Tickets Now Available for ABoR’s Installation and Awards Gala Join ABoR for its annual Installation and Awards Gala from 6 to 10 p.m. on Friday, Dec. 11, at the Renaissance Austin Hotel. Tickets for this year’s event, themed “Celebrating You,” are now available. Individual tickets cost $40 per person and can be purchased online or by phone. This year’s event will celebrate the real estate community and provide those in attendance with the opportunity to network with local professionals and ABoR leadership. The incoming Board of Directors, as well as 2010 Chairman of the Board, John Horton of John Horton Realty, and the 2009 Industry Award winners will be honored at the event. Individuals attending the event will also have the opportunity to participate in a balloon drop with the chance to take
home some cash. Additionally, there are a select number of sponsorship opportunities available for the event, ranging from $300 to $6,000. Sponsorships are a great opportunity for businesses to gain valuable exposure and shine the spotlight on themselves for the evening. To purchase tickets online, visit www.abor.com/events/installation.cfm or to purchase by phone, call 454-7636, ext. 1603. For more information regarding the event, tickets and sponsorships, contact Hessie Brawley in ABoR’s Education Department at hbrawley@abor.com or by phone at 454-7636, ext. 1603.
Upcoming Events: OCTOBER 16 NAHREP Real Estate Olympics Zilker Park - Noon to 6 p.m.
OCTOBER 20 “Strike Against Hunger” Bowling tournament Showplace Lanes - 1 to 5 p.m. OCTOBER 21 CRS Quarterly Chapter Meeting Westwood Country Club - 11:30 a.m. OCTOBER 22 HBA Installation & Awards Renaissance Austin Hotel - 6 p.m.
OCTOBER 23 WCAoR Fall Fashion Show & Dinner 123 E. Old Settlers Blvd - 7 p.m. OCTOBER 29 WCR Chapter Program Meeting ABoR Auditorium - 11a.m.
—Associates In— PROGRESS OCTOBER 2009 • VOL. 14 • ISSUE 6
Enjoyable. Entertaining. It’s all About You.
Try out these free tools for lead generation, marketing By Linda McNabb CONTRIBUTING WRITER
REALTORS who want to dramatically improve their productivity, reach thousands of potential clients and create professional looking advertising materials can do so easily – and rarely spend a penny. Those who attended the Williamson County Association of REALTORS’ Tech Tune Up recently are among those doing so by using some of the Top 20 Free Products that REALTOR Jack Stapleton of Austin Suburban Properties revealed during one of the event’s many useful seminars. The products appeared to be so valuable to a wide spectrum of real estate professionals that REALTY LINE decided to share a sampling with those who unable to attend, perhaps because they were too busy working the old-fashioned way – like stuffing brochure boxes, checking various e-mail and social media accounts by logging into each one, listening to voice mails with their phone or buying postage for flyers that someone else could be sending for them. So prepare for a new way of working, and you just might have time to squeeze in one more listing appointment. Here goes: LOWE’S REALTOR BENEFITS HTTPS://WWW.LOWESREALTORBENEFITS.COM Lowe’s Realtor Benefits sends out free discount cards branded with your picture and information. “My clients love it and it is a great way to do a touch and get my name out,
give something for “free” and strike up a conversation to ask for a referral,” says David Burton of Austin Suburban Properties. “Simply upload your photo and enter all of your past clients. Lowes will pay for the postage, they pay for the card, they pay for everything.”
FREE TWITTER REAL ESTATE “HOW TO” EBOOK WWW.MYTECHOPINION.COM/TWITTER-FOR-REAL-ESTATE Wondering how to use all the social media you have been hearing about? Log on here to receive a free book on how to use twitter in Real Estate. DEMAND SPOT – FARM TWITTER FREE WWW.DEMANDSPOT.COM/ This is a free lead generation service to search for people who are looking for real estate on twitter. Stapleton says a recent search for such people in the 78664 zip code brought up 2,000 results. JOTT – FREE BLACKBERRY TRIAL APP HTTP://JOTT.COM/JOTT/JOTT-FOR-BLACKBERRY.HTML Beverly Henson of Sky Realty says she uses Jott for BlackBerry, which lets you reply to e-mails with your voice, eliminating the need for time-consuming and thumb-tiring typing.
POSTLETS: FREE LISTING SYNDICATION WWW.POSTLETS.COM/HOME.PHP Create your listing or open house and syndicate it to Craigslist, Facebook, FrontDoor, Google Base, HotPads, Presorted Standard Myspace, Oodle, Trulia, Twitter, Vast, U.S. Postage Zillow, and more. “I can’t express enough PAID Austin, Texas what a profound difference the site has Paid Permit #715 made in my marketing,” says Christy Gessler, of RE/MAX Capital City. “The P.O. Box 81366 best part about this site is the fact that so Austin, Texas 78708-1366 many of the hot websites for real estate information are included and you can hit them all at once (and update your listings all at once should you need to for a price reduction or new photos, for example). It is vital in our changing real estate market to reach the public where THEY are searching for properties.” Don’t forget: You can visit us online 24/7 at www.realtylineonline.com Nicole Boynton of Austin Suburban
Properties also testifies to its success. “I used it to post a lease listing at 4:30 one day and had it leased by 5:02,” she says.
YOU MAIL WWW.YOUMAIL.COM/HOME/INDEX.DO See voicemail on your phone, browser or e-mail, block unwanted voicemail and impress callers by greeting them by name. “I have used several of these tools but my newest favorite is this one,” says Barbara Wigginton, Williamson County Association of REALTORS president. “It’s a free visual voicemail with individualized greetings and voicemail to email— really cool and very powerful. It saves me lots of time.” 4 INFO WWW.4INFO.NET This service lets you create text messages with listing details, so a drive-by buyer can get listing details instantly. “It isn't that difficult to set up, and you can throw away that brochure box for something better,” Stapleton says. TEXAS A&M AUSTIN AND ROUND ROCK MARKETING REPORT HTTP://RECENTER.TAMU.EDU/MREPORTS/AUSTINRROCK.PDF The Real Estate Center publishes market news which is updated continuously throughout the year. Reba Saxon of Keller Williams Realty says this is the perfect document to give to outof-state buyers. XPENSER FOR EASY ACCOUNTING WWW.XPENSER.COM “Now, if you're super analytical, and you want huge detail in your accounting records, then stick with QuickBooks or Peachtree,” Stapleton says. “However, if you're into simplicity, and spending as little time as possible in getting expenses and income into an online and free solution, then Xpenser is worth a look. Entry is fast and easy, even using your cell phone.” YOUTUBE – VIDEO MARKETING WWW.YOUTUBE.COM As a real estate professional listing properties, you cannot afford to overlook the marketing exposure you can get with a video of your listing on YouTube. Boynton says she uses voiceovers on the virtual tours she posts to add a personal touch.
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Realty Line of Austin
October 2009
A PUBLICATION OF © CAXTON PUBLICATIONS, INC.
Patten Law Firm’s Tiffany Stillwell introduces a panel of top producers who answered questions from an eager audience during the latest Spotlight Austin at Westwood Country Club.
