Watkins Talk - The Real Deal on Real Estate

Financial Reasons to Buy

 

There are a number of personal and emotional reasons to buy a home. But there are also some strong financial reasons to make the investment. Here are just a few of those reasons:

Increase Net Worth: Few things have a greater impact on net worth than owning a home. In a comparison of renters versus homeowners, the Federal Reserve Board of Consumer Finance found that the average net worth of renters was just $4,000 compared to homeowners at $184,400.

A Big Tax Deduction: One of the largest tax deductions available is the amount of interest paid on a mortgage. In fact, a $150,000 home at a 5.50% interest rate can add up to approximately $8,000 in first year's interest. This amounts to a significant savings – effectively reducing the amount of a homeowner's monthly mortgage payment.

Long-Term Appreciation: Over the last few years, home prices have corrected and become more affordable. While that's good news for potential buyers, it has overshadowed the long-term appreciation of a home's value. The reality is, despite market ups and downs between 1950 and 2002, US home prices appreciated at an annual growth rate of 4.8%. Even if you calculate a modest appreciation of 3%, a home purchased today for $150,000 will grow in value to $364,000 over 30 years.

In addition, don't forget that the government is offering an $8,000 tax credit for first-time buyers and a $6500 Step-Up Buyers through June 30, 2010,

Homebuyer Tax Credit Extended!!

Plus, New Tax Credit for Existing Home Owners!

It’s official! President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. In addition, the extension also opens up opportunities for others who are not buying a home for the first time.

To help you understand what the new tax credit details mean to you and your clients, we’ve put together a concise overview of the new tax credit deadline, income caps, and more.

Read the Plan Details Now

Last Call!!! Don't Miss Out!!

FREE FOOD!!

http://enews.ntta.org/DrivingForward/November2009/LaMadPromoNov2009DF

La Madeleine congratulates the NTTA on the opening of the newest portion of the Sam Rayburn Tollway.   To celebrate, La Madeleine invites you to visit any of their Dallas/Fort Worth-area restaurants for a free petite salad or cup of soup.

Just print this offer and present it on your next visit.  The offer expires Nov. 15, 2009. 

The offer is good for one time use only, and it is not valid with any other offers. The offer is of no cash value, and it is valid only at participating D/FW area locations. One offer per person, per visit. © 2009 La Madeleine de Corps, Inc.

Rates at bottom heading up!! Last Chance!!!!

Some good economic news shows the economy is starting to recover and the Fed is buying less mortgage backed securities which means that rates have seen their lows... probably for a long, long time. A melt down in the stock market would give us a brief reprieve, but rates are headed up... BANK on it.

More importantly, for our buyers who need mortgages to buy homes, is the issue of disputed credit accounts. Since credit has tightened, there has been a proliferation of 'Credit Repair' companies. The standard practice is to dispute all accounts (whether the bad credit is correct or not) and hope to catch the creditor on a technicality and get the bad credit removed. NO MORE! NOW, Fannie and Freddie will NOT underwrite any loan that has trade lines reported as 'disputed'. So, while credit repair might remove some of the bad accounts, if any of the trade lines still show up as disputed, YOUR BUYER can't get a loan! Yep, my guess is that the credit card companies had better lobbyists than they credit repair people. So, BEFORE you send your buyers to credit repair, SEND THEM TO US. Credit repair is now VERY tricky and time consuming when it comes to getting a mortgage. Don't loose a buyer by letting them go at it alone.

This week, rates are back up in the 5's ranging from 4.875%  - 5.25% depending on credit and points. Have a great weekend.

First Time Buyer - Last Chance for FREE MONEY!!!

You can still get 8k if you qualify as a first time buyer.  This means you haven't had a house in your name in the last three years.  We must move quick now though!!  It has to close by the end of November and the title companies are already getting booked.  This means we have to find the house, get it under contract, inspect it, get our loan and etc..  New laws are causing delays as well from the appraisal side so time is of the essence.

If you know any first time buyers, please let them know this.  If it's you, stop waiting!!!  I have helped a lot of first time buyers this year find beautiful homes at serious discounts.  They love this as well as the check in the mail for 8k which they don't have to pay back.

New Texas Laws - Do you know them?

Download Pr081109

Need Investment Properties ASAP!!!!

Hello..  Crazy year…  I hope everyone is rocking and taking advantage of this excellent real estate market.  PLEASE read and RESPOND QUICKLY as I apologize for such short notice. 

Do you have or know of any houses which need to be rehabbed and have the potential for serious equity?   Wholesales, motivated sellers, estate sales, distressed investors, rehabs, short sales, foreclosures, etc..  Hopefully you have exclusive agreements or you can assign?  We need the potential for serious equity and you will not be bypassed.  I will help w/ paperwork in advance if needed.

I’m sure everyone has heard of Robert Kiyosaki.  Rich Dad Poor Dad, Cash Flow Quadrant and etc.. He has a book w/ Donald Trump and a huge real estate coaching business.  I’ve been involved with them and arrange their bus tours when they have seminars in town. The students spend major money (like 15k,) but the wholesale class I usually teach doesn’t  actually buy them…   That made it tough… However, this weekend is different.

I’m doing one this weekend with people coming to Dallas who have serious money.   We have a loaded grey hound size bus going out Saturday.  Over 60 serious buyers.  According to the teacher, they usually buy at least five properties on the spot…   Price doesn’t matter but they need to be w/in a 20 minute drive from 635 and the Tollway.    

Please let me know asap as me and my rehabber are going out tomorrow to analyze and decide which to show.  I will need access tomorrow and a brief description of why we should look.  I can run my own comps but give me a quick analysis or why they are motivated if you can.   Thx!!

Centennial/Westmount Joint Venture Signs Anchor Tenant for Plano’s Spring Creek Crossing

 Entry of 99 Ranch Market to north Texas kicks off major redevelopment

of the well-located center.

 
DALLAS – July 17, 2009 – Dallas-based Centennial Real Estate Company, LLC, in joint venture with Westmount Realty Capital, LLC. signed anchor tenant 99 Ranch Market – one of the country’s largest Asian-concept grocery chains – to a 60,000 square foot lease, marking the launch of a significant redevelopment project for Spring Creek Crossing, located at the northwest corner of Spring Creek Parkway and North Central Expressway, one of Plano’s most highly-trafficked corners.

 99 Ranch Market’s first store in the Dallas-Fort Worth area will encompass 60,000 square feet and serve as the shopping center’s anchor. The California-based supermarket’s stores are largely concentrated on the West Coast, but the company is expanding into Texas by opening this Plano location while concurrently opening a store in Houston.

 “Through a very competitive process, we were able to secure the perfect anchor tenant for our project,” said Steven Levin, president of Centennial Real Estate.  “There are many centers 99 Ranch could have chosen, but Spring Creek Crossing’s dominant location and high visibility won them over.”

 “Importantly, this transaction also allows us to kick off our redevelopment project, including re-naming the center 99 Ranch Marketplace,” Levin added.

 A joint venture between Centennial Real Estate and Westmount Realty Capital acquired the 145,000 s.f. Spring Creek Crossing in 2007 when Albertson’s was disposing of real estate assets throughout north Texas.  The center’s redevelopment will include a substantial upgrade that will completely alter its look.

 “We will bring the center up to the quality of the surrounding area, since this is the last corner of the intersection to be redeveloped,” noted Levin.

 Under Centennial and Westmount’s ownership, the project’s first new activity was the construction and opening in winter 2008 of a full-service, Chase bank with a drive-through.

 John Zikos and Bryan Cornelius of Venture Commercial Real Estate represented the ownership in the 99 Ranch Market deal.

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