National Association of Realtors 2014 Projections!
Wednesday, October 30, 2013
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School Rating System Changes! - Say it isn't so!
Monday, October 28, 2013
TEA finally made the change to the new rating system. How does the new system stack up?
New 2013 School Accountability Ratings
- MS* = Met Standard with one or more Distinctions
- MS = Met Standard
- MAS = Met Alternative Standard
- IR = Improvement Required
The Texas Education Agency has released the 2013 state accountability system ratings for school districts throughout Texas. Districts receive one of three ratings under the new accountability system: Met Standard, Met Alternative Standard, or Improvement Required. The MS* denotes that the campus received Met Standard rating plus distinctions under the 2013 state accountability system.
The Distinction designations recognize outstanding academic achievement in reading, English language arts and mathematics on various indicators of postsecondary readiness. Campuses that receive an accountability rating of Met Standard are eligible for Distinction designations in 2013. The individual Distinction designations are listed on the TEA website.
The Mortgage Minute! - Upcoming changes in residential mortgages!
Friday, October 25, 2013
Thank you to Marcel Deitrich of WR Starkey!
The mortgage market is changing again. Over the next two months, we have several changes that will affect mortgage options for consumers.
Because the FED did not begin the tapering of Quantitative Easing, interest rates have lowered a bit, and are now at 6 week lows. It was a shock to most who were expecting the tapering to begin, which means the FED may also shock and start the tapering when most now do not expect it. Quantitative Easing is the 85 Billion Dollars that the US Treasury is putting in to bonds and mortgage backed securities monthly meant to artificially keep interest rates low and stimulate housing and the economy.
On October 1st, the government will be shut down if the our politicians do not come to an agreement on raising the debt ceiling and Obamacare. Part of this shut down could be the IRS. This is important to home buyers because lenders have to verify filed tax returns through a transcript they order from the IRS. If the IRS is closed, it would stop mortgages where the lender had not received those transcripts.
FHA starting on October 15th is changing their rules with regard to collection accounts. After that date, collection accounts over $2,000 will have to be paid off, or 5% of the collection balance will put in the debt to income ratios, meaning buyers will qualify for a lesser loan. The is true not only for the home buyer, but also for a spouse not on the loan.
On November 15th, Fannie Mae is changing their Automated Underwriting system. It will no longer allow for the very popular 3% down conventional loan program. Buyers interested in using the conventional 3% down program must act quickly.
That wraps up my Mortgage Minute.
Give me a call if you have any questions.
MARCEL DEITRICH
SENIOR LOAN OFFICER
Christie Cannon's Home Search Mobile APP!
Thursday, October 24, 2013
Just click & go!
Real-time updates! Latest MLS based info! Easy to use! Map searches!
Outlining search areas is as easy as drawing with your finger!
Update on the Dallas Cowboy's Stadium & changes coming to Frisco!
Wednesday, October 23, 2013
- Location is northwest corner of Dallas North Tollway and Warren Parkway.
- Development will include an indoor stadium, plaza, restaurants, Cowboys headquarters, retail, office buildings, and hotels.
- There will be 1.71 million square feet of space, including two hotels with 450 rooms.
- This is an optimal site because there is $4.5 million in retail within one square mile.
- An adjacent 250 acres has been sold to the development for a total of around 350 acres in the entire project.
- The Cowboys will be the signature tenant on the 350 acres.
- The sports facility portion is 20 acres and is comprised of an indoor stadium, outdoor fields, parking, and Cowboys offices.
- The City of Frisco is donating 91.645 acres plus $30 million. No increase in property or sales tax is required.
- Frisco ISD already had $30 million budgeted for the construction of a new stadium.
- FISD gets first right to the indoor stadium on Friday and Saturday nights.
- The Cowboys are responsible for 100% of the field maintenance.
- The stadium budget is $90 million and the stadium will be owned by the City of Frisco.
- The development is expected to pay Frisco up to $1.26 billion in cumulative taxes.
- Plans will be drawn up over the next 9-12 months and construction to begin August 2014.
- All overruns will be paid by Blue Star Development (Cowboys).
- The Cowboys want to be in their facility for 2016 training camp.
- Warren Parkway will be widened by two more lanes (inside lanes added).
- Lebanon Road is also expected to be widened by two more lanes (inside lanes added).
- Dallas Parkway (North Dallas Tollway service road) will be widened by one lane from Lebanon Road south to State Highway 121/Sam Rayburn Tollway.
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