Realty Line of Austin is published monthly by ©Caxton Publications, Inc., as a non-subscription publication for the more than 8,000 members of the Austin Board of REALTORS (ABoR), the more than 1,100 members of the Williamson County Association of REALTORS (WCAoR) and the Home Builders Association (HBA) of Greater Austin. © Caxton Publications, Inc. dba Realty Line of Austin is an active member of the Austin Board of REALTORS, the Williamson County Association of REALTORS and is a honorary member of the Women’s Council of REALTORS. Caxton Publications, Inc. dba Realty Line of Austin is not responsible for opinions or facts expressed by non-staff writers or for errors and any by-products in advertising or editorial copy. REALTOR® is a registered trademark. The word REALTOR® sometimes appears in this publication without the registered trademark symbol (®), for the purpose of saving space. Wherever the word REALTOR appears in this publication, the registered trademark should be assumed.
U.S. Rep Lloyd Doggett, center, thanks ABoR chairman Jay Gohil, Susan Horton, David Burton and Bill Stanberry for the TREPAC donation at the organization’s fundraiser at Uncorked downtown.
Doren L. Carver PUBLISHER Tawanna K. Carver MANAGING EDITOR
Linda McNabb CONTRIBUTING EDITOR/WRITER/PHOTOGRAPHER
COLUMNISTS Jay Gohil - ABoR Chairman Wes Peoples - HBA President Barbara Wigginton - WCAoR President Latra Szal - Gracy Title
All photos, press releases or article submissions can be sent to realtyline@austin.rr.com
P. O. Box 81366, Austin, Texas 78708 Office: (512) 821-1900 www.realtylineonline.com
October 2009
ABoR CHAIRMAN’S COLUMN
Tickets Now Available for 2010 Housing Forecast By Jay Gohil • Jay Gohil Realty
2009 Chairman • Austin Board of REALTORS
The time has come to get your ticket for the 2010 Housing Forecast. The event, scheduled from 8 to 11 a.m. on Jan. 13, 2010, at the AT&T Executive Education and Conference Center in Austin, will feature a comprehensive analysis of the 2009 local economy and set the industry expectations for 2010. This is a “must attend” event for real estate professionals aiming to effectively plan their business strategy for the upcoming year. Eldon Rude, the director of the Austin Market for MetroStudy, Pike Powers of Fulbright & Jaworski, L.L.P. and Jon Hockenyos, the President of Texas Perspectives, are among the speakers that will be featured at the event. Rude will deliver the Austin Housing Market Forecast, as well as moderate the program. Powers will discuss economic development and Hockenyos will present the National Economy Forecast. The Austin Board of REALTORS® (ABoR) has partnered with the Home Builders Association (HBA) of Greater Austin for this event. Tickets are available in limited quantity and must be purchased in advance. Individual tickets cost $60 each and can be purchased today by phone at 454-7636, online at www.abor.com/events/HousingForecast.cfm or in person at the ABoR offices located at 10900 Stonelake Blvd. Suite 100, Austin, Texas 78759. Sponsorship opportunities are also available for the event. For more information regarding the event, tickets and sponsorships, contact Hessie Brawley at 454-7636, ext. 1603. Water Treatment Plant 4 Needed to Sustain Quality of Life There are many issues currently facing the local Austin community. Among the issues at the forefront is the construction of Water Treatment Plant 4 (WTP4). The Austin City Council will consider and vote on several measures impacting WTP4
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between now and April 2010. The construction of WTP4 is critical for the local community because Austin Water Utility estimates that the city’s water needs will outpace the current capacity within the next seven years. Therefore, WTP4 would need to be in operation by 2016 to address Austin’s growing water needs, even with water conservation efforts and the use of reclaimed water. The construction of WTP4, even with greater conservation efforts, is needed to sustain our quality of life. WTP4 would bring a host of benefits to the local community. To start with, WTP4 would allow for Austin’s two aging treatment plants to be serviced and will ensure a redundant system. It would also draw water from Lake Travis, which is considered to be a cleaner source because of its higher water quality. The new treatment plant will be a state-of-theart facility which reduces emissions, provides adequate pressure to homes and saves electricity due to the higher elevation of its location. ABoR will continually monitor this issue as it progresses.
Join the Celebration at ABoR’s Upcoming Awards Gala Sponsorships and tickets are now available for ABoR’s annual Installation and Awards Gala. Don’t miss your opportunity to take part in this year’s event scheduled for 6 to 10 p.m. on Dec. 11, at the Renaissance Austin Hotel. This year’s festivities are themed “Celebrating You” and will recognize the local real estate community, honor ABoR’s incoming Board of Directors and spotlight the 2009 Industry Award winners. With a variety of sponsorships available, this event is the perfect venue for advertising your business. Sponsorship packages range from $300 to $6,000. Events tickets are also available. Individual tickets cost $40 and can be purchased online at www.abor.com/events/installation.cfm or by phone at 454-7636, ext. 1603. The fun-filled evening will be a great opportunity to network with members of the local real estate community and ABoR leadership. Event attendees will also have the opportunity to participate in a balloon drop with the chance to take home some cash. For more information on the available sponsorships and to purchase tickets, contact Hessie Brawley at hbrawley@abor.com or 454-7636, ext 1603.
Outstanding
Laurie L aurie N Nunnallee unnallee
in Their Field
Melinda M elinda C Carroll arroll
NORTHWEST N ORTHWEST H HILLS I L L S BRANCH BRANCH | 5 512.422.3721 12.422.3721
LAKEWAY L A K E W AY B BRANCH R A N C H | 512.638.6611 512.638.6611
Fran F ran P Pullin ullin WESTLAKE W ESTLAKE B BRANCH RANCH | 5 512.695.8634 12.695.8634
Dewayne D ewayne N Naumann aumann WESTLAKE W ESTLAKE C COMMERCIAL OMMERCIAL B BRANCH RANCH | 5 512.627.0877 12.627.0877
Choosing the right pumpkin is in many ways a personal preference. prefer pr eference. Choosing the right title company to meet your professional professional and personal considerations is also your choice. Title companies, like pumpkins, have their own defining qualities that make them more more desirable than others.
Judy J udy M Mills ills WIMBERLEY W IMBERLEY B BRANCH RANCH | 5 512.842.2228 12.842.2228
You Y ou S Select, elect, W We eP Protect. rotect.
Kathy K athy K Kelly elly LENDER L ENDER B BUSINESS USINESS D DEVELOPMENT E V E L O P M E N T | 512.213.7098 512.213.7098
www.FirstAmAustin.com www .First A m A ustin.com
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October 2009
Tracy Gold of Drees Custom Homes learns about the Time Warner Partner Program from cable representatives Danette Tidwell and Stephanie Johnson at a REALTOR luncheon at Walsh Ranch.
NAHREP president Ron Urias helps support the organization’s scholarship foundation by being the winning bidder on several items at the silent auction during a recent happy hour.
Caroline Carver, daughter of Realty Line owners Doren and Tawanna Carver, ties for first place in the hula-hoop contest at the WCR sock hop.
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The KB Kronicle OCTOBER
6,
2009
KBHOME.COM
512-651-8059
KB Home Ɔ’s REALTORS! KB Home would like to recongize the following REALTORS for their outstanding partnership. Thank you!
Marty Kelly
Sandra Alvarez
ZIP Realty
Coldwell Banker
Shelly Hall
Ernie Hatton
Victor Niño
Cesar Gonzalez
Loren Trux
Home City Realty
Remax About Austin
John Horton Realty
Casa Grande Realty
TCB Realty
Rosangely Hernandez Keller Williams
Spotlight Community of the Month Circle C in Austin
Circle C - Fairway Estates • From the $450’s • 3,015~5,368 sq. ft. • 2 model homes • 12 floor plans • 3~5 bedrooms • 2~3.5 baths • Last golf course lots in Circle C • Gated community
(512)432-0103
Circle C - The Enclave • From the $280’s • 2,226~3,332 sq. ft. • 2 model homes • 12 floor plans • 3~5 bedrooms • 2~3.5 baths • Gated community • Large, tree covered homesites
(512) 432-0107
Need a sponsor for an upcoming meeting or event? Need a space to hold your next meeting, class, or event? KB Home is always looking for opportunities to work together with our local Realtor partners. Please contact Colette Fitzgerald, KB Home Broker/Realtor Liaison at cfitzgerald@kbhome.com, 512-651-8059, for more information!
