Archive | August, 2015

More Home for a Lower Cost of Housing

25 Aug

What if you could live in a larger and possibly newer home for less than you are currently? Would you consider moving? Do you want to hear more?

Interest rates, while they’re expected to go up, actually took a small dip and are still hovering at the 4% or below mark for a 30 year mortgage and almost one percent less for a 15 year term. QUALITY COSTS3.png

Let’s assume that you have a $225,000 mortgage currently at 6% which has a principal and interest payment of $1,348.99. With a 4% rate, you could have a $282,561 mortgage with the same payment. A $57,000 more expensive home could help you get what you need most such as more square footage or a different location or a newer home.

If you’re going to be making that payment for years to come, why not allow lower interest rates to help you get the features you want without having to necessarily pay a higher payment. Taking that logic a little bit further, let’s see how utilities can make a difference too.

A newer home could easily have lower monthly utility costs than your current home due to being more energy efficient. Construction materials, windows, doors, insulation, modern HVAC systems and energy efficient appliances all contribute to lower utility costs. A new home with these advantages could easily save a homeowner up to 25-50% on utilities for the same size home.

The concept is simple: get the most home you can for the amount you spend on the payment and utilities. It will take some investigation and your real estate professional can help.

Great Stonebridge Ranch Home in McKinney Texas

24 Aug


This Stonebridge Ranch home offers the very best in floorplan, rich updating and boasts an impeccable location backing to a greenbelt area and pond.  Nice trees, a convenient front-entry garage and covered front porch for relaxing grace the curb appeal of this home and upon entry your guests will be greeting by recent carpeting (2014), an elegant formal living and dining with arches and warm, neutral tones. The kitchen would delight any chef with its rich granite counters, sleek black appliances, abundant cabinetry, large window over the sink, huge serving island with additional storage leading to an expansive family room with a cozy gas fireplace,updated ceiling fan, backyard view and entertainment niche.

The split & spacious master retreat also has an updated ceiling fan and master bath with separate tub & shower, dual sinks and large walk-in closet. Upstairs is a Texas-sized gameroom for entertaining and movie nights and also has 3 large bedrooms served by two full baths with walk-in closets. The large backyard and greenbelt area make for scenic views and Stonebridge Ranch offers amazing amenities to include golf, the Beach Club, aquatic center, walking trails, greenbelts and ponds. Excellent value and priced to sell! MLS 13222847. Contact Jeff C. Jacobs at 972-943-7302


19 Aug

MLS # 13219638


This gorgeous Landstar home in sought-after Hunters Creek has extensive updating, a versatile floorplan and is conveniently located just minutes from 121 & the North Dallas Tollway. Your guests will be greeted by a beautiful       elevation with Austin Stone, mature landscaping and a custom knotty alder 8’ door and upon entry….will be met by iron spindles gracing the stairway and soaring ceilings leading to a private study with extensive built-in shelving and French doors.  Gleaming hardwoods adorn the elegant formal dining and adjoining is a kitchen that would delight any chef with its rich Giallo granite counters, tumbled marble backsplash with inlay & stainless sink/faucet (all 2013), GE stainless appliances & painted 42”cabinets (2015), vaulted ceilings, trendy pendant lighting and an adjacent sunny breakfast area. The expansive family room features hardwood flooring, custom built-in shelving, upgraded ceiling fan, a cozy fireplace with gas logs and leads to an outdoor patio area perfect for relaxing with a large arbor, built-in Jenn-Air grill area with flagstone, extensive landscaping, yard area and 8’ board on board fence. The split master retreat offers two closets, hardwoods and a master bath with dual vanities, separate shower and garden tub and upgraded ceiling fan. Upstairs is a nice gameroom with a custom built-in bar area and 3 spacious bedrooms served by a large full bath. Other upgrades/features are….a spray-on radiant barrier, 2.5 car garage for storage, corner lot with greenbelt view, roof replaced with Class 4 shingles (2014), HVAC condensing units (2013 & 2010), garage water heater (2012), plush carpeting (2015), hardwoods (2013), warm, neutral tones, upgraded fixtures and more. This home is within walking distance of 3 outstanding Frisco schools and Hunters Creek has unbeatable neighborhood amenities that include two scenic pool areas, Taychas Trail along the creek, & community events.  Contact Jeff C. Jacobs for a showing at 972-943-7302.  

Get Ready for College

18 Aug

rental advantages.pngOne of the important things as a parent is to plan for their children’s education. Let’s look at two different approaches: a savings account or investing in rental real estate.

Assuming your child is five years old and you start putting $250 a month in a savings account earning 2%, in 13 years you’d have $44,497.41 to pay for their college. Anticipating that isn’t going to be enough, you’d have to save $500 a month to end up with $88,995.

Another way would be to make a lump sum contribution of $20,000 today in a mutual fund earning 5% that would be worth $37,713 in 13 years. You’d have to make a $47,196 initial contribution to end up with the same $88,995.

An alternative to savings would be to invest in a $100,000 home in a good area. Assuming a three percent appreciation and rent of $1,000 a month, an initial investment of $23,500 could have a future wealth position of $83,838 at the end of 13 years.

Obviously, this is just an example of why rental homes are the IDEAL investment providing Income, Depreciation, Equity build-up, Appreciation and Leverage. While rentals certainly have more risk and management than a savings account, they do provide an opportunity for a higher rate of return.

