Dallas Real Estate and Short Sale Blog

McKinney Texas Townhome For Sale 5604 Rowlett Creek Way

Sun, 20 May 2012 20:22:25 -0700

2 Bedrooms | 2 Baths | 2 Car Garage | 1734 SF/Builder

Luxury low-maintenance living in single story townhome. Popular Julia floor plan with huge expanded master suite. Upgraded paint color, Knotty Alder stained cabinets in kitchen, stainless steel appliances including double ovens. Hardwood floors, upgraded ceramic tile, and 8ft. doors throughout. Enjoy the many amenities of Craig Ranch!

Click here for more details, photos, virtual tour, status, and pricing on this McKinney TX Townhome For Sale.

Click here to see all townhomes for sale in McKinney TX.

Photo Copyright 2011 Imaged2Sell

Originally posted at http://www.thebranchteam.com/wordpress/2012/05/20/mckinney-texas-townhome-for-sale-5604-rowlett-creek-way/

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton. While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure. Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

Copyright 2009-2012 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

25 Billion Dollar National Mortgage Settlement

Fri, 27 Apr 2012 05:48:32 -0700

The Federal Government and five large loan servicers (Bank of America, Chase, Citi, Ally, and Wells Fargo) have reached a settlement over the "robo-signing" of foreclosure documents. The 25 billion dollar settlement provides relief to distressed homeowners and direct payments to states and the federal government.

The Attorneys General on the Executive Committee that negotiated the settlement have created a website at www.nationalmortgagesettlement.com that provides information on the settlement.

Don't be scammed by people offering to assist you with filing a claim for a fee. Filing is easy and free to borrowers.

Below is a link to a video produced by TBWS Daily that covers this in detail.

Your Portion of the $25 Billion Settlement

We will post updates as more information becomes available.

Photo Licensed from iStockPhoto

Originally posted at http://www.thebranchteam.com/wordpress/2012/04/27/25-billion-dollar-national-mortgage-settlement/

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Lawler Park Frisco Texas New Homes

Fri, 11 May 2012 16:19:05 -0700

Southeast Frisco is booming with new home construction! Just north of Richwoods sits 143 prime acres soon to be Lawler Park. This community is just a few miles north of HWY 121 between Independence Pkwy and Coit Rd.

Currently there are two highly respected new home builders slated to build in Lawler Park – Highland Homes and Darling Homes. Lot sizes vary and prices will range from the $400s to the $700s. Once built out, Lawler Park will be home to around 348 families.

Within Lawler Park will be two distinct sections – The Arbors at Lawler Park and The Crossing at Lawler Park. The Arbors will feature patio/zero lot line homes starting at roughly 2,440 square feet. The Crossing will have front entry homes beginning at just over 2,900 square feet. Both sections will be zoned to Exemplary Frisco ISD.

The model homes at Lawler Park should be ready in October, 2012. However, we can help you select your dream home site now! This premier location is close to shopping at Stonebriar Mall, the Allen Outlet Mall, and The Shops at Fairview. Numerous restaurants and entertainment venues are also close by.

Originally posted at http://www.thebranchteam.com/wordpress/2012/05/11/lawler-park-frisco-texas-new-homes/

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

My Air Conditioning Is Leaking

Sat, 05 May 2012 20:34:44 -0700

I received an email from a client this evening. It read, "My AC is leaking!"

It's that time of year in Texas. We've had temperatures into the low 90's and people are firing up their air conditioning systems for the first time. Some people never notice the water dripping from a pipe that exits over a window while other people think it is normal. I've ever seen one where the owner placed a large potted plant under the drip! Why waste water?

It's not normal! If you see water dripping, most likely your primary AC drain is plugged.

The water produced by the AC normally drains into the primary drain that is attached to the home's plumbing. At the end of last season there was water in the trap that dried out leaving mold, lint, and other residue that clogs the trap. When that happens, the water overflows into the Overflow Pan and runs out through the overflow drain which usually exits the home over a window.

Don't panic! It's easy to fix.

Pour a little chlorine beach into the primary drain (the cap on the top of the drain comes off), let it sit for a few minutes, and then wash it down with plenty of clean water. This usually clears out the trap and everything is fine again.