To Visit Circle C - Fairway Estates, The Enclave and Enclave Estates: From Loop 1 (Mopac) in South Austin, exit Slaughter Ln. and head west. Turn left on Escarpment, right on La Crosse and right on Spruce Canyon into community.
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October 2009 continued from front page:
Mark Hairston and Janis Arteaga, both of Mortgage IQ, begin the MCE course on credit scoring with a full house at Cover 3.
GMAIL – (BYE BYE YAHOO) WWW.GMAIL.COM Gmail is the most-utilized online application. Not only can you have a personal Gmail address, but you also have multiple business addresses for different purposes. It is accessible from any Internet computer, fast, a huge storage facility, and you can find old e-mails with ease. PB WIKI – COLLABORATION HTTP://PBWIKI.COM This file-sharing program lets you send e-mail notifications to everyone in your group and invite others to collaborate on a project. “This is my favorite one,” Stapleton says. “It helps you keep clients and vendors in the loop. You can share transaction documents, videos, and other property information with team members, clients, and vendors and it is all in one place.” FREE PHOTOSHOP TRAINING WWW.TUTORIAL9.NET/SCHOOL-OF-PHOTOSHOP Ready to take that big leap into the world of Photoshop? It may seem really intimidating at first, but with the help of these structured lessons, you'll be a master of Photoshop in no time. GNU IMAGE MANIPULATION PROGRAM WWW.GIMP.ORG Don’t have Photoshop but still need to enhance those listing photos? Get rid of that unsightly trash can or the toys in the driveway with this free image editing software that also offers tutorials on basics such as creating a logo and even animation.
Susanna Boyer, president-elect of the Women’s Council of REALTORS welcomes Rudi Rosengarten of Pacesetter Homes to the organization’s monthly luncheon at the ABoR auditorium.
GETDROPBOX WWW.GETDROPBOX.COM Back up your important documents and e-mail messages. This tool syncs with your computer to save documents and allows you to access them via the Web from any computer. STREAMY SOCIAL NETWORKING AND BLOGGING AGGREGATOR WITH RSS FEED WWW.STREAMY.COM Streamy combines Twitter, Facebook, Digg, Flickr, FriendFeed, AIM, Google Talk, Yahoo, Live and more. This aggregator puts each service on a separate tab and combines everything into one very easy to use interface. OPENOFFICE WWW.OPENOFFICE.ORG Need a suite of office tools but don’t want to pay for the latest Microsoft version? Consider OpenOffice.org. This free suite lets you create files compatible with Word, Excel, Access, or PowerPoint along with PDF files.
October 2009
HBA PRESIDENT’S COLUMN
It’s Not Too Late to Take Advantage of the First-time Home Buyers Tax Credit By Wes Peoples • WP Investments
2008-2009 President • Home Builders Association of Greater Austin
Time is running out on the $8,000 first-time home buyer tax credit, but eligible home buyers can still get the credit if they act quickly. As a REALTOR®, you probably already know that the home purchase has to be completed on or before Nov. 30, 2009 in order to be eligible for the credit, so the timing is extremely tight. But there is still time for a qualified buyer to get a home under contract and close on it before the deadline. You can view a handy list of communities that have homes that can qualify for the credit on the HBA’s website at www.AustinHomeBuilders.com. Remind your buyers that the government is currently providing a federal tax credit of 10 percent of the purchase price of a home, up to a maximum credit of $8,000, to qualified buyers who purchase between January 1 and November 30, 2009. The purchaser must not have owned a principal residence within the past three years, and must have a modified adjusted gross income of $95,000 or less ($170,000 for married couples) to qualify. Encourage your clients who may be sitting on the fence to get pre-qualified for a loan now while they are shopping. This will save precious time once they are ready to make an offer on a home. It is expected that sales over the next two months will take longer than normal, as more buyers scramble to complete sales in time to be eligible. Given the time it takes to negotiate the terms of the sale with the seller, have the home inspection and appraisal completed, schedule a settlement, and process other required documentation, buyers should plan to have a home under contract no later than five or six weeks before the November 30 deadline. Another important timing consideration is the Thanksgiving holiday that falls just before the deadline. It will be difficult, if not impossible, to schedule a closing
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the day before or the three days following the holiday on November 26. The credit has had a positive effect on home sales. On a national level, sales have increased for the past four months, which has been largely attributed to first-time buyers eager to take advantage of the credit. The National Association of Home Builders expects more than 1.5 million home buyers to claim the credit over the life of the program. But if this forward momentum in housing sales stops, it could hurt the nation’s economic recovery. NAHB and other groups in the housing industry are urging Congress to extend the tax credit, to help push the economy out of the recession. It is estimated that extending the credit for another year would spur 383,000 more home sales and create nearly 350,000 jobs nationwide. Visit www.revivehousingnow.com to find out how you can let your members of Congress know you support reviving housing and restoring America. For more information about qualifying for the tax credit, and other resources to help you understand the process of financing and buying a home, visit www.federalhousingtaxcredit.com. For a list of communities in the greater Austin area with homes that qualify for the credit visit www.AustinHomeBuilders.com.
The hula hoop contest was a big hit at the WCR sock hop, which brought REALTORS and builders together. Caroline Carver, in stripes, and Tavia Hrabovsky of Buffington Signature Homes, in green, tied for first place.
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October 2009
Jim Sikes of Viewpoint Bankers Mortgage discusses investments with Mike Carroll of MGIC, Kristin Carroll of Sente Mortgage and Mike Cannatti of Network Funding at the Roaring Fork where AMP held a recent happy hour.
Lisa Mazzarella, Tavia Hrabovsky and Laura Cates, all of Buffington Signature Homes, invite REALTORS to share some treats at their table during the WCR sock hop.
Janis Arteaga of Mortgage IQ shows Marge Lemons of Kara Kay & Company and Maria Martinez of Citywide Realty to their seats at the Insiders Guide to Credit Scoring and Restoration at Cover 3.
October 2009
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Mary Tennant, center, of Keller Williams Realty, congratulates Bill Bradshaw and Suzanne Jacobs, both of Gracy Title, for their years of service at the company’s anniversary celebration at County Line on the Hill.
Jenny Newman of Austin Title and Mary Miner of M.E. “Gene” Johnson REALTORS sell mulligans to golfers as they register for the Women’s Council of REALTORS golf tournament at Star Ranch.
Diane Kennedy of Coldwell Banker United REALTORS arrives with her husband Scott Kennedy to enjoy some wine at ABoR’s TREPAC fundraiser at Uncorked in downtown Austin.
