Allstate Insurance to Raise Rates Again

After everything that happened about 6 years ago with the Black Mold stuff and Allstate having to refund all their policy holders for unfair increases, Allstate is trying to raise rates again.

Last month, Allstate submitted a plan to increase rates by an average of 6.9%. They claimed it was the "cost of doing business." Haven't we all heard that? Well, that plan got rejected because of the large increase and not enough justification for it.

Here we are a month later, and they have submitted a new plan for a 5.9% increase. That still seems fairly high to me. This increase will take place immediately for policy renewals, though it could still be blocked by the Texas Department of Insurance officials.

Allstate is the second largest property insurer in Texas with about 917,000 Homes. That doesn't sound like very many, but that just shows you how many Ma 'n Pa shops there are offering coverage, though those smaller companies are still backed by the larger ones.

They are pointing out that this, more than likely won't effect the North Texas area, and it's mostly for the golf coast area.

Farmers also submitted a plan for an increase, but withdrew it. They are working on submitting a new plan that has a better chance of getting passed.

Good thing I'm no longer with Allstate!!

OakPoint TX Upholds English as Official Language

A couple of months ago, the small city of OakPoint, TX voted to have English as the Official language of their city. With much uproar, the appeal process started. Yesterday, the law was upheld with a 2-3 vote.

Oak Point is a tiny little city in Denton County off Lewisville Lake, just NorthWest of Little Elm, TX. The population is under 3500 residents. With such a small population, it's hard to imagine that they've hit the news as much as they have with what's going on there. Maybe it's a publicity stunt to increase their population.

This new law does not apply to Businesses or Residences. Also, the city must still comply with state and federal laws that would require the use of multilingual communication.

Here is a link to the story.

Here is a link to OakPoint, TX's Website.

Mortgage Misinformation in Today's Market

I am so sick of all the articles that are being published and posted and talked about on the National News stations when they are not true. The final straw for this blog is an article I just read on http://www.dallasnews.com/ real estate section. You can read the full article here.

It says in this article that a buyer must have a minimum of 680 credit score, and that a 720 will help lower the interest rate offered. WHAT??!!

Buyers, please be aware that there are MANY lenders out there that are offering loan programs with much lower credit scores. Can you get a decent rate if you have a 500 FICO score? No, not really, though you might qualify for an FHA loan who doesn't care what the score is. Can you get a decent rate at a 600 score? Yes, probably. As long as your recent past history is in good condition and you're able to document your employment and assets, you're fine. You do NOT need a perfect credit score to get a loan.

Don't get me wrong. Some people who have decent scores aren't getting loans because they have collections out the wazooo, and they're behind on car payments and things like that. Do those people deserve loans? My opinion, NO! However, if you're current on all payments, and you have a decent (not perfect) track record, you are still VERY able to obtain a mortgage in today's market.

Please don't let news articles scare you. Call someone and ask specific questions about your specific situation for clarification before you make your own decision on whether or not you'll get approved.

Remember, I work all of North Dallas County and Collin County including Richardson, Plano, Allen, Frisco, Carrollton, Garland, Rowlett, McKinney, etc... my car will take us anywhere you need to go!!

ARE YOU PACKED YET?!

952 Lockhart Dr, Plano TX 75023 ONLY $143,000 with POOL

3 Bedrooms, 2 Full Baths, 2 Car Garage, 2 Living Areas, 2 Dining Areas, and POOL all for under $150k!!
CLICK HERE for the Visual Tour!!


Great House in Great Area of Plano TX. POOL with perimeter fence & privacy with 8' Board on Board Fence. Oversized Cov Patio for Entertaining. Many updates thoughout the home: fresh paint, newer carpet, newer tile floors in wet areas, newer dishwasher, new lighting fixtures & fans, new hardware, & much more. Low maintanence pool with a cartridge filter & newer motor. Versatile floorplan with second living area and formal dining. Floor to ceiling brick fireplace. This is a Must See!!



There is also an extended covered patio which is great for entertaining with all those POOL parties!





Look how open the floorplan is. As you walk in straight ahead from the foyer, you'll see the Kitchen open to both the Breakfast Nook and Family Room. A conversation will never be missed with this type of layout!





The Living Area has vaulted ceilings and a floor to ceiling Brick, WoodBurning Fireplace.


Remember, I work all of North Dallas County and Collin County including Richardson, Plano, Allen, Frisco, Carrollton, Garland, Rowlett, McKinney, etc... my car will take us anywhere you need to go!!

ARE YOU PACKED YET?!

BabyHarris Update

BabyHarris is doing very well. She is 26 weeks and kicking A LOT! At my appointment last week, I had gained 19 pounds (YIKES!), and my blood pressure was 98/42. Yes, I said 42. I asked if that was too low. The Doc said that as long as I'm walking, talking, eating, and breathing, that I'm good to go!

I was sent home with juice to take next week for my glucose test which is done between 24-28 weeks.

Things are coming along. She has a room, but no furniture yet...


No more mustard yellow, and now we've got lavendar! Isn't it pretty with all the white trim around the doors and plantation shutters?

The bathroom is a work in progress and I'll post when that is complete, which should be any day now.

Dallas Sales Prices Up... But Are They??

According to the latest information from NAR, the DFW area has had a 1.7% increase in sales prices over last year with the rest of the nation having a 1.5% DECLINE... Does the 1.7% increase give a true an honest look of what's going on in the area? Maybe not...

Since the subprime market made their changes, it knocked a lot of lower-end home buyers out of the market. With that, the under $150k price range has been harder to sell. However, sales of the higher priced homes are holding steady and are fairly strong.

Then, you take the higher priced homes and add those to the lesser sales in the lower prices, which used to be the bread and butter, and it creates an increase in sales prices (up to $156,500), though it's not a complete and true story.
Overall, in Texas, not just DFW, sales were down 1.3% in the second quarter. When you compare that to the rest of the country, they were down on average of 10.8%. What a huge difference! No wonder we're still getting so many people relocating here.

Remember, I work all of North Dallas County and Collin County including Richardson, Plano, Allen, Frisco, Carrollton, Garland, Rowlett, McKinney, etc... my car will take us anywhere you need to go!!

ARE YOU PACKED YET?!

Commissions Based on Asking Price... Good Idea??

I had a listing appointment on Saturday, and I got asked a question that I had never been asked before. I thought it was an odd question, but the seller was very serious as he has bought his last two houses without a Realtor's help, and has never had to sell a house, so this is his first experience with using a Realtor and with selling.

He asked if the commissions were based on asking price. I looked at him, probably with a startled look on my face, and said no. I then said, you may be on to something there. I think commissions should be based on asking price and then I could list each house for $1M, and have the sellers also sign price reductions the same day. Talk about motivation to sell that house and not let it expire!!

On another side of it, I was thinking this was a good idea because if the sellers had to pay commissions based on their original asking price, they would be less willing to over price their houses. Doesn't that sound grand?? Less people over pricing, more people being realistic, and we'll get this inventory down much quicker than the houses sitting on the market.

What do you think?