March 2010

Is Your Credit In Order?

If you’re getting ready to buy a home, it’s a good idea to know your credit standing. Here are a few tips for evaluating, maintaining and restoring good credit:

• Don’t assume you have a great credit history just because of the continuous offers for revolving credit you receive in the mail.

• Don’t apply for more credit that you can manage.

• Make regular payments. Every time you make a payment as agreed to a creditor, you are building a favorable credit history.

• Late payments affect your credit rating. .

• Minimum payments are another trouble spot. While making the minimum payment is acceptable, it does very little to reduce your outstanding debt.

• Find out what your credit report says about you. To obtain a copy, contact credit-reporting agencies Experian, TransUnion or Equifax.

• To correct errors on your credit report, write to the credit card company and explain the error. If the creditor concurs that an error has occurred, the credit card company must report and correct the error to the credit-reporting agency.

• Fix bad credit. A professional financial counselor or a credit- and budget-counseling & restoration agency can really help.

Source: Michael Bradley, VA Military Mortgage

New Listing - 13900 Noel, Unit 21, Dallas, TX 75240

2 Beds | 2.1 Baths | 2 Car Garage | 1613 SF

Gorgeous executive townhome located adjacent to the Galleria in North Dallas. The gourmet kitchen has a huge island and breakfast bar, Stainless steel appliances, granite counters, tumbled marble backsplash, and lots of storage space. Cooks will love the gas range and workflow. The dramatic living and dining areas have oak hardwood flooring, recessed lighting, and a corner fireplace with gas logs. Step out onto the balcony and enjoy a glass of wine or simply relax. Enjoy the views of North Dallas and the Galleria. The large master suite has his-hers closets and the master bath has a garden tub, separate shower, granite vanity, and dual under-mount sinks. The office, study, or another living area is located on the same level adjacent to the master. The second bedroom is separated from the master and has a full bath.

Click here for more details.

Source: NTREIS

White House Looking To Cut Foreclosures

Tom Branch was interviewed as part of this story.

DALLAS (CBS 11 / TXA 21) ― Under pressure to head off the home foreclosure crisis, the White House launched a plan aimed at keeping residents in their homes. This would help cut into the nearly 223,000 Texans who lost their homes due to foreclosure last month, according to statistics on www.foreclosure.com.

Click here for the complete story and video.

Source: Bud Gillett - KTVT

The First Day of Spring 2010

Leave it to Texas weather! The first day of Spring rolled in today and it arrived with freezing temperatures and four inches of snow. The last day of winter was 77 degrees and we were able to take the motorcycle out for the first ride of the season. It just goes to prove the old saying, "If you don't like Texas weather, give it a couple of hours and it will change."

The photo shows the snowfall being cradled by the white blossoms of the Bradford Pear trees in our backyard in Plano.

Source: Tom & Gina Branch

New Listing - 613 Harvest Dr., McKinney, TX 75070

3 Beds | 2 Baths | 2 Car Garage | 1796 SF | Stonebridge Ranch

Well kept Darling home with hardwood floors in Stonebridge Ranch. Light and bright island kitchen with Silestone counters has breakfast bar and opens to living area. Hand sewn window coverings can stay. Master bath has jetted tub, separate shower, dual vanities, and walk-in closet. Open patio with mature trees in the backyard. Enjoy the many Stonebridge amenities including pools, parks, playgrounds, and beach club. Clean home ready for move in.

Click here for more details.

Source: NTREIS

New Listing - 1568 Bar Harbor, Dallas, TX 75232

4 Beds | 3.1 Baths | 2 Car Garage | 3903 SF | Golf Course & Creek Lot

Rare opportunity! Half-plus acre lot on the Oak Cliff Country Club. Large custom home with old-world craftsmanship. Solid walnut cabinets and paneling throughout. Stacked formals with built-ins. Large family room with wood-burning fireplace and wet bar. Master suite overlooks heavily treed yard, creek, and golf course. Secondary bedrooms share Hollywood full bath. Second master with full bath could be game room or large study. Loads of storage space.

Click here for more details.

Source: NTREIS

New Federal Program to Rescue Homeowners from Underwater Mortgages

Gina and Tom Branch were interviewed as part of this story

DALLAS, TX - New mother, Rosy Noorani, toured a McKinney home today that is up for sale. She says her growing family needs a larger house.

Noorani says because the homeowners recently reduced the home by about $125,000 and are willing to take less than they owe, that just might close the deal. "It was out of our price range, but not so much now".

That home is now selling under an old practice called, "short sale", but it is one the Obama Administration hopes to revive through a new program.

Home Affordable Foreclosure Alternatives or HAFA, is designed to help keep homeowners out of foreclosure by paying them to walk away. "These are not distressed properties, these are distressed homeowners and they are looking for help", says Dallas Realtor, Gina Branch.

Click here to read the entire story.

Source: Dawn Tongish - The 33 News

Be Prepared for Inspection Day

A Quick Guide for Sellers:

• Make sure all utilities are ON inside the home.

• Clear the areas around the electric panel, water heater, furnace and air conditioner to give Inspector full access.

• Unlock gates.

• Clear attic access and landing areas.

• Clear out closets to access crawlspace (under floor area).

• Leave the fireplace gas key on the mantle.

• Empty the dishwasher and oven.

• Make arrangements to secure or remove pets.

