RE/MAX International, Inc.  proudly recognizes Linnea Lavell for five years of service with the RE/MAX Network.

The award was presented to Ms. Lavell by Joe Bugg from the Broker & Management Team of RE/MAX First Realty II at their monthly office meeting. 

"We at RE/MAX would like to thank Linnea for the commitment and skill these five years represent.   She is  highly valued as a vital contributor to the ongoing success of our network. "

RE/MAX Associates enjoy Agent Training on Demand through RE/MAX University on Mainstreet, the members' resource site.  With streaming video education available 24/7 at their desk or laptop, RE/MAX agents can earn advanced designations, take classes on Internet marketing and computer applications without the time or expense of travel.

Bill Williams, Broker, RE/MAX First Realty II said "We've seen how she handles clients, and the quality of professionalism she demonstrates in every phase of customer service. Since she has the added benefit of the worldwide RE/MAX branding power, and more national television, radio and print advertising than all our competitors combined, the sky is his limit."

Ms. Lavell's office is at RE/MAX First Realty II, located at 2831 Eldorado Pkwy., just two doors down from Starbucks, can be reached by calling (972) 294 4545, or visiting

http://www.linnealavell.remax-texas.com

The RE/MAX franchise network is a global real estate system with more than 7,000 independently owned offices engaging 113,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, relocation, and asset management. Local community involvement is important to RE/MAX members who participate in thousands of local charitable causes and have raised more than $70 million for Children's Miracle Network. RE/MAX is also a major sponsor of the Komen Race for the Cure Survivor Program. For more information visit www.remax.com

*Each office independently owned and operated.

Buying a home is probably the biggest investment you will make, with long-term financial ramifications. It calls for many informed decisions and for good advice from a real estate professional. When buying a home, you can learn from the knowledge and skill of a Real Estate Agent.

Tip #1: Research Is The Key To Discovery

Home sellers won't call you with an offer to buy a maintenance-free home with a wonderful mortgage. You have to find the gems yourself! Only by reading available materials, talking to friends and experts, and spending time looking at different homes, schools, and neighborhoods will you end up with your American dream. Avoid the nightmares by learning how best to buy and maintain a home.

Tip #2: Make A Plan And Get Pre-Qualified

Every important decision needs to be clearly thought out. Developing a home buying plan can help you focus on the important factors and organize the entire process. You may even want to use a binder with sections on house hunting, home financing, service providers, etc. Loan pre-qualifying helps you determine the home price you can afford and presents you as a genuine prospect to the seller. A lender typically uses the 28% formula (your monthly mortgage can't exceed 28% of your monthly income) in approving your loan. Planning your actions and getting pre-qualified will keep you out of the panic mode and allow you to take advantage of opportunities. A thorough plan will save both time and money!

Tip #3: Value, Value, Value

The days of 10-30% annual appreciation have passed. Homebuyers in the 1970's benefited tremendously from what seemed like ever appreciating home prices. Nowadays, you're looking at slow growth while guarding against the possibilities of falling prices, skyrocketing ARM rates and corporate layoffs that can dramatically affect your home values. The classic rule of buying the worst house in the best neighborhood still applies. If you buy with an eye towards improvement, you can customize the home to fit your needs. The saying, "make money buying a home, not selling one," should keep you focused on the long-term importance of the purchasing price.

Tip #4: Create A Top 10 List Of Amenities

When shopping for a home, list the features (fireplace, fenced-in yard, new appliances, etc.) that are most important to you in deciding on which home to buy. Establishing "your criteria" early on will save time shopping for inappropriate homes and may keep you from buying a home on a whim. As detailed in Tip #3, your top reason for buying a home should be the value you are getting. Some of your top 10 amenities should logically be sacrificed if an incredible value is available.

Tip #5: Fixed vs. Adjustable Rate Mortgages

Adjustable rate mortgages have an initial fixed rate, which is followed by a period of adjustment intervals during which the rate adjusts based on the performance of several key indexes. Typically the initial fixed rate on an ARM is slighly lower than the comparable rate of a fixed rate mortgage.

Fixed rate mortgages allowe buyers to take out a long term loan without having to worry about changing interest rates or monthly payments. Most fixed rate loans are offered in either 15 or 30 year terms.

Most buyers will be well served by a fixed rate loan, but each situation is unique. While ARM loans have become less popular in recent years, they can still be a viable option for some buyers - especially those who plan on selling again in the short term. 

