It happens each year around this time, both Residents and Non-Residents come out and support our community parade. The parade route will begin at Pizza Hut Park and head Eastbound down Main Street through Downtown Frisco. The parade starts at 11:00 am, but don't get there at 10:45 or else you don't get good seats. Streets between World Cup Way and Dogwood Street will be closed between 9:30 am and 1:30 to allow residence to set up and to prepare for the parade itself.
Here are some great photos from 2008 ** Please note that these are not my photos **:
If you live in the state of Texas and are looking for a reliable Mortgage Professional to assist you with the loan product that best fits your financial situation, give me a call. We do not charge upfront fees to run scenarios or charge unnecessary application fees.
Do you want to know all of your options? Call me today and let's discuss them further.
Always available for your Frisco Texas Mortgage needs!
I personally have not done a post about the enhanced/extended Home Buyer Tax Credit, but Gary W. put together a good list of FAQs that I thought I'd share.
Much has been written on the extension of the first time homebuyer tax credit and the credit for existing homeowners. A few frequently asked questions with answers to go along with all of that:
Question: Existing homeowner credit: Must the new house cost more than the old house?
Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit.
Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?
Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.
Question: I am a first time homebuyer but was not within the prior income limits at the time I entered into my contract to purchase on October 30, 2009. I will be covered, however, by the new income limits. If the new rules have been signed into law by the time I go to settlement, will I be eligible for a credit?
Answer: Yes. The new income limitations go into effect as soon as the President has signed the bill.
The income limit and other eligibility rules will look to your status as of the date of purchase,
which is the settlement date. So if the new rules have been signed when you go to settlement,
you should be eligible for the credit (or a portion of the credit if you're within the phase-out
range).
Question: I am an eligible existing homeowner. I have a fair amount of equity in my home. I have found a home with a non-negotiable price of $825,000. Will I be able to use any of the $6500 tax credit?
Answer: No. The $800,000 cap on the cost of the purchased home is firm at $800,000. Any amount
above $800,000 makes the home ineligible for any portion of the credit. The $800,000 is an
absolute ceiling.
Question: I owned my home for 10 years, but sold it two years ago year and have been renting since. If I purchase a home, will I be eligible for the $6500 tax credit if I meet all the other eligibility tests?
Answer: Yes. Because you lived in the home for more than 5 consecutive years of the previous 8, you
will qualify for the $6500 credit. For example, Say John and his wife bought a home in 2000
and lived there until 2008 when he got a divorce. Whether John has been renting or bought in
the interim, he WOULD INDEED be eligible for the credit because he owned a home and
occupied it as his principal residence for 5 consecutive years out of the last 8 years. The
keyword here is "consecutive." As long as he lived in that house for 5 years straight what he
did since 3 years doesn't impact eligibility.
Question: I am an eligible first-time homebuyer. I entered into a contract to purchase on November 1, 2009. Do I have to go to closing before December 1? How does the extension date affect me?
Answer: You do not have to close before December 1. Once the legislation has been signed, it will be as
if the Nov 30 date had never existed. Therefore, so long as the contract settles before April 30
(or July 1, worst case), the purchaser will be eligible for the credit.
It's time for Chunk Your Junk in Frisco Texas, this Saturday November 7th from 8 am to 12 pm.
Do you have things at your home that you just can't throw away? Once a month you have an opportunity to Chunk Your Junk. This includes appliances, chemicals, fencing, yard waste, and much more. For a more detailed list of what is allowable, go to their website.
To Chunk Your Junk in Frisco Texas, go to 6616 Walnut Street between 8:00 am and 12:00 pm. Don't forget to bring your Driver's License and a current water bill.
If you are unable to make it to Chunk Your Junk, you can call Texas Waste Management and see what is allowable in your weekly trash. They can also schedule a one time pick up of certain items. Last year, we got rid of a 52 inch television and a mini fridge.
How Much Money Do You Need to Buy a Home in Texas? First and foremost, you should not just focus on the down payment, although that's not a bad place to start. When you contact a Mortgage Consultant, they will typically walk you through a few scenarios and help you determine which type of loan is best for your financial situation.
