You are currently browsing the monthly archive for April 2008.
Many of our clients get nervous about closing on their new home. I wanted to write a quick article today explaining why, if you have a great agent representing you, you should not worry at all.
First, understand that you’ve already been through the hard part. You’ve already found a wonderful new home, you’ve already negotiated a great price on that home, and you’ve already been fully approved for the loan. Those were the times stress could have been involved, not now!
Closing should be an exciting event. Your agent should review the Settlement Statement with you to ensure that all numbers are correct. Your agent should also help you review, along with the closer at the title company, the rest of the documents. Very rarely there are problems at closing, but they are almost always clerical problems that can be easily fixed. If there are other problems, you can rely on your Realtor to help you get them resolved.
Remember, you have a buyer’s agent representing you for a reason! Lean on them so that you can enjoy the day you get the keys to your brand new home!
Article by W. Cody Robinson
If you are looking to buy in Providence or Savannah, now is the time to buy!! These are just a few of the deals currently on the market as of 4/29 and sellers/builders are ready to deal:
Providence- 921 sq. ft.-Cute 2/1 bath Foreclosure- was listed at $91,000…NOW $82,000
Providence-1676 sq. ft.-Charming Cape Cod with front porch..built in ‘02, 3/2/2- Was $128K..NOW $114K
Providence- Brand NEW ‘07- 2000 sq. ft, 4/2/2 Listed at only 154K… before reduced pricing with www.northtexashomefinders.com
Providence- Brand NEW! 2800 sq. ft, 5 bedroom/3 bath home/game/media and wood floor entry..only 175K…before www.northtexashomefinders.com special pricing.
Providence-‘05 Built, 2000 sq. ft. 3 bed/2 bath/2 car at only $57.00 per sq. ft! Has wood-like (Pergo) laminate flooring. Foreclosure deal at $119K.
Savannah- ‘04 Built, 2000 sq. ft., 4 bedroom/2 bath..Almost new,Fantastic floor plan with enclosed sun room. Eat in kitchen. Great 42′ cabinets. Gas stove. Corner Fireplace. Covered front porch as well as upstairs covered balcony. Short Sale! Was listed at $175K..NOW $139K
* Featured Picture on Page- Savannah- ‘04 Built Deal of the month! 46.00 per sq. ft.!!!! 3126 sq. ft! 4/2.1/2 WAS 171K…NOW 144K Home w-4 BRs, 2.1 baths, 4 living areas.The 1st living area has a FP & is semi-open to the formal dining rm & kit.View the 4th living area or sunroom & the back yard from 1st-floor living area.Mstr BR is on the 1st floor & mstr bath has sep. vanities & separate shower & garden tub. 3 BRs & 2 living areas up.From the back, there is a view of the pond & fountain.
Please call Amy to see these properties or for more listing that fit your description. (940) 464-7530 See www.northtexashomefinders.com for more information.
You want to do your part to help the environment. Just like you look for ways to save money and create a healthy home for your family. With eSMART by Beazer Homes, they make all of these easier for you. Save energy, conserve water and improve indoor air quality…all while quickly reducing the operating costs of your new home.
Check out the products and planning that go into their eSMART homes. And live smarter.
Save Energy – As the need for energy conservation increases, Beazer homes is taking the initiative by designing and building more energy efficient homes. By carefully selecting products, materials and systems that use fewer natural resources, they are able to reduce the energy required to operate your new home, which can save money on utility bills.
· Honeywell Focus PRO 6000 Programmable thermostat
· GE Energy Smart CFL light blubs
· GE Energy Star Dishwasher
· Low-maintenance DuraPerm materials, re-engineered woods, fiber cement siding and synthetic trim
Conserve Water- Beazer’s goal is to help homeowners reduce water usage, which results in reduced energy costs to heat extra water, and reduced the wastewater that must be treated in a community.
· Specially designed shower heads and lavatory faucets by Moen can reduce water usage by up to 33%, saving on your energy costs.
· Energy Star dishwashers typically use 33% less water than non-qualified models.
Improve Air Quality- Beazer believes the air inside your home should be healthy to breathe. So they build homes with systems and materials that are not only more energy efficient, but also lead to healthier indoor air quality.
· Low VOC paints and carpets that are durable, cost effective and emit fewer harmful gases.
· Merv 8 air filters, which trap 10 times more particles than standard fiberglass filters.
· Air barriers behind fireplaces, bathtubs, and vaulted ceilings.
In some of their DFW communities, Beazer is offering additional energy savings packages that include:
· Tank-less water heater
· Tech Shield
· R-38 blown insulation in the attic
· Tyvek House Wrap
· Ceiling Fans in All bedrooms
· 14 SEER A/C Unit
· 2 inch Faux Wood Blinds
Article by Jim Shields, Area Manager, Beazer Homes and Teresa Robinson, North Texas Home Finders.
