Street Smarts
The Gift that Keeps on Taking
Gift cards have become extremely popular. In fact, the variety of cards offered and the sheer convenience of these little plastic gems have created a new global culture of gift–giving that few could ever have anticipated. The National Retailers Federation estimates that a total of $97 billion in gift cards – $26.3 billion during the holidays alone – were purchased in the US last year. This year, however, experts say that this hassle–free holiday gift may have met its match: a tough economy.
Earlier this year, when Sharper Image declared bankruptcy, nearly $20 million in gift cards were instantly voided, forcing shoppers to suddenly reconsider the merits of the gift card. Remember, unlike banks accounts, gift cards are not protected by the FDIC or anyone, and there is no guarantee that you can redeem the value of the card if a company goes under. And with other major retailers filing for bankruptcy protection recently (Circuit City, Mervyns, and Linens–N–Things, to name a few) giving gift cards this year could be as risky as playing the stock market.
The good news is, with US retail sales expected to shrink this holiday season, retailers will be working hard to get their share of your holiday budget, no matter how large or small. This means major sales and deals that could make going to the mall this year a much better option than simply handing out gift cards anyway. Because of these deals, what a $50 gift card would have purchased last year could turn into a much more valuable and memorable gift for everyone on your list.
Either way, if you receive any gift cards this year, or you still have a few you haven't used yet, be sure to redeem them right away.
by
Lisa Warren
Southlake Branch Manager
Silver Oak Mortgage
Phone: (817) 410-2518
Fax: (817) 410-2519
lwarren@somlp.com
href="http://www.silveroakmortgagelp.com/">www.silveroakmortgagelp.com
Monday, November 24, 2008
Saturday, November 22, 2008
DATES TO REMEMBER
Holiday Happenings in the area.....
Nov. 14 - Jan. 3 - ICE! and Lone Star Christmas (Grapevine)
Nov. 22 - Jan. 4 - The Trains at North Park (Dallas)
Nov. 28 - Jan. 4 - Holiday in the Park (Six Flags in Arlington)
Saturday, Nov. 22 - 3:00 to 9:00 pm
Home For the Holidays (Southlake Town Square)
Tree lighting at 6:30 pm
Saturday, Nov. 22 - 24 - www.SouthlakeFestivalofTrees.com
Friday, Nov. 28 - FW Sundance Square
2:00 to 5:30 pm - Holiday Fun Zone
6:00 to 8:00 pm - Parade of Lights and Tree Lighting
Nov. 29 - Dec. 21 - Snowflakes, Sugarplums, and SANTA! (Fort Worth)
Saturday, Nov. 29 - 6:00 to 8:00 pm
Hurst Annual Tree Lighting Spectacular
Monday, Dec. 1 - 7:00 pm
Historic downtown Grapevine Carol of Lights
Thursday, Dec. 4 - 7:00 pm
Historic downtown Grapevine Parade of Lights
Friday, Dec. 5 - 6:00 to 9:30 pm
Holly Days at Keller Town Center
Saturday, Dec. 6 - 10:00 am
Neiman Marcus Adolphus Children’s Parade Dallas
Saturday, Dec. 6 - 4:00 to 8:00 pm
NRH Night of Holiday Magic at NRH20 Family Waterpark
Saturday, Dec. 6 - dusk
Twinkle Light Parade on Grapevine Lake
Happy Holidays!!!
Friday, November 14, 2008
Foreclosure Prevention
The two secondary-mortgage-market companies are well aware of the market pain and are taking a number of steps to provide relief, particularly to prevent foreclosures.
Among other things, Freddie Mac is allowing lenders to modify their at-risk loans into 40-year, lower interest-rate mortgages and to reduce borrowers' burdens by permitting them to roll up to six months of missed payments into what amounts to an unsecured second loan. The two companies are also ramping up their staff and adjusting compensation so their internal structure better matches the size and complexity of the processing demand they face.
