:
Receive up to an $8,000* credit at signing Open to all potential homebuyers — Where the home seller has agreed to participate
Sign on your terms — with flexible closing deadlines

Sellers:
Add prominence to your listing with an $8,000* incentive, applied at closing, for interested buyers
Increase exposure on coldwellbanker.com searches
Keep the momentum of the government tax credit going

Whether you are considering a home purchase, sale, or both. Please call me! My direct office number is 972-733-2204.

What Do Buyers Look For?

2010-05-24T16:02:00.004-05:00

Studies show that buyers look at four main characteristics in a home.
(The percentage is the percentage of buyers who rate that characteristic as their "most important." )

Location - 69%

Curb Appeal - 12%

"Homey" feel - 10%

Size - 9%

So, if you are a seller, it's important to realize that 78% of what a buyer is looking for is out of your control. Obviously you cannot easily change the location or size of your home. You do, however, have complete control your home's interior appearance curb appeal. It is your job as a seller to make the best first impression possible.

What factors influence the buyer's first impression of your home's interior?

Cleanliness, Clutter, Odors - 35%

Decor - 21%

Condition, Lighting - 16%

Floor Plan - 15%

Room Size - 13%

You can't easily change your home's floor plan or room size, but you do have control over 72% of the elements that most influence a buyer's impression of your home! If you want top dollar for your property, you simply cannot expect buyers to "see past" clutter, the lingering aroma of last night's dinner, or mountains of laundry.

The good news is that ALL of these things are easily and inexpensively remedied! Contact me for a free booklet on how to prepare your home for sale. Coldwell Banker even has a "Concierge" service with numerous resources to help with everything from carpet cleaning to moving company discounts.

Va-Va-Va Vinegar!

2010-05-10T07:15:00.003-05:00

Vinegar is a miraculous liquid. What else could transform nasty cucumbers into delicious pickles? I use vinegar for various household tasks. Although the odor doesn't appeal to me, it's nothing a good squirt of lemon or lavender essential oil can't remedy in a flash!

Here are two websites detailing the use of vinegar for just about everything:

http://www.vinegartips.com/

http://www.versatilevinegar.org/

KERA: Flower Mound Voters Weighing In On Gas Drilling (2010-05-06)

2010-05-06T07:12:00.002-05:00

Early voting in Flower Mound sets record turnout for city council elections due to a heated debate over natural gas drilling. Whoever wins Saturday will steer Flower Mound through the next round of drilling decisions, as the city tries to balance quality of life and natural gas revenue.

Full text/video available here:
KERA: Flower Mound Voters Weighing In On Gas Drilling (2010-05-06)

10 Warning Signs of Foundation Problems from Ricky Ellis

2010-05-05T11:50:00.003-05:00

It doesn’t take a Rocket Scientist to figure out your home needs foundation repair.There are several overt signs that make it apparent there is a issue, or that the house is sinking. Look for these signs and call a home foundation professional to doublecheck. Take these with a grain of salt. Only a certified foundation inspection agent can tell you for sure. Fortunately many companies offer free inspections.

10 Warning Signs You Property Could Need Foundation Repair

Cracks in walls on the inside of the house- Corners of windows will crack horizontallyand doors will pull away and not shut properly.

Cracks in your fireplace bricks- When bricks start cracking, you know you have a problem,since they are more stable than drywall.

Previously fixed Nail heads protruding out backwards- This means the gypsum board is being compromised, or bending based on the house leaning, or sinking one way another.

Windows and doors aren’t fitting squarely- Try raising and closing all doors and windows. Are they uneven?That’s a big sign.

Windows on the outside of the house have cracks that run diagonally - This is a slightly different crack that you will see from windows within the house because the caulk joints could be pulling apart too.

Cracks in the exposed concrete at the base of the house - If they are small it could be a non-structural problem, or it could be the first sign of trouble. Check with an inspector to be sure.

Standing water around the house after a rainfall - This could also have something to do with having improper drainage which should also be addressed.

Leaky roof- This could have to do with foundation, or poor roofing. If the roof is in good shape and is relatively new, then it is a foundation problem.

Trees too close to the house- This can cause roots to sidewind under and around the house, cut through concrete, and cause problems.

Roof runoff from gutters not draining away from the house- If once it drains into the yard, the water stays and doesn’t diffuse to a lower place such as a ditch, there could be a problem.

Are you seeing any of these signs? I hope not. Depending on what part of the country you are in, your home may be more susceptible to these issues.

Also, the price of fixing the foundation could depend on the age of your home, weather conditions, the size of your home, and several other variables.

Source: Ricky Ellis, Safety First Home Inspection www.safetyfirsthome.com

Here to Help.

2010-05-04T09:38:00.003-05:00

When you, a friend, or family member need assistance with finding or selling (or leasing) a home, please remember that I can help in just about any location in the U.S. and abroad.

Small Remodeling Projects that Add Value to Every Room

2010-04-24T12:45:00.001-05:00

Well, not all of these projects are what I consider "small," but I agree that they all add value and marketability to a home.

Small Remodeling Projects that Add Value to Every Room

Earth Day - Celebrate with Native Texas Plants

2010-04-22T09:56:00.001-05:00

It’s difficult to go anywhere these days without noticing reusable grocery bags, re-purposed material and recycling bins that dot courtyards and campuses. If you already use compact fluorescent bulbs, drink from reusable water bottles or carpool you might wonder, “What else can I do?”

The good news is small changes you make in how you approach your backyard and other landscapes are a big way to thank Mother Earth by showing your “go green” colors. Here are some eco-friendly tips from the Wildflower Center as part of charting a course towards greater ecological sensitivity and environmental consciousness.

Please read the entire article here:

Webpage Feature - Lady Bird Johnson Wildflower Center

Source: Lady Bird Johnson Wildflower Center

Earth Day is April 22

2010-04-21T11:36:00.000-05:00

Is It The Beginning of The End?

2010-04-20T06:12:00.004-05:00

Fresh data on new construction of U.S. housing units revealed an upward trend in place since the beginning of the year, with an initial report of February 2010 weakness revised away. Is this the beginning of the end of the housing crisis?

Starts rose 1.6% in March to a seasonally adjusted 626,000 annualized units, the Commerce Department recently reported. This was stronger than the 610,000 pace expected by economists surveyed by MarketWatch.

Even more surprising, February starts were revised higher to a 616,000 pace from the 570,000 previously reported. This was up 1.1% from the prior month. The initial estimate had been a 5.9% drop.

