Archive | April, 2016

Immaculate Upgraded Home With All The Extras!

30 Apr


1614 Frederickburg Drive, Allen
5 Bedroom / 4 Bath / Media /  Upgraded

Beautiful 5 bedroom, 4 bath home convenient to 121 and 75!  Barely lived-in with all of the upgrades!  Two story rotunda entry, fabulous open floor plan with Master, In-law suite and study down. Media, Game and 3 bedrooms up, plus a loft! 

Handscraped hardwoods, granite throughout.  Kitchen boasts oversized island, extensive counter space, double ovens, gas cooktop and walk-in pantry. Gorgeous stone gas log fireplace in the Family Room with two story ceiling. Lots of large windows let in natural light and provide views of the covered patio and backyard.

Huge Master retreat with a spa-like walk through shower in master bath, separate vanities and two closets!

Neighborhood has beautiful greenbelts with walking path.  Great schools and convenient to 121, shopping and entertainment. 

Welcome home!

You don’t want to miss this opportunity!  MLS 13366154

Please contact Shirl McKinney at 214-232-7174 for more information or click HERE.

For more information and other homes for sale in this area, check out 

Luxury Abounds In This True Custom Home!

30 Apr


1105 S. Wellington Point Road, McKinney
4 Bedroom / 4.5 Bath / Media / Game / .45 Acre Lot

Luxury abounds in this Stonecrest custom home with an expansive floorplan & rich upgrades nestled on an almost ½ acre lot with a private backyard oasis in the exclusive enclave of Wellington Point in Stonebridge Ranch.  Lush landscaping and extensive stonework enhance the stately curb appeal of this estate and upon entry, detailed millwork, iron spindles on the stairs, warm tones, hand-scraped hardwoods & a fireplace make both the formal living and dining an excellent & inviting space to relax and gather with friends. The gourmet kitchen would delight any chef with its abundant 42” cabinetry with crown and dentil moldings, exotic granite & basket-weave backsplash (’09), serving island, stainless double convection ovens, gas cooktop, stainless dishwasher (’15), walk-in pantry and just adjacent is a convenient planning desk area.

The Texas-sized family room is open to the kitchen, has a beautiful pool view, a built-in wine bar with fridge & bottle storage, a massive stone fireplace with gas logs flanked by extensive built-in shelving and handscraped hardwoods. The master retreat is split from the other bedrooms providing privacy & has upgraded patterned carpeting (’16), a pool view and enjoys a luxurious master bath with upgraded & freshly painted cabinetry, glass blocks, a jetted tub & oversized shower, large walk-in closet and additional cedar closet. Also downstairs is an executive study with an adjacent full bath, numerous stain-grade built-ins which provides both convenience and efficiency while working from home.

Upstairs are three spacious bedrooms all with walk-in closets, 2 full baths, large gameroom for fun and a huge media room with a wall of built-ins for movie nights and sporting events.  The backyard is a true retreat with its oversized covered patio, built-in firepit, professional landscaping & sparkling pool with rock accents, flagstone coping, waterfall and grotto, landscaping lights, diving board, large backyard & all are completely private.  Other upgrades/features are…an elegant pool bath, solid-core doors, 6” baseboards, updated condensing units, master bath and family room paint (’16), 3-car garage and large driveway for play, utility room with kid’s cubby & more! Wellington residents enjoy the private lakes of the neighborhood, all the amenities of Stonebridge Ranch and McKinney schools!

You don’t want to miss this opportunity!  MLS 13365369

Please contact Jeff Jacobs at 972-943-7302 for more information or click HERE.

For more information and other homes for sale in this area, check out 

Temporary Buy Down

26 Apr

There is an infrequently-used mortgage program available that could be the solution to a buyer’s or seller’s problem.

2-1 Buy Down - 2.pngA temporary buydown is fixed rate mortgage that the seller has prepaid interest at closing to lower the payments for a number of years. The borrower must qualify at the note rate but gets the benefit of lower payments for the early years.

A 2/1 is a common buydown that the first year’s payment is calculated at 2% lower than the note rate and the second year’s payment is calculated at 1% lower than the note rate. The third through thirtieth years’ payments are the note rate.

Let’s set the scene. A buyer is using their available cash for down payment and closing costs to get into the home. They’d like to put their own touches on the home when they move in but may not be able to for a year or two since most of their cash was used.

In this example, a $250,000 home is purchased with a 3.5% down payment and a 4% mortgage for 30-years. Normally, the principal and interest payment would be $1,151.76 for the full 30-year term. If the seller will pay the lender $4,736 at closing, it can be applied to pre-pay part of the interest for the first two years.

2-1 Buy Down - chart.png

The first year, the buyer’s P&I payment will be $891.71 for 12 months based on a 2% interest rate or 2% lower than the 4% note rate. It is $260.06 lower per month in the first year. The second year, the buyer’s P&I payment will be $1,017.12 for the next 12 months based on a 3% interest rate or 1% lower than the 4% note rate. It is $134.64 lower per month in the second year.

A bonus for the buyer will be that the cost of the buydown paid at closing by the seller becomes prepaid interest that is deductible by the buyer in the year of purchase. The buyer gets lower than normal payments for the first two years and a sizable tax deduction.

