Save over $485,000 off Tax Assessed Value of New Construction Home

NEW CONSTRUCTION FORECLOSURE on over 3 acres!!! Fabulous 6 bedroom home with 4 bedrooms down, and 2 bedrooms up along with game room, card room, media room, wet bar & balcony. Kitchen features additional veggie sink, pot filler, 2 dishwashers, built-in refrigerator,plenty of cabinets & counter space. Master suite offers a luxurious bathroom, fireplace in bedroom and a large closet. Study with numerous built-in’s. Great Opportunity!! 7,617 square feet offered at $849,000.  The tax assessment for this home is $1,334,056 for 2009!   Call Teresa today for your exclusive tour 214.475.01957.

Article by NewHomeGal, Teresa Robinson, Owner/Agent
Contact Teresa at 972.335.0571 or Teresa@NorthTexasHomeFinders.com  Visit www.northtexashomefinders.com for more information.  For community-specific information, also visit www.BuyProsper.com for added content.  Interested in a free market snapshot of your community?  Visit www.dfwhomeexperts.com and sign up today!
Robinson Team

Hot NEW Foreclosure in Savannah, TX

This home was just put on the market today. It’s listed at $109,900, $45,796 below tax value!

 Denton ISD

Built in 2005

1906 sf

3 BR (master plus one up, one down)

3 BA

Fireplace

Huge Living Room

Huge Master (19′ x 14′)

Formal Dining

Large Kitchen with Island

Sold AS-IS

To negotiate the best deal on a new home in Providence, contact us at Amy@Northtexashomefinders.com, or visit us at www.NorthTexasHomeFinders.com.

Article by Amy Underwood, Owner/Agent

972-921-8787

North Texas Area Home Sales 2nd Quarter 2009

Compared to much of the nation, north texas real estate remains in good shape.  Homes are selling.  If you’ve been waiting to put your home on the market, time is wasting.  Many folks are trying to get into their new place before school begins.  There are only a few weeks left.

Check out this link, courtesy of the Dallas Morning News.  It’s an interactive map giving the percentage changes in several key categories, % sales, median home price, days on market, etc.

http://www.dallasnews.com/sharedcontent/dws/graphics/homesales/092q.html

 Chad Underwood, Owner/Broker, www.NorthTexasHomeFinders.com, Chad@NorthTexasHomeFinders.com

Amazing Foreclosure Deal in McKinney Save Over $260K from Proposed 2009 Tax Value

Ran across this one and couldn’t help but share it!  Beautiful Luxury Home located in McKinney Texas.

2009 Proposed Tax Value of this home per Collin County is $652,580. 
Current asking price of the home is $384,000.  Save $268,580!

This executive luxury home is 4,452 square feet featuring 5 bedrooms, 4 full baths, 1 half bath, media room and game room.  Master bedroom, guest room, and study are located on the 1st floor.  You will love all the attention to detail with the stone elevation, elegant landscaping, extended ceramic tile, hardwood floors, gourmet island kitchen with granite counters, stainless steel appliances, butlers pantry and service bar.  There is also a large tiled covered patio with fireplace and spacious backyard.

This home is a must see and won’t last long.  Call Teresa at her cell 214.475.1957 to schedule your exclusive viewing of this property!

Article by Teresa Robinson, Owner/Buyer Specialist, North Texas Home Finders Contact Teresa at 972.335.0571 or Teresa@Northtexashomefinders.com and she can help you sell your home or find a new one!

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.

Teresa Robinson is one of more than 400,000 members of the Real Estate BUYERS AGENT Council (REBAC) of the National Association of Realtors, who have attended the ABR, Accredited Buyer Representative, designation. As the world’s largest association of real estate professionals focusing specifically on representing the real estate buyer, REBAC is ”The Voice for Buyer Representation, ” with more than 44,000 active real estate professional members of the organization throughout the world.

Save $166,000 off 2008 Tax Value with This McKinney Foreclosure

WOW!!!  Found this Foreclosure deal and had to spread the word! 
2008 Tax Value $511,000
Listing Price $345,000  that is $166,000 below tax value!!!

