September 2012

Found 8 blog entries for September 2012.

homeworth_232 Selling your Dallas Home

Every Dallas Home sale is unique. Not only is the product being offered one of a kind - to the customer, it represents a gigantic, life-changing purchase. Usually, the only comparison economists site is with buying a new car, but in reality, that isn't even close. There is no production line creating new land.

Any home sale takes carefully thought-out advertising, the right price, and excellent exposure. When you are selling your house while still living in it, there is some additional juggling to be done. Then, especially if you have young children, there's that extra ball in the air to juggle!

Have no fear. There are tried-and-true solutions to that one!

Kids make messes (it's part of their job description) - yet

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foreclosure1_259 Dallas Foreclosures and Short Sales

Last month, the number of new foreclosures listed nationally barely crept upward -- even as average sale prices leapt dramatically. Realtytrac compiles the numbers, and they show a sizeable 10%+ jump in foreclosure sales prices from July to August. Of course, homes listed as foreclosures and short sales still close at prices markedly lower than homes sold in traditional transactions, but that rise in price seems to say that more buyers are feeling confident that a home purchased now will look like a wise move in the future.

If you have been looking at the distressed property market in the Dallas area, these numbers suggest that the short sale and foreclosure possibilities are still being created -- and that the

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nottodo_231

1) Not getting pre-qualified for a loan before you search for a home.

Getting pre-qualified for a loan by a professional lender will let you know in advance how much mortgage you can afford. This allows you to make an offer on your home with confidence funding is available.

2) Not being honest with your realtor or lender up front about your credit.

Your credit-- whether good, bad, or limited--affects everything from your down payment to interest rates. Your realtor or a professional mortgage consultant can often advise you as to how you can get credit problems cleared up or completely eliminated from your credit report before you apply for financing or make an offer on your home.

3) Not negotiating with the owner to provide a home

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newconstruct_274    Dallas New Home Construction

Newly Dallas built homes may make up a relatively small part of our overall housing market, yet I think Dallas homeowners have to be encouraged by the trends we are seeing. This month, the National Association of Homebuilders reported that construction spending has turned up (“A Housing Recovery is Gathering Steam”) after its long slide. In August, the Commerce Department reported that overall sales have jumped 25% over the past twelve months. So far, so good.

Yet it's still true that many observers (I'm one) think that these encouraging numbers would be a lot better if it were easier to finance home purchases…particularly for previously occupied homes. New homes have an advantage right now in this department. At a

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buyingoptimism_480

The other day I read an opinion piece that I really couldn't agree with. The writer expected a pause in the pace of the residential market upturn now that many of the most obvious bargains have been snapped up. He thought that was to be expected, and that a further rebound would be likely to follow. His idea was based on the notion that many otherwise well-qualified prospects - buyers who may have narrowly missed the bottom of the market -- would now be waiting for prices to fall again. They would only reappear once they realize that those super bargains were a once-in-a-lifetime affair.

I'd have to say, 'not so much.'

In my experience, individuals who are even half-serious about buying homes in the Dallas area are usually not motivated by

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downsizing_269

Buying vs Renting

A new report that just came out, states that buying beats renting in all major cities.  With rental rates on the the rise for the last 2 years, and low home prices and low interest rates, make it cheaper to buy than to rent. 

This has been especially true for the Dallas Real Estate market. 

- Avg Rental Price for 3bd home in a good neighborhood: $1550 

- Avg Monthly Payment to own a similar home:  $1350 (includes taxes and insurance) 

Also home ownership has many other advantages, like tax write off's on mortgage interest and property taxes. 

If you're looking to buy a home in the Dallas area in the next 6 months give us a call or email us, for a free consultation. 

Read the full article here

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downsizing_269 From the moment you unpack the last carton after moving into a new home, an inexorable process begins. I'm talking about the inevitable accumulation of things: useful things, pretty things, things with little more than sentimental value -- and a lot of things that actually have no value at all!

It really doesn't matter how long you have lived in your house. After the first few months, every busy family collects a mountain of stuff. Then, when it comes to selling your Dallas home, dealing with it in earnest is a real chore. It has to be done for at least two reasons.

First off, a junk-free home is more attractive to potential buyers. It helps avoid the impression of a 'too lived-in' house. It makes rooms seem larger, and by downsizing the personal

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homeprices_240

Dallas Home Prices are up over last year. 

Due to very low interest rates and an increasing economy, Dallas Home Prices have risen 3.8% from where we were a year ago.   This also represents the strongest growth in the last 6 years.  This is a great sign for the Dallas Real Estate market and anyone that's looking to purchase a home this year. 

Interest Rates are expected to stay where they are, till the end of 2012, and go up from .25 to .5pt in 2013.  FHA loans are still available with low interest rates and minimum down payment requirements. 

If you're ready to take your first step towards home ownership give us a call or email us back.

Read the full article here http://www.inman.com/news/2012/09/4/home-prices-post-strongest-growth-in-6-years

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