Christmas in the Square – Frisco, TX

The 2008 Christmas in the Square is going to be bigger and better than before, with over 450,000 visitors expected over the holiday season!

The largest choreographed holiday lights and music display in Texas is combined with family-oriented activities to produce a "signature destination event" for Frisco.
Carriage Rides, Adventure Railroad Trackless Train, Games2U Mobile video gaming theater,
Santa Claus and Santa’s Gift Shop are just some of the activites you and your family can enjoy!
Christmas in the Square lights and music will continue each evening (5:30 - 10:00) through January 1, 2009.

For more information visit http://www.friscosquare.com/.

Snow Globes at Willowbend – Plano,TX

Since their debut four years ago, The Snow Globes have become a must-see family tradition at The Shops at Willow Bend. This year's theme, The Polar Express, lets visitors experience the wondrous Polar Express train with multi-sensory sights and sounds.

Visit the Snow Globes, November 7th through December 24th, where you can play in the engine room with the train whistle, get "snowed on" inside the giant snow globe and be transported to the North Pole in this spectacular interactive experience. Get your family photo taken aboard The Polar Express as well as the traditional visit and photo with Santa.

For more information visit http://www.shopwillowbend.com/.

White Christmas - Allen, TX

Friends of Allen Public Library are hosting a free screening of the classic, White Christmas on Thursday, December 16 - 7:00 p.m.

Christmas would not be as bright without a White Christmas. In 1954, Paramount Studios debuted its new film process, VistaVision, which enhances the film’s visual splendor. Combining the music of Irving Berlin with the performances of Bing Crosby, Danny Kaye, Vera-Ellen, and Rosemary Clooney, this is a holiday treat that everyone will enjoy. Introduce your children to this timeless film.

A holiday gift you will not want to miss: "May your days be merry and bright; and may all your Christmases be white."

For more information, call Tom Keener at 214-509-4911 or email tkeener@cityofallen.org.

BOLD ACTION KEY TO SOLVING HOUSING CRISIS, ECONOMIST SAYS

Although recent government efforts to improve America’s housing markets have proven less than effective, renowned economist Dr. Mark Dotzour says bold government action can get the market back on track.

In an article released today, the chief economist for the Real Estate Center at Texas A&M University offers a four-part solution to fixing the housing crisis, one that involves more than simply devising ways to keep people in their homes.

Four Possible Solutions:

1. Curtail supply of new homes on the market.
2. Slow down homes coming back into the market through foreclosure.
3. Incentivize investors to buy and rent properties to tenants.
4. Lower mortgage rates to be in line with the Ten Year Treasury bond.

Dr. Dotzour simplified the crisis to be an issue of too much supply and not enough demand which needs to be reversed. Lenders recognize the necessity of loan programs for investors to absorb the current housing glut.

This would be positive news for those looking for a place to invest their money. Real estate has remained a solid investment and will continue to be a sound investment. With lower interest rates and possible incentives to investors, this could turn into an opportune time to invest in residential real estate.

Dotzour's article is available at http://recenter.tamu.edu/pdf/1884.pdf.

Fair Park Holiday Lights - December 13th & 14th

Bedazzle the holidays this year with music, lights, horse-drawn carriage rides, outdoor holiday movies at the Cotton Bowl, Dallas Wind Symphony concerts, plus free admission to the Fair Park museums and more at the Fair Park Holiday Lights. This two-day holiday festival will be held on Saturday, December 13 and Sunday, December 14 on the grounds of Fair Park.

Thousands of LED lights will be shining throughout the park during the holiday season! The family-friendly event will feature the Official City of Dallas Tree Lighting Ceremony on Saturday at 6 p.m., and there will be a special candlelight tribute to the men and women serving in the military both nights at that time.

Come enjoy free admission to all Fair Park museums from 3 – 7 p.m. For more information visit http://www.fairpark.org/ .

Treasury Eyeing 4.5% Mortgages?

News that the Treasury Department may use Fannie Mae and Freddie Mac's influence on mortgage markets to push interest rates on home loans down to 4.5 percent has raised hopes for a boost in home sales but sparked debate on whether it's wise to prop up housing prices.
The Wall Street Journal reports that the Treasury is considering using Fannie, Freddie and other government-sponsored entities to purchase securities backed by mortgages at a price equivalent to a rate of 4.5 percent.

Treasury officials have not commented, but the Federal Reserve announced a similar program on Nov. 25, saying it would spend $600 billion to buy mortgage-backed securities and debt issued by Fannie Mae, Freddie Mac and Ginnie Mae.

The announcement brought down interest rates on conforming loans by about 1 percent and sent mortgage applications soaring.

Each 1 percent reduction in mortgage interest rate gives home buyers about 10 percent more purchasing power. That can not only get buyers off the fence, but also prop up home prices.
This intiative, coupled with the $7,500 Homebuyer Tax Credit, could mean great news for buyers and sellers alike!

Would you like more information? Contact donna@donnabthomas.com.

Top 11 Reasons Your Seller Should List During the Holidays

11. By selling now, you may have an opportunity to be a non-contingent buyer
during the spring, when many more houses are on the market for less money!

10. You can sell now for more money and we will provide for a delayed closing or
extended occupancy until early next year!

9. Even though your house will be on the market, you still have the option to restrict
showings during the six or seven days around the Holidays!

8. January is traditionally the month for employees to begin new jobs. Since
transferees cannot wait until spring to buy, you need to be on the market during
the Holidays to capture the market!

7. Some people must buy before the end of the year for tax reasons!

6. Buyers have more time to look for a home during the Holidays than they do
during a working week!

5. Buyers are more emotional during the Holidays, so they are more likely to
pay your price!

4. Houses show better when decorated for the Holidays!

3. Since the supply of listings will dramatically increase in January, there will be less
demand for your particular home! Less demand means less money for you!

