Displaying blog entries 211-220 of 254
The newest report shows that existing home sales are at their highest level for 2014! Check out the latest report from the National Association of Realtors.
Saturday, November 8, 2014 at 10 am.
Frisco will be hosting it's annual Community Parade. Attractions include Frisco Police and Fire vehicles, Frisco fire clowns, homecoming/forthcoming royalty of high schools, team mascots, representatives of Frisco’s professional sports teams, and floats and marchers from various civic and youth groups. Come out and enjoy everything the parade has to offer! More details can be found here.
The new Dallas Cowboys World Headquarters and Training Facility, set to open in Frisco in 2016, will allow Frisco ISD football players to practice right alongside America's team.
The driving force for Jerry Jones' plan is a marriage between America's team and Texas high school football. The Frisco Independent School District will also have full run of the stadium when the Cowboys aren't in town. Read more here...
Mortgage Rates have just dropped! Now is the time to get into that new home. Call me today!
Interest in Frisco has gone international! Dubai-based, Invest Group Overseas, has announced plans for a $700 Million new development at the corner of the Dallas North Tollway and the future extension of John Hickman Parkway in Frisco. The proposed project, The Gate, will be a 40.95 acre mixed use project just north of the new Dallas Cowboys Headquarters. Full details can be found here.
Here is a question that we do get from time to time.... from both Sellers & Buyers:
A Mortgage PreQualification or PreApproval - pretty much same thing... right?
..... So we asked Derek Altoonian of the Marcel Deitrich Team with WR Starkey for their explanation....
So… what’s the difference between a Pre-Approval versus a Pre-Qualification and why does it matter? In simply terms, the main difference between a pre-approval and a pre-qualification: income and asset documentation.
A pre-approval means that the loan officer has pulled credit, and collected enough information to fill out a mortgage application to form the details of the loan to purchase a new home. Additionally, a buyer has furnished paystubs, tax returns, and asset statements that show their viability to be approved for a mortgage. We have even gone so far as to underwrite the borrower without a potential address to make sure that there are no “surprises” when the borrower’s “dream home” is found.
A pre-qualification is when a loan officer pulls credit to see if the buyer has a qualifying credit score, and gathers enough information through a verbal interview with the buyer to fill out a mortgage application to see how much buying power your client has. There is often zero documentation with a pre-qualification.
We believe the Pre-Approval is, obviously, much more meaningful to sellers in today's marketplace. The more thorough analysis of the buyer’s income, assets and credit ensures the greatest chance that the pre-approved buyer will fund on the purchase.
- The Deitrich Team - 972-672-3246 - www.marceldeitrich.com - WR STARKEY MORTGAGE, LLP NMLSR#2146
Thank you to Marcel & Derek.
The "Take Away" - as a Buyer seeking every advantage in this low-inventory & competitive market, the extra work to achieve a Pre-Approval v/s a Pre-Approval may make all the difference to a savy Seller reviewing multiple offers!
- Christie Cannon
Thank you to our clients, colleagues, & staff!
Christie Cannon & our Team was once again chosen by D Magazine for the Best Real Estate Agent list in 2014. Christie Cannon & Kevin Cannon were also chosen as a D Magazine Top Residential Real Estate Producers.
A special Congratulations to Sandy Stewart - Lead Buyers Agent for the Christie Cannon Team - who was again chosen for this prestigious award!
We owe a special "thank you" to the Real Estate Community for their recognition, our staff and agents, & most importantly, to our clients for their confidence & support.
Christie Cannon's D Magazine article can be viewed here at D Magazine.
Not Likely Yet..........
I am often asked about the foreclosure market here in North Texas. A great tool in understanding how much change we have seen over the last 18-months in regards to foreclosures is CoreLogic's National Foreclosure Report. According to CoreLogic's May report, foreclosures are on 31 months of consecutive year-over-year decline. In simply terms, May 2014 represents a 37% decline compared to May 2013 - and 9.4% year-over-year decline. While it is true that TX is represented in the top 5 states of foreclosure volume in the last 12 months, we are also among the lowest by percentage of inventory. TX's foreclosure inventory represents .07% versus a national average of 1.7%.
Does this mean the "foreclosure" market is in permanent decline?.. I would be very hesitant to say such... many factors affect real estate, both in the short term & long term. And while in TX (a non-judicial foreclosure state) our inventory has moved quickly, there remains a "backlog" of inventory in many parts of the country. Likewise, in many areas, we can still see Mortgage Delinquency Rates (a "precursor" to foreclosures) remain higher than historical averages.
All that said, at least in the North TX market, a buyer offering that they "just want to look at foreclosures" may have (as we say in TX) some very slim pickins'.
- Christie Cannon
I just wanted to take a minute and to offer my sincere appreciation & gratitude to our clients - and my thanks to the staff & agents here at the Christie Cannon Team!
Once again this year Real Trends (a leadership in Real Estate data) named us - The Christie Cannon Team - among Real Trends Best Real Estate Agents in America!
Thank you again to all those who helped make our success possible!
- Christie Cannon
Displaying blog entries 211-220 of 254
