Can’t Stand It: Blame The Rat Problem on Home Builders?

Give me a break: some Preston Hollow homeowners are blaming the rampant Dallas rat problem on tearing down old homes. Do these people need their heads examined? Of course we have rats in Dallas — way more than in Chicago where the nasty critters freeze. Every home has them, new and old. (Wait ’til they show up at the Ritz!) The new homes at least have tighter seals to keep them out — my 7 year old home lost its virginity to rats a couple of years ago thanks to the squirrels.  (Like any mom, I was so upset.) I called Critter Catchers and we found the varmin after he stunk up my attic. That was a Lysol day. We live on earth — and earth is loaded with critters, sometimes much to my dismay.

Negative Equity: But What If You Just Simply Live In It?

Fasten your seatbelts: it’s going to be a rough ride. Merrill Lynch is bullish on the fact that housing prices will decline further. In reading all the negative about the NATIONAL housing market, I have a question:

“If you put 10% down on a $500,000 house and the house’s value drops 10%, you have zero equity. If the market drops 15%, you owe more than the house is worth.”

True. But what if you aren’t going anywhere for 5 years? Is the mortgage company ever going to “call” your loan in when you are in a negative equity mode? No, you just feel poor, hold off on the home improvements, and sit tight but you pay the mortgage and then in five years, you have positive equity.

Or am I missing something here?  Â

What Realtors Don’t Say (Ouch)

Warning, if you’re a broker, this one is going to hurt. Better to know the whole story than half….

NAR’s $40 Million Ad Campaign

Says that buying Real Estate is still a solid investment. Again, this is one of those “national forecast” things. Wonder how many they’ll run in Texas?