Twin Creeks is a new home community that boasts a family friendly atmosphere and beautifully crafted homes by many of Texas’ top homebuilders.

Recreational Activities Galore

The community of Twin Creeks is abounding with natural beauty and recreational activities, including: shaded walking and biking paths; sports courts; shaded picnic areas; two playgrounds; and a number of swimming pools. Plenty of community pavilions throughout the development provide the setting for neighborhood barbecues and lazy Sunday picnics.

This community also features six lighted tennis courts, catch-and-release fishing, half-court basketball courts, sand volleyball courts and nearly three miles of hiking and biking trails.

Other recreational facilities of Twin Creeks include two swimming pool complexes, which feature a Junior Olympic-sized swimming pool, a tot pool and a recreational pool, as well as an Arnold Palmer signature golf course, which is built around the Golf Club at Twin Creeks.

Arnold-Palmer Designed Golf Course

The golf course, which is located in West Allen, has been called one of the best courses in Texas, and was designed to blend beautifully with the surrounding natural beauty and landscape. Twin Creeks also feature a clubhouse in which the Palmer Room is located. This room is the ideal gathering place for birthday parties, weddings and other social events.

The Twin Creeks golf course features a golf shop, a restaurant and a golf practice center that includes: a grass driving range; a practice bunker; a chipping area; a putting green; and a junior three-hold practice course.

Allen ISD

The children of Twin Creeks attend schools in the highly acclaimed Allen Independent School District. Allen ISD currently serves about 17,000 students, which has doubled since 1989. Allen ISD includes 13 elementary schools, three middle schools, one freshmen center and one high school. Eight of the schools of Allen ISD have been recognized as being “exemplary.” There are three elementary schools within the Twin Lakes community.

Sales are down when it comes to downtown Fort Worth condos; but that’s really only part of the picture. What is most striking about the decline in sales among downtown Fort Worth condos is that the average price of a condo in downtown Fort Worth is $235 per square foot - the highest price in Texas.

In other words, Fort Worth’s downtown condo problem is that most home buyers are simply not looking to spend the money for a luxury condo. And the 30-month inventory on downtown Fort Worth condos is a clear indication of this fact.

In comparison, condo supply nationwide has fallen to about 12 months as most cities are beginning to see signs of recovery.

Where it all went Wrong

It’s no surprise, really, that downtown Fort Worth is chocked full of pricey condos. Three years ago, developers saw a prime opportunity as downtown projects were plentiful and the economy was adding jobs. Both income and confidence were plentiful and, as a result, developers saw an opportunity in the making.

However, the credit market decline was a huge bust to the industry and many high-priced downtown developments began to feel the brunt of the flailing economy and housing market.

Many analysts see Fort Worth’s problems as not being overbuilt, just being “top-heavy.”  In other words, it’s not the number of condo homes in downtown Fort Worth that is the problem, just merely the price of them. In fact, more than two-thirds of Fort Worth’s downtown condos are priced above $234,000.

In comparison, the median price for a downtown Forth Worth condo is twice as much as a single-family home in Fort Worth.

There is a much higher demand for lower-priced condos, and the numbers prove it: in the second quarter of 2009 lower-priced condos outsold more expensive ones by almost two to one.

Whether you’re interested in becoming a real estate agent for Dallas, Austin, Houston or San Antonio, VIP Realty can offer you unlimited income potential and a financially secure company to work behind you, every step of the way.

VIP Realty is far different from any other real estate company you’ve worked for in the past. Forget about the agent/broker split plans you have been accustomed to and let VIP Realty show you how to increase your income and build a successful career in real estate!

Fees are upfront and plans are varied to suit your individual needs and wants:

• Plan 1 - Plan 1 one is a simple one. From a multimillion dollar estate to a starter home, you keep the commission.
• Plan 2 - Plan 2 consists of an 80/20 broker split. We eliminate office fees, franchise fees and quotas. Instead, we provide you with exclusive buyer and seller leads, cutting-edge marketing tools, a personalized marketing strategy, top-ten websites to promote your strategy, one-on-one training, a webpage and a personalized company email and MLS search link. Plan 2 is ideal for individuals who want to eliminate monthly costs while still keeping the majority of their commission.
• Plan 3 - Plan 3 consists of a 50/50 broker split.  You are granted all of the above services, while a steady stream of per-qualified leads are provided to you. This is a fantastic way to grow your real estate business from the ground up and give you an advantage over your competition.

If you are tired of giving your hard-earned commission away then you owe it to yourself to consider the advantages of VIP Realty. No other real estate company offers the various plans to suit your individual needs and wants.

Agents of VIP Realty are among the top earners in their field. It therefore comes as no surprise that VIP Realty has become the premier real estate firm in Texas. Let our innovation and success guide you toward a successful career in real estate!

Are there challenges in this market? Absolutely. But the fact of the matter is that there are just as many advantages to purchasing a Las Colinas home in 2010.

