Tag Archives: lifestyle

Owner Financing – Is it the right decision for you?

If you are on the house hunt, you may have come across a home for sale listed as ‘Owner Financed’. Here’s a quick guide to see if it is a good fit for you as a buyer or seller!

1. What is Owner Financing?

When the buyer finances the purchase of the house (minus the down payment) through the seller. Basically, the seller gives the buyer the loan on the home, instead of a conventional lender, such as a bank.

2. How is the loan paid?

The buyer and seller agree on the loan terms: interest rate, monthly payment amount, length of loan (usually short, 3-10 years), and consequences of default. Often, there is a balloon payment – an oversized payment due at the end of the mortgage.

3. How much is the down payment?

Amounts will vary (up to 30% or more), but most owner financing sellers will want a significant amount down to protect their equity. If a buyer is willing to put a hefty amount down up front, it gives the seller more confidence that the buyer is unlikely to go into foreclosure.

4. What are the different types of Owner Financing?

Land contracts;

Promissory notes and mortgage: all-inclusive mortgage, junior mortgage;

Lease purchase agreements

5. Why is Owner Financing good for a buyer?

A buyer does not need to go through the difficult qualification process of a conventional lender; although most sellers will at least do a credit check. The flexibility of designing your own payment plan that fits your needs is very appealing to most buyers. Little to no closing costs is one of the biggest perks, as there are none of the fees that go along with a lending institution. In addition, change of possession of the home usually occurs faster since the seller and buyer can schedule their own closing date.

6. Why is Owner Financing good for a seller?

A seller receives a nice monthly income by serving as the lender. Sellers have the opportunity to make money on a current investment as the interest rate is usually higher for owner financing than traditional financing. A seller can ask for a higher interest rate than a traditional lender depending on the market and the popularity of the home (i.e. if traditional interest rates are 4%, a seller could ask for 6-10%). Since owner financing is rare, these homes tend to sell pretty fast because they stand out. The seller can often get full asking price when selling with owner financing. A seller will receive a tax break compared to a traditional home sale because you only have to report the income received per year. It is also a great opportunity to get a buyer in your property faster as the buyer can take advantage of the flexibility of owner financing while they work with a lender to determine what they need to do to obtain traditional financing before the balloon payment is due.

If you are looking to buy or sell an Owner Financed property, expert realtor Angelina Cook with DFW Realty by Design is at your service! Contact her today to take advantage of this unique way to buy or sell your home.

Contact: Angelina Cook

Ph: 817.217.7779

Email: angelina@dfwrbd.com

Facebook: DFW Realty by Design

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For Sale: Wonderful 3/2 Arlington Home Near Clarence Foster Park

Looking for a great 3 bedroom, 2 bathroom, 2,021 sq.ft. home right next to a gorgeous park with trails, BBQ grill, play structure and circuit training equipment? Look no further. This is the perfect property for your family to enjoy beautiful North Texas!

Fabulous floor plan in a long culdesac just steps away from the newly renovated Clarence Foster Park in Arlington, Texas. Split bedrooms, brand new master shower, recently updated guest bath, sink in utility and a graciously sized kitchen are just some of the features this home offers its new owner! Seller is offering update allowance with acceptable offer. This is an AWESOME opportunity to get into a very sought after neighborhood and choose all your own updates!

Don’t miss out on this beautiful home in a fantastic location! Contact Angelina Cook with DFW Realty by Design, today!

Contact: Angelina Cook

Ph: 817.217.7779

Email: angelina@dfwrbd.com

Facebook: DFW Realty by Design

Moving On Up – Purchasing Your Second Home

Is your family outgrowing your house? Do you need more entertaining space? Taking in a sick or elderly relative? If the answer is “Yes” to any of these questions, then upsizing is the solution for you!

It might be time to consider purchasing your next home, right here in North Texas. Forbes Magazine has named Dallas and Fort Worth two of the top 10 cities in the U.S. to invest in housing in 2015 due to their diversified economies (http://www.forbes.com/sites/erincarlyle/2015/01/09/best-buy-cities-where-to-invest-in-housing-in-2015/2/). With its parks, museums, zoos, convenient shopping, professional sports teams, and much more – North Texas is an ideal place to settle down and raise a family.

While moving into a bigger home sounds exhilarating, it’s not without its share of stress. Consider these tips to help make your transition a smooth one:

  • Keep your old furniture: Even though you will be excited to fill your new and improved home with new furniture…wait. Live in your new place with your old belongings for a few months to make sure you know what measurements, configurations, and designs will fit with your family’s lifestyle and the flow of the house.
  • Don’t skimp on storage: A bigger home does not always mean more storage space. Make sure your new house has the space to accommodate your storage needs; or, be prepared to get rid of unnecessary items before you move.
  • Sell first: Finding a buyer for your current home will give you a better idea of your exact budget for upsizing. Buying your bigger home before you have sold your current one puts you at the risk of making payments on two homes at the same time. And if your home does not sell for the price you had hoped, you may find yourself in a difficult financial situation due to the purchase of your new home.

