Bridle Bit Custom Homes

Get Ready for Cooler Weather Now

2009-08-28T14:19:00.000-07:00

The drought’s ending – that’s an unofficial prediction but the signs are everywhere – and temperatures are beginning to fall. Okay, so we’re still in the 90s. But before you know it, we're going to feel the welcome touch of autumn. Now is a great time to start getting your home ready for cooler weather.

Here are some things to do now to prepare:

Fall cleanup

Turn over your mattress and wash your bedding, including comforters and blankets.
Get your carpets professionally cleaned.
Clean your windows, inside and out, including in between the sills. Many new windows have UV filters and aren't supposed to be cleaned with glass cleaners. Instead use water dampened microfiber towels.

Other deep-cleaning ideas for the fall from the web site organizedhome.com include:

Clean top to bottom, starting with public rooms such as the living room, family room, entryway and guest bath.
Vacuum drapes, window treatments, baseboards and in the corners. Move furniture and vacuum beneath and behind it. Vacuum upholstered furniture, or have professionally cleaned if needed. Pull the refrigerator away from the wall, and vacuum the condenser coils. For bottom-mounted coils, use a long, narrow brush to clean coils of dust and debris.

Home maintenance

Now is a great time to have your home’s air ducts cleaned, and if you have a fireplace, check the flue. Have the fireplace cleaned if it’s wood burning.

Here’s a must-do: clean the gutters! If they gutters get clogged, roof damage could result. Install gutter protectors, which will keep debris out.

Other home maintenance tasks for the fall include:

Examine the chimney for any damage.
Touch up paint on decks, trim and railings. Use a wire brush to remove flaking paint; prime bare wood first.
Inspect washing machine hoses for bulges, cracks or splits. Replace them every other year.
Check the dryer exhaust tube and vent for built-up lint, debris or birds' nests. Make sure the exterior vent door closes tightly when not in use.

Beware of bugs

Bugs and mice look for a warm place to stay in the winter, so now is the time to check for rotted, cracked or damaged wood around the house that can serve as an entryway for critters. Check the strip around the garage door, which is typically weathered at the bottom. It’s important to keep the wood on your home painted, sealed and caulked. Consider replacing wood trim with PVC material trim that requires no maintenance and can be painted.

Energy-saving fall ideas

Caulking around windows and doors, if you have an older home, will help seal the house, keeping chilly air and bugs out and heat in. All homeowners should check weather-stripping and door sweeps.

Other energy saving maintenance ideas for the fall include:

Install ceiling fans. With the blades tipped to push warm air down, ceiling fans save energy and money.
Check attic insulation and add more if necessary.
Replace windows for energy efficiency – they will pay for themselves in time and make your home more comfortable.
Have an energy audit done, which will tell you where heat is escaping your home and costing you money.

Enjoy the rest of the summer as you look forward to the cool, refreshing days of fall.

Tips for Planning to Purchase Your New Home

2009-07-27T10:24:00.000-07:00

There’s no question that with today’s low mortgage interest rates, large selection of homes on the market, competitive prices, and other incentives such as the $8,000 first-time home buyer federal tax credit, now is a great time to buy a home. But what if you are planning to buy a year or two from now, and you want to make sure you’re ready when the time comes?

One of the most important things you can do is get your credit report in shape. Banks use your credit history to decide whether they want to lend you money and to set the interest rate, so having a good credit report is vital.

Equifax, Experian, and TransUnion are the three consumer credit reporting companies that provide information about your credit history to lenders. Under the Fair Credit Reporting Act, each of these companies is required to give you one free copy of your credit report every 12 months if you ask for it.

You can request your free reports online at www.annualcreditreport.com, or by calling 1-877-322-8228. Since you won’t know which company your lender is using, you should get a copy from all three.

Carefully review the information on the reports. If you find a mistake, contact the reporting company and provide them with an explanation and copies of any documentation you have proving the error.

If there is an item that is accurate but might be viewed negatively by a lender, such as a series of late payments, you may be able to have a comment included on your report to explain it. You need to have a credible reason, such as an illness or other extraordinary circumstance, and be able to back it up with proof.

What if your credit report could use improvement?

Unfortunately there isn’t a quick fix, despite what some companies may claim. However, there are things you can do to help make your credit report more attractive to lenders, although it will take time:

Always pay your bills before the due date.
Make a payment every month, whether it is the full balance, the minimum due, or some amount in between.
Don’t open new accounts. Lenders look at the total amount of debt you could run up, based on the limits on your cards, as well as how much you actually have.
Don’t close old accounts. A few longstanding relationships are better than a bunch of cards you’ve only had a year or two, unless you have an excessive number of inactive accounts.
Pay down your total debt as much as you can. Lending standards have gotten much stricter, and banks are reluctant to loan money to people who already owe a lot.

Lenders use your credit history to predict the likelihood you will pay them back on time. Since you can’t change the past, it is important to always carefully manage your debt, whether you plan to buy a house in the next six months or not until six years from now.

For more information the $8,000 first-time home buyer federal tax credit, give us a call at 21-244-3635 or go to ww.federalhousingtaxcredit.com. You can also contact the Greater San Antonio Builders Association at www.sabuilders.com

Satisfied Clients

2009-06-29T10:43:00.000-07:00

We love to hear from our clients and recently received this letter from a couple whose house we built. They speak better for us than we can for ourselves -

Saturday, June 27, 2009

Fred and Jesse,

We wanted to take a minute to share with you how we feel about our new Bridle Bit home: WE LOVE IT! It is everything that we had hoped for and more; we look forward to many years in our beautiful new residence.

