Sep 1, 2011 | Buyers, Real Estate, Saving Money, The Marr Team
Trying to decide whether t
o rent or to buy? Trulia recently released their 2011 3rd Quarter numbers that calculates the price-to-rent ratios for the 50 largest U.S. cities using the median list price to buy compared with the median rent on two-bedroom apartments, condos and townhomes. In the July 2011 numbers Dallas was ranked 13 with a ratio of 12. Trulia categorizes cities between a 1-15 ratio to be much less expensive to buy than to rent. Overall according to the study, buying was cheaper than renting in 74 percent of the country’s 50 largest cities.
Oddly, Fort Worth ranks number 49 at an ratio of 32 which indicates that renting in this city is much less expensive than owning a home. To see more large cities and where they rank check out Trulia’s interactive map.
Our team has had several lease prospects turn into happy buyers over the past few months once we showed them the numbers. In today’s buyers market with softer real estate prices combined with rock-bottom interest rates a buyer in Dallas and Collin County can easily purchase a home with a lower monthly mortgage payment (including taxes and insurance) than compared to a rental rates in the current competitive rental market that continues to drive rental rates higher. Add that fact to some of the benefits of homeownership like building equity, more choices in location and stability for you and your family then it may make sense to start looking for a home to buy instead of renewing your lease.
Of course there are a few more things to consider before deciding to make a purchase:
- Do you have cash for the closing? (visit with a mortgage consultant to see how much you will need – ask us for recommendations on who to call)
- How long do you plan to stay?
- Can you afford the added expenses of home ownership? (HOA dues, maintenance, etc…)
The ultimate decision depends on each person’s situation and their plans for their future, but if you need more information to make your decision contact The Marr Team, your real estate consultants, we would be happy to help. And even if leasing is a better option for you – we can help there too.
Jul 28, 2011 | Homeowners, Property Valuation, Real Estate, Sellers, The Marr Team
YOUR REALTOR® can be a great resource even when you aren’t currently buying or selling real estate.
Home Renovations, Add-ons, and Thinking of making some changes to your home? Even if you won’t be selling for a few years, you might want to know what current trends are so you can ensure your updates will add value to your home in the long run. You may also want to ensure you are not overbuilding (upgrading beyond the standard) for the neighborhood. Sometimes the question may be as simple as whether buyers favor wood or tile floors, what types of pools are popular or as in-depth as determining whether a room addition would be a good investment. YOUR REALTOR® can provide advice and information.
Neighborhood Information Your neighborhood has an enormous effect on the value of your home. Sometimes you want to know the price your neighbor received for his home or who is the owner of record for the vacant home with the overgrown grass. It is great to be updated with facts, not just neighbor gossip. Just ask YOUR REALTOR® for the information you want. We offer websites that provide up-to-date information on any real estate matters in your neighborhood or call for specific information.
Comparative Market Analysis (CMA) Thinking about refinancing, upsizing, or downsizing in the future? Want to know what your home would sell for in today’s market. YOUR REALTOR® can compare the specific amenities in your home to comparable homes that have recently sold to provide you the information you need to make an informed decision about your family’s future. If you or someone you know is facing difficulty in these tough times we can consult on various options for homeowners who may be “under water” on their mortgage or are facing difficulties making mortgage payments.
Protesting Homeowner Taxes In May, when you open your tax bill you may first be elated to see the value of your home rising, then you remember you have to pay taxes based on this new assessed value. Is this a true current appreciation on your home or has the county overshot their numbers? Let YOUR REALTOR® know you are questioning the numbers and have them do an analysis to determine whether you might successfully protest your taxes. YOUR REALTOR® can prepare you with facts to show the appraiser when you meet with them. (Remember tax values are not a true indicator of market values as they vary widely in neighborhoods based on whether some homeowners have protested while others have not. Tax values should not be used as a basis of determining the sales price of a home so protesting your taxes will save you money and should not affect your market value.)
Finding an Agent in Another Area Let YOUR REALTOR® do the work to connect you with a real estate expert in any location across the country to ensure you get excellent service and information at your new location.
For Sale By Owner Thinking of trying to first sell it yourself? Contact YOUR REALTOR® to provide you with some important documents and disclosures that you, as a seller, are required by law to provide to any buyer.
Let us be YOUR REALTOR® we provide no-obligation consultations, market analysis and neighborhood information to all our clients, neighbors and friends and we would be happy to do the same for you!
Jun 22, 2011 | Leasing, Real Estate, The Marr Team
The Marr Team is available to help anyone buying, selling, investing, building or even leasing in the Collin County area.
The leasing market is moving fast this summer so make sure you have all the information you need to secure the house you want! The Marr Team can help you find the right house and help you present a great application packet for landlords.
If you are considering, leasing contact us for our helpful Guide to Leasing to answer your questions about the leasing process including searching, applications and required fee.
May 5, 2011 | Listings, The Marr Team
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- 4 Bedroom,
- 3 Full Bath
- 2 Dining Areas
- Family Room, Study, Large Game/Media Combo
- 3 Car Tandem Garage
- Backs Greenbelt
This home has spacious rooms and an abundance of storage all in a well-designed floor plan. You are greeted by a stunning entry hallway defined with rounded corners and decorative archways. The study and dining areas are adjacent to this hallway.
The family room with a wall of windows that views the backyard is open to the kitchen area. More beautiful arches with venetian paint techniques lead into the kitchen and breakfast areas. The kitchen is lined with attractive maple-colored cabinetry with dark accents. The kitchen has multiple work areas allowing more than one cook in this kitchen. The kitchen also boasts great storage not only in the cabinets, but with two full size pantries and an oversized utility room allows space for an extra refrigerator or freezer.
At the top of the stairs a huge gameroom/media combo can be viewed through archways and provides ample space for the entire family’s activities. The front balcony is also off the gameroom and is perfect for a morning cup of coffee. The 19′ x 13′ master bedroom provides a relaxing retreat. The master bath features two sinks, separate shower and garden tub, a linen closet, a separate toilet room and is nicely sized to provide everyone their own space on busy mornings. Three additional bedrooms and a full bath are also upstairs each with spacious rooms and closet space.
The backyard has an open patio great for entertaining or barbequing space. The home backs the greenbelt of farm land for a tranquil view and extra shade. For more outdoor play, a small neighborhood park is at the corner and provides a basketball court and picnic grilling area. Within walking distance also is Providence’s great recreation complex including clubhouse, water park, sand beach, lake, playground and sports courts.
The Providence community is close to the growing West Frisco/Little Elm amenities and provides fast access to 380 and the Dallas North Tollway for quick travel. This area is also zoned for Denton ISD’s exemplary-rated Providence Elementary.
See more photos at www.820VernonDrive.info
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