Amazing Deal on Luxury Home!!

 

 

 

 

 

 

 

Foreclosure in McKinney.  Drees home built in 2006 with 4 bedrooms, 4 baths, and 3 car garage on .24 acres.  4,717sf in a cul-d-sac location in Stonebridge Ranch.  Master and study downstairs, 3 bedrooms, gameroom, and media room upstairs.  Features include: granite countertops, hardwood floors, plantation shutters.  Appliances have been removed from the home.  Remember this is a foreclosure sale, so the home is being sold AS-IS with no option period.

This home will not last at this price.  Call Teresa today at 214.475.1957 to schedule your exclusive viewing of this home!   Serious inquiries only please.  Remember if you are already working with a Realtor, we cannot help you.  We are Buyer’s Representatives that help you find the best home and the best price.  Our services are Free to you as the seller pays our fees!

Article by Teresa Robinson, Owner/Buyer Specialist, North Texas Home Finders  Contact Teresa at 972.335.0571 or Teresa@Northtexashomefinders.com and she can help you sell your home or find a new one!

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.

Teresa Robinson is one of more than 400,000 members of the Real Estate BUYERS AGENT Council (REBAC) of the National Association of Realtors, who have attended the ABR, Accredited Buyer Representative, designation.  As the world’s largest association of real estate professionals focusing specifically on representing the real estate buyer, REBAC is ”The Voice for Buyer Representation, ” with more than 44,000 active real estate professional members of the organization throughout the world. 

Should I Buy A Distressed Property?

Confused? Learn what’s what, and what to expect.

Many people think buying a home in “distress” means they’ll get a great value. This is not always the case – distressed properties often have challenges not typically found with a traditional real estate transaction.

 Things to be aware of:

• Lenders are overwhelmed in this market, so expect the process of buying a short sale or an REO to take several months (after you make an offer).
• Multiple offers are often made on one property. Even if your offer is competitive, if lender receives what they perceive to be a “better” offer, you could be out of the running all together.
• Always remember: until your offer is accepted by the lender, there is no contract. That means even if your short sale offer has been “accepted” by the seller, there is still no contract until the lender has given its approval. Similarly, if you are making an offer on an REO property, there is no contract until the lender accepts.

 So, if you’re the kind of buyer who…

• Is not in a hurry to purchase your next home.
• Is comfortable with some uncertainty about that purchase.
• Is willing to search through dozens of listings in hopes of finding a good deal…

…then include searches of foreclosed or short sale properties in your next

online search!

When a homeowner is behind on his or her mortgage, or already in default, the mortgage holder (aka lender) has many options, including allowing the home to be sold for an amount less than what the home owner currently owes(also called a short sale), and foreclosure.  Buying a short sale or REO property is a complex process. The overview below is intended to give you an idea of what you may face if you decide to pursue a purchase of a distressed property. You should always discuss the process in detail with your REALTOR® before making an offer. Here is an overview of the most common distressed situations and how you can work through them:

 Short Sale Properties

 A short sale usually occurs when the homeowner either knows they can no longer afford the home and is facing a default on the mortgage, or has already defaulted and is facing a foreclosure. A short sale will happen when a property is sold for an amount that is less than, or “short” of, the current pay-off amount of the mortgage.

 Before making an offer on a “short sale,” please keep the following in mind:

• Any offer must be approved by seller’s lender.
• Because of the required approval process by the lender, closings on a short sale are often delayed by several weeks, if not months.
• A lender may not agree to, and thus change, the terms of the agreement made between the seller and the buyer.

Foreclosure Properties (i.e., REO, HUD, Fannie Mae)

What is a Foreclosure/REO?

 If a homeowner has defaulted on the mortgage, the lender has the option of initiating a foreclosure against the property. If the homeowner is unable to pay the past-due payments or sell the home as a traditional sale where the mortgage is paid-off in full, or as a short sale, the foreclosure of home will be complete and the property will be put up for sale at an auction. In the event that there are no bidders at the auction, the lender will end up as the new “owner” of the home. Lender owned properties in this situation are known as REO (Real Estate Owned) properties.