We also wanted to express our delight at the entire experience. When we set out to build a home, we heard from more than one source that the endeavor was sure to be a “nightmare”; acquaintances who had built homes did not hesitate to regale us with stories about builders and supervisors who would not return calls, shoddy workmanship on the part of work crews, and unbearably long delays in completion. We are pleased to say that we experienced none of these things—or anything else that was even slightly unpleasant—in our dealings with the two of you.

We so appreciate that you answered or returned all calls promptly; listened carefully to and followed through on our desires and ideas (and shared excellent ideas of your own); hired competent and reliable crews; finished our home in a remarkably short time; and, most of all, built our dream house at a price that we could afford! When we decided to build a home, we had expectations that we would have to make considerable compromises in order to come in at budget; even your assurances as we entered into the contract did not prepare us for the complete satisfaction that was to come; to our great surprise, you were able to find a way to put most everything that we hoped for into our home.

Since we have moved in, we have had a few of the minor problems encountered by any new homeowner. Again, you responded as soon as we called; most often, it was Jesse himself who took the time to run out and fix the ceiling fan or adjust the door—what service!

You are the kind of builder about whom every family setting out to build a new home dreams; you are straightforward, clear, and honest in your business dealings, and both of you are delightful to work with on a personal level. We cannot begin to express our sincere gratitude to you for a very pleasant building experience and a fabulous new home.

With much appreciation,

Mark and Sheila Richards

P.S. We just received our first electric bill—another pleasant surprise! :-)

The Tax Advantages of Home Ownership

2009-04-16T10:58:00.001-07:00

Owning your own home can be a very rewarding experience — especially when tax time rolls around. Three tax items in particular — the mortgage interest deduction, the property tax deduction and the capital gains exclusion — can provide significant financial benefits to home owners when the time comes to settle up with Uncle Sam.

Mortgage Interest Deduction

The interest you pay as part of your mortgage payment is deductible on your federal tax return and may also be on your state income tax return depending on where you live. This deduction applies to first and second mortgages, up $1 million of mortgage debt. Your lender should provide you with one or more IRS Form 1098s, which will provide the amount you may claim on your tax return. To benefit from this deduction you must itemize your deductions using a Schedule A Form.

You may also deduct the interest on money you borrow against your home to finance housing or non housing-related expenses. An example is a home equity loan, which many home owners use to remodel their home, pay off credit card bills, buy a car, finance a vacation or pay for educational expenses.

Property Tax Deduction

State and local taxes paid on the assessed value of the home are also deductible on your federal return. Like the mortgage interest deduction, itemizing is necessary if you wish to deduct property tax payments.

Notably, for many home owners the combined deductions for mortgage interest and property taxes exceed the standard deduction — currently between $5,700 and $11,400, depending on filing status. When this is the case, home owners are able to deduct or “write-off” many other items including charitable contributions, state income or sales taxes, medical and dental expenses, tax preparation fees and other miscellaneous allowable deductions, which collectively can reduce your federal and state income tax liabilities dramatically. Research by economists at the National Association of Home Builders indicates that for the typical home owner, these savings can exceed $5,000 in the first year of homeownership.

Capital Gains Exclusion

Perhaps the biggest advantage to owning a home is the ability to avoid paying capital gains when it is sold. Under current law, married home owners filing jointly may exclude up to $500,000 of capital gains and single tax filers may exclude $250,000 from taxation. This exclusion applies only if you have lived in your primary residence for two years or more. But the exemption may be used repeatedly as long as the residency rules are met.

The tax benefits conferred on home owners by the federal government are substantial. Annual benefits, such as the mortgage interest deduction and the property tax deduction, along with the less frequently used benefit of the capital gains exclusion, make homeownership more tax advantageous than almost any other investment. Take advantage of it!

Be sure to consult your tax advisor about the deductions you may be eligible to claim.

To see the many more reasons homeownership benefits you, call us or visit www.nahb.org/forconsumers.

That Little Uptick

2009-03-27T09:45:00.001-07:00

On March 25, the Commerce Department released a report that showed sales of newly built, single-family homes rose for the first time in seven months in February. The little uptick you see in the graph on the left stands for a 4.7 percent gain in new-home sales to a seasonally adjusted annual rate of 337,000 units in February.

That little uptick just might be the harbinger of a housing market recovery. And, if you believe that the recovery begins where the bust started, that's great news for the entire economy.

"This is an encouraging sign that the market may finally be reaching a bottom," said Joe Robson, chairman of the National Association of Home Builders. "Consumers are beginning to take advantage of the first-time home buyer tax credit, historically low morgagte rates, very affordable home prices and the great selection of homes they have to choose from in this buyer's market. For those with good credit and job security, the stars are all aligned to buy a home now."

NAHB Chief Economist David Crowe predicts that sales numbers will continue to climb as a ressult of the stimulus package, which includes the $8,000 first time buyer tax credit and higher mortgage ceilings for conforming loans, historically low interest rates, and builders' incentives. All these are working together to reverse the three year housing slide.

The key fact for people who want to buy a home but have been putting it off is that once sales begin to steadily rise, so will prices and, eventually, so will mortgage rates. So, now is the time!

