Roger & Linda Jean Paschal ....... Home Solutions

Inflation Heats Up September 18, 2011

Roger & Linda Jean Paschal — Mon, 19 Sep 2011 03:39:00 GMT

"Inflation, all we've never wanted." The Go-Go's may have sang about vacation being all we've ever wanted in the 1980's, but if we were to re-write the lyrics about last week, we could sing about inflation. Read on to learn why this matters. We saw a double dose of inflation news last week and while the Producer Price Index (which measures inflation at the wholesale level) remained unchanged in August, the year-over-year Core Consumer Price Index (CPI) jumped up to hit the...(read more)

Lenders Cut Back on Risky Loans

Roger Paschal — Sun, 25 Mar 2007 03:41:00 GMT

Over the past couple of weeks, many of the lenders who work with sub prime or riskier loan products like, 80/20 piggy-back products, interest-only, negative amortization loans, no income or asset verification loan products are under increasing pressure to buy back those loans which are in default. The default and foreclosure rate on these loan products are so high that many lenders have had no choice but to close their doors and file for bankruptcy protection because their investors are forcing them...(read more)

Pressure on real estate appraisers

Roger Paschal — Sun, 18 Mar 2007 03:30:00 GMT

A key problem in today's home mortgage industry is created by appraisers who bend their ethical commitments under pressure to "hit specified numbers" in their appraisal reports. This often results in inflated property values that are, in many cases, much higher than realistic market values. This can ultimately cause major problems for home buyers who could be paying on a mortgage that's larger than their property's true value. That's a common scenario that leads to foreclosure...(read more)

Tough but potentially positive market for mortgage industry

Roger Paschal — Sat, 17 Mar 2007 03:30:00 GMT

It's tough to survive in today's mortgage lending industry. Many originators, particularly those that have been specializing in the subprime niche of the market, are folding their tents and silently leaving the business. But there's a bright side of that development for the mortgage industry and consumers. "We're seeing 40 or 50 subprime companies a day throughout the country going down in one form or another," said Angelo Mozilo, chief executive of Countrywide Financial....(read more)

New mortgage-related legislation proposed

Roger Paschal — Fri, 16 Mar 2007 03:30:00 GMT

Newly proposed federal legislation would put the brakes on the growing trend of providing home loans to mortgage applicants using an Individual Taxpayer Identification Number instead of a Social Security number. ITINs are normally issued by the Internal Revenue Service to help immigrant workers who don't qualify for a Social Security number to report their income and pay federal taxes. An increasing number of banks and other lenders have been offering home mortgages to undocumented immigrants...(read more)

Existing-home sales rising

Roger Paschal — Thu, 15 Mar 2007 03:30:00 GMT

The number of existing-home sales in January rose significantly, reaching the highest level in seven months, according to a report from the National Association of Realtors. The increasing sales include single-family homes, townhomes, condominiums and co-ops. The sales volume rose by 3.0 percent from the previous month, to a seasonally adjusted annual rate of 6.46 million units. "Although we're expecting existing-home sales to gradually rise this year, and buyers are responding to the price...(read more)

Mortgage applications increasing

Roger Paschal — Wed, 14 Mar 2007 03:27:00 GMT

Despite a generally sluggish market, mortgage applications are rising, according to a report from the Mortgage Bankers Association. At the end of February, applications were up 8.8 percent over the same week a year ago. Applications for mortgages to finance the purchase of a home increased 5.2 percent during the week ending February 23, compared to the previous week. Refinance mortgage applications increased 1.2 percent from the previous week. It appears the market is strengthening. The average interest...(read more)

New policies re mortgages announced

Roger Paschal — Tue, 13 Mar 2007 03:24:00 GMT

On February 27, 2007 Freddie Mac (one of the nation's leading government-sponsored buyers of existing home mortgages) announced it will cease buying subprime mortgages that have a high likelihood of excessive payment shock and possible foreclosure. It will only buy subprime adjustable-rate mortgages (ARMs) that qualify borrowers at the fully-indexed and fully-amortizing rate. This means there will be fewer offerings of these loans to consumers. The objective of Freddie Mac's action is to...(read more)

REIF Real Estate Investors Forum

Roger Paschal — Sun, 18 Feb 2007 03:22:00 GMT

March 7, 2007 Update Wow, we had a great turn out last night, 15+, great feedback and I think we all learned a little in the process. I would like to Thank the great people at Alamo Title and their help in putting this together. I would also like to thank the other Vendors in their help. We hope to hold the next one at a more convenient time and day, if you have any comments on any topics please let us know. Thank you The Paschal's ________________________________________________________________________...(read more)

