Because Terri and I list and sell many water front properties around Fort Worth's Eagle Mountain Lake we are often asked questions about the Richland-Chambers pipeline and the lake's water level, which unfortunately is down several feet at this time.  Mostly I refer people to the Tarrant Regional Water District (TRWD) web site so that I don't misinform them on this subject.  Even after writing this blog I will still defer to their site or recommend just calling them if you have questions or concerns.  However, their web site may not be up to date on this particular subject since I could not find exactly what I was looking for there.  So I just picked up the phone to pursue more of the information I was after.  This morning I talked with Lori Mayfield (who was very helpful and informative) with the TRWD, to get some information on the Richland-Chambers pipeline and TRWD's goals for supplying desperately needed water to our beloved Eagle Mountain Lake.  Will the TRWD fill up Eagle Mountain Lake by June 1, 2009? Lori said that the TRWD is not trying to fill up the lake but they are more or less trying to keep up with Fort Worth demands (which apparently is above the norm) on the water supply.  Two pipeline repairs and the current drought situation have put the TRWD a few weeks behind schedule in supplying water as they begin the pipeline's first year in operation.  Currently the demand on the water supply and the deposit of water into the lake from the pipeline are about the same which makes for difficulty in bringing the lake up to a higher or more preferred level.  The TRWD receive a weather briefing at one of their recent staff meetings which indicated that Eagle Mountain Lake needs approximately 15 inches of rain over the next four months to bring the water to conservation level.  One consideration that TRWD has is that they must be careful not to pump too much water into the lake lest the potential for torrential rainfall could send excess water over the spillway.  Their goal is to conserve water and prevent flooding and water going over the spillway would not be a good thing.  Therefore, they must be careful and manage the water that goes into and out of the lake. 

So all of us the live near or around Eagle Mountain Lake will have to wait and see what the weather will do before we can know whether there will be a positive or negative effect on the lake's water level.

Regards!

Bernie Christian

What services do you want from a realtor when you call them out to list your home?  Some people don't want to be bothered with the details.  They just want you to sell the home.  Others want to know everything your doing and sometimes how your doing it.  I find that most peoples' expectations lie somewhere between these two types of sellers.  However, considering the increasing difficulty with selling homes in a challenging market, buyers are becoming more and more discriminatory in regards to who they hire to list and sell their home.  With our group, that is "The Christian Group", you will discover that we are a highly successful, widely known and experienced full service real estate consulting business.  I mean, what we offer is absolutely more than what most of the other real estate agents in our local market will offer sellers in terms of marketing properties and follow through (see our testimonials).  Because most agents work alone, they must set their priorities on how they spend their time.  In a world that is constantly changing with regard to licensing requirements and training, a shifting real estate market, running the business aspects of a small business, the lightning speed like changes in internet marketing, showing buyers and listing homes, lets face it...there is only so much time to meet out time to these various but important activities.  Terri and I, together with Joan our full time assistant and three licensed buyer agents on the team are able to accomplish more for our clients in less time because we use our team as leverage.  Lots of agents will charge you a full fee or will even discount their fee to list your property, but you'll likely only get it marketed in the MLS and a few printed flyers for the tube on the sign and not much more.  Would you be satisfied with that level of service?  What if your home's listing was on steroids with the top residential sales group in Fort Worth Texas?  What if your home was syndicated to numerous top sites and home venue search engines?  What if it had a posted floor plan, the latest technology virtual tour, and was marketed on several web sites?  What if it had a unique url that pointed to a microsite just for your home? What if it was posted on Craigslist three times a week?  In this down and shifting market, sellers need aggressive marketing and experienced real estate consultants like us to sell their home for top dollar and in the shortest possible time with the greatest deployment of online and offline marketing tools in the real estate industry.

If you need or appreciate what we have to offer, please contact us for a free no obligation listing consultation and find out more!

Regards!

Bernie Christian

Mortages for home buyers in Fort Worth are becoming more challenging every day.

Earlier in the year. a 580 credit score could get a buyer a FHA mortgage up to $271,000 with about 3% down payment.   Then, the minimum credit score moved up to a 600 minimum.  Today, the minimum credit score for a FHA loan is 620.  FHA will loan up to $271,000 in Tarrant County with 3.5% down payment and the seller can pay up to 6% of the buyers closing costs.

With the average price of a home in Fort Worth around $145,000, it is easy to see why an FHA loan is very desirable.  However, at a 620 credit score minimum, all bets are off.  Many buyers who qualified 30 days ago simply cannot get a mortgage today. So, who is going to get the Tax Credit that your hear about? I do not know.

All of those relief plans that the government and President Obama tout.......are not working for the people.  Many everyday people are still loosing their homes, even when they have a job.  The banks simply do not have enough staff to answer the phones to assist homeowners than cannot pay their mortgage.   When a homeowner cannot get a major bank, i.e., this week....Washington Mutual, to do a deed in lieu of a foreclosure or a short sale...after a six month NON payment of a mortgage....what is an owner to do?  The owner of a property that we have listed right now has called, faxed, emailed and mailed Washington Mutual.  The paperwork on her home is missing....lost.  Now, the home is scheduled for foreclosure next month.  Oh, and yes, we also have an offer to purchase the home. 

Need a loan above $417,000 in Tarrant County?  You might want to have at least 20% down to get the best rate possible.  Why? Loans above $417,000 are not insured by FHA, Fannie Mae, Freddie Mac or the federal government.  What does this mean? The interest rate for these loans above $417,000 is going to be high....or higher than the 5 or 5.5% market of today.  So, do you think this is has hurt the upscale market? YES.

Also, when a home buyer needs a mortgage today, the lender may require comparable data that is three months old or NEWER.  In the past, comparable data was used for mortgage appraisals that was up to six months of the current market.

The headlines in the local paper, Fort Worth Star Telegram and the national news may sound promising for the American people.  But, in the trenches of residential real estate as we are.....it is a crying shame.  There are REAL people with medical issues, job losses, children and elderly parents that have their homes posted for foreclosure.  Banks are not returning the calls of middle America and they are losing their homes one by one.

The Good News? We still have a real estate market in Fort Worth, Texas.  There are buyers who want to buy and sellers who want to sell. 

For the lake home owners in Fort Worth, Texas or Azle, Texas that are considering putting their home up for sale, now is the best time to have it on the market.  On Eagle Mountain Lake and Lake Worth, water front home sales occur throughout the year but they are somewhat impacted by seasonal influences on buyers.  Historically, the highest rate of sales for lake front properties happens between March and the middle of July in any given year.  Sellers are learning the value of getting an early start to make the most of the seasonal process.  For instance, two weeks ago we listed a waterfront home located at 4158 Shore Front Dr. and just last Sunday we just listed another water front home at 6772 Briar Rd.  Terri and I are listing a lake front home later this afternoon on Westwood Shores.   Should your home be on the market now along with these?  Call or email Terri and me now and set up an appointment with us to do a market analysis of your home to see what your waterfront might be worth. 

Regards!

Bernie