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Dallas, TX Real Estate News

By MaryBeth Harrison, The Harrison Group
(Dallas Native)
Job-loss mortgage insurance is available from a host of sources and policies vary in coverage, cost, benefits and requirements, so you'd better shop around. Simply put, for policy holders, job-loss mortgage insurance pays your mortgage when you lose your job -- to a point. Typically paid direct to the lender, policy benefits can cover principal, interest, taxes and insurance, if all items are included in the original mortgage payment. "The job loss insurance is a big help for many mentally, knowing that the help is available if they should lose their jobs. And it gives comfort for some that are sitting on the fence," said Quincy A. Virgilio, Jr. president of the Santa Clara County Association of Realtors. The coverage can be a good deal if you fear job loss, if you have no other financi...
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By Kim Dean, Simply Texas Real Estate - Broker/Owner
(www.GoSimplyTexas.com)
This weekend I ventured South on 75, leaving the 'burbs of McKinney behind me for a weekend in the Big D. The occasion? My sister-in-law was turning the Big 3-0 and a girls weekend at swank Hotel ZaZa was JUST the place to go to celebrate. Since McKinney is only a short 30-40 minute drive from the Dallas nightlife it was a no-brainer. Hotel ZaZa is a one-of-a-kind boutique hotel that has the feel of New York, LA and Hollywood all rolled up into one FUN Dallas Hotel. Not only do business travelers and locals love ZaZa, but Kid Rock thought it was cool enough to hang at over the 4th of July weekend, and NKOTB had already made an appearance before I checked in! Guess ZaZa has "The Right Stuff", huh? (Sorry, couldn't resist the pun). While downtown, I couldn't escape my passion for real est...
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Did the Kris Allen and Adam Lambert finale to the 2009 season of American Idol leave you wanting more?  A rematch maybe?  Do you still think that Allison Iraheta should have been in the top 2 finalists?  Want to relive the excitement of the season with these talented young performers? On July 23, at Dallas' American Airlines Center in Victory Park, they will all be back... Live and in-person!  Tickets range from $40.50 to $69.50.  More information is available here. Be sure not to miss what may be your last chance to see this season's top eight finalists  appear on stage together!
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The Good: In this past Friday's Dallas Morning News, Real Estate Editor, Steve Brown reported that for the first time in five months, that foreclosures in the DFW area have dropped below 5,000.  For the North Texas area including Dallas, Tarrant, Collin and Denton counties, the August 4 foreclosure auction will include 4,796 properties according to the statistics provided to the Dallas Morning News by Foreclosure Listing Service.   The Bad: Also according to the Dallas Morning News, while month to month, we have seen a drop in the number of properties posted for foreclosure, the 4,796 number still represents an increase of 5% over August, 2008. The Ugly: A recap of Year-To-Date foreclosure statistics shows that in the first 8 months of 2009, there have been 39,917 home posted for forecl...
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By Lynn911.com ~ Dallas Real Estate Agent Top Team
(Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com )
lynn911.com HOW TO AVOID A COSTLY MISTAKE SIMPLY SET THE TIMER AS A REMINDER a)  I received call from neighbor next door to one of my listings b)  Owner travels all over the world never there c)   Neighbor:  I did not know who else to call water is going everywhere ! HELP d)   My response:  Can you see where and why e)  Neighbor:  No fence is too high unless we get on roof f)   CLOSING STATEMENT: Garden hose in pool on for days ! HINT: I have done the same thing FORGOT now set many timers where I can hear them remind me remove the hose!    
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By Lynn911.com ~ Dallas Real Estate Agent Top Team
(Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com )
lynn911.com I want to purchase Dallas bank foreclosure BUT refuse sign all amendments When it comes to purchasing Dallas home for sale involves a bank approval short sale or foreclosure, bank has it own set of rules which outside of the hands of listing OR buyers agent. If you don't follow rules of bank then most likely you won't be able to purchase a Dallas bank foreclosure or short sale. Bank has liability issues want to reconfirm you not going to sue.  Amendments can range from a few pages appears to be several 100 pages.  Each box, line, bottom of each page must be initialed by all parties and signed. Realtors don't make up these rules TRUST ME as agents we rather skip all the paperwork submit only the standard sales offer. CLOSING STATEMENT: If you don't sign amendments your sales ...