If you and your family are ready to upsize, look no further than DFW Realty by Design. Realtor Angelina Cook is an expert in the North Texas area and will make selling your old home and buying your ‘bigger and better’ one a stress-free process. 2015 is a great time for the North Texas housing market, so take advantage now! Let DFW Realty by Design be your guide to upsizing into your new home.

Contact Angelina Cook

Email: Angelina@dfwrbd.com

Ph: 817.217.7779

Website: http://www.dfwrbd.com

Facebook: DFW Realty by Design

North Texas Runs

A common misconception about Texas is that it is just about Cowboys, trucks, and ‘super-sized everything’. On the contrary, Texas has a thriving running scene that rivals even the most active and healthiest states. Whether you are looking for a 5K, Ultra Marathon and anything in between, you can find the race you want in North Texas. Runners in the Dallas/Fort Worth area are perhaps the most fortunate in the state as there is at least one race every single weekend of the year; and in most cases, the hard part is choosing among the many running events on the same day. The DFW area puts on some major races each year that play host to world-class talent. The Metro PCS Dallas Marathon, The Cowtown Marathon, Rock ‘n’ Roll Dallas Half Marathon, and Big D Texas Marathon, are just a few of the ‘can’t miss’ running events of the year in North Texas. Check out the following link to plan your 2015 race calendar: http://www.dfwraces.com. Now the issue of where to train. You don’t have to look far to find amazing running spots in North Texas. Tree-lined neighborhoods, waterfront paths, spacious parks, wooded trails – this region has every kind of running environment you could desire. Here are just a few of the great DFW running areas:

  • White Rock Lake in Dallas has a wide 9.33 mile running path along the water and is a hub of activity on the weekends. One of the many perks of this location, is it abuts the exquisite and ‘must-see’ North Texas attraction, the Dallas Arboretum & Botanical Gardens. This lakeside loop is the perfect oasis for the urban runner. For more information, go to: http://www.dallasparks.org/235/White-Rock-Lake.
  • River Legacy Parks in Arlington has an extensive trail system along the banks of the Trinity River. Escape the noise in your life and run through this serene wooded area that is meticulously maintained by the City of Arlington. As an added bonus for parents with young kids, don’t miss the one-of-a-kind playground near the parking lot, complete with tree house style play structures and a huge dinosaur skeleton that is sure to inspire future young archaeologists. For more information, go to: https://naturallyfun.org/river-legacy-parks.
  • Trinity Trails in Fort Worth has up to 20 miles of crushed limestone gravel for running. From ballparks to country clubs to the downtown Ft. Worth skyline, Trinity Trails provides an ‘easy-on-the-knees’ running surface with great views for miles. For more information, go to: http://www.trinitytrails.org.

North Texas is a runner’s dream. Lace up and get out there!

New Year, New Us!

There’s something special about a new year; it’s a chance to make a fresh start for another 365 days of yourself. Whether you vow to give up a certain vice, learn a new skill, make healthier choices, etc., January 1, 2015 serves as your personal Restart button. At DFW Realty By Design, we have embraced the opportunity to “hit Restart” in 2015 and have incorporated new ways to better serve our clients and the community of North Texas.

For our New Year’s Resolution, DFW Realty By Design commits to connecting our current and future clients with North Texas Community events and activities and helping our clients and community live their best lives possible. To achieve these goals for 2015, DFW Realty By Design has joined Instagram (dfwrealtybydesign_angelinacook), Twitter (@acook_dfwrbd), and Pinterest (DFW Realty by Design – Angelina Cook). In addition to our current Facebook page DFW Realty By Design, we have also created a Facebook page devoted to lifestyle and community events, called Live Love North Texas.

Through all of these outlets, we will strive to inform you of exciting, enriching, enjoyable, and entertaining events going on in Dallas/Ft. Worth/Arlington and surrounding areas, as well as highlight special places, such as parks, museums, and stores, that make North Texas the best place to live! To top things off, we will also include lifestyle information, such as recipes, running tips, DIY projects, decorating ideas, and much more,  in hopes to help you in your daily personal journey.

Whether you are a new or life-long member of the North Texas Community, or you are looking to buy/sell a home or horse property in North Texas, we are honored to serve you.  We hope you will join us this year as we “hit Restart”  to make this the best year yet!

Cheers to 2015!