Real Estate Info

Do you qualify for a better rate?

The Economic Stimulus Act of 2008 is a $168 billion plan intended to jumpstart the sliding U.S. economy. While a lot of media attention has been focused on the $600-$1,200 rebate checks that millions of taxpayers will begin receiving this spring, the new bill is also designed to help certain "high-cost regions" of the struggling housing market by:

• Temporarily increasing the "conforming loan limit" from $417,000 to as high as $729,750 in specified areas; and
• Temporarily increasing the size of loans the Federal Housing Administration (FHA) can insure from $362,000 to as high as $729,750 in specified areas.

If you're looking to purchase or refinance a home in a "high-cost region," this is great news. These temporary increases could help you avoid the higher interest rates associated with "non-conforming," or jumbo, loans. Although these new limits only apply until the end of 2008, the legislation does not exclude the refinancing of any past mortgages into these new "conforming loans." That means, if you qualify, you can take advantage of the new limits no matter how many years have passed since you obtained your mortgage.

While this is great news, I should remind you that qualification standards are tougher than ever. So your credit score and credit worthiness are more important than ever. Give us a call today. We can review your options and discuss if we can make this legislation work for you.

Do You Live in a High-Cost Region?
Not everyone will benefit from these temporary loan limit increases, but experts estimate that areas in at least 17 states will be able to take advantage of it. So how do you know if your neighborhood qualifies?

A high-cost region is typically determined by the median value of its homes. The median value is the specific price that is halfway between the least expensive and most expensive home sold in an area over a given period of time. Do not confuse this with the average home price. The median home price is the price at which half of all buyers bought more expensive homes and half of all buyers bought less expensive homes.

If that sounds confusing, don't worry. It is the responsibility of the Department of Housing and Urban Development (HUD) to determine, within the next 30 days, what the median home price is for regions across the country. But I don't want you to wait until HUD makes its determination; give me a call to discuss if you might benefit from this new legislation

When is the Best Time to Lock?

· Interest Rate

· Points

· Length of the lock

In today's high-tech world, the ability to write an effective email is becoming more and more important, especially for business owners and professionals. With this in mind, here are a few tips for writing more effective emails:

. Have a Meaningful Subject Line: This is important for two reasons. First, anything that appears insignificant could very well get lost in the shuffle. A subject line needs to contain information that's not only important to the reader but interesting as well. Secondly, it needs to give the reader an idea of what they can expect upon opening the email. Having a subject line that's unrelated to the email is a recipe for miscommunication and possible disaster.

. Stay Focused: When a writer strays off topic, so will the reader. Figure out what your message is and stick to it. If you have several messages, it's actually better to write several emails. This will ensure that each message has focus, enabling the reader to respond to them (or not) with equal focus. Also, always begin your email with your most important points. It's been shown that most people scan emails, losing interest the further they go.

. Play by the Rules: Follow the rules of standard capitalization and spelling. Capitalizing everything is equivalent to shouting, and using all lower case is amateurish at best. Let's face it. Text messaging has caused many of us to abridge the spelling of certain words. Writing an email this way, however, will translate into a pedestrian attempt and convey the wrong message. Also, avoid using fancy fonts as well as your "Tab" button. Many people's email readers aren't equipped to handle strange fonts or indentions. Use standard fonts such as Times New Roman or Arial. When you begin a new paragraph, try skipping a line rather than tabbing over.

. Avoid Spamming and Attachments: Everyone has at least one friend who has sent so many frivolous emails that you no longer even bother to look at his or her messages. Don't become that person. Attachments aren't necessarily a bad thing; but if you can fit your message within the body of an email, then you should do so. Attachments take time to download, may carry viruses, and take up space on a recipient's hard drive. In addition, they don't always translate, especially if the reader is opening the email on a PDA. . Be Nice: Being overly critical in an email or disciplining via email is tacky and can lead to more trouble. If you have bad news to deliver, it's better to do it in person, or at least over the telephone. It's also important to keep in mind that email is not always confidential. Once you've put something in writing, it can be used against you at a later time, potentially even in court!

. Proofread, Proofread, Proofread: Regardless of the author, if an email is being sent out on your behalf, it is your responsibility to proofread it. Not just once, but two or three times.

In The Art of Happiness*, the Dalai Lama shares this powerful insight into life:

"I believe that the very purpose of our life is to seek happiness. That is clear. [Regardless of religion], we are all seeking something better in life. So I think the very motion of our life is toward happiness."

But how are we to achieve this happiness that we all seek? What common factor can we rely upon, regardless of our health, wealth, appearance, family, etc? The Dalai Lama goes on to discuss how the mind can be trained for happiness, despite a lack of material wealth and success. It's that whole idea of "wanting what you have versus having what you want."

Stephen Covey refers to this as "responsibility," or the ability to choose your response. Tony Robbins calls it "reframing your perspective". James Allen simply calls it "self-control." Whatever name it goes by, the principle is the same: We all have the power to think positive thoughts, and to react positively to every "negative" thing that happens in our lives.

Why, then, is it so hard to do?

Because like anything of any worth, it takes effort. It takes practice. It takes time. And like most skills, the sooner you begin, the sooner it gets easy. But no matter how old we are, we can all start practicing positive thinking today, and begin being happier immediately.

It's very easy to get out of practice, however, so it's best to surround yourself with triggers for happiness. Music is one of the best triggers. Just think how happy we get when we hear Little Orphan Annie singing, "The Sun Will Come Out Tomorrow," or Bobby McFerrin crooning, "Don't Worry, Be Happy." We can also remind ourselves with little incantations such as "look on the bright side" when things aren't going as planned.

I hope this tip brightens up your day!