Robert J. Russell's Blog

For Sale - Britney Spears Selling Beverly Hills Mansion for $7.9 million

Tue, 11 Nov 2008 13:39:41 -0600

Britney Spears has put her Beverly Hills Mansion on the market for a reported 7.9 million dollars. The 7,500 square foot home was made famous when she was taken to the hospital after a nervous breakdown.

Britney Spears,has listed her Beverly Hills Post Office home for $7.9 million.

The house is in a gated community and has about 7,500 square feet, with six bedrooms and 6 1/2 bathrooms. There's a wet bar, a library, a den, high ceilings and stone and mosaic tile floors. The master bedroom has a fireplace and a loggia. Then there's the pool, spa and arbor. It is being offered for sale partially furnished and decorated. And we suspect neighbors are popping open Champagne bottles.

This is the very same house that Spears was wrenched from in January by a well-executed LAPD plan to skirt the paparazzi and have the singer involuntarily committed to a psychiatric ward at UCLA Medical Center.

Attn: Texas Residents - Do you belong to Facebook - READ THIS !!!

Fri, 07 Nov 2008 09:06:51 -0600

We Want YOU to Join the LARGEST Facebook Group in Texas.
Our goal is to have 25 Million Members by June 2009. If this is successful, we will then file this with Guinness World Records.
We need you to join! Click the link to become a Member:

http://www.facebook.com/group.php?gid=30293213266

Tech Tip of the Day!

Thu, 06 Nov 2008 06:53:18 -0600

The World and the Internet are growing at a VERY Fast Rate!

FACT: The world population is the total number of living humans on Earth at a given time. As of November 2008, the world's population is estimated to be about 6.7 billion (6,700,000,000).

To see a List of ALL of the Languages Click the Link http://www.nvtc.gov/lotw/languageList.html

So let's say that you have a visitor who sends you an email.

This visitor wants to buy a house in Dallas for $1 Million Dollars BUT the problem is : The visitor thinks that you understand French or Spanish or Italian or German and says something like this: " Hallo - ich möchte ein Haus für 1 Million Dollar kaufen - können Sie mir helfen? Ich habe Bargeld und can' t schreiben auf englisch."

Oops - now that could be a problem.....or Is it ?

Simply go to http://babelfish.yahoo.com - copy the text - select: German to English and see what happens!

Now that you see what the buyer says, simply enter your reply in English - convert to German and paste it in your email. " It' einfaches s sehr und Sie wissen nie, wann Sie dieses verwenden können!"

Now - if you really want to get advanced think about adding a Translate Button on your toolbar or better yet - a Translate button on your website like I did on mine ( http://www.robertjrussell.com )

That's my International Tech Tip for this week!

So what's Wrong with Shag Carpet ? It looked good when I bought it!

Thu, 06 Nov 2008 06:33:39 -0600

Landlord refuses to part with '70s shag - What's the normal life expectancy of carpet?

Q: I rent a small cottage and have some concerns about my carpet. It's the kind of carpet that can best be described as 1970s-style shag with all the different color browns so you can't tell where there are spots and stains. I hate to think about what stains could have happened in the last 30 years! My landlord promised to replace the carpet before I took possession of the rental, but when it came time to move-in he just had it "cleaned."

One day last month my toilet backed up and was running for 13 hours while I was at work. With 2 inches of water in the bathroom it spilled over into my bedroom and thoroughly soaked the carpet through at least half the room. It was to the point where the water would squish up through my toes. I feared that my furniture would begin to mold as it sat in this toilet water mess. So I pulled all of the carpet and padding up, there was still about 1/2 inch of water remaining after that. I contacted my landlord the next day and informed him of the situation. He did send someone out right away to extract the water, but he actually mentioned that maybe the carpet could be dried out and reinstalled on new pad. I am beginning to panic as I had already disposed of the carpet and I'm afraid this guy is going to make me pay for new carpet. What is the normal life expectancy of carpet?

A: You certainly have had quite an experience. The "lifespan" of carpet is a function of the quality of the carpet and the intensity of use and many other factors such as sunlight. So while each carpet must be evaluated individually, I think it is safe to say that the usual range of years for the average life of an apartment-grade carpet is 5-10 years. Clearly in your situation the normal wear and tear combined with the damage to the "1970s carpet" from the water would make this carpet unsalvageable. I think it is very safe to say that the carpet was beyond its life expectancy and your landlord needs to invest in some new carpet. Your landlord at least sent out a vendor to clean up the water so maybe they can explain that drying out 30-year-old carpet after extensive water damage is wrong on many levels! Good luck, but I think that your landlord needs to get out his checkbook!

Q: My husband and I are about to move out of a new home that we have been renting in a rural area for the past 1 1/2 years. During a recent telephone conversation with the owners about the requirements for properly cleaning the property in order to get our full security deposit back, they mentioned that we had to have "the septic tank professionally pumped." The original lease agreement had a very detailed addendum of specific cleaning details and preferred professional cleaners. I can understand the need for us to leave the house as clean as we moved in, but this is ridiculous. We did check into the cost and learned that it will be $395, and we are concerned because they are holding our $3,000 security deposit. Is cleaning the septic tank part of the normal cleaning that should be done by the vacating tenant?

