Clay Lee
Broker/Realtor®
Read my blog below
How to get rid of PMI - Part One
December 2nd, 2008 Categories: Buying Real Estate, Foreclosures, Home Improvement & Design, Real Estate News, Selling Real Estate
No I didn’t say PMS. If I knew that, then I’d be a millionaire. PMI - your Private Mortgage Insurance protects your lender in case if a borrower defaults on the loan, and the value of the home is lower than the loan balance.
Home Equity and PMI
PMI has been a large money-maker for the mortgage lenders. The amount of the insurance (usually $40/month for a $100k home) is commonly rolled into the mortgage payment. Given the size of the overall note payment, this additional fee is often overlooked. Homeowners continue to pay the PMI even after their loan balance has dropped below the original 80% threshold. This occurs naturally, of course, as the home owner pays down the principal on the loan. On a typical 30-year loan, however, it can take many years to reach that point.
Lenders were under no obligation to tell home owners when they had reached a point where the PMI can be dropped. That all changed back in 1999 when the Homeowners Protection Act took effect. In most cases, this law now obligates lenders to terminate Read the rest of this entry »
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Voting for the Right Reasons
November 4th, 2008 Categories: Politics
How dangerous is an uninformed voter? When asked about the power of voting in a democratic government, Abraham Lincoln replied, “A ballot is stronger than a bullet.” As Americans, we are all armed with bullets to fire in the upcoming presidential election, but it seems many voters don’t even know what they are shooting at.
Recently on the Howard Stern Show, a correspondent went out to Harlem to interview Obama supporters and ask which policies of his they agreed with. Many of them were recorded saying they thought Obama’s plan to stay in the Middle East for as long as it takes was spot on, and also that they supported his decision to select Sarah Palin as his running mate…What? While this hardly stands as a litmus test for the entire country, it has to make you wonder: Just how many people are voting without knowing much more than their candidate’s name?
The semi-famous interview of Matt Damon ripping on Sarah Palin has accumulated over 8 million views on youtube.com. Add that to the number of people who tuned in to the SNL episodes guest starring Sarah Palin and John McCain, 15 million and 12 million respectively, and you have an audience well over half the size of the 57 million viewers who tuned in to the last presidential debate! Is it possible that people are making decisions on who to vote for based on sketch comedy or celebrity endorsements?
The bottom line is this: If we, as a people, choose to elect our next president based on anything other than the issues that matter most to us, then we have done our nation a disservice and should not be surprised if things do not go the way we would like them to. People are turning out in record numbers this election season to cast their votes and fire their democratic bullets. I just hope we don’t shoot ourselves in the foot.
If you have any question, feel free to contact me anytime at rclaylee@yahoo.com or 979-255-1839
College Station’s #1 Luxury Lifestyle & Real Estate Expert for over a Decade!
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Texas A&M Makes National News by Egging Obama Poster
October 31st, 2008 Categories: Politics
Yesterday on the Texas A&M campus, the Young Conservatives of Texas hosted an Anti-Obama Carnival in an attempt to publicly protest his policies. As part of the carnival, students could come “throw away their nest egg” by throwing real eggs at a large poster of Obama that was erected in the middle of campus. This resulted in an uproar from the Obama supporters on campus, who were disgusted by the display and claimed that people were “throwing eggs at Obama, not his policies.” The Young Conservatives of Texas removed the poster of Obama, but pledged to return the following day with a list of Obama’s policies to throw eggs at, claiming that they are simply exercising their first amendment rights. The carnival’s intent was to spark open and intelligent discussion about the candidate’s policies in the upcoming election, and although the carnival was conceived by some as offensive, it is refreshing to see college students with so much to say about politics. So whether you agree with the egging or not, recognize that this was a win for both sides; raising awareness and sparking interest in a group of young adults who are usually perceived as apathetic.
If you have any question, feel free to contact me anytime at rclaylee@yahoo.com or 979-255-1839
College Station’s #1 Luxury Lifestyle & Real Estate Expert for over a Decade!
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4315 Parnell House Priced to Sell
October 30th, 2008 Categories: Buying Real Estate
This past weekend, at the Bryan/College Station Parade of Homes, droves of people stopped by to see the hottest house on the market right now, 4315 Parnell. This beautiful home, designed by the architects at Southern Living to fit the modern family, has a wide open floor plan that gives you more than you would expect from a home of just under 3,000 sq. ft. The price has just been reduced and the seller is VERY motivated. To see this beautiful home for yourself, take the virtual tour or just call to set up a time to see it.
If you have any question, feel free to contact me anytime at rclaylee@yahoo.com or 979-255-1839
College Station’s #1 Luxury Lifestyle & Real Estate Expert for over a Decade!
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A Silver Lining to a Dark Cloud
October 21st, 2008 Categories: Market Trends, World News
Lately, the media has not had a lot of “good news” to report on. The stock market is down… way down. Congress is continually arguing about economic stimulus packages that, if not passed, would mean millions of Americans losing their jobs and retirement funds. Obama and McCain will reportedly spend around 30 million dollars over the last month of their campaigns on mostly negative ads. Thousands of American families are having their houses foreclosed on. And, in a recent pole, about 75% of Americans think things are going badly in our country. Did I mention we are at war? Is there any light at the end of the tunnel? Yes. In fact, look closely and you can see the some light right now. Less than a year ago, gas prices were one of the hottest topics in the news and politics, with people fearing that rising oil prices would mean they could no longer afford to drive their own cars. Don’t look now, but oil prices have dropped dramatically; 53% since July 11th. What was, just a short time ago, our nation’s number one concern has now become a silver lining in the dark cloud that is the U.S. economy. So, while there probably won’t be much to smile about in tonight’s news, try to look at the bright side: at least there won’t be any reports of heart attacks at the gas pump. Everyone keep your heads up and remember that all these things, like gas prices, can get better with time.
