The Viking Way...Thanks to Fred!

On my wish list...a Viking Range for my kitchen.  Stephen and I love to cook together...and we have discussed that in our next home we hope to be fortunate enough to have a Viking Range!  I also over research products that I am interested in eventually purchasing.  I ran across the story of how Viking got started!  Talk about an entrepreneur!  Check the story out here!

Monthly Reflection on the North Texas Housing Market

As expected, sales in the North Texas MLS system were much better than August 2010 (up 27% in volume and up 3% in average price, for a total dollar volume increase of just over 30%).  Granted, beating last August’s sales was a pretty easy task due to the 6/30/10 tax credit expiration and subsequent doldrums in the second half of 2010.  But even if the year-over-year improvement has to be taken with a grain of salt, the actual sales volume itself CERTAINLY IS something to get excited about.  As the chart shows, August’s sales broke out from the typical shape of the sales curve.  And as of 8/31/11, pending sales remained significantly higher, up 17% versus pending sales on 8/31/10.  So there is hope for continued improvement.

Clearly we still have our challenges in the North Texas housing industry.  But there are rays of hope for a turnaround.  We are very blessed to live and work in a relatively stable market, and there are elements of good news out there along with those challenges we are facing.

Housing Market Update from My Loan Officer at Starkey Mortgage

Home Prices Up for Third Straight Month:
Spring buying pushed home prices up for a third straight month in most major U.S. cities in June.
The Standard & Poor's/Case-Shiller home-price index showed Tuesday that prices increased in June from May in 19 of the 20 cities tracked. Prices rose 3.6 percent in the April-June quarter from the previous quarter. Neither of those numbers is adjusted for seasonal factors.
Chicago, Minneapolis, Washington and Boston posted the biggest monthly increases. Metro areas hit hardest by the housing crisis, including Las Vegas and Phoenix, reported small seasonal increases.
Analysts say home prices have stabilized in coastal cities over the past six months. Seasonally adjusted prices have fallen a modest 1 percent over the past six months, according to the index. That's less than a third of the decline from the previous six months.
Foreclosures and short sales—when a lender agrees to sell for less than what is owed on a mortgage—made up about 30 percent of all home sales last month, up from about 10 percent in past years. And 1.7 million potential foreclosures are being held up, according to real estate firm CoreLogic, either by backlogged courts or lenders awaiting state and federal probes into troubled foreclosure practices.
What Happened to Rates Last Week:
Mortgage backed securities (MBS) gained +47 basis points last week which helped to move mortgage rates lower from last Friday to the prior Friday.  This more than made up for the prior week's -40 basis point loss.  We actually were on a downward trend for mortgage backed securities (higher mortgage rates) for much of the week after getting much better than expected economic news such as the Chicago PMI, Factory Orders and ISM Manufacturing.  But the market reversed course on Friday after the Unemployment report was released.  While the Unemployment Rate remained unchanged at 9.1%, the market reacted very strongly to the data that showed that we created/added exactly zero jobs over the last month.  Economists believe that the U.S. needs to add at least 150K new jobs each month to get out of this stand-still.
What to Watch Out For This Week:The following are the major economic reports that will hit the market this week.  They each have the ability to affect the pricing of Mortgage Backed Securities and therefore, interest rates for Government and Conventional mortgages.  I will be watching these reports closely for you and let you know if there are any big surprises:
4-Sep20:00Labor Day
6-Sep10:00ISM Non-Manufacturing
6-Sep13:10Fed's President of the Minneapolis speech
7-Sep7:00MBA Mortgage Applications
7-Sep14:00Fed's Beige Book
8-Sep8:30Continuing Jobless Claims
8-Sep8:30Initial Jobless Claims
8-Sep8:30Trade Balance
8-Sep11:00EIA Crude Oil Stocks change
8-Sep13:00Fed's Bernanke Speech
8-Sep15:00Consumer Credit Change
9-Sep10:00Wholesale Inventories
It is virtually impossible for you to keep track of what is going on with the economy and other events that can impact the housing and mortgage markets.  Just leave it to me, I monitor the live trading of Mortgage Backed Securities which are the only thing government and conventional mortgage rates are based upon. 

