Stories from my Frisco TX home front...

Should You For Sale By Owner?

Fri, 20 Nov 2009 06:50:31 -0600

This question had crossed most Sellers' minds at least once or twice in the decision-making process when thinking about selling their homes. Whether it's selling their first home or their 6th house. Now, know that I am a real estate agent and the reasons I share may sometimes sound biased but have an open heart to receive the information below. It is written only after I know what it truly takes to sell a home. Now, I can say, I got that T-shirt, been there and done that.

It is not to deter any Seller who may want to consider this option. But here are some things to consider when selling your Home For Sale By Owner.

Bottom line

When you are ready to put your home on the market, your home is no longer "your home". It now becomes a property and inventory in the marketplace. However, I do understand "in that home, memories are made". For that reason, it may not be as easy for you to disengage your heart from your mind in looking at this solely from a business standpoint. Here is how your real estate agent can help you focus.

In business, it is ALL about the BOTTOM LINE. There are several statistics show when utilizing the services of a real estate agent can sell your home faster and net you more. In fact, on average, it should net you 16% more (estimate). Sellers are concerned about Realtors' fees, but after paying the realtors' fees, you should still come out ahead than you would doing it yourself.

Negotiations & Probing Questions

Because this is an emotional process for you, you should always use a third-party negotiator to negotiate your contract. You could be strong and get into hard core negotiations to save a few bucks but this process can be draining if you have tough buyers. Buyers in any economy would not want to pay more than he/she has to. Worst still, if the buyers are represented while you are not, negotiating may seem one-sided.

Here in Texas, we are a non-disclosure state. This means sales prices are not made public unless you have access to the Realtor MLS system. We have used this as a guide with SOLD prices published in them. As a seller, you would at most know how much your neighbors listed their homes for sale through Internet sites such as Trulia, Zillow, etc. but you would not have accurate information. You do not even know what is the average sellers before you get in terms of sold price versus list price. Zillow has NOT been accurate information for North Texas.

Information is power to the one who has more.

During a negotiation, agents gather information to get ready for a negotiation. When you start "talking", you gather alot of voluntary information that you could use for your negotiation. A good negotiator has already gather so much information by asking probing questions, yet the average buyer does not even know he/she has volunteered that information for the negotiation.

Negotiation is a honed skill. The more you practise, the better you get at it. When selling your home, if you would agree with me, it's not the time you want to practise. You pretty much want to make sure You're right.

Contingencies

Even if you know that the sale of your home is a business transaction, it's about the bottom line (ie how much you net) and you are an expert negotiator, real estate contracts are written with many contingencies along the way. Contingencies - in layman terms are called weasel clauses to let Buyers get out of the contract should things go wrong. Most contingencies are to protect the buyers from losing their earnest monies. In order to play fair, Sellers curb the contingencies to make sure they are not out of the ordinary and reasonably to expect from the buyers.

Here in Texas, we have our Option period where the Buyers pay some monies to purchase a time period to consider and to inspect the property. The option fee purchased them an unrestricted right to terminate the contract during which the Sellers cannot accept another offer. If you are not familiar with this process, you would not know how much is norm to expect to charge for how long. We have an industry expected amount for earnest monies also. If too little, the buyers have no fear of losing it and if too much, it might scare the buyers away altogether.

We also have Buyer needing to sell a home Contingency, we have buyer financing approval contingency, we have a property approval contingency, we have a title objection, survey objection and HOA objection contingencies. We have an interest rate cap objection, we have short sale addendums, we have many other forms that realtors use to protect both parties to the transaction.

Most buyers use Realtors because their fees are paid by the Sellers (normally). To the buyers, it's almost a non-issue to consider. Buyers represented by agents are now geared up and ready for this showdown.

How about the Seller who may consider doing this his/ her own?
Are you ready to take on the challenge on your own?

Here is also another reason how an agent to watch your back.

Convenience

Okay now. Even if you are a sophisticated seller and you are truly an experienced seller. The next question is: Do you want to do it all or hire a professional to take care of the nitty-gritty of the real estate transaction for you? Would you see the VALUE of not having to worry about the transaction but instead focus on where you want to go?

Remember, the sale of your home is just an obstacle to stop you from going where you want to go. Where you want to go is really the result you desire.

Many homeowners hire house cleaners to clean their houses and landscapers to mow their yards. You could do it yourself but you rather spend your time doing something else. In other words, you pay for convenience. You let someone else worry about the sale of your home.

Most of the time, selling a home is a stressful process. Thinking about where to go next already require alot of time, effort, energy and emotions to ponder. Even after you receive a contract, it is time to pack. There are just many parts to a "move" and the actual selling process is just a part of the equation. It is not the end-all.

Here is how the agent can take that stress away from you to let you focus on where you should go next.

I hope I have written this article with you having an objective and open heart to receive this information. Prior to getting into real estate, I never knew how much it takes to get a transaction closed. It is more than decluttering, staging, getting the contract, putting a yard in the sign. It requires extensive marketing knowledge about the neighborhood and years of home selling experience to know what to protect in a real estate transaction. It is also about handing off the process to a qualified professional.

Because in the end, all you care about is your home sold.

Related Articles:

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Perfecting Your Inventory Knowledge in Your Neighborhoods

Tue, 17 Nov 2009 06:12:33 -0600

This is not a rant, but rather a lesson learnt, obviously very much needed to share with all agents - especially when you plan to represent your clients in a specific neighborhood, be it if you are a listing or a buyer's agent.

Over the weekend, I showed a property in a Frisco TX neighborhood. The agent called for a feedback Monday afternoon. There's 2 things I learnt from the conversation:

(1) The buyer is ALWAYS right.

The listing agent went on and on the phone the whole time explaining to me what are the upgrades in the house. No question about that. However, in a home, whether it is a $1,000 custom made chandelier, or a $100 light bought from Home Depot, Buyers still expect lighting fixtures around the house.

The kitchen is installed with granite counter tops, stainless steel appliances and just tastefully done. But would you expect to sell the house without a proper kitchen? The conversation with this particular listing agent sounded as if these were "bonuses" to the house that you otherwise would not expect.

(2) Listing Agents must know the inventory in the neighborhood.

This neighborhood has high foreclosure inventory. Builders decided NOT to build in this neighborhood temporarily. The foreclosures are not rare-occasions. The only ones that are selling are foreclosures.

I explained that we acknowledged that this home is offered by a regular seller and he would never want to see an offer coming in with a foreclosure pricing. (Note that in presenting offers, Buyers seem to go much lower just to see how low the banks will go).

The question that appalled me in my 15 minute conversation was: How many foreclosures are there in the neighborhood?

I couldn't believed this question and my filters didn't work that afternoon. This is what I blurted out of my mouth:

"You are the listing agent for this house in this community. You should know your neighborhood invntory. I wont tell you how many foreclosure inventories are there because you can find it out on your own. I'm just going to say that there are a few too many".

Well, those that know me know that I'm not a rude, or straight in your face person. But I could sense some anger/ resentment/ disappointment in my tone because I was clearly upset that this agent knows nothing about selling homes in this neighborhood. I looked up his phone number. Sure enough, it was listed with a different area code, his office, some 45 minutes away.

What can I say? This home has been sitting on the market for over 150 days. It is clearly overpriced just with the market conditions and the listing agent is trying to get offers from any showing agents with no very good persuasion skills.

So, here's how you can become the best agent for your sellers:

(1) Set yourself up on property alerts for that neighborhood.

(2) Know every movement in the neighborhood.

(3) Make sure you stay on top of things by evaluating/ reviewing pricing at least every 2 weeks.

Until then, you havent deserve to earn your paycheck from your sellers. Be either very good or don't play. Don't ever let your Sellers know more or sooner than you do in his/ her neighborhood.

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Life could crumble if you are too good at something. They said Balance is Everything.

Sun, 15 Nov 2009 06:28:18 -0600

I never knew the effects of success until I found myself absorbing in it. I've always been a perfectionist and I've always challenged to do better than myself. I've never competed with others, just with me but somehow, raising the bar to soar higher had very much its own horrific side effects.