A: I don't believe that cleaning the septic tank is required, unless there was a specific agreement when you originally rented the house. The use of the plumbing system, including the septic tank, would be considered normal and expected use of the property. So without any agreement in advance or any justification that you had used the septic tank excessively, I don't think you should be responsible for cleaning the septic tank. If you find that your security deposit refund has an improper deduction for such an expense, you should promptly send your landlord a demand letter requesting an immediate refund of the withheld amount. If that doesn't get a response, you should pursue a small claims court action.

For more information about updating visit: http://www.robertjrussell.com

10 Strategies for New Real Estate Agents in Any Market & YouTube Video

Wed, 05 Nov 2008 06:36:42 -0600

The New President of the United States gets 100 days to prove himself. You get less. A lot less.

But like the President, what you do in the early days of your new career will largely determine whether you sink or swim.

This is a time of opportunity for you. A chance to start fresh. A new beginning. But it's also a time of vulnerability. You're a stranger in a strange land-with just a few dollars in your pocket.

The stakes are obviously high.

Failure in the early days of your career can spell the end of a promising business. So this post is not just about exploiting opportunities and advancing your career. It's also about preventing failure.

Therefore, your goal should be to arrive at critical mass as rapidly as possible. If you succeed in this, you'll free up precious time to focus on business development.

Follow these 10 critical strategies and you will inevitably exploit opportunities, prevent failures and advance your career.

1. Promote Yourself ( See my Video > http://www.youtube.com/watch?v=Vq6egBrefh8 )

First and foremost, make a clear break with your last job. Quit it if at all possible. Part-timers are crummy real estate agents.

Then, hit the ground running. Announce to everyone you know-including your old boss and co-workers-that you are a real estate agent. What you want is immediate traction. This means reworking your network.

Furthermore, learn everything you can about real estate. And start sharing that information. On a blog. In a newsletter. At networking events.

And most importantly: watch out for people who want to hold you back.

2. Accelerate Your Learning

If you aren't a reader-become one. Fast. If you aren't a learner-get over it. You'll need to become one if you want to succeed in real estate.

Now, if you have trouble learning or find reading boring, do this: view it as an investment. Imagine every hour spent learning is a possible $100 down the road.

Furthermore, to be systematic about learning, you'll need to define your learning agenda. You'll need to find the best sources of insight (this could be designations, coaching, conferences or mentors. Or all of them). What's always helped me when I want to learn something is to adopt a learning plan. This will work for you, too.

3. Match Strategy to Situation

Always diagnose the business situation you are entering before you create a strategy. Is it a hot market or a sluggish market? Urban or rural? What are the challenges and opportunities? Should you play offense or defense? What are the right skills needed to lead?

Also, understand the history, the people and the culture of your market. This can be some of your best clues on how to succeed in your market.

4. Nail Down Early Wins

While there are a lot of ways to build credibility, early wins is certainly one of the best.

What is an early win? Great thing about early wins in real estate is that you get to define them. An early win could be getting a buyer for a piece of property your company's best salesperson has been having trouble selling. Or it could be as small as meeting key leaders in your city.

Early wins involve rewards not just for your clients or co-workers-but for you, too. But whatever the win, make sure it's a tangible result. Something you can measure.

5. Negotiate Success

How do you build a productive relationship with the people you work with-whether clients or co-workers? There are several do's and don'ts.

First, the do's. Take responsibility for making every relationship work. Clarify expectations ealry and often. Negotiate times for action. Aim for early wins important to your clients and co-workers. Pursue relationships with people your clients and co-workers respect.

Second, the don'ts. Never trash the past. Don't avoid communicating with your clients or co-workers. Never surprise them. Never approach them with problems only. Never run down a checklist. Never try to change the people you work with.

6. Get Alignment from Key People

Think of yourself as an architect for your business. You're the one who's responsible for making sure your business is productive, effective and efficient. And that the important people in your business-the one's who are going to help you succeed-are behind your strategy.

This includes all the obvious people: your boss, partner, manager and co-workers. But believe it or not, this also includes your spouse. He or she needs to be on board with you are doing. Otherwise, expect grief.

7. Build Your Team

I can honestly say that the number one way to grow a business is to build a team. In other words, delegate work. Rock star agents probably not so much, but other successful agents move rapidly to add people to their team because they realize they can accomplish more when they have a group of people working as one on a compelling vision.

8. Create Coalitions

Sooner or later, you will need the support of peers-whether you like them or not. That's why it's so important to identify supporters and opponents, and then figure out how you can influence them.

This might mean you'll have to humble yourself and act kindly toward someone you can't stand. If that makes you want to hurl, think about this: one act of kindness now could lead to a strategic advantage in the future. One act of defiance now could lead to a stonewall-and a critical failure.

9. Keep Your Balance

This is the real estate killer-unending work. Seven day work weeks. Midnight closing times. Going into the office on holidays. Allow this to happen and you will burnout, or worse, lose your family.

Take stock, set limits on your business and be disciplined. For example, you could have a goal for a four-day work week. Or a four hour work week. Whatever your plan, stick to it.

10. Develop Everyone

If you follow the previous strategies you should be well on your way to reaping a rewarding real estate career. However, you're not done.