2. Serious buyers have fewer houses to choose from during the Holidays and less
competition means more money for you!

And the number ONE reason why your Seller should list during the Holidays...

1. People who look for homes during the Holidays are more serious buyers!

Would you like more information about selling your home? Contact donna@donnabthomas.com.

Save On Your Credit Score This Holiday Season

With the economy slowing and holidays just around the corner, many consumers may be looking to credit cards to help them get through the heavy shopping season. While that may be a good short-term solution, you want to make sure you don't overlook the long-term impact on your credit rating. After all, the actions you take today could hang over your head for years to come--and may make it tough for you to get the home loan or car loan you want in the future.

To help you make sure you manage your credit cards--and your credit score--during the upcoming holiday spending season, follow these steps:

Double-check your card limits. Many credit card companies today have started lowering credit limits. That means you have less credit available, but it also may mean that your credit score is about to take a hit. That's because approximately 30% of your credit score is based on the amount you owe in relation to your available credit. So, if a credit card company cuts back your limit, you may find that you're suddenly almost maxed out. That's not a good sign for your long-term credit score rating.

Ask, pay down, or move around. If some of your credit limits have changed or are nearly maxed out, you can take a few steps to help alleviate the problem. First, consider simply asking for a higher limit to your card...not necessarily to use up with spending, but to allow more unused credit line to be available and therefore boost your credit score. You can also pay more money to the cards that are near the credit limit, if you can. Or, if you have cards with little to no remaining credit line, transfer some of the larger balances onto the cards with lower balances. That'll give you a more... well... balanced financial picture.

Leave home without it. One of the best tips for the holiday season is to: make a budget, identify specific items, and then leave home without your credit card. Instead, bring just enough cash to purchase the items on your list. That will help you resist the urge to impulse buy, and keep your credit card balances lower.

Pick a card... not just any card. If you can't bring cash, make a credit card plan. Identify specific items that you'll pay for on specific cards. By making a plan and spreading your purchases to different cards, you won't overspend and you won't risk running up one or two cards that are near the credit limit, which will hurt your credit rating.

Resist card offers at the counter. Retailers are famous for offering "savings" when you open a credit card. But those savings often don't outweigh the long- and short-term negatives. For one thing, opening a new account--or multiple accounts in a short period of time--can negatively impact your credit score. In addition, consumers often spend more than planned when a new card is suddenly available. So this holiday season, resist the temptation.

Stay active. If you have older cards that you don't use, make sure you keep them active. For one thing, some of those older cards help establish a longer history of positive credit. For another, the available credit on those older cards can help keep your credit score higher because it improves your overall debt-to-credit ratio. To keep those cards active, make sure you charge one or two items on them throughout the year... like, say, when you go shopping for the holidays. Then, pay them off when the bill comes in.

Always pay on time. Your payment record is a very large part of your credit score, so it's crucial that you have an idea how your holiday shopping will impact your credit card bills and that you make a plan to pay those bills on time. If you have trouble for any reason, contact your card companies right away to work out a plan that helps you pay down your debt... and save your credit rating from a huge hit.

For more information contact donna@donnabthomas.com or visit www.donnabthomas.com.

McKinney's Weather Forecast: Snow!

Our Texas Christmas may not feature snow, but snow is coming to McKinney on Dickens weekend! If you can’t make it to the mountains this winter, come and enjoy our snow tubing hill.

Enjoy an old fashioned, Victorian atmosphere with horse drawn carriages, strolling carolers, visits with Santa Claus, the Christmas tree lighting and activities for all ages. Don't forget to visit the tubing hill which will be in th square all three days.

Come visit downtown McKinney, Texas this November 28, 29 & 30 for our 28th annual Dickens of a Christmas festival!

For full schedule of events visit www.dickensofachristmasfestival.com.

Giving Thanks

The point of Thanksgiving is to remember the things we have to be grateful for. It's our special time to give thanks... not just for the obvious, like food, but for the thousands of fortunate moments, the multitude of blessings that we receive each year.

That's not always as easy as it sounds. We tend to remember the bad things much more easily than the good. That's where this article comes in. using the tips below; you can make thankfulness an everyday habit. It's a skill that will benefit you throughout the year.

Begin by keeping a gratitude journal. Don't write down negative things; only positive ones. For example, "I'm grateful that I made it through that heavy rush hour traffic safely." "I'm grateful that I got to see a beautiful sunset." "I'm grateful that I have a class at school that I really like."

Think of all the good things that happened because something bad happened first. For example, "If that slow driver hadn't pulled in front of me, I would have gotten a speeding ticket." "If I hadn't tripped on the playground, I would never have met such a nice person." "If I hadn't experienced unemployment, I would never have acquired the skills that got me a more fulfilling job."




Don't focus on what you don't have. Focus on what you do have. For example: "I'm so fortunate to have a warm place to sleep in the winter." "I'm so fortunate to live in a safe neighborhood where I can take walks." "I'm so fortunate to be able to see the beauty around me."





Think about people you've known that have made you thankful for their existence. They can be family, friends or simply people that you've read about or seen on television. Imagine how many other people there are who might be equally as wonderful. You just haven't met them yet.





Think about people who have made life hard for you. Now think about the things you accomplished because of them. Did you finish something because they said that you couldn't? Did you get better at something because they made fun of you when you did it badly? Did their cruel actions make you vow never to treat others that way? Even the negative forces in your life can be hidden blessings, worthy of your gratitude.