“Staging to Sell Your Home Tips”
Since North Texas is pretty much a buyer’s market now, it is crucial that your home stands out from the rest of the homes in the subdivision.
Studies have shown that most buyers make a decision about a house within 10-15 seconds of walking in the front door, and many will make a decision without ever getting out of the car. Also, remember that first impressions are crucial when selling your home.
Home Staging Tips for the Outside of Your Home
“Curb appeal” and home staging tips to improve it:
1) Eliminate all clutter. Trim back overgrown bushes, and generally do a thorough clean-up.
2) A fresh coat of paint goes a long way to making a house look good. Be careful not to pick too strong of a color. The idea is to appeal to the greatest number of buyers as possible.
3) Fresh sod or landscaping can make a major difference.
4) Eliminate any other negatives like oil stains on the driveway, and broken fence boards.
5) Putting out some some simple flowers in a pot on the front porch, and a new doormat can create an inviting feeling to buyers.
Home staging tips to improve the inside of the home also:
1) Eliminate all clutter. Homes look larger and more liveable without toys, magazines laying around. Many professional stagers have their clients move out entirely, and the stagers bring in their own items. Take all of the pictures off of the refrigerator, remove any stacks of paper on your desk, etc. Also, having a professional house cleaning service come in and do a thorough once-over is almost always well worth the cost.
2) Fresh paint can make a real difference. It is the frosting on the cake. Use colors that will appeal to the greatest number of people. You may prefer something bolder for yourself, but when selling a house, neutral-colored interior paints work best. Also, replace any worn carpets or other flooring. If you have hardwood floors that are in rough shape, having them refinished can often return many times the cost of the refinishing, and sell the home much faster.
3) In many parts of the country homes are shown with no window coverings at all. This creates an open and airy feeling.
4) Make sure there are no unpleasant pet or cooking odors. Some sellers now bake cookies for the open house, creating a warm feeling in they buyer’s mind.
5) Use size-appropriate furniture. If you have a small bedroom, don’t put a king-sized bed in there. If you have a huge master bedroom, putting a single bed in there would look out of balance, as well.
6) Leave the lights on even during the day to make the home as bright as possible.
All of these home staging tips are really geared towards making the whole package seem as pleasant as possible. One would think that buyers buy with their heads, but it’s often their hearts that make the decision.
Written by Amy Underwood, New Home Specialist and Owner.
Contact North Texas Home Finders if you are ready to buy a NEW home! Or visit www.northtexashomefinders.com for more information!
I was watching HGTV this weekend. I think we all do it from time to time and I was so shocked to see a couple that has been renting for over 20 years. They have paid out over $150,000 in rent over that time period, not to mention the taxes they have paid on their income. For that kind of money they could have a beautiful new home completely paid for by now! So how do you know when it is time to purchase a home?
1. If you plan to live in a city for at least 5 years, you should consider purchasing a home. Why put all that money in rent, when you can save money on taxes and build equity? Renting in this case is like burning money in the fireplace to keep you warm!
2. Look at how much you are spending to heat and cool your rental. If you are living in an apartment or older home, you are paying way too much. Today’s new construction homes are built with saving energy in mind. This also means you save money monthly too.
Not renting, but thinking it is time for something new? Many people feel the same way, but are unsure of when to actually take the next step. Here are some reasons our clients have taken the next step and changed their living situation:
1. The kids are off to college and the house seems too empty! Nothing is more fun than starting a new chapter of your life. You can make your home fit your needs now. No more playrooms with toys all over the house. You can finally get a home that has that craft room or yoga studio you have been dreaming about.
2. My utility bills keep getting higher and higher each year. It may be time to purchase a new construction home. These homes are built with the latest greenbuilding techniques that help save you $$$ and also help the environment too!
3. We have a baby on the way and no room for all the stuff! It is amazing how much stuff comes with such a small person. After just one shower, you no longer have room to walk around your home. It is time to look for something a little bit bigger.
4. This home is a money pit. Do you feel like every day is something new that has to be fixed or replaced? Might be time to consider a new construction home. These come with warranties so if anything goes wrong the builder takes care of it for you.
5. Interest Rates are still low. Believe it or not, our parents paid up to 18% interest to purchase their homes! The interest rates today are wonderful. You never know what will happen that could drive the rates up high again.
There are many more reasons to get serious about moving. Don’t wait another day. We can help you find the best home for your current situation at a great price!
Article by Teresa Robinson, Owner/Buyer Specialist, North Texas Home Finders
Get a Buyer Specialist and rest easy! The builder pays our service charge from their advertising budget which is built into every home they sell. Since these fees do not come out of the home construction budget, you cannot negotiate one penny of a better deal alone. Visit www.northtexashomefinders.com for more information.