Texas Economic Indicators Point UP

Texas existing-home sales were up 1.5% in July, and are up 22% over last year.
The Federal Reserve Bank of Dallas recently reported good news for the Texas economy. In its "Texas Economic Indicators" published on September 7, 2011, The Dallas Fed reported that Texas gained 33,000 jobs in June, and another 25,900 jobs in July, bringing the Texas unemployment rate to 8.4%, well below the national average of 9.1%.
The overall economy in Texas continued to grow at a moderate pace, with Texas exports, crude oil prices, and Texas manufacturing all showing gains.
Only one state (North Dakota) has grown faster than Texas since 2009.
So, aren't we all grateful to be in Texas?

Adorable Lease Listing - 5611 W Amherst - $1900/mo

Adorable Devonshire cottage. Light filled with fresh neutral paint and refinished hardwoods.

Behind The Pink Wall: Sunday - August 14th, 3-5pm

Energy Conservation

ERCOT (The Electrical Reliability Council of Texas) is encouraging Texans to conserve their electricity use through the next few days, as peak temperatures and energy demand occur throughout the state.

“We are requesting that consumers and businesses reduce their electricity use during peak electricity hours from 3 to 7 p.m. today, particularly between 4 and 5 p.m. when we expect to hit another peak demand record,” said Kent Saathoff, vice president of system planning and operations.  “We do not know at this time if additional emergency steps will be needed.”

For more information, see Aug. 1 news releases:
http://www.ercot.com/news/press_releases/show/403
http://www.ercot.com/news/press_releases/show/407
The Energy Emergency Alert (EEA) procedures are a progressive series of steps that allow ERCOT to bring on power from other grids if available, beginning with a Power Watch (Energy Emergency Alert Level 1).

If the situation does not improve, ERCOT escalates to a Power Warning (Energy Emergency Alert Level 2), allowing operators to drop large commercial/industrial load resources under contract to be interrupted during an emergency.

If the capacity shortage is not relieved by the contract demand response, ERCOT escalates to a Power Emergency (Energy Emergency Alert Level 3) and will instruct utilities to reduce demand on the grid by conducting temporary outages at the local distribution level.  These controlled temporary interruptions of electrical service - or rotating outages - typically last 15-45 minutes before being rotated to a different neighborhood.

Consumers should contact the utility company/ transmission provider listed on their electric bill for information about power outages at their homes or business, or about rotating outage procedures for their area.

Conservation Tips

Consumers can help by shutting off unnecessary lights and electrical appliances between 3 and 7 p.m., and delaying laundry and other activities requiring electricity-consuming appliances until later in the evening. Other conservation tips from the Public Utility Commission’s “Powerful Advice”  include:
Turn off all unnecessary lights, appliances, and electronic equipment.
When at home, close blinds and drapes that get direct sun, set air conditioning thermostats to 78 degrees or higher, and use fans in occupied rooms to feel cooler.
When away from home, set air conditioning thermostats to 85 degrees and turn all fans off before you leave. Block the sun by closing blinds or drapes on windows that will get direct sun.
Do not use your dishwasher, laundry equipment, hair dryers, coffee makers, or other home appliances during the peak hours of 3 to 7 p.m.
Avoid opening refrigerators or freezers more than necessary.
Use microwaves for cooking instead of an electric range or oven.
Set your pool pump to run in the early morning or evening instead of the afternoon.

Businesses should minimize the use of electric lighting and electricity-consuming equipment as much as possible. Large consumers of electricity should consider shutting down or reducing non-essential production processes.

Hotter Than Hell in The Big D

Ahhh...Dallas!  Where we actually have runs named Hotter Than Hell that people voluntarily run in mid July here!  CRAZY PEOPLE that is!

So since we are going on 12 consecutive days of 100+ temps...how about some pool action?

6131 Stefani offered by Kay Weeks at: $696,000 has a good looking one!

If you have a bit of a larger budget Kay is also offering 5834 Park Ln at: $2,995,000

Sandy Donsky is offering:  6902 Echo Bluff at:  $318,500

Then again, if you don't have a budget...and would just rather have the ocean, Laura Crowl and David Figueroa are offering 1 Blackbird Caye, Belize at $35,000,000.  They actually have a few of these properties available...so Mark, Dirk, Terry, Kidd, Chandler, Barea, and Marion...you could each have your own!  You did after all win The Championship this year and I think this might just beat a Trip to Disney!

These are just a few properties currently offered by Ebby Halliday, REALTORS that have pools!  If you are interested in a property with a pool for lease or sale...shoot me a note or give me a call!  Here to help...and then come swim at your place!

