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2 Story For Sale in NEWTON ORIGINAL TOWN

Alex Carbajal — Fri, 20 Jan 2012 19:50:00 GMT

Wonderful updates!

• 1,925 sq. ft., 2 bath, 4 bdrm 2 story "Wrap around porch!" - MLS® $85,000 - Priced to sell!

NEWTON ORIGINAL TOWN, Newton - You will love the location, blocks away from schools, parks, and the library! This home has all the updates needed so you don't have to worry about a thing. The roof was replaced in 2009 and it is a 30 yr Heritage roof, neutral paint inside and out, original wood floors, crown molding and trim, that has been beautifully maintained! The seller's installed a top of the line fireplace insert, complete with a temperature controlled blower and Chimney cleaned in 2010. There is a whole house fan, and high efficiency heat/air unit installed in 2006 with a humidifier and ultraviolet air cleaner. All appliances stay, including the Refrigerator! Enjoy the Screened Sun porch on east side perfect for entertaining and watching the sunrise in the mornings. Don't worry about over grown trees and landscaping, it is all ready taken care of for you. The rod iron fence installed in 2010, and the home Inspection completed in 2009 reports a structurally sound and well maintained home.

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Priced to SELL on 228 E. 8th St in NEWTON ORIGINAL TOWN

Alex Carbajal — Fri, 20 Jan 2012 19:50:00 GMT

NEWTON ORIGINAL TOWN, Newton - Announcing a beautiful home well priced on 228 E. 8th St, a 1,925 sq. ft., 2 bath, 4 bdrm 2 story "Wrap around porch!". Now MLS® $85,000 - Priced to sell!.

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Single Story For Sale in Northwest Newton

Ray Salas — Tue, 22 Nov 2011 18:29:00 GMT

Mature Home - Nicely Updated

• 1,222 sq. ft., 2 bath, 3 bdrm single story - MLS® $89,500

Northwest Newton, Newton - What a gem. We have found the perfect home for you. Huge 3BR main/1.5 bath with wonderful, original, hardwood floors throughout. Kitchen is a dream. Totally remodeled for your enjoyment. New tile and tile back splash await you as well as brand new tile laid for the kitchen floor. Cabinets totally re-finished and don't forget about the upgraded counter tops. Huge yard in front and back allows for a growing family to prosper. Huge 2-car attached garage for the working man's cave. Don't forget about the HUGE potential in the basement. Look at these basement walls. No water intrusion or leaks. Finish your ultimate family room in the basement and enjoy nothing but family time and memories. Come take a look today. This listing will go fast!

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100% Home Loans Available

Victor Garcia — Wed, 20 May 2009 13:42:00 GMT

I just wanted to take a minute to let you know that there are currently 100% Home Loans still available to you!! We currently have loans available through Rural Development that can give you a 100% loan for the purchase of your new home and the best thing is that this loan does not require you to have Mortgage Insurance, like a traditional loan would, which can save you $40 - $75 per month on your payment.

Whether or not you are a first time homebuyer you can still qualify for a Rural Development loan. Right now there are several great homes available in communities that still qualify for this loan. Below are some bullet points about the program from one of our preferred lenders.

Up to 102% Financing, No Down payment
No Mortgage Insurance
You can finance closing costs & repairs – up to 100% of the home’s appraised value
No limits on amount or where you get help to pay your closing costs
Competitive 30 year fixed interest rates – at times have been lower than traditional loan
Income limits are broad enough to cover most people
620+ credit score makes things go fast
No Purchase Price Limit

First Time Homebuyer's Tax Credit

Victor Garcia — Mon, 11 May 2009 13:22:00 GMT

My big question of the year is why are more people not taking advantage of the potential to receive up to $8000 just for buying a home? I am not sure if it is because people are still scarred from all of the negative news that the national media continues to put out there or if it's because people really don't know about what this program is an how it works.

Well I would like to take this opportunity to put some additional information regarding the tax credit out there.

1. What is the tax credit? - This is a real credit that is being given to first time home buyers. You can receive up
                                        to 10% of the purchase price, maximum of $8000

2. Who qualifies? - This is awesome, if you are a first time home buyer you qualify. First time homebuyer is
                            defined as someone that has never owned a home OR someone that has not owned a home
                            for at least 3 years.

3. When do I get the money? - This is another fantastic thing about this credit. You can either wait to receive
                                             your credit when you file your 2009 taxes OR if you would rather not wait you
                                             can file an ammendment for your 2008 taxes and get you credit now!! All you
                                             have to do is fill out form 5405.

4. Is this a true credit? - YES, YES, YES, if you owe money then the credit will pay the government for you. If
                                    you are getting money back then you will be getting up to an additional $8000, real
                                    money, back with your return!!! The best part of this credit is YOU DO NOT HAVE TO
                                    PAY IT BACK!! *If you sell your home before 3 years then you do have to pay back.