When buying a home, you need to consider the following cash factors:
Down payment - min. 3.5% FHA or min 5% Conventional of the purchase price
Earnest money -usually requested by the seller, but overall will be deducted as part of the transaction
Hazard Insurance - typically, insurance companies require the first year to be paid upfront
Closing Costs & Pre-paid Expenses - Displayed on the Good Faith Estimate which is provided by a Mortgage Consultant.
Lender Costs
Title Costs
Pre-paid items - 2 to 3 months worth of hazard insurance/tax reserves
Mortgage Insurance Premium - Can be financed into the loan
Can negotiate with the seller to pay for some/all of the closing costs (speak with your Real Estate Agent)
Reserves - 2 to 3 months worth of cash reserves, after all costs above are paid.
As you can see, there are many factors to consider when buying a home in Texas. The exact amount needed to close can fluctuate depending on the loan amount, property taxes, and hazard insurance plan. For an accurate breakdown of what fees to expect, contact your local Mortgage Consultant.
These items should be determined before you make an offer on a home. Part of your offer will include the request for the seller to pay for some of the closing costs. Without knowing the closing costs, it makes it harder to request the exact amount (although it can be done).
Have you hired a Real Estate Agent? Watch for my upcoming post which will help you narrow down your search for a Real Estate Agent in your area. If you are in the market and need a few suggestions, feel free to contact me directly as I can assist you with finding a Real Estate Agent anywhere in the state of Texas.
If you live in the state of Texas and are looking for a reliable Mortgage Professional to assist you with the loan product that best fits your financial situation, give me a call. We do not charge upfront fees to run scenarios or charge unnecessary application fees.
Do you want to know all of your options? Call me today and let's discuss them further.
Always available for your Frisco Texas Mortgage needs!
Should your life stop just because you're buying a home? Truthfully, you never know what affect actions you take today will have on the mortgage you apply for. Even if you don't plan on refinancing or purchasing for another three to six months from now.
Something as simple as transferring money from your savings to your checking account can create hassles in the mortgage process. I know it may seem a bit much, but lenders are paying closer attention to mortgage transactions today. Sure, the transfer of money seems simple enough.. and maybe it is. But when lenders see a large sum of money transferred into an account, they want a paper trail to know where the money came from and be sure that all accounts balance.
There are at least six things that should be avoided when purchasing a home or refinancing your existing mortgage. Even if you are already 'pre-approved', you should wait until the loan has closed.
Buying, Leasing, or Refinancing a Car - Many people are inclined to 'improve their social standing' by purchasing a car and buying a home at the same time (yes, this includes leasing a vehicle). There's nothing wrong with the concept itself, but buying the car before buying a home can affect what the lender determines you can afford for a home. Since a car is such a big ticket item, it can greatly raise your debt-to-income ratio, which lenders use to determine the amount of home you can afford. Ultimately, it will affect how much home you can purchase. Refinancing your automobile can affect your credit scores. Even though you are probably lowering your payments, the refinanced loan is considered new debt when calculating your credit score.
Becoming Self-Employed or changing jobs - Either of these could have a negative impact on your loan application and overall approval. In most cases, lenders want to see at least 2 years of self-employment. Keep in mind that this means 2 years worth of tax returns, which really means you probably have to be self-employed for more than 2 years in order to provide a full 2 years worth of returns. ** also, income is determined based on the 'Adjusted Gross Income' (after your deductions) ** Wait until after buying a home to become self-employed.
Changing jobs to a 'sales' environment is also risky while you are considering a home purchase. Even though the position you accept is not considered 'self-employment' is it still sales based. If you were receiving a salary prior to your new 'sales' job then you will need to show 2 years worth of sales income. Being in a sales position has similar considerations as being self-employed.
Moving Money Between Accounts - I mentioned this in an example above. When a lenders underwrites your loan to determine your eligibility, they will request complete statements (yes, even the blank pages) from your accounts that contain liquid assets. When you move money around between these accounts, especially if they are large amounts, you will have withdrawals in some and deposits in others. The lender will want to see documentation for these transactions. Most people do not keep all of this paperwork, so it's much easier to leave the money in the accounts until after you have purchased or refinanced your home.
Change Banks - This pretty much ranks up there with 'moving money'. It just creates additional paperwork for you and the lender. The more paperwork, the more likely issues could arise for your home purchase. Not only could there be questions/concerns from the lender, but it could cause unnecessary delays in closing your loan. Stay with your current bank until the mortgage process is complete.