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By Ashley Sharum, Ebby Halliday Realtors
(972.978.3109)
Homebuying Tips - How to Avoid being left in the Dark! An article from MSN Real Estate was recently sent to me from a family member that enjoys reading about market trends and my field of work. "5 Ways Homebuyers Are Kept In the Dark" lists five major areas of concern in the homebuying process and 21 homebuying tips for shedding light to these situations. Oftentimes I will read articles like this (especially if referred to me by someone) because it usually lets me refresh my mode of thought to what a Buyer would be researching in their purchase - they're looking for homebuying tips! This article specifically outlined ways that real estate professionals sometimes profit at a Buyers expense. I read. I considered. And I had to share... 1. "Home inspections from agent-referred inspectors"- ...
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By John Jones
(Briggs Freeman Sotheby's International Realty)
Although many people fear the negative stigma associated with bankruptcy, sometimes it may be the only "make sense" option to recover from a financial crisis.  However, many of the general rumors about Bankruptcy are overblown, such as the notion that it will "ruin your credit" for 7-10 years.  The truth is that although a bankruptcy will stay on your credit report for a long time (7 years for a Chapter 13 and 10 years for a Chapter 7), it's quite possible to build your credit back up to a range that's acceptable to qualify for a mortgage and even obtain what most lenders would consider a "good" credit score in as little as two years.  Furthermore, it may be possible to qualify for an FHA loan with an active Chapter 13 Bankruptcy as little as 12 months after establishing a repayment pla...
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By Loreena and Michael Yeo, Real Estate Agents
(3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co.)
I'm a die-hard Oklahoma Sooner fan. I even timed the birth of my child during the Beat Texas weekend (not really). So, as you can tell, I'm ready to purchase my Oklahoma Sooner College Football tickets for the 1st game this season at the new Cowboys Stadium in Arlington Texas. Get ready Sooner fans!!!! The 1st game of the 2009 Oklahoma Season is on September 5th against Brigham Young (BYU) Cougars at 6pm CST and also the inaugural game in the Cowboys stadium. A special pre-sale is offered to BoomerBlast subscribers. Boomerblast is the official email newsletter for Oklahoma Sooner fans. Signup for the Boomerblast Email Newsletter here. You must sign up by July 23 before you are permitted to purchase the pre-sale on July 30. The general public can purchase the ticket by August 1st. Don't...
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By Lynn Larson, REALTOR
(Keller Williams Elite)
Practicing good seller's etiquette Let's face it: When your house goes on the market, you're not only opening the door to prospective buyers, but also sometimes to unknown vendors and naïve or unqualified buyers. As with any business transaction, there is an expected protocol to how sellers, buyers and their respective agents interact. Should you find yourself in a sticky situation, alert your agent so he or she can address and remedy the problem. The aggressive agentWhen your agent puts your house on the market, typically all promotional materials state clearly that your agent is the primary contact for buyers and buyers' agents. However, sometimes a buyer's agent will contact a seller directly to try to either win over their business or cut the seller's agent out of the deal. This is ...
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By Lynn Larson, REALTOR
(Keller Williams Elite)
10 Questions to Ask Your Realtor about Selling a House Are you a full-time professional real estate agent? How long have you worked full time in real estate? How long have you been representing buyers? What professional designations do you have?Knowing whether or not your agent practices full time can help you determine potential scheduling conflicts and his or her commitment to your transaction. As with any profession, the number of years a person has been in the business does not necessarily reflect the level of service you can expect, but it is a good starting point for your discussion. The same issue can apply to professional designations. Do you have a personal assistant, team or staff to handle different parts of the purchase? What are their names and how will each of them help me...
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By Lynn Larson, REALTOR
(Keller Williams Elite)
Eight steps to selling your home Define your needs. Write down all the reasons for selling your home. Ask yourself, "Why do I want to sell and what do I expect to accomplish with the sale?" For example, a growing family may prompt your need for a larger home, or a job opportunity in another city may necessitate a move. For your goals, write down if you'd like to sell your house within a certain time frame or make a particular profit margin. Work with your real estate agent to map out the best path to achieve your objectives and set a realistic time frame for the sale. Name your price. Your next objective should be to determine the best possible selling price for your house. Setting a fair asking price from the outset will generate the most activity from other real estate agents and buye...
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By Lynn911.com ~ Dallas Real Estate Agent Top Team
(Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com )
lynn911.com SELLER DISCLOSURE: If you are purchasing a home DIRECT FROM SELLER / PROPERTY OWNER not a bank foreclosure there is always a seller disclosure signed by property owner allows clarity of any questions you might have regarding property you wish purchase. Many instances these disclosures are attached to MLS listing page where you view additional pictures of property. IF NOT ATTACHED MLS POSTING sales offer designates a number of days for property owner furnish property disclosure NOTE:  Bank foreclosure OR property been leased to a tenant usually does not have any seller disclosure neither one of these sellers have any idea what has taken place on property.    