5. Are there income limits? - This answer I took directly from the IRS website. Yes. The credit is reduced or
                                          eliminated for higher-income taxpayers. The credit is phased out based on your
                                          modified adjusted gross income (MAGI). For a married couple filing a joint return,
                                          the phase-out range is $150,000 to $170,000. For other taxpayers, the phase-out
                                          range is $75,000 to $95,000. This means that the full credit is available for married
                                          couples filing a joint return whose MAGI is $150,000 or less and for other
                                          taxpayers whose MAGI is $75,000 or less.

6. Is there a time limit? - Yes, you have to close on your new home BEFORE Dec. 1, 2009.

So, there are some answers to some of the most asked questions regarding the $8000 first time homebuyer's tax credit. This is a great program available to buyer's that is coupled with interest rates being at an all time low and in some 100% loans still available. Imagine buying a home in an area where you get a 100% loan, no PMI, an interest rate of 5% and $8000 in cash - I can't imagine a better situation besides getting a home for free but how many times does that happen?

Feel free to contact Team Carbajal for all your Real Estate needs.

Swine Flu/H1N1 Virus

Victor Garcia — Fri, 08 May 2009 15:55:00 GMT

Being a parent of 4 children the recent outbreak of the swine flu/H1N1 virus has brought my wife and I back to going over the basics of staying healty with our children. Knowing that many of us out there are bombarded with all the seemenly epidemic statisics that our local news has to offer I though I would post some information from Center for Disease Control, CDC. Below is some info straight from their website, www.cdc.gov.

What You Can Do to Stay Healthy

Stay informed. This website will be updated regularly as information becomes available.
Influenza is thought to spread mainly person-to-person through coughing or sneezing of infected people.
Take everyday actions to stay healthy.
- Cover your nose and mouth with a tissue when you cough or sneeze. Throw the tissue in the trash after you use it.
- Wash your hands often with soap and water, especially after you cough or sneeze. Alcohol-based hands cleaners are also effective.
- Avoid touching your eyes, nose or mouth. Germs spread that way.
- Stay home if you get sick. CDC recommends that you stay home from work or school and limit contact with others to keep from infecting them.
Follow public health advice regarding school closures, avoiding crowds and other social distancing measures.
Find healthy ways to deal with stress and anxiety.
Call 1-800-CDC-INFO for more information.

Single Story For Sale in Marion

Alex Carbajal — Fri, 01 May 2009 00:40:00 GMT

well kept home

• 1,424 sq. ft., 1 bath, 2 bdrm single story - MLS® $49,000 - Short Sale

Marion, Bourbon County - This home must be sold as a short sale. It is a great home, perfect for a small family in a quiet community. It has an open floor plan and a covered front porch. It sits on a corner lot, which is fenced in.

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Price Reduced on 214 Miller in Marion

Alex Carbajal — Fri, 01 May 2009 00:40:00 GMT

Marion, Bourbon County - Announcing a price reduction on 214 Miller, a 1,424 sq. ft., 1 bath, 2 bdrm single story. Now MLS® $49,000 - Short Sale.

Property information

2 Story For Sale in Southeast Newton

Alex Carbajal — Thu, 30 Apr 2009 23:58:00 GMT

stainless steel appliances stay!

• 1,521 sq. ft., 1 bath, 3 bdrm 2 story "there is an unfinished attic" - MLS® $85,000 - Nicely updated home

Southeast Newton, Newton - This home has been beautifully updated, the kitchen has new ceramic tile and stainless steel appliances. So much thought and work was put into updated this home, the backsplash, and the counter tops match perfectly with the paint color and the re-finished cabinets. The hardwood floors compliment the home and are found throughout. The bathroom was tastefully updated with a new sink, and fixtures. You must take a look at this home to really appreciate all of the work that was done to it.

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Price Reduced on 211 SE 4th St. in Southeast Newton

Alex Carbajal — Thu, 30 Apr 2009 23:58:00 GMT

Southeast Newton, Newton - Announcing a price reduction on 211 SE 4th St., a 1,521 sq. ft., 1 bath, 3 bdrm 2 story "there is an unfinished attic". Now MLS® $85,000 - Nicely updated home.

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IT'S TIME TO BUY!!

Victor Garcia — Wed, 04 Mar 2009 01:49:00 GMT

When is the last time you had somebody offer you money and then tell you that you did not have to pay any of it back?

Well whether it's been a long time since that happened or if it has never happened to you Team Carbajal has the key to help you with this scenario. From now until the end of the year if you are a first time home buyer, or it's been 3 or more years since you've bought a home, you may qualify for an $8,000 tax credit and not have to pay anything back!

