Question: How do you define happiness and what about your life makes you most happy? When you make good on an investment, do you allow yourself to enjoy that success by getting excited - and on the flip-side, when an investment turns down, do you find yourself equally disappointed - or do you try to remove emotion from your work, as much as  possible?

Answer:  “I enjoy what I do, I tap dance to work every day. I work with people I love, doing what I love. I spend my time thinking about the future, not the past. The future is exciting. As Bertrand Russell says, “Success is getting what you want, happiness is wanting what you get.” I won the ovarian lottery the day I was born and so did all of you. We’re all successful, intelligent, and educated. To focus on what you don’t have is a terrible mistake. With the gifts all of us have, if you are unhappy, it’s your own fault. 

Read the rest of his response

If you aren't familiar with what a home warranty company does, they basically provide coverage to the home buyer for the first year of the home purchase to make sure that if anything goes wrong the buyer is insured against major repairs.  The more technical name is a residential services contract. 

As a buyer, if you never have to contact the home warranty service, you are in luck because that means that nothing substantial occurred with the house.  But, like all other warranties and insurance, the residential services contract is in place in case something happens. 

To make a long story short, this client of mine has had two negative experiences with the service that was provided during two claims she has had to make recently.  It turns out that companies (one plumber, one A/C) that were contracted to do the work through the home warranty company both turned out to be less than professional and very unhelpful to say the least.  To the point where my client recommended that I never refer future clients to this home warranty company.   That's a strong statement. 

Knowing this home warranty company well and the way that they do business, I made sure to give my account representative a call immediately to discuss the issues.   I gave him the names of the two companies that did (or did not really) do the work.  As I expected, he was very apologetic and promised to call my client directly to apologize and do what he could to make it up to her.  He said that he will make sure to take both companies off of their list so that nothing like this happens again.  While, I feel this was an isolated incident, it doesn't make me feel any less frustrated for my client. 

The main lesson to be learned through this experience is that your reputation is only as good as the people you associate with, or in this case the service providers that your company uses.   You have to be extra careful who you affiliate yourself with because not only is their reputation on the line, but yours is as well.  

RISMEDIA -- A government audit has found that thousands of taxpayers have fraudulently claimed the first-time home buyers' credit, and the Internal Revenue Service apparently missed them all.

The fraudulent claims — some from prison inmates serving life sentences — totaled about $134 million, according to the Treasury Inspector General for Tax Administration.

Some of the "questionable claims" for refunds were made by 87 IRS employees nationwide, according to Michael R. Phillips, the deputy inspector general for audit.

There were three sets of tax credits. The first, approved in July 2008, was an interest-free loan that offered $7,500 to qualified first-time buyers that would be then repaid to the Treasury in $500 increments over 15 years.  The second, a maximum of $8,000 for first-timers, didn't need to be repaid, was approved in February 2009 and expired Nov. 30, 2009.

On Nov. 5, the tax credit was extended, and a maximum $6,500 added for qualified buyers who had not purchased a primary residence in five years or more.

All told, the "working estimate" of new and existing sales qualifying for all the credits is 4.4 million, National Association of Realtors spokesman Walt Molony said.

Fraudulent claims filed by 1,295 prison inmates added up to about $9.1 million on 2008 returns. Florida prisons generated the highest number of claims — 61 percent of prisoners serving life sentences who received the credit were incarcerated there.

Among filers loose on the streets, 256 used the same five addresses for their claims. In fact, 18,832 filers used just 7,695 addresses to claim a total of $134 million in refunds.

Of the 18,832 filings, 5,331 were filed by 1,941 paid preparers, the audit found.  About 2,500 taxpayers erroneously received a total $17.6 million in credits for houses they bought before the tax credit took effect, the audit found.

The growth of the Austin economy will continue to outpace the rest of the nation over the next year, according to a forecast from one Texas economist.  Mark Dotzour, chief economist at Texas A&M University's Real Estate Center, predicts that the U.S. economy will slow in coming months--in part the result of forces such as increased global construction costs and the rising price of oil. But Austin is likely to add 20,800 new jobs over the next 12 months, a 2.9 percent increase in employment that will significantly outpace national job growth, he says.  Read the article: Austin will add 20,800 jobs in the next 12 months.

Real estate seller Trulia, Inc. reported 24 percent of its Austin listings reduced prices in June, which is down from 30 percent the same month in 2009. Austin was among metros with the best improvement in price depreciation, with 20 percent fewer homesellers cutting their listing price. The report compiled data from about 9,280 listings. Sellers reduced prices an average 7 percent, shaving off a total $73.2 million.  Read the article: 24% Austin home listings lowered price in June.

The survey found rates on 30-year fixed-rate mortgages averaged 4.75 percent for the week ending June 17, with an average of 0.7 point. That's up slightly from last week, when 30-year fixed-rate loans averaged 4.72 percent, but down from 5.38 percent a year ago.

The all-time record low for 30-year fixed-rate loans in records dating back to 1971 was set during the week of Dec. 3, when the rates averaged 4.71 percent.