MetLife Home Loans
is a lender you can
RELY ON At MetLife Home Loans, we believe in serving you and your clients equally. We can provide your homebuyers with financing and services that will help you close more loans, build loyalty, and offer:
> A variety of financing options for first-time homebuyers and seasoned homeowners > The ability to apply for financing online 24/7 > Customer service that keeps the loan process simple and streamlined, for faster closings > A dedication to core values of truth, sincerity and integrity For more information, contact:
Bob O’Reilly Area Director MetLife Home Loans Phone: 512-329-3527 Cell: 713-294-4236 ROReilly@metlife.com ®
For business and professional use only. Not for consumer distribution. All loans subject to approval. Certain conditions and fees apply. Mortgage financing provided by MetLife Home Loans, a division of MetLife Bank, N.A. Equal Housing Lender. © 2009 METLIFE, INC. L0509039372[exp0510][All States][DC] © UFS
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A crowd of eager listeners gathers at Patten Law Firm’s Spotlight Austin to hear five of Austin’s top producers share what keeps them thriving in today’s market.
A n d r e w Constancio, Katlin Whitle and Tony Ewing, all with JB Goodwin REALTORS, kick back on a tailgate at Cheeseburgers in Paradise. WCAoR hosted the family friendly outdoor event that benefited TREPAC.
Cindy Walsh hands drink tickets to Leonard Guerrero of JB Goodwin REALTORS as he arrives at the organization’s TREPAC wine tasting event at Uncorked.
Realty Line of Austin
October 2009
WCAoR PRESIDENT’S COLUMN
Great Reasons “Why” to Become a Member at WCAoR? By Barbara Wigginton • Realty Executives
2009 President • Williamson County Association of REALTORS
Ever wonder why you should become a member of the Williamson County Association of REALTORS? Below I have listed five “why” reasons you should consider. 1. By joining WCAoR, you are also joining the Texas Association of REALTORS® and the National Association of REALTORS®. NAR is the world’s largest professional association. 2. WCAoR serves the diverse interests of real estate professionals by - Helping you keep what you earn; - Helping improve your professionalism; - Promoting your reputation and interests; and - Keeping the REALTOR® central to the real estate transaction. 3. Influencing legislation that affects YOU. Your voice is heard at all levels of government. Locally we protect the real estate industry from cumbersome legislation and undue regulation, and advocate regulatory change to enhance your ability to conduct business and protect homeowner rights. 4. Networking with your peers to exchange ideas and approaches to real estate challenges. WCAoR also offers opportunities for education and leadership. Well informed REALTORS® are better equipped in their business. 5. WCAoR staff provides REALTORS a “one stop” resource for information. Having a local association gives members personal contact for information, training and support. WCAoR leadership looks to the future of our industry and helps keep the REALTOR® on the leading edge of technology. Our facilities are available for rental to association members and the public. To become a member of our Association, call 255-6211.
Don’t forget to Vote on November 3 Important appraisal reform measures are on the ballot. It is vital that Texas REALTORS® get to the polls on November 3 to support Propositions 2, 3 and 5. Below is important information on Propositions 2, 3 and 5: Amendment No. 2: The constitutional amendment authorizing the legislature to provide for the ad valorem taxation of a residence homestead solely on the basis of the property's
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value as a residence homestead. Summary: Requires taxation to be equal and uniform and provides that all real and tangible personal property in the state, unless exempt as constitutionally required or permitted, is to be taxed in proportion to its value. The proposed amendment would authorize the legislature, by general law, to provide for the taxation of a residence homestead solely on the basis of its value as a residence homestead, regardless of whether residential use by the owner is considered to be the highest and best use of the property. Amendment No. 3: The constitutional amendment providing for uniform standards and procedures for the appraisal of property for ad valorem tax purposes. Summary: Requires that administrative and judicial enforcement of uniform standards and procedures for the appraisal of property for property tax purposes, as prescribed by general law, originate in the county where the tax is imposed. An exception is that the legislature may provide for political subdivisions with boundaries extending outside the county. The proposed amendment would remove that requirement, as well as the exception. It would instead give the legislature full discretion to prescribe the manner of the enforcement of uniform appraisal standards and procedures. Amendment No. 5: The constitutional amendment authorizing the legislature to authorize a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations. Summary: Requires the legislature to provide for a single appraisal within each county of all property subject to property taxation by the various taxing units located in that county. That subsection permits the legislature to authorize appraisals outside a county when political subdivisions are situated in more than one county or when two or more counties elect to consolidate appraisal services. Section 18(c), Article VIII, requires the legislature to provide for a single board of equalization for each appraisal entity consisting of qualified residents of the territory appraised by the appraisal entity. The proposed amendment would allow the legislature by general law to authorize a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations. Fall Fashion Show and Dinner Join WCAoR at 7 p.m. on Friday, Oct. 23, at WCAoR office for our Fall Fashion Show and Dinner. Tickets are on sale now! Cost is $100 and includes wine, dinner for two from Saltgrass Steakhouse and a chance to win $2,500 and other great items. Fashions provided by Stein Mart. For tickets or more information, contact Susan Brown at 844-5553 or by e-mail at Susan@RealtyExecutives.com.
It’s a new market and this isn’t your grannies mortgage. At United Lending, we’re rockin’ out with over 25 years in the mortgage industry. We close and fund over 95 percent of our loans through our warehouse, so pricing is great and service is toe tapping. 8303 Mopac, Suite A-201 - Austin, Texas Texas 78759 512.592.5400 - unitedlendingusa.com
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October 2009
Kindra Zepeda, Bonnie Barrera and Gracie Ruiz, all of Independence Title, join Susie Martinez of Overland Mortgage at the NAHREP happy hour at Baby A's.
ABoR chairman Jay Gohil welcomes AYREP president Sumina Bhatti to the organization’s wine tasting party that helped raise funds for TREPAC.
David Pavliska of RE/MAX Round Rock and Mike Luscier of John Horton Realty flip burgers at the Rabb House in Round Rock, where the Williamson County Association of REALTORS held Cheeseburgers in Paradise, a TREPAC event.
The number one real estate radio show in town is now on the number one radio station in town Tune in Saturdays at noon. 590 KLBJ AM Saturdays at Noon David McMillan - United Lending 512.592.5444 direct 512.917.8658 cell TheMcMillanTeam.com
Presented by:
Call in number 512.836.0590
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October 2009
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RULE #1 IN REAL ESTATE: • From the $160s • 1,373-2,515 Sq. Ft. • 5 minutes from IH-35 • Community pool, hike & bike trail • New Elementary school • Minutes from downtown, toll roads and major highways • Close to Dell & Samsung Sales Consultant: Joseph Cho • 850-9294 jkcho@drhorton.com
North on IH-35, exit Parmer Ln., right on Parmer Ln. Right on Dessau. Left at the next stop light onto E. Braker/Shropshire. First left on Musket Valley, left on Day Camp Lane.
• From the $190s • Great location, easy access • 1,826-2,564 Sq. Ft. • Community pool • Park area, hike and bike trails • Close to schools • Minutes from shopping and dining Sales Consultant: James Castillo • 251-4682 jcastillo@drhorton.com
Take Toll Road 45 east, exit Heatherwilde Blvd. Continue straight through the stoplight. Make a right into the community on Huntington Tower Castle Blvd. Left on Abbeyglen Castle Drive.
• From the $190s • Golf course community • 1,758- 2,515 Sq. Ft. • Located in Round Rock • Community pool and playground • Great location with easy access to Toll Roads Take Toll Road 45. Exit Heatherwilde Blvd. North. Right on Gattis School Rd. Left on Links Ln. Left on Lee Trevino Cove.