Recently he U.S. Government passed another stimulus package which included a $8,000 grant for first time home buyers. This coupled with the fact that interest rates are at an all time low makes it the perfect time to buy. If you are on the fence whether or not to purchase a home right now this should give you that extra shove you need to make the move.

Most economic experts agree that once interest rates begin to go back up it will be a long time before we see these types of low interest rates again. Another thing that works in your favor is that in the Wichita, KS market there are several communities that still qualify for 100% financing, with no Private Mortgage Insurance which can save you $40-$75 on your monthly payment, through the Rural Development program backed by the USDA. Also, if you decide you would like to build a new home in Park City you could qualify for a $3,500 grant from the city and the builders in some of the new developments. If you are thinking about buying a home in Hesston, KS then you will get several ammenities from the city, such as a free one year membership at the local gym and a one year subscription to the local newspaper and many more.

So, let's recap, If you get off the sidelines and decide to buy a house now you could possibly get:
1. $8,000 that you don't have to repay
2. $3,500 grant
3. $2,000 in ammenities
4. Save $40-$75 on your monthly payment
5. A NEW HOME!!
Wow, could this possibly get any better? Oh wait, I almost forgot to mention that the FREE $8,000 credit can be used on this years taxes, so if you don't want to wait until 2010 to get your money you can ammend your 2008 taxes and get it NOW!!

So, let Team Carbajal help you get your FREE $8,000, we're begging you - LET US HELP YOU GET YOUR MONEY!!

1 1/2 Story For Sale in Southeast Newton

Alex Carbajal — Fri, 27 Feb 2009 20:07:00 GMT

Great for a small family

• 874 sq. ft., 1 bath, 2 bdrm 1 1/2 story "One bedroom up stairs" - MLS® $44,900 - Great investment property

Southeast Newton, Newton - This home has been updated with newer carpet and a new deck and privacy fence.

Property information

Price Reduced on 317 Allison in Southeast Newton

Alex Carbajal — Fri, 27 Feb 2009 20:07:00 GMT

Southeast Newton, Newton - Announcing a price reduction on 317 Allison, a 874 sq. ft., 1 bath, 2 bdrm 1 1/2 story "One bedroom up stairs". Now MLS® $44,900 - Great investment property.

Property information

Single Story For Sale in Southeast Newton

Alex Carbajal — Mon, 23 Feb 2009 16:07:00 GMT

• 11,090 sq. ft. single story - MLS® $130,000 - Price Reduced!

Southeast Newton, Newton

Property information

Price Reduced on 300 S. woodlawn in Southeast Newton

Alex Carbajal — Mon, 23 Feb 2009 16:07:00 GMT

Southeast Newton, Newton - Announcing a price reduction on 300 S. woodlawn, a 11,090 sq. ft. single story. Now MLS® $130,000 - Price Reduced!.

Property information

5 Tips for Homebuyers Seeking a Mortgage

Victor Garcia — Fri, 20 Feb 2009 15:32:00 GMT

Here’s a warning for potential borrowers: Nervous lenders have tough new rules and are paperwork crazy.

"Borrowers are going to have to prove they are the borrower they say they are," says Keith Gumbinger, vice president of HSH Associates, a mortgage-industry publisher in Pompton Plains, N.J.

Gumbinger says homebuyers should consider these things before they apply for a loan.

1. Down payments are critical. Borrowers should expect to put down at least 10 percent for a “conforming loan” – a mortgage that Fannie Mae and Freddie Mac will purchase.

2. Credit scores count. A 720 on the 850-point FICO rating scale will get a borrower access to the best rates. Rich Bira, branch manager of FCM Direct Lender in Chicago, says: "A score between 720 and 739 gets 0.125 percent added to the rate, a score between 700 and 719 gets 0.375 percent added to the rate, and a score between 680 and 699 gets 0.5 percent added to the rate.”

3. Consider VA and FHA. Borrowers without down payments or with less than stellar credit scores should consider these government-insured loans offered through the Federal Housing Administration of the Veterans Administration.

4. Unearth the records. Before applying, borrowers should organize tax, banking and other records that prove income, savings and debts. They should also expect to be patient about what may seem to be endless requests for information.

5. Get rid of debts. Limiting debts, including what borrowers expect to pay for the mortgage, to less than 43 percent of gross income is important.

Source: Chicago Tribune, Mary Umberger (02/15/09)

11/25/08 Update

Victor Garcia — Wed, 26 Nov 2008 14:19:00 GMT

Tuesday's bond market has opened sharply higher following more bailout news from the Fed that is being received as very favorable for bonds and mortgage rates. The stock markets are in negative territory with the Dow down 5 points and the Nasdaq down 18 points. The bond market is currently up 50/32, which will likely improve this morning's mortgage rates by approximately .750 of a discount point over yesterday's rates.

