Tuesday, December 16, 2008

Ever notice how most homes are designed to fit the average family, with average needs and average incomes?
But what happens if you're not average? …………..Sterling Oak is a custom home builder in the North Tarrant, South Wise and South Denton Counties.

We believe that houses can be beautiful, but the owner's taste and unique selections make houses homes. And when your house reflects your personality, you feel at home.

At Sterling Oak, we want to help you create your dream home regardless of the size or your budget.

At Sterling Oak each home is constructed the old-fashioned way – through quality construction and a commitment to serving our clients. It is the way homes used to be built and the way Sterling Oak builds them today - with pride and attention to detail. Yet, we rely on our state-of-the-art processes and technology to get you the best products and prices. We are committed to the highest standards in new home construction.

That is why we are designated as a Graduate Master Builder by the National Association of Home Builders and a Texas Star Builder by the State of Texas. Our goal is to build a home you will love every day you live there.We offer innovative designs that are not only flexible, but can reflect your distinctive tastes. And if you want to start from scratch, we can do that as well.We urge you to visit any one of our models and compare us to those of other builders. Once you do, we're confident that you will discover the unbeatable value Sterling Oak offers.

Gary M. Schecter
President

Monday, December 15, 2008

Real Estate Financial News

We’ve reached a juncture in the credit markets where it really doesn’t matter how low interest rates go -- banks are refusing to lend and consumers either have no desire to borrow – or they are in such troubled financial straits they can’t meet the qualification criteria for a loan.

So what’s the Fed to do?

Many believe the Fed will announce in their post-meeting statement tomorrow afternoon (2:15 p.m. ET) that the answer to rekindling economy growth is actually quite simple – print money like crazy.

In a nutshell the idea here is that by flooding the economy with money – banks will ultimately find themselves bursting at the seams with capital – and they will essentially have no other option than to start lending.

As the short-term credit market swings back into action, business confidence will rise, employment will improve and the engines of commerce will roar back to life.

For more information contact:
Silver Oak Mortgage
Lisa Warren
Branch Manager
751 E Southlake Blvd Ste 100
Southlake, TX 76092
office 817-410-2518
fax 817-410-2519

Daily Real Estate News

Sam Zell Predicts
Spring 2009 Housing Recovery

Financial mogul Sam Zell, beleaguered owner of the Tribune Co., which declared Chapter 11 bankruptcy last week, told an Israeli business conference Sunday that the U.S. real estate market will be in recovery by spring 2009.

Zell pointed out that the U.S. population is growing and with fewer than 600,000 building starts in 2008, a million fewer than any of the last 10 years, demand for housing will rise.

Zell blamed the current crisis – at least in part – on ill-considered decisions.

"We are living through our first Blackberry recession where, literally, information is instantly disseminated around the world and people, in effect, respond to it, perhaps, often without any particular caution or attention,” he said.

Source: Reuters News, Ori Lewis (12/14/2008)

Wednesday, December 10, 2008

Extreme Makeover: Keller, TX 76248

http://frontburner.dmagazine.com/2008/12/08/extreme-makeover-house-revealed/

The tentative Build Schedule (all times subject to change):
* Monday, December 8: Knock Day. Media may arrive at 3:45 p.m. for a press conference with the family at 4:00PM is planned for approximately
* at the home site location, 2880 Keller Hicks Road, Keller, TX 76248. Please note: the street will be closed, and security will instruct media members where to park.
* Wednesday, December 10: Braveheart Walk to kickoff of the build. Media check-in is at 8:00AM; Braveheart Walk at approximately 9:00AM. Braveheart Speech by Steve Wall will follow the walk, then demolition will begin immediately thereafter.
* Thursday, December 11: Framing throughout the day, followed by non-stop building for the next several days and nights.
* Monday, December 15: House Reveal, also known as the time for “Move that Bus!”
* Tuesday, December 16: Press Conference at new home. Time for Press Conference will be announced later.

Posted on December 8th, 2008 11:06am by Tim Rogers
Filed under Entertainment, Media, Real Estate, Television

Monday, December 8, 2008

Click here Duncanville,TX for Local Events, Community Corner, Groups & Organizations, Shops & Services, and much more....

Thursday, December 4, 2008

Treasury Department Considers Plan to Lower Mortgage Rates

Financial industry lobbyists are urging the Treasury Department to take steps to lower rates on 30-year mortgages to 4.5 percent.


WASHINGTON
-- Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates and help stabilize the battered U.S. housing market.

Under one proposal, Treasury would seek to lower the rate on a 30-year mortgage to 4.5 percent by purchasing mortgage-backed securities from Fannie Mae and Freddie Mac, Scott Talbott, chief lobbyist at the Financial Services Roundtable, said Wednesday.

If enacted, such a plan would be an unprecedented opportunity for anyone with good credit and a solid income who could qualify for a mortgage at the lowest rates on records dating to the early 1960s, said Keith Gumbinger, senior vice president at financial publisher HSH Associates.

