David Pannell's Blog

Park Glen Fort Worth Keller Home for Sale

David Pannell (David Pannell Realtors) — Thu, 22 Oct 2009 23:35:54 -0700

Park Glen Fort Worth Keller Home for Sale

4708 North Cascades Street Park Glen has been completely remodeled and ready for sale in park glen Keller independent school district. This home is in the Keller Blue Bonnett elementray school boundary lines which is one of the best elementary schools in Keller let alone in Texas. This is home for sale has 2001 SQ feet 4 Bedrooms, 2.5 bath, 2 Garage spaces. Also for your enjoyment Park Glen neighborhood has is a 4 mile public park, frisbee golf course, and a huge green belt with walking trails. From the curb appeal on this home for sale to the new interior features you will love the professional updates this home offers your family. Contact David Pannell to view this property or others in Park Glen.

Top Features & Remodeled Items in this Park Glen Home for Sale:

New Textured ceiling - Expensive.
Brand new stainless steel appliances.
Rod Iron Stairs case added to home.
New Carpeting for Stairs and Upstairs 4 bedrooms.
New paint Egg Shell Color with Netural Accent walls (All High End Ralgh Lauren Paint).
All new fixtures througout bathrooms.
New ceiling fans in every room help POP the decor like a custom built luxury home.
All Lower Level Floors replaced with cermanic tile and wood floor.
Restained Kitchen counters.
Add Concrete Counter tops "Maximizer & Portland Mix Concrete".
5 Windows were replaced from broken or cracked seals.
Curb appeal with new flowers, front yard and backyard sod.
Rust-Oleum EPOXYShield Garage Floor Coating - in garage.

Glass shower and over sized bathroom tub in master bathroom.
Enormous walk in closet in master bedroom.
Master bedroom is up stairs along with the other four bedrooms which are all decent size.
The master bedroom is seperate from all the other rooms by an over looking inside balcony.
The windows in this home are larger then normal which allows a ton of light to brighten this home.
Open floor plan.
Home is surrounded by mature trees - oak, ever green, flowers and roses.
Room for a family to grow.
Bedroom painted for easy changes for any owner.

Compare this home to others! See the listings below in Park Glen Fort Worth. Just look below you can see what compares in the price range. Your looking to compare Apples to Apples. So look for 1900-2100 Square Feet homes with 4 bedrooms, 2.5 baths, 2 Car Garages. Than compare other homes to this homes upgrades and features.

House for Sale Park Glen Keller Schools Fort Worth Taxes

David Pannell (David Pannell Realtors) — Wed, 21 Oct 2009 20:43:57 -0700

House for Sale Park Glen Keller Schools Fort Worth Taxes

4708 North Cascades Street has been completely remodeled and ready for sale. This home is in the Keller Texas ISD Bluebonnet Elementary boundary lines which is one of the best elementary schools in Keller let alone in Texas. This is home for sale has 2001 SQ feet 4 Bedrooms, 2.5 bath, 2 Garage spaces. Also included in the Park Glen commmunity is a park, frisbee golf course, and a huge green belt with walking trails.

From the curb appeal, new interior features added and updated, you will love this professionally remolded home in Park Glen Fort Worth Texas Keller ISD. The rod iron stair case is amazing as it flows with new carpeting, extra pad and matching designer colors. The dark tan, egg shell whites and bright whites all tie in together making it feel clean, inviting and warm. The floors on the lower level have laminate wood floors in living room by the fire place and new ceramic tile floors in kitchen, dining room, entry way and laundry room and guest bath. The kitchen is big with tons of counter/cabinets space which have been stripped and restained with red oak. Stunning! The counter top is made from Maximizer & Portland Mix Concrete which is amazing material that is the buzz of the lastest and greatest. One notch above granite even! Brand new stainless steel appliances...this is sounding even better, please read on.

Buying and Selling, There are tricks to use.......

David Pannell (David Pannell Realtors) — Mon, 03 Aug 2009 17:24:35 -0700

Try this...www.davidpannellhomes.com Fort Worth Homes and Condos

If you ever wondered what someone paid for a home. Go to www.tad.org and then take owner info and go to public records for the county your home is in. For example, search (Google) Tarrant County Public Records. Take the name on the tax records (www.tad.org) and plug it into the Grantor or Grantee sections and search for lot/block info and owner name on (Public records). You can research owner info this way. Click on the blue link with in the data and you will find the Warranty Deed info. Now you can see what someone paid for the property.

Then you can guess on what room someone has to negotiate a deal. If the deed states they borrowed 103,000 and they have owned the home for 6 years. You can assume they have 100 dollars times 12 months times 6 years paid off the orginal amount borrowed. This would equal $7,200 paid off and equity. This does not account for loan type, money down. So, if you have a newer home in the 2000-2008 they probably borrowed 100%. 2000 and before would have to do a 3-6% down payment. See things you wouldn't know.

Then times the amount owed by .08%. This adds Realtor fee's to sell and Seller 2% closing costs. This would add $ 7,446 which equals 103,446. Assuming the deed states 103,000

So if they were asking 134,000 for the property you now know the room to negotiate. So then you look at the comps say the come in at 115,000 apples to apples comparables. You now offer the Seller 110,000 for the house and the Seller would probably sell the home to you around 115,000.

This is another reason you don't call signs in yards and work with Selling Agents. They would pull comps that would drive a higher price. They sign a contract to get the highest price possible with he seller....:((( DON'T CALL SIGNS TO SEE HOMES. CALL DAVID PANNELL 817-797-9047

I can help you find a good deal. Its alot of work plus you need SOLD and PENDING comps to make a decision on a property.

You really should use a REALTOR on your next home. Its not all about the money depending on who you use..

