Black Friday for Home Shopping

What?!? Black Friday for home shopping?!? Yup, you read right & that's why I had to share this great post from Bryan Robertson in Los Altos, CA.  Though he's writing for his local area I can say the same is true for us in the Dallas/Ft Worth area! 

If you are a buyer looking for Homes for Sale in the Dallas Ft Worth Metroplex or Lake Ray Hubbard area, then this coming weekend is a great time to get out and check out all the deals.  There are some awesome DOORBUSTERS out there right now!

If you want to search for houses that are currently on the market in your desired areas, you can search directly on my SamIAmHouses website (top right) that feeds directly from the Multiple Listing Service & gives you the most up to date information.  If you would like some help, have any questions or would like to set up a private appointment to see a home this weekend just give me a call (214-422-0729) or send me an email - I'd be ever so happy to help!

Via Bryan Robertson, Los Altos REALTOR Los Altos Real Estate - Homes For Sale (Sereno Group - Los Altos):

I've done the "Black Friday" thing - getting up at 2AM to stand in line, freezing my butt off, waiting for a "deal" that I never ended up getting.  How about Black Friday for home buying?  Are buyers willing to head out on Friday morning shopping for awesome real estate deals?  I certainly hope so!
For the savvy home buyer, this is a great time of year to snap up a great deal on a home.  While inventory levels are low all over Silicon Valley and especially in Los Altos, there are still some very nice homes that qualify as doorbusters.  If you see a home you like, make an offer.  Unlike Best Buy or Kohls, home buyers can negotiate a sweet deal on a home and, depending on how they're financing, be moved in by Christmas. 

I've done open houses on the weekend following Thanksgiving.  For REALTORS, its' a great time to be out meeting prospective buyers.  Rain or shine, they come out to look because they're dedicated, serious shoppers looking for that awesome deal that can only be found at this time of year.  Sellers are just waiting to see that offer wrapped up and under the tree so they can start the New Year with a "SOLD" sign out front. 

My advice for home buyers in any town around Silicon Valley is...get out and get yourself a great home at a great price.  Now is the time!  Carpe Domus!  Seize that great Black Friday home deal you've been looking for all year.  For real estate agents, don't slow down!  Engage your buyers and help them find that ideal home to start 2012 with.

Should You Buy a House in Dallas/Ft Worth Now or Wait?

The housing market has been in a downward trend for 4 years. There is some speculation that inventories will not reduce any time soon, which will be necessary for prices to rise.

However, there are other factors that can increase the cost of housing, specifically mortgages. FHA accounts for a large percentage of the current housing loans and is expected to be even more prominent when the Qualified Residential Mortgage Guidelines go into effect next year.

1. Rising rates are almost certain, due to looming inflation fueled by higher gas and food prices and the enormous amount of deficit spending
   
2. FHA loan limits have been reduced – they are lower than conventional limits in most markets and FHA has suggested that they might be reduced further.
   
3. FHA might increase the down payment to 5% or higher in an effort to have a more secure loan that will have less likelihood of going to foreclosure.
   
4. FHA might decrease the amount of seller contributions in a similar move to require the buyer to have a larger investment in the home and therefore be a more “qualified” borrower.
   
5. Congress may decide to increase the up-front MIP to build up the FHA reserves. The annual MIP has been adjusted twice since October 2010 when the Up-Front MIP was actually reduced.
   
6. Due to tougher conventional requirements, demand for FHA loans could exceed maximum annual insurable limits. If Congress is having a hard time raising the limit on national debt, they might not even consider raising the limits for FHA.

In an effort to solidify the lending industry, qualifying is becoming harder for the buyer and more expensive at the same time. Many of the rules changes could go into effect next year. In addition, market factors could easily play a role in increasing buyer’s costs. Waiting will very probably require a larger up-front investment for buyers in the future.

To find out what's best financially for you, I'd be happy to refer you to a Mortgage Lender who can walk you through the different options you have.

