Jamie Roe

Be the envy of your friends in this spacious family home situated on a lg. corner lot w/towering trees in well established Greenewood Forest subdivision. There's plenty of space for entertaining or just hanging out w/the family as the home features 3 living areas, a formal LR, a family room & a downstairs gameroom! The Master BR is privately located downstairs while the 3 spacious secondary BR's are upstairs. If relaxing by the pool is your idea of the perfect day then this home is for you!

To see more of our properties so to www.joannbroughton.com or e-mail me @ jamierroe@yahoo.com

3rd QUARTER REAL ESTATE RECAP!!

In keeping with this month of Thanksgiving, I'm happy to be able to share some good news with you. The U.S. economy grew 3.5% in the third quarter, the best showing in two years. Consumer spending on big-ticket goods soared at an annualized rate of 22.3% in the same quarter. Spending on housing developments jumped at an annualized pace of 23.4% nationwide - the largest jump since 1986. On a National level, Real estate is also looking positive:

• Sales activity is at the highest level in over two years, according to the National Association of Realtors (NAR).
• Existing home sales jumped 9.4 % by October.
• Housing supply is the lowest it's been in two and a half years, according to Lawrence Yun, Chief Economist, NAR.

Here on the local level, I'm seeing some multiple offers for properties that are well-priced. Currently we have 6.2 months of inventory on the market which is considered an equal market. Don't believe all of the negative media you hear! As buyers absorb the inventory, home prices are predicted to rise in the first and second quarters of 2010. Now may be the time to act. Give me a call with any questions.

May your Thanksgiving be a time of happiness and bounty.

JUST ASK JAMIE!

Q: Has the $8,000 Federal tax credit for first-time home buyers passed, and what about non first-time homebuyers?

A: Yes, the Senate has reached an agreement to extend and expand the tax credit. Under the new agreement, first-time homebuyers could receive up to $8,000 in tax credits, and certain homeowners could receive up to $6,500 in tax credits. Under this bill the qualifying income limits have been raised. Single taxpayers' income limit would jump from $75,000 to $125,000 and joint taypayers' income limit would rise from $150,000 to $225,000. Buyers would have to be in escrow by April 30, 2010 and close by June 30, 2010 to qualify. THE GOOD NEWS is that this bill should help stimulate new sales in all real estate markets!

GREEN NEWS:

November is a great month to get the whole family involved in a green lifestyle. One of the biggest feasts of the year is Thanksgiving dinner. Here are some ideas for taking a fresh look on this tradition.

• Buy organic - free-range turkey, farm fresh vegetables and fruits set the tone.
• Decorate naturally - from bamboo placemats to cloth napkins to cornucopias of nuts and leaves with eco-friendly soy candles.
• Recycle - set up a separate area to manage your extra recycling needs.

If you want to check out the information on where to find "green" groceries, go to www.localharvest.org. For learning more about local recycling centers, go to www.earth911.com. With the holidays upon us, let's think green. Let me know if you have some other great ideas.

MORTGAGE NEWS:

Starting November 1st, getting a loan may be more difficult for some of us; government-backed Fannie Mae is tightening their lending standards. The required scores for good credit are rising. A credit score is a number representing the likelihood that a person will pay his or her debts, according to www.wikipedia.org.

Depending on the type of loan, anybody with a credit score of less than 620 will have a hard time getting a mortgage. According to Charles Capone, PhD Senior Analyst at the U.S. Congressional Budget Office, the mortgage market views a FICO score of 620 as the bottom cut off for prime loans. To get the best rates, you will need to have a score of about 720 as well as a steady income. People with scores above 720 are considered low risk borrowers.

With low mortgage rates and federal incentives for buyers, you may be thinking about buying a new home or refinancing your current home. To check out your credit score, you can go to www.annualcreditreport.com.

PERSONAL UPDATE (Short Sales)

As I'm sure you have heard, Short Sales are becoming more commonplace in our devalued markets across the Country. If you have any questions regarding short sales, or have the desire to proceed with one please call or email me first, I'll share my viewpoints and caveat's.

I also have experience in REO (Real Estate Owned by the Bank) sales, and have been successful in both kinds of transactions so I can give you a first-hand perspective and look forward to helping!

If you know anyone buying or selling Real Estate please send them my way!

Thanks,

Jamie, Joann Broughton Team! 832-341-3500 jamierroe@yahoo.com

Welcome to 20210 Mammoth Falls in Tomball Texas! If curb appeal lures you in, you won't be disappointed! From the moment you step inside you'll want to call this beautiful home YOURS! The Dramatic 2-story Formal Dining & Living Rooms are the perfect place to entertain, while the handsome Den invites you to sit back & relax. The Eat-in Kitchen also opens to the Den so the cook in the house won't feel left out! Upstairs you'll find the Mstr BR & Bath plus 2 other BR's & a Gameroom. Don't miss the screened porch.

4 bedroom, 2 bathrooms.......$144,900!

Livingroom Kitchen

Master bedroom Master bathroom

Porch Yard

If you have any questions or have talked to at lender and would like to view this home. Please e-mail me jamierroe@yahoo.com or call me 832-341-3500!

Thanks Jamie, Joann Broughton team! www.joannbroughton.com

My tip for the week is regarding pre-foreclosure work outs. Many of the servicing lenders are offering "forbearance" on their loans to borrowers that are in trouble. No one wants a foreclosure so if one of your customers calls and says they are in trouble- have them contact their lender IMMEDIATELY and ask to speak to someone about forbearance. If the homeowner can show reasons for their delinquency (laid off from work, medical or some cause that is not permanent) the lender may consider waiving their payment for a few months and adding them to the end of the loan. This gives the home owner time to find another job, recover from their illness or whatever needs to be done to get them back on track. A representative from FNMA was the speaker a couple of weeks ago at a seminar I attended and she stated they have seen this happen numerous times over the last few months and it has saved homes. If the homeowner has a government loan (FHA or VA) and the servicing lender is not cooperative, the homeowner should contact FHA or VA directly and see if they can get help that way. Both agencies have counselors and can sometimes work out a solution with the lender. Just remaining silent or quietly giving up their homes is not the answer. If they can show good cause, most of the lenders are willing to work with them. You may have to step in and help them get to the right person, but that will just make you their hero.

jamierroe@yahoocom

Never Been Leased Before. Owners hate to leave their home but will entrust it a responsible tenant. Great Open Floorplan huge Island Kitchen that includes wine refrig., icemaker, top of the line range. Wood Floors in most rooms. This home has space for everyone: study, gameroom and children's retreat! Tomball School District and a GREAT location, just off 249! Must have good rental history, no smokers, pets on a case by case basis.

If you have any questions please call @ 832-341-3500 or shoot me an e-mail jamierroe@yahoo.com!!