Real estate exam practice question 34 - 03/31/11 03:33 PM
A prospective seller asks a salesperson to recommend a listing price
for a property. The salesperson best course of action would be.
a. advise the seller to have the house appraised, and recommend 3
appraisers...
b. give the seller a ball park estimate of value.
c. use the cost approach to determine value.
d prepare a competitive market analysis.
… (5 comments)

I will be teaching a Principles 2 class next week - 03/29/11 02:20 PM
On Monday April 4th - Thursday April 7th I will be teaching Principles 2 at Champions School of Real Estate in Plano. 
This is one of the four required courses and a great place to jump in and get started.
The information we will cover consist of: an introduction to the Texas Real Estate License Act, Agency, Contracts, Mortgages, Finance, Closing, Appraisals, and leaseing. 
The class goes from 6:00 pm - 9:45 p.m., each day.  Thinking of getting you real estate license?  Well why not get started with this class.
For more information call Champions at 972-867-4100
… (0 comments)

Mingas a Tex Mex breakfast - 03/29/11 12:51 PM
Mingas  are a Tex-Mex popular breakfast dish, usually made with scrambled eggs and  torn corn or flour tortilla's cooked with the eggs. Other ingredients are added according to ones taste.
We like this combination
3 corn tortillas 8 eggsSalt and pepper to taste (kosher or sea salt works well)1 tablespoon olive oil or butter1 small red onion, chopped2 serrano chiles, seeded, deveined  and sliced lengthwise, then cut into small pieces 3 tomatoes, seeded and diced1 bell pepper, choppedDash of Tabasco1/2 cup chopped fresh cilantro½ cup grated cheeselarge limes cut into wedgesPico de gallo
Toast tortillas in a dry skillet until blistered … (8 comments)

Did I just witness a new trend? - 03/29/11 11:42 AM
I had the privilege of teaching a great class this past weekend.
It was a Principles 1 class, one of the four required courses to get a real estate license in Texas.
It was a small class, only 4 students.  Out of the 4 three were school teachers.  One retired after teaching over thirty years in the Dallas Independent School District.  When I asked him how long he had been retired he did not hesitate with his answer "fourteen months".  He had taught fifth grade math.
The other two were active teachers.  They both taught interior design.  All three indicated they … (6 comments)

CAO Gold Churchill, a cigar well worth the price - 03/29/11 10:53 AM
Just received a box of CAO  Gold Churchill maduro.  This is a 7 inch 48 ring size smoke.
The CAO Gold series, introduced in 1996, has received some of the highest ratings in the industry.
This cigar features an Ecuadorian Connecticut seed wrapper, along with aged Nicaraguan binder and filler.
Smoked the first one on Sunday, and very pleased.  This is a medium bodied smoke and the Churchill is available in either natural or maduro.
I am not sure why I have not tried this smoke before now.  For whatever reason I drifted away from CAO smokes; however I am back … (2 comments)

Real estate exam practice question 33 - 03/28/11 03:18 PM
A couple signed a lease on an apartment for a period of 1 year. The
lease does not contain an automatic renewal clause. They have
decided not to renew their lease. How much notice must they give
to comply with the lease term?
a. 30 days notice.
b. no notice is required.
c. all leases must automatically renew.
d. ask the landlord how much notice is required.
… (0 comments)

Real estate exam practice question 32 - 03/28/11 03:09 PM
An owner wishes to have a survey made of a property . It is 140 feet
on the front, 189 feet on the north side, 120 feet on the back and 186 feet
on the south side. It is not in a recorded subdivision. Which survey
method would be most appropriate for the parcel?
a. lot and block
b. lot block and subdivision
c. government survey
d. metes and bounds
… (3 comments)

Real estate exam practice question 31 - 03/28/11 02:44 PM
With regards to a Deed of Trust all of the following are true except.
•a.       It is a mortgage, with a borrower, lender and trustee being the parties. ..
•b.      It contains a power of sale clause, and an acceleration clause.
•c.       It provides for a non-judicial foreclosure.
•d.      To foreclose on the property the lender would require a judicial process.
… (0 comments)