Why now may be your time to buy your first home:

• Appreciation - Housing values across the country have hit rock bottom. What does that mean for you? It means that housing prices have nowhere to go but up. Great for you, considering that your appreciation value will be even greater than someone who purchased their home five years ago. A home is still a great investment in your future, all things considered.
• Mortgage Interest Deductions - You will be thanking your mortgage when tax time rolls around, as mortgage interest is fully tax-deductible (with a few exceptions). You can’t do that with your rent!
• Government Incentives - The federal government has certainly done its part over the last few months with the Homebuyer Tax Credit. In fact, it was recently announced that this government tax credit, which equals about $8,000 for each homebuyer, is extended well into 2010.
• Home Equity Loans - Equity in your home is a great thing. You can take the equity in your home and use it towards paying off other higher interest loans, including credit cards, personal loans and auto loans, just to name a few. You can also use the equity in your home to send your kids to college, to make home improvements, or to simply take the vacation of your dreams. And, best of all, the interest paid on a home equity loan is also tax deductible.

For many individuals, it is very important for them to protect their privacy, while others are simply concerned that buyers will make assumptions about them and judge them instead of simply judging their home. However, the importance of protecting your privacy is all the same.

How to protect your privacy while selling your home:

• Expect buyers to open drawers and peek in cabinets. Therefore, remove all personal effects that may embarrass you during open houses and showings. Now may be a good time to clear out and organize your closet and drawers anyway, so take charge and get things organized and prepared for showings.
• Hide your mail and financial information. Don’t leave mail sitting out - whether opened or unopened - for all to see; and that goes for financial information, such as check books and banks statements. If you have a lock on your file cabinet or desk drawer, use it. Do not give anyone an excuse to peek into your personal finances.
• Ask your realtor to accompany your visitors. Some real estate agents allow buyers to walk through the property on their own, while others will accompany them. If you feel wary of allowing strangers to tour your home, unaccompanied, let your agent know beforehand.
• Remove personal effects from your walls. From diplomas and religious artifacts to wedding certificates and personal photos, don’t provide buyers with any personal information about yourself or your family. De-personalizing is also an important move to make when staging your home for sale anyway, so you can actually accomplish two things by removing the personal effects from your home.
• Don’t leave your computer up and running during showings. Gaining personal information from your computer takes only moments for a professional hacker or thief, so be proactive and shut your computer down before your guests arrive.

Commercial Market Continues to Struggle Nationwide

Federal Reserve Chairman Ben Bernanke recently remarked that the demand for commercial properties remains down across the nation, thereby causing a “sharp deterioration in the credit quality of commercial real estate loans on the banks’ books and on loans that back commercial mortgage-backed securities.”

He also warned that many banks may be facing the decision to either roll over their maturing debt or foreclose on many of their loans. Because of this, most economists see 2010 as a tough year for the commercial real estate sector.

Job Growth Driving Dallas Commercial Market

The risk of mortgage-backed securities isn’t due to affect Dallas as much as other cities, however, because the job growth in this area continues to drive the Dallas commercial real estate market. Many economists, as a result, see the economy in Dallas really taking off by 2011, which will further help commercial real estate because of the new activity expected in the commercial market.

Most analysts also agree that the Dallas-Fort Worth area will not experience the market decline of the 1980s; in fact, they see the commercial real estate slowly improving as the economy improves.

A sharp rebound for 2010 isn’t expected; in particular, retail growth will be all but stagnant for the better part of the upcoming year. And, as we know all too well, the commercial real estate market relies heavily on the retail market.

Even despite the lackluster commercial sector, there has been a nice increase of office building leases in the Dallas area as of late, thereby indicating that the general panic of 2009 is over and that individuals are looking to move forward with their businesses.

Don’t expect to sell your home in an “as-is” condition in a buyer’s market; there are simply too many homes on the market and too much competition. Most buyers today want a move-in ready home, complete with upgrades.

So, where do you go from here? Work with your real estate agent to consider the home’s market value now, versus its market value should you perform improvements and repairs. Then, consider your neighborhood, region and the improvements that will result in the best return on your investment.

For example, an entire kitchen remodel for a small ranch probably won’t offer you a nice return on your investment, but updated kitchen countertops and new kitchen appliances certainly will. In the end, it’s all about understanding your buyers’ wants and needs, your home’s market value and the neighborhood in which your Turtle Creek home is located.

There are, however, a few home improvements that you can’t go wrong taking care of before you list your home for sale:

• Patch all holes and cracks in the walls and ceilings and cover all rooms in a fresh coat of paint.
• Re-paint all walls with a fresh, neutral color. In other words, get rid of any loud or boldly colored walls, and remove any signs of wallpaper and other wall coverings. Avoid white paint, though, as it often gives the feeling of a sterile, stark environment.
• Perform repairs to any broken toilets, leaky faucets or non-functioning light fixtures.
• Replace any worn flooring, including carpeting and tile. New, inexpensive carpeting can instantly give any room a facelift; likewise, an old, worn carpet can turn buyers off from the start.
• Replace any old, outdated window coverings, such as blinds and curtains. Fresh window coverings instantly freshen up a room and make it feel updated.
• Repair any cracks or uneven surfaces on your driveway, walkway or front steps.
• Repair or replace any broken windows or doors.