Call or email us today for information about our available homes and incentives, or about custom building the home of your dreams. We're always happy to hear from you and will bend over backwards to help you acquire a beautiful new home.

Phone: 210-244-3635; Email: bridlebit@gmail.com

Remodeling? Get the Best Bang for the Buck

2009-03-19T14:19:00.000-07:00

Your home is your castle, but sometimes that castle may need a face lift. Remodeling is a great way to create a home environment that can meet your family's changing needs and tastes without you having to spend a lot of money.

Before you spend your hard-earned dollars, however, make sure that the changes you make now will have longer-term benefits for you when you look to sell your home in the future.

You should find out what features are standard for homes in your neighborhood. If you only have one bathroom but most of the other homes average two or more, you will want to bring your house up to that standard. On the flip side, do not make changes to your house that are too extravagant or out-of-place for your neighborhood.

Make sure you are not making changes that will turn off prospective buyers. Keep in mind what future home buyers would like to see in their next home. For example, it may be wise to add an additional bathroom or bedroom rather than a sun room or sauna, which are costly and will not necessarily be a priority for anyone else.

The size and cost of your project matter as well. The Joint Center for Housing Studies at Harvard University advises that smaller or midrange jobs overall will tend to recover a higher percentage of their cost than larger, higher-end projects.

For example, replacing old windows will generate a higher payback ratio than adding a high-end kitchen with all of the bells and whistles and costs significantly less, according to Stephen Melman, an economist with the National Association of Home Builders. (www.nahb.org)

Maintenance-related projects, such as siding and window replacement, are especially popular because they are repairs that are seen as needed, but can also help improve curb appeal at fairly low costs in relation to other projects.

The top ten midrange projects, cited in Remodeling magazine's "Cost vs. Value Report", that provide the highest percentage return are:

1. Deck addition (wood) - 81.8%

2. Siding Replacement (vinyl) - 80.7%

3. Minor Kitchen Remodel - 79.5%

4. Window Replacement (wood) - 77.7%

5. Window Replacement (vinyl) - 77.2%

6. Major Kitchen Remodel - 76%

7. Bathroom Remodel - 74.6%

8. Attic Bedroom - 73.8%

9. Deck Addition (composite) - 73.7%

10. Basement Remodel - 72.9%

These numbers represent the national average and percentages may vary in your area. To get information on projects that are the best investments for where you live, check out Remodeling magazine's "2008-2009 Cost vs. Value Report" at www.costvsvalue.com.

Whether you are looking to sell your house soon, or just want to remodel for yourself, it makes sense to keep an eye on how the changes you make now will reflect on your biggest investment down the road.

If you'd like more information, please give us a call at 210-244-3635 or email us at bridlebit@gmail.com.

What About the "What Ifs"?

2009-03-09T15:42:00.000-07:00

Given the ongoing turmoil in the housing and financial markets, many people who want to buy homes are sitting on the fence, either waiting for the market to bottom out or fearing that it never will. So what is the chance that the market will continue to decline, prices will continue to drop and a home purchased today will be worth less a year from now?
Of course, no one can know for sure what will happen a month, six months, or a year from now. Housing is predictably cyclical, but the current housing slump has already lasted longer than previous downturns. Moreover, timing the market is a strategy that rarely works; by the time it's clear that a market has turned around, it's too late to take advantage of the conditions at the bottom.
Fortunately, San Antonio has not been affected like so many other areas that we are hearing about. And we should not be basing our decisions on markets that are suffering a great deal more than we are. According to the 2008 and 2009 Multiple Listing Service (MLS) report by the San Antonio Board of Realtors (SABOR), at the end of November 2008, there were 949 pending sales. A month later, the numbers were up -- with a total of 996 pending sales. In January 2009, the numbers were up again -- 12 percent from the December figures -- with a total of 1,112 pending sales.
For most Americans, homeownership is a primary source of net worth and an important step in accumulating personal wealth assuring financial security. Today, even though property values have declined in some markets, Americans have a total of $8.5 trillion in equity in their homes. Home equity represents the largest share of net worth for most families.
It is time to buy! Get off the fence!

--Fred Elsner, President/CEO Bridle Bit Corporation and president, Greater San Antonio Builders Association.

FAQs on the $8,000 Tax Credit for Homebuyers

2009-02-26T09:47:00.000-08:00

For more information on this really wonderful incentive for first time homebuyers, or buyers who haven't owned a residence for three years, follow this link:
http://www.federalhousingtaxcredit.com/2009/faq.php
for comprehensive information, then come see us!