What’s more, to help facilitate short sales, Lockhart’s agency will be releasing a large-scale, streamlined, standardized process for expediting short sales, which he said will give lenders flexibility and tools like principal forbearance that they can’t easily use right now.
But Lockhart made it clear that the bulk of the problem isn’t with Fannie and Freddie loans, but debt in what the financial services industry calls private-label securities, the Wall Street loans, many of them subprime, that are held by investors all over the world.
The streamlined short sale process his agency will be announcing soon—he didn’t give a time line—could go a long way to focusing the minds of lenders on the problem. But ultimately the problem won’t go way until interest rates come down, buyers start streaming back into the market again, and prices firm up, he suggested.
—Robert Freedman
Realtor Magazine
The two secondary-mortgage-market companies are well aware of the market pain and are taking a number of steps to provide relief, particularly to prevent foreclosures.
Among other things, Freddie Mac is allowing lenders to modify their at-risk loans into 40-year, lower interest-rate mortgages and to reduce borrowers' burdens by permitting them to roll up to six months of missed payments into what amounts to an unsecured second loan. The two companies are also ramping up their staff and adjusting compensation so their internal structure better matches the size and complexity of the processing demand they face.
What’s more, to help facilitate short sales, Lockhart’s agency will be releasing a large-scale, streamlined, standardized process for expediting short sales, which he said will give lenders flexibility and tools like principal forbearance that they can’t easily use right now.
But Lockhart made it clear that the bulk of the problem isn’t with Fannie and Freddie loans, but debt in what the financial services industry calls private-label securities, the Wall Street loans, many of them subprime, that are held by investors all over the world.
The streamlined short sale process his agency will be announcing soon—he didn’t give a time line—could go a long way to focusing the minds of lenders on the problem. But ultimately the problem won’t go way until interest rates come down, buyers start streaming back into the market again, and prices firm up, he suggested.
—Robert Freedman
Realtor Magazine
Tuesday, October 28, 2008
Mortgage Loans
URGENT!!
Dont let the media spook you!!
You do not have to have 20% down to obtain a home loan, we are financing people with a minimum of 3% down and even 0% down on special programs and areas.
Right now is the perfect time to buy a home, it is the largest investment you and your family will make. If you do not own a home or are interested in moving to a new one please call us. We can find a program that will best suit your needs.
by:
Silver Oak Mortgage
Lisa Warren
Branch Manager
751 E Southlake Blvd Ste 100
Southlake, TX 76092
office 817-410-2518
fax 817-410-2519
Thursday, October 2, 2008
Real Estate Update
October 2008
Rates Tick Up
In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage (FRM) averaged 6.09% for the week ending September 25, 2008, up from the previous week when it averaged 5.78%. Last year at this time, the 30-year FRM averaged 6.42%.
"Mortgage rates followed Treasury bond yields higher this week amid market uncertainty over the current state of the economy," said Frank Nothaft, Freddie Mac vice president and chief economist.
Mortgage Rates
Source: Realty Times
U.S. averages as of September 25, 2008:30 yr. fixed: 6.09%
15 yr. fixed: 5.77%
1 yr. adj: 5.16%
And while up, interest rates for 30-year FRMs are still more than 0.5 percentage points below this year's peak of 6.63 percent set the week of July 24th.
Where Are Lenders Getting Credit Scores?
Consumers often mistakenly believe that mortgage lenders use only credit scores from Equifax, Experian, TransUnion, and Fair Isaac's myfico.com to gauge creditworthiness. However, Consumer Reports recently found that lenders also use NextGen FICO scores, FICO Expansion Scores, and Industry Option FICO scores — which take car loans into consideration — as well as custom formulas. Given that these scoring models are not available to consumers, experts say that consumers should not rely solely on available credit scores to determine their likelihood of getting a loan. They would be wise to make timely bill payments, make more than the minimum payment, and hold down credit card balances.
