Karen Hinton shares why she chose CENTURY 21 Judge Fite Company

The first thing that attracted me to CENTURY 21 Judge Fite was their obvious market presence. I knew our Manager Ashley and her Dad Jim Duncan as well as several of the successful agents in the office.

Once I interviewed with Ashley and learned of all the training and support that CENTURY 21 Judge Fite offers, there was really no other choice. Since joining the company, the training I have received is quite honestly “over the top”! All of the managers in Judge Fite Company are outstanding people and ALL seem to be there to help should we need anything.

In our office (Weatherford, Texas), the other agents are always there to come along side you and help you with anything you need. It truly has a family feel like the company claims. I look forward to be with CENTURY 21 Judge Fite for many years to come. I have no doubt I can be successful given the tools and support that CENTURY 21 Judge Fite offers!

Karen Hinton, Real Estate Agent

Weatherford

817-597-1021

karenhinton@judgefite.com

Becky Hopkins: Why I choose CENTURY 21 Judge Fite Company

Why I Choose Judge Fite Company: Becky Hopkins, Carrollton Office Before beginning licensing classes, I knew the style brokerage that didn't interest me. I also wanted to be with a broker who had a proven track record and a good reputation in the industry. Combine the character of the founders whom I have known most of my life, an unofficial endorsement by a seasoned broker whom I respected, the enthusiasm of the Manager at my first appointment, and office atmosphere in general (I have an internal barometer), I knew when I walked in the door that there was no need to look further! After meeting the present owners, Jim Fite and sister Jan Fite Miller, my decision was confirmed. Becky Hopkins, Realtor®, GRI Carrollton Office 972-978-7239 www.50andholding.com Relocation Specialist Quality Service Award, Pinnacle Quality Service Award Read why other Judge Fite agents and staff choose CENTURY 21 Judge Fite Company >> Watch the Video "Why Choose CENTURY 21 Judge Fite Company"

What's new in the new home market?

Technology, the new green initiative, convenience, comfort, and energy efficiency are shaping the new home market.

What’s new in the new home market? Here are 5 Significant Trends for 2010:

1. Lighting – Traditional incandescents may be a thing of the past.

The Energy Independence and Security Act of 2007 directed the Department of Energy to set performance standards for general-service incandescent light bulbs to perform 25 to 35% more efficiently than current incandescent bulbs by 2012-14. Although the Act does not dictate what technologies can be used to meet its requirements, lighting professionals predict that only halogen, CFL, LEDs or some other new technology will be able to meet the standards.

To ready us for the changes ahead, ENERGY STAR’s Advanced Lighting Package (ALP) requirements encourage the use of the new lighting technologies. In order to sport the ALP designation, 60% of the fixtures used throughout the house and all ceiling fans must be ENERGY Star qualified.

New types of light bulbs are 75% more efficient than traditional incandescent bulbs.

2. Life Simplifying Solutions

In this day and age, we crave anything that simplifies our life (provided we can quickly learn how to operate it). Our job is to know that whatever our buyer’s desire to automate or remote control, there is quite likely some technology out there that will allow them to accomplish their goal. Having a reliable and customer-friendly home electronics professional on your team of subcontractors is important in today’s rapidly changing world.

Z-Wave equipped door locks can now be remotely and wirelessly controlled.

3. “Home Synthetic Home”

Manmade products that emulate wood, stone, slate, clay tile, natural stucco and other materials are primarily to thank for making it possible to have a Cape Cod in California, a Tuscan in Texas or a Pueblo in Pennsylvania. During the past decade, “Home Sweet Home” has quickly turned into “Home Synthetic Home”.

DaVinci Roofscapes products are fire-retardant and able to weather tough conditions from all climates throughout the year. They are made of 100% virgin resin and are 100% recyclable.

4. The Modern Movement

One way to gage what’s hot in home design is to look at the products being introduced by the lighting and hardware industries. A few years ago, when rustic designs were all the rage, everything was all about oil-rubbed bronze. Today, sleek, modern, minimalistic designs in chrome finishes complement the move toward contemporary design. Photo courtesy of Lee Lighting.