There were two important pieces of economic data released this morning, giving us mixed results. The first revision to the 3rd Quarter Gross Domestic Product (GDP) came in at ?0.5%, which was close to latest forecasts. This means that economic activity during the 3rd quarter was weaker than analysts had predicted last month but close to their latest projections. Accordingly, this data has not had much of an impact on this morning's mortgage rates.

November's Consumer Confidence Index (CCI) was also released this morning, showing a reading of 44.9. This was much higher than the 39.5 reading that was expected, indicating that consumers were more optimistic about their own financial situations than many had thought. This is considered negative news for bonds and mortgage rates because rising confidence usually means consumers are more apt to make large purchases in the near future.

Today's news from the Fed amounts to a more direct support of the mortgage market than the previous moves. In short, the Fed is going to pump $600 billion directly into mortgage lending that should significantly increase cash flow to make new loans to homeowners and homebuyers. The previous announcements were directed more at shoring up the banking side of financial system and somewhat ignored the mortgage side. Today's news is being considered great for future mortgage activity, and therefore, hopefully will help stabilize home prices.

There are four important reports scheduled to be posted tomorrow morning. October's Durable Goods Orders is the first and will be posted early morning. This data helps us measure manufacturing strength by tracking orders for big-ticket items. It is expected to show a 2.5% drop in new orders. A larger decline would be good news for the bond market and mortgage rates.

The second is October's Personal Income and Outlays data. This data is thought to measure consumers' ability to spend and their current spending habits. It is expected to show that income rose 0.1% and that spending fell 0.7%. Smaller than expected readings would be good news for bonds and could lead to improvements in mortgage rates.

The revised November reading to the University of Michigan Index of Consumer Sentiment will also be posted late tomorrow morning. Analysts are expecting to see little change to the preliminary reading of 57.9. Unless we see a significant variance from the forecasted reading, I don't think this data will cause much movement in mortgage rates tomorrow.

The fourth is October's New Home Sales, but I don't expect it to have any impact on the bond or mortgage markets. Keep in mind that the bond market will close early tomorrow ahead of the Thanksgiving Day holiday, so we may see additional volatility as traders protect themselves over the long weekend. Many traders will by keeping a skeleton staff Friday, meaning tomorrow is really the last relevant trading day until Monday morning.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

Lani L. Yardley

Mortgage Specialist

Primary Residential Mortgage

9415 E. Harry, Suite 304

Wichita KS 67207

cell: 316-214-8714

fax: 316-491-7136

lyardley4@cox.net

Real Estate in Our Area

Victor Garcia — Mon, 17 Nov 2008 19:02:00 GMT

I just wanted to take some time and give everybody an update on how the Real Estate Market is going in our area.

If you pay attention to all the doom and gloom that we are hit with every single day from every news source available you would probably be under the impression that the entire nation is going through forclosure and now is not the right time to buy a house. Well, I would not blame you for feeling this way. However, when it comes to our little piece of the world this could not be further from the truth. Sure, lenders are tightening up and you have to jump through some addtitional hoops to get a home loan these days but believe it or not banks are still lending money and people in Newton, Hesston, Halstead, Burrton, Wichita and all the surrounding areas are still buying homes!! Right now in Kansas we have a Rural Development program that will give you a 100% loan, if the location of the home qualifies, without having to have private mortgage insurance. Kansas currently has another program that will pay up to 20% of your loan. Currently FHA has great rates and still only requires that you bring 3.5% down payment, which means you are getting a 96.5% loan!!

Currently in Newton there are over 100 homes available on the market. The average sale price of these homes was over $118k, which is a little scewed because we have had our share of forclosures which brings this number down. From October 2008 - Current there have been 42 homes bought, that's more than one per day, out of which 11 were new built homes with an average sales price of $200k.

Currently in Wichita there are over 2,000 homes available and the average sales price is a little over $136k. Also, from October '08 - today there have been over 600 homes purchased out of which 80 of these homes were new built homes with an average sales price of $216k.

So, what do these numbers tell us? They remind us that when you hear the news talking about the decline of the Real Estate Market we need to remember that it is not an all inclusive term. Each state is a sub-market with several cities and towns making up more sub-markets within their respective state. We have to take time to look at our own individual market and make our decision whether or not to buy a house based on what we find is going on in our own back yard.

In my opinion, any time is a good time to invest in your future and buy a home. With so many homes on the market currently a buyer can truly take a little time and really find the house of their dreams. Not only that but with high supply a buyer is more equipt to be able to bargain down the price or bargain for the seller to cover all closing costs and pre-paid items!! In my opinion, currently, sellers are more apt to look at any offer and take it seriously becaue they know that today's buyer has a lot to choose from and if the seller is not flexible they could loose that one opportunity to sell their house and move on to the next chapter of their life.

