Today’s market offers great opportunities to find that perfect home you’ve been dreaming about. Give us a call and we’ll help you find the right home at the right price.
Don’t doubt that you can buy now. If you have not talked to a mortgage consultant I can give you the name of one to call that will give you straightforward information about purchasing today or preparing to purchase tomorrow. Some are saying that today’s interest rates may be the best we will see in our lifetime. If your current house still works for you – refinance! It is a great time to buy or invest!
Mortgage delinquenies continue to exist in high numbers, but TransUnion is reporting that we have had six consecutive quarters of decline in mortgage delinquencies. The rate at the end of the second quarter of 2011 was 5.8% for the national average. The rate is still about three times higher than pre-recession norms, but anytime we are moving in a positive direction it is worth talking about. The story also mentions that unemployment and lower home values keep pressure on the delinquency rates, but that tighter lending practices will continue to help improve the rates.
To see how the stricter guidelines are helping the numbers consider that according to the Federal Reserve Bank of Dallas, at the end of 2010 mortgage delinquency rates in Collin County were 5.9 percent for prime loans and 41.08 for subprime loans. Luckily the number of prime loans in Collin County were 114,093 and subprime only accounted for 2,354, but the numbers are similar throughout the North Texas area as to default rates for both types of loans. Dallas was one of the eight counties (out of 30 tracked) that had prime loans past due in the double-digit percentages at 10.19.
While Texas did not experience a drastic home appreciation and thus the region has not been into a mortgage crisis as severe as in other parts of the nation it has still changed the real estate market. Keep in mind that this means that in general about 6 out of every 100 people you know may be facing tough times paying their mortgage. If you or someone you know is facing foreclosure, talk to someone early in the process to help show you options whether it be loan modifications, short sale, selling, leasing or a variety of other options based on their specific circumstances. Tina Marr, of the Marr Team, has been certified as a Short Sale and Foreclosure Resource (SFR) and has helped other homeowners avoid foreclosure. Call today for a private, no-obligation consultation to discuss your situation.
Expansive Soils + Heat – Water = Moving Foundations. I have heard more than usual people talking about foundation issues and I have heard that foundation companies are extremely busy right now. So I just wanted to take a few minutes to share some information on the subject. I am certainly no expert in foundations, but I do talk to and meet with experts and learn things in my line of work from time to time and just thought I would share them. Please consult with true experts if you have additional questions or concerns.
1. Many people “water” their foundations incorrectly – I know I did too at one point. When the weather is so severe that you start seeing large cracks in the soil or the soil starts pulling away from your home you need to add moisture to keep the soil at a consistent level. Sometimes with the severe heat we have been having just watering your lawn may not do enough for your foundation and we pull out the soaker hoses. The soaker hoses should be placed 15-18 inches away from your foundation. Do not put soaker hoses up against your foundation as this can erode the soil at the base of the foundation and may not evenly provide the foundation moisture and cause additional problems. Using electric timers on the soaker hose will help regulate the amount of time and water.
2. Don’t forget about the flower beds and plants. Flowerbeds and areas with plants will require more water because the plants are thirsty too – you may need to turn up the sprinkler system on zones with trees and plants to ensure they aren’t stealing all the moisture from your foundation. You may not notice the ground separating in those hidden areas behind mulch or plants either if you don’t don’t pay close attention.
3. If you feel that you have foundation issues you can have free foundation estimates or you can have a structural engineer consult on the issue. If you have a foundation company come to look at the issues make sure you have more than one come out to get varying opinions – remember they have a product to sell you. Or you can make a $450 investment in a structural engineer consulation and they can let you know if you really have problems, options to remedy and guide you through the process ensure that any work completed is done correctly as well.
Keep in mind that expansive soil is like a living thing that grows with moisture and shrinks with lack of moisture and that doesn’t necessarily mean you have a problem. Strive to keep the soil around your home at a consistent moisture level year round.
Thinking of doing some final shopping to get those kids ready for school? Or just want to stay out of the heat and inside with a little shopping this weekend? It’s Tax Free Weekend and that could mean saving a little extra money on many items, but some you may not realize too. For example, what if your kids are not school age yet – did you know baby clothes and diapers are included in the list? Or if you want to prepare for our next rainstorm – pick up your raincoats or ponchos this weekend tax free. Need new workout clothes or ties – yep those would be tax free too if they are under $100. So while an 8.5% sale would not get most of us racing to the stores saving that bit of extra money on items you need anyway and are already on sale may be that extra savings that get you out in the crowds this weekend.
Welcome home to peace and quiet on 3.8 acres. This home offers all the comforts of a custom home with all the space and amenities to start living the country life. This home is just off CR545 from Melissa and less than 15 miles to the McKinney 380/75 intersection or 5 miles from TX-78.
In addition to a custom home on this property there is also a 40’ x 50’ workshop with a 2 Bedroom Apartment or office space. The property is fenced and crossed fence with a 25’ x 30’ hay barn and 3 stall barn – so bring your horses with you.
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Custom Home on 3.8 Acres
4 Bedrooms
2.5 Baths
Granite and Stainless Appliances
40′ x 50′ Barn with 2 Bed 1 Bath Apt
25′ x 30′ Hay Barn
As you enter the home you are greeted by a formal dining room with an impressive lighting fixture to give you a grand entry. Continuing from the front door into the family room you will notice soft arches frame the doorways and a barrel ceiling leads down the hallways to the bedroom areas. The spacious family room features a cast stone fireplace, niches and windows with views to the back of the property.
The kitchen is open to the living area over a breakfast bar and provides a delightful space for the cook in the family. The light and bright area has honey-colored cabinets and granite. Appliances are all stainless and ready for the big meal with double ovens and a large 6-burner commercial stove. Adjacent to the kitchen is the sunny breakfast area which also has views to the back.
Two bedrooms are at each end of the hallway and the 4th bedroom makes a great office just off the master bedroom. The bathrooms also feature granite countertops and a ½ bath is great for guests. Or if you have guest or family that may need to stay a little longer they can make themselves comfortable in their own 2 bedroom apartment with its own full bathroom, kitchen and living area.
Expansive Soils + Heat – Water = Moving Foundations. I have heard more than usual people talking about foundation issues and I have heard that foundation companies are extremely busy right now. So I just wanted to take a few minutes to share some information on the subject. I am certainly no expert in foundations, but I do talk to and meet with experts and learn things in my line of work from time to time and just thought I would share them. Please consult with true experts if you have additional questions or concerns.
Thinking of doing some final shopping to get those kids ready for school? Or just want to stay out of the heat and inside with a little shopping this weekend? It’s Tax Free Weekend and that could mean saving a little extra money on many items, but some you may not realize too. For example, what if your kids are not school age yet – did you know baby clothes and diapers are included in the list? Or if you want to prepare for our next rainstorm – pick up your raincoats or ponchos this weekend tax free. Need new workout clothes or ties – yep those would be tax free too if they are under $100. So while an 8.5% sale would not get most of us racing to the stores saving that bit of extra money on items you need anyway and are already on sale may be that extra savings that get you out in the crowds this weekend.