Are you a first time home buyer who was hoping to get the lowest mortgage rate possible?  Well if you waited for rates to get even lower then I am sorry to tell you that you have missed the low rate boat.  In the last two weeks mortgage rates have increased to right around 5.5% for qualified buyers!  I have spoken with several different lenders who are worried that rates could get as high as 7% here in the near future... So if you are one of those buyers still sitting on the sidelines why not jump in now and take advantage of the still historically low interest rates?  Plus if you are a first time home buyer you can get up to $8,000 from the government after you purchase a home!   Don't be one of those buyers who will be kicking themselves for not purchasing a home when rates were under... 06/10/2009

  The Government has extend the tax credit program this year and has actually improved it from 2008.  In 2008 the tax credit was $7,500 for first time home buyers and the buyer would have to repay that $7,500 every year in $500 increments for 15 years.   In 2009 the government increased the Tax credit to $8,000 and made it to where you DO NOT have to repay it!  That means qualified buyers will get $8,000 from the government after they close on a  home.   You must qualify in order to receive this tax credit.  The qualifications are: MUST be a first-time-home-buyer  The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buy... 06/10/2009

If you are thinking of buying Dallas real estate for rental property, there are a number of things to consider when choosing the property:  1. Location If you will be renting to a year 'round tenant, look for a property convenient to major employers, schools, shopping facilities, transportation. If the property will be a vacation property, you will want to be near major tourist attractions.  2. Price If you hope the rental income will be more than the cost of the monthly mortgage, insurance and taxes on the home, you should be careful to invest no more per month than the local rental market can bear. If your goal for rental income is to "break even" or even to have a negative cash flow, price becomes somewhat less important.  3. Resale Consider the long-term resale value of the property... 06/08/2009

Did you ever eat at a little "hole in the wall" type of restaurant and fall in love with their food?  You kept going back for years and years and eventually when you are not paying attention, they become a chain? Well that's what happened to me and my love affair with Dodie's Seafood Cajun Diner. I was first introduced to Dodie's back in 1991 when I first moved to Dallas.  My cousin Abby and I used to go to their first location at 2129 Greenville Avenue, a few blocks away from Abby's house at the time, and chow down on some very authentic Louisiana style Po Boys.  The food was always good and the beer was always cold... that makes for a winning combination in my book. Over the past 18 years, Dodie's has been a regular on my eating circuit.  It became even more convenient for me when my... 06/07/2009

  Start Planning now for NEXT weekend’s entertainment.  Next Friday evening marks the beginning of CityArts, a FREE 3-day arts festival presented by TXU Energy, in the Dallas Arts District. What’s fun and unique about CityArts is that it is truly a celebration of a variety of art forms.  Everything from the Culinary Arts, to Live Dance & Music Performances, to Visual Art.  The events are all free, as is admission to the Dallas Museum of Art, Nasher Sculpture Center and Crow Collection of Asian Art. CityArts will take place in the Downtown Dallas Arts District and will feature activities for children, as well as adults.  There will be culinary demonstrations and wine tastings, a judged art show featuring entries from more than 100 artists from across the country. For hours, directions a... 06/06/2009

If you are a home buyer or a home owner that has been sitting on the sidelines waiting for rates to get lower then I am sorry to say this but you have missed the lowest interest rates in history boat.... Mortgage rates this week have increased to a range of 5.25-5.75%... There was a day or two that rates hit 6%!   If you were waiting on the sidelines hoping for lower rates I advice you to take advantage of these mortgage rates right now because I've been told by some of the top mortgage professionals in the business that we will see rates at or above 6% by the end of the year (I hope their predictions don't come true!)!   So, if you want to take advantage of the still historically low rates then click here to begin your home search.   Seller's my team and I have seen a huge increase of ... 06/06/2009

Collin County and Dallas foreclosure homes declined slightly in April with 446 new Collin County and Dallas foreclosure filings in April compared to 460 filings in March, according to RealtyTrac.com. Collin County and Dallas Foreclosure Activity and Home Price Index Collin County and Dallas foreclosure activity is based on the total number of properties that receive foreclosure filings - default notice, foreclosure auction notice or repossession notice - each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.  Collin County and Dallas Foreclosure Geographical Comparison The Collin County and Dallas foreclosure rate is .04% higher than the state of  Texas rate and .11% lower th... 06/05/2009