Call me David Pannell 817-797-9047

Who is David Pannell & What can he do for me?

David Pannell (David Pannell Realtors) — Sat, 27 Sep 2008 14:36:11 -0700

David Pannell is a full time Realtor serving the Northern Fort Worth communities; all cities like Haslet, Keller, Southlake and Flower Mound to name a few. The major cities are displayed as links on the side bar to your right.

He works with Buyers and Sellers looking for a fresh way to explore their options in the Local Real Estate area. He has developed talents in several areas like staging homes, video production, and internet marketing using web 2.0 ideas.

The big difference in David's service is just that. Old traditional service with fresh marketing idea's that are unused by many Realtors. He likes to reference the idea of buying a BMW versus the Kia model vehicles. People purchase BMW's for the service contract attached not the bumper to bumper warranties.

David is 31 years old come November 1st, 2008 and believes the path of his life has opened the doors for success in Real Estate. From being in the Marines right out of high school to a career in law enforcement; combined with his creative talents in art, interior design, and architecture he has a innovative approach to his Real Estate career for you.

All this ables David to do what is popular today. Bring your property to being seen first on the market in your communtiy and provide you the first advantage to see homes you want to buy as the hit the market. Much like the accesss a wall street broker has to stocks.

His approach to Real Estate for you is Sensible, Factual and Fresh!

David Pannell is popular, trustworthy and dependable. People like David for many reasons; but among them he tends to be stable, loyal and caring and have a wonderful knack for common sense.

He is a guardian. His relationships with friends, kin and colleagues are important to him. He spends time and energy developing and defending these social networks.

He is a good executive and manager. People almost instinctively feel David can supervise financial, business and social issues effectively because he his sensible and factual and does not care to waste your time.

He works hard. He likes schedules and being detail oriented. He tend to respect traditions so he can bring strength and stability to your Real Estate needs.

Yet he is admired by people who are spontaneous and who enjoy new and different ideas and experiences, as long as they are not dangerous. Respectability and appropriateness is important to him.

David is glad you've taken an interest in our services or by accident found him, it was all planned if your looking for something in Real Estate. We look forward to creating a marketing plan for your home, show the value of your home or buy a house in the area!

David is confident and knows the Fort Worth Texas market and grow up here. David would like to meet you and discuss the issues and needs that are important to you. Please contact us at your convenience.

Video references: David will be adding more in the future. The need for verifying is important to David and NHS Realty. A lot of references online can be faked or unreliable, so we are bringing you real time video of past clients.

Toby Miller of Weatherford Texas

Shady Oaks BBQ Fort Worth Texas

David Pannell (David Pannell Realtors) — Fri, 26 Sep 2008 10:12:01 -0700

We had our monthly meeting among our Realtors at Shady Oaks in Fort Worth. I would just like to thank the staff and Bobby the Manager for taking care of us. If your looking for a place to meet I would recommend this location. They have the space to fit any large group with an outside sitting area with lighting.

Not to mention the Traditional Ribs served to our Realtors. The order spread like a wide fire once our CEO placed his order. Its always the timid thing to order more then the owner would. With a Little patience we all got a big plate of Ribs and bake potato's. It was delicious and completely blew my calorie intake for the day.

Thanks again to Shady Oaks BBQ for supporting our companies needs.

NHS Realty

David Pannell

Texas Short Sales are better then Texas Foreclosures Dallas Fort Worth

David Pannell (David Pannell Realtors) — Sat, 20 Sep 2008 13:53:45 -0700

If your a home Buyer or Investor in today's market I believe it is a better deal for you to purchase a Short Sale property then a Foreclosed property.

The reason for this is simple; Communication and Title checks are complete on Short Sales. All though Short Sales have a bad rap on time delays and not being approved by the bank for the Shorts. In the past year we have never had delays or never been turned down to short a property. I guess it depends on the Listing Agents ability to control the file and follow through with mitgators. I know it helps us in Fort Worth Texas. Barbara Newton is an excellent negotiator when communicating with the banks.

In the past year I have come to this opinion because I have struggled to understand why the REO or HUD people constantly do not tell you what price will be accepted or even an answer. Also, I have had one recent customer tell me she lost her non-refundable earnest money, appraisal money and inspection money because the Country Wide found a Federal Tax Lien days prior to closing. They could not sell the property because of a Title not being Clear "OOPS". That would be false advertising or something against the Anti Trust Laws RIGHT. Now Country Home Mortgage will not speak to this Customer /Buyer at all. Then she called us.

Why would Country Wide Home Mortgage place a property for sale that could not be sold? Maybe because they have several departments running with no organization and plus their just a service company not a "BANK". I can go on about this corrupt company!

That is the risk you take with a Foreclosed property! If there is no communication between parties how the heck can anything be accomplished.

With a Short Sale we have to speck with the Lien holder (Banks) but the Listing Agent still has a commission to earn so we are more motivated to follow through and make a deal work! Our living is on the line. We can do several things to get a deal noticed by the BANK and make a lot of calls.

With a Foreclosed property, I understand that the REO or HUD agent listing the property makes little or nothing. So they must work 20-40 at a time to make it worth it. Is this where the weak link is. Plus the Banks, Investors of the Liens and Foreclosed Attorney's all have a hand in deciding on a price. Just imagine the time delay to get it through their offices. 30 days, 60 days....no try 18 months.....

An average Short Sales is complete within 4 months if handed correctly!

A Short Sales with Country Wide Home Mortgage takes 1 year! They lose paperwork, appraisals, and contracts. They even delete files.....after months of working a deal.