Think about the animals that have given you joy: Dogs that love you with every inch of their hearts, cats that think your lap is the best place to nap in the whole world, birds whose songs uplift your spirit, squirrels whose antics put a grin on your face and so on.




Think about the places that make you smile: A favorite hangout, a wooded trail, an exciting city, a great spot from which to view the sky, a hill that you once rolled down. Give thanks for all these things.




Now pass it on. True gratitude involves action. Lend a hand. Pitch in. Make a gift. Give your time. Listen. Give back as often as you can. Even a friendly greeting can make all the difference in the world.

What Exactly Does "Rent to Own" Mean?

In a lease-purchase, you are effectively a renter for some time until you decide to purchase the home. While you lease the property you have to review the document in light of the landlord-tenant relationship. You have to decide who will have to pay for the cost to maintain the property with a view towards those major components of a home that can have problems and then deal with the minor maintenance items.

As a tenant of the property, you need to remember that you do not own the property. You should not invest in the home, make improvements to the home or spend much money on the home until you decide to buy the home and exercise your rights under the lease-purchase and have closed on the home.

When the document deals with the purchase side of the deal, you need to be quite careful. If you are putting money down to assure your seller that you will buy the home, you need to know that your down payment is safe. You also need to make sure that the seller will have the ability to close on the deal when you decide to exercise your rights to purchase the home.

So what do you need to look out for? As a general rule, you need to make sure that the person you are dealing with owns the home and can sign documents with you as both landlord and seller of the home. You also have to negotiate the manner in which the owner will take care of the property and won't take actions that will disturb your living in the home. It won't do you much good to live in the home if the seller treats the home as his and deprives you of your privacy and joy of living in the home.

The owner has to maintain the home until you close on the purchase. If you take care of the ordinary and routine maintenance of the home, your documentation needs to set up a mechanism for you to make sure that (1) the owner has homeowners insurance to pay for damage caused to the home by a casualty, (2) the owner is current on his mortgage payment to avoid losing the home to the lender, and (3) the owner is current on his real estate tax payments and homeowner association fees and dues to avoid losing the home to the taxing authorities or association.

If the owner fails to keep any of these items current, you could find yourself homeless in the future even if you have been a model tenant.
If the owner maintains the home, pays the real estate taxes, mortgage and homeowner association payments, you should be in a good position to close when you decide to purchase the home in the future.

But you also need to treat the home as a purchase at some point in time; your documentation for the lease-purchase might require the seller to provide you with a title insurance report. Depending on the lease-purchase arrangement and how serious you are about buying the home, you might be better off knowing early on whether anything affects the title to the home now rather than later.

If you lease the home and wait a year or two to review the title to the home, you might be surprised by what you find. While you might not be obligated to purchase the home if the title report shows something you don't like on the title, you will not have wasted a year or two in a home you can't or won't purchase.

Lastly, any money held by the seller for the purchase of the property should be held by a third party that can hold the money and would not disburse that money until the deal closes, or if you decide not to purchase the home, the deal dies and you move somewhere else.
These are just some of the issues to look out for; work closely with your real estate professional when you are drafting the documents to avoid any surprises later on.

For further information feel free to contact donna@donnabthomas.com.

Dickens of a Chirstmas Festival

Come Visit Downtown McKinney November 28, 29 & 30
for the 28th annual Dickens of a Christmas festival!

Downtown McKinney’s premier festival, the 28th annual Dickens of a Christmas, is right around the corner. An old fashioned, Victorian atmosphere with horse drawn carriages, strolling carolers, visits with Santa Claus, the Christmas tree lighting and activities for all ages. Come and enjoy Christmas music, Dicken's era dress, food and children’s activities provided by local not-for-profit organizations.

Center stage this year is our snow tubing hill. Bring your family and enjoy the weekend tubing, visiting the many great shops and restaurants on the historic square, and entertainment. It's the perfect start to the holiday season.

Santa Claus always enjoys the Dickens festival and coming in person! He will be available to see your children to hear there requests and for picture taking all three days during his vacation from the North Pole. Catch him at the MPAC building in the center of McKinney square.

Children will also have an opportunity to write letters to Santa to be sure Santa won’t forget the wish list!

It all starts on the 28th with the tree lighting ceremony, a message from our Mayor, the lighting of the tree and candlelight shopping until 8:00 p.m

Periodically during the month of December, the shops in downtown McKinney will stay open for extended hours so that customers have a chance to finish all of that holiday shopping in one place with over 100 boutiques, art galleries, bookstores, apparel, gifts and exquisite antique stores. Visitors can find unique and special gifts that they won’t find anywhere else. This magical event is free to the public. CART will provide free shuttle service from First Baptist Church of McKinney to the Historic Downtown.

For additional information and the full schedule of events go to: www.dickensofachristmasfestival.com.

Housing Market Is In Recovery

With all the bad economic news in the headlines lately, you can easily lose perspective on what's really going on in the real estate market.

Here is something to keep in mind: The stock market is NOT the housing market. The Stock Market is on a whole different set of tracks and it's been in a highly volatile state for more than a month.

Housing, on the other hand, has already endured its painful correction for two and a half years … is now pretty much stabilized … and is slowing moving toward its cyclical recovery.
For example, new mortgage applications increased last week by 12 percent, according to the Mortgage Bankers Association. Applications from people looking to buy houses with FHA loans were up by 15.3 percent, while applications from purchasers seeking conventional mortgages rose by six and a half percent.

How could that be, with all the grim economic news? Well, remember that there is a huge pent-up demand simmering away out there for housing -- especially from first-time buyers who want to scoop up low-priced deals. This along with the $7,500 Homebuyer Tax credit and the drop in interest rates buyers are staring to come out and are ready to shop for a home.
Fixed thirty year rates fell from six and a half percent to 6.24 percent during the week. Fifteen year rates broke below six percent to 5.9 percent, down from 6.14 percent.

