Texas real estate

“You’ve heard what appears to be a rumor: it’s possible to buy real estate with no money down. Well, you can’t stop holding your breath because the rumor is true. You really can buy real estate without putting down a penny but you should know what you’re doing before you get into it. There are pros and cons to purchasing your home this way. Be aware of what those pros and cons are so that you can buy real estate with no money down and no problems in the future.

Here is your guide to buying real estate with no money down:

o Borrowing money for a down payment is one of the most common methods of purchasing property with no money down. If you’re going to take this approach, you should make sure that you get a good loan with an interest rate that isn’t excessive. A line of credit or a home equity loan may be alternative options to a standard loan.

o Consider leasing until you buy. This is not a common real estate practice but it is something that can be done. The way it works is to lease the property with an option to buy during a set period of time. Negotiate a deal in which the money you’re putting towards the lease each month is considered the down payment on the purchase.

o Be firm in negotiations. It really is possible to just go in to the negotiation of the sale of your home intent on making “no down payment” a part of the plan. If you’re willing to concede to the seller on other points, you might be able to win out on this one. This is especially true if it’s a buyer’s market and the seller’s in a bind or if you’re willing to outbid others on the actual price of the property in order to negate the down payment.

o Know the legalities. There are certain no-money-down practices in real estate purchase that are common but are actually illegal. For example, sometimes the buyer will put down the down payment but then immediately get it back from the seller without disclosing the transaction. Appealing, but illegal.

o Realize that if it sounds too good to be true, it’s probably too good to be true. There are a lot of scams out there for convincing buyers to consider no payment down real estate purchases. There are very legitimate ways to do this but you need to do your research and not just jump on the first chance that passes you by. Look carefully at all of the real estate purchase terms and the reasons that the property might be offered with no down payment. In other words, go into the deal with open eyes and a sound mind.

o Consult a professional. Work with a real estate agent or get the advice of a real estate attorney so that you can be sure that the legalities are all covered and the deal is a good one.”

By: Eric Bramlett

Celina Texas real estate includes many unique custom built homes, most with oversized yards, and some with large acreage. When it comes to median prices for real estate Celina Texas comes in at around $300,000 for a home, but prices currently start at under $100,000.

Spring is considered the best time of year to sell, but the first step, if you are thinking of selling or buying is to find the right Realtor?.

If you invested in Celina Texas real estate in the nineties, it is likely that you have seen your property value triple over the years. If you are thinking of selling, a competent, knowledgeable agent should be able to effectively market your property, whether you have large acreage or a small home.

The market for large tracts of land includes developers, retail chains and individuals interested in a “country estate”. Small and medium sized homes are attractive for commuters, those who want to avoid the hustle and bustle of the Dallas lifestyle, at least on the weekends.

As the population of the Dallas-Ft. Worth metropolitan area has grown, construction of new homes has reached this area that consisted primarily of pasture land and ranches. In 2000, the population of Celina was under 2000. Now the city government reports that the population has exceeded 5000 and is preparing a Home Rule Charter.

Until 2003, Celina had only two fuel stations and a small Chevy dealership. Now retail establishments, including a Brookshire Grocery Store and a Sonic restaurant, can be found on Preston Road. All of this means that if you are ready to sell Celina Texas real estate, there are people ready to buy.

For the homebuyer, highlights of Celina Texas real estate include Carter Ranch estates on Preston Road, a large planned community of new homes being built on land previously owned by Punk Carter, a well known horse breeder, with many famous clients.

And, the exclusive Preston 455 development with large custom built homes on two acre lots. When it comes to investing in real estate Celina Texas is a good choice now, just as it was in previous years. It is likely that property values will continue to rise over the years, as the population is projected for continued growth.

Since it is a popular market, there are a large number of Celina Texas real estate agents to choose from. In order to find the right one, RE/MAX, an industry leader, recommends that you interview several.

If you are buying, look for special certifications like ABR, which is an Accredited Buyer Representative. If you are selling a million dollar estate, look for a CLHMS (Certified Luxury Home Marketing Specialist). He or she has additional education and experience in marketing high end properties. There are dozens of certifications and designations that can help you identify agents that specialize in serving your unique real estate needs.

At the interview, make sure that the agent listens and that you have a good rapport with him or her. After all, it is likely that you will be working together for several months and the agent will be helping you sell or buy the largest asset you own.

