Dallas Fort Worth Homes and Real Estate for Sale

The BBVA Compass Professional Program | 95% Mortgage Financing for Dallas Physicians

John Jones (Texas Urban Living Real Estate) — Tue, 08 Feb 2011 17:19:51 -0500

If you are a physician or eligible professional in the Dallas area and are in the market to purchase a home or refinance an existing mortgage, your friends at BBVA Compass have tailored a special program called The Professional Program, which offers competitive rates and 95% mortgage financing for physicians/doctors in the Dallas area. (Program guidelines changed from 100% to 95% max financing as of 6/14/2011).

This program is only offered at BBVA Compass and is a unique opportunity for qualified Dallas area doctors/physicians and eligible professionals to obtain 95% mortgage financing on a home purchase.

Program highlights of the Professional Program for physicians (Program rules are subject to change at any time without notice):

95% mortgage financing up to one million dollars for primary residences.
NO PMI (private mortgage insurance) required!
Eligible properties inclue Single Family Residences, Town Homes, Lofts and Condominiums.
Student loan payments are NOT included in the debt-to-income ratio calculation if they are deferred for at least 12 months.
Expansion of loan-to-value ratios for physicians that want to refinance an existing mortgage.
BBVA Compass offers a free investment and insurance review with a wealth management professional.

Doctors/Physicians Eligible for the 95% Mortgage Financing Program include:

Resident or practicing physicians.
Oral surgeons

Other Eligible Professions include:

Attorneys
Certified Public Accountants

Is the BBVA Compass Professional Program available in other areas besides Dallas?

YES! BBVA Compass offers this program in seven states:

Texas
New Mexico
Arizona
California
Colorado
Florida
Alabama

The first step in the homebuying process should always be mortgage pre-approval. BBVA Compass makes pre-approval fast and easy. Their automated approval system allows for quick and streamlined loan pre-approvals with no application fee.

To consult with a BBVA Compass loan professional about this program, please call Cari Marks at (972) 705-4408. Or you can email her directly at cari.marks@bbvacompass.com

DISCLAIMER: I have no affiliation with BBVA Compass and am only providing this information as a service to doctors/physicians and other professionals that may benefit. If you are a Dallas area physician in the market to purchase a home, please call me today at (972) 978-3553 or email me at johnjonesrealtor@gmail.com .

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

Dallas, TX neighborhoods and subdivisions of Lake Highlands, White Rock Lake, Lochwood, Eastwood, L Streets, M Streets, Hollywood Heights, Lakewood, Coronado and Gastonwood, Forest Hills, Preston Hollow.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

Map of Texas Education Agency Ratings for DFW Area Schools

John Jones (Texas Urban Living Real Estate) — Tue, 14 Sep 2010 15:37:54 -0400

The Dallas Morning News recently released an interactive map of TEA ratings for school districts in the DFW area.

The ratings are based on 2010 test performances on the TAKS (Texas Assessment of Knowledge and Skills) tests, as well as school completion and dropout rates for the 2009 school year.

Each district is rated either Exemplary, Recognized, Acceptable or Unacceptable.

In addition to showing these color-coded rankings for each district, users can select each district from a dropdown list to see the individual rankings for each school in each district.

Interactive map of TEA Ratings for DFW Area Schools.

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

Home Buyer Tax Credit Extended for Qualified Veterans and Servicemembers

John Jones (Texas Urban Living Real Estate) — Fri, 04 Feb 2011 18:13:59 -0500

Good news for Dallas Fort Worth area veterans and military servicemembers who would like to purchase a home and receive the $8,000 tax credit for first-time homebuyers or the $6,500 tax credit for move-up buyers!

Qualified military personnel, foreign service workers and members of the intelligence community have until April 30, 2011 to secure an executed purchase contract and until June 30, 2011 to close the transaction.

This special program for veterans and military servicemembers was signed into law as part of the original extension and expansion of the homebuyer tax credit that went into effect on November 6, 2009.

DEFINITION OF QUALIFIED SERVICEMEMBERS
Per the legislation, a "qualified servicemember" means a uniformed servicemember of the military, a member of the U.S. foreign service or the intelligence community who was called to an extended period of oveerseas service for at least 90 days between December 1, 2008 and May 1, 2010. (For those that were not called for extended service, the deadline to execute a purchase contract was April 30, 2010 and the closing deadline is September 30, 2010.)

A member of the military, foreign service or intelligence community who was called for extended duty of at least 90 days but was unable to complete this term due to medical reasons MAY still qualify for the extended deadline.

Consult with a licensed tax accountant to make sure you qualify. I am not an attorney or a CPA and cannot give legal or tax advice!

