Giving Thanks – Our Perspective

This is a time when many of us pause and reflect on the things we are thankful for.  In our personal lives, those of us at North Texas Home Finders have many blessings to count.  From a business standpoint, I think it’s important to be thankful as well.

First of all, I’m thankful for my business partners at our company.  My wife is a real estate genius and can find deals like no one else.  Chad and Amy are extraordinary business partners.  Each of us agrees that the best way to run a real estate company in North Texas is to treat people right, tell them the truth at all times, and negotiate great deals for them.  We know that our beliefs will lead to tremendous success for our business.

Finally, I want to say thank you to all the clients that have trusted us to help them make a huge decision in their life.  Buying a home is a huge investment, and we are honored that so many people want us to help them through that process.  We have had the opportunity to meet many people this year, and we’ve been fortunate enough to also count many of our clients as new friends.

Happy Thanksgiving to all the home buyers in Dallas/Forth Worth!

Article by W. Cody Robinson, Owner/Buyer Specialist, North Texas Home Finders

Contact Cody at 972.365.0432 or Cody@NorthTexasHomeFinders.com

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.  We also work with preowned homes where the seller pays our fees!  Visit www.northtexashomefinders.com for more information.

Want a Big Yard? How About an Acre or Two?

Over the last couple years, I’ve had several clients who wanted lots of room between their house, and their neighbors.  Whether on the east side, west side, or to the north or south of Dallas/Fort Worth, there are some fantastic custom homes on acreage lots.  The surprising part about these homes are the price points, and their proximity to the heart of the metroplex.

To buy a custom home on acreage you would probably expect to pay upwards of $500,000.  Those places exist, and can be found.  However, there are also homes on an acre or acre and a half for around half that price.  Granted, the closer you get to Dallas or Fort Worth, the higher the price.  Real estate has, and always will be, about location, location, location.  However, if you are like me, you’re willing to drive a little farther to get a lot more home for the same money.  When I say “a little farther” I don’t mean sixty miles out.  Many of these home are located within 30  to 40 miles from the downtown Dallas and Fort Worth.  Where are these homes you ask?

The best deals I’ve found, surprisingly, have been on the east side of Dallas.  West is usually best for affordability, but not in this case.  In Rockwall, Collin, and western Hunt county, you can have a brand new home on an acre or acre and a half for $225,000 to $275,000.  In one neighborhood in particular, I’ve had two clients buy on an acre and a half, around 2700 sq ft., with an additional two-car detached garage, at $250,000, and at $270,000.  One builder out there has homes that resemble homes in the half million dollar range for under $300,000.

 To the west, you will find beautiful custom homes from probably a dozen different builders.  These homes in western Tarrant, and eastern Parker counties have beautifully finished homes from $250,000 to $400,000.  These homes have all the amenities you could ask for, and then some. In my opinion, the homes out west have the nicest features and the prettiest lots of all the acreage communities.

South of Fort Worth there are several areas in southern Tarrant and northern Johnson county.  Homes there range from $250,000 to $400,000 as well.  Many of the neighborhoods down south feature rolling plains, and beautiful views in all directions.

Finally to the north, in Collin county, you will find homes on an acre or more from $300,000 to $450,000.  In the north, you can easily get a lot more expensive in a hurry.  However, if you know where to look, great deals can be had.  Homes in this area also boast some of the best school districts around.

If you would like to learn more about any or all of these locations, please do not hesitate to contact me at North Texas Home Finders.

Good News For Potential Home Owners..Rates Cut Today!

Good News for potential home owners!! Today, mortgage rates dropped below 6 percent for 30 year fixed-rate, conforming mortgages, after the Feds announced that they would buy up to $500 billion of securitized home loans. Many brokers and bankers reported rates falling as far as 5.25% for a while.

Bob Walters, chief economist for Quicken Loans said “This is going to have a major effect on refinancing opportunities and it should absolutely translate into increased home buying.”

A  hypothetical example of a house that has lost $175,000 in value over the last couple of years. In 2006, a borrower would need a $500,000 mortgage to buy the house; today, a borrower would need $325,000.