By: Russell Cantwell

Homeowners actively seeking to modify their loans are dealing with the threat of foreclosure. The modification process is often a test of wills – a marathon. How long and how persistent can you be in pursuing your modification? Successfully completing a loan modification requires many letters and calls.

But did you know that your lender has already sent your file to their attorneys? The lender’s attorney is running a parallel course to your modification journey. Increasing ling, the line between the information you receive from the lender and their attorney is blurred. I often hear from borrowers that they don’t have to worry about foreclosure because they’re working on the modification.

They could not be more wrong.

Texas foreclosure law requires certain notices be provided to you in advance of the actual foreclosure date. Let’s simplify this process by working backwards:

1. The last notice you will receive is the Notice of Sale, at least 21 days before the actual sale date. It will contain the actual sale date, time and location. Texas law requires that foreclosures are conducted on the first Tuesday of every month.

Please contact your attorney immediately if you have received a notice setting forth a date and time of sale. You must take action immediately to protect your home ownership!

2. You will receive a notice of acceleration at least 30 days prior to receiving the 21 day letter. This letter accelerates maturity of your promissory note so that the entire principal amount is due, not just your monthly payment.

This letter is also a call to action. Please contact an attorney for assistance.

3. You will receive a collection letter and threats of acceleration of foreclosure in the 30 day period prior to the actual acceleration of your loan.

This letter is also confusing as it may come from the lender or the lender’s attorney. In fact, none of the letters are required to be sent from an attorney.

So what do you look for, whether you’re attempting to modify your loan or not? The goal here is to provide you with the opportunity to protect your home and family. Usually that means bankruptcy. It’s not as bad as it sounds and it’s designed to protect you – take full advantage of the protections bankruptcy law allows.

Do not ignore certified letters. You do not avoid notice if you do not pick up the mail. All the lender has to do is prove that they mailed the letter, not that you picked it up. Look for a sale date included in the letter. Call an attorney immediately if you see a date and time in the letter. Do not be lulled into a false sense of security while you are negotiating your modification. Obtain promises in writing – do not rely on oral agreements from your lender.

Finally, be proactive about your situation. You’ll find that you actually have more information available to you than what you think.

By: Martin Cantu

“Many people mistakenly believe that a real estate agent and a real estate broker are the same, but this is actually untrue. While both a real estate agent and a real estate broker must undergo schooling and must pass a state real estate exam, there are some very significant differences between the two.

Considering Licensing

From a technical standpoint, the difference between a real estate agent and a real estate broker is the fact that they hold different licenses. In order to obtain the different licensing, a real estate broker must actually complete additional coursework beyond what a real estate agent must complete.

Although many people use the terms real estate agent and real estate broker interchangeably, a broker actually has more schooling and bears more responsibilities throughout the transaction.

Since a broker has more education and experience, real estate agents actually work beneath the broker. Therefore, a person that works as an independent realtor must be a broker as well. A real estate agency with multiple employees, however, may have only one licensed broker and several agents. While the agents will perform many of the same functions as the broker, the broker is the one that is ultimately responsible for ensuring the transaction is completed properly. In exchange for taking on this added responsibility, the broker receives a percentage of the commission the agent earns when selling a home.

The Personal Touch

When it comes to working with a real estate broker versus a real estate agent, you will probably notice little difference if you notice a difference at all. This is because agents are licensed and capable of performing the basic tasks that most buyers and sellers are interested in having completed for them. For example, if you are looking for a home, an agent can easily take you to see a variety of homes and can help you reach a deal with the seller. Similarly, if you are selling a home, a real estate agent will have access to all of the same connections as the broker he or she works for.

If you are working with an agent rather than directly with the broker, you should expect to receive the same level of service you would receive from the broker. If you are unhappy with the agent’s service, however, you can contact the broker and request that another agent be assigned to you. Similarly, if you have any questions or concerns that your agent cannot seem to address, you should contact the broker in order to make sure you are on the right track with the selling or purchase of your home.

The fact that every real estate agent is backed up by a broker is somewhat of a safety net for you as a consumer. In fact, if a crisis situation arises, the success of your transaction may come down to the abilities of the broker. Therefore, when hiring an agent, be sure you are comfortable with both the agent and the broker if they are not the same person. That way, you will be guaranteed the best experience possible.”

By: Eric Bramlett

Investors are asking where the safest real estate in today’s market is? One of the fastest growing cities in United States of America is Houston. Obama will raise taxes on all businesses that are making $250k or more that will put a large number out of business. But they will have one choice if they want to stay in business and that choice to move to Texas where the tax will be the lowest rate in the country. Yes Dallas and San Antonio will be on their top of their list But Houston is the best business oriented city out of all of them which will get most of those business that will move to Texas. Now that we have the reason here is what investors can cash in before the prices will go up.