ADDITIONAL QUALIFICATIONS FOR THE VETERANS $8,000 FIRST TIME HOMEBUYER TAX CREDIT:

The amount of the tax credit is the LESSER of $8,000 or 10% of the purchase price of the home. For example, a qualified individual who purchases a home for $68,000 will receive a tax credit of $6,800, not the full $8,000.
The home purchased must be a primary residence.
The income limit to qualify for the tax credit is $125,000 for single filers and $225,000 for married filers. Single and married filers who make more than this may qualify for a reduced tax credit amount.
Home must be priced at $800,000 or less.
Must be a first-time homebuyer (meaning cannot have owned a home in the last three years).
Non-first time homebuyers may qualify for the move-up tax credit of $6,500.

QUALIFIED VETERANS: This opportunity to get the $8,000 tax credit will end on April 30th. All qualified veterans must have a home under written contract by April 30th but do not have to close the transaction until June 30, 2011.

For more information or to set up a customized home search, please call John Jones at (972) 978-3553.

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

Air Conditioning and Heating Repair Tips from Tim Bob | Dallas and Plano Heating and Air Conditioning Repair Blog

John Jones (Texas Urban Living Real Estate) — Mon, 24 Jan 2011 17:37:23 -0500

Here's another guest blog from Tim Bob, the HVAC tech that I recommend to all of my clients.

AC and Heater repairs are best left for the professionals

Without proper tools or training, repairs end up with disappointing reports. Many repairs we are called out on are to correct improperly made repairs.

Here is a summary of common repairs and stumbling blocks a home owner may encounter.

Replacing motors. The propellers or blades will be bent if a specialty propeller puller is not used. The unbalanced prop or wheel will eventually ruin the bearings on the new motor.
All Furnaces. Many failed parts are parts that monitor the safe operation of the heat producing parts. The cause of the failed safety part must be identified.
Gas furnaces. Computer boards are now used on most new furnaces and the need of manufacture's information to properly diagnose their failure. Older furnaces, using a thermocouple are probably near the end of their lives. A homeowner will not recognize a potential deadly crack in the heat exchanger or the fire danger of dirty burners. These old furnaces do not have the safety circuits that newer furnaces now have to protect you.
Electric furnaces. Heavy current conductors need to be recognized for loose connections. Many furnaces use as much power over 250 light bulbs! Most of the time, there is no way to turn the power off near the unit. Smoke could pour out of the unit before the home owner can get to the breaker panel.
Thermostat replacement- Many of my service calls are to correct problems caused by incorrect thermostat installations. Usually the problem is the wrong thermostat application for the HVAC system. Occasionally, other parts are then ruined. A thermostat set for "electric heat" probably is the wrong setting for an electric furnace. A technician knows why "gas heat" is the better option.
Heat pumps- everything is confusing about these. A thermostat replacement is even a challenge to the experienced technician. With up to three stages of heat, time delay settings and software settings, a wrong set-up will result in inefficient energy savings. Home depot sells single stage "heat pump" thermostats that simply are the wrong thermostat for most systems.
Working in the attic- It happens a lot. Falling or stepping through the ceiling. Ruins all your day.

Parts sold to home owners are sold at retail, the service company buys at wholesale and then sells at retail, allowing our profit. We are required to carry insurance and our license is subject to customer complaints. We guarantee our parts and labor. Labor rates may be high, but we have the tools, the manuals, and experience that allows us to work quickly.

Contact Tim Bob at 214-762-2598 for all your air conditioning and heating needs in Plano and Dallas.

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

Affordable, Professional Headshots for Dallas Area Real Estate Industry Professionals - November 10, 2010

John Jones (Texas Urban Living Real Estate) — Tue, 02 Nov 2010 16:51:21 -0400

Real estate industry professionals: Is it time for a new headshot?

If so, you'll want to take advantage of this opportunity to have your photo taken by one of Dallas' premier professional photographers for a substantially lower fee than he normally charges clients.

On Wednesday, November 10, Jason Janik will offer headshots to local area real estate industry professionals for $50. The price will include 15 minutes of time in his private studio located at his home in Lake Highlands (Audelia/Northwest Highway area).

Normally Jason charges anywhere from a few hundred on up to over a thousand dollars for corporate headshots. But for one day only, he's offering this special price for local real estate professionals.

Here are some samples of some work he's done with previous clients:

To register for this event, please contact Jason at 214-535-1062 or email him at the link provided on his website at www.janikphoto.com

OR you can fill out the quick registration form on my website and he will call and/or email you a conformation.

And here's a link to his blog post about the one day headshot event on November 10, 2010

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

Dallas Cystic Fibrosis Benefit Concert Saturday November 6, 2010

John Jones (Texas Urban Living Real Estate) — Tue, 02 Nov 2010 15:12:00 -0400

The annual Cystic Fibrosis benefit concert of the CF Concert Series will be held on Saturday November 6, 2010 at the Granada Theater on Greenville Avenue in Dallas, TX.

