SanAntonioTXblog

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I've been working on how to communicate more effectively and efficiently with my current clients and potential customers. Take a look at the top right of this web blog - we've now added the ability to instant message us from this blog for a faster response from my team or you can send an instant message directly to ScottJRealtor from AOL or Yahoo or MSN to my phone or text my Sprint cell number of 2103649434. We are committed to being available during all business hours and replies to you requests are handled as soon as possible.

Fannie Mae & Freddie Mac (F&F) - and us taxpayers

Everyone, and their brother, has heard the news that Fannie & Freddie have been placed “conservatorship”. Like it or not, the government agreed to pump billions of dollars into Fannie Mae and Freddie Mac and assume responsibility for trillions of dollars of their debt, while handing control of the companies to federal regulators and eliminating stockholder equity. Why? Everyone is hoping that it restores confidence in the mortgage markets. The seizure of F&F will cost taxpayers billions of dollars! What has it done already? * Ginnie Mae securities (backed by FHA & VA loans) are better by .75 in price * Fannie Mae securities are better by over 1 point in price * Treasury prices are worse by .75 in price. * The spread between conforming mortgage-backed securities and Treasury securities has dropped dramatically! For example, the 5-yr Treasury Note is worse in price by almost a point, but a 6% mortgage is better by .75 in price. * Fannie’s trading desk suspended operations, temporarily, but is now back in business. * The US Government announced that they will make a market in trading MBS securities. * The stock markets around the world are rallying on the news. * F&F must cease lobbying efforts. * Debt interest is expected to be paid. * Shareholder dividends are expected to cease. * Future F&F losses would be covered by the US Government, and in turn, the taxpayer. * The Treasury will both lend to F&F. * FHFA will gain management control of the two companies and the Treasury will acquire $1 billion in preferred shares in each company. * Many small banks had capital tied up in the preferred shares of Fannie and Freddie, depending on the dividends for reliable income, and the value of those shares to meet the capital levels required by regulators. Apparently either gone or under consideration. Bottom line, the government’s takeover should take out higher rates due to the risk that have been associated with Fannie and Freddie. Hopefully, we should all see more volume in new home sales and refinances. Talk to a lender you trust to see how it affects you personally. I've asked one of my preferred lenders, Jeff Hamilton President of United Lending, whom I trust to start sharing info via my blog so you should see articles appearing often related to the financing side of owning a home. Personally, I'm doing my homework before going to the polls in November!

New Home/Remodeling County Inspection Program began 9/1/08

Many buyers don't know they should use a REALTOR on the purchase of their new home, below is a prime example of why they should work with someone who stays up to date on the latest requirements. My services are paid by the home builder not the buyer (the price doesn't go up for using a REALTOR, it may even go down). I know we have several subdivisions nearby where this new law will apply, if you have any questions, click on the links provided within the article or just call me. New Home/Remodeling County Inspection Program Law Takes Effect September 1, 2008 for Inspections designed to catch problems before homebuyers move in House Bill 1038, passed by the 2007 Legislature, created a County Inspection program for all homes built or remodeled if the work was performed in unincorporated areas or in cities that do not offer municipal inspections. In anticipation of the program’s Monday start date, the Texas Residential Construction Commission has been designing the program rules and signing up fee inspectors. The three new inspections include a foundation inspection before concrete is poured, a framing and mechanical systems assessment before wallboard is installed and a final inspection upon completion. The inspections must be performed by a fee inspector that is either a licensed engineer, a registered architect, a professional Texas Real Estate Commission inspector or a third party inspector certified by the Texas Residential Construction Commission. To access a list of builders/remodelers that have already registered with the commission, click here For more information about the county inspections program visit the commission’s website or contact them at 877-651-8722 (TRCC).

Home Warranty Info - Help in making a more informed decision

I don't know about you, but I hate paying for insurance (spending money today for what may/may not occur tomorrow).  Home Warranties are different.  Your most expensive investment can be even more expensive if you fail to plan for unexpected repairs and replacements on some of your home's most critical systems and appliances that can fail from normal wear & tear.  You have a variety of choices now in Home Warranty companies and coverage.  This is not meant to endorse any particular company, but to help you make a more informed decision on if a home warranty is worth your hard earned money.  Click on the highlighted company name to see their answers to Why A Home Warranty? First American or Frequently Asked Questions, American Home Shield , Fidelity National Home Warranty or if you prefer a video try Home Warranty of America. I hope this helps, let me know what you think.