But, if you're considering a Short Sale property just make sure you have an experienced agent and can wait a few months. The deal is there just wait!

http://www.youtube.com/watch?v=BYYyDT8tppY

http://www.youtube.com/watch?v=j3JKzmphY8E

http://www.youtube.com/watch?v=ar5OxfveA4k

http://www.youtube.com/watch?v=SPSkIYPpCYE

David Pannell

817-797-9047

Hidden cost of home ownership

David Pannell (David Pannell Realtors) — Mon, 21 Aug 2006 19:00:44 -0700

By IEVA M. AUGSTUMS / The Dallas Morning News

NATALIE CAUDILL/DMN "Renting is easy," says Lakewood Heights homeowner Holland Smith, 34. "Living in an apartment, if anything needed to be done, taken care of, you just call the landlord."

Don't feel like renting anymore?

Well, before you rush out and put money down on a two-bedroom Tudor in the M Streets, a suburban starter or a downtown condo, you need to think about the hidden costs of homeownership.

"First-time homeowners are often startled by the hidden costs of owning a home," says finance expert Eric Tyson, co-author of Home Buying for Dummies. "There are a lot of ancillary costs that most don't think of. You can budget all you want, but things pop up."

You can plan out your mortgage payment, maybe even your supplemental insurance and utility bills. But maintenance, repairs, home improvements and decorating can cost you thousands of dollars a year more than you expect.

You need to take those costs into account when deciding what kind of home to buy and how much to spend.

"The amount of work that goes into a house is too much for me right now," says Eric Hovan, a 28-year-old who opted to purchase a condo in Dallas a year ago. "I can't even take care of plants, let alone a house."

Also Online

Graphic: The hidden costs (By Dean Hollingsworth/DMN)

If you're ready to make the jump from renting to buying, your first priority is to figure out a manageable monthly mortgage payment that takes into account these added costs.

Buying a home is the American dream. But putting yourself into a situation that you can't afford and can't get out of can be a nightmare.

Never had a yard before? It's time to purchase a lawn mower.

What about doing laundry? That's right, you need a washer and dryer.

"I don't think most people budget for this type of stuff," Mr. Tyson says. "Homes are typically larger than apartments."

Home price gains near national levels

David Pannell (David Pannell Realtors) — Mon, 21 Aug 2006 18:56:07 -0700

D-FW area figures rose 3.2% in second quarter; U.S. increases have fallen from double digits

12:00 AM CDT on Wednesday, August 16, 2006

By STEVE BROWN / The Dallas Morning News

After years of lagging behind nationwide appreciation, Dallas-Fort Worth home prices are now increasing at close to the country's average.

EXISTING HOME PRICE CHANGES
Median home prices for the second quarter of 2006 and the percentage change from the same quarter 2005.
City	Median price	Change
Biggest increases
Baton Rouge, La.	$172,300	27.3%
Ocala, Fla.	$169,500	25.3%
Virginia Beach- Norfolk, Va.	$237,300	23.6%
U.S. median	$227,500	3.7%
Biggest declines
Danville, Ill.	$65,200	-11.2%
Detroit	$155,700	-8.0%
Rockford, Ill.	$115,900	-5.5%
Texas cities
Amarillo	$118,600	10.4%
Austin	$176,700	5.9%
Beaumont- Port Arthur	$114,200	18.3%
Corpus Christi	$138,500	12.6%
Dallas-Fort Worth	$153,900	3.2%
El Paso	$126,700	16.3%
Houston	$152,700	7.2%
SOURCE: National Association of Realtors, Washington, D.C.

But that's not because local home prices have soared.

Median U.S. home sales prices rose by only 3.7 percent in the second quarter - down from years of double-digit inflation.

In the D-FW area, home prices rose by 3.2 percent in the most recent quarter compared with a year ago, the National Association of Realtors reported Tuesday.

That's down from the almost 5 percent rise in the first quarter, according to the Realtors' benchmark survey.

The slowdown in national home price growth is a good thing, said Realtors economist David Lereah.

"After a full year of double-digit gains in the national median price, the timing is right for a cooling in the rate of growth - we are presently experiencing a soft landing in the housing sector," Mr. Lereah said in a statement.

Home prices actually fell in more than two dozen of the 60 markets that the Realtors track for their quarterly survey.

The biggest drops were in Midwestern cities, including Danville, Ill., where prices dropped by more than 11 percent.

But not all areas of the country are in a home price freeze.

In Baton Rouge, La., which is still feeling the impact of New Orleans evacuees, median home prices were up by 27.3 percent.

And several Texas cities - including Beaumont, Corpus Christi, El Paso and Amarillo - had double-digit gains.

The D-FW area had the smallest price increase among the Texas cities in the survey.

More than two dozen states saw declines in pre-owned home sales in the second quarter, the Realtors said Tuesday.

But Texas had one of the biggest sales gains in the country - up 11.3 percent and behind only Alaska and Arkansas in higher home purchase numbers.

E-mail stevebrown@dallasnews.com

More headlines...

Foreclosures soar in N. Texas

Home price gains near national levels

For Dallas-area homeowners, sooner may beat later

Property tax cut won't be anything near a windfall

Closing costs rise in Texas to average of $3,578

Property tax cut won't be anything near a windfall.

David Pannell (David Pannell Realtors) — Mon, 21 Aug 2006 18:54:37 -0700

Brown

By now you've heard about the big property tax cut the folks in Austin are hyping - the largest in the state's history, they say.

But don't expect a sweepstakes win with what state lawmakers have delivered.

Indeed, for most Dallas homeowners, the first year's savings will buy only a tank of gas for a full-size SUV.

That's right. The state's much touted school property tax cut won't be the thousands of dollars politicians have bragged about.

What a shock! Who knew?

The people at the Dallas Central Appraisal District, that's who.

A copy of the appraisal district's internal newsletter spells out in exact dollars and cents how much Dallas County homeowners can expect to get in the much-ballyhooed property tax cut.