The CF Concert Series was started in 2007 as a small effort organized by a few local music fans with a personal interest in helping to find better treatments and a cure for Cystic Fibrosis. Cystic fibrosis, or CF, is a life‐threatening genetic disease affecting approximately 70,000 children and adults. However, there is no government funding for CF research. All research and progress towards finding better treatments and a cure rely on funding from community events and fundraisers.

The series, held annually at the historic Granada Theater in Dallas, TX, aims to raise money for Cystic Fibrosis with an emphasis on adult research. Since the first concert in 2007, the CFCS and its participants, such as Rhett Miller of the Old 97's, have helped to raise almost $100,000 towards the cause.

The CF Concert Series is put on by the Breathe Easy Foundation (BEF). The goal of both the CFCS and the Breathe Easy Foundation is to help raise awareness of the disease and funding for the great strides being made towards CF research. All BEF proceeds go to the Cystic Fibrosis Foundation.

This year's line-up of performers includes Rhett Miller, solo artist and front man for the alt-country band The Old 97′s, Ben Kweller, successful solo artist and former front man for Radish, as well as John Pedigo and Taylor Young of The O's. Gordon Keith, local TV personality and host of the morning drive-show on KTCK SportsRadio, 1310 AM "The Ticket" will be the emcee.

A silent auction will also be held with all proceeds benefitting the CF Foundation.

Home Page for CF Concert Series

Purchase Tickets

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

Facebook Like Button Plugin for Wordpress

John Jones (Texas Urban Living Real Estate) — Fri, 01 Oct 2010 12:48:39 -0400

Good news for real estate industry professionals that have a Wordpress blog! There is now a working plugin that allows the Facebook like button to be easily installed within a Wordpress blog (Wordpress.org) on pages and blog posts.

This Facebook Like Button Plugin for Wordpress is available for free download.

There are some additional Facebook Like Button plugins avaiable, but based on the feedback and rankings, this one seems to be the most reliable.

I intalled it on my DFW Real Estate News site this morning and it seems to be working fine. It appears that the installation installed the like button on all previous pages, but I had to go back and update each previous blog post in order to make it appear on those. **UPDATE** The plugin appears to have retroactively added the button to all of my previous posts. I guess the server needed another cup of coffee :)

Either way, I'm just happy to have it now. So add the Facebook Like Button to your Wordpress blog today with this handy plugin!

The plugin requires Wordpress 2.9 or higher.

LINKS:

Read About and Download Facebook Like Button Plugin for Wordpress

Installation Instructions

FAQ

Screenshots

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

Some Myths Related to Air Conditioning From Tim Bob / North Dallas HVAC Service

John Jones (Texas Urban Living Real Estate) — Wed, 29 Sep 2010 18:57:25 -0400

From time to time, I have Tim Bob from BT Products send me a guest blog. I have referred Tim Bob to many of my clients for HVAC service and repair. He has also done a fantastic job of servicing the HVAC unit in my own home. Tim Bob's number is 214-762-2598 and he services the entire DFW area, including North Dallas and Plano.

This time, he wrote about some myths and fallacies related to air conditioning, including the funny myth that criminals sometimes escape through air ducts.

Enjoy!

_________

Since the seasons are changing, now is the time to discuss some fallacies related to air conditioning.

•- Misting systems that precool your outside AC condensing unit.

They do work only if the water is pure. Tap water contains minerals that build up a layer of calcium on your AC coil. This degrades the efficiency of the AC and cannot be cleaned off. This is the same build-up you get on glass ware called water spots. Over time, the build-up can get quite thick and ruins your AC condenser unit.

•- Room air coolers that use "glacier blocks" that you chill in your house refrigerator.

The manufacture claims you can save money by raising your AC thermostat setting and comfortably cool your bedroom. First, it won't cool long and won't cool anything more than the area few feet in front of it. This appliance blows air across a "glacier" block of ice. Second, one must prechill these glacier blocks of ice in the refrigerator. This results in additional heat added to your kitchen equal to the heat removed by the Room air coolers. No help to your central AC system here.

•- Turning the AC thermostat down to 55 degrees to speed up the cooling of your house.

The AC unit is not like a gas pedal on a car. It does not work harder the farther you push it. It is more like an on/off switch. Either it runs or stops running when it cools the room. Very, very few house AC systems do work harder the further you push the thermostat down. Very few expensive systems.

•- Crawling through ductwork is an easy way for a crook to escape.

The movies make this look easy. First, the layer of dust you inhale would keep you sneezing for a week. Ductwork is filthy. Second, most ductwork is too small to fit through. The ducts have sharp turns that you must negotiate, and its pitch black inside. The points of sharp screws would tear you up. Thirdly, ductwork is not very strong and would bend and fall apart with the weight of an escapee inside. Between the sneezing and the banging of crawling through ductwork, it would not be a quiet escape.

