John Jones

If you are a physician or eligible professional in the Dallas area and are in the market to purchase a home or refinance an existing mortgage, your friends at BBVA Compass have tailored a special program called The Professional Program, which offers competitive rates and 95% mortgage financing for physicians/doctors in the Dallas area. (Program guidelines changed from 100% to 95% max financing as of 6/14/2011).

This program is only offered at BBVA Compass and is a unique opportunity for qualified Dallas area doctors/physicians and eligible professionals to obtain 95% mortgage financing on a home purchase.

Program highlights of the Professional Program for physicians (Program rules are subject to change at any time without notice):

• 95% mortgage financing up to one million dollars for primary residences.
• NO PMI (private mortgage insurance) required!
• Eligible properties inclue Single Family Residences, Town Homes, Lofts and Condominiums.
• Student loan payments are NOT included in the debt-to-income ratio calculation if they are deferred for at least 12 months.
• Expansion of loan-to-value ratios for physicians that want to refinance an existing mortgage.
• BBVA Compass offers a free investment and insurance review with a wealth management professional.

Doctors/Physicians Eligible for the 95% Mortgage Financing Program include:

• Resident or practicing physicians.
• Oral surgeons

Other Eligible Professions include:

• Attorneys
• Certified Public Accountants

Is the BBVA Compass Professional Program available in other areas besides Dallas?

YES! BBVA Compass offers this program in seven states:

• Texas
• New Mexico
• Arizona
• California
• Colorado
• Florida
• Alabama

The first step in the homebuying process should always be mortgage pre-approval. BBVA Compass makes pre-approval fast and easy. Their automated approval system allows for quick and streamlined loan pre-approvals with no application fee.

To consult with a BBVA Compass loan professional about this program, please call Cari Marks at (972) 705-4408. Or you can email her directly at cari.marks@bbvacompass.com

DISCLAIMER: I have no affiliation with BBVA Compass and am only providing this information as a service to doctors/physicians and other professionals that may benefit. If you are a Dallas area physician in the market to purchase a home, please call me today at (972) 978-3553 or email me at johnjonesrealtor@gmail.com .

Good news for Dallas Fort Worth area veterans and military servicemembers who would like to purchase a home and receive the $8,000 tax credit for first-time homebuyers or the $6,500 tax credit for move-up buyers!

Qualified military personnel, foreign service workers and members of the intelligence community have until April 30, 2011 to secure an executed purchase contract and until June 30, 2011 to close the transaction.

This special program for veterans and military servicemembers was signed into law as part of the original extension and expansion of the homebuyer tax credit that went into effect on November 6, 2009.

DEFINITION OF QUALIFIED SERVICEMEMBERS
Per the legislation, a "qualified servicemember" means a uniformed servicemember of the military, a member of the U.S. foreign service or the intelligence community who was called to an extended period of oveerseas service for at least 90 days between December 1, 2008 and May 1, 2010. (For those that were not called for extended service, the deadline to execute a purchase contract was April 30, 2010 and the closing deadline is September 30, 2010.)

A member of the military, foreign service or intelligence community who was called for extended duty of at least 90 days but was unable to complete this term due to medical reasons MAY still qualify for the extended deadline.

Consult with a licensed tax accountant to make sure you qualify. I am not an attorney or a CPA and cannot give legal or tax advice!

ADDITIONAL QUALIFICATIONS FOR THE VETERANS $8,000 FIRST TIME HOMEBUYER TAX CREDIT:

• The amount of the tax credit is the LESSER of $8,000 or 10% of the purchase price of the home. For example, a qualified individual who purchases a home for $68,000 will receive a tax credit of $6,800, not the full $8,000.
• The home purchased must be a primary residence.
• The income limit to qualify for the tax credit is $125,000 for single filers and $225,000 for married filers. Single and married filers who make more than this may qualify for a reduced tax credit amount.
• Home must be priced at $800,000 or less.
• Must be a first-time homebuyer (meaning cannot have owned a home in the last three years).
• Non-first time homebuyers may qualify for the move-up tax credit of $6,500.

QUALIFIED VETERANS: This opportunity to get the $8,000 tax credit will end on April 30th. All qualified veterans must have a home under written contract by April 30th but do not have to close the transaction until June 30, 2011.

For more information or to set up a customized home search, please call John Jones at (972) 978-3553.

Here's another guest blog from Tim Bob, the HVAC tech that I recommend to all of my clients.

AC and Heater repairs are best left for the professionals

Without proper tools or training, repairs end up with disappointing reports. Many repairs we are called out on are to correct improperly made repairs.