Economic Stimulus Benefits Housing and Mortgage Industries

2009-02-20T09:01:00.000-08:00

Just signed and sealed…a $787 Billion Stimulus Plan made up of tax cuts and spending programs aims at reviving the US economy and helping people acquire, and retain, the homes. Although the package was scaled down from nearly $1 Trillion, it still stands as the largest anti-recession effort since World War II.
Home owners and potential homebuyers stand to gain from key provisions in this stimulus plan. Here is what we know as of today...
________________________________
Tax Credit for Homebuyers
Go to this website for answers to most of your questions about the tax credit:
http://www.federalhousingtaxcredit.com/
________________________________
Homeowner Affordability and Stability Plan
President Obama today unveiled details of a foreclosure prevention plan designed to help 7 to 9 million responsible homeowners afford their mortgage payments. March 4 has been designated as the official roll out date for the program. The plan has three main components:
1. A refinancing program for borrowers who are current on their mortgage payments but who have been unable to refinance because the value of their home has declined.
2. A mortgage modification program for borrowers in default, or at imminent risk of default, that builds on the model established by the FDIC by expanding eligibility and establishing incentives for borrowers, mortgage holders and servicers.
3. Actions to bolster the financial stability and mortgage support capacity of Fannie Mae and Freddie Mac.
Refinancing Program
· Applies to loans owned or guaranteed by Fannie Mae and Freddie Mac.
· Allows borrowers, who because of a decline in their house value, have a mortgage loan-to-value ratio (LTV) of greater than 80 percent, to refinance to a lower interest rate mortgage, even if the new loan would have previously failed to meet Fannie/Freddie requirements.
· Maximum LTV on new mortgage is 105%. Will not help homeowners who are completely underwater on their mortgage (those households will be addressed in the mortgage modification portion of the program).
· Program is expected to create mortgage refinancing opportunities for up to 4-5 million homeowners.
Mortgage Modification Program
· Builds on the loan modification protocol developed by the FDIC, where a loan is modified by reducing the interest rate, increasing the term and/or deferring/reducing principal payments, if such adjustments result in a better net present value for the mortgage investor than disposition through foreclosure.
· Establishes clear and consistent standards and guidelines for identifying borrowers at risk of default and for loan modifications.
· Eligibility is based on high mortgage debt payments compared to income, or borrowers that are underwater. Delinquency is not a requirement for eligibility. Will also serve homeowners who have not missed payments, but who are in danger of doing so. Requires HUD-approved counseling for families with high (55 percent) total debt-to-income ratios.
· Keeps modified payments in place for at least 5 years, after which payments may be gradually increased to the conforming loan rate at time of modification.
· Servicers receive FSP/TARP funds for undertaking modifications, for subsequent modification successes, and are offered, along with mortgage holders, additional financial incentives to modify loans prior to default.
· Provides financial incentives to borrowers who remain current on mortgage payments following loan modification.
· Provides a partial guarantee to mortgage holders (through a $10 billion insurance fund established by Treasury and FDIC) to offset future declines in the value of the home collateral.
· Program is expected to reach up to 3-4 million at-risk homeowners.
· To establish additional motivation for loan modifications, seeks legislation to make changes in personal bankruptcy statue that will allow judges to modify mortgage terms, including reductions (cramdowns) of principal obligations.
Initiatives to Bolster Fannie Mae and Freddie Mac
· Increases Treasury’s Preferred Stock Purchase Agreements to $200 billion for each company, up from the current $100 billion commitment.
· Continued Treasury purchases of Fannie and Freddie MBS and debt.
· Increases Fannie’s and Freddie’s portfolio limits by $50 billion to $900 billion for each company.
· Commits Fannie and Freddie to providing support to state housing finance agencies.
________________________________
Additional Housing-Related Provisions
Tax Incentives to Spur Energy Savings and Green Jobs — This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.

Landmark Energy Savings — This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.

Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing — This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs.
Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 8) to increase energy efficiency, including new insulation, windows, and frames.

Expanding Housing Assistance — This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.

This information was provided by Hillary Singer of Excellence Mortgage in San Antonio, 210-930-5714.

Tax Advantages of Home Ownership

2009-02-06T09:37:00.000-08:00

Owning your own home can be a very rewarding experience -- especially when tax time rolls around. Three tax items in particular -- the mortgage interest deduction, the property tax deduction and the capital gains exclusion -- can provide significant financial benefits to home owners. And, in 2009, first-time home buyers may receive the benefit of a $15,000 tax credit. Talk with your lender about this exceptional tax incentive.
Mortgage Interest Deduction
The interest you pay as part of your mortgage payment is deductible on your federal tax return.
This deduction applies to first and second mortgages, up to $1 million of mortgage debt. Your lender should provide you with one or more IRS Form 1098s, which tell you the amount you may claim on your tax return. To benefit from this deduction you must itemize your deductions using a Schedule A form.
You may also deduct the interest on money you borrow against your home to finance housing or non housing-related expenses. An example is a home equity loan, which many home owners use to remodel their home, pay off credit card bills, buy a car, finance a vacation or pay for education expenses.
Property Tax Deduction
State and local taxes paid on the assessed value of the home are also deductible on your federal return. Like the mortgage interest deduction, itemizing is necessary if you wish to deduct property tax payments.
Notably, for many home owners the combined deductions for mortgage interest and property taxes exceed the standard deduction -- currently between $5,450 and $10,900, depending on filing status. When this is the case, home owners are able to deduct or "write-off" many other items including charitable contributions, state income or sales taxes, medical and dental expenses tax preparation fees and other miscellaneous allowable deductions, which collectively can reduce your federal and state income tax liabilities dramatically. Research by economists at the National Association of Home Builders (www.nahb.org) indicates that for the typical home owner, these savings can exceed $8,000 in the first year of home ownership.
Capital Gains Exclusion
Perhaps the biggest advantage to owning a home is the ability to avoid paying capital gains when it is sold. Under current law, married home owners filing jointly may exclude up to $500,000 of capital gains and single tax filers may exclude $250,000 from taxation. This exclusion applies only if you have lived in your primary residence for two years or more. But the exemption may be used repeatedly as long as the residence rules are met.
The tax benefits conferred on home owners by the federal government are substantial. Annual benefits, such as the mortgage interest deduction and the property tax deduction, along with the less frequently used benefit of capital gains exclusion, make home ownership more tax advantageous than almost any other investment. Take advantage of it!