First the single family homes that are in foreclosure investors can pick up cheap medium home price for July 2010 in Houston are $160,880. Here is a break down: on July sales of single-family homes in Houston totaled 4,297, down 25.1 percent from July 2009. This concludes four consecutive months of accelerated sales activity. Broken out by segment, July sales of homes priced from $80,000 and below were flat; homes priced between $80,000 and $150,000 fell 29.2 percent; those in the $150,000 to $250,000 dropped 35.0 percent; homes priced between $250,000 and $500,000 declined 19.8 percent; sales of luxury homes-those priced from $500,000 to the millions-tumbled 22.7 percent. On a year-to-date basis, however, single-family home sales are up 2.7 percent over 2009 levels.

The month of July brought Houston’s overall housing market largely negative results when all listing categories are compared to July of 2009. Total property sales and total dollar volume fell on a year-over-year basis while the average single-family home sales price rose to a two-year high and the median price dipped.

The number of available properties, or active listings, at the end of July rose 18.6 percent from July 2009 to 55,247. That represents 1,313 more active listings than one month earlier, in June 2010, and reflects additional housing inventory that is remaining on the market as a result of reduced consumer interest following the expiration of the homebuyer tax credit.

Month-end pending sales for July totaled 3,267, down 16.4 percent from last year, suggesting that sales will be down again in August. The month’s inventory of single-family homes for June extended to 7.7 months compared to 6.5 months one year earlier, but remains healthier than the national month’s inventory of single-family homes of 8.9 months, reported by the National Association of REALTORS (NAR).

Investors can pick up single family homes for a great price and rent them out until the economy will bounce back. The banks are not loaning to buyers which means that there are a lot of renters out there. If you want to search Houston and the surrounding areas for investment properties please feel free to do it from our website at http://houston-har.com. If you need help or have any questions feel free to email me. My next article will be on office building’s stay tone.

By: Boris Ackerman

Never Heard of Georgetown, Texas?

Austin, Texas is one of the hottest real estate markets in the central United States. Austin is known as the “Live Music Capital of the World,” and the city is often featured on television shows like “What You Get for the Money.” As a result, the Austin real estate marketing has been growing steadily.

But many people aren’t familiar with a gem-of-a-city just north of Austin. The city is called Georgetown, Texas, and it’s an ideal spot for home buyers interested in the greater Austin area.

Why Live in Georgetown, Texas?

Georgetown, Texas is located just 25 miles north of Austin. With rolling hills and plenty of woodlands, Georgetown serves as the “gateway” to Texas Hill Country. Over the years, the greater Austin area (of which Georgetown is a part) has ranked high on lists such as “Best Place to Live” and “Best City for Families.” With its rolling landscapes, affordable housing, and good schools, Georgetown attracts home buyers from all over Texas, and from all over the country as well.

Many Texans relocate to Georgetown so they can have a home in the country with easy access to the city (Austin) and enjoy one of the state’s lowest property tax rates. Out-of-state buyers relocate to Georgetown, Texas because the homes are often more affordable than in their own state. Whatever their reasons for relocating, most of these home buyers find exactly what they’re looking for in Georgetown, Texas.

Types of Homes in Georgetown, Texas

Georgetown, Texas also offers a diverse geography and a unique mix of cultures. Because of this, you’ll find a wide variety of homes in Georgetown, Texas. These diverse home styles include:

Golf course properties such as Berry Creek and Cimarron Hills Waterfront homes on Lake Georgetown Custom homes in all shapes, sizes and price ranges Restored homes in the Historic District in Georgetown, Texas
A Solid Investment in Georgetown, Texas

The greater Austin, Texas area (of which Georgetown is a part) continues to grow steadily. Many factors contribute to this growth, ranging from the affordability of the housing to the beauty of the land. One real estate search engine in particular has labeled Georgetown, Texas a “hot city,” which means it has “a lot of activity and consumer interest compared to other cities in Texas.” Because of these factors, Georgetown, Texas real estate will remain a solid investment well into the future.

By: Brandon Cornett

Although most areas of the country have seen serious recessions in the housing market, Texas cities have continued to show gains in housing sales. In fact, real estate brokers in Houston have to work hard at finding homes to meet the growing need for both new housing and employee relocations.