Don't forget about the people around you. Make it a plan to develop every member on your team into a leader. Help those in your peer or mastermind group to grow. Help client's achieve success outside of buying or selling a home. Ask yourself: whose life can I accelerate?

URGENT BULLETIN: Texas Realtor Enters the Presidential Race !

Tue, 04 Nov 2008 14:36:35 -0600

Just when you think you have seen it all !

Robert J Russell of Flower Mound, Tx has entered the race for the President!

See what the news is saying! Could it be an upset ?

Click here http://www.tsgnet.com/pres.php?id=46832&altf=Spcfsu&altl=Svttfmm

What the next president must do

Wed, 29 Oct 2008 16:32:08 -0500

The presidential candidates, in coordination with the White House, are taking aggressive steps to facilitate a smooth transfer of power to the new administration.

At the top of the agenda are national security and the economy, of course. However, considering the housing market kick-started the over-leveraged credit debacle, the administration must act swiftly to address the drifting housing market, which weighs so heavily on the economy.

First, the problem must be properly diagnosed. Rampant foreclosures, collapsing housing values, sloppy underwriting and anemic sales are the symptoms of the larger problem during the boom: too much liquidity chasing bad loans in an unaffordable housing market.

The market downturn has zapped liquidity, pushed down home prices and put a stop to poor underwriting -- this correction has, in effect, already rid the market of its worst woes.

But foreclosures are the consequence, which is keeping the housing market from finding a balance, as more and more homes are dumped on the market, further pushing down values. And the credit crunch has pushed underwriting standards to the other extreme, limiting the number of qualified borrowers who can purchase the rising number of home listings.

Stemming the number of foreclosures will go a long way to stabilizing the market, which should be the administration's first step. Clearly, the new president's first job is swift action on the human misery side of this mess.

With that challenge at the top, here is our to-do list for the next occupant of the Oval Office.

Institutionalize loan modification activity

FDIC head Sheila Bair has been experimenting with controversial programs that facilitate loan modifications, but the program is not scaling fast enough to keep pace with foreclosures. The private market is confronting the upside-down mortgage problem with lenders quietly accepting modification terms brought to them by brokers and lawyers.

This submarket should be encouraged but also regulated to insure that fees are not excessive, that the public purpose is achieved and that it is not a way to deceive people into modifying their loans into worse loans. The new administration must also find a balance that is fair -- helping the most needy borrowers -- as well as not ignoring the need for expanding the supply of mortgage credit.

Rebuild faith in the secondary mortgage market

Liquidity is at dangerously low levels as Fannie Mae and Freddie Mac recover. But confidence in these institutions must be restored, so liquidity is stable. With proper oversight and vanilla loan products, the secondary market will find a new level of risk and reward as investors return cautiously and slowly. Regulation (below) will play an important hand returning trust to the mortgage market.

Expand the scope of FHA

The Federal Housing Administration has always played a powerful hand in the U.S. housing market in times of market failures. Its share of home loans has jumped from 4 percent to more than 15 percent in the last year. However, FHA has had its share of scandals over the decades and should not be unleashed unattended.

Bring dignity to renting

Homeownership is the American Dream. We have learned, however, it is not for everyone. An unevenness was given to owning over renting in the last two decades, as Republicans and Democrats ignored the needs of the nation's rental market. The government rewards homeownership with more than $100 billion in tax subsidies on interest and property tax deductions. A new priority should be placed on renting a decent home at reasonable rents.

Re-tool federal housing programs

The federal government expenditures for affordable housing exceeds $40 billion. These programs should be re-thought in the current economic environment to give maximum help to those in need: low-income renters and people facing foreclosure.

Re-think regulation

An entirely new regulatory system must be put in place to bring oversight to the real estate market. One of those steps must be regulating real estate agents more like stockbrokers, where their fiduciary obligations are clear and the penalties are severe. Good agents will pass the test, bad ones will not and the market will be more transparent with fewer but more qualified agents.

Beef up RESPA

A core regulatory framework is in place to bring more transparency to the backend of the real estate transaction, preventing dubious relationships and excessive fees that are buried in the paperwork. RESPA should be bulked up, including more resources to enforce and punish those who do not comply.

Housing leadership

The administration must find new and capable leadership who are more than cheerleaders for the market but also leaders in crafting good long-term housing policy and fettering out shenanigans and corruption. Industry players who have conflicts of interest have filled too many housing positions across the country, including state real estate regulators.

Restore fundamental values for achieving homeownership

The government must stand on the side of savings -- not consumption -- when it comes to housing. That means building and designing housing that is to the scale of people's needs as well as encouraging sensible down payments, even-handed mortgages and usury rates on second and third mortgage loans to prevent predatory lending.

Resist quick housing stimulus packages

In haste, governments often do things that have unintended consequences. This market correction must be allowed within limits to correct, which means bad lenders, irresponsible borrowers and poorly managed companies will go under. In addition, the market needed downward adjustment on housing prices and should not be followed by government actions to immediately stimulate housing inflation. This markets needs stability, not any more wild gyrations.

Is your home a Fire Hazard ?

Tue, 28 Oct 2008 06:36:11 -0500

What type of pipe carries gas into your home? This isn't a trick question; it's actually an important question that many homeowners and interested buyers can't answer. But they ought to know for safety reasons.

