edar Creek Lake Fishing Report for May 2009

I hope you enjoy the Cedar Creek Lake fishing report!
Water lightly stained; 69-75 degrees, .13 foot high. Black Bass are fair on red Rat-L-Traps, jigs, and drop shot rigs-pre-spawn are around the first drop-off. White bass are good on slabs and minnows. Hybrid Striper are fair on live shad and slabs. Crappie are fair to good on minnows and jigs. Catfish are fair drift fishing with cut shad.

Choosing your Agent

Once you have made the decision to purchase or sell a home, the next step is to find a real estate agent who will best represent you and your housing needs.
There are three types of real estate agencies: the Buyer’s Agent, the Seller’s Agent, and the Intermediary Agent.
These are the three typical Agent/Client relationships that may occur. The terms of these relationships may vary from state to state, so please verify the terms of these Agency Agreements in your local area before signing any agreements.

The Buyer’s Agent
Many prospective home buyers do not feel it is necessary to contract the services of a real estate agent. They feel that the listing agent will represent them fairly during the buying process. However, what many buyers do not know is that the listing agent, or Seller’s Agency, works solely on behalf of, and in the best interest of the home seller. Therefore, it is essential that the buyer seek out and find a Buyer’s Agent that will best meet their needs.
A Buyer’s Agency works solely on behalf of the buyer. The buyer’s agent will assist their client in the negotiation of the terms of a contract. In addition, they will gather information on zoning issues, past tax data, schools and community services, and any other information deemed necessary by the buyer before making the decision to extend an offer on a home.
Many prospective home buyers have the misconception that once they begin working with an agent, he/she represents the buyer. However, this is not always the case. Unless there is a signed Buyer’s Agency Agreement, the agent that is working with the buyer still represents the seller’s interests in the transaction. Without the agreement, there is certain information that the agent cannot disclose to the prospective buyer:
· The reason that the owner is selling the property.
· Any concessions that the seller is willing to negotiate.
· Any conversations between the seller and the agent.
· Any disclosed information that would harm the seller and/or give the buyer an advantage in the contract negotiations.
Normally, there are no extra costs associated with signing a Buyer's Agency Agreement. Any commissions paid to agents in a sales transaction are usually paid at closing by the seller.

The Seller’s Agent
This agent solely represents the seller. If there is an agent involved in a sales transaction, by default, that agent will represent the home seller unless there is a signed Buyer’s Agency Agreement with the buyer.
When looking for an agent to work with, it is best to interview a minimum of 2 to 3 real estate agents before making your final decision. Ask friends and relatives for names that they would recommend.
Below is a list of questions that may help you in deciding on which agent will best meet your needs:
· How long have you been in the Real Estate Business?
· How familiar are you with the area? How long have you lived in the area? How long have you sold houses in this area?
· How many clients are you currently working with?
· Do you work with more sellers or buyers?
· How many homes did you sell last year?
· What is your typical commission?
· How do you plan on marketing or promoting my home?
· Can you provide me with names and phone numbers of some of your most recent clients who would be willing to give me a reference (if this agent has not already been referred to you by a friend or family member)?
When selecting a real estate agent to represent your interests, it is important to find an agent that you trust and feel comfortable with. Remember, this is probably the biggest sales transaction you will have in your life, so it is important to work with someone that you are sure will get you the best offer!

What to Look for in an Agent
In addition to finding a real estate agent that you feel comfortable with and whom you trust, make sure that he/she is a dedicated professional who will work with you until your goals have been met.
They should be familiar with the area. Not only should they be familiar with the housing market, but also with area churches, schools, clubs, and parks.
Also, look for an agent that is a licensed REALTOR®. REALTORS® are individuals who are members of the National Association of REALTORS® (NAR), and must adhere to its strict code of ethics.

By following these guidelines, your home buying or selling experience should be a pleasant one!

Avoid Mistakes of Beginning Investors!

Investing in real estate provides many owners with positive cash flow, tax benefits and the satisfaction of making an impact in others’ lives. Like any investment, real estate has market trends that, if ignored, can cause an investor tremendous headaches.