"You would have the mother of all re-fi booms," said mortgage industry consultant Howard Glaser.

The goal of the industry's proposal would be to take advantage of the unusually large difference, or spread, between mortgage rates and yields on government debt. On Wednesday, the yield on the 10-year Treasury note yield sank as low as 2.65 percent, while the national average rate on a 30-year fixed rate mortgages was 5.75 percent, according to HSH Associates.

In recent years, there has been about a 1.8 percentage point difference between the yield on a 10-year Treasury note and a 30-year mortgage rate, but that spread currently hovers around 3 percentage points.

Analysts said that the government could use its ability to borrow money at low rates to in essence flood the market for mortgage-backed securities. This increased demand would tend to push down the yield on mortgage securities sold by Fannie and Freddie, which now average about 5.5 percent because of investor concerns about default risks. Once those yields fall, the theory goes, lower mortgage rates should follow.
That would have two benefits for the economy: Immediately adding money to the pocketbooks of homeowners who can refinance their mortgages and reduce their monthly payments, and eventually help arrest the slide in home prices since much lower mortgage rates would allow more potential buyers to qualify for loans.

"The goal is drive mortgage rates so low that home prices not only stop falling but begin to rebound," said Greg McBride, senior financial analyst at Bankrate.com.
If the government does buy up mortgage securities, it would be similar to the effort announced last week by the Federal Reserve to purchase up to $500 billion of mortgage-backed securities from Fannie and Freddie. The two mortgage giants, which were seized by federal regulators in September, own or guarantee about half of the $11.5 trillion in U.S. outstanding home loan debt.

The Fed, however, did not announce a specific target for mortgage rates, which plunged about a half percentage point after the announcement.

That caused new mortgage applications to more than double last week, according to the Mortgage Bankers Association's weekly survey released Wednesday. Refinance volume more than tripled, and made up for nearly 70 percent of all applications.
Still, the industry plan is not likely to help borrowers whose credit is so damaged that banks don't want to lend to them.

"It doesn't do anything to help all the borrowers facing foreclosures," said Guy Cecala, publisher of Inside Mortgage Finance, a trade publication. "It's going to benefit the people who have equity in their home, who have decent credit and can refinance."

Treasury is considering several options, and could announce a decision as early as next week, industry sources said.

Treasury spokeswoman Brookly McLaughlin said she would not comment on speculation about actions the department may take in the future.

The proposal was reported Wednesday afternoon on The Wall Street Journal's Web site.
Treasury could make such a proposal as part of a request for the second $350 billion of the $700 billion financial rescue fund, industry sources said.
Treasury Secretary Henry Paulson has been criticized by members of Congress for using the bailout money to shore up Wall Street banks, while not doing enough to help homeowners facing foreclosure.

In recent weeks, a diverse set of industry groups from real estate agents to carpet makers have called on lawmakers and the incoming administration of President-elect Barack Obama to subsidize lower mortgage rates and beef up tax credits to help stimulate housing demand.

The National Association of Realtors has been pushing a plan under which the federal government would spend $50 billion to lower mortgage rates. It says doing so would yield about 500,000 more home sales.
Meanwhile, the National Association of Home Builders is leading a new "Fix Housing First" coalition to push for aid to the ailing housing sector, including a tax credit of up to $22,000 for anyone who buys a home before the end of 2009.

Click here to read more in The Wall Street Journal.


Lisa Warren
Branch Manager
751 E Southlake Blvd Ste 100
Southlake, TX 76092
office 817-410-2518
fax 817-410-2519

Wednesday, December 3, 2008

First-Time Home Buyer Tax Credit at a Glance


The tax credit is available for first-time home buyers only.

The maximum credit amount is $7,500.

The credit is available for homes purchased on or after April 9, 2008 and before
July 1, 2009.

Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

The tax credit works like an interest-free loan and must be repaid over a 15-year period.




NAHB is providing the information on this web site for general guidance only. The information on this site does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind nor should it be construed as such. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, you should consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question. None of the tax information on this web site is intended to be used nor can it be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
1201 15th Street, NW
Washington, DC 20005
202-266-8200
800-368-5242

Copyright © 2008 National Association of Home Builders. All rights reserved.

Tuesday, December 2, 2008

Exterior Door Selection and Installation

New exterior doors often fit and insulate better than older types. If you have older doors in your home, replacing them might be a good investment, resulting in lower heating and cooling costs. If you're building a new home, you should consider buying the most energy-efficient doors possible.

When selecting doors for energy efficiency, it's important to first consider their energy performance ratings in relation to your climate and home's design. This will help narrow your selection.

Types of Doors

One common type of exterior door has a steel skin with a polyurethane foam insulation core. It usually includes a magnetic strip (similar to a refrigerator door magnetic seal) as weatherstripping. If installed correctly and if the door is not bent, this type of door needs no further weatherstripping.