The Real Estate Center at Texas A&M has released March 2009 sales statistics for Dallas real estate. Number of Sales:  3,533Down from 4,495 in March 2008 Average Sales Price:  $192,100Down from $214,200 in March 2008 Median Sales Price:  $148,600Down from $159,600 in March 2008 Total Listings:  26,346down from 30,124 in March 2008 Months Inventory: 6.6Up from 6.3 in March 2008 Historically high housing affordability and low mortgage interest rates, combined with buyer opportunities in the distressed sales market, have increased home sales in many areas of the country. These factors haven't started to affect Dallas real estate sales statistics for March, however. Soon, very soon. Learn more about Dallas real estate at TexasHomeCentral.com. Search all Dallas real estate and homes for sale 06/05/2009

lynn911.com When you speak with a Dallas loan officer discuss following for full complete understanding: a)  Based on lender approval letter is valid 60 days search for a Dallas home for sale NOTE:  Sales offer purchase a Dallas home  mandatory loan qualification statement attached show proof of funding b)   Rates quoted for interest ARE NOT SET TILL YOU HAVE AN EXECUTED CONTRACT and "rate is locked" interest can vary from point of approval till buyer and seller have agreed too  all the terms.  After option expiration rates ARE THEN locked c)  Many Dallas home buyers want a Realtor explain loan terms HOWEVER real estate agent are not present during formal discussions between mortgage broker and buyer PRIOR POSTS RELATED TOPICS:   06/03/2009 Dallas 1st time home buyers #1 problem I see e... 06/04/2009

Many Dallas home sellers look at the first offer on their home as just that, the First Offer with many more to come. You know what they say, ‘A bird in the hand is worth two in the bush.' And in the current Buyers Market, offers are few and far between. Dallas home sellers will want to consider the first offer very seriously. Here are reasons why:  An early offer (if you're lucky!) doesn't necessarily mean buyers are lining up to follow suit. It could just mean that your home meets the needs or preferences of that one particular buyer who made the offer. Your home will get the most interest from buyers just after it goes on the market. The longer it stays on the market, the more "desperate" buyers will think you are, prompting lower and lower offers. Even if the first offer is thousands... 06/04/2009

lynn911.com IF YOU ARE A 1ST HOME BUYER A FEW SUGGESTIONS: a)  Confer with all parties you respect their opinions PRIOR to contacting a Realtor OR loan officer. b)  Request all these parties accompany you on EACH property tour and conference calls listen what Realtor OR mortgage broker discuss with you. c)   Ask each of these family members, professional associates, whoever providing input how many homes or loans they personally OR professionally facilitated, their qualifications in the real estate industry, trade journals, nation wide networking, public media interviews, and etc. NOTE:  Realtor OR mortgage broker is extremely challenged we are working on your behalf, lender specifications, assist in making RIGHT DECISION on your home purchase.  IT BECOMES EXTREMELY CONFUSING for you as... 06/02/2009

Every business had them. Some of your clients are bright and get it. Others... just don't seem to have a clue. I have my share of brokers that I consult with who have all of the best tools we can provide for them. Killer IDX. SEO Friendly website. Here's an actual transcript of a conversation I had with a very large brokerage from one of the national real estate franchises a few weeks ago:   Hi XXXXX, this is Bart. I was calling to check in to see if you've been monitoring your leads on your IDX control panel. No, we haven't Here, let me show you. Go to your website and see the tiny IDX admin at the bottom of your page? Okay, good. Click that and log in using these credentials. See these leads? Wow. You've got a few here. Five leads were posted last week, three more from two weeks ago, ... 06/02/2009

Start planning now!  The nest Third Thursday at the Trinity River Audubon Center will be June 18, 2009 and that means free admission to the center from 9:00 A.M. to 9:00 P.M. The Trinity River Audubon Center is located at 6500 South Loop 12 in Dallas and is the gateway to exploring Dallas' Great Trinity Forest.  Measuring 6,000 acres, the Great Trinity Forest is the largest urban hardwood forest in the country! Located on 120 acres, the center is an educational focal point for learning about and exploring the unique and diverse community of plants and species of animals that call the Great Trinity Forest their home.  The forest also contains a unique mixture of bottomland hardwoods, wetlands and grasslands. The architecturally significant and state of the art 21,000 Square Foot Center h... 05/31/2009

