I have seen more and more foreclosures come on to the market in the last six months or so. I have also been approached by banks to do BPO's for properties about to foreclose and am now putting those listing into MLS. I get a lot of buyers that think that any foreclosure is a bargain. Sometimes buyers don't realize up front just how much money and time it will take to get a house in the shape it will need to be in to be livable for them or to be used as an investment property. It is the Realtors job to walk them through this process and point out what value the property really holds. When purchasing a foreclosed property your best bet is still a real estate agent. Buyers need to be honest and upfront about their plans. Realtors specialize in knowing about the market and the homes in their market area. Many people would be surprised that their local Realtor may know of several properties that are about to go on the market as foreclosures. A good agent will guide you carefully though the process of making your bid on a property. Foreclosed properties may come on the market through HUD, VA, Freddie MAC or banks. This is definitely a "buyers market" and there are many good deals out there to be found, just don't rule out the listing that is in perfect shape and has already reduced their price a few times. You may find as good a deal and evern better of a deal than that foreclosed property.

Beautiful new 5 bedroom with 4 full baths and 2 half baths. Master bedroom is downstairs. 5 living areas including a den, formal living room, library, gameroom and media room. 2 dining areas. 3 car garage. Lots of granite and stone finishes, beautiful moldings and wet bar. Home is 5250 square feet. Big corner lot is located in a masterplanned community in the city of Allen coined for its beautiful tree-lined creeks. You can come home to a championship golf course, 2 Jr.-Olympic pools, basketball courts, sand-court volleyball and hike and bike trails or simply relax in the comfort of this beautiful home.

 

Thursday was another dark day for the stock markets. Things are likely to get worse as the spreading credit crisis encompasses markets all around the world. Thursday was one of the year's worst days on Wall Street. The Dow average suffered its second worst session of the year.  Overseas investors followed, dumping stocks even as central banks attempted to calm fears. Asian markets sank overnight. European shares plunged, erasing their 2007 gains.

The latest bout of turmoil comes amid growing signs that problems in the U.S. mortgage sector are spreading overseas. A major French bank was freezing withdrawals from three of its top funds because a drop of liquidity made it impossible for it to value their assets.

In America, Countrywide Financial, the nation's leading U.S. mortgage lender said in a Securities and Exchange Commission filing late Thursday that extremely poor conditions in the secondary mortgage market are causing it to retain a greater proportion of mortgage loans than it sells. Countrywide Financial shares tumbled 16 percent in pre-market trading on the news. Some of the big lenders such as Wells Fargo raised their rates to 8 per cent.

Stocks have been selling off globally, despite an injection of liquidity by central banks around the world. Other central banks, including the Federal Reserve, Bank of Japan and Bank of Canada, have also intervened in their respective markets, although on a lesser scale. The Fed pumped about $24 billion into cash markets Thursday.

Let us hope for a speedy recovery of the markets. The market has always recovered over time. Hopefully we won't have to wait very long. This buyers market could get much worse before it gets better.

The Dallas-Ft. Worth metro area housing market is still in somewhat of a slump, compared to previous years. I hate to have listings that are getting good activity, past on and buyers picking another home when the sellers could spend one weekend cleaning up and staging their home to stand out. Many of the things sellers could do don't take a lot of time, effort or money. It is so hard to get some sellers to understand that a little sprucing up and de-cluttering could make the difference in a buyer making an offer to them instead of the house down the street. Of course "curb appeal" can get them in the door, but the total package is what will bring the offers. I tell buyers that location can't be changed but the appearance of their home can. I also have an extensive staging kit that I use in vacant homes. It' amazing how a few simple and tasteful accessories can make such a difference in the feel of a home. Candy Hudson - Century 21 Larry Watson Realtors - 972-979-2205 -www.candyhudson.com

Rare find!! 3 bedrooms 2 baths and 2 car garage, den with floor to ceiling brick wood burning fireplace and big gameroom. Beautiful inground pool. Home sits on a big corner lot. This spacious home has been tastefully updated throughout with laminate wood floors, carpet and paint. Gameroom is large enough for a pool table. Nice covered patio. Call Candy for more details or showing. 972-979-2205. www.candyhudson.com

Today was a very good day because I was able to close the first deal with my son, Daniel. Daniel has only be licensed for about 6 months and I sold one of his listings and it closed today!! He was able to sell his client a new home that also closed today. I am so proud of Daniel, He has worked so hard. He has closed a few others but this was the first with Mom. I am going to take him and his family out to dinner tonight to celebrate. I hope Daniel and I have many more "good days" like this. Even if we don't it is just a pleasure to have such a good son. Candy Hudson www.candyhudson.com