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

Tarrant County Three Year Real Estate Market Report for Single Family Homes

John Jones (Texas Urban Living Real Estate) — Mon, 13 Sep 2010 18:46:43 -0400

TARRANT COUNTY, TX - Second Quarter of 2007 through the second quarter of 2010 - Single Family Housing ONLY

MEDIAN SALES PRICE

Tarrant County Real Estate has shown a very slight increase in the median sales price of single family homes over the last three years. Overall, the median price of homes in Tarrant County has remained remarkably stable compared to many areas of the country which experienced very high declines after a period of unsustainable gains. The affordability of real estate in Tarrant County is a significant factor in the good performance of real estate values in the single family home sector.

Tarrant County Median Sales Price Q2 2007 - $137,500
Tarrant County Median Sales Price Q2 2010 - $137,567
Change: $67 GAIN
Percentage Change - 0%

MEDIAN SALES PRICE COMPARED TO MEDIAN LIST PRICE

The median sales price vs median list price of homes is significant because it shows how much homes are selling for compared to how much sellers are asking. The median list price is for all homes listed on the market, not just homes that have sold, so the difference in the list price versus the sales price does not represent the amount sellers are willing to negotiate their prices. The median list price shows to be much higher because homes in the higher pricing tiers are taking much longer to sell, especially in this economy.

Tarrant County Median Sales Price Versus Median List Price Chart

This data shows that the median list price of homes has increased by 3% over the last three years while the median sales price has only increased by a small margin of $67. The higher median list price could perhaps be a sign that some sellers are asking more for their homes in a market where they anticipate buyers will offer less.

AVERAGE DAYS ON MARKET
The average number of days that homes sat on the market before selling in Tarrant County has actually declined slightly over the last three years. The number of days on the market begins to calculate once a home is listed and stops counting once a contract is fully executed between a buyer and a seller. Because of this, it's certainly possible that it actually took a bit longer to physically close the transactions because of many factors, mainly the fact that many mortgage transactions are taking longer to close in today's market.

Tarrant County Real Estate Days On Market Chart

Tarrant County Average Days On Market Q2 2007: 69 Days
Tarrant County Average Days On Market Q2 2010: 68 Days
Change: -1 Day
Percentage Change: -1.5%

SUPPLY AND DEMAND

A good test of any real estate market is comparing the supply of homes for sale with the actual number of properties that are selling. Although the number of sales in Tarrant County has decreased by a large percentage, the number of homes for sale has actually outpaced the decrease in demand, which helps to balance out the market and also helps to keep prices stable.

Tarrant County Real Estate Supply and Demand Chart

Tarrant County homes for sale Q2 2007: 24,100
Tarrant County homes for sale Q2 2010: 18,327
Percentage Difference: -24%
Tarrant County sold homes Q2 2007: 7,064
Tarrant County sold homes Q2 2010: 5,583
Percentage Difference: -21%

So while the number of home sales in Tarrant County has declined by 21%, the number of homes for sale has actually declined by 24% which means the supply of homes for sale has decreased by 3% more than the demand for homes has declined in Tarrant County. If the supply of homes for sale had increased relative to the demand for homes, this would likely have resulted in lower prices.

EXPIRED LISTINGS
Expired listings occur when the term of the agreement between the listing broker and the seller expires. There is no "standard" for how long listing agreements must be, but many listing brokers will ask for longer terms when the market is soft.

Tarrant County Real Estate Expired Listings Chart

Tarrant County Expired Listings Q2 2007: 4,913
Tarrant County Expired Listings Q2 2010: 3,283
Change: -1,630
Percentage change: -33%

While the volume of listings has declined in Tarrant County, so has the number of expired listings.

NEW LISTINGS BY QUARTER

The number of new listings by quarter shows how many new sellers are listing their homes on the market versus just the number of active listings. As the economy has weakened, more

Tarrant County Real Estate New Listings By Quarter Chart

Tarrant County New Listings Q2 2007: 12,410
Tarrant County New Listings Q2 2010: 9,319
Change: -3,091
Percentage Change: -25%

The number of new listings in Tarrant County has declined significantly over the last three years. When compared to the number of listings by quarter (all listings, not just new), the percentage decline is almost the same. The number of new listings has declined for a number of reasons, which include the fact that many homeowners may be underwater or simply don't have enough equity to sell their homes, plus the fact that many people who purchased homes during the middle of the decade may no longer qualify for the tighter mortgage guidelines in today's market. There's little question that many people will be owning their homes for a longer period of time than in previous years.

SOLD PROPERTIES BY QUARTER

The number of actual home sales has also declined by a significant number over the last three years, but surprisingly, this has not resulted in a decline in the median home sales price. This is likely because the decrease in the supply of homes on the market has kept up pace with the decrease in demand as shown in the previous chart.

Tarrant County Real Estate Sold Properties by Quarter

Tarrant County Sold Properties Q2 2007: 7,064
Tarrant County Sold Properties Q2 2010: 5,583
Change: -1,481
Percentage Change: -21%

The number of sold properties has declined by 21%, which is very close to the reduction in the number of active listings and new listings as well. The fact that the supply of homes on the market has declined by an amount similar to the decrease in demand has helped keep prices in Tarrant County stable.