If this does not clear the clog or you're not comfortable with this process, you should call an HVAC technician who can repair it for you.

Originally posted at http://www.thebranchteam.com/wordpress/2012/05/05/my-air-conditioning-is-leaking/

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

A Different Kind of ActiveRain Success Story

Tue, 01 May 2012 19:36:06 -0700

Today was another one of those busy days with most of it spent working out my my car. When I arrived back at the office after a 7 PM listing appointment, I had a few minutes to catch up on email.

I had received a nice email from a couple in Georgia. They had been looking for a lease and found what they thought was a great deal. Being concerned they did a Google search for the "owner's" phone number and up came a blog we wrote in June 2011 titled, "Rental Scams Hit the Area…Again" which warned people about a scam being run in the Dallas market. I guess the scammer has moved on to Atlanta.

Here's the note the couple sent me:

My husband and I have worked in the mortgage industry for years so we know about people trying to rent properties in foreclosure. We did a little research on this property just to make sure it wasn't being foreclosed on and never did we imagine it's even worse. A scam, thanks to you we didn't get scammed. Here is a copy of the email we received regarding a listing that was showing with a Real Estate agent for $1650 and the "owner" listing on craigslist was asking for $800. My husband texted back and forth a few times asking questions and things started to get a little more suspicious. Finally before I provided the information requested I Googled the +234 # and came across your web posting. Thanks again!

You have to love it when something you wrote saves people you will never meet from being scammed!

Photo licensed form iStockPhoto

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Knock, Knock. Who’s There? Sellers Beware!

Mon, 30 Apr 2012 19:27:59 -0700

I received a call this evening from one of my sellers. A potential buyer had showed up at her home, rang the doorbell, and asked to see the home. While this raised red flags for her, she let him into her home and showed him around.

The good news is that nothing happened.

It’s one thing to allow an agent with a keycard and who has scheduled an appointment into your home, but allowing a stranger off the street to do so could be a recipe for disaster.

Buyers off the street should always be referred to your agent. Agents generally qualify potential buyers before showing homes to them. This process tends to weed out unqualified or “buyers" with other motives.

Sellers, I know you want to sell your home, but please do not forfeit your safety in the process.

Photo licensed from iStockPhoto

Originally posted at http://www.thebranchteam.com/wordpress/2012/04/30/knock-knock-whos-there-sellers-beware/

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Sorano Estates Frisco Texas

Mon, 30 Apr 2012 12:47:01 -0700

If you’re looking for a NEW home in exemplary Frisco ISD, you might want to check out Sorano Estates. After you pass through the grand entrance, you’ll discover large home sites nestled along winding streets with cul-de-sacs.

First Texas Homes offers 11 luxury home designs in Sorano Estates, all Energy Star Certified, and starting in the $280s. Families will enjoy the parks within the neighborhood and the peaceful atmosphere of a smaller community.

Location is a big plus for Sorano Estates, situated just three miles north of Highway 121 on Independence. This prime location is close to three golf courses, retail, restaurants, and entertainment. There are a few homes already available, and building lots are going fast. Now’s the time to pick your perfect home site before they’re all gone!

Click here to view all homes for sale in Sorano Estates, Frisco, Texas.

Click here to search all homes for sale in Frisco, TX.

Photo Copyright 2012 Imaged2Sell

Originally posted at http://www.thebranchteam.com/wordpress/2012/04/30/sorano-estates-frisco-texas/

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Thinking About a Short Sale? Tax Relief Ends in 2012

Mon, 30 Apr 2012 07:55:33 -0700

You may think Short Sales were created in response to the housing market meltdown in 2007, but they have been around for years.

As Gina and I wrote in our book, The Field Guide to Short Sales, “They have not been widely used in the past for two reasons:

1. The lender could seek a deficiency judgment against the borrower for the amount of the loss. Laws vary from State to State, but the lender was able to garnish wages, engage a collection agency to collect the debt, or seek other legal relief.

2. The lender can elect to forgive all or a portion of the mortgage balance. However, until 2007, the amount forgiven became taxable income. The lender simply issued an IRS Form 1099 to the borrower. The tax implications were dramatic. If the lender forgave $100,000 and issued an IRS Form 1099 to the borrower for the same amount, the borrower potentially wound up owing the IRS tens of thousands of dollars depending on their tax rate.