 Lenders take the homes “as-is,” meaning that REO properties will often need to be repaired. But the benefit of purchasing an REO property is that you may find some good deals!

 Issues to watch out for:

• The lender most likely will not agree to make any repairs to the home.
• The lender may require you to financing with them.
• While most REO properties are already vacant, there is a possibility the lender is still in the process of having the former owners evicted. This could result in a delay in closing, and may also increase the price.

Chad Underwood, Owner/Broker, Chad@NorthTexasHomeFinders.com, www.NorthTexasHomeFinders.com.

Buying a Foreclosure? Read these 5 Possible Deal Breakers

Foreclosures can seem appealing, but they are often full of hidden surprises. It is important to know how these common problems may turn your bargain into a potential money pit.

Some possible problems to look for are:

1. Mold– This hidden problem may not be readily evident when looking at a home. A professional home inspector should be hired before closing  to determine if the home has mold. If mold is present, the mold removal may or may not be worth the time or money needed to make the home livable. Most mold is due to leakage, so plumbing, foundation and roofing may also be compromised. It is crucial to get a home inspection on a foreclosure.  It may cost you a few hundred dollars, but could save you thousands of dollars in the long run, especially when mold is concerned.

2. Vandalism/Break-ins-Believe it or not, most of the vandalism on a foreclosed home is caused by the former homeowners.  When they find out they are going to lose their home, they often get angry by punching holes in the wall, breaking windows or just trashing the house.  Homes that are vacant are also more vulnerable to break-ins. Thieves often steal copper tubing to sell for scrap, or take appliances, and air conditioning units.

3. A Parting Gift-  Besides damaging a house, many former owners will take everything they can with them when they move out. It is not uncommon to see missing toilets, cabinets, carpeting, light fixtures, and appliances.

4. Wild Animal Habitat– Abandon houses make great homes for all types of wild animals. With overgrown grasses, snakes can be a concern. Bats can inhabit dark damp attics, and fire ants can run rampant when not treated on a regular basis.  Rats and insects are also very common in homes that have not been treated in a while.

5. Maintenance Neglected– Home maintenance will be stopped when payments are not being made.  Mechanical systems like air conditioners and heating systems are not being serviced regularly, so their effectiveness may be compromised.  Ventilation systems that are not cleaned, can also lead to mold damage, as well.

A foreclosure may or may not be the best option for you. First of all, get a home inspection before purchasing. You will have to determine if the home is worth the extra time, money and headache to make it livable. It may make more sense to spend a little extra and get a home with no problems. If you are a first time homeowner, you should be extremely cautious because you don’t want to overextend yourself with costly home renovations.

Please contact Amy Underwood at North Texas Home Finders, if you are looking to purchase a home. E-mail: Amy@NorthTexasHomeFinders.com  Phone: 972-921-8787 or visit us at www.NorthTexasHomeFinders.com. Please put “Amy” in the “How Did You Hear about Us Section.”

Is a Foreclosure the Right Choice or Best Deal?

Many clients I speak with lately are making assumptions.  We all do it, and it’s usually based on things we read and/or hear.  One of the assumptions that’s pretty common right now is that in order to get the best deal in buying a home in Dallas / Fort Worth suburbs like Frisco, you need to buy a foreclosure.  Sometimes that assumption turns out to be correct.  Sometimes it does not.

It would be nice if I could just tell you that the best deals are foreclosures, so that’s all we’ll look at.  However, I’d be doing you a disservice if I took that approach.  The fact of the matter is that depending on your needs the best deal could be a foreclosure, it could be an owner sale, or it could even be a home being sold by a builder.  The thing I’ll promise you is this — if you are working with the right agent, they will figure that out for you and explain the reasoning behind the conclusion.

This morning I heard a discussion on the radio involving the “Smart Car”.  You know what I’m talking about — those cars that look like golf carts on steroids.  For a while there, they were all the rage.  Four dollar a gallon gasoline will do that.  I ASSUMED these cars must get unbelievably good gas mileage.  I found out today they get 33 miles per gallon in the city / 41 miles per gallon on the highway.  I was shocked!  My Toyota Avalon, not a small car, gets 30 miles a gallon on the highway!  I guess that proves that assumptions are sometimes way off.