Make a Large Purchase - A large purchase is not just about a car or boat. Now that you are moving into a bigger place, you will probably want to fill it with furniture... and that 'One Year Same As Cash' deal sounds really tempting. Resist the urge to purchase that new sofa set until after you have obtained the mortgage. Again, this is for two reasons. First, it could affect your credit scores and debt-to-income ratios. Secondly, remember that you are not done buying a home until the loan closes. There are no guarantees until that happens. Unfortunately, there are a number of things that could happen which results in a declined loan application. Contact your local mortgage professional to help you avoid any costly mistakes.
Apply For a Credit Card - Although this is the last item I mentioned, this is equally as important. The new credit card won't hurt your credit score too badly if you already have good credit, but it will cause the to question your financial stability for buying a home. For the time being, don't apply for no interest credit cards or department stores. After you are settled into your new home, there will be plenty of time for shopping.
In summary, when you are buying a home or refinancing your current mortgage, it is best to stay away from anything that will look as though you don't have your finances under control. The items above are just a few examples that could cause such a determination.
If you live in the state of Texas and are looking for a reliable Mortgage Professional to assist you with the loan product that best fits your financial situation, give me a call. We do not charge upfront fees to run scenarios or charge unnecessary application fees.
Do you want to know all of your options? Call me today and let's discuss them further.
Always available for your Frisco Texas Mortgage needs!
This is my first 'Foto Friday'. I've thought about sharing pictures before and thought today would be a good day. I needed a little 'Pick Me Up" today and pictures of family and friends seem to always do the trick.
I'll warn you that these photos are not as good as the ones taken from Paul Henderson or Michael Thornton (If you love photo's and do not subscribe to them, I strongly urge you to). But they are moments in my life over the past 2 years or so that I've been able to capture on my iPhone. The iPhone takes pretty good photos in comparison to my previous phones, and I can easily upload them to my computer at the end of the day.
These are my wacky kids... Okay.. the blonde headed kid is not mine, but I'm pretty sure he is over my house more than his own, so we claim him on taxes (I'm kidding if anyone from the IRS is looking at this post).
My wife can be pretty goofy herself. This is Andrea wearing some Mickey Mouse ears. Yes, these are her Mickey Mouse Ears. She has a few pairs. On these, the ears light up.
Plus you can never go wrong when you stumble upon an amazing view or photo opportunity..
This is fireworks at the Hollywood Bowl in California. We took the kids there on our family vacation this summer. My wife and I have enjoyed the Hollywood Bowl for years.
Well, thats just a small venture into my iPhone. I have about 190+ photo's in there. Far too many to share in one night, but each of them hold some great fun and memories.
On Saturday, October 24th, 2009, Windsor Place HOA in Frisco Texas will be hosting a Fall Festival Party.
The festival will be held in the Pavilion at Newman Park, located on the corner of Angel Falls and Twin Falls. Party starts at 3 pm until 5 pm. Don’t be late or you may miss some of the activities.
-Kids Costume Contest (parents and pets are also welcome to dress)
-Fall Photos
-Goodie Bags
FOOD WILL BE PROVIDED! That’s right. Windsor Place HOA has hired Mooyah Burgers to cater our family fun event.
So, bring your kids, your smiles, and plan on having some good food and lots of fun!
**** Quick Update ****
We held the Fall Festival today and we had approx 30 homeowners show up, out of 182 homes. Probably the biggest showing we had were from the kids in the neighborhood. I'm sure that was due to the delicious burgers though. The contest consisted of many babies. My wife took pictures, so I'll share them once available.
Always available for your Frisco Texas Mortgage needs!
This post was featured and has been reblogged a few times already, but I wanted to share it with you. If you have a fireplace and use them during the winter, this is a good post to read about the safety (or lack there of) of your fireplace.
With old man winter just beginning to clear his throat with the first cool snaps of the winter season, many Americans begin firing up their fireplaces. But before you start enjoying the ambiance of the warm embers glow with the blanket, a bottle of bubbly and your sweetie, is your fireplace really safe from the hidden dangers that most folks do not even know about?
Statistically, over 1/3rd of Americans use solid fuel (wood) as their primary source of heat. Most of these are in rural areas. Statistics also show that 36% of residential home fires start in the fireplace or wood burning stove.
