Posts Tagged ‘homes’


Wednesday, June 8th, 2011


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Come Home to DFW. Moving a lifetime of possessions to a new home can be a challenge. When relocating to the DFW area, you will become a resident of one of the world

The Advantages of Buying a Home in a Buyer

Thursday, February 11th, 2010

Good news! It's still a buyer's market out there. That means that there are a slew of great opportunities out there just ready for the taking.

And, lucky for you, along with a nice inventory of homes on the market comes other benefits of purchasing a Las Colinas home in a buyer's market.

  • Price Reductions - There are many homes currently on the market in any given region, and many of these homes have seen price reductions. And price reductions mean anxious sellers. Make it a point to tour homes that have had price reductions, as you may have more room to negotiate with more receptive home sellers.
  • Contingencies - You can probably get away with writing in contingencies to your offer during a buyer's market. You may ask for a contingency based upon the home coming in at a certain appraised value, or you may ask for a contingency based upon a clear pest report and inspection, among other things.
  • Credits - Most of the time sellers in a buyer's market will entertain credits or allowances. Consider asking for credits to perform certain repairs or make certain improvements when you submit your offer. From repairing or replacing the roof to replacing worn carpeting or upgrading the home's appliances, you can often get away with including credits in your offer.
  • Closing Cost Assistance - Many times, buyers will offer to pay all or some of the closing costs associated with the sale of their home. If they don't, ask for them anyway. Closing cost fees may include fees associated with the title insurance, property taxes, recording fees or escrow.
  • Renegotiate Sales Price Following Inspections - Instead of backing out of the deal when inspection reports come back with problems, simply ask to renegotiate the sales price of the home. This strategy works most of the time, provided the problems weren't evident before the first offer was made.
  • Ask for Extras - A good negotiation tool when purchasing a home in a buyer's market is to ask the sellers for "extras." This may mean the home's appliances, washer and dryer, patio furniture, backyard shed and the like.

Why Owning a Home is Still a Smart Move

Tuesday, February 2nd, 2010

The media has a knack of scaring even the most level-headed of people. Case in point: many would-be homeowners have been scared silly by reports of a tanking housing market. But what they fail to tell people is that now may be the best time to purchase your first home. From low interest rates and government programs to a slew of fantastic homes on the market, now may be the moment you've been waiting for.

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.

Are you Ready to Purchase your First Home?

Friday, July 17th, 2009

Purchasing your first home can be an exciting time in your life, filled with excitement, gratification and satisfaction. Although you've probably heard people telling you that renting is like throwing your money away, for many individuals renting is an ideal situation.

The bottom line is that, although owning your own home is incredibly beneficial in many ways, it is not for everyone. So, before you dive head first into your first home purchase, consider asking yourself the following questions:

  • Are you credit-worthy? Being in a positive credit situation means that you have an excellent credit history and that your credit score is at least above 700. Lenders are much stricter than they were a few years ago regarding who they will approve for home loans, so it is important to ensure that your credit is spotless before applying for a mortgage. Order copies of your credit report from all three credit reporting agencies and review them carefully, looking for any errors. If your FICO score is struggling, then it is probably best to take care of your credit problems and work to raise your FICO score before considering a home purchase.
  • Are you financially prepared? Being financially prepared means that you have saved at least 20 percent of the purchase price of a home for a down payment, and that you have also set aside at least six months worth of your salary for an emergency fund. If you fall short in either of these areas, it is probably best to wait until you have saved more before purchasing a new home.
  • Are you ready to pay taxes? Many renters fail to realize, when figuring the cost of a mortgage, the taxes that they'll need to pay. And for many, taxes can add a few hundred dollars every month to their mortgage payment. The Internet is a great source for tax information, as is a real estate agent. Before you make the decision to purchase a Highland Park home, you'll want to factor the cost of school and property taxes into your budget.
  • Are you ready to tackle home improvement projects (or pay someone else to do them)? A home is a work in progress, and home improvement and repair projects are an integral part of maintaining your home and increasing its value. If you are unable to complete basic home repair and improvement projects, or if you don't have the time or the desire, you will want to factor in the cost of hiring someone else to do this work for you. You should also factor in the cost of the repairs and improvements themselves into your monthly budget.
  • Are you ready to settle in? Purchasing a home usually means that you intend on staying put in one place for at least a few years. If you enjoy moving around, or if you anticipate a job move in the next couple years, then owning a home probably isn't right for you, as you will not likely see a return on your investment.

Why now May be the Time to Purchase the Home of your Dreams

Friday, May 1st, 2009

If the national news has your head spinning and your anxiety level increasing, then you're not alone. We are bombarded, almost on a daily basis, about the state of the economy, the lack of progress in the housing market and the pitiful credit sector. Our 401Ks are taking a beating, along with our feelings of financial security and hopefulness about the future.

With that said, many of us have fallen into these feeling of fear, only to be missing out on the potentially excellent opportunities just waiting on our doorsteps.

For those of us in the market for a new University Park home, who have maintained excellent credit and who have socked enough money aside for a decent down payment, this may very well be the opportunity for which we've been searching.

Why Purchase a Home Now?

  1. There is a great inventory of homes on the market. One of the great things about being a buyer in today's market is that there is a great selection of homes on the market. There are plenty of homes to choose from, and plenty of sellers looking eagerly looking to sell. The large inventory of homes on the market allows you to carefully select a home that meets your criteria and standards, which means that your ability to locate a home that has all of the amenities and features you are looking for is great.
  2. It is still a buyer's market. You've heard it before: it is still a buyer's market. That means that, as a buyer, you hold the power. You hold the power to negotiate; to hold out for a better deal; and to find a seller that is motivated to sell their University Park home. Unlike a seller's market where housing prices begin to rise and buyers often find themselves in bidding wars, a buyer's market keeps housing prices in check and produces plenty of anxious homeowners looking to sell their homes.
  3. Home prices have dropped. Up until a few years ago, housing prices across the country were skyrocketing and many buyers were forced to purchase smaller homes just to partake in the American dream. Fast forward to 2009 and buyers are fortunate to see that home prices have dropped off, thereby granting them the ability to purchase more of a home for less money. In fact, lower housing prices have enabled many buyers to purchase the home of their dreams.
  4. Interest rates are low - really low. If there was one single incentive to purchase a home in today's market it would be to take advantage of the near-historic low interest rates. Lower interest rates mean that your mortgage payments are lower, which then means that you may potentially be able to afford a home that otherwise would have been too expensive, or upgrade to a larger home and still stick to your budget.

Purchasing a home is a very personal decision, and is certainly not for everyone. However, it pays for many potential home buyers to take a step back and review their own personal situation before ruling out the idea of purchasing a home. There are great opportunities to be had for those who have worked hard, saved hard and spent wisely!