Buyers Crave Green More Than Extra Space
Buyers of custom homes are increasingly interested in money-saving features like extra insulation and energy-efficient furnaces, rather than game rooms and space for in-laws, according to a Home Design Trend Survey by the American Institute of Architects. Sixty-eight percent of the survey's respondents said customers were requesting extra insulation in the attic compared with 56% a year ago. Two-thirds of respondents said green products such as tankless water heaters, double or triple-glazed windows, and sustainable flooring products such as bamboo or cork were gaining in popularity.
Only 8% of the survey's respondents said game rooms were increasingly popular among their customers, down from 23% last year.
Eight WaysTo Help a Home Sell Faster
Simple fixes and staging practices can focus buyers' attention in the right places and keep them from getting sidetracked by personal items in the home.
Here are some staging suggestions from Deborah Ehrlich-Layne of Staging Plus in Tampa, Fla., Handyman Matters, and HGTV's The Stagers.
Eliminate countertop clutter. A countertop covered with small appliances and utensils looks crowded, not spacious.
Pack up the too-personal. Don't leave toiletries on the counter. Stash family photos.
Be prepared for snoops. Prospective buyers pull open drawers, look in closets and peek behind the shower curtain.
Make sure things work. Dripping faucets, burned-out light bulbs, and squeaking hinges detract from the home's appeal.
Think "white-glove clean." Mop, dust, vacuum, clean baseboards, wash windows. Make sure the house looks fresh and smells neutral.
Make sure the front door is clean and the hardware polished. Power-wash walkways.
Store furniture that makes rooms feel crowded.
Show every room for the kind of room it is. Maybe you've turned your formal dining room into a home office. Get rid of the desk and computer, and bring back the dining table and chairs.
Copyright 2008 Realty Times
All Rights Reserved.
Rates Tick Up
In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage (FRM) averaged 6.09% for the week ending September 25, 2008, up from the previous week when it averaged 5.78%. Last year at this time, the 30-year FRM averaged 6.42%.
"Mortgage rates followed Treasury bond yields higher this week amid market uncertainty over the current state of the economy," said Frank Nothaft, Freddie Mac vice president and chief economist.
Mortgage Rates
Source: Realty Times
U.S. averages as of September 25, 2008:30 yr. fixed: 6.09%
15 yr. fixed: 5.77%
1 yr. adj: 5.16%
And while up, interest rates for 30-year FRMs are still more than 0.5 percentage points below this year's peak of 6.63 percent set the week of July 24th.
Where Are Lenders Getting Credit Scores?
Consumers often mistakenly believe that mortgage lenders use only credit scores from Equifax, Experian, TransUnion, and Fair Isaac's myfico.com to gauge creditworthiness. However, Consumer Reports recently found that lenders also use NextGen FICO scores, FICO Expansion Scores, and Industry Option FICO scores — which take car loans into consideration — as well as custom formulas. Given that these scoring models are not available to consumers, experts say that consumers should not rely solely on available credit scores to determine their likelihood of getting a loan. They would be wise to make timely bill payments, make more than the minimum payment, and hold down credit card balances.
Buyers Crave Green More Than Extra Space
Buyers of custom homes are increasingly interested in money-saving features like extra insulation and energy-efficient furnaces, rather than game rooms and space for in-laws, according to a Home Design Trend Survey by the American Institute of Architects. Sixty-eight percent of the survey's respondents said customers were requesting extra insulation in the attic compared with 56% a year ago. Two-thirds of respondents said green products such as tankless water heaters, double or triple-glazed windows, and sustainable flooring products such as bamboo or cork were gaining in popularity.
Only 8% of the survey's respondents said game rooms were increasingly popular among their customers, down from 23% last year.
Eight WaysTo Help a Home Sell Faster
Simple fixes and staging practices can focus buyers' attention in the right places and keep them from getting sidetracked by personal items in the home.
Here are some staging suggestions from Deborah Ehrlich-Layne of Staging Plus in Tampa, Fla., Handyman Matters, and HGTV's The Stagers.