If you have any question, feel free to contact me anytime at rclaylee@yahoo.com or 979-255-1839
College Station’s #1 Luxury Lifestyle & Real Estate Expert for over a Decade!
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Easiest Way to Divide Real Estate in a Divorce
October 10th, 2008 Categories: World News
If a couple decides to separate after many, many years of marriage, one of the burning questions on everyone’s mind is, of course, who gets the house? How about both of them! In what reporter May Titthara called, “the strangest thing I’ve ever seen,” a Cambodian man, after separating from his wife of over 40 years, literally CUT HIS HOME IN HALF! See exactly what happened here and be glad that here in American we have things like mediators and divorce court to keep something like this from happening to your house..
If you have any question, feel free to contact me anytime at rclaylee@yahoo.com or 979-255-1839
College Station’s #1 Luxury Lifestyle & Real Estate Expert for over a Decade!
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Taking a Stand Against Foreclosures
October 9th, 2008 Categories: Foreclosures, World News
The mortgage foreclosure epidemic has been taking thousand of families who can no longer afford to pay their mortgage and putting them out on the streets. But what about the families who are still making their monthly payments, do they deserve to be thrown out too? In apartment complexes all across the country, good tenants, who have never so much as missed a payment, are being evicted from their apartments because building owners have fallen behind on their mortgage payments. Fair? Illinois sheriff Thomas J. Dart doesn’t think so, and is now refusing to evict good tenants from their homes, calling it “insane”. Get all the details here and decide for yourself whether these people deserve to be out on the streets.
If you have any question, feel free to contact me anytime at rclaylee@yahoo.com or 979-255-1839
College Station’s #1 Luxury Lifestyle & Real Estate Expert for over a Decade!
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5300 Riviera Drops Asking Price by $40,000!
October 8th, 2008 Categories: Buying Real Estate, Pebble Creek
Builder Rob Crowley of Crowley Custom Homes just dropped the listing price of his house at 5300 Riviera by $40,000! At this price the house is practically a steal and way to good to pass up. Check it out for yourself here, or go by and see it in the new section of Pebble Creek.
If you have any question, feel free to contact me anytime at rclaylee@yahoo.com or 979-255-1839
College Station’s #1 Luxury Lifestyle & Real Estate Expert for over a Decade!
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Round Top/Warrenton Antique Festivals
October 7th, 2008 Categories: The Realtor's Life
Looking for something to do around this time of year and can’t wait until Halloween? If you said yes, you are in luck because it is antique festival time in Texas. Each year, during the first full weekend of October, more than half dozen small, rural Texas communities hold Antique Weekend at a midpoint between Houston and Austin. With tents and barns occupied by thousands of vendors stretching as far as the eye can see, you would be hard pressed to run out of things to do here. I have been going to this event for years now and there are a couple places I make sure never to miss. The Round Top/Warrenton Antique Festival is a four day event with tickets costing only $10! Parking is free, as is the shuttle to take you directly to the Big Red Barn. This is the place where vendors set up shop and display one of the largest antique collections you will find anywhere, ever. To see what all the fuss is about, visit these web sites and read all about the history of what is, arguably, the biggest and best antique show in the world!
If you have any question, feel free to contact me anytime at rclaylee@yahoo.com or 979-255-1839
College Station’s #1 Luxury Lifestyle & Real Estate Expert for over a Decade!
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Whistling Straits Party Benefits Brazos Valley Food Bank and Hurricane Ike Relief Efforts
October 3rd, 2008 Categories: Community Events, Home Improvement & Design, Pebble Creek, The Realtor's Life
Thursday, September 25, a benefit was held at 5203 Whistling Straits in support of the Hurricane Ike relief efforts. Many local firms were willing to donate items to the silent auction, and all proceeds from the auction went to the Brazos Valley Food Bank, who helped to get the money into the right hands.
Some of the items donated were: An area rug from Aggieland Carpets, several pieces of artwork by Aggie artist Benjamin Knox, a bottle of wine from JJ Ruffino, a $100 gift card to The Republic from Wade Barkman, Kohler bath hardware, a prep sink and a lavatory sink all from Moore Supply, a lamp from Susan Tremont, an under-counter refrigerator from Factory Building Stores, a framed picture from Myra’s Gallery and Custom Framing, a painting kit from Monarch, and French doors from Grand Door Co. to be stained by Rob Crowley.
Hors d’oeuvres were provided by The Republic and prepared on location by chef Brian Light. There was also a bar set up in the outdoor kitchen serving drinks all night. Procedes from the bar also went to the Hurricane Ike Relief fund.
Benjamin Knox, who designed the house, and builder Rob Crowley were available to answer any questions about the house which finished construction recently. Guests came and went from early evening until around 10:00 at night. Overall, everyone who came had fun enjoying the food, drinks, and touring this beautiful, one of a kind house. All of the guests were also very generous and giving, raising over $3000 dollars in the auction to go to the relief fund.
Thanks to everyone who attended this event as well as all of the companies who donated towards the auction and the relief fund. It was truly a showing of the spirit of Aggieland, and our willingness to come together and help when there is a need.
If you have any question, feel free to contact me anytime at rclaylee@yahoo.com or 979-255-1839
College Station’s #1 Luxury Lifestyle & Real Estate Expert for over a Decade!
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