Many Buyers pay far more attention to Asking Price, and far less attention to interest rates.  Interest rate is a big contributor to Monthly Mortgage.  You may save 5 - 10 - 15 thousand dollars on asking price, this is a fraction of what you can save by finding a lower interest rate.  Interest rate unless re financed, will stay in your life for 15 or 30 or 35 years - The life of the mortgage.  5.5% vs 7.0% will save 50 thousand dollars or more, depending on the price of home.  Buyers please pay more or just as much attention to the interest rate as you pay to Asking Price.  Calculate Mortgage scenarios using calculators on sites like Dallas Texas Real Estate click "mortgage calculator" 11/29/2006

There have been many debates over the years about the differences of Limited Service agents compared to Full Service agents.  Many Limited Fee agents like to consider themselves Full Service,  but potato, tomato (I don't know how to type the different pronounciation)There is an article that I have included in my listing presentations since it came out last January. It's called In Search of a Better Deal: Effects of Limited Representation and Agent Experience. This is a great article and I thought I would quote some fabulous statistics it found.  The main reason I present this report to my sellers is because it actually took place in the Dallas/Ft. Worth market.  The study tracked over 55,000 residential transactions.  The overall average of the study showed the listings to be on the mar... 11/27/2006

A few weeks ago Jerold's sister and brother-in-law visited us from Orlando, FL. They are also native Texans, (West Texas that is) and when they come to visit they like to explore the new areas of the metroplex and go to old haunts that bring back fond memories. The single most important mission everyday was to find the best REAL Tex Mex and Bar-B-Q in Dallas and to visit the new and most interesting venues within the past year.  So... of course, being REALTORS, we are always in the know of new and exciting projects in our cities. Needless to say; we ate our way through Dallas.  Here is our 10 cent tour.Day 1- We started each day with a vary light breakfast, coffee and maybe a muffin, it was actually more important to get on the internet to find new places to eat and directions for the d... 11/24/2006

WASHINGTON - In the eyes of lenders, the new cars and other "concessions" that sellers are dangling in front of buyers have a dollar value that should be accounted for by the appraiser when determining the true market value of the property. If the appraiser does his work properly, the mortgage company may not be willing to lend as much as the buyer needs to make the deal work. And if that's the case, the buyer will have to come up with some extra cash he didn't expect he'd need, or walk away from the deal altogether.           click here for the rest of the articleBy Lew Sichelman, United Feature Syndicate  November 19, 2006 This is something we are seeing more of in the Dallas market, especially on high-end homes. There was a home listing in University Park, TX I saw the other day for ... 11/22/2006

There seems to be more of a focus on helping Teachers and those in the safety professions like Fire Fighter, Law Enforcement and Security Officers to purchase homes in our area and Texas.In the past the restrictions on where the home was located and the condition of the homes available has kept many from taking advantage of assistance programs.  But the two following organizations have programs that are a step in the right direction to add flexibility and quality homes giving those who deserve our thanks more choices.The first is the EHOP-Dallas organization which purchases properties in bulk from HUD in specific census blocks within the City of Dallas. The properties are existing single-family houses or condominiums. The properties are rehabilitated to reduce the risk of expensive home... 11/19/2006

According to a Wall Street Journal article, The Shifting Calculus of Buying a Home, home prices are falling in many cities all across the nation.  One other thing you might notice is that energy economy cities such as Dallas and Houston are not on the list.  Austin Texas is also not on the list and is not an energy economy but heavily laden with technology concerns of all types.  All three cities are growing very rapidly.   Still I wonder; is it really that bad on the coasts?  I doubt it - people tend to get pessimistic when they are not as productive and their business slows, regardless of the fact that they are exiting an extraordinarily hot market.  It seems to me a simple loss of perspective.  I think some Realtors get used to gravy training and forget how to wear out shoe leather ... 10/22/2006

There are many myths when it comes to your credit.  I'm not a mortgage person, so I don't know everything that goes into what can be ignored on a report and what can't, but I've learned quite a bit over the years and here are some of the important things to remember.If you have several credit cards, do NOT close your accounts, even if you're not using them.  Keeping these accounts open show a longer length of credit history which increases your scores.  Also, your credit score is based off what you're allowed to borrow verse what you are borrowing.  If you have several cards you don't use, you still have that money available to you, so you're showing a lower rate of debt, and that is good!If you have cards that have high balances, paying them completely off does NOT help you.  Your cred... 06/28/2006

Are you Pre-Qualified or are you Pre-Approved?  Do you know the difference?There are many ways to differentiate the difference between being pre-qualified and being pre-approved.  The easiest thing to ask yourself is, "Did I just make a phone call and talk with someone?  or Did I turn in any paperwork like bankstatements, W2s, and paycheck stubs?"If you said that you just made a phone call or maybe you just did a quick mini-loan application online, you're only pre-qualified.  In today's market, a pre-qualification gets you no where with a seller if you're trying to write a strong offer on a house.  Sellers want to see pre-approval letters.  They want to know that you're so serious in obtaining financing for their home that you've turned in all the necessary paperwork so the only things ... 06/26/2006