This type of program can be very beneficial to a seller who wants to offer terms to improve the marketability of their home rather than lower the price. The challenge will be explaining it to not only potential buyers but even agents who are not familiar with this program.

Updated Home With Hardwood Floors

25 Apr


2709 Princeton Road, Flower Mound
4 Bedroom / 2.1 Bath / Media Room

This stunning home in the heart of Flower Mound boasts an expansive floorplan, nice updating and excellent Flower Mound schools. 

You’ll enjoy the curb appeal of this home with its mature landscaping and brick borders and, upon entry, the split formals make for an elegant area to dine and also an excellent study. The spacious family room has gleaming hardwoods, soaring 20’ ceilings, a gas fireplace with adjacent built-in shelves and is open to a large kitchen with updated granite, serving island, gas cooktop, abundant work areas, breakfast bar, large pantry, stainless microwave and trendy lighting. 

The split & private master retreat boasts hardwoods and has a master bath with dual vanities, jetted tub, separate shower and large walk-in closet. Upstairs are 3 spacious bedrooms (2 with walk-in closets), a full bath & media room wired for sound with tiered seating and sconces on dimmers for movie nights and sporting events.

Other upgrades and features are….an updated powder bath, separate utility room, nice backyard and drive for basketball/play, catwalk over the living area, recent paint, sprinkler and security systems.  Priced to sell!!

You don’t want to miss this opportunity!  MLS 13359095

Please contact Jeff Jacobs at 972-943-7302 for more information or click HERE.

For more information and other homes for sale in this area, check out 

Upgraded Home With Outdoor Kitchen In McKinney!

25 Apr


8304 Ontario Way, McKinney
5 Bedroom / 2.1 Bath / Upgraded / Outdoor Kitchen

Beautiful, 5 bedroom home located right in the heart of Stonebridge Ranch and just minutes from the new PSA McKinney recreation center! This home has a very versatile open floor-plan and soaring 18′ ceilings with gorgeous, extensive crown molding. The 5th bedroom upstairs could easily be used as a game room/media room. The kitchen has 42″ cherry cabinets, granite counter-tops, stainless steel appliances and a gas cook top. The family room also has the 18′ ceilings, creating a spacious, yet inviting environment. 

The master retreat is a private oasis, separate from the other bedrooms. It has custom built-in features and built-in light sconces. The master bath boasts a large garden tub, walk-in shower and a huge master closet.

The backyard of this home is a wonderful place to relax after a hard day’s work or just a place to simply enjoy the huge amount of space! An extended patio with an outdoor kitchen… complete with a built-in gas grill, stone built-ins, concrete counter top and slate tile. A great place for an evening barbecue and weekend get-togethers.   This home sits in the exemplary McKinney school district. This home won’t last long, don’t miss out on this wonderful opportunity!

You don’t want to miss this opportunity!  MLS 13361531

Please contact Tamra Powers at 214-680-6844 for more information or click HERE.

For more information and other homes for sale in this area, check out 

Tips for Buying Rentals

19 Apr

Buying rental property can be an excellent decision and the better informed you are, the more likely you’ll have favorable results. The following suggestions can help you with your decisions.

rising homes.jpgReal estate is a long term investment affected by supply, demand and the economy. It isn’t an investment that is easily converted to cash. The costs to acquire and dispose of real estate are sizable and need to be spread over years to minimize their effects on the rate of return.

Invest in average price homes or slightly below average price to appeal to the broadest market not only when you are renting but later on when you sell it. The average price is relative to the market you are in and those specific prices.

Lower-priced homes will rent for more relative to higher-priced homes. There is an inverse relationship between rent as a percentage of the price. As the price increases, the rent as a percentage of the price decreases. For example, a $200,000 home might rent for $1,750 a month or 0.88% where a $400,000 home might only rent for $2,250 a month or 0.68%.

Choose predominantly owner-occupied neighborhoods because when you sell the home, it will appeal to a homeowner who will most likely pay a higher price for the home. Homes in predominantly tenant-occupied neighborhoods tend to sell to investors who pay lower prices and will not be emotionally involved with the purchase.

Purchase a property with the idea of selling it in mind. You may be able to get a property for a bargain price today but if it is due to a functional obsolescence like a bad floorplan or not enough bathrooms, that problem will still be there when you’re ready to sell the property. Identify what the problem is and what solutions are available. The property may rent fine in that condition but before you sell, it will need to be corrected.

Get the home inspected before you purchase it. Having the property checked out can save thousands in unanticipated expenses.

Consider getting a home warranty on your rental. The annual premium can limit the out of pocket expenses for repairs and maintenance.

Risk can be minimized by understanding the investment and what is involved in the acquisition, operation and disposition. For the typical homeowner, rental property is something that they can relate to because of the similar attributes of the home they live in.

How Earnest Are You?

12 Apr

“If I tell you it’s going to rain, you can put the buckets on the porch.” If you grew up in the south, you may have heard this expression when a person is testifying to the veracity of his word. If you know a person and/or their reputation, you know whether you can trust their word or not.