I talked about how I never quite believed in a BALANCED life because I felt that was life at mediocrity. I felt that philosophy was never good enough for me because I'd be holding myself back in equilibrium.

Coincidentally, I'm living a whacked out life right now with all things just seems out of balance. So, I must say I learnt first hand what it means needing to find a balance despite my challenges of understanding needing to be the best at what I do.

The Best for God, The Best Wife for my Husband, The Best Mother for my son, The Best Realtor for my clients, The Best Cleaner for my Home, The Best Blogger for my subscribers. I just have lots to live up to and I truly dont know how to be balanced.

If I knew if I was going to be a stay-at-home mom, my house would be squeeky clean. If I was going to be a rose enthusiast, my garden would be filled with 88 rose bushes and I would get up at 5am every Saturday morning to spray. If I was going to be a Realtor, I'm just going to set out to just be the best. Instant communication and making my clients feel extremely valued and my presence would make a difference.

People find motivation in becoming successful, inspired and motivated to stay the course. On the other hand, my struggle is to do less of these things.

I never understood how people could work so much, that in the end, they find themselves in a hollow relationship with their family. I've always thought it was the financial success they were after. I was WRONG. I would never look at a Successful person in the same light again. Until I walked the path of Becoming the Best at Whatever I do, I thought they had all done it for money. WRONG.

There is something about leaders wanting to push the envelope. Wanting to see how far they can go. Wanting to see what they could do with their God-given talents. So, they try to excel in everything they do. I, for one belong to this category and monetary success has nothing to do with the intended motivation, although it is a rewarding by-product of the success.

In the bible, it said that we cannot serve both God and money and I took the context "money" literally. I saw people who strived for success are people who longed for materialism. I excluded myself from that group. Yet, I found myself in this same place, back to this scripture. I know I cannot serve 2 masters and I'm still finding it a struggle to understand this concept.

I do believe I'm serving God through my business. Hence, I put my best foot forward every single day. But my family life may have suffered along the way. God first, my husband second, my son third. Sometimes, I'm torn about this very concept. Knowing that I'm called to serve Him, that makes His works first. I guess that's where I find it confusing to draw the line between people and God.

I begin my week here on Active Rain with my God First posts, written every Sunday once a week. My promise to you is that the messages I share will be day-to-day related, often times related to real estate. If these topics are important to you also, I'd love for you to subscribe to my blog.

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Copyright © 2009 by Loreena Yeo (3:16 team REALTY).
Life could crumble if you are too good at something. They said Balance is Everything.

Fabulous, Barely Lived In Home at Grayhawk Estates Frisco TX

Fri, 13 Nov 2009 17:43:07 -0600

Barely lived in, almost new 2-story traditional brick home accented with Austin stone elevation is ready for her new homeowners. Still under the 1st year builder's home warranty, this wonderful 5-bedroom, 4 full baths with an upgrade study/ office boast of luxury at its finest.

Priced attractively and almost $20K lower than brand-new with the builder, there is no reason why not to purchase this barely-lived in home (built in 2008). The owner has only lived in there for 8 months and have since left the property. Utilities will be turned on for buyer's inspection. First Texas Homes with Stonehaven floorplan with the media option and butler pantry's with living & dining options.

Special accent features of home:

The beautiful austin stone fireplace wall draws your eye up to feel the openness and majesty of the home as you enter.
Granite countertops with high-end custom kitchen cabinetry.
Stainless steel Maytag appliances with kitchen island for extra counterspace
Built-in microwave and oven
Faux textured walls in kitchen area
Iron balusters on stairs and stained baseboards along staircase
Large media room with scone lighting and 2-step theater seating. Large media closet storage for your equipment and movies.
4 secondary bedrooms upstairs. 2 on each side shared with jack-n-jill bathrooms. Separated with upstairs gameroom or additional upstairs living area.
Bookcases in gameroom upstairs.
Open formal living and formal dining.
Large walk-in pantry for ample kitchen storage.
Butler's pantry along with wine glass storage with granite countertop
8-foot iron-lead glass front door.
Front porch seating to enjoy the front yard.
Backyard greens and patio for outdoor entertainment.
Large master retreat suite with double scalloped vanity sinks on granite and large stand-up shower area with large garden tub. Yours for the enjoyment.
Full bath downstairs with standing shower.
Built-in cabinets in laundry room.
Pet-free and smoke-free home.
Walking distance to swimming pool from the house.

Warranty Information:

Should buyer be interested in requesting for repairs, Seller will make repairs, as per approval by Builder before February 12 2010 . 10-year structural foundation warranty is transferable to new owner.

School Information:

Elementary School: Robertson Elementary (Exemplary status)
2501 Woodlake Parkway | Little Elm, Texas 75068
Phone: 469-633-3675 | Fax: 469-633-3685
Principal: James Iorio

Middle School: Stafford Middle School (TEA Recognized status)
2288 Little River Rd. |Frisco, Texas 75034
Phone: 469-633-5100| Fax: 469-633-5110
Principal: Robin Scott

High School: Wakeland High (TEA Recognized status)
10700 Legacy Rd. |Frisco, TX 75034
Phone: 469.633.5700 |Fax: 469-633-5750
Principal: Mike Farish

More Information:

This property is offered as a short sale. Hence, buyer's patience in awaiting for lender's approval is crucial. Must include short sale addendum and buyer's pre-approval letter along with contract.

Contact Listing Agent for survey and seller's disclosure.

Driving Directions:

North of Panther Creek Pkwy, turn right into Grayhawk Blvd. Right onto Polo Heights and left onto Plum Valley. House is on your LEFT.

Photos:

Custom cabinetry with graniter countertops, kitchen island for additional
food preparation space, Maytag stainless steel appliances.
Kitchen vent mechanism. Gas stove.

Faux textured light color walls in kitchen area. Bronze lighting package.

As you enter the home, your eye is drawn to the beautiful Austin stone fireplace
wall with wood mantel. This features accentuates the beauty and openess of
the great family room.

Wrought-iron balusters as some of the upgrades in the property. Upstairs gameroom
open to the family room downstairs.

Formal Dining room opens to kitchen.

Formal living room at the front of the property.

Master Retreat with bay window and lots of space for seating area.

Luxurious master bathroom with granite countertop and black scallop sink.

Covered patio for backyard entertaining. Two outdoor ceiling fans for our hot Texas summers.

Lot size is 68.5ft x 120 ft. Larger than typical size for new Frisco backyards.

Front porch for seating to enjoy the front yard.

8-foot front door with Austin stone exterior accent.

Just waiting for her new homeowners!

Call to make an appointment for a private showing and at your convenience today.

Mobile Info: TEXT "info 34248" to 79564

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Copyright © 2009 by Loreena Yeo (3:16 team REALTY)
Originally Posted on Short Sale Listing at Grayhawk Estates Frisco TX

Heroes Come in ALL Shapes, Forms & Sizes. Yes, Realtors too!

Fri, 13 Nov 2009 06:26:27 -0600

My Realtor friend, Janna Rankin of Coeur d Alene ID shared a beautiful short sale success story on her blog recently. She helped her clients tirelessly fight through some challenging times with the bank. But in the end, when the short sale was approved and the sale was successfully closed and funded, Janna mentioned that she didn't find a cure for cancer that day, or pulled someone out of a burning building. But to these frazzled homeowners, she was a hero. A hero because she found a solution to their never ending nightmare. A hero because after fighting for so long (with their lender), they finally found someone who listened and helped.

If I never worked a short sale selling side, I thought a buyer's agent role in a short sale process was challenging. So many times, I heard that buyer's agents deter their clients from showing short sales because the truth is that, the sale may not be approved. In the end, the buyer waited all these times only to NOT have a house to call their own. That is difficult. And no buyer's agent wants to constantly calm an impatient buyer - "Have we heard back yet?" I'm sorry Buyer's agent. It's not about you and it's not about me. It's about helping the seller get out of a financial calamity while your client purchase a property lower than the fair market value.