Another piece of positive news you may not have noticed: Pending home sales were higher than year-earlier levels for the second straight month -- 1.6 percent higher than September 2007.

All these facts add up to some good news for buyers and sellers which translates to good news for our economy!

For more information contact donna@donnabthomas.com.

NEW TAX LAW IMPACTS THOSE THAT TURN RENTAL PROPERTY INTO FAMILY RESIDENCE

Property owners need to be aware of the tax law change that will go into effect January 1, 2009. This new law changes the how one is taxed when they turn a rental property into a primary residence.

Currently, if the property is sold at least 2 years after the date of the original purchase, and it is owner occupied at the time of the sale, you may apply the full $250,000 exclusion against the gains.

Under the new tax law this would not be the case. You are still eligible for an exemption if you sell a property at least 2 years after the date of original purchase, and it is owner occupied. However, you may be subject to capital gains based on the percentage of time the property was used as a rental. You will also have to pay tax on depreciation recapture.

One of the great things about building a real estate portfolio is that when life changes occur it gives you more options. Making the decision to live in a former rental property is an excellent solution to many situations. However, you do need to be aware of the tax implications when making such financial decisions. This is especially significant when it is a divorce situation. When determining the value of the properties at the time of the division of real estate, these tax consequences need to be accounted for to ensure a true accounting of the value of the assets to be divided. There is more to the value of a home than an amount determined by an appraisal.

Donna Thomas is an expert in navigating clients through complex real estate transactions. For more information please contact her at donna@donnabthomas.com.

The Heard Ropes Course Grand Opening

Open to the Public All Day
November 15, 9 AM – 5 PM

The Heard Natural Science Museum now offers a new High and Low Elements Ropes Course located within a beautiful deciduous forest tree canopy.

• Rock Climb: The 110 foot high rock climb is no ordinary wall. It is nestled within a two hundred year old Bur Oak Tree; you won't find anything like this around!
• Team Power Pole: Choose a partner and tackle the 40 foot high team pole together, then finish with a leap towards the trapeze!
• Zip Line: Enjoy a ride on our 500 foot zip line and soar through the tree canopy with the wind in your hair!

Adults and children ages 7 and older.
Children must be accompanied by an adult
General admission:
$25/per person
First come first serve

Five Financial Mistakes Married Women Make

Here are five common financial mistakes married women make — along with some advice on how to avoid them.

1. Mistake: Handing Over the Purse Strings By not engaging in the family finances, women set themselves up for potential hardships. Many women who managed their finances perfectly well while they were single, fail to stay informed after they got married which could lead to financial hardship.

Solution: Pay Attention to the Household Finances Both partners should attend the meetings with insurance agents, accountants, financial planners and lawyers. Women should also look over monthly bank statements and credit card bills and couples should make a list of all bank and brokerage accounts and insurance policies and keep it with other important documents, such as wills and medical directives.

2. Mistake: Losing Your (Financial) Identity Many women close out their old accounts and use joint accounts. Although there is some practicality to this it may result in you losing your own individual credit rating.

Solution: Maintain Some Individual Accounts You always want to maintain your own credit identity. It is recommended that couples keep three bank accounts (his, hers and ours) and maintain separate credit cards.

3. Mistake: Walking Away From Your Career While you might welcome the chance to stay home with your kids, the longer you're out of the work force, the harder it can be to jump back in. Women often face low ball wages or lower job titles when they try to return to work after a long hiatus.

Solution: Keep Your Skills Fresh It might be hard to do when you're up to your eyeballs in dirty diapers, but unless you're independently wealthy, you should always be aware that you might someday return to the work force for one reason or another. (Kids, after all, do grow up.) So don't lose touch completely. Try to take on consulting projects during your industry's busy season and attend professional networking events. Even charity work can give you a leg up when you start applying for a new job.

4. Mistake: Not Saving for Retirement Many married women don't make retirement-saving a priority. If the husband is the primary wage earner, the wife often trusts her spouse to save enough for their collective golden years.

Solution: Penny-Pinch Now for Your Future Make saving for retirement a priority even if it means stashing away less for your children's college education. If you're working, save as much as you can in your company's retirement plan, or in an IRA. If you're not employed, contribute to a spousal IRA.

5. Mistake: Asking for the House During a Divorce Women often focus so intently on winning custody of the children or keeping the house that they lose sight of the bigger financial picture. Many fail to look at the entire financial picture including what their life will be like after the divorce.

Solution: Get Financial Guidance When women are going through a divorce, they need to determine which assets will help them pay their bills and reach their long-term goals. Some women might want to consult a financial planner as well as a real estate professional that specializes in these situations.

Donna Thomas is a Realtor who has expertise in advising and guiding people through complex real estate transactions. For more information contact donna@donnabthomas.com

The Samaritain Inn - The Only Homeless Shelter In Collin County

As the holiday season approaches and we begin the preparations for our family celebrations we need to also remember those in need. The Samaritan Inn provides, at no cost, a secure and clean place to live. Their building has separate living areas for men, women, and families. They also have playrooms and a fully equipped playground. They serve three well-balanced meals daily and provide personal hygiene products. If necessary, clothing, coats and shoes are also available. Within this nurturing environment, experienced case managers assess each resident and their needs to develop an individual program plan with a goal of independence.

Referrals are made for support programs; legal and financial counseling; and mental and physical health services. They also offer classes in a variety of life skills- such as parenting, budgeting, job training. Individual program plans are reviewed regularly to insure that all of the necessary steps are being taken along the way to reach independence in the future.