"This is an education issue," says Angie Hicks, founder of Angie's List. Her company provides consumer ratings on local service contractors.

"We did an Angie's List poll when we started to look into this issue and [we found that] 44 percent of our members admitted that they don't know what kind of gas lines are coming into their house," says Hicks.

Why is this so important? According to Angie's List, the fire department in Fishers, Indiana -- one of the fastest-growing communities in the nation with the majority of its homes newer -- estimates that half of its reported lightning-related fires result from breached corrugated stainless steel tubing (CSST). These types of pipes have become very popular in the last twenty years.

According to ToolBase Services, since 1989 more than 150 million feet of CSST for gas distribution have been installed in residential, commercial, and industrial structures. The product's usage has been increased in the last several years. ABC News reports that an estimated 2 million homes that these types of pipes in them.

Angie's List writes that, "The cause of CSST-related fires has been attributed to either a lack of, or inadequate, bonding and grounding, which has resulted in arcing damage to the tubing. That may lead to a puncture in the CSST wall, causing gas leakage."

The very thing that makes the product popular also causes it to be more dangerous especially when not properly installed. CSST is thin and therefore electrical energy tends to linger longer. That energy seeks to escape through the easiest path such as by blowing out a hole in the gas tube and igniting a fire.

Hicks witnessed this in her Indiana neighborhood. A nearby house burned down because of this type of incident. "The lightning when it struck the house penetrated that line and caused a gas fire," says Hicks.

CSST is more common in homes that have been built or remodeled since 1988. "About half of the new homes built each year contain it," says Hicks. However, just because a home has CSST doesn't necessarily mean that there will be problems. The key is to know what type of pipes are used and if they've been installed correctly.

"You should have your home inspected and check to see that the lines are grounded properly; that is the key here. It's not that you can't have a CSST line. In fact, the American National Standards Institute regulates these lines -- having them is fine, it's just ensuring that they're grounded properly," explains Hicks.

She says, "You need to have someone who is licensed and certified in handling CSST installation. The interesting thing is that industry standards changed in early 2007 in regards to handling CSST. After a class action lawsuit was settled, now only licensed electricians and plumbers certified in CSST are supposed to bond and ground the product," says Hicks.

"You need someone experienced to handle this," cautions Hicks.

Is your website easy to navigate ?

Mon, 27 Oct 2008 06:45:45 -0500

If your website isn't easy to navigate then maybe you need to reorganize or edit it more often - you will be surprised how many more visitors you will get

Visit http://www.robertjrussell.com to view ours !

Foreclosure filings down 12% in September

Thu, 23 Oct 2008 06:53:01 -0500

New state laws slowing foreclosure process

By Inman News, Thursday, October 23, 2008.

New state laws that require loan servicers to give advance notice before filing a notice of default helped push down foreclosure-related filings by 12 percent nationwide in September, data aggregator RealtyTrac said today.

California, which accounts for nearly one-third of foreclosure activity, passed legislation that took effect in September requiring lenders to make contact with borrowers 30 days before filing a notice of default. Notices of default in California dropped 51 percent in September, with a corresponding "significant impact" on national numbers, RealtyTrac said. RealtyTrac said notices of default fell 66 percent in North Carolina, a state that now requires lenders to provide homeowners and the state commissioner of banks 45 days' advance warning of plans to file a notice of default.

Lenders file notices of default as the first step in the foreclosure process, in most cases after borrowers fail to make two or more payments. A notice of default starts the clock ticking on a forced auction sale or bank repossession of a delinquent borrower's home.
Foreclosure-related filings include default notices, auction sale notices and bank repossessions. Because many borrowers refinance, get current again on their loans, or negotiate a short sale or loan modification with their lender, not all properties subjected to filings are actually repossessed or sold by lenders.But in many instances, the new laws governing notice of default filings may only delay lenders from initiating the foreclosure process.

After a new Massachusetts law took effect in May requiring that lenders give homeowners a 90-day right-to-cure notice, initial foreclosure filings were lower than normal for the following three months. But initial foreclosure filings were up 465 percent from August to September, RealtyTrac said, as the first loans subject to the new rule emerged from the 90-day window.

Nationwide, RealtyTrac counted foreclosure related-filings on 265,968 properties in September, down 12 percent from August but up 21 percent from a year ago.
At the state level, Nevada saw foreclosure-related filings jump 11 percent in September. The rate of foreclosure-related filings in Nevada -- one for every 82 homes -- was the highest in the nation, and more than five times the U.S. average of one filing per 475 homes.

With one filing for every 178 homes, Florida moved from fourth place to second on the list of states with the highest foreclosre rates.
In California, the dramatic decline in notices of default contributed to a 32 percent decrease in foreclosure-related filings. Still, one in 189 homes was subjected to a filing, the third-highest rate in the nation.

Arizona, Georgia, Michigan, Ohio, New Jersey, Indiana and Colorado rounded out the list of the 10 states with the highest foreclosure rates.

For the third quarter, RealtyTrac counted foreclosure filings on 765,558 homes, up about 3 percent from the second quarter and 71 percent from a year ago.

Six states -- California, Florida, Arizona, Ohio, Michigan and Nevada -- accounted for more than 60 percent of foreclosure-related filings.

