SHORT SALE – You’re hearing it a lot but what is it?

Real Estate 411 – What is a Short Sale?

Real Estate 411 Seller FACTS

What you need to know about a Short Sale

#1 A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property’s loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the current debtor. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers.

Real Estate 411: Why Buy or Sell Real Estate NOW?

These 3 Market Conditions make this a successful environment to buy or sell real estate NOW:

#1 The Extended Homebuyer’s Tax Credit is available for first-time homebuyers (up to $8,000) as well as existing homeowners (up to $6,500).  The tax credit expires on June 30, 2010, so NOW is the time to find your dream home and get it under contract (by April 30, 2010).

#2 Mortgage rates are at an all time low, but they won’t stay that way long.  Since the Wall Street financial panic, mortgage rates have stayed low, but Freddie Mac announced recently that they will go up.  It could cost you if you wait, nail down your financing NOW while rates are still low.

#3 Home prices are up nationwide by six tenths of a percent.  Experts predict continued growth so NOW is the time to take advantage of the lower price.

Contact your CENTURY 21 Judge Fite Real Estate Associate to get started with your real estate transaction.  Call 800-451-8055, or email 411@judgfite.com.  

A “Legacy of Service” to the real estate and mortgage industries

Committed Service to YOU and the Real Estate Industry!

At Judge Fite Company we have been selling real estate since 1937 and over the years we have had the opportunity to provide you with a vast array of services. We have sold your home, facilitated the purchase of your home, insured your home, financed your home, and managed your properties.   All this experience we bring to you today in a legacy of service, trust and professionalism that was started many years ago.

Here at CENTURY 21 Judge Fite Company, the past really does represent the future! You know you are doing something right when your customers keep coming back. Agents are attracted to our company for that reason and are trained to uphold this standard. When the customer is happy you know you are doing it right!  Here is what our customers are saying about us:

“Since I am totally blind, my agent read me everything. She was always just a phone call away and was ever so helpful to take me to her office or to the title company for signing the paperwork. I couldn’t have had a better agent. I felt she is completely honest and knows the real estate market. She went above and beyond to sell my house and provided people to help me get all necessary work completed to insure the sale of the property. I feel she is more than my real estate agent, she is my friend” ….Patricia of Dallas, Texas

“Our agent did such a great job with helping us find and purchase our home! We had a hard time finding something that worked for us and she never gave up or quit trying to help. She was also very knowledgeable about the different markets and introduced us to the neighborhood we ended up buying into. Her website was also a big help. We’ll be happy to use and recommend her again!” …Trevor of Keller, Texas.

Working with Mobile Real Estate

Going online for real estate information is a fun and new way to go house hunting and locate information about neighborhoods, school, parks, communities…and more!  Just imagine putting that information into the palm of your hands via your BlackBerry, iPhone or other “smart” phone?  It’s possible now with the new mobile technologies that are available in the real estate market. 

The purpose of all these gadgets, when it comes to real estate, is to provide the customer with streamlined information so that you can make a more informed decision.  It also enables your real estate agent to provide you with almost immediate service and answers to questions, before and throughout the transaction.   Here are a few helpful hints to get you started using mobile technology.

• Buy the perfect phone – choose the phone that has all the options you want and more
• Get connected – make sure your mobile service has a broad network with GPS
• Learn to text – subscribe to a generous “texting” package with your mobile network provider
• Visit iTunes.com to browse, purchase and download real estate applications from the “Apps” store
• Set up accounts for your real estate apps so you can easily log in, browse homes, save them, and make notations 
• Trulia’s iPhone app is a great real estate application where you will quickly learn how to “house hunt” using your iPhone 

 When you are ready to buy or sell your property, engage a mobile real estate agent who is connected through a lead router service and will be able to receive your online inquiries and emails instantly and respond with the answers you need!

Call your CENTURY 21 Judge Fite Company MOBILE real estate professional to help you with your next transaction – 800-451-8055, or visit us at www.CENTURY21JudgeFite.com.

With Mobile and Internet Technology, the Future is NOW!

You can take a few minutes to go online, browse homes in your area of choice, click a button to make an inquiry, and within minutes an agent will contact you.  Within 5 minutes you can set up an appointment to see the home, and if all goes well, you will be signing the papers to your dream home within weeks!