Believe it or not, you can still get a NEW or Newer home in Frisco ISD under 160K, however most of these homes will probably be located in the city limits of McKinney or Little Elm. Not bad though! Most of these homes are in master-planned communities with pools, trails and plenty of playground equipment for the little ones.
Here are 2 examples of a current NEW home listing in McKinney/Frisco ISD:
1628 Square Feet
3 BR / 2 BA / 1 HB
1 Living / 2 Dining
3 Car Garage
2 Story Price WAS 174K..NOW 155K..You can’t beat that!! (Golf course style living at affordable prices, nestled near the shopping quadrant of Stonebriar Center. Enjoy great amenities such as a community pool, playground area and endless walking trails)
1586 Square Feet
3 BR / 2 BA / 1 HB
2 Car Garage
1 Story Price WAS 163K..NOW under 160K…(Golf course style living at affordable prices, nestled near the shopping quadrant of Stonebriar Center. Enjoy great amenities such as a community pool, playground area and endless walking trails)
Here are 2 examples of a current NEW(er) home listing in McKinney/Frisco ISD:
1782 Square Feet – built 2004
4 BR / 2 BA / 1 HB
2 Car Garage
1 Story Price 142,900…(Cute cottage style home! This home is very well maintained and is spotless. It is an open floor plan with the kitchen and breakfast open to the large family room with fireplace. Kitchen has black appliances including microwave,stove and dishwasher.The master bedroom is split from the secondary bedrooms.There is a very large backyard perfect for the kids. Don’t miss this fantastic home! )
1823 Square Feet- built in 2004
3 BR / 2 BA / 1 HB
2 Car Garage
1 Story Price 151K..(CHARMING HOME, WARM, COZY AND READY FOR A NEW FAMILY. ENTRY IS OPEN, FEEDS INTO LR-DR COMBINED AREA. WITH THIS PLAN YOU CAN DIVIDE THE ROOM OR OPEN IT UP INTO LARGE LR W-FIREPLACE. KITCHEN IS BRIGHT WITH WALL OF WINDOWS. OPEN BREAKFAST-KITCHEN AREA. MASTER BEDROOM HAS ENOUGH ROOM FOR SITTING AREA. SEPARATE SHOWER, GARDEN TUB AND DOUBLE SINKS IN MASTER.CAT5 WIRING RECENTLY INSTALLED.)
Please call at North Texas Home Finders Buyer Specialist today for more great deals!
We all love finding the perfect home to call our very own, but then reality sets in and we realize if we really want it, we have to pay for it. We learned many, many years ago that it is easier to prepare for that realization upfront and know what you are getting into before you get your heart set on something you simply cannot afford. The best way to prepare yourself is to work with a quality loan professional and get preapproved. Before contacting a mortgage company, take a few moments to gather up the following items, so you can answer all the immediate questions and discover your purchasing power within minutes instead of days.
1. 30 days of your most recent pay stubs.
2. 30 days of your most recent bank statements. This includes checking, savings, 401K accounts, etc.
3. Last 2 years of W2 statements from your employer or if self employed full tax returns for the last 2 years all schedules/pages.
4. Know your credit score. There are many free services out there. Take a look at your score. If it is below 600, try to maintain a clean 12 months of credit history (all payments on-time, no lates or slow pays). This will increase your chances for approval dramatically.
5. Phone number and contact name for Employment Verification and Rent Payment Verification. Sometimes these departments take a long time to get back to mortgage companies and can delay closings.
Depending on your circumstances, you may need more documentation. The above list is a good starting point, and in most cases what you will need to get your loan approved. If you are relocating, be sure to have a copy of your offer letter to give to the loan professional as well.
Article by Teresa Robinson, Owner/Buyer Specialist, North Texas Home Finders and Jason Pavle, Array Capital Investments
Get a Buyer Specialist and rest easy! The builder pays our service charge from their advertising budget which is built into every home they sell. Since these fees do not come out of the home construction budget, you cannot negotiate one penny of a better deal alone. Visit www.northtexashomefinders.com for more information.
With millions of people moving this year, even the most organized person will probably not be able to remember every detail of the move – or every item. Mayflower suggests adding these 10 points to the top of your moving preparation list:
1. Medical Records: Don’t forget to obtain your records from the dentist, dermatologist, vet, and any vaccine/immuniation information from your primary care givers.
2. School Records: Your child’s permanent school record can’t follow him for life if left behind. You will need this when you enroll at the new school too.
3. Old Phone Numbers: Save money on directory assistance by packing a local phone book. The longer you have been away the harder it will be to remember those numbers.