If you’re concerned about paying for college tuition in the future, it is certainly worth investigating the possibility of investing in rental homes today.


14 Aug


Stop by and see this incredible M Street home – 2 bedroom/ 1 bath/ study/ 2 living / 2 dining. This home has tons of charm and so many period details – hardwood floors, beautiful glass paneled doors to study, built-in original corner cabinets in study, original crown molding and baseboards, lots of closet space, built-in seating in kitchen, period front door and mantle and so much more. MLS #13209761. Contact Jeff C. Jacobs with questions or to arrange a private showing – 972-943-7302.

Wait a Year…It Won’t Matter?

11 Aug

There is a frequently quoted expression “more money has been lost from indecision than was ever lost from making a bad decision.” Regardless of the extent of its accuracy, most people can recall when procrastination has cost them money. 2015-16-250.jpg

There are markets so short of inventory that buyers have become frustrated after losing bids for several homes and have decided to wait until more homes come on the market. In the meantime, the shortage of homes is driving the prices up more by the month.

There are buyers who can’t find what they want for the price they want to pay and think that waiting will somehow change things. In some cases, what they want just keeps moving farther and farther away from them.

The other dynamic in play is, of course, the mortgage rates. While they’ve remained low for several years, most experts agree that they’re going to rise; it’s just a matter of when. If you look at what positive increases in both of these would do, it becomes apparent that waiting will matter.

A $250,000 home purchased today on a FHA loan at 4% for 30 years will have a principal and interest payment of $1,151.76. If a buyer were to wait a year and the price increased 5% and the rate went up by 1%, the payment would increase by over $200 a month. In a seven year period, the increased payment alone would cost the buyer over $17,000.

Use the Cost of Waiting to Buy calculator to see how much it will matter based on the home you want to buy and what you think the prices and rates will do in the next year.

Home for Sale – 5209 Rolling Rock, McKinney Texas 75070

5 Aug


MLS 13199517

Gorgeous home in sought after Stone Brooke Crossing has rich upgrades, versatile open floorplan and excellent McKinney schools. Home has a brick elevation with mature landscaped beds trimmed in Austin limestone and an aggregate sidewalk leading up to a   leaded glass front door. The open entry has art niches, designer lighting and slate floors with    hand-scraped hardwoods flowing into the spacious dining, study and hall which have 4” base boards, 6” crown moldings and designer lighting.  A rare first floor guest suite has a good-sized bedroom with walk-in closet and full bath, ample cabinet space, oiled bronze fixtures and updated lighting. The kitchen was upgraded in 2015 and is a chef’s dream: hand-scraped hardwoods, granite counters, recessed lighting, stainless steel microwave and dishwasher (2014), a deep double sink, breakfast bar with wainscoting and wood mule posts, a granite planning desk and butler’s pantry with even more storage space. The family room has soaring 2-story ceilings, slate surround gas starter fireplace, built-in entertainment center and plush carpet (2013). The Texas-sized Master retreat has an elegant foyer with art niche, a large bedroom with sitting area, walk in closet and master bath complete with double vanities, sunken garden tub, separate shower and linen closet. The game room offers great space and has a deep storage closet and the secondary spacious bedrooms have walk-in closets and share a third full bath. Other features include aggregate patio with large backyard – great for entertaining. Priced to Sell!


5 Aug


MLS 13209761

This great M Street area bungalow offers vintage character, an excellent cul-de-sac location, a large backyard perfect for entertaining and minutes from great shopping and dining! From the minute you walk in, you will notice the attention to detail and period charm—beautiful hardwood floors, glass doorknobs, crown molding and many           architectural features. The living room has plenty of natural light, a bay window, a  decorative fireplace mantle and it flows into the study complete with original glass accordion doors and dual corner built-in cabinets. The kitchen has new flooring (2015),   lots of cabinet and counter space, a built in window box, a cute eat-in area with built-in seating and opens to the family room and formal dining area. The family room is spacious with a utility closet for washer/dryer and has another great storage closet. The formal dining offers a great view of the backyard and offers great space for holiday meals. The backyard has mature landscaping, a wooden deck and is spacious! Other upgrades—features include windows replaced in 2013, 8 ft. board on board fence in 2014, large deck, 2- car garage, designer lighting, beautiful front vintage door. Priced to sell! Contact Jeff C. Jacobs for more information on this property 972-943-7302.

Who is Your Champion?

4 Aug

champion-200.jpgThe Super Bowl and World Series determine the football and baseball champions. Since there can only be one champion, the other team loses the competition. In feudal times, a knight might champion for the king or a patriotic, romantic or religious cause.

Fierce competition can occur when buying or selling a home because each party wants to get the “best deal” possible. When the buyer and seller are not equally matched, and they rarely are, it is important to have a champion on your side to fight for your cause.

The price of the home, the type of financing and concessions, personal property, closing dates and possession are just a few of the many things that can be negotiated in a contract. Since the seller wants to get the most for their house and the buyer wants to pay the least, their causes are diametrically opposed.

Even after the contract is signed, removing the contingencies can cause considerable negotiations. The inspections or the appraisal could be the source of reevaluating the terms and provisions of the contract.

Negotiating the sale or purchase of a home is definitely a competition and you need a champion on your side.

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