Saturday, May 2, 2009
Help for Homeowners
Just in case you've missed this link on my website, here is information to help you determine if you are eligible for help with your mortgage. click link
In my inbox today
REALTOR Magazine-Daily News-Housing Analysts Predict the Bottom Is Near
In this article, the consensus is that we've not hit bottom yet, but should by the end of 2009 or beginning of 2010.
REALTOR Magazine-Daily News-Senate Defeats Mortgage Cramdown Bill
On the surface, this is a blow for folks facing foreclosure and/or bankruptcy. However, in my humble opinion, it was going to have not so fair consequences for those homeowners who ARE making payments on their committments. Consider how a cramdown will actually lower property values long-term and then more homeowners can end up upside-down in mortgages, leading to more foreclosures, yada yada. Also consider the bond market where even small investors, like you and me, are affected because the bond we bought is de-valued because the property is artificially de-valued--where did my savings go?
In this article, the consensus is that we've not hit bottom yet, but should by the end of 2009 or beginning of 2010.
REALTOR Magazine-Daily News-Senate Defeats Mortgage Cramdown Bill
On the surface, this is a blow for folks facing foreclosure and/or bankruptcy. However, in my humble opinion, it was going to have not so fair consequences for those homeowners who ARE making payments on their committments. Consider how a cramdown will actually lower property values long-term and then more homeowners can end up upside-down in mortgages, leading to more foreclosures, yada yada. Also consider the bond market where even small investors, like you and me, are affected because the bond we bought is de-valued because the property is artificially de-valued--where did my savings go?
Thursday, January 29, 2009
Good news from the Austin Business Journal
I'm trying to make it a daily habit to check the local business journal online, and today there was some good news indeed. Texas has been awarded funds to help first-time homebuyers and homeowners in trouble with a foreclosure event.
For the record, if you are facing foreclousure, please call the HOPE Hotline: 1-888-995-HOPE. The sooner you call the better these great folks can help you.
To read the Austin Business Journal article about funds to help with foreclosures, click here.
To read the Austin Business Journal article about funds to help first time home buyers, click here. To go to the www.MyFirstTexasHome.com site, click the link.
For the record, if you are facing foreclousure, please call the HOPE Hotline: 1-888-995-HOPE. The sooner you call the better these great folks can help you.
To read the Austin Business Journal article about funds to help with foreclosures, click here.
To read the Austin Business Journal article about funds to help first time home buyers, click here. To go to the www.MyFirstTexasHome.com site, click the link.
Saturday, January 17, 2009
PantRy Moths
I inadvertently posted on Facebook that I was fighting panty moths...boy did I open myself up to some friendly ribbing. Yeah, funny.
Not so funny is dealing with these pesky critters (the pantry variety, of course). Somehow, over a year ago, we became hosts to some cute little moths. Little did I know that much later, these unwelcome guests would just not leave!
My house is not immaculate, but we are not total slobs, and I really insist on a clean kitchen. Surfing the web a year ago, I found no information about these pests, but last weekend, I found lots of posts about them. Mostly, I find that their presence has nothing to do with how clean (or not clean) you keep your house and kitchen. It all depends on how you treat food items entering your home, namely grains.
But first, you want to rid your home of the critters already visiting. Off and on, I've emptied out cupboards, wiped everything down, and thrown out a lot of food. I've even taken a toothpick to scrape the nasty larva from the holes drilled into my pantry shelving. Gross!
Recently I became the proud owner of a steam machine for cleaning floors and tile. Either my husband or I came up with the brillant idea to put this machine to work to help get rid of the pantry moths. After removing all food from our pantry, and throwing most of that away, I vacuumed out all shelves. Next, I used the steam machine to blast steam into all cracks, crevices, and holes. This caused a lot of gunk to come out of those holes. Did I already say gross? After wiping all this debris away, I used the steamer with a flat head to go over all flat surfaces in hopes of killing any little eggs I could not see. I wiped it all down again, mostly to wipe away moisture. Next, I poured a bit of pennyroyal oil into a throw-away cup and using a Q-tip dipped in the oil, poked the Q-tip into each and every hole and crevice in the pantry. CAUTION: Pennyroyal oil is extremely toxic if you ingest it! I used a throw away cup so that there is no chance of ingesting this stuff. Pennyroyal oil is a natural substance, but even natural substances can kill you. Do not ingest it, nor do you want your pets or kids to get into it.
