Goodbye HUD-1, Hello Closing Statement!

So when I don't write about my kids or humorous stories, some of my readers complain!  So here is one for you: my 9 year old thinks he was born in the 70's and has a passion for disco lights and 70's or 80's music. He downloaded MC Hammer's "Can't touch this" on my iPhone, and said, "Hey mom, I have a song for you by MICK Hammer!" His mispronunciation made me smile.

So talking about mispronouncing things, can anyone say "Closing Statement as of August 1^st?" Do you know what that means? As of August 1 there will be NO Hud-1 Statement. The HUD 1 has been around for 40 years!

Come to one of our MCE classes on the subject. EVERY 1^st Thursday of the month until October I will have a 2 hour class on the topic. My goal is that by the Fall, every realtor I know attends one! I want you to be educated and know that our team at Legacy is being proactive and will embrace the change. We are determined to help you close more transactions by being in the know!

In the Markets

Optimism about Fed policy helped mortgage rates improve early in the week last week. Last Monday, Fed Vice Chair Stanley Fischer elaborated on the Fed's plans for monetary policy. To learn more about his report, READ MORE HERE.

                                                 ~ Jen 

Upcoming Monthly Events

Please contact Annette Ernstein to RSVP for any of our events

Email Annette Here!

Direct Phone: 713-579-3606  

           

 

Budget Seminar 

Learn How to Save 20% of Your Gross Income EVERY MONTH!
WHEN: Wednesday,  April 1st 

5:30-7:00pm

MCE Course : August 1st Disclosure Changes!

WHEN: Thursday, April 2nd 

9:00-11:00am

How to Double Your Leads ASAP! 

Presented by Dayton Schrader, The CORE Training
WHEN: Tuesday, April 7th
3:00-5:00pm

Home Insurance Pitfalls EVERY Realtor Needs to Know  
Presented by Drew Rogas/Goosehead Insurance
WHEN: Thursday, April 9th 

9:00-10:30am

 

Good Credit? Bad Credit? The Categories of Your Credit Score!

A big shout out to Jason Hauck on our team! He got married on Friday, and the team headed out early to caravan to Galveston for the wedding! Woo hoo Jason! Congratulations!

So last week we had a CREDIT EXPERT come and talk to our clients and realtors about how to have the best credit score! Here are some highlights!

• 80% of your score is from the last 2 years activity
• FIVE Categories of your score:
• 35% Payment History
• 30% Debt utilization (% used) - below 20% of your limit  is ideal!
• 15% Credit History
• 10% Mix of Credit
• 10%  Inquiries
• And....any mortgage co pulls in 45 days counts as ONE!

IN THE MARKETS:

The Fed meeting this week was positive for mortgage rates (we saw them come back down!). The Fed alluded that they want to see improvement in the labor market and consumer confidence before a rate hike. READ MORE HERE!

~ Jen 

Monthly Events

Please contact Annette Ernstein to RSVP for any of our events

Email Annette Here!

Direct Phone: 713-579-3606  

Margarita Monday,
now at NORTH Italia
on Post Oak
at a NEW TIME!
WHEN: Monday,

March 23rd 

4:30-6:00pm

Budget Seminar 

Learn How to Save 20% of Your Gross Income
EVERY MONTH!
WHEN: Wednesday, 
April 1st 

5:30-7:00pm

MCE Course 

August 1st Disclosure Changes!
WHEN: Thursday,

 April 2nd 

9:00-11:00am

How to Double Your Leads ASAP! 

Presented by
Dayton Schrader,
The CORE Training
WHEN: Tuesday,
April 7th
3:00-5:00pm

Home Insurance Pitfalls EVERY Realtor Needs
to Know  
Presented by Drew Rogas
/Goosehead Insurance  

WHEN: Thursday,

April 9th 

                                                                                      9:00-10:30am 

"Only use a lender that you can find and choke." - Words to live by

"Only use a lender that you can find and choke", said Avis Wukasch, Chairman of TREC.

I had the pleasure of hearing her present at the CRS luncheon last week, and she is so correct! Her presentation was on 7 Habits of Highly Dysfunctional Realtors. The audience, 50 realtors, were rolling in their seats, because we have all encountered some of those. All joking aside, Avis encouraged us to HELP our fellow realtors, guide them to the path of functionality, so that we can together keep Houston one of the top real estate markets in the nation!

Here are the 7 Habits of Highly Dysfunctional Realtors:

1.      Read nothing
2.      Read only up to the blanks in any given contract (not the fine print after)
3.      Advertise anything, don't know anything, don't understand anything, and don't care
1. She said advertising errors are RAMPANT
2.  A licensed realtor must have the brokers name on ALL advertisement, including social media
4. Work outside their area of expertise
5. Has no clue about Law of Agency
6. Doesn't bother to fill in the effective date of the contract (...fyi, this is the MOST left out         field on the contracts according to TREC)
7. Uses a bucket of gasoline instead of water to put out 'fires'

She encouraged us to pay it forward and help those in our reach (fellow colleagues, friends etc..) that may need help in one of these 7 areas. Mentor someone!