Based on homes with an average taxable value of $126,607, Dallas homeowners will save - wait for it - $84.21 in their taxes this year.

That's not enough to pay for a weekend at Six Flags for most families.

And it's certainly not the windfall state legislators were hollering about.

Next year, the average tax cut will be a bit better - $502.01.

But with many Dallas County homeowners seeing increases in their properties' appraised values, a large number of folks won't see a dime of the so-called tax relief.

Local taxing officials are dreading the public's reaction when they see what kind of tax savings they really get.

"In preparation for tax statements going out in October, and some of the public being of the belief that they will receive large slashes in their property tax bills, the tax collectors around the state are currently developing a statement that as briefly yet as thoroughly, accurately and understandably as possible will explain the true impact of the legislation," David Childs, Dallas County's tax assessor-collector, said in an e-mail.

"Staff will then be trained in how to respond to citizen confusions, misinformation and misunderstandings," he said.

They'll have a lot of explaining to do.

Of course, anyone who believes it when government says it has done you a big favor is loony in my book.

Criterion Development

A Dallas apartment development company has set its sights on a Cityplace-area building site.

Criterion Development Partners has contracted to purchase a vacant tract on McKinney Avenue just north of Blackburn Street. The land is adjacent to the Mondrian apartment high-rise.

Criterion is working on plans for a mid-rise residential community on the property.

The company was founded in 2004 by W. Pretlow Riddick with operations in Dallas and Austin. Criterion started with a joint venture with Boston-based General Investment & Development Cos. to build $250 million of apartments in Texas and the Northeast.

The developer has projects under way in Massachusetts and recently announced a 293-unit apartment community near Austin.

Las Colinas

Realty Capital Partners has formed a partnership to develop a Las Colinas office complex.

The Colleyville-based real estate firm has teamed up with developer Poynter Scifres Cos. to buy 6.6 acres on State Highway 161 for the project.

The two-story office project will contain about 106,800 square feet.

Happy birthday

Two Dallas real estate companies are celebrating anniversaries.

Faust Mortgage Co. recently completed 30 years in business. The company just provided more than $25 million in loans for projects in The Colony, San Antonio and Little Rock, Ark.

And Charles Blaylock Realtors is having its 50th anniversary.

Mr. Blaylock was a Dallas firefighter when he started his real estate sales business in northeast Dallas' Casa View shopping center in 1956.

He's still at it and uses the moniker "King of Casa View."

E-mail stevebrown@dallasnews.com

My New Home

David Pannell (David Pannell Realtors) — Thu, 10 Aug 2006 16:18:19 -0700

It's tempting to assume that new construction is sound construction, but that's not always the case. Do your homework. Investigate the builder, evaluate the location, get a thorough inspection and negotiate for the upgrades you want. Many builders offer financing through a preferred lender, which may save you time and money. Investigate your loan options online to compare before you sign up for a loan on-site.

Find a Good Builder

Look for a developer first. Whether you find one through referrals or through your own research, investigate a developer's reputation carefully:

Visit other projects (especially older projects) that the same developer built.
Look for durability of construction.
Talk to homeowners in these developments and in the one you're considering.
Find out how well the builder responds to complaints and follows up on repairs. Some developers have a person or department right on site to handle repairs.
Talk to authorities.
Contact the Better Business Bureau, the state's regulatory agency for builders, and the county courthouse. Find out if there have been any complaints, disciplinary actions or lawsuits against the builder.
Talk to vendors.
Contact suppliers, subcontractors and lenders. Find out if the builder pays bills on time.

Approve the Location

Evaluate the location, just as you would for a resale home. New-home communities are often built on the developing edge of a metropolitan area, so make sure that a freeway isn't planned to come through in 20 years. Check with the local zoning and/or planning department and look at their master development plan (if they have one) for any future development activity that might affect you. Find out more about the neighborhood by talking to neighbors, local businesses, and schools; use MSN House & Home to research school, crime, and demographics online.

TIP: Heavy demand and short supply drive up prices in booming areas. If you're buying in a rapid-growth area, try not to overpay for a new home. The market will inevitably correct itself and may leave you with a house that's worth less than what you paid for it.

Negotiate Your Purchase

Most new-home developers want you to use their sales agents to purchase a home in the project, rather than bringing in your own representative, and most contracts favor builders. For example, a typical contract may not provide escrow funds to handle repairs after closing. In theory, the sales price, contract terms, upgrades and options are all negotiable. In reality, most builders would rather give upgrades to avoid lowering the price, which lowers the comparative market value of other homes in the development.

Before you sign the purchase contract, find out exactly what the price includes in addition to the house, such as window coverings or landscaping. Ask about quality. Are the carpets, light fixtures, doors and windows you saw in the model the same grade that you will get in your home? Make sure your purchase agreement includes an itemized list of finishing details and who pays for them, which both you and the builder should sign.

TIP: Plan for delays. Don't leave your present home until you're certain when you can occupy your new home. The builder may be willing to pay the cost of an interim rental or hotel room if construction is delayed.

Inspect Construction

When you buy a home before it's built, you can follow its construction from foundation to roof. Consider doing three inspections:

1.	When the foundation is poured
2.	When the framing is up but not yet covered.
3.	When construction is complete.

Not all builders will agree to this condition (even though you pay for inspections), but if you can negotiate it into your contract, it gives you one way to exercise some quality control. If you buy the house before it's completed, use the final walk-through to make a list (called a "punch list") of finishing details that the builder still needs to complete. Have the builder sign a copy of the punch list.

