Homes for Heroes Program

I am proud to say that I am a member of the Homes for Heroes program. Being a member of the program is a wonderful way for me to give back to the men and women who work so hard to give their all to the community. The program is open to police officers, firefighters, anyone in the military (including reserves), hospital personnel, and even educators.

If you would like to reap the benefits of this program and are in the Greater Houston area, please contact me at 281-387-8805 or, if you are located outside the Houston area, visit the Homes for Heroes website.

Some Buyers Still Don't Know What a Buyer's Agent Is?!

I have had the privilege of working 2 real estate markets - Dallas and Houston. To my amazement, there are so many buyers in the Houston area who either don't know what a Buyer's Agent is or simply don't care. It was only after obtaining listings that I found out that so many buyers out there call the listing agent to see property, rather than obtaining their own agent ... this was not the case in Dallas, where I only occasionally received calls from buyers interested in viewing one of my listings, and if I did, I quickly converted them to a buyer who worked solely with me.

So I'm wondering ... is it that buyers in Houston aren't aware of what a Buyer's Agent is, or again, do they simply not care and wish to cut out any "middle man" (the Buyer's Agent)?

I'm still trying to figure this one out!!

Random Acts of Stupidity

Why is it that buyers insist upon calling several Listing Agents when searching for a home, rather than working with one Buyer's Agent? It doesn't cost the buyer anything to have someone represent him/her, someone that he/she feels comfortable with and trusts. I realize that not everyone is aware of buyer representation, but most people are aware that it exists. I have worked with buyers who had no problem picking up the phone and calling a Listing Agent in order to see a home or ask questions, even though they know we have an exclusive agreement to work with one another. I have even had buyers call me and ask for information about a particular property, then two sentences later, they tell me that they are currently working with an agent, under a signed agreement for representation. After confirming what I thought I had heard, they go a step further and tell me that they "didn't want to bother their agent, as he/she is very busy". Excuse me?? Did I just hear what I thought I heard? Correct me if I'm wrong, but when that buyer closes on a house, isn't their agent getting paid a commission for providing a service to them? And they don't want to bother their agent, as their agent is busy? And what exactly does that imply, that I'm not very busy? I just sit around and wait for buyers to call with questions that they really should be directing to their agent, right? Not even! So, can someone clarify this for me, please . . . so, it's not okay to call your agent to ask some questions about a particular property because he/she is very busy, in spite of the fact that he/she will get paid at some point in the near future, right? BUT it is okay to randomly call some other agent, who is also very busy and ask questions about a property, knowing that this other agent will not be getting paid because you made it to the closing table, correct?

Can someone shed some light on this for me, please??

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)

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

Home Builder's Incentives

Thanksgiving Day my husband, Chris, and I decided to drive to Houston to check out some area home builders and find out what, if any, incentives they were offering (both buyer and Realtor incentives). What we found were a few nice floor plans, a handful of knowledgeable and polite sales representatives, a handful of inept and/or unprofessional sales reps, miserly incentives, and inflated prices just about everywhere we went. Why do new homes cost so much more in the Houston area than they do in the Dallas Metroplex? And why are the builders so stingy with their buyer and Realtor incentives? And what is up with those detached and/or tandem garages?

Build a Plan of Action Before Searching for a Home

Buying a home will probably rank as one of the biggest personal investments one can make. Being organized and in control will contribute significantly to getting the best home deal possible with the least amount of stress. Is important to anticipate the steps required to successfully achieve one's housing goal and to build a plan of action that will get you there. Before building a plan of action, take the time to lay the groundwork for your personal decision making process.

First, ask yourself how much you can afford to pay for a home. If you're not sure on the price range, find a lender and get preapproved. Preapproval will let you know how much you can afford so that you can look for homes in your price range. Getting preapproved helps you to alleviate some of the anxieties that come with homebuying. You know what you qualify for and what rate to expect, you know how large your monthly mortgage payments will be, and you know how much money you will have to put toward the down payment. Once you are preapproved, you avoid the frustration of finding homes that you think are perfect, but are not in your price range.

Second, ask yourself where you want to live and what is the best location for you and your family. Some things to consider are:

1. convenience for all family members
2. proximity to work, school
3. local transportation
4. proximity to retail and grocery stores
5. city and state parks that are nearby
6. types of homes in neighborhood, for example condominiums, town homes, new construction, existing homes

Before you know it, you will be ready to hit the ground running in your search for a new home!