Leading Cause of Financial Crisis for an American family

Do you know what the leading cause of financial crisis for an American family are? It could that one event in their lives derails them ie. A loss of a job, an illness etc, or it could be a series of events.

According to the Debt Solutions of American average client profile, the cause of financial problems are broken down accordingly:

Excessive use of credit / Over Obligation: 39%

Reduced Income / Unemployment: 24%

Poor Money Management : 15%

Divorce / Separation: 8%

Other: 14%

Carlos Salinas
"Real Estate Magician"

Carlos Salinas Named Commissioner Of New Minor League

The following article appeared in the ForneyPost.net

Carlos “The Real Estate Magician” Salinas has joined the Forney Youth Baseball Association as a commissioner, bringing a wealth of baseball experience to our community league.

“We are very proud that a professional like Carlos Salinas with his dynamic potential has agreed to help us execute our vision under our new association with Little League,” said FYBA Director Kevin Wingfield.

As commissioner, Salinas will oversee many key FYBA initiatives, including the launch of a new season under the new affiliation with Little League. Additionally, he will drive the Minor League coaches to strive for an all kids play and that we all have fun.

The Forney Youth Baseball Association is focusing on our kids and community involvement. FYBA was established for our kids to have fun while learning, team work, character, courage and loyalty.

Salinas, a Forney resident is a REALTOR® and Mortgage Loan Officer, very organized, results oriented professional with extensive real estate experience in buying, selling, investment properties and loans. He’s married for 16 years with 3 boys, volunteers not only with FYBA but, at many city and church events as well.For more information on FYBA contact Carlos Salinas at (214) 417-4455 or http://www.realestatemagician.net/.

Carlos Salinas
"Real Estate Magician"

Statewide Facts on Texas

Texas real estate (RealEstateMagician.net) remains a strong long-term investment. The average home sales price in Texas has increased $15,600 from December 2004 to December 2008; over the same four years, median sales prices (half of all homes sold are priced higher and half are prices lower) increased$8,600.

Texas has a balanced market.Statewide, there was 6.4-month inventory of homes for sale at the end of 2008 Find one now at Real Estate Magician. Economists at the Real Estate Center at Texas A&M say that inventoryabout 6 ½ months of inventory is a balanced market, where homes are being sold and prices continue to increase at a moderate pace.
Texas homes have appreciated steadily. Home-price appreciation in Texas has not fallen below zero in the last 16 years.

Texas has steady home value appreciation. Sales prices in places like California, Florida, Nevada, and Arizona have had rapid rises and dropsin values, while Texas prices have remained relatively steady.
Most borrowers are approved. According to a report by the National Association of REALTORS®, 91% of buyers in Texas were NOT rejected by lenders last year. Get a Home Loan or Refinance Today.

First time home buyers qualify for a $8,000 tax credit that does not have to be repaidif the buyer remains in the home for at lease three years.
Courtesy of Dfw Realtors & Carlos Salinas Real Estate Magician

Carlos Salinas
"Real Estate Magican"

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First Time Homebuyer Tax Credit

First Time Homebuyer Tax Credit is an $8000 tax credit that is available forqualified purchase of a principal residence by a first time homebuyer betweenJanuary 1, 2009 and December 1, 2009. The credit does not require repayment.Individuals who purchase in 2009 using financing assistance from state andlocal mortgage bonds will be permitted to use the credit, as well. For moreinformation on the Tax Credit contact Carlos Salinas at Texas Homes & Loans.

Carlos Salinas
"Real Estate Magican"

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WHY TEXAS IS DIFFERENT

Why Texas Is Different

Strong,diverse economy:
Texas is strong in industries that are still growing(such as professional & business services, education & healthservices, government) and has the second largest economy in the nationby GDP according to the U.S. Bureau of Economic Analysis.

Steady job growth:
According to the U.S. Bureau of Labor and Statistics, Texasadded 153,700 jobs (1.5% increase in employment) from December 2007 toDecember 2008, while during the same time the national unemploymentrate rose 2.3%.

Top state torelocate:
According to Allied Van Lines’ 41st Annual Magnet StatesReport, Texas is the No. 1 destination state for residentialrelocations for the 4th year in a row. New data from the U.S. CensusBureau confirms that Texas gained more residents (484,000) between July2007 and July 2008 than any other state.

Courtesy of DfwRealtors & Carlos Salinas Real Estate Magician

Carlos Salinas
"Real Estate Magican"

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Four Rules Of Home Pricing

Certain things must behave in certain ways. We have witnessed things as observers over time that have just become “the way things are,” and real estate home sales have a few sets of these rules as well. Today we’ll discuss the Four Irrefutable Rules of Home Pricing that are evident in any type of market.

Four Irrefutable Rules Of Home Pricing

1. Sellers are the highest bidders on their own home - In any type of market, sellers have a tendency to ask too much for their property… until they get serious. When inventory stacks up, over-priced homes in the inventory end up confusing buyers, causing them to be even more cautious than normal. Typically, overpriced homes are shown very rarely and even if shown, no offer is presented. These Sellers think “Why won’t somebody make an offer” yet they don’t understand that their home does not compare well with other homes that are priced correctly and priced at the same amount as theirs.

2. Serious Sellers Price Their Home To Sell - Perhaps the greatest task of the real estate broker in helping the homeowner is determining the Seller’s motivation. Serious Sellers price their homes to sell. If a serious Seller is not priced correctly, they lower the price.

3. Homes “under contract” tell us little - I always like to take a little peak at how many homes are “Pending” (meaning “under contract”), yet I also know that very little can be drawn from any one contract in particular. The fallout ratio (homes under contract where the contract never closes) is roughly 50% for Realtors and nearly 90% with For Sale By Owners!!! So, just because a Seller down the street who was asking $400,000 for the home received a contract on the house does not mean that it will actually close, nor does it mean it sold for $400,000.

4. Homes that sold tell us where the market …. WAS - The average time it takes to get a home closed, after a contract is ratified, is 48 days. Considering that most Realtors and Appraisers look at comparable home sales (from the past 6 months) as their comparison to the subject property, most of this data is based upon a decision that was made somewhere between 2 months ago and 8 months ago. Think about it, if we look at a home sale from June, it probably went under contract in April, meaning 5 months ago. Is that really current information? Do you really think a buyer cares what was happening in the market in April when they go out to make a buying decision today? So all that “sold” data gives us is history.

Carlos Salinas
"Real Estate Magican"