Home Maintenance Tips

2009-01-26T08:01:00.000-08:00

It’s the weekend and you have a whole list of household chores to do. Oh, we know you’d rather be golfing or playing tennis or watching TV, but keeping your home in good shape is important. Your home may be the biggest investment you will ever make. Taking good care of it with regular maintenance is necessary to maintain its value and ensure it will provide a comfortable, safe shelter for you and your family for a long time.
Here is a home maintenance quiz that will test your maintenance knowledge. While this quiz does not address every home maintenance project, it does provide helpful tips and reminders for chores you may have overlooked. Call us, email us or post your comments here. We'll answer your questions and discuss any concerns you have about maintaining your new home.
1. How often do forced-air furnace filters need to be changed?
At least every three months during the heating season.
2. What part of the faucet usually needs to be replaced when you have a water leak?
The washer.
3. Should you run hot or cold water through your garbage disposal?
Cold water.
4. How often should the moving parts of garage doors be oiled?
Every three months.
5. What tools can you use to unclog your drains?
A plunger and a plumber’s snake.
6. What tool can be used to unclog a toilet?
Coil spring-steel auger.
7. What faucet part needs to be cleaned every three to four months?
Aerator—the screen inside the end of the faucet.
8. What can you use for traction on icy sidewalks, steps and driveways? (not much of an issue in San Antonio!)
Cat litter or sand—never use salt because it damages the pavement.
9. Where should the fire in your fireplace be built?
On the andirons or grate, never on the fireplace floor.
10. What will prevent soot and add color to the fire in your fireplace?
Throw in a handful of salt.
11. Where should your firewood be stored?
Outside, away from your house and not directly on the ground.
12. What helps keep unpainted concrete floors easy to keep clean?
Concrete sealer.
13. What should you use to clean unpainted concrete floors?
A solution of 4 to 6 tablespoons of washing soda in a gallon of hot water. Mix scouring powder to the solution for tough jobs.
14. When can you clean hardwood floors with water?
When the floors have a polyurethane finish.
15. Do hardwood floors need to be waxed?
Hardwood floors that do not have a polyurethane finish probably will need to be waxed periodically. Use liquid or paste “spirit” wax.
16. What is the best polish for vinyl floors?
Water emulsion wax.
17. When is basement condensation at its maximum? (Again - not an issue so much here.)
In new homes because gallons of water went into the concrete of basement walls.
18. Why should noisy water pipes be fixed promptly?
The condition that causes noisy pipes may be accompanied by vibration that can cause fittings to loosen and leak.
19. Why should frozen pipes be thawed slowly?
Frozen pipes should be thawed slowly to prevent the formation of steam, which could cause the pipe to burst.
20. How often should your roof be inspected?
A qualified roofer should inspect your roof every three years.
21. What should be regularly checked on your security system?
The alarms and circuit breakers should be checked to make sure they are in working order and the sensors should be inspected one by one.
22. To ensure your safety, what household equipment uses batteries that must be checked regularly to make sure they are operable?
Smoke and carbon monoxide detectors.
23. What do you use to fill nail holes and cracks in plaster walls and gypsum wallboard?
Spackling.
24. What is the white powdery substance that develops on masonry walls?
Efflorescence sometimes appears on masonry walls. It is crystallized soluble salts that can be removed by scrubbing with water and a stiff brush.
25. At what temperature should your water heater be set?
120 degrees Fahrenheit
26. How often do skylights need to be inspected?
Skylights should be inspected each time your roof is inspected so leaks don’t develop from cracks and interruptions around its seals, caulking and flashings.
27. What is a simple solution you can use to wash extremely dirty exterior windows?
A solution of equal parts vinegar and water or 3 tablespoons of denatured alcohol per quart of warm water. Use a piece of crumpled newspaper to wash the glass to avoid lint left behind by papertowls.
28. What can you use to help a window slide easily?
Rub the channel with a piece of paraffin.
29. What should you look for when you inspect your siding yearly?
Determine if wood-sided homes need to be repainted; check to see if the caulking around the windows and doors has split and cracked, and replace the caulk; clean the mildew; trim shrubbery away so it does not touch the siding.
And here's a link to the National Association of Home Builders email newsletter for potential and current homeowners. It's free -
www.magnetmail.net/actions/subscription_form_nahb_cenew.cfm

Housing Stimulus to Turn Around American Economy

2009-01-12T09:14:00.000-08:00

The national statistics are startling: more than half a million jobs were lost in November, with nearly 1.9 million jobs lost year-to-date. One of the hardest-hit segments is the housing industry and related businesses, where it is estimated that three million Americans have lost their jobs in the past few years.

Although San Antonio has not been hit as hard, we are still suffering consequences of the perception that we are in as dire straights as others around the country. An economic stimulus package currently being proposed to Congress could help reverse this trend and restore our country to financial stability. The centerpiece of the package focuses on the housing market, which accounts for 15 cents of every dollar spent in our country during a typical year.