5. Cutting-edge Energy Efficiency

We’ve come far in recent years when it comes to advancements in energy efficiency, and we’ll go even further in 2010 and beyond. In particular, technology is under development to deliver solar power at prices competitive with coal-fired electricity.

The 2010 New American Home, built in Las Vegas for the International Builder’s Show, features a proprietary gas-powered heating and cooling system with a SEER rating of 18 combined with other energy-efficient features such as low-E windows, advanced insulation, vertical and horizontal solar overhangs and window louvers.

For help in finding your new home, visit www.CENTURY21JudgeFite.com, or call us at 800-451-8055.

Article courtesy of Beverly Smirnis of Building Savvy Magazine – Beverly@buildingsavvy.com

It's our people who make us strong and our clients who inspire us!

We asked our agents and staff why they choose CENTURY 21 Judge Fite Company - here's what they said.

Jamie Bodiford, Realtor®, CRS, GRI, ABR
Weatherford
817-269-4597
Centurion Producer 2005-2009, #1 Agent in Sales Volume, Parker County 2008 & 2009
www.jamiesellsdfw.com
jamiebodiford@judgefite.com

I had been with a few other companies in the past and there is a difference. Judge Fite has a heart and Jim and Jan are committed to bring us the latest technology and tools. My business tripled after I came to Judge Fite six years ago.

Real Estate 411: Why Choose CENTURY 21 Judge Fite Company?

Whether you are listing your home to sell or looking for your dream home, three things matter most - price, convenience, and time - and CENTURY 21 Judge Fite Company is positioned to make every real estate transaction a great experience.

If you are a seller, you want to get the best price, you want a hassle-free transaction, and you want it to happen fast, right? If you are a buyer, you want to get the best value on a home, you want a hassle-free transaction too, AND you don’t want it to take forever! As I see it, in a market like we have here in Texas in 2010, you can accomplish all these things with KNOWLEDGE, EXPERIENCE, and the right TOOLS – here are my definitions as they relate to real estate:

KNOWLEDGE - acquainted with the real estate facts, truths, and/or principles, trained, studied, and investigated, general knowledge to help you along your real estate path, familiarity with the market, the industry, and the transactional process.

EXPERIENCE - a particular instance of personally encountering or undergoing the real estate process, the process or fact of personally observing, managing, encountering, or undergoing a real estate sale or listing (been there done that!) and the knowledge or practical wisdom gained from it.

TOOLS - anything used as a means of accomplishing a task or purpose. In the case of CENTURY 21 Judge Fite Company, the tools used to give your listing the best possible exposure and bring you the best price, or to help you conveniently find your dream home, and bring it all to a successful close in the shortest amount of time!

CENTURY 21 Judge Fite Company has the knowledge, experience and the tools to give you the real estate results you are looking for. But that’s just THREE GREAT reasons, there’s more!

QUICK FACTS about CENTURY 21 Judge Fite Company:

• Recipient of The Art Bartlett 2100 Cup Award, the most prestigious company award in the Century 21 system, presented annually to one company that demonstrates the highest level of leadership, customer service and professionalism.

o What that means to you: exemplary service and customer care when you choose to work with CENTURY 21 Judge Fite Company

• Named one of the “Best Companies” to work for in the State of Texas by the Texas Association of Business, publishers of Texas Monthly magazine, and the Society for Human Resource Management. The awards program was designed to identify, recognize, and honor the best employers in Texas, benefiting the state's economy, its workforce and businesses.

o What that means to you: The experience, technology and proven real estate services offered by our company are recognized by the leadership in our state and available to you when you choose CENTURY 21 Judge Fite Company

• International brand recognition through the Century 21 system that covers the globe in over 60 countries and with over 120,000 real estate professionals.

o What that means to you: More exposure for your listings and access to properties worldwide - saving you time in your home search and when selling your home

• Professionally trained network of real estate professionals that cover the Dallas/Fort Worth and North Texas area.

o What that means to you: Convenience by access across the Metroplex to our system of offices, management personnel, and real estate professionals and better exposure for your listings and access to more buyers - Reducing the hassle!

