The Bains

Austin & Round Rock Independent School Districts ranked first & 2nd, among U. S. schools for using the most power from renewable energy sources. The City of Houston was the #1 in the country & City of Dallas followed with the City of Augstin ranked 9th & DFW International Airport
ranked 11th. The only Texas university to rank is Texas A&M University System and it was in the
top 20. EPA’s Green Power Partnership works with more than 1,100 organizations to voluntarily
purchase green power to reduce the enviornmental impacts of conventional electricity use. More
can be read about this by contacting Carolyn Bain at Bain Real Estate at 903-571-2191.

Amendments 2, 3 & 5 deal with property-related constitutional amendments & to be voted on
Tuesday, November 3. Amendment 2 will ensure that a residence’s property value is based solely
on its value as a homestead rather than its “highest & best use”. Amendment 3 will create uniform
statewide standards for appraisal procedures. Amendment 5 will give appraisal districts the ability
to consolidate their review boards, which especially benefits rural counties. TAR also supports Amendment 11, which prohibits the taking of property solely for economic development or tax-
revenue purposes using the eminent domain procedure. Texas Association of Realtors & most
Realtors support the passage of these 4 amendments.

4 things needs to happen: (1) health care issue settled by Congress, (2) increase in personal savings rate,
(3) cap-and-trade issue settled (deals with emissions & Texas is most effected as largest amount
of emissions from the refineries, chemical plants, etc.) & (4) increased corporate profits & NOT from cutting inventory, which does not lead to expansion. Numbers 1 & 2 are creating substantial uncertainity for business & investors. All this information from Dr. Mark Dotzour, chief
economist for the Texas A&M U. Real Estate Center. When these 4 issues are resolved, the economy will begin to turn the corner.

The Texas Department of Insurance has denied a 10% rate increase requested by the Texas
Windstorm Insurance Association. According to TDI, the state-backed windstorm insurer’s
current rates should cover its projected costs & the costs of financing bonds it would need to
issue following a catastrophic storm. Rates for homeowners jumped 12.3% in February & 15.6%
for commercial property owners. Texas Windstorm Insurance Association has 2,800 policyholders
in Harris County & roughly 64,900 in Galveston County.

With our long experience in the business, we can serve as an industry spokesperson, particularly
on Tyler and East Texas properties – including residences, lake properties, farms & ranches, land
& we can direct you on commercial. These blogs serve to KNOWLEDGEABLY spread information
regarding real estate to you as the consumer & buyer & seller for your property or that of
relatives & friends. Our next blog will deal with the 3 constitution amendments coming up on the
November 3 ballot. Dave & Carolyn Bain of BAIN REAL ESTATE are available via e-mail, phone at
903-571-2191 or 903-561-4346 or FAX at 903-534-9073. Getting in touch with either is usually
fairly easy & efficient. TRY IT!

Four of the best 5 labor markets in the country are in Texas, according to a new study by Portfolio.com. All 100 metropolitan areas in the study have 5% private-sector jobs disappear, but
the TEXAS FOUR HAVE A 2.6% DECREASE. The 4 markets are Austin, San Antonio,, Houston &
Dallas-Fort Worth with Baton Rouge, LA in 3rd place. Texas markets still have 589,500 more jobs
than 5 years ago. Figures were pulled form the U. S. Bureau of Labor Statistics date for 2004-90 & raw & percentage changes in private-sector employment.

It was reported that the University of Texas Health Science Center at Tyler was expanding
with a Tyler Medical School, but not for undergraduates in medicine, but on the post-graduate
level. The Academic Center will have an expanded Oncology Clinic to bring cancer care in East
TX to the level of M. D. Anderson. Ground will be broken this month on its $42 million state-of-the-art Academic Center. Three story, 80,000 sf facility to house a large auditorium, educational
training space & expand the library to house the Chamblee Cancer Center. Mixed financing from
tuition revenue bonds, UT System & local institutional funds from patient care revenue + $4 million
from philanthropic support.

with low interest rates, good inventory & $8,000 first-time tax credit, but remember the 7 DEADLY SINS OF BUYERS:
(1) failing to check credit before house hunting,
(2) not working with a buyer’s agent,
(3) stop shopping for loans with a good interest rate, but OTHER factors,
(4) check out lender & get pre-approved,
(5) NOT thoroughly checking out the neighborhood,
(6) failing to attend the home inspection & final walk-thru,
(7) NOT examining closing documents prior to closing.
Just call THE BAINS to guide you through this process at 903-571-2191.

You see it on your closing statement & has just gone up to $5. Regulated by the Texas Title
Guaranty Association, is used to pay claims resulting from shortages in the trust funds or escrow
accounts of an involvent title agency, certain expenses of receivers & the expenses of the Texas
Department of Insurance title examiners. Small fee, but they add up at closing! WINDOW IS CLOSING FOR THE $8,000 TAX CREDIT BY NOVEMBER 30, 2009, unless Congress extends it, but
so far has not. Almost too late to find a piece of property, get the contract completed, get to
your lender & get it closed. Remember Thanksgiving is on Thursday & the 30th is the next Monday.

1. FHA and VA 30 yr have a fixed rate of 4.875 with NO POINTS. Credit scores over 660.
2. Conventional 30 yr with 5% down IF credit score over 740. Rate is 4.875 with no points.
3, USDA loans with ZERO down & move-in financing up to $271,000 loan.
YOU MUST GET WITH A LENDER WHO KNOWS THESE PROGRAMS, SO CALL CAROLYN BAIN at
903-571-2191.