Archive | June, 2021

3263 Yeltes, Grand Prairie

29 Jun

3263 Yeltes-30

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15396 Mountain View Lane, Frisco

29 Jun

Mountain View Twilight 02

Gorgeous Hunters Creek Home with Sparkling Pool

4 Bedrooms / 3.1 Baths / Pool / Spa
3714 sq ft / Built 2001 / Frisco Schools

CLICK HERE TO VIEW HD TOUR

Stone landscaped beds and an upgraded flagstone elevation enhance the curb appeal of this gorgeous and updated home in sought-after Hunters Creek that is within walking distance of 3 of Frisco’s finest schools. Upon entry, through the 8’ front door, you will be immediately struck  by the upgraded finishes to include rich nail-down hardwoods, extensive and elegant millwork,  and 6” baseboards. Your guests will enjoy the neutral tones and plantation shutters throughout most of the home as well as the elegant formals with beautiful double crown moldings, picture frame moldings and upgraded millwork. Relax alone or entertain in the spacious family room that opens to the kitchen. Enjoy the warmth of gas logs in the fireplace with double mantle to display your most precious items and enjoy the beautiful view of the pool and patio. The fireplace is also flanked by built-in shelving and this room has rich nail-down hardwood flooring as well. The chef of the family will enjoy cooking in the upgraded kitchen that has granite counters, a large serving island, a Bosch double oven, gas range and microwave. Storage abounds in the extensive and painted 42” cabinets with fluted edges and pulls and cleanup is a breeze with a stainless steel Bosch dishwasher. Mornings couldn’t be brighter as you enjoy them in the breakfast area, with a window view and window seat, granite breakfast buffet that includes a study desk and additional storage space. The split and spacious owners retreat enjoys plantation shutters and a private bath with separate vanities, a Jacuzzi jetted tub, separate shower and a large walk-in closet with seasonal rack. Just down the hall is an additional elegant powder bath with a vanity-style sink and linen closet for guests.

Step outside into the backyard and you will find lush professional landscaping in your very own oasis whether you enjoy swimming in the sparkling and refreshing Hauk-built saltwater pool with stone coping, or just relaxing or entertaining on the large and open stamped concrete deck. This home has numerous other features and updates such as a spacious under stairs storage, a large 3 car garage, utility room with cabinetry, sink and window, recently updated pool pump, salt cell and salt sensor (2019, 2020) and recently installed water heaters (2019) in the garage. Hunters Creek that is an incredible neighborhood with parks, pools, walking trails along the creek and community events.

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 www.myrealtytown.com 

Are You Covered?

29 Jun

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A home warranty is a service contract that protects your home’s appliances and some systems from repairs or possible replacements. A convenient benefit of a home warranty is that when you report an item, they will assign a service provider to evaluate whether it should be repaired or replaced without the owner having to act like a middleman.

Homeowner’s insurance is required by most mortgage lenders when there is an outstanding loan. This coverage protects the structure and the dwelling and the homeowner’s personal property from named occurrences like theft, natural disaster, or accident. Homeowner’s insurance does not cover the systems and appliances for repairs or replacements due to normal wear.

The fees for home warranties can vary based on deductibles and how much of the risk the homeowner is willing to accept.

Additional items can be included to the standard coverage to include pool, spa, additional refrigerators, septic tanks, and other items. There may also be some named items that are not covered that could include sprinkler systems, window air conditioning units or other specific items.

Contracts usually are for a one-year period, may have a waiting period and usually will not include pre-existing conditions. The premium or fee is paid in advance.

Many homeowners learned about this type of service when they bought a home. It was provided by the seller and probably gave some element of peace of mind. Home warranties can be purchased even when the home is not being sold and by the current owner. Even rental property owners are using this type of coverage to manage the repairs and replacement expenses.

American Home Shield, Choice Home Warranty, Select Home Warranty, First American Home Warranty.

10301 Promontory Road, Frisco

26 Jun

 

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7621 King Arthur Road, Frisco

23 Jun

MLS Front View

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Thoughts on Credit and Getting a Mortgage

22 Jun

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Credit plays a huge role in getting a mortgage because it is a variable that helps the lender determine the likelihood that the loan will be repaid on a timely basis. Credit bureaus evaluate people’s credit worthiness using a FICO score. The higher the score the better the borrower’s credit.

The mortgage rate charged to a borrower depends on their credit score. There is an inverse relationship between credit score and interest rate changed. The higher the score the lower the rate and the lower the score, the higher the rate.

Two separate buyers with the same income, purchasing the same price home may both be approved by the lender, but they may be charged different interest rates based on their credit scores.

You could save thousands of dollars over the life of a loan by improving your credit score by just a few points. A $350,000 mortgage at 3.5% has a principal and interest payment of $1,571.66. By improving your credit score to qualify for a 3% rate, it would save $96.04 a month.

Over the life of the mortgage, that would save $34,575 in interest. Improving your credit score to shave 0.25% off the rate would make it worthwhile.

Credit utilization is the percentage of total credit used compared to the total credit available. If you have a $2,500 balance on a credit card with $10,000 available credit, your utilization rate is 25%. Ideally, it should be 10% or below. This ratio accounts for 30% of a person’s FICO score.

Credit utilization is calculated using the balance on the monthly statement so paying it off in full every month could still result in a high CU score. Some credit counselors suggest paying down the balance before the end of month statement comes out. A trusted mortgage professional can make specific recommendations like how to improve your credit utilization.

Your credit score can be adversely affected if your credit limits are lowered. You may have the same monthly outstanding balance you have had for years but it now becomes a larger percentage of your available credit and your score goes down. In the example used earlier, if the available credit was lowered to $5,000 and your balance is $2,500, the credit utilization is now 50%.