• State-of-the-art Marketing and Technology with access to social media, YouTube, blogs and multiple websites to enhance your listings, and current tech-tools to help you find your dream home - even while you sleep.

o What that means to you: Exposure, exposure, exposure that fosters potential millions of views of your listings and gives access to more buyers/sellers

• Local Real Estate Experience Since 1937 The Judge Fite Company has been a leader in the DFW real estate landscape. All of our leaders from the Judge to his children – Jim and Jan – have held the esteemed title of “REALTOR of the Year” – leadership is a heritage at CENTURY 21 Judge Fite Company.

o What that means to you: No one knows Dallas/Fort Worth real estate like CENTURY 21 Judge Fite Company – better to lead you and assist you in making the BEST real estate decisions and give you the exemplary service you deserve!

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

The 5 "W's" of Personal Lines Insurability

This month’s W : “WHO”

Many people take for granted or just don’t know how their personal insurance works. It is vitally important to know the basics of insurance as a consumer. Of course, your agent should be your resource for more detailed or complicated knowledge on insurance. It might be beneficial to look at the 5 W’s of insurance to gain an understanding of the basics of how your homeowners and auto insurance works. This month we will take a look at the first W: “WHO”!

WHO is covered?

Let’s look at the definition of an “insured” according to the policy. Think of the “insured” as the customer.

The most obvious person that is covered is called the “named insured” or the person or persons that are actually listed on the declaration page of the policy. In the case of married couples, sometimes the “named insured” is the husband, sometimes it is the wife, and sometimes both names are listed. It is important to note that while coverage is extended to a spouse that is not specifically named, only the named insured can file a claim, change the policy, cancel the policy, and is the person responsible for payment of the premium. Note that in order to be a named insured on a policy, you must have an insurable interest in the property. This is why your mortgagee must be named on the declaration page of your policy.

However, unlike commercial insurance, the “insured” on a homeowners policy may include more than just the “named insured” (listed on the dec page). Also included in the category of “insured” is any relative that “resides” with the person listed on the dec page. Most courts consider unmarried college students to be “residents” of their parents’ household, as long as they resided in the parents’ home prior to going to college, attend school full time, and are under the age of 24. Also included in the definition of “insured” are foster children and foreign exchange students under the age of 21 in the named insured’s care who live with the named insured.

In the homeowners policy, there is also some liability-only protection for others: anyone with custody of an insured’s watercraft or animals, insured’s employees or relatives using a covered vehicle, and other people using a covered vehicle on an insured location

In the case of an auto policy, you have coverage for the named insured as well as residents of your household related to you by blood, marriage or adoption. Also included are foster children who reside in your household and your spouse even when not a resident of your household (such as during a period of separate in contemplation of divorce). You are covered to drive ANY vehicle, not just those listed in the policy. There is also coverage given for ANY person driving “your covered auto”, or the auto listed in the declaration page of the policy with your permission.

Next month we will look at the next “W” in our series: “WHAT”!

Thank you for supporting Judge Fite Insurance Agency. We are here to serve you and your clients with superior knowledge and customer service. Our goal is for all of our clients to be properly covered and properly serviced. Also, remember that when you support the core services of Judge Fite Company, you are investing in the tools and technology to help you sell more homes. Please call us today for insurance information or advice at 214-446-2571 or insurance@judgefite.com.

Eric Fite, VP Judge Fite Insurance
214-446-2600
EricFite@judgefite.com

Homebuyer's Survey Results 2010

CENTURY 21 Judge Fite Company, the #1 Century 21 Franchise in Texas, announced the results of the First-Time Home Buyers and Sellers Survey recently conducted by Century 21 Real Estate, LLC, which captured and compared the opinions of prospective home buyers and sellers who either purchased or sold their first home within the past year or are planning to buy or sell their first home within the next year.

More than 80 percent of first-time homebuyers and sellers feel the current housing market is more affordable today than this time last year, despite the fact that 40 percent of all respondents are more worried about the economy compared to this time last year.