If I never worked a short sale selling side, I never knew the mountainous side of paperwork that is involved. The paperwork nightmare begins on Day 1 when the listing is taken. Don't forget, this is still a normal sale. Hence, the short sale selling agent would still need to actively market the property. However, it is a race against time. Like any other sale, we don't know when the buyer would show up with an offer in hand so the seller can begin the approval process. Until then, some banks wont even talk about a resolution. By the 3rd or 4th month of non-payment, the foreclosure notice is sent out. The pressure is really on by then. I'm a highly organized person in nature. Hence, it's my nature to document my transactions - especially with short sale transactions. I have a escrow checklist. But that still doesn't ease the pressure of needing to get the short sale approved before foreclosure proceedings takes place.

If I never worked a short sale selling side, I never knew how much time I had to spend on the phone. Time spent to check on status, time spent to verify that documents have been received, time spent just to reach the right person. I've heard of every listening music tone there is! Some I like as background music, some I dont.

If I never worked a short sale selling side, I didn't realize how much more REAL work is involved when compared to working a regular sale. Yes, I actually have to work this time. So, go figure. Then, only to find that lenders try to stop bleeding from ALL sides (try to get sellers to foot a small bill, the buyer to pay a little more and the agents to reduce their paychecks).

Serious dedication is needed to work on the short sale selling side. No question about that. But, those of us to have a heart to serve the communities we live in would do that in a heart beat, for all the reasons Janna talked about. If we didn't love our people, our clients, we would never venture into unchartered territories to potentially find that we may earn less, work more or worse yet - find our clients be foreclosed upon simply because the numbers may not have worked for the lender.

Yes, in the business world, it's all about the numbers. That's where we the agents come as a bridge between numbers and real people, with real problems that they didn't want to be in in the first place.

Ahhhhhhh ------ It may seem that I think too highly of myself (ourselves) as heroes to our short sale selling transaction. But because I take pride in helping sellers do that, even if it is pride for some to think, so be it. I (We) know our hearts and I (we) will always help. That's what we are here for.

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Short Sale Seller Myths Debunked

Thu, 12 Nov 2009 20:15:22 -0600

Sellers are often confused and mis-informed during a short sale process. This article is in hopes that the myths are debunked.

In a short sale transaction, the Seller owes more than he/she can sell the property for. For whatever reason, the seller may not have enough money to break even on the transaction - whether it is a decline in property value, income loss or short of finances to pay the cost of selling the property.

When a real estate broker is hired to put the property on the market, the broker signs a listing agreement with the seller. The seller is still the seller, and a responsible party to the transaction. The seller did not sign away the property or ownership rights to the lender. The seller still has legal responsibilities to perform on the contract when the buyer purchases the property.

The seller's lender role in this transaction is only to approve the "short" amount. Hence, "short sale" approval. The property is NOT handed off to the lender like most sellers think. The seller is still the legal owner of the property.

When a short sale is approved, the seller may have additional tasks to fulfill in the contract. All these depends on how the contract was accepted by the Seller. The seller signs legal documents to transfer title to the new buyer. The bank does not. The seller still shows up at the title company.

The seller may have to bring additional funds to the closing, the seller may sign a promissory note for the "short" amount or the seller may just walk away. The outcome depends on the negotiation of the short sale.

More often than not, as soon as the seller signs authorization for the real estate broker to speak/ deal on behalf of the seller, the seller thinks that his/ her role is handed off to the broker. Not the case.

Related Articles:

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Implied Agency, Procuring Cause and An Important Home Buyer's Education

Wed, 11 Nov 2009 18:46:59 -0600

An implied agency in Texas is a broker and buyer relationship where there is no express agreement for broker to act as agent for the buyer. The actions, conversations and activities may lead to an "implied agency". However, the buyer may have a different set expectations from that meeting. than the broker performing the service.

"We saw a house on the internet and called the broker who listed it to set up an appointment to see it. The listing agent sent another agent to show. We have not engaged in a buyer's representation. After showing the house, the agent mention that he would write up the offer for us. We are interested in the house but we want to use a different agent to represent us".

When a broker/ agent have not discuss and confirm the relationship and representation at the first meeting, the unrepresented buyer may assume that the broker/ agent is just out there to merely show houses to him/ her. The "bigger" issue of the unrepresented buyer will then be working for the Seller - whether or not, the broker/ agent is the listing broker/ agent. Thus, anything that the buyer says to the broker/ agent The "bigger" issue of the unrepresented buyer will then be working for the Seller - whether or not, the broker/ agent is the listing broker/ agent. Thus, anything that the buyer says to the broker/ agent could potential be too much information that may hurt the intention of purchasing the property.

In an "implied" agency relationship, this relationship is successful when both parties are in agreement to enter an "implied agency" relationship. However, more often than not, buyers simply want access to the property and not necessarily be in a business relationship with the broker/ agent who showed the property.

Implied agency or Buyer's agency is one of the clarifications needed in the example above. However, when the Buyer is interested with the property and wants to purchase the property now has a procuring cause issue. Procuring Cause is how a broker/ agent gets paid. Thus, if this agency relationship is not clearly defined at the beginning, it can cause Procuring cause commission disputes among agents. Disputes arise when "showing" agents think that they are the procuring cause to the sale while procuring cause is clearly defined as the agent who ultimately brought the buyer that cause the sale of the home, presented the offer, successfully negotiated the acceptance of the offer hence earned the commission he/she deserves.

Most consumers do not understand how brokers are paid. Hence, it is the agent's duty to explain. Buyers do not know that they open themselves to a can of worms when they speak to agents in which they have no desire to get in a business relationship with. The best way to protect yourself against procuring cause is:

Get into an implied agency specifically discussing buyer representation
Sign a buyer's agent agreement
Do not ask the listing agent to show you the property
Do not let another agent that you have no desire to get in business with to show you properties

I do not like implied agency and the problems it may cause. Upfront disclosures are needed to clarify the relationship so that there is no mis-communication or mis-representation or there lack of. The best relationship is affirmed in writing with a Buyer Representation agreement.

Some consumers (including brokers and agents) find it difficult to get into a signed buyer's representation agreement. They (both parties) feel like they are getting themselves tied down in a committed relationship without knowing each other. One way to resolve this issue is for both parties to sign a one-day buyer's representation agreement or representation based on the properties that were shown that day. That way, no parties are obligated to each other should that relationship not work out.

Related Articles:

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Copyright © 2009 by Loreena Yeo (3:16 team REALTY)
Originally Posted on Implied Agency, Procuring Cause and An Important Home Buyer's Education

Forget that Outta Box Creative Thinking, How About As Simple As Answering That Phone Call?

Tue, 10 Nov 2009 07:15:53 -0600

Barry Owen wrote this post, Out of the Box thinking Creates a Level of Service Your clients will rave about. In his blog, he offered a variety of knock-the-socks-off out of the box strategies. Some done more often than others, some pretty creative.

Here's my take on the subject:

Our clients may not necessarily remember what you did to market his or her home. In the end, I believe they will remember if you were responsive to their questions and concerns, if you returned their phone calls in a timely manner.

Now, that's a secret.
(Insert sarcasm here)

I say, if you want to deliver a Level of Service your clients will rave about, Pick up your phone when it rings or if you have to return the call, do it in the next 10 minutes. Now, that's something to remember. Something they will tell their friends about. They wont remember Marketing Plan A from B.

Sometimes, we don't need out of the box thinking. We just need to do what's right. Get back to basics. Answer that darn phone! Even if you are on an appointment with someone, simply excuse yourself for 1 minute, tell the caller that you will return his/ her call in X hours. I let my clients know that I take other calls when I am with them. When it's their turn, they know they will get to speak to me also. All my clients are important.

A human voice is important to hear.

There's nothing more frustrating than leaving a message on a voice message especially with technology working for you. "Wait while I connect you to the party you're calling..." Why cant I just leave a message if you didn't answer. Why let me sit through all the connect, and disconnect? Okay, that's an unintended rant. But you get what I mean.

We always crack our head to do this social media right, create unforgettable moments with "stuff". I think the answer lies within simple basic stuff. Answer that darn phone.

If you could answer your phone, or reply your client's email as soon as you receive it, now that's something to rave about. Dont you think so?