In the markets:

We are starting to see rates RISE. Its been slow and steady so far, but my experience tells me there is a storm brewing, as this next week is big anticipated news at the Fed Meeting . For more info, READ HERE!

Enjoy your week, and as always, we LOVE BEING YOUR LENDER!

 ~ Jen 

Five Household Fix-it's To Do Before Listing Your Property!

English  Spanish

Jennifer Hernandez Senior Loan Officer The Hernandez Team NMLS# 5144972500 CityWest Blvd., Suite 750 Houston, TX 77042 Office: 713-579-3600 Mobile: 713-446-7791 my website 5 THINGS TO FIX BEFORE LISTING YOUR PROPERTY A recent survey found that sellers boost their home's value more cost effectively with minor improvements than with big remodeling jobs. Here are five things that deliver the most value: 1. Improve the curb appeal. First impressions make a big difference in what a home is worth. Put a fresh coat of paint on the front door and potted flowers or small evergreens beside it. The roof is a big part of a home's appearance from the street. If it's dirty, have it cleaned by professionals. Touch up paint trim. Clear the front yard of toys, garden tools, and hoses. 2. De-clutter. Throw out old newspapers, magazines and files. Put away toys. Remove small pieces of furniture just taking up space. If your home looks clean and simple, buyers find it more attractive and overlook shortcomings. 3. Install the two things buyers want most in a kitchen. Can you guess? Granite countertops and stainless steel appliances! Blame it on the TV home shows. But if you don't have these items, the cost of installing them could be recovered in the sale. Check with your Realtor. 4. Update the small stuff. Put in new cabinet handles and door knobs, fresh lighting fixtures, make minor updates to kitchen and bathrooms. Look for outdated things that can be easily replaced. 5. Stage the place. Hire a professional or do it yourself. Use minimal furniture and neutral colors. Organize and de-clutter closets and cabinets. Rent a storage space for what you remove. When you're ready to take advantage of the opportunities in this year's housing market, please contact us for help with the financing. We're also happy to answer questions about refinancing your current home or funding home improvements. Just call or email us any time.... Have a great day! P.S.: Mortgage rates are still at historically attractive levels, but it's smart to start the process early. Please call or email us to explore the great options now available.

5 Reasons to Become a Homeowner in 2015

English  Spanish

Jennifer Hernandez Senior Loan Officer The Hernandez Team NMLS# 5144972500 CityWest Blvd., Suite 750 Houston, TX 77042 Office: 713-579-3600 Mobile: 713-446-7791 my website 5 reasons 2015 is a good year to buy or sell a home – PLUS 5 easy fix-ups for a higher sale price Housing market analysts are saying now is a good time to buy or sell a home. Here's why: 1. Mortgage rates still near historical lows. Remember, interest rates can be extremely volatile, so check with us for up-to-the-minute information. 2. Mortgage rates expected to rise by the end of year. Economists expect the Federal Reserve, the nation's central bank, to raise its Funds Rate this year. This may push mortgage rates up. Every 1% gain in mortgage rates reduces affordability by about 10%, so instead of a $200,000 house, you can only afford an $180,000 one. This hurts sellers too, as buyers drop out. No one knows for sure that these things will occur, but if you're on the fence about buying or selling, you may want to act this year. 3. Prices recovering, but at a slower rate. Home prices are rising, which is good because you don't want your home to be worth less in the future. Prices are going up more slowly than they did earlier in the recovery, so it doesn't pay for sellers to hold out for higher prices, especially if higher mortgage rates send buyers to the sidelines. 4. More choice. As home prices recover, more sellers put homes on the market. With the threat of higher mortgage rates, additional sellers are listing, so buyers have more homes to consider. 5. Improving economy. Economists point out that jobs are being created, wages are growing, consumer confidence is rising, and more households are forming, all good signs for home sales.

Put on Your Boots! It's Rodeo Time!

Happy Rodeo Kickoff Week, everyone!

So I'm not normally a cowgirl, but I did manage some fancy boots today, and some new jewelry, and am playing the part! As rodeo season is upon us we wish you safe travels, safe events and many good times at the many events to come!

Be sure to watch our Facebook and Twitter pages for helpful videos this week! There are nuggets there, and they are less than 1 minute each, so  come on! ALSO, see our upcoming learning events below!!! My mission is to educate you!

In the Markets:

Fed Reserve Chair Yellen's comments on Tuesday were favorable for mortgage rates. It alluded that the increase of the Fed Funds rate will be farther into the future. READ MORE HERE!

Enjoy the weekend, and as always, we LOVE BEING YOUR LENDER!

                                                 ~ Jen 

Upcoming Events:

Realtor-Exclusive Call from The CORE Training: 

Scripts to Sold-
Words Are Powerful
hosted by Haley Garcia
WHEN: Wednesday,

March 4th 

2:00-3:00pm

Tour the
Hernandez Team Office!
Your 45-Minute
Behind-the-Scenes Look at the Loan Process
WHEN: Thursday,

March 5th 

1:00-1:45pm

Breakfast And Learn: Appraisals! 
How to Produce Great Comps
presented by Alex Massa
WHEN: Thursday,

March 12th 

9:00-10:30am