PENDING HOME SALES

Pending home sales are the number of actual executed contracts where the buyer has completed their option period. Not all pending home sales will result in closed transactions since fallouts may occur for many reasons.

Tarrant County Pending Home Sales Q2 2007: 7,002

Tarrant County Pending Home Sales Q2 2010: 4,971

Change: -2,031

Percentage Change: -29%

Pending home sales have declined by 29% over the last three years, which is in line with the number of sold properties. Pending home sales tend to lag behind closed transactions by 30-60 days, depending on many factors. The longer it takes to close transactions, the longer the lagging period will be. One surprising piece of this data is the fact that pending home sales in the second quarter of 2010 were basically the same as the first quarter of 2010, but the number of closed transactions in the second quarter was much higher than the first quarter. This likely shows that many people went under contract in the first quarter of 2010 but didn't close until the second quarter because of the homebuyer tax credits.

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

Freddie Mac Reports 30 Year Mortgage Rates Lowest Since 1971

John Jones (Texas Urban Living Real Estate) — Wed, 01 Sep 2010 16:11:11 -0400

Over the last several months, mortgage rates have continued to decline thanks to institutional investors seeking the safe haven of bonds over stocks in this uncertain economy. When investors buy mortgage bonds, this tends to lower the rates.

As of last Thursday, August 26, Freddie Mac reported the lowest rates since they began keeping records in 1971 for 30 year fixed rates and 1991 for 15 year fixed rates. The average rate on a 30 year fixed rate mortgage was reported to be 4.36%. The average on 15 year fixed mortgages was reported to be 3.86%.

These rates are averages compiled from their weekly mortgage rate survey of lenders nationwide. Actual rates that borrowers receive vary according to a variety of factors, including credit score, loan-to-value ratio, origination charge and other risk factors. Freddie Mac does not dictate rates; they purchase mortgages from banks to free up capital for additional investment.

To put these rates in perspective, here's a chart of the average rates reported by Freddie Mac since the beginning of 2010:

So how long will this cheap money last? It's hard to say, but as long as uncertainty about solid growth and recovery persists, institutional investors may continue to prefer the safety of bonds over the risk of stocks. But predicting the market is tricky business, and a number of factors could affect this trend over the coming months and years.

Despite the weakness in the housing market, many homeowners are taking advantage of the low rates to lower their mortgage payments. In fact, refinancing currently makes up over 82% of all new loan activity in the market.

In the year 2000, Freddie Mac reported 30 year fixed mortgage rates reached as high as 8.52%. They once reached a high of 18.45% during the high inflation period of the early 1980s. During most of the 2000s, they've hovered between the mid 5% and low 7% range.

Once the financial crisis began to unfold in late 2008, the government began an unprecedented program to purchase mortgage-backed securities with the goal of keeping mortgage rates as low as possible. In December of 2008, Freddie Mac reported the average mortgage rate on a 30 year mortgage had dropped to 5.33%. And although this program ended earlier this year, mortgage rates have remained at or near historical lows because of continued investor demand for safe-haven investments. Fannie Mae and Freddie Mac bonds now carry an explicit guarantee, which essentially means they carry the same guarantee as US Treasury bonds. (It also means that taxpayers are on the hook for the losses).

Here are some examples of mortgage payments at various interest rates:

Monthly principal and interest payment on a 30 year fixed rate mortgage ($100,000 loan):

4%- $477.42

5%- $536.82

6%- $599.55

7%- $665.30

8%- $733.76

9%- $804.62

Monthly principal and interest payment on a 15 year fixed rate mortgage ($100,000 loan):

4%- $739.69

5%- $790.79

6%- $843.86

7%- $898.83

8%- $955.65

9%- $1,014.27

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

Goodwill 50% Off Sale in the Dallas Area This Weekend!

John Jones (Texas Urban Living Real Estate) — Fri, 27 Aug 2010 19:13:46 -0400

Goodwill is having their semi-annual 50% off sale at all Dallas area stores this Saturday August 28, 2010. Beginning at 9AM, shoppers will be able to save 50% on a variety of products, including all clothing items such as shoes, purses, hats, ties and belts. All books will be marked down 50% as well, as will some additional miscellaneous items throughout the store.

In addition to these items, Goodwill always has a good selection of many other products, such as electronics, furniture and assorted housewares.

Goodwill holds this 50% off sale twice per year -at the end of summer to make room for winter inventory and again in winter to make room for summer merchandise. According to the store managers I spoke with today, they plan to start stocking winter items within the next week or two.

So take a few minutes to stop by your local Dallas area Goodwill store this Saturday. And before stopping by, consider cleaning out your closet and donating any unwanted items to take advantage of possible income tax deductions!