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Copyright © 2009 by Loreena Yeo (3:16 team REALTY)
Forget that Outta Box Creative Thinking, How About As Simple As Answering That Phone Call?

Home Buyer Tax Credit Questions & Answers

Mon, 09 Nov 2009 19:41:54 -0600

First Time Home Buyer & Repeat Buyer Tax Credit
QUESTIONS & ANSWERS Explained

All new first time home buyer and repeat buyer Tax Credit are effective immediately. It does not have to occur on December 1 2009 in order to qualify. All closings occurred on November 6 2009 qualifies for the new & improved first time home buyer and repeat buyer tax credit.

First Time Home Buyers

The $8,000 first time home buyer tax credit applies to home buyers that purchase homes at $80,000 or more. Anything less than $80,000, the tax credit that applies is 10% of the purchase price.

Repeat Buyers

There is NO PROVISION that stipulates that the Repeat Buyer must purchase a home more expensive than the one sold.
There is NO PROVISION that says the Repeat Buyer must sell the home before the new one close.
Qualifying sale of existing principal residence must be any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased.

New Income Limits

For home purchases on or after November 6 2009, new income limits raised to Modified Adjusted Gross Income of $125,000 for a full refund and phase out adjustment up to $145,000 for single taxpayer.
Modified Adjusted Gross Income of $225,000 and phase out adjustment up to $245,000 for married taxpayers.

Purchase by a Dependent

There was no age limitation on the original bill and amended for the November Tax Credit. Taxpayer must be at least 18 years old to qualify for the credit. For married taxpayers, the taxpayer shall be treated as meeting the age requirement if the taxpayer or spouse meets the age requirement.

Repeat Buyers

There is no criteria that home buyers must "move up" in house. Only that they lived in the house for the past 5 out of 8 years as a primary residence. The new purchase price must not exceed $800,000.

Date of Enactment = November 6 2009.

For 2008 Purchases

For home purchases in 2008, the tax credit works as if it is a 15-year no-interest loan up to $7,5000. The total amount of tax credit equals 10% of home purchase price.

For 2009 Purchases

For home purchases in 2009, the tax credit is 10% of purchase price to a maximum of $8,000. On or after November 6 2009, repeat buyers qualify also.

Tax credit:

Applies to taxpayer's principal residence
Reduces taxpayer's tax bill, dollar for dollar
Is fully refundable which means if the taxpayer is eligible and owes no tax, taxpayer will receive a full refund.

When to File For This Tax Credit

First time home buyers who purchase a home in 2009 can claim the tax credit on 2008 tax return by filing for an amended return or 2009 tax return. Credit may not be claimed before closing.

The credit is claimed using Form 5405 with an original or amended tax refund.

To file an amended tax return, use Form 1040X.

FEATURE	Jan 1 – November 30, 2009 Rules as enacted February 2009	December 1 – April 30, 2010 Rules as enacted November 2009
First-time Buyer – Amount of Credit	$8000 ($4000 married filing separate)	$8000 ($4000 married filing separate)
First-time Buyer – Definition for Eligibility	May not have had an interest in a principal residence for 3 years prior to purchase	-Same-
Current Homeowner – Amount of Credit	No Provision	$6500 ($3250 married filing separate)
Effective Date – Current Owner	No Provision	Date of Enactment
Current Homeowner – Definition for Eligibility	No Provision	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Termination of Credit	Purchases after November 30, 2009.(Becomes April 30, 2010 on Date of Enactment.)	Purchases after April 30, 2010
Binding Contract Rule	None	Written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close
Income Limits	$75,000 – single, $150,000 – married, Additional $20,000 phase out	$125,000 – single, $225,000 – married, Additional $20,000 phase out
Limitation on Cost of Purchased Home	None	$800,000
Purchase by a Dependent	No Provision	Ineligible
Antifraud Rule	None	Purchaser must attach documentation of purchase to tax return

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Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Train up a child in the way he must go

Sun, 08 Nov 2009 20:55:06 -0600

It's my heart's desire that I bring my son up to know the Lord and to love Him with all of his heart. To want to serve Him, please Him and follow Him.

Today, I'm able to witness a young servant's heart. We (my husband and I) want to start young to build a heart full of others.

It is my duty to bring him up well everyday of my life.

As a mother, I am truly proud of my son for cleaning tables and chairs at our Hope Cafe every week (2-year old style). But it's always an awesome start. After his morning milk, he walks to the kitchen to help me put silverware back into the cabinets. He sits with me in the morning as he writes and colors while I check my morning emails. Then, we play and have breakfast.

Never underestimate what you can teach a child, even at 2-years old.

Scripture of the Week:

Train a child in the way he should go, and when he is old he will not turn from it.
Proverbs 22:6

A young servant's heart from mikey yeo on Vimeo.

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

First Time Home Buyers Go Through a Stressful Time: Be Empathizing

Sat, 07 Nov 2009 19:29:38 -0600

Serving first time home buyers have been one of the highlights of my career. An agent who serves first time home buyers need to be able to fully grasp the emotional roller coaster our clients go through. We handle contracts everyday. We take clients from house-hunting through the closing table. We do this seamlessly and professionally but we forget that our first time home buyer clients take a huge emotional baggage with them. Most of all, we as professionals taken for granted many things we do everyday but our first time home buyer clients don't feel exactly the same way.

Did they do the right thing? What if there is a better house out there? What if this, What if that? That's the role real estate agents play in serving this particular segment of the population: First Time Home Buyers.

Well, if you have forgotten what it "feels" like to be a first time home buyer, please read my client's words below. Our first time home buyer clients are packed with all the emotions when buying a home.

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Recently, I was privileged to work with Tracie Gaston - a wonderful client who was very proactive in her quest to homeownership. I cannot find a better client. With Tracie's permission, she wrote:

Hi Loreena,

As you can see below, if you ask me to write something, it's kind of hard for me to make it brief. I know you asked me to give my testimony that was more directed towards my experience as a new homeowner and not necessarily about you. Well, I'm sorry, I have to share my experience with others. I was so lucky to have found you as a realtor. Otherwise, this experience could've been a very different one. Although this is very long, I really hope you have a place to post it because I really want other people to know what an awesome realtor you are!

At the age of 37, I finally decided to take the leap into home ownership. I had been thinking about purchasing a home for years, but always found a reason not to. I think my reasons or excuses for not purchasing a home stemmed from my fear of the unknown.

I was totally clueless about the home buying process, so I did what most first time home buyers do, I got qualified for my loan and started looking for homes via the internet. I found a house I wanted to see, so not knowing any better, I just contacted the agent who posted the listing. Boy was that a mistake. This particular agent did not listen to me when I explained to her what I was looking for in a home, so she basically wasted both my time and hers by showing me houses that I wasn’t interested in. Not only that, the agent wasn't even familiar with the area I was looking in!

At this point, I was very discouraged. I was searching for homes in the Plano/Frisco area. Almost every time I pulled up a listing, Loreena's name and website popped up (kudos to Loreena on her marketing efforts!). I clicked on Loreena's company website one day and started reading her blogs.

I couldn't believe how much valuable information was on her website. If Loreena had this much information on her website, I knew she'd be perfect for a clueless first time home buyer like myself.

I also appreciated that fact that Loreena was not afraid to mix her God First posts with her real estate posts. I contacted Loreena and set up an appointment to view some properties. When I met Loreena and we viewed houses together, I knew she had to be my agent!

I was impressed by Loreena's knowledge of the area and her sincere and honest approach to her job. I don't know how I knew, but somehow I just knew that she would not steer me wrong. I gave Loreena a list of my requirements for my home. One of which was that I did not want an East/West facing home due to the extreme heat from the Texas sun beaming through windows and the backyard.

To my surprise, the next time we toured homes, Loreena assured me that she had previewed the homes to verify that they were North/South facing since that was one of my requirements. I was so impressed and Loreena continued to impress me throughout my entire home buying experience.Loreena walked me through every step of the process and was in touch with me daily to give me updates.

