Ron's Blog Conroe/Woodlands/Lake Conroe

I am still laughing at what I just read. It is hilarious. It is a report put out by the NAEBA (National Association of Exclusive Buyer Agents). The report is titled 2008 Report on Home Buying Euphemisms and Lingo. It is great. It is funny. You have to read the report. CLick on the report title for the link.

The report makes fun of many of the terms we agents use in our MLS listings. Of course after I finished laughing I went and checked all of my listings to make sure I hadn't used any of those terms. When I finish the process I may let you know how I fared.

Here is another list I found. This one was put out by The We Buy Ugly Houses people. The list is the Top Ten Cities for Real Estate Investing, 2nd Quarter 2008. Here is the list:

Top 10 Cities for Real Estate Investing, 2nd Quarter 2008

1. Dallas
2. Houston
3. Atlanta
4. Denver
5. Fort Worth
6. San Antonio 
7. Charlotte
8.  St. Louis
9. Milwaukee
10. Chicago and Kansas City, Kansas

They also had a list for the 1st Quarter, 2008. Here it is:

Top Ten Cities For Real Estate Investing, 1st Quarter 2008

1. Dallas
2. Houston
3. Atlanta
4. Fort Worth
5. St. Louis
6. Philadelphia
7. SanAntonio 
8. Denver
9. Minneapolis
10. Phoenix

I could really get involved with this list and report stuff. Some of it is pretty funny. Alas I need to go back to work. Time to see if I can salvage the deal I am currently negotiating. I could make a long list on this deal alone.....starting with a to high asking price and a to low offer!!

I can't believe it. I have become like some of my clients. I didn't used to be this way. Is there a pill I can take to cure this? You have no idea what I am talking about do you? I'm sorry. At least I can cure that.

I'm moving. I am a renter. Yes a realtor renter. At least since my divorce I have been a renter. I have been in this same place for three years and it is time to go. I need a change. I had to give sixty days notice to my current landlord. I did that without having a sure place to go but knowing a few realtors I figured no big deal. And of course it wasn't. I was offered so many deals from realtor friends that I finally stopped telling people I was moving. I got tired of explaining why I didn't want to live in the palace they were offering me. So what is the problem you ask? Why am I like one of my customers? I can't make up my mind which abode I want to live. That's right; I can't make up my mind on where to live. I have become one of my clients.

I have narrowed the decision down to two places and I can't make up my mind. Are you familiar with that particular buyer syndrome? Been there, done that and now I am "it". I have used all of the logic I use with my customers. I even did a buyers interview on myself. Yes I did answer myself. Do I need a shrink? I still can't make up my mind. I have taken the old yellow pad and #2 pencil and made my positives and negatives list. I have flipped a coin and it landed on its' edge. Just kidding on that one, but you get my point. I am my buyer.

Maybe the problem is that both potential landlords are friends of mine. Good friends. I know the one's husband, kids and grandkids and I know the others boyfriend. Opps ex-boyfriend, they broke up last week. I introduced them to each other two years ago. She called me crying this past week. And the other potential landlord called me this past week complaining about a mutual friend of ours. Thank goodness they know I have no social life and have all the time in the world to listen to them. Now you understand why the coin I flipped landed on its' edge. I can't make up my mind. I have become my client.

The last time I bought a house my ex and I walked in saw the pool, hot tub, counted the bedrooms, made a full price offer and closed in three weeks. Done. Fast and easy decision. I rented this house in a couple of hours. Done. Fast and easy decision. And now this, I have become one of my clients and can't make up my mind on where I want to live. Am I spending too much time with buyers? Have they rubbed off on me? Do I need a shrink? Why can't I make a decision on this matter? I'm not even buying only renting.

Okay I have three weeks until I have to be out of here so I have plenty of time. I am well over half packed. Maybe something will change. Maybe one of my buyers will call me tomorrow and tell me they have made a decision and that will spur me to make one. I can't believe it I have become my clients.

Maybe I just need a vacation. I can't believe it.....I have become my client.