As a result of the revisions, starts have risen for three straight months and are now at their highest level since November 2008. “The bottom line is that there is an upward trend and construction will be moving higher provided that new-home sales improve as well,” said Michelle Meyer, economist at Barclays Capital. Meyer cautioned that one should not get carried away with the improvement as it comes from “an incredibly low level of activity.”

In March, strength came from multifamily starts. There was a slight decrease in starts of single-family homes. Starts of single-family homes fell 0.9% to a 531,000 rate in March, while starts of multifamily units surged 39.7% to 88,000.

The strength was concentrated in the South; all other regions declined in March.

“This was a modestly positive report. It is nice that construction is improving, but it would be better if the gains were more widespread,” wrote Joel Naroff of Naroff Economic Advisers.

In the past year, starts are down 20.2%. Starts of single-family homes are up 47.1%, while starts of apartments and condominium units have plunged 31.8%.

Building permits rose 7.5% to a seasonally adjusted annual rate of 685,000 in March.

Building permits for single-family homes increased 5.6% to a 543,000 rate—the highest level since August 2008. Many economists consider single-family permits to be the most important number in the government’s release. Permits for apartments rose 15.4% to 142,000.

The National Association of Home Builders recently said its members were more encouraged about their business in April. The builder’s sentiment index rose to 19 in April from 15 in March. “We may be seeing some modest improvement in the fundamentals for new housing construction,” wrote the RDQ economic team in a note to clients.

A tax subsidy for buyers expires at the end of April, and “we will need to see data for May and June before we can put too much weight on this conjecture,” the RDQ note said.

It can take four months for a new trend in housing starts to emerge from the data. In the past four months, housing starts have averaged 606,000 annualized, up from 594,000 in the four months ending in February.

The industry has slashed production of new homes to work off a massive amount of unsold inventory. The number of homes under construction fell 1.4% to a seasonally adjusted 489,000, the lowest on record, dating back to 1970. “Any pickup in demand,” Meyer said, “will warrant an increase in new construction.”

RISMEDIA (c) 2010, MarketWatch.com Inc.

Dallas and Collin County Home Sales Charts

2010-04-12T13:56:00.003-05:00

Source: Coldwell Banker Residential Real Estate

Homebuyer Tax Credit Deadline Approaching

2010-04-11T15:54:00.003-05:00

April 30 is the last day to take advantage of the federal tax credit for homebuyers. Under the guidelines, a home must be under contract by April 30 and close by June 30.

First-time buyers are eligible for up to $8,000 in credit. Current homeowners who have lived in their home for at least 5 of the past 8 consecutive years can qualify for up to $6,500 when relocating.

The National Association of REALTORS estimates that 4.4 million households will take advantage of the credit in 2010.

Expect many open houses during the month of April to give buyers every opportunity to find a new home! For more information on the tax credit or for a list of homes that match your "wish list" please contact me at 972-841-0999!

Mortgage Fraud Conviction - Video

2010-04-07T07:50:00.000-05:00

Eric Farrington, 7 others convicted in mortgage fraud case | News for Dallas, Texas | Dallas Morning News | Latest News

2010-04-06T08:21:00.001-05:00

Eric Farrington, 7 others convicted in mortgage fraud case | News for Dallas, Texas | Dallas Morning News | Latest News

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Pricing your home correctly

2010-03-30T10:01:00.000-05:00

Yuri posted a good video on the importance of pricing your home corrrectly.

Pricing your home correctly

Dallas Shows Largest Population Gain!

2010-03-24T06:43:00.002-05:00

Dallas-Fort Worth and Houston gained the most new residents of any city -- netting more than 140,000 each -- according to the Census Bureau's annual metropolitan area population estimates released on Wednesday. Meanwhile, music center Austin posted the second highest growth rate among top cities -- 3.1% -- just behind Raleigh, N.C.

"Texas stands as the most prominent Sun Belt survivor of the last half of the decade because of its diversified economy, smaller run-ups in housing prices, and fewer foreclosures," said William Frey, a demographer for the Brookings Institute, a liberal think tank.

Source: CNNMoney.com

5 Tips for a Successful Remodel

2010-03-12T10:53:00.004-06:00

As spring approaches, many home owners grow eager to start remodeling projects to update and refresh their surroundings. Before getting started, it’s a good idea to hire a professional remodeler for a workable plan and better results, according to the National Association of Home Builders (NAHB).

“A professional remodeler knows how to translate a home owner’s dreams and budget into a beautiful reality,” said Donna Shirey, President of Shirey Contracting in Issaquah, Wash. and 2010 chairman of NAHB Remodelers. “They have the expertise and skills to satisfy a customer while keeping the budget in check.”

Here are five tips for planning a successful home remodel that you can enjoy for many years to come.

1) Compile a list of home remodeling ideas and draft a budget for the work.

You likely have some projects in mind, such as modernizing the bathroom, renovating the kitchen, replacing windows or repairing the roof. Prioritize your wish list: Maybe you don’t have the budget for your dream remodel, but professional remodelers can maximize your dollars by doing the work in phases, suggesting budget-friendly products and materials, and implementing creative design solutions.

2)Look for a professional remodeler to help plan the project.

Asking friends and neighbors for names of qualified remodelers will also help you find a match for your project. Contact your city's Better Business Bureau for the company's rating. After you start speaking with remodelers and find one or two who match your project’s needs, be sure to conduct some background research by checking with the Better Business Bureau, talking to their references, and asking if they are a trade association member (such as NAHB Remodelers). Remodelers with these qualities tend to be more reliable, better educated, and more likely to stay on top of construction and design trends.

3) Agree on a contract.

Talk over the details of the home remodeling project and begin reviewing the contract. You’ll want to check the remodelers’ insurance coverage, ask about any warranties on their work, know who is responsible for obtaining any building permits, and understand the process for making any change orders after the contract is signed. Make sure that you and your remodeler see eye to eye before you sign on the dotted line.

4) Take advantage of the energy efficiency tax credits.

If your remodel includes replacing windows or doors, adding insulation, installing new roofing, upgrading heating or air-conditioning units, updating the water heater, or installing energy generating products (such as solar panels, heat pumps, or wind turbines) then you can take advantage of federal energy efficiency tax credits through 2010 that will help defray costs and maximize your remodeling budget while reducing home energy bills. (Learn more at www.nahb.org/efficiencytaxcredit.)

For more tips on planning a home remodel or hiring a professional remodeler, visit www.nahb.org/remodel.

