5402 Falmouth Rent this 3bed/3bath for $2500/mo OR Buy it for only $399,000!
Gorgeous hardwoods, SS appliances, deck off dining room & master, walk-in closets, granite countertops, FP, 2 car garage, well behaved pets okay.
Wednesday, October 8, 2008
Home for sale in Fairway: 5402 Falmouth
5402 Falmouth Rent this 3bed/3bath for $2500/mo OR Buy it for only $399,000!
Gorgeous hardwoods, SS appliances, deck off dining room & master, walk-in closets, granite countertops, FP, 2 car garage, well behaved pets okay.
Wednesday, October 1, 2008
Cure For Our Financial Crisis
During the last few days I have been party to many different conversations about our financial predicament. Personally, I don't want my tax dollars to be used without thought although I do see the logic of a government bail out. This evening I received the following proposal by Dave Ramsey via a friend and fellow realtor. This proposal is very close to the conclusions that many of us have been coming to in our discussions.
The Common Sense Fix
Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following three-step Common Sense Plan.
I. INSURANCE
a. Insure the subprime bonds/mortgages with an underlying FHA-type insurance. Government-insured and backed loans would have an instant market all over the world, creating immediate and needed liquidity.
b. In order for a company to accept the government-backed insurance, they must do two things:
1.Rewrite any mortgage that is more than 3 months delilnquent to a 6% fixed rate mortgage.
a. Roll all back payments wiith no late fees or legal costs into the balance. This brings homeowners current and allows them a chance to keep their homes.
b. Cancel all prepayment penalties to encourage refinancing or the sale of the property to pay off the bad loan. In the event of foreclosure or short sale, the borroweer will not be held liable for any deficit balance. FHA does this now, and that encourages mortgage companies to go the extra mile while working with the borrower - again limiting foreclosures and ruined lives.
2. Cancel ALL Golden Parachutes of existing and future CEO's and executive team members as long as the company holds these government-insured bonds/mortgages. THis keep underperforming executives from being paid when they don't do their jobs.
**This backstop will cost less than $50 billion - a small fraction of the current proposal.
II. MARK TO MARKET
a. Remove mark to market accounting rules for two years on only subpriime Tier III bonds/mortgages. This keeps companies from being forced to artificially mark down bonds/mortgages below the value of the underlying mortgages and real estate.
b. This move creates patience in the market and has an immediate stabilizing effect on failing and ailing banks - and it cost the taxpayer nothing.
III. CAPITAL GAINS TAX
a. Remove the capital gains tax completely. INvestors will flood the real estate and stock market in search of tax-free profits, creating tremendous - and immediate - liquidity in the markets. Again, this costs the taxpayer nothing.
b. This move will be seen as a lighning rod politically because many will say it is helping the rich. The truth is the rich will benefit, but it will be their money that stimulates the economy. This will enable all Americans to have more stable jobs and retirement investments that go up instead of down.
--I think Dave Ramsey covers most of what I've been talking about with others the last few days; what do you think?
The Common Sense Fix
Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following three-step Common Sense Plan.
I. INSURANCE
a. Insure the subprime bonds/mortgages with an underlying FHA-type insurance. Government-insured and backed loans would have an instant market all over the world, creating immediate and needed liquidity.
b. In order for a company to accept the government-backed insurance, they must do two things:
1.Rewrite any mortgage that is more than 3 months delilnquent to a 6% fixed rate mortgage.
a. Roll all back payments wiith no late fees or legal costs into the balance. This brings homeowners current and allows them a chance to keep their homes.
b. Cancel all prepayment penalties to encourage refinancing or the sale of the property to pay off the bad loan. In the event of foreclosure or short sale, the borroweer will not be held liable for any deficit balance. FHA does this now, and that encourages mortgage companies to go the extra mile while working with the borrower - again limiting foreclosures and ruined lives.
2. Cancel ALL Golden Parachutes of existing and future CEO's and executive team members as long as the company holds these government-insured bonds/mortgages. THis keep underperforming executives from being paid when they don't do their jobs.
**This backstop will cost less than $50 billion - a small fraction of the current proposal.
II. MARK TO MARKET
a. Remove mark to market accounting rules for two years on only subpriime Tier III bonds/mortgages. This keeps companies from being forced to artificially mark down bonds/mortgages below the value of the underlying mortgages and real estate.
b. This move creates patience in the market and has an immediate stabilizing effect on failing and ailing banks - and it cost the taxpayer nothing.
III. CAPITAL GAINS TAX
a. Remove the capital gains tax completely. INvestors will flood the real estate and stock market in search of tax-free profits, creating tremendous - and immediate - liquidity in the markets. Again, this costs the taxpayer nothing.
b. This move will be seen as a lighning rod politically because many will say it is helping the rich. The truth is the rich will benefit, but it will be their money that stimulates the economy. This will enable all Americans to have more stable jobs and retirement investments that go up instead of down.
--I think Dave Ramsey covers most of what I've been talking about with others the last few days; what do you think?
