Archive | April, 2018

Costs More – Takes Longer

24 Apr

The one experience that homeowners can agree upon after completing a remodeling project is that it costs more and takes longer than expected. It doesn’t really matter that you researched, planned, and received multiple bids, it will, invariably, cost more and take longer than you originally anticipated.96303159-250.jpg

Replacing floorcovering or painting is a project that a homeowner can easily get bids and contract with the workmen directly. A new level of complexity occurs when the project involves more specialized contractors, like plumbers, electricians, carpenters, counters, and others.

Now, a homeowner is faced with dealing with one general contractor who will run roughshod over the sub-contractors or make the decision to do it themselves. Typically, you’ll pay more for a general contractor, but the trade-off is that they have the contacts and experience to make things go smoothly.

Subs are notorious for wanting to finish their “part” of the project and move onto to the next job. Sometimes, they’re not interested in the “big picture” enough to consider doing things in a way that are best for the overall outcome.

When you start tearing out some things, you find out that there may be unexpected expenses involved. Another common occurrence is that during the project, you get a new thought about changing something else “since it is already torn up anyway.” This will add time and money to the job.

There can be the situation that the homeowner doesn’t even know the right questions to ask or what to consider when trying to coordinate the different workers. The most detailed timetable can be thrown off track if one set of workers don’t show up or finish on time. At best, it delays the project for a few days. At worst, it can delay it for a few weeks because the individual workers may have committed to other jobs that don’t allow them to reschedule.

Once the work is done in a professional manner, you’re probably going to live with it for years. If it is something you’ve wanted to do and it will allow you to enjoy your home more, it is worth doing. Just be patient and enter this adventure with the understanding that it will cost more and take longer than you expect.


20 Apr

11410 Foutch-2

 LEASE:  12933 Cowper Drive, Frisco

5 Bedroom / 3.5 Bath / Workshop / 5+ Acres

Lush and green 5+ acres with 5 bedrooms, 3.5 bath country home includes a sparkling pool, attached spa, large pastures, chicken coops and more! Huge workshop insulated for sound with roll-up door, electricity and water, horse stalls, hay storage, tack room and RV storage. Stay connected with internet reception tower for fast internet and cell service.

The updated home has separate guest suite with a private entrance, living area, bedroom and full bath.

The gourmet kitchen is a chef’s delight with granite counters, ss appliances, electric range, double ovens. Open to the dining area. Living room has cozy fireplace and large windows to the backyard and pool area. Master bedroom has private bath with dual vanities and serene backyard views. Large covered deck leads to a flagstone patio!

Please contact Jayme Garrett at 334-799-6198 for more information or click HERE.

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


20 Apr


12933 Cowper Drive, Frisco

3 Bedroom / 2 Bath / Dining Room / Updated

Check out the full motion HD-video here!

This beautiful home in sought-after Creekside at Preston boasts an expansive floorplan, excellent updating, and is minutes from Preston and offers tremendous value – all in Frisco ISD!

Upgrades and features are….Texas-sized living area and cozy brick fireplace, gleaming hardwoods in family room, dining and hallway (2009), spacious kitchen with abundant cabinetry, work areas and dishwasher in (2015), AC system updated (2016), formal dining (could be study), huge master retreat with very roomy master closet, private and landscaped backyard with a board-on-board fence (2014), sprinkler system, interior location in neighborhood and more!

Priced to sell! Fabulous neighborhood amenities include a park, playground, walking trails and community events!

Easy access to Preston Road, Dallas North Tollway and 380. Talk about a quick commute  as you’ll be just 15 minutes from the headquarters of Toyota, JP Morgan Chase, Liberty Mutual, JC Penny, Frito Lay, Dr. Pepper, DXC and other major corporations in the Legacy Plano area.

Please contact Jeff Jacobs at 972-978-6539 for more information or click HERE.

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

Case Study – Housing Decision During Retirement

17 Apr

A couple is planning to tour the United States in a travel trailer during their first few years of retirement. They are going to sell their current home now and purchase another home when they finish their travels. 30349530-250.jpg

An interesting exercise is to determine the optimum time of selling the home: now or when they’re ready to buy their replacement home.

If they intend on traveling for more than three years, then, it may be a good decision to sell prior to the sojourn to avoid paying taxes on the gain in their home. IRS allows for a temporary rental of a principal residence while still keeping the $250,000/$500,000 capital gains exclusion intact. A homeowner must own and use a home for two out of the previous five years which means that it could be rented for up to three years, but it would need to be sold and closed before that three-year window expires.

If the travel will be less than three years, there is an option of selling now or later. Using the example below, the homeowner sold the home, paid their expenses and invested the proceeds in a three-year certificate of deposit until the replacement home was purchased.