Eliminate countertop clutter. A countertop covered with small appliances and utensils looks crowded, not spacious.
Pack up the too-personal. Don't leave toiletries on the counter. Stash family photos.
Be prepared for snoops. Prospective buyers pull open drawers, look in closets and peek behind the shower curtain.
Make sure things work. Dripping faucets, burned-out light bulbs, and squeaking hinges detract from the home's appeal.
Think "white-glove clean." Mop, dust, vacuum, clean baseboards, wash windows. Make sure the house looks fresh and smells neutral.
Make sure the front door is clean and the hardware polished. Power-wash walkways.
Store furniture that makes rooms feel crowded.
Show every room for the kind of room it is. Maybe you've turned your formal dining room into a home office. Get rid of the desk and computer, and bring back the dining table and chairs.
Copyright 2008 Realty Times
All Rights Reserved.
Wednesday, October 1, 2008
What's At Stake?
Pass the Emergency Economic Stability Act
A SUMMARY OF THE PROPOSED ECONOMIC STABILIZATION ACT
Click here:
http://takeaction.realtoractioncenter.com/campaign/eesa/explanation
A SUMMARY OF THE PROPOSED ECONOMIC STABILIZATION ACT
Click here:
http://takeaction.realtoractioncenter.com/campaign/eesa/explanation
Friday Night Predictions: Slow week will mean success for WC teams
Friday night will be the calm before the storm for most Wise County high school football teams. Four of the seven varsity squads have a bye this week as they gear up for the start of district play.
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The break comes at a great time for teams such as Boyd, Decatur and Chico, who are all 2-3 and physically beat up. However, there will be a little action on the gridiron with Bridgeport, Alvord and Northwest shining bright under the Friday night lights.
I don't need a bye this week because I'm already in midseason form. I went 6-1 in picking the winners, and fell one five-minute collapse by the Decatur defense from going perfect.
My season mark jumped to 26-8 and that's not too shabby. Especially when I'm going to score a hat trick this weekend.
Bridgeport vs. Graham
How 'bout them Bulls? They have won as many games this preseason as they have in the last five years combined. Yep, Bridgeport has a 4-16 nondistrict record dating back to the 2004 season.
So, do the Bridgeport fans have reason to be happy? You bet'cha.
The best part of it all is that the defense is one of the biggest reasons the Bulls are one win away from coach Danny Henson's first 5-0 start.
That shouldn't be a problem unless the Bulls have a letdown after playing two solid teams that will be in the playoffs. That is always a concern when playing a game that doesn't mean much in the grand scheme of things.
Graham is a good team, but not on the same level as Argyle and Prosper. These two teams have flip-flopped roles in just a year as the Steers are now jut a pretender and Bridgeport is the contender.
Henson won his 100th career game last week, all at Bridgeport. Let's chalk up No. 101 and get ready for the playoff run.
Bridgeport by 21
Alvord vs. Sacred Heart
The Bulldogs have faced the Tigers twice in coach Mike Chaney's eight years. They are 0-2 against the Muenster boys and have been outscored 67-22.
Sacred Heart has not faced a team as potent on the ground as it will Friday night. The Alvord smash-mouth football attack will give the Tigers plenty to worry about.
However, the Bulldogs have only been tested once this season as their opponents are a combined 5-13. In fact, Windthorst is the only team that has won more than one game.
That competition doesn't get much better this week as the Tigers are thin on depth and will be out-manned on both lines of scrimmage.
Despite the schedule, Alvord has only allowed 12 points all season. That is impressive no matter who you play at this level. It's easy to give up scores late in games that have already been determined, but not these Bulldogs.
The games begin next week, but tailback Shane Watkins and his boys will have a little fun first.
Alvord by 20
Northwest vs. Colleyville
The Texans defense has stolen all the headlines this season. They have whipped up on teams that actually have more issues on offense than Northwest.
Northwest carries a 3-1 record into this ball game. Those three wins have come against teams with a combined record of 3-10, while its lone loss was to a 4-1 South Grand Prairie teams.