Here is a summary of common repairs and stumbling blocks a home owner may encounter.

• Replacing motors. The propellers or blades will be bent if a specialty propeller puller is not used. The unbalanced prop or wheel will eventually ruin the bearings on the new motor.
• All Furnaces. Many failed parts are parts that monitor the safe operation of the heat producing parts. The cause of the failed safety part must be identified.
• Gas furnaces. Computer boards are now used on most new furnaces and the need of manufacture's information to properly diagnose their failure. Older furnaces, using a thermocouple are probably near the end of their lives. A homeowner will not recognize a potential deadly crack in the heat exchanger or the fire danger of dirty burners. These old furnaces do not have the safety circuits that newer furnaces now have to protect you.
• Electric furnaces. Heavy current conductors need to be recognized for loose connections. Many furnaces use as much power over 250 light bulbs! Most of the time, there is no way to turn the power off near the unit. Smoke could pour out of the unit before the home owner can get to the breaker panel.
• Thermostat replacement- Many of my service calls are to correct problems caused by incorrect thermostat installations. Usually the problem is the wrong thermostat application for the HVAC system. Occasionally, other parts are then ruined. A thermostat set for "electric heat" probably is the wrong setting for an electric furnace. A technician knows why "gas heat" is the better option.
• Heat pumps- everything is confusing about these. A thermostat replacement is even a challenge to the experienced technician. With up to three stages of heat, time delay settings and software settings, a wrong set-up will result in inefficient energy savings. Home depot sells single stage "heat pump" thermostats that simply are the wrong thermostat for most systems.
• Working in the attic- It happens a lot. Falling or stepping through the ceiling. Ruins all your day.

Parts sold to home owners are sold at retail, the service company buys at wholesale and then sells at retail, allowing our profit. We are required to carry insurance and our license is subject to customer complaints. We guarantee our parts and labor. Labor rates may be high, but we have the tools, the manuals, and experience that allows us to work quickly.

Contact Tim Bob at 214-762-2598 for all your air conditioning and heating needs in Plano and Dallas.

Real estate industry professionals: Is it time for a new headshot?

If so, you'll want to take advantage of this opportunity to have your photo taken by one of Dallas' premier professional photographers for a substantially lower fee than he normally charges clients.

On Wednesday, November 10, Jason Janik will offer headshots to local area real estate industry professionals for $50. The price will include 15 minutes of time in his private studio located at his home in Lake Highlands (Audelia/Northwest Highway area).

Normally Jason charges anywhere from a few hundred on up to over a thousand dollars for corporate headshots. But for one day only, he's offering this special price for local real estate professionals.

Here are some samples of some work he's done with previous clients:

To register for this event, please contact Jason at 214-535-1062 or email him at the link provided on his website at www.janikphoto.com

OR you can fill out the quick registration form on my website and he will call and/or email you a conformation.

And here's a link to his blog post about the one day headshot event on November 10, 2010

The annual Cystic Fibrosis benefit concert of the CF Concert Series will be held on Saturday November 6, 2010 at the Granada Theater on Greenville Avenue in Dallas, TX.

The CF Concert Series was started in 2007 as a small effort organized by a few local music fans with a personal interest in helping to find better treatments and a cure for Cystic Fibrosis. Cystic fibrosis, or CF, is a life‐threatening genetic disease affecting approximately 70,000 children and adults. However, there is no government funding for CF research. All research and progress towards finding better treatments and a cure rely on funding from community events and fundraisers.

The series, held annually at the historic Granada Theater in Dallas, TX, aims to raise money for Cystic Fibrosis with an emphasis on adult research. Since the first concert in 2007, the CFCS and its participants, such as Rhett Miller of the Old 97's, have helped to raise almost $100,000 towards the cause.

The CF Concert Series is put on by the Breathe Easy Foundation (BEF). The goal of both the CFCS and the Breathe Easy Foundation is to help raise awareness of the disease and funding for the great strides being made towards CF research. All BEF proceeds go to the Cystic Fibrosis Foundation.

This year's line-up of performers includes Rhett Miller, solo artist and front man for the alt-country band The Old 97′s, Ben Kweller, successful solo artist and former front man for Radish, as well as John Pedigo and Taylor Young of The O's. Gordon Keith, local TV personality and host of the morning drive-show on KTCK SportsRadio, 1310 AM "The Ticket" will be the emcee.

A silent auction will also be held with all proceeds benefitting the CF Foundation.

Home Page for CF Concert Series

Purchase Tickets