Source: RISMedia/NAHB Photo: Kristine Baugh

What's Your Walkability Score?

2010-03-10T07:21:00.002-06:00

Walk.com rates neighborhoods based on residents' ability to get by without a car. Criteria used includes the area's proximity to public transit, schools, grocery stores, restaurants, parks, etc.

My neighborhood, Prestonwood Estates in Dallas, rates a 78 out of 100. This is considered "very walkable" and a terrific selling point for the neighborhood.

Check out your neighborhood's Walkability Score here.

Simple Bath Updates for Huge Impact

2010-03-04T13:14:00.000-06:00

A few simple updates to bathrooms can do so much to enhance the value, enjoyment, and marketability of a home. Whether you are considering selling, buying, or investing, here are some inspirational ideas for bathroom projects (in all price levels) that might help you visualize a bathroom's potential. Here is a "before" photo. Click here to see the AFTER photo!

Source: www.bhg.com

Creative Uses for Tile on Walls

2010-02-25T18:18:00.001-06:00

The home improvement articles from Better Homes and Gardens' website are always informative. I love this one on the use of tiles, and surprising materials being used in tiles now.

Yesterday, I saw a backsplash made of clear, recycled glass. It was a small kitchen with good morning light, and the glass reflected the light and brightened the kitchen quite nicely. I always support using recycled materials in a project.

Click here for more!
Creative Uses for Tile on Walls

Dallas-Fort Worth home prices up by 3 percent | News for Dallas, Texas | Dallas Morning News | Latest News

2010-02-23T13:29:00.001-06:00

Dallas-Fort Worth home prices up by 3 percent | News for Dallas, Texas | Dallas Morning News | Latest News

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Extended Home Buyer Tax Credit

2010-02-22T12:27:00.003-06:00

For details of the extended tax credit for first-time and move-up home buyers, which runs until April 30, 2010, click here: Extended Home Buyer Tax Credit: REALTOR® Magazine

Or just contact me!

Homes must be under contract by April 30 and close by July 1 to qualify.

Report States The Obvious--Foreclosures Are Bad for Neighborhoods

2010-02-17T12:01:00.000-06:00

The Journal of Real Estate Research conducted a study of the impact of foreclosures on neighborhoods. Surprising to no one, the results show that foreclosures definitely hurt neighborhoods and home values. Although the study states the obvious, it is important to note the data and analysis prove the impact that the surge in foreclosures has had/could have on our housing industry and the economy.

Here are excerpts from the study findings:

Housing foreclosures likely have little neighborhood impact if there are few foreclosures in a neighborhood and the foreclosed housing can resell quickly. However, when there are many foreclosures along with a sluggish housing market, foreclosures can lead to neighborhood destabilization, which should cause house prices to further fall.

As an added bonus, foreclosed properties tend to produce negative spillover effects including vacancies, reduced maintenance of the foreclosure property, and increased neighborhood crime.

Foreclosures cause lower sale prices, which increase the probability of more loan defaults.

As foreclosed housing builds up in a neighborhood, home sellers may delay the sale of their house in order to avoid a loss.

The foreclosures impact on neighboring sales prices. For example, assume a family purchased a home for $200,000 six months ago. Since the purchase, a foreclosure took place within 200 yards of the family's new home. Data shows a decline of 1.1% or about $2,200 in that family's home.

Read the entire study.

Source: Rogers, W., & Winter, W.. (2009). The Impact of Foreclosures on Neighboring Housing Sales. The Journal of Real Estate Research, 31(4), 455-479. Retrieved February 17, 2010, from ABI/INFORM Research. (Document ID: 1940056661).

The 10 Must-Have Home Features

2010-02-09T09:56:00.006-06:00

What features will sell a home quickly for top dollar in this housing market?

AVID Ratings Co. released the results of their annual home-buyer preference survey and revealed 10 "must have" features in a new home.

1. Large kitchen with an island
2. Energy efficient appliances, insulation, and windows
3. Home office/study
4. Main-floor master suite
5. Outdoor living area
6. Ceiling fans
7. Master suite soaker tubs
8. Stone and brick exteriors
9. Community landscaping, including walking paths & playgrounds
10. Two-car garage

Source: Avid Ratings Photo: Brava Realty

Home Insurance Basics

2010-02-04T13:36:00.001-06:00

Are all homeowners policies the same? No! There are 3 types of insurance, and it's important to understand the general characteristics of each before purchasing your policy.

Dwelling policies are also called fire policies, dwelling fire policies, and Texas Dwelling policies depending on the carrier. This is the most basic property policy available.
-It is an actual cash value policy and only covers the property if it is damaged by a fire
-The fire can be caused by a number of things including: electrical short, gas leak, cooking-related fire, flammable object, lightening,
-Since it only covers damage by fire, there is no coverage for hail, wind, water, etc. This category is almost never used on a persons primary home but is found on some types of rental property

Actual cash value policies are a very common offering from various carriers and offer more coverage than a fire policy. They are typically referred to as a named perils policy in that they cover only the perils that are named in the policy including:
-fire & smoke
-theft
-vandalism & malicious mischief
-wind & hail
-and potentially more if added optionally (referred to as "endorsed")
-Claims are paid on a depreciated basis.

Replacement cost policies offer the homeowner more protection in the event of a loss.
-Claims are paid on what it would cost to replace a specific loss such as a roof, furniture, the home, etc.
-Replacement cost can apply to the home, the contents or both
-The amount of replacement cost is limited to the amount of coverage applied to the dwelling and/or contents

This is different from what many people refer to as guaranteed replacement cost where the home can be replaced even if the cost to rebuild it exceeds the amount the home is covered for. Most carriers have changed their policies to limit the amount of replacement cost to the amount of coverage applied to the home and/or its contents.

Each of these categories of homeowners have their place depending on the coverage that is wanted & needed. How much the buyer wants to spend may also influence that decision, as well as the requirements of the mortgage company.

The bottom line is to know what you're buying and what coverage you need or have. No one wants to be surprised after they submit a claim!

Source/More Information: Ed Wise, Liberty Mutual Insurance

Addison Airport Featured in This Month's Autopilot

2010-02-02T12:31:00.000-06:00

Addison Airport was featured in the February issue of Autopilot magazine.

Read the article here.

Study Shows Dallas Housing on Upswing

2010-01-27T10:01:00.000-06:00

Despite grim national headlines, a new study shows that the Dallas housing market is on the upswing.