Renting vs Owning - The Big Debate, Dallas/Ft Worth TX

Here is a great Non-Biased view of the both the Pro's & Con's of Renting and Owning a house from one of my most favorite Mortgage Lenders to work with, John Cannata, TexasLoanGuy. When it comes to deciding which is best for you Renting or Owning, th bottom line is what suits your financial and lifestyle needs.

In the Dallas/Ft Worth area, we are definately seeing more Renters than in previous years so be aware that the Rent will be higher. If you have some money squireled away, it might make sense to Buy a house and benefit from the low house prices as well as the crazy low mortgage rates.

Which ever you decide, I'm here to help and will work with you to find the perfect HOME for you and your family!


Via John Cannata - Supreme Lending Texas Home Loan Originator (214-728-0449 http://TexasLoanGuy.com):


Renting vs Owning - The Big Debate

There comes a time in everyone’s life where they have to make the ultimate decision and decide whether to buy and own their own home or continue to rent. It’s a huge decision as both have notable benefits and disadvantages and it is not one to be taken lightly. So lets have a look at these advantages and disadvantages to see which option is really the best option for you.

Owning your own home is the traditional dream that practically everyone has, especially when it comes to starting a family. It gives you a feeling that you have accomplished one of your goals and that you are both financially and emotionally secure as well as giving you a great sense of community. But is it the right decision for you? Lets have a quick look at the advantages and disadvantages of buying and owning your own home.


Advantages:

• Set your own rules 
• Sense of security 
• A home is a great investment (long term, not for a quick turnaround, especially in todays market) 
• Get various sort of tax rebates and deductions 
• Repayment is usually the same or even lower than it would cost to rent - see example of my rent vs own comparison
• You build equiry over time 
• Improve your credit score if you need a loan in the future

Disadvantages:

You are liable for any accidents and injuries on your property

• You are liable for any damage to your neighbors house if stemmed from your property - for example a tree branch falling over the fence and damaging something in your neighbors yard. 
• Responsible for any maintenance in, on, or around your home 
• No longer can you just pack up your things and leave when you want. You'll need to list and sell your home
• Large loan responsibility even if you are having financial hardship 
• Required to have homeowners insurance to cover damages to the property 
• Responsible for property taxes 
• Requires an upfront down payment (VA and USDA are 100% financing products, if you qualify) 

Renting is something most of us start out doing and many people are comfortable doing it all their lives. There are many advantages to renting a home but there are also a few disadvantages. Let’s have a look at them.


Advantages:

• You can up and leave as soon as your lease it up 
• If you run into a financial hardship, you can move again 
• Little or no responsibility for maintenance 
• Sometimes utilities are included in the rent cost 
• Sometimes you have free use of amenities such as laundry, pool, and other sorts of actualities 

Disadvantages:

• Limited or no freedom to what you can do with the place (paint, design, build, etc) 
• Rent MAY increase 
• No tax deductions 
• At risk of being evicted 
• The house could be sold and you can be asked to leave 
• Could have restrictions on certain things like noise and pets 
• Could have restrictions on the number of members living in the house/apartment 
• Rent is not going into a productive investment for you 

As you can see clearly there are many advantages and disadvantages to owning your own home and renting. Some have advantages and disadvantages the other doesn’t have, but both can be a comfortable way to live. When it really comes down to it you have to choose the one that suits you’re financial, emotional and lifestyle needs at this time. You have to take your future into account as well, will you want to be tied down and take responsibility for a huge investment or will you prefer the freeness of being able to move whenever you please? It can be quite a hard decision to make and it is one that needs a lot of time and thought before you proceed to take any further steps.

When you call me, I take the time to evaluate your current financial status and together we can compare the pros and cons to owning a home. In addition, I take the time to complete a Total Cost Analysis. Together, we will find the program that works best for you and your family.

*********************************************************

Are you looking to purchase a Texas home?  Perhaps you love your Texas home but would be interested in refinancing your Texas mortgage to a lower interest rate?  

