frisco real estate: Texas Foreclosure Activity Up in Third Quarter
- 11/06/10 10:41 AM
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 34,187 Texas properties during the third quarter, a 4 percent increase from the previous quarter and up 15 percent from the third quarter of 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.
For September, Texas reported 12,769 properties with foreclosure filings, an 11 percent decrease from the previous month and 3 percent below the level reported for the same month last year. One in every 752 Texas housing units received a foreclosure filing in September, the 29th highest foreclosure rate among the … (0 comments)
frisco real estate: Record Low Interest Rates
- 11/05/10 04:33 AM
The last time borrowers could get rates this low, every television was black and white and Americans liked Ike. Thirty-year fixed mortgages slipped to 4.27 percent last week, the lowest on records dating back to 1971, from 4.32 percent last week. A drop in interest on 15-year loans to 3.72 percent from 3.75 percent, meanwhile, was the lowest on records dating back to 1991. Freddie Mac also reported that the five-year adjustable-rate mortgage fell to 3.47 percent from 3.52 percent last week, and the one-year ARM dropped to 3.40 percent this week from 3.48 percent.
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frisco real estate: Housing Activity for North Texas
- 11/01/10 03:58 AM
NTREIS MLS Area Housing Activity ReportCompiled for North Texas Real Estate Information System Current Month Summary for: September 2010 <!-- Insert Report Table Above here -->
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frisco real estate: New Home Builders are SLASHING Prices!
- 10/29/10 03:53 AM
New Home Builders are cutting prices in communities across the Dallas Metroplex! New planned communities in Collin County just North of Hwy 121 and in the Allen School District have several builders that are offering many incentives to homebuyers that close before November 30th. One homebuilder in the much desired Allen School District is offering unbelievable pricing on two remaining completed homes. McKinney has an abundance of new home builders from almost every price point and the incentives to buy before the end of the year are incredible! One closeout community in the Southwest corner of McKinney is offering Closing Cost up … (0 comments)
frisco real estate: Information about putting your home on the Market!
- 10/28/10 10:12 AM
Many sellers don’t realize just how important the first few weeks their home in on the market can be. The first impression of their home to potential buyers and Realtors representing those buyers must be a positive one! Why is this time so essential? Realtors who are working with buyers don’t have the time to remember all the inventory on the market, and as new homes are listed they will get more attention than homes that have been on the market awhile and are at the point of dropping their prices, unless the prices are being dropped so low … (0 comments)
frisco real estate: Texas Unemployment Rate Drops to 8.1% in September 2010
- 10/26/10 10:51 AM
The unemployment rate for the state of Texas dropped from 8.3% to 8.1% in September of 2010 according to the Texas Comptroller’s Office. Since January of 2010, the unemployment rate has been at least 8% in Texas. The last reported unemployment figure for Dallas Fort Worth was 8.4% in August. The good news is that both DFW and Texas continue to outperform the United States in employment. The unemployment rate for the United States remained unchanged at 9.6% in September. Some other good news from the comptroller’s report: JOBS: Texas non farm employment increased by 3.700 jobs in September. Since last September, … (0 comments)
frisco real estate: Make sure you’re represented at Closing.
- 10/25/10 06:44 AM
The climate of the real estate industry is changing. In the old days, less than 20 years ago, all real estate agents worked for the seller, and even agents working with the buyers did so in the seller's best interest. But things have changed. New laws and regulations are in place so that today, buyers can work with any Realtor of their choice and pay for their own representative via the transaction proceeds. Yet, many fail to take advantage of having their own representative help them through the arduous home buying process. According to the National Association of REALTORS (NAR,) four out of … (3 comments)
frisco real estate: BEWARE of buying new credit history - SCAM ALERT...
- 10/20/10 01:46 PM
Summary: A relatively common scam is when a so-called credit repair company claims it can give you brand new credit and wipe your credit history clean. Falling for this scam can do tremendous long-term damage to yourself and your credit. Getting a new social security number to clear your creditis not possible. Q: A friend of mine heard you on the radio talking about how companies can change your Social Security Number and fix your credit. Can you explain this to me in detail? A: I was talking about a relatively common scam in which a so-called credit repair company claims it can give you brand new credit, … (1 comments)
frisco real estate: What is a Short Sale?
