FHA Credit Score Standards a Little Looser

For the first time in a long time, credit standards have actually loosened in regards to getting a home loan. Borrowers getting FHA home loans can once again get a mortgage with credit scores as low as 580.  Click on link below to find out more.

">FICOs and FHA: 2 big lenders loosen up Inman News

Slab Just Poured & Framing About To Begin...

The slab for the beautiful home below was poured this weekend and framing will start tomorrow.  Already getting lots of activity on this one...won't last long.



Concrete slab is 5 inches deep instead of the normal 4



CLICK HERE TO VIEW WEBSITE OF HOME



Feel free to contact me anytime on  my cell @ 870.219.0652 about this beautiful French Country loaded with upgrades on 3 acres.  Price only $249,500.

Agent is related to Builder.

Jonesboro Foreclosure Numbers Low Compared To National Average

Unlike other parts of the country, foreclosures account for a small portion of Jonesboro real estate transactions. According to data from the Jonesboro Association of Realtors, foreclosure sales in Jonesboro, AR made up only 16 percent of residential property sales in 2010, compared to the national 33 percent of homes sold in the U.S.  However in Jonesboro, the percentages get even lower as the sales price gets higher.  For example, 2010 home sales in Jonesboro that were $300,000 and above, less than 2% were foreclosure sales.  See the chart below for the breakdown.

Furthermore, in an effort to maintain the momentum gained by the housing market, the Los Angeles Times reports the Federal Housing Administration has decided to extend its suspension of government anti-flipping rules to increase FHA lending.

 

Last January, officials enacted a one-year suspension of the rule to allow homebuyers to take advantage of the FHA's low down payment requirements to buy up some of the vast foreclosure inventory present in some parts of the country. Officials told the paper they are planning to extend the suspension for another year.

 

The original rules, which are designed to keep unscrupulous investors from defrauding the government, prevents a buyer from getting an FHA loan if the seller hasn't owned the property for at least 90 days.

 

The paper says while the rule does cut down on fraud, it also keeps legitimate property investors from buying a home, fixing it up and reselling it for a profit to a real buyer. 

 

National Home Sales Show Significant Gains

The National Association of Realtors says home sales picked up significantly during the month of December, creating optimism among economists about the future of the housing market.

According to the NAR's monthly report, sales of existing homes rose by 12.3 percent in December compared to the previous month, rising to an annual rate of nearly 5.3 million. While that is 2.9 percent below the pace from December 2009, those numbers are distorted by the homebuyer tax credit.

"The pattern over the past six months is clearly showing a recovery," said Lawrence Yun, NAR chief economist. "The December pace is near the volume we're expecting for 2011, so the market is getting much closer to an adequate, sustainable level."

Home prices remained relatively level, with the $169,300 median single-family price coming in just 0.2 percent below numbers from 12 months prior.  Jonesboro's average price for a single-family residence was about $30,000. lower than the national average.

Jonesboro Board of Realtors data for the Jonesboro real estate market were up $15,887,615. in sales from 2009. 

House Crushing...

While snowing yesterday afternoon, I went "house crushing" online. "House Crushing" is what I call looking at gorgeous homes online! I hadn't intended to, but clicked on a video on facebook from my friends The George & Noonan Group in Southlake, TX.  Kind of like eating potato chips, I couldn't just "crush" on one.  I ended up looking at many stunning and spectacular homes advertised on their site.  You can have splashes of luxury and elegance in any size home, one doesn't have to live in a multi-million dollar mansion.  Thus...the reason I like to "house crush" online.  Below are two slide shows of some of the photos I loved.  Enjoy!

Below are photos of absolutely beautiful kitchens, master suites, media rooms and more.
ENLARGE VIDEO FOR BETTER VIEW

Check out the stunning exteriors, fabulous pools and spectacular outdoor living spaces of these Tuscan Villas.

Which is your favorite?

See How Low Interest Rates Affect Your Mortgage

At Wells Fargo, it’s typical home purchase 30-year fixed rate increased back up to 4.875%.  When I read the word "increased", it amazes me that interest rates have increased to ONLY 4.875%.  Do you realize how great of a rate that is???  When my husband and I purchased our first home in 1991, our interest rate was 9%!  When I sold real estate in the mid 90's interest rates were roughly 7% - 8%.  Again, when I read the word "increased", I'm simply amazed!  I really believe people simply do not realize, or have forgotten, how much these low rates will save you on a monthly mortgate.  These rates are not going to last and are not going to get any better than this folks.  Below is a chart to illustrate how much today's low interest rates make a difference in a monthly mortgage payment.

more house for the $$$

From 5% to 8%, there is almost a $500. A MONTH savings on a $250,000. 30 year mortgage.  Let me repeat...$500 a month, that's a good car payment!  Assuming interest rates go up to 6%, to have the same monthly payment with a 5% rate on a $250,000. 30 year mortgage, someone would have to get a mortgage of about $225,000.  What would that $25,000 difference cost you?  If someone were to buy a new home at $100 a foot, that person would get 250 less in square feet.  To put this into perspective, 250 sq. ft is equivalent to a 15 x 16.5 room or two rooms, such as, a bedroom AND an office.  Ask yourself, would you rather your money pay for more enjoyable living space or interest to a mortgage company? 