A couple of my faults that I can admit to are that I'm impatient and I get stressed pretty easily. Loreena kept me grounded and stress free throughout the entire process. I think the thing that really made the experience so great is that I truly trusted Loreena. I felt like she always had my best interest in mind and not just her commission. It's so hard to find people you can trust these days and people who actually care about providing good customer service.

Loreena far exceeded my expectations by providing outstanding customer service. I trusted Loreena from the first day I met her and she proved that my gut feeling was correct. I'm also very happy to say that I not only met an awesome realtor but I gained a friend in the process. Thank you Loreena for making my first home buying experience a very pleasant one! After renting all of these years, I finally feel like I'm truly home.

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Copyright © 2009 by Loreena Yeo (3:16 team REALTY)
First Time Home Buyers Go Through a Stressful Time: Be Empathizing

Real Estate Business is NOT for Broke People

Sat, 07 Nov 2009 07:12:32 -0600

I've said it like it is. Have I offended anyone yet? If I have, well - I would be lying if I said I didn't mean to hurt your feelings at least one bit, but I mean to say it just the way I think it will bring enough attention to at least forewarn you.

My dear friend Anna Banana of Phoenix Arizona brought awareness about the cost of getting into the Real Estate business. She listed all the initial costs of getting into the business as well as on-going costs to stay in business. It's not funny, people - when you start adding up.

Here's what I learnt about my tenure in real estate:

A large reserve prior to getting into the business

I started in the business part time because I didn't know if I would make it and whether it was for me. So, when I first became a Realtor(R), all my paycheck went into paying off my last consumer debts (my cars) and then, I built a large cash reserve for when I do get into the business full time.

I saved 12-months of monthly expenses and built a 12-month reserve before I felt comfortable to do this full time.
I kept my business expenses low, real LOW

When I first went into the business, I bought a laptop because it was easier to carry my "office" everywhere I went (I still had a full-time job at work but I didn't feel comfortable doing other work on my corporate computer. I worked on my real estate business at my lunch hour).
I already had a cell phone and I didn't increase my cell phone minutes.
I paid the dues I need to do and that was it.
I did business with my friends, family and referrals. My marketing dollars were ZERO for the first 3 years and it kept me fed. All my friends used me to purchase their first home.

My only marketing was my website, designed and hosted by LinkUSystems. It cost me $29.99 per month and $29.95 per month for my IDX solution from 1parkplace. My website has evolved to what it is today because I work on it everyday. It has been a consistent source of business for me.
I hired a coach when I went into the business full-time.

My coach was Ms. Jennifer Allan. I started the business with some bad habits to have to un-learn. Jennifer helped me do that.
I paid Jennifer through my transactions. It was not an upfront fee which I truly appreciate.
When I got paid, she got paid.
Then I joined Active Rain in November 2006.

Since I have been grandfathered, I do not pay for my Rainmaker membership. I paid for my outside blog though which costs $19 per month.
Thus far, it's the only marketing effort that has produce TREMENDOUS Rain POURING Effort for my business.

If you are a new member now, you have to pay $30 for a Rainmaker membership - and you do this because you want the public to be able to find you on Google. Otherwise, your posts are only made public. All your hyper-local posts will be wasted effort if you are not a Rainmaker.

Total $360 per year, paid monthly. Where can you up?
Click on this promotion code to start your Rainmaker membership at $5 the first month.

Try it for 6 months. If it doesn't work out after you tried everything about Blogging Active Rain, you only had $180 to lose.

If you do sign up, or are a new Rainmaker, read Your First Days on Active Rain.

Tip: I make my blog and website as a combined effort of my Internet marketing efforts. One is not complete without the other.
I signed up for Katerina Gasset's SEO to the TOP WEBINAR.

$300. One of the best education dollars I spent.
Read how I turned 400K points into $122K by simply tweaking what I already know with what Katerina Gasset taught in her classes.
I hired a NEW COACH

Many coaches constantly talk about Tiger Woods and how he's already an awesome golf player. But he still had a coach. Guess what? I do what EXCELLENT PEOPLE DO AT THEIR JOB. I mimic them. I hired a coach to keep in tact.

I recently signed up with a new coach to push me even further. Kathy Eppley. In just 4 weeks of coaching, it looks like I will end 2009 with a BANG and to raise the bar even higher for 2010.

I do have other expenses that I spend on. But these are the ones that I know made SIGNIFICANT enhancements for my business.

Now, are you convinced that the Real estate business is NOT for BROKE people?

Quote of the Day:
We are What we do repeatedly. Therefore EXCELLENCE is NOT an act but a Habit
by Aristotle.

What have you done to ensure your longevity for this business?

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

First Time Home Buyer Tax Credit Extended and Expanded to include Repeat Buyers

Fri, 06 Nov 2009 18:24:14 -0600

FEATURE	Jan 1 – November 30, 2009 Rules as enacted February 2009	December 1 – April 30, 2010 Rules as enacted November 2009
First-time Buyer – Amount of Credit	$8000 ($4000 married filing separate)	$8000 ($4000 married filing separate)
First-time Buyer – Definition for Eligibility	May not have had an interest in a principal residence for 3 years prior to purchase	-Same-
Current Homeowner – Amount of Credit	No Provision	$6500 ($3250 married filing separate)
Effective Date – Current Owner	No Provision	Date of Enactment
Current Homeowner – Definition for Eligibility	No Provision	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Current Homeowner – Home Purchase Price	N/A	There is no provision that the "repeat" homebuyer must purchase a property more expensive than the one sold. Only that the home purchase must be less than $800K.
Termination of Credit	Purchases after November 30, 2009.(Becomes April 30, 2010 on Date of Enactment.)	Purchases after April 30, 2010
Binding Contract Rule	None	Written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close
Income Limits	$75,000 – single, $150,000 – married, Additional $20,000 phase out	$125,000 – single, $225,000 – married, Additional $20,000 phase out
Limitation on Cost of Purchased Home	None	$800,000
Purchase by a Dependent	No Provision	Ineligible
Antifraud Rule	None	Purchaser must attach documentation of purchase to tax return

Purchase by a Dependent

Repeat Buyers

There is no criteria that home buyers must "move up" in house. Only that they lived in the house for the past 5 out of 8 years as a primary residence. The new purchase price must not exceed $800,000.

Date of Enactment = November 6 2009.

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

All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Copyright © 2009 by Loreena Yeo (3:16 team REALTY)
Originally Posted on First Time Home Buyer Tax Credit Extension & Expansion

Short Sale Done ABSOLUTELY Wrong

Thu, 05 Nov 2009 17:41:23 -0600

Well, after fighting and hanging on for over 9 months, it (Citibank) finally pulled the plug on a short sale listing I was involved in. This post is not a rant, rather a story to share with buyers and sellers that sometimes, no one wins when the property goes into foreclosure. Worse still, after having multiple offers as well as a very good solid offer waiting for 9 months.

Now that it's behind me, I'm going to take this opportunity to spill out the guts of this transaction. Very sad and most of all, I feel horrible for having a very disappointing client.

I represent the Buyer. We went into contract after the property was on the market for 6 months. When we submitted the offer, the listing agent advised us that her client has stopped making mortgage payments on the house that very month. This was February 2009. Okay, nothing alarming - in my opinion.

The owner of the property was deceased and her mother was the executor of the estate. The mother lives in Illinois while the property was located in Allen, TX. Just the perfect house for my client.

This was a regular sale when we went into contract. We inspected the home and my client worked on getting his loan. There were some property condition issues that came up that had to be a part of the loan approval process. This went on for almost 2 months. Something in my gut feeling told me to stop and wait for the seller's side to sign off on the repairs.

That was when we found out that the loan amount on the property now is more than the sales price. Very quickly, we found ourselves that we were in a "short sale" situation, but not by much.

Before you know it, 1 month has elapsed and the property was slapped on Forced insurance and attorney fees on Citibank's side because they were planning to take the property into foreclosure. This is probably our 3rd month into the transaction. It is mid-April by then.

The Seller's attorney demanded for payoff information - to which he has constantly been getting the run-around. No one at Citibank seems to have a clue who is the Asset Manager or who has authority over this property.