So, if you live in our area or are considering moving to our area, don't worry things in our Real Estate Market are still going great. If you would like to sit down and discuss what options are available to assist you don't hesitate to contact Team Carbajal and we will be more than happy to lend you a helping hand!!

After the Weekend Market Update

Victor Garcia — Mon, 17 Nov 2008 18:30:00 GMT

MM Recap for Nov. 17

Volatility made up for lack of economic news last week. U.S. Treasuries were reactionary, moving in the opposite direction of stocks. Early week losses on Wall Street based on recession worries boosted Treasuries and sent yields, which move inversely to price, down. But Thursday's late session rally drew money from bonds and into stocks, sending yields back up again. Then Friday's retail report sank stocks and rallied bonds, as yields plunged.

October retail sales were the worst on record, falling 2.8%. Although sales were down across the board, autos, gas, electronics and furniture were hardest hit.

Thursday's release of first-time claims for the week ended Nov. 8 showed an increase of 32,000 to 516,000, the worst since 9-11, while the more telling four-week average hit 491,000 -- its highest level since April 1991. You'd have to go back to 1983 to find continued claims (those collecting benefits for more than one week) near the present 3.89 million level.

Other reports included the U.S. trade deficit, which narrowed to $56.5 billion from $59.1 billion, slowed by weak demand for U.S. goods and a drop in oil prices. The deficit with China rose. Separately, October price indexes showed imports (ex-energy) falling 0.8% and export prices (ex-ag) down 1.2%.

The preliminary November University of Michigan/Reuters consumer sentiment survey edged up to 57.9 from 57.6 two weeks ago, due falling gasoline prices.

Lower mortgage rates during the week ended Nov. 7 boosted applications. Refinances climbed 16.1%, while purchases rose 9%, according to the Mortgage Bankers Association.

There are a lot of data due this week! We get reports on manufacturing, housing, employment and two on inflation.

Monday's NY Empire State index on November manufacturing conditions will likely be another bad one. The index is expected to fall to -26, versus October's -24.6. Anything below zero indicates contraction. In a separate report, industrial production in October is predicted to come in at -0.1%, a vast improvement from September's -2.8% decline.

Tuesday's producer price index, which looks at inflation at the wholesale level, should fall 1.5% in October -- an improvement from September's -0.4%. The core rate, which excludes volatile food and energy prices, should also show improvement. It's forecast to rise 0.2%, which is half the previous increase.

Wednesday we get the rest of the inflation picture -- the consumer price index, which monitors retail prices. The index is expected to fall 0.8% in October from 0% in September. But the more closely watched core is could grow 0.2% versus the previous 0.1% increase. Inflation has not been an issue for the past month or so, and these numbers should allow it to rest.

Housing starts and building permits are expected to remain slow in October. Starts could tumble to an annual rate of 770,000 units versus an annual rate of 805,000 in September. And permits should follow suit, coming in at an annual rate of 780,000 -- down from 817,000. On Wednesday afternoon, the Fed releases its minutes from the Oct. 29 meeting, which brought us the second 50-basis-point cut that month. It should make for interesting reading.

The reports end on Thursday, starting with first-time unemployment claims for the week ended Nov. 15. With layoffs being announced on a daily basis, the news will not likely be good. Also on Thursday the index of leading economic indicators is due. This report looks at the economy six months ahead, based on 10 economic reports. Analysts believe it will fall to -0.6% in October after posting a 0.3% gain in September.

The final report is the Philadelphia Fed index of November manufacturing conditions in the Mid-Atlantic states. Analysts expect -30, which is actually an improvement over the -37.5 reading in October, but by no means a good number.

The Overall Market View

Victor Garcia — Fri, 14 Nov 2008 19:17:00 GMT

Hello all this is Lani Yardley and today I thought I would post a blog about the overall market view. Even though my main area of focus is the Real Estate Market I have found that it is very helpful and wise to keep our eyes on the overall market conditions since they will have a direct and/or indirect affect on the Real Estate Market. With that being said here is a wonderful article that I found.

Enjoy,

Lani Yardley

Friday, November 14, 2008 10:16am ET

Current Trend Direction: Lower

Risks favor: Carefully Floating - but watch windows

Current Price of FNMA 6% Bond: $101.09, +9bp

Mortgage Bonds are higher this morning, but well off their best levels, on much worse than expected Retail Sales numbers.

Falling for a fourth straight month, Retail Sales plunged lower by 2.8% in October, worse than estimates of -2.1%, and representing the worst reading since record keeping on Retail Sales began back in 1992. We have written often to you about the poor retail sales and weak state of the economy and it seems lately that everyday the news reflects the worst readings in decades. And it's not likely to get better soon, as consumers worry about their jobs in this weak labor market, and have watched their financial portfolios decline in value. As we've mentioned, this gives a very bad outlook for the retail industry overall, heading into what looks to be the worst holiday shopping season in a long, long time.