While the attractive combination of home prices, mortgage rates and tax credits appeal to both buyers and sellers, market conditions continue to favor buyers. However, first-time homebuyers anticipate home prices will soon begin to rise and in fact, about half of first-time buyers (48 percent) expect an increase by this time next year, thereby reestablishing the balance between buyers and sellers.

“Today’s market presents a generational opportunity for home buyers and current home owners looking to leverage their market position,” said Rick Davidson, president and CEO, Century 21 Real Estate LLC. “If you are considering buying or selling a home, talk to a real estate professional who can help you to navigate the specifics of your local market.”

Sixty (60) percent of first-time home buyers do not feel they have a good handle on the real estate process. Given the complexity and opportunity of today’s real estate market, 85 percent of both first-time buyers and sellers feel that using a real estate professional is important. The top three skills valued in realtors by both buyers and sellers are knowledge of the area, trustworthiness and responsiveness.

“Buying a home, while an emotional process, is the single greatest financial decision that most people will make in their lifetime,” counsels Davidson. “By providing real-time, ‘feet on the street’ local market intelligence, CENTURY 21 agents take the guesswork out of the process and provide the expertise necessary to help home buyers and sellers make smart decisions.”

The majority of the CENTURY 21 survey respondents have moved or intend to move more than 10 miles but less than 50 miles from their previous location, indicating current market conditions may be a catalyst for buying or selling homes, as opposed to a desire to dramatically change geographic location or relocate for a job.

Home Price Effects on First-Time Buyers and Sellers

• More than 80 percent of buyers believe now is a good time to buy a home.
• First-time home buyers rated the three most influential factors in their decision to enter the market and buy a home as current housing prices (66 percent), followed closely by both the home buyer tax credit (63 percent) and low interest rates (60 percent).
• Finding a home within a buyer’s price range is extremely important (95 percent), as is a neighborhood’s safety (90 percent).
• The top two factors influencing the first-timers’ decision to sell their homes were personal/family reasons and current housing prices – both of which were cited as motivating factors by 48 percent of first-time sellers.
• Most likely due to their experience, approximately half of first-time sellers (54 percent) think home prices are more affordable now than compared to this time last year.
• In fact, the current home prices have influenced 50 percent of sellers to “move up” and 37 percent to change neighborhoods.
• Sellers are mainly concerned about losing money on the sale of their home and receiving offers near their asking price.
• Approximately half of all first-time home buyers (48 percent) and sellers (53 percent) anticipate housing prices will increase over the next year.
  

Low Mortgage Rates But How Accessible Are They?

• The majority of first-time buyers (79 percent) and sellers (86 percent) believe mortgage rates are either somewhat or very affordable right now. Again, due to their experience, sellers are more likely than buyers to find the current rates very affordable (35 percent of sellers vs. 21 percent of buyers).
• The low interest rates have influenced 46 percent of owners to sell their home for “move up” reasons and another 43 percent to change neighborhoods.
• Most respondents feel that getting a mortgage today is either somewhat difficult or very difficult (87 percent of first-time buyers and 82 percent of first-time sellers). Because many may be going through the process currently, buyers were significantly more likely than sellers to find the process very difficult vs. not difficult at all.

Tax Credit Awareness and Eligibility

• Eighty-four (84) percent of first-time buyers are aware of the first-time home buyer tax credit and 64 percent of those who state they are in the market for their first home say they qualify for this credit.
• On the first-time seller side, an equal 84 percent are aware of the move-up/repeat home buyer tax credit yet only 33 percent say they qualify for this credit.

Methodology

MarketTools, Inc. conducted a quantitative survey on behalf of Century 21 Real Estate LLC with 708 prospective home buyers and sellers who either purchased or sold their first home within the past year or are planning to buy or sell their first home within the next year. The quantitative study yielded results from 353 first-time home buyers and 355 first-time home sellers in the form of an online survey fielded from March 12 to 16. The margin of error for this study is 3.7 percent.

About CENTURY 21 Judge Fite Company:

Located at 1140 Empire Central, Suite 520 in Dallas and in 21 other convenient locations across the Metroplex, CENTURY 21 Judge Fite Company is a full service brokerage specializing in residential, commercial, recreational, investment and luxury properties. CENTURY 21 Judge Fite Company celebrates over 70 years of real estate service and has been named one of the “Best” Companies to work for in the state by Texas Monthly Magazine. To learn more about CENTURY 21 Judge Fite Company, log on to www.CENTURY21JudgeFite.com. To contact a real estate professional call 800-451-8055.