The 10 cities with the highest foreclosure rates among the nation's 100 largest metropolitan areas in the third quarter were located in California, Florida, Arizona and Nevada.

They were Stockton, Calif.; Las Vegas, Nev.; Riverside-San Bernardino, Calif.; Bakersfield, Calif.; Fort Lauderdale, Fla.; Phoeniz, Ariz.; Sacramento, Calif.; Orlando, Fla.; Fresno, Calif.; and Oakland, Calif.

Understanding FHA

Tue, 21 Oct 2008 19:34:37 -0500

RISMEDIA, Oct. 21, 2008-With the Federal governments re-emphasis on the FHA as a key vehicle for resuscitating the real estate market, now is a good time to review FHA in more detail.

Let's start with some basics. First, the FHA insures loans that approved lenders make, it does not purchase them as Fannie and Freddie do. If a FHA insured home goes into bankruptcy, FHA pays off the mortgage to the Lender, takes ownership of the home, and then proceeds to sell it (a HUD home.)

To mitigate its risk and provide income to offset foreclosures and defray their expenses, FHA charges the borrower insurance premiums, both an up-front and a monthly premium. The up-front premium can be included in the mortgage amount.

FHA loans are available for purchasing or refinancing a 1 to 4 unit, owner occupied home. There a number of FHA programs that cover the gamut of real estate offerings, from your "vanilla" FHA loan to Condos to REO's to Reverse Mortgages to Rehab to Veteran loans and more. In subsequent articles we will be reviewing these programs in more detail.

Over the last number of months, FHA began implementing some changes to their programs. In addition, the Housing and Economic Recovery Act placed additional changes in FHA practices, some of which modified FHA proposed changes. I have listed some of those changes below.

Converting Existing Homes to Rentals

The FHA changed their underwriting rules to limit the ability of a homeowner to use rental income from a previous residence that it converted to a rental property, when applying for a new mortgage on a second property. Under the new rule, the homeowner must prove sufficient income to make both mortgage payments without the rental income or has an equity position in the rental property that it will not likely result in defaulting on that mortgage. There can be an exception to this rule for employment relocations.

This change mirrors the announcement by Fannie in August. Apparently, homeowners, in increasing numbers, are choosing to vacate their existing principal residence and purchase a new residence. They are then providing misleading information on the rental income of the property being vacated to justify the new mortgage. These changes effectively end "bail and buy" loans.

Moratorium on Risk Based Premiums

The Housing and Economic Recovery Act provided for a one-year moratorium on the implementation of the FHA's risk based premiums beginning October 1, 2008. The effect of the risk based premium was to increase the premium based on the amount of the down payment.

This will not delay the implementation of an upfront premium as well as well as monthly premiums on all loans.

Seller concessions of 6% are still allowed; however, down payment assistance programs have been eliminated effective October 1, 2008.

Down Payment Requirements

The Housing and Economic Recovery Act also called for an increase in down payment required to 3.5%. That change will not go into effect until January 1, 2009.

As with any loan program, there are a number of stipulations that need to be met to gain approval. That is why it is important to choose the right FHA approved lender. Not all FHA approved lenders service all FHA loan programs.

By Jason Kotar

Great Info For Sales & Marketing!

Fri, 17 Oct 2008 11:42:13 -0500

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THIS WEEK'S TOP SALES AND MARKETING STORY

What can an FMO do for me?
By Michael Poirot
GamePlan Financial

Comparing field marketing organizations (FMOs) can be tricky. You've probably received mailings and phone calls from the numerous FMOs in the industry, but how do you cut through their marketing and find the real value?

Whether you are making this choice for the first time or you are reevaluating your current situation, there are important questions you must ask yourself and your prospective FMO. A good FMO should be a natural fit that reinforces what you do well and fills in the gaps where you need help. Since it's usually easy to identify what you already do well, this article will focus on what an FMO can do for you.

Ask for references

A good FMO will have programs with a proven success record. If an FMO deals with hundreds of successful agents you shouldn't have to recreate the wheel. They should provide options to fit varying budgets. Ask to talk to a successful agent in a non-competitive market. Question them about their marketing programs, the strength of their company and personal attention. Did the marketing programs provide a good return on investment? The answ...

Continue Reading...

Past Sales and Marketing Top Stories...

Seminar attendees: Quality vs. quantity What does "user-engagement" mean to your business? Attract a flow of prospects

MOST RECENT SALES AND MARKETING NEWS

Cuomo threatens AIG lawsuit (10/16/08) Company size impacts health plan preferences (10/16/08) Oil declines on EIA inventory report (10/16/08) Merrill posts 5th straight quarterly loss (10/16/08) AARP, state regulators eye "free-lunch" seminars (10/15/08)

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Robert J Russell Financial Newsletter

Mon, 13 Oct 2008 10:22:55 -0500

Robert J Russell Financial Update Real Estate & Insurance News

October 2008

* Visit our website to find out how to win a Dinner for 2 to the Restaurant of your choice !

