HOMEBUYERS’ ADVICE

Three New Year’s Homebuyer Resolutions

This is the year you become a homeowner! To make the most of this most important step in your life, make these three New Year’s home buying resolutions now. I will check and repair my credit. Before you start shopping for homes, make sure you have no errors or unresolved credit issues that could prevent you from getting a good loan. The three credit reporting bureaus, Experian, Transunion and Equifax, don’t share data, nor do they correct errors without evidence. Order a full credit report from all three bureaus here. If you find an error, contact the appropriate bureau and mail copies of your payment, release of lien or other proof. I will get preapproved for a mortgage loan. Take two to four months of bank statements, pay stubs, and an account of your monthly debts and expenses to your lender. The lender calculates how much money you can safely borrow and at what interest rate. Preapproval also means a lot to sellers. It show’s that you’re serious about buying a home and that the closing process will be quicker and smoother because you already have a lender. I will buy within my means. It’s sensible to buy the most home you can afford, and your lender will help you get there, but it’s not wise to get a risky adjustable rate mortgage so you can buy more house. Being “house poor” means having no money available for other things in life, so stick to conforming loan guidelines to be safer financially.

Marketing Your Home for the Holidays

The holidays can be an ideal time to market a home. Families spend more time together, and sellers making a move during fall and early winter tend to be highly motivated.

Also, companies transfer employees according to need, and January is one of the busiest times of the year. When relocating transferees often have only a few weeks to find a home so make sure your house stands out with a few well-placed holiday decorations.

Be certain not to clutter tabletops, mantles or countertops or put holiday decorations out too soon. Wait until after Thanksgiving and take them down by the first weekend in January.

This may not be the year to put up a big tree because it can make a room appear cramped. The number one reason buyers choose a home is to have more space so let them look around without stepping around gift packages or avoiding fragile ornaments.

If you want a live tree, make sure it’s watered so the tree won’t turn brown or drop needles. Use fresh garlands to decorate mantles and doorways, and you can throw them away after the season.

Your time is best spent cleaning, staging and packing nonessentials in preparation for moving. Your home will show better and you’ll feel less stress if you don’t take on too much.

Dallas-Fort Worth Ranks High As Top Luxury Housing Market

Oct 08, 2014 09:10 am | DFW Real Estate | Reprint from Prudential Texas Properties Blog

The housing market in the Dallas-Fort Worth area continues to prove that it’s a major contender in the race as one of the most desirable communities to relocate to, and people of all demographics are packing up their bags to set down roots here. In fact, according to a recent report by the Dallas Business Journal, the Dallas-Fort Worth area is climbing the ranks as one of the top regions for luxury home buyers.

The publication cited data from the 2014 Luxury Home Report by Coldwell Banker Previews International, which found that real estate agents in the North Texas area sold 722 homes valued at a million dollars or more as of August. Compare that figure to the 518 homes sold the previous year and it’s obvious that the luxury market here continues to push its own boundaries. More and more companies are announcing moves here, fueling the migration to this area.

Dallas-Fort Worth ranked No. 11 in the United States for sales of million dollar homes and No. 18 in the ultra luxury market, which is categorized by sales of homes worth more than $5 million.

“The demand has never been higher and there’s never been a better time to sell than right now, but apparently everyone else had that idea,” said John Baen, a professor of real estate for the College of Business at the University of North Texas.

Fort Worth Growing as Desirable Community for All

While it’s a great sign that luxury home buyers are interested in the Fort Worth housing market, buyers surely don’t have to be spending upwards of $1 million to live in the region. According to Altos Research, a California-based real estate analytic company, the median single-family home value in Fort Worth was on the rise for much of 2014 thus far. Kicking off the new year around $152,000, the median single-family home value crept up to $166,322 as of September 26.

While the uptick in home values doesn’t seem too significant, the shift shows a year-over-year uptick and promising trends across the board. One significant trend in Fort Worth has been the demand for homes, noted by the Market Action Index. Altos’ unique figure measures local conditions based on trends that point up in favor of sellers or down in favor of buyers based on a scale that uses 30 as the neutral point. As of September 26, the index was at 37.74 after a few weeks of increases toward sellers.

This is a unique case, as many metro areas throughout the nation are now seeing a decrease in the amount of buyer activity. With Fort Worth as desirable as a community as it is, the average days on market has also remained stagnant. At about 85 days, this is the shortest amount of time homes have been listed on the market in Fort Worth, and with an average of 2,417 properties currently listed in Fort Worth, this is a healthy and strong market.

Dalla Chinese Lantern Festival

Best Reasons for Living and Working in Dallas

We researched the culture in both Dallas and Austin before we found our dream home and selected our community. I read all the tour books and went through all the tourist pamphlets at our hotels. We went to as many events as time allowed us.

Once a year at Fair Park in Dallas they hold the Chinese Lantern Festival. Learn more about it at their Website below.



* Come 'Light a New Dream!', and reignite your sense of wonder, now through January 5, 2014.

Fair Park, in Dallas, Texas
http://chineselanternfestival.com/lanterns.php

"The Chinese Lantern Festival comprises a collection made of silky cloth, glass, and porcelain. The 2013 exhibition is larger than the previous year's — 24 lantern sets will include an impressive Royal Dragon Boat, and a Porcelain Pagoda towering 52 feet. The pagoda is made from a staggering 68,000 plates, bowls, spoons, and wine cups...all tied together by hand.