"While we continue to see broad improvement in home prices as measured by the annual rate, the latest data show a far more mixed picture when you look at other details," says David M. Blitzer, Chairman of the Index Committee at Standard & Poor's. "Only five of the markets saw price increases in November versus October. What is more interesting is that four of the markets – Charlotte, Las Vegas, Seattle and Tampa – posted new low index levels as measured by the past four years. In other words, any gains they might have seen in recent months have been erased and November is now considered their current trough value. On the flip side, there are still some markets that continue to improve month-over-month. Los Angeles, Phoenix, San Diego and San Francisco have seen prices increase for at least six consecutive months. Looking at the annual figures, four markets – Dallas, Denver, San Diego and San Francisco – have finally entered positive territory, something we really haven't seen in at least two years in most markets.

Dallas, Denver, San Diego and San Francisco are in positive territory with their annual figures at +1.4%, +0.5%, +0.4% and +1.0%, respectively.

Source: Standard and Poor's

2010 Texas Real Estate Forecast

2010-01-20T11:01:00.000-06:00

What does one top economist from the Real Estate Center at Texas A&M forecast for 2010?

1) It will be a year of recovery, not expansion for the entire economy

2) Rates should remain low, since Feds will concentrate on economic stimulus

3) Housing should do well during the first quarter, due to the expanded Homebuyer Tax Credit

4) Texas home prices and sales are expected to reflect 2009 figures

To read the complete article, click here.

Crooks Target Homes For Sale

2010-01-18T11:06:00.001-06:00

Thieves within the DFW area are increasingly targeting homes that are for sale. Local authorities issued a warning that persons posting as prospective homebuyers are targeting homes with high-end appliances.

Police think that a man driving a late-model Mercedes and showing a $950,000 credit approval letter is making appointments to see homes for sale and returning (or sending accomplices) later to remove appliances and other valuables from the home. The crook possibly leaves a door or window unlocked during the showing for later access.

Please be extra careful if you are selling your home "by owner." Ask anyone who requests a showing for a to see their driver's license, and write down their vehicle description and license number. If the person is legitimately interested in purchasing your home, they will understand the reason for your precaution. If they are unwilling to provide identifying information, think twice about allowing them into your home.

When you list your home with a REALTOR, he or she will place a SupraKey box on your property. This box can only be unlocked by a licensed REALTOR using a special electronic device. A REALTOR will also accompany prospective buyers into each room of your home and relock any doors or windows opened during the showing. Finally, a REALTOR will have a record of the prospects contact information and should contact the buyer's lender to confirm credit approval before taking them into your home.

And, always remove or lock away all valuables, weapons, prescriptions, and personal documents.

IRS Form For Energy Efficiency Tax Credit

2010-01-11T12:00:00.001-06:00

Here is a link to the Residential Energy Credits IRS Form 5695 and instructions for 2009.

Home Sales Dip, But Higher Than 12 Months Ago

2010-01-07T08:23:00.000-06:00

Pending Home Sales Down from Surge but Higher than a Year Ago

RISMedia

The Millionaire Next Door?

2010-01-06T16:10:00.000-06:00

We shouldn't assume that the wealthiest individuals live in the most expensive homes. Here are some statistics from "Stop Acting Rich...And Start Living Like a Real Millionaire" by Thomas Stanley, PhD.

The number of millionaires who live in homes valued at $1million or more: 403,211

The number of millionaires who live in homes valued at $300,000 or less: 1,138,070

Percentage of millionaires who live in homes valued at $1million or less: 90%

Estimated number of millionaires who live in mobile homes: 67,000

Percentage of homes valued at $1million or higher owned by millionaires: 27%

Dallas housing poised for a rebound – but how big? | Dallas Real Estate News | News for Dallas, Texas | Dallas Morning News

2010-01-03T09:31:00.001-06:00

Dallas housing poised for a rebound – but how big? | Dallas Real Estate News | News for Dallas, Texas | Dallas Morning News

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Lower Utility Costs and Get a Tax Credit!

2009-12-30T07:44:00.000-06:00

The American Recovery and Reinvestment Act of 2009 (ARRA) extends, expands, and simplifies the federal income tax credits for homeowners who make energy efficiency home improvements. The law extends the consumer tax benefits for another year, through 2010; triples the total available tax credit from $500 to $1,500; and increases the tax credit to 30 percent of the cost of each qualified energy efficiency improvement. The law also removes the cap on geothermal heat pumps and solar water heaters through 2016.

For improvements made in 2009 and 2010, you can get an income tax credit of up to $1,500 for installing efficient new windows, insulation, doors, roofs, and heating and cooling equipment in your home. However, efficiency criteria will vary dependant on when these items are "placed in service" (installed).

Who gets it? Individuals who install specific energy-efficient home improvements.

What energy-efficient home improvements are eligible? The overall $1,500 cap can be reached in several ways with the purchase and installation of energy-efficient products that meet certain efficiency criteria:

Exterior windows: Includes skylights and storm windows.
Insulation, exterior doors, or roofs: Includes seals to limit air infiltration, such as caulk, weather stripping, and foam sealants, as well as storm doors.
Central air conditioner, heat pump, furnace, boiler, water heater, or biomass (e.g. corn) stove: Starting in 2009, geothermal heat pumps are instead eligible for a separate tax credit—see Section 5 below.

Section 6.4 of this document contains the detailed criteria for the products and effective dates (in general only some Energy Star products qualify). Individuals can also search for qualifying heating and cooling products on the Consortium for Energy Efficiency’s web site.

In addition, to be eligible for the federal tax credits:

Windows, doors, insulation, and roofs must be expected to last at least five years (a two-year warranty is sufficient to demonstrate this).

Manufacturers can certify (in packaging or on the company’s web site) which of their products qualify for the tax credit. Retailers, contractors, and manufacturers should be able to help you determine what levels of insulation and what other products qualify.

All the improvements must be installed in or on the taxpayer’s principal residence in the United States. Condo and co-op improvements are apportioned to the owners.

For all the details, click here.
Source: Alliance to Save Energy

Resolution: Make Your Home More Energy Efficient

2009-12-29T10:09:00.000-06:00

As part of the yearly New Year's resolution-making ritual, the Alliance to Save Energy encourages consumers to check out their home's physical fitness and, depending on its overall state of health, put it on an "energy diet."