I'll help you get pre-approved for your Texas home loan and even suggest some very knowledgeable and professional Real Estate Agents in your area of choice.  If you are available to talk, I am available to listen.  Give me a call or visit my website for more details.

Do you want to know all of your mortgage options? Call me today and let's discuss them further.

Always available for your Texas Mortgage and Home Loan needs!

John R Cannata    P#214.728.0449

NMLS # 322646

Texas Home Loan Expert

Frisco TX Mortgage

      

The views expressed on this site are mine alone and do not reflect the views of my employer.

Lake Ray Hubbard's Real Estate has been Full of Treats, 2011 October Market Report

'Tis the day for all the Gobblins & Witches or now-a-days Spider Mans & Princesses to come out and say Trick or Treat! With the end of October on us, here's a peek on the Real Estate Market for the Lake Ray Hubbard area (Garland, Rowlett, Rockwall & Heath) and if it's as Spooky as it is in most parts of the US.   


Garland ... definetly had a month full of Treats!

• 49 Houses SOLD-  Minimum being: $57,000 for a 2bd/1bth with 833sqft. Maximum being: $287,000 for an 5bd/4bthwith 3,650sqft. and the Average being: $119,700 for a 2bd/3bth with 1,838sqft.
• 50 Houses with PENDING CONTRACTS!!!

Rowlett ... definetly had a month full of Treats!

• 25 Houses SOLD-  Minimum being: $81,000 for a 3bd/2bth with 1,346sqft. Maximum being: $280,000 for an 5bd/4bth with 4,017sqft. and the Average being: $150,500 for a 4bd/2.5bth with 2,424sqft.
• 24 Houses with PENDING CONTRACTS!!!

Rockwall & Heath ... definetly had a month full of Treats!

• 37 Houses SOLD-  Minimum being: $129,900 for a 3bd/2bth with 1,404sqft. Maximum being: $1,700,000 for an 8bd/7.5bth with 10,600sqft. and the Average being: $270,000 for a 4bd/3bth with 2,968sqft.
• 23 Houses with PENDING CONTRACTS!!!

There's still great opportunity to purchase Your New Home in the amazing Lake Ray Hubbard communities whether it's in Garland, Rowlett, Rockwall or Heath, they all have Year Round Family Fun Activities, Excellent Schools, Golf Courses, Playgrounds, & offer Lakeside Living!!!

• Garland has 596 Houses on the Market
• Rowlett has 257 Houses on the Market
• Rockwall & Heath have 392 Houses on the Market 

Do you need a Realtor that specializes in the Lake Ray Hubbard area? Call or Email me today! 


Do You Need to Sell your home 1st before moving into the Lake Ray Hubbard area, send me an email for specific information about how YOUR subdivision is doing, please contact me ~ As your Lake Ray Hubbard Realtor, I'm here to help! 


Whether SELLING or BUYING, today's complex Real Estate Market requires a professional who can structure a transaction to benefit all parties involved and meet their needs. Let me know how I can serve you or your referrals to better understand the Tax Advantages, Financing Alternatives & Investment Aspects of Home Ownership ... because NOW really is a GREAT time to BUY!

1st Step to Buying a House in the Market

It takes money to buy a home: do you plan on using YOURS or THEIRS. If you're not going to pay cash for a home, you need to find out exactly what you can borrow and what it will cost before you start looking at homes.


The mortgage process is not as clear cut a path as it was a few years ago. It is certainly more complex, takes longer and assumes that you're credit worthy. If you have less than stellar credit, a trusted mortgage professional can advise you how to improve your individual situation.

You are entitled to a free credit report from each of the three major credit bureaus each year. Go to AnnualCreditReport.com to get a copy of each from TransUnion, Experian and Equifax. Read the reports to determine if they're accurate. Surprisingly, about 90% of all reports have errors.
You can try to correct them directly with the credit bureau, but a trusted mortgage professional can help you with this process too. They have tools that are not available to individuals. Some errors may not be serious but others will keep a person from qualifying.