Whichever loan you choose; make sure that you scrutinize all the closing costs. If you are required to have a mortgage escrow account and private mortgage insurance, make sure you understand the terms and cancellation procedures (your Real Estate Agent has publications to assist you). Also, make sure there are no prepayment penalties so that you can utilize an accelerated mortgage plan. A good mortgage reduction plan can save you tens of thousands in interest costs, and shorten your loan term, with only small extra principal payments. If you experience negative changes in your job, health, or marital status, you can revert to the standard payments in your mortgage contract.

Tip #6: Sign A Contract That Protects You

Make sure that the contract you put on a house allows you to arrange financing, inspect the home and negotiate any problems that you uncover. Ensuring that the contract you sign will minimize potential legal battles will let you swim in your new pool with your family and neighbors instead of with the sharks.

Tip #7: Put Yourself In The Seller's Shoes

You are about to make one of the most important decisions that will affect both your life and the life of the seller. If you take time to understand the reasons the seller bought the home, their reasons for selling, and the home improvements they have or have not made, you'll be in a better position to evaluate the home and negotiate a better deal. In the end, the home buying process excludes the professionals and comes down to the individuals buying and selling the home. A closer look at the seller may help you in deciding whether and for how much to buy a particular home.

Tip #8: Develop A Mortgage Shopping Chart

One of the biggest decisions to make before putting a contract on a home is how to finance the purchase. There are 10,000 lenders competing for your mortgage business. The days of simply walking into the community bank and negotiating with the loan department manager are over. Today, you can apply for a loan over the Internet or even use a mortgage broker to shop for your loan with hundreds of lenders. When choosing a lender, you want to avoid apples to oranges contrasts by comparing fixed rates to fixed rates, not fixed to ARM's. Create a chart that lists different types of loans, fees, and at least five mortgage providers (including a mortgage broker).

Tip #9: Get A Quality Home Inspection

Although it is hard to believe, more people pay for inspections before buying used cars than when making the biggest investment of their lives - their homes. Paying for a qualified home inspection before you buy a home isn't just spending "a little extra" for peace of mind; it's absolutely essential for anyone who doesn't want to spend thousands of dollars for repairs.

Tip#10: Peace Of Mind: Home Protection Plans

To protect both you as a buyer, as well as the seller, it is a good idea to purchase a home protection plan.  What exactly is it? A home warranty, or home protection plan, is a service contract, normally for one year, which protects homeowners against the cost of unexpected repairs or replacement of their major systems and appliances that break down due to normal wear and tear. A negotiable contract between the buyers and sellers which does not overlap or replace homeowner's insurance policy, this type of warranty can save the new homeowner lots of headaches, as well as put seller's fears to rest. The warranty covers mechanical breakdowns, while insurance typically repairs the related damage. For example: if a hot water heater burst and destroyed a wall in your home, the warranty would repair the water heater and your insurance would pay to fix the wall.

As everyone knows the market has been moving at an unprecedented pace.  The big news of the week is the Bush administration has announced to use 250 billion of the 750 billion bailout bill recently passed by Congress.  The money will be used to purchase stock in 9 of America's largest financial institutions.  This has added much needed confidence.  The market rallied Oct 13th with gains of 936 point on the Dow moving up 11%.  Is this the end?   There are still some major hurdles to overcome but things have finally begun to turn in the right direction.

  How does this affect the rates and mortgages?  This plan should stabilize the banks with relief from the bad mortgages and free up money to lend on new mortgages.  Although it seems harder to obtain a mortgage these days, it is still a great time to buy.  Rates are still below the yearly moving average.  Prices are low.  Down payments are still minimal.   FHA and VA mortgages have yet to get hit with any major changes. 

  The United Stated Department of Ag (USDA) has introduced a loan product that still offers 100% financing with all closing cost rolled into the loan.  This loan mirrors the FHA with down payment assistance.  Although it is focused on Rural areas it works in more areas than it leads onto.  This product is a great alternative to getting into a home with no money down.  There are no fico requirements and loan size restrictions with the USDA loan.  Every borrower is reviewed on a case by case basis. 

  Bottom line...before you postpone your next move based on news that the media is delivering, check with us to see how we may help you clear some of the current hurdles! 

Information provided courtesy of Tony Ferrari with PrimeLending, A PlainsCapital Company.  For more information contact Tony at 972-728-0131 or Linnea Lavell with RE/MAX First Realty at 214-280-5900.