Sales Consultant: Buddy Davis • 388-5966 jhdavis@drhorton.com
AUSTIN’S #1 BUILDER! www.drhorton.com/austin
Prices, plans, features, options and co-broke are subject to change without notice. Additional restrictions may apply. Square footages are approximate. 10/01/09
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Realty Line of Austin
October 2009
Mark Hairston of Mortgage IQ is pleased to see an eager crowd at the credit scoring and restoration workshop his company conducted at Cover 3 restaurant on Anderson Lane.
Shanna Schneider of Wilshire Homes takes a moment at the WCR meeting to tell Mary Miner of M.E. "Gene" Johnson REALTORS and Chad Goldwasser of Goldwasser Real Estate about the company's latest neighborhoods.
Khian Chissell Martin of K. Chissell REALTORS enjoys some treats at Westwood Country Club, where Patten Law Firm invited five of the area’s top producers to share their secrets at Spotlight Austin.
October 2009
Realty Line of Austin
ASSOCIATES IN PROGRESS
By Linda McNabb
CONTRIBUTING WRITER There’s a new player in the real estate game. And it’s a player that’s destined to challenge and change the traditional conventions of real estate. Private Label Realty, an Austinbased real estate brokerage, is implementing its innovative and highly successful business model across the Austin area. What is unique about Private Label Realty is that REALTORS are encouraged to brand themselves, receive 100 percent commission less a small transaction fee, and receive stock options in a highly diversified real estate company. In a little over a year they have affiliated with some of the top brokers in town including Austin Board of REALTORS Chairman-Elect John Horton of John Horton REALTORS, John Teinert of Austin Fine Properties and Pat Tate of Tate Properties just to name a few. Private Label Realty has also attracted some of the best known agents in Austin including Blake Outlaw, former ABoR chairman Socar Chatmon-Thomas, Gina Warrington and MAX AWARD winners Trey and Lucy Sheffield. Private Label Realty currently has over 150 agents and broker-affiliates and is growing every month. “We intend to redefine the legacy of real estate,” says Frank Perdichizzi, (pronounced Peardee-Keet-see), Private Label’s Broker. “This industry started off with a broker-centric model, where brokers provided services in return for financial splits. Then in the 80’s, it turned into an agent-centric model. Today, we still focus on the agent and provide them with great support and 100 percent commission (less a small transaction fee), but we are really more consumer-centric.” And just what does a consumer-centric model look like? According to Perdichizzi, it is offering the real estate consumer the highest quality of service in all areas of the real estate transaction. Private Label Realty is just one arm in a highly diversified real estate holding company that also owns a title company, mortgage bank, insurance agency, and part of a home warranty service company. Consumers are offered “one-stop shopping” during the process of both buying and selling a home. Though REALTORS and builders have long offered affiliated business arrangements, Perdichizzi maintains that many have not really focused on providing the consumer a great experience. “What sets us apart from other brokerages,” he states, “is that our parent company actually owns all of the affiliated businesses. Each of these companies is focused on ensuring that the agent and the client have a phenomenal experience. We believe that is essential to building a successful referral business. It is core to who we are, and in our after-transaction surveys, we are
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benefiting from a 98 percent approval rating from our clients.” Much of Private Label’s client satisfaction is a direct result of the parent company’s business model. “Even independent survey results, such as the Harris Poll, show that clients actually prefer one stop shopping,” he says. Though clients may still choose any vendor to handle their various real estate needs, Perdichizzi says offering one-stop shopping makes it that much easier. The client has a relationship with one person who is part of a bigger team that has a common goal and can respond quickly. “Each of our affiliated companies offer service guarantees to our customers,” Perdichizzi says. They are Frank Perdichizzi as dedicated to the client and providing a great expeBroker rience as much, if not more, that we are.” In addition to the great service, many clients actually end up saving money. If they choose to use one or more of the affiliated companies, the client may be eligible to receive a free appraisal up to $500, save 50 percent off escrow fees and save as much as 30 to 50 percent off on home and auto insurance. According to Perdichizzi, this bundled approach to real estate benefits not only the consumer, but the agent as well. “We are not looking to make a big profit in our brokerage. That is why we can offer the compensation plan that we do. Our goal is to put as much of the commission earned in the REALTOR’S pocket. We only collect a small fee that covers E&O Insurance and administrative costs. Most brokerages need the agent splits to survive.” One REALTOR who recently joined the team showed that she paid her former broker $24,000 ($18,000 cap and other fees) in financial splits for 10 deals last year. Had this REALTOR been part of the Private Label Realty team during that same time period, she would have paid only $2,950 for the same transactions, and netted an additional $21,050 in income. Another unique benefit of Private Label Realty is that all employees, agents, and brokeraffiliates are all eligible to participate in the parent company’s stock option program. “We feel strongly that our agents and employees should have the opportunity to share in our long term success,” states Perdichizzi. “Many agents do not have retirement accounts. With our commission plan, we pay our agents more commissions today, and we are working together to build value long term with our Stock Option program.” In short, Perdichizzi is intent on changing an industry. “Our goal is to serve the client and the agent at their highest point of need, while at the same time creating value in both their lives,” Perdichizzi says. “After spending time with Private Label Realty, I believe they will do just that.”
Register Today... All 3-hour MCE courses are FREE!
Earn 3 MCE credits at one of our upcoming valuable seminars. RSVP Bonny@TexasMortgageIQ.com REGISTER EARLY - LIMITED SEATING
Course
Date
Time
Location
Insiders Guide to Credit Scoring/Restoration
THUR 10/22
2pm-5pm
Cover 3 2700 W Anderson Lane #202 www.cover-3.com
Course #03-00-011-7715 Zero Down Around A Town Course #03-00-090-7417 Mortgages 2009… Back to the Future
Instructor
Course #03-00-090-7486
Certified Mortgage Planner Provider #0606
Insiders Guide to Credit Scoring/Restoration
Mark Hairston Direct 789-6967
Mark@TexasMortgageIQ.com
WED 10/28
THUR 10/29
THUR 11/5
Course #03-00-011-7715 FHA is the Way Insiders guide to FHA Course #03-00-070-7190
THUR 11/12
Happy Hour to follow 9am-12pm FREE LUNCH 10am-2pm FREE LUNCH INCLUDED
2pm-5pm Happy Hour to follow 1pm-4pm
Austin Title 1515 Capital of Texas Hwy. South, Suite 500 Standard Pacific Homes Parkside at Mayfield Ranch 201 Atlanta Park Drive Georgetown, Tx Cover 3 2700 W Anderson Lane #202 www.cover-3.com
Stay after for HAPPY HOUR! FREE Lunch FREE LUNCH
Stay after for HAPPY HOUR!
Austin Title 101 E. Old Settlers Blvd. Round Rock, Tx
“I would give your credit scoring class a 10! I think this course is a MUST!” — Vickie Boozer, CRS, GRI, ABR, e-Pro, REALM Professionals
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Realty Line of Austin
July 2009
Debbie Ates of Wilshire Homes serves a hotdog to Susanna Boyer of Sellstate Classic Realty, with husband Roland Boyer, at the Women’s Council of REALTORS sock hop, which brought REALTORS and builders together in a fun setting.
Sharon Rosshirt and Bill Stanberry, both of Stanberry & Associates, share some family time at ABoR’s 2009 TREPAC Wine Tasting event at Uncorked.
Tony Droubi of Drees Custom Homes gives Lauren Powell of Capital City Sotheby's International Realty a preview of the inventory during the REALTOR luncheon at Walsh Ranch.
Realty Line of Austin
October 2009
www.realtylineonline.com
Take Your Business Out Of The Box Private Label Realty™ (PLR) is an Austin-based real estate brokerage dedicated to client service and satisfaction. If you desire more than what’s offered with the traditional broker then we invite you to learn more.