REAL ESTATE & Internet
Whenever we put a house on the market, sellers will ask us " Where will you advertise it ?" This is THE most common question that we hear. While advertising is very important, alot of sellers do not realize the expenses that go with selling a house. Website Advertising especially is very expensive. REALTOR.com quotes that 79% of the home buyers are shopping 6 weeks in looking for a home. Out of the 6 weeks, 4 of those weeks are looking online for a home. We also advertise our homes in over 2000 websites such as Realtor.com, Yahoo Classifieds, Trulia, I-House, Postlets, Harmon Homes and many more. View our Listings Click Here

Mortgage Rates
U.S. averages as of Oct. 13, 2008:

30 yr. fixed:   7.750 %
15 yr. fixed:   6.750 %
1 yr. adj:        8.375 %
Click Here for a Home Loan

Is now the time to Buy ? Are you wondering if now is the time to buy a house ? With interest rates as low as they are, this is probably one of the best markets for buyers. If you are thinking of buying a house - listen to one of the wealthiest men in America and see what he says: Donald Trump Video

Wondering What Your Home Is Worth?

Let me show you.

International Real Estate Certification
"Selling homes locally and marketing globally" is now our new slogan. With our new International Real Estate Specialist ( IRES ) Designation we are now able to sell your home not only in the Dallas-Fort Worth MLS System but anywhere in the world. That means that by co-brokering your listing with other Realtors worldwide - we can put your home on MLS Database sytems literally all over the world. Imagine having your home marketed to in Germany, Italy, Belize or Autralia...The possibilities are endless. Looking for a 2nd Home ? We can also assist you in a second home in any country or state. FACT - 1 out of every 7 Homeowners in Canada own a second home. Do you know where most of them own that second home? USA ! For more information : Call Robert J Russell, REALTOR, IRES 972-679-9029 today.

REAL ESTATE TV ! Visit this site to see up to date Real Estate News Click Here

Foreclosures More than 635,000 foreclosure filings were reported nationwide - one for every 196 households. The filings include everything from default notices to auction sale notices to actual bank repossessions. Want to see a list of available houses for sale that are HUD properties ? FREE LIST OF FORECLOSURE HOTLINE 972-355-3568

HOT INTERNET WEBSITES
Looking for some great Internet Websites to get valuable information? Here are some links we thought you would enjoy ! My Blog! Things to do in Dallas Search the MLS for a Home Have you seen that movie ? Be a better you Video Halloween Events

Suggested Links Below are links to help you if your thinking of Buying or Selling - and a few other helpful links: Buyers Tips Sellers Tips Homeowners Tips Real Estate Terms Mortgage Answers Looking for that Special Home Register for $1000 Give-away ! Low Cost Health Insurance !

Need a Speaker ?

If you own your own business or you are self employed, find out how you can promote your business with little or no money.

Find out how to get a Speaker to come to your next Engagement

Click Here for the Video

When is your Birthday ?

On behalf of the We Did It Again Group - we want to send you a birthday card when your birthday comes up - so will you please click on the link and give us your Birthday and Anniversary ?

CLICK HERE!

Insurance Online!

The Federal Government announced that approximately 40 million Americans are without Health Insurance. While these number flucuate every month - it makes you wonder if people just don't know where to look at apply.

InsurancePricedRight.com is the website to go to for Online Insurance quotes, compare coverage, find your doctor, and apply online. It's simple and takes less than 15 minutes.

READ MORE > > >

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1. What is the Real Offer
2. Reject the Buyer's First Offer
3. Counter-Offer Strategies
4. Handling Buyers' Contingencies
5. Sell Fast and For More $
6. Getting the Best Price
7. Property Inspection

Buyers: Successful Offers:
1. Limit the Deadline to Your Advantage
2. Use Contingencies Wisely
3. Demand Inspections and Disclosures
4. Negotiating for Your Interest
5. Buying a Brand New Home
6. Choosing a Lender
7. Avoid Hidden Buyer's Fees

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Real Estate News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.

Visit us online: Robert J Russell 972-679-9029 www.robertjrussell.com www.homesinflowermound.net www.dfwhomeforsale.com www.wediditagaingroup.com www.helpyoufindahouse.com www.wediditagainteam.com robertrussell.point2homes.biz New Construction website Luxury Homes website Get Information about: * Pre-Owned Homes * Foreclosure Resale * Investment Property * New Construction * Homes outside U.S. Need Insurance ? www.InsurancePricedRight.com Texas Insurance Website * Health Insurance * Life Insurance * Short Term Health * Dental Insurance * Rx Discount Cards * Vision Plans * Health Discount plans Coming Soon !!! * Car Insurance * Homeowners Insurance

Robert J. Russell, IRES, REALTOR, Insurance Broker - wediditagaingroup@yahoo.com - 972-679-9029

How do you promote yourself ?

Wed, 08 Oct 2008 16:43:12 -0500

Pending sales hit 14-month high

Wed, 08 Oct 2008 16:38:21 -0500

Real estate brief

By Inman News, Wednesday, October 8, 2008.

Pending sales of U.S. resale homes rose 8.8 percent in August compared to the same month last year, the National Association of Realtors reported today, rising to the highest level since June 2007.

The index offers an indication of future sales, as it measures the volume of signed contracts for sales transactions that have not yet closed -- sales are typically finalized within one or two months of signing, though some deals fall through before the transactions are closed.

"It's unclear how much contract activity may be impacted by the credit disruptions on Wall Street, but we're hopeful most of the increase will translate into closed existing-home sales," said Lawrence Yun, NAR chief economist, in a statement.