As we all know, the real estate market is ever changing.    Lease properties seem to be the hot spot right now in the Frisco/Little Elm areas.  Properties seem to be coming on the market, receiving multiple applications and leasing in a very short time frame. 

When looking for a lease property, it is important to find an agent that is familiar with the lease process and the inventory available in the area.  There are several forms involved in a residential lease so it is important to find someone that can explain the forms, answer your questions and make sure everything  is properly filled out.

When the market is as active as it is right now, it is important not to get frustrated or discouraged if you look at a property and all of a sudden there is an application pending on it.   Keep looking and make sure your agent is following up on those properties you really liked that became pending before you could submit an application.  

If you are looking to list a property for lease, it is important that you understand the property codes, tenant rights, rules/regulations regarding leasing a property and what are comparable properties leasing for in your area.  If you aren't sure of something, consult with a professional to get a clear answer.  You may want to consider listing your property with a real estate professional that is familiar with the process, the forms and knows how to market the property in a way to make sure you get maximum exposure to get it leased quickly.  

For more information about residential real estate leases contact Linnea Lavell at 214-280-5900.

Worried about paying your mortgage? 

FREE SEMINAR: Learn Your Options

If you are having trouble making your mortgage payments or are receiving default notices please plan to attend this free seminar  Learn what steps you can take to avoid foreclosure.

Speakers will include representatives from the following industries:

• Mortgage Lending
• Title Company
• Credit Counseling
• Real Estate

The seminar will be held March 6 from 6:30-8:00 p.m. at RE/MAX First Realty II, 2831 Eldorado Parkway, Suite 108, Frisco, TX.  Registration is suggested.  For more details or to register contact Linnea Lavell at linnealavell@remax.net or 214-280-5900.

The concept of making your home environmentally green is growing in popularity as more home owners realize that they can also put a little more green back in their wallets by making some changes. 

You don't have to make all the changes at one time but as a need comes up, take the initiative and make the change.  When a light bulb burns out, replace it with a compact flourescent bulb.  They cost a little more but will save an average of $30 or more over the lifetime of the bulb.  Look for the ENERGY STAR symbol on the package. ENERGY STAR qualified bulbs use about 75 percent less energy than standard incandescent bulbs and last up to 10 times longer.

As you do routine maintanence and replace items look for the ENERGY STAR symbol for an efficient replacement.   You may also be eligible for tax credits by updating windows, doors, appliance, etc. (more information on tax credits can be found www.energystar.gov).  Seal air leaks to eliminate drafts throughout the home.  Add insulation to block heat loss in the winter and heat gain in the summer.

There are many ways to go green and help the environment.  Even though we have only touched on a few, you can see that it is not that difficult to think green and start becoming more environmentally friendly.   In addition to the ENERGY STAR website, your local power provider or home improvement store can also provide information on ways to go green.  All it takes is a little initiative for everyone to be more environmentally friendly.

Technology has dramatically changed the speed of business.   It has enabled global openness.  Its knowledge based workforce has become a capital asset.  Deploying such talent to the right place and project has become a never ending challenge.  

The relocation of corporate families has always been a time consuming and often frustrating experience for corporations and their employees.  Relocation is just one of the responsibilities of a Human Resources Department and requires extensive knowledge of everything from Real Estate, to Moving and Storage, to Relocation Tax Implications.

The Partnering of Professionals

Many corporations outsource their relocation management to reduce fixed costs, while adding specialized skills and geographic expertise.  The goal is to maintain productivity, employee loyalty, control costs and ensure a smooth transition for the employee.

Relocation management companies provide the employee with a single contact (Relocation Specialist) to assist the transferee with all aspects of their relocation.   The specialist will review the corporate relocation policy with the employee, contact the movers, realtors, temporary housing providers, as well as, answer questions or concerns that the transferee may have about their relocation.   Each relocation is unique so the Relocation Specialist will review the individual needs of the transferee and their family to make sure nothing is overlooked.

The Relocation Company works with partners at origin and destination that can best meet the needs of the transferee.  Communication is imperative between the service partners and the relocation company to make sure everything goes smoothly for the transferee.  One small change such as a closing date being delayed by one day can create issues for everyone.  Good communication can alleviate delays, frustration and stress for the transferee.  The transferee needs to be focused on their family and their new job in their new location.

To learn more about relocation services, email us at linnea@lavellrealty.com