Consumer Sentiment was reported at 57.9, surprisingly better than expectations of 57. The better than expected news did little to move the market.

Fed Chairman Ben Bernanke was speaking in Germany today and stated that central bankers worldwide are prepared to take additional actions as needed to unfreeze global credit markets, citing continued strains even amid ``tentative improvements.'' Mr. Bernanke's speech comes before this weekends G20 meeting in Washington as world leaders attempt to lay the groundwork for agreement on broad reforms to the world's financial system.

Yesterday, Stocks dipped down to test that important support at the 8175 level that we pointed out in yesterday's update, and proceeded to rocket higher to close with a 552 point gain. Stock prices are down a bit at the moment, but improved from their worst levels.

Bonds opened above the 200-Day Moving Average, but have since been pushed back lower and beneath this important level. For the moment, we will Carefully Float, but stay tuned, the early buying euphoria in Bonds has dissipated. Don't be surprised if we send out another alert to lock later today.

All times listed in the table below are Eastern.

Economic Calendar for November 10 - November 21

Date	ET	Economic Report	For	Estimate	Actual	Prior	Impact
Thu. November. 13	08:30	Jobless Claims (Initial)	11/8	479K	516K	484K	Moderate
Thu. November. 13	08:30	Balance of Trade	Sept	-$56.8B	-$56.5B	-$59.1B	Moderate
Fri. November. 14	08:30	Retail Sales ex-auto	Oct	-0.9%	-2.2%	-0.5%	HIGH
Fri. November. 14	10:00	Consumer Sentiment Index (UoM)	Nov	57.0	57.9	57.5	Moderate
Fri. November. 14	08:30	Retail Sales	Oct	-2.1%	-2.8%	-1.3%	HIGH
Mon. November. 17	08:30	Empire State Index	Nov	-26.0		-24.6	Moderate
Mon. November. 17	09:15	Capacity Utilization	Oct	76.6%		76.4%	Moderate
Mon. November. 17	09:15	Industrial Production	Oct	-0.1%		-2.8%	Moderate
Tue. November. 18	08:30	Core Producer Price Index (PPI)	Oct	0.2%		0.4%	Moderate
Tue. November. 18	08:30	Producer Price Index (PPI)	Oct	-1.5%		-0.4%	Moderate
Wed. November. 19	08:30	Core Consumer Price Index (CPI)	Oct	0.2%		0.1%	HIGH
Wed. November. 19	08:30	Building Permits	Oct	770K		805K	Moderate
Wed. November. 19	08:30	Consumer Price Index (CPI)	Oct	-0.8%		0.0%	HIGH
Wed. November. 19	08:30	Housing Starts	Oct	780K		817K	Moderate
Wed. November. 19	14:00	FOMC Minutes	10/29				HIGH
Thu. November. 20	10:00	Philadelphia Fed Index	Nov	-30.0		-37.5	HIGH
Thu. November. 20	08:30	Jobless Claims (Initial)	11/15	NA		516K	Moderate
Thu. November. 20	10:00	Index of Leading Econ Ind (LEI)	Oct	-0.6%		0.3%	Low

Forecast for 2009

Victor Garcia — Thu, 13 Nov 2008 23:53:00 GMT

Forecast 2009: Your Home

By Stephen Gandel, Money Magazine

Nov 11th, 2008

(Money Magazine) -- Forget the old saw that all real estate is local. What's pummeling housing prices in your nabe is the same thing that's hurting them around the country: the credit crisis.

You know the drill - banks' troubles have made it harder for many home buyers to get mortgages, and those who do qualify have to pay more. A borrower with good credit and a

Home prices in the nations 10 biggest metro areas are projected to keep falling in 2009, with Miami and Los Angeles suffering most.
Metro area	2009 median home price	2009 change
Dallas	$155,645	-1.0%
Houston	147,549	-1.8
Atlanta	150,092	-2.5
Chicago	239,359	-5.3
Philadelphia	201,151	-9.8
Boston	295,918	-12.5
New York	393,210	-13.7
Washington	261,411	-17.1
Los Angeles	269,614	-17.2
Miami	214,551	-18.8
Notes: Prices are projections for the end of 2009. Change is from the end of 2008.
Source: Moody’s Economy.com

20% down payment recently got charged an interest rate of 6.7%, on average, according to HSH Associates.

It's true that this rate is not historically high (rates often surpassed 9% in the early 1990s). But it's more than the 6.2% that the same borrower would have paid at the beginning of 2008.

MORE AT CNNMONEY.COM

The fact that mortgage rates have remained stubbornly elevated despite the government takeover of Fannie Mae and Freddie Mac leads some experts to believe that those rates are not headed down anytime soon.