NAR's Pending Home Sales Index reached 93.4 in August -- an index level of 100 is equal to the average level of contract activity in 2001, which was the first year to be examined for the index and first of five straight record years for sales of resale homes.

Regionally, the index rose 37.8 percent in the West, 6.6 percent in the Midwest, 2 percent in the Northeast and sank 2.1 percent in the South in August compared to the same month last year. The nationwide index rose 7.4 in August compared to July.

For more information about Real Estate visit: http://www.robertjrussell.com or http://www.dfwhomeforsale.com

Check out our Virtual Tours for Houses For Sale !!

Fri, 03 Oct 2008 07:23:50 -0500

Do you have buyers in the DFW Area ? Here are some houses to see !

click to view	Murphy Tx Home ( www.realtor.com ) 317 Crepe Myrtle Ln. Murphy, TX	$368,000	5 Bed 4.5 Bath	4,327 sq ft
	Colleyville Home ( www.realtor.com ) 2301 Arbor Trail Colleyville, TX	$314,850	4 Bed 2.5 Bath	2836 sq ft
	North Richland Hills Home ( www.realtor.com ) 5716 Hilton Head Dr. North Richland Hills, TX	$238,000	4 Bed 3.5 Bath	2,876 sq ft
	Flower Mound Home www.realtor.com 5217 Timber Trail Dr Flower Mound, TX	$195,000	4 Bed 2 Bath	2,152 sq ft
	Wylie Texas ( www.realtor.com ) 3504 Oleander Drive Wylie, TX	$183,977	3 Bed 2 Bath	2020 sq ft
	Cedar Hill www.realtor.com 1530 Baker Dr. Cedar Hill, TX	$179,900	4 Bed 2 Bath	2,314 sq ft
	South Arlington Home www.realtor.com 6311 Fox Hunt Dr Arlington, TX	$179,900	4 Bed 2 Bath	2,112 sq ft
	Euless Home! ( www.realtor.com ) 212 Laurel Lane Euless, TX	$165,900	3 Bed 2 Bath	1,809 sq ft
	Arlington Home ( www.realtor.com ) 2104 Sophie Ln. Arlington, TX	$148,500	5 Bed 3 Bath	2453 sq ft
	Ft Worth Texas www.realtor.com 2428 Big Spring Dr. Fort Worth, TX	$134,900	3 Bed 2 Bath	1628 sq ft
	Dallas For Sale www.realtor.com 5564 Hunters Bend Ln. Dallas, TX	$132,000	3 Bed 2 Bath	1335 sq ft
	Princeton Texas www.realtor.com 1107 Grace Drive Princeton, TX	$128,000	3 Bed 2 Bath	1,601 sq ft
	Shady Shores Home www.realtor.com 323 Oakwood Circle Shady Shores, TX	$104,000	3 Bed 2 Bath	1169 sq ft
	1 Acre in Venus Texas ( www.realtor.com ) 3209 Westview Dr. Venus, TX	$82,000	3 Bed 2 Bath	1216 sq ft
	Residential - 5 Acres www.realtor.com 0 Overlook Bluff Dale, TX	$44,900
	Residential - 3 Acres www.realtor.com 4175 Skyline Bluff Dale, TX	$44,900

Study: Dallas-Fort Worth has lowest risk of home price declines

Thu, 02 Oct 2008 04:57:51 -0500

10:46 AM CDT on Wednesday, October 1, 2008By STEVE BROWN / The Dallas Morning News
stevebrown@dallasnews.com

The Dallas-Fort Worth area is tops in the latest forecast of future home values.

The North Texas cities were ranked as the least likely in the country to experience a sustained home price decline in mortgage insurance giant PMI Group's newest report.

The D-FW area has less than a 1 percent chance of having lower home prices in two years, according to PMI Group's new home price risk study.

The California-based insurer ranks about 50 U.S. cities based on the likelihood of home price declines.

All of Texas' major markets were at the bottom of PMI's ranking which was released Wednesday.

"Texas is looking better than anybody else," said PMI economist David Berson. "The economy is dong much better in Texas than other places.

"And you didn't get the huge run-up in prices that needs to be worked off."

Even so, home prices in North Texas are down about 2.5 percent from a year ago, according to the latest estimate from Standard & Poor's Case-Shiller Index.

But the PMI study takes a longer view, predicting where home prices will be in 24 months.

The insurer's new risk assessment warns that there is almost a 100 percent chance that home prices in markets including Fort Lauderdale, Riverside, Calif. and Orlando will be lower in two years. Big home price declines are also likely in many other Florida, California and Nevada markets.

"This down cycle in housing is very different from those in the past," said PMI spokesman Nate Purpura. "Typically, employment tanks and foreclosure follow. "In this cycle the foreclosures came first, then the unemployment, and now we're hitting a second wave of foreclosures brought on by the unemployment," he said.

"It's essentially a double-whammy in the housing market and we're likely still somewhere in the mid-point."