PRIVATE L A B E L R E A LT Y
®
The New Definition of Brokerage
• • • • •
Keep 100% of your Commission
Less a $295 transaction fee (includes E&O / Admin)
Full Broker Support Build and leverage your brand and team the way you want. Integrated, one-stop shopping provides a superior customer experience. Unique ownership opportunity - producing agents earn stock options in a diversified real estate holding company.
For an appointment to discuss our qualifications and benefits, please call 512.306.0011 7719 Wood Hollow Drive • Suite 102 • Austin, TX • 78731
PRIVATE L A B E L R E A LT Y
®
© 2009 Private Label Realty ™, All Rights Reserved
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Realty Line of Austin
October 2009
Barb Cooper, Socar ChatmonThomas and Sheri Brummett introduce themselves to Stephanie Powell of Champions School of Real Estate at the ABoR wine tasting event held downtown at U n c o r k e d . Champions was a sponsor of the event.
Patricia Wagner of DHI Mortgage enjoys a soda, 50s style, with daughter Marisa, at the sock hop that the Women’s Council of REALTORS sponsored to bring REALTORS and builders together for a fun evening.
ABoR’s Emily Chenevert passes out drink tickets at the 2009 TREPAC Wine Tasting event at Uncorked downtown.
Begin your Path to Distinction in Commercial Real Estate Become a Certified Commercial Investment Member!
“Introduction to Commercial Investment Real Estate Analysis”
Enhance your knowledge! This introductory course provides an overview of every aspect of commercial real estate—from property inspection through followthrough after the property is sold. You will be introduced to the many ways to profit in the multi-faceted, dynamic field of commercial investment real estate. Course #12-00-128-5508 Provider #099 12 hours of MCE $325 for ABoR Members
November 18-19, 2009 8:30 a.m. to 5:30 p.m. Located at Quarry Oaks (Same building as Austin Board of REALTORS) Visit CCIM Central Texas Chapter for more info! www.ccimtexas.com or call 512-828-7455
October 2009
Realty Line of Austin
www.realtylineonline.com
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Realty Line of Austin
October 2009
Donna Yoste and Cindy Walsh help pass out materials on the wines that will be tasted at the TREPAC fundraiser that the Austin Board of REALTORS hosted at Uncorked.
Brian Adair, Josie San Miguel, Ashley Patten and Natasha Puccio, all of Patten Law Firm, are pleased to see a great turnout at Spotlight Austin, which they organized to help top producers meet with others in the industry to share thoughts on today’s market. Glenn King of RE/MAX Round Rock fixes it his way at the Cheeseburgers in Paradise event that the Williamson County Association of REALTORS hosted at the Rabb House in Round Rock.
North N orth Ame American A merican Title’ Title’s s Marketing Marketing Quartet Quar Quar artet tet
by the mortgage market? Put your fears aside and rely on Harper Ray for your clients’ home financing. Harper is 100% committed to on-time closings. She will guide clients through industry changes and ensure a seamless, stress-free
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Your Y our Closing Closing Pro Professionals. Pr ofessionals.
DOWNTOWN DO WNTOWN A AUSTIN USTIN &RUSRUDWH 2IĂ€FH 823 Congress Congress Ave., Ave., #1400 Austin, Texas Texas 78701 512.482.0851
A AUSTIN USTIN RESE RESEARCH ARCH 5HVHDUFK %OYG 5HVHDUFK %OYG %OGJ 6XLWH %OGJ %OGJ 6XLWH 6XLWH Texas Austin, T exas 78759 512.249.0576
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home-buying process. Call Harper today!
Harper Ray Senior Loan Officer Phone: 512.314.7333 Fax: 512.233.0715 hray@houseloan.com y@
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October 2009
Realty Line of Austin
www.realtylineonline.com
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Realty Line of Austin
October 2009
David Burton is elected to the state level position of governor of the Women’s Council of REALTORS for 2010. He was installed at the TAR meeting in Dallas.
Mitch Wilhite of Capital One and Susan Spence of Home Warranty of America join Amy Kobza and Becky Hopkins, both of Austin Title, to see who they know in the latest issue of Realty Line. They were at the WCR sock hop.
Alisa LeBlanc and Bette Cook, both of North American Title, enjoy the perks of being one of the sponsors for the TREPAC wine tasting event that the Austin Board of REALTORS hosted at Uncorked downtown.
Champions School of Real Estate – Austin/Round Rock Campus! Over 26 years providing award-winning education across Texas and now conveniently located in the Austin/Round Rock Area! Providing Classroom, Correspondence and Online Courses for Brokers License, SAE, MCE and Designations.
Upcoming MCE Classes: 15 hours (includes Legal and Ethics) - $99! Prospering with Trends and Strategies - Taught by Allan Hancock! Sept 22 & 23 Oct 12-13 Nov 2-3 Nov 19-20 Dec 1-2 Dec 28-29
Upcoming Designation Classes: Accredited Buyer Representative (ABR) Sept 28-30 Nov 16-18
Senior Real Estate Specialist (SRES) Oct 1-2 Nov 19-20
Accredited Luxury Home Specialist (ALHS) Oct 21-22
Certified Home Marketing Specialist (CHMS) Home Staging Skills Oct 23
NAR’s REBAC Green Designation Course Nov 4-6
Provider #0005
Champions also offers all of the courses needed to get a Broker License. For most agents with two years experience in real estate, it generally takes only two more 30-hour courses to get your Broker License. Call a Career Counselor today for your “Personal Plan of Attack!”
Open to the Public
Call Today!!
512-244-3545
Realty Line of Austin
October 2009
You’ve Got Your Client Half Way There.
www.realtylineonline.com
Can Your Lender Take Them To The End Zone?
The Right Lending Partner Every transaction is unique and to have your business grow you need a strategic partner who can handle any situation. Since 2003 the award winning team at Land Mortgage has grown the right way - great people, sound principles. We execute the fundamentals and exceed expectations everyday. By simply doing what we do best close & fund loans - our experienced team ensures your transaction closes on time. To learn more call today.
About Land Mortgage We are a local mortgage bank with competitive loan programs, reasonable closing costs, and a full range of in-house services. There are no surprises here. We communicate every step of the way to ensure everyone is up-to-date on where financing stands for your transaction. As your preferred lender, we allow you to confidently do what you do best - Sell more homes.
A New Era In Mortgage Banking An AmeriPro Funding Company
www.landmtg.com
8300 N. MOPAC • Suite 225 • Austin, TX • 78759 • 512.335.5300 • Mortgage Banker No. 43954
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Realty Line of Austin
October 2009
Keller Williams Realty officially opens in Cedar Park’s 1890 Ranch.
ABoR’s David Foster takes time out at the organization’s annual wine tasting to chat with Socar ChatmonThomas of Elegant Estates by Auction.
Janet Thomas of DHI Mortgage puts her hips in action during the hula hoop contest at the Women’s Council of REALTORS sock hop. Caroline Carver, left, daughter of Realty Line owners Doren and Tawanna Carver, tied for first place.
What’s Your Bag? What’ Gucci or Golf?