This is not the future. This is now. And the mobile real estate agent is the one who works with you to make it all happen. The mobile real estate agent will answer your email inquiries and keep you in the loop throughout the process using online communications and mobile texting.

Online and mobile technologies are abundant today in the real estate industry.  Now you can have it all in the palm of your hand with mobile technologies and applications.  And when you engage the Mobile Real Estate Agent to help you through your transaction, it will be a win-win for all! 

Insurance and the Internet

We hear the statistics all the time.  “9 out of 10 homebuyers start on the Internet.” “75% of Americans use the Internet.”  While these statistics are true, a vast majority of these “internet shoppers” end up working with a licensed real estate agent at some point during the process, either to show them homes, help them negotiate, assist with the paperwork, or just be there to guide them.  Most people recognize that when it comes to making one of the most important financial decisions of their life, they need an expert who can offer advice and keep the process moving along to the closing table. 

When it comes to purchasing insurance for your home, auto or business, the same concept applies.  Insurance is a very complicated business, just like real estate.  Each person, family and business has different exposures and therefore has different needs when it comes to insurance.  Carriers offer so many different options to meet people’s individual needs.  When a person buys their insurance from a website, there is no way to know for sure that all of their exposures are covered.  More often than not, policies that are purchased online by consumers are stripped down, have limited coverage, or are underinsuring the risk.  While the premium might be attractive (which is the primary selling point of these online offerings), coverage can suffer tremendously.  When a claim occurs, there can be severe consequences in terms of limited or no coverage or a reduced payment on the claim.  Most Internet insurance shoppers don’t realize this at the time they purchase the policy.

The best solution, both in terms of having adequate coverage and peace of mind, is to use a licensed insurance agent.  A good insurance agent can never be replaced by a website, just like a good real estate agent can never be replaced by a website.  Your agent knows the right questions to ask to identify your risks.  He or she can answer your questions with knowledge and expertise.  When you have a problem, he or she is there for you, to assist you and stand up for you, if need be.  They are there to look at your exposures and suggest solutions that fit your needs.  Your agent is there to make sure you are not underinsured.  As long as your agent is an independent agent, he or she is there to look across the rates of several carriers to make sure you are getting the best rate available.  Your agent is there at renewal time to shop your policy, ensuring you get the best rate every year.  Show me a website that can do all of that.

The bottom line is this: Even though they usually start on the Internet, consumers hire a real estate agent to assist them through the process of buying or selling real property because of the agent’s expertise and skill.  When it comes to protecting that real property or other assets from unforeseen events, consumers should work with a licensed insurance agent, preferably an independent agent, so that they have peace of mind in knowing that their assets are properly insured.

For more information about insurance for your home, investments, vehicles, or business, contact Judge Fite Insurance today at insurance@judgefite.com or 214-446-2571.  We are here to serve you!

The GREEN Home: What is SEER? EER? and HSPF?

Seasonal Energy Efficiency Ratio (SEER) is most commonly used to measure the efficiency of a central air conditioner. The higher the SEER, the more efficient the system. SEER measures how efficiently a cooling system will operate over an entire season. In technical terms, SEER is a measure of equipment the total cooling of a central air conditioner or heat pump (in Btu) during the normal cooling season as compared to the total electric energy input (in watt-hours) consumed during the same period.

Energy Efficiency Ratio (EER) is a measure of how efficiently a cooling system will operate when the outdoor temperature is at a specific level (95oF). The higher the EER, the more efficient the system. In technical terms, EER is the steady-state rate of heat energy removal (i.e. cooling capacity) by the product measured in Btuh divided by the steady-state rate of energy input to the product measured in watts. This ratio is expressed in Btuh/watt.

Both SEER and EER are included in the ENERGY STAR specification because each rating indicates the energy efficiency of the product under different operating modes. SEER rating more accurately reflects overall system efficiency on a seasonal basis and EER reflects the system’s energy efficiency at peak day operations. Both ratings are important when choosing a product.

Heat Seasonal Performance Factor (HSPF) is the most commonly used measure of a heat pumps heating efficiency. The higher the HSPF, the more efficient the heat pump.In technical term, HSPF represents the total heating output of a heat pump (including supplementary electric heat) during the normal heating season (in Btu) as compared to the total electricity consumed (in watt-hours) during the same period. HSPF is based on tests performed in accordance with AHRI 210/240 (formerly ARI Standard 210/240)1.