About Century 21 Real Estate LLC:
Century 21 Real Estate LLC (century21.com) is the franchisor of the world’s largest residential real estate sales organization, providing comprehensive training, management, administrative and marketing support for the CENTURY 21 System. The System is comprised of more than 7,700 independently owned and operated franchised broker offices and 117,000 sales associates in 67 countries and territories worldwide. Century 21 Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services.

SaleabilityRisk

RISK REDUCTION 411:

Saleability – what makes a home sell?

The risks that I see in this subject are the WHAT IFs.

• What if the house doesn’t sell?
• What if the Seller doesn’t choose me?
• What if they won’t do the repairs needed?
• What if no one will look at it?
• What if we can’t overcome the next door neighbor?
• What if I can’t make my house payment this month?

Let’s see, the client has not been served and will be unhappy so no more future business in referrals. Neither Seller, nor I, end up with any money, so how do I make my own car payment? Only hindrance to my unsullied reputation!!

We MUST make these properties SALEABLE! You know the routine: condition, price, market trend, competition. How do we WIN in every situation? ATTITUDE, SKILLS AND KNOWLEDGE. We have to know what is going on in the market place that is the Metroplex, but it is also much more specifically the neighborhood. What else is on the market? How many homes in the same basic age and size, within the subdivision as well as within the city or suburb? Then we move on to condition. How does this house compare to the 10 others in the same subdivision listed for approximately the same price? Which ones will sell before this one if the Seller doesn’t listen to you? I think we need to learn to prove our case, like a lawyer, beyond a reasonable doubt, that WE ARE THE BEST AGENT, COMPANY, BRAND to sell their home for them at the best price with the fewest problems and in the least amount of time.

I repeat that SALEABILITY depends on ATTITUDE, SKILL and KNOWLEDGE—those traits are all controlled by YOU. Never stop practicing. Never stop learning. Never let your attitude fall below a 10 for more than 20 minutes.

YOU CAN and YOU MUST WIN! BELIEVE IN YOURSELF!

Jan Fite Miller, EVP

214-446-2626

JanFiteMiller@judgefite.com

Saleability-Marketing

MARKETING 411: Creating your own saleability

7 ways to create my own saleability or demand

One thing is for certain in today’s business climate, when there is no demand for your services, there is no business. Creating the need then becomes one of the primary focuses for any real estate agent looking for a new listing or buyer, or a loan officer needing to close a refi or mortgage deal. You simply must have a steady influx of leads and prospects. In the old days we were taught that you had to make X number of calls to have X number of appointments to make X number of dollars. Somewhat true today. But thank goodness we now have access to other methods than the telephone and are connected to the entire world through the web and social networking – our sphere has just been enlarged!

Creating a demand for your services requires a steady, clear, concise and consistent marketing plan. People are just not going to wake up one morning with the desire to call you to buy a home. There has to be a need first. Then they have to know about you, and maybe then, they will call you. Here are a few tried and true marketing pointers that if implemented and carried out will help create a demand for your services and keep your phone ringing for business…

1. Know your product(s). Your product is real estate. How can you market yourself if you don’t know what you are selling? What are the key selling points of your farm area, community, or types of homes you are selling? What competitive advantage do you offer that is superior to your competitor’s? Tell “them” something about it. Educate!

2. Target your market. What market are you going after? Who is your customer? Decide SPECIFICALLY who your target audience is, what they look like, how much money they make, where they live, what car they drive, etc. Once you know your audience then you are ready to proceed to the next step.

3. Create your database. Now that you know your product and “who” your market is, how are you going to get your message to them? Build a database of the individuals/businesses that you intend to market to. Have on-hand and access to their names, contact information. Keep this info updated and accurate. Add to it daily.