One thing I do know, and others know, these record low interest rates are NOT going to last.  All the experts are predicting they will rise and soon.  In addition, home prices are really good right now in Jonesboro.  If you are riding the fence on buying a home, for whatever reason, these two reasons alone should be enough to make you get off the fence and take advantage of this great opportunity while you can.  I just do not believe it's going to get any better than this!

If you have worked with me before, I'm sure you would agree I am not a pressure salesperson.  I want my clients to feel comfortable and confident they are making the best decision for themselves.  So I just wanted to add by writing this post, I am not trying to persuade people into something that would not be beneficial to them.  This truly IS a great time to purchase a home!

Vern Yip Is Coming To Jonesboro

Photo from I.O. Metro Blog

Just saw this on facebook and wanted to share

VERN YIP is Coming to See JONESBORO! Vern Yip will be at the I. O. Metro in Jonesboro on February 8th at 6:30 - 8:00 p.m.  According to I.O. Metro's blog, you can also save 10% on one item during the event.  Visit I.O. Metro's website here.

Vern Yip has his own HGTV show, Deserving Design with Vern Yip.  You can also catch Vern on HGTV in episodes of  HGTV Showdown, Bang For Your Buck and a new series titled First-time Designer.  Visit Vern's website here.

 
I am planning to attend and hope I get a picture of us together for my blog.  That would be so cool!
 
If you see me there...come say hi!
 

Great Service Equals Success

After looking at his broker's report, Fred Dacus (my broker), called to congratulate me on my success for 2010.  I am the #10 agent for residential sales for 2010 out of 211 agents in the Jonesboro Board of Realtors.  There is a rule of thumb in real estate that 80 percent of real estate sales are accomplished by 20 percent of the top salespeople.   It is exciting to know that not only am I in the top 20% but actually in the top 5%.  What I am most proud of is knowing the majority of the agents above me are real estate teams.  The way a team works, as far as sales production, is each agent's production on the team is combined together and goes under one agent, the team leader.  In example, if a team has five agents on the team, every sale of each individual agent goes under the team leader.  That is why it's hard to be in the top 10 when your individual production competes with teams of multiple agents.  There were seven teams in the top 10 for 2010 and only 3 individual agents.

#1 Agent -   Team of 6

#2 Agent -   Team of 4

#3 Agent -   Team of 5

#4 Agent -   Team of 6

#5 Agent -   Individual agent

#6 Agent -   Team of 4

#7 Agent -   Team of 4

#8 Agent -   Individual agent

#9 Agent -   Team of 3

#10 Agent - Individual agent - Sheila Conkling

Even though I advertised all year as Smith & Conkling, it was only me, myself and I.  I didn't even have an assistant!  Knowing how hard it is and what a great accomplishment to make the top 10, as an individual agent, I would like to congratulate the other two agents, Kevin Kercheval with Coldwell Banker and Jon Moore with ERA Steve Doty.  Both are hard working agents and respected in the field.  I would also like to congratulate Fred Dacus Associates for having four agents/teams in the top 10 for residential sales.

Most of all, I would like to thank each client who hired me as their agent and used my services.  You are the reason I love my career and look forward to helping others.  Like homes, each of you are unique and special. I enjoyed working with each and every one of you to reach your goal of buying or selling your home.

I am looking forward to 2011 and think it will be another great year! 

A Home Should Be A Place Of Harmony and Relaxation

I am at my wits end on clutter and un-organization in my home.  This past year has been crazy busy to say the least.  I used to be a fairly organized and clutter-free person.  However, working very long hours and being a mother again to a little one leaves little time to keep everything in my home picked-up and organized.  As far as my husband helping...forget it!  He has never been organized and lays everything on anything that has a flat surface.  I tried hiring someone to clean our home but that didn't work out too well.   We would have to make a mad dash to pick-up the clutter (toys, mail, paperwork) before the house cleaner came. There were two times we didn't have time to do it, so we canceled the appointment.  The house cleaner then filled our weekly space with someone else.

I've heard and have read that clutter causes stress and clutters your mind.  I can attest that is true!  It is so stressful when I'm in a hurry to leave for an appointment and can't find something I need.  Going on an all look-out search for something does stress me out.   When I am working in my home office and there are stacks of paperwork all over my desk, I literally cannot think straight.  Plus, I cannot fully relax in my home with a cluttered environment.  I like my home to be very neat and tidy.  