The Mortgage Forgiveness Debt Relief Act was a major piece of legislation passed by Congress and signed into law by President George W. Bush. The Act offered relief to homeowners, who, after a Short Sale, owed taxes on the forgiven mortgage debt. This relief is great news! Most homeowners no longer have to pay taxes on that forgiven debt. The Act applied to debts forgiven between 2007 and 2009, but was extended through 2012 by the Economic Stabilization Act of 2008.”

Unless Congress takes action to extend the Act, the relief from paying Federal taxes on forgiven debt will expire on December 31, 2012. This could end up costing a distressed homeowner tens of thousands of dollars in Federal taxes.

If you are considering a Short Sale, you may want to get started quickly. Given the time it takes to get the sale approved and the buyer to close, time is quickly running out.

Want to talk to a real estate team with a proved track-record and knows how to get them done? Contact us at 214-227-6626 or visit our website at www.ntxshortsales.com.

Photo licensed from iStockPhoto

Originally posted at http://www.thebranchteam.com/wordpress/2012/04/30/thinking-about-a-short-sale-tax-relief-ends-in-2012/

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Plano TX Townhome For Sale 6540 Federal Hall

Fri, 30 Mar 2012 03:18:51 -0700

3 Bedrooms | 2.1 Baths | 2 Car Garage | 1634 SF/Building Plan

Beautiful new construction townhome. Kitchen boasts granite counters, upgraded Maple cabinets, and stainless appliances. Relax in the upgraded master bath and enjoy the fenced back yard. Great location with restaurants, shopping, and movie theaters within walking distance. Ready April!

Click here for more details, photos, virtual tour, status, and pricing on this Plano TX Townhome For Sale.

Click here to see all townhomes for sale in Plano TX.

Photo Copyright 2011 Imaged2Sell

Originally posted at http://www.thebranchteam.com/wordpress/2012/03/30/plano-tx-townhome-for-sale-6540-federal-hall/

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Plano TX Townhome for Sale 6560 Federal Hall

Mon, 26 Mar 2012 06:47:28 -0700

3 Bedrooms | 2.1 Baths | 2 Car Garage | 1634 SF/Building Plan

Click here for more details, photos, virtual tour, status, and pricing on this Plano TX Townhome For Sale.

Click here to see all townhomes for sale in Plano TX.

Photo Copyright 2011 Imaged2Sell

Originally posted at http://www.thebranchteam.com/wordpress/2012/03/26/plano-tx-townhome-for-sale-6560-federal-hall/

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

McKinney Texas Home For Sale 3402 Los Alamos

Fri, 27 Apr 2012 11:24:37 -0700

3 Bedrooms | 2 Baths | 2 Car Garage | 1906 SF/Tax

Single level brick home with pool on treed lot. Open floor plan with lots of windows provides natural lighting. Island kitchen with light oak cabinets and ceramic tile flooring. Two living areas share see-through fireplace. Split master suite overlooks the backyard pool while the master bath has separate shower, dual vanities, garden tub, and walk-in closet. Fresh paint throughout, new hot water heater, new carpet, and recent laminate flooring.

Click here for more details, photos, virtual tour, status, and pricing on this McKinney TX Home For Sale.

Click here to see all homes for sale in McKinney TX.

Photo Copyright 2012 Imaged2Sell

Originally posted at http://www.thebranchteam.com/wordpress/2012/04/27/mckinney-texas-home-for-sale-3402-los-alamos/

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Allen Texas Home For Sale 1404 Kenya

Fri, 27 Apr 2012 11:11:19 -0700

4 Bedrooms | 2.1 Baths | 2 Car Garage | 2456 SF/Tax

Nice single-level home in Lost Creek Ranch. Open floor plan with high ceilings. Kitchen has 42 inch cabinets, tile backsplash, walk-in pantry, and ceramic tile floors. Large family room with fireplace overlooks the pool-sized back yard. Split master suite has jetted tub, separate shower, dual vanities, and walk-in closet. Stacked formals. Extended patio and sprinkler system. Recent exterior paint. Minutes from the Shops in Allen and US 75.

