Frisco/Little Elm TX Real Estate | Homes For Sale in Frisco/Little Elm TX | Selling Your House in Frisco TX | Foreclosures in Frisco TX
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Keller Williams
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Winter is coming, and it’s going to be COLD!!!!! Don’t let that discourage you!!!
Find your next home in Carrollton and make sure it has a FIREPLACE included.
All these Carrollton Homes Have a FIREPLACE—BURN IT
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FRISCO AND LITTLE ELM FORECLOSURE HOMES |
| The current market conditions provide a lot of opportunity for those looking to attain a more cost effective property! Use this FREE information as a guide for your foreclosure purchase as well as a list of possible properties.
Below you will find just a few of the many available foreclosure homes in Frisco and Little Elm! Contact us to start your foreclosure home search. |
Search and save your favorite homes. Here you will find homes for sale in FRISCO under $200000
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Franzetti Real Estate | Keep it Moving
All signs are pointing to a real estate housing market recovery in 2012 according to recent reports. Rising rent rates, decreasing inventory, low mortgage rates, and an increase in jobs offer a glimpse of hope that both the housing market and economy as a whole are heading in the right direction. Existing and pending home sales reports for October and November 2011 indicate good signs for the new year and a positive U.S. Economic Outlook for 2012. According to NAR, pending homes sales rose again in November 2011 7.3% over October and 5.9% over November 2010. The November pending home sales increase reached the highest level in 19 months, due in part to affordability conditions including low interest rates. Pending homes sales are expected to continue in 2012. Pending Home Sales Rise in November
According to NAR, the possibility of an economic recession is looking less likely and a housing recovery is on the way. Despite external market variables, including the Eurozone, the U.S. housing market is showing strong signs of recovery. The latest pending homes sales index which reflects contract signings to purchase a home, rose more than 10% in October 2011 from the previous month and more than 9% from one year ago. There are still housing obstacles to overcome such as tight lending and high inventory issues, but banks are starting to loan and inventory is showing a consistent downward trend. The total number of homes listed for sale at the end of October was 3.3 million, down from 4.5 million in the middle of 2008. The month of October registered the lowest housing inventory since 2005. Good Signs for the 2012 Housing Market
Existing Home Sales increased in November 2011 and are expected to climb throughout 2012 according to NAR. Recent home sales data reports completed transactions, including single family, condominiums, and townhomes increased 4% to a seasonally annually adjusted rate of 4.42 milliion n November 2011 from 4.25 million in October, which is 12.2 percent above the 3.94 million pace in November 2010. Lawerence Yun, NAR chief economist, attributes the recent gain to people taking advantage of the buyer’s market and record low interest rates. Sales reached the highest mark in 10 months close to 34% above the cyclical low point in mid 2010. Lawrence Yun summarized current market conditions by saying, “A genuine sustained sales recovery appears to be developing”. Existing Home Sales Conintue to Climb in November
Another positive indicator of the increase in real estate market activity is online home searches. Realtor.com recently published results on the 10 most searched real estate markets online. The Dallas real estate market ranked #9 with a median home price of $194,900.
10 top-searched metro areas from November 2011 by Realtor.com:
1. Chicago – Median list price: $192,900
2. Detroit, Mich. – Median list price: $84,900
3. Los Angeles-Long Beach, Calif. – Median list price: $329,000
4. Phoenix-Mesa, Ariz. – Median list price: $164,700
5. Atlanta – Median list price: $156,900
6. Philadelphia, Pa.-N.J. – Median list price: $229,900
7. Tampa-St. Petersburg-Clearwater, Fla. – Median list price: $144,200
8. Las Vegas – Median list price: $122,000
9. Dallas – Median list price: $194,900
10. Riverside-San Bernardino, Calif. – Median list price: $199,000
Buyers market is still in full effect…Are you ready to find your next home?????