Every month then on, the property would be posted for foreclosure, but every month, the buyer and seller re-signed the amendment to show Citibank that there is a willing, ready and able buyer for this property - who has first not shorted in payoff by too much.

June, July, August, September and October passed. Every month, the same thing. The listing agent, bless her heart, worked so hard on this transaction because we are talking almost every other day. We are like sisters now.

I received a phone call from the Seller's attorney. He said, "Loreena, I'm sorry. The property was sold in foreclosure just this past Tuesday. I'm so sorry. I know how much your client wants this house. We fought so long and so hard but it still didn't work out".

You know, everyone in the transaction was doing the right thing especially for my buyer who patiently waited for 9 months. We knew that the Seller could just turn the keys in, wash her hands and walk away since it was her deceased daughter's estate. The mother made many months of mortgage payments until she decided

she couldn't do it anymore. She kept utilities on and did everything a proud mother would.

I had to be the deliverer of the bad news. I hate that. But my client is taking this news well. We know it happened for a reason.

I don't want to begin my posts on Short Sale in a negative tone. But it's been on my heart that I want to share it. I didn't like the fact that it didn't have to be this way for both the Buyer and Seller. My buyer waited 9 months for the property. The seller wanted to clear her daughter's estate with a good name even though there was no equity. Everyone was doing the right thing except - you guessed it. Citibank!

I believe big banks like Citibanks can be huge and very inefficient. And here we are wasting our tax dollars to fund stupidity and inefficiency that didn't need to happen. I'm sorry. I'm going to say it one time.

This is bull crap #$&*$$^&*TRR^*((**
BOO Citibank!

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Master Your Barrier to Entry in the World of Success with Blogging

Wed, 04 Nov 2009 19:06:50 -0600

This phenomenon has recently happened to me (more accurately - perhaps in the last year), hence I'd like to share that with you. Very appropriately, discussing it here on the ultimate real estate blogging platform as part of my effort to encourage you to take on Blogging For Business - if you like to see some successes in this area.

Why Blog? Why Write?

If someone were to ask me for ONE thing that I can point out about my recent real estate successes, it would be "blogging" ie writing. It's not so much that I am an awesome writer, but it's a skill that I didn't know I had when I first took on this challenge here over 3 years ago.

Blogging ie writing captures your thoughts, strategies and ideas. The discipline and endurance needed here (Blogging Active Rain) requires serious effort and commitment to put these ideas thoughtfully and methodically. As a result, it fulfilling and it leaves a legacy of what you are.

Although just a simple act, not everyone has the persistence to put forth one post after another. Hence, when someone tells me that Points don't matter to them. I said, Yeah right. Points matter when it shows commitment to the task you set before you.

If writing doesn't come naturally to you, learn it. Learn how to clearly and concisely put your thoughts into well-organized ideas. When you think you are not a good writer, then maybe you are. But it doesn't have to stay that way. You can learn. Learn from others. Learn to refine your style and find your voice.

Your collection of blogs say alot about you.

There is nothing like the power of the written word. It's affirmation that your thought-process is clear and your direction in your business is sound.

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Copyright © 2009 by Loreena Yeo (3:16 team REALTY)
Master Your Barrier to Entry in the World of Success with Blogging

How to Be a Better Lender to Your Realtor(R)

Wed, 04 Nov 2009 10:43:59 -0600

I've worked with many lenders over the years, serving my real estate clients. I thought I would share three simple tips on how to outperform your lender competitors out there just by doing these 3 things, and doing them well:

(1) Read the contract in its ENTIRETY

I am surprised MANY DON'T read the CONTRACTs. I am not sure what they do with them since they want a copy of the executed contract anyways. If it's in your hands, at least go through it once. Be proactive about your business. More often than not, I receive emails asking this, or that ..... and I realized that if they had just picked up the contract to read, they wouldn't have to ask. It's one thing to ask for confirmation, but it's another to ask as if you didn't know.

I don't know what is required of a Lender in Mortgage school here in Texas - if they are required to learn to read contracts or know what they mean. To outperform your Lender competitors, study that darn thing and learn it well. I, for one will be impressed because many don't.

Critical dates on contracts mean ALOT to the clients we serve. Our clients may not know a difference between 10 days of Buyer Third Party Addendum versus 30 days, but that's why they count on us.

Lenders can/ should take part in ensuring that we make note of critical dates (especially those concerning the Lending part of the transaction). Now, that's a real keeper if you are a Lender that can impress me with a Critical Date sheet you have set for yourself and share it with me. We can cross check ours.

If you are an out-of-state Lender but still want to do business in different states with different contracts, please learn ALL of them.

(2) Communicate often, better yet ... before Status Updates are expected

Most of the time, lenders that I built relationships with are usually quick to respond when I ask for a status update. If you want to know how to win a heart of a Type-A personality Realtor(R), learn to give updates before they are expected. Remember that Type-A personalities are already usually on top of things, but if you can impress your Realtor(R) by striking first, you are more a reason to be a "keeper". It shows that you are on top of things.

For whatever reason, lenders that I usually have not built a business relationship prior to a transaction with are usually not great in delivering quick and acceptable communication. There will be a week when time have passed and I have not heard from the Lender. And when I send an email for a quick update, it usually takes half a day for a response. Nope. Won't work for a Realtor(R).

Some Realtors(R) like me do NOT believe in the "No News is Good News" philosophy.

(3) Deliver a Smooth Closing

As much as a client may negotiate for less fees and lower interest rates, all they really want at the end is a SMOOTH closing. As a Realtor(R), I prepare my clients for stress, closing extensions, etc. to help curb the stressful and emotional situation. As a Lender, you can do that too. No one in the transaction knows it sooner than you (Lender) do, so be upfront and whenever possible, give ample warning.

It's easier to break it slowly and as you know it, rather than to have already known this problem for a week, and now just sharing the possibility of the loan not closing on target 2 days before it's suppose to happen. By then, no one is happy.

One thing I realize... if you have outperform expectations of your favorite Realtor(R), you don't need to ask for more business. It will naturally come to you because you earned the RIGHT for MORE BUSINESS. You've showed how you can perform and there is no reason NOT to use you again. We all want the same thing. As a Realtor(R), I want to set myself with a successful winning team. If you are the jewel Lender, of course you've booked your seat on the bus for the next ride.

But if you never communicated effectively, you need me to explain the contract to you and you fail to share information about closing not happening as intended, and the last sentence out of your mouth is for more business... Sure, just wait.

An awesome Lender is a true treasure in a successful real estate transaction. Be one!

Now, if you plan to do this well, you do not need other marketing plans to help grow your Realtor(R)s' businesses. You work well in yours, it naturally abundantly flows out to others.
PS: I've been offered by many lenders in the past to help me with marketing expenses, website domains, call captures, etc. All of that are fine and definitely very much appreciated in helping me offset my expenses, but if you cannot do your primary responsibilities well, I really cant help you much. In return, I can't accept your goodwill also.

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

All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Homeownership is a Privilege

Tue, 03 Nov 2009 19:35:55 -0600

Homeownership is a privilege, not an entitlement simply because it's time to own rather than rent. While I know I will step on some toes, I want to fully disclose that I do know that bad things can happen to good, honest, hardworking people. I know that a lawsuit, a divorce, a job loss, a medical debt, a bankruptcy, a foreclosure can take down a financial empire. That's not what I mean. But I have also known people who has been irresponsible with finances. Those who simply want to walk away.

In my previous post, Renting feels like it's Borrowing, I shared a client's own words on how he felt about transitioning into homeownership and how much more he feels is enriched because he is in his own place now. When he was renting, it felt as if "he didn't belong there" and as if "he was only borrowing".

Renting is not a sin. Renting may be the answer for some people in some circumstances, whether it is a temporary place to figure out the next step, a temporary spot for financial clean up or even a season in life where you didn't want a homeownership commitment. All those reasons and more are absolutely totally acceptable so as long as renting is not the way of life on a long-term basis.

Homeownership should be rewarded for those who can show high financial responsibility. Hence, no late payments and no blemishes on credit worthiness. Homeownership should be treated as if it's a privilege - a special favor for those who are deserving.