4. Local Business Errands: Don’t forget your dry cleaning! Also remember to close out your PO box.
5. Your New Address: Write it down and keep it in your wallet. It will be too hard to remember at first and you will need it to forward your mail, bills, magazines, and give to friends and family.
6. Garage Door Opener: Take it out of the car and leave it for the new owner/tenant. Don’t forget to reprogram your homelink on your car too.
7. Don’t forget the pets! Many moving companies will not transport pets, so make arrangements for your fish, birds, dogs, cats, etc before the big day.
8. Safe Deposit Box Items: Open a checking account in the city you are moving to when you sign your purchase agreement, this saves time during the moving craze and gives you a chance to move the important documents ahead of time.
9. Spare House Keys: Be sure to collect them from the neighbors, family, friends, and behind the rock or other secret hiding place and leave for the new owners/tenants.
10. Cleaning: When you are packing, leave out some items to take care of the “finishing touches” before closing the door for the last time or make arrangements to have your home cleaned by professionals.
With the just a little bit of preparation, you can have a smooth successful move!
Article by Teresa Robinson, Owner/Buyer Specialist, North Texas Home Finders
Get a Buyer Specialist and rest easy! The builder pays our service charge from their advertising budget which is built into every home they sell. Since these fees do not come out of the home construction budget, you cannot negotiate one penny of a better deal alone. Visit www.northtexashomefinders.com for more information.
One of the fastest growing communities north of Dallas, Prosper, is poised for the next big population boom. Prosper’s growth just got a big shot in the arm last month. Dallas Cowboy owner, Jerry Jones, has teamed with Lincoln Property, Co. to begin marketing their 500-acre town center called the Gates of Prosper. The development will be located at the intersection of U.S. Hwy 380 and Preston Road (289). This intersection is considered one of the next big retail commercial districts north of Dallas suburbs.
The town center is set to feature 2.5 million square feet of retail space, office space, apartments and condominiums, plus a new municipal center for Prosper. The first 500,000 sqare feet of retail space is expected to open in 2011.
With the addition of the Gates of Prosper, the entire 380 corridor should share in the growth and appreciation expected for Prosper. Now is a great time to buy a new home, before the development commences
Here is some advice to avoid getting ripped off or falling for a costly Lease-to-Own gimmicks!
1. Confirm ownership of property offered as rent-to-own. – Who really owns the home offered as rent to own.? Be sure to confirm “your” new home can be offered as a lease to own.
2. Don’t fall for the “We’re not Realtors” line. – Why is it that many real estate investors without a real estate license and without any accountability for misleading comments or actions think it’s okay to state, “We’re not Realtors?” hmm..
3. Beware of FSBOs (For Sale By Owners) Offering Rent-to-Own. – Unfortunately, some well-intentioned “For Sale By Owner” sellers now offering rent to own can cause you a legal nightmare…unintentionally perhaps. They don’t know what they’re doing.
4. Don’t fall for the “I’m a Realtor; I can help you” line. – On the other hand, Realtors want to get paid. Some Realtors will claim expertise in any type of real estate transaction just to get a commission. Does the Realtor specialize in lease to own home opportunities?
5. Get the future purchase price in writing. – This is BIG…don’t accept a contract with a TBD future purchase price. Lock it in before signing anything.
6. Read all paperwork very carefully before signing. – This is self explanatory. Pay a real estate attorney to review the contract and advise you. If it’s a great deal, it will be there in a couple days.
7. Don’t Rush. – Again, this is self-explanatory. However, some professional sales people try to create urgency. Sign now. Give money now. Take your time…don’t rush.
8. Do the math. – Can you afford the home you desire? Many investors are setting people up for failure by advertising very low monthly payments, luring victims to failure. The investors know the low monthly payment advertised will get interest. They also know that the interested people probably won’t be able to afford the payment at the end of the lease term. Presto, they get the house back and keep the money. Nice racket, huh?
9. Separate the facts from the BS. – Ask lots of “What if…” questions. What happens if you’re not able to get financed at the end of the term? What happens if the house is worth more at the end of the lease term than the price on which you’ve agreed? What happens if the house doesn’t appraise for the agreed-upon sales price?
10. Don’t fall for the “rent credit” gimmick. – It’s a GIMMICK, if not a scam with some “rent to own” people. How? First, the monthly payment must be comparable to the monthly payment paid by a person with a mortgage or the underwriter will not accept it. Second, the $200 monthly rent credit x 12 months or $2,400 is simply added to the already inflated sales price. It’s a forced savings plan with money paid “upfront.”
Don’t get ripped off, and don’t allow the scammers to steal your dreams of owning your home.
Whether scams or gimmicks, you need to be aware of what some opportunists are doing to steal your hard-earned money while boasting they’re not licensed (meaning, you can’t go after them when they take advantage of you).