How is your Home's "Physical Fitness?"
The "physical fitness" of your home can make the difference between soaring energy bills or comfortable savings this winter. By cutting wasteful energy use, an energy-efficient home is a strong defense against winter winds, rain, sleet, snow, and chill while also reducing air pollution and greenhouse gas emissions and increasing national security.

And Uncle Sam is offering another incentive for putting your home on an energy diet: A 30 percent tax credit - a dollar-for-dollar reduction in your income taxes owed - of up to $1,500 during the remainder of 2009 and throughout 2010 for specific energy efficiency home improvements. Details on qualifying products, including insulation and sealing products, highly efficient furnaces, heat pumps, and windows, are available at www.ase.org/taxcredits.

The Alliance offers consumers step-by-step home physical fitness tips to cut energy bills and increase comfort:

Is Your Home Leaking Energy Dollars?
First plug air leaks. Your heating and cooling dollars could be going out your windows, doors, and electrical outlets. Seal all those air leaks with sealant or caulking and weather stripping.

Then, "insulate" yourself from price shocks. Install appropriate insulation for your climate based on R-values. Start with attic insulation, followed by exterior and basement walls, floors, and crawl spaces. Insulate and seal attic air ducts. These two first steps will increase your comfort, make your home quieter, and reduce your heating and cooling costs by up to 20 percent.

Go "window shopping" at www.efficientwindows.org to discover how high-performance ENERGY STAR-labeled windows can cut heating costs by as much as 30 percent compared to single-pane windows, while increasing indoor comfort and lessening fading of home furnishings.

Improve How You Care for and Heat Your Home
Heating accounts for 31 percent of the typical home's energy costs. Sealing and insulating your home, as well as the other energy efficiency measures below, will lower your heating bills, increase your comfort, and decrease your carbon footprint.

Properly maintain your HVAC system. Just as a tune-up for your car can improve your gas mileage, a semi-annual or yearly tune-up of your heating and cooling system can improve efficiency and comfort. The federal government's ENERGY STAR website can help you find a qualified individual (www.energystar.gov/index.cfm?c=heat_cool.pr_contractors_10tips).

Keep furnace filters clean. Check your filter every month, especially during heavy use months (winter and summer), and change it if it looks dirty. At a minimum, change the filter every three months. A dirty filter will slow down air flow and make the system work harder to keep you warm - wasting energy. A clean filter will also prevent dust and dirt from building up in the system, which could require expensive maintenance and/or cause early system failure.

Seal your heating and cooling ducts. In a typical house with a forced air system, about 20 percent of the air that moves through the duct system is lost due to leaks, holes, and poorly connected ducts. Sealing and insulating ducts increases efficiency, lowers home energy bills, and can often pay for itself in energy savings. Insulate ducts in unheated areas such as attics, crawlspaces, and garages with duct insulation that carries an R-value of 6 or higher. Also, a well-designed and sealed duct system may make it possible to downsize to a smaller, less costly heating and cooling system that will provide better dehumidification.

Let a programmable thermostat "remember for you" to lower the heat while your home is empty and/or overnight to reduce heating costs by up to 10 percent - and allow you to come home and wake up to a toasty, comfortable house.

Have to replace your HVAC equipment? Consider installing ENERGY STAR-qualified heating and cooling equipment. Installed correctly, these high-efficiency units can save up to 20 percent on heating and cooling costs. And, certain highly efficient models qualify for the current federal income tax credit.

Open curtains and other window treatments on your west- and south-facing windows during the day to allow sunlight to naturally heat your home, and close them at night.

Another Major Tip
Replacing or purchasing energy-using and energy-related products? Save up to 30 percent in related energy bills with products earning the ENERGY STAR label, the symbol of energy efficiency, on some 50 product categories, including appliances, electronics, windows, lighting, and home office equipment. See www.energystar.gov.

The Alliance offers consumers more money-saving energy tips on its website -- www.ase.org/consumers.

The Alliance to Save Energy is a coalition of prominent business, government, environmental, and consumer leaders who promote the efficient and clean use of energy worldwide to benefit consumers, the environment, the economy, and national security.

SOURCE Alliance to Save Energy

Dallas Offers Tree Recycling/Free Mulch Today Through January 15

2009-12-28T16:09:00.000-06:00

Bring your Christmas Tree to one of the locations listed below December 28, 2009 through January 15, 2010 between the hours of 9 a.m. and 4 p.m. (Please remove all tinsel, ornaments, lights, nails and tree stands before dropping off the tree for recycling)

Free mulch will be available at the Northwest Transfer Station and McCommas Bluff Landfill after January 1, 2010, and is available for residential customers only. Bring your shovel and containers!

For more information call City of Dallas at 3-1-1.

Northwest (Bachman) Transfer Station 9500 Harry Hines Blvd. (Monday – Saturday)
Southwest (Oak Cliff) Transfer Station 4610 S.Westmoreland Road (Monday – Saturday)
McCommas Bluff Landfill 5100 Youngblood Rd. (Monday – Saturday)
Fair Oaks Transfer Station 7677 Fair Oaks Ave. (Monday – Saturday)
Flag Pole Hill Northwest Hwy. at Buckner Blvd. (Monday – Sunday)

And, please recycle your Christmas cards, holiday gift wrap, gift bags, gift boxes, cardboard boxes (no Styrofoam), tissue paper and your holiday party items such as aluminum cans, plastic and glass bottles!

Dallas Boasts 2 of Top 10 Ranked US High Schools

2009-12-10T11:43:00.000-06:00

1 Thomas Jefferson High School for Science and Technology, Alexandria, VA
2 International Academy, Bloomfield Hills, MI
3 Whitney High School, Cerritos, CA
4 Oxford Academy, Cypress, CA
5 School for the Talented and Gifted at Yvonne A. Ewell Townview Center Dallas, TX
6 Newcomers High School, Long Island City, NY
7 Pacific Collegiate School Santa Cruz, CA
8 School of Science and Engineering Magnet Dallas, TX
9 BASIS Tucson, Tucson, AZ
10 International School, Bellevue, WA
Read the full article here.
Source: US News and World Report

Tips for Preparing Your Sprinkler System for Winter

2009-12-04T11:56:00.000-06:00

Dallas Water Utilities (DWU) recommends that residential and business property owners reprogram their sprinkler systems for the winter months, and DWU’s licensed irrigators are available to check your system for leaks and other problems.

Plants need much less water when the temperatures are cooler. Most plants, including lawns, go dormant this time of year and need just enough water to keep the roots alive.