The average rate on a 30-year fixed was about 6.5 percent two years ago. At 6.5%, the principal and interest on a $500,000.00 was $3,160 a month.  Now, if someone borrowed $325,000 at 5.5% percent, the monthly principal and interest would be only $1,845.

The Fed’s action will not only help home buyers, but also homeowners with adjustable-rate mortgages who want to refinance into fixed-rate loans.

With an abundant inventory of homes, combined with current low rates, it’s a great time to purchase a home!

If you are intersted in buying a home, or need advice, please feel free to call Amy Underwood at 972-921-8787. Please visit our site: www.NorthTexasHomeFinders.com. Put “Amy” in the “How Did You Hear About Us.”  As always, a buyer’s agent works for you at no charge, so why not call us today!!!

Hot Home Deal Save $91,100 Off List Price!!!

Wow!  This one is smoking hot!    Was $421,000     Now $329,000

 

New construction in McKinney ready for immediate move-in.  Take advantage of this builder closeout! This is a custom home featuring 4 bedrooms, 3.5 baths, 3 car garage, media room, game room, home office in 3606 sf.  You will love the attention to detail in this home starting at the iron front door, oak kitchen cabinets, granite countertops, bronze hardware, stainless appliances, hand scraped hard wood floors in entry, nook, and kitchen.  Great McKinney location.  This one is a must see and won’t last long.

 

Hot Deal in McKinney

 Call 972.365.0432 today to schedule your exclusive viewing of this beautiful home!  If this home doesn’t meet your needs, remember we have access to hundreds of homes not in MLS at great prices.  Let us Find your next home!

 

 

Top 3 Ways to Get a Great Deal on a New Home

In this market, everyone wants a great deal.  My favorite thing about representing buyers of homes is getting them a great deal.  I get questions all the time about HOW exactly to get those deals, especially on new, never lived in homes in popular areas like Frisco, McKinney, Prosper, or Keller.  I’ve found that there are certain situations that really benefit the new home buyer.  Based on my experiences, here are the top 3 ways to get a great discounted price on a new home in the current market:

3)  Use a Realtor that specializes in representing buyers, and one that is familiar with the process of buying new homes.  Many Realtors spend most of their time either listing homes for sale, or helping buyers purchase homes in the resale market.  If you want a new home, find someone that knows the builders in your area.  An added bonus would be someone that may have some connections with those builders — the ability to jump a level or two straight to management to negotiate the very best price for you.  Most of us want a great deal, but not many of us realize that if you have a professional working for you, and in your interest, it could save you thousands of dollars on a new home.

2)  Buy a Foreclosure!  Yes, a foreclosure on a brand new home!  Usually you think of foreclosures as they relate to pre-owned homes.  The fact of the matter is that there are many new, never lived in homes available that have been foreclosed on.  Some are because the builder ran into financial difficulty.  Others are homes that were purchased by either owner-occupants or investors, never moved into, and now in foreclosure.  The key in this situation is to go into the process understanding that it can be a little frustrating dealing with banks.  If you are willing to deal with that, however, you can pick up great deals.

1)  Time it right with a Builder.  Timing is everything.  Many new home builders in North Texas and the Northern suburbs of Dallas/Fort Worth in particular are offering great incentives for buyers.  Year end is also fiscal year end for some builders.  Sales figures are down when compared to a year ago.  In many cases there have been management changes at the builder.  Many communities are in “close-out”.  There are still homes that are in inventory, costing the builders carrying fees each day they sit without being sold.  When you combine all these factors, this is a great time to scoop up a deal on a new home, even in sought after communities like Frisco, McKinney, and Prosper.

Buying a new home is exciting.  Getting a great deal on that new home is even more exciting.  The key is to understand the market at any given time in your particular area.  Once you have that understanding and you find a Buyer’s Representative to help you, the rest is gravy!

Article by W. Cody Robinson, Owner/Buyer Specialist, North Texas Home Finders

Contact Cody at 972.365.0432 or Cody@NorthTexasHomeFinders.com

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.  We also work with preowned homes where the seller pays our fees!  Visit www.northtexashomefinders.com for more information.

Real Estate Terms- Part 10

Terrazzo Flooring
A sturdy flooring finish of marble chips mixed with cement mortar. After drying, the surface is ground and polished.