Favorite Home Of The Day - 5736 Southwestern

This home is offered at $375,000 by Bill Zeman.  He and I work together at Ebby's Little White House!  It is a fantastic 2 bed 2 bath in Devonshire that I would love to show you, your family and friends.  

It is move in ready too!    

It has a beautiful open kitchen and the main living area as well as master bedroom have vaulted ceilings giving the rooms more height.

There is a second living area that is not included in the photos.  It is currently being used as a study/living area.  It could easily accommodate a pull out sofa for out of town guests.  It even has a closet!  

Who wouldn't want to enjoy a nice evening out by the fire pit or grill with a glass of wine?  Perhaps you might even want to add a pool!

Greenville Avenue

Greenville Avenue is known for its unique specialty shops, restaurants and nightlife. Retail and residential have co-existed in this pocket neighborhood on the fringes of downtown Dallas for many years, and have maintained their values through many market trends. Situated along the "M" streets in Dallas, Greenville Avenue area's blend of ethnicity and urban living attracts buyers who enjoy older renovated homes in a metropolitan area. 

Best on Greenville According to me:

Best Sandwich: The Corner Market

Best Cupcake: Society Bakery

Best Tex/Mex: Blue Goose

Best Breakfast: Cafe Brazil

A Few Summer Tips!

Now is a good time to have your AC units checked and make sure the drain lines on the drip pans are unstopped- this prevent a Water Loss issue along with secondary damage. If you need the name and information on trusted AC Companies, let me know and I will gladly provide some to you. Turn off your water at the street while on Vacation to avoid any leaking issues while you are gone. While on vacation do not turn your AC united off (to save on electricity) as this will cause all wood products in your home to expand, swell, and crack.

4th of July Fun In Dallas - Fireworks

Kaboom Town (July 3)
This is the BIG ONE!  For sure the one to see!

Texas Rangers Stadium (July 4)
Watch the Rangers play the Orioles and then stay for the "Captain America-Disney Independence Day" fireworks show!

The 4th at Fair Park (July 4)
Fireworks start at 9:30pm.  For the best view you can watch from inside The Cotton Bowl, but families with young children note: no strollers allowed.

Lake Grapevine (July 4)
Watch from the shore or from the water.  Fireworks start at 9:30pm

Why Getting to Home Sweet Home?

A friend asked me the other day why I titled my blog Getting to Home Sweet Home.  The answer is twofold.  A few years ago I had the opportunity to take the Berkman Personality Test through the Junior League of Dallas.

At that point I had been working for PricewaterhouseCoopers a little over 4 years.  I enjoyed the people I worked with, but my career path didn't really suit me.  I wasn't excited about what I was doing, but I wasn't sure how to change it.  I knew I wanted to make a difference in peoples lives.  I also knew that working full time for a non-profit wasn't an option for me.  I love volunteering, but I have a bad habit of getting emotionally attached.  I would never go home.  Therefore, I continued with my job and volunteered my time with a few great places whenever I could.

After taking the personality test my previous thoughts were confirmed.  Did I have the head for numbers?  Yes!  Did I have the heart for numbers?  Numbers don't even have hearts!  Heck no I didn't have the heart for numbers!  Why on earth would you "heart" something that could never "heart" you back?

During this year of soul searching Stephen and I also began looking for our first home.  We had been in an apartment for 3 years and finally decided that we wanted to call Dallas home.  The best way to do that was to lay down some permanent roots.  It was during this time that I discovered I really liked real estate.  At the time we were not using a REALTOR® and I was doing most of the home searching myself while still holding down a full time job.  Talk about work?  It wasn't until the end of the process that I finally gave in and found a REALTOR®.  I immediately understood the value a full time agent brings to the table.  She knew her stuff and was one of the best in the business.  

I sat down and told her of my new love of real estate, my passion for helping people, and the desire to find a career that fit.  She told me that if I was serious about the change she would support me 100%.  She cautioned me that I would work harder than I ever had and that it had to be my full time career.  So, I took the plunge!

During that time I learned a lot about myself.  Stephen and I found our home sweet home and I found a career that feels like home.  Thus, the name of my blog and my motto... helping my clients get to home sweet home!  

Drip...Drip...Drip

That was one nasty storm early this morning in Dallas, huh?  I woke up to some crazy thunder and lightening this morning and one heck of a downpour!  Did you wake up to much of the same?  You might have even heard the dreaded drip...drip...drip and I don't mean a leaky faucet.  When you find you have damage to your roof or any other part of your house from a storm you might think that the first person you should call is the insurance adjuster.  However, if the damage does not exceed your deductible you might be doing yourself more harm than good.