“This is a good time for Dallas property owners to make seasonal adjustments to their irrigation system controllers,” said DWU Conservation Program Manager Carole Davis. “As a free service to our customers, DWU irrigation specialists are available to check systems for leaks and other problems,” Davis added.

After checking each customer’s system, the DWU irrigation specialists will make recommendations for the seasonal adjustment of sprinkler systems and any necessary repairs. (The property owner is responsible for any repairs.)

For more information contact:

Yvonne Dupré- Dallas WaterUtilities
(214) 671-9276
yvonne.dupre@dallascityhall.com

Noel Nielson - Dallas Water Utilities
(214) 670-5378
noel.nielson@dallascityhall.com

Oct. New Home Sales Exceed Expectations

2009-12-01T08:43:00.001-06:00

Sales of new homes rose 6.2% in October 2009 on strong results in the South, the Commerce Department estimated recently.

The rise in U.S. new-home sales to a seasonally adjusted annual rate of 430,000 was well above the 390,000 pace that economists surveyed by MarketWatch had expected.

Sales rose 23.2% in the South. By contrast, monthly sales fell by 20% in the Midwest, and by 5.1% in both the Northeast and the West.

“On the surface, one would have assumed that the surge in sales activity was induced by the rush of first-time home buyers trying to get ahead of the originally scheduled end of the first-time homebuyers’ tax credit at the end of October,” wrote Millan Mulraine, economics strategist with TD Securities, in a research note. “However, given the lopsided regional dimension to the increase in home sales, we are not entirely convinced that this was the only story.”

The government cautions that its housing data are subject to large sampling and other statistical errors, with large revisions common. It can take up to six months for a trend in sales to emerge.

The pace of new-home sales in September also was revised slightly higher, to a level of 405,000. New-home sales are up 5.1% compared with a year ago, the government’s data showed.

The supply of homes on the market fell to 239,000 in October, representing a 6.7-month supply.

The median sales price in October hit $212,200, compared with $213,200 in the prior year.

(c) 2009, MarketWatch.com Inc. RISMEDIA

Mortgage Rates Drop Again

2009-11-30T13:27:00.000-06:00

The average conforming 30-year fixed mortgage rate fell to 5.00 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.44 discount and origination points.

The average 15-year fixed mortgage was down to 4.47 percent while the larger jumbo 30-year fixed rate rose to 6.03 percent. Adjustable rate mortgages decreased slightly this week, with the average 1-year ARM inching down to 5.37 percent and the 5-year ARM slipping to 4.54 percent.

Mortgage rates are significantly lower than one year ago. This time last year, the average 30-year fixed mortgage rate was 5.92 percent, meaning a $200,000 loan would have carried a monthly payment of $1,188.83. With the average rate now 5.00 percent, the monthly payment for the same size loan would be $1,073.64, a savings of $115 per month for a homeowner refinancing now.

SURVEY RESULTS

30-year fixed: 5.00% -- down from 5.06% last week (avg. points: 0.44)
15-year fixed: 4.47% -- down from 4.48% last week (avg. points: 0.29)
5/1 ARM: 4.54% -- down from 4.58% last week (avg. points: 0.33)

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.
source: PR Newswire, bankrate.com

To check today's rates in the DFW market (as of this writing, lower than the national averages above for credit scores of 720 or higher), apply for a loan, and for APR disclosure, please visit http://www.continentalamerican.com/rates.html

Holiday Giving--Vogel Alcove

2009-11-23T10:34:00.000-06:00

Since 1987, the Vogel Alcove has been providing free exemplary child development services to the Dallas area’s youngest victims of poverty: very young homeless children.

The Vogel Alcove is the only comprehensive early childhood education program in the city of Dallas whose primary focus is to provide free services for homeless children who face multiple developmental risks.

Because of the Alcove’s 22-year legacy providing quality, licensed childcare and social services for children victimized by homelessness, 18 area affiliated homeless shelters, domestic violence shelters, and housing programs depend on the Alcove to provide services to the homeless families at their shelters.

Please consider giving a donation of a $25 holiday card to friends or family (image above) to benefit homeless children in Dallas.

Giving Tree House a Whole New Meaning

2009-11-19T10:53:00.000-06:00

Whole Trees Architecture in Wisconsin uses materials that lumber companies consider scrap – weed trees, also know as ‘managed forest thinnings’ to create rooms and furnishings that maintain the integrity of the wood/tree, look beautiful, and are said to be stronger, structurally, than wood planks. The results are beautiful displays of locally sourced and sustainably managed materials.

Photo: Whole Trees Construction and Architecture

New Landscape Rating System Released

2009-11-17T17:12:00.000-06:00

A partnership of the American Society of Landscape Architects (ASLA), the Lady Bird Johnson Wildflower Center at The University of Texas at Austin and the U.S. Botanic Garden today released the nation's first rating system for the design, construction and maintenance of sustainable landscapes, with or without buildings.

The Sustainable Sites Initiative led by the partners developed the rating system out of four years of work by dozens of the country's leading sustainability experts, scientists and design professionals, as well as public input from hundreds of individuals and dozens of organizations, to create this missing link in green design. The announcement took place at the U.S. Botanic Garden in Washington.

"While carbon-neutral performance remains the holy grail for green buildings, sustainable landscapes move beyond a do-no-harm approach," said Nancy Somerville, executive vice president and CEO of ASLA. "Landscapes sequester carbon, clean the air and water, increase energy efficiency, restore habitats and ultimately give back through significant economic, social and environmental benefits never fully measured until now."

"We are facing unprecedented environmental challenges such as water scarcity and climate change that require fundamental changes in the way that we interact with the land," said Susan Rieff, executive director of the Lady Bird Johnson Wildflower Center. "This voluntary rating system and guidelines cover all aspects of working with outdoor spaces of all sizes, and provide information for designing landscapes that go beyond beauty to actually improving ecosystem health and the health of communities for generations to come."

"Landscapes can give back," said Holly H. Shimizu, executive director of the United States Botanic Garden. "We believe that as these guidelines become widely used, not only will they be as transformative to the landscape industry as LEED was to buildings, but more than that, they will allow built landscapes to be regenerative like natural landscapes, and assist in mitigating some of the most pressing environmental issues we face today. We need to acknowledge our landscapes' value, treasure them and cultivate them sustainably and responsibly. The need is urgent, the time is now and these guidelines, when used correctly, are the tools."