Residents who “graduate” from the Samaritan Inn receive all the necessary items to set up their own households- from furniture and bedding to lamps, linens and cleaning supplies. On going support is also provided, for as long as necessary, to insure long term, permanent independence.In addition to their traditional program, the Samaritan Inn also provides short-term emergency shelter for those individuals who find themselves in a crisis. This may be for a single night or up to a few days. Emergency shelter residents also receive three meals, clean clothing and use of the shower and laundry facilities.

The Samaritan Inn is in need of donations of good and time for those that are able to give. Donations are accepted and greatly appreciate for items such as food, clothing, cleaning products, toiletries and household goods. If you have some spare time you could also assist with meal serving or child care.

To learn more about the Samaritan Inn, see a full list of items needed or obtain a volunteer application please visit http://www.thesamaritaninn.org/

Veterans Day Ceremony this Saturday

Bring the entire family to a fun filled event and see the progress being made at the site of the new Veterans Memorial Park.

McKinney`s Veterans Day Ceremony will be held on Saturday, Nov. 8 at 11 a.m. and the admission is free. It will be held at the future site of the Veterans Memorial Park in McKinney on Weiskopf Avenue one block south of the Clubhouse at the TPC at Craig Ranch.

The McKinney North High School choir will perform as will the McKinney Fire Department Pipe and Drum Corps. Speakers will be Congressman Sam Johnson, Mayor Bill Whitfield, Bill Dowdy, and McKinney veteran and author R.D. Foster.

For additional information about this new park and drawings of what it will look like visit http://www.ccfreedomfighters.com/mckinney%20veterans_memorial.htm.

Facts about the $7,500 Home Ownership Tax Credit

What You Need to Know About the $7,500 Home Ownership Tax Credit--

When you combine the tax credit with today’s low interest rates, wide selection of inventory, and affordable home prices, many of the pieces are in place for you to buy now.

Here are 6 things you should know about the $7,500 how ownership tax credit:

1. Buyers have until July 2009 to make a purchase that qualifies.
The tax credit was passed in July of this year as part of the Housing and Economic Recovery Act (H.R. 3221). It’s worth up to $7,500 and can be taken in a single tax year. Authorization for the credit ends July 1, 2009.

2. Buyers don't really have to be "first-timers."
The tax credit is actually available to any individual or household that hasn’t owned a home for at least three years.

3. Even if buyers exceed the income limit, they can benefit from the credit.
The actual credit amount is set as a percentage of the home purchase amount. That percentage amount is 10 percent, so your customers can get 10 percent of the home price credited against their tax liability, up to a maximum $7,500. Sounds like a great deal. But what if you make more money than the income limit of $75,000 for individuals and $150,000 for households? Good news: Individuals whose income exceeds the $75,000 limit but don't make more than $95,000 can still take the credit but on a reduced basis. The same thing applies to households earning up to $170,000. By the way, any house is eligible as long as it’s a primary residence and is in the United States.

4. Think of it as an interest-free loan.
The federal government requires the tax credit to be paid back in small, 6.67-percent increments over 15 years, although repayment will be no more than $500 yearly and payments will not start until 2011. For that reason, some analysts have likened the credit to a 15-year, interest-free loan to help make home buying affordable.

5. You don't have to be authorized before making a home purchase.
There is no pre-purchase authorization, application, or other approval process. Eligible buyers simply have to claim the credit on their IRS Form 1040 tax return and/or any form that the IRS might devise.

6. New-home construction qualifies.
For a home that a buyer constructs, the purchase date is the first date the buyer occupies the home.However, any home that is not a primary residence, such as a vacation home or income property, does not qualify.

If you would like additional information feel free to contact Donna@donnabthomas.com.

Dallas Real Estate is Still a Good Investment

Dallas-Fort Worth still most stable area for home prices

Although North Texas home prices fell 2.7 percent between August 2007 and August 2008, it is still the nation’s most stable area, according to figures released Tuesday by the S&P/Case-Shiller home price indices.

Prices in the 20 metro areas surveyed nationwide fell an average of 16.6 percent.
"The real difference between D-FW and the rest of the country are the levels of inventory," said Ted Wilson, partner at Residential Strategies, a Dallas-based housing tracking service. Existing and new inventories are not as out of tandem with demand as in other areas of the country, he said.

The steepest declines from a year ago were seen in Phoenix (minus 30.7 percent) and Las Vegas (minus 30.6 percent).

"The downturn in re- sidential real estate prices continued, with very few bright spots in the data," David Blitzer, chair- man of the index commit- tee at Standard & Poor’s, said in a statement. He noted that it’s the fifth month in a row for negative annual returns.
Talk of recession, turbulence on Wall Street and the uncertainty of the election season are all contributing to buyers’ wait-and-see attitude, Wilson said.
"We’re hopeful that next spring, we’ll see a renewed interest in the market," he said.
Housing prices North Texas fared better in home prices than all other metro areas between August 2007 and August 2008. But all 20 metro areas surveyed in the S&P/Case Shiller home price indices posted a decline in prices.

The Fed Rate Cut: What does it mean to you?

The Federal Reserve has cut interest rates by 50 basis points yesterday.
What does this mean to you and your family? Here is a quick guide of what to expect.

Mortgages:
Fixed-rate mortgages usually do not change in response to cuts in the federal funds rate. However, adjustable-rate mortgages may be more sensitive to Federal Reserve rate decisions. Depending on the exact nature of their mortgage, some people with ARMs may see their rate adjust downward the next time the mortgage resets. It's impossible to know when -- or even if -- fixed-rate mortgages will fall given the Fed's most recent trim to the federal funds rate.