Did you know that when an insurance adjuster comes out a claim is automatically filed on the house whether the insurance company ends up paying or not?  A tip I picked up from an insurance adjuster is to go ahead and have a roofer check the issues out first.  If it exceeds your deductible call the insurance company.  If not, you have just saved yourself a claim against your property.

The reason behind this theory is that homes with a lot of insurance claims attached to them can be hard to insure.  If your property is hard to insure...it will be even more difficult to sell.

White Rock Lake - A True Dallas Star (Part 2)

In 1930, White Rock Lake became more than just a park...it became a lake with a beach!  The Bath House (the same that stands today) was constructed along with a sand bathing beach on the east side of the lake and a boathouse was built for speed boats on the west side.  A year later a picnic shelter was built complete with stone and concrete picnic tables in the pecan grove.  These tables are still there today!

Until the 1940's more than 100 fishing cabins dotted the Lake's shoreline and Regatta's and speedboat races  were among the regularly scheduled activities.  There was also a dance pavilion beside the bathhouse as well as a floating dance pavilion and excursion boat, owned by Johnny Williams, named Bonnie Barge!

1952 was the last year the White Rock Lake Beach was open.  The summer of 1953 brought a drought in which the Lake was put back into service as a water supply and swimming was banned.  Fueled by fears of racial conflict the City of Dallas built smaller neighborhood pools and the beach was never reopened.  The ban on swimming in the lake remains in effect today.  

In 1971 the first "Run the Rock" marathon was held.  Run the Rock has become a major Dallas event over the years.  It typically starts in the Downtown area, winds its way through historic Highland Park, University Park, Lakewood, Swiss Avenue and back through Downtown.  The Marathon is capped this year at 6,000 and the Half Marathon is capped at 13,000.  Along the way are 28 sponsored bands and 28 water stops.  Many of the neighborhoods along the route also throw Marathon Watch Parties that also include their own bands.  It is a marathon that has sell out participation as well as terrific crowd support!  Remember, it was training for this marathon that I found the Lake when I first moved to Dallas!  Trust me, it's a lot of fun...and a nice "flat" course.

In 1995 a group of caring Dallasites formed For the Love of the Lake.  A grassroots effort created specifically to take care of White Rock Lake.  They have helped enhance the lake and park with projects such as picking up litter during their monthly Second Saturday Shoreline Spruce-Up events, helping to create the White Rock Lake Museum and The Celebration Tree Grove, working to restore the historic Big Thicket building and other park facilities, as well as, painting buildings and restroom murals.  Thanks to the efforts of few, many have a park to enjoy.  

From a tree lined valley, to water source, to recreation, White Rock Lake has worn many hats since its creation 100 years ago!  It truly is a a Star in Dallas and one worth celebrating this year and for many years to come!

White Rock Lake - A True Dallas Star (Part 1)

When I moved to Dallas 5 years ago I stumbled across White Rock Lake when I began training for the White Rock Lake Marathon.  Go figure, right?  Over the years it has become my own little get away within the city.  A quiet place where I can be alone with my thoughts and unwind!  On any given day of the week  many Dallasites come out to the Lake to do much of the same whether walking, running, or cycling.

This year, White Rock Lake and Ebby Halliday have something in common.  Their 100th Birthday!  Much  like Ebby (who is also the Centennial Celebration Honorary Chairman) the Lake's party is a year long celebration.  The conclusion of the party is at the end of this month with a party at The Bath House!  However, White Rock Lake wasn't always such a "happening" place.  In fact, in the beginning, it wasn't even a lake!

Before Dallas County was even a county the land where White Rock Lake now stands was a tree lined valley in which Native Americans hunted bison!  Crazy, huh?  It wasn't until the 1840's that settlers started home steads around the valley; the names of which you might recognize. (Cox, Dixon, Humbard, McCommas and Fisher...to name a few)

After the Civil War many families moved to the area and established communities that surrounded the valley.  Egypt (yep, we had one of those in Texas at one point too) was on what is now the northeastern shore of The Lake, Fisher on the northwest side, and Reinhardt (roughly where what is now the Casa Linda area).  In the 1890's a Swiss immigrant, Jacob Buhrer, started a dairy farm, most of which is now below the present day Lake.

