Tag Archives: realty

Strong Seller’s Market in DFW

It’s a perfect storm for a strong seller’s market in the Dallas/Arlington/Ft. Worth area. North Texas home prices are up 12% from last year. Housing inventory is currently very low in the DFW area, thus driving up the prices for sellers. Even better for sellers, most homeowners have a great deal more equity in their homes than they thought due to the North Texas market surge over the past several years.

If you have been thinking about selling your home, now is the time! April is historically a busy month for real estate, as many people choose Spring to put their home on the market. Even though DFW housing inventory is low, there’s no telling how much the market will be flooded with homes in April and May. If you are looking to make a huge profit on the sale of your home, don’t wait – now is your opportunity. The market is extremely hot right now and sellers have the upper hand.

If you want to take advantage of this strong seller’s market, expert North Texas realtor, Angelina Cook with DFW Realty by Design, is ready to get your home sold! Contact Angelina today to get in while DFW is one of the top housing markets in the U.S.

Contact: Angelina Cook

Ph: 817.217.7779

Email: angelina@dfwrbd.com

Facebook: DFW Realty by Design

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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

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

Homes For Heroes

HeroesI recently became a Real Estate Agent affiliate with a national program called Homes for Heroes®.

Homes for Heroes is an organization that was formed after the tragic events of 9/11 as a way say “Thank You” to the heroes of our nation. It is an organization that gives back to our local heroes who include, but are not limited to: Military personnel, Police/Peace Officers, Firefighters, First Responders, Teachers, and Health Care Workers.

This program allows me to give back to our local community heroes by giving them discounts and rebates when they buy or sell with me and/or an affiliated lender. We also have other real estate related businesses that are willing to give back to our local heroes, creating a well rounded savings package for our community heroes that continues to give back to them, even after they close. These businesses include insurance companies, home inspectors, pest inspectors, title companies, stagers, contractors and others.

Why am I telling you this? Because Homes for Heroes is available to our local heroes anywhere in the United States and you may be a hero, or know of a hero, that would benefit from this program.

This program does not stop at giving back when our heroes utilize our services. We also offer the Homes for Heroes Foundation®. The Homes for Heroes Foundation is a public charity exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. Its mission is to provide or coordinate financial assistance and housing resources to our Nation’s Heroes such as Military personnel, Police/Peace Officers, Firefighter and First Responders who demonstrate neediness.

To sign up, or for more information about Homes for Heroes (or the Foundation), log onto www.HomesForHeroes.com or contact me at 817-217-7779 or email angelina@dfwrbd.com or website: https://www.homesforheroes.com/affiliate/angelina-cook .  Also – here are some FAQ’s.

Angelina Cook

Angelina Cook Homes For Heroes Affiliate

Homes For Heroes Thank You