Here's a map of all stores participating in the 50% off sale this Saturday, August 28, 2010. Click the blue marker for the address and phone number for each store.

View Dallas Goodwill Stores in a larger map

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

8808 Reva St. Dallas, TX - Great Opportunity for Investors or Cash/Conventional Buyers

John Jones (Texas Urban Living Real Estate) — Wed, 25 Aug 2010 16:28:26 -0400

Here's a great opportunity for investors or other buyers with cash or conventional financing looking to purchase a home in the Pleasant Grove area of Dallas.

8808 Reva Street has a wonderful floorplan and some great potential for a buyer willing to put in some TLC. The home has some foundation issues, but will be a great home for the right buyer! The floorplan is probably the best feature of this home. With three bedrooms, two full baths and two large living areas, this home has tons of possibilities.

The home has a very spacious back yard with a covered patio and chain link fence.

The home will not qualify for FHA or VA financing and the owners will make no repairs, so cash or conventional buyers are welcome to submit offers. The two large living areas are perhaps the best feature of this home. The second living area close to the kitchen has enough space for a dining area, plus the kitchen itself has a separate breakfast area.

Specifics: List Price: $59,900 - JUST REDUCED! Square Feet (Per Tax Rolls): 1590 Bedrooms: 3 Bathrooms: 2 Full Living Areas: 2 - Part of second living area can be used as formal dining. The kitchen also has a breakfast area. Garage: 2 Car Attached For more information, please call John Jones at 972-978-3553

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

HUD Homes for $100 Down | Dallas Fort Worth Area Home Buyer Information

John Jones (Texas Urban Living Real Estate) — Mon, 26 Jul 2010 22:02:33 -0400

HUD has continued to promote their HUD $100 down program for home buyers in the Dallas Fort Worth area. The program is a great opportunity for home buyers to get into a HUD Home without having to pay the normal 3.5% down payment that is required for FHA loans.

HOW DOES THE HUD $100 DOWN PROGRAM WORK?

There are some specific guidelines that have to be followed:

The buyer must obtain FHA financing in order to get the HUD $100 Down.
The buyer must intend to occupy the property. HUD does not allow the $100 Down program for investors or for buyers that will not otherwise occupy the home.
The buyer must submit a minimum bid for at least the list price. Offers submitted below the list price do not qualify for the HUD $100 Down Program.
Buyers may bid more than the appraised amount of the property, but must pay the difference between that and the offer price, plus the $100 in cash at closing.
The program follows all of the other general requirements of purchasing a HUD Home.

Home buyers interested in purchasing a HUD home should consider working with professionals that have prior experience with HUD Homes because of the complexity of the transactions. HUD has very specific guidelines regarding their bidding process, the earnest money, home inspections, the closing process and situations where the property may need additional repairs.

Buyers who are interested in bidding on a HUD Home and taking advantage of the HUD $100 Down program can contact me for a list of qualified HUD Homes in their area. I have past experience with this program on the lending side and also as a full time Realtor(R). Although I am no longer a licensed loan officer, I can help you find a lender that is experienced with HUD transactions.

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WHAT IS A HUD HOME?

A HUD HOME is a foreclosure where the previous owner had an FHA loan and the lender negotiated with HUD to take over liquidation of the property. It is essentially no different than any other foreclosure, except HUD allows certain incentives, such as the HUD $100 DOWN PROGRAM, since they are both the seller and the loan guarantor in cases where the buyer is obtaining FHA financing.

HOW MUCH ARE CLOSING COSTS WHEN BUYING A HUD HOME?

The closing costs vary depending on the type of loan the buyer obtains, the total origination charges a buyer chooses to pay relative to their interest rate, as well as other factors determined by how their loan is structured. Other prepaid items, such as insurance and taxes, will affect a buyer's total out of pocket costs at closing. Only a qualified loan officer can answer this question on an individual basis. Contact me and I can put you in touch with a lender that's experienced with HUD homes.

HOW LONG DOES IT TAKE TO CLOSE ON A HUD HOME?

HUD's contract automatically allows for up to 45 days from the time the contract is executed. In my experience, buyers should expect closing to take up to this long in most cases. HUD's closing agent typically requires documents as much as eight business days in advance of the closing date. This alone means that closings will typically take at least two weeks longer than non-foreclosure transactions. With all the new Federal rules in place that require waiting periods on loans, this can add up to several extra days.

In the event a closing is delayed past the normal 45 day closing window, HUD may allow for an extension.

I'VE HEARD THAT ALL HUD HOMES ARE IN POOR CONDITION. IS THIS TRUE?

Not at all, although some are definitely in various states of disrepair. Unfortunately, some foreclosures are in this state because the previous owners could not afford to maintain the home. And in some cases, home owners who knew their home was going to be foreclosed may have vandalized it or stripped the home of appliances and other loose items, such as ceiling fans and light fixtures, before they moved out. The condition of the home, as is the case with most foreclosures, is often factored into the asking price. In some cases, the discount on the sales price over current market value may be more than enough to cover needed repairs, improvements and upgrades and still leave the buyer with some equity. Every situation is different, and the market value of homes in all areas is always a moving target.