Houston has become the location of choice for many companies in a wide range of industries. Real estate agents in Houston offer a wealth of experience when it comes to efficiently relocating busy managers and their loved ones to this thriving metropolis. Houston realtors are thoroughly familiar with the top school districts, cultural offerings, and even traffic patterns, which are all important factors when selecting a neighborhood to live in.

Many new communities are being established throughout the Houston metropolitan area due to the steadily increasing population. The highway and road systems are becoming overwhelmed as a result. A good real estate agents can help a potential buyer locate a house that has good access to shopping and entertainment venues without having an unreasonable commute.

Houston real estate agents have a lot of experience selling luxury homes. The Houston area has numerous gated communities, luxury villas, penthouse condos, and huge mansions for sale. A careful buyer and his real estate agent can work together to discover a fabulous home in an exclusive neighborhood.

Brokers have experience in the farming community as well. Surrounding the urban area of Houston are the pastoral scenes of large ranches and small farms. Ranch sales are an important aspect of the agents’ job. Brokers can help both veteran rancher and gentleman farmer find the perfect plot of land to suit his or her needs.

Houston agents are busy with the influx of new residents and those wanting to trade up to larger homes as the city’s economy improves. But most agents will be happy to assist you in finding the right home. They will take the time to listen to your needs and work diligently to match the home with the buyer. They will also help you negotiate the best deal on your home so that your dream home matches your budget. A experienced agent will make your purchase in Houston not just a house, but a home.

By: Chris Crompton

Frisco real estate is exciting and varied. In particular, if you’re looking for excellent Frisco real estate, you owe it to yourself to check out some of the fantastic, Southwest Frisco neighborhoods. These neighborhoods boast beautiful homes, lovely locations and some of the best community amenities this side of Texas. Best of all, selection is no problem when it comes to Frisco real estate in Southwest Frisco!

Here is our pick of some of the best home communities that Southwest Frisco has to offer:

• Chapel Creek – Frisco real estate in Chapel Creek is highly desirable, for a number of reasons. This new home community, which will feature about 230 homes once the build out is complete, was originally started in 2002. Most of the lot sizes in Chapel Creek range from.2 to.33 of an acre and most homes are priced between $780,000 and $1.5 million. The median sales price stands at about $1.1 million. Children of Chapel Creek attend Frisco ISD schools. Neighborhood amenities at Chapel Creek include: a park, a greenbelt, a community lake; walking and biking paths, and an excellent homeowners association.

• Cheyenne Village – Cheyenne is a great example of superb Frisco real estate. Homes in this community were constructed between 2002 and 2007. Most lot sizes in Cheyenne Village range from.15 to.2 of an acre and homes sell for between $290,000 and $470,000. The median sales price remains at about $380,000. Children in Cheyenne Village attend Frisco ISD schools. Some of the neighborhood amenities of Cheyenne Village include: a neighborhood park, jogging and biking paths, a playground, and a homeowners association.

• Estates on Legacy Drive – The Estates on Legacy Drive consist of about 160 homes that were constructed between 2002 and 2005. Average lots sizes in Estates on Legacy Drive are about.2 to.33 of an acre. Homes here sell for between $300,000 and $500,000, with the median sales price being $400,000. Neighborhood amenities for this community include: a community club house, a neighborhood swimming pool and tennis courts, a lake, jogging and biking paths, and a children’s playground.

• Heritage Lakes – The master-planned community of Heritage Lakes consists of about 550 homes, most of which were constructed between 1999 and 2005. A typical lot size in this neighborhood is between.15 and.35 of an acre. Homes in Heritage Lakes typically sell for between $200,000 and $380,000, with the median sales price being about $290,000. Children in the Heritage Lakes community attend the Lewisville ISD schools. Community amenities for Heritage Lakes include: a community club house, a neighborhood swimming pool and tennis courts, jogging and biking paths, a children’s playground and a gated entrance.

• The Lakes on Legacy Drive – Once completed, the Lakes on Legacy Drive is expected to feature about 800 homes. A typical lot size for a home in the Lakes on Legacy Drive is about.1 to.5 of an acre. Homes here sell for between $220,000 and $900,000, with the median sales price being about $410,000. Several smaller communities are located within the Lakes on Legacy Drive, which include: Heritage Green Estates, the Lakes, the Villas, Village Green, Heritage Green Estates and Village Green. Children here attend either the Frisco ISD or the Lewisville ISD schools.

By: Richard R Soto