My reason for using pennyroyal oil is that I hope that this keeps the moths away.
It's been a week since I did this giant job--it took about 12 hours. This week, there have been fewer moths in my house, and they are moving slower. In another week or so, if we have fewer (or no) moths, I am ready to start buying flour and other grains.
Here's what I've read online that I need to do when I bring grains back into the house. First, the product needs to sit in my freezer for at least 24 hours to kill any eggs that may already be inside the packaging--how gross! But if I do this, in theory I should not be bringing more moths into my house.
I hope nobody reading this ever has to wake up to these critters. And I hope my method will work. I'll let you know....
Not so funny is dealing with these pesky critters (the pantry variety, of course). Somehow, over a year ago, we became hosts to some cute little moths. Little did I know that much later, these unwelcome guests would just not leave!
My house is not immaculate, but we are not total slobs, and I really insist on a clean kitchen. Surfing the web a year ago, I found no information about these pests, but last weekend, I found lots of posts about them. Mostly, I find that their presence has nothing to do with how clean (or not clean) you keep your house and kitchen. It all depends on how you treat food items entering your home, namely grains.
But first, you want to rid your home of the critters already visiting. Off and on, I've emptied out cupboards, wiped everything down, and thrown out a lot of food. I've even taken a toothpick to scrape the nasty larva from the holes drilled into my pantry shelving. Gross!
Recently I became the proud owner of a steam machine for cleaning floors and tile. Either my husband or I came up with the brillant idea to put this machine to work to help get rid of the pantry moths. After removing all food from our pantry, and throwing most of that away, I vacuumed out all shelves. Next, I used the steam machine to blast steam into all cracks, crevices, and holes. This caused a lot of gunk to come out of those holes. Did I already say gross? After wiping all this debris away, I used the steamer with a flat head to go over all flat surfaces in hopes of killing any little eggs I could not see. I wiped it all down again, mostly to wipe away moisture. Next, I poured a bit of pennyroyal oil into a throw-away cup and using a Q-tip dipped in the oil, poked the Q-tip into each and every hole and crevice in the pantry. CAUTION: Pennyroyal oil is extremely toxic if you ingest it! I used a throw away cup so that there is no chance of ingesting this stuff. Pennyroyal oil is a natural substance, but even natural substances can kill you. Do not ingest it, nor do you want your pets or kids to get into it.
My reason for using pennyroyal oil is that I hope that this keeps the moths away.
It's been a week since I did this giant job--it took about 12 hours. This week, there have been fewer moths in my house, and they are moving slower. In another week or so, if we have fewer (or no) moths, I am ready to start buying flour and other grains.
Here's what I've read online that I need to do when I bring grains back into the house. First, the product needs to sit in my freezer for at least 24 hours to kill any eggs that may already be inside the packaging--how gross! But if I do this, in theory I should not be bringing more moths into my house.
I hope nobody reading this ever has to wake up to these critters. And I hope my method will work. I'll let you know....
Thursday, January 8, 2009
January news
New home starts seems to be down, which could be a good thing for those of us with resale listings. I find that my biggest competition for one particular listing is that it is in a newer neighborhood where new homes are still going in. My listing has to compete with brand new builder homes that the builder can slash prices on to get sold. For instance, I just learned of a closing on a new home identical to my listing, with lots of upgrades, that sold for lower than my listing price. My seller's next move was to lower the listing price--who can compete?
Well, here is an article I came across this morning:
2009 Austin home starts projected to be less (Housing, Austin-Round Rock, 1/7/2009) The Austin-area housing market took a big hit last year, and more pain is in store for 2009, according to Eldon Rude, director of the Austin market for the market research firm Metrostudy. Austin-area... (read more)
And good news is that Austin companies created 6200 private sector jobs last year. Here's that story.
Well, here is an article I came across this morning:
2009 Austin home starts projected to be less (Housing, Austin-Round Rock, 1/7/2009) The Austin-area housing market took a big hit last year, and more pain is in store for 2009, according to Eldon Rude, director of the Austin market for the market research firm Metrostudy. Austin-area... (read more)
And good news is that Austin companies created 6200 private sector jobs last year. Here's that story.