Other inspection tips:

Make sure that your right to an inspection is covered in the purchase agreement.
Ask for copies of any previous inspection reports, including the soils report, so your inspector can review them.
Get copies of any blueprints, construction documents or surveys so your inspector can review them.
Understand your builder's warranty policy. A typical 10-year warranty covers structural defects for 10 years, as well as construction materials and defects for the first year and major mechanical systems for the second.

Copied from MSN, good material for a Buyer

Don't be a fool

David Pannell (David Pannell Realtors) — Thu, 10 Aug 2006 16:12:03 -0700

Mortgage scams are like Baskin-Robbins offerings -- they come in 31 flavors. Here are three top choices of con artists and how to avoid them.

By Christopher Solomon

If owning a home is the great American dream, then swindling people out of their prized possession is one of the great, lucrative American scams. Mortgage fraud is on the rise, thanks to the tremendous value that's locked up in real estate today and to the increasing number of people who are struggling to pay their mortgages.

"It's kind of become the new get-rich-quick scheme out there," says attorney Rachel Dollar, publisher of Mortgage Fraud Blog.

More than 323,000 properties entered some state of foreclosure in the first quarter of 2006, a 72% increase over the same period a year ago, according to RealtyTrac. And things could get worse: Nationwide, more than one in three outstanding mortgages has an adjustable rate and interest rates have been rising. "Nobody really knows what's going to happen," says RealtyTrac's Rick Sharga, vice president of marketing.

But scammers know that people in trouble make easy victims. They're swooping in and offering to "help" beleaguered borrowers -- and ending up with their house keys. Victims sometimes spend years fighting to get their homes back and some never succeed.

Meet Carol and Anthony
Carol and Anthony Calvagno of Deer Park, N.Y., on Long Island are in a hell like this right now. In 2003, the Calvagnos were in trouble. Anthony Calvagno had health troubles and had lost his job. In order to pay their bills, the couple took out a home equity loan on the Cape Cod-style house that had been in the family for three generations. (At the time, the couple had a $125,000 mortgage on a house worth about $290,000 -- a high-equity target.) But even the home equity loan wasn't enough.

That's when Mitchell Sims swooped in, offering to help, says the couple's attorney, Arshad Majid.

Sims told the couple that he would arrange a bailout, and that they should stop making mortgage payments while he worked out the details. When foreclosure notices started showing up, he told the couple to ignore them, saying he'd take care of it.

Nearly eight weeks after Sims had entered their lives, and the day before their foreclosure was scheduled, Sims told the Calvagnos that the arrangement hadn't worked. Instead, he said they'd have to file for bankruptcy and enter a "special program" in which they'd sign over their house's title to one of Sims' employees and another of his business associates, who also happened to be Sims' brother. They'd be allowed to live in their home as tenants, Sims told them, and their rent payments would go toward buying their home back from him, says Majid. "They were put in the position where they didn't have any choice" but to sell their deed, Majid says.

But Sims never made any mortgage payments. He kept the Calvagnos' rent money and about $50,000 of the couple's money that remained after their creditors were paid.

The Calvagnos had fallen victim to a scam known as equity stripping -- just one of the many flavors of mortgage fraud. Their house was sold. Sims and another person have been put in prison for their crimes. The couple has successfully fought eviction -- so far -- but not everyone is so lucky. Here's a quick look at three of the main ways scammers can steal the roof over your head.

Scam No. 1: The bailout, aka 'equity stripping'
As the Calvagnos' case shows, this scam is particularly ingenious -- and humiliating for the victim. In theory, a person or company could help a homeowner keep his house via a process in which the homeowner sells the house very cheaply to them while the homeowner gets his finances in order. The new owner pays the mortgage, and the old homeowner pays to live in the home in the meantime, buying back the home (with interest) in a fixed amount of time. If the financial setbacks are temporary, and the company is above-board, everybody can win: The homeowner keeps the house and the company earns a profit for its role as rescuer.

But "reconveyance," as it's sometimes known, is ripe for abuse.

Attorney Leah Weaver, who focuses on fighting the scams as an Equal Justice Works Fellow at the Legal Aid Society of Minneapolis, explains how scammers work this fraud:

Suppose you've got a $200,000 home, with $100,000 of equity in it. A divorce and medical bills have you facing foreclosure. Suddenly, the phone rings with a bailout proposal.

So you sell your home, for $120,000 -- not much more than what's owed on the mortgage. Why sell for so little? "Because it's never intended to be a true sale," Weaver explains; remember, you don't think you're selling the house permanently, but buying it back in a short period, right?

The new purchaser, meanwhile, takes out a $120,000 loan, wipes out any liens on your property and even gets you a little cash back; and you get a two-year lease with a purchase option at the end.

But soon you realize you're in trouble. Why? Because scammers aren't about to let you get your home back. Often, the lease terms desperate homeowners agree to turn out to be as onerous as their previous mortgage payments that helped get them into trouble. Con artists also manipulate victims when facing crucial deadlines.

"One of my clients was told that payments were going be to under $1,000 a month," Weaver recalls. But the criminals dragged out the process until the foreclosure was imminent and she was backed into a corner. "When she got to the closing ... they were like, 'Oh, no, the payments are going to be $1,150.'

"Inevitably," she says, "you're going to default."

And default isn't pretty. The new purchaser evicts you as soon as possible, sells your $200,000 house, pays off the $120,000 loan and pockets about $80,000 -- all for a few months' work, says Weaver. Some people don't even fight back because they don't know they have options -- such as calling a lawyer, says attorney Dollar.

Do's and don'ts:
• Don't fall for promises like "We'll save your credit"; "We'll buy your house 'as is'"; or "We'll get you a new mortgage with low monthly payments."

• Don't sign away ownership of your property (sometimes called a "quit claim deed") to anyone without the advice of lawyer you trust. "When people get behind on their loan payments, they get a bit desperate, but the answer is not putting someone else on your title," says Oakland real-estate attorney James Hand.