Then look at the fact that 18.6 million homes in this country are now sitting vacant, more than at any other time since the Census Bureau began tracking that figure in the 1960s. And that 2.8% of U.S. mortgage loans are now at least three months in arrears, up from 1.4% a year ago. That rate is projected to peak in early 2009.

But if a recession lasts for three-quarters of the year, as some economists are predicting, the number of foreclosures could remain high longer. Add it all up and you have another lousy year for real estate.

Home prices are down 20% nationwide since their peak in July 2006, according to the S&P/Case-Shiller home price index. Economist Nouriel Roubini of New York University, who accurately predicted the housing slide and credit crisis, expects another 20% decline in home prices next year. Patrick Newport of economic forecasting firm Global Insight projects a 15% drop.

The damage will likely hit even areas that have so far escaped many problems, such as New York City. "We don't see the market turning until late 2009," says Newport.

The wild card:

How much home values fall early in the year

If they go so low that investors can start renting out homes for enough to cover their mortgage payments, we could see a wave of people snapping up bargain houses in 2009 - which could push prices higher by the time the next 12 months draw to a close.

Lawrence Yun, chief economist of the perpetually optimistic National Association of Realtors, says he expects prices to rise 2.8% in 2009.

The action plan if you're selling:

Wait it out

In 2010, real estate should be stronger, with fewer homes clogging the market. So if you can wait until then to sell, do it. "I would," says Barbara Brin, a real estate agent in Minneapolis. And if even realtors are saying that...

Make your place shine

In many markets, sellers will face the toughest competition not from fellow homeowners but from banks and builders. Both will be willing to cut prices dramatically to sell a foreclosed or new home.

To convince buyers that your house is worth paying up for, make sure that it's in move-in condition (foreclosures almost certainly won't be). Point out unusual qualities like wide-plank floors or stained glass that cookie-cutter new construction lacks.

Price it below market

Go to Zillow.com to see how much nearby homes fetched recently. Once you've figured out what a buyer might pay, price your house 5% below that.

Sound painful? A recent study by a New Jersey appraiser found that houses priced below market ended up selling for more than similar houses listed above market. That's because lower prices attract more buyers.

If you're buying:

Look for homes that have been sitting around

In many areas of the country, such as Phoenix, San Diego and Washington, D.C., it's common for perfectly good homes to linger on the market for six months or more. So start your search by looking for properties that have been up for sale for at least three months: At that point most sellers will be willing to deal.

Drive a hard bargain when you find a house you're interested in. Sellers know you have a lot to choose from. They also know that if they wait they will probably get less. So offer less now.

Barry Miller, a buyer's agent in Denver, suggests you make your first offer as much as 13% below the seller's asking price. "You might not get the house for that, but it's a good starting point," he says.

Improve your credit score

More than ever, that three-digit number could cost you. Lenders have begun imposing fees for everyone who doesn't fall into the top tier of credit - and that's a whole lot of people.

"Let's say 680 got you the best rate on a mortgage 24 months ago," says John Ulzheimer, a credit expert with Credit.com. "Today you need to shoot for 780 to 820 to get the best deal."

Boosting your credit score from 660 to just 740 can lower your mortgage rate by a quarter of a point. To improve your score, focus on paying down debt, which will bring your crucial debt-to-credit ratio down.

Buying a House Series Pt. 2: Reduce Your Stress Level

Victor Garcia — Tue, 11 Nov 2008 19:24:00 GMT

Whether you are a first time home or a seasoned veteran in the home buying biz there are always things that stress us out. Are you buying the right house? What if a better deal comes along tomorrow? With everybody trying to give you advice who do you listen to? Is this even the right time to buy?

Straight from the pages of Realtor Magazine her are 10 ways that you can help reduce your stress level when it comes time to buy your home.

10 Things to Take the Trauma Out of Homebuying

1. Find a real estate agent that’s simpatico. Homebuying is not only a big financial commitment, but also an emotional one. It’s critical that the agent you chose is both skilled and a good fit with your personality.

2. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.

3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.

4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.

5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.

6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself—room size, kitchen—that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home.

7. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.

10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is as a comfortable, safe place to live.

Team Carbajal Announcement

Victor Garcia — Tue, 04 Nov 2008 20:47:00 GMT

Hello Team,

The reason I addressed you as Team is because I consider everyone that is receiving this letter as a major part of my success. First, I want to take the time to thank you for helping me achieve success in my decision to make Real Estate my full time career. Without all of you I would not have been able to help as many families, as I have, realize their dreams of becoming a Home Owner!!