Home Equity:
The Federal Reserve's decision to cut rates by a half-point eventually will mean lower borrowing costs for homeowners who have a home equity line of credit. The Federal Reserve's latest interest rate cut means you can expect HELOC rates to fall soon. It may take one or two billing cycles before you see the benefits.

Auto Loans:
The key to getting the best possible auto loan in today's market, as it has been for months now, is to bring a sterling credit score with a sizable down payment. The rate cut likely will not translate into a savings bonanza for car buyers. Rates are likely to vary depending on the lender as well as your credit score and down payment.

CDs & MMAs:
Certificate of deposit rates compete with other fixed-income options of like duration -- namely Treasuries. Longer-term CDs, just as with longer-term Treasuries, often move in advance of the Federal Open Market Committee, if economic conditions are such that a rate change is expected. It will take time for all of the measures the Treasury and the Federal Reserve have put in place to do some noticeable good.

Credit Cards:
Variable-rate cardholders eligible to receive a rate cut should receive it within three billing cycles.

Legends of McKinney Ghost Walk

Saturday, October 25, 2008

6:00 PM - 10:00 PM

Legends of McKinney Ghost Walk
The Legends of McKinney Ghost Walk will begin at the North Texas History Center, circle the downtown square and end at Chestnut Square Historic Village. This self-guided tour will provide story tellers along the way to share the legendary stories of McKinney. Ghost sightings are not guaranteed, but a night of spooky fun is!

1 Ticket: $10 2 Tickets: $15Children under 18 free when accompanied by a paying adult.

To purchase tickets go to: http://www.chestnutsquare.org/programs/mckinney-ghost-tour.asp

Early Voting Begins Today!

It is time to Vote!

Starting today you can get out there and vote. Click on the link below for the full schedule of times and locations.

It's so easy to exercise your right - don't miss out on your opportunity to be heard!http://www.co.collin.tx.us/elections/election_information/2008/110408/EV110408.html

Roundup on the Range - This Saturday!

Thousands of visitors clad in their cowboy hats and boots will flock to McKinney, Texas on Saturday, October 18, 2008 to experience an unforgettable day of family fun at the third annual Roundup on the Range fundraiser for Volunteer McKinney Center. Dedicated to presenting and preserving the traditions of the Old West, McKinney will once again play host to authentic chuckwagon contestants, western musicians, artisans and equestrian demonstrations. This action-packed, family-oriented event will feature Friends of Skidboot, the world-renowned show dogs and Robert Liner, the acclaimed horse trainer/entertainer appearing annually at the Texas State Fair, Quebe Sisters Band, Native American Pow Wow, as well as a myriad of family activities that will appeal to cowboys and cowgirls of all ages.

For additional information, please contact us at info@roundupontherange.com or call 972.542.0679.

Fall Planting Guide

One of the great things about living in Texas is the array of blooming flowers we can grow hear year round.

October is an excellent time to plant the following flowers:

Color— Pansies, Ornamental Kale, Snapdragons, Alyssum, Dianthus and Mums.

Perennials— Plant now!

Bulbs— Daffodils and Grape Hyacinths
(Hold tulip bulbs in the refrigerator until later in December.)

Wildflower Seeds—Plant now!

Shrubs and Trees— Good time to plant but be sure they get plenty of water.

Excellent resources —

www. ShadesofGreenInc.com
www.Calloways.com, Neil Sperry

Happy Planting!

Happy Columbus Day!

Ask almost any American elementary student why the Country celebrates Columbus Day and they will immediately recite “In fourteen hundred and ninety-two, Columbus sailed the ocean blue.” Historically, this is true. Christopher Columbus did set sail in 1492 in order to discover new lands for the King Ferdinand and Queen Isabella of Spain. The sailing party consisted of three ships: the Pinta, the Nina, and the Santa Maria. Columbus had sailed to far away lands before including Guinea and Iceland. In this trip, it was the aspiration of Columbus to discover the East Indies. When Columbus spotted the new lands, Columbus thought that he had, in fact, reached the East Indies; which are a group of islands located off of the coast of Southeast Asia. Instead, Columbus had came ashore in the Bahamas, and later Cuba and Hispaniola (now known as Haiti); all of which are off of the coast of the Americas – a long way from his original target.

However, as a direct result of Columbus’ attempt to discover the East Indies, scholars were able to gain a better understanding of just how large the Earth really was. Additionally, Europe and Spain became exposed to the Americas which resulted in trade opportunities and colonization of the new world – opportunities that still act like a beacon that draws people from all over the world to the Americas today.

North Texas Market Update

Market Update

As we sat and watched while home prices were doubling in many areas throughout the country, comments were varied about the local market appreciating nominally when compared to the country. The comments were not without anguish either. The PMI Group, a California-based insurer ranks cities across the US relative to the decline in home prices and Texas ranked better than anywhere in the country.

The Dallas market per their report has less than a 1% chance of having lower home prices in two years. The Texas economy is still strong gaining almost 252,000 in the past 12 months, with 6,700 jobs in the past month versus the U.S. economy losing 84,000 jobs during the same time period. Homes in our area are taking a little longer to sell, but the homes that are professionally stage, priced realistically and marketed well are still selling. Credit is available with rates being near record low.

If you would like more information and the latest figure on the real estate market feel free to email me at donna@donnabthomas.com.

Rates Still Favorable

STATE OF THE INDUSTRY

With all the financial turmoil hitting the stock and bond markets much is still unknown concerning the future of the US economy.What we do know is the Federal Government has recently taken unprecedented steps to shore the economy and back many historically private institutions. The Securities and Exchange Commission implemented strict trading rules prohibiting short selling of financial stocks. Money market accounts, historically considered safe investments, got caught in the financial turmoil of the Lehman Brothers bankruptcy. As a result, the Treasury created a temporary insurance system for the funds. Regulators indicated this was done to prevent a banking system collapse.