• Beware of any home sale contract where you aren't formally released from liability for your mortgage. Also, make sure you know what rights you're giving up and that you agree to giving them up.

Scam No. 2: Phantom help
This scheme is fairly simple: Let's say you're way behind on your home payments and facing foreclosure. An individual or group approaches and offers to help -- then charges you thousands of dollars for various administrative duties like filing forms and phone calls, or else keeps simply promising a big rescue later. You can probably guess what's really going on: The "helper" isn't really doing anything at all to stop your foreclosure despite collecting thousands from you. By the time you figure out you've been hoodwinked, it's often too late to stop the loss of your house.

How did the scammer know to target you, anyway? That's easy: When a lender schedules the home for public auction, the matter becomes public record. In just more than half of the states, a lawsuit must be filed in order to spur a sale. Anyone can check the court documents to find the list of lawsuits, says Elizabeth Renuart, an attorney with the National Consumer Law Center and co-author of a major report last year on mortgage fraud called "Dreams Foreclosed." Soon, a letter or phone call comes like something from a guardian angel -- only it's a vulture.

In the other states (including California and Massachusetts, for example), the process doesn't go through the courts; foreclosure sales simply must be advertised publicly, as in the local newspaper. This latter process usually moves faster -- and makes an already-stressed homeowner even more vulnerable to a scam, says Renuart.

Do's and don'ts:
• Do call your mortgage company or lender if you're in trouble. Ask for the loss mitigation department. Contrary to popular perception, lenders don't want to steal your house, says attorney Dollar. They want to work with you. Why? "Lenders always lose money on foreclosures, even in a rising market," Dollar says. Scammers, on the other hand, will try to keep you from communicating with your lender.

• Don't call for assistance from one of those ubiquitous signs on telephone poles that advertise help. Chances are, that's not where help lies.

• Do proceed with caution, if a company or person:

o Describes itself as a "mortgage consultant," "foreclosure service," or something similar;
o Collects a fee before giving any services;
o Advertises to people whose homes are listed for foreclosure, including anyone who sends flyers or solicits door-to-door; and
o Says you should make home mortgage payments directly to them or to their company instead of your mortgage lender.

• Don't panic. Get full information on the foreclosure process in your state. Make sure you know ALL deadlines -- for court, for document filings, etc. States usually have associations that can offer free advice. Minnesota, for example, has the Minnesota Housing Finance Agency as well as the Minnesota Mortgage Foreclosure Prevention Association, which has federal Housing and Urban Development counselors available. For who to turn to for advice, click on your state here.

Scam No. 3: The bait-and-switch
In this scam, which NCLC calls the "bait-and-switch," con artists actually trick a homeowner into signing over the deed to a home -- without his knowledge.

How could somebody fall for this?

Attorney Hand gives an example. Hand is dealing with 10 cases involving the same real estate loan broker, Kaseem Mohammadi of Union City, Calif., who has been charged with 13 counts of real estate fraud. One of Mohammadi's strategies, Hand says, was to visit his alleged victims armed with a load of documents on a clipboard and places marked with Post-It notes indicating where to sign. His victims -- some of whom were elderly, or didn't speak English well -- were usually overwhelmed by the documents and also couldn't exactly see what they were signing thanks to the clipboard. And one of the things Mohammadi allegedly got them to sign was a "grant deed" that passed their home's title to a third party.

You don't have to be old or a non-English speaker to be stymied by the legalese. Attorney Renuart says she has seen shysters get their victims to sign incredibly complicated legal documents that resulted in their property being transferred to entities such as trusts. "These trust agreements, I can't understand them -- and I'm a lawyer."

And if a criminal can't get the signature? Forgery goes a long way in real estate these days, experts say.

Do's and don'ts
• Don't sign anything that has any blank spaces. Information could be added later that you didn't agree to. (Yes, it happens.)

• Never sign a contract under pressure. Always know exactly what you're signing. Take your time to review the paperwork thoroughly -- ideally with a lawyer who only represents your interests.

• Never make a verbal agreement. Get all promises in writing and get full copies.

• Cast a jaundiced eye at deals that sound too good to be true. Lately, some scam artists promise they'll wipe out or pay off your home's debt for you (so-called "debt elimination"). Some flustered homeowners bite. Just remember the free lunch rule: There isn't one.

A final thought: Remember, if you can't fix your finances, selling your house (on the normal market, that is) may not be the end of the world. Sure, you'll be a renter again. But given how much homes around the country have appreciated in the last several years, chances are you've made some money, which you can use to get back on your feet.

Could rising gas prices kill the suburbs

David Pannell (David Pannell Realtors) — Thu, 10 Aug 2006 15:56:46 -0700

Could rising gas prices kill the suburbs?

When a high-cost commute reaches the point of no-return, home buyers will start finding houses closer to work. In fact, some already are.

By Marilyn Lewis

Rising fuel costs are being blamed for everything from soaring utility costs to lower retail sales and higher airline tickets. And now, experts say high gas prices could reshape U.S. cities.

"Most analysts believe that crude oil prices in the $50s and $60s will be with us for some time," says Stuart Gabriel, director of the Lusk Center, a think tank at the University of Southern California devoted to studying real estate forces and trends. There's even talk of crude hitting $100 per barrel -- or 10 times what it sold for in the summer of 2005.

Once the realization soaks into the American consciousness that high-cost gas is here to stay, Gabriel predicts, those high commute prices will pull more homeowners -- even young families -- to live in central cities and create a push for more public transportation.

City of the future: here, soon
Gabriel already sees change in car-centric Los Angeles, where the commuter culture has for years pushed mile upon mile of city sprawl into neighboring towns and farmland. But now Gabriel says KB Home is leading the way to a new type of neighborhood.