Payment history is the largest contributor and counts for 35% of an individual’s FICO score. It is an indication of your likelihood of paying on time and as agreed for your debt, especially mortgages, credit cards, student and car loans, among others.

A big shock to some borrowers is to find out that while they may have never actually incurred a late fee because of a grace period, their score could be dinged because it was not paid on time of the actual due date.

Foreclosures, deeds in lieu of foreclosure and bankruptcies will affect a borrowers payment history as long as they appear on the credit report.

Americans are entitled to a free annual credit report by law from the major credit companies: Experian, TransUnion and Equifax. AnnualCreditReport.com is the source for these federally authorized reports. During the Covid-19 pandemic, they are offering free weekly reports.

Even if you are not buying a home or getting a mortgage currently, it is a good routine to check your credit report periodically to discover signs of identity theft early.

339 Preston Glen, Gunter

17 Jun

339 Preston Glen-23

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First Love, Second Wife or Third REALTOR

15 Jun

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There is a story of a real estate agent’s prayer: “Dear Lord, if I can’t be someone’s first love, or second wife, at least, please let me be their third REALTOR®.” In a normal market with a balanced supply of sellers and buyers, this describes the preference that it might be better to be the third listing agent to help the seller after they became more realistic about their list price.

In today’s market, it might have more to do with buyers because of the increased competition, their chance of having an accepted offer is greatly reduced and it is only after they have lost several that they become more aggressive in the negotiations.

Competition for homes being sold has greatly increased over the previous two years, according to a recent REALTORS® Confidence Index Survey from NAR. In April of 2021, there were nearly five offers for every home sold which increased from two offers in 2019 and 2020.

Utah reported the highest number of offers per home sold with seven while Arizona, Georgia, New Hampshire, and Washington had six. California, Colorado, Tennessee, and Texas each had five offers per home sold.

To make their offers appear more attractive, more buyers are making cash offers to eliminate financing contingencies and reduce the chance of rejection. Cash offers represented 25% of offers in April and 21% in the first quarter of 2021 compared to 18% in 2020.

Buyers who are not able to make cash offers are increasing their down payment. Nearly half of homebuyers are putting 20% or more down during the first quarter of 2021. Even first-time buyers are using an 80% mortgage to make their offers more attractive to sellers.

The median days on the market for listings was 17, down from 21 days a year ago. 31% of residential sales were made to first-time homebuyers which is down from 32% in March 2021 and down from 36% one year ago.

While nearly ¾ of homes closed on time, 5% were terminated and 22% were delayed but eventually went into settlement. Appraisal and financing issues were the major contributors to the delayed transactions. The two major factors for the terminated transactions were also appraisals and inspections issues.

Today’s environment requires a strong, sensitive agent who understands your goals as well as the intricacies of the market to be able to devise a plan to make it happen. Your agent and their recommendations for the other professionals involved are the boots on the ground necessary whether you are a buyer or a seller.

15905 Buffalo Creek Drive, Frisco

14 Jun

Buffalo Creek twilight front

LUXURY ABOUNDS IN THIS STUNNING HOME WITH RICH UPDATING

3 Bedrooms / 2 Baths / 2 Living Areas / Outside Kitchen
2905 sq ft / Built 2006 / Frisco Schools

CLICK HERE TO VIEW HD TOUR

This gorgeous Highland home on a corner lot in sought-after Hunters Creek offers rich updating and is within walking distance of 3 of Frisco’s finest schools. . Stone landscaping beds, as well as an upgraded leaded-glass front door and coach lights enhance the curb appeal and elevation of this home and upon entry your guests will be greeted by rich nail down hardwood flooring in the hall, study, formal dining area, family room and kitchen. The executive study offers privacy with French doors, vaulted ceilings and a beautiful view of the front yard. Host gatherings in the stunning formal dining room that boasts double-crown molding, a window seat with plantation shutters and adjacent built-in shelving. The kitchen offers an inviting environment for any chef that includes a granite island, sink with updated faucet, black appliances, gas cooktop and 42” cabinets with crown molding and walk-in pantry for plenty of storage. Enjoy a quiet morning breakfast at the breakfast bar under updated pendant lighting. Additional storage space is available in the butler’s pantry with glass–fronted cabinetry to display your most cherished items. Spend hours entertaining or relaxing in the spacious family room with 13’ ceilings, plantation shutters and surround sound that opens to the kitchen. In the cooler months stay warm by the fireplace with a double mantle and gas logs. The owner’s retreat is split from other areas of the home and boasts a 13’ ceiling, window seating area with Plantation shutters and a stunning master bath. Upgraded granite counter tops, a jetted tub, separate shower and vanities along with custom walk-in Elfa closet system make this your very own spa retreat! The secondary bedrooms have updated plush carpeting (2021) throughout and walk-in closets and a spacious quest bath has upgraded bronze hardware. The Texas sized-game room on the upper level offers the versatility to create the environment of your choosing, suitable as a media room, craft room or whatever your imagination can envision!

The back yard is perfect for entertaining with numerous outstanding features to include a fully custom covered stamped concrete patio with vaulted ceilings, coach-style lighting, stone gas fireplace and hearth with TV connections and bracket. A built-in gas-grill with a stone serving area and refrigerator make it perfect for those small or large casual or formal gatherings. Other features of the special home are an oversized garage with sink, utility room with cabinets and a door to the additional side yard for play and Board on Board fence. This home presents outstanding value and Hunters Creek is an incredible neighborhood with parks, pools, walking trails along the creek and community events.

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 www.myrealtytown.com 

5803 Glenmore Drive, Parker

12 Jun

5803 Glenmore-40

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