Fannie Mae and Freddie Mac were taken over by the US Treasury. This effectively guaranteed the performance of the Fannie and Freddie instruments with the backing of the US Federal Government. Federal Housing Finance Agency Director James B. Lockhart indicated that not acting, “would have been disastrous for the mortgage markets, as mortgage rates would have continued to move higher and, in turn, disastrous for the enterprises as the prices of their securities would have fallen and credit losses increased.” He noted the goal of the takeover was "to help restore confidence in Fannie Mae and Freddie Mac, enhance their capacity to fulfill their mission, reduce the systemic risk and make more mortgages available at a lower cost to the American people.” While lending guidelines have tightened and mortgage rates remain volatile, the good news is rates remain historically favorable.

Only Two Weeks Left to Register to Vote!

Registering to vote is easy in Texas. It doesn't even require a stamp! Official applications to register to vote are postage-paid by the State of Texas.

You may obtain an application from the county Voter Registrar's office, the Secretary of State's Office, libraries, many post offices, or high schools.

You can also go to the website: http://www.sos.state.tx.us/elections/pamphlets/largepamp.shtml and download an informal application, but you will be required to affix a stamp before mailing.

The application must be received in the Voter Registrar's office or postmarked 30 days before an election in order for you to be eligible to vote in that election.

Remember, voting is a right that everyone should exercise!

Anatomy of a Hot-Air Balloon

With the upcoming Plano Hot Air Balloon Festival this weekend some of you may be wondering what exactly is a hot air balloon.

Basically, the hot air balloon consists of three parts: envelope, basket, and burner system. It's a fairly simple piece of equipment, and for what it delivers, it is something of a bargain.

If you look at what is available in flying machines, for instance, you may be surprised to find that ballooning is less than half as expensive as the next class of aircraft, the sailplane.

Some recent studies have shown that the average price of a new hot air balloon system is about $9,000, but that of a sailplane is $22,000. A piston-driven single-engine airplane with fixed landing gear averages over $31,000, while the same type of plane with retractable gear costs over $64,000. Multi-engine airplanes are three times this price, and helicopters are eight times this price. Turbo-engine aircraft range in the millions.

But relatively inexpensive as it is, the hot air balloon is a carefully conceived and crafted flying machine.

EDS Credit Union Plano Balloon Festival September 19, 20, & 21, 2008

JOIN US FOR THE FASCINATION OF BALLOONS GRACEFULLY FLOATING ACROSS THE TEXAS SKY...

See it…as thousands of smiling faces are awestruck by the vision of hot air balloons filling the sky with LOFTY VISIONS of colors and shapes.

Hear it…Friday and Saturday evening as the roar of burners being ignited adds to the thrill of seeing special shapes and colorful balloons set against the back drop of the dark night sky. The balloon glow is a MUST see!

Feel it… as an overwhelming sense of delight spreads over you when 80,000+ attendees experience the wonders of the EDS Credit Union Plano Balloon Festival September 19, 20, & 21, 2008.

http://www.planoballoonfest.org/schedule.html

Festival Location:
Oak Point Park
2801 E. Spring Creek Parkway
Plano, Texas 75074

Dr. Seuss for President

The Oh My Godard Gallery at the Willow Bend Mall is hosting the exhibit “Dr. Seuss for President” featuring the political artwork of Dr. Seuss. Below one of the pieces is the quote “the politics of Dr. Seuss reveals his desire to advocate social change and to teach generations of children not only how to be better readers, but better people as well.”

This is a great opportunity to share an art gallery experience with the entire family.

For more information on the “Dr. Seuss for President” exhibit or about the Oh my Godard Gallery, visit www.ohmygodarddfw.com.

Market Improves

Don't blink ... you will miss something in the mortgage world that may impact your day to day business. Last Friday, after the markets closed and most folks were on their way home, the federal government announced they were in effect taking over FNMA and FHLMC (Fannie Mae and Freddie Mac). These are the entities that set many of the guidelines for the conventional home financing. While the impact of this change will shake out over the coming weeks and months, the short term impact is investors are more comfortable. Thus, interest rates improved, at least in the short term.

Now may be the time to consider real estate as part of your investment portfolio. If you would like more information feel free to contact me today donna@donnabthomas.com or call 214-629-7586.

Grocery Shopping Tips

Grocery Shopping Tips

With food prices still soaring, supermarkets are offering many deals and specials to lure in food shoppers. But sometimes, these good deals can actually cause people to spend more than they would have otherwise. Phil Lempert, author of Being the Shopper: Understanding the Buyer's Choice, offers these smart-shopping tips:

Limit Four Per Person: Scarcity can have a powerful impact on shoppers. A buying restriction can tempt people to buy more than they need, which could cause items to either spoil or sit in your pantry for a long time. Tip: In the long run, when you factor in the amount of products that spoil or are eventually thrown away, you will usually be better off financially if you only buy the amount you reasonably need and can use.

End of Aisle or Freestanding Displays: Often the "specials" displayed on the end caps of each aisle or on an island display aren't really the best deals that the store currently offers. These displays may also lead to impulse buys that you weren't intending to make. For instance, a display with graham crackers, chocolate, and marshmallows could make you think, "I'll make s'mores for dessert." Tip: While the location of these items is convenient, especially during busy shopping hours, you should only buy these items if they really are good deals.