Although purchasing your first home can provide a windfall of advantages, there are perhaps just as many advantages to renting if you are not financially or mentally prepared to become a homeowner.

Giving the idea of home ownership thoughtful consideration will eliminate purchasing a home that you’re simply not ready to handle. In fact, purchasing a home when the time isn’t right can cost you much more than regret: it can cost you money, frustration and loads of hassle.

Why now may not be the time to purchase your first Dallas County home:

• You don’t have a large enough down payment - Unlike just a couple years ago, lenders are now demanding large down payments, upwards of 20 percent (or more for condo purchases). If you don’t have a large down payment ready and waiting, chances are a lender simply won’t approve you for a home loan. In addition, you also don’t want to fork over a large down payment and then be left without any money in your savings, so think ahead and consider whether you can afford to pay out a large down payment at this time.
• Your credit is questionable - Just like a down payment, lenders are now requiring glowing credit scores for borrowers, so if you haven’t achieved a great credit score, now may be the time to work on your credit and forgo applying for a home loan. And remember: the better your credit score the better rate you will be able to snag on a home loan. Order a copy of your credit report from all three of the major credit reporting agencies and go from there.
• Your debt is considerable - Many young individuals find themselves bogged down in quite a bit of debt. From student loans and car loans to high credit card debt, many younger individuals simply are not in the position to apply for a mortgage due to their high level of debt. Called a debt-to-income ratio, most lenders determine the amount of debt you have and figure out what percentage of your income goes to debt. If your debt-to-income ratio is too high, you will likely be turned down for a home loan, regardless of your credit.
• You haven’t found the perfect job - If you haven’t found the job where you can envision yourself staying, at least for the next few years then you may want to think twice about purchasing a home. Renting in the meantime will afford you the freedom to move to your next job opportunity, wherever it may take you.

However, 2010 may finally give us a chance to pick ourselves up, dust ourselves off and move forward. In fact, it just may be the year to buy a house.

Home values have fallen back down to 2003 levels; mortgage rates are near historic lows; the government has extended the home buyer tax credit and opened it up to nearly all homeowners; and the foreclosure crisis has opened up some fantastic opportunities for home buyers.

There is one thing, however, that will certainly not change in the North Texas real estate industry, as well as across the United States: the credit situation.

In short, lenders are simply not going to open up their doors to anyone with less-than-perfect credit. In particular, don’t expect to secure a new home in North Texas unless you have a secure, stable job and a stellar credit report.

Other Trends we can Expect in the North Texas Real Estate Market in 2010:

• Home prices will bottom out - If you’ve been one of those buyers waiting for prices to go lower, you may be waiting a long, long time. After the decline of home prices for nearly two years, it looks as though home prices will finally bottom out during the first half of 2010.
• Foreclosures will continue to rise - With falling home prices and a tough job market, mortgage delinquencies are expected to continue.
• More expensive homes will hit the foreclosure market - One of the biggest trends in foreclosures in 2010 will be the jump in foreclosures among the highest priced homes.
• Mortgage rates will rise - Although mortgage rates will remain quite attractive in the upcoming year, they will not be at the rates we saw in 2009. Expect mortgage rates for a 30-year, fixed-rate mortgage to be about 5.5 percent by mid-year and about 6 percent by year’s end.

Watermere isn’t just any retirement community, though. This expansive community features beautifully designed condos that range in price from $199,500 to $444,000 and villa homes that range in price from $424,000 to $679,000. The only requirement for residents of Watermere is that one individual must be at least 55 years old.

Active Adult Community Meets Retirement Lifestyle

Known as an active-adult community, Watermere homes are referred to as “lock and leave” properties; in other words, all maintenance is handled by the community, thereby providing a truly maintenance free lifestyle for the residents.

Southlake’s Watermere community is a unique retirement community for those individuals looking to abandon the troubles of homeownership.  This community has both elements of an active-adult community and a retirement community, thereby accommodating older individuals of different wants and needs.

There are also assisted living and dementia care apartments on the edge of the expansive Watermere campus to accommodate individuals with special needs.

Homeowner Privileges

Unlike most retirement communities, however, Watermere does not charge an entrance fee or rent; instead, homeowners are able to purchase their condominium or village home and claim the interest and local real estate taxes on their federal income taxes.

The services provided at Watermere are plentiful, and are covered by a monthly service fee that each homeowner pays. These services pay for such privileges as housekeeping, laundry services, some meals, transportation and yard maintenance.

The service fees for Watermere are $2,200 for one individual or $2,500 for a couple.

Watermere promotes healthy living, as well, as homeowners can participate in activities such as tai chi, water aerobics and yoga classes. Watermere’s wide range of amenities and services are likely to attract many older homeowners who are looking for a complete-care community.

Other amenities of the community’s clubhouse include a formal dining area, a cafe, a cocktail lounge, a fitness center, a swimming pool, a spa, a beauty salon, a library and a gift shop.

Watermere is a partnership between South Bay Partners of Dallas, Integrated Real Estate Group and Simmons Estate Homes.