Saturday, September 27, 2008
Great house in Coleman Highlands!
# 1497981 928 W 34th St $359,000
Built in 1915, this home in Coleman Highlands will WOW you!
Stunning woodwork...historic home totally renovated with style. New open eat in kitchen w island and granite counters. Back yard is an urban oasis w watergarden, great front, porch pvt drive . This gem has been polished!
Sunday, September 21, 2008
Open 2-4
5402 Falmouth MLS # 1410419 $400,000
Sophisticated home for the active professional person or couple, completely gutted and remodeled from top to bottom. Remodel was designed by award-winning architect Bruce Wendlandt to meet the needs of the most selective buyers. Open, light, spacious floor plan allows this home to custom fit the lifestyle
Directions: SM Parkway to Falmouth (Falmouth is two blocks East of Mission) North to address
Friday, September 19, 2008
Waldo Falldo
The annual Waldo Fall Festival is this weekend. Saturday Sept. 20.
at 75th & Wornall. The Pub Crawl starts at 6pm.
Schedule of Events:
7am - 11am Pancake Breakfast at Broadway Methodist Church, 406 W 74th
Main Stage
10 - 10:30am Opening w/Waldo Mayor Presentation
10:30 - 11:30am Dino O'Dell
11:30 - Noon Junior the Clown
Noon - 12:30pm KC Academy
12:30 - 1pm United Studios of Self Defense Presentation
1 - 1:45 UMKC Ensemble
1:45 - 2:45pm St. Elizabeth Band
2:45 - 3pm Tap-A-Thon Registration & Practice
3 - 3:30pm Tap-A-Thon Performance
3:30 - 5pm The Nortons
All Day - Leawood United Studios of Self Defense
Other Areas
MAST, the Police Race Car, Fire Truck, Climbing Wall,
Adrenaline Rush, Spaceship Slide, Tubs of Fun,
Wayside Waifs (10am-2pm)
Face Painting w/Junior the Clown,
KCP&L bucket truck and mascots from T-Bones and
KC Wolf will also be at the Waldo Fall Festival.
More than 50 booths and vendors will be under
the Big Tent. Come and enjoy!
PUB CRAWL STOPS:
Waldo Pizza
Murphy's
Tasso's
Bobby Baker's
Tanner's
Kennedy's
Waldo Bar & Grill
75th Street Brewery
Lew's Grill & Bar
Patrick's
Santa Fe Hills is having their annual garage sale
south and east of 85th & Wornall.
at 75th & Wornall. The Pub Crawl starts at 6pm.
Schedule of Events:
7am - 11am Pancake Breakfast at Broadway Methodist Church, 406 W 74th
Main Stage
10 - 10:30am Opening w/Waldo Mayor Presentation
10:30 - 11:30am Dino O'Dell
11:30 - Noon Junior the Clown
Noon - 12:30pm KC Academy
12:30 - 1pm United Studios of Self Defense Presentation
1 - 1:45 UMKC Ensemble
1:45 - 2:45pm St. Elizabeth Band
2:45 - 3pm Tap-A-Thon Registration & Practice
3 - 3:30pm Tap-A-Thon Performance
3:30 - 5pm The Nortons
All Day - Leawood United Studios of Self Defense
Other Areas
MAST, the Police Race Car, Fire Truck, Climbing Wall,
Adrenaline Rush, Spaceship Slide, Tubs of Fun,
Wayside Waifs (10am-2pm)
Face Painting w/Junior the Clown,
KCP&L bucket truck and mascots from T-Bones and
KC Wolf will also be at the Waldo Fall Festival.
More than 50 booths and vendors will be under
the Big Tent. Come and enjoy!
PUB CRAWL STOPS:
Waldo Pizza
Murphy's
Tasso's
Bobby Baker's
Tanner's
Kennedy's
Waldo Bar & Grill
75th Street Brewery
Lew's Grill & Bar
Patrick's
Santa Fe Hills is having their annual garage sale
south and east of 85th & Wornall.
Changes
October 1st brings some changes you should know about.
These will affect new loans and those in process without an appraisal ordered. These changes effect down payment and total cost of the loan.
1) Upfront MIP premiums - 1.75% for all purchase borrowers.
2) Annual premiums - .55% for loans over 95%, 95% or less - 50%
3) Down payment - 3.5%. Closing costs may not be used to meet the minimum 3.5% down.
If an appraisal is ordered prior to the 10/1 change date, the old rules apply.
On or after that date the above will apply.
These will affect new loans and those in process without an appraisal ordered. These changes effect down payment and total cost of the loan.
1) Upfront MIP premiums - 1.75% for all purchase borrowers.
2) Annual premiums - .55% for loans over 95%, 95% or less - 50%
3) Down payment - 3.5%. Closing costs may not be used to meet the minimum 3.5% down.
If an appraisal is ordered prior to the 10/1 change date, the old rules apply.
On or after that date the above will apply.
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