The rating system works on a 250-point scale, with levels of achievement for obtaining 40, 50, 60 or 80 percent of available points, recognized with one through four stars, respectively. If prerequisites are met, points are awarded through the 51 credits covering areas such as the use of greenfields, brownfields or greyfields; materials; soils and vegetation; construction and maintenance. These credits can apply to projects ranging from corporate campuses, transportation corridors, public parks and single-family residences. The rating system is part of two new reports issued from the Initiative, "The Case for Sustainable Landscapes and Guidelines" and "Performance Benchmarks 2009," both available for download at http://www.sustainablesites.org/.

To test the rating system, the Sustainable Sites Initiative opened a call for pilot projects in conjunction with the release of the rating system. Any type of designed landscape is eligible, so long as the project size is at least 2,000 square feet. The call will remain open until Feb. 15, 2010, and the initiative will work with and oversee the projects during the two-year process. More information about the pilot projects is available at www.sustainablesites.org/pilot.

Happy Veteran's Day

2009-11-11T10:46:00.000-06:00

Thanks to our American veterans for your service to our country. Please call my lending division at 214-361-1191 or click here to learn more about the VA loan program.

Tax Credits, Foreclosures Likely to Affect Winter RE Market

2009-11-09T10:19:00.000-06:00

Foreclosures Expected to Significantly Increase Inventory in 2010, But Possible Tax Credits Could Help Spur Demand, According to Q3 2009 Zillow(R) Real Estate Market Reports

Editor's Note: Data for Dallas/Fort Worth and the state of Texas were not included in this study...I don't know why. I'm including the report, though, to show that home values appear to be stabilizing across the country. You can read the entire study here.The percent of American single-family homes with mortgages in negative equity fell to 21 percent in the third quarter, down from 23 percent in the second, as home values stabilized in the short term and more underwater homeowners lost their homes to foreclosure, according to the third quarter Zillow Real Estate Market Reports.

"The decline in the percentage of homeowners with negative equity is a positive sign, and is directly attributable to the stabilization of home values from the second quarter to the third," said Zillow Chief Economist Stan Humphries. "It is also attributable to many homeowners who were previously underwater on their mortgage losing their homes to foreclosure.

"The next several months will be critical to the housing market. Previously, we'd been expecting to see increasing foreclosure rates during the real estate market's slow winter season, a confluence of events that would likely drive inventory up and prices down. But now, with the extension of the $8,000 first-time homebuyer tax credit and a new $6,500 credit for some repeat homebuyers, we could see a bump in demand that could partially offset the increased supply of foreclosed homes on the market. The credits are likely to bring continued stabilization in prices over this period, versus the price declines that we almost certainly would see otherwise. Whether this stabilization will be sustainable after the tax credits expire, however, is yet to be seen. Some of the demand that we are buying with tax credits we are also borrowing from the future, and will likely have to pay for later in the form of weaker-than-normal demand."

SOURCE Zillow.com

Homebuyer Tax Credit Extension/Expansion

2009-11-06T09:55:00.001-06:00

Today, President Obama is expected to sign the 2010 homebuyer tax credit extension, which will extend the current $8,000 tax credit for married couples on binding contracts written by April 30, 2010, and closed by July 1, 2010.

Current homeowners selling their current home and buying another principal residence can receive up to $6,500 in tax credit, so long as they used their current home as a principal residents consecutively for 5 of the previous 8 years..

There are income and purchase price limits to eligibility, so please review this link from the National Association of REALTORS Government Affairs Division for details. As always, you're always welcome contact me for further information.

Homebuyer Tax Credit Update

2009-11-05T16:56:00.000-06:00

The U.S. House and Senate have both passed the law containing the amendment to extend and expand the home buyer tax credit. President Obama is expected to sign the bill tomorrow (Friday, Nov. 6)

Check back for details about the extension on Friday!

Picturesque Prestonwood

2009-11-04T11:58:00.000-06:00

During a photo safari of Prestonwood this morning, I was once again reminded what a lovely area this is--even in the fall.

all photos copyright Brava Realty

Still No Vote on Homebuyer Tax Credit Extension

2009-11-03T10:47:00.000-06:00

Contrary to what you might have heard through the grapevine, as of this writing, Congress still has not voted on proposals to extend or expand the tax credit for homebuyers.

“I think the first-time home-buyer credit is a great example of funding that’s helped to stabilize the housing market and should be extended,” Jared Bernstein, chief economist to Vice President Joe Biden, said on Bloomberg television. Treasury Secretary Timothy Geithner gave his support yesterday.

Lawmakers announced plans last week to attach the tax-credit proposal to a pending bill on the unemployment benefits. The $8,000 tax credit, enacted earlier this year as part of the $787 billion economic stimulus package, is set to expire at the end of November.

The proposal would extend the credit until April 30 and expand it to allow higher-income Americans and some who already own homes to qualify for the break.

Homebuyers who have lived in their prior residences for at least five years may receive a credit of $6,500 under the plan, said Senate Finance Committee Chairman Max Baucus. Also, couples earning as much as $225,000 and individuals as much as $125,000 would qualify for the extended break, Baucus said. That’s up from a $75,000 limit for individuals and $150,000 for couples.

“The success of the American economy is closely tied to the success of the housing market; by helping to stabilize the housing market, the homebuyer tax credit has helped to shore up the economy as it begins to recover,” said Baucus, a Montana Democrat. “This would enable an even greater number of potential homebuyers to take the credit.”

Lawmakers said they want to prevent home sales from slipping as the economy struggles to recover from the worst drop in home prices since the Great Depression.

More than 1.2 million borrowers have claimed $8.5 billion of the $13.6 billion set aside for the homebuyer tax credits this year, according to the Treasury Department. The Obama administration, in endorsing the extension yesterday, said the credit has helped stabilize the nation’s housing market.

The tax break “brought new families into the housing market and contributed to three consecutive months of rising home prices,” Geithner said in a statement.

The measure would require those receiving the tax break to remain in their new homes for three years and they would have to repay the credit if they don’t.

Those buying homes worth more than $800,000 wouldn’t be eligible for the credit, said Baucus. Lawmakers also said they won’t extend the break beyond the new April 30 deadline.

“The American people should understand this -- and the affected industries -- this is the last extension,” said Senator Johnny Isakson, a Georgia Republican who cosponsored the plan. “Tax credits like this only work by creating the sense of urgency to take advantage of them.”

Election Day 11/3 Vote FOR Props 2, 3, 5

2009-11-02T10:27:00.001-06:00

Across the state, tomorrow’s ballot will include eleven propositions for amendments to the Texas state constitution. These proposed amendments must be approved by Texas voters in order to become law. It is important that we each understand the issues and process for amending our state constitution. These are important to homeowners, so please vote!