So I have decided we are not going to live like last year, this year.  I don't think I could anyway!  I can just imagine sitting down to a clean desk with a clear mind being able to work effortlessly not having to worry about the clutter and chaos that has built up around me.  So what's a girl to do?  I turned to the internet for help and googled "organization tips" and "how to get rid of clutter".   I know I'm not the only person with this dilemma.  Remember, I show houses.  So I wanted to share what I learned.

One article started out with this paragraph.  "Is clutter driving you crazy?  (YES)  An organized lifestyle can mean efficiency in your day and a more relaxing time while at home. (I knew it!)  

I liked this site because of the tips and at the bottom of the page are links to specific areas, such as home office, kitchen, laundry room, etc.

Link for your home:
http://www.squidoo.com/DeclutterAndOrganizeYourHomeFast

Link for your home office:
http://www.squidoo.com/organizeanddeclutteryouroffice

Link for your laundry room:
http://www.squidoo.com/How-To-Organize-and-Declutter-Your-Laundry-Room

Link for your bathroom:
http://www.squidoo.com/How-To-Organize-and-Declutter-Your-Bathroom

So my goal this year is to make my home a haven again, like the following quote from DesignThatHouse.com

"Your home is where you live…not just physically, but emotionally.  It should be your pleasure to open your eyes each morning and walk through your door each evening...coming home to a place of harmony and relaxation."

I feel better already!  Hope this helps anyone who would like their home the same way too.

Only 5 Lots Left In Amesley Manor!

I just sold the 8th lot out of 13 in the beautiful gated community, Amesley Manor.  There are now only 5 lots left!  Each lot in Amesley Manor consists of 3 acres and enjoy the beauty, luxury living, and multiple secure entry options with intercom capabilities from home to the gate key pad. 

click pic to enlarge

click pic to enlarge

Amesley Manor is beautiful in both Summer and Winter!

Come experience the beauty of Amesley Manor.  Become a part of the few who will enjoy living at Amesley Manor.   



Visit the website for Amesley Manor by clicking the photo above

click photo above to view "old world elegance" under construction in Amesley Manor



Feel free to contact me anytime regarding lot information or homes for sale in Amesley Manor



Quick Stats for December, 2010

Below are the stats from the Jonesboro MLS

Average DOM:
December 2009: 101
December 2010: 109

Average Price of Active Listings:
December 2009: $108,225
December 2010: $125,708

Number of Active Listings:
December 2009: 826
December 2010: 798

Number of Listings Sold:
December 2009: 107
December 2010: 102

Average Price of Sold Listings:
December 2009: $108,225
December 2010: $125,708

MLS Sold Volume (YTD):
January 1, 2009-December 31,2009
$189,722,196
January 1, 2010-December 31, 2010
$205,609,811

Real Estate Sales in Jonesboro were up $15,887,615. from 2009. 

Real Estate activity was really busy last week, busier than usual for the first week of January.  All my listings showed at least once, with one showing three times.  I also experienced a big increase of property calls from buyers.  There have been 35 properties go into "pending" since the first of the year.   Pending means the property is now under contract and is pending the closing of the sale.  So 2011 has started out with a bang!

Would you like to know how much your home could sell for in today's market and what your net would be at closing?  Please feel free to contact me anytime and I'll show you.  It's free and there's no obligation to list your home.

How to Fold A Fitted Sheet

I have never been able to fold a fitted sheet!  So when I saw this video I just had to share for any blog readers, who like me, need extra space in their linen closet!

Rare Opportunity...Luxury Home on 3 Acres Under $250,000.

New Construction, an European style home beautifully sited on a 3 acre corner lot. Finished in slurry brick/stone and accented with arched windows and stained shutters, all create an impressive curb appeal. Upon entering through the iron entry door, guests are greeted in the vaulted foyer where archways, iron railings and beautifully acid stained floors set the stage for elegant and spacious living.

Cedar Wine Rack

Opening to either side of the foyer are the office that has a closet which can serve as a 4th bedroom and the formal Dining Room that boasts a cedar wine rack. Capturing views of the patio just beyond, the vaulted living room offers the welcoming warmth of a stone fireplace and is open to the kitchen giving it that open, airy feel. Nestled between the dining room and breakfast nook, you'll find a spacious Kitchen with large eat-in bar, plenty of beautiful distressed cabinetry, granite counters, copper sink, cooktop with wood/copper vent-a-hood, tiled backsplash, pantry, and stainless steel appliances. Vaulted and oversized Master Suite features spacious Bath that boasts jet tub with tile surround, separate walk-in slate tile shower, large walk-in closet with double entries, distressed cabinetry, granite counters and copper sinks. A half bath and a Laundry Room with distressed cubby are conveniently located and complete the main level.

Vaulted Ceiling with Wood Beams

The wrought-iron staircase leads to the second level that enjoys a look-out to the living room and kitchen below. Two additional Bedrooms share a hall Bath with distressed cabinets, granite counters and copper sinks. The second level also enjoys a future/optional bonus room and completes the well-arranged floor plan.

Agent is related to Builder/Seller.

To view details and photos of features click here.