The R-values of most steel and fiberglass-clad entry doors range from R-5 to R-6 (not including the effects of a window.) For example: A 1-1/2 inch (3.81 cm) thick door without a window offers more than five times the insulating value of a solid wood door of the same size.

Glass or "patio" doors, especially sliding glass doors, lose heat much faster than other types of doors because glass is a very poor insulator. Most modern glass doors with metal frames have a thermal break, which is a plastic insulator between inner and outer parts of the frame. Models with several layers of glass, low-emissivity coatings, and/or low-conductivity gases between the glass panes are a good investment, especially in extreme climates. Over the long run, the additional cost is paid back many times over in energy savings. When buying or replacing patio doors, keep in mind that swinging doors offer a much tighter seal than sliding types.

Also, with a sliding glass door, it's impossible to stop all the air leakage around the weatherstripping and still be able to use the door. Also, after years of use, the weatherstripping wears down so air leakage increases as the door ages. If the manufacturer has made it possible to do so, you can replace worn weatherstripping on sliding glass doors.

Installation

When you buy a door, it will probably be a pre-hung frame. Pre-hung doors usually come with wood or steel frames. You will need to remove an existing door frame from the rough opening before you install a pre-hung door. The door frame must be as square as possible, so that the door seals tightly to the jamb and swings properly.

Before adding the interior trim, apply an expanding foam caulking to seal the new door frame to the rough opening and threshold. This will help prevent air from getting around the door seals and into the house. Apply carefully, especially with a wood frame, to avoid having the foam force the frame out of square.

If needed, you'll also want to add weatherstripping. Check the weatherstripping on your exterior doors annually to see if it needs replacement.
Storm Doors

Adding a storm door can be a good investment if your existing door is old but still in good condition. However, adding a storm door to a newer, insulated door is not generally worth the expense since you won't save much more energy.

Storm door frames are usually made of aluminum, steel, fiberglass, or wood (painted or not). Wooden storm doors require more maintenance than the other types. Metal-framed storm doors might have foam insulation within their frames.

High-quality storm doors use low-emissivity (Low-E) glass or glazing. Some doors have self-storing pockets for the glass in summer, and an insect screen for the winter. Some have fixed, full length screens and glass panels that slide out of the way for ventilation. Others are half screen and half glass, which slide past each other. Some are removable for cleaning, others are not. All of these features add some convenience and higher costs.

Never add a glass storm door if the exterior door gets more than a few hours of direct sun each day. The glass will trap too much heat against the entry door and possibly damage it.

Storm doors for patio doors are hard to find but they are available. Adding one to a new, multi-glazed, Low-E door is seldom economic. Insulated drapes, when closed for the night in the winter (or on sunny days in the summer) are also a good idea.
Weatherstripping

You can use weatherstripping in your home to seal air leaks around movable joints, such as windows or doors. To determine how much weatherstripping you will need, add the perimeters of all windows and doors to be weatherstripped, then add 5%–10% to accommodate any waste. Also consider that weatherstripping comes in varying depths and widths. Before applying weatherstripping in an existing home, you need to do the following (if you haven't already):
Detect air leaks
Assess your ventilation needs for indoor air quality.
Selection

You need to choose a type of weatherstripping that will withstand the friction, weather, temperature changes, and wear and tear associated with its location. For example, when applied to a door bottom or threshold, weatherstripping could drag on carpet or erode as a result of foot traffic. Weatherstripping in a window sash must accommodate the sliding of panes—up and down, sideways, or out. The weatherstripping you choose should seal well when the door or window is closed while allowing it to open freely.

Choose a product for each specific location. Felt and open-cell foams tend to be inexpensive, susceptible to weather, visible, and inefficient at blocking airflow. However, the ease of applying these materials may make them valuable in low-traffic areas. Vinyl, which is slightly more expensive, holds up well and resists moisture. Metals (bronze, copper, stainless steel, and aluminum) last for years and are affordable. Metal weatherstripping can also provide a nice touch to older homes where vinyl might seem out of place.

You can use more than one type of weatherstripping to seal an irregularly shaped space. Also take durability into account when comparing costs.

Application

Weatherstripping supplies and techniques range from simple to the technical. Consult the instructions on the weatherstripping package. Here are a few basic guidelines:
Measure the area to be weatherstripped twice before you cut anything.
Apply weatherstripping snugly against both surfaces. The material should compress when the window or door is shut.
When weatherstripping doors:
Choose the appropriate door sweeps and thresholds for the bottom of the doors.
Weatherstrip the entire door jamb.
Apply one continuous strip along each side.
Make sure the weatherstripping meets tightly at the corners.
Use a thickness that causes the weatherstripping to tightly press between the door and the door jamb when the door closes, without making it difficult to shut.
For air sealing windows, apply weatherstripping between the sash and the frame. The weatherstripping shouldn't interfere with the operation of the window.


Copyright © 2008 ( DFW Metro Green Consulting ) All rights Reserved.