To ensure that tax appraisals in Texas are fair to property owners and uniform from county to county, the Texas Association of REALTORS urges Texans to vote FOR propositions 2, 3, and 5.

Here are brief explanations of what these amendments will actually do:

Proposition 2 will require county appraisal districts to value a home as a home. Currently, appraisal districts can use the "best and highest use" method to value a residence based on its potential use. For example, a residence in a neighborhood zoned for mixed use could be appraised at a higher amount for its possible use as a commercial property.

Proposition 3 gives the state the ability to make sure appraisal methods are consistent throughout the 254 Texas counties.

Proposition 5 will make it acceptable for two adjoining appraisal districts to combine their boards of equalization if they wish—an option that rural counties may find attractive.

For brief layman's explanation of these propositions written by an attorney from Texas Association of REALTORS, please click.

Here is an overview of all 11 proposed amendments from the Texas Legislative Council.

It's National Candy Corn Day!

2009-10-30T11:59:00.001-05:00

Learn all about candy corn from this previous blog post...

Frankenstein - Free EBook

2009-10-29T08:42:00.000-05:00

Mary Shelley's Frankenstein.

Snow Queen Bedroom

2009-10-28T11:26:00.001-05:00

Better Homes and Gardens' website has a fun application for testing color combinations in virtual rooms. In the spirit of the Halloween season, I first tried different combinations of black, orange, brown and yellow, but something was amiss. I then decided that artwork should inspire the project, and I chose this illustration by Ernie Kwiat as my guide. Here is the finished project. Try your own designs and email them to me. I'll post your links here!

Bram Stoker's Dracula - Free EBook

2009-10-26T11:28:00.000-05:00

Click to read Dracula through Project Gutenberg

Doggy Judogi, or Shih-Jitsu!

2009-10-24T09:58:00.004-05:00

Two canine pals of mine, Scooter and Baxter, emailed this recent photo. Do not let their adorable puppy dog exterior deceive you; however, as they are highly skilled martial arts warriors!

Fear not, Uptown Dallasites, for Scooter and Baxter will protect you from Halloween hijinx!

photo courtesy Sophia Young

They remind me of another ancient canine martial arts legend...

It's Saturday Night.....Night....night...night

2009-10-22T09:22:00.001-05:00

Everyone who grew up near Pittsburgh in the '60s or '70s will remember Saturday nights spent munching pizza and sipping POP while watching Chiller Theater. It was low budget, campy, and the best! Host Chilly Billy Cardille (pronounced car-dilly) is still popular and chilly after all these years. He's also immortalized in his role as the TV reporter in "Night of the Living Dead," which was filmed entirely in Western Pennsylvania.

Trivia: I met Mr. Cardille in New Castle, Pa., circa 1979 at a charity haunted house in Cascade Park.

I obviously missed this memo...

2009-10-20T11:28:00.000-05:00

RIP Vic Mizzy, Addams Family Theme Composer

2009-10-20T08:47:00.000-05:00

The legendary Vic Mizzy died on October 17 at the age of 93. In addition to having one of the coolest names ever, Mr. Mizzy was known for his numerous television and movie theme compositions. Most notable was his finger-snapping theme to "The Addams Family," for which he also provided vocals.

We can also thank Mr. Mizzy for the themes to "Green Acres," "Petticoat Junction" and several Don Knotts movies. My favorite theme of his Knotts films is "The Ghost and Mr. Chicken." I dare you to listen and not be taken immediately back to carefree childhood memories of Saturday afternoon cinema and silly sitcom reruns!

Visit Munster Mansion!

2009-10-19T17:05:00.001-05:00

Waxahachie is home to a replica of 1313 Mockingbird Lane, the address of the Munsters. Munster Mansion was designed and built by Charles and Sandra McKee based on the television series. Drive by visitors are welcome any time (just stay outside the fence), and the home is open each Halloween for a charity event. This year's event benefits Meals on Wheels and will be held from 7-12 pm on October 30 and 31, and Pat Priest aka "Marilyn Munster" from the TV series will be there to sign autographs. And yes, the McKees believe their home really is haunted.

What's A Stigmatized Property?

2009-10-15T12:15:00.000-05:00

Should you tell a prospective buyer if you think your property is haunted?

According to the National Association of REALTORS, a property is stigmatized when it has been "psychologically impacted by an event, which occurred or was suspected to have occurred on the property, such event being one that has no physical impact of any kind."

Texas Property Code requires that sellers and real estate professionals have a responsibility to make proper disclosures regarding the condition of the property. But does duty to disclose go beyond physical condition?

Sellers and real estate professionals have no duty to disclose or inquire as to AIDS/HIV-related illness, deaths that occurred on the property by natural causes, suicides or accidents unrelated to the condition of the property. But what about ghosts?

The Deceptive Trade Practices Act says that failure to disclose known information is a false, misleading, or deceptive act if doing so is intended to induce the consumer into a transaction he or she would not have entered had the information been disclosed. The Act does NOT limit the information to the condition of the property.

So, if you think your home is stigmatized, you should make this disclosure. Always consult a real estate attorney for the best advice. When it doubt...Disclose!
Source: Texas A&M Real Estate Center April 2001 Letter of the Law, Judon Fambrough

McKinney Ghost Walk

2009-10-13T10:59:00.001-05:00

Interested in some spooky Halloween fun for the family? Take the McKinney Ghost Walk to learn about haunted places around Chestnut Square. Click here for more information!

Movie Review - Paranormal Activity

2009-10-12T10:25:00.000-05:00

A new movie release, particularly around Halloween, is an event! On Sunday, I attended a matinee of "Paranormal Activity" at NorthPark AMC. This is not a slasher or monster flick. The filmmakers rely on the audience's anticipation of what will happen when the lights go out. If you dig spectacular special effects, this might not be a film for you. It's organic. Imagine an extended, homemade YouTube video (the one with the maze where Linda Blair pops out) or the "Blair Witch Project." It was worth the price of a matinee admission, if only to watch the audience's reactions. Although I didn't find it particularly scary at the time, I must admit I was slightly spooked at bedtime!

Happy Birthday, John Lennon

2009-10-09T07:15:00.002-05:00

John Lennon would have been 69 years old today. Imagine.

Sketch by Ernie Kwiat. From the K Baugh Collection.