I will be teaching an Agency class this week. - 03/28/11 02:35 PM
On Monday March 28th - Thursday March 31st I will be teaching Agency at Champions School of Real Estate in Plano. 
This is one of the four required courses and a great place to jump in and get started.
The information we will cover consist of: Introduction to Agency, Senate Bill 489 and Intermediary, Principal - Agent relationships, Agency agreements, Employment Law, and The Texas deceptive Trade Practices Act. 
The class goes from 6:00 pm - 9:45 p.m., each day.  Thinking of getting you real estate license?  Well why not get started with this class.
For more information call Champions at … (0 comments)

Real estate exam practice question 30 - 03/28/11 02:28 PM
Mr. Kneblick  owns a McDonalds located at a popular exit on a major interstate highway.  Business at this location is tremendous.   The state department of transportation has announced it is going to close this exit and relocate the exit one mile past the current exit.  This move will be devastating to Mr Kneblicks business.  The closing of this exit ramp would be a good example of
•a.       Economic obsolescence
•b.      Inverse condemnation'
•c.       Functional obsolescence
•d.      Physical depreciation
… (1 comments)

Real estate exam practice question 29 - 03/25/11 03:33 PM
John, Mary and Justin are owners of a piece of property as Joints Tenants. All of the following are false except.
•a.       John could have a larger ownership in the property then Mary and Justin.
•b.      This type of ownership is an estate of inheritance.
•c.       This type of ownerships is not an estate of inheritance.
•d.      This is ownership without right of survivorship.
… (6 comments)

Real estate exam practice question 28 - 03/22/11 06:31 PM
To be valid, a deed must be                            
a. signed by the grantor.
b. signed by the grantor and grantee.
c. signed and dated
d. all of the above.
… (6 comments)

Real estate exam practice question 27 - 03/21/11 06:30 PM
All the following is not a methods of transferring legal title to real property
a. a will.
b. a patent.
c. a sales contract.
d. eminent domain.
… (8 comments)

I will be teaching a Principles 1 class this weekend - 03/21/11 02:59 PM
On Saturday March 26st - Sunday March 27th I will be teaching Principles 1  at Champions School of Real Estate in Coppell. 
This is one of the four required courses and a great place to jump in and get started.  The information we will cover consist of The Texas Real Estate License Act, The Texas Real Estate Commission, Estates in Land, Deeds and Title, Agency, Contracts, Appraisals, Closing, Math, and Federal Law.
The class goes from 8:30 am - 4:45 p.m., each day.  Thinking of getting you real estate license?  Well why not get started with this class.
For more information … (0 comments)

Keller Williams Dallas Premier to host a free class on working expires - 03/21/11 02:49 PM
Last week I announced that Keller Williams Dallas Premier located at 12700 Preston Road, Dallas Texas has declared March is listing month.  Our motto for the month is "List To Last"
We will be hosting a class on working Expires this Thursday, March 24 at 1:00 p.m. 
Everyone in the area is invited to attend this free training session
Hope you can join us.
… (3 comments)

Real estate exam practice question 26 - 03/21/11 02:38 PM
Prospective buyers made an offer on a property. The seller did not accept, but made a counteroffer in writing and signed. The prospective buyers signed the counteroffer and their real estate agent delivered their acceptance to the seller agent.  The buyer then finds a house they prefer and made an offer on that house, which was accepted. Which of the following is true?
a. the statute of fraud will not allow a buyer to be bound by two contracts.
b. since the contract was delivered to the seller's agent it is really not accepted.
c. both contracts are valid.
d. the … (11 comments)

Real estate exam practice question 25 - 03/21/11 12:30 PM
During the listing presentation, the seller questions the amount of commission to be paid.  The agent should respond.
a. commissions in general are typically set at 6 per cent.
b. everyone in the area charges the same commission.
c. this is just what we have always charge .
d the amount of commission is negotiable.
… (4 comments)

Real estate exam practice question 24 - 03/21/11 11:18 AM
A prospective seller asks a salesperson to recommend a listing price for a property. The salesperson would.
a. advise the seller to have the house appraised, and recommend 3 appraisers...
b. determine the value of the property by dividing the net income by the rate of return.
c. use the cost approach to determine value.
d prepare a competitive market analysis.
… (4 comments)

Real estate exam practice question 23 - 03/21/11 11:13 AM
 A borrower has defaulted on the mortgage. The mortgage contains an acceleration clause. This permits the lender to
a. submit a claim for payment to the Federal Housing Authority.
b. demand immediate payment of the entire note.
c. accelerate the interest rate but only by the negotiated amount.
d. add additional interest on the next month's payment
… (4 comments)