"It cannot be stressed enough that Congress nneeds to act quickly to stem the tide of the housing crisis across American," said Becky Oliver, Executive Vice President of the Greater San Antonio Builders Association. "When the housing market is suffering, billions of dollars in wages and purchases are lost, negatively affecting almost every sector of the U.S. economy."

Fix Housing First, a coalition of more than 600 organizations led by the National Association of Home Builders, is urging Congress to take quick and decisive action to stimulate the housing market and stop the decline in home values, which will ultimately create more jobs and help lift the American economy.

According to the coalition, this can be done through a significant tax credit and implementation of an interest rate buydown for 30-year fixed-rate mortgages.

The Tax Credit

In July, President Bush signed into law the Housing and Economic Recovery Act of 2008 which authorized a $7,500 tax credit for qualified first-time home buyers purchasing homes on or after April 9, 2008 and before July 1, 2009. However, due to a wave of financial disruptions during September and October, the economy worsened, credit tightened, and the spillover to the general economy was deeper than previously anticipated. This means that a more roust economic stimulus package is necessary to get the economy moving again.

Specifically, a more significant credit is needed to enable families to buy homes and help straighten the economy of their local community and the nation. In the plan that the coalition is recommending, the credit amount would be substantially increased to 10 percent of the price of the home, up to $22,000. Unlike the current credit, it would not be limited to first-time buyers and the home owner would not be required to repay the credit.

The Mortgage Interest Buydown

The coalition is also recommending a mortgage interest rate buydown which will help get buyers back into the market and further stimulate the economy. Interest rates recommended by the coalition range from 3.99 to 2.99 percent for homes purchased by the end of December 2009.

The coalition also supports continued intensive efforts to prevent foreclosures and keep people in their homes.

The combination of these stimulus actions would increase demand for housing, help stabilize home values, reduce foreclosures, restore and save tens of thousands of jobs and turn the housing market and economy back in the right direction.

Fore more information about Fix Housing First, visit http://www.fixhousingfirst.com/

This article by Bridle Bit Corp. president and CEO Fred Elsner appeared in the San Antonio Express-News on Sunday, January 11, 2009, courtesy of the San Antonio Builders Association.

Happy Holidays!

2008-11-26T11:05:00.001-08:00

As 2008 draws to a close we can't help but think these are very interesting times. There's uncertainty, for sure, but when you really think about it, what in life is guaranteed? Sometimes it pays to be philosophical and realize that what goes up comes down and then goes up again...

Whether you're talking about the stock market, home prices or your mood, you've probably noticed that everything goes through changes and that's probably a good thing.

In the spirit of the Thanksgiving and holiday season, we want to say thank you to all of our clients, suppliers, and associates. Thank you, too, to all who visit our website with interest in investing in a new home. Thank you all for your business, your effort and great work, your friendship and your humor. We really appreciate it and look forward to serving you and working together in 2009 and beyond.

It's still a dynamic time to invest in a new home here in San Antonio. We found this article on mysa.com on November 26:

By Aïssatou Sidimé - Express-News

The Mortgage Bankers Association proclaimed San Antonio one of the top markets in the U.S. for home buyers, citing its high employment rate, population growth and better-than-average price appreciation as key factors.
San Antonio’s median home prices continued to perform better than all U.S. regions, dipping 1 percent in October from October last year, versus an 11.3 percent drop nationwide, according to data released Monday by the National Association of Realtors.
San Antonio is in the Southern region, which showed a 5.8 percent decline in median prices during the same period — the best regional performance in the nation.
“With 95 percent employment and people moving in, your glass is more than half full,” said David Kittle, chairman of the Mortgage Bankers Association, which tracks mortgages made by nonbank lenders. “You are the benchmark for the rest of the country in lending and building.”
Kittle also praised Bexar County’s low tax rate, saying it continues to attract businesses that hire new employees who are looking for homes.
Population growth in Texas is expected to remain above 2 percent next year compared with a negative projected growth rate for the United States.
A large chunk of the projected Texas population growth will be in the Denton-San Antonio-Houston triangle, according to Texas A&M University’s Real Estate Center.
The San Antonio housing market also has benefited from historically stable growth that avoided the large run-up in prices in 2005 and 2006, and the subsequent steep price declines some areas in the U.S. are experiencing now.
As a result, increases in Bexar County foreclosure listings are substantially lower than the growth in foreclosures nationwide. Foreclosure auction postings in the county are up 22.7 percent for the year, according to data provided by RexReport.com, which tracks foreclosure postings.
Nationwide, foreclosure activity is up 45 percent, according to RealtyTrac, which tracks foreclosure filings, sales and home repossessions.
“Our foreclosures are up slightly this year but not enough to worry like the rest of the U.S.,” said Michael Moore, outgoing president of the Greater San Antonio Builders Association.
While lenders nationwide are reporting a tightening of credit, San Antonio lender Van Stewart reported widespread availability for borrowers with credit scores at least 580 and a history of paying debts.
“We’re busy in our office,” said Stewart, chief operating officer at SWBC Mortgage in San Antonio.
Some lenders have fallen by the wayside, but, Stewart said, he’s been able to fill the void by placing more borrowers into mortgages insured by the Federal Housing Administration. About 35 percent of his new loans are FHA-insured so far this year versus 3 percent in 2007.
“The thing that has changed about underwriting is that we have gone back to underwriting that is not just about getting people into homes but about keeping them in houses for 10, 15 years,” he said.

Hmmm...