The second reason I am writing you is to give you an update on Team Carbajal and how we are doing with accomplishing the goals that we set for this year. First, Team Carbajal set a goal of helping at least 30 families with the purchase of their first home or their next home. To date we have helped 10 families realize their goals of owning a new home. Second, Team Carbajal set the goal to raise the level of expectations when it comes to the service that customers receive when working with a Realtor. We believe that we have a good start on this goal because of the referrals we have been receiving as well as the feedback we have heard from the clients we have and are working for. Third, Team Carbajal set a goal to recruit other top talent agents that share our vision of providing world class customer service and putting the client’s needs ahead of our own. With this being said in the next month we will have another outstanding agent join Team Carbajal so be sure to watch the paper for the announcement of the “New Team Carbajal”!! If there is any feedback that you would like to share with our team please feel free to contact us any time because all feedback is a gift that we use to make ourselves and our team better.

The third and final reason I am writing this letter is to ask you for your continued help and support. If you or anybody you know need help with any Real Estate needs please feel free to contact me or my team for any assistance that we can provide. Right now we are hearing a lot of doom and gloom on the news but what most people don’t realize is that here in Kansas we are not being affected by many of the things that are hurting the rest of the country. Traditionally our market appreciates 2% - 3% every year and last year was no different with our market showing a 2% appreciation. Currently we have a program available that will pay 15% of your loan, we have an FHA program available where you only have to bring 3.5% of the loan so you are getting a 96.5% loan, we have conventional loans where you only have to bring 5% so you are getting a 95% loan, we also still have a program through Rural Development that gives 100% loans, for qualifying properties, with no Private Mortgage Insurance!! We have been working closely with mortgage brokers that not only work to get you a loan approval but will work closely with you if you are in need of credit repair. Another service we provide for people is if you are moving out of the area or state we will be more than happy to call and interview agents in that area and refer you to a top notch agent in your new market!! Please do not hesitate to let me or my team know what your needs are and we will be more than happy to assist in every way we can.

Sincerely,

Victor Garcia – Realtor
Remax Associates – Team Carbajal
316-990-8994 – Cell
victor@welcomehomeks.com
www.welcomehomeks.com

Team Carbajal Asks: What's on Your Mind?

Victor Garcia — Tue, 04 Nov 2008 20:44:00 GMT

Alright, Team Carbajal would like to know what is on your mind these days. Feel free to post questions and comments to this blog and we will be more than happy to provide answers and feedback to help you in anyway we can. Now, this forum does not have to specifically be about buying or selling a home. If you have any questions or comments about how to make your house better, why you should be represented on both ends of a transaction, heating and cooling tips or anything else that is on your mind feel free to post away.

Remember Team Carbajal wants to know - WHAT'S ON YOUR MIND!!

Buying a House Series: Preparation is the Real Key to Your New Home

Victor Garcia — Tue, 04 Nov 2008 20:33:00 GMT

Are you thinking about buying a new home? Have you done your home work? When we go to the grocery store many of us will take the time to go through our kitchen and take an inventory about what we need, we also know how much we need to spend vs. how much we have to spend. However, when we begin the process of purchasing our first home or our next home many of us just rush right out without any type of preperation. Now we all know that the key is what will open the locked door, however PREPARATION IS THE TRUE KEY TO GETTING INTO OUR NEW HOME!!

According to the National Association of Realtors (NAR) here is a grocery list to get you started:

One of the keys to making the homebuying process easier and more understandable is planning. In doing so, you'll be able to anticipate requests from lenders, lawyers and a host of other professionals. Furthermore, planning will help you discover valuable shortcuts in the homebuying process.

Do You Know What You Want?
Whether you are a first-time homebuyer or entering the marketplace as a repeat buyer, you need to ask why you want to buy. Are you planning to move to a new community due to a lifestyle change or is buying an option and not a requirement? What would you like in terms of real estate that you do not now have? Do you have a purchasing timeframe?

Whatever your answers, the more you know about the real estate marketplace, the more likely you are to effectively define your goals. As an interesting exercise, it can be worthwhile to look at the questions above and to then discuss them in detail when meeting with local REALTORS®.

Do You Have The Money?
Homes and financing are closely intertwined. (Financing is the difference between the purchase price and the downpayment, commonly referred to as debt or the mortgage.) The good news is that over the years new and innovative loan programs have evolved which require a 5 percent downpayment or less. In fact, a number of programs now allow purchasers to buy real estate with nothing down.

In addition to a down payment, purchasers also need cash for closing costs (the final costs associated with closing the loan). Several newly emerging loan programs not only allow the purchase of a home with no money down, but also underwrite closing costs.

Not everyone, however, elects to purchase with little or no money down. Less money down means higher monthly mortgage payments, so most homebuyers choose to buy with some cash up front.

As to closing costs, in markets where buyers have leverage, it may be possible to negotiate an offer for a home that requires the owner to pay some or all of your settlement expenses. Speak with local REALTORS® for details.

Is Your Financial House in Order?
Those great loans with little or nothing down are not available to everyone: You need good credit. For at least one year prior to purchasing a home, you should assure that every credit card bill, rent check, car payment and other debt is paid in full and on time.