John Hardimon National Mortgage Consultant, Collin Co.

OK, so I had a ReMax Real estate office ask me to come speak about all the current events politically and how they affect the financial landscape relative to real estate in Dallas and Collin Counties specifically. Naturally, I prepare and plan to just really excite them about the possibilities and potential that the convergence of current trends present for those real estate professionals in North Texas. But, i realized that they are NOT financial geeks like me who can salivate over the beauty of well-run spreadsheet in Excel (in fact many do not ever use this wonderful program [sigh]). so, I just broke it down to three trends, and one action item. Enjoy!

Trends:

1) Lowest . . . rates . . . ever. Need i say more? This is good for buyers. they can purchase more than ever, for less.

2) Anxious sellers/lots inventory: again good for buyers. For North Texas, i don't know that i can ever remember a time that sellers were this excited to sell. Can you buy much in Collin County that will NOT go up in the next few years?

Note: the two trends alone are insanely good enough to make every person in real estate do very, very well.

3) Ok, here's the one that just makes it really crazy: the government is going to PAY people to buy houses. No, i'm serious, that's what a tax credit basically is, a payment back that they would never have given you before. we need to change the old adage about death and taxes: only death is certian now! 8000 from Feds + 2000/year from Primelending's MCC program = goodness!

The three trends converging at the same time create the perfect storm for frst time home buyers FOR A SEASON. the government knows that it cannot do all this nonesense of bailouts and credit forever (socialism has already proven a failed experiment) and they have a deadline ---- 12/1/09. after that, watch for the FED to stop buying so many MBS (mortgage backed securities) and therefore rates to begin climbing . . . precipitously. ok, no crystal ball here, but they put the date down for a reason.

So, the action item: call everyone in your database focusing on the facts and what they mean for first-time homebuyers. IT IS NOW MORE EXPENSIVE TO RENT THAN BUY in a lot of cases. well, one of them actually did it! we took four applications for first-time buyers this week. so, let's fix our economy the old fashioned (and i guess less popular way) --- let's go to work! This financial real estate nirvana will not last forever. I'm an Aggie and even i can figure that out :)

To yours, mine, and their success!!!

John Hardimon

Hello all you awesome real estate-minded folks!

Just wanted to share an awesome story from last month's closings. With all the negative poop (that's a technical term) out there about our industry, maybe it will helpful to remember what we do, and why.

Case in point:

I had a lovely empty-nester couple wanting to buy their retirement home, and really fix it up well. One is a retired pastor, the other finishing up their career in the next few years. They know it's a great time to pick up a bargain, and they did - a foreclosure in north Plano with a nice amount of equity. They were so thrilled, BUT they didn't want to pay for all the repairs after the down payment - after all, retirement is looming for this couple. They had approached their bank, but the rates and fees to pull that off were a little heavy.

Fortunately, we had an opportunity to talk, and they knew it was always better to use a specialist in financing (not just a bank). We were able to roll the repairs and upgrades they wanted into their 30 year fixed rate mortgage - with a rate savings and fee savings over their own personal bank.

Now, they have their dream home fixed up just the way they want, without having to outlay all the cash to fix it up THEIR way.

Thanks to Ghitta Torrico, of Ebby Halliday, for being a great agent on this transaction, and helping these folks buy their dream home (and make it dreamy!).

If you want to make some more success stories in this goofy time: please don't hesitate to call --- we're not out of creativity and service on the Hardimon team! I can't help folks, if you don't introduce them to me.

Now, let's go make some more success stories together!

Blessings! J