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.
Let’s get cooking! We can help you understand the market and find the best deal. Call us today for a free, no-obligation consultation. And try this cool tomato salad to enjoy during these hot summer days.
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 TaxesIn 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 AreaLet 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 OwnerThinking 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!
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.
In a declining market, short sales are common when homeowners owe more on their mortgage than their property is worth. Because of this deficit, owners suffering financial hardships cannot sell to avoid foreclosure. A short sale, also referred to as pre-foreclosure sales, are becoming an increasing part of the real estate market. In a short sale, the mortgage lender agrees to accept less than the mortgage balance due to an economic or financial hardship of the mortgagor. A short sale typically occurs to prevent a home foreclosure which also costs the mortgage lender a substantial amount of money. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales.
A short sale does adversely affect a person’s credit report, though the negative impact is typically less than a foreclosure. Normally when a lender decides to forgive all or a portion of a borrower’s debt and accept less, the forgiven amount is considered as income for the borrower and is liable to be taxed. There is also no guarantee that a lender who accepts a short sale will not legally pursue a borrower for the difference between the amount owed and the amount paid. Anyone considering short sales should consult a real estate lawyer and a tax accountant to discuss any ramifications.
The short sale process typically begins by listing your home for sale for less than the balance on the mortgage with the condition that the lender must approve all offers. Once you receive an offer on the property, the negotiations with the lender begin to try and resale the home to the new buyers. If you or someone you know needs a consultation on their options for selling their home whether distressed or not, please feel free to call me. I have been trained for short sales and have the Short Sale and Foreclosure specialist designation.
This is intended to provide basic information. Please consult your real estate, legal and tax professionals for specific questions based on your circumstances.
Welcome to 751 Sibyl Lane a 1-1/2 story home in the quiet Trails of Prosper community. The location of this home has great access to Prosper Schools including the 590,000 square foot state-of-the-art Prosper High School. For commuters you can get this ½ acre lot within less than 2 miles from Preston Road or North Dallas Parkway/Tollway access.
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4 Bedrooms, All Downstairs
2 Baths
Upstairs Gameroom
Open Floor Plan
Kitchen with Island
Oversized Pool
Large Backyard Grass
As you enter the home you are greeted by a formal dining room with decorative chair rail and crown molding. Traditional style continues following to the family room that opens to the kitchen. The comfortable living area has a beautiful cast stone fireplace and walls of windows with pool and backyard views.
The kitchen provides a delightful space for the cook in the family. The light and bright area has honey-colored cabinets, expansive counterspace and a work island. Adjacent to the kitchen is the sunny breakfast area and planning desk making the kitchen truly “the heart of the home”.
The split master bedroom and master bath has enough space for everyone on a busy morning with dual vanities, separate shower and jetted tub. The additional three bedrooms downstairs and secondary bath keeps everyone close, but with their own space. Upstairs the large open gameroom is secluded keeping noise away from the main living spaces. A walk-out attic space area gives great storage as well.
From the back door you walk out onto an open patio area to jump into the pool and spa – an oasis in the summer heat. The additional large backyard allows plenty of space for play or pets. The home backs to a wide greenbelt area so there are no neighbors directly behind you allowing for a more peaceful outdoor space.
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.
The Marr Team is available to help anyone buying, selling, investing, building or even leasing in the Collin County area.