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By Lynn911.com ~ Dallas Real Estate Agent Top Team
(Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com )
lynn911.com DALLAS HOME BUYERS TURNED DOWN BY LENDERS: If you are searching purchase a home and continually turned down by lenders, best confront the mortgage broker ask why and for assistance to get you from non qualifying buyer to qualified home owner. In many instances resolving collection account, judgment, lien, which can take approximately 90 days resolve all those concerns move forward qualifying buyer. Purchasing a home in today's market low interest rates, annual tax benefits, ownership of a home than making landlord rich CLOSING STATEMENT: WHICH sounds better RESOLVE YOUR PAST ISSUES and own something that is yours .   PRIOR POST DIRECT LINKS: Home buyer question " when will home prices drop in value ?" Dallas home buyers " I would like take delivery " of my new home tomorrow ...
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By Lynn911.com ~ Dallas Real Estate Agent Top Team
(Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com )
lynn911.com Dallas #1 Question I answered across the country this week: NOTE:  After executed contract been signed by both parties Buyers not wanting purchase a home Seller not wanting to sale their home Executed contract purchase a home or sale a home binding agreement between buyer and seller.  If either buyer or seller have breached the performance terms and conditions of executed sale agreement either party (buyer / seller) can be sued.  Title company MUST COMPLY by terms and conditions of sales agreement.  Title company must have all parties agree with an executed amendment release earnest/escrow money tendered. CLOSING STATEMENT Purchasing or selling a home is contractual based agreement you can't decide return a home after you have breached buyers performance OR prefer not sale a...
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OK, tomorrow is July 11 (get it… 7-11) and that’s the day the good folks at Dallas based 7-11® celebrate their company's birthday.  It also happens to be Austin REALTOR®, Donna Harris’ birthday.  So, in honor of 7-11’s® 82nd birthday (Donna is younger than that), 7-11® will be giving away free 7.11 oz. Slurpees® at their over 6,000 stores in the U.S. and Canada! YUM!  What a delicious way to celebrate and beat tomorrow’s anticipated 105 degree heat in Dallas.  7-11® says that they are planning to give away almost 5 million free Slurpees® tomorrow folks, so plan ahead… there may be a line! You can learn more about 7-11’s® birthday festivities here. HAPPY BIRTHDAY 7-11® and Donna! ______________________________ Are you looking for a new home or to sell your current one?  Is trying to ach...
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By Lynn Larson, REALTOR
(Keller Williams Elite)
Eight important questions to ask your agent Qualifications are important. However, finding a solid, professional agent means getting beyond the resume, and into what makes an agent effective. Use the following questions as your starting point in hiring your licensed, professional real estate agent: Why did you become a real estate agent? Why should I work with you? What do you do better than other real estate agents? What process will you use to help me find the right home for my particular wants and needs? What are the most common things that go wrong in a transaction and how would you handle them? What are some mistakes that you think people make when buying their first home? What other professionals do you suggest we work with and what are their credentials? Can you provide me with r...
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By Lynn Larson, REALTOR
(Keller Williams Elite)
  7 main roles of your real estate agent A Buyer's Real Estate Agent: Educates you about your market. Analyzes your wants and needs. Guides you to homes that fit your criteria. Coordinates the work of other needed professionals. Negotiates on your behalf. Checks and double-checks paperwork and deadlines. Solves any problems that may arise.
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By Lynn Larson, REALTOR
(Keller Williams Elite)
Opting for new home construction Whether to buy an existing home or have one built is yet another decision to make during the home-buying process. If you decide to go with new construction, a real estate agent can be a powerful advocate in your corner as you negotiate upgrades, a move-in date and other terms with the home builder. Below are some basic pointers to prepare you for the journey ahead. Selecting a builderShopping for a large production or custom home builder can be a daunting task. Start by defining what architectural styles appeal to you and then seek out the builders in your area who offer those styles. Due diligence is essential. Ask friends for referrals to get firsthand accounts; verify the builder's state license status, if applicable; and check whether they're certifi...
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By Lynn Larson, REALTOR
(Keller Williams Elite)
Location, location, location Where you buy not only affects the home's current and future value, but it also affects your lifestyle. Your agent will be able to conduct a more targeted home search if you outline your preferences in neighborhoods and nearby amenities. Here's a checklist of items you should consider and communicate to your chosen real estate agent. * Urban, suburban or rural* Commute time* School districts* Desirable neighborhoods* Proximity to the airport* Proximity to restaurants and retail* Access to major highways and thoroughfares* Access to public transportation* Health care facilities* Parks and recreation* Length of time you plan to live in the home (Your agent should be knowledgeable about growth trends and projections that could affect your investment.)
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