• Remove pet waste from the yard.

• Clean the swimming pool.

• Be prepared to leave the house for about 3–4 hours (varies).

Reducing Items on an Inspection Report – 12 Easy Fixes for Homeowners:

• Replace batteries in smoke detectors and/or install smoke detectors in each bedroom, hall and on each floor level.

• Replace missing or broken switch and outlet cover plates.

• Repair leaky faucets.

• Tighten loose doorknobs.

• Repair or replace exterior door weather stripping.

• Caulk doors and windows at the exterior brick/siding.

• Replace damaged or missing screens.

• Replace broken panes of glass in doors and windows.

• Replace burned-out light bulbs.

• Secure loose hand and stair railings.

• Patch holes and cracks in walls and ceilings, then repaint.

• Replace heating and air conditioning filters.

Source: Collin County Association of REALTORs® Affiliate Committee

Ask Chuck and George - Divorces and Deeds

Divorces and Deeds
Answers to real estate questions as appearing in the Houston Chronicle

Dear George: I'm divorced and, according to the divorce decree, entitled to the house. I've been paying the property taxes, but the deed to the house is in my name and my ex-husband's name. Do I need to change the deed? If so, how do I go about it? My ex-husband will likely not sign any papers to assist me.

Answer: If the divorce decree has conveyance language in it, you don't need another deed. Each title company has its own underwriting standards, so you may want to check with your title company before you contemplate selling the house. At worst, you'll have to go back to the court and modify the order or get an order requiring that your ex-husband sign the deed. Don't hesitate to shop title companies if you need to. Conveyance language in a divorce decree can take different forms, but it usually states something similar to the following:

It is decreed that the estate of the parties be divided as follows: Petitioner is awarded the following as petitioner's sole and separate property, and respondent is hereby divested of all right, title, and interest in and to such property: All property listed in Schedule A attached hereto and made a part hereof by reference.

In this case, you are the petitioner and your ex-husband is the respondent. Before you take any action, consult with your own attorney.

Source: Texas Association of REALTORs® (texasrealestate.com)

New Listing - 1600 Thistledown, Plano, TX 75093

3 Beds | 2.1 Baths | 2 Car Garage | 3410 SF | Pool & Spa

Large one-story home on a beautifully landscaped corner lot. The huge great room has a vaulted ceiling with skylights and a wall of windows looking out onto the patio and side yard. The spacious master retreat has a two-sided fireplace, private patio access, and a large walk-in closet with numerous built-ins. The master bath features a double steam shower and leads to the glass-enclosed spa room overlooking the sparkling diving pool and waterfall. The light and bright eat-in kitchen has a butcher block island, smooth cook top, and built in bench seating. Recent hardwood and tile flooring, 16-SEER HVAC with 10-year warranty, pool pump, and paint. Fantastic open floor plan and yard for entertaining.

Click here for more details.

Source: NTREIS

New Listing - 8921 Trailblazer, Crossroads, TX

3 Beds | 2 Baths | 2 Car Garage | 1896 SF

Clean and well kept Pulte home ready for move in. Laminate flooring in common areas and Berber carpet in all bedrooms. Two inch blinds throughout. The island kitchen has tile backsplash and opens to the living area with wood burning fireplace. The master bath has dual vanities and garden tub with separate shower. Large grassy backyard with open patio for entertaining. Enjoy community pools, playgrounds, fitness center, and stocked pond.

Click here for more details.

Source: NTREIS

Is Your Water Heater Out To Get You?

I found this post on another website. I recently had the hot water heater in my attic (I wonder why they put them there?) spring a leak and had some water damage to a ceiling and wall. I liked the idea so much, I contacted the author for permission to reblog it.

Is Your Water Heater Out To Get You?

Peace of mind is an important part of home ownership. And if you could buy a piece of this peace of mind for between $10 and $15, would you?

If I asked you right now if you knew if your water heater was leaking, would you? Without going to the basement and looking? Most of us don't know if water is intruding into our home until it is too late. Water damage from a burst water heater, overflowing sink or washing machine, or failed sump pump can cost thousands.

But there's a good solution -- an inexpensive, battery operated leak detector. Put one of these (some are self contained, some have a remote water sensor) near your potential water intrusion area -- a hot water heater, a washing machine, a sump pump, etc. It unobtrusively sits there until it senses water (most are usually activated with as little as 1/32 inch of water). Then it sounds a loud alarm to let you know when the problem starts.

Most water issues do not start as a deluge. They start as a trickle. A hot water heater won't usually explode it's contents with no warning. But if you ignore the trickle going across your basement floor for hours, it just may let loose.

Even if you have an unfinished basement, you need to be concerned about water intrusion. And the mold growth that it could promote. How about homes with the laundry on the first or second floor? Or an overflowing bathtub? Think of your drywall, your carpeting, your furnishings. An overflowing 2nd floor washer could cost you thousands of dollars!

One of my favorite leak detectors is the whimsically named Leak Frog. It does the same job as the others, and is kind of cute, to boot!

Just like the smoke detectors in your home, these leak detectors are only as good as the batteries in them. Remember to change them twice a year with quality replacements!

Stay dry. Sand if you can't, find out before a little water turns into a lot of water. Get a leak detector!

Source: Richard Strahm, RE/MAX Realty Group, Harleysville, PA - Used With Permission