Rates surveyed by Freddie Mac are for prime borrowers taking out loans with 20 percent downpayments. Borrowers taking out loans too large or risky for purchase or guarantee by Freddie Mac can expect to pay more.

Recent turmoil in financial markets has made the mortgage-backed securities that are the ultimate source of funding for most home loans popular with investors, helping keep rates charged to borrowers low.

** But the Mortgage Bankers Association is forecasting that rates on 30-year fixed-rate mortgages will gradually rise to 5.4 percent during the fourth quarter of this year, reach 6 percent in the last three months of 2011, and average 6.6 percent in the fourth quarter of 2012.

RISMEDIA, June 16, 2010--(MCT)--For many homeowners, electricity use is highest during the summer — that means steeper energy bills are just around the corner.

But a lot of the energy you're paying for is squandered through air leaks around doors and windows, or through cable boxes and appliances that sap energy when no one is around. Before you shell out the cash for a professional home-energy audit, however, here are some do-it-yourself ways to measure — and then curb — your energy use. 

MEASURE IT
The average household will spend about $2,140 on residential energy consumption in 2010, according to the Washington-based Alliance to Save Energy. What's running up that bill? A home power monitor is one way to find out, said Tom Simchak, a research associate at the Alliance to Save Energy.

CURB IT — AND SAVE
Whether or not you decide to shell out for energy measurement devices, you can save money on your utility bill with some simple steps to reduce your home's energy use.

A smart strip, for instance, eliminates vampire energy — the energy devices consume when they're switched off. Smart strips, which retail for about $30, plug into the wall and also work as surge protectors. The strip's sensor cuts the power to devices plugged into it when they're switched off.

LITTLE THINGS HELP
Some other low-cost or free energy-saving moves:

• Put thicker curtains around windows in summer (including in an unfinished attic) to keep out the sun.
• Regularly dust off the coils under your refrigerator so it doesn't have to work as hard to stay cool.
• Install low-flow faucets (with an aerator so the water doesn't just trickle out).
• Replace incandescent light bulbs with more-efficient fluorescent or LED ones.
• Consider checking out Microsoft-Hohm.com. The website details the average energy use of homes nationwide.

Simchak said these energy-saving steps don't require technical know-how. "I haven't done anything a normal person can't do," he said. "It takes a little time and effort. But with all these products available, regular folks can do them just fine."

Read the Entire Article:  Simple Tools to Do a Home Energy Audit and Save.

We thought the worst was over but it seems like every month there is some new federal guideline tied to final mortgage approval; an extra hoop to jump through.  First it was full disclosure on the good faith estimate, then it was raising FHA fees and now its extensive credit checks.  Its probably going to get worse before it gets better. 

The most recent change to Fannie Mae's guidelines called the "Loan Quality Initiative" calls for credit checks on the buyer(s) up to the day of closing.  Who can blame them.  Recent history indicates that everyone involved in a real estate transaction needs to go the extra mile to assure that there is no funny business going on. 

This is not necessarily a new practice.  Most lenders have been following this practice for some time now.  That is why it is imperative for a buyer not to do anything between the preliminary loan approval stage and the final "clear to close" stage that would negatively effect debt to income ratios. 

This means waiting to buy a new car, not putting new furniture purchases for the new house on credit and not even using existing credit on credit cards that have high limits.  Anything that alters the balance of the amount of debt that you carry compared to the income you generate can be a red flag for the lender, delay closing.  

Smart Money (Wall Street Journal) published a very good article that explains the entire procedure. 

One thing I found interesting in this article is the part that states that lenders are going to be extra diligent to confirm the occupancy plans for the property.  That is not something that we have seen in the past and I haven't seen it yet at a recent closing but it does have the opportunity to effect a number of closings.  Sometimes plans change during the escrow process and it looks like that could be a recipe for added chaos. 

A word for the wise: just keep everything status quo until the loan funds and the transaction closes. 

When Kristin and I moved into our new house over two years ago, we had to work fervently to bring the lawn up to speed.  Lots of bags of dirt, mulch etc. . . . If the high temperatures weren't enough, we were dealing with hap-haphazardly laid sod by the builder's landscaper.  I have since found everything from large pieces of brick to huge metal rods in the dirt our yard was built upon (another story, different day).  However, after two springs and summers and a lot of sweat equity, we were able to turn the yard into a very nice looking spread. We take pride in the appearance of our landscaping.

This Spring due to crazy temperature fluctuations including actual snow accumulation, a portion of our grass decided to call it quits.  About a fourth of our backyard (the area that has struggled since day one) did not come back this year.  

Having faith that it would eventually turn around, I gave it a few months to make some progress until finally giving into the realization that it wasn't happening.  I recently removed all of the dead grass and spread new dirt in preparation for laying some new sod (whenever I get around to it).  It looks better and some of the areas have responded and started to grow again.  But, I'm having to deal with something that I haven't had to worry about in the past - persistent weeds.  When the grass isn't healthy they seem to take over and can be unrelenting.   

I recently came across a great website with all kinds of articles about lawn care and maintenance.  From How to Have a Weed Free Lawn to the cause of Brown Spots to Summer Lawn Care tips, it is full of good information.