This week's serving: A 4-0 Colleyville Heritage team. If the Texan defense is the real deal, then they must prove it against one of the most prolific 5A offenses in theMetroplex.
The Texans have surprised me this season in winning three of their first four games. With the loss of tailback Drew Ashley and receiver/safety Ricky Broxton, I didn't think this team had a chance this season.
Coach Leonard McAngus has done a great job in keeping this team competitive. But it will take a miracle worker to win this one. Is that McAngus?
Colleyville by 28
By Robert Morgan | Published Thursday, October 2, 2008
http://www.wcmessenger.com/sports/football_content/EkkklZplpEFTthpuyP.php
Printer-Friendly Version
Email This Story
RSS Feed
Discuss This Story
The break comes at a great time for teams such as Boyd, Decatur and Chico, who are all 2-3 and physically beat up. However, there will be a little action on the gridiron with Bridgeport, Alvord and Northwest shining bright under the Friday night lights.
I don't need a bye this week because I'm already in midseason form. I went 6-1 in picking the winners, and fell one five-minute collapse by the Decatur defense from going perfect.
My season mark jumped to 26-8 and that's not too shabby. Especially when I'm going to score a hat trick this weekend.
Bridgeport vs. Graham
How 'bout them Bulls? They have won as many games this preseason as they have in the last five years combined. Yep, Bridgeport has a 4-16 nondistrict record dating back to the 2004 season.
So, do the Bridgeport fans have reason to be happy? You bet'cha.
The best part of it all is that the defense is one of the biggest reasons the Bulls are one win away from coach Danny Henson's first 5-0 start.
That shouldn't be a problem unless the Bulls have a letdown after playing two solid teams that will be in the playoffs. That is always a concern when playing a game that doesn't mean much in the grand scheme of things.
Graham is a good team, but not on the same level as Argyle and Prosper. These two teams have flip-flopped roles in just a year as the Steers are now jut a pretender and Bridgeport is the contender.
Henson won his 100th career game last week, all at Bridgeport. Let's chalk up No. 101 and get ready for the playoff run.
Bridgeport by 21
Alvord vs. Sacred Heart
The Bulldogs have faced the Tigers twice in coach Mike Chaney's eight years. They are 0-2 against the Muenster boys and have been outscored 67-22.
Sacred Heart has not faced a team as potent on the ground as it will Friday night. The Alvord smash-mouth football attack will give the Tigers plenty to worry about.
However, the Bulldogs have only been tested once this season as their opponents are a combined 5-13. In fact, Windthorst is the only team that has won more than one game.
That competition doesn't get much better this week as the Tigers are thin on depth and will be out-manned on both lines of scrimmage.
Despite the schedule, Alvord has only allowed 12 points all season. That is impressive no matter who you play at this level. It's easy to give up scores late in games that have already been determined, but not these Bulldogs.
The games begin next week, but tailback Shane Watkins and his boys will have a little fun first.
Alvord by 20
Northwest vs. Colleyville
The Texans defense has stolen all the headlines this season. They have whipped up on teams that actually have more issues on offense than Northwest.
Northwest carries a 3-1 record into this ball game. Those three wins have come against teams with a combined record of 3-10, while its lone loss was to a 4-1 South Grand Prairie teams.
This week's serving: A 4-0 Colleyville Heritage team. If the Texan defense is the real deal, then they must prove it against one of the most prolific 5A offenses in theMetroplex.
The Texans have surprised me this season in winning three of their first four games. With the loss of tailback Drew Ashley and receiver/safety Ricky Broxton, I didn't think this team had a chance this season.
Coach Leonard McAngus has done a great job in keeping this team competitive. But it will take a miracle worker to win this one. Is that McAngus?
Colleyville by 28
By Robert Morgan | Published Thursday, October 2, 2008
http://www.wcmessenger.com/sports/football_content/EkkklZplpEFTthpuyP.php
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