Tuesday, December 30, 2008
An Eye Opener
I get email updates from a couple of mortgage brokers weekly. Earlier this week, I had one from Carrie Hundley with Colonial Bank, and she included a link to Mortgage Success Source. I've included the link here because there is an eye-opening video explanation of the roots of this financial crisis we are experiencing.
Tuesday, November 11, 2008
Starting Out
I'm new to the real estate game, since this past summer, and I'm on a steep learning curve so far. There is so much to learn about: software, boards, legal and ethical issues, affordable housing, rules, people, yada yada yada.
And what an exciting time to be starting out in this field, right? Part of what adds to the learning curve is that the game is changing daily. There is the whole sub-prime lending facet that has changed our economy not just on a national scale, but world-wide. And although the sub-prime lending is just a small part of what is going on, really, it has affected our nation's solvency and affected how to and who can get lending dollars anymore.
Okay, I do not really understand the whole sub-prime lending thing.
What I do understand is that people were getting creative in financing things, and the banks and lenders let them do it. Sort of like those pyramid schemes, I think, where nobody is really owning anything or making any money except for the shady character at the top of the pyramid. I envision a house of cards where nothing is really holding the whole thing together and a really light breeze will bring it crashing down.
So is it a bad thing that lending practices have tightened? Not really. Do you have to be more responsible when borrowing money? Absolutely--and shouldn't the average Joe have already been more responsible? And clearly, the average Joe had no illusions about what he/she could borrow and pay back over time. Hopefully, these changes will prevent Joe from getting in over his/her head.
But I think it all comes down to being realistic and honest. Reality and honesty to understand our home finances, and living within our means.
Just because that loan officer approves you for a $300,000 loan does not mean you should buy that $300,000 house.
I read a book this summer by Robert Kiyosaki, Rich Dad Poor Dad. He talks about building wealth by acquiring cash flowing assets, mainly real estate. But a bigger lesson I took from his book is about living within your means. He points out that the typical American dream of owing your own home and making that home your main savings asset is a dangerous situation. The events of the past year surely highlight this point. He also cautions against the concept of trading up your home as a way to increase wealth. He points out that with the higher mortgage that likely results from the trade up, you probably increase your insurance and property tax fees. This move into the bigger more expensive house actually ends up robbing you by making less money available to you to use for other wealth-building activities. Wow!
And what an exciting time to be starting out in this field, right? Part of what adds to the learning curve is that the game is changing daily. There is the whole sub-prime lending facet that has changed our economy not just on a national scale, but world-wide. And although the sub-prime lending is just a small part of what is going on, really, it has affected our nation's solvency and affected how to and who can get lending dollars anymore.
Okay, I do not really understand the whole sub-prime lending thing.
What I do understand is that people were getting creative in financing things, and the banks and lenders let them do it. Sort of like those pyramid schemes, I think, where nobody is really owning anything or making any money except for the shady character at the top of the pyramid. I envision a house of cards where nothing is really holding the whole thing together and a really light breeze will bring it crashing down.
So is it a bad thing that lending practices have tightened? Not really. Do you have to be more responsible when borrowing money? Absolutely--and shouldn't the average Joe have already been more responsible? And clearly, the average Joe had no illusions about what he/she could borrow and pay back over time. Hopefully, these changes will prevent Joe from getting in over his/her head.
But I think it all comes down to being realistic and honest. Reality and honesty to understand our home finances, and living within our means.
Just because that loan officer approves you for a $300,000 loan does not mean you should buy that $300,000 house.
I read a book this summer by Robert Kiyosaki, Rich Dad Poor Dad. He talks about building wealth by acquiring cash flowing assets, mainly real estate. But a bigger lesson I took from his book is about living within your means. He points out that the typical American dream of owing your own home and making that home your main savings asset is a dangerous situation. The events of the past year surely highlight this point. He also cautions against the concept of trading up your home as a way to increase wealth. He points out that with the higher mortgage that likely results from the trade up, you probably increase your insurance and property tax fees. This move into the bigger more expensive house actually ends up robbing you by making less money available to you to use for other wealth-building activities. Wow!
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