What is in the Future of Home Building

Roger Paschal — Fri, 16 Feb 2007 15:20:00 GMT

THE FUTURE IS NOW ORLANDO, Fla. (NAHB) – What’s in store for home design in 2015? Thanks to a recent study conducted by the National Association of Home Builders' (NAHB) Economics Group, visitors at the International Homebuilders Show did not need a crystal ball to find out. Average home size is likely to stay in the range of today’s 2,400 square feet, and homes are likely to be two-story rather than one-story. They will be greener and more resource-efficient, and there will...(read more)

Home Warranties

Roger Paschal — Fri, 16 Feb 2007 15:14:00 GMT

This is a great article regarding Home Warranties, please read this before you select one. We have had many customers just take it with a grain of salt that they are all the same, most or very close to another and we take great pains to try to get you information on the best but please read. Linda Jean and Roger Paschal News Release No. 60, August 2005 By David S. Jones According to the Gallup Poll, 79 percent of buyers and sellers rate home warranties as one of the most important considerations...(read more)

What to look for in a Rental Property

Roger Paschal — Tue, 13 Feb 2007 04:23:00 GMT

Buying HUD's, Foreclosures, Short Sales and rental properties are great ways to build your wealth, but how do you find a good deal? Watch for the following things.

1. Good location. Traffic is good, because it makes rentals easier to rent or sale. Signs can pull more response than an ad in the paper. Also, if it's in a nice locale, it will usually rent faster. Nice locales include places that are close to amenities.

2. Good numbers. Verify every last expense, figured them into your calculations, and be sure that you'll have positive cash flow from the start. One of the biggest mistakes investors make is to start with negative cash flow. I see a ton of foreclosures that are halfway through the remodel process, this is sad when someone get's over their head and wind up in foreclosure too.

3. Expensive homes. High home prices create rental demand. What do people do if they can't afford to buy? They rent, of course. Look in areas with high house prices.

4. Low maintenance properties. Cedar-shake roofs and wood-sided buildings just mean more expense and trouble. Look past current expenses to how much maintenance the building will need. Lower maintenance means fewer headaches and more profits.

5. A good rental history. Look at the rental history in the area of the homes you are looking at, and note how long residents are staying on average, and if you can find out,how often they pay on time.

6. Below-market rents. Buying rental properties with below-market rents is a sure wealth builder. It means you get to raise rents, and that means you immediately raise the value, because rental property values are based on income.

7. Complies with fire codes and zoning. Have the property inspected, and ask local officials if there are any existing problems. Sometimes a violation that was tolerated for years won't be tolerated once a new owner is in the picture.

8. Less than 25 years old. The number is somewhat arbitrary, but if you limit your search to newer buildings, you'll be less likely to have building code and maintenance problems.

9.Owner/manager is out of state. These properties are often the best deals. It can be a real headache to manage a property from far away. Out-of-state sellers are often more concerned with a quick sale than a high price.

10. Stable or improving neighborhood. It's okay if it's stable, but if you can buy in a neighborhood that is improving, you'll rent the units more easily. This less vacancy, more income, and therefore, automatic appreciation in value with time.

11. Know the City you are buying in, some Cities have strictor Rental Ordinances than others, this is very inportant.

As you look at properties, you'll find other things to add to this list. Some things are particular to an area, like local rental codes that tell you what you have to fix or improve. Add these to the list above, and actually carry the list with you, so you don't forget anything. Watch for the right things, and you'll be safer
and make more money buying rental properties.

Foreclosures in Tarrant County

Roger Paschal — Sun, 11 Feb 2007 22:13:00 GMT

FORECLOSURE TSUNAMI FORECASTED COLLEGE STATION (Real Estate Center) – Based on results from its recent mortgage study, the Center for Responsible Lending (CRL) has predicted that one out of five subprime loans issued during 2005 and 2006 will fail, resulting in foreclosure for millions of American homeowners. Dr. Mark Dotzour, chief economist with the Real Estate Center, says the real vulnerability in the residential housing market is in the entry-level housing category in regions where a large...(read more)

Best way to find a home

Roger & Linda Jean Paschal — Tue, 14 Nov 2006 01:17:00 GMT

What is the best way that you have found to find homes, internet, drive by, newspaper, realtor book or something else?

Link to the Winery Web Site

Roger & Linda Jean Paschal — Mon, 13 Nov 2006 20:25:19 GMT

Click on this link
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