Construction of this exceptional exhibit originated in China, where a team of more than 100 artisans and technical staff did preliminary work in Sichuan, the cradle of Chinese lantern-making. Small completed pieces and raw materials are being shipped by sea to the U.S. west coast, and will then be trucked to Dallas, where a team of more than 40 are scheduled to arrive from China to construct the majority of the exhibits on-site. As they did last year, they are prepared to work through long, hot days to create a showcase of the world's foremost lantern-makers."

Best Reasons to Live and Work in Dallas

          2014   Happy New Year           

Watched the New Year's Ball drop in New York City last night and celebrated the start of a new year in the Dallas / Fort Worth Metrotex. All the celebrates and announcers kept asking "What is your new year resolution?"

 

 

I decided on "Learn to Love What You Already Have".

 

 

Moving to Dallas in 2000 was a big step in my family's life. We had the opportunity to move to either Austin or Dallas. We started the process of deciding by going online, looking at demographic data and write-ups about the cities. Then we rented a minivan and toured the major cities, suburbs and neighborhoods. It was so much fun even with a one, five and seven year old with us.

 

 

I loved those days so much. I thought it would be an excellent idea to share Texas and make other families enjoy the moving steps. You will learn why I love Texas and my family's home in North Dallas / Fort Worth, Denton area.

 

 

* Dallas has a wonderful Farmer's Market you will love to visit and shop for great produce. http://www.dallasfarmersmarket.org/

 

History of the Market - from dallasfarmersmarket.org

For more than a century, farmers have been selling their fresh produce on the site of the Dallas Farmers Market. It started in the late 1800s as farmers came to town to sell from wagons set up in various locations.

 

Around 1900, the intersection of Pearl and Cadiz streets became the hub of a brisk wholesale business. There, large quantities of produce were sold, along with chickens, pigs, goats, and eggs.

As Dallas grew, so did demand for farm-fresh produce and meat, and it was clear that a better-organized system was needed. In 1939, the site of the Dallas Farmers Market was formalized and the first shed established. The site was officially sanctioned as a municipally-owned and operated market in December 1941.

Over the past six decades, the Dallas Farmers Market has matured into the year-round area attraction that it is today.

 

(I joined a co-operative fruit and vegetable group that every 2 weeks a team goes to Dallas to shop for fresh produce at wholesale prices for our group.)

 

 

Visit my Website to find all the best homes and neighborhoods in Texas: http://www.prutexas.com/gloriavargo/

Signs of Progress

Flower Mound – Highland Village - Double Oak - Copper Canyon Area

 

South East Corner of Chinn Chapel and 407, Justin Road will be home to Academy Sports and some of your favorite restaurants. Academy is slated to open in November of 2013, just in time for holiday shopping.

Hermansen Land Development, Inc. spoke at a joint economic development meeting of The Town Flower Mound and Flower Mound Chamber of Commerce, about his new project. He also spoke about how he likes working with our new Mayor, City Manager, Economic Director, Council Members, Town Engineer, and PD Zoning. We should be seeing Smashburger, Jerry Mike's Sub, Modmarket - Fresh Eateriers and some other great businesses.

Consumer Financial Protection Bureau - National Real Estate Post

Watch dog needs watching! CFPB, Consumer Financial Protection Bureau - Our mission is to make markets for consumer financial products and services work for Americans — whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products.  http://www.consumerfinance.gov/the-bureau/

Your thoughts!

Very Good Question to Ask!

Where did the 1.5 Billion go?

I have been working with buyers wanting to buy short sales or foreclosed homes. Because of working with the buyers we get to know the sellers of these homes.

It is becoming harder and harder to understand the banks and the government. Common sense is not very common.

The money needs to already be in the hands of those that where affected by the Banks. Who is really looking out for them?

Commentary with Frank Garay and Brian Stevens at the National Real Estate Post!
http://www.viddler.com/v/a65f6f84

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New Forbearance Program

Unemployed FHA Borrowers Granted 12 Months Forbearance

The Obama administration recently announced that loan servicers who are collecting payments on FHA loans will be required to allow qualified borrowers who lose their jobs to miss up to 12 months of mortgage payments before initiating foreclosure proceedings against them. See the press release here.

The new forbearance program allows unemployed borrowers to stay in their homes while seeking new employment.

Currently, the FHA’s policy is four months of required unemployment forbearance. Housing Secretary Shaun Donovan claimed the current time period is “inadequate for the majority of unemployed borrowers.”

Donovan also stated, "Today, 60 percent of the unemployed have been out of work for more than three months and 45 percent have been out of work for more than six. Providing the option for a year of forbearance will give struggling homeowners a substantially greater chance of finding employment before they lose their home."

Not all borrowers will qualify for the new forbearance program, but the Obama administration said it is removing the “upfront hurdles” for qualification. Servicers are required to provide any borrowers who are denied forbearance with the reason for denial and allow the borrower at least seven days to submit additional information that may impact the evaluation.

All FHA-approved servicers must participate in the new forbearance program.

The administration said it hopes that the changes will "set a standard for the mortgage industry to provide more robust assistance to unemployed homeowners in the economic downturn."