Whatever W hatever Y Your our Style, Do It In Style with Drees Dr ees and with Extra Extra Cash of $1,000 ®
Drees Custom Homes is proud to announce a new Realtor incentive. incentive. W With ith every Nov receive ev ery market home yyou ou sell between Oct 1 and No v 30, 2009, recei ve yyour our (value cchoice, hoice, a Gucci bag or Golf Bag and/or golf clubs (v alue up to $1000), plus a $1,000 bonus! Quality, Quality, style, design... that’ what you you get with the best. See that’ss what inside and yyour our Drees Market Managers for more details.
www.DreesHomes.com www .DreesHomes.com
Bonus paid at closing. Must fill out W W-9 -9 form. Ma May y not be used in conjunction with an any y other bonus progr programs. ams.
October 2009
Realty Line of Austin
www.realtylineonline.com
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Homes from the $250’s to $3+ million Welcome Center: 512-266-5833 or 800-783-4640 For more information, visit www.steinerranch.com %XLOGHUV 7D\ORU 0RUULVRQ 'UHHV &XVWRP +RPHV +LJKODQG +RPHV 0RQWHUH\ +RPHV 'DYLG :HHNOH\ 3DUWQHUV LQ %XLOGLQJ &XVWRP +RPHV $I¿QLW\ +RPHV 5DQG\ 5ROOR +RPHV (FKHORQ +RPHV ,QIRUPDWLRQ FRQWDLQHG ZLWKLQ WKLV DGYHUWLVHPHQW LV FRUUHFW DW WLPH RI SXEOLFDWLRQ DQG VXEMHFW WR FKDQJH ,Q RUGHU WR UHFHLYH JLIW FDUG 5HDOWRU PXVW DFFRPSDQ\ SURVSHFW LQWR WKH :HOFRPH &HQWHU RQ ¿UVW YLVLW
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Realty Line of Austin
October 2009
Check out south Austin’s newest community— Central Park! Treaty Oak Homes’ new model is now open for touring.
Tom Morgan of the Texas Association of REALTORS joins Sandy Battise of Land Mortgage and Earl Hairston of the Austin Board of REALTORS at the TREPAC wine tasting at Uncorked in downtown Austin.
Jim Goldrick and Krystal Nelson, both of Texas American Title, pitch a few washers during Cheeseburgers in Paradise, a TREPAC event the WCAoR hosted at the Rabb House in Round Rock.
October 2009
ASSOCIATES IN PROGRESS
By Linda McNabb
CONTRIBUTING WRITER
The first and oldest title company in Central Texas, Gracy Title continues to be one of the most prestigious establishments in the community. Its title plant and document history dates back to the sovereignty of Texas, when the King of Spain granted land to the original settlers of Texas. Gracy Title has since grown to 15 locations in three counties, with an outstanding staff of more than 130 employees lead by president and escrow manager Wanda Frederick. Realty Line thought it was time to find out more about how Madam President (as some call her) got to the top of this historical tradition and what thoughts she has to share about the industry. Frederick: I started with Gracy as a receptionist in 1980 so I almost have my training wheels off. This was my first and only title company job since my introduction to the business. I actually had no idea I was going into the title business when I received a call from my boyfriend’s cousin asking if I would be interested in helping out with their phones at the Spicewood Lane office. She needed a receptionist and I needed a job… a perfect beginning! What are your current feelings about the profession? I have actually had the opportunity to do something I often encourage others to do. I got to take a 10-month sabbatical from it right in the middle of my career to try food sales. I found out that when you do something well and it’s rewarding, nothing else really interests you. Plus, it helps to be a glutton for punishment… especially in the trying times of the real estate market. When did you think you might want to lead the company? When I started, my goals were to do the best I possibly could in this job because I love working with people. As I learned more and more about the title business, I found myself setting my goals higher and higher over the years. I once told Larry Molinare, our past president and owner and now chairman of the board, that I wanted his job. I guess sometimes you need to watch what you ask for! What is it about the profession that keeps you interested? The ever-changing guidelines which keep you alert, different challenges presented daily and the desire to go home another day with a feeling of accomplishment... having helped someone else discover their dream.
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What would you like to share about your personal life? I am married to my best friend, a wonderful guy who happens to also enjoy helping people. Robert is a Travis County Deputy and has been for more than 22 years. We will be celebrating our silver anniversary next June. We have no children but have had the wonderful privilege of housing eight exchange students over the years. What do you want other real estate professionals and/or clients to know about you? That I understand and respect the job they do. We are all here doing something we love and it makes our job that much more enjoyable when we do it Wanda Frederick with people we trust and respect. President What do you feel is the most important thing you have accomplished? Touching so many people in so many different ways and making some dear friends along the way. I know I am a better person for all those who have helped me become the person I am today. What type of awards, honors, designations, etc., have you earned? I wish I could say I was in the “Who’s Who” or someone’s Hall of Fame but I don’t think that would make me near as proud as telling folks that Gracy Title has a recognition program that honors extreme customer service, million dollar premium productions, Best Director and even an Eagle Award which represents the highest honor one can receive for being the best at supporting all others within the organization, putting their needs and successes before your own. I am very proud to say that I have been the recipient of all these awards over the years. Have we overlooked anything you would like to share? I would like to say again what an amazing company Gracy Title is. Gracy Title Company joined forces with Stewart Title Austin last June. Gracy Title, a Stewart Company, was joined by David Tandy, our CEO, and together our executive team has managed to oversee the merger. It has been incredible in that it took two old, traditional, well-respected companies and allowed us to become stronger as one. We have an incredible staff of well-trained escrow associates and branch managers, a local title plant which can produce title work within one day, a team of five experienced underwriters on staff, production and accounting teams offering supreme support and a sales staff that none other can top. I feel I speak for each of us when I say that we get up in the morning ready to meet the day in a job we all enjoy and in a company that bears the resemblance to our family. This is what I am thankful for.
PARTNERPROGRAM P ARTNERPROGRAM
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Realty Line of Austin
October 2009
Bill Johnson of Allied Home Warranty talks with Regina Scott, J.B. Neale and Debbie Ates, all of Wilshire Homes, at the Women's Council of REALTORS meeting. Wilshire Homes was an event sponsor.
WCAoR president Barbara Wigginton cools off inside the Rabb House with Julia Bechara and Karen Black, both of Texas American Title, during the organization's Cheeseburgers in Paradise event.
Cathy Coneway of Stanberry and Associates and Kristin Carroll of Sente Mortgage try to decide which is their favorite selection at ABoR's wine tasting event at Uncorked.
October 2009
Realty Line of Austin
www.realtylineonline.com
Lisa is your best selling point. Kids love her. Mothers fight over her. She even cleans the house before they return home. Meet the world’s greatest babysitter.
When your clients learn the never ending stories of Falcon Pointe, it becomes more of a matter of “How soon can we move?” Let us help you make the next sale an easy one. Find more stories and the perfect home for your clients on the brand new falcon-pointe.com. Homes from the $170s D.R. Horton U Lennar Homes U Meritage Homes
Newland Communities is a privately owned company that creates residential and urban mixed-use communities in 14 states from coast-to-coast. We believe it is our responsibility to create enduring, healthier communities for people to live life in ways that matter most to them. www.newlandcommunities.com
This is not intended to be an offer to sell or a solicitation of offers to buy real estate in Falcon Pointe to residents of Connecticut, Hawaii, Idaho, Illinois, New York, New Jersey, and Oregon, or in any other jurisdiction where prohibited by law. Homes within the Falcon Pointe community are constructed and sold by builders not affiliated with Newland Communities or Newland Communities’ affiliated companies. Prices, specifications and details are subject to change without notice. © 2009 Newland Communities. All rights reserved.