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Franzetti Real Estate | Serving all of North Dallas
It’s finally spring, I think. This year I’m doing things a bit different. I’m taking a new look at how I can do all my old tasks in a “greener” way. If we each continue to make new eco-friendly choices we can do our part to help make our world a better place.
So here are my top five eco-friendly things to do this spring:
For starters just do one task in an eco-friendly way and then pass this list on to a friend and encourage her to do the same. We can create a better planet one step at a time.
The combination of low prices, cheap mortgages, and a slowly improving job market should gradually entice buyers back to the market, setting the stage for prices to stabilize.
Wildcards: Foreclosures. If the investigations into robo-signed seizure documents and other issues turn up more problems for banks, foreclosures could be halted indefinitely. That would prop up prices in the short run but weigh them down over the long run.
Jobs. Housing demand could rise if the labor market picks up faster than expected. In that case, prices would firm up earlier in the year.
What to Watch: Signs of an improving market: three straight months of rising sales and a decreasing inventory of homes (a six-month supply is considered healthy; today it’s 11 months). A local agent or realtor’s association can supply you with that data.
Action Plan: Buyers. Don’t try to time the market perfectly. Even if prices fall a bit more in your area, mortgage rates could rise later in the year, offsetting the drop. Initially bid about 10% below what comparable homes have sold for over the past three months; go even lower if the area is rife with foreclosures.
By contrast, if well-priced houses in your desired area are receiving multiple offers — your agent will know — bid close to list price. But don’t engage in a bidding war, says Mark Foreman, senior vice president at Century 21. Plenty more homes will be coming onto the market.
Until your house keys are in hand, don’t change your financial profile don’t buy a car, take a new job, or pay a loan late. Increasingly lenders are re-pulling credit reports and reconfirming jobs just before closing, says Jim Gillespie, president of Coldwell Banker. Any changes could kill the deal.
Action Plan: Sellers. Hang on a few more years until the market recovers. Can’t hold off? Then try to unload fast.
Prices will be falling in most areas for the next several months and, depending on your location, the foreclosure slowdown in place may temporarily reduce your competition.
Wherever you are, pricing your home right is key. Buyers typically put an upper limit on their search in increments of $25,000 or $50,000. If your house is priced at $365,000, shoppers who cut their search at $350,000 may never see your home.
Best idea: Slightly underprice your house. More often than not you’ll attract numerous buyers who bid up the price, and you’ll end up getting fair value in much less time.
Action Plan: Investors. Assuming foreclosures have slowed where you are, hold off until a few months after they ramp up again. Until then, inventory will be limited, and that will set a floor under prices. When you’re ready to make your move, paying in cash will better the odds of a winning bid, says Foreman.
Action Plan: Owners. One word: refinance — even if you just did it a few years ago.
If you can shave at least one point off your rate and plan to stay in your home for at least four years, a refi makes sense. On a two-year-old $300,000 loan at 6.5%, refinancing will save you $465 a month and $120,000 in interest.
Or go with a 15-year loan, which averages 3.7%. Your payment will jump $225, but you’ll own your home 13 years earlier and save $253,000 in interest.
For a personal consultation, contact Franzetti Real Estate.
As temperatures fall in autumn and winter, the cost to keep a warm home begins to rise. Winterizing is necessary to avoid freeze-related home damages and keep your heating budget manageable. Pick up a few of these tested tips, and you can help control those energy and financial leaks before they start!
Weatherstripping
This most common form of winterization involves sealing the cracks around movable joints in your home, most commonly for windows and doors. According to the U.S. Department of Energy, there are many kinds of weatherstripping products on the market, including vinyl, copper, aluminum, felt, reinforced foam or stainless steel. By detecting air leaks, you can determine which windows and doors you should focus on first, and then measure the perimeters of each to know how much you will need to purchase. Additionally, it is recommended to add 5-10% in your calculations to accommodate waste from measurement or cutting errors.
Since each product is designed to work in a different area of the home, read product packaging carefully to determine if it is best suited for windows or doors, as well as indoor or outdoor use. Weatherstripping should always be applied to clean, dry surfaces and shouldn’t interfere with the operation of the window or door.