Tillable Acres
Arable: (of farmland) capable of being farmed productively

Timber Farm
A privately owned forest managed on a multiple use basis with timber production as an important management goal.

Timeshare
Ownership that involves the acquisition of a specific period of time or percentage of interest in a vacation home or resort.

Title
The evidence one has of right to possession of land.

Title Insurance
Insurance against loss resulting from defects of title to a specifically described parcel of real property.
Title Search
An investigation into the history of ownership of a property to check for liens, unpaid claims, restrictions or problems, to prove that the seller can transfer free and clear ownership.

To Be Built
Shall be listed as Residential properties only if a plan has been selected, selling price established, and the database entry labeled in the Year Built Description field.

Toilets
The number of toilets/stalls in a building.

Topography
The state of the surface of the land; may be rolling, rough, flat, etc.

Topography Map
A map displaying the state of the surface of the land; may be rolling, rough, flat, etc.

Total Annual Expenses
All expenses for the year added together.

Total Appx. Net Rentable Space
In a building or project, floor space tha tmay be rented to tenants; area upon which rental payments are based.

Total Assessment Value
The assessed values for the land and building added together.

Total Available Space
The whole area available to lease by the tenant.

Total Debt Ratio
Monthly debt and housing payments divided by gross monthly income. Also know as Obligations-to-Income Ratio or Back-End Ratio.

Town House
A dwelling unit, generally having 2 or more floors and attached to other similar units via party walls. Town houses are often used in planned unit developments and condominium developments, which provide for clustered or attached housing and common open space.

Triple Net (NNN)
Lease under which the tenant pays all operating expenses of the property. The landlord receives a net rent.

Triplex
A building with three apartment or town house units.

Truck Crop Operation
Farming food crops such as tomatoes, potatoes, peas, etc.

Truth-in-Lending Act
A federal law requiring a disclosure of credit terms using a standard format. This is intended to facilitate comparisons between the lending terms of different financial institutions.

Turbines
Device that converts the flow of a fluid (air, steam, water, or hot gases) into mechanical motion for generating electricity.

Type of Home Allowed
The type of dwelling allowed by deed and/or land restrictions.

Under Construction
A property where the construction has begun on the dwelling, but is not complete.

Underground Utilities
Utility lines are dug and buried underground.

Unit #
In multifamily residential property, a suite of rooms making up a residence for 1 tenant. It is generally characterized by a private entrance and some method of individuality from other units in the building or complex.

Unit Mix
The number of bedrooms and bathrooms per unit.

Unit Style
Description of the individual unit available to possess.

Universal Land Use Code
Finally, since coding systems vary county-to-county (and state-to-state), First American CoreLogic offers a “Universal Land Use” coding system that enables users to employ a simplified and consistent coding system for their searches in all counties. The Universal Land Use code is routinely featured on Realist searches and data presentations as a drop list.

Updated A/C Unit (≥13 Seer)
The A/C unit has been recently replaced with a unit that is rated 13 SEER or higher.

Updated/Remodeled
To change the appearance and functional utility of a building. This may include painting, repairing, and replacing of fixtures and equipment.

Urethane
A synthetic chemical structure formed by one of three specific chemical reactions. See Polyurethane.

Utility Easement
Use of another’s property for the purpose of laying gas, electric, water, and sewer lines. .

Vacancy Amount
The amount of the property that is not currently leased by tenants.

Variable Rate Commission
The commission being paid to the Buyer’s Agent has a variance. This could go higher or lower than the commission being offered.

Vaulted Ceiling
A ceiling formed in any variety of curved shape, which arches above the floor within a home.

Vermiculite
One off a group of micaceous hydrated silicate minerals related to the chlorites and used in lightweight insulating concrete.

Vertical Siding
Any finishing material that covers the outside walls of a frame building. Can be made of wood boards, aluminum, steel, vinyl or any other length of material that can be attached in a repetitive manner on outside walls hung vertically.

Veterans Administration (VA)
A government agency guaranteeing mortgage loans with no down payment to qualified veterans.

Veneer
Wood or brick exterior that covers a less attractive and less expensive surface.

Vertical Siding
Any finishing material that covers the outside walls of a frame building. Can be made of wood boards, aluminum, steel, vinyl or any other length of material that can be attached in a repetitive manner on outside walls hung vertically.