Many first-time investors part with their hard-earned money without taking the time to study their investment. They rely on traditional trends and gut feeling. Before you risk your money, take the time to learn all you can about your market. By aligning yourself with the right professional, you can avoid these twelve common mistakes and ensure an excellent return on your money.

1. Failure to determine your time needs. Money, capital appreciation, tax benefits, loss of management, equity pay down and simple pride of ownership are a few of the things that must be addressed before you make that first investment. A service-minded real estate professional can be a tremendous asset by taking the time to evaluate your needs and make sure you’ve got all your bases covered.

2. Not checking out the seller or seller’s agent’s numbers. Claims of extremely high rates of return run rampant in real estate investment. Don’t get caught up in a wave of excitement regarding a property. Check every detail - rents, payment history, taxes, expenses, deposits, future modifications - everything regarding the finances of a potential investment. Be certain you are working with a good agent - it’s like an insurance policy against overlooking all the seemingly insignificant but very important details.

3. Don’t get emotionally attached, it’s just business. Owning investment property carries with it a great potential for creating and holding wealth, but you may also be forced to make potentially difficult decisions. Evictions, re-investment into the property, and time management all need careful consideration. Real estate investment is not a “hand’s off” type of business - it will require your vigilance.


4. Avoid negative cash flow. Property that eats cash every month can drain your working capital rapidly. This can create stress, frustration and become painful over a period of time. Expecting constant appreciation and positive cash flow may be unrealistic for a novice investor. A strain on your bank account may cause you to sell the investment before the benefits of ownership are ever fully realized.

5. Failure to do a thorough inspection. Look everywhere! Hire a professional inspector. Ask the tenants about pest problems, structural damage or recurring problems and don’t overlook anything. A value-driven real estate professional will help you find the right inspector and can help you avoid costly mistakes.

6. Failing to have adequate insurance. Investment properties bring liabilities such as tenants, cars, parking lots, cleaning facilities, property liability - the list can be both extensive and daunting. Adequate insurance coverage is an absolute must. Be sure to consult with an insurance professional to protect your assets.

7. Inspect, approve, and confirm all documents. The list of documents that need to be proofed can be overwhelming to the first-time investor. Building permits, zoning laws, rental and lease applications, health licenses, inspection reports, title policies - the list is long and you can’t risk oversights on any of these. The right real estate professional will work with you to make sure nothing gets overlooked.

8. Get a bill of sale for all personal property involved. Many types of personal property (appliances, furniture, draperies, fixtures, etc.) can be involved with an investment sale. Be very detailed and know who owns what.

9. Charge fair rents. Vacancies, turnovers and lease terminators are your biggest expenses. Charge fair rent, treat your tenants with respect and respond quickly to their needs. It’s a lot less costly in the long run to take care of the little problems while they are still little rather than waiting. A vacant property doesn’t make you money.

10. Select qualified, good tenants from the start. You must take the time to check references. Previous landlords, employers, financial references, credit and judgments are all vitally important. If there are any questions, do a thorough investigation. Drive by their previous residence. A little work up front can save you all sorts of problems later on.
11. Make sure you get estoppel letters. Get letters from the tenants confirming the status of tenancy. Make sure their version of the rental agreement or lease corresponds with the seller’s interpretation.

12. Don’t spend positive cash flow. Most successful investors have free and clear properties. Be sure to re-invest your positive cash flow back into the property payment and speed up the amortization schedule. This decreases your debt load and increases your equity, which in turn increases your net worth.

Investment property can be one of the most rewarding aspects of your financial portfolio. Be sure to be as knowledgeable as possible before risking your money. Do your homework! Consult with a professional real estate agent and protect yourself from the hidden troubles that can plague first-time investors.

13. Choose your agent wisely. Working with a full-time professional real estate agent is a must. Choose your agent by asking questions of him or her. Find out how knowledgeable they are about houses currently for sale in your price range and also of houses that have recently sold. Does your agent work with a good lender that has the reputation of excellent service and low rates to assist you in obtaining financing? Does your agent ask questions of you in order to have a full understanding of what you are looking for and to help you to find the best property for you?