DOES HUD ALLOW FOR A HOME INSPECTION?

Yes. HUD has a specific policy regarding home inspections for owner occupant purchasers. In order to obtain an inspection, a buyer must request this in writing and have their agent submit to HUD's asset manager within 15 days of an accepted offer. The buyer is also responsible for turning on all utilities necessary to complete the home inspection.

In general, HUD will either allow items in need of repair to be escrowed into an FHA loan, or they may discount the price of the home in some situations. However, they will not allow buyers to escrow items that have been marked as "deficient" on the property condition report unless an escrow amount for these items was already determined and included as part of the list price. So the bottom line is that buyers should read over the property condition report and make sure they are OK with items marked as "deficient" because there is usually no way to go back and ask for these items to be fixed after the fact.

In many cases, HUD will have already alotted for a repair escrow on certain items that the property condition report has marked as in need of repair. For example, if HUDs property condition report shows a faulty front door, they may have already stated in the bid that they will allow a repair escrow of $500 to cover fixing the door.

CAN I PURCHASE A HUD HOME MYSELF WITHOUT USING A REAL ESTATE AGENT OR BROKER?

There is no way purchase or even bid on a HUD Home without using the services of a licensed real estate agent or broker. Buyers who wish to purchase a HUD home should storngly consider working with an agent that is experienced with HUDs because the transaction is somewhat different from one where the seller is an individual. HUD also has very specific guidelines and deadlines for not only the contract, but certain other addenda, the home inspection process, requesting repairs, receipt of earnest money by the closing agent and also the

WILL I HAVE TO PAY MONEY OUT OF POCKET TO USE THE SERVICES OF A REAL ESTATE AGENT OR BROKER WHEN BUYING A HUD HOME?

NO. The agent commission is paid by HUD directly to the real estate broker. The buyer pays nothing out of pocket for this.

WHAT HAPPENS IF THE HOME INSPECTOR DISCOVERS A PROBLEM THAT WAS NOT DISCLOSED ON HUD'S PROPERTY CONDITION REPORT?

In these cases, a buyer can petition HUD to allow for a repair escrow if they are obtaining FHA financing. The buyer's lender must also agree to this as well and they must also submit a written request to HUD. HUD will then assess the report and decide whether or not to allow the escrow. In cases where the total amount of repairs are less than $5,000, HUD will allow this to be structured as a "203B with escrow" loan. In this case, the work is compelted after closing and both the buyer and the contractor are issued a check. The buyer typically endorses the check and gives it to the contractor to cash as payment for their services.

However, in cases where the total amount of repairs exceed $5,000, the loan must be restructured into a 203K loan. A 203K is an FHA loan with a repair escrow of over $5,000. The 203K loan process is a bit more complex than a simple 203B with a repair escrow. Also, only a handful of lenders in the Dallas Fort Worth area handle 203K loans.

IN EVERY CASE, I recommend buyers conduct a full home inspection. My experience has been that the property condition report sometimes overlooks certain items that may be in need of repair. DO NOT EVER CONSIDER HUD'S PROPERTY CONDITION REPORT TO BE THE SAME THING AS A HOME INSPECTION! HUD CLEARLY STATES ON THESE REPORTS THAT THEY ARE NOT HOME INSPECTIONS AND ARE MERELY MEANT TO SERVE AS A GENERAL GUIDE TO THE OVERALL CONDITION. THEY ARE NOT NEARLY AS THOROUGH AS A HOME INSPECTION.

I have experienced some cases where a property condition report missed items that were defective - the most recent case was a HUD home that had TWO defective HVAC units that the property condition report stated were functioning normally. In this case, we were able to successfully petition HUD and the lender for a repair escrow to pay for a new HVAC, which was escrowed and installed after closing. So in the end, it all worked out. But if the buyer had neglected to perform a home inspection, they would have had to come out of pocket with several thousand dollars in expensive repairs.

Contact me at (972) 978-3553 or email me for more information on HUD homes and the HUD $100 Down Program for Dallas / Fort Worth area home buyers.

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

Great 4 Bedroom 2.5 Bath Home in Mesquite, TX with INCREDIBLE UPDATES Including Granite Kitchen Counters and Updated Master Bathroom! | 501 Conger in Mesquite, TX

John Jones (Texas Urban Living Real Estate) — Mon, 19 Jul 2010 22:38:58 -0400

If you're looking for a great four bedroom home with two and a half bathrooms in the Parkview subdivision of Mesquite, TX, you will be amazed at the updates in the home at 501 Conger Drive.

This home features two stories with the master bedroom located downstairs and all three additional bedrooms upstairs. The home has high ceilings in the master and the entryway, and the floorplan makes for a very efficient use of all 2,359 square feet of space.