Real estate exam practice question 22 - 03/21/11 10:28 AM
 If conditions for purchase are included in a deed and these conditions are violated, what is the penalty?
a. a $4,000 fine and or a prison term of not more than 6 months..
b. the Fair Housing law prohibits conditions in deeds.
c. a court will issue an injunction to enforce the conditions.
d return the property to the original owner.
… (2 comments)

Real estate exam practice question 21 - 03/21/11 10:20 AM
A homeowner has negotiated with a neighbor to obtain the permanent right to cross over the neighbors land to gain access to his land.. He pays the neighbor $5,000 for the right of access and receives a deed and has it recorded. This is an easement
a. by de facto.
b. by estoppel.
c. in gross.
d appurtenant.
… (5 comments)

Jimmy's Food Store Wine Tasting on Thursday, March 24th - 03/21/11 10:02 AM
On March 24th Jimmy's Food Store will host its next tasting with Francesco Visani who is the Marketing Manager of Marchesi Antinori Wines.  Francesco born in Florence and raised in Italy and France.knows the wines of Italy. 
Featured wines from Tuscany, Umbria and Puglia, include. 
Santa Cristina Pinot Grigio
Cervaro Della Sala -
Tormaresca Neprica
Peppoli Chianti Classico -
Bramasole Syrah -
Badia a Passignano -
Piandelle Vigne Brunello -
All selected wines will be specially priced.
A large antipasti and pasta with spicy sausage and broccoli rabe will be served.
Price is $38 per person.  Check it is 6:15 and … (2 comments)

Real estate exam practice question 20 - 03/21/11 09:49 AM
Plottage is
a. sub dividing rural property under a provision of the government survey system.
b. plotting the direction of growth in a comprehensive plan under a municipalities police powers.
c. an increase in value or usability of individual parcels when joined with other parcels.
d. sub dividing urban property by use of metes and bounds.
… (3 comments)

Real estate exam practice question 19 - 03/19/11 12:12 PM
To be valid, a deed must be
a. signed by the grantor.
b. signed by the grantor and grantee.
c. signed and dated
d. all of the above.
… (2 comments)

Real estate exam practice question 18 - 03/18/11 11:57 AM
Permission to use another's property that can be revoked at will is
a. an easement appurtenant.
b. a license.
c. an encroachment.
d. an easement in gross
… (1 comments)

Real estate exam practice question 17 - 03/18/11 09:29 AM
 A Texas sales associate chooses not to renew his license at the appropriate time. His license will
a. expire.
b. be revoked by TREC.
c. be inactive.
d. remain active until the broker returns the license to TREC.
… (0 comments)

Real estate exam practice question 16 - 03/17/11 11:01 AM
Who can receive compensation directly from an owner?
a. a sales associate, if licensed with a broker
b. a broker
c. a sales associate who secured the listing
d. all of the above
… (13 comments)

Real estate exam practice question 15 - 03/16/11 02:56 PM
A homeowner has negotiated with a neighbor to obtain the permanent right to cross over the neighbors land to gain access to his land.. He pays the neighbor $3,000 for the right of access and receives a deed. Without the right to cross over the neighbors land this land owner would be land locked.  This is an easement
a. by de facto.
b. by estoppel.
c. in gross.
d appurtenant.
… (4 comments)

Real estate exam practice question 14 - 03/16/11 02:49 PM
A buyer is applying for a loan to finance a home in an area she finds very desirable.  Her loan officer tells her that she should try to find another location, because his company makes it a business practice not to lend in that area.  The lender may be involved in the practice of.
a. blockbusting.
b. redlining.
c. steering.
d. reverse steering.
… (4 comments)

Real estate exam practice question 13 - 03/15/11 10:58 AM
 All of the following about Regulation Z are false except
a. The Federal National Mortgage Association uses it to publish its loan conforming standards.
b. It requires full disclosure about a loan a trigger term such as down payment amount is advertised.
c. It requires disclosure of estimate of settlement costs by the lender.
d. Requires all ad's to state only cash price or annual percentage rate.
… (2 comments)

Real estate exam practice question 12 - 03/15/11 10:50 AM
A seller tells a real estate licensee that he does not want his house shown to ethnic buyers. The sales associate should say
a. "No problem, our office never gets buyers like that."
b. "I will try my best to show those buyers other houses."
c. "I cannot represent you if you expect me to discriminate."
d. "I believe the customer is always right"
… (3 comments)