This is sort of an advertisement. I admit it. But it is an advertisement designed to help anyone thinking about buying a home in the next six months to a year. I was just talking with a loan officer who is working on a non-FHA loan for a client of mine. The client has to go with a conventional loan rather than an FHA loan. For various reasons not everyone can go with an FHA loan. Any way the loan officer just told me because my clients credit score is only slightly below 680 the rate would be 3/8 to 1/2 points higher. That is nothing but money lost there because of a credit score. Pure and simple, money down the drain.

On a $150,000 loan that half point difference over seven years (the time you will probably own that home) is $4,116 dollars. On a $200,000 loan it is $5,460 and on a $250,000 loan it is $6,888. Plus those numbers don't include all of the other junk that goes with a lower credit score. And you do not want to use a good credit restoration company to raise your score? Okay waste the money. After all it is your money to waste. If I sound harsh I'm sorry I don't mean to be. It is just that I get frustrated when I see people waste money. Your good hard earned money.

Sellers? Yes you will probably have to buy again also so if you are thinking about selling in the near future it is something for you to think about.

I told you it was sort of an advertisement but it is the truth. A good agent is here to help with the entire real estate process long before you buy or sell. We take courses, study, read, learn, and do many things to help you and to save you money. If you are thinking about real estate in the future call your agent today. We won't mind we are here to help you.

I hope you have a great save money day!

Ron

First off I have to give credit to three sources for the basis of this blog. I have to be honest if nothing else. The sources for this blog are: 1 - usnews.com 2- realtor.com and finally realestatechecklists.com. Okay I was good.

First time home buyers make five major mistakes according to these sources. If I would add anything to what they said I would a sixth mistake which is buying too much home or not enough home. The too much home mistake is a financial one and the not enough home mistake is buying a home for only one child when you love one another and well nature takes its' course quicker than you thought it would.

What are the five mistakes first time home buyers make? They are shown below. My comments on each are in the quotation marks. 

1.They don't ask enough questions of their lender and end up missing out on the best deal. "I will tell you in number three on this list to interview real estate agents. Do not be afraid to get competitive quotes from a couple of lenders also and don't be afraid to ask questions about their fees and interest rates. Please remember though they do have to make money and can't do it for free."

2. They don't act quickly enough to make a decision and someone else buys the house. "There are times when you can take a week to think about the home and there are times when you cannot. Please understand we agents may not know how many times that home has been shown. I have found that about 8 out of 10 times buyers know as soon as you walk into a home that this is the one they want. Yes your gut instinct does work. You also know which homes you don't want so please let's not spend 20 minutes looking at a home you don't like the minute you walk into it. We can leave quickly."

3. They don't find the right agent who's willing to help them through the home buying process. "I agree with this. Do not be afraid to interview different agents and select the one you feel will work best with you. I will be sad if you don't pick me but I will get over it. Many years ago I interviewed pediatricians for my kids. Two of the doctors didn't like but the third one was great and was my boys doctor until the day they both entered the Army.

4. They don't do enough to make their offer look appealing to a seller. "My only comment here is that please remember that it takes two to make a deal. In most contracts there are only three important things, money, time and terms. You probably won't win on all three."  

5. They don't think about resale before they buy. The average first-time buyer only stays in a home for four years. "Go back to number three and please read that one again. A good realtor can and will assist you in this area. We want your repeat business in four years. None of us like those dog listings all though most of us have at least one of them like that."

Okay that is the list about first time home buyers and the mistakes they make. You know what though it isn't only first time home buyers making those mistakes. It is a bunch of us....myself included not that I look back on some things.

Thanks and please have a great day!!

Ron

The new interest rates for loans through the Texas Veterans Land Board for this week are as follows:

5.98% Base Rate applies to all loans with a term greater than 15 years.

• Available Discounts to Base Rate*
  Discount for loans with a term of 15 years or less: -.25%
  Qualified Veterans with Disabilities Program Discount: -.35%
  Qualified Service Era Discount (Restricted Pool): -1.52%

Not much change this week. Please email me if you have any questions and please call me so that I may help you look for a home. Have a great day. View the Texas Veterans Land Board website and some other informational websites by clicking the links below. Thanks and have a great day! And if you are in Texas getting ready to get drenched by our tropical storm/hurricane please be careful!

Ron

Texas Veterans website

Bankrate interest rates

My Website

Credit Improvement