Once thought of as a first-home builder, KB in June launched KB Urban to develop high-density, mixed-use projects. The first such project will be a 2-million-square-foot complex of luxury hotels and private residences built in partnership with hotelier Marriott International and sports-and-entertainment company AEG, owner of L.A.'s Staples Center. This kind of development, Gabriel believes, will help make L.A. a denser, European-type central city. It is celebrated in a 2004 film called "The End of Suburbia."

"If you or I come back to Los Angeles 15 years from now, we are not going to see (the current) persistent pattern of building single-family detached homes farther and farther into the desert," Gabriel says. Instead, he says, expect "a denser center city, denser inner-ring suburbs ... a city that is more vertical."

High gas prices added incentive to in-fill
In truth, the trend toward city living began before the oil-price run up, Gabriel says. But high gas prices are reinforcing the changes already begun by homebuyers reacting to congested freeways, long commute hours and the desire for a different kind of life.

In San Jose, Calif., builders have clustered attractive condominium developments at and around light-rail stations as the system was built and expanded. An example of transit-oriented development, planners have expected for some time that high commute costs would create a market for such homes.

Walter Molony, spokesman for the National Association of Realtors, says that the gas-price spike is still too new to have generated much in the way of hard data. But if one informal Web survey is correct, commuter wariness looks like it could soon shape home-sales trends. At HomePages.com, 45% of 2,000 readers polled during one week in May agreed that gas prices were "very important" to them in choosing a home. Among the most-important factors in a home location, a short commute was second only to a safe neighborhood.

Gas prices shape the hunt for homes

How important have rising gas prices been in how you think about where you want to live?

Very important	45%
Somewhat important	25%
Not very important	11%
Not important at all	6%
No change	13%

Which factors are most important to you when choosing where to live? (Check all that apply)

Safe neighborhood	74%
Short commute to work	40%
Close to good schools	39%
Close to parks, water or other recreation	24%

Source: May 2006 Web site survey at HouseValues.com consumer sites, including HomePages.com and JustListed.com.

When market research experts from Kelton Research performed a similar survey in 2005, only 8% of the people who responded rated a short commute as important, says Hugh Siler, of HouseValues.com, which owns the HomePages site.

A shorter commute
Matt Loose, 28, and Dana Loose, 29, chose their first home -- in the close-in Denver suburb of Centennial -- with an eye to keeping their commutes as short as possible while fulfilling their dreams of owning a brand-new home. They recently closed the sale of their $250,000, three-bedroom, two-and-a-half bath home in a KB Home development called Village at Centennial.

"The main driving force behind our move was the convenience of the commute, as opposed to moving to a location that is farther outside of the metro area," said Matt. The new home is near a park-and-ride lot and a soon-to-be-built light-rail line, which will give him a 30-minute commute to his job as a civil engineer in nearby Englewood. Dana, a meeting and hospitality specialist, will be able to get to her job at a downtown Denver law firm in about 30 minutes.

While they won't be able to walk to work, many of their contemporaries are driving 45 minutes to an hour, to new subdivisions being built on farmland. "We really liked the surrounding neighborhood," Matt says of Centennial, "and we liked the fact that it wasn't way, way out in the middle of nowhere."

The economics of suburbia
Economist Jack Lessinger points out that suburbia not only depends on autos for commuting to and from jobs, but that everything in the suburbs -- from stores to schools to restaurants -- requires increasingly expensive trips in cars. Lessinger is the author of "Penturbia: Where Real Estate Will Boom After the Crash of Suburbia."

"Suburbia is full of far-flung destinations," says Lessinger. "It was oriented as a place where they could sell more goods and services, with shopping centers and subdivisions everywhere. It really maximizes the use of cars. It makes sense that, with high gas prices, the more-distant places are going to be hit the most." Like Gabriel, Lessinger predicts that the shape of communities to come will be circular and concentrated, and dictated by the need to conserve, where "the suburban plan is here, there and everywhere."

Young families may have previously been lured out of cities in search of big back yards for the kids, but driving their flight to suburbia were escalating house prices in cities and the relative affordability of new subdivisions at the edge of towns.

Trading miles for mortgage dollars
But with the cost of gas hovering around $3 per gallon on average in the U.S., it's worth considering whether a shorter commute would pay for the incremental cost of a more expensive in-city home.

Assuming a full-time job, $3 gas, 26 mpg and 50 cents a mile for maintenance and no parking fees, a 50-mile roundtrip commute costs $646.15 a month, or $7,753.80 a year, according to the City of Bellevue, Wash.'s, Commute Cost Calculator.

Moving closer to work boosts your house-buying power. Everything else being equal, a 10-mile, roundtrip commute costs just $1,550.76 yearly -- saving about $6,200 per year, or $517 monthly. That can add about $80,000 to the total amount of a mortgage loan, says one Chicago lender. The rule of thumb: Each $250 a month you can free up for mortgage payments equals roughly $40,000 more you can borrow at current rates (using the recent national average of 6.5%), says David Kasprisin, district sales manager for National City Mortgage Co. in Chicago.

Of course, if you're driving to work in a city, you're likely to pay up for parking. But even factoring in $200 per month for those fees, you'd still save $3,800 a year with the shorter commute -- good for at least another $40,000 on your mortgage. And chances are city living would make public transportation a viable option. Taking the bus -- in Bellevue, at least -- cuts the cost of the commute to between $600 and $1,000 per year, depending on whether you need a one- or two-zone bus ticket. This puts your savings back up around $558-$590 per month.

Kasprisin says it's not hard to make the argument to his underwriters that a low-commute applicant should get a bigger loan: He says, "Look, these people live near public transportation, you can take that into account. We're pretty flexible and look at the entire person's picture for getting their loan approved. We're not just looking at debt-to-income ratios; we're looking at a whole mixture."

