Art Under the Sunset by AWAKEN will be on SATURDAY, MAY 31st at Megan's Boutique in Parker Square in Flower Mound, 7:00pm - 10:00pm. There are 10 featured artists who will be displaying their talents, live music and a raffle...it should be a great way to spend an evening. All proceeds from the event benefit the Eyes on Africa Foundation! For more detailed info, call 972-899-4060.

Thinking of selling? In today's market, buyers can be choosy, so try some of these easy, inexpensive ways to spruce up your home before listing:

*Paint, stain or orange oil your front door
*Put fresh mulch in front beds
*Put a new, larger mirror in baths
*Put fresh flowers and/or fresh fruit displays out in the kitchen
*De-clutter as much as possible

Homes in north Texas are selling every day, so be sure yours is ready to go and make the most of our dynamic economy!

Storms are rolling through North Texas regularly, so be sure to check your roof, gutters, air conditioners and landscaping for storm damage. Let us know if we can help you locate a reputable repair crew or someone to help you chop up that downed tree limb.....we work in this area daily, and are always happy to help. Stay safe & dry!

Anne, Daniel, Leslie, Carolyn & Rhonda

The Anne Lakusta Team

Though today is April Fool's Day, there is no fooling around with credit scores and credit history in today's mortage market. A person typically has three different FICO scores - Equifax, Experian, TransUnion). Here are a few important facts for you to know and understand:

** Paying bills on time is important but actually accounts for only about 35% of your overall FICO score. The FICO score has 4 other components: how much debt is owed (30%), the number of credit accounts recently opened (10%), the length of your credit history (15%) and the types of credit used (10%).
** Your FICO score does not take into account your income level or net worth. If you do not have a long term borrowing history, you may have a lower score, even if you pay for everything promptly.
** Checking your credit report does not affect your score, too many applications for credit can.

You can learn more about credit scoring by visiting MyFICO.com.

The mortgage market is changing and the headlines can make applying seem intimidating, but please don't hesitate to call us with any questions. It is more important now than ever to rely on industry professionals!

Now that the official first day of spring has passed, many of us must turn our thoughts to income taxes. Here are a few tips for you to consider as you begin your plan for 2008:

1) The standard mileage deduction will increase to 50.5 cents per mile, so be sure to keep a good record.

2) You can contribute $5,000 to your IRA in 2008 - $6,000 if you are over 50.

3) The provision permitting tax payers to deduct state sales tax expired at the end of 2007. That's a big deal for those of us in states like Texas, with no state income tax to deduct.

4) The maximum amount of earnings that will be subject to Social Security taxes in 2008 increases to $102,000.

5) About 2/3 of taxpayers do not itemize their deductions and there's good news for you:

the standard deduction for a married couple filing jointly will increase to $10,900 and for a single it will be $5,450 in 2008.

Don't forget the many tax benefits to home ownership as you prepare your taxes and begin to plan for 2008!

The Wall Street Journal looked at the basic indicators in 28 major real estate markets and then complied date for the overall strength of each metro area. Out of those 28 metro areas, the only two markets rated STRONG for 2008 were in Texas: Dallas and Houston. They predict no change in housing inventory, a strong employment outlook; only 4.53% on home loans now in overdue status.

Our own North Texas Real Estate Information System shows an increased average price and price per square foot in 2007 over 2006 in: Coppell, Frisco, Southlake, Flower Mound, Grapevine, Plano, Trophy Club. The entire north Texas area showed a 3% increase in price per square foot sold in 2007 over 2006, and 4% increase in average price.

Remember our favorite saying: REAL ESTATE IS LIKE THE WEATHER! The national average temperature doesn't matter at all to you when you wake up each day!

It's a great time to buy and sell in Texas!

Finally the mortgage market is responding to interest rate cuts in other areas. Today the lowest rates we received notice of were 4.875% for 30 year fixed and 4.5% for 15 year fixed. What a great time to buy a home, move up to a larger home or consider purchasing a second home! On the evenings of February 19th and February 26th, we will be hosting a seminar entitled "Real Estate As A Wealth Building Tool." Today's interest rates make this an even more important piece of your investment strategy. E-mail us today at annel@rmdfw.com for specifics about the seminars!