Archive for December, 2009

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Why it

Tuesday, December 8th, 2009

There’s so much bad news concerning the real estate market today that the advantages of being a first-time homebuyer often get glossed over.

In fact, many would-be first-time homebuyers may be shying away from purchasing a home out of fear of the market. After all, hearing the grim news of the economy and the real estate market day after day can certainly impact your confidence level.

It is therefore important to point out that there are many reasons to purchase your first home, particularly in today’s market!

  1. You don’t have a house to sell. Yes, the market is still rough for individuals trying to sell their homes; but, luckily, because you are not tied down to another home or another mortgage you have one less thing to worry about.
  2. You can take advantage of today’s super-low mortgage rates. Mortgage rates are low – very low. In fact, most 30-year mortgage rates are flirting in the five-percent range. Now, more than ever, you can score a low interest rate, thereby enabling you to buy more for your money.
  3. You can get an $8,000 tax credit. Luckily, the first-time homebuyer tax credit of $8,000 has been extended to April 2010. So don’t fret if you haven’t yet taken advantage of this great tax credit, which is part of the federal stimulus plan.
  4. You have your share of great properties from which to choose. Because the market has yet to rebound significantly, there are still plenty of Las Colinas homes on the market. This, of course, is great news for you as a seller because the large selection of homes will allow you to find the home that is perfect for you.
  5. You can get the home of your dreams for less than you ever thought possible. Homes prices across the country have dropped significantly over the last year or so, thereby offering many homebuyers an extraordinary opportunity. For many homebuyers, these lower prices have allowed them to purchase a Las Colinas home that they never thought that they could afford. In other words, your dream home may be more attainable than you thought!

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Dallas Welcomes in the Holidays with Fun Events

Monday, December 7th, 2009

You know it’s holiday season in Dallas when event calendars are full and people everywhere are quickly getting into the holiday mood. Enjoy these holiday events in and around Dallas and you’ll soon find yourself humming a holiday tune and enjoying the holiday season!

  • Deck the Halls with Breakfast and Santa

Where: the Morton H. Meyerson Symphony Center in the Central Business District

When:

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The Tower Residences at the Ritz-Carlton Unveil Designer Showcase Home

Thursday, December 3rd, 2009

To get a really good idea of the opulence that awaits you at the Tower Residences of the Ritz-Carlton you must be able to envision what a home may look like if it were furnished.

Problem solved.

The first designer-furnished showcase home has been recently unveiled at the Tower Residences at the Ritz-Carlton, thereby providing brokers, real estate professionals and potential homeowners with the opportunity to view the luxury of this magnificent condominium building and its equally impressive residences.

The showcase home of the Tower Residences features interior design and furnishings by Robb & Stucky Interiors of Dallas and Plano. The interior of the showcase home includes two bedrooms, a chef’s kitchen and a study. The home is equipped with a terrace, high-end appliances and premium finishes.

About the Tower Residences

The Tower Residences which, along with the hotel, have become Uptown Dallas’ pride and joy, have recently been completed. Located along Pearl Street, these condominium residences are a testament to the upscale living found in Uptown Dallas condos.

The Tower Residences boast 95 condominium homes, all of which feature sweeping views, upscale amenities and superb services, consist of one, two and three-bedroom homes.

There are currently just 30 condominium homes remaining at the Tower Residences, thereby adding to the overall success of this condominium building. The first phase of the project, which was completed in 2007, sold out quickly, as well.

Building and Resident Amenities Abound

Just some of the amenities afforded to the residents of the Tower Residences include private grounds, private gardens, a swimming pool, a whirlpool and an outdoor fireplace. A private wine tasting room, a wine cellar, a private dining room with a fully equipped catering kitchen, and underground parking are also granted to the residents of this prestigious address.

Residents also have full access to the fabulous amenities and services of the Ritz-Carlton Hotel, via an exclusive, pedestrian skyway.

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Downtown Dallas Condo HOA Fees: What you Need to Know

Wednesday, December 2nd, 2009

If you are considering a move into one of the fabulous Downtown Dallas condos, you will likely encounter HOA fees. Your HOA fees are perhaps just as important as the sales price of your condo, so it is imperative to have a full understanding of what they are and what they entail.

What are HOA fees?

Homeowners Association fees, better known as HOA fees, are fees that are collected from homeowners of a condominium complex. These fees may be collected on a monthly, weekly or annual basis, depending on the downtown Dallas condo in which you reside.

What do HOA fees cover?

One of the reasons why it is so important to do your homework regarding the HOA fees for the condominium building in which you want to reside is because they can cover a wide variety of expenses. Typically, however, HOA fees cover the master insurance, the exterior and interior maintenance, landscaping, water, sewage, and refuse costs.

They may also pay for amenities and services of the downtown Dallas condo building in which you live, including a swimming pool, a party room, valet service, concierge service, and a fitness center, just to name a few.

How are HOA fees determined?

HOA fees are generally determined by the building’s board or directors and often re-evaluated on a yearly basis.

How are HOA fees paid?

HOA fees are generally paid through your mortgage payments, thereby making the process of tending to these payments hassle-free.

Do HOA fees cover large repairs on the building?

Generally not. You may also be expected to pay for “special assessments” when unexpected communal expenses arise. This may include replacing the roof, for example.

Paying for HOA fees may have a large impact on your overall housing budget, so it is important to understand what you will be paying in HOA fees every month, and to also be aware that these fees can increase – often significantly – during the time you are residing in the home.

HOA fees can range anywhere from a couple hundred dollars to more than $500 per month, depending on the downtown Dallas condo building, so keep these fees in mind when you are shopping for your next condominium home.

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