Housing affordability is at a near record height due to the incredibly low interest rates and low home prices. Some areas are experiencing absorption of the inventories which could impact price. If you're going to use "their" money to buy a home, the 1st step is to talk to a trusted mortgage professional. Call me for the name of a trusted mortgage professional.

Rockin' On the Docks Live Music Festival, Rockwall TX

WOW ... it's already time for the 4th annual ROCKIN' ON THE DOCKS Live Music Festival at the Rockwall Harbor!!! This lil' Realtor loves & I mean LOVES LIVE MUSIC!

Come out this Saturday, Oct 22nd for a full day of Live Music (country & rock), Shopping/Vendors, a  Play Area for the Kiddos, Food Vendors and some Boating & Water events. Event starts at 11am and goes until 9pm.


Talk about a full day of Live Music, check out this years' awesome line up ... 

• 11:30-1p ... Chris Rivers Band - the Official Band of Gilley's, Dallas
• 1:30-3p ... Mistral - cover band that Rock'd the Docks last year 
• 3:30-5p ... Stars Grow Dim - Pop/Rock band from Tulsa OK who's opened up for Switchfoot & Chris Daughtry
• 5:30-7p ... Sleeper Star - Rock'd the Docks last year, opened up for John Mayer last year in Houston!, & had 1 of their songs on the new hit show Vampire Diaries!!!
• 7:30-9p ... Collin Raye - Country Music star with many hit songs, including 1 of my favorites, "That's My Story" 

*Discounted Tickets can be purchased for $4 at any Kroger Grocery Store or at the Gate for $5 before 7pm and $15 if you show up after 7pm. (Children 5 & under are Free)


*Not sure how to get to the Harbor ... Here's a link to a map to the Rockwall Harbor to help ya.

2011 TEXAS STATE FAIR, Family Fun Spotlight~Dallas

Who Wants some Fried Butter or perhaps some Fried Coke? Well there's only 2 more weeks left of the 2011 TEXAS STATE FAIR that's in full swing, so you better get a move on it!

                                          

Did you know that the TEXAS STATE FAIR has been a family tradition since 1886??!!!?? That's right, 125 years of Fried Food, Fun, & Livestock!



The State Fair of Texas kicked off this year on Friday Sept 30th and will be open everyday until Oct 23rd with the Fair Grounds opening as early as 7am everyday (buildings open at 10a) and closing at 9pm on Tues-Thurs & 10pm Fri-Monday.


Tickets at the door are $16 for adults and $12 for seniors & children 3yrs to 48". BUT do yourself a favor and buy your ticket on the State Fair of Texas website for a discounted price (adults $13.95/child $10) OR ... stop in to a McDonald's to pick up for a $4 off coupon or Krogers for a $14.95 ticket. You can also bring an empty Dr Pepper can on Tuesdays to get in for $4, 3 Can Goods on Wednesdays to get in for $2, or an empty Dr Pepper can on Thursdays after 5pm to get in for $5, or a Cinemark Theater ticket stub to get in for FREE on Thursdays! *Seniors are FREE on Thursdays!!! Oh & don't forget to bring $15 for Parking.



Did you know that the TEXAS STATE FAIR is the largest State Fair in the country??!!!??



There's literally hunderds of things to do, but here's my Top 5 List of what you Don't Want to Miss ...

• USMC Drum & Bugle Corps, leading off the RELIANT STARLIGHT PARADE at 7:15pm 
• CIRQUE SHANGHAI, A 22 member Chinese acrobatic troupe that performs daily at multiple times 
• CHILDREN'S MEDICAL CENTER BARNYARD, full of sheeps, lamas, goats, pigs, zebras & lots more for the kiddos to pet, feed, & see play 
• GONE TO THE DOGS, jumpin' canine action that performs daily, ... and of course ... 
• BIG TEX, the legendary 52-ft tall icon of the Texas State Fair 

Click here to plan out your day at the 2011 TEXAS STATE FAIR. Have FUN and don't forget your Sunscreen, Wallet, & to stay Hydrated!!!


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