The owners have recently completed some amazing interior AND exterior updates, which include a fabulous kitchen remodel with granite countertops, updated HVAC units in the upstairs and downstairs (2010), roof (2010), dishwasher, exterior paint, backyard fence and master bathroom shower and tub!

Both the front yard and back yard have nice landscaping with updated landscaping in the front yard. The large, mature trees in the front yard provide plenty of shade from the summer heat! The backyard is very large and the fence was recently updated by the owners.

The backyard also has a storage buidling to keep lawn equipment and other items out of your way in the garage!

The best feature of this home is a toss-up between the newly-remodeled kitchen with granite countertops and the amazing master bathroom with separate shower and tub. Why settle for less than all of the latest and greatest upgrades? Look at the amazing detail of the granite countertops, cabinets, tile backsplash and updated appliances in the remodeled kitchen!

Here is the kitchen from a couple of other angles as well. The kitchen has a large breakfast area and is also easily accessible from the separate dining area.

The master bathroom has also recently undergone a major transformation with a new shower and separate tub. In addition, the master bathroom has a large, walk-in closet with two separate doors that allows for many ways to arrange clothes and other accessories.

The master bathroom is truly amazing and has more than enough room for two.

With two large living areas, one of which could easily double as a study, you'll have plenty of room for furniture, computers and other accessories.

If a large master bedroom is on your list of "must haves", you need to see this one to believe all the space!

And if a grand entrance is a plus, you'll be amazed when you walk through the front door. Also, the fireplace in the living area is a cozy sight even in the dead of summer!

List of recent updates to the home accoring to the owners:

Roof (2010)
Back yard fence (2010)
HVAC (air conditioning and heating) units in the upstairs and downstairs (2010)
Kitchen remodeled with granite countertops and tile backsplash (2010)
Master bathroom - updated shower and tub with tile and new glass enclosure.
Dishwasher

Home details and specifics:

Four total bedrooms Three upstairs and the master is downstairs.
Two and a half bathrooms. One and a half baths downstairs and one full bath upstairs.
Two car, attached, rear entry garage.
Two living areas. One could be used as a study.
Breakfast area and separate dining area as well.
2,358 square feet per the tax rolls.
NO HOA DUES!
Large back yard with patio area.
Home has laminate wood floors, ceramic tile and carpet throughout.
Mesquite ISD. According to the Mesquite ISD website, the schools are: Shaw Elementary, Kimbrough Middle and Poteet High School.
Don't forget about all of the updates!

This home is currently listed for $150,000.

Buyers, ask yourself if you really want to spend countless hours of your time and thousands of your dollars updating and remodeling a home yourself....or if you'd rather buy a home with all the latest and greatest updates ready and waiting for you to move in and call home!

To schedule a viewing of 501 Conger in Mesquite, TX, call me directly at (972) 978-3553!

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *

Greenville Avenue Pizza Company Dallas, TX | Fresh Pizza Open LATE - Until 4AM

John Jones (Texas Urban Living Real Estate) — Thu, 08 Jul 2010 19:27:34 -0400

If you're like these guys, you're probably wondering where to get some fresh pizza late at night in Dallas, TX.

One of the things I love about East Dallas is the fact that I can walk down the street and get fresh pizza at 2 o'clock in the morning....on a Tuesday.

Not that I ever do that (very often)....but it's there if I happen to want some. Where would this place be? On lower Greenville Avenue (1923 Greenville) right next to the Service Bar.

Enter the Greenville Avenue Pizza Company. Going on three years old, the pizza joint was created by brothers Sammy and Chris. These guys take real pride in the quality of their ingredients, service and having a good quality staff that's always friendly. I got to know them in the first couple of months they were open and have come to love the place as I'm sure many others in the Dallas area have as well.

So the pizza is great. That's a given. But what about other items on the menu?

I'd highly recommend just about anything. The italian sub, hand-cut potato chips and mini burgers are all favorites of mine.

They've also got some other italian specialties, such as calzones and meatball subs.

So the next time you're in East Dallas and are hungry for the best pizza, check out Greenville Avenue Pizza Company.

PHONE # - (214) 826-5404

HOURS OF OPERATION:

Tues, Wed, Thurs, Sun:

11:30AM to 2AM

Fri and Sat: Open till 4AM!

And yes, they deliver too!

LINKS:

Greenville Avenue Pizza Co Website

John Jones, Realtor(R)

JR Premier Properties

www.dfwhomefinder.info

18170 Dallas Parkway, Suite 303

Dallas, TX 75287

Dallas, TX Real Estate and surrounding areas of Richardson, Plano, Addison, Frisco, Carrollton, Farmers Branch, Garland, Allen and Irving.

* THIS ARTICLE WAS ORIGINALLY PUBLISHED AT http://www.dfwrealestatenews.com *