7918959_s-250.jpgHowever, with a stranger such as a buyer, the seller doesn’t know whether they’ll live up to the terms of the contract or not. Buyers submit earnest money along with a contract to demonstrate their commitment to the terms of the offer.

The more earnest money that the buyer deposits indicates to the seller a higher level of commitment to the contract. Except for stated contingencies in the sales contract, if the buyer fails to close on the sale, the earnest money may be forfeited. Significant earnest money makes the seller feel more secure that the contract will close.

There certainly are a lot of things that can dictate how much earnest money is appropriate. Local customs, price of the home and type of mortgage can all help to determine the proper amount. In some areas, it may be common for it to be 1-5 percent of the purchase price. In other areas, it might be a specific amount like $1,000 to $10,000 depending on the sales price. It really comes down to whatever the buyer and seller agree is the proper amount.

Another strategy is to put up an adequate amount initially until you get through the inspections or contingency period and then, to put up an additional amount when the contingencies have been removed.

The earnest money demonstrates the buyers’ sincerity in making the offer and proceeding according to the agreement so the seller can take their home off the market and start making plans to move and give possession of their home. Ultimately, both parties want to close as anticipated according to the contract and the earnest money helps facilitate that.

Components of a Credit Score

5 Apr

Credit scores are used by lenders to measure the credit worthiness of borrowers. While there are several different companies that offer scores, the FICO, Fair Isaacson Corporation, is the model that is used most often.

There are five key components that determine the overall score or rating. The most emphasis, 35% of the overall score, is placed on payment history which reflects whether the borrower paid on time and as agreed by the terms of the credit. Being late, missing payments or going into default would have adverse effects on this part of the score. FICO score.png

The second largest component, 30%, is credit utilization or the amount owed in relation to amount available. A person might have a $4,000 outstanding balance on available credit of $20,000. This would be a 20% ratio and would be considered acceptable. Owing $15,000 on $20,000 of available credit would be a 75% ratio and would negatively affect this part of the credit score. FICO says people with the best scores average around 7% credit utilization.

The length of time each account has been open and the account’s activity determines 15% of the total credit score. By having a longer credit history, the credit provider has a better indication of the borrower’s long-term financial behavior. Having an open account without activity doesn’t offer a provider much information.

New credit and types of credit each account for 10% of the total score. New credit can adversely affect a score because it is a new obligation without history of how it will affect the borrower’s ability to repay all of their liabilities. Types of credit include both revolving and installment debt. A good mixture of each can indicate less risk for lenders.

The combination of all five areas make up the total score which lenders use to determine credit worthiness. Another confusing issue is that all credit scores are not mortgage credit scores. This particular score determines not only whether the lender will make a mortgage but at what interest rate.

The best place to get your credit score if you’re planning on purchasing a home is from a trusted mortgage professional. This person will be able to suggest things to improve your score if necessary. Buying a home is one of the largest investments in most people’s lives; it is really not a do-it-yourself activity.

Cul-de-Sac Lot In Popular Plano Location!

4 Apr

photo 4

2328 High Country Way, Plano
5 Bedroom / 3 Bath / 3 Car / Upgraded

Looking for space in Plano? Look no further than 2328 High Country Way for the perfect family home within the highly coveted 75025 zip code of Plano. 5 bed/3 full baths/2 car garage with 3586 square feet of living area on .19 acre lot on cul-de-sac street within walking distance of award winning Andrews Elementary, neighborhood park, and community pool. Enjoy gracious living throughout both stories: formal living, formal dining, media room, family room with granite fireplace & volume ceilings, bonus loft, gourmet kitchen, and eat-in kitchen. Downstairs master bedroom opens to paved patio and yard, and includes a master bath with not only jetted spa tub, but a multi-head “carwash” walk-in shower. Meticulously owned and maintained by its original owners, and upgraded to include real hardwood floors- not engineered-, travertine, extra wide crown moldings, surround sound in media, extra storage spaces throughout, art niches, built-ins, highest quality granite, cabinets, and appliances, two years young roof, 8 ft privacy fence, and even a custom wood deck for enjoying our beautiful Texas weather.
Welcome home!

You don’t want to miss this opportunity!  MLS 13348166

Please contact Alana Davis at 214-202-7120 for more information.

For more information and other homes for sale in this area, check 

Paul Taylor Custom One Story Home With All The Extras!

4 Apr


910 Beechwood Lane
5 Bedroom / 4 Bath / 5 Car / Pool / Over One Acre

This beautiful 1 story Paul Taylor custom built home with 5 bedrooms, 4 baths and 5 car garage sits on a 1 acre green belt lot.  Gorgeous drive up appeal with extended front porch entrance. Backyard oasis includes covered porch, cedar pergola, pool & spa with water sport features.  The size and openness of the family room, kitchen and breakfast area is perfect for entertaining.  Recent roof, wood floors, granite counters.  Lovejoy schools and many more features!

You don’t want to miss this opportunity!  MLS 13341438

For more information and photos on this home, click here.

Please contact Shirl McKinney at 214-232-7174for more information.

For more information and other homes for sale in this area, check out 

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