When was the last time you:
Had your chimney or flue evaluated by a licensed chimney sweep? Most residential fires are caused by creosote build-up and flue fires.
Checked the air inlets? Some modern fireplaces draw air from the exterior. Insects find these protected areas a cool spot to build their nests. Blocked inlets can cause poor combustion and CO to build up.
When was the last time you checked to see if tree branches were hanging over the flue?
When was the last time you checked the batteries in your smoke detector? Statistics show that most deaths could have been prevented. Missing/dead batteries was the number one cause.
Be safe.
Do not use incendiaries to start a fire. Flammable liquids are unsafe.
Use only seasoned hardwoods. Soft, green wood causes creosote to build up in flues and liners.
Keep firewood away from your home. We do not want to bring in WDO's do we?
Build smaller fires. These burn better and produce less smoke.
Okay Texas Readers... I was going to do a post on Fright Fest at Six Flags, but our local Dallas Realtor Steve Shatsky has put one together already. Are you dressed and ready to have fun? Well, get started. Between the Texas State Fair and Fright Fest at Six Flags, you should be quite busy.
Now through November 1, 2009, it will be "Thrills by Day, Chills by Night" at Six Flags Over Texas in Arlington as Snickers® presents Fright Fest 2009.
The event will transform Six Flags into a Halloween Extravaganza with special Halloween themed shows, street entertainment, and hair raising haunted houses. The haunted houses are my favorite! And don't forget that admission still includes access to all the park's rides... in the dark!
If you are in the Dallas/Fort Worth metroplex and are looking for a REALTOR® to help make the home buying or selling process easier and more friendly, call me today at (469)449-9840 to schedule a consultation. Or visit my website at EasyTexasRealEstate.com. I'd be happy to help you move forward and achieve your Real Estate dreams and goals. Not located in the D/FW area? Contact me anyway... I'd be happy to refer you to a real estate professional in your area who can help you.
A few weeks back, I wrote about my son becoming a member of the Cowboys,as part of the Frisco Football League. They have had three games so far and they get better each week. So, why I am telling you this? Well, tonight I am sitting at the computer and putting together some music for the game tomorrow. I did the same thing about 2 weeks ago. See, I am the game announcer during the home games only. During that time I get to announce the players and the plays, but I also put together some warm-up music before the game and play music during timeouts and half-time.
2 weeks ago, I went through my entire list of music and was still looking for more. I then decided to send a message on twitter, facebook, and myspace for some ideas. To my surprise I received a TON of suggestions of good football songs. Songs that add some excitement to downtime during the game. Don't misunderstand... I'm not trying to be a DJ but I do like to have fun.
So, whenever you are in a bind, know that you have thousands of social media friends that are willing to help out. I utilize these friends often. See, social media/networking is not just about you sharing a link to your website. Sometimes its about sharing other knowledge and experiences... and other times its about asking for advice or suggestions.
Alright, back to putting additional music on the list. Wish us luck against the Chargers tomorrow and watch for some updates on Twitter @JCannata.
Always available for your Frisco Texas Mortgage needs!
As a Loan Officer, it is my job to remove the stress out of buying a home and/or refinancing your current mortgage. I do this by providing ongoing updates, being available for questions, and ultimately delivering 'as promised' with not surprises. My goal is to become your consultant for life and for you to rely on me to assist your family and friends as well.
I work closely with local real estate agents by helping increase their business. I approach this in two ways. The first way is to review the agents current marketing plan to identify areas where enhancements can be made to generate higher quality leads. The second part is focused on the service to the client both during and especially AFTER the sale.
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
It's time for Chunk Your Junk in Frisco Texas, this Saturday November 7th from 8 am to 12 pm.
Becoming Self-Employed or changing jobs - Either of these could have a negative impact on your loan application and overall approval. In most cases, lenders want to see at least 2 years of self-employment. Keep in mind that this means 2 years worth of tax returns, which really means you probably have to be self-employed for more than 2 years in order to provide a full 2 years worth of returns. ** also, income is determined based on the 'Adjusted Gross Income' (after your deductions) ** Wait until after buying a home to become self-employed.
Make a Large Purchase - A large purchase is not just about a car or boat. Now that you are moving into a bigger place, you will probably want to fill it with furniture... and that 'One Year Same As Cash'
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