Real estate exam practice question 11 - 03/15/11 09:10 AM
Jim, Pat and Kathy were co-owners of a parcel of real property. Jim has a 55 percent ownership, Pat owned a 25 percent ownership, and Kathy owned a 20 percent ownership.  Pat died, and his co-ownership was willed to his daughter.  The parties owned the property as
a. tenants by the entireties.
b. tenants in common.
c. tenants at will.
d. joint tenants.
… (4 comments)

Real estate exam practice question 10 - 03/15/11 09:02 AM
Susie Green is a broker and accepts a security deposit made out to her firm for $3,500. What is she required to do?
a. She must place it in her personal account.
b. She must place it in her business account no later than the end of the next business day.
c. She must place it in her trust account within two business days.
d. Since the check is less than $5,000 she has no requirements.
… (3 comments)

I will be teaching Principles 1 next week - 03/14/11 06:15 PM
On Monday March 21st - Thursday March 24th I will be teaching Principles 1  at Champions School of Real Estate in Plano. 
This is one of the four required courses and a great place to jump in and get started.  The information we will cover consist of The Texas Real Estate License Act, The Texas Real Estate Commission, Estates in Land, Deeds and Title, Agency, Contracts, Appraisals, Closing, Math, and Federal Law.
The class goes from 6:00 pm - 9:45 p.m., each day.  Thinking of getting you real estate license?  Well why not get started with this class.
For more information … (0 comments)

Real estate exam practice question 9 - 03/14/11 02:25 PM
Gregory is a broker in Houston, and has lunch with Gilda, another broker in his area.  They agree that, effective April 1st both companies will begin charging 7.5% commissions on all residential properties. Which is correct?
a. This is legal if the sellers and buyers agree to pay.
b. This is a violation of TREC rules.
c. This is a violation of truth in lending.
d. This is a violation of anti-trust laws.
… (2 comments)

I will be teaching a prep class on March 22nd, and 23rd - 03/14/11 02:18 PM
On Tuesday March 22nd and Wednesday March 23rd I will be teaching the salesman and broker prep courses at Champions School of Real Estate in Plano
The class goes from 8:30 a.m - 4:45 p.m., and on Wednesday you will have the opportunity to take a mock test. Your results are a good indication if you are ready to take the real state test.
 
This is an excellent course to prepare you for the state test. For more information call Champions at 972-867-4100
… (2 comments)

Real estate exam practice question 8 - 03/14/11 01:50 PM
Which happens to the monthly payments on a fixed payment mortgage?
a. Principal and interest portions of each payment remain the same over the life of the loan.
b. Interest portion of each payment increases.
c. Interest portion of each payment decreases.
d. Principal is reduced each month; however the interest rates change annually.
 
… (5 comments)

Real estate exam practice question 7 - 03/14/11 09:29 AM
Which of the following is most correct?
a. All sales associates must work for a broker.
b. All brokers must have sales associates.
c. All brokers are member of the National Association of Realtors®.
d. All Realtors must be members of the National Association of Realtors®.
… (10 comments)

Real estate exam practice question 6 - 03/14/11 09:14 AM
An Oklahoma lawyer and a Texas broker work together to sell property in Texas for a friend of the lawyer. What can the Oklahoma lawyer receive?
a. a commission provided he doesn't come to Texas
b. a referral fee if he doesn't come to Texas
c. a commission since Texas reciprocates with Oklahoma.
d. no part of the commission
… (2 comments)

Real estate exam practice question 5 - 03/10/11 03:54 PM
Lien theory state means that the mortgage
a. creates a lien on the property, with the mortgagee having title.
b. the instrument used to convey ownership.
c. is a lien on the property, but title is given to the mortgagor.
d. creates a lien on the property, but the state has the title.
… (3 comments)

Real estate exam practice question 4 - 03/10/11 02:15 PM
In Texas a sales associate with a sponsoring broker may.
a. perform like a broker would with permission from his broker.
b. manage a branch office, with or without a broker on site.
c. not manage a branch office without a brokerage license.
d. manage an office as long as they never represent a buyer or seller.
… (2 comments)

Real estate exam practice question 3 - 03/10/11 01:31 PM
Which is not correct?
a. A licensee may be paid a commission only by his broker.
b. A licensee may not work for more than one broker.
c. A real estate licensee may not provide a CMA for a single family residence unless they are a licensed appraiser.
d. In Texas a licensee first renewal must complete two 30 hour core courses.
… (4 comments)