Markets with the most and least risk of a home price decline, based on price appreciation, economic growth and affordability according to PMI Group, one of the country's largest mortgage insurance firms. An index of 100 means there is a 100 percent chance of home prices being lower in that area in two years.
MOST RISKY
Fort Lauderdale, Fla.	99.5
Riverside-San Bernardino, Calif.	99.5
Orlando-Kissimmee, Fla.	99.4
Miami	99.0
LEAST RISKY
Fort Worth-Arlington	Less than 1
Dallas-Plano-Irving	Less than 1
Houston-Sugar Land-Baytown	Less than 1
Pittsburgh	Less than 1
San Antonio	Less than 1
SOURCE: PMI

FREE Real Estate Advice Conference Call - Sat Oct 4th - 10am

Wed, 01 Oct 2008 07:51:54 -0500

I will be hosting a FREE Real Estate Advice Conference Call on Sat Oct. 4, 2008 at 10am Central Time. You will have the opportunity to ask a Licensed Realtor in the State of Texas any Real Estate related question concerning topics such as:

* When is the best time to sell a House ?
* When is the best time to buy a House ?
* Is Staging a house important ?
* Should you buy first or sell first ?

You ask the questions and I will answer them. Calls are anonymous and this is your opportunity to ask all Real Estate related questions.

To get your Dial In Conference Call Number and Access Code - email me at wediditagaingroup@yahoo.com

Limited Attendance - RSVP Today!

If you have any questions - call me 972-679-9029 or visit http://www.robertjrussell.com

How It Happens: Identity Theft 101

Fri, 05 Sep 2008 08:34:24 -0500

Your Identity's Been Stolen

Finding out your identity has been stolen is a shock. Everyone finds out the hard way. You may apply for a loan only to be turned down because your credit - which you thought was immaculate - is in shambles. Or you receive a past-due notice from the IRS for thousands of dollars on wages you never earned.

It doesn't matter how you find out. When you realize your identity has been stolen you'll experience every emotion known to man. It starts with shock and quickly graduates to anger but before it's over you'll feel downright defeated and probably ashamed, too.

There's no reason to feel ashamed. But most people do, because they have no idea how their identity was compromised. For example, a news anchor in Nashville, TN learned his identity had been grabbed more than a decade before he found out about the crime. And the only reason he found out was because the illegal immigrants that were using his name and Social Security Number fell on hard times and couldn't pay the bills they had created using the false information.

Imagine someone using your identity for more than 10 years without your knowledge. It's a tough fact to learn, but it happens more often than any of us would like to think.
It's More Than Simple Credit Card Fraud

The problem with identity theft is that in most cases, it takes a while to learn your identity has been nabbed. True identity theft - when someone steals your personal information for the purpose of creating or taking over accounts that belong to you or even to become ‘you' - is a crime that can take some time to complete. Thieves must first acquire the right information about you, and then the accounts have to be changed or established.

What you hear called identity theft most often is actually credit card fraud. That's when someone steals account information with the purpose of using your credit accounts for fraudulent charges. Credit fraud might show up on your credit card statement within hours of the actual theft happening. But with identity theft, it can take 30 days to 10 years or longer for evidence that your identity has been compromised to become evident.

That's because an identity theft has a different purpose in mind. The thief isn't looking for a quick buck. Instead he or she is looking for a long-term pay-off on what can sometimes be a time consuming investment.

The long-term advantage to identity theft can be pretty impressive. A thief gathers identifying information about you which can then be used to secure mortgages, open new credit accounts, set up utility accounts, and even land jobs. Most often, this type of identity theft is used to supply illegal immigrants with new, legal identities in the US. And since most immigrants really want to be honest, upstanding citizens, they'll use your information responsibly.

It's usually some unexpected problem that outs the theft - loss of a job, a misunderstanding of tax laws, legal problems, or even a tragedy that leaves unpaid bills in your name. But the methods used to gather your information are the same as those used for credit card fraud, which is why the two crimes are usually lumped under the heading ‘Identity Theft.'
How Identity Theft Happens

At the core, identity theft and credit card fraud are both results of the same actions. It starts when a criminal gains access to your personal information. That information includes your full name, date of birth, Social Security Number, address, telephone number, and the names of your family including parents and children.
In today's world, a lot of that information can be gained with little more than digging through your trash and even engaging you in conversation in the grocery store line. For example, identity thieves will go through your trash and gather credit card statements, bank statements, and personal correspondence. This documents usually contain nearly everything they need.

To get the last few bits of information, a conversation at the grocery store or even a telephone call to your home usually works. These criminals are great con artists. They know what questions to ask and how to phrase those questions to get you to spill your guts. Before you know it, you've told someone you don't even know your whole life story.

After that, all that's left is to begin the process of creating another you on paper. They create new accounts, order copies of your Social Security card and birth certificate, and secure a new job in another state. And it's done. Someone else who looks nothing like in you in real life is your exact duplicate in the paper and cyber world.

Of course, that's not the only way to get your information. Phishing emails, spoofed web sites, telephone surveys, and even old-fashioned breaking and entering or purse/wallet snatching are also methods that identity thieves use. Even your medical records and employee records at your place of employment put you at risk.

Most concerning is the places that aren't obvious where your identity can be snatched without notice. Remember the news anchor from Nashville? After a lot of investigating on his own, he eventually learned that his identity had been stolen when he applied for a private pilot's license.

Others have learned that family or friends sold their identifying information. And many never figure out what happened. The one consistent factor in every case of identity theft is that it happens when you least expect it, usually in a place where you feel safe.

By Jerri Ledford, About.com