4. Create your message. Now, what are you going to say? What message are you going to give them? Who are YOU? Get organized with your marketing materials. Create a professional “identity” that will be carried across all marketing lines. Tailor your message to you, your company, and your audience.

5. Establish your budget. Not just your financial budget, but also your time budget and imagination budget. How much money can you spend and how much time can you allocate to your marketing and how much imagination do you have to put into it? Decide, create, implement and stick to it.

6. Market consistently. Go for it! Carry out your marketing plan religiously, and passionately. Don’t expect a return right away. Look at it like you are teaching a class to a remote audience, a passing parade. Keep sending out your message, educating your markets on the importance of your services and creating a demand for what you do. This is how you become “visible” in your market.

7. Diversify! If you are not diversifying your marketing, you are missing business. Don’t get stuck in one form of advertising or marketing. Hit them all!

· Twitter, MySpace, Facebook, LinkedIn, Plaxo, Bebo, and other social networking sites

· Your website

· Blogging

· Direct Mail

· Telephone

· Email

· One-on-one

· Sponsorships

· Industry Associations

· Presentations

· Seminars

· Master Mind calls

Marketing yourself and creating a demand for your services requires a commitment. Recognize that your goal in marketing is to simply tell people what you are doing in your business. Your growth will be in direct association with your commitment and focus on aggressive marketing strategies.

Happy Selling!

Sandy Wright, Director of Marketing

214-446-2646

SandyWright@judgefite.com

For more on real estate marketing visit the www.sandywright.wordpress.com

SaleabilityCommercial

Real Estate 411: Saleability means SOLD in Commercial

In Commercial we are just as concerned as you are in “getting your house ready to sell” to make sure our commercial properties are “ready to sell”.

We are still very much in a “Buyer’s” market in Commercial and it is our responsibility as agents for our clients to make sure their properties are “ready to sell” in order to maximize the price that they can achieve for the property.

Curb appeal is just as important in selling a Commercial property as it is in selling a house. We try to make sure that all properties that we have listed to sell have landscaping carefully manicured, the buildings painted if need be, and make sure the parking lots are picked up with no trash blowing around the grounds. While emotion does not play as big a part in the purchase of a commercial property, the initial reaction to a property that is well maintained certainly is a plus.

A successful sale requires that we concentrate on six considerations (yes the same six as residential):

1. The listing price – The values of most commercial properties are not what they were 2 – 3 years ago. So while the Seller’s may want to “achieve” the price their property was once worth, it is our job to help list the property at a current market price – other wise it will be more difficult to sell the property.

2. The terms of the sale – we have found that many of our clients are more flexible now on how they will sell a property. Some will take back seller financing. Others will give more feasibility time and/or closing time. We try to approach each one with creative ideas that fit their situation best.

3. Condition of the Property – going back to what I mentioned earlier, if the property appears to be well maintained vs. the opposite, the buyers will not worry as much about “hidden” items that have not been taken care of by the current owner.

4. Location of the property – while it may not be as important as a home buyer “wanting to be only in a certain neighborhood”, some buyers do prefer to be in “certain” parts of the Metroplex for a number of reasons.

5. Accessibility – very important factor in selling a commercial property. If access into and out of a shopping center is not good, then it will definitely make it more difficult to sell the property because it is probably harder to keep tenants – if customers have trouble getting in and out of the property.

6. Marketing exposure – We are able to give all of our commercial properties exposure through a large number of commercial listings services and email systems that allow us to constantly keep it in front of other brokers in the Metroplex.

Please keep your Commercial Department in mind for your Commercial referrals. They can come from a number of sources that you may deal with daily. Neighbors, church members, family members, anyone that you know that owns a business. We work in all areas of Commercial and will work all of your referrals to the best of our ability.

Thank you for all of the referrals some of you are already giving us. We enjoy giving you the “referral” check when we complete the transaction and we have had an increasing number of those this year.

Call me with any questions you might have and let us know how we can help you with your commercial referrals.

Larry Harbour, Manager, Commercial Division

214-446-2575

LarryHarbour@judgefite.com

Understanding the new FHA Loan changes

FHA Loan Changes - NOTE: NOW is the time to ACT on buying and/or selling real property!