*Source energystar.gov/taxcredits

For more information on going GREEN, visit the Green Home Guide.

Contact CENTURY 21 Judge Fite Company to find your GREEN agent! 800-451-8055, or visit www.CENTURY21JudgeFite.com.

2-Minute Video with Jim Fite – What is a GREEN Home?

Jim Fite, President of CENTURY 21 Judge Fite Company in Dallas/Fort Worth, talks about The GREEN Home.

Is There a Good Reason to Invest in Real Estate?

According to the National Association of Realtors (NAR) second-home sales (for vacation homes and investment homes) accounted for four out of 10 homes sold in 2005. While vacation-home buyers purchase primarily for enjoyment, investment-home buyers are looking to generate income in the following five ways.

#1: Appreciation
Returns of 10 percent and more are not uncommon if you select good real estate properties. It’s a return rate you won’t find on bank products or with most stocks.

#2: Cash Flow
More than half of all investment-home buyers rent out their properties. Month in and month out these properties create income from renters AND gain long-term appreciation.

#3: Less Volatility
While real estate cycles through periods of highs and lows, it doesn’t change dramatically day-to-day like stocks. Investing in real estate is viewed as being less speculative than stocks.

#4 Tax Advantages
Your real estate investments offer you two tax advantages: you can deduct property expenses and depreciation. Plus doing a 1031 exchange lets you avoid paying tax on profits from the sale of rental property if you roll it into another real estate investment property (talk to your tax advisor).

#5 Value-Added Improvements
The saying “buy it low and sell it high” applies to stocks and real estate. The advantage with real estate is you can buy inexpensive property, fix it up, then raise the rent or sell it for more money.

If real estate investing is a path you are interested in pursuing, please feel free to call or email with any questions you have – 800-451-8055, 411@judgefite.com

How can I get a GREEN home without spending a fortune?

“Going Green” is no longer just a slogan, it’s becoming a strategic imperative for those who are concerned about what energy means for our future and our environment. Most companies and households are looking for ways to reduce their energy consumption, while seeking suppliers/products that offer energy-efficient solutions to the environmental impact of their energy needs.

Too often we think that it is too expensive, but going green doesn’t have to break the bank! There are baby-steps you can take in your existing home that will make a difference. Here are 6 AFFORDABLE things you can do NOW to reduce your energy consumption starting at home:

1 – Change your air filter – A clogged filter blocks airflow, preventing the air you’ve already paid to heat or cool from reaching you, which means your system must work harder to reach your desired temperature. Replace your filters monthly during peak seasons.

2 – Check for leaks – You could be losing 25% of your homes air through leaks and holes. Why spend money heating or cooling your attic? In the summer, check for leaks by feeling around ductwork with you’re A/C on. If you feel cold air, seal the leak with aluminum tape (not fabric duct tape, which will rot). Pay special attention to duct connections around junctions and any dampers installed by previous homeowners.

3 – Dial it up or down a few degrees – Each degree you raise your thermostat above 78º in the summer or below 70º in the winter can make a difference in your energy bill. To dial in the perfect temp, try placing a piece of tape over the temperature readout on your thermostat, then keep adjusting until you’re comfortable. You’ll likely find you can stand it a few degrees warmer or cooler than you thought. (Fix any leaks in your home first so you’re not wasting air.)

4 – Install a ceiling fan – A ceiling fan doesn’t actually change the temperature of a room, but it does make it feel hotter or cooler by moving the air around, creating a windchill effect in the summer and circulating rising warm air in the winter.

5- Balance your airflow – If one room seems consistently warmer or cooler than others, try keeping all your interior doors open so air can move freely around rather than constantly adjusting your thermostat. If you want an advanced project, install manual duct dampers to change the airflow to certain rooms. Just cut the duct, insert the damper, and tape it in place. Put them close to junctions and in easy-to-access locations.

6 – Manage your windows – Close curtains or blinds of south-and west-facing windows in the summer to reduce solar heating and keep your home cooler. Open them in the winter for the opposite effect. For windows without curtains or blinds, consider installing sunshades or reflective film to achieve a similar effect. And check your windows for leaks: missing or damaged weather-stripping can have you air-conditioning the countryside!

For help on “going GREEN” in your home, contact a real estate professional at http://www.century21judgefite.com/.