Buy One, Get One Free: While these deals can make you feel like you are getting something for half price, if the cost is more than that of a similar item...or if you don't need a large quantity...than this may be one special worth passing on. Tip: Ask the manager if you can buy one item for half the price instead of buy one get one free. While stores don't always advertise this alternative, they often allow it.

Pre-Sliced Produce: While pre-sliced produce can feel like an easy choice, it can cost twice as much as whole produce, and can spoil faster than whole produce. Tip: Pay extra for prepared meals and produce only if the time and effort they save you is significant and really worth it.

For more great grocery shopping tips, visit http://www.supermarketguru.com/.

Words to Live By

When you are looking at the characteristics on how to build your personal life, , first comes integrity; 2nd motivation, 3rd capacity;4th understanding; 5th knowledge and last and least experience.

Without integrity, motivation is dangerous; without motivation, capacity is impotent; without capacity, understanding is limited; without understanding, knowledge is meaningless; without knowledge, experience is blind. Experience is easy to provide and quickly put to good use by people with all other qualities.

Make absolute integrity the compass that guides you in everything you do. And surround yourself only with people of flawless integrity.

Karl Eller
April 1999
Eller college of Management
University of Arizona

Thank you to all my neighbors in Tanglewood

Having the pleasure of keeping our neighborhood, Tanglewood in Stonebridge, updated on all the happenings we also try and come up with ideas that will benefit those around us. At various times in everyone’s life a little or a lot of help can go a very long way. Fortunately our neighborhood stepped up again by providing numerous school supplies which were delivered to Collin County Advocacy Center.

As one of our neighbors said, “We do live in the best neighborhood".Thanks for making a difference Tanglewood in the lives of Collin County Children.

Polished

We are all about serving our clients by selling their houses as well as finding them new ones, but occasionally we do get out of the office. That happened to me Tuesday when I attended an event to benefit the Collin County Advocacy Center. Polished, located minutes from the Willow Bend Mall on Park and Tollway exchange, sponsored an event for the Center. Since I am serving on the Gala Committee this year I made arrangements to attend. What an incredible experience. Greeted at the front door by a gracious and hospitable group of employees I was asked to pick out a polish, which by the way are blended just for Polish and once polished you are given a small bottle of the color to take home for those inevitable chips and dents. Seated in soft leather chairs the professionals began to work their magic using intoxicating scrubs and lotions for the hands and feet, as well as a hot stone massage. Feeling surely, I slipped from a usual workday into a mini-vacation as I indulged in the relaxation being offered. Just when you thought your indulgences had been met, we were offered cookies from a wonderful bakery, Tart Pastry Boutique and Studio, along with the latest fashions do's and don'ts. The day was topped off with good conversation and the knowledge of knowing our participation helped out an extremely worthwhile organization. Remember to visit their web-site, www.polished or call them at 972-378-9149.
Definitely worth returning to again and again

Home sells for 750 Million

A mysterious Russian billionaire has trumped his big-spending rivals and broken a world record by splashing out $750 million on one of the most sumptuous villas on the French Riviera.

Although not nearly as extravagant, we have had our share of multi million dollar listings right here in North Texas. Considering that the average price for a family home in the DFW area is $238,000 it is amazing the number of 1+ million dollar homes that have sold throughout Dallas and its suburbs. There are several subdivisions where the million dollar home is the norm, not the exception. In the past few years Dallas has had several sales in the 12+ million dollar range and and both McKinney and Plano have had homes that have sold for 5+ million.

Currently the most expensive home listed for sale in the Metroplex is in Dallas and is offered at 17,500,000.

If you would like more information please feel free to email donna@donnabthomas.com for a full report of sales and active listings in the DFW area.

It's time to give back...

Recently I have been amused by the discussions of going green and saving. I came from older parents who had lived through WWII and they were raised by parents that had survived the Great Depression. My mother was an incredible seamstress and I remember her talking about the shortage of fabrics and how they would take flour sacks to make dresses out of or cut down dresses to make new ones. As a teenager I thought it ridiculous when my dad sent me back to my room to turn off the light to conserve electricity. I was embarrassed by his desire to put metal containers out when it rained to collect the water for the yard and plants and his habit of saving foil and wrapping paper for later use.

Another great lesson came to me from this though, we all helped each other. If there were someone in the neighborhood, school, town that was having a hard time making ends meet everyone chipped in. Guess it was the advantage of living in small town East Texas.

Today, we are faced with some of the same issues and families are learning to save all over again. They are challenged with sending children back to school and along with everything else - supplies are rising in cost dramatically. To help this, we are sponsoring a School Supply Drive with drop off points at t two properties addresses. We will be distributing to the various organizations throughout Collin County that are in need of supplies.

School Supply Wish List
• Accordion Files • Baby wipes
• Backpacks (for under 7) Binders (2” and 3”)
• Binders with Zippers Book Covers
• Calculators • Colored Pencils
• Manila Construction Paper • English Dictionary
• Spanish/English Dictionary • French/English Dictionary
• Dividers • Dry Erase Markers
• Erasable Pens • Erasers
• Plain Folders with Brads • Glue/Glue Sticks
• Graph Paper • Highlighters
• Kleenex • Lunch Bags
• Black and white Composition Books • Markers
• Handwriting Tablets • Non-spiral Notebooks
• 3 & 5 Subject Spirals • Note Cards
• Paper Plates/Towels • Pencils
• Red Pencils • Pens (Black/Blue/Red)
• Sharpies (Black) • Large Scissors (7”+)
• Watercolors • White Out

Two days, two locations:
Saturday, August 9th, 2:00 – 4:00 Sunday, August 10th, 2:00 – 4:00
6404 Oak Hollow Lane, McKinney, TX 5000 Castle Creek, Plano, TX