In an effort to shore up its flailing balance sheet and dwindling capital reserves, the Federal Housing Authority is rolling out sweeping financial changes. FHA borrowers have to look better on paper and be better credit risks.

Mortgage insurance premiums are rising, too.

FHA Up Front Mortgage Insurance Premiums have increased from 1.75% to 2.25%. This translates to .50% added to the borrower’s loan amount. This change goes into effect for FHA Case Numbers ordered on or after 4/5/2010. FHA Case Numbers are ordered once the borrower has an executed Sales Contract and are ready to move forward w/the appraisal order. To put this into perspective, the increase shouldn’t affect a borrowers payment too much since it’s financed over 30 years like the following possible scenarios.

Assuming a $150,000 sales price
Old UFMIP 2533
after April 5th 3256
Difference $4/month

Assuming a $250,000 sales price
Old UFMIP 4221
after April 5th 5428
Difference $7/month

*assumption (5.25% rate, rounded #’s for simplicity, 3.5% down payment)

In its official announcement, the FHA said its trying to better position itself to "manage its risk while continuing to support the nation’s housing market".

The changes are effective with case numbers assigned starting April 5, 2010.

To find out how these changes may affect your real estate purchase or sell, contact a CENTURY 21 Judge Fite Company real estate professional today - 800-451-8055 or email 411@judgefite.com.

Are you Ready to get off the Fence?

TaxCreditFacts

The Homebuyer's extended tax credit is about to come to an end - are you ready to get off the fence?

There hasn't been a time like this to buy a home in 40 years.

Interest rates are at historic lows but cyclical trends suggest they will soon rise. Home buyers may never see such a chance again

If you want to buy a house, now is the time, and if you don't act soon, you will regret it. Here's why: historically low interest rates!

The average 30-year fixed-rate loan with no points or fees is around 5.5%. That is the lowest the rate has been in nearly 40 years. In fact, rates are so well below historic averages that it should make all current and prospective homeowners take notice of this once-in-a-lifetime opportunity.

You can see how the trend upward began in the 70’s and peaked in the eighties. There has been a slow downward trend and we are now at the bottom. Experts agree that rates will begin to climb back up in the very near future.

What I'm trying to impress upon everyone is that if you are planning on being a homeowner now and/or in the foreseeable future, or if you are looking to move your family into a bigger home, then pay more attention to the interest rates than the price of the home. If you have a steady job, good credit, and the down payment, then you really are being offered the gift of a lifetime.

There is still time to get in on the Extended Homebuyer’s Tax Credit.

Now is the perfect time to revisit the extended and expanded Home Buyer's Tax Credit.

Why? Because now, as you calculate your tax bill or your tax refund, you can finally see in real terms just how beneficial a tax credit of up to $8,000 can be to your bottom line.

Here's the basics:

Qualified 2009 and 2010 first-time home buyers can get up to 10% of the home's purchase price or a maximum of $8,000. In November 2009, legislation extended a tax credit of up to $6,500 (or up 10% of the home's purchase price) to long-time residents of the same primary residence if they purchase a new main home. To qualify, eligible taxpayers must show that they lived in their previous homes for a five-consecutive-year period during the eight-year period ending on the closing date of the new home.

Important details to remember:

1) You don't have to pay it back (as long as you stay in your qualified home for at least 36 months).

2) If you qualify for the credit, you can still apply it to this year's taxes, even if you've already filed your returns, or save it for your 2010 returns.

3) This is a true tax credit, not a deduction. If you qualify for the full credit, there will be an actual dollar-for-dollar reduction of up to $8,000 (or up to $6,500 for qualified repeat buyers) on your tax bill now or in 2010.

4) New income qualification limits have been put in place that expanded the pool of qualified buyers.

5) If you purchased a qualified home or plan to after reading this article, you must have a contract in place by April 30, 2010 (with closing to take place by June 30, 2010), so don't wait!

There are, of course, other details and qualification requirements and restrictions that you'll need to consider – so please contact one of our real estate professionals or one of our in-house Loan Officers to find out if you are ready to get off the fence! Call 800-451-8055 or email 411@judgefite.com.