2008-11-15T09:56:00.000-08:00

Since the last time we posted, our nation has elected a new president and the issues facing him, and us, are much more complex.

We feel fortunate to be here in San Antonio where we are somewhat insulated from the problems in the other parts of the country and at the same time we recognize that we have our challenges, too. We are all in this together.

But fear is a funny thing -- in a way it feeds on itself and amplifies what is undesirable, often blinding us to what is good, what's working well, and to our basic security. We think, and feel deeply, that to remain optimistic and to remember every day to notice and give thanks for all that we have -- and there is so much that we have -- is helpful not only to ourselves, but to everyone else.

If you are considering buying or building a home, we hope you will remember to appreciate the opportunity you have at this time, to pursue your dream and to keep these things in mind:
- the economy will turn around
-home values in San Antonio are holding their own and rising in many cases
-at the first of the year, interest rates, too, are likely to rise -- investing now is a wise move.
-when you are looking at new home prices and "deals", keep in mind that many of the ones out there are possible because the seller has raised prices to pay for what appears to be a super deal, i.e. buyer incentives. Do your homework, and look at the square foot price of the home -- arrived at by dividing the price of the home by the number of square feet. Then, look closely at construction, amenities and upgrades and consider if the deal really is over the top.

If you have questions, please give us a call and we'll help you in any way we can to acquire a great home you will value and take pride in for years to come. In the meantime, keep noticing what's working well -- and if you get a chance, let us know what you find!

And now, a word about the media and the housing market...

2008-09-12T07:02:00.000-07:00

Every day the bombardment of news and information touches all of us and influences how we think, how we feel, and what we do on so many levels that it's impossible to name them all. Most of us probably underestimate the power of the media in shaping what goes down in the markets and even at the dinner table.

The most important thing to remember about the media, especially the news media, whether it's newspapers, cable news, network news, radio talk shows -- whatever -- the focus is always negative. Never do these outlets talk about the upside of an event that they report as "news".

And there are upsides to everything in life. For example, the current rearrangement of financial institutions on Wall Street, at the very least, can be seen as a culling, or pruning that will in the long run strengthen and realign financial practices. It takes a little research perhaps to find, but there are certainly many more positives that will come out of this time.

The power to choose...

We all have a choice to react to headlines and stories, or to stop and think about the context of the news and also look for the upside and advantages in any situation. Not only that, it is helpful to remember that every day, all over the world, in every moment, a lot of people are are doing something kind, loving, wonderful for someone else. The majority of people are doing an honest day's work, taking care of their businesses, their families, having fun, enjoying life. Every day in every moment a lot of people are thinking good thoughts. This is much more prevalent than the bleak, shocking stories that are streamed over and over again on news stations to snag viewers.

We did not, as a nation, reach the unprecedented level of prosperity that we now enjoy by focusing on bad, sensationalized news 24/7, caving to the negative emotions and fears it creates, living in fear of bleak tomorrows. No...we have traditionally kept our eyes focused on a bright future, have found the upside and capitalized on it, planned for it and continued to be cheerful (an adjective many in other parts of the world use to describe Americans) and led the way into ever more prosperity.

Of course our forefathers and mothers were not inundated by the print and electronic media as we are. But we definitely have a choice: to choose how (and how much) we will view the events of the day as they are presented to us. We may notice that the less "news" we absorb and unthinkingly accept as truth, the better we feel, the more energy we have. As we choose to feel good more of the time and see "news" for what it is, we may notice improvements in all areas of our lives as we take care of business responsibly and apply our energy to making our best dreams reality.

Professionals weigh in...
Recently journalists and real estate professionals from around the country weighed in on the effects of the media on the housing market. To what extent does reporting on market conditions influence buyers? The consensus was that the news definitely helps shape behavior. Here are excerpts from the comments, which are in the current issue of Ideas, a magazine published by the National Association of Home Builders (http://www.nahb.org/):

From Tim Kane, president of MBK Homes in Irvine, CA:
"I think that the most astute economist will tell you that public perception is a large component of how economics works. And the press is a large factor in the formulation of public opinion...We're in a chicken and egg situation. Yes, the market declined. Yes, the media reported it. The fact that the media reported it did indeed cause the market to decline further. At a certain point, the market is going to reach equilibrium and stabilize and then the new story will be that the market is turning around. And I think that the stories that the market is turning around and that real estate prices are increasing helped fuel the last real estate boom as much as the stories that the market was declining have fueled this .... (Note: real estate values in San Antonio continue to increase.)

From Dorothy Tayloe, broker, Daniel Homes/Ingram & Associates, Birmingham, AL:
The media's impact is enormous in regard to virtually everything. Obviously, the situation in home sales is no different. Real estate markets are local, and when the national media brings you the doom and gloom, nobody bothers to say here in good old Birmingham, Alabama, that our market is still very good...Journalists didn't create the bad market, that's for sure. But again, real estate markets are very local. And I think they should be covered as such.

From Lauren B. Cooper, Reporter, Birmingham Business Journal, Birmingham, ALA
Every real estate market is different. They're all local. But to hear the national news all lumped together as not very good news can be very discouraging to many people on a local level, so I think that contributed to the slow down.

From Andrew Star, Executive Managing Director, Cantor Real Estate, White Plains, NY
A lot of people are saying that the media has created this problem and if the media would just put out some positive stories, this would all go away..I don't hold those beliefs. We got where we are in the real estate market because we weren't paying attention to the fundamentals of the assets and the transactions themselves...That being said, when all you hear out there is the bad news, and we don't talk about some of the positives in the marketplace, then it does become somewhat self-fulfilling.