Additionally, Gabriel predicts that "in-fill" developments eventually will make city living even more affordable. The key is building homes closer together -- say, 20 units on a site, rather than five, he says. Such homes are smaller than suburban homes, but closer to work and priced right.

Not there yet
As Matt and Dana Loose's house-hunting shows, not everyone with an eye to shortening their commute today can eschew the suburbs altogether. The Looses would have liked to have purchased even deeper into the city, if they could have found an affordable new home there.

So despite rising gas prices and the interest in urban in-fill, most big developers are still focused on the traditional bread-and-butter suburban projects.

"While we have increased the amount of attached homes in recent years to accommodate buyers who chose to live closer to urban centers, we continue see a large percentage of buyers who are willing to trade a bit of a drive in order to have the home of their dreams," says Sierra Wilson, KB Home spokeswoman.

The trick for consumers, then, is still finding that sweet spot between a shorter commute and affordability. For many, that means the suburbs are still in the running.

As Matt Loose says of his new neighborhood, "It's the suburbs, but it's not way out in the boonies."

Why should you use a Real Estate Agent

David Pannell (David Pannell Realtors) — Sat, 01 Jul 2006 21:27:25 -0700

"A real estate salesperson is more than just a "sales person." They act on your behalf as your agent, providing you with advice and guidance and doing a job - helping you buy or sell a home. While it is true they get paid for what they do, so do other professions that provide advice, guidance, and have a service to sell --such as Certified Public Accountants and Attorneys.

The Internet has opened up a world of information that wasn't previously available to homebuyers and seller. The data on listings available for sale is almost current - but not quite. There are times when you need the most current information about what has sold or is for sale, and the only way to get that is with an agent.

If you're selling a home, you gain access to the most buyers by being listed in the Multiple Listing Service. Only a licensed real estate agent who is a member of your local MLS can get you listed there - which then gets you automatically listed on some of the major real estate web sites. If you're buying or selling a home, the MLS is your agent's best tool.

However, the role of an agent has changed in the last couple of years. In the past, agents were the only way home buyers and sellers could access information. Now agents are evolving. Because today's home buyers and sellers are so much better informed than in the past, expertise and ability are becoming more important.

The real estate agent is becoming more of a "guide" than a "salesperson" -- your personal representative in buying or selling a home." www.realestatearticles.com

Running....my legs will fall off soon

David Pannell (David Pannell Realtors) — Sat, 01 Jul 2006 21:13:01 -0700

Okay I am fan of my own health lately. I have been jogging just about everyday, unless Jay my friend and Real Estate associate runs to far in one day an I just can not make it the next. Today, I completed another eight miles, well in between the stops an walks I did okay. Jay is training for a Marathon in October, and I on the other hand plan to be his waterboy. I have no desire to run 26.2 miles just to fill fulfilled. I would rather support him then to black out from complete exhaustion.

Running as always been something I have done to get exercise. I find it very rewarding, but lately I have been feeling the years catching up with me. However, I am 28 and should be fine. I just do not want to be using a cain before I need to.

37,000 people last year alone.

David Pannell (David Pannell Realtors) — Sat, 01 Jul 2006 20:30:30 -0700

37,000 people last year alone thought it was, 450,000 over the next ten years will soon be richer in equity and believe it as well. With the recent news broadcast about tax cuts for your home by 1/3, why are you not investing? In my opinion, anything within 30 minute drive time to one of our larger cities will see a hike in their home values much like other cities around the U.S, but with a little more holding power. The growth will not be overnight, or in a year, but there will be growth and it is a sure will be a shame not to plan ahead. This cowtown has no boundaries.

Especially if you're an investor out of state or in state, being a real estate agent here in Fort Worth/Dallas area and for the state of Texas, knowing what the trend has been and will be; growing up here and having the resources and being familiar with several builders. Nuhomesource.com and I am will be able to make deals that you would not be able to negotiate by yourself. It would be like asking a stock broker how a certain stock will perform. Which, they can not tell you what to expect; but you know if you do your research on the company you can figure it out. As an agent I can't not claim a house will gain in value; what I will do is show you the evidence to back-up my thoughts and you can make up your own mind. Since you get a discount using my company through the builder, you will walk into a house with equity. Especially if you have a 20 percent position on the house, and qualify for an option-arm mortgage, you can possibly make cash each month. As an investor, why pay mortgage insurance.

"With 37,000 people choosing to make Fort Worth their new home, the city led the regions continuing population boom, spurred by single-family housing construction in the Alliance corridor, according to a new regional population estimate issued today by the North Central Texas Council of Governments. Region wide, 50,000 new homes popped up as low interest rates continued to encourage homebuilders, according to the study, which measured population growth between Jan. 1, 2005, and Jan. 1, 2006." Fort Worth Star Telegram-Bryon Okada

For more information on the home buying process, I invite you to visit www.nuhomesource.com, or www.nuhomeagents.com ask for David when you call 817-886-4974 ex-707, if you get a voicemail, I am in the field with a client or on the phone. I will return your call as soon as possible. Hope to hear from you :)

Homes in Fort Worth/ Arington area http://www.nuhomesource.com/search_result2.php?pdid=4 Homes in Dallas area http://www.nuhomesource.com/search_result2.php?pdid=3

Homes in south Tarrant and dallas counties http://www.nuhomesource.com/search_result2.php?pdid=2 Homes in Denton and collin counties areas http://www.nuhomesource.com/search_result2.php?pdid=1

If you would like to look at pre-owned homes in the metro plex area please look here http://nuhomesource.mlsb.com/mls/search.cfm?cid=5089