Walk-in Closet
A closet measuring a minimum of 84″ wide by 72″ deep.

Water Access
The property has close access to a body of water, through the neighborhood.

Water Access Type
The type of access to the body of water close to the property.

Water District
Any district, including any multipurpose district, created by the private and special laws of the State to perform the functions of a water utility.

Waterfront
A waterfront yard is the yard adjacent to public waterways. Waterfront yards front bays, bayous, wetlands, lakes, canals, aquatic conservation areas, aquatic preservation areas and similar waterways.

Water/Well Test
A test that is conducted by a licensed well driller, a licensed pump installer, a hydrogeologist, or an engineer to determine the sustained production capability of the well.

Weight Limit – Ex-Large (over 50 lbs.)
Weight limit for the animal(s) in or on the property may be over 50 lbs.

Weight Limit – Large (over 50 lbs.)
Weight limit for the animal(s) in or on the property may be up to 50 lbs.

Well Needed
A well will be needed to supply water to the property.

Well on Property
A well is currently on the property.

Well Shared
A well that is shared among multiple properties.

Whole House Fan
A fan designed to move air through and out of a home and normally installed in the ceiling.

Wildlife Tax Exemption
A full or partial retraction of property from the tax base, based on animal life on the property.

Withdrawn (W)
The listing is no longer available. The contract was terminated before the expiration date.

Withdrawn Date
The date the status of the listing was changed to Withdrawn.

Wood Shake
Rough shingles split from a piece of log, usually cedar, used for roofing and siding.

Wood Shingle
Roofing material, usually made from cedar, which is tapered to fit one piece over the other.

Wood Under Carpet Flooring
Wood flooring that is currently covered by carpeting.

Xeriscape
Creative landscaping for water and energy efficiency and lower maintenance. The seven xeriscape principles are: good planning and design; practical lawn areas; efficient irrigation; soil improvement; use of mulches; low water demand plants; good maintenance.

Year Built
The actual date in time when real property improvements were placed into service, or when construction of the improvements was completed.

Year Built Description
Where the information comes from or any designations pertaining to the year built.

Years Established
How long as the property/business existed?

Years on Lease
The amount of years left on the current lease of the property.

Zero Down
General term referring to real estate acquisition strategies based on seller-provided financing and/or existing loan assumption and minimal use of cash down payments. It is a method of achieving maximum profits from real estate investments.

Zoned Air/Heat
Divide your central air/heat system into up to multiple zones for independent temperatures in various areas of your home.

Zoned
An area set off by local ordinance for specific use, subject to certain restrictions or conditions.

If you are looking for a home, please call Amy Underwood at 972-921-8787, or visit our site: www.NorthTexasHomeFinders.com Please put “Amy” in the ‘How Did You Hear About Us” section.

 

Hot Home Deal in McKinney

Wow!  Check out this hot home deal in McKinney.  New Construction, just completed!

McKinney Hot Deal

Was $169,695.  Customers of North Texas Home Finders Price $139,695!  Beautiful one story home in McKinney (Prosper ISD) featuring 3 bedrooms, 2 baths, open floor plan with 1527 sq ft., 2 dining areas, gourmet kitchen with black appliances and gas cooktop with built in over, brushed nickle hardware and lighting, rounded Sheetrock corners, upgraded carpet and pad, oversized garden tub and separate glass enclosed shower, pest defense system, full sod, full gutters, and sprinkler system.

If this home doesn’t fit your needs, call us.  We have access to the best builder deals in the Dallas/Fort Worth Metroplex!

To schedule your exclusiving viewing, call us at 972.335.0571 today!  Hurry this kind of discount won’t last long. 

 

Be Atypical to Succeed in This Market

I hear all the time how we are in a down market.  I run into other Realtors, and hear them complain of the lack of business.  Meanwhile, we are so busy we’re working 7 days a week.  Don’t get me wrong, it’s not easy — we work HARD!  And I truly believe that’s one of the things that separates those of us at North Texas Home Finders from many other Realtors.