Click here for more details, photos, virtual tour, status, and pricing on this Allen TX Home For Sale.

Click here to see all homes for sale in Allen TX.

Photo Copyright 2012 Imaged2Sell

Originally posted at http://www.thebranchteam.com/wordpress/2012/04/27/allen-texas-home-for-sale-1404-kenya/

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

Richwoods Frisco Texas New Home Development

Thu, 26 Apr 2012 19:28:10 -0700

If your dream is a luxury home nestled in a gated community with a premier location, we've got your answer. With 500 acres of prime land in southeast Frisco, Richwoods will be home to 1,600 families.

Location, location, location! Richwoods is just north of Highway 121 and just west of Independence Parkway. You're minutes away from shopping, dining, sports, entertainment, and all the north Dallas suburbs have to offer. Planned amenities include a resort-style pool, club house with fitness center, walking trails, parks, and playgrounds. Richwoods is in the exemplary Frisco ISD and a brand new middle school is under construction adjacent to the community.

Home sites will vary in size offering luxury homes priced from the $300s to the $700s from top builders Toll Brothers, K. Hovnanian Homes, Landon Homes, and Newcastle Homes. Some of the builders are pre-selling already and will provide $1,000 towards upgrades of your choice. Prices will rise as the community begins to build out. Now is the time to choose your lot and features for your new home!

Originally posted at http://www.thebranchteam.com/wordpress/2012/04/26/richwoods-frisco-texas-new-home-development/

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

How’s the Market? North Texas is Hot!

Mon, 23 Apr 2012 04:35:24 -0700

Like many real estate professionals, I typically wear my name tag or some other logo apparel when I’m out and about. When people notice it, the opening question is usually, “How’s the market?” My answer these days is, "Hot!” Homes under $200k are flying off the market almost as fast as we can get them listed.

We listed seven properties in April--four of them are already under contract. As soon as a properly prepared, priced, and marketed property hits the market, the showings start and we have multiple offers in days.

Preparation, pricing, and marketing are the keys to generating traffic and emotional appeal.

As part of our pre-listing work we often recommend punch-out items and staging of the home. While punch-out costs vary with the amount of work to be done, it averages about $500. A couple of hours with a professional stager costs about $200. This is money well-spent and will be far less than your first price reduction.

Pricing is also important. Homes that are properly prepared will bring a higher sales price but homes that are more than 5 percent over market value tend to languish on the market. Price it right up-front.

Marketing is the final ingredient. Now that the house is prepared and priced right, it has to be well marketed. We use professional photography in all our listings. With over 90 percent of local buyers starting on the Internet, quality photography and well-written marketing text is critical to driving buyers into the home.

There has not been a better time to sell a home in the past 3-plus years!

If you’re looking for a professional team to sell your home in the North Dallas Suburbs, contact us at 214-227-6626.

Base Photo Used With Permission

Originally posted at http://www.thebranchteam.com/wordpress/2012/04/23/hows-the-market-north-texas-is-hot/

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

I Ran My Jetted Tub and There’s Black Stuff in the Water

Sun, 22 Apr 2012 08:49:14 -0700

I received a call from one of my clients today. They recently moved into a home and after unpacking they decided to take a nice soak in the jetted tub. They filled the tub, grabbed a bottle of Champagne, and got ready to get into the tub. When they tuned on the jets, a bunch of “black stuff” came out of the jets. They were upset and were going to call out a plumber to look at it.

First, don’t panic! The “black stuff” occurs when the tub is not used for extended periods of time. The water left over in the plumbing for the jets dries out leaving behind the residue my clients noted in the tub.

While it looks bad, it is easy to fix. I had them add a little chlorine bleach (note you should not get into the water with the bleach in it!) to the bath water, run it for a while, and then drain all the water. Once the tub is refilled and the jets turned on, it was normal again.

If you're having this kind of problem, try the chlorine bleach cleaning before you call the plumber.

Photo - Copyright 2011 Imaged2Sell

Originally posted at http://www.thebranchteam.com/wordpress/2012/04/22/i-ran-my-jetted-tub-and-theres-black-stuff-in-the-water/

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.