What do you think? We'd love to have your comments and know to what extent you are influenced by what you see and read in the news about housing and real estate now.

Feel free to comment here or email us at bridlebit@gmail.com

Come Join the Parade

2008-09-03T09:08:00.001-07:00

Today is September 3 and we're in the middle of the 2008 Parade of Homes at Cibolo Canyons. The homes in this year's Parade are remarkable for lots of reasons -- for their beauty, fine design, size, location, the people who designed and built them, and all the people whose companies made the products that go into these fine houses.

Significantly, this is the first year that the Parade is green from the ground up -- green means that building practices and materials ensure minimal environmental impact. Green building has health benefits for home owners, too. For more information about green building, visit www.buildsanantoniogreen.org

And, come visit us at the Parade. Say hello to Fred, Russell, Jesse, Rose and Terry. We would love to meet you. You can find directions to the Parade, times and more information at www.sabuilders.org

An Invitation to Visit Us at Royal Ridge

2008-06-25T05:28:00.000-07:00

This weekend we're having the grand opening of our garden homes at Royal Ridge. These are beautiful homes priced under $200,000 in a great neighborhood that is set to experience a renaissance within the next few years. Because of businesses like Rackspace, the international IT firm that's made San Antonio its home and is located in the area, and because of the expansion of our military bases, the future looks truly great for homeowners in northeast San Antonio.

Now is a fabulous time to invest in one of our homes in Royal Ridge. Please visit us this weekend, or any time, and see for yourself why these homes are so popular. We have three ready to move into and a few more lots that we'll finish this year.

Looking forward to seeing you soon!

Good Advice from a Financial Pro

2008-06-06T05:26:00.000-07:00

Suze Orman recently posted this advice for home buyers and owners on Oprah.com :

“...get a grip on what really matters—the long-term performance of the housing market. Even when you figure in the past year's 10 percent dive (in many areas of the country but not in San Antonio), the national median price for existing homes has gained nearly 25 percent over the past five years, according to the National Association of Realtors. Over time, housing will revert to its historical norm: an average annual appreciation rate about 1 percent above the inflation rate.”

Home Ownership -- Some Reasons Why

2008-05-14T17:55:00.000-07:00

We're fortunate in San Antonio, and Texas in general for a lot of reasons not the least of which is that the mortgage problems affecting the rest of the country have not hit home.

In fact, Bexar County existing home values are increasing. Existing home values increased by about 4.4 percent since 2007; with new home construction factored in, total appraised residential values are up by about 5.5 percent. When you add commercial properties, the Bexar County Appraisal District calculates an overall increase in value of about 12 percent.

With San Antonio’s healthy job and population growth, these housing numbers tell us that we're on solid ground and, while nobody likes to pay more taxes, a rise in home is welcome news.

Here’s an article from the National Association of Builders (www.nahb.org)about the wisdom of investing in your own home.

Is Buying a Home in Today's Market a Good Idea?

As a long-term investment, buying a home is still one of the best investments for individual households.

“Why?” you may ask. After all, the headlines say the housing market is down and out, with defaults rising at an alarming rate, and mortgage markets so frozen that buyers can’t get a home loan at any price.

What buyers need to realize is that housing markets, like all markets, inevitably have their ups and downs. And homeownership has a track record that is virtually unmatched by any other purchase in terms of its real benefits.

Despite the turmoil in mortgage lending, if you have good credit, a job and steady income, you will find there is still plenty of mortgage credit to be had at good rates. For well-qualified buyers, rates are running at near historical lows.

Homeownership’s Real Value
Here are a few examples of why, dollar for dollar, homeownership is a solid stepping stone to a future of financial security and the single largest creator of wealth for many Americans.

Over the long-term real estate has consistently appreciated, even through periodic adjustments in local markets in response to economic conditions. On a national level, home appreciation has historically increased 5-6 percent annually, report economists at the National Association of Home Builders.

Five percent may not seem much at first, but here’s an example that will put it into perspective: Say you put 10 percent down on a $200,000 house, for an investment of $20,000. At a 5 percent annual appreciation rate, that $200,000 home would increase in value $10,000 during the first year. Earning $10,000 on an investment of $20,000 is an extraordinary 50 percent annual return.

In contrast, putting that $20,000 down payment into the stock market and getting a 5 percent gain would only yield a $1,000 profit.

Compared to Stocks
Looking at it another way, over a longer period of time, if someone put $10,000 into the stock market in 1996, the average annual S&P return would make that investment worth $21,500 today—an increase of $11,500. The median home price in 1996 was $140,000.

Today, that same home would have gained nearly $100,000 in value.

Don’t miss out on the benefits of homeownership.

2008-05-13T16:22:00.000-07:00

Well, it's been an interesting year all over and we're so glad that you've found us.

We're excited about the future of our business and look forward to providing you and other home buyers with useful (and sometimes even entertaining) information about home buying and building, and home ownership, as well as news about what we're up to and what the industry is doing. In this fast changing, complex environment, we know it's important to be informed about what's happening, especially if you're looking for a home. We'll do our best to provide you with news you can use.

Please visit us again soon and feel free to contact us with any questions. We look forward to hearing from you.