- 10/19/10 03:14 AM
A Short sale is the sale of a property by a financially insolvent homeowner who is facing foreclosure for less than the value of the outstanding loan. If a homeowner is interested in pursuing a short sale with their lender they will need to have the lender's consent and approval. · The lender accepts the sale as payment in full for the loan. · The property owner escapes foreclosure, but receives no funds from the sale · There can be no equity in the property · Seller cannot bring money to the closing. • Lender does not report foreclosure to … (1 comments)
frisco real estate: What credit score should a couple have before purchasing a home?
- 10/15/10 11:57 AM
It depends on what type of loan you are looking for, and how much money you have. Each applicant has scores from 3 different credit bureaus, Equifax, Transunion, and Experian. Lenders are not looking for the average score. They take the score that is numerically in the middle of the 2 others for each applicant, and use the lower of those 2. So, let's say you have a 712, a 650, and a 627, your middle score is 650. If your spouse or partner has a 712, a 710, and a 627, their middle score would be a 710. Your score … (0 comments)
frisco real estate: What type of Data is used for a Comparative Market Analysis?
- 10/14/10 09:24 AM
In an ideal situation, a Comparative Market Analysis should reflect sales of similar properties that have closed within 90 days within a small geographic area around the property. (In a subdivision, it'd be other homes in the subdivision. In a rural area, it might take properties up to 5 miles away. But usually, it's within a quarter mile.) When running a CMA on Plano Homes for purchase or to sell, it is best to try and only use comparable's in that exact Plano neighborhood. The main data used should be #bedrooms, sqft, 1 or 2 story home, #garage spaces, year built, … (0 comments)
frisco real estate: Dallas Real Estate Outlook: Pending Sales Rise
- 10/12/10 11:16 AM
The recent recession and slow recovery has wreaked havoc on businesses and households throughout Dallas TX, alike. But there is progress being made in North Texas. Pending sales increased for the second consecutive month, according to the National Association of Realtors and their latest Pending Home Sales Index. Pending sales rose 4.3 percent, and were up in all regions except the Northeast, which saw a 2.9 percent decline. "Attractive affordability conditions from very low mortgage interest rates appear to be bringing buyers back to the market."However, the pace of a home sales recovery still depends more on job creation and an … (0 comments)
frisco real estate: Out-Of-Work Borrowers Getting Loans
- 10/09/10 09:55 AM
In Dallas, TX the unemployed are getting loans and they might not have to pay all the money back. HUD is offering bridge loans to people who are out of work and have fallen behind on their mortgage payments. Earlier this week, The U.S. Department of Housing and Urban Development (HUD) announced a new loan program available in 32 states and Puerto Rico. "It's a $1 billion initiative," says Lee Jones with HUD. The detailed release from HUD states, "The program will offer a declining balance, deferred payment "bridge loan" (non-recourse, subordinate loan with zero interest) for up to $50,000 to … (0 comments)
frisco real estate: Top Home Buying Mistakes
- 10/08/10 09:09 AM
Buying a home in Dallas, TX is perhaps the most arduous, expensive and, ultimately, valuable acquisition you'll ever complete Just one mistake could mean disaster - could be the worst mistake you'll ever make. In order to avoid titanic trip ups during such a trying transaction, RealEstate.com suggests buyers get to know the most common home buying blunders. To know them is to avoid them. Going solo Buying a house in Dallas, TX is a complex transaction. It should be a team effort. You'll need a real estate agent, lender, inspector, insurer, perhaps a lawyer and other team members to help … (0 comments)
frisco real estate: Foreclosures On Auto-Pilot?
- 10/07/10 09:54 AM
The recent news of "robo-signing" (signing off on foreclosures without reviewing and verifying the information in the documents) has chilled the rapid pace of foreclosures... at least for now. JPMorgan Chase has frozen foreclosures in about half the country due to the paperwork fiasco. "It didn't surprise me. You're talking about foreclosure mills that run thousands of foreclosures a month; how can the attorney filing on behalf of them have personal knowledge of all those files," says attorney and educator, Lance Churchill, President of FrontlineSeminars.com. It's being reported that up to 56,000 foreclosures are affected. An employee for JPMorgan Chase said … (0 comments)
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