When Your Relo Client is Yourself

As a Realtor, one of the things I specialize in is relocating individuals, families, and others, from across the country to Dallas/Fort Worth, Texas. I assist them with their transition from "there" to "here", ensuring that it go as smoothly as possible, with as little stress as possible. In addition to my client's real estate needs, I do my best to handle most, if not all, of the little details that my relo clients might forget or not think about during that stressful time that is known as relocating. From utilities to public transportation to school attendance zones, I make sure that no stone is left unturned.

But what is a Realtor to do when faced with the task of relocating himself or herself to an unfamiliar area? That is something I must determine, as I will be relocating from Dallas to Houston in August or September 2007. I know nothing about the area, so suggestions from other Realtors are greatly appreciated.

If ever I could relate to my client's concerns, reservations, and fears, it is now. So if anyone has some feedback or input, please let me know. Thanks!

New HUD Sales Incentive Program

The U.S. Department of Housing and Urban Development (HUD) has announced a new Sales Incentive Program for Owner Occupants beginning December 8, 2006. Designed to increase opportunities for homeownership over the Holiday Season, the ''FHA Brings the Holidays Home'' campaign is designed to assist low- to moderate-income families by offering special incentives on the sale of HUD-owned single-family homes across the country.

During the December 8, 2006 – January 5, 2007 sales event, homebuyers who purchase a HUD-owned home and finance the purchase with an FHA-insured loan are entitled to new sales incentives. Homebuyers must sign an Owner Occupant Certification that they intend to occupy the property as their primary residence for at least 12 months and must not currently have an FHA-Insured Mortgage. The incentives are:

*$2,500 Holiday Home Improvement Allowance
*$500 Selling Broker Bonus
*Minimum Required Downpayment of Only $100

The incentives may not be combined with other HUD discount sales. In addition, certain exclusions may apply.


For more information about the new Sales Incentive Program for Owner Occupants, call 1-800-CALL-FHA or click here to view HUD’s information: "FHA BRINGS THE HOLIDAYS HOME WITH A SPECIAL HOMES SALES EVENT"

Provided by Bidselect.com, December 10, 2006

Women Pay More for Home Loans, Study Finds

A new study by the Consumer Federation of America found that in 2005, about a third of women took out mortgages with interest rates over 7.66 percent (well above the average prime mortgage rate of 5.87 percent) compared with about a quarter of men.

The study, which examined 4.4 million mortgage originations throughout the country where borrowers identified by their gender, also found that women with high incomes were 46.4 percent more likely than men with comparable incomes to have the more expensive mortgages.

Although women earning below the area median income were 8 percent more likely to receive subprime loans than similarly earning men, women earning more than double the area median income were 50 more likely to receive subprime loans than men with similar earnings.

Critics say the research suggests that lenders are taking more than stated risk factors into consideration.

“The high levels of subprime lending among women compromise their ability to steadily accrue equity by paying off their mortgage – one of the easiest and most effective pathways to building wealth in America,” said Nancy Register, Associate Director of Consumer Federation of America and National Director of America Saves, a social marketing campaign to encourage lower- and moderate-income households to save and build wealth.

California Mortgage Bankers Association spokesman Dustin Hobbs defended the lending practices of the industry, stressing that Home Mortgage Disclosure Act data cannot explain everything. "It will show there is a disparity but not why there is a disparity," says Hobbs.

Source: Consumer Federation of America; Inside Bay Area, Eve Mitchell (12/08/06)

Low-Cost and No-Cost Ways to Save Energy

Did you know that the typical U.S. family spends more than $1,600 a year on home utility bills?

Unfortunately, a large portion of that energy is wasted. Electricity generated by fossil fuels for a single home puts more carbon dioxide into the air than two average cars. And as for the road, transportation accounts for 66% of all U.S. oil consumption. The good news is that there is a lot you can do to save energy and money at home and in your car.

- Set your thermostat comfortably low in the winter and comfortably high in the summer.

- Install a programmable thermostat that is compatible with your heating and cooling system.

- Use compact fluorescent light bulbs.

- Air dry dishes instead of using your dishwasher's drying cycle.

- Turn off your computer and monitor when not in use.

- Plug home electronics, such as TVs and DVD players, into power strips; turn the power strips off when the equipment is not in use, as TVs and DVDs in standby mode still use several watts of power.

- Lower the thermostat on your hot water heater to 120°F.

- Take short showers instead of baths.

- Wash only full loads of dishes and clothes.

- Drive sensibly. Aggressive driving (speeding, rapid acceleration and braking) wastes gasoline.

- Look for the ENERGY STAR® label on home appliances and products. ENERGY STAR products meet strict efficiency guidelines set by the U.S. Environmental Protection Agency and the U.S. Department of Energy.

Preventing the Most Common Insurance Claims

In 2005, the most common property claims reported to Nationwide® were related to:

1. Wind
2. Water damage (non-weather related)
3. Lightning
4. Theft
5. Water damage (weather related)
6. Ice – sleet – snow
7. Hail
8. Fire
9. Other physical damage
10. Liability and medical payments.

If you’re buying a new home or preparing your home for sale, here are a few simple things to help you reduce the likelihood of a claim, lower costs and keep you safe.

Trees: Inspect trees near your home for health. And make sure they are not growing too close to your roof. If in doubt, have a bonded, licensed and insured arborist examine them.

Roof: Make sure your roofing shingles and flashing are in good condition. Broken or discolored shingles may need to be replaced.

Gutters: Clean, level gutters are a sign of good roof maintenance. Make sure that down spouts deliver gutter water away from your foundation.

Siding: If your home has aluminum or vinyl siding, inspect it for missing pieces or disjointed interlocks. Also, make sure it fits flush to your home.

Foundation: Check your house’s foundation a few times a year for cracks and other signs of settling.

Deck: Check your deck or porch for signs of age including wobbliness, splintering or warping of planks and exposed nail heads.

Garage: Inspect your garage floor for evenness. If you have an electric garage door, check the obstacle sensor to make sure it’s operating properly. Install a carbon monoxide sensor and test it periodically.

Plumbing: Consider having a professional plumber inspect all pipes, fixtures and water heaters. Sinks and tubs should drain rapidly. Any pipes in the crawl space or basement should be properly insulated to prevent bursting during a freeze.

Weather-strips and Caulking: All windows and doors should have weather seals properly fitted. Caulking around tubs, toilets and sinks should not be excessively dried or cracked.

Electrical Outlets: Verify that your electrical receptacles have faceplates and are properly grounded. Outdoor, bathroom and kitchen outlets should be equipped with ground-fault circuit interrupter outlets.

Smoke Alarms: Be sure to have at least one smoke alarm per floor. Test each regularly. Some smoke alarms can be linked so that people on one floor are alerted if there is smoke detected on another floor.

Security: All doors accessible to the outside should have deadbolts or similar locking systems. Keep track of all house keys. Make sure spares are in a secure location – not under a flowerpot or doormat. Consider enrolling in a subscription-based security monitoring program.

Get Flood Insurance: Many people live in a potential flood zone! However, flood damage is often not covered by traditional insurance policies. Purchase flood insurance from a trusted insurance partner participating in the National Flood Insurance Program.

Keep these tips in mind when moving in or moving out. Because preparing for the unexpected can help protect you from the unimaginable.

Provided by:
Nationwide Insurance & Lowes