When banks have to seize properties back in foreclosure, no one wins. The bank losses, the homeowner losses and even the neighbors hurt in property values when massive foreclosures occur in neighborhoods.

Related Articles:

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Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Renting Feels Like It's Borrowing

Tue, 03 Nov 2009 08:41:37 -0600

A home means different things to different people. For some, it's a symbol of status - "I have already arrived"... For others, it's a sanctuary. A place like no other.

As for one of my clients in his very own words ...

Having owned a home once before, over 15 years ago, it was in many ways nice to move into a rented townhome, free from the burdens of work associated with owning a home. But there was a price to that. Most of all, it's the feeling that you don't really belong there and you are just borrowing.

So, every couple of years, I would look for a home to purchase. However, I had such specific requirements that I never could find a place that can come close to meeting my desires. Also, I could not find a Realtor(R) that was patient enough to wait out the search process over a long period of time to allow the right house to come onto the market.

It was great to find a Realtor(R) with the insights to understand my desires, to not rush into just any house and have the patience to stick with the endeavor over the course.

That said, I am now happily in a home that met all of my requirements in some fashion. It's wonderful to be living in my OWN place, despite the extra work and expense of home ownership. In many ways, the home has exceeded expectations, especially due to the beautiful deck/creek view out back, which is a constant source of visual beauty. It's nice to finally be at home now!

A year and a puppy later, my client is exceptionally happy where he's at.

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Be Blessed Where You're At

Sun, 01 Nov 2009 20:27:02 -0600

I've heard many comments from some of the nicest Christian friends I have. I don't do this or, that to be blessed, but I still don't understand why I have to go through this "trial"...

On this Sunday God First post, I want to take time to ponder how much we know all that are commented are so true. But how would we know that we are not already blessed to be where we are at???

Maybe it's a job loss, or a pending foreclosure or short sale... Maybe someone in the family is just diagnosed with a terminal disease... Maybe we are going through some relational strain with our spouse.

I just want to say, Maybe we are already blessed where we are at by not being in a worst position. After all, we wouldn't have known. We could be in one place at one time. Whatever it is, take the month of November to be thankful for what we have, be grateful for what's to come.

Scripture of the Week:

1 Corinthians 2:9

No eye has seen, no ear has heard, no mind has conceived what God has prepared for those who love Him

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

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Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Fabulous Fall Colors 2009 of Frisco TX

Fri, 30 Oct 2009 10:10:35 -0500

Our Fall Colors in Frisco TX are beautiful. The season is changing and it is feeling more like Fall weather every day. We also never had such a wet October like we did this year. Enjoy the Fall colors nature brought for us to enjoy.

Also, don't forget to set your clock 1 hour back on Saturday night before you go to bed. Now, that's an extra hour for you to do whatever you want with it. Don't say you don't have enough time in the day.

The photos are taken by Loreena Yeo of 3:16 team REALTY.
Please do not use without permission.

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Being a Mom lets me be a Realtor(R) too!

Thu, 29 Oct 2009 11:17:29 -0500

The power of being self-employed gave me the abundance of opportunity to take so much presence in my son's life. This morning, we have Halloween at school and I got to be there because I could determine my schedule.

Had I continue to work in my corporate job as Business Development/ Structural Engineer, I wouldn't be able to be there for my son. To watch him thrive and to celebrate how far he's come.

Every day, I take him to school at 9am and my life starts right after drop-off. I learnt to work very efficiently, making sure I take care of my clients' needs as well as marketing and growing my business. Time is very precious between those hours and work stops at 2pm when I pick him up at school. From 2:30pm until 6:30pm, our household is very busy; making sure we practise some writing, some reading and preparing for his dinner by 5pm.

I put my son to bed by 8pm and my 2nd half of my day begins at 8:30pm.

Being a mom definitely has challenges and sometimes it feels like trying to jump through hoops. But watching my son grow in every phase of his life is definitely something I want to be a big part of.

Being a realtor(R) gives me the opportunity to do that, as well as taking care of my clients' needs and I take growing my business as an awesome challenge to see how far I could go!

I just love what I do. Can you feel that?

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Bowen Family Homes did not honor its contract & did not live up to their part of the bargain

Tue, 27 Oct 2009 20:07:26 -0500

It is with a heavy heart that I write this post. We have tried everything we could to gain their attention, but every single time, it falls on deaf ears. Including going up to the top of the food chain. This post is a complaint about my clients' home buying experience with Bowen Family Homes.

Back on May 15 2009, my clients close on both their homes: the sale of their former home and the purchase of the home they reside in now. 30 days prior to that, my clients wrote a contract to purchase a Bowen Family Home in Prosper TX. In their contract, Bowen agreed to add some additional items to the list as part of the sale. During the final walk-through, more items were added. All of these items were supposed to be completed prior to closing.

It is 165 days later that by Bowen Family Homes did not honor their part of the contract.

During these 165 days, my clients made numerous attempts to get them to perform on their contract. Phone calls to the builder who was suppose to oversee this list completed always get pushed back. Next week, next week. But next week never came. Phone calls to the higher up that oversee the Texas division of the Bowen Family Homes always get pushed to this "builder". By then, it falls on deaf ears again. My clients have made several connection with the entire Bowen company - from their corporate office in Georgia to Texas and right down to the builder. Phone calls, certified mails, emails, etc. All lead to No progress.

Today, October 27 2009, my clients filed a complaint with the Better Business Bureau.

We closed on the property on Friday (May 15) with the expectation that Bowen will fulfill their responsibilities the following Monday (May 18) as agreed with the Builder. Looks like it's still not May 18 yet on the Bowen's calendar.

Here's the painful lession my clients learnt: Do not close on the house until all the repair items promised to be fixed will be taken care of. In hind sight, we feel that should have happened, but in the end, this is where we are at.

My clients recently added a new addition to their family. Instead of completely enjoying their new home with their children, their days are spent trying to resolve this issue with a company that will not take responsibility to what they agree to. They also know that the value of the repairs are not substantial enough to hire a real estate attorney to fight this for them. It is with their permission that I tell this story so that others do not fall into the same pitfall like they did.

So, the next time you want to buy a new home, do make sure you have all the repair items completed to your satisfaction prior to closing.

Bowen Family Homes did not take responsibility to performing to their side of the contract. They were paid and went on the merry way. During the sale, they made it very clear to my clients, that all warranty issues and contract to-dos will be handled professionally. Now, they will receive this BAD report from my clients and I. Think twice about doing business with companies that cannot will not take personal accountability with the utmost respect.

Please share your thoughts. I really want Bowen to start holding some personal accountability. Please help my clients so they can help put this behind them.

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Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Putting Your Life on Hold During Home Search

Tue, 27 Oct 2009 08:10:39 -0500

This statement may seem far fetch - putting the rest of your life on hold while you search for your home, but for those I have seen experienced, when they put their home search first priority above all else for a short period of time has always been the most successful and the least disappointed.

I know you have soccer practices to run to, you have social parties you have to attend, and you might have a meeting that has to be cut short, but if you are like most buyers in today's market, you want a good deal for your home. No one wants to pay more than they have to. Most good deals - move-in ready condition with great price do not stay on the market very long no matter the price range.

Put home buying a super high priority in your life. Be ready to write a good contract when you see one. Get your supporting documents ready for your lender. You might temporarily suspend your social life. Put home search very high on the list. I promise that you will not be disappointed with the outcome.

You are going to live in the house for a few years. Some early sacrifices and a small change in lifestyle are ways I see "investing" in the home that house your happy family. During this stressful period, making your home search a high priority will be worth while.

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Some Bold, Some Quiet But All Equally Valued

Sun, 25 Oct 2009 00:06:15 -0500

These days, I'm really starting to get to know myself better. These 32/33 years formed the person that I am. Some good qualities and then some, not so good. What I realized with the not-so-good are sometimes "excuses" or better yet, "stories" I have created to make believe is true for me.