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Realty Line of Austin
October 2009
WCR president Marie Dang Schwartz, left, and Michael Neuman of Realty Executives arrive at the NAHREP happy hour at Baby A’s to support presidentelect Lise Renee Samuels and bid on the silent auction.
Billy Kourkounakis of Connect Realty.com keeps it cool in front of the '57 Chevy Realty Line publisher Doren Carver drove to the Women's Council of REALTORS sock hop to add an authentic flair to the event.
Jason Klam and Laurie Nunnallee, both of First American Title, are out to take first place at the Women’s Council REALTORS golf tournament at Star Ranch.
More Production = More Fun! Find out why Goldwasser Real Estate agents celebrated their best month ever at the ACL Music Festival! Have a high-producing career with excellent quality of life.
For a confidential no-obligation meeting, contact Ryan Matthews at 512-420-0300.
October 2009
COMMENTARY
HUD Implements New Requirements under RESPA In an effort to require that lenders provide consumers with the proper disclosures, U. S. Department of Housing and Urban Development (“HUD”) has standardized the Good Faith Estimate (“GFE”) for all transactions covered by the Real Estate Settlement Procedures Act (“RESPA”). The purpose behind this standardization is to clearly disclose fees and terms of the loan prior to closing. This new GFE is intended to help consumers level the playing field between lenders when they are shopping for their loans and give them an easier way to compare their options. The new GFE now has “fee tolerances” which the lender may not deviate between the GFE and the final numbers at closing. There are three categories of fees. The first category includes fees which are not permitted to change. This category includes those fees that the lender generally charges such as origination fees, discount points, processing fees, underwriting fees, and lock-in fees. The second category includes fees for a third-party that a lender selects—if the borrower chooses to use the lender’s choice. This typically includes appraisal fees, credit report fees, recording fees and title insurance services. At closing, the fees from the second category are added together and when combined they may not deviate more than 10% from the initial GFE. The third and final category includes unrestricted fees. These are fees for services that a borrower is able to shop for on their own. Generally these fees cannot be obtained at the time the GFE is being created and these fees may include the borrower’s homeowner insurance, initial escrow account, and any fee where the borrower selects the service provider. Because these fee tolerances impose a great burden on lenders preparing their initial GFEs, it is critically important that a title company accurately quote fees to lenders upfront. It is also imperative that the title company disclose all fees of which they know or anticipate will occur. These quotes should include all fees that the buyer could be contractually obligated to pay at closing such as survey invoices and
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homeowner’s association dues. To complement the new GFE, the Settlement Statement (HUD-1) forms are also changing. The HUD-1 will contain line items that correspond with the GFE, thereby making it easier for consumers to verify that their final terms correspond to the initial disclosures. At first glance, the HUD-1 does not appear to be fundamentally different. The new form, however, could present some confusion to consumers who have closed a transaction using the old form. Under the current settleLatra Szal ment statement, each fee that is charged is shown on a single separate line. The lender’s fees currently are Associate Legal Counsel Gracy Title Company shown as individual charges in the Lines 801-812. Under the new form, all lender fees will appear on Line 801 of the settlement statement in a lump sum. A brief description will then be included in the left-hand column of the items included in the lump sum. While this may appear to be semantically a minor alteration, it has a tendency to create the appearance that the closing fees are higher than normal. For example, picture the buyer reviewing their settlement statement. Today’s buyer sees all of their fees on individual line items with a specific description attached to each line. The buyer of 2010 will see one lump sum charged by their lender, with descriptions in the notation column. The math works out the same on each form, but psychologically it may feel like their fees are high. In addition to providing accurate fee quotes, another way that title companies can help their realtor and lender clients is to prepare a preliminary HUD-1 as soon as all necessary information is available. Preparation of the HUD-1 requires copies of all invoices from the transaction, any applicable payoff statements, tax statements and the lender’s closing instructions. Once these items are available, a title company can prepare the HUD-1 for lender approval. When the HUD-1 is approved by the lender, it can be released to the parties in the transaction. Giving parties adequate time to review the settlement statement will help them understand how the numbers work out in their transaction. Real estate professionals should attend a class that covers the new GFE and HUD1 form changes in detail as soon as possible. The changes are mandatory January 1, 2010, but lenders have the power to begin using the new forms immediately.
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Realty Line of Austin
October 2009
On behalf of the Central Texas C o m m e rc i a l Association of REALTORS, John Doucet of Doucet and Associates Inc., welcomes panelists former Mayor Lee Cooke, former Mayor Frank Cooksey, Leander Mayor John Cowman, former Mayor Carol Keeton Strayhorn, former Mayor Will Wynn and CTCAR president Joe Linsalata. They addressed ways to keep Central Texas affordable.
April Downing, right, of Independence Title lends her support to Women's Council of REALTORS president Marie Dang Schwartz at the monthly luncheon.
Robert Wright of RL Wright REALTORS practices good form at Star Ranch, where the Women’s Council of REALTORS held its golf tournament.
October 2009
Reggie Kikta of RE/MAX Austin Associates, Kirby Bradford of Farmers Insurance and Vicki Aversa get ready for the next wine selection at ABoR’s wine tasting event at Uncorked, which benefited TREPAC.
Realty Line of Austin
www.realtylineonline.com
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BUY OUR HOME, WE’LL HELP YOU SELL YOURS Introducing the Wilshire Homes Contingency Partnership Plan ... Because We’re In This Together At Wilshire Homes, Built Around You also means that when you have a home to sell, we have a home to sell. When you enter into a contingency contract with Wilshire Homes, we’ll soon give you and your realtor a call and our team of experienced real estate professionals will come to your home, provide a “quick sale� analysis, and help you WOW shoppers from the moment they lay eyes on your home.
Stephanie Powell of Champions School of Real Estate and WCAoR president Barbara Wigginton ponder bidding on getaways, scuba lessons and other great treats in the silent auction benefiting TREPAC during Cheeseburgers in Paradise.
Let us free you up to concentrate on your new home. Here’s just a few of the ways we can help you out: CURB APPEAL TRANSFORMATION FOR THE EXTERIOR
PROFESSIONAL PHOTOGRAPHY TO MARKET HOME
HOME STAGING FOR THE INTERIOR
ABILITY TO RECIEVE ENERGY AUDITS
FINANCIAL ASSISTANCE FOR TODAY’S MARKET
REFERRAL TO NATION-WIDE MOVING AND STORAGE COMPANY
www.Wilshire-Homes.com
Jay Tucker of Reliant Title, John Horton of John Horton Realty and Chad Overhauser of Land Mortgage confer with Frank Perdichizzi of Private Label Realty at the company's business meeting.
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Realty Line of Austin
October 2009
Paula Fiedler of JB Goodwin REALTORS and Rita Snyder of Keller Williams Realty enjoy a light lunch at Walsh Ranch, where Drees Custom Homes held a REALTOR event.
Allison Ullrich of Patten Law Firm uses the opportunity at the WCR sock hop to tell others about the services the business provides.
Willard Castledine of Century 21, with guest Margo Bower and Richard Martin of Keller Williams Realty, discuss the bouquet of their latest wine selection at the Austin Board of REALTORS wine tasting event. Held at Uncorked, the event was a TREPAC benefit.
Kristen Corbell and Stephanie Winans, both of Austin Title, spread the word about the company to all the mortgage professionals at the AMP happy hour at the Roaring Fork.
Admasu “Adam" Haile, Lee Swayne and Sonja Benyoussef, all of JB Goodwin REALTORS, team up to preview the Drees Custom Homes inventory during a recent luncheon at Walsh Ranch.