  OK, I took a bit of license with the name, but this Thursday, June 4, 2009 is the first Thursday of the month and that means it is free film night at Dallas' Nasher Sculpture Center.  Admission will be free from 5:00 to 9:00 P.M. with the movie screening of M*A*S*H beginning at 7:00.  There is even a film chat with WFAA's Gary Cogill at 6:30 and a discussion will follow the film. This is a great opportunity to visit this world class sculpture museum for free and to see the memorable film on which the long running television series was based. Can't make it this week?  The fun continues all year long!  Upcoming Free Films on First Thursdays this summer include Jaws on July 2 and The Grapes of Wrath on August 6 and One Flew Over the Cuckoo's Nest on September 3. The Nasher Sculpture Cen... 05/31/2009

Today the Federal Housing finance Agency released their property on Dallas area housing prices. The report said that housing prices in the Dallas area were up by 0.08%. You could easily call that flat. Yesterday Standard & Poors/Case-Shiller report, the darlings of the press, came out and it said that prices were down in March by 5.6%. Information from the Texas A&M Real Estate Center showed that the average price of a single family home was down by 8% in March. Well is it down by 8%, or by 5.6% or up by 0.08%? the truth is that all of these reports are right and wrong. how can that be? If you want a detailed explanation take a look at my blog of May 2. The truth of the matter is that the real estate market is very localized and by that I mean by neighborhood. there are areas that are d... 05/27/2009

Who pays for what? I get this question a lot! Closing costs can add up to a LOT when buying or selling Dallas real estate. What are closing costs you ask? Simply put, they are the costs for closing on your home which include escrow fees, title insurance, attorney's fees, etc... but don't worry, I will go into more detail as we move along this subject. There are two sides to closing costs, those fees associated with buying a home and those associated with selling your home and I will tackle these seperately. BUYER'S CLOSING COSTS As a home buyer, not only do you need to bring cash to the closing table for the down payment on your mortgage (3.5% of purchase price for FHA, $100 for VA, etc), but also cash for closing costs. These closing costs can include fees such as pre-paid taxes and ho... 05/26/2009

When I was growing up in New Jersey, breakfasts at the Hibernia Diner were a regular part of the New Jersey experience.  Diners were seemingly everywhere in the state and the food was always good, hearty and the portions were huge. I left New Jersey almost 30 years ago, and I miss the diners... the friendly wait staff that has been there forever and the food.  Lunches and dinners were a part of that experience, but for me, breakfast at the diner was special. In Dallas there are a few "diner-esque" experiences.  Some capture more of the atmosphere, while others have more of the food experience nailed down.  One of the choices that offers a great combination of both is Lucky's Café.  Located at 3531 Oak Lawn Avenue, Lucky's has a great breakfast menu featuring Eggs, Omelets, Pancakes, Wa... 05/24/2009

lynn911.com #1 QUESTION ASKED ME ACROSS THE COUNTRY THIS WEEK: "In this economy when will home prices drop in value? ANSWER:  As professional code of ethics real estate agents we can not predict the future. If you are searching to purchase a Dallas home for sale much of media can be very misleading is a general "brush stroke" across the country not in a specific area.  Dallas Fort Worth is a strong economy vs. other areas across the country. Work with a local Realtor who can determine your specifications and lender approval amounts.  There are Dallas homes for sale which have equity however you can be bidding against other families.  If you want to purchase a home keep in mind you receive annual tax benefits as long as you own the  home, does increase in value.  Now is a great time purc... 05/23/2009

lynn911.com On the behalf of all on Lynn911 Dallas Real Estate Team Have a happy and safe Memorial Day Weekend Thank you to our clients and who are in military or veterans who have fought too keep us safe Direct Link Memorial Day History I found to be quite interesting times we forget about what something means or reason why.  Interesting how many Realtors are Military Veterans Sign in below with your comments Any story you like to post         05/23/2009

lynn911.com Memorial Day Weekend Great time save money on purchasing appliances for your home  or office NO TAX CHARGED ! EXAMPLE:  Refrigerator PURCHASE;  $2000 - Cost    165 - Approximately Tax _________ $2165   Total Cost     PURCHASE Memorial Day Weekend YOU SAVE $165 Could pay for delivery cost or Save more if you take it home with you install yourself Direct Links to other household savings or ideas: How to reduce household expenses on lawn mowing service OR your personal time Cost savings on landscaping projects FREE BUILDING MATERIALS  HOW TO SAVE MONEY utilities bills have entire family participate APPROX. $3000 PER YEAR  NEW LIGHTING FIXTURES CAN UPDATE ANY HOME How to save money on monthly household expenses How to save money with coupons … GREAT site for entire family Shoppi... 05/23/2009