For prompt, courteous, professional service, call Robin Moon:
Office: (903) 887-7055
Cell: (903) 880-5351

Visit my web site at: www.robinmoon.com
E-mail: robin@robinmoon.com
Have questions, need advice you can count on or just want to discuss this further?
Don’t waste any more time; pick up the phone and call me now! I’m here to help!

I appreciate you as a client and a friend. I appreciate your business, your loyalty, trust and your referrals. It is my goal to provide the very best counsel, advice and service possible for your real estate needs. If I may ever be of assistance to you, a relative, friend or co-worker please don’t hesitate to call me. I look forward to the opportunity to serve you.™

Tax Time!

Don’t you just love it when tax appraisal time comes around? You never know what you’re going to get! As a REALTOR® I am often amused when the tax appraisal value of homes can go up while the actual selling price of homes may go down. Kind of makes you wonder what criteria the bureaucrats are using when they value our homes.
This is the reason why buyers shouldn’t get carried away just because a house is being offered at “10,000 below tax appraisal!!!” That tax appraisal may not be in harmony with the actual market price of the house in question. When buying or selling, market value is the real deciding factor. Where the real estate market is concerned, a home is worth exactly as much as the most eager buyer is willing to pay.
As an experienced REALTOR®, I will do a comparative market evaluation (free, of course!) on your property. I will take into consideration all of the comparable property sales in your market area and factor in the things that make your home unique. This helps us to set the price of your property at the right place—and positions you to realize the greatest profit in the least amount of time.
Even if you are not currently thinking about selling your home, it is useful to have a comparative market evaluation prepared. And when it’s free, with no obligation, why not take advantage of it?
Feel free to e-mail me at robin@robinmoon.com or call at 903-880-5351

Real Estate Trends

The largest government spending initiative in America's history is now underway. The expectation is that stimulus spending will go where it is likely to benefit the largest number of people. This means the focus will be on big cities in States with high unemployment. These states will benefit immediately from the improvement in payments to the unemployed and cities in these states may also benefit from infrastructure spending. California is interesting not only because its large population will see billions in personal income tax cuts and unemployment relief, it will also benefit from significant infrastructure spending in the IT and high-tech manufacturing sectors. California companies are leaders in alternative energy and this sector is about to take off in a big way. California could be a big winner.Another important factor to be considered is President Obama's conviction that continuing urban sprawl is not in the nation's best interest. High transportation costs, an aging population and runaway costs for health care and social services all point to revitalization of America's inner cities during the Obama Presidency.In severe economic downturns the retail sector suffers immediately. Many businesses close and vacate their premises. These vacancies often create outstanding opportunities for developers particularly where a 'change of use' is viable. Conversions of highly visible vacant industrial space into lower cost space for retailers forced to relocate can be very profitable. Redevelopment of abandoned inner city factories, warehouses and older office buildings into studio offices, apartments, boutique hotels and condominiums will become increasingly popular. Change creates opportunities.In the near to medium term new suburbia will probably not see strong growth in most cities. Older suburbs, the inner rings, will continue to experience pressure to increase housing density and increase availability of support services. Look for sites that are well located for seniors housing in these areas also consider soft rezoning of good locations for sites that work for community medical centers. In some inner ring areas contiguous residential foreclosures will enable site consolidations. Land value may often significantly exceed the cost of buying all the homes and rezoning the property. This is expected to be a significant development opportunity across America for the foreseeable future.Growing rental market demand will come from immigrant families and others requiring low cost family accommodation with access to public transportation or a short commute to work. In order to maintain and grow tax revenues municipalities can be expected to be more open to rezoning inner ring residential areas enabling higher density development. Prime recreational real estate (particularly waterfront property) will benefit from the wariness of individuals to participate in the stock market. Expect to see competitively priced, investment quality properties begin to sell early in the recovery and continue to attract buyers. The renewable energy stimulus initiative opens a brand new market for land with development potential for solar and wind power