So by now you have either quit reading or are wondering why a Lake.  One word.  WATER!  Dallas was growing and without an abundance of water in sight a reservoir was needed.  By 1914, White Rock was declared full and although it was not built with recreation in mind, Dallasites quickly discovered a great place for outdoor recreation.  Fishing, boating, camping and hunting were among the first activities at the Lake.  Yep, hunting!  Hey, it's Texas!
*It was also during this time that the road around the lake was constructed  by order of the mayor Joe E. Lawther.

In the early '20's a new reservoir was constructed (what is now Lake Lewisville) and White Rock Lake became a city park.

Summertime Home Projects

Summertime is almost here and millions of Americans will be starting home improvement projects.  Whether they're classified as maintenance, updating or energy saving, they should make homeownership more enjoyable.

Remodeling magazine's 2010-11 Cost vs. Value Report suggests that some improvements are a better investment than others.  Front door and garage door replacements are two of the easiest and return the greatest percentage of cost on resale.

Kitchen and bathroom updates transform an older home and instantly give visitors and buyers a fresh impression. Countertops and appliances can be expensive but yield great results.  Painting the cabinets and replacing the hardware is much less expensive to change the look and feel of the rooms.

Energy efficiency enhancements can improve your enjoyment of the home and help save money on utility costs.

• Replace older appliances - refrigerators, ceiling fans, water heaters, air-conditioners
• Add insulation to keep your home cool in the summer and warm in the winter
• Seal air leaks around doors and windows; holes in attics and crawl spaces with caulk, spray foam or weather stripping -more information
• Seal all heating and cooling system ducts - more information

Looking through the eyes of a buyer could show you what features most date your home and could order the priority that you tackle the projects.

FHA

The Federal Housing Administration (FHA)

What is the Federal Housing Administration?

The Federal Housing Administration, generally known as "FHA", provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single family and multifamily homes including manufactured homes and hospitals. It is the largest insurer of mortgages in the world, insuring over 34 million properties since its inception in 1934.  Did you know that you can get an FHA loan on a duplex, triplex, and quadplex as well?

What is FHA Mortgage Insurance?

FHA mortgage insurance provides lenders with protection against losses as the result of homeowners defaulting on their mortgage loans. The lenders bear less risk because FHA will pay a claim to the lender in the event of a homeowner's default. Loans must meet certain requirements established by FHA to qualify for insurance.

Why does FHA Mortgage Insurance exist?

Unlike conventional loans that adhere to strict underwriting guidelines, FHA-insured loans require very little cash investment to close a loan (3.5%). There is more flexibility in calculating household income and payment ratios. The cost of the mortgage insurance is passed along to the homeowner and typically is included in the monthly payment. In most cases, the insurance cost to the homeowner will drop off after five years or when the remaining balance on the loan is 78 percent of the value of the property -whichever is longer.

How is FHA funded?

FHA is the only government agency that operates entirely from its self-generated income and costs the taxpayers nothing. The proceeds from the mortgage insurance paid by the homeowners are captured in an account that is used to operate the program entirely. FHA provides a huge economic stimulation to the country in the form of home and community development, which trickles down to local communities in the form of jobs, building suppliers, tax bases, schools, and other forms of revenue.

See: http://portal.hud.gov/portal/page/portal/HUD for more information

Open House 5738 Greenbrier (Sunday: 3:30-5:30pm)

Charming Devonshire home beautifully updated with three bedrooms and three full baths. Light filled living and dining rooms with floor to ceiling shuttered windows, hardwoods, crown moldings and a cozy fireplace in the living room. Gourmet updated kitchen with granite countertops, stainless appliances, gas cook-top and a breakfast bar opens to large slate floored family room. Sunny breakfast room with a window seat and French doors views private brick patio and beautiful landscaped backyard. Master bedroom has two closets and a spacious master bath with a tub-shower combination, built-in vanity and a large walk in closet. Separate utility room with a sink, cabinets above the full size washer-dryer, closet and a door which accesses the backyard. Enjoy the front porch. Security. Sprinklered. Four Windows Replaced-2011. Paint-2011. Hi Efficiency Trane Indoor Gas System Replaced-2011. This home is adorable!

Open House 7703 Kilbride Circle (Sunday: 1-3pm)

Wonderful open, light,bright floor plan on a cul de sac. This 4 bedroom 3 bath is great for entertaining indoor or outdoor by the pool. Two living areas. Nice large kitchen with granite counter tops, breakfast room that opens to the main living area. Roof with radiant barrier. Located in Richardson school district.