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As an alternative, if the homeowner rented the home, not only would they have income, the home would continue to appreciate and the unpaid balance would go down resulting in larger net proceeds. Based on a 5% appreciation and continued amortization of the mortgage, the net proceeds could easily be $40,000 more.

case study retirement-2.jpg
Obviously, there are a lot of considerations that affect the decision to sell now or later but in an appreciating real estate environment, being without a home for several years could affect the financial position of the owner in the replacement property. It is certainly reasonable to look at various alternatives before making a decision. Call me at (972) 978-6539 to help you look at the different possibilities and talk to your tax professional.

Waiting Period After Distressed Sale

10 Apr

“How long do we have to wait to qualify for another mortgage” is the question concerning people who’ve had a foreclosure, short sale or bankruptcy. The loan types for the new loan will differ in amounts of time to heal credit scores based on the event.43296989-250.jpg

The following chart is meant to be a general guide for how long a person might have to wait. During this waiting period, it’s important that the person be current on all payments and maintains a history of good credit.

A recommended lender can give you specific information regarding your individual situation and can make suggestions that will improve your ability to qualify for a mortgage. This process should be started before looking at homes because of the time constraints listed here can vary based on current requirements and possible extenuating circumstances of your case.

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We want to be your personal source of real estate information and we’re committed to helping from purchase to sale and all the years in between. Call us at (972) 978-6539 for lender recommendations.


9 Apr

71721_4509 Forest Cove Drive, Mckinney TX 75071-Caydee Jennings ONSITE pic vid 3D_05-04-2018.0054

4509 Forest Cove Drive, McKinney

4 Bedroom / 3.5 Bath / Media/ Game / Study

Check out the full motion HD-video here!

Meticulously maintained and MOVE-IN ready home in a peaceful neighborhood!  Beautiful wood floors throughout downstairs leads into a light, bright and open floor plan. The kitchen with ample granite countertop space and cabinets, stainless steel appliances and walk-in pantry opens to the living area with soaring ceilings. Master bedroom with wood floors, spacious bathroom and WI closet with wood floors. Downstairs Study with french doors, half bath and mud / laundry room.

Upstairs:  The family will enjoy the big, open game room and the cozy media room. Two nice sized bedrooms with J&J bathroom and one bedroom suite with private bath.

Neutral paint throughout home. Covered patio area in backyard. Don’t miss out making this house your home!

New roof April 2018, carpet upstairs 2016, wood in master bedroom and closet 2016

Please contact Deborah Duffy at 214-927-9112 for more information or click HERE.

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


6 Apr

71138_13329 Bugatti Dr, Frisco TX 75034-Caydee Jennings ONSITE pic vid 3D_03-04-2018.0055hdr

13329 Bugatti Drive, Frisco

4 Bedroom / 3.1 Bath / Media / Game / Pool
3731 sq ft / Built 2005 / Frisco ISD

Check out the full motion HD-video here!

THIS IS THE ONE! Awesome 4 bedroom, 3.5 bath home with a backyard oasis in amazing Frisco ISD neighborhood!

Greetings to luxurious landscaping, trees, gorgeous elevation, sparkling heated pool, huge covered patio with outdoor kitchen and recently purchased grill ready for your backyard barbecues!

Spacious and warm interior with high ceilings, carpet recently installed, freshly painted throughout interior, updated iron spindles 2015, granite in all bathrooms, beautiful gourmet kitchen!

Welcome home!

Please contact Elyse Guthrie at 512.217.1412 for more information or click HERE.

Waiting Will Cost More

3 Apr

With the first quarter of 2018 in the books, the 30-year fixed rate mortgage is nearing what Freddie Mac predicted it would be in the second quarter. If this pace continues, rates will exceed the five percent mark expected by the end of the year.42814186-250.jpg

The Fed has had its first of an expected three raises for this year and two more are expected in 2019. While these rates are not directly related to mortgages, they certainly have an effect.

Delaying the decision to purchase or refinance could be an expensive missed opportunity. A $270,000 mortgage at 4.44% has a principal and interest payment of $1,358.44 per month. If the rate were to rise one-percent in the next twelve months, the payment would be $1,522.88.

The $164.44 increase would cost a homeowner an additional $13,812.97 in seven years and close to $60,000 over the full term of the loan.

The question facing people is “what would you spend $164.44 each month if you had acted sooner to get the lower rate?”

If you’re curious to know what your “missed opportunity” could be costing you, try this Cost of Waiting to Buy calculator . Use 0% increase on price change if you are refinancing a home you already own.

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