Being the perfectionist that I am, I easily find flaws in myself. My upbringing taught me to always do better where I'm at, no matter how good I am. There's always room for improvement. What I heard was I'm never good enough.... Funny how one person says one thing, it gets translated, or worse yet, twisted in weird ways that last for years. With that thought, Always Room For Improvement, I strive to reach for "perfection" all my life.

As I get to know some of my friends here in the 'Rain, I became envious, wished I had qualities they carry so eloquently. For the longest time, I wish I was the People Magnet. But where would you find me? In the kitchen, helping clean up because I feel I'm never smart enough, bold enough to attract people.

In so many ways, I've enjoyed being the actual worker bee of the group. The silent one that holds things together yet never enough to take the credit for it. Yup, that's where I find significance in my life and in my work.

Being in the sales world, I doomed myself for mediocrity. Perhaps I've wrote myself off as Never good enough to immerse myself with the success I see others have. But I just keep putting forward my best foot forward each day to serve one client at a time with the best I've got from within me. Never too afraid for not claiming the best from within.

Slowly, I'm finding my voice and my place in the real estate world. More so here in the 'Rain. I've come to see value in the bold and the quiet. The biggest thing I've found is:

If we let our light shine, we unconsciously give others the permission to do the same. As we liberated from our own fear, our presence automatically liberates others. Although I never want to admit and it took one real person who had the guts to tell it in my face, my biggest fear is not that I'm inadequate. My biggest fear is that I'm successful beyond measure in my quiet ways.

Thank you, God for telling me that I am your masterpiece. As I view my sweet boy as he sleeps tonight, although with the meltdowns and tantrums I endure today, I still love him from the bottom of my heart, from the tiniest strand in my hair and in every inch of my body. Still perfect in my eyes. I can't imagine how much more God smiles and yearns to look at me when I sleep.

When you don't view yourself as God's masterpiece, it hurts HIM more than it hurts you. When you feel you've let Him down, know that you've never let Him hold you up. Don't compare yourself to others. God never makes anything in vain. He has a plan to make you His Original Masterpiece.

Some bold. Some quiet. But all equally valued.

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Frisco TX 3rd Quarter 2009 Housing Market Report

Sat, 24 Oct 2009 22:32:10 -0500

Frisco TX reported 173 homes sold in September 2009. These numbers include single-family homes, condos, duplexes and townhomes. That makes Frisco TX sold a total of 621 homes in the 3rd Quarter, making it a total of 1,657 homes thus far for 2009.

January: 101 Frisco TX homes SOLD
February: 160 Frisco TX homes SOLD
March: 186 Frisco TX homes SOLD
April: 192 Frisco TX homes SOLD
May: 181 Frisco TX homes SOLD
June: 216 Frisco TX homes SOLD
July: 242 Frisco TX homes SOLD
August: 206 Frisco TX homes SOLD

3rd Quarter 2009 (July 1 - September 30):
181 Frisco TX sold homes
for $50,308,155

The lowest priced home sold for $116,500 (2-bedroom, 2-bathroom property, 1,472 square feet) in Stonebrook Frisco. It took 35 days to sell this house.

The most expensive priced home sold for $1.5 million (6-bedroom, 8 bathrooms, almost 8,500 square feet) at Stonebriar Country Club Frisco. It is an exquisite Mediterranean custom home built by Parthenon Home Builder based in Frisco TX. This home is under construction when it sold.

The average home in Frisco Texas is 4-bedroom, 3 bathrooms, just over 3,000 square feet and sold for $277,946 in 74 days on the market.

I think it's important to study the days on market for the homes sold. As a buyer, you will understand the "limits" of your negotiation power in general and as a seller, it is important to know the pricing correctly gives you the greatest chance to sell your home.

These numbers were generated from the Local MLS NTREIS board for September 2009:

	0-30 Days	31-60 Days	61-90 Days	91-120 Days	120+ Days
No. of Listings	49	49	31	16	36
Breakdown %	27.07	27.07	17.13	8.84	19.89
Avg SP % LP	97.34	96.03	95.67	96.16	96.16

When compared to last year, Frisco TX sold 653 homes in the same period in 2008. The sales number are down 5% for 3rd Quarter comparisons. In 2008, 1,884 Frisco TX homes sold from January through September. The numbers are down 12% to date.

	Average Price per Square Feet	Average Days on Market
January	$87	87
February	$88	108
March	$87	96
April	$92	86
May	$91	78
June	$91	80
July	$91	78
August	$93	84
September	$89	74

Real Estate Commentaries based on the above market data:

The average price per square feet sold are lower in the less busy months and peak in August as our normal Frisco TX real estate trends indicate.

Currently, Frisco TX has 949 homes available for sale. The lowest priced property is a townhome off Hickory Street, priced at $47,700 (a 2-bedroom and 1 1/2 bathrooms). The most expensive home is a custom built home by Chapman Builders at Villages of Stonebriar Park for $5.4 Million (over 10,000 square feet). 245 homes are under contract.

The absorption rate (ie time it takes for all the current inventory to sell in its current rate) is approximately 23 weeks (almost 6 months). This means if there are no additional inventory that comes on the market, it takes approximately 23 weeks or 6 months to sell all of its current inventory.

Also, there is a possibility that you may be receiving differing numbers you found here and another site. Note that Frisco as recorded by the local MLS is tracked by Frisco school district (MLS 55). However, the information MLS 55 may include Plano and Little Elm. That is most likely the difference. The information within Frisco is deemed correct for single-family homes, condos, duplexes and townhomes.

Read comprehensive August 2009 Frisco TX Homes Market Report.
Read comprehensive July 2009 Frisco TX Homes Market Report.
Read comprehensive June 2009 Frisco TX Homes Market Report.
Read comprehensive May 2009 Frisco TX Homes Market Report.
Read comprehensive April 2009 Frisco TX Homes Market Report.
Read detailed 1st Quarter Frisco TX homes market report at 1st Quarter 2009 Frisco TX Homes Market Report.

View new Frisco TX homes now:

Search For Your Frisco TX Home now

Create a profile to receive property alerts, save searches and track your dream home as it comes on the market. Click on Get Listing Updates at the right corner above the map.

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All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Stories from my Frisco TX home front...

Should You For Sale By Owner?

Remember, the sale of your home is just an obstacle to stop you from going where you want to go. Where you want to go is really the result you desire.

Perfecting Your Inventory Knowledge in Your Neighborhoods

Life could crumble if you are too good at something. They said Balance is Everything.

Fabulous, Barely Lived In Home at Grayhawk Estates Frisco TX

Heroes Come in ALL Shapes, Forms & Sizes. Yes, Realtors too!

Short Sale Seller Myths Debunked

Implied Agency, Procuring Cause and An Important Home Buyer's Education

Forget that Outta Box Creative Thinking, How About As Simple As Answering That Phone Call?

Home Buyer Tax Credit Questions & Answers

First Time Home Buyer & Repeat Buyer Tax Credit QUESTIONS & ANSWERS Explained

Train up a child in the way he must go

First Time Home Buyers Go Through a Stressful Time: Be Empathizing

Real Estate Business is NOT for Broke People

First Time Home Buyer Tax Credit Extended and Expanded to include Repeat Buyers

Short Sale Done ABSOLUTELY Wrong

Master Your Barrier to Entry in the World of Success with Blogging

Why Blog? Why Write?

How to Be a Better Lender to Your Realtor(R)

Homeownership is a Privilege

Renting Feels Like It's Borrowing

Be Blessed Where You're At

Fabulous Fall Colors 2009 of Frisco TX

Being a Mom lets me be a Realtor(R) too!

Bowen Family Homes did not honor its contract & did not live up to their part of the bargain

It is 165 days later that by Bowen Family Homes did not honor their part of the contract.

Putting Your Life on Hold During Home Search

Some Bold, Some Quiet But All Equally Valued

Frisco TX 3rd Quarter 2009 Housing Market Report

3rd Quarter 2009 (July 1 - September 30): 181 Frisco TX sold homes for $50,308,155

First Time Home Buyer & Repeat Buyer Tax Credit
QUESTIONS & ANSWERS Explained

3rd Quarter 2009 (July 1 - September 30):
181 Frisco TX sold homes
for $50,308,155