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Welcome Home George and Laura: Love The ‘Hood

This sign is plastered up and down Meaders Lane and sprouting up on Daria Drive and Place, where crews are at work trimming trees on the new Bush residence(s). Planned as a “welcome wagon” for the President and Mrs. Bush, the signs are the brainchild of one Patrick Bibb, a 2007 Hillcrest High School graduate and a sophmore at TCU studying Economics. Patrick lives on Meaders with his parents. His brother Ryan, a Hillcrest senior, is helping him create the signs. $20 each; $2 from each sale will be given as a donation to Pershing Elementary School in honor of Laura Bush. Patrick is doing this independent of any political persuasions, though he did vote for John McCain.

“Regardless of your political views, President Bush was our leader for the last eight years,” says Patrick. “I think he deserves respect for being our Commander in Chief and we are delighted to have him in our neighborhood.”

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Swapping Spouses, Houses?

A friend in Massachusetts told me about a couple-swapping ring going on at their country club — how risque! This I can handle: the DMN ran a cool story on house swapping. I understand house-swapping is a trade, an  ”I agree to buy your house, you agree to buy mine” transaction. Like consensual swingers, potential home swappers post pictures (”House Porn”) and descriptions of their homes online, hoping to attract other homeowners looking to trade. (Do they fudge on details, like 6500 square feet and oceans of granite when really those are 12 by 12 granite tiles?) Ideally, they buy each other’s property and even better, no STDs!

The National Association of Realtors does not track swap sales, but a number of house-swapping websites have popped up in the last couple of years, most reporting steady increases in online swap postings, like Craigslist, which reported a 30 percent increase in house-swap listings in 2008 over last year.

So I wish I had asked our teacher about this in school. Vitally,  what is the role of the Realtor? I would imagine it would be business as usual for Texas agents, but since out-of-state agents are considered “foreigners” here until they obtain a Texas license, wonder if you have to use an agent or an attorney if the swapper is in another state? And I imagine there are some horror stories out there — about the houses, not spouses — anyone?

PS: Another trend agents tell me we are going to be seeing more of: owner financing. Stay tuned.

Real Estate Is The Third Most Important Industry In Texas

So says the Real Estate Center at Texas A&M University — I could have told you this. Six billion dollar industry and growing.

Mortgage Rates: What’s The Story, Glory Or Gory?

My prediction: glorious low rates in 6 months. Today was my last full day of class at Champion School of Real Estate before my elective and then — I take the state exam! I am getting my real estate license to be a better real estate reporter for the D Empire and our forthcoming new website. Learned a ton – have TOTAL new respect for agents and brokers. From remembering intermediary to sub agent to IABS forms always need to be in size 10 type to HB 489 to independent contractor status to TRELA and TREC, ostensible authority and agency by estoppel, MLS to agent with appointment, without appointment, all I know is HOW DO YOU AGENTS DO IT? And I need an appointment with a glass of wine!

But, while I was ensconced in academia, history was made in the interest-rate realm. Here a couple of takes on that, jump for one from Philip Walker, one of my favorite agents at Keller Williams Turtle Creek, who brought lunch to recruit the A-plus students. Mortgage rate comments are on and the meter is running:

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