If you are looking for a great deal on a home in D/FW, a foreclosure might be the way to go.  Just as likely is a scenario where you buy a home that’s not a foreclosure.  The key is not to assume anything.  Find a great Realtor to represent you as the buyer, and have them evaluate your specific situation.

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.

Short Sale Opportunity on Luxury Greenspoint Home in Prosper, TX

This lovely home has finished the short-sale process and bank needs a firm $319,000 offer asap. Tax rolls show this home to be valued at $413,000.00.

5 bedroom

3.1 Bath

3 car garage

Game

Study/Library

Media

Come home to luxury and comfort in this custom crafted builder’s home. Every detail is perfection, including hand-scraped wood floors, upgraded carpeting, oversized slate-like tile, wrought-iron spiral staircase, granite counters, faux finishes, oversized media, and so much more! Must see to believe!

If you would like to take advantage of this opportunity, please contact Amy Underwood at 972-921-8787 for a showing. You may also e-mail me at Amy@NorthTexasHomeFinders.com.  Our services are offered free of charge!

Short Sales, Foreclosures, How do I get one?

With the current economic and real estate climate, many people think that buying a home in “distress” guarantees that they are getting a great value. However, unless you are educated in the process, distressed properties can have challenges not typically found with a traditional real estate transaction. Learn the differences and a few things to consider below.

Short Sale Properties

A short sale occurs when a homeowner is either behind on his or her mortgage or already in default and the mortgage holder/lender exercises their option to allow the home to be sold for an amount less than, or “short” of,  what the home owner currently owes. 

 

When making an offer on a “short sale,” please keep the following in mind:

·         The offer must be approved by seller’s lender.

·         Because of the required approval process by the lender, closings on a short sale are often delayed by several weeks, if not months.

·         A lender may not agree to, and thus change, any terms of an agreement made between the seller and the buyer.

Foreclosure Properties

(i.e., REO, HUD, Fannie Mae)

When a homeowner defaults on their mortgage, the lender has the option of iniating a foreclosure against the property. If the homeowner is unable to pay the past-due payments or sell the home as a traditional sale where the mortgage is paid-off in full then the lender will start the foreclosure process on the home and the property will be put up for sale at an auction.  If there are no bidders at the auction, the lender will end up as the new “owner” of the home. Lender owned properties are also known as REO (Real Estate Owned) properties.  In these cases, the lenders take the homes “as-is,” meaning that foreclosed and REO properties are often in need of repairs.

 

When interested in a foreclosure, please keep the following in mind:

·         The lender typically does not agree to make any repairs to the home to facilitate the sale.

·         You may be required you to finance with the lender who owns the home.

·         Although most foreclosures are vacant, there is a possibility that the lender is still in the process of removing the formers owners. This could result in a delay in closing, and may also increase the price.

Things to consider:

·         Purchasing these types of property will take some time.  Lenders, in general, are overwhelmed with the changing market conditions, so expect the process of buying a short sale or an REO to take several months (after you make an offer).

·         It is common to have multiple offers on one property. Even with a competitive offer, if a lender receives a “better” offer, you’re offer may be overlooked completely.

·         It’s important to remember that until your offer is accepted by the lender, there is no contract.  So, even if your short sale offer has been “accepted” by the seller, there is still no contract until the lender has approved it. Similarly, if you are making an offer on an REO property, there is no contract until the lender accepts.

 

            Is it right for you?  If you’re the kind of buyer who…

o   Is not in a hurry to purchase and move into your next home…

o   Is comfortable dealing with some uncertainty about that purchase…

o   Is willing to search through dozens of listings in hopes of finding a good deal…

            …then a foreclosure, short sale or bank-owned property may be a good option for your next home!

 

Call THE ROBINSON TEAM today at 972-335-0571!

We’d love to help you find a great deal on your next home!

rticle 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. Need help with a pre-owned home, we do that too! Visit www.northtexashomefinders.com for more information.