Real estate exam practice question 2 - 03/10/11 12:50 PM
In Texas which of the following transactions would require the seller to provide a buyer with a sellers disclosure
a. an estate sale
b. an out of state investor who have never been in the property
c. a new home sale
d. a foreclosure
… (3 comments)

Real estate exam practice 1 - 03/10/11 12:38 PM
A seller receives three offers on his property.  The best advice their agent could give them would be 
a. make counter offers on all three
b. do nothing
c. advise all 3 there are multiple offers and invite them all to submit new offers
d. advise all 3 the terms of each offer and invite them all to submit a new offer.
… (3 comments)

Up In Smoke Vista Ridge to host an Oliva cigar event - 03/10/11 12:34 PM
Up In Smoke will be hosting an Oliva cigar event at their Vista Ridge located at 2403 S Smmons Freeway in Lewisville. 
There will be some great Oliva cigars at great pricing, plus refreshments will be provided. 
This event will take place on March 24th from 4:00 p.m. to 8:00 p.m. 
If it is at Up In Smoke you know it will be a good time.
… (0 comments)

Keller Williams Dallas Premier says March is List To Last month - 03/10/11 10:24 AM
Keller Williams Dallas Premier located at 12700 Preston Road, Dallas Texas has decided that March is going to be listing month.  We are calling March "List To Last"
We have scheduled three training session on how to get more listings for your real estate business.
On March 17 we will learn about working FSBO's.  On the 24th working with expires, the lowest of the hanging fruit. On the 31st working your farm.  Each class will go from 1 - 3p.m. and everyone in the area is invited.
Come join us.
… (0 comments)

I will be teaching Prin 1 next week - 03/10/11 09:44 AM
On Monday March 14th - Thursday March 17th I will be teaching Prin 1  at Champions School of Real Estate in Coppell. 
This is one of the four required courses and a great place to jump in and get started. 
The class goes from 6:00 pm - 9:45 p.m., each day.  Thinking of getting you real estate license?  Well why not get started with this class. 
For more information call Champions at 972-316-2020
… (1 comments)

Why does the lender need title insurance when the buyer is getting a policy? - 03/10/11 09:25 AM
Ever had a buyer question why they have title insurance and then they must purchase a policy for their lender?
It really appears that this is a big waste of money and adds to the buyers total cost of purchase a house.
Well we are talking about two different issues here.  The owners policy insures the owners title, and the lenders policy insures the validity and priority of the lenders lien. 
I just wonder why the lender does not pay for that coverage.
… (2 comments)

Jimmy's Food Store wine tasting March 14th - 03/10/11 09:13 AM
Here is what they guys have planned.  Aldo Vacca director of Produttori del Barbaresco a northern Italy winery will be featuring some great red wines.
Some nice 2004 and 2005  bottles have been selected for your enjoyment.
Also Jimmy's will be featuring great prices on the following items: 
 Langhe Nebbiolo - $23.99 + tax
 Barbaresco Torre - $34.99 + tax
Barbaresco Riserva's
Asili Riserva - $64.99 + tax
Moccagatta Riserva - $64.99 + tax
Ovello Riserva - $64.99 + tax
Pora Riserva - $64.99 + tax
Rio Sardo $64.99 + tax
A large anti pasta will be served with the great wines.  … (0 comments)

Setting up a new group - 03/09/11 08:44 AM
I keep getting errors when trying to set up a new group in Active Rain.
Anyone have any suggestions?
… (4 comments)

I will be teaching a contracts class this week - 03/07/11 02:38 PM
On Monday March 7th - Thursday March 10th I will be teaching Contracts at Champions School of Real Estate in Plano.
New contracts changes went into effect in Texas on March 1st so this will be a very timely class.
The class goes from 6:00 pm - 9:45 p.m., each day. Contracts is one of the required courses to get your license so come join us.
For more information call Champions at 972-867-4100
… (3 comments)

I will be teaching Principles 1 this weekend - 03/01/11 06:14 PM
On Saturday, March 5th and Sunday March 6th I will be teaching Principles 1 at Champions School of Real Estate in Plano.
The class goes from 8:30 a.m - 4:45 p.m., each day. This class is required for anyone getting a salesperson  license in Texas. Thinking of getting your then come join us as this is a great course to start with.
For more information call Champions at 972-867-4100
… (2 comments)

 

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