August 2012

Found 8 blog entries for August 2012.

homevalue_259What is your Dallas home worth?

Figuring out home values when the market is in flux is truly a job for experts. We have seen the national real estate market begin to rebound, and expect Dallas home values to soon start to reflect movement as well. Most local homeowners are in the habit of keeping an eye on area home values. But especially for anyone considering buying or selling this summer or fall, estimating their home's value is one of the first items on the agenda. 

To get you started, there are a couple of different methods to help establish a ballpark estimate of what your home may currently be worth. 

Certainly the quickest and easiest tool is the online estimator on the website, at http://www.zillow.com.  This free online calculator uses

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 foreclosure_275        Dallas Foreclosures

These days the words “bank owned homes” have become practically synonymous with a single word: “opportunity.”  With prices and mortgage rates this low, first time home buyers, investors and seasoned property owners alike are looking at a raft of buying options unlike any our town has seen in a very long time. 

That option of buying a bank owned home has certainly opened a viable route for those looking to own a home at the fraction of what it cost just a few years ago. But not without a price:  the best local bank owned home bargains are almost certain to fall into the 'fixer-upper' category.

When considering the purchase of one of our Dallas bank owned homes, I've found that my most successful clients have a few

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homeworth_232Dallas Short Sales and Foreclosures

When a homeowner decides to go the short sale route, it's generally because other courses of action have already proven impractical. Yet short sale transactions have been notorious for dragging on and on, often ending with the lender turning down the offer. After months of waiting, that can be infuriating.

As a result, a demand has developed for companies who can offer short sale negotiating services to sellers. Designed to streamline the process and increase success rates, these firms are known as “debt settlement” companies.  Excellent local debt settlement companies are those which truly help homeowners and provide a valuable service. 

But a heads-up is necessary here: there are others that offer poor advice

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As regular readers know, I keep track of the national media spin on real estate matters because our Dallas local home sales often reflects the tone we all pick up from the feel of the wider market. So let's not beat around the bush: again in July, the residential real estate picture continued its rise. It has been sensible to remain cautiously optimistic about the direction of things for a good long while, but at this juncture, it's finally beginning to look like a trend has taken shape.

“For the fifth consecutive month,” the Wall Street Journal reported in its news pages, “sales of previously owned homes notched another rise.” Dallas homeowners who have gone through literally years of sinking prices and moribund home sales must be worried as they read

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Anyone interested in buying a house in the Dallas area today has heard that they should expect to find tougher mortgage lending requirements. Sometimes that can seem arbitrary -- or just plain unfair. But unfair or not, the new lending reality is probably here to stay for a while, and the causes are understandable.

The mortgage industry learned a powerful lesson from the past, when it pretty much gave anyone who applied a generous loan - sometimes with practically no questions asked. But this “generosity” created financial problems for both the banking industry and the country as a whole. It's not hard to understand why lending guidelines are stricter.

Reducing Loan Defaults
The overriding reason for tougher lending policies is to reduce the number

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Surprises can be a lot of fun. Being blindsided when friends throw you a surprise birthday
party is a fine example. Getting an unexpectedly large tax return is another. But when you're
about to close escrow on a new Dallas home, surprises are the last thing you need.
One of the most important services I provide as your experienced Dallas real estate agent is
to be there to help you sail through the process of a surprise-less closing. Even so, it's
important for you to review some basics of the steps we need to accomplish in advance. I
consider it 'surprise insurance' for a successful closing.
Financing
Proper financing is the first step in being able to close on the home you've just fallen in
love with. Ideally, this was arranged before you even began…
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Mckinney TX was voted #2 for the best place to live in the US.  Allen, TX made the top 20.  Criteria was based on Housing, Health Care, Schools, and Quality of Life.

Mckinney TX is located in the Collin County.  Neighboring cities include Plano, Allen, and Frisco.   Mckinney was voted the #3 fastest growing city in the US.  Its cheap cost of living and excellent schools makes it a great place for families to settle down.

Read the full article here.  http://money.cnn.com/magazines/moneymag/best-places/2012/snapshots/PL4845744.html

Ready to start searching for Mckinney homes?   http://www.dallashomeandcondo.com/mckinney-homes.php  

 

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When working with new buyer clients in the Dallas area - especially the first time homebuyers
- I usually find myself fielding more than one question about what they should expect as they
progress through the process of buying a home. Everyone already knows the big picture, of
course, but in many ways it's dissimilar from other large purchases they are used to making.

What first time homebuyers experience does differ from other purchasing situations. How it
does is something the National Association of REALTORS ® seems to have accidentally answered
through their latest study of homebuyers and sellers. The NAR was trying to determine what
buyers want from their agents. To answer that, they compiled homebuyers' “five biggest
expectations.” To me, these

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