This isn’t meant to slam other Realtors.  I just get very frustrated when I hear stories from clients about experiences they’ve had with others.  It seems like “typical” Realtors are lumped in with used car salesmen and personal injury lawyers in the court of public opionion.  Unfortunately, the feeling may be pretty close to accurate.  Many people in our industry lived like fat cats in the hot, hot market, didn’t work hard, didn’t really work all that hard, and didn’t provide excellent client service.  Now those same people are struggling in a market where hard work is a requirement, not a choice.

North Texas Home Finders is adopting a new motto/slogan:  “NOT Your Typical Realtors!”.  I think that sums it up perfectly.  We work hard for our clients.  We truly represent the best interest of our clients.  We are ethical.  We are moral.  We have great work ethic.  We expect our agents to provide a level of service that EXCEEDS our clients expectations.  We do all those things because we believe in all those things, and because of that, we will be successful in any type of market.  If you don’t believe me, give me a call and I’ll put you in touch with one of our clients…they are what keep us going, and their compliments are all we need as the ultimate motivation to be different!

For more information contact us today at 972.335.0571.

Article by W. Cody 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.  We also work with preowned homes where the seller pays our fees!  Visit www.northtexashomefinders.com for more information.

Time is Running Out!

If you want to put down less than 3.5% on a home, time is running out.  Beginning January 1st, 2009, the minimum down payment on an FHA loan will increase to 3.5%.  On a $150,000 house, that’s $5250.00 instead of $4500.00 (a difference of $750.00).  It doesn’t sound like a lot, but it can add up.  It’s also money that could be used for something else.  When  you move into a new home, there are many things to buy – a refrigerator, window treatments, furniture, etc.  That extra $750.00 will go a long way towards a new refrigerator, or new furniture.

If you want to buy a brand new home, now is the perfect time to ask for extras.  Many builders’ fiscal years end with the calender year, and others rely heavily on quarterly results.  November and December are great times to ask for freebies, provided your home will close prior to the end of the year.  In the past, I’ve been able to get clients a free washer and dryer, refrigerator, and blinds thrown in for a home closing in December.  We can also ask for more money off for a home closing by the end of the year – the builders will be aggressive on their discounts.  I’ve seen some recent discounts from 13% – 20% off the sales price. 

100% financing is still available, as well as repayment for a the down payment on an FHA loan.  For a full description of these programs, see my earlier blog, “With the current ‘Credit Freeze’ can I still buy a house?”  Good lenders are staying on top of the changes in the current market.  While it is more challenging, home loans are still available for qualified buyers.

6 Low-Cost Ways to Make Your Home More Energy Efficient

1. Replace Your Refrigerator:  Fridges that were purchased in 2001 as energy star rated are 30-40% less efficient as the 2008 Models.  I often recommend that clients needing a new fridge go to the Sears Outlet store. They offer the latest NEW appliances with minor cosmetic flaws (scratches/dents) at unbeatable prices. I bought my fridge, washer and dryer for 50% less than similar ones in the regular Sears store.

2. Caulk Your Windows.  Keep door and window frames airtight by regular caulking. The honeycomb type shades used on the inside also help keep heat from escaping into the room.

3. Solar Film and Shades. Even though they may not be very attractive, solar screens and shades can cut your energy costs. Most newer neighborhoods in TX don’t have trees, so these shades help reflect some of the harsh TX sun. The best time to buy these shades is when the weather is cooler and the shade companies need more sales.  Also, the winter is a great time to purchase a new more energy efficient AC unit!!

4. Invest in an Attic Fan. These inexpensive fans can make a big difference in the overall temperature of the whole house and keep your air conditioning unit from working so hard.

5. Change Your Air Condition Filter Monthly.  By doing this, you will minimize the wear and tear on your unit.  Keeping furniture away from air vents will also maximize the flow of air.

6. Invest in Shady Landscaping. Planting a large tree or bush outside a big window can shade your home from the sun’s rays and block freezing wind and rain. Low water plants can also decrease your water bill.

 

If you are intersted in buying a home, or need advice, please feel free to call Amy Underwood at 972-921-8787. Please visit our site: www.NorthTexasHomeFinders.com. Put “Amy” in the “How Did You Hear About Us.”  As always, a buyer’s agent works for you at no charge, so why not call us today!!!