Door Sweeps
Many of the same manufacturers that offer weatherstripping products also make door sweeps to accommodate various sizes of doors. They are most effective when installed at the same time as weatherstripping, as they require many of the same measurements. Automatic sweeps are available for a steeper price, but are easier on carpet.
Sealing Cracks
Perhaps the most quick and simple way to guard your interior against chilly breezes and pests is with a commercial sealant. They come in many varieties, including expandable foam, silicone caulking, and oil or resin, among others. Each type of sealant will have a different use, although it is recommended that you avoid sealing gaps larger than one inch. For best results, the area being sealed should be clean, dry, and free of any previous sealant, and the product should be applied in one continuous line, as compared to multiple, short applications. Because some types of caulking can shrink over time, avoid being skimpy on your application.
Storm Windows
If your home’s windows came with additional storm panes, it is important to install them in the weeks before colder weather starts. If not, you may find it too expensive to purchase stand-alone storm windows. For a more affordable approach, plastic insulation kits can give windows of any size or shape a better insulating factor when installed on the inside of the home. Kits start at around $3 per window, and usually include everything needed for installation.
Hot Water Heater Wrap
The majority of homes still use a single electric or gas hot water heater for all of their hot water needs, and covering these appliances with an insulator can prevent heat from escaping during the winter months. Covers, or “blankets,” can be purchased at most home improvement stores for between $35 and $70, and are easy to install without professional help. However, be certain that the placement of a blanket will not void your manufacturer’s warranty.
Clean Gutters
Leftover leaves and debris can cause gutters to clog, causing headaches for homeowners when the temps reach freezing. To be sure that your gutters aren’t warped or broken from ice building up and expanding over the winter, do one final clean before the snow flies.
Get a Furnace Check-Up
While this one may involve the help of a professional, it can be well worth the cost. Have your furnace or heating system inspected at least once a year, before the elements require you to turn it on. A simple inspection of the working parts can ensure that you’ll have heat when you need it, and it can prevent a costly after-hours emergency call when you’d least expect it! While you’re at it, make sure your vents are clean and any filters have been changed. Your furnace professional or a helpful home store associate should be able to point you in the right direction for the type of filter you will need.
The Bottom Line
It’s a long list, but once you’ve tackled all the necessary winterizing tasks, you can sit back and stay warm all winter long. Spending some time and money well before the weather turns cold can provide a wonderful return on a much-needed investment!
To pare down their growing inventory of properties, Fannie Mae and Freddie Mac are scrambling to unload nearly 150,000 foreclosed homes. And that means 2004-esque deals — like requiring as little as 3% down, offering to pay a portion of the closing costs and arranging special financing and warranties for repairs and renovations.
It’s another option for home owners who want to trade up — and an easier way into the market for first-time home buyers, says Dean Baker, co-director of the Center for Economic and Policy Research who studies the housing market.
The best bargain might be the home’s price. A Smart Money analysis revealed that buyers could save $100,000 by buying a Fannie or Freddie home instead of similar fair-market properties just a few blocks away.
And while many of Fannie and Freddie’s homes are at the lower end of the market and in less-desirable areas, buyers can still find properties in good neighborhoods — and for $100,000 less than comparable houses nearby. For example, a five-bedroom, three-bath with a backyard, deck and two-car garage in tony Alexandria, Va., was listed for $445,000, $100,000 less than the average listing price in the area, according to Trulia.com. Four blocks away, a similar non-foreclosed colonial is listed for $639,900.
The downside: Angry neighbors. These types of listings are devaluing nearby properties. That means in some areas where Freddie and Fannie homes are on the market, buyers could find a better deal on a nearby market-rate home that doesn’t require repairs.
Buying a Fannie or Freddie home can be more complex than pursuing an open-market real estate listing — or even a commercial bank foreclosed property. There’s a smaller selection of appealing properties — there were just six higher-end homes listed on a recent day in Alexandria, for example — and those tend to sell the fastest. And there’s little room to negotiate price.
The three best features of Fannie and Freddie foreclosures that make digging for these deals worthwhile:
Small Down Payment
For its foreclosed properties, Fannie Mae will accept down payments as low as 3% on 30-year mortgages at the same interest rates banks are currently offering. And Fannie Mae doesn’t require private mortgage insurance. Compared to a typical bank mortgage, which requires 10% down, plus PMI for buyers with less than 20%, that’s a huge savings — an estimated $51,000 up front and upwards of $2,500 per year PMI on a $300,000 mortgage.
It’s a tradeoff, though. For buyers with 20% down, mortgage payments on a 30-year mortgage loan at 5% would be $1,288 a month. With just 3% down, the buyer would need to borrow $291,000 and make a $1,562 monthly payment.
Help with Renovations
Fannie and Freddie have fixed big flaws like leaky roofs and damaged electrical work, and they often handle small projects like replacing appliances that are broken or missing, tearing up old carpet, or fixing other damage left by former owners or vandals.
Now, to entice buyers who want to update or upgrade, many of Fannie Mae’s properties come with an optional mortgage that includes extra financing up to $30,000 for repairs and improvements. But with a little down payment and the extra amount tacked on, the buyer could end up owing more than the house is worth — especially if home prices continue to drop.
First Dibs
Buyers who plan to live in their Freddie Mac-purchased home will get to see properties for at least the first 15 days they’re on the market — before the listing opens to would-be landlords. Many bank-owned foreclosure properties are snatched up by cash-stocked investors who can wait out the downturn to sell later at a profit.
And Fannie and Freddie homes can be seen inside and out — unlike some regular foreclosure listings. Consider bringing along a contractor when you view the home to help spot areas that need repairs and provide pricing. (Most contractors will do this for free.)
“It gives families who want to buy a home to live in the opportunity to look and bid without competition from cash-rich investors,” says a Freddie Mac spokesman.
Rismedia,–Hard times elicit tough choices. This week, Steven Zeller, a Gold River, Calif.-based investment adviser, tackles a reader’s question on credit card debt and mortgage loans.
QUESTION: I’ve entered into a hardship payment program with the six banks that issued my 10 credit cards. I’m paying off $80,000 at an overall interest rate of 6 percent (down from an average of 20 percent). Due to the reduced payments, I now have $3,000 in monthly surplus income to either invest with, or pay down the credit cards.
I also have an upside-down mortgage on a rental house owned as income property. The bank seems (unwilling) to either modify or reduce the principal so I can sell it.
In time, this will all find its way into (Chapter 11 bankruptcy) courts. Life would be simpler if I pay down the credit cards and concentrate on (getting) the house above water. Instead, I’ve decided to invest the surplus in ERISA retirement vehicles and Roth IRAs. They would be exempt from collections but available as bargaining chips when negotiating with creditors. What is your opinion?
ANSWER: I would not encourage anyone to go into bankruptcy proceedings if he or she can help it. It creates a lot of stress and is not the best for your self-esteem.
If you have 10 credit cards to pay off, 6 percent is a pretty good deal instead of 20 percent.
I would begin paying off the credit cards, starting with the smallest one first, until they are all gone for good.
It may be painful at first, but you will increase your cash flow over time by (eliminating) the monthly payments.
Then I would attack the upside-down situation with your rental. In the long run, it is better, financially and emotionally, to be debt-free. And if the (credit card issuers) are giving you that opportunity, I would jump on it.
It would be a great personal and moral accomplishment.
At the end of the day, if you pay into an IRA and Roth IRA instead of paying down your credit card debt, you will still have debt. As far as negotiating with the (lender) on your rental property, I’m not sure it would look at the situation very